New Online Platform for International Agricultural Trade
Oct 21, 2015
The Italian Telematic Commodity
Exchange has developed a new online platform for international agricultural
trade, "International Market", to extend the benefits and
advantages of an electronic commodity exchange to non-European countries.
It also aims at
balancing the demand for and supply of food products between European and
non-European countries.
The Italian Ministry
of Agriculture and Forestry presented the "International Market" on
October 20, 2015 at the Milan Rice Expo.
"We are ready to
start with a first experimental phase of one year, involving mostly African
countries, from Egypt to Tunisia, from Angola to other Mediterranean partners.
The development of international relations, fairer and more transparent markets
passes through innovative solutions such as this," said the Italian
Agriculture Minister.
The new platform will
allow small and medium sized enterprises from the developing countries to trade
internationally by surpassing the gap related to different international
regulations. It also allows parties to integrate their agreements with the
choice of more and specific contractual terms.
Members will receive
ID and password to access the trading platform and transact their goods and
conclude effective contracts. The platform automatically records the prices and
quantities of various goods traded thereby ensuring market transparency.
The
"International Market" is seen as an innovative tool to facilitate
companies' access to foreign markets in a regulated and transparent way.
Indonesia will Import Rice if Dry Season Continues Until November 2015,
Says President
Oct 21, 2015
The Indonesian
President today confirmed that the government would decide to import rice if
rains don't resume by the fourth week of October 2015 and if the dry season
continues till November, according to local sources.
The President noted
that rice import agreements are already finalized with some exporting nations
and rice can be shipped to Indonesia whenever needed. He stated that the
imported rice will be used to add up to the national rice reserves.
The Vice-President
earlier indicated that Indonesia needs to import about 1.5 million tons of rice
to maintain adequate stocks and avoid price hikes. He confirmed that the
government would import rice from Vietnam to maintain food supply at the end of
this year after analyzing the likely food shortages in November and December
2015.
Indonesian rice
production is likely to be impacted by a drought-inducing El Nino phenomenon,
which is expected to be stronger than that experienced in the 1997-1998 period.
The President was keen
on achieving self-sufficiency in rice production and avoid imports. However,
the extending dry conditions have prompted the government to import rice.
Iraq Seeks to Purchase 30,000 Tons of Rice in International Tenders
Oct 21, 2015
Iraq has invited
international tenders to purchase about 30,000 tons of rice from U.S., Uruguay,
Argentina and India, Bloomberg quoted a statement from the Iraq's Trade
Ministry.
Last date for
submitting bids is November 11, 2015 and offers remain valid till November 19,
2015.
The Iraq Trade
Ministry did not make any purchase in the last tender, for which it initially
set September 6, 2015 as deadline to receive bids with offers having to remain
valid until September 10. It extended the deadline twice due to high prices.
Plans Underway to Develop Global Food Crop Genetics Search-Engine
Plans are underway to
develop a new food crop genetics search-engine known as Global Information System
(GLIS), which can speed up research efforts aimed at breeding and developing
higher yielding crop varieties, according to local sources.
Nearly 139 government
agencies and non-government organizations who are members of the International
Treaty on Plant Genetic Resources have approved for the development of GLIS at
a meeting in Rome recently.
The Head of genetic
resources at the International Rice Research Institute (IRRI) noted that the
GLIS will serve as an index that helps users to get information that
exists on many databases around the world. "It is a bit like the
search-engines Google or Bing, they are indexes of information held on other
people's websites," he said.
He noted that many
gene banks contain rarely used, low-yielding varieties of rice and other food
crops, and these contain useful genetic traits, like disease resistance,
drought or frost tolerance. An index developed with their traits can help
researchers breed better varieties, he said. "If you can transfer specific
desirable plant characteristics from the old varieties into the new varieties,
then you create something that's better than the best," he added.
It is understood that
world's famous genetic repositories such as Svalbard Global Seed Vault in
Norway and a facility in Horsham in Australia will be roped in to provide
public access to digital information about genetics held in their collections.
Australia, which
chairs the Treaty's governing body, has so far contributed over $1.5 million to
the Treaty since 2009, according to the Department of Agriculture and Water
Resources.
China Rice Imports Increase Sharply in First Nine Months of 2015
Oct 21, 2015
China has imported
around 2.314 million tons of rice in the first nine months of 2015 (January -
December), up about 34% from around 1.73 million tons imported during the same
period last year, according to data from China Customs General Administration.
In September 2015,
China imported around 357,700 tons of rice, up about 66% from around 215,000
tons imported in August 2015, and almost twice of around 180,000 tons imported
in September 2014.
China has exported
around 205,200 tons of rice in first nine months of 2015, down about 43% from
around 363,161 tons exported during the same period last year, according to
data from the China Customs General Administration.
In September 2015,
China exported around 63,000 tons of rice, up about 3.3 times from around 19,000
tons exported in August 2015 and up about 45% from around 43,489 tons exported
in September 2014.
China imported about
2.563 million tons of rice and exported about 419,069 tons of rice and in 2014.
USDA estimates China
to produce around 145.5 million tons of milled rice in MY 2015-16 (July -
June). It estimates China to import around 4.7 million tons and export around
400,000 tons of rice in 2015.
Philippines to Hold Emergency Meeting on Additional Rice Imports This Week
Oct 21, 2015
The government of
Philippines has decided to hold an emergency meeting this week to discuss about
additional rice imports this year after the Typhoon Koppu left many paddy
fields damaged, according to Reuters.
The National Food
Authority (NFA) Council is scheduled to meet on October 29to review the
country's rice supplies and the need for one million tons rice imports next
year. However, the NFA Council has decided to advance the meeting to this week
as crop losses from the Typhoon are likely to be high.
"We will
immediately discuss if the stocks we've prepared for El Nino and an additional
volume that has yet to arrive would still be enough until December," said
the NFA Administrator.
The typhoon reportedly
has destroyed about 400,000 tons of paddy rice, almost 5% of the estimated
output of around 7.95 million tons (basis milled) in the last quarter.
The government has
already approved for importing about 1.8 million tons of rice for delivery this
year.
Oryza Afternoon Recap - Chicago Rough Rice Futures Move Higher as Firmer
Grains Continue to Support the Market
Oct 22, 2015
Chicago rough rice
futures for Nov delivery settled 8.5 cents per cwt (about $2 per ton) higher at
$12.260 per cwt (about $270 per ton). The other grains traded higher today;
Soybeans closed about 1% higher at $9.0525 per bushel; wheat finished about
0.7% higher at $4.9475 per bushel, and corn finished the day about 1.1% higher
at $3.8075 per bushel.
U.S. stocks were mixed
in choppy trade Wednesday, as investors took in fresh corporate earnings. The
Dow Jones industrial average was slightly higher, while the S&P and the
Nasdaq traded near the flatline again. Investors also digested EIA oil
inventories data, which showed inventories rise by 8 million barrels, as U.S.
crude prices have fallen over 4.5% this week. Wall Street also digested Japanese
exports data, which came in far weaker than expected. Japan's annual export
growth slowed for the third straight month in September, raising questions as
to whether or not the Bank of Japan will go further into its qualitative and
quantitative easing program. In Europe, stocks ended mixed, with the
pan-European STOXX 600 closing flat and the German DAX ending higher in
anticipation of Thursday's European Central Bank meeting. The Dow Jones
industrial average rose 44 points, or 0.24%, to 17,259. The S&P 500 traded
0.26 points higher at 2,031, with industrials leading four sectors lower and
materials leading laggards. The Nasdaq fell 6 points, or 0.12%, to 4,874. Gold
is trading about 0.8% lower, crude oil is seen trading about 2.1% lower, and
the U.S. dollar is seen trading about 0.1% higher about 1:30pm Chicago
time.
Tuesday, there were
967 contracts traded, down from 1,694 contracts traded on Monday. Open interest
– the number of contracts outstanding – on Tuesday increased by 214 contracts
to 13,108.
Thailand, Vietnam Rice Sellers Alter Some of Their Quotes Today; Other
Asian Quotes Remain Unchanged
Oct 21, 2015
Thailand rice sellers
lowered their quotes for parboiled rice by about $5 per ton to around $30 - $370
per ton today. Vietnam rice sellers increased their quotes for jasmine rice
variety by about $5 per ton to around $475 - $485 per ton. Other rice sellers
kept their quotes unchanged from yesterday.
5% Broken Rice
Thailand 5% rice is
indicated at around $355 - $365 per ton about $15 per ton discount on Vietnam
5% rice shown at around $370 - $380 per ton. India 5% rice is indicated at
around $350 - $360 per ton, about $45 per ton premium on Pakistan 5% rice shown
at around $305 - $315 per ton.
25% Broken
Rice
Thailand 25% rice is
indicated at around $330 - $340 per ton, about $20 per ton discount on Vietnam
25% rice shown at around $350- $360 per ton. India 25% rice is indicated at
around $330 - $340 per ton, about $50 per ton premium on Pakistan 25% rice
shown at around $280 - $290 per ton.
Parboiled Rice
Thailand parboiled
rice is indicated at around $360 - $370 per ton. India parboiled rice is
indicated at around $340 - $350 per ton, about $65 per ton discount to Pakistan
parboiled rice last shown at around $405 - $415 per ton.
100% Broken
Rice
Thailand broken rice,
A1 Super is indicated at around $305 - $315 per ton, at par with Vietnam 100%
broken rice shown at around $305 - $315 per ton. India's 100% broken rice is
shown at around $290 - $300 per ton, about $15 per ton premium on Pakistan
broken sortexed rice shown at around $275 - $285 per ton.
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