Drought Affects 418,000 Hectares of Rice Fields
in Indonesia, Says Agriculture Ministry
Oct 23, 2015
Extending drought conditions have affected about 418,000 hectares
of rice fields in Indonesia, Bloomberg quoted an Agriculture Ministry report.The
drought has damaged about 148,749 hectares of cultivated rice area mostly in
West Java, Central Java and South Sulawesi, according to the Agricultural
Ministry's Director General for Food Crops.Due to a likely reduction in this
year's rice output , the government has decided to import rice in order to
maintain adequate stocks and curb price hikes.
The President told reporters that the government has secured rice
imports from Vietnam and Thailand and can be shipped to Indonesia whenever
needed. He noted that the government would decide about shipping rice from
overseas based on the weather condition in the last week of October. The
government has reportedly signed import agreement for one million tons of rice
from Vietnam. However, it is not clear about agreements with Thailand. Last
month, the Vice-President hinted that Indonesia would require about 1.5 million
tons or rice imports to maintain adequate stocks and protect prices.
Asian Rice Quotes Remain Unchanged Today
Oct 23, 2015
Asian rice sellers kept their
quotes unchanged today.
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.
Oryza Weekly - Increasing Demand from Indonesia
and Philippines Supports Global Rice Prices
Oct 24, 2015
The current El Nino weather pattern
is strengthening and it is considered as one of the strongest patterns since 1950.
It is likely to extend to early next year. While countries in Asia, South
American and Australia will experience drought conditions, countries in North
America will get heavy rains. Production is likely to decline in India,
Indonesia, Thailand and the Philippines.
Global rice prices are continuing
to increase amid fears of lower supplies and increased demand from Indonesia
and the Philippines
The Oryza White Rice Index (WRI), a
weighted average of global white rice export quotes, ended the week at about
$395 per ton, up about $3 per ton from a week ago, up about $8 per ton from a
month ago and down about $59 per ton from a year ago.
Thailand
Thailand 5% broken rice is today
shown at about $360 per ton, down about $5 per ton from a week ago, up about
$15 per ton from a month ago and down about $65 per ton from a year ago.
Thailand’s Foreign Trade Department
approved the sale of 112,000 tons from the auction conducted on September 29,
at an average price of 10,000 baht (around $283) per ton.
The Thai Commerce Ministry plans to
introduce a new pledging scheme for Hom Mali rice in efforts to control prices
during the harvest season.
Vietnam
Vietnam 5% broken rice is today
shown at about $375 per ton, up about $15 per ton from a week ago, up about $15
per ton from a month ago and down about $65 per ton from a year ago.
In August, Vietnam exported about
461,035 tons of rice, down about 24% from July, and down about 27.5% from
August 2014.
Cambodia 5% broken rice is today shown at about $420 per ton, unchanged
from a week and an month ago, and down about $50 per ton from a year ago.
India
India 5% broken rice is today shown
at about $355 per ton, unchanged from a week ago, down about $5 per ton from a
month ago, and down about $65 per ton from a year ago.
Researchers from the Indian
Agricultural Research Institute will help the government promote the use of
black rice.
Pakistan
Pakistan 5% broken rice is today
shown at about $310 per ton, unchanged from a week ago, down about $5 per ton
from a month ago and down about $90 per ton from a year ago.
Pakistan exported around 659,567
tons of rice (including 89,950 tons of basmati and 569,617 tons of non-basmati)
in the first three months of FY 2015-16 (July - June), up about 16% from around
569,799 tons (121,496 tons of basmati and 448,303 tons of non-basmati) exported
during the same period in FY 2014-15,
Central & South America
Brazil 5% broken rice is today shown at about $500 per ton, unchanged
from a week and a month ago and down about $50 per ton from a year ago. The
Brazilian paddy rice index maintained by CEPEA reached around 40.38 real per 50
kilograms as of October 18, 2015, slightly up from around 40.32 real per 50
kilograms recorded on October 12, 2015. In terms of USD per ton, the
index reached around $208.33 per ton on October 18, 2015, slightly up from
around $207.33 per ton recorded on October 12, 2015. Month-on-month, the
index has increased about 6% from about 38.06 real per 50 kilograms on
September 18, 2015. In terms of USD, the index increased about 9% during the
month.
Five percent broken rice from Uruguay
and Argentina
is today shown at about $535 per ton, unchanged from a week ago, down about $5
per ton from a month ago, and down about $65 per ton from a year ago.
Venezuela reportedly plans to import rice from Suriname,
which will likely end the oil-for-rice deal with Guyana.
U.S.
U.S. 4% broken rice is today shown
at about $500 per ton, unchanged from a week ago, down about $35 per ton from a
month ago and up about $5 per ton from a year ago.
Chicago rough rice futures for
November delivery saw some gains midweek before dropping off towards the end of
the week. After opening at $12.130 per cwt (about $267 per ton) on
Monday, futures climbed to a weekly high of $12.290 per cwt (about $271 per
ton) on Wednesday before falling to close at $11.900 per cwt (about $262 per
ton) on Friday.
The U.S. cash market was weaker
later in the week, falling in sympathy with the futures market as most sellers
choose to store their rice and wait for prices to improve.
Taiwan purchased a total of 36,750 tons of the 2015 U.S. CSQ of 64,634
tons, as of October 13.
Other Markets
The European Commission will implement new regulations for limiting inorganic arsenic in
rice and other food starting January 1, 2016.
Cambodia has signed a contract with
China
to export about 100,000 tons of rice starting in early 2016.During the first nine
months of 2015, China has imported about 2.314
million tons of rice, up about 34% from the same period last year, according to
the China Customs General Administration.
A preliminary report by the Philippines
Agriculture Ministry noted that about 463,692 tons of rice worth 7.09 billion
pesos (around $152 million) have been damaged by the Typhoon Koppu. By the end
of October, the government of the Philippines will decide on importing an
additional one million tons of rice in the first quarter of 2016, according to
the National Food Authority Administrator. The government held an
emergency meeting this week to discuss the potential of additional rice
imports.
Extending drought conditions have
affected about 418,000 hectares of rice fields in Indonesia.
The government is discussing possible rice imports with the governments
of Thailand and Vietnam due to concerns about lower production as a result of
extending drought conditions. The President confirmed that the government
will import rice if the dry season continues until November.
The Italian Telematic Commodity
Exchange has developed a new online platform for international agricultural
trade, called “International Market,” to extend the benefits of an electronic
commodity exchange to non-European countries.
Iraq has invited international tenders to purchase about 30,000 tons
of rice from the U.S., Uruguay, Argentina, and India with the last date for
submitting bids November 11.
The government of Malaysia
has decided to review the Super Tempatan 15 (ST15) rice subsidy scheme, under
which it provides subsidized rice to low-income families, following criticisms
that it has failed to achieve the stated objectives
The Guyana Rice Producers
Association (RPA) Chairman has advised the government to tap the Caribbean and
Europe rice markets after losing the Venezuelan market,
Government of Malaysia Begins Review of
Subsidized Rice Program
Oct 23, 2015
The government of Malaysia has decided to review the Super
Tempatan 15 (ST15) rice subsidy scheme, under which it provides subsidized rice
to low-income families, following criticisms that it has failed to achieve the
stated objectives, Bloomberg quoted local sources.The Ministry of Agriculture
and Agro-Based Industry is reportedly conducting a survey to determine whether
the scheme needs to be improved or scrapped, the Agriculture Minister was
quoted. He noted that the Ministry received several complaints on the
conduction of the scheme. The Ministry has taken requisite measures but the
scheme, which is intended for only low-income people is being misused, he said.
Even non-Malaysians are using the scheme, he added."The outcome of the
study will be announced soon.
We are considering a new
mechanism to ensure that the government's aim to aid the poor will achieve its
goal," he said.The Minister assured that the government will try to fix
the leakages in the scheme and ensure that the targeted group is benefited.In
March this year, Malaysia's Public Accounts Committee (PAC) urged the
government to suspend the ST15 scheme as it has not been able to achieve the
objectives set by the Ministry of Agriculture as well as Agro-based industry,
but huge funds have been used for the program, which began in 2008.
Typhoon Koppu Damages 463,692 Tons of Rice
Worth $152 Million, Says Agriculture Ministry Report
Oct 23, 2015
A preliminary report by the
Philippines Agriculture Ministry noted that about 463,692 tons of rice worth
7.09 billion pesos (around $152 million) have been damaged by the Typhoon
Koppu, according to Bloomberg.
The typhoon affected about 335,885
hectares of rice fields. About 94% of the fields have a chance of recovery,
according to the Ministry. The Philippine Statistics Authority (PSA) is
estimating the country's total paddy output in the last quarter (October -
December) at around 7.95 million tons.
The Economic Planning Secretary
told reporters that the output in first quarter of next year would decline as
drought conditions have significantly affected the planting operations. He
noted that the government will consider importing one million tons of rice in
the first quarter of 2016 to compensate losses from the typhoon. He however
noted that the country currently has sufficient stocks.
The National Food Authority (NFA)
Council will meet next week to decide on the imports. It has already approved
for 1.8 million tons of rice imports this year and 500,000 tons in the first
quarter of 2016.
On the other hand another typhoon
‘Lando’ is likely to further damage rice crops leading to more losses and more
imports.
Global
Rice Quotes
October 26th, 2015
Long grain white rice - high quality
Thailand 100% B grade 365-375 ↔
Vietnam 5% broken 370-380 ↔
India 5% broken 350-360 ↔
Pakistan 5% broken 305-315 ↔
Myanmar 5% broken 415-425 ↔
Cambodia 5% broken 415-425 ↔
U.S. 4% broken 490-510
↔
Uruguay 5% broken 535-545 ↔
Argentina 5% broken 530-540 ↔
Long grain white rice - low quality
Thailand 25% broken 330-340 ↔
Vietnam 25% broken 355-365 ↑
Pakistan 25% broken 280-290 ↔
Cambodia 25% broken 400-410 ↔
India 25% broken 330-340 ↔
U.S. 15% broken 500-510 ↔
Long grain parboiled rice
Thailand parboiled 100% stxd 360-370 ↔
Pakistan parboiled 5% broken stxd 405-415 ↔
India parboiled 5% broken stxd 340-350 ↔
U.S. parboiled 4% broken 590-610 ↔
Brazil parboiled 5% broken 545-555 ↔
Uruguay parboiled 5% broken NQ ↔
Long grain fragrant rice
Thailand Hommali 92% 815-825 ↔
Vietnam Jasmine 475-485 ↓
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 830-840 ↔
Brokens
Thailand A1 Super 305-315 ↔
Vietnam 100% broken 305-315 ↔
Pakistan 100% broken stxd 275-285 ↔
Cambodia A1 Super 355-365 ↔
India 100% broken stxd 290-300 ↔
Egypt medium grain brokens NQ ↔
U.S. pet food 330-340
↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Guyana Advised to Tap Caribbean, European Rice
Markets after Losing Venezuelan Market
Oct 23, 2015
The Guyana Rice Producers Association (RPA) Chairman has advised
the government to tap the Caribbean and Europe rice markets after losing the
Venezuelan market, according to local sources.Last week, Venezuela has decided
to import rice from Suriname in 2016 under a new PetroCaribe deal, officially
cancelling deal with Guyana. The RPA Chairman noted that as Suriname would
supply rice to Venezuela, Guyana should consider tapping Suriname's traditional
markets in the Caribbean and Europe.
“Suriname’s rice production is not that big so it depends on how
much they supply to Venezuela and so depending on how much they supply to
Venezuela then that corresponding amount will be available for us (Guyana) to
supply the Caribbean and Europe,” he said.He noted that Venezuela was an
important market for Guyana because export earnings from Venezuela accounted
for about 75% of the total export earnings of the country though the volume of
exports comprised of only 38% of the country's total export volume.Guyana and
Venezuela are reportedly involved in a border controversy after Venezuela
sought to claim a part of Guyana’s territory.
Oryza Afternoon Recap - Chicago Rough Rice
Futures Tumble as Market Breaks through Technical Support and Demand Remains
Slack
Oct 24, 2015
Chicago rough rice futures for Jan delivery settled 28 cents per
cwt (about $6 per ton) lower at $12.140 per cwt (about $267 per ton). The other
grains finished the day with mixed results after trading sharply lower for the
majority of the session; Soybeans closed about 0.6% lower at $8.9600 per
bushel; wheat finished about 0.1% lower at $4.9050 per bushel, and corn
finished the day about 0.4% higher at $3.7975 per bushel.
U.S. stocks traded higher Friday after the Chinese central bank
cut interest rates and after three tech giants posted better-than-expected
earnings. The People's Bank of China cut interest rates for the sixth time
since November to 4.35%, effective from Oct. 24. Stocks opened sharply higher,
with the Dow Jones industrial average briefly trading more than 150 points
higher, while the Nasdaq Composite opened up 2%. The Nasdaq also traded above
5,000 for the first time since Aug. 19. The indexes held higher in late-morning
trading, but off their session highs, as the Dow pared its initial gains. On
the data front, investors took in the latest manufacturing PMI data, which came
in at 52, below the expected 52.8. In Europe, equities traded sharply higher,
with the pan-European STOXX 600 index closing 1.99% higher.
Overnight, Asian stocks closed higher, with the Nikkei 225 rising
2.11%, while the Shanghai Composite rose 1.32%. The IMF is working on a deal
that could add the Chines yuan into the fund's basket of reserve currencies.
The Dow Jones industrial average traded up 105 points, or 0.6%, at 17,594. The
S&P 500 traded up 16 points, or 0.81%, at 2,069, with information
technology leading six sectors higher as utilities led decliners. The Nasdaq
traded up 97 points, or 1.97%, at 5,017. Gold is trading about 0.3% lower,
crude oil is seen trading about 1.6% lower, and the U.S. dollar is seen trading
about 0.8% higher about 1:15pm Chicago time.
Thursday, there were 2,976
contracts traded, up from 1,853 contracts traded on Wednesday. Open interest –
the number of contracts outstanding – on Thursday decreased by 114 contracts to
12,807.
Contents have been published with written permission of ORYZA.com with thanks
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