Indonesia Plans to Import 500,000 Tons of Rice from Pakistan
Nov 19, 2015
The government of Pakistan
is planning to import around 500,000 tons of rice from Pakistan to increase the
buffer stocks and protect prices from increasing, according to local sources.
The country's Trade
Minister reportedly told the Asia-Pacific Economic Cooperation (APEC) forum
that the government is planning to sign a Memorandum of Understanding (MoU)
with the government of Pakistan in this regard. He also noted that after
reaching an agreement with Pakistan, a Bulog team would verify Pakistan's rice
supply. The Minister stated that the rice would enter Indonesia in early 2016.
Though the government
of Indonesia has been stating that imports of one million tons from Vietnam are
secured and plans for 500,000 tons from Thailand are in the pipeline, it is
concerned that a huge volume of rice imports, of around 1.5 million tons, by
the Philippines from Vietnam and Thailand are understood to have become a cause
of concern. The government is reportedly concerned if two exporting nations
would be able to supply rice i stipulated time. Therefore, it is understood to
be securing about 500,000 tons from Pakistan.
The Vice-President
told the APEC forum on Wednesday that rice imports are inevitable for Indonesia
as the domestic production is severely impacted by the drought-inducing El Nino
weather phenomenon. He however, expressed hope that the nation may not require
to import rice in 2016, if the weather conditions improve.
The government rice
stocks reportedly stood between 1.3 and 1.4 million tons as of October 25,
2015, enough to meet only half of the country's monthly demand of around 2.5
million tons.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Go Nowhere
as Supportive Export Sales Report Balanced by Tepid Demand Forecast
Nov 20, 2015
Chicago rough rice
futures for Jan delivery settled 0.5 cents per cwt (about $0.11 per ton) higher
at $11.845 per cwt (about $261 per ton). The other grains finished the day
higher, supported by strong export sales; Soybeans closed about 0.3% higher at
$8.6000 per bushel; wheat finished about 1.5% higher at $4.9225 per bushel, and
corn finished the day about 0.5% higher at $3.7025 per bushel.
U.S. stocks traded in
a range Thursday, following solid gains Wednesday, as investors eyed some
corporate news and sought further indications of support for a December rate
hike from data and Fed speakers. The major averages fluctuated between slight
gains and losses, but remained on track for gains of more than 2.5% for the
week. Federal Reserve speakers Thursday continued to emphasize a gradual pace
of tightening. Atlanta Fed President Dennis Lockhart said he is
"comfortable with moving off zero soon.
" On the data
front, initial jobless claims came in at 271,000. The Philadelphia Fed
Manufacturing survey's diffusion index for current activity came in for
November at 1.9, its first positive reading in three months. U.S. October
leading indicators rose 0.6%, slightly more than expected. Overnight, the Bank
of Japan kept monetary policy unchanged. In early afternoon trade, the Dow
Jones industrial average traded down up 13 points, or 0.08%, to 17,751. The
S&P 500 traded down less than a point, or 0.01%, at 2,083, with information
technology leading seven sectors higher and health care the greatest laggard.
The Nasdaq traded up 8 points, or 0.17%, at 5,083. Gold is seen trading about
1% higher, crude oil is seen trading about 1.2% lower, and the U.S. dollar is
seen trading about 0.7% lower at about 1:00pm Chicago time.
Wednesday, there were
314 contracts traded, down from 829 contracts traded on Tuesday. Open interest
– the number of contracts outstanding – on Wednesday decreased by 16 contracts
to 12,419.
Thailand Plans to Sell 37,413 Tons of Rotten Rice from Stockpiles on
December 1, 2015
Nov 19, 2015
Thailand is planning
to sell around 37,413 tons of rotten rice from stockpiles to industrial users
on December 1, 2015, Bloomberg quoted the Department of Foreign Trade (DFT).
Interested buyers can
submit the relevant documents on November 30, 2015 for qualification checks.
Qualified buyers can propose prices on December 1, 2015, according to the DFT.
The government has
been planning to begin sale of about 2 million tons of rotten rice from
stockpiles from the end of November 2015. It reportedly decided to begin the
auctions in lots of between 1,000 and 6,000 tons.
Thailand holds about
13 million tons of rice stocks, of which about 6 million tons are
"below-standard or rotten" and are judged unfit for human
consumption, according to a Commerce Ministry statement. The Ministry decided
to sell these stocks for industrial uses as ethanol production.
The government of
Thailand sold around 4.6 million tons of stockpiled rice raising around 49
billion baht (around $1.4 billion) in the ten auctions conducted since it took
over in May 2014.
The Gambia Defers Plans to Ban Rice Imports to September 2016
Nov 19, 2015
The Gambia government
has deferred it plans to ban rice imports to September 2016, Bloomberg quoted
the local sources.
The government
initially planned to ban rice imports from the end of 2015. However, the
President had last year hinted that the government would consider retraction of
the import ban based on the production levels in 2014 and 2015. He noted that
the import ban would hold good only if the country produced sufficient rice to
meet local demand by the end of 2015.
The country imported
rice worth 1.9 billion dalasi (around $47 million) in 2014, according to the
Minister of Trade and Industry.
The President had
declared in June 2013 that he aims to make the country self-sufficient in rice
production and reduce its dependency on imports. His stance invited several
criticisms as The Gambia produces only 20% of its rice consumption needs and it
would need to increase its rice production by five-fold or more to reach the
self-sufficiency target. Some have also warned that any ban on rice imports
without sufficient production may result in rice smuggling as in the case of
Nigeria.
USDA estimates The
Gambia to produce around 35,000 tons of rice and import around 155,000 tons in
MY 2015-16 (October - September) to meet consumption needs of around 185,000
tons.
Oryza U.S. Rough Rice Recap - Market Seen Unchanged after No Iraqi Tender
News
Nov 20, 2015
The U.S. cash market was
unchanged today with little to no trading to report following the absence of
news regarding the Iraqi Grain Board’s tender award announcement.
Analysts note that it
is not is not uncommon for the Iraqi Grain Board to request an extension for
offers to remain good until sometime next week although usually this doesn’t
bode well for the U.S.
In the meantime,
cumulative net export sales for the week that ended on November 12th,
totaled 43,600 tons, an increase of 22% from the previous week but 41% lower than
the prior 4-week average.
Increases were
reported for the following destinations including: 28,300 ton to Haiti, 6,600
tons to Guatemala including 6,000 tons switched from unknown destinations,
2,700 tons to Mexico, 2,400 tons to Canada, and 1,600 tons to Jordan, while a
reductions of 1,000 tons and 600 tons were reported for unknown destinations
and Iran, respectively.
U.S. rice exporters
shipped 110,200 tons, which was a considerable higher than last week and the
prior 4-week average. Increases were reported for the following destinations
including: 29,400 tons to Iran, 22,500 tons to Honduras, 21,300 tons to Haiti,
10,400 tons to Mexico, and 6,900 tons to Colombia.
Global Rice Quotes
November 19th, 2015
Long grain white rice - high quality
Thailand 100% B grade 360-370
↔
Vietnam 5% broken 370-380
↔
India 5% broken 345-355
↔
Pakistan 5% broken 315-325
↔
Myanmar 5% broken 405-415
↔
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 335-345
↓
Vietnam 25% broken 355-365
↔
Pakistan 25% broken 290-300
↔
Cambodia 25% broken 400-410
↔
India 25% broken 325-335
↔
U.S. 15% broken 500-510
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 350-360 ↔
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% 705-715
↓
Vietnam Jasmine 450-460
↔
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 830-840
↔
Brokens
Thailand A1 Super 325-335
↔
Vietnam 100% broken 330-340
↔
Pakistan 100% broken stxd 280-290
↔
Cambodia A1 Super 355-365
↔
India 100% broken stxd 285-295
↔
Egypt medium grain brokens NQ
↔
U.S. pet food 330-340 ↔
Brazil half grain NQ
↔
All prices USD per ton, FOB vessel, oryza.com
Wholesale Basmati Rice
Prices in India Increase on Higher Demand and Lower Supplies
Nov 19, 2015
Wholesale basmati rice
prices in India's capital increased by about Rs.300 per quintal (around $45 per
ton) today due to increased demand from stockists but lower supplies, according
to the Press Trust of India (PTI).
Prices of common
basmati rice increased to around Rs.5,000-Rs.5,400 per quintal (around $756 -
$816 per ton) from around Rs.5,000-5,100 per quintal (around $756 - $771 per
ton) yesterday.
Prices of Pusa 1121
increased to around Rs.4,200-5,000 per quintal (around $635 - $756 per ton)
from around Rs.4,100-4,800 per quintal (around $620 - $725 per ton) yesterday.
Farmers' reluctance to
sell basmati paddy at low prices to millers is understood to be resulting in
fewer supplies of milled rice in the markets.
Thailand, India Rice Sellers Alter Some of Their Quotes Today; Other Asian
Quotes Remain Unchanged
Nov 19, 2015
Thailand rice sellers lowered their quotes for 25% broken rice by
about $10 per ton to around $335 - $345 per ton and lowered their quotes for
Hom Mali rice by about $20 per ton to around $705 - $715 per ton today. India
rice sellers increased their quotes for parboiled rice by about $5 per
ton to around $340 - $350 per ton. Other rice quotes remain unchanged today.
5% Broken Rice
Thailand 5% rice is
indicated at around $350 - $360 per ton about $20 per ton discount on Vietnam
5% rice shown at around $370 - $380 per ton. India 5% rice is indicated at
around $345 - $355 per ton, about $30 per ton premium on Pakistan 5% rice shown
at around $315 - $325 per ton.
25% Broken
Rice
Thailand 25% rice is
indicated at around $335 - $345 per ton, about $20 per ton discount on Vietnam
25% rice shown at around $355- $365 per ton. India 25% rice is indicated at
around $325 - $335 per ton, about $35 per ton premium on Pakistan 25% rice
shown at around $290 - $300 per ton.
Parboiled
Rice
Thailand parboiled
rice is indicated at around $350 - $360 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 $325 - $335 per ton, about $5 per ton discount
to Vietnam 100% broken rice shown at around $330 - $340 per ton. India's 100%
broken rice is shown at around $285 - $295 per ton, about $5 per ton premium on
Pakistan broken sortexed rice shown at around $280 - $290 per ton.
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