Wholesale Basmati Rice Prices in India Increase sharply on Restricted
Supplies
Nov 20, 2015
Wholesale basmati rice
prices in India's capital increased by about Rs.500 per quintal (around $76 per
ton) today due to increased demand from stockists against restricted supplies,
according to the Press Trust of India (PTI).
Prices of common
basmati rice increased to around Rs.5,400 - Rs.5,900 per quintal (around $819 -
$894 per ton) from around Rs.5,000 - 5,400 per quintal (around $758 - $819 per
ton) yesterday.
Prices of Pusa 1121
increased to around Rs.4,500 - 5,500 per quintal (around $682 - $834 per ton)
from around Rs.4,200 - 5,000 per quintal (around $637 - $758 per ton)
yesterday.
"Frantic buying
by stockists against restricted supplies from producing regions and reports of
a likely fall in kharif output mainly kept rice basmati prices higher,"
traders were quoted as saying.
Tags:
Asia Rice Quotes Remain Unchanged Today
Nov 20, 2015
Asia rice sellers kept
their quotes unchanged from yesterday.
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.
Global Rice Quotes
November 20th, 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
Pakistan May Soon Finalize Rice Exports to Indonesia, Philippines and Sri
Lanka, Says Commerce Minister
Nov 20, 2015
Pakistan will shortly
start exporting rice to Indonesia, Sri Lanka and the Philippines, local sources
quoted the Federal Minister for Commerce.
The Minister informed
the National Assembly that a rice export agreement has been finalized with
Indonesia and an agreement with the Philippines is in final stage. He also
noted that quality concerns with Sri Lanka have been sorted out and exports to
the South Asian country will begin soon.
He assured the rice
exporters that the Trade Development Authority of Pakistan (TDAP) is actively
working to find new markets for Pakistani rice, especially basmati rice. He
informed that negotiations are going on with South Africa, Russia, France,
Angola and Germany. He also noted that efforts are being put to enhance exports
to the existing markets.
The Minister noted
that Pakistan exporters are holding surplus stocks of basmati rice due to a
bumper crop and less exports. He noted that falling global rice prices and
introduction of new low cost high yielding varieties by the international
competitors also contributed to a fall in Pakistan's rice exports.
He also assured that
the government would support the private rice exporters to solve the issue of
rising stocks and falling exports. He noted that the Prime Minister announced a
package of around Rs.350 billion (around $3.4 billion) to support farmers,
especially rice growers.
Meanwhile, exporters
are urging the government to quickly implement the new trade policy, which aims
at increasing product sophistication and diversification, market access,
institutional development and strengthening trade facilitation. It also aims to
increase investment in research and development. It particularly aims at
increasing basmati rice exports to Iran and Saudi Arabia. The agreement was
approved by the Prime Minister in August this year but its implementation is
being delayed, according to local sources.
Tags:
Oryza Weekly: Global Rice Quotes Decline Slightly on Stable Demand,
Supplies
Nov 21, 2015
The Oryza White Rice
Index (WRI), a weighted average of global white rice export quotes, ended the week
at about $393 per ton, down about $1 per ton from a week ago and a month ago
and down about $54 per ton from a year ago. Global rice supplies are expected
to contract in the coming year but there are no signs yet of aggressive buying.
The USDA forecasts
2015-16 global rice production to be around 473.5 million
tons, a decrease of about 1% from last year, due to an anticipated decline in
acreage as well as a decline in average yields, which are likely to be affected
by adverse weather conditions. The USDA forecasts global rice
acreage in 2015-16 at 159.2 million hectares, down slightly from
2014-15’s estimated 160 million hectares. The USDA estimates 2015-16 global
rice consumption and residual use at around 486.2 million tons, up
about 1% from last year, and it estimates 2015-16 global rice ending
stocks to decline by about 12% y/y to around 91 million tons. The USDA
forecasts 2015 global rice trade at around 42.5 million tons,
down about 800,000 tons from an estimated 43.4 million tons in 2014.
Thailand
Thailand 5% broken
rice is today shown at about $355 per ton, down about $5 per ton each from a
week and month ago, and down about $55 per ton from a year ago.
Beginning at the end
of November, the government of Thailand plans to begin the sale of about 2
million tons of rotten rice from stockpiles. It plans to sell around
37,413 tons of this rotten rice to industrial users on December 1.
The Commerce Ministry
Permanent Secretary claims that Thailand will be able to export at least 9
million tons of rice in 2016 due to lower global rice supplies.
The Deputy Prime
Minister of Thailand has defended the government’s stance to employ the
liability law/administrative order to seek financial compensation from the
accused in the rice pledging case, including the former Prime Minister, as
“fair” and straightforward.
The Thai police have
detained a convicted rice trader, Wittayakorn Thongsean, at the airport after
getting information that he was fleeing to Laos.
Vietnam
Vietnam 5% broken rice
is today shown at about $375 per ton, unchanged from a week and a month ago,
and down about $105 per ton from a year ago.
Cambodia
Cambodia 5% broken rice
is today shown at about $420 per ton, unchanged from a week and a month ago,
and down about $40 per ton from a year ago.
Myanmar 5% rice is today shown at around $410 per ton, unchanged
from a week and a month ago.
India
India 5% broken rice
is today shown at about $350 per ton, unchanged from a week and a month ago,
and down about $65 per ton from a year ago.
Wholesale basmati rice
prices in India's capital firmed up this week due to increased demand from
stockists against restricted supplies.
India’s rice export
earnings declined sharply in the first six months of FY 2015-16
(April-September), a decrease of about 17% from the same period in FY
2014-15. This decline is despite an increase in export tonnage by about
5%, and is due to a sharp decline in average export prices.
Wholesale basmati rice
prices in India increased by about Rs.300 per quintal (around $45 per ton)
Thursday due to increased demand and lower supplies.
The Associated
Chambers of Commerce and Industry of India (ASSOCHAM) has warned that domestic
prices of rice may increase sharply in the coming months due to a likely lower
output from the 2015 kharif rice crop as well as declining stocks in the
central pool.
Food Ministry
officials say that rice procurement by the Food Corporation of India and state
government agencies for the kharif marketing season 2015-16
(October-September), which began on October 1, has received a good response
from Indian farmers.
Pakistan
Pakistan 5% broken
rice is today shown at about $320 per ton, unchanged from a week ago, up about
$10 per from a month ago, and down about $75 per ton from a year ago.
Pakistan will shortly
start exporting rice to Indonesia, Sri Lanka and the Philippines. The Commerce
Minister informed the National Assembly that a rice export agreement has been
finalized with Indonesia and an agreement with the Philippines is in final
stage. He also noted that quality concerns with Sri Lanka have been sorted out
and exports to the South Asian country will begin soon.
Central &
South America
Five per cent broken
rice from Uruguay and Argentina is today shown at about $535
per ton, unchanged from a week and a month ago, and down about $65 per ton from
a year ago.
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 the Center for Advanced Studies on Applied Economics
(CEPEA) reached around 40.22 real per 50 kilograms as of November 17, 2015,
down about 2% from around 40.98 real per 50 kilograms recorded on November 10,
2015. In terms of USD per ton, the index reached around $218.98 per ton
on November 17, 2015, slightly up from around $218.05 per ton recorded on
November 10, 2015. Month-on-month, the index has increased about 1.5%
from about 40.58 real per 50 kilograms. In terms of USD, the index increased
about 4% during the month.
U.S.
U.S. 4% broken rice is
today shown at about $500 per ton, unchanged from a week and a month ago and
down about $45 per ton from a year ago.
Chicago rough rice
futures for January delivery reached both their weekly high ($12.200 per cwt or
about $269 per ton) and their weekly low ($11.745 per cwt or about $259 per
ton) on Tuesday. Futures were mostly sideways this week and closed at $12.115
per cwt (about $267 per ton).
The U.S. cash market
for rice was mostly unchanged this week as traders awaited news regarding the
Iraqi Grain Board’s tender award.
Other Markets
Paddy rice output in
2015 in the Philippines is likely to reach about 18.3 million
tons, down about 3.54% from in 2014, due to extending dry weather conditions
brought about by the El Nino phenomenon and a series of typhoons.
The average prices of
medium quality rice in Indonesia have reached a record Rp
10.414 million (around $750) per ton on concerns of lower paddy output and
consequent lower stocks, according to the UN’s FAO. The Indonesian
government plans to import around 500,000 tons of rice from Pakistan in order
to increase the buffer stocks and protect prices from increasing. Indonesia's
paddy rice output in 2106 is expected to be lower than that in 2015 as planting
operations for 2015-16 main season rice crop (September - March) are being
delayed due to El Nino-induced drought conditions this year
The USDA Post
estimates Jordan’s 2015 rice imports to increase 30% y/y to
around 196,000 tons, due to increasing demand.
The UN’s FAO forecasts
Madagascar’s paddy production in 2015 to decline about 6% y/y
to around 3.7 million tons.
The Gambia
government has deferred its plans to ban rice imports until September 2016.
Nigeria is seeking the support of the Chinese government to
strengthen its rice milling sector, which is requisite to boost the country's
rice production and avoid imports. The Nigerian government is planning shortly
strike a deal with China to set up 40 rice mills, with a milling capacity of
about 100 tons per day, in the country.
Italian paddy rice prices, which were quite low in the last week
of September last week and first week of October, have started increasing from
the second week of October and are continuing the pace. While prices of
Japonica increased to a relatively higher extent in the earlier weeks of this
crop year (September 2015 – August 2016), prices of Indica have mostly
increased during the week November 10 - November 17, 2015.
Nigeria Seeks Chinese Support to Strengthen Rice Milling Sector
Nov 20, 2015
Nigeria is seeking the
support of the Chinese government to strengthen its rice milling sector, which
is requisite to boost the country's rice production and avoid imports. The West
African nation is negotiating with the China's state Import and Export Bank in
this regard, according to Reuters.
The Nigerian
government is planning shortly strike a deal with China to set up 40 rice
mills, with a milling capacity of about 100 tons per day, in the country,
Reuters quoted the new Agriculture Minister. He noted that the government plans
to import required equipment to build rice mills from China under this deal.
The newly elected
government is reportedly continuing with the plans of the previous government.
The Minister also told
that the government will support the farmers financially by providing central
bank loans at half the interest rate charged by the commercial banks.
Nigeria is the world's
second largest importer of rice and imports over half of its annual rice
consumption demand. Nigeria produced around 2.9 million tons in 2014, about 52%
higher than around 1.9 million tons produced in 2013. The government of Nigeria
is aiming to attain self-sufficiency in rice production in the next two years
and stop imports.
USDA estimates Nigeria
to produce around 2.709 million tons of rice and import around 3 million tons
of rice in MY 2015-16 (October – September) to meet a consumption demand of
around 6 million tons.
Planting Delays May Lower Indonesia's Paddy Rice Output in 2016, Says
Farmers Association
Nov 20, 2015
Indonesia's paddy rice
output in 2106 is expected to be lower than that in 2015 as planting operations
for 2015-16 main season rice crop (September - March) are being delayed due to
El Nino-induced drought conditions this year, local sources quoted the Chairman
of Indonesian Farmer Seed Bank Association (AB2TI).
The official told
local sources that only 15% of the Association's members could plant rice on
scheduled time in October, and mostly in irrigated areas. About 23% will begin
planting this month and about 62% will begin planting only in December, two months
later than the regular schedule.
The Association
assists smallholding farmers by providing seeds and improving agriculture
techniques and practices.
The Central Statistics
Agency (BPS) was forced to cut its estimates for 2015 paddy rice output by about
560,000 tons to around 74.99 million tons due to the extending dry conditions.
The government
reportedly secured about 1.5 million tons of imports from Thailand and
Vietnam to maintain adequate stocks and curb price hikes.
However, the
Vice-President this week told the Asia-Pacific Economic Community (APEC) forum
that the government may not need to import rice next year if the weather
improves.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Rally to
Finish Week with Slight Gain after Back-and-Forth Action
Nov 21, 2015
Chicago rough rice
futures for Jan delivery settled 28.5 cents per cwt (about $6 per ton) higher
at $12.130 per cwt (about $267 per ton). The other grains finished the day
lower; Soybeans closed about 0.3% lower at $8.5750 per bushel; wheat finished
about 0.5% lower at $4.9000 per bushel, and corn finished the day about 0.1%
lower at $3.6975 per bushel.
U.S. stocks traded
higher Friday, helped by gains in retail stocks, as investors looked to central
banker comments on the trajectory of monetary policy. Ahead of the open,
European Central Bank President Mario Draghi said the ECB stands ready to
"do what (it) must to raise inflation as quickly as possible" if it
decides current policy isn't stimulating the sluggish euro zone economy. Fed
Vice Chairman Stanley Fischer said after the close Thursday that "some
major central banks" could move away from near-zero interest rate policy
"in the relatively near future." The major averages are on track to
close the week with gains of about 3.5%. U.S. stocks closed a touch lower
Thursday, holding the bulk of Wednesday's post-Fed minutes gains. On the data
front, the Kansas City Fed manufacturing index came in at positive 1 for
November, up from minus 1 in October and minus 8 in September. In afternoon
trade, the Dow Jones industrial average traded up 83 points, or 0.5%, to
17,815. The S&P 500 traded up 8 points, or 0.4%, to 2,089, with consumer
discretionary leading six sectors higher and energy the greatest laggard. The Nasdaq
composite gained 29 points, or 0.58%, to 5,103. Gold is seen trading about 0.1%
lower, crude oil is seen trading about 1.7% higher, and the U.S. dollar is seen
trading about 0.6% higher at about 1:00pm Chicago time.
Thursday, there were 2,016
contracts traded, up from 314 contracts traded on Wednesday. Open interest –
the number of contracts outstanding – on Thursday increased by 277 contracts to
12,696
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