Tuesday, November 24, 2015

24th November,2015 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

Nicaragua Develops New Drought-Resistant Rice Variety

Nov 23, 2015

The Nicaraguan Institute of Agricultural Technology (INTA) has developed a new drought-resistant rice variety, INTA-Posoltega, according to local sources.The new variety can yield up to 8 tonsof paddy per parcel of land (11.4 tons per hectare) and matures in 120 days, according to an INTA's researcher.

The INTA-Posoltega variety was reportedly introduced to small- and medium-sized rice producers in the country's south-eastern city of Nueva Guinea, an agricultural region which vulnerable to droughts and climate changes.

Nicaragua produces about 80% of the annual demand of over 350,000 tons. USDA estimates the South American nation to produce about 290,000 tons of rice (basis, milled) in MY 2015-16 (October - September) and import about 70,000 tons to meet an annual consumption demand of around 360,000 tons.

 European Paddy, Rice Quotes Show Slight Movements in Second Week of November 2015

Nov 23, 2015

European paddy quotes showed slight movements during the week November 10-17, 2015, according to the European quotations supplied by the European Union (EU) on November 17, 2015. Paddy quotes were not available in some countries.SPAIN - Japonica paddy did not move from 286 euros (about $304) per ton, unchanged. Indica paddy is firm at 273 euros (about $290) per ton. Milled Japonica rice quoted 586 euros (about $623) per ton on both weeks.                                       
PORTUGAL - Portuguese rice received no quotations on both weeks.         
GREECE – Greek rice received no quotations on both weeks as for medium and Indica varieties. Paddy long varieties are out at 300 euros (about $319 per ton) on both weeks.
ROMANIA -  Japonica paddy prices were fixed at 353 euros (about $375) per ton, slightly up from 352 euros (about $374) per ton on November 10. Indica paddy quotes were fixed on November 17 at 312 euros (about $331) per ton, down from 320 euros (about $340) per ton of the prior week. As for milled rice, on November 17, Japonica quotes went up to 731 euros (about $777) per ton from 720 euros (about $765) per ton on November 10. Indica milled rice was fixed at 684 euros (about $727) on November 17, up from 662 euros (about $704) per ton of November 10.   
BULGARIA - Japonica paddy quotations were firm at 294 euros (about $312) per ton. Japonica milled rice prices were unchanged at 872 euros (about $927) per ton.
FRANCE - Round milled rice was out at 560 euros (about $595) per ton on both weeks, Long A at 590 euros (about $627) per ton on both weeks, Long B at 580 euros (about $616) per ton, upo from 570 euros (about $606) per ton of November 10.

Iran to Temporarily Allow Rice Imports, Reports Local Media

Nov 23, 2015

Iran, which imposed a ban on rice imports in October 2014 citing adequate stocks, has decided to temporarily lift the ban on rice imports for three months starting December 3, 2015, local sources quoted a statement issued by the Agriculture Minister.
The Ministry will reportedly allow customs officials to issue new import permits from December 4, 2015 - March 4, 2016, according to the statement. The ban will be reinstated after the three-month period, according to the Ministry.
The decision is understood to tackle the insufficient domestic stocks to meet the demand.
There were reports in early November 2015 that Iran was lifting the ban on rice imports. However, the Agriculture Ministry denied the reports. A few days later, it was reported that Indian rice exporters were using the United Arab Emirates (UAE) route to export rice to Iran in an effort to get around Iran's restrictive import permits to India's basmati rice.
Iran imported around 433,000 tons of rice in the first seven months of FY 2015-16 (March - February) on orders placed before the ban.
Iran is the largest exporter of Indian basmati rice, accounting for more than a third of the country's basmati rice exports. Indian exporters are looking forward for Iran to resume imports as it would enhance basmati rice exports as well as push up prices, which have been falling since the beginning of this year due to lower demand.
India has exported 300,000 tons of basmati rice to Iran in the first four months of (April-August) FY 2015-16 (April - March) against 370,000 tons during the same period in FY 2014-15, according to the APEDA data. India exported 935,567 tons in FY 2014-15, down about 35% from around 1.44 million tons in FY 2013-14.

Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Ease off of Early Gains to Close in the Red; Wheat Rallies Over 1.5% on the Day

Nov 24, 2015

Chicago rough rice futures for Jan delivery settled 2.5 cents per cwt (about $1 per ton) lower at $12.105 per cwt (about $267 per ton). The other grains finished the day higher; Soybeans closed about 0.8% higher at $8.6425 per bushel; wheat finished about 1.6% higher at $4.9775 per bushel, and corn finished the day about 0.9% higher at $3.7300 per bushel.
U.S. stocks traded in a range Monday as investors eyed fluctuations in oil prices and looked ahead to economic reports in the shortened Thanksgiving holiday week. European stocks ended lower, under some pressure from fluctuations in oil prices and declines in copper, which hit its lowest level in more than 6 years. U.S. stocks rose more than 3% last week, with the S&P 500 posting its best week for the year so far, helped by gains in retail stocks and increasing confidence in a December rate hike. Key economic reports for the week include another read on third-quarter GDP Tuesday and the Fed's preferred gauge on inflation, the price inflation measure for personal consumption expenditures, Wednesday.
In economic news Monday, the Chicago Fed National Activity Index was minus 0.04 in October, up from minus 0.29 in September. Existing home sales showed a decline of 3.4% in October. In early afternoon trade, the Dow Jones industrial average gained 1 point, or 0.01%, to 17,824. The S&P 500 traded up 2 points, or 0.13%, to 2,091, with energy leading six sectors higher and utilities the greatest laggard. The Nasdaq traded up 13 points, or 0.26%, to 5,117. Gold is seen trading about 0.9% lower, crude oil is seen trading about 0.3% lower, and the U.S. dollar is seen trading about 0.2% higher at about  1:45pm Chicago time.
Friday, there were 348 contracts traded, down from 2,016 contracts traded on Thursday. Open interest – the number of contracts outstanding – on Friday decreased by 176 contracts to 12,520.

China Rice Imports Increase Sharply in First Ten Months of 2015

Nov 23, 2015
China has imported around 2.636 million tons of rice in the first ten months of 2015 (January - December), up about 31% from around 2.013 million tons imported during the same period last year, according to data from China Customs General Administration.
In October 2015, China imported around 322,600 tons of rice, down about 10% from around 357,700 tons imported in September 2015, and up about 79% from around 180,000 tons imported in October 2014.
China has exported around 229,400 tons of rice in first ten months of 2015, down about 3% from around 236,555 tons exported during the same period last year, according to data from the China Customs General Administration.
In October 2015, China exported around 24,200 tons of rice, down about 62% from around 63,000 tons exported in September 2015 and down about 58% from around 57,492 tons exported in October 2014.
China imported about 2.563 million tons of rice and exported about 419,069 tons of rice 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.

Thailand, Vietnam Rice Sellers Alter Some of Their Quotes Today; Other Asian Rice Quotes Remain Unchanged Today

Nov 23, 2015

Thailand rice sellers have increased their quotes for fragrant A1 super rice by about $5 per ton to around $345 - $355 per ton today. Vietnam rice sellers lowered their quotes for 5% broken rice and jasmine rice varieties by about $5 per tons to around $365 - $375 per ton and $445 - $455 per ton respectively. Other Asia rice sellers kept their quotes unchanged from Friday.
5% Broken Rice
Thailand 5% rice is indicated at around $350 - $360 per ton about $15 per ton discount on Vietnam 5% rice shown at around $365 - $375 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.

Thailand 2015-16 Dry Season Paddy Rice Output to Decline Sharply on Lower Acreage

Nov 23, 2015

Thailand's 2015-16 dry season rice crop (November - April) output is expected to decline to around 4 million tons, down about 25% from around 5.3 million tons last year, due to El Nino-induced drought conditions, Bloomberg quoted a statement by the Office of the Agricultural Economics (OAE).
It estimates the acreage for the on-going dry season crop at around 6.36 million rai (around 1.02 million hectares), down about 25% from around 8.48 million rai (around 1.36 million hectares) in the previous year.
The government agency estimates the output from the 2015 main season rice crop (April - December) at around 22.98 million tons, down about 30% from around 32.62 million tons last year. Acreage for the main rice crop was at around 53 million rai (around 8.48 million hectares), down about 9% from around 58 million rai (around 9.32 million hectares) in the previous year.
The government is expecting the drought conditions to continue in 2016 also. It is encouraging farmers to switch to less water-consuming crops such as corn or beans.
It is also expecting the domestic paddy rice prices to increase next year. It is expecting the average price of paddy white rice paddy at around 7,782 baht (around $218) per ton, according to the statement.

Pakistan Rice Exports Increase Sharply in First Four Months of FY 2015-16

Nov 23, 2015
Pakistan exported around 1.03 million tons of rice (including 114,895 tons of basmati and 917,302 tons of non-basmati) in the first four months of FY 2015-16 (July - June), up about 20% from around 859,683 tons (168,955 tons of basmati and 690,718 tons of non-basmati) exported during the same period in FY 2014-15, according to provisional data from the Pakistan Bureau of Statistics (PBS).
However, Pakistan's rice exports declined in terms of value during the said period. Pakistan earned around $446 million during the four months of FY 2015-16, down about 14% from around $517 million earned last year. The decline is attributed to a sharp decline in global rice prices as well as a slow demand.
In October 2015, Pakistan exported around 372,630 tons of rice, up about 42% from around 263,368 tons exported in September 2015 and up about 29% from around 289,884 tons exported in October 2014. In terms of value, Pakistan earned about $147.5 million in October 2015, up about 72% from around $85.6 million earned in September 2015 and down about 5% from their year-ago levels of around $154.7 million.
Pakistan exported around 24,945 tons of basmati rice in October 2015, down about 23% from around 32,410 tons exported in September 2015, and down about 47% from around 47,459 tons exported in October 2014. In terms of value, Pakistan's basmati rice exports earned $26 million in October 2015 2015, down about 32% from around $38 million earned in September 2015, and down about 45% from around $47 million earned in October 2014.
Pakistan exported around 347,685 tons of non-basmati rice in October 2015, up about 51% from around 230,958 tons exported in September 2015 and up about 43% from around 242,415 tons in October 2014. In terms of value, Pakistan's non-basmati rice exports earned $121 million in October 2015, over two-and-half times from around $48 million earned in September 2015, and up about 12% from around $107.85 million earned in October 2014.
Global Rice Quotes
November 24th, 2015

Long grain white rice - high quality
Thailand 100% B grade          360-370           ↔
Vietnam 5% broken    365-370           ↔
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         445-455           ↔
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



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