Argentina's New Government May Reduce Export Taxes on Rice, Says USDA Post
Nov 30, 2015
The newly elected
government of Argentina, which will take office from December 10, 2015, is
proposing a series of agricultural policy changes that could have a significant
impact on domestic and international markets, says USDA Post.
The new government's
proposals are expected to spur exports and lead to significant increase in the
sales of Argentine agricultural commodities, including rice, in the global
market. Currently, export taxes for rice are between 5-10%.
Based on the
President-elect’s agricultural advisory team and other reports, the Post reports
that the government is proposing to eliminate all export license schemes first
developed in 2006; eliminate reference prices and maximum process; eliminate
export taxes for rice and other agricultural products; and streamline all other
taxes, including value-added tax. It is however proposing to gradually reduce
export taxes for soybeans and its by-products by 5% every year.
Taiwan Concludes 2015 U.S. Rice CSQ of 64,634 Tons; Says USDA Post
Nov 30, 2015
Taiwan has completed
tenders for the 2015 U.S. rice country specific quota (CSQ) of 64,634 tons on
November 17, according to the USDA Post. The Simultaneous-Buy and Sell (SBS)
quota of 35,600 tons for the year is already complete.
As of October 29,
2015, Taiwan has completed normal tenders for 53,750 tons or about 83% of the
2015 U.S. rice country specific quota (CSQ) of 64,634 tons. On November 17,
Taiwan completed tenders for the remaining 10,884 tons of U.S. long- grain
brown rice for delivery by June 30, 2016. While four bidders participated in
the tender, the entire 10,884 tons were awarded to one successful bidder at
NT$21,054/MT (around $642.28 per ton).
South Korea's MY 2015-16 Rice Stocks-to-Use Ratio to Reach Record High on
Increased Production, Says USDA Post
Nov 30, 2015
Based on the revised
2015 rice production estimate by the Statistics Korea (KOSTAT), USDA Post
forecasts South Korea's 2015 rice production (basis, milled) at around 4.33
million tons, up about 2% from around 4.24 million tons in 2014 despite a
decline in acreage due to favourable weather conditions and an expected
increase in yields.
The Post expects the
yield per hectare to increase about 4% to around 5.416 tons in 2015 from around
5.2 tons in 2014. Based on the data released by the Statistics Korea (KOSTAT),
the Post forecasts 2015 paddy rice acreage at around 799,000 hectares, down from
around 816,000 hectares in the previous year. South Korea's paddy acreage has
been declining since 2001 due to a greater demand from housing and building
complexes and conversion of rice paddy land to upland for production of more
profitable cash crops.
The Post forecasts
South Korea's MY 2015-16 ending stocks (November - October) at around 1.6
million tons, up about 38% from an estimated 1.14 million tons in MY 2014-15.
Consequently, the Post forecasts MY 2015-16 stocks-to-use ratio (ending
stocks/consumption) at a record 36% due to an expected decline in consumption.
Argentina's New Government May Reduce Export Taxes on Rice, Says USDA Post
Nov 30, 2015
The newly elected
government of Argentina, which will take office from December 10, 2015, is
proposing a series of agricultural policy changes that could have a significant
impact on domestic and international markets, says USDA Post.
The new government's
proposals are expected to spur exports and lead to significant increase in the
sales of Argentine agricultural commodities, including rice, in the global
market. Currently, export taxes for rice are between 5-10%.
Based on the
President-elect’s agricultural advisory team and other reports, the Post reports
that the government is proposing to eliminate all export license schemes first
developed in 2006; eliminate reference prices and maximum process; eliminate
export taxes for rice and other agricultural products; and streamline all other
taxes, including value-added tax. It is however proposing to gradually reduce
export taxes for soybeans and its by-products by 5% every year.
Thailand Rice Exports Decline Sharply in First Ten Months of 2015
Nov 30, 2015
Thailand exported
around 7.814 million tons of rice in the first ten months of 2015, down about 11%
from around 8.77 million tons exported during the same period last year,
according to data from Thai Rice Exporters Association (TREA). In value terms,
Thailand rice exports earned around $3.643 billion, down about 15% from around
$4.31 billion earned during the same period last year.
In October 2015,
Thailand exported around 1.2 million tons of rice, up about 67% from around
720,554 tons exported in September 2015, and slightly down about 1% from around
1.214 tons exported in October 2014. The increase can be mainly attributed to
an increased demand from the Philippines and Indonesia.
In value terms,
Thailand’s rice exports earned about $487.33 million from total rice exports
during the month, up about 46% from around $332.89 million earned in September
2015, and up about 17% from around $415.36 million earned in October 2014.
During the month,
white rice exports accounted for around 624,268 tons (about 52% of total
October 2015 exports), Hom Mali rice exports accounted for about 100,176 tons
(about 8% of total October exports), brokens accounted for 150,597 tons (about
12.5% of total October 2015 exports), glutinous variety accounted for 6,355
tons (about 0.5% of total October 2015 exports), parboiled rice accounted for
about 312,337 tons (about 26% of total October 2015 exports) and husked/brown
rice accounted for about 10,060 tons (about 0.8% of total October 2015
exports). Average export prices of all varieties of rice, except the
parboiled rice, declined or remained stable during the month.
News have been shared with permission of ORYZA.com with thanks
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