10th December,2015 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

Average European Rice Quotations Increase in October 2015 Despite Fall in International Prices

The European rice quotations for Japonica and Indica milled rice varieties have increased in the CY 2015-16 while the average international prices of the same varieties have declined, according to the data released by the EU Community price dashboard in October.

The average monthly EU quotations for Japonica milled variety reached around 667 euros (about $726) per ton in October 2015, up about 19.2% y/y and up about 2.7% m/m. While the average international prices of the same variety during the month stood at around 743 euros (around $835) per ton, down about 19.7% y/y and down about 0.6% m/m.

The average monthly EU quotations for Indica milled variety reached around $585 euros (about $637) per ton in October 2015, up about 21.9% y/y and up about 0.9% m/m. While the average international prices of the same variety during the month stood at around 328 euros (around $369) per ton,  down about 15.6% y/y and up about 3.1% m/m.

Average prices include prices of Japonica varieties from Spain and Indica varieties Italy.

Global Rice Quotes

December 9th, 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    320-330           ↔

Myanmar 5% broken   405-415           ↔

Cambodia 5% broken             415-425           ↔

U.S. 4% broken           485-495           ↔

Uruguay 5% broken    515-525           ↔

Argentina 5% broken 530-540           ↔

Long grain white rice - low quality

Thailand 25% broken 335-345           ↔

Vietnam 25% broken 355-365           ↔

Pakistan 25% broken 295-305           ↔

Cambodia 25% broken           400-410           ↔

India 25% broken       320-330           ↔

U.S. 15% broken         515-525           ↔

Long grain parboiled rice

Thailand parboiled 100% stxd            345-355           ↔

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%          695-705           ↔

Vietnam Jasmine         440-450           ↔

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    285-295           ↔

Cambodia A1 Super   355-365           ↔

India 100% broken stxd         280-290           ↔

Egypt medium grain brokens NQ      ↔

U.S. pet food 330-340           ↔

Brazil half grain          NQ      ↔

All prices USD per ton, FOB vessel, oryza.com

EU Rice Imports from Asian LDCs Increase Sharply in First Two Months of 2015-16

Dec 09, 2015

The European Union's (EU) rice imports from the Least Developed Countries (LDCs) of Asia such as Cambodia and Myanmar under the Everything But Arms (EBA) Agreement have reached around 80,794 tons in the first two months of the crop year 2015-16 (September 2015 - August 2016), up about 23% from around 65,816 tons imported during the same period last year, according to data from the Ente Nazionale Risi (ENR), the Italian National Agency for Rice.

The ENR data shows that imports from Cambodia (which account for about 83% of total imports from Asian LDCs in September – October 2015) increased about 24% to around 66,789 tons from around 54,048 tons during the same period last year. On the other hand, rice imports from Myanmar (which account for about 16% of total imports from Asian LDCs in the first two months of 2015) have increased about 22% to around 12,633 tons from around 10,378 tons during the same period last year.

Asian Rice Quotes Remain Unchanged Today

Dec 09, 2015

Asian rice sellers have 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 $25 per ton premium on Pakistan 5% rice shown at around $320 - $330 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 $320 - $330 per ton, about $25 per ton premium on Pakistan 25% rice shown at around $295 - $305 per ton.

Parboiled Rice            

Thailand parboiled rice is indicated at around $345 - $355 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 $280 - $290 per ton, about $5 per ton discount to Pakistan broken sortexed rice shown at around $285 - $295 per ton

Italy 2015-16 Rice Imports to Increase Despite Higher Production

Dec 09, 2015

Ente Nazionale Risi (ENR), the Italian National Agency for Rice, estimates Italy's total rice imports in CY 2015-16 (September - August) are estimated at around 152,000 tons, up about 17% from around 129,913 tons in CY 2014-15.

While imports from the EU are estimated to decline about 4% y/y to around 30,000 tons, imports from countries outside the EU are estimated to increase about 24% to around 122,000 tons.

The ENR estimates Italy to produce around 1.47 million tons of paddy (around 904,068 tons, basis milled) in 2015-16 compared to around 1.37 million tons (around 870,104 tons, basis milled) in 2014-15. Long-A, Long-B and Round paddy production are estimated at around 820,765 tons, 247,825 tons and 404,209 tons respectively.

The agency estimates the total paddy rice acreage in the country to increase about 3.5% to around 227,329 hectares. Long-A, Long-B and Round paddy acreages are estimated at around 135,338 hectares, 35,044 hectares and 56,946 hectares respectively.

The ENR estimates the 2015-16 yield to increase to around 6.68 tons per hectare from last year's 6.45 tons per hectare. Long-A, Long-B and Round paddy yields are estimated at around 6.26 tons per hectare, 7.3 tons per hectare and 7.3 tons per hectare respectively.

The agency estimates total stocks in 2015-16 at around 165,000 tons (including 104,000 tons of Long-A, 31,000 tons of Long-B and 30,000 tons of round paddy), up about 24% from last year's 132,686 tons.

USDA Post Estimates India 2015 Rice Exports at Record 11.5 Million Tons

Dec 09, 2015

USDA Post estimates India's 2015 rice exports at a record 11.5 million tons, up from 10.91 million tons in 2014, based on the exports pace until September 2015. It estimates MY 2014-15 (October-September) exports at 11.87 million tons.

It estimates MY 2015-16 and 2016 rice exports to decline sharply to 8 million tons due to expected fall in MY 2015-16 production.

The Post estimates India's MY 2015-16 milled rice production at around 100 million tons, down about 4.58% from an estimated 104.8 million tons in MY 2014-15 and down about 3.4% from USDA's official estimates of around 103.5 million tons due to poor 2015 monsoon and losses recent rains in Southern India damaging the standing crop.

The 2015 kharif rice harvest is almost complete and official yield reports will be available by January 2016. The output is expected to decline by about 5-8 million tons due to drought or recent rains. Planting of rabi rice crop is underway and will continue till December 2015.

The government procurement is underway and the government agencies have procured about 13.87 million tons until November 30, 2015, compared to around 10.64 million tons procured during the same period last year. Based on market sources, the Post reports that higher prices (above MSP) in drought-affected areas are likely to impact  the government procurement. Indian government targets to procure 30 million tons of rice in MY 2015-16.

Domestic prices have increased marginally in November 2015 despite an increase in supplies due to concerns of lower yields, according to the Post.

The Post estimates India MY 2015-16 consumption and ending stocks at 98 million tons and 11.6 million tons respectively, down from 98.07 million tons and 17.59 million tons in MY 2014-15. The decline is due to tight domestic supplies.

U.S. Cash Rice Market Steady After Bullish USDA WADSE Report

Dec 10, 2015

The U.S cash market was mostly unchanged today, despite the USDA releasing a slightly bullish World Agriculture Supply and Demand Estimate for long grain rice.

The USDA cut their long grain import estimate by 1 million cwt (about 45,000 tons) which in turn decrease their long grain ending stocks number by the same amount, pegging carryover at 20.8 million cwt (about 943,000 tons), while leaving their average farm gate price unchanged from last month at $11.50-$12.50 per cwt (about $253-$276 per ton).

Bangladesh Doubles Duty on Rice Imports to 20% to Protect Local Farmers

Dec 09, 2015

The government of Bangladesh has doubled the duty on rice imports to 20% from the current 10% as part of its efforts to curb increasing rice imports from India as well as to protect the interests of farmers, according to local sources.

The National Board of Revenue (NBR) has imposed a 10% regulatory duty on rice imports in addition to the existing 10% customs duty. The revised duty is effective with immediate effect, according to a notice from the NBR.

The 20% duty will reportedly be imposed on husked (brown) rice, fortified rice kernels, broken rice, and on semi-milled or milled rice, whether or not polished or glazed during import stage, according to local sources.

The government reportedly took the decision to revise the duty structure following complaints from farmers and millers about declining paddy and rice prices due to increasing imports. Higher supplies from the current harvests has also partly contributed to fall in prices.

"Usually, rice price decreases in India whenever any such move is taken in Bangladesh. If the rice price does not fall in India, the duty hike will surely help local growers get proper price required for them to be in the market,” the General Secretary of the Bangladesh Auto, Major and Husking Mill Owners was quoted as saying.

The Bangladesh government imposed a duty of 10% on rice imports in May 2015 after rice imports by private traders surged significantly due to low global prices. Bangladesh traders imported over 1.4 million tons of rice in FY 2014-15 (July - June) compared to only 374,560 tons imported in the whole year of 2013-14.

Bangladesh rice imports declined about 33% y/y to around 203,000 tons of rice during the period July 1 - December 6, 2015, according to Food Planning and Monitoring Unit (FPMU) under the Food Ministry.

Exclusive News have been shared with written permission of ORYZA.com with thanks