Laos
Plans to Export Over 10,000 Tons of Rice to China Yearly
Dec
15, 2015
Laos, which officially exported its
first batch of rice to China last week, is planning to increase its rice
exports to China to over 10,000 tons a year, according to Reuters.
The Lao's Savannkhet province
received an order for 8,000 tons of rice from China recently. The Governor of
the Province told reporters that they are aiming to increase production to meet
the export demand.
He noted that the current export
quota to China is only 8,000 tons but they are seeking to enhance the quota due
to the higher purchasing power of the Chinese. According they are planning to
increase the production of quality rice over the next few years.
The current rice export scheme is
being run by the Lao-China cooperation project, which was signed by the Chinese
government and the provincial authorities to boost bilateral cooperation in the
field of agriculture.
Laos unofficially sells 300,000 to
400,000 tons of paddy rice to neighboring countries through land borders every
year.
The UN's FAO estimates Laos 2015
paddy rice production to increase about 3% y/y to around 3.4 million tons. The
USDA estimates Laos to producer around 2.976 million tons of paddy rice (around
1.875 million tons, basis milled) from around 958,000 hectares in 2015.
India
Rice Export Earnings Decline Sharply in First Seven Months of FY 2015-16
Dec
16, 2015
India's total rice export earnings
have declined to around $3.57 billion in the first seven months (April -
October) of FY 2015-16, down about 20% from around $4.49 billion during the
same period in FY 2014-15, according to data from the Agricultural and
Processed Food Products Export Development Authority (APEDA).
India's total rice exports (basmati
and non-basmati) in the first seven months of FY 2015-16 have declined
about 3% to around 6.2 million tons from around 6.39 million tons during the
same period in FY 2014-15.
The decline in earnings is sharp
compared to the decline in tonnage due to a significant decline in average
export prices, according to the APEDA. Average basmati rice export prices
declined by about 34% to around $910 per ton during the seven-month period from
around $1,385 per ton last year. On the other hand, average non-basmati rice
prices declined about 12% to around $366 per ton in April-October 2015 period
from around $415 per ton last year.
India exported around 2.39 million
tons of basmati rice in April-October 2015 period, up about 26% from around
1.89 million tons exported during the same period last year. The sub-continent
exported around 3.82 million tons of non-basmati rice in the seven-month
period, down about 15% from around 4.49 million tons last year. The decline in
non-basmati rice exports can be attributed to a stiff competition with
Thailand, Vietnam and Pakistan.
Earnings from basmati rice exports
have declined to around $2.17 billion in April-October 2015 period from around
$2.62 billion during the same period last year. Earnings from non-basmati rice
exports have declined to around $1.4 billion in April-October 2015 period from
around $1.87 billion during the same period last year.
Global
Rice Quotes
December 16th, 2015
Long grain white rice - high quality
Thailand 100% B grade 350-360
↔
Vietnam 5% broken 370-380 ↔
India 5% broken 355-365
↔
Pakistan 5% broken 330-340
↓
Myanmar 5% broken 410-420 ↔
Cambodia 5% broken 425-435 ↔
U.S. 4% broken 480-490
↔
Uruguay 5% broken 520-530 ↔
Argentina 5% broken 515-525 ↔
Long grain white rice - low quality
Thailand 25% broken 335-345 ↔
Vietnam 25% broken 355-365 ↔
Pakistan 25% broken 300-310 ↓
Cambodia 25% broken 400-410
↔
India 25% broken 330-340
↑
U.S. 15% broken 500-510
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 345-355
↔
Pakistan parboiled 5% broken stxd 405-415
↔
India parboiled 5% broken stxd 350-360
↔
U.S. parboiled 4% broken 500-510
↔
Brazil parboiled 5% broken 545-555
↔
Uruguay parboiled 5% broken NQ
↔
Long grain fragrant rice
Thailand Hommali 92% 690-700
↔
Vietnam Jasmine 450-460
↔
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 830-840 ↔
Brokens
Thailand A1 Super 320-330
↔
Vietnam 100% broken 335-345
↑
Pakistan 100% broken stxd 290-300
↔
Cambodia A1 Super 355-365 ↔
India 100% broken stxd 285-295
↑
Egypt medium grain brokens NQ
↔
U.S. pet food 280-290 ↔
Brazil half grain NQ
↔
All prices USD
per ton, FOB vessel, oryza.com
Asian
Rice Quotes Mixed Today
Dec
16, 2015
Vietnam rice sellers have increased their quotes for 100% broken rice
variety by about $5 per ton to around $335 - $345 per ton today. India rice
sellers increased their quotes for 25% broken rice and 100% broken rice
varieties by about $5 per ton each to around $330 - $340 per ton, $285 - $295
per ton respectively. Pakistan rice sellers lowered
their quotes for 5% broken rice and 25% broken rice varieties by about $5 per
ton each to around $330 - $340 per ton and $300 - $310 per ton respectively.
Other Asian rice sellers have kept their quotes unchanged today from
yesterday.
5% Broken Rice
Thailand 5% rice is indicated at
around $340 - $350 per ton about $30 per ton discount on Vietnam 5% rice shown
at around $370 - $380 per ton. India 5% rice is indicated at around $355 - $365
per ton, about $25 per ton premium on Pakistan 5% rice shown at around $330 -
$340 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 $330
- $340 per ton, about $30 per ton premium on Pakistan 25% rice shown at around
$300 - $310 per ton.
Parboiled
Rice
Thailand parboiled rice is
indicated at around $345 - $355 per ton. India parboiled rice is indicated at
around $350 - $360 per ton, about $55 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 $320 - $330 per ton, about $15 per ton discount to Vietnam
100% broken rice shown at around $335 - $345 per ton. India's 100% broken rice
is shown at around $285 - $295 per ton, about $5 per ton discount to Pakistan
broken sortexed rice shown at around $290 - $300 per ton.
Oryza
U.S. Rough Rice Recap - Offers from Resellers Inch Higher with the Futures
Market
Dec
17, 2015
The U.S. cash market was slightly
firmer today with offers from resellers increasing with the futures market;
however, most farmers remain on the sidelines, waiting for prices to improve.
Analysts note that buyers and
sellers remain about $0.50-$1.00 per cwt apart on price and they do not expect
that to change between now and the first of the year.
Oryza
CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Recover from Early
Loss; FOMC Raises Rates, Pressuring US Grain Prices
Dec
17, 2015
Chicago rough rice futures for Jan
delivery settled 5.5 cents per cwt (about $1 per ton) higher at $10.955 per cwt
(about $242 per ton). The other grains finished the day lower; Soybeans closed
about 0.5% lower at $8.6325 per bushel; wheat finished about 2.2% lower at
$4.8350 per bushel, and corn finished the day about 2% lower at $3.6975 per
bushel.
U.S. stocks traded higher
Wednesday, amid pressure from low oil prices, after the Federal Reserve raised
rates for the first time in nearly a decade. The U.S. central bank was widely
expected to raise the fed funds rate by a quarter point Wednesday, while
emphasizing that the pace of tightening will be gradual. The hike was the first
since June 2006. In economic news, housing starts rose 10.5% in November, while
building permits rose 11%.
Mortgage refinances rose 1% on rate fears.
U.S. industrial production saw its sharpest decline in more than three and a
half years in November as utilities dropped sharply, a sign of weakness that
could moderate fourth-quarter growth. Industrial output slipped 0.6% after a
downwardly revised 0.4% dip in October, the Federal Reserve said in a Reuters
report Wednesday, marking the third straight month of declines. Capacity
utilization was 77.0%.With about half an hour to the Fed announcement, the Dow
Jones industrial average traded up 34 points, or 0.2%, to 17,558. The S&P
500 traded up 7 points, or 0.36%, at 2,050, with utilities leading seven
advancers and energy the greatest decliner. The Nasdaq composite rose 12
points, or 0.24%, to 5,007. Gold is seen trading about 0.7% higher, crude oil
is seen trading about 4.8% lower, and the U.S. dollar is seen trading
slightly higher at about 1:00pm Chicago time.
Tuesday, there were 1,232 contracts
traded, down from 2,072 contracts traded on Monday. Open interest – the number
of contracts outstanding – on Tuesday increased by 16 contracts to 15,297.
Thai
Commerce Minister Expects 2015 Rice Export Earnings to Fall Below Target
Dec
16, 2015
Thailand's Commerce Minister is
expecting earnings from the 2015 rice exports to decline to around $4.85
billion compared to the targeted $5.1 billion, Reuters quoted local sources.
The Minister, however, told
reporters that the government is hopeful of achieving the 10 million ton rice
export target this year. She noted that the Ministry set a target of exporting
10 million tons worth $5.1 billion, but is expecting the actual exports to
reach 10 million tons, but of worth $4.85 billion.
The fall in earnings can be
attributed to a decline in export rice prices. Prices of Thai 100% B rice fell
about 16% to around $355 per ton compared to around $425 last year.
She noted that rice exports would
face many challenges in 2016 due to "extending drought conditions,
anticipated low oil and commodity prices and weak purchasing power of importing
countries due to the global economic slowdown."
Owing to the expected challenges,
the Ministry set an export target of 9 million tons worth $4.78 billion, she
said. "The Thai government was pursuing new rice deals with many countries
including China, Indonesia, the Philippines, South Africa, Iraq and Iran. Next
year it wants to expand premium rice shipments into high-purchasing-power
markets such as Hong Kong, Singapore and Japan," she was quoted.
The Thai government is still facing
the challenge of selling 13 million tons of stockpiled rice. It aims to clear
the stocks over the next two years.
Rice
Stocks in Philippines Increase Sharply in November 2015
Dec
16, 2015
Rice stocks in the Philippines
continued to increase for the second consecutive month in November 2015 after
declining for four months continuously, according to the Bureau of Agricultural
Statistics (BAS). The increase can be attributed to increasing imports.
Total rice stocks in the
Philippines as of November 1, 2015 stood at around 3.11 million tons, up about
41% from around 2.2 million tons recorded on October 1, 2015, and up about 5%
from around 2.95 million tons recorded during the same period last year.
According to the BAS, household
stocks (which account for about 48.8% of total rice stocks in the country)
stood at around 1.52 million tons as of November 1, 2015, down about 6% from
year-ago levels of around 1.62 million tons. Commercial warehouse rice stocks
(which account for about 28.4% of total stocks) have reached around 880,000
tons as of November 1, 2015, down about 2% from their year-ago levels of around
900,000 tons. The rice stocks with the National Food Authority (NFA) (which
account for 22.8% of total stocks) stood at around 710,000 tons, up about 65%
from around 430,000 tons recorded in October 2014.
Month-on-month, household rice
stocks are up about 95%, commercial warehouse rice stocks are up about 31% and
NFA rice stocks - in which about 88.3% are imported rice - are down about 5%,
according to the BAS.
The BAS says that the Philippines'
rice stocks as of November 1, 2015 are enough to last for 91 days (household
and household stocks are enough for 44 days, commercial warehouses stocks are
enough for 26 days and stocks with NFA are enough for 21 days).
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