Italy Approves New Law on Agricultural Biodiversity; More Rice Varieties to
Get PDO, PGI Denominations
Dec 01, 2015
The Italian Parliament
has approved the institution of a 'National System of Agricultural Biodiversity
and Food' on November 30, 2015, according to local sources. It has also
approved for the institution of a Protection Fund to support the actions of
farmers.
According to the law,
the Council for Agricultural Research and analysis of the agrarian economy
(CREA) will intervene in the research activities related to agricultural
biodiversity and food over the next three years to protect and develop the
agricultural sector.
Farmers unions have
welcomed the decision. "The recognition of our typical and traditional
products related to agriculture Italian territory becomes a real investment in
competitiveness," said the Italian Farmers Union Coldiretti.
The decision is
expected to protect the locally developed rice varieties. Italy currently has
4,886 traditional foods developed in local regions, including 272 food
varieties are Protected Designation of Origin (PDO) and Protected Geographical
Indications (PGI) specialties. Of these, Riso di Baraggia biellese e vercellese
PDO, Vialone Nano PGI, Riso delta del Po PGI are famous rice varieties. The PDO
and GPI denominations allow to certify high quality standard in rice farming and
milling, thus permitting to get a higher final price.
The new law allows
rice produced in many other regions also get PDO and PGI denominations.
Italy Approves New Law on Agricultural Biodiversity; More Rice Varieties to
Get PDO, PGI Denominations
Dec 01, 2015
The Italian Parliament
has approved the institution of a 'National System of Agricultural Biodiversity
and Food' on November 30, 2015, according to local sources. It has also
approved for the institution of a Protection Fund to support the actions of
farmers.
According to the law,
the Council for Agricultural Research and analysis of the agrarian economy
(CREA) will intervene in the research activities related to agricultural
biodiversity and food over the next three years to protect and develop the
agricultural sector.
Farmers unions have
welcomed the decision. "The recognition of our typical and traditional
products related to agriculture Italian territory becomes a real investment in
competitiveness," said the Italian Farmers Union Coldiretti.
The decision is
expected to protect the locally developed rice varieties. Italy currently has
4,886 traditional foods developed in local regions, including 272 food
varieties are Protected Designation of Origin (PDO) and Protected Geographical
Indications (PGI) specialties. Of these, Riso di Baraggia biellese e vercellese
PDO, Vialone Nano PGI, Riso delta del Po PGI are famous rice varieties. The PDO
and GPI denominations allow to certify high quality standard in rice farming
and milling, thus permitting to get a higher final price.
The new law allows
rice produced in many other regions also get PDO and PGI denominations.
Japan Lowers 2016 Rice Production Target by 1% to 7.43
Million Tons
Dec 01, 2015
Japan's Agriculture Ministry
has lowered the country's rice production target in 2016 to around 7.43 million
tons from last year's 7.51 million tons in line with the falling consumption
demand, according to local sources.
The Ministry has
accordingly, reduced individual targets for the country's 47 prefectures, some
officials were quoted as saying.
The government has
been lowering the rice production target every year since 2010. Currently, the
government is encouraging farmers to lower production for human consumption and
increase that for feed. Rice production for human consumption fell below the
target in 2015, but domestic rice consumption also declined significantly
during the year, according to Ministry sources.
Rice utilization for
feed in the first eleven months of MY 2014-15 (October - September) reached
around 1.068 million tons from around 732,893 tons in MY 2013-14, USDA Post
reported in a recent report.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Remain
Under Pressure as Demand Remains Weak
Dec 02, 2015
Chicago rough rice
futures for Jan delivery settled 19 cents per cwt (about $4 per ton) lower at
$11.715 per cwt (about $258 per ton). The other grains finished the day mostly
higher; Soybeans closed about 0.9% higher at $8.8925 per bushel; wheat finished
about 0.8% lower at $4.7150 per bushel, and corn finished the day about 0.4%
higher at $3.7375 per bushel.
U.S.
stocks held higher on Tuesday, the first day of trade for December, as
investors eyed data ahead of major central bank news expected later in the
week. Stocks came off session highs after the ISM U.S. November Manufacturing
PMI came in at 48.6, in contraction territory and below the expected 50.5 read.
The print was the worst since June 2009 and the first time the index fell below
50 in three years. Investors also eyed late-morning news that five people were
injured when a bomb exploded near an Istanbul metro station Tuesday, according
to the district mayor. In other economic news, construction spending rose 1.0%
for October, topping estimates of 0.6%. The U.S. Markit PMI for November was
52.8, above the flash read of 52.6 but below the final October print of 54.1.
European
stocks came off session highs to close mostly lower, while major Asian indexes
closed higher. Japan's Nikkei topped the psychologically key 20,000 level for
the first time in three months. China's official manufacturing purchasing
managers index showed a slight decline in November to 49.6, while the private
Caixin/Markit China manufacturing PMI contracted for the ninth straight month
in November at 48.6 but more slowly than in October. In early afternoon trade,
the Dow Jones industrial average rose 106 points, or 0.60%, at 17,827. The
S&P 500 gained 12 points, or 0.6%, to 2,093, with health care leading all
10 sectors higher. The Nasdaq rose 27 points, or 0.5%, to 5,136. Gold is seen
trading about 0.1% higher, crude oil is seen trading nearly about 0.1% higher,
and the U.S. dollar is seen trading about 0.4% lower at about 1:00pm
Chicago time.Monday, there were 2,450 contracts traded, up from 729 contracts
traded on Friday. Open interest – the number of contracts outstanding – on
Monday increased by 125 contracts to 12,669.
Thai Government Conducts First Rotten Rice Auction; Two Local Firms Win Bid
to Buy 37,413 Tons
Dec 01, 2015
Two private Thai firms
won the bid to buy around 37,413 tons of stockpiled rotten rice worth 198
million baht (around $5.53 million) in the first auction conducted by the
government of Thailand today, according to local sources.
The Commerce Ministry
did not specify when the sale would be approved. "We'll have to see how
smoothly this auction goes and then we will see whether we will hold the next
one and when," said the Commerce Permanent Secretary.
The government earlier
told that it would sell about 2 million tons of rotten rice from stockpiles,
for industrial use, in quantities between 1,000 and 6,000 tons.
Thailand holds about
13 million tons of rice stocks accumulated from the previous government's rice
pledging scheme, of which about 6 million tons are "below-standard or
rotten" and are judged unfit for human consumption, according to a
Commerce Ministry statement.
The government of
Thailand sold around 4.6 million tons of stockpiled rice raising around 49
billion baht (around $1.4 billion) in the ten auctions conducted since it took
over in May 2014.
Vietnam, Pakistan Rice Sellers Alter Some of Their Quotes Today; Other
Asian Rice Quotes Remain Unchanged
Dec 01, 2015
Vietnam rice sellers lowered their quotes for jasmine rice by about
$10 per ton to around $435 - $445 per ton today. Pakistan rice
sellers increased their quotes for 5% and 25% broken rice varieties by about $5
per ton to around $320 - $330 per ton and $295 - $305 per ton respectively.
Other Asian 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
$350 - $360 per ton, about $30 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 - $350 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, on par with Pakistan broken
sortexed rice shown at around $280 - $290 per ton.
India Average Wholesale Rice Prices Increase in November 2015 on Concerns
of Low Production
Dec 01, 2015
India average
wholesale rice prices which declined in October 2015 with the beginning of the
kharif (June - December) rice harvest, have increased in November on concerns
of lower output due to El Nino-induced below-average monsoon rains in many rice
growing areas.
Average monthly
wholesale rice prices in India increased to around Rs.2,614.61 per quintal in
November 2015, up about 1% from around Rs.2,588.89 per quintal in October 2015,
and down about 6% from their year-ago levels of around Rs.2,779.28 per quintal.
In terms of USD per
ton, wholesale rice prices in India stand at around $396 per ton (using current
exchange rates) in November 2015, slightly down from around $399 per ton (using
historical exchange rates) in October 2015, and down about 12% from around $448
per ton (using historical exchange rates) in November 2014.
Analysts are expecting
India’s average prices to increase if India’s production is dampened by
intensifying El Nino weather pattern, which is likely to cause drought
conditions in Asia. The government of India has forecasted the 2015-16 kharif
(June - December) rice production at around 90.6 million tons, slightly down
from around 90.86 million tons in 2014-15.
Global
Rice Quotes
December 2nd, 2015
Long grain white rice - high quality
Thailand 100% B grade 360-370
↔
Vietnam 5% broken 370-380 ↔
India 5% broken 350-360
↔
Pakistan 5% broken 320-330 ↔
Myanmar 5% broken 405-415 ↔
Cambodia 5% broken 415-425
↔
U.S. 4% broken 485-495
↔
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 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% 700-710
↔
Vietnam Jasmine 435-445
↔
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 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
Oryza U.S. Rough Rice Recap - Prices Dip Amid Weak Demand
Dec 02, 2015
The U.S. cash market
was weaker today falling in sympathy with the futures market however most farmers
remain unfazed by lower prices, continuing to hold out until they are forced to
sell by their banks or to make room for new crop.
Analysts note that
there is not much news on the demand front other than the fact the U.S. will
need more for prices to improve. Many in the industry are now hopeful that
demand from either Venezuela, Colombia, Iran, and Iraq show up after the first
of the year when supplies are tighter is South America.
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