China to Sign Deal to Purchase One Million Tons of White and Jasmine Rice
from Thailand
Dec 02, 2015
China and Thailand
will reportedly sign deals to purchase one million tons of white and jasmine
rice, and 200,000 tons of rubber from Thailand, according to local sources.
China will also reportedly sign a Memorandum of Understanding (MoU) with
Thailand to build a 900-kilometer railway line from the Thai-Lao border to
Bangkok.
The Thai Commerce
Minister told reporters that rice and rubber deals would be signed on December
3 or 4. She noted that the sales would be based on the current market prices,
and the deliveries are expected to finish by the end of next year.
The two sides are
reportedly working out the details of the cost of the proposed railway project
and the loan details. China has estimated the project cost at around 468
billion (around $13 billion) and has offered to finance the project at 2.5%
interest. However, Thailand is understood to be estimating the project cost at
around 369 billion (around $10.32 billion) and is seeking a loan at 2%
interest.
Argentina Rice Exports More Than Double in First Eight Months of 2015
Dec 02, 2015
Argentina has exported
around 899,299 tons of rice in the first eight months of 2015 (January -
August), over twice more from around 431,897 tons exported during the same
period in 2014, according to data from the Ministry of Agriculture in
Argentina.
In August 2015,
Argentina exported around 325,001 tons of rice, up about 2.3 times from around
141,730 tons exported in July 2015 and 12 times more from around 26,849 tons
exported in August 2014.
Argentina exported
around 91,500 tons of rice to Iraq (about 28% of total August 2015 exports),
around 59,497 tons of rice to Chile (about 18% of August 2015 exports), around
54,967 tons of rice to Brazil (about 17% of August 2015 exports), around 58,133
tons of rice to Cuba (about 18% of August 2015 exports), around 22,840 tons of
rice to Bolivia (about 7% of August 2015 exports) and around 15,906 tons of
rice to Senegal (about 5% of August 2015 exports) in August 2015.
Asian Rice Quotes Remain Unchanged Today
Dec 02, 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 $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 - $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, on par with Pakistan broken
sortexed rice shown at around $280 - $290 per ton.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Tumble to
Multi-Month Low as Demand Remains Slack and as Crude Exerts Bearish Pressure on
US Grains
Dec 03, 2015
Chicago rough rice
futures for Jan delivery settled 32 cents per cwt (about $7 per ton) lower at
$11.395 per cwt (about $251 per ton). The other grains finished the day with
mixed results; Soybeans closed about 0.3% higher at $8.9225 per bushel; wheat
finished about 0.9% lower at $4.6725 per bushel, and corn finished the day
about 0.9% lower at $3.7025 per bushel.
U.S.
stocks traded in a range Wednesday after a solid day of gains as investors eyed
data and a speech by Fed Chair Janet Yellen. Stocks continued to trade mixed,
while the U.S. dollar index spiked to hit its highest level since April 2003
after Yellen said in prepared remarks that the U.S. economy has come a long
way, but the Fed's decision on rates could still be swayed by data before its
December meeting. The Fed's beige book on the economy is due at 2 p.m. The U.S.
dollar index traded near 100.1 after earlier touching a high of 100.51, topping
the 100.39 high from March to briefly trade at levels not seen in more than 12
years.
The
euro remained below $1.06, while the yen traded near 123.59 yen against the
dollar as of 12:41 p.m. The Federal Open Market Committee meets Dec. 15 to 16
and could raise short-term interest rates for the first time in nearly a
decade. Investors are also looking ahead to the European Central Bank's
decision on monetary policy due Thursday morning ET.
Ahead
of Friday's November jobs report, ADP data showed November private payrolls
topped expectations at 217,000. Revised third-quarter productivity rose 2.2%,
while unit labor costs rose 1.8%.In afternoon trade, the Dow Jones industrial
average declined 44 points, or 0.25%, to 17,843. The S&P 500 traded down 8
points, or 0.4%, to 2,094, with energy leading nine sectors lower and
information technology the only advancer. The Nasdaq composite traded up 6
points, or 0.12%, to 5,162. Gold is seen trading about 0.9% lower, crude oil is
seen trading about 4.2% lower, and the U.S. dollar is seen trading about 0.3%
higher at about 1:00pm Chicago time.
Tuesday, there were
1,591 contracts traded, down from 2,450 contracts traded on Monday. Open
interest – the number of contracts outstanding – on Tuesday increased by 311
contracts to 12,980.
South Korea Seeks to Buy 55,555 Tons of U.S. Brown Rice in Tenders
Dec 02, 2015
South Korea
Seeks to Buy 55,555 Tons of U.S. Brown Rice in Tenders
South Korea's state
run Agro Fisheries & Food Trade Corporation (KAFTC) is seeking to buy about
55,555 tons of U.S. brown rice in tenders for delivery between March 31, 2016
and April 30, 2016, according to a statement on its website.
The details of the
tonnage and volume of the rice sought:
Registration of
tenders will close at 4.00 p.m on December 8, 2015. Electronic bidding will
take place on December 9, 2015 between 10:00 and 11:30 a.m.
Oryza U.S. Rough Rice Recap - Softer Prices Seem Amid Insufficient Export
Demand
Dec 03, 2015
The U.S. cash market
was materially weaker falling again with today’s selloff in the futures market
amid a lack of sufficient export demand.
Analysts note that
drop in cash prices has done little to faze farmers who are still holding out
for higher prices as those who were planning on selling in 2015 have likely
already done so.
Analysts do not
expect tomorrow’s export sales to show any significant increase in
demand.
India Rice Procurement Increases Sharply in First Two Months of KMS 2015-16
Despite Likely Low Output, Say Food Ministry Officials
Dec 02, 2015
Rice procurement, by
the Food Corporation of India (FCI) and state government agencies, for the
kharif marketing season (KMS) 2015-16 (October - September), which began on
October 1, 2015 has increased significantly in the first two months compared to
last year, according to the Financial Express.
The FCI and the
government agencies together have procured around 14.06 million tons of rice as
of December 1, 2015, up about 31% from around 10.7 million tons procured during
the same period last year.
Procurement has been
reasonably good despite a likely lower output this year due to below-average
monsoon rains, according to some Food Ministry officials. They attributed the
higher procurement to a decline in prices of common variety of rice in various
markets across the country. “The farmers prefer to sell their grain to agencies
rather than giving it the private traders in Punjab and Haryana,” they were
quoted.
In Punjab, which
contributes the highest volume of rice and wheat to the central pool, the FCI
and the state agencies have procured around 9.3 million tons of rice (milled
equivalent of paddy) so far, compared to around 7.7 million tons procured last
year. Agencies have procured around 2.8 million tons of rice (milled equivalent
of paddy) in Haryana compared to around 2.3 million tons last year. They
reportedly procured 380,000 tons, 490,000 tons and 76,933 tons from Uttar
Pradesh, Telangana and Kerala respectively. While procurement just began in
Chhattisgarh, it is yet to begin in the states of Odisha, West Bengal and
Assam.
The government of
India fixed the minimum support price (MSP) of common variety of paddy at
around $1,410 per quintal (around $213 per ton) and that of Grade A paddy at
$1,450 per quintal (around $219 per ton) for the 2015-16 kharif season.
Based on the pace of
procurement, the Food Ministry officials expressed confidence that the
government may surpass the target of 30 million tons for KMS 2015-16. The FCI
and government agencies procured 32 million tons of rice in KMS 2014-15.
Brazil Exports 979,215 Tons of Rice in First Ten Months of 2015
Dec 02, 2015
Brazil has exported
around 979,215 tons of rice in the first ten months (January – October) of
2015, according to data released by the Rice Institute of Rio Grande do Sul
(IRGA).In October 2015, Brazil exported around 126,973 tons of rice, down about
5% from around 133,130 tons exported in September 2015.Cuba remained the
largest importer of Brazilian rice in October 2015 with around 42,647 tons, or
about 33% of Brazil's total rice exports during the month. Nicaragua accounted
for around 20,809 tons (about 16% of Brazil's total exports during the month);
Sierra Leone accounted for around 17,185 tons (about 13.5% of Brazil's total
exports during the month); and Peru accounted for 13,824 tons (about 11% of
Brazil's total exports during the month).Costa Rica (8,678 tons), Benin (4,346
tons), Bolivia (4,023 tons), South Africa (2,830 tons), U.S. (3,250 tons),
Trinidad Tobago (770 tons), Angola (2,019 tons), Chile (1,220 tons), Cape Verde
(1,253 tons), Panama (510 tons), Holland (403 tons), Saudi Arabia (438
tons), and others (2,768 tons) accounted for the remaining 26.5% of
Brazil's total rice exports in October 2015.
Brazil exported around
1.24 million tons of rice in 2014, up about 2.4% from around 1.209 million tons
exported in 2013, according to data from IRGA.
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