India and Pakistan Resolve Basmati GI Tag Issue; Indian Basmati Rice May
Soon Get Legal Protection
Dec 07, 2015
The Chennai-based
Intellectual Property Appellate Board (IPAB), which is dealing with India's basmati
Geographical Indications(GI) tag application, is likely to issue a final
notification in a week or so, according to Financial Express.
A GI tag distinguishes
a product with its geographic origin and, under a multilateral framework,
prevents traders from attributing its name and traits for products from other
geographies.
India's GI tag
application has been facing several legal issues since it was first initiated
in 2009 by the Agricultural and Processed Food Products Export Development
Authority (APEDA). The APEDA applied with the GI Registry seeking exclusive
(commercial) use of the basmati tag for rice grown within the boundaries of
Indo-Gangetic plain (including the Punjab, Haryana, (western) Uttar Pradesh,
Uttarakhand, Delhi and Jammu and Kashmir).
Pakistan has been
opposing India's application for GI tag as a part of Indo-Gangetic plain
(Punjab province) falls within its territory. It is understood that the IPAB
had recently concluded hearing the pleas of all the stakeholders — farmers,
breeders, exporters and representatives - from Pakistan. Both the countries
have reportedly agreed to share the commercial benefits of basmati. According
to official sources, Pakistan has agreed to accept India's application on the
condition that when it applies for a GI tag, it would be able to claim
ownership on the rice grown in its Punjab province.
The process of
granting a GI tag to basmati had been delayed due to internal issues as well.
India's central state Madhya Pradesh sought for its inclusion in the GI tag
application. When the Agriculture and Commerce Ministries as well as the APEDA
opposed Madhya Pradesh's plea, the state filed an application with the IPAB.
Brazil Rice Stocks Decline About 3% m/m to 118,250 Tons in November 2015
Dec 07, 2015
Brazil rice stocks
stood at around 118,250 tons in November 2015, down about 3% from around
121,038 tons in October 2015 and down about 71% from around 411,947 tons in
November 2014, according to the country's national grain supplying agency
Conab.
According to Conab,
rice stocks with the Selling Option Contract of Agricultural Products (OPCAO)
stood at around 68,658 tons, down about 1.5% from around 69,683 tons in October
2015 and down about 72% from around 244,253 tons in November 2014.
Rice stocks with the
Federal Government Acquisition (AGF) stood at around 49,586 tons, down about 3%
from around 51,349 tons in October 2015 and down about 70% from around 166,604
tons in November 2014.
Rice stocks with
farmers (Agricultural Familiar) stood at around 6 tons in November 2015,
unchanged from October 2015 and down about 99% from around 1,090 tons in
November 2014.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Continue
to Fall as Lack of Demand Sends Prices into Tailspin
Dec 08, 2015
Chicago rough rice
futures for Jan delivery settled 30.5 cents per cwt (about $7 per ton) lower at
$10.875 per cwt (about $240 per ton). The other grains finished the day sharply
lower; Soybeans closed about 2.6% lower at $8.8225 per bushel; wheat finished
about 0.4% lower at $4.8275 per bushel, and corn finished the day about 2.2%
lower at $3.7300 per bushel.
U.S. stocks declined
Monday as oil fell to trade near lows for the year. U.S. stock index futures
turned lower in pre-market trade as the globally traded Brent crude fell more
than $1 to below $42 a barrel, a more than six-and-a-half-year low. The decline
came after the Organization of the Petroleum Exporting Countries failed on
Friday to agree on a production curb to stem sliding prices and a stronger
dollar made holding crude positions more expensive. U.S. stocks surged Friday
to close slightly higher for the week on increased certainty of divergent
monetary policy, with a strong jobs report supporting a Fed hike in December
and a continued dovish tone from the European Central Bank.
The ECB's decision on
monetary policy Thursday fell short of market expectations for greater stimulus
and sent the euro above $1.09 for its biggest one-day gain against the dollar
since March 2009. European equities pared gains but closed higher Monday after
European Central Bank Mario Draghi's dovish remarks and the solid U.S. jobs
report. The French CAC ended up nearly 0.9%, while the German DAX closed about
1.25% higher. In early afternoon trade, the Dow Jones industrial average
declined 155 points, or 0.87%, to 17,682. The S&P 500 traded down 20
points, or 0.96%, to 2,071, with energy leading seven sectors lower and
telecommunications leading advancers. The Nasdaq composite fell 47 points, or
0.93%, to 5,094. Gold is seen trading about 0.9% lower, crude oil is seen
trading about 5.3% lower, and the U.S. dollar is seen trading about 0.3% higher
at about 1:00pm Chicago time.
Friday, there were 807
contracts traded, down from 2,129 contracts traded on Thursday. Open interest –
the number of contracts outstanding – on Friday increased by 143 contracts to
14,104.
Conab Estimates Brazil 2015-16 Paddy Rice Production to Decline About 6%
y/y on Low Acreage, Yields
Dec 07, 2015
Brazil’s National
Grains Supply Company (Conab) has forecasted the country's 2015-16 paddy rice
production at around 11.733 million tons (around 8.1 million tons, basis
milled), down about 6% from an estimated 12.449 million tons (around 8.6
million tons, basis milled) in 2014-15 due to a likely reduction in acreage and
yields.
Conab has estimated
Brazil's 2015-16 paddy rice acreage at around 2.289 million hectares, slightly
down from around 2.295 million hectares in 2013-14.
Most of the decline in
2015-16 acreage is expected in the key rice growing Centro-Sul region. Rice
acreage in the Centro-Sul region is estimated at around 1.55 million hectares,
down from around 1.557 million hectares in 2014-15. On the other hand, paddy
rice acreage in the North/North east regions is projected at around 738,700
hectares, slightly up from around 738,200 hectares in 2014-15.
Average rice yield in
Brazil in 2015-16 is projected at around 5.35 tons per hectare, down from
around 5.42 tons per hectare recorded in the previous year.
USDA estimates Brazil
MY 2015-16 (April – March) paddy rice production at around 11.765 million tons
(around 8 million tons, basis milled), down about 6% from an estimated 12.5
million tons (around 8.5 million tons, basis milled) in MY 2014-15. It
estimates Brazil’s 2015-16 paddy rice acreage to increase slightly to around
2.3 million hectares from last year's 2.295 million hectares. USDA estimates
Brazil to export around one million tons of rice and import around 450,000 tons
of rice in 2015.
Vietnam, Pakistan Rice Sellers Alter Some of Their Quotes Today; Other
Asian Rice Quotes Remain Unchanged
Dec 07, 2015
Vietnam rice sellers lowered their quotes for 15% broken rice and
increased their quotes for jasmine rice varieties each by about $5 per ton to
around $360 - $370 and $440 - $450 per ton respectively today. Pakistan
rice sellers increased their quotes for 5% broken and 100% broken rice
varieties each by about $5 per ton to around $325 - $335 per ton and $285 -
$295 per ton respectively. Thailand rice sellers are out today
on account of public holiday. Other 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 $20 per ton premium on Pakistan 5% rice shown
at around $325 - $335 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% discount to
Pakistan broken sortexed rice shown at around $285 - $295 per ton.
Oryza U.S. Rough Rice Recap - Cash Prices Continue to Fall ahead of USA
Rice Outlook Conference
Dec 08, 2015
The U.S. cash market
saw bids and offers from resellers dip lower today even as farmers with unsold
paddy remain on the continuing to wait on the sidelines for prices to improve.
Analysts note that as
next year’s planting season approaches many farmers may be forced to sell their
crop below their cost of production unless prices recover.
As market participants
gather this week in New Orleans for the annual U.S.A. Rice Outlook Conference
analysts expect that many attendees will be disillusioned with the direction
prices are heading.
Global
Rice Quotes
December 8th, 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
Indonesia Rice Stocks Stand at 1.5 Million Tons, Says Bulog Official
Dec 07, 2015
Indonesia’s rice
stocks currently stand at around 1.5 million tons , including supplies from
imports, Bloomberg quoted the Bulog’s Procurement Director.
The official also
noted that Indonesia received around 330,000 tons of rice from Vietnam.
The country needs to
maintain about 2 million tons of rice at the end of the year.
Indonesia aims to
import around 1.5 million tons of rice this year to deal with falling
production due to El Nino-induced dry weather conditions.
USDA Post Forecasts Sluggish Thai Rice Exports Until First Quarter of 2016
Dec 07, 2015
USDA Post forecasts
lesser Thai rice exports until the first quarter of 2015 despite an improvement
in exports in October 2015. Thailand exported around 1.2 million tons of rice
in October (compared to an average of 730,000 tons in January-September
period). The Post expects Thai rice exports to fall to an average of 600,000 -
700,000 tons in November and December.
The increase in
October exports is attributed to lower export prices compared to Vietnam.
Strong demand from Indonesia and the Philippines drove the Vietnam rice prices
high. Vietnam prices are expected to increase further due to tight supplies.
However, Post says this won't help Thai rice exports due to the government's
suspension of sales of food-grade stocks during the harvest season. The Thai
government announced that the new tenders for food-grade rice stocks will
resume after the first quarter of 2016.
The Post reports that
rotten rice sales would increase in 2016 if the first rotten rice auction on
December 1, 2015 proves to be a success. The government will monitor whether
the buyers would sell it as food or feed. The government has a total of 2
million tons of rotten rice and about 4 million tons of non-food grade rice.USDA
Post expects MY 2015-16 paddy production at around 24.85 million tons, down
about 15% from an estimated 29.4 million tons in MY 2014-15. Output from off-season
crop is expected to fall by 48% due to heavy water shortages.
Exclusive News have
been shared with written permission of ORYZA.com with thanks
No comments:
Post a Comment