Oryza U.S. Rough Rice Recap - Offers Firm while Buyer's Stay Sidelined
Mar 17, 2015
The U.S. cash market was slightly firmer today with offers increasing in tandem with the futures market however most buyers were reluctant to increase their bids.
Most buyers are still purchasing hand to mouth as they have been all marketing year which has served them well however some analysts expect buyers to look for coverage ahead of the March 31st USDA prospective planting report.
Pakistan Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged
Mar 17, 2015
Pakistan rice sellers lowered their quotes for parboiled rice by about $5 per ton to around $380 - $390 per ton today. Other Asia rice sellers kept their quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is indicated at around $385 - $395 per ton, about a $20 per ton premium on Vietnam 5% rice shown at around $365 - $375 per ton. India 5% rice is indicated at around $390 - $400 per ton, about a $45 per ton premium on Pakistan 5% rice shown at around $345 - $355 per ton.
25% Broken Rice
Thailand 25% rice is shown at around $370 - $380 per ton, about a $30 per ton premium on Vietnam 25% rice shown at around $340- $350 per ton. India 25% rice is indicated at around $360 - $370, about a $50 per ton premium on Pakistan 25% rice shown at around $310 - $320 per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $385 - $395 per ton. India parboiled rice is indicated at around $380 - $390 per ton, on par with Pakistan parboiled rice shown at around $380 - $390 per ton, down about $5 per ton from yesterday.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $320 - $330 per ton, about a $15 per ton premium on Vietnam 100% broken rice shown at around $305 - $315 per ton. India's 100% broken rice is shown at around $275 - $285 per ton, about a $5 per ton discount to Pakistan broken sortexed rice shown at around $280 - $290 per ton.
Morocco Tenders to Purchase Short Grain Rice
Mar 17, 2015
The government of Morocco is seeking to purchase small short and round rice in tender, according to a notice on its government website.
The tender documents can be sent to the concerned authority in accordance with Article 19 of Decree No. 2.12.349 of 08 Jumada I 1434 released on March 20, 2013. They can also be handed over to the President of the tender commission at the beginning of the session and before opening of bids.
Closing date for tender is April 17, 2015. Bidding will take place at the Office of the Regional Director of Sale, Government of Morocco.
The provisional bond should be worth 3,564 Dirham (around $353.34), according to the notice.
Thailand Attorney General Files Criminal Charges Against Former Commerce Minister
Mar 17, 2015
Thailand's Office of Attorney General (OAG) filed criminal charges against the former Commerce Minister and 20 state officials and employees of private firms for alleged corruption in government-to-government (G2G) deals with two Chinese firms, according to Reuters.The OAG submitted charges against the 21 individuals, including the former Commerce Minister, in the Supreme Court's Criminal Division for Political Office Holders, the Deputy Spokesman of the OAG was quoted as saying. The court will reprotedly decide on April 20, 2015 whether to accept the case. If found guilty, the former Commerce Minister could face maximum sentence of life prison and a fine of around 3.52 billion baht (around $106.96 million).
The move comes after the National Anti-Corruption Commission (NACC) recommended prosecution of the 21 individuals in court after finding that they falsified G2G deals for about 1.2 million tons of rice with two Chinese companies. The NACC reportedly stated that the deal never happened and the rice was sold locally to Thai companies.Thailand's National Legislative Assembly (NLA) impeached the former PM on January 23, 2015 for encouraging corruption in the controversial rice pledging scheme introduced by her government in October 2011. She is also facing criminal charges for alleged negligence in overseeing the rice pledging scheme, which brought losses to the extent of 600 billion baht (around $18 billion) to the government. The Supreme Court is to decide on March 19, 2015 whether to pursue the criminal case against the former PM.aa
Oryza Afternoon Recap - Chicago Rough Rice Futures Turn Higher despite Bearish Day for Other U.S. Grains
Mar 17, 2015
Chicago rough rice futures for May delivery settled 10 cents per cwt (about $2 per ton) higher at $10.625 per cwt (about $234 per ton). The other grains closed sharply lower, with wheat retracing the majority of yesterday’s gains is it was weighed down by spillover selling pressure from neighboring trading pits; Soybeans closed about 1.5% lower at $9.5450 per bushel; wheat finished about 2% lower at $5.0350 per bushel, and corn finished the day about 2.1% lower at $3.7100 per bushel.
U.S. stocks traded mostly lower on Tuesday as investors focused on the Federal Open Market Committee's two-day meeting, which could shed light on the timing of an interest rate hike. The FOMC meeting kicks off Tuesday, with its highly anticipated statement and press conference expected on Wednesday afternoon. Investors are looking at whether or not "patient" remains in the statement as an indication of when short-term interest rates might go up. U.S. stocks jumped more than 1% on Monday, following three weeks of decline in the Dow and S&P 500, as investors positioned themselves ahead of the Fed meeting and options expirations.
The Dow Jones industrial average briefly slumped more than 180 points before trading about 114 points lower, or 0.64%, at 17,862. The S&P 500 fell 8 points, or 0.36%, at 2,073, with materials leading nine sectors lower and information technology the only sector in the green. Analysts are watching to see if the index holds above the 2050-2055 range, slightly below the 50-day moving average. The Nasdaq fell 0.33 points, or 0.01%, at 4,929. Gold is trading about 0.5% lower, crude oil is seen trading unchanged, and the U.S. dollar is seen trading marginally lower at about 1:00pm Chicago time.Monday, there were 458 contracts traded, up from 270 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 88 contracts to 8,890.
Jhumka Basmati - India's New Rain and Pest Tolerant Basmati Rice Variety
Mar 17, 2015
A farmer in India's northern state Uttar Pradesh has developed a new variety of basmati rice through organic farming using seeds brought by his ancestors from Pakistan, according to local sources.The new variety 'Jhumka Basmati' can withstand heavy rain as its roots are strong and do not bend to the gusts of strong winds that accompany rain, the farmer told local sources. He also noted that since it is grown through organic methods using organic green manure, its stem and roots are stronger. The seeds thus produced are rich in nutrition, he said. It is also pest-free said the farmer.He added that chemicals used for growing rice usually remain in the upper layer of the soil and does not allow roots to penetrate deep into the soil. He noted that chemical fertilizers increase the yield but weakens the root inside the soil.
The new variety matures in 110 days and produces an yield of about 14 quintal per acre (around 3.5 tons per hectare).
The Krishi Vigyan Kendra (KVK) of Indian Veterinary Research Institute (IVRI) has applied for the patent of 'Jhumka Basmati'. rice. The variety will be introduced to other famers in the region once the patent formalities are completed, said the farmer.
Global Rice Quotes
March 18th, 2015
Long grain white rice - high quality
Thailand 100% B grade 400-410 ↔
Vietnam 5% broken 365-375 ↔
India 5% broken 390-400 ↔
Pakistan 5% broken 345-355 ↔
Myanmar 5% broken 415-425 ↔
Cambodia 5% broken 425-435 ↔
U.S. 4% broken 480-490 ↔
Uruguay 5% broken 580-590 ↔
Argentina 5% broken 570-580 ↔
Long grain white rice - low quality
Thailand 25% broken 370-380 ↔
Vietnam 25% broken 340-350 ↔
Pakistan 25% broken 310-320 ↔
Cambodia 25% broken 410-420 ↔
India 25% broken 360-370 ↔
U.S. 15% broken 470-480 ↔
Long grain parboiled rice
Thailand parboiled 100% stxd 385-395 ↔
Pakistan parboiled 5% broken stxd 380-390 ↔
India parboiled 5% broken stxd 380-390 ↔
U.S. parboiled 4% broken 555-565 ↔
Brazil parboiled 5% broken 570-580 ↔
Uruguay parboiled 5% broken NQ ↔
Long grain fragrant rice
Thailand Hommali 92% 890-900 ↓
Vietnam Jasmine 455-465 ↔
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 790-800 ↔
Brokens
Thailand A1 Super 320-330 ↔
Vietnam 100% broken 315-325 ↑
Pakistan 100% broken stxd 280-290 ↔
Cambodia A1 Super 345-355 ↔
India 100% broken stxd 275-285 ↔
Egypt medium grain brokens NQ ↔
U.S. pet food 380-390 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Oryza Overnight Recap – Chicago Rough Rice Futures Little Changed Overnight as Market Continues to Trade in Sideways Range
Mar 17, 2015
Chicago rough rice futures for May delivery are currently listed 1 cent per cwt (about $0.22 per ton) higher at $10.535 per cwt (about $232 per ton) during early floor trading in Chicago. The other grains are seen trading lower this morning: soybeans are currently seen about 0.6% lower, wheat is listed about 1.2% lower and corn is currently noted about 1.1% lower.
U.S. stocks opened lower on Tuesday as investors eyed weak housing data ahead of the Federal Open Market Committee's two-day meeting. The FOMC meeting kicks off Tuesday, with its highly anticipated statement and press conference expected on Wednesday afternoon. Investors are looking at whether or not "patient" remains in the statement as an indication of when short-term interest rates might go up. The U.S. dollar continued to ease, falling more than 1 percent in early trade, while the euro edged above $1.06. The U.S. 10-year Treasury yield fell to trade near 2.05%.Crude oil traded lower but held slightly above 6-year lows touched on Monday. Brent struggled to hold above $53 a barrel. Gold is currently trading about 0.8% lower, crude oil is seen trading about 1.2% lower, and the U.S. dollar is currently trading about 0.2% lower at 8:00am Chicago time.
Indonesia Rice Prices May Have Peaked in February, Suggests USDA Report
Mar 17, 2015
USDA Post reports that inadequate stocks and delayed harvesting pushed up Indonesia rice prices into February but Bulog action and anticipation for the upcoming harvest have reduced prices in March, suggesting prices may have peaked for the near-term.Indonesian wholesale prices increased by about 22% m/m to around Rp. 11,500 per kilogram (around $892 per ton) on February 26, 2014 from around Rp.9,400 per kilogram (around $729 per ton) on February 1, 2015; and retail prices increased by about 6% m/m to around Rp.11,400 per kilogram (around $885 per ton) during the same period.
The Post attributes the price hike to inadequate stocks caused due to delayed harvests. Harvest of 2015 first main crop was delayed from February to mid-March or April 2015, due to delayed plantings. The daily inflow of rice stocks to Cipinang wholesale market declined to around 2,000 tons in February from around 2,500 - 3,000 tons in September 2014 - January 2015 due to delayed harvests, says the Post.
The government also delayed the distribution of Raskin rice to February and March 2015 from November and December 2014 due to flooding, which caused widespread losses in parts of Java. Raskin consumers had to buy rice in the open market in November and December 2014. Prices have been impacted due to this as well.
Now, Bulog has decided to distribute a total of 300,000 tons of rice in key markets to control price hikes. It has decided to sell Bulog rice at around Rp.7,400 per kilogram (around $574 per ton) in Java and at around Rp.7,500 per kilogram (around $582 per ton) outside Java. Bulog also distributed 174,000 of Raskin rice from January 1 to February 24, 2015.
Bulog's operations seem to have effect on prices, says USDA. March price data shows that the price of medium quality rice has declined to around Rp.10,450 per kilogram (around $811 per ton). The Post expects prices to come down further with the arrival of March crop.
India Hybrid Rice Acreage Reaches 2.5 Million Hectares in 2014, Says Junior Agriculture Minister
Mar 17, 2015
India's hybrid rice acreage has reached around 2.5 million hectares in 2014, about 250 times from a mere 10,000 hectares in 1995, local sources quoted the Minister of State for Agriculture Minister as saying. Currently, the hybrid rice acreage accounts for about 5.6% of the total rice area of about 45 million hectares in the country.The Minister apprised the Parliament today that last nine years have seen a tremendous growth in hybrid rice plantings especially due to increasing popularity of hybrid rice in Eastern Uttar Pradesh, Madhya Pradesh, Bihar, Jharkhand and Chhattisgarh.
He also informed the Parliament members that the bacterial blight resistant variety 'Improved Samba Mahsuri' developed by the Centre for Cellular and Molecular Biology (CCMB) and Directorate of Rice Research (DRR) has was received well and the area under the variety is currently about 90,000 hectares in Southern Indian states of Tamil Nadu, Karnataka, Telangana and Andhra Pradesh.
The Minister also noted that the government has not fixed any target for increasing acreage of hybrid rice in the country. However, he said the government would continue with various crop development programs such as National Food Security Mission (NFSM), Bringing Green Revolution to Eastern India (BGREI) and Rashtriya Krishi Vikas Yojana (RKVY).
The government of India, in its second advance estimates for major crops, has estimated India's rice production for 2014-15 marketing year (October 2014 - September 2015) at around 103.04 million tons, down about 3% from an estimated 106.65 million tons in 2013-14. It estimates around 88.02 million tons from kharif rice crop and around 15.02 million tons for rabi rice crop.
EU Rice Exports Increase Sharply YTD in 2014-15
Mar 17, 2015
Rice exports from the European Union (EU) nations have increased sharply during September 1, 2014 - March 10, 2015, according to the data provided by the EU. Most of the increase has been in the Japonica rice exports so far in the crop year 2014-15 (September - August), according to the EU data.
The EU has exported around 145,713 tons (milled equivalent) of rice in September 1, 2014 - March 10, 2015, up about 40% from around 104,384 tons exported during the same period last crop year. While Japonica milled equivalent varieties constituted about 125,303 tons, Indica milled equivalent varieties accounted for about 20,140 tons.
The EU nations exported around 119,274 tons of milled Japonica varieties in September 1, 2014 - March 10, 2015, up about 37% from around 87,273 tons exported last year. The EU exported around 19,609 tons of Indica varieties during September 1, 2014 - March 10, 2015 period, up about 14% from around 17,131 tons exported last year.
However, increase in the exports of half milled rice have been very less during the stated period, according to the EU data. The EU nations exported around 341 tons of half milled Japonica rice varieties in September 1, 2014 - March 10, 2015, slightly up from around 338 tons exported during the same period last year. Exports of half-milled Indica rice varieties declined about 34% to around 53 tons during the stated period from around 80 tons exported last year.
Husked rice exports have almost doubled to around 8185 tons during September 1, 2014 - March 10, 2015 from around 4,045 tons during the same period last year.
Italy remained the largest rice exporter so far in the crop year 2014-15 followed by Spain, Greece, Bulgaria, Portugal, Romania, France and the U.K.
Costa Rica to Maintain Fixed Prices for Rice, Says USDA
Mar 17, 2015
The government of Costa Rica has decided to continue with its longstanding policy of fixing producer and consumer prices for rice for increasing rice production in the country as well as to ensure that the government does not violate WTO commitments, according to USDA Post.
The Post reports that the government of Costa Rica has published an Executive Decree #38884-MEIC on February 27, 2015, according to which it has set the producer price of dry and clean paddy rice at around colones 22,130 per 73.6 kilograms bag (around $557 per ton), down about 2% from around colones 22,582 per 73.6 kilograms bag (around $576 per ton) last year.
The decree also set the minimum and maximum price for different types of rice, either locally produced or imported. The minimum and maximum prices of the highest selling variety 80/20 (80% whole grain and 20% broken grain) rice at around $1.168 per kilogram and around $1.174 per kilogram respectively. The prices are effective from June 8, 2015, and trader or miller is not expected to violate the decree and according to the Post.
The regulation is in line with the government's intention to bring down prices of rice to consumer, increase local paddy rice production by about 25% to around 5 million tons over the next four years, as well as to narrow the gap between the locally produced rice and imported rice. However, the decree does not stipulate a time frame for the continuation of the fixed price policy. The government has also recently increased the import duty on milled rice from 35% to 62.06% to encourage local production.
The decree is also aimed that ensuring that the government does not violate its minimum market access (MMA) import commitments with the WTO.
USDA estimates Costa Rica to produce around 223,000 tons of paddy rice (around 145,000 tons, basis milled) and import around 100,000 tons in MY 2014-15 (October - September).
Brazil Paddy Rice Index Declines about 1% from Last Week
Mar 17, 2015
The Brazilian paddy rice index maintained by CEPEA reached around 35.75 real per 50 kilograms as of March 16, 2015, down about 0.75% from around 36.02 real per 50 kilograms recorded on March 09, 2015.In terms of USD per ton, the index reached around $222 per ton on March 16, 2015, down about 5% from around $232 per ton recorded on March 9, 2015.
Thanks with source ORYZA.com
Mar 17, 2015
The U.S. cash market was slightly firmer today with offers increasing in tandem with the futures market however most buyers were reluctant to increase their bids.
Most buyers are still purchasing hand to mouth as they have been all marketing year which has served them well however some analysts expect buyers to look for coverage ahead of the March 31st USDA prospective planting report.
Pakistan Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged
Mar 17, 2015
Pakistan rice sellers lowered their quotes for parboiled rice by about $5 per ton to around $380 - $390 per ton today. Other Asia rice sellers kept their quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is indicated at around $385 - $395 per ton, about a $20 per ton premium on Vietnam 5% rice shown at around $365 - $375 per ton. India 5% rice is indicated at around $390 - $400 per ton, about a $45 per ton premium on Pakistan 5% rice shown at around $345 - $355 per ton.
25% Broken Rice
Thailand 25% rice is shown at around $370 - $380 per ton, about a $30 per ton premium on Vietnam 25% rice shown at around $340- $350 per ton. India 25% rice is indicated at around $360 - $370, about a $50 per ton premium on Pakistan 25% rice shown at around $310 - $320 per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $385 - $395 per ton. India parboiled rice is indicated at around $380 - $390 per ton, on par with Pakistan parboiled rice shown at around $380 - $390 per ton, down about $5 per ton from yesterday.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $320 - $330 per ton, about a $15 per ton premium on Vietnam 100% broken rice shown at around $305 - $315 per ton. India's 100% broken rice is shown at around $275 - $285 per ton, about a $5 per ton discount to Pakistan broken sortexed rice shown at around $280 - $290 per ton.
Morocco Tenders to Purchase Short Grain Rice
Mar 17, 2015
The government of Morocco is seeking to purchase small short and round rice in tender, according to a notice on its government website.
The tender documents can be sent to the concerned authority in accordance with Article 19 of Decree No. 2.12.349 of 08 Jumada I 1434 released on March 20, 2013. They can also be handed over to the President of the tender commission at the beginning of the session and before opening of bids.
Closing date for tender is April 17, 2015. Bidding will take place at the Office of the Regional Director of Sale, Government of Morocco.
The provisional bond should be worth 3,564 Dirham (around $353.34), according to the notice.
Thailand Attorney General Files Criminal Charges Against Former Commerce Minister
Mar 17, 2015
Thailand's Office of Attorney General (OAG) filed criminal charges against the former Commerce Minister and 20 state officials and employees of private firms for alleged corruption in government-to-government (G2G) deals with two Chinese firms, according to Reuters.The OAG submitted charges against the 21 individuals, including the former Commerce Minister, in the Supreme Court's Criminal Division for Political Office Holders, the Deputy Spokesman of the OAG was quoted as saying. The court will reprotedly decide on April 20, 2015 whether to accept the case. If found guilty, the former Commerce Minister could face maximum sentence of life prison and a fine of around 3.52 billion baht (around $106.96 million).
The move comes after the National Anti-Corruption Commission (NACC) recommended prosecution of the 21 individuals in court after finding that they falsified G2G deals for about 1.2 million tons of rice with two Chinese companies. The NACC reportedly stated that the deal never happened and the rice was sold locally to Thai companies.Thailand's National Legislative Assembly (NLA) impeached the former PM on January 23, 2015 for encouraging corruption in the controversial rice pledging scheme introduced by her government in October 2011. She is also facing criminal charges for alleged negligence in overseeing the rice pledging scheme, which brought losses to the extent of 600 billion baht (around $18 billion) to the government. The Supreme Court is to decide on March 19, 2015 whether to pursue the criminal case against the former PM.aa
Oryza Afternoon Recap - Chicago Rough Rice Futures Turn Higher despite Bearish Day for Other U.S. Grains
Mar 17, 2015
Chicago rough rice futures for May delivery settled 10 cents per cwt (about $2 per ton) higher at $10.625 per cwt (about $234 per ton). The other grains closed sharply lower, with wheat retracing the majority of yesterday’s gains is it was weighed down by spillover selling pressure from neighboring trading pits; Soybeans closed about 1.5% lower at $9.5450 per bushel; wheat finished about 2% lower at $5.0350 per bushel, and corn finished the day about 2.1% lower at $3.7100 per bushel.
U.S. stocks traded mostly lower on Tuesday as investors focused on the Federal Open Market Committee's two-day meeting, which could shed light on the timing of an interest rate hike. The FOMC meeting kicks off Tuesday, with its highly anticipated statement and press conference expected on Wednesday afternoon. Investors are looking at whether or not "patient" remains in the statement as an indication of when short-term interest rates might go up. U.S. stocks jumped more than 1% on Monday, following three weeks of decline in the Dow and S&P 500, as investors positioned themselves ahead of the Fed meeting and options expirations.
The Dow Jones industrial average briefly slumped more than 180 points before trading about 114 points lower, or 0.64%, at 17,862. The S&P 500 fell 8 points, or 0.36%, at 2,073, with materials leading nine sectors lower and information technology the only sector in the green. Analysts are watching to see if the index holds above the 2050-2055 range, slightly below the 50-day moving average. The Nasdaq fell 0.33 points, or 0.01%, at 4,929. Gold is trading about 0.5% lower, crude oil is seen trading unchanged, and the U.S. dollar is seen trading marginally lower at about 1:00pm Chicago time.Monday, there were 458 contracts traded, up from 270 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 88 contracts to 8,890.
Jhumka Basmati - India's New Rain and Pest Tolerant Basmati Rice Variety
Mar 17, 2015
A farmer in India's northern state Uttar Pradesh has developed a new variety of basmati rice through organic farming using seeds brought by his ancestors from Pakistan, according to local sources.The new variety 'Jhumka Basmati' can withstand heavy rain as its roots are strong and do not bend to the gusts of strong winds that accompany rain, the farmer told local sources. He also noted that since it is grown through organic methods using organic green manure, its stem and roots are stronger. The seeds thus produced are rich in nutrition, he said. It is also pest-free said the farmer.He added that chemicals used for growing rice usually remain in the upper layer of the soil and does not allow roots to penetrate deep into the soil. He noted that chemical fertilizers increase the yield but weakens the root inside the soil.
The new variety matures in 110 days and produces an yield of about 14 quintal per acre (around 3.5 tons per hectare).
The Krishi Vigyan Kendra (KVK) of Indian Veterinary Research Institute (IVRI) has applied for the patent of 'Jhumka Basmati'. rice. The variety will be introduced to other famers in the region once the patent formalities are completed, said the farmer.
Global Rice Quotes
March 18th, 2015
Long grain white rice - high quality
Thailand 100% B grade 400-410 ↔
Vietnam 5% broken 365-375 ↔
India 5% broken 390-400 ↔
Pakistan 5% broken 345-355 ↔
Myanmar 5% broken 415-425 ↔
Cambodia 5% broken 425-435 ↔
U.S. 4% broken 480-490 ↔
Uruguay 5% broken 580-590 ↔
Argentina 5% broken 570-580 ↔
Long grain white rice - low quality
Thailand 25% broken 370-380 ↔
Vietnam 25% broken 340-350 ↔
Pakistan 25% broken 310-320 ↔
Cambodia 25% broken 410-420 ↔
India 25% broken 360-370 ↔
U.S. 15% broken 470-480 ↔
Long grain parboiled rice
Thailand parboiled 100% stxd 385-395 ↔
Pakistan parboiled 5% broken stxd 380-390 ↔
India parboiled 5% broken stxd 380-390 ↔
U.S. parboiled 4% broken 555-565 ↔
Brazil parboiled 5% broken 570-580 ↔
Uruguay parboiled 5% broken NQ ↔
Long grain fragrant rice
Thailand Hommali 92% 890-900 ↓
Vietnam Jasmine 455-465 ↔
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 790-800 ↔
Brokens
Thailand A1 Super 320-330 ↔
Vietnam 100% broken 315-325 ↑
Pakistan 100% broken stxd 280-290 ↔
Cambodia A1 Super 345-355 ↔
India 100% broken stxd 275-285 ↔
Egypt medium grain brokens NQ ↔
U.S. pet food 380-390 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Oryza Overnight Recap – Chicago Rough Rice Futures Little Changed Overnight as Market Continues to Trade in Sideways Range
Mar 17, 2015
Chicago rough rice futures for May delivery are currently listed 1 cent per cwt (about $0.22 per ton) higher at $10.535 per cwt (about $232 per ton) during early floor trading in Chicago. The other grains are seen trading lower this morning: soybeans are currently seen about 0.6% lower, wheat is listed about 1.2% lower and corn is currently noted about 1.1% lower.
U.S. stocks opened lower on Tuesday as investors eyed weak housing data ahead of the Federal Open Market Committee's two-day meeting. The FOMC meeting kicks off Tuesday, with its highly anticipated statement and press conference expected on Wednesday afternoon. Investors are looking at whether or not "patient" remains in the statement as an indication of when short-term interest rates might go up. The U.S. dollar continued to ease, falling more than 1 percent in early trade, while the euro edged above $1.06. The U.S. 10-year Treasury yield fell to trade near 2.05%.Crude oil traded lower but held slightly above 6-year lows touched on Monday. Brent struggled to hold above $53 a barrel. Gold is currently trading about 0.8% lower, crude oil is seen trading about 1.2% lower, and the U.S. dollar is currently trading about 0.2% lower at 8:00am Chicago time.
Indonesia Rice Prices May Have Peaked in February, Suggests USDA Report
Mar 17, 2015
USDA Post reports that inadequate stocks and delayed harvesting pushed up Indonesia rice prices into February but Bulog action and anticipation for the upcoming harvest have reduced prices in March, suggesting prices may have peaked for the near-term.Indonesian wholesale prices increased by about 22% m/m to around Rp. 11,500 per kilogram (around $892 per ton) on February 26, 2014 from around Rp.9,400 per kilogram (around $729 per ton) on February 1, 2015; and retail prices increased by about 6% m/m to around Rp.11,400 per kilogram (around $885 per ton) during the same period.
The Post attributes the price hike to inadequate stocks caused due to delayed harvests. Harvest of 2015 first main crop was delayed from February to mid-March or April 2015, due to delayed plantings. The daily inflow of rice stocks to Cipinang wholesale market declined to around 2,000 tons in February from around 2,500 - 3,000 tons in September 2014 - January 2015 due to delayed harvests, says the Post.
The government also delayed the distribution of Raskin rice to February and March 2015 from November and December 2014 due to flooding, which caused widespread losses in parts of Java. Raskin consumers had to buy rice in the open market in November and December 2014. Prices have been impacted due to this as well.
Now, Bulog has decided to distribute a total of 300,000 tons of rice in key markets to control price hikes. It has decided to sell Bulog rice at around Rp.7,400 per kilogram (around $574 per ton) in Java and at around Rp.7,500 per kilogram (around $582 per ton) outside Java. Bulog also distributed 174,000 of Raskin rice from January 1 to February 24, 2015.
Bulog's operations seem to have effect on prices, says USDA. March price data shows that the price of medium quality rice has declined to around Rp.10,450 per kilogram (around $811 per ton). The Post expects prices to come down further with the arrival of March crop.
India Hybrid Rice Acreage Reaches 2.5 Million Hectares in 2014, Says Junior Agriculture Minister
Mar 17, 2015
India's hybrid rice acreage has reached around 2.5 million hectares in 2014, about 250 times from a mere 10,000 hectares in 1995, local sources quoted the Minister of State for Agriculture Minister as saying. Currently, the hybrid rice acreage accounts for about 5.6% of the total rice area of about 45 million hectares in the country.The Minister apprised the Parliament today that last nine years have seen a tremendous growth in hybrid rice plantings especially due to increasing popularity of hybrid rice in Eastern Uttar Pradesh, Madhya Pradesh, Bihar, Jharkhand and Chhattisgarh.
He also informed the Parliament members that the bacterial blight resistant variety 'Improved Samba Mahsuri' developed by the Centre for Cellular and Molecular Biology (CCMB) and Directorate of Rice Research (DRR) has was received well and the area under the variety is currently about 90,000 hectares in Southern Indian states of Tamil Nadu, Karnataka, Telangana and Andhra Pradesh.
The Minister also noted that the government has not fixed any target for increasing acreage of hybrid rice in the country. However, he said the government would continue with various crop development programs such as National Food Security Mission (NFSM), Bringing Green Revolution to Eastern India (BGREI) and Rashtriya Krishi Vikas Yojana (RKVY).
The government of India, in its second advance estimates for major crops, has estimated India's rice production for 2014-15 marketing year (October 2014 - September 2015) at around 103.04 million tons, down about 3% from an estimated 106.65 million tons in 2013-14. It estimates around 88.02 million tons from kharif rice crop and around 15.02 million tons for rabi rice crop.
EU Rice Exports Increase Sharply YTD in 2014-15
Mar 17, 2015
Rice exports from the European Union (EU) nations have increased sharply during September 1, 2014 - March 10, 2015, according to the data provided by the EU. Most of the increase has been in the Japonica rice exports so far in the crop year 2014-15 (September - August), according to the EU data.
The EU has exported around 145,713 tons (milled equivalent) of rice in September 1, 2014 - March 10, 2015, up about 40% from around 104,384 tons exported during the same period last crop year. While Japonica milled equivalent varieties constituted about 125,303 tons, Indica milled equivalent varieties accounted for about 20,140 tons.
The EU nations exported around 119,274 tons of milled Japonica varieties in September 1, 2014 - March 10, 2015, up about 37% from around 87,273 tons exported last year. The EU exported around 19,609 tons of Indica varieties during September 1, 2014 - March 10, 2015 period, up about 14% from around 17,131 tons exported last year.
However, increase in the exports of half milled rice have been very less during the stated period, according to the EU data. The EU nations exported around 341 tons of half milled Japonica rice varieties in September 1, 2014 - March 10, 2015, slightly up from around 338 tons exported during the same period last year. Exports of half-milled Indica rice varieties declined about 34% to around 53 tons during the stated period from around 80 tons exported last year.
Husked rice exports have almost doubled to around 8185 tons during September 1, 2014 - March 10, 2015 from around 4,045 tons during the same period last year.
Italy remained the largest rice exporter so far in the crop year 2014-15 followed by Spain, Greece, Bulgaria, Portugal, Romania, France and the U.K.
Costa Rica to Maintain Fixed Prices for Rice, Says USDA
Mar 17, 2015
The government of Costa Rica has decided to continue with its longstanding policy of fixing producer and consumer prices for rice for increasing rice production in the country as well as to ensure that the government does not violate WTO commitments, according to USDA Post.
The Post reports that the government of Costa Rica has published an Executive Decree #38884-MEIC on February 27, 2015, according to which it has set the producer price of dry and clean paddy rice at around colones 22,130 per 73.6 kilograms bag (around $557 per ton), down about 2% from around colones 22,582 per 73.6 kilograms bag (around $576 per ton) last year.
The decree also set the minimum and maximum price for different types of rice, either locally produced or imported. The minimum and maximum prices of the highest selling variety 80/20 (80% whole grain and 20% broken grain) rice at around $1.168 per kilogram and around $1.174 per kilogram respectively. The prices are effective from June 8, 2015, and trader or miller is not expected to violate the decree and according to the Post.
The regulation is in line with the government's intention to bring down prices of rice to consumer, increase local paddy rice production by about 25% to around 5 million tons over the next four years, as well as to narrow the gap between the locally produced rice and imported rice. However, the decree does not stipulate a time frame for the continuation of the fixed price policy. The government has also recently increased the import duty on milled rice from 35% to 62.06% to encourage local production.
The decree is also aimed that ensuring that the government does not violate its minimum market access (MMA) import commitments with the WTO.
USDA estimates Costa Rica to produce around 223,000 tons of paddy rice (around 145,000 tons, basis milled) and import around 100,000 tons in MY 2014-15 (October - September).
Brazil Paddy Rice Index Declines about 1% from Last Week
Mar 17, 2015
The Brazilian paddy rice index maintained by CEPEA reached around 35.75 real per 50 kilograms as of March 16, 2015, down about 0.75% from around 36.02 real per 50 kilograms recorded on March 09, 2015.In terms of USD per ton, the index reached around $222 per ton on March 16, 2015, down about 5% from around $232 per ton recorded on March 9, 2015.
Thanks with source ORYZA.com
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