Pakistan Finalizes One
Million Ton Rice Export Agreement Worth $400 Million with Indonesia
Jan 07, 2016
Pakistan and Indonesia have finalized a one-million ton rice
agreement under which Pakistan will export one million tons of rice worth $400
million over the next four years, Bloomberg quoted a Pakistan Commerce Ministry
Statement.
The agreement will be implemented by the Pakistan Trading
Corporation and the Indonesian state
logistics agency Bulog.
The first tender to export 15,000 tons of rice, including
5,000 tons of basmati rice, has been reportedly finalized. The tender is
expected to push up rice prices in Pakistan.
Pakistan-Indonesia bilateral trade increased over four times
to around $2.2 billion in 2014 from around $700 million in 2010 after
conclusion of the Preferential Trade
Agreement, according to the statement.
COL-RICE Announces 2016 Auction Schedule TRQ for U.S. Rice to Colombia;
Announces Tenders for 94,209 Tons of Rice
Jan 07, 2016
Colombia Rice Export
Quota, Inc (COL-RICE) has announced a tender schedule for the shipping of
94,209 tons of U.S. rice (milled equivalent) to Colombia under the
U.S.-Colombia Trade Promotion Agreement (TPA) as per the 2016 tariff rate quota
(TRQ) for U.S.
The details of the
auctions are as follows:
COL-RICE administers
the Tariff Rate Quota for rice established by the U.S. – Colombia TPA, which
came into force on May 15, 2012.
Government of Thailand Plans to Cut
Rice Output to Match Demand
Jan 07, 2016
The government of
Thailand is planning to reduce the rice production to exactly match the local
consumption and exports, Bloomberg quoted the Permanent Secretary for Commerce.
The official noted
that the annual local and export demand is currently at around 25 million tons
(basis paddy), while the average annual production stands at around 31-32
million tons.
She noted that the
government is planning to reduce production and implement new measures to
improve farmers' incomes beginning from the 2016-17 main rice crop season, for
which planting will start in May 2016. She added that the Ministries of
Commerce, Agriculture and Interior are working with the farmers, exporters and
millers groups on the implementation of the plan.
The official noted
that the government is targeting to export 9 million tons of rice in 2016. She
also state that the government will sell rice to the industrial sector at the
end of January or early February.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Tumble as
Export Sales Soften and Oil Slides to New Low
Jan 08, 2016
Chicago rough rice
futures for Mar delivery settled 21 cents per cwt (about $5 per ton) lower at
$11.620 per cwt (about $256 per ton). The other grains finished the day mostly
lower; Soybeans closed a tick lower at $8.6450 per bushel; wheat finished about
1.2% higher at $4.6850 per bushel, and corn finished the day about 0.1% lower
at $3.5300 per bushel.
U.S. stocks traded
lower Thursday as China news overnight and low oil prices renewed concerns
about global economic growth. The Dow Jones industrial average briefly traded
more than 10% from its 52-week intraday high, in correction territory. The
Nasdaq composite was down more than 2.5%, also trading in correction territory.
Traders also noted failure to hold technical levels and concerns ahead of
potential Thursday night news. In mid-morning trade, the Dow regained more than
half of an opening decline of 317.90 points after the China Securities
Regulatory Commission suspended its recently implemented circuit breaker system
Thursday morning ET. Overnight, a 7% drop in mainland Chinese indexes triggered
a circuit breaker, with Chinese markets open for less than half an hour in
total.
The halt was the second in a week. As of
afternoon trade, the major U.S. averages were down more than 3.5% each for the
week so far, their first trading week of 2016. In a light day of U.S. economic
news, weekly jobless claims came in at 277,000. The highly anticipated December
employment report is due Friday morning. In midday trade, the Dow Jones
industrial average declined 201 points, or 1.19%, to 16,705. The S&P 500
fell 25 points, or 1.23%, to 1,965, with financials and materials leading all
10 sectors lower. The Nasdaq composite traded down 76 points, or 1.59%, to
4,759. Gold is seen trading about 1.6% higher, crude oil is seen trading about
2.1% lower, and the U.S. dollar is seen trading about 0.7% lower at about
1:45pm Chicago time.
Government of India Procures 18.966 Million Tons of Rice as of January 1,
2016 in KMS 2015-16
Jan 07, 2016
The Food Corporation
of India (FCI), the nodal agency for food grain procurement and distribution
has procured around 18.966 million tons of rice as of January 1, 2016 in KMS 2015-16
(October 2015 - September 2016), according to data by the Ministry of
Consumer Affairs, Food & Public Distribution.
Punjab (9.349 million
tons), Haryana (2.854 million tons) and Chhattisgarh (2.311 million tons) are
the top contributors to the central pool so far in KMS 2015-16.
Last week, Food
Ministry officials told reporters that the pace of procurement was higher than
expected due to a decline in prices of common variety of rice in various
markets across the country.
The government of
India is planning to procure around 30 million tons of rice in the KMS 2015-16.
FAO Global Rice Price Index Increases Slightly in December 2015 After
Declining Continuously for Fifteen Months
Jan 07, 2016
The FAO All Rice Price
Index increased by one point to around 197 points in December 2015 after
declining continuously for fifteen months.
According to the FAO,
prices of the Higher quality sub-index India remained stable at 180 points,
while those of the Lower Quality Indica sub-index increased by about 2% to 181
points. While the Japonica sub-index declined by 1% to 242 points, the Aromatic
sub-index increased by 4% 152 points due to a recovery of basmati prices.
In January - December
2015, the FAO All Rice Price Index averaged 211 points, down about 10.5% from
around 235 points during the same period last year. Sub-index for higher
quality Indica rice prices declined about 11% y/y and sub-index for lower
quality Indica rice prices declined about 8.7% y/y. Aromatic rice price
sub-index declined about 31.1% y/y, and the sub-index for Japonica rice prices
declined by about 0.9% y/y.
According to the FAO,
rice quotations in Thailand declined due to the arrival of new crop supplies.
Prices in India firmed up due to government procurement and quotations in
Vietnam remained stable. Quotations in Pakistan also increased due to
strengthening of its currency. Prices in the Americas declined while those in
Brazil increased due to tightening of supplies, according to the FAO.
During December 2015,
average rice export quotations (on fob basis) of Thai 100% broken rice, Thai 5%
rice, Thai 25% rice and Thai parboiled rice declined to around $373 per ton,
$362 per ton, $356 per ton and $364 per ton respectively. Average export prices
of Thai A1 Super rice and Thai Fragrant rice increased to around $332 per ton
and $782 per ton respectively.
Export prices of
Vietnam 25% broken rice increased to around $345 per ton. Quotations of India
25% broken rice declined to around $310 per ton and those of and Pakistan 25%
broken rice increased to around $287 per ton. While U.S. 4% broken rice variety
increased to around $500 per ton, U.S. California 4% rice declined to around
$815 per ton. Uruguay 5% rice remained unchanged at around $510 per ton.
Oryza U.S. Rough Rice Recap - Prices Dip as Export Sales Disappoint; Second
Vessel Booked Out of Lake Charles
Jan 08, 2016
The U.S. cash market
was weaker today as long grain exports for the last week of 2015 disappointed
market participants.
Analysts also note
that there was a second vessel of long grain paddy sold out of the Port of Lake
Charles, Louisiana, reportedly at cheaper levels than what it would cost
exporters to ship the paddy by barges from Arkansas to New Orleans, Louisiana.
In the meantime, the
USDA reported that cumulative net export sales for the week that ended on
December 31 totaled 51,300 tons, a decrease of 30% from the previous week
and 11% lower than the prior 4-week average.
Increases were
reported for the following destinations: 24,700 tons to South Korea, 10,000
tons to Haiti, 5,000 tons to unknown destinations, 4,300 tons to Panama, and
3,200 tons to Saudi Arabia, while a reduction of 100 tons was reported for
Mexico.
U.S. rice exporters
shipped 33,700 tons, a decrease of 9% from than last week and 41% lower than
the prior 4-week average.
Increases were
reported for the following destinations: 12,900 tons to South Korea, 9,000 tons
to the United Kingdom, 5,700 tons to Mexico, 2,700 tons to Canada, and 900 tons
to Yemen.
Laos Aims to Produce 4.2 Million Tons of Paddy Rice in 2016
Jan 07, 2016
The government of Laos
is aiming to produce 4.2 million tons of paddy rice in 2016 to ensure adequate
supply for domestic consumption and exports, local sources quoted the Ministry
of Agriculture and Forestry.
The Ministry noted
that it plans to allocate 2.1 million tons for domestic consumption, one million
tons for exports, 640,000 tons for processing, 400,000 tons for reserves, and
60,000 tons for seeding purposes.
“To achieve the set
targets, we have to determine the production areas for rainy and dry seasons
across the country,” said the Director General of the Planning and Cooperation
Department of the Ministry of Agriculture and Forestry.
He also noted that the
government needs to monitor the rice production process and water supply
closely in order to ensure effective rice production. "We must also repair
existing irrigation systems that are damaged in order to ensure sufficient
water for the rice," he said.
The USDA estimates
Laos to produce around 2.778 million tons of paddy rice (around 1.75 million
tons, basis milled) from around 925,000 hectares in 2016.
Thailand Rice Exports Decline Sharply in First Eleven Months of 2015
Jan 07, 2016
Thailand exported
around 8.58 million tons of rice in the first eleven months of 2015, down about
10% from around 9.49 million tons exported during the same period last year,
according to data from Thai Rice Exporters Association (TREA). In value terms,
Thailand rice exports earned around $3.98 billion in the eleven-month period,
down about 15% from around $4.69 billion earned during the same period last
year.
In November 2015,
Thailand exported around 763,419 tons of rice, down about 37% from around 1.2
million tons exported in October 2015, and up about 6% from around 721,955 tons
exported in November 2014.
In value terms,
Thailand’s rice exports earned about $332.87 million from total rice exports
during the month, down about 32% from around $487.33 million earned in October
2015, and down about 12% from around $379.39 million earned in November 2014.
During the month,
white rice exports accounted for around 446,987 tons (about 59% of total
November 2015 exports), Hom Mali rice exports accounted for about 138,301 tons
(about 18% of total November exports), brokens accounted for 49,195 tons (about
6% of total November 2015 exports), glutinous variety accounted for 7,690 tons
(about 1% of total November 2015 exports), parboiled rice accounted for about
116,813 tons (about 15% of total November 2015 exports) and husked/brown rice
accounted for about 4,433 tons (about 0.5% of total November 2015 exports).
Average export prices
of all varieties of rice, except the husked (brown) rice, declined during the
month.
Thailand, Vietnam Rice Sellers Lower Some of Their Quotes Today; Other Asia
Rice Quotes Unchanged
Jan 07, 2016
Thailand rice sellers
lowered their quotes for 25% broken rice by about $5 per ton to about $335-$345
per ton today. Vietnam rice sellers lowered their quotes for 5% broken rice by
about $5 per ton to about $350-$360 per ton . Other Asia rice sellers kept
their quotes unchanged today .
5% Broken Rice
Thailand 5% rice is
indicated at around $350 - $360 per ton, on par with Vietnam 5% rice shown at around
$350 - $360 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 $5 per ton discount on
Vietnam 25% rice shown at around $340- $350 per ton. India 25% rice is
indicated at around $325 - $335 per ton, about $20 per ton premium on Pakistan
25% rice shown at around $305 - $315 per ton.
Parboiled
Rice
Thailand parboiled
rice is indicated at around $355 - $365 per ton. India parboiled rice is
indicated at around $345 - $355 per ton, about $60 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 $315 - $325 per ton, about $20 per ton discount to
Vietnam 100% broken rice shown at around $335 - $345 per ton. India's 100%
broken rice is shown at around $265 - $275 per ton, about $20 per ton discount
to Pakistan broken sortexed rice shown at around $285 - $295 per ton.
Government of Iraq Procures 54,000 Tons of Rice from Farmers During 2015-16
Harvest Season
Jan 07, 2016
The government of Iraq
procured 54,000 tons of rice from farmers during on on-going 2015-16 harvest
season, which ended today, Bloomberg quoted the Director-General of the Iraq
grain board.
In November 2014, the
government set prices at 700,000 dinars (around $639) per ton for jasmine
quality rice and at around 900,000 dinars (around $822) per ton for anber
variety.
The country's annual
consumption is estimates at around 1.2 million tons.
Thailand, Vietnam Rice Sellers Lower Some of Their Quotes Today; Other Asia
Rice Quotes Unchanged
Jan 07, 2016
Thailand rice sellers lowered
their quotes for 25% broken rice by about $5 per ton to about $335-$345 per ton
today. Vietnam rice sellers lowered their quotes for 5% broken rice by about $5
per ton to about $350-$360 per ton . Other Asia rice sellers kept their quotes
unchanged today .
5% Broken Rice
Thailand 5% rice is
indicated at around $350 - $360 per ton, on par with Vietnam 5% rice shown at
around $350 - $360 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 $5 per ton discount on
Vietnam 25% rice shown at around $340- $350 per ton. India 25% rice is
indicated at around $325 - $335 per ton, about $20 per ton premium on Pakistan
25% rice shown at around $305 - $315 per ton.
Parboiled
Rice
Thailand parboiled
rice is indicated at around $355 - $365 per ton. India parboiled rice is
indicated at around $345 - $355 per ton, about $60 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 $315 - $325 per ton, about $20 per ton discount
to Vietnam 100% broken rice shown at around $335 - $345 per ton. India's 100%
broken rice is shown at around $265 - $275 per ton, about $20 per ton discount
to Pakistan broken sortexed rice shown at around $285 - $295 per ton.
۔
Russia Rice Exports Decline Sharply in First Five Months of 2015-16 Despite
Increase in Production
Jan 07, 2016
Russia's rice exports declined
by about 67% to around 35,400 tons in the first five months of 2015-16 (July -
November) from around 102,700 tons despite the country recording a 5.8% y/y
increase in production in 2015, according to UkrAgroConsult.
Reduction in purchases
from its major importers is understood to be the main reason for a decline in
exports this year.
Russia's major
importer Turkey reduced its purchases by about 89% y/y to around 7,400 tons
during the five-month period from around 66,000 tons last year. Decline in imports
by Turkey from Russia is very pronounced despite estimations that the country
is will increase its rice imports by about 4% in 2015-16. The share of Turkey
in Russia exports is likely to fall significantly this year from about 40% last
year.
Russia's other
important buyer Turkmenistan reduced its purchases by about 30% in the first
five months of 2015-16 compared to the same period in 2014-15.
The USDA estimates
Russia to export 190,000 tons of rice in MY 2014-15 (January - December 2015)
and about 160,000 tons in MY 2015-16.
News have been shared with written permission of ORYZA.com with thanks.
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