Milled Rice Output to Decline 2% y/y to 103.61 Million Tons
Feb 16, 2016
The government of
India forecasts India's 2015-16 (July - June) milled rice output to decline
about 2% to around 103.61 million tons from around 105.48 million tons in 2014-15.
The government in its
second advance estimates for major crops estimates output from the kharif rice
crop (July - December) at around 90.59 million tons, down about 1% from last
year's 91.39 million tons. Kharif crop accounts for about 87% of the country's
total rice output. The decline is attributed to 14% deficiency in 2015 monsoon
rains between July and September.
Output from the
smaller rabi rice crop (November - May) is estimated to decline about 7.5% to
around 13.02 million tons in 2015-16 from around 14.09 million tons last year.
According to the
Directorate of Economics & Statistics under the Ministry of Agriculture,
the government targets to achieve an output of around 106.10 million tons
(around 92.1 million tons from kharif and around 14 million tons from rabi).
The government
estimates India's 2015-16 total food grain production to increase marginally to
around 253.16 million tons from around 252.02 million tons last year due to an
expected increase in production of wheat and pulses. The food grain output is
expected to increase despite prevailing dry conditions and below-average rains.
"Overall food
grain output is likely to be better than last year despite deficit monsoon for
two straight years,” the Agriculture Minister was quoted.. "Timely
contingency measures and promotion of better crop varieties restricted loss in
production," he adds.
EU Imports 526,984 Tons of Rice in September 1, 2015 - February 9, 2016; Up
19% from Previous Year
Feb 16, 2016
According to the
latest data issued by the European Union (EU), rice imports by the EU increased
sharply since the beginning of the crop year 2015-16 (September 1, 2015 -
August 31, 2016).
The EU imported about
526,984 tons of rice during the period September 1, 2015 - February 9, 2016, up
about 19% from around 441,482 tons imported during the same period last year.
Japonica rice imports
declined about 3% to around 38,686 tons in September 1, 2015 - February 9, 2016
period from around 39,800 tons during the same period last year. Indica rice imports
increased about 21.5% to around 488,298 tons during the said period from around
401,682 tons last year.
The UK remained the
largest importer in September 1, 2015 - February 9, 2016 period with around
121,888 tons followed by France (90,732 tons), The Netherlands (61,144 tons),
Poland (40,793 tons), Germany (39,530 tons), and Italy (38,510 tons).
Other EU countries imported 134,387 tons.
During the week ended
February 9, 2016, the EU imported around 29,564 tons of rice, up about 50% from
around 19,668 tons imported during the week ended February 2, 2015.
The EU imported around
1.143 million tons of rice in the crop year 2014-15, up about 12.7% from around
1.013 million tons imported in the crop year 2013-14.
Government of India Procures 26.13 Million Tons of Rice as of February 11,
2016; Up 21% from Previous Year
Feb 16, 2016
Paddy procurement by
The Food Corporation of India (FCI) and other government agencies in the
2015-16 kharif marketing season (KMS) has reportedly reached around 26.13
million tons as on February 11, 2016, up about 21% from around 21.54 million
tons during the same time last year, the Economic Times quoted the Food
Minister.
The government is
targeting to procure about 30 million tons in KMS 2015-16.
The Minister has
assured that there is no shortage of food grains in the country despite two
consecutive years of deficient rains. He also told reporters that the
government is taking all measures to ensure that socially weaker sections would
receive the food grains at subsidized prices.
India’s rice stocks in
the central pool as of February 1, 2016 stood at around 28.95 million tons
(including a milled equivalent of about 12.71 million tons of paddy), up about
16% from around 24.88 million tons recorded during the same period last year,
according to data from the Food Corporation of India (FCI). Month-over-month,
India's rice stocks in the central pool are up about 11% from around 26.025
million tons recorded on January 1, 2016.
India
Hopes to Secure One Million Ton Rice Export Deal with Indonesia
Feb 16, 2016
The government of
India is hoping to secure a one million ton rice export deal with Indonesia, as
the South East Asian nation is likely to witness a fall in its rice production
this year due to the extending dry conditions, according to the Economic Times.
"Indonesia is
expecting a fall in rice production this year and looking to imports rice.
Indonesia has started the negotiation process," a government source was
quoted. The source noted that a final price is not yet decided but the economic
cost to the government for the one million tons of rice comes to about Rs.3,300
crore (around $485 million).
The source assured
that the government's rice stocks are in a comfortable position. India’s rice
stocks in the central pool as of February 1, 2016 stood at around 28.95 million
tons (including a milled equivalent of about 12.71 million tons of paddy), up
about 16% from around 24.88 million tons recorded during the same period last
year, according to data from the Food Corporation of India (FCI).
Month-over-month, India's rice stocks in the central pool are up about 11% from
around 26.025 million tons recorded on January 1, 2016.
Paddy procurement by
Indian government in the 2015-16 kharif marketing season (KMS) has reportedly
reached around 26.13 million tons as on February 11, 2016, up about 21% from
around 21.54 million tons during the same time last year. The government is
targeting to procure about 30 million tons in KMS 2015-16.
However, India’s rice
exports declined about 10% to around 7.79 million tons in the first nine months
of FY 2015-16 (April - December 2015) from around 8.65 million tons during the
same period last year due to a decline in demand from African nations as well
as a stiff competition with Thailand, Vietnam and Pakistan.
Sri Lanka Plans to Export Surplus Rice to Southern African Region
Feb 16, 2016
The government of Sri
Lanka, which has about 200,000 tons of surplus paddy rice, is planning to
export it to the Southern African nations, according to the Sunday Times Sri
Lanka.
The Minister of Rural
Economy P. Harrison told reporters that the government's rice stocks are far
above that required for domestic consumption. He noted that negotiations were
underway with Ghana and Nigeria who are keen on importing rice from Sri Lanka.
“We are negotiating
and are hopeful of securing a good price for our rice,” he was quoted.
The government is also
planning to clear the excess rice stocks by distributing it among the
recipients of its social welfare scheme 'Samurdhi.'
The government of Sri
Lanka is reportedly expecting paddy rice output from the 2015-16 Maha crop
(September - March) at around 2.93 million tons, up about 7% from around 2.74
million tons last year.
Farmers
Urged to Increase Indica Rice Hectarage
Italian Rice Feb 16, 2016
The President of the
Association of the Italian Milling Industries (AIRI) urged rice farmers to
increase the hectarage under the Indica varieties, according to local sources.
Indica rice hectarage
in Italy has been declining over the past few years due to low prices and high
imports.
Speaking in a meeting
last week, the AIRI President called upon the farmers unions to join forces to
defend the Italian rice sector, starting from the decisions on imminent sowing,
as well as sharing a common strategy for access to the highest EU
decision-making levels. He also noted that the AIRI is planning for an alliance
with the three most important Italian Unions (Coldiretti, Confagricoltura and
Cia) in order to deal directly the European Commissioner or agriculture Phil
Hogan agriculture and the Commissioner for trade Cecilia Malmstrom, to seek
their support in defending the Italian rice sector.
"In a few years
the Italian market has grown from 2 million and a half tons to 2 million 800
thousand tons," he said. More immigrates people, who consume more indica
rice; the growth of Italian cuisine, with its risotto, but also the ethnic one,
like sushi employing round varieties; a wider use of rice as an ingredient in
cereals for breakfast or other preparations are some of the reasons for an
increase in rice consumption in the country.
"I see a great
prospect for rice cultivation, if we succeed to face the external threats:
Italy can grow up to 250,000 hectares compared to the 232,000 of last crop
year," he added. The official noted that 75,000-80,000 hectares of typical
varieties such as Carnaroli, Vialone Nano, Baldo and more, 45,000-50,000
hectares of Ribe type, other 60,000-70,000 hectares of round, and 60,000-65,000
hectares of Indica would be an ideal bifurcation of the rice varieties in a
year.
Indica rice acreage
reached around 35,000 hectares in 2015, and the first indications on
sowings for 2016 show a further decline, he says.
Oryza U.S. Rough Rice Recap - Prices Seen Unchanged as Market Waits for
Iraqi Tender Results
Feb 17, 2016
The U.S. cash market
was mostly unchanged today with little trading to report. Analysts note that
market participants are eagerly awaiting the results of the latest Iraq tender.
Offers need to be
submitted on February 21 and must remain valid until February 25. Many are
hopeful that Iraq will buy more than the 90,000 MT that they tendered for.
Maldives Plans to Import Rice from Bangladesh, Says Maldivian Government
Official
Feb 16, 2016
The Maldives is
planning to import rice, medicine, sands and other necessary products from
Bangladesh, the Financial Express quoted the Maldivian High Commissioner to
Bangladesh.
He reportedly conveyed
the same message to the Bangladesh Commerce Minister on a visit to Bangladesh.
The development
reportedly comes after a joint working group was formed in November 2015 to
boost trade between the two countries. The Commerce Minister noted that
Bangladesh exported products worth $5.64 million to the Maldives and imported
products worth $1.16 million in FY 2014-15 (July - June).
Thailand 2015 Rice Exports Decline 11% y/y to 9.795 Million Tons
Feb 16, 2016
Thailand exported
around 9.795 million tons of rice in 2015, down about 11% from around 10.969
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 $4.51 billion during the year, down about 16% from around $5.38
billion earned during the same period last year.
During the year, white
rice exports accounted for around 4.87 million tons (about 50% of total 2015
exports), Hom Mali rice exports accounted for about 1.385 million tons (about
14% of total 2015 exports), brokens accounted for 1.036 million tons (about
10.6% of total 2015 exports), glutinous variety accounted for 124,190 tons
(about 1% of total 2015 exports), parboiled rice accounted for about 2.32 tons
(about 24% of total 015 exports) and husked/brown rice accounted for about
65,165 tons (about 0.6% of total 2015 exports). Average export prices of
all varieties of rice declined during the year.
In December 2015,
Thailand exported around 1.22 million tons of rice, up about 60% from around
763,419 tons exported in November 2015, and down about 17.5% from around 1.48
million tons exported in December 2014. In value terms, Thailand’s rice exports
earned about $537.11 million from total rice exports during the month, up about
61% from around $332.87 million earned in November 2015, and down about 22.5%
from around $693.75 million earned in December 2014.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Move
Higher as Firmer US Grains Provide Support
Feb 17, 2016
Chicago rough rice
futures for Mar delivery settled 7.5 cents per cwt (about $2 per ton) higher at
$10.840 per cwt (about $239 per ton). The other grains finished the day higher;
Soybeans closed about 0.7% higher at $8.6775 per bushel; wheat finished about
1.4% higher at $4.6900 per bushel, and corn finished the day about 1.2% higher
at $3.6775 per bushel.
U.S. stocks traded
higher Tuesday, helped by gains in consumer discretionary and financials, as
well as positive developments in China. Consumer discretionary gained more than
2% to lead the S&P 500 higher. The U.S. Commerce Department said on Friday
that core retail sales, which exclude automobiles, gasoline, building materials
and food services, increased a more-than-expected 0.6% last month after an
unrevised 0.3% decline in December. U.S. markets were closed Monday for
Presidents Day. Mainland Chinese markets reopened Monday after a week-long
Lunar New Year holiday and closed higher Tuesday, with the Shanghai composite
up more than 2.5% for the week so far. The Nikkei 225 held slight gains Tuesday
for week-to-date gains of nearly 7.4%.In midday trade, the Dow Jones industrial
average traded up 156 points, or 0.9%, to 16,130. The S&P 500 gained 22
points, or 1.19%, to 1,886, with consumer discretionary leading nine sectors
higher and energy the only decliner. The Nasdaq composite rose 72 points, or
1.66%, to 4,409. Gold is seen trading about 2.9% lower, crude oil is seen
trading about 1.2% lower, and the U.S. dollar is seen trading about 1% higher
at about 2:35pm Chicago time.
Friday, there were
1,614 contracts traded, up from 1,019 contracts traded on Thursday. Open
interest – the number of contracts outstanding – on Friday increased by 466
contracts to 13,243.
Thailand Sells 152,377 Tons of Stockpiled Rice in First Auction of This
Year
Feb 16, 2016
The government of
Thailand has sold 152,377 tons of stockpiled rice worth 1.78 billion baht
(around $50 million) in the first auction of this year, Reuters quoted sources
from the Commerce Ministry.Bids of 15 private companies were reportedly
successful in today's auction. The Ministry noted that the sale would be
approved by Thailand's rice management committee but did not provide a time
frame. Rice from about 35 warehouses was offered in the auction.The Ministry
aimed to sell between 500,000 - 600,000 tons of rice, including about 204,000
tons of "good grade" rice for human consumption in the first lot and
about 360,000 tons of "Grade C" rice for industrial use in the second
lot, in February 2016.
The Ministry has
invited bids for the auction of second lot of rice from interested parties from
February 17, 2016.Earlier this month, the Commerce Ministry Permanent Secretary
noted that the market prices of rice won't be affected due to the current
auctions as paddy from the 2015-16 crop has already reached the market.The
government currently holds about 13 million tons of rice in its stockpiles and
it is reportedly planning to clear the stocks by the end of 2017.
Global
Rice Quotes
February 17th, 2016
Long grain white rice - high quality
Thailand 100% B grade 370-380
↔
Vietnam 5% broken 345-355 ↔
India 5% broken 360-370
↔
Pakistan 5% broken 340-350 ↓
Myanmar 5% broken 415-425 ↔
Cambodia 5% broken 425-435
↔
U.S. 4% broken 460-470
↔
Uruguay 5% broken 440-450 ↔
Argentina 5% broken 430-440 ↔
Long grain white rice - low quality
Thailand 25% broken 345-355 ↔
Vietnam 25% broken 335-345 ↑
Pakistan 25% broken 310-320 ↔
Cambodia 25% broken 405-415
↔
India 25% broken 325-335
↔
U.S. 15% broken (sacked) 440-450
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 370-380
↔
Pakistan parboiled 5% broken stxd NQ
↔
India parboiled 5% broken stxd 350-360
↔
U.S. parboiled 4% broken 480-490
↔
Brazil parboiled 5% broken 520-530
↔
Uruguay parboiled 5% broken NQ
↔
Long grain fragrant rice
Thailand Hommali 92% 680-690
↓
Vietnam Jasmine 430-440
↑
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 750-760
↔
Brokens
Thailand A1 Super 325-335
↔
Vietnam 100% broken 320-330
↔
Pakistan 100% broken stxd 290-300
↑
Cambodia A1 Super 345-355 ↔
India 100% broken stxd 260-270
↔
Egypt medium grain brokens NQ
↔
U.S. pet food 280-290 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Thailand Rice Sellers Lower Some
of Their Quotes Today; Pakistan Rice Quotes Mixed Today
Feb 16, 2016
Thailand
rice sellers lowered their quotes for 25% broken rice by about $5 per ton to
around $345-$355 per ton today. Pakistan rice sellers increased their quotes
for 5% broken rice by about $5 per ton to around $345-$355 per ton and lowered
their quotes for 25% broken rice by about $10 per ton to around $310-$320 per
ton. Other Asia rice sellers kept their quotes unchanged today.
5%
Broken Rice
Thailand
5% rice is indicated at around $360 - $370 per ton, about $15 per ton premium
on Vietnam 5% rice shown at around $345 - $355 per ton. India 5% rice is
indicated at around $360 - $370 per ton, about $15 per ton premium on Pakistan
5% rice shown at around $345 - $355 per ton.
25%
Broken Rice
Thailand
25% rice is indicated at around $345 - $355per ton, about $15 per ton premium
on Vietnam 25% rice shown at around $330- $340 per ton. India 25% rice is
indicated at around $325 - $335 per ton, about $15 per ton premium on Pakistan
25% rice shown at around $310 - $320 per ton.
Parboiled
Rice
Thailand
parboiled rice is indicated at around $370 - $380 per ton. India parboiled rice
is indicated at around $350 - $360 per ton, about $55 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 premium on Vietnam 100% broken rice shown at around $320 - $330 per ton. India's
100% broken rice is shown at around $260 - $270 per ton, about $25 per ton
discount to Pakistan broken sortexed rice shown at around $285 - $295 per ton.
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