Cold Weather Destroys 10,725 Hectares of Paddy Fields in Vietnam
Jan 29, 2016
Cold weather in
Northern Vietnam destroyed around 10,725 hectares of paddy fields, Vietnam News
quoted officials from Food Cooperatives.
Livestock and
vegetables are also said to have been severely impacted by cold weather.
Saigon Times reports
that prices of vegetables and meat have risen significantly due to the impact
of cold weather conditions on crops. Vegetable prices are likely to double if
cold weather continues.
India Average Wholesale Rice Prices Increase for Third Consecutive Month in
January 2016 on Concerns of Low Production
Jan 29, 2016
Oryza U.S. Rough Rice Recap - Price Firm Slightly despite Dismal Export
Sales
Jan 30, 2016
The U.S. cash market
was slightly firmer again today despite dismal export sales figures as many
market participants are hopeful the U.S. will receive additional demand from
Colombia in addition to the February 1 TRQ.
The USDA reported
that cumulative net export sales for the week that ended on January 21,
totaled 22,700 tons, a decrease of 46% from the previous week and 57% lower
than the prior 4-week average.
Increases were
reported for the following destinations: 9,100 tons to Honduras including 4,000
tons switched from unknown destinations, 9,100 tons to Canada, 5,600 tons to
Mexico, 700 tons to Papua New Guinea, and 400 tons to Guatemala while
reductions of 4,000 tons were reported for unknown destinations.
U.S. rice exporters
shipped 42,700 tons, a decrease of 43% from than last week and 7% lower than
the prior 4-week average.
Increases were
reported for the following destinations: 14,200 tons to Haiti, 12,500 tons to
Japan, 4,400 tons to Honduras, 4,000 tons to Mexico, 2,400 tons to Canada, and
2,000 tons to South Korea.
India average
wholesale rice prices which declined in October 2015 with the beginning of the
kharif (June - December) rice harvest, have been increasing since November 2015
on concerns of lower output due to El Nino-induced below-average monsoon rains
in many rice growing areas.
Average monthly
wholesale rice prices in India increased to around Rs.2,866.27 per quintal in
January 2016, up about 8% from around Rs.2,645,06 per quintal in December 2015,
and up about 1% from their year-ago levels of around Rs.2,836 per quintal.
In terms of USD per
ton, wholesale rice prices in India stand at around $427 per ton (using current
exchange rates) in January 2016, up about 7% from around $399 per ton (using
historical exchange rates) in December 2015, and down about 7% from around $448
per ton (using historical exchange rates) in January 2015.
Analysts are expecting
India’s average prices to increase if India’s production is dampened by
intensifying El Nino weather pattern, which is likely to cause drought
conditions in Asia.
The government of India
has forecasted the 2015-16 kharif (June - December) rice production at around
90.6 million tons, slightly down from around 90.86 million tons in 2014-15.
Oryza Weekly: Rice Prices Surge on Concerns of High Demand, Low Output
Jan 30, 2016
The Oryza White Rice
Index (WRI), a weighted average of global white rice export quotes, ended the
week at about $386 per ton, up about $3 per ton from a week ago, down about $2
per ton from a month ago and down about $37 per ton from a year ago.
The World Bank, in its
Commodity Market Outlook report, forecasts rice prices to remain below $400 per
ton in 2016 and up to 2020.
Global stocks jumped
after the Bank of Japan lowered interest rates to negative territory, a move
that should improve liquidity. China's stock market bounced but still logged
the biggest monthly drop in 7 years. Data showed the U.S. economy hit a rough
patch in Q4 2015 as inventories rose and trade slowed. Iran pushed OPEC crude
oil output to a new high as sanctions are lifted. A U.S. Federal Reserve policy
maker said in an interview that the central bank would be patient on U.S.
interest rate policy, given global risks.
Thailand
Thailand 5% broken
rice is today shown at about $370 per ton, up about $10 per ton from a week
ago, up about $20 per ton from a month ago and down about $35 per ton from a
year ago.
In 2015, Thailand
exported about 9.8 million tons of rice, about 10.7% less than in 2014.
In terms of value, Thai rice exports declined about 15.2% y/y to around $4.61
billion.
In 2016, Thailand
plans to sell about 300,000 tons of rice to Iran, according to
the Thai Rice Exporters Association.
Rice exports in 2016
are expected to decline about 800,000 tons from last year to around 9 million
tons, according to the Thai Rice Exporters Association.
The President of the
Thai Rice Exporters Association is optimistic that Thai rice exports will
increase this year and Thailand will regain top rice exporter status from
India.
Former Thai Prime
Minister Yingluck Shinawatra criticized the government for using an
administrative process rather than a court lawsuit to seek compensation from in
the rice-pledging case on her Facebook and Twitter pages.
The government of
Thailand has hiked the paddy rice output goal for the 2016-17 crop year to
around 27.17 million tons from the earlier target of 25 million tons based on
higher demand estimates.
Vietnam
Vietnam 5% broken rice
is today shown at about $355 per ton, up about $5 per ton from a week ago, down
about $10 per ton from a month and a year ago.
During the period
January 1-20, Vietnam exported about 108,959 million tons of rice, about 50%
less than in January 2015 and about 86% less than last month. The average
export price so far in January is about $365 per ton, about 19% less than a year
ago and about 10% less than a month ago.
The USDA Post
forecasts Vietnam’s 2016 rice exports to reach about 6 million tons, about 8%
less than last year, due to expected low carry-over stocks from MY 2014-15
(January-December).
Cold weather in
Northern Vietnam destroyed around 10,725 hectares of paddy fields, a
development that could increase rice prices domestically.
Cambodia &
Myanmar
Cambodia 5% broken rice is today shown at about $430 per ton,
unchanged from a week ago and a month ago, and down about $15 per ton from a
year ago.
The Prime Minister of
Cambodia has asked for more investment in rice storage and drying facilities in
order to facilitate more exports. Specifically, the Prime Minister is
optimistic that the country will supply rice to the Philippines this year,
competing with Thailand and Vietnam. Additionally, the government and
Cambodian Rice Federation are working to brand and market Cambodian jasmine
rice as distinct from Thai jasmine rice, hoping to position it as “extra
premium” rice.
Myanmar 5% broken rice is today shown at about $420 per ton,
unchanged from a week ago, up about $5 per ton from a month and a year ago.
India
India 5% broken rice
is today shown at about $360 per ton, unchanged from a week and a month ago,
and down about $40 per ton from a year ago.
As of January 28,
India 2015-16 winter/rabi rice (November-May) planting area has reached about
2.241 million hectares, a decrease of about 7% from the same period in
2014-15. The decline is attributed to scanty rains and low moisture in
some rice growing regions. Despite this decline, this year’s planting is
ahead of the previous 4-year average.
Average monthly
wholesale rice prices in India increased to around Rs.2,866.27 per quintal in
January 2016, up about 8% from around Rs.2,645,06 per quintal in December 2015,
and up about 1% from their year-ago levels of around Rs.2,836 per quintal. The
increase can be attributed to concerns of lower output due to El Nino-induced
below-average monsoon rains in many rice growing areas.
Wholesale basmati rice
prices in the national capital have declined this week due to a slackened
demand from retailers.
The National Rice
Research Institute (NRRI) in India has developed a new rice variety that is
enriched with higher level of protein compared to the traditional rice
varieties.
Pakistan
Pakistan 5% broken
rice is today shown at about $345 per ton, up about $5 per ton from a week ago,
up about $10 per ton from a month ago and down about $15 per ton from a year ago.
The Chairman of the
Rice Exporters Association of Pakistan is calling for appropriate payment
mechanisms in order to facilitate exports to Iran.
Central &
South America
The government of Guyana
is advising farmers to delay rice planting activities for the 2016 crop due to
the beginning of the El Nino-induced dry season.
Brazil 5% broken rice is today shown at about $460 per ton,
unchanged from a week ago, down about $10 per ton from a month ago and
down about $80 per ton from a year ago. The Brazilian paddy rice index
maintained by the Center for Advanced Studies on Applied Economics (CEPEA)
reached around 41.94 real per 50 kilograms as of January 25, 2016, up about
1.11% from around 41.48 real per 50 kilograms recorded on January 18,
2016. In terms of USD per ton, the index reached around $205.03 per ton
on January 25, 2016, up about 0.24% from around $204.53 per ton recorded a week
ago. Month-on-month, the index has increased about 2.39% from around
40.96 real per 50 kilograms recorded month ago. In terms of USD, the index
declined about 3.34% during the month.
Five per cent broken
rice from Uruguay and Argentina is today
shown at about $470 per ton, down about $10 per ton from a week ago, down about
$40 per ton from a month ago and down about $130 per ton from a year ago.
Argentina has exported around 267,466 tons of rice in the first ten months of
2015 (January - October), down about 42% from around 458,950 tons exported
during the same period in 2014, according to data from the Ministry of Agriculture
in Argentina.
Ongoing drought
conditions brought on by El Nino are impacting production of rice in Cuba,
and the government is likely to impose price controls on rice in order to
address the concerns of low production and supplies.
U.S.
U.S. 4% broken rice is
today shown at about $470 per ton, unchanged from a week ago, down about $10
per ton from a month ago and down about $30 per ton from a year ago.
The U.S. and China
have finalized their rice trade agreement, establishing phytosanitary or pest
control rules necessary to allow U.S. rice into China.
Chicago rough rice
futures for March delivery climbed higher this week, continuing to recover from
the recent decline. After opening at $11.000 per cwt (about $243 per ton)
on both Monday and Tuesday, futures gained steadily, reaching the weekly high
of $11.480 per cwt (about $253 per ton) on Thursday before settling slightly to
close at $11.350 per cwt (about $250 per ton) Friday.
The U.S. cash market
was slightly firmer this week but trade remained quiet as buyers and sellers
couldn’t agree on price.
Other Markets
Paddy rice production
in 2015 in the Philippines is down about 4.31% from 2014,
reaching about 18.15 million tons, according to the Philippine Statistics
Authority. However, the government has decided to defer the plan to
import 400,000 tons of rice for delivery in the second quarter of 2016 because
there is enough supply, according to the National Food Authority.
Meanwhile, the Economic Planning Secretary says the government must focus on
achieving rice self-sufficiency since the effects of El Nino were less drastic
than anticipated. The Philippines Department of Agriculture (DA) has set the
2016 paddy rice production target at around 19 million tons.
The National
Development Planning Minister of Indonesia says the government
needs about 1.2 million tons of rice in order to maintain adequate stocks by
the end of March 2016. The government plans to balance rice supply-demand
in order to control price hikes.
The government of Sri
Lanka expects record paddy rice output from the 2015-16 Maha crop
(September-March) to reach about 2.93 million tons, an increase of about 7%
from last year.
Taiwan’s Council of Agriculture, Agriculture and Forest Agency
has announced the country specific quotas for the 2016 Simultaneous Buy and
Sell rice tender.
The Prime Minister of Malaysia
announced that the government will distribute 20 kilograms of rice per month to
families registered in need under a new aid program.
The government of Bangladesh
plans to build five steel silos with total capacity to store about 345,000 tons
of rice, and it will invite bids from interested parties in August.
According to data from
Statistics Korea, the per capita rice consumption in the South Korea
fell to around 62.9 kilograms in 2015, down about 3.4% from around 65.1
kilograms in 2014. The per capita rice consumption is reportedly lowest since
1963 and more than half of around 136.4 kilograms in 1970 when the consumption
hit a record high. Meanwhile, South Korea is planning to begin rice exports to
China in February 2016 after both the governments agreed on a set of quarantine
requirements after the South Korea-China summit talks in October last year.
Since September 1,
rice imports by the European Union have increased sharply,
with the EU importing about 441,465 tons of rice between September 1 and
January 19, an increase of about 28% from the same period last year.
European paddy quotes showed mixed trends during the week January
12 - 19, 2016, after remaining firm during the previous week, according to the
European quotations supplied by the European Commission (EC) on January 19,
2016.
Italy’s Ente Nazionale Risi (National Agency for Rice) will
organize a technical meeting on February 4 with hopes of helping rice farmers
and breeders with the latest developments in the rice value chain.
Italian paddy rice
prices declined in the third week of January 2016 after being relatively stable
during the previous week. Most of the paddy varieties declined as of January
26, 2016 compared to those on January 19, 2016.
On February 10, Spain’s
Institute of Research and Technology Food and Agriculture will conduct the
annual technical rice conference.
The government of Cameroon
has reinstated the 5% customs duty on rice imports under the 2016 Finance Act.
The state grain buyer
for Egypt, the General Authority for Supply Commodities, has
canceled a tender to purchase an unspecified amount of rice.
Government of Philippines Sets 2016 Paddy Rice Output at 19 Million Tons
Jan 29, 2016
The Philippines
Department of Agriculture (DA) has set the 2016 paddy rice production target at
around 19 million tons, but may not be adequate to fulfil the country’s rice
self-sufficiency goal, the Philippine Star quoted the Agriculture Secretary.
“For us to hit a
higher target, we need at least 20 million metric tons but we were not given the
budget needed to hit the 20-million mark. We asked for additional budget (for
rice sufficiency) but it was not granted. So don’t expect higher production,”
he said.
He noted that the DA
needs more seeds to reach 100% rice sufficiency level.
The country produced
18.149 million tons of paddy in 2015, lower than the DA's 19.5 million ton
target due to the prolonged dry conditions and other natural calamities.
Regarding imports the
Agriculture Secretary said: “We will definitely need additional volume for import.
But, NFA is in a position to monitor how much remains from previous years’
importation.”
Earlier this week the
National Food Authority (NFA) noted that the country may not need additional
imports for the lean season (July - September) as the actual impact of El Nino
was not as severe as expected. It also noted that there were adequate stocks to
meet the rice consumption needs. The Food Security Committee said there is
enough rice supply until the end of June 2016.
The NFA already
imported 500,000 tons of rice from Thailand and the Philippines under G2G
deals. The rice is for delivery by March 2016.
Former Thai Premier Criticizes Government Over Rice Case on Social Media
Jan 29, 2016
Former Thai Prime
Minister Yingluck Shinawatra criticized the government for using an
administrative process rather than a court lawsuit to seek compensation from
her in the rice-pledging case on her Facebook and Twitter pages, according to
Bangkok Post.
She said she was again
appealing on social media because the government has not acknowledged her six
previous letters on the subject. She emphasized that the losses from the
rice-pledging scheme had not been accounted for correctly, and it was unfair to
hold her solely responsible for the losses. She sought protection until the
legal case is in progress.
She earlier noted that
a civil lawsuit in the Court would give her an opportunity to defend herself
whereas an administrative order would bypass courts. She emphasized that
issuing an administrative order would mean rushing through the legal processes
and not letting her prove her innocence.
However, Deputy Prime
Minister had reiterated that the rice-pledging case against the former Premier
Yingluck Shinawatra is receiving fair treatment from the government and is in
compliance with the law.
The former Prime
Minister is facing charges of dereliction of duty in preventing multi-billion
dollar graft in running the controversial rice pledging scheme introduced by her
government in October 2011. The scheme is estimated to have caused losses to
the extent of about 500 billion baht (around $14 billion) to the government. If
proved guilty in the present case, she may have to face imprisonment for ten
years.
South Korea to Begin Rice Exports to China in Mid-February 2016
Jan 29, 2016
South Korea is
planning to begin rice exports to China in February 2016 after both the
governments agreed on a set of quarantine requirements after the South
Korea-China summit talks in October last year, Yonhap News quoted sources from
the Ministry of Agriculture.
The Ministry is
planning to ship 30 tons of rice from the Gunsan port on the west coast this
week. The vessel will leave in early February and reach Shanghai in
mid-February.
Ministry sources told
reporters that after clearing Chinese customs procedures, the Korean rice will
be marketed at 69 outlets of the Shanghai Lotte Market. The Ministry is also
reportedly planning to hold promotional events in China between February and March
this year.
The Korean government
is planning to ship another 70 tons of rice to China in the middle of February
through Korea's Daewoo International Corp. and the China National Cereals, Oils
and Foodstuffs Corp. The government hopes to export a total of 2,000 tons of
rice to China in 2016.
"Entering the
Chinese market will be an opportunity for Korea's rice exports amid continued
imbalance in supply and demand of the key staple grain," said the Korean
Agriculture Minister.
Thailand Hikes Paddy Rice Output Target on Higher Demand Estimates
Jan 29, 2016
The government of
Thailand has hiked the paddy rice output goal for the 2016-17 crop year to
around 27.17 million tons from the earlier target of 25 million tons based on
higher demand estimates, Reuters quoted the Commerce Ministry Permanent
Secretary.
The Thai government
revised the target after government officials and private sector
representatives met and re-evaluated the expected demand for Thai rice,
according to a statement from the Commerce Ministry.
The Ministry estimates
Thailand's 2015-16 paddy rice output at around 27.06 million tons. The output
is said to have declined significantly over 2014-15 due to extending drought
conditions.
The Thai Rice
Exporters Association (TREA) is estimating Thailand to export 9 million tons of
rice in 2016, down from around 9.79 million tons exported in 2015.
Thailand still holds around 13
million tons of rice in its stockpiles
Wholesale Basmati Rice Prices in India Decline on Slackened Demand
Jan 29, 2016
Wholesale basmati rice
prices in the national capital have declined today due to a slackened demand
from retailers, according to the Press Trust of India (PTI).
On January 29, 2016,
prices of Pusa 1121 declined to around Rs.4,000 - 4,900 per quintal (around
$588 - $721 per ton) from around Rs.4,250 - 5,000 per quintal (around $626 -
$751 per ton) on January 21, 2016.
Prices of common
basmati rice declined to around Rs.5,200 - 5,300 per quintal (around $765 -
$779 per ton) from previous levels of around Rs.5,300 - 5,400 per quintal (around
$781 - $796 per ton).
"Sluggish demand against
sufficient stocks position on higher supplies from producing belts mainly kept
pressure on rice basmati prices," traders were quoted as saying
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Close
Higher as Market Gains Nearly $0.50/cwt on the Week; Surprise Announcement by
Bank of Japan Sparks Broad Based Buying
Jan 30, 2016
Chicago rough rice
futures for Mar delivery settled 4 cents per cwt (about $1 per ton) higher at
$11.350 per cwt (about $250 per ton). The other grains finished the day higher;
Soybeans closed about 1.7% higher at $8.8225 per bushel; wheat finished about
1.5% higher at $4.7925 per bushel, and corn finished the day about 1.8% higher
at $3.7200 per bushel.
U.S. stocks rose more
than 1% Friday, the last trading day of January, after the Bank of Japan
unexpectedly adopted a negative interest rate policy for the first time.
Encouraging earnings reports, a better-than-expected Chicago PMI report and
some stabilization in oil prices also helped push equities higher. U.S. crude
oil futures settled up 40 cents, or 1.20%, at $33.62 a barrel, for its first
four-day win streak since April. Global equities climbed after the Bank of
Japan's surprise announcement, with the Nikkei reversing mild losses to close
up 2.8%. The Shanghai composite closed 3.09% higher. European stocks ended more
than 1% higher, with the STOXX 600 up more than 2%.In early afternoon trade,
the Dow Jones industrial average traded up 275 points, or 1.71%, to 16,345. The
S&P 500 traded up 31 points, or 1.65%, to 1,924, with information
technology leading all 10 sectors higher. The Nasdaq composite gained 65
points, or 1.46%, to 4,572. Gold is seen trading about 0.1% higher, crude oil
is seen trading about 0.9% higher, and the U.S. dollar is seen trading about
1.1% higher at about 2:00pm Chicago time.
Thursday, there were
935 contracts traded, down from 429 contracts traded on Wednesday. Open
interest – the number of contracts outstanding – on Thursday increased by 262
contracts to 13,381.
Thailand Rice Sellers Increase Some of Their Quotes Today; Other Asia Rice
Quotes Unchanged
Jan 29, 2016
Thailand rice sellers
increased their quotes for premium rice (100% B) by about $5 per ton to about
$380-$390 per ton today. Asia rice sellers kept their quotes mostly
unchanged today.
5% Broken Rice
Thailand 5% rice is
indicated at around $365 - $375 per ton, about $15 per ton premium on Vietnam 5%
rice shown at around $350 - $360 per ton. India 5% rice is indicated at around
$355 - $365 per ton, about $15 per ton premium on Pakistan 5% rice shown at
around $340 - $350 per ton.
25% Broken
Rice
Thailand 25% rice is
indicated at around $350 - $360 per ton, about $10 per ton premium 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 $370 - $380 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 $320 - $330 per ton, on par with 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 $30 per ton discount to Pakistan
broken sortexed rice shown at around $290 - $300 per ton.
Argentina Rice Exports Decline Sharply in First Ten Months of 2015
Jan 29, 2016
Argentina has exported
around 267,466 tons of rice in the first ten months of 2015 (January -
October), down about 42% from around 458,950 tons exported during the same
period in 2014, according to data from the Ministry of Agriculture in
Argentina.
In October 2015,
Argentina exported around 51,959 tons of rice, up about 61% from around 32,236
tons exported in September 2015 and up about 4.5 times from around 11,607 tons
exported in October 2014.
Argentina exported
around 42,200 tons of rice to Iraq (about 81% of total October 2015 exports),
around 5,175 tons of rice to Chile (about 10% of October 2015 exports), around
1,900 tons of rice to Costa Rica (about 4% of October 2015 exports) and around
1,160 tons of rice to Brazil (about 2% of October 2015 exports) in October
2015.
It exported the
remaining 3% or around 1,524 tons of rice to Bolivia (551 tons), Canada (18
tons), U.S. (568 tons), Paraguay (160 tons), Nicaragua (200 tons), U.K. (25
tons), and Uruguay (2 tons).
India Develops New Rice Variety with Higher Protein Level
The National Rice
Research Institute (NRRI) in India has developed a new rice variety that is
enriched with higher level of protein compared to the traditional rice
varieties, according to the Times of India. The new variety is said to contain
more than 10% protein content.
"The new variety
will help in reducing malnutrition," said the Director of the NRRI.
"This is a major breakthrough in the field of rice research. Generally
rice varieties have around 7% protein," he added.
According to the NRRI
Director, the new variety is developed by crossing a high protein and lower
yielding variety from Assam with Naveen, a high yielding variety. The new
variety will yield about five tons per hectare, he said.
He noted that the new
variety would be sent for large scale seed production after getting approval
from the Central Variety Releasing Committee.
The Director also
assured that the NRRI would enhance research in aromatic rice varieties.
South Korea Per Capita Rice Consumption Reaches Record Low in 2015
Jan 29, 2016
South Korea's per
capita rice consumption hit a record low in 2015 due to shifting preferences
for food, Yonhap News quoted the data from Statistics Korea.
According to data from
Statistics Korea, the per capita rice consumption in the country fell to around
62.9 kilograms in 2015, down about 3.4% from around 65.1 kilograms in 2014. The
per capita rice consumption is reportedly lowest since 1963 and more than half
of around 136.4 kilograms in 1970 when the consumption hit a record high.
The data shows that
daily rice consumption per person also declined to around 172.4 grams in 2015
from around 178.2 grams in 2014.
"The steady drop
can be attributed to people reducing their rice intake and diversifying their
diets with other alternative grains like wheat, barley, beans, and corn,"
said the statistics agency.
The agency data also
shows that the per capita consumption of non-rice grain increased to around 8.8
kilograms in 2015 from around 8.7 kilograms in 2014. The agency noted that the
percentage of non-rice grains in the country's diet has increased to around
12.3% last year from around 9.4% in 2011.
The South Korean government has
been facing higher production and lower consumption of rice over the last few
years. In December last year, the government had decided to strike a balance
between rice supply and demand by 2018 through a gradual reduction in paddy
production and an increase in consumption
News have been shared with written permission of ORYZA.com with thanks.
No comments:
Post a Comment