Oryza U.S. Rough Rice Recap - Prices Firm Slightly with Futures; Buyers
Reluctant to Pay Up
Jan 22, 2016
The U.S. cash market
was firmer today with offers from resellers increasing with the futures market;
however, most buyers were reluctant to chase these offers higher today.
Analysts note that most farmers
remain on the sidelines waiting for prices to improve; however, some believe
that the market will need to trade lower in the near term to spur new demand
before prices can rally later in the marketing year
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Find
Support from Firmer Beans and Wheat; Oil Moves Higher despite Increased
Inventory
Jan 22, 2016
Chicago rough rice
futures for Mar delivery settled 14 cents per cwt (about $3 per ton) higher at
$10.980 per cwt (about $242 per ton). The other grains finished the day with
mixed results; Soybeans closed about 0.5% higher at $8.7850 per bushel; wheat
finished about 0.7% higher at $4.7500 per bushel, and corn finished the day
about 0.5% lower at $3.6700 per bushel.
U.S.
stocks traded mostly higher Thursday, trying to extend Wednesday's late-session
recovery as oil recovered slightly from multiyear lows. Also supporting gains
were morning comments from European Central Bank President Mario Draghi that
raised hopes of more stimulus as early as the March meeting. Data released late
Wednesday by the American Petroleum Institute showed crude inventories rose by
4.6 million barrels, while the EIA reported commercial crude inventories rose by
about 4 million barrels. Crude inventories climbed to the highest level since
1990. As of afternoon trade Thursday, the major U.S. indexes were down about 8%
or more for the year so far and more than 10% below their 52-week intraday
highs, in correction territory.
U.S.
Federal Reserve Chair Janet Yellen will testify on monetary policy and the
economy before the Senate Banking Committee on Feb. 11 and before the House
Financial Services Committee on Feb. 10 for the U.S. central bank's semi-annual
monetary policy report, Reuters said Thursday. European stocks closed nearly 2%
higher after Draghi's comments. Earlier, the European Central Bank kept rates
unchanged. In U.S. economic data, weekly jobless claims came in at 293,000, a
six-month high.
The
January Philadelphia Fed index showed minus 3.5. In early afternoon trade, the
Dow Jones industrial average gained 146 points, or 0.93%, to 15,912. The
S&P 500 traded up 12 points, or 0.65%, to 1,871, with energy leading eight
sectors higher and health care and utilities the only decliners. The Nasdaq
composite gained 17 points, or 0.38%, to 4,488. Gold is seen trading about 0.5%
lower, crude oil is seen trading about 4.5% higher, and the U.S. dollar is seen
trading about 0.1% lower at about 2:00pm Chicago time.
Wednesday, there were
1,133 contracts traded, up from 960 contracts traded on Tuesday. Open interest
– the number of contracts outstanding – on Wednesday decreased by 147 contracts
to 13,426.
Tags: Pakistan Rice Export Earnings Decline Sharply in First Six Months of
FY 2015-16 Despite Increase in Tonnage
Jan 21, 2016
Pakistan exported
around 2.05 million tons of rice (including 189,084 tons of basmati and 1.87
tons of non-basmati) in the first six months of FY 2015-16 (July - December),
up about 15% from around 1.53 million tons (251,496 tons of basmati and 1.1
million tons of non-basmati) exported during the same period in FY 2014-15,
according to provisional data from the Pakistan Bureau of Statistics (PBS).
However, Pakistan's
rice exports declined in terms of value during the said period. Pakistan earned
around $869 million during the six months of FY 2015-16, down about 11% from
around $977 million earned last year. The decline is attributed to a sharp
decline in global rice prices as well as a slow demand.
In December 2015,
Pakistan exported around 475,346 tons of rice, down about 13% from around
547,286 tons exported in November 2015 and down about 3% from around 491,452
tons exported in December 2014. In terms of value, Pakistan earned about $180.9
million in December 2015, down about 11% from around $203.6 million earned in
November 2015 and down about 24% from their year-ago levels of around $238.2
million.
Pakistan exported
around 39,589 tons of basmati rice in December 2015, up about 14% from around
34,600 tons exported in November 2015, and up about 8% from around 36,589 tons
exported in December 2014. In terms of value, Pakistan's basmati rice exports
earned $34 million in December 2015, up about 10% from around $31 million
earned in November 2015, and down about 23% from around $44 million earned in
December 2014.
Pakistan exported
around 435,757 tons of non-basmati rice in December 2015, down about 15% from
around 512,686 tons exported in November 2015 and up about 4% from around
454,863 tons in December 2014. In terms of value, Pakistan's non-basmati rice
exports earned $147 million in December 2015, down about 15% from around $172
million earned in November 2015, and down about 24% from around $194 million
earned in December 2014.
Pakistan Rice Exporters Advised to Focus on Importers' Specifications to
Boost Exports
Jan 21, 2016
The Head of an
European supply chain company based in Hamburg, Germany, advised Pakistan rice
exporters to focus on meeting the specification of importers, especially to the
U.S. and European markets, according to the Nation.
The official was
invited as a guest speaker at a workshop organized by the Rice Exporters
Association of Pakistan (REAP). The workshop aimed at highlighting the
challenges and issues being faced by Pakistan rice exporters to European and
American markets.
In his lecture titled
‘Current topics of Basmati Rice-EU market, food safety and authenticity,’ he
noted that Pakistan rice exports to European nations has been picking up but
advised exporters to pay more attention to issues such as aflatoxins, pesticide
residue and also new regulations being made by these markets. He stated that of
late, complaints regarding aflatoxins in Pakistan rice consignments have come
down considerably. Likewise, he urged the exporters to handle the other issues
also in a similar manner.
A large number of
exporters attended the workshop.
EU Rice Imports Increase Sharply in September 1, 2015 - January 12, 2016
Jan 21, 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
419,524 tons of rice during the period September 1, 2015 - January 12, 2016, up
about 31% from around 392,569 tons imported during the same period last year.
Japonica rice imports
increased about 15% to around 30,402 tons in September 1, 2015 - January 12,
2015 period from around 26,511 tons during the same period last year. Indica
rice imports increased about 32% to around 389,122 tons during the said period
from around 294,936 tons last year.
The UK remained the
largest importer in September 1, 2015 - January 12, 2016 period with around
101,903 tons followed by France (75,397 tons), Netherlands (46,412 tons),
Germany (31,874 tons), Poland (29,552 tons) and Italy (28,264 tons). Other EU
countries imported 106,122 tons.
During the week ended
January 12, 2015, the EU imported around 26,514 tons of rice, about twice from
around 13,028 tons imported during the week ended January 5, 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.
All Indian States to Implement National Food Security Act by April 2016,
Says Food Minister
Jan 21, 2016
All Indian states are
likely to implement the National Food Security Act (NFSA), by April 1, 2016,
according to a press release by the Ministry of Consumer Affairs Food and
Public Distribution.
Under the NFSA, the
government of India is providing wheat at Rs.2 per kilogram (around 3 cents)
and rice at Rs.3 per kilogram (around 4.5 cents). Twenty five states and Union
territories have started implementing the NFSA by the end of last year.
The Minister of
Consumer Affairs Food and Public Distribution told in a media briefing that the
system of direct cash transfers is being implemented in the states of
Chandigarh and Pondicherry. He noted that all the 36 states/union territories
in India have online systems for redressal of PDS grievances.
The Minister also
stated that the procurement policy for paddy was modified in the KMS 2015-16
(October 1, 2015 - September 30, 2016) based on the recommendations of High
Level Committee on restructuring of the Food Corporation of India (FCI) to
ensure that all farmers receive the minimum support price (MSP) for their
paddy. As a result huge paddy procurement has been made during Kharif season,
he said.
The FCI reportedly
procured around 20.81 million tons of rice as of January 12, 2016, up about 32%
from around 15.74 million tons last year.
India’s rice stocks in
the central pool as of January 1, 2015 stood at around 26.025 million tons
(including a milled equivalent of about 13.34 million tons of paddy), up about
14% from around 22.79 million tons recorded during the same period last year,
according to data from the Food Corporation of India (FCI).
Indonesia to Decide Over Additional Rice Imports Before March 2016
Jan 21, 2016
The government of
Indonesia is likely to decide over importing more this year before March 2016,
according to Bloomberg. The decision is understood to help the country's state
logistics agency Bulog to manage supplies effectively.
The President Director
of Bulog noted that the agency had received about 900,000 tons of rice imports
by the end of 2015 and will receive the remaining 600,000 tons of rice in the
first quarter of 2016. Indonesia imported about 1.5 million tons of rice from
Vietnam and Thailand in 2015.
The Bulog official
noted that agency currently has 1.49 million tons of rice in stocks.
Vietnam Exporters Foresee Fall in Export Quotes as Thailand Plans to Clear
Rice Stocks
Jan 21, 2016
Vietnam rice exporters
have expressed concern that Thailand's sale of its rice stocks may significantly
push down the export quotes and impact Vietnam's rice exports, according to
Vietnam News Agency.
The Chairman of the
Vietnam Food Association (VFA) and some exporters were responding to Thailand's
plans to clear the remaining 13 million tons of rice in its stockpiles by the
end of 2017.
Some exporters
reminded that export prices fell significantly in 2013 also when Thailand
cleared its stocks and slashed the selling prices. They noted that in September
2013, most of the rice importers adopted a wait and watch approach to see if
prices would fall further. Some importers also forced Vietnamese exporters to
lower their quotes by threatening to withdraw contracts. Vietnamese exporters
had no option but to cut their quotes to around $340 - $360 per ton, which were
below the production costs of around $380 - $390 per ton.
However, the Chairman
of the VFA also expressed optimism that there are a few favourable conditions
for Vietnamese rice this time. A likely decline of Thai rice production and
exports is an advantage to Viet exporters, he said.
“Even if Thailand
tries to export inventory rice to Vietnam’s loyal markets such as China,
Indonesia and the Philippines, Vietnam’s rice will not be dislodged from the
markets,” he said. “This is because Thailand only has a modest volume of white
rice. These markets mostly consume white rice,” he added.
Some leading exporters
added that Vietnam exporters can still expect a decent demand as well as higher
prices as they sell rice from the new crops while Thailand tries to clear its
old stocks.
Currently, Viet 5%
rice is quoted at around $350 - $360 per ton and Thai 5% rice is quoted at
around $355 - $365 per ton.
Global
Rice Quotes
January 22nd, 2016
Long grain white rice - high quality
Thailand 100% B grade 370-380
↑
Vietnam 5% broken 345-355
↓
India 5% broken 355-365
↔
Pakistan 5% broken 335-345
↔
Myanmar 5% broken 415-425
↔
Cambodia 5% broken 425-435
↔
U.S. 4% broken 465-475
↔
Uruguay 5% broken 475-485
↔
Argentina 5% broken 470-480
↔
Long grain white rice - low quality
Thailand 25% broken 345-355
↔
Vietnam 25% broken 340-350
↔
Pakistan 25% broken 305-315
↔
Cambodia 25% broken 405-415
↔
India 25% broken 325-335
↔
U.S. 15% broken 445-455
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 365-375 ↑
Pakistan parboiled 5% broken stxd 405-415 ↔
India parboiled 5% broken stxd 345-355 ↔
U.S. parboiled 4% broken 500-510
↔
Brazil parboiled 5% broken 520-530
↔
Uruguay parboiled 5% broken NQ
↔
Long grain fragrant rice
Thailand Hommali 92% 680-690
↑
Vietnam Jasmine 425-435
↓
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 750-760
↔
Brokens
Thailand A1 Super 320-330
↑
Vietnam 100% broken 330-340
↔
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
Wholesale Basmati Rice Prices in India Firm on Improved Demand
Jan 21, 2016
Wholesale basmati rice
prices in the national capital have increased slightly today due to an
increased buying from traders and stockists against restricted supplies from
producing regions, according to the Press Trust of India (PTI).
On January 21, 2016,
prices of Pusa 1121 increased to around Rs.4,250 - 5,100 per quintal (around
$629 - $751 per ton) from previous quotes of around Rs.4,250 - 5,000 per
quintal (around $628 - $740 per ton).
Prices of common
basmati rice remained stable at previous levels of around Rs.5,300 - 5,400 per
quintal (around $781 - $796 per ton).
"Increased buying
by stockists in the face of restricted supplies from producing regions mainly
attributed the rise in rice basmati prices," traders were quoted as
saying.
Revival of imports by
Iran can be seen as one of the reasons for higher demand by traders.
Thailand Rice Sellers Increase Some of Their Quotes; Vietnam Rice Sellers
Lower Some of Their Quotes
Jan 21, 2016
Thailand Rice sellers
increased their quotes for 5% broken rice, 25% broken rice and parboiled
rice by about $5 per ton each to about $355-$365 per ton, $345-$355 per ton and
$360-$370 per ton respectively. Vietnam rice sellers lowered their quotes
for 100% broken rice by about $5 per ton to about $330-$340 per ton. Other Asia
rice sellers kept their quotes unchanged today.
5% Broken Rice
Thailand 5% rice is
indicated at around $355 - $365 per ton, about $5 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 $20 per ton premium on Pakistan 5% rice shown at
around $335 - $345 per ton.
25% Broken
Rice
Thailand 25% rice is
indicated at around $345 - $355 per ton, about $5 per ton premium o 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 $360 - $370 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 $15 per ton discount
to Vietnam 100% broken rice shown at around $330 - $340 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.
Exclusive News have been shared with written permission of
ORYZA.com with thanks
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