Sri Lanka Grants Duty Free Access to Pakistan Basmati Rice
Jan 05, 2016
Sri Lanka has granted
duty free access to 102 products from Pakistan, including basmati rice, oranges
and engineering goods, as part of a free trade agreement (FTA), according to
Lanka Business Online.
The two countries have
agreed to include services and investment chapters in the bilateral FTA, that
was signed in 2005. They have reportedly agreed to offer preferential market
access to each other’s' exports through tariff concessions.
The Premiers of the
two countries finalized the extended bilateral FTA today in Colombo. They also
signed 8 bilateral agreements in the fields of hydro power, cement, fishing and
navel.
“This would enable our
companies to form joint ventures for exports for third countries. Sri Lanka
enjoys exceptional position of being the first country with which Pakistan
entered into a FTA,” said the Pakistan Prime Minister. “The present
volume of trade does not reflect the true potential. We have agreed to
re-liberate our efforts to realize the goal of achieving one billion dollars
bilateral trade target at the earliest.” he added.
Italy's
Piedmont Region to Tighten Controls on Organic Rice Growers
Jan 05, 2016
The administration of Italy's Piedmont region has decided to
tighten controls on organic rice growing in order to prevent speculation
against the consumers' confidence, according to local sources.
Organic rice in the European Union (EU) is generally grown
according to specified practices, including the elimination of chemicals and
the use of a crop rotation. Yields are low and prices are high for organic
rice.
"We want farmers to continue to make organic rice, a
real opportunities for them. We decided to tighten up controls to offer better
guarantees, both for consumers and businesses in order. Those who try to be
cunning must be punished: not it will be easier," the alderman for
agriculture of Piedmont told local sources.
He noted that the tighter controls are needed because the
organic rice farmers are found not to use all their farmland for organic rice.
Nearly 90% of farmers use only part of their area for organic growing. Most of
the organic rice farmers do not obtain resources from the Rural Development
Plan and are controlled by private certification bodies, who determine whether
the producers are meeting the organic standards. The region has decided to
increase pressure on the private certification bodies to take a closer look at
the organic rice growing practices, starting from sowing time. The analysis of
samples will also include all active principles allowed in conventional
farming.
The new standards will be prepared by the University of
Turin. The monitoring bodies can start with the inspections in 2016, and are
expected to give account to the Region.
Australian Weather Forecaster Predicts Chances of La Nina in Second Half of
2016
Jan 05, 2016
Australia's Bureau of
Meteorology (ABM) has predicted that the current conditions of El Nino will
return to neutral during the second quarter of 2016 with chances of La Nina
occurrence in the second half of 2016, according to Bloomberg.
Most of the other El
Nino-Southern Oscillation indicators also suggest that the current El Nino has
peaked and will decline in the coming months.
La Nina is said to be
an opposite phenomenon of El Nino and is often associated with a cooling in the
equatorial Pacific Ocean. While El Nino brings droughts to Asia and South
America, and heavy rains to the U.S., La Nina brings dry conditions to the U.S.
and heavy rains to Australia and Indonesia. El Nino events are generally
followed by La Nina events, according to the ABM. They are extreme phases of a
naturally occurring cycle, according to the National Oceanic and Atmospheric
Administration (NOAA) and both peak during the Northern hemisphere winter.
Analysts are
predicting that a transition from a strong El Nino to a strong La Nina may lead
to volatility in rice and other grains prices. Global rice prices were expected
to increase due to likely lower production in the top rice producing countries,
including India and Thailand. However, the effects of the current El Nino have
not been properly factored by rice market due to lack of demand.
Experts Call for Curtailing $533 Million Annual Rice Wastage in Saudi
Arabia
Jan 05, 2016
Experts noted that
curtailing rice wastage of about 700,000 tons worth SR 2 billion (around $533
million) per year would help the economy significantly and keep rice prices in
check, according to Arab News.
According to local
sources, about 40% of the rice slated for domestic consumption is wasted
because of banquets, celebrations and social occasions involving providing food
for guests. Saudi Arabia is the largest rice consumer outside the East Asian
countries with an annual consumption demand of about 1.4 million tons worth
about SR 5 billion (around $1.3 billion). Saudi Arabia imports about 68% of its
annual rice requirements.
Prices have been
increasing due to increasing demand according to experts. In 2015, prices
increased by about 5% to around 31 halala per kilogram (around 310 riyal or $82
per ton).
"Unscrupulous
merchants, extravagant consumers, monopolization practices and alluding to a
limited number of importers are the main reasons for such price hikes during
past years," said the former Chairman of the Saudi Consumer Protection
Association (CPA).
"It is a known
economic fact that when demand is high, prices increase. The solution in this
case is to rationalize consumption by raising awareness among people on the
importance of saving and rationalizing in consumption,” said one of the
country's leading economists.
Some youth organizations
are striving to stop abundant food leftovers during social occasions.
Oryza U.S. Rough Rice Recap - Prices Edge Higher as Trade Activities Picks
up in the New Year
Jan 06, 2016
The U.S. cash market
was slightly firmer today with uptick in trade activity as both buyers and
sellers showed a willingness to come off of their price ideas to get something
done.
Colombian authorities
announced today that they will hold a Tariff Rate Quota auction for 65,972 tons
of export licenses on February 1 for shipment no later than June 30.
This is Col-Rice’s
first auction in 2016 and the licenses will allow the successful bidders to
export U.S. rice duty-free to Colombia.
Indonesia May Import 350,000 Tons of Rice in First Quarter of 2016
Jan 05, 2016
The government of
Indonesia is planning to import 350,000 tons of rice in the first quarter of
2016 to enhance stocks and curb price hikes, Jakarta Globe quoted the
Coordinating Minister for Economic Affairs.
The Minister told
reporters that the government is also planning to rely on sugar, soybean and
cattle imports in the first three months of 2016 to maintain the inflation
within its 3-5% target.
"Information from
[the Meteorological, Climatology and Geophysics Agency] and the Agriculture
Ministry showed that we will likely experience food shortage at the end of
February and March," he was quoted. "The situation will return to
normal in April, as we can expect [a rice] harvest," he added.
Indonesia already
imported one million tons of rice from Thailand and Vietnam in the last quarter
of 2015. About 485,000 tons of rice has arrived in the country.
Last week, the Trade
Minister also hinted at additional rice imports in the first quarter of 2016
though he did not mention the volume.
Stocks with the
country's state logistics agency Bulog currently stand at about one million
tons. According to data from the UN's Food and Agricultural Organization (FAO),
average domestic rice prices have reached a high of Rp 10,633 per kilogram
(around $784 per ton) in December and the government is undertaking rice market
operations in an effort to stabilize rice prices at around Rp 8,300 per
kilogram ($612 per ton), price at which Bulog normally sells rice to the
public.
The USDA estimates
Indonesia to import 1.6 million tons of rice in 2016, up from an estimated 1.4
million tons in 2015. It estimates Indonesia's paddy rice production to
increase to around 57.165 million tons in 2016, up from around 56.315 tons in
2015.
Global
Rice Quotes
January 5th, 2016
Long grain white rice - high quality
Thailand 100% B grade 360-370
↑
Vietnam 5% broken 355-365
↔
India 5% broken 355-365
↔
Pakistan 5% broken 335-345
↔
Myanmar 5% broken 410-420
↔
Cambodia 5% broken 425-435
↔
U.S. 4% broken 475-485
↔
Uruguay 5% broken 510-520
↔
Argentina 5% broken 505-515
↔
Long grain white rice - low quality
Thailand 25% broken 335-345
↔
Vietnam 25% broken 345-355
↔
Pakistan 25% broken 305-315
↔
Cambodia 25% broken 400-410
↔
India 25% broken 325-335
↔
U.S. 15% broken 500-510
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 355-365 ↑
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 445-455
↔
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 830-840
↔
Brokens
Thailand A1 Super 315-325
↔
Vietnam 100% broken 340-350
↔
Pakistan 100% broken stxd 285-295
↔
Cambodia A1 Super 355-365
↔
India 100% broken stxd 265-275
↔
Egypt medium grain brokens NQ
↔
U.S. pet food 290-300
↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Rally as
Cash Market Sees Uptick in Buying Interest and Firmer Grains Add Support
Jan 06, 2016
Chicago rough rice
futures for Mar delivery settled 15.5 cents per cwt (about $3 per ton) higher
at $11.925 per cwt (about $263 per ton). The other grains finished the day
higher; Soybeans closed about 0.2% higher at $8.5725 per bushel; wheat finished
about 0.7% higher at $4.6125 per bushel, and corn finished the day about 0.4%
higher at $3.5300 per bushel.
U.S. stocks traded in
a range Tuesday, attempting to steady after a sharply lower start to the year,
as a decline in oil prices weighed. The major U.S. averages fluctuated between
gains and losses. The Dow transports attempted gains after earlier falling to
hit a fresh 52-week low. European stocks ended higher, but off session highs.
Earlier, Dow futures recovered a decline of more than 100 points to trade about
20 points lower ahead of the market open, with traders noting support from
gains in European stocks. Overnight, the Shanghai composite swung in a 4% range
before closing down about 0.3%. The blue-chip CSI300 closed nearly 0.3% higher.
The Hang Seng fell more than half a percent, while the Nikkei 225 was off about
0.4%.
The People's Bank of
China (PBOC) injected nearly $20 billion into money markets, its largest cash
injection since September, Reuters reported, noting traders suspected the PBOC
was using state banks to prop up the yuan at the same time. In afternoon trade,
the Dow Jones industrial average declined 63 points, or 0.38%, to 17,084. The
S&P 500 traded down 2 points, or 0.13%, to 2,010, with energy leading six
sectors lower and telecommunications the greatest advancer. The Nasdaq composite
fell 14 points, or 0.29%, to 4,888. Gold is seen trading about 0.3% higher,
crude oil is seen trading about 2.4% lower, and the U.S. dollar is seen trading
about 0.5% higher at about 2:30pm Chicago time.
Monday, there were 986
contracts traded, up from 797 contracts traded on Thursday. Open interest – the
number of contracts outstanding – on Monday decreased by 325 contracts to
13,476.
Seaweed Extracts can Enhance Rice Growth by 30%, Find Philippines
Scientists
Jan 05, 2016
Scientists from the Philippine
Nuclear Research Institute (PNRI) have found that extracts from seaweeds can
boost rice production as well protect rice plants from major pests when they
are treated with slight gamma radiation, according to a study published in the
January edition of the Radiation Physics and Chemistry journal.
A team of scientists
led by the Chief of PNRI's chemistry research section showed that the
carrageenan-derived polysaccharide, a carbohydrate, enhances rice growth when
degraded through a “very small dose” of gamma radiation. They developed the
carrageenan plant food supplementor (CPFS), which is derived from carrageenan
extracted from red edible seaweeds.
The PNRI scientist
told reporters that the chemical arrangement of carrageenan can provide more
agricultural benefits. The long-chain carrageenan polymer can be broken down
into shorter chain fragments known as oligomers, which can be easily absorbed
by plants to help their growth and development and also improve their
resistance to diseases.
“Using gamma
radiation, we were able to cut up the polymer into oligomers without using
chemicals or complicated and expensive processes,” she says. The CPFS is nor
radioactive and is a clean and add additive-free method that is safe,
non-toxic, environment friendly and, most of all, effective, she adds. The
scientist noted that the new technology can increase rice yields by at least
30%.
She also notes that
rice plants treated with CPFS have produced longer rice stems and panicles
compared to conventional crops. CPFS also induces resistance against major rice
pests such as rice tungro virus and bacterial leaf blight, she told.
A scientist at the at
the National Crop Protection Center and who headed the field trials in Bulacan
noted that three bags of chemical fertiliser per hectare combined with 200
parts per million or 20 millilitres per litre of CPFS yielded higher rice grain
weight of 450 grams per 10 hills (mound of soil that is planted with seeds). On
the other hand, the conventional farmers’ practice of applying nine bags of
chemical fertiliser per hectare yields a grain weight of only 275 grams per 10
hills.
Philippines Plans to Import More Rice from Vietnam and Thailand in 2016,
Says NFA Administrator
Jan 05, 2016
The National Food
Authority (NFA) of Philippines is planning to import more rice from Vietnam and
Thailand in 2016 to ensure rice sufficiency throughout the country this year,
local sources quoted the NFA Administrator.
He told reporters that
the agency is planning to import at least 50,000 tons of rice from Vietnam and
Thailand to ensure enough rice stocks in times of calamity or disaster that may
occur this year.
“See to it that we
have enough rice in time of calamities that can immediately be dispatched to
various disaster councils and local government units,” the NFA official was
quoted.
Last month, the
official noted that the NFA was planning to finalize the volume and timing of
the additional rice imports of about 300,000 - 400,000 tons approved by the NFA
Council and the Cabinet Task Force on El Nino.
The NFA already
imported 500,000 tons from Vietnam and Thailand for the first quarter of 2016.
The Philippines imported around 1.8 million tons of rice in 2015.
New imports may push
up Thai and Vietnam rice export quotes which have eased during December 2015
due to lack of demand. Thai 5% and Vietnam 5% rice quotes have declined to
around $355 per ton and $360 per ton respectively in the new year from around
$355 per ton and $375 per ton in the beginning of December 2015.
Thailand Rice Sellers Increase Their Quotes Today; Other Asia Rice Quotes
Unchanged
Jan 05, 2016
Thailand rice sellers
increased their quotes for 100% high quality rice and parboiled rice by about
$5 per ton each to about $360-370 per ton and $355-$365 per ton, respectively,
today. Other Asia rice sellers have kept their quotes unchanged today .
5% Broken Rice
Thailand 5% rice is
indicated at around $345 - $355 per ton about $10 per ton discount on Vietnam
5% rice shown at around $355 - $365 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 $335 - $345 per ton, about $10 per ton discount on Vietnam
25% rice shown at around $345- $355 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 $25 per ton discount
to Vietnam 100% broken rice shown at around $340 - $350 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.a
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