Global Rice Quotes
March 28th, 2016
Long grain white rice - high quality
Thailand 100% B grade 375-385 ↔
Vietnam 5% broken 380-390 ↔
India 5% broken 365-375 ↔
Pakistan 5% broken 335-345 ↔
Myanmar 5% broken 420-430 ↔
Cambodia 5% broken 420-430 ↔
U.S. 4% broken 440-450 ↔
Uruguay 5% broken 435-445 ↔
Argentina 5% broken 425-435 ↔
Long grain white rice - low quality
Thailand 25% broken 355-365 ↔
Vietnam 25% broken 365-375 ↔
Pakistan 25% broken 305-315 ↔
Cambodia 25% broken 400-410 ↔
India 25% broken 335-345 ↔
U.S. 15% broken (sacked) 470-480 ↔
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 490-510 ↔
Uruguay parboiled 5% broken NQ ↔
Long grain fragrant rice
Thailand Hommali 92% 670-680 ↔
Vietnam Jasmine 475-485 ↑
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 755-765 ↔
Brokens
Thailand A1 Super 330-340 ↔
Vietnam 100% broken 350-360 ↔
Pakistan 100% broken stxd 285-295 ↔
Cambodia A1 Super 345-355 ↔
India 100% broken stxd 265-275 ↔
Egypt medium grain brokens NQ ↔
U.S. pet food 315-325 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Drought Damages 320,800 Hectares of Rice Fields in Thailand Since January 2015, Says OAE Mar 24, 2016
El Nino-induced drought has damaged about 2 million rai (around 320,000 hectares) of rice lands in Thailand since January last year, Bloomberg quoted the Office of Agricultural Economics (OAE).
About 1.1 million tons of rice worth 15.5 billion baht (around $442 million) has been damaged as of March 17, 2016, says the OAE.
Most of the damage had occurred in north-eastern and northern provinces. A total of 2.87 million rai of agricultural lands have been reportedly damaged by drought.
Government approved a budget of around 32.4 billion baht (around $924 million) to ease the impact.
Oryza U.S. Rough Rice Recap - Prices Hold despite Marketing Year Low Weekly Export Sales
The U.S. cash market was mostly unchanged today despite the USDA reporting a marketing year low for weekly export sales.
The USDA reported that cumulative net export sales for the week that ended on March 17 totaled 14,500 tons, a decrease of 32% from the previous week and 82% lower than the prior 4-week average.
Increases were reported for the following destinations: 3,500 tons to unknown destinations, 3,200 tons to Canada, 2,600 tons to Japan, 1,100 tons to New Guinea, and 900 tons to Saudi Arabia.
U.S. rice exporters shipped 58,300 tons, a decrease of 23% from last week and 3% lower than the prior 4-week average.
Increases were reported for the following destinations: 30,000 tons to Venezuela, 13,100 tons to Japan, 3,500 tons to Mexico, 2,600 tons to Canada, and 2,200 tons to Taiwan.
USAID Officials Advise Ghana Rice Farmers to Welcome Investment Opportunities to Boost Production
Mar 24, 2016
Officials from the U.S. Agency for International Development (USAID) 'Feed the Future' agriculture support project advised Ghana rice farmers to remain open minded about agriculture investors and welcome them to boost rice production in the country, according to Ghana Web.
The Capacity Building Coordinator of the project noted that most of the small farmers fear being exploited by investors and therefore hesitate to accept and implement business ideas from them. He added that such fears will not help development of the agricultural sector. “Business should be taken as a win-win situation but where farmers think that anybody who is coming to do business with them is coming to cheat them, might drive investors away,” he said. The official advised rice farmers to explore investment opportunities and enhance their productivity and incomes.
He was speaking at a three-day workshop in Ho city, aimed at training network leaders of rice farmer based organizations in the Volta region on agricultural policy.
USAID Feed the Future Agriculture Policy Support Project is a five-year programme aimed to improve the security-enabling environment for private sector investment in agriculture.
Currently, Ghana imports over a half of its annual rice consumption demand and the government is planning to increase rice production by about 20% per annum over the next four years to achieve self-sufficiency in rice production. USDA estimates Ghana to produce around 300,000 tons (milled basis) and import around 600,000 tons of rice in MY 2015-16 to meet consumption needs of around 930,000 tons.
Egypt Plans to Import Rice to Ensure Local Supplies Amid Hoarding by Traders
Mar 24, 2016
The government of Egypt is planning to import rice to ensure uninterrupted rice supplies for the state subsidized rice program as local traders have been hoarding rice in expectation of high prices, according to Bloomberg.
The General Authority for Supply Commodities (GASC) had issued an international tender for an unspecified amount of rice for delivery from April 20 to May 10, 2016. “The government is holding this tender to put pressure on traders to reduce prices after failing to accumulate rice stockpiles, leaving it at the mercy of the traders,” said the head of the rice committee of the trade ministry’s
Agricultural Export Council. He added that this is the first international tender in many years, he said.
The official noted that the situation arose because of the failure of the current administration to store rice while past governments stored as much as 500,000 tons bought from farmers.
Meanwhile, the government cancelled a tender last week to buy local rice due to high prices, according to the AlBorsa daily. The prices offered by traders reportedly reached as high as 5,200 Egyptian pounds ($585) per ton, from 3,200 pounds per ton in December.
Thailand Plans to Hold Road Shows to Boost Rice Exports
Mar 25, 2016
The government of Thailand is planning to hold road shows as part of efforts to boost Thai rice exports and achieve the 9.5 million target, Reuters quoted the Foreign Trade Department's Director-General.
"Senior government officials from Iraq and the Philippines are due to visit Thailand in late April, and we expect to have talks on rice sales with them as well,” she said.
Thai officials are expecting demand to increase due to lower supplies and consequently push up average rice prices to around $400 per ton a ton, up from $350-$370 per ton last year.
The Thai government is also planning to export another 1 million tons of rice to China under a new government-to-government (G2G) deal and senior Commerce Ministry officials will reportedly visit Beijing to negotiate rice sales. It is also expecting higher sales to Iran.
Thailand exported around 2.38 million tons of rice so far this year.
Thailand Exports 1.025 Million Tons of Rice in January 2016, Up 68% y/y and Down 16% m/m
Mar 24, 2016
Thailand exported around 1.025 million tons of rice in the first month of 2016 (January), up about 68% from around 608,504 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 $443 million in January 2016, up about 31% from around $337 million earned during the same period last year.
Month-on-month, Thailand rice exports declined about 16% from around 1.22 million tons exported in December 2015. In value terms, Thai rice exports declined about 18% from around $537.11 million in December 2015.
During the month, white rice exports accounted for around 603,269 tons (about 59% of total January 2016 exports), Hom Mali rice exports accounted for about 121,206 tons (about 16% of total January 2016 exports), brokens accounted for 105,815 tons (about 10% of total January 2016 exports), glutinous variety accounted for 12,460 tons (about 1% of total January 2016 exports), parboiled rice accounted for about 177,317 tons (about 17% of total January 2016 exports) and husked/brown rice accounted for about 5,124 tons (about 0.5% of total January 2016 exports).
Average export prices of all varieties of rice, except the Hom Mali rice, increased during the month.
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.
Thailand Exports 1.025 Million Tons of Rice in January 2016, Up 68% y/y and Down 16% m/m
Mar 24, 2016
Thailand exported around 1.025 million tons of rice in the first month of 2016 (January), up about 68% from around 608,504 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 $443 million in January 2016, up about 31% from around $337 million earned during the same period last year.
Month-on-month, Thailand rice exports declined about 16% from around 1.22 million tons exported in December 2015. In value terms, Thai rice exports declined about 18% from around $537.11 million in December 2015.
During the month, white rice exports accounted for around 603,269 tons (about 59% of total January 2016 exports), Hom Mali rice exports accounted for about 121,206 tons (about 16% of total January 2016 exports), brokens accounted for 105,815 tons (about 10% of total January 2016 exports), glutinous variety accounted for 12,460 tons (about 1% of total January 2016 exports), parboiled rice accounted for about 177,317 tons (about 17% of total January 2016 exports) and husked/brown rice accounted for about 5,124 tons (about 0.5% of total January 2016 exports).
Average export prices of all varieties of rice, except the Hom Mali rice, increased during the month.
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.
USDA Post Forecasts Thailand MY 2015-16 Rice Exports to Decline Sharply on Tight Supplies
Mar 24, 2016
The USDA Post forecasts Thailand's MY 2015-16 (January-December 2016) at around 8 million tons, down from around 9.8 million tons in MY 2014-15 and down from the USDA's official estimates of around 10 million tons due to tight supplies of new-crop white and parboiled rice as well as sluggish demand from African market.
The Post is also expecting the sales of old-rice crop in the stockpiles to slow down in the coming months. Average monthly rice exports for the next eight months are expected at around 600,000 - 700,000 tons as against one million tons in January 2016. However, the Post is expecting the Thai rice exports to accelerate in the last quarter of 2016 when supplies of new-crop white rice enter the market.
The Post forecasts Thailand's MY 2016-17 exports to increase to 10 million due to larger exportable supplies of white and parboiled rice. It also rice exports to be driven by heavily subsidized sales of the Government stocks which are expected to be sold off in 2017.
The USDA Post forecasts Thailand's MY 2015-16 paddy rice production at around 24 million tons, down from last year's 29.4 million tons and down from USDA's official estimates of around 24 million tons due to a sharp reduction in off-season rice acreage and production. The Post forecasts Thai MY 2015-16 off-season rice area at around 1.055 million hectares, down about 46% from last year due to limited water resources. It forecasts off-season paddy production to decline to around 2.966 million tons, down about 60% from last year.
The Post expects MY 2016-17 paddy rice production to increase 11% y/y to 26.5 million tons in anticipation of some recovery in off-season rice production.
The USDA Post forecasts MY 2015-16 rice consumption at around 11.5 million tons, unchanged from USDA's official estimates as expected demand for non-food grade rice in ethanol production will likely be offset by the demand for non-food grade rice in swine feed manufacturers. The Post forecasts MY 2016-17 rice consumption to increase to 12.5 million tons mainly due to larger demand for broken rice in swine feed. The recovery in rice production are expected to likely ease current tight supplies of broken rice. Also, the Government is expected to continue the sales of non-food grade rice stocks for feed use in 2017, says the Post.
The government currently hold 13 million tons (including 7 million of food-grade rice and 6 million tons of non-food grade rice) and is planning to sell off the stocks by mid-2017.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Close the Shortened Week Lower but off of Session Lows
Mar 25, 2016
Chicago rough rice futures for May delivery settled 4 cents were cwt (about $1 per ton) lower at $10.265 per cwt (about $226 per ton). The other grains finished the day higher; Soybeans closed about 0.6% higher at $9.1050 per bushel; wheat finished unchanged at $4.6300 per bushel, and corn finished the day about 0.4% higher at $3.7000 per bushel.
U.S. stocks traded mostly lower Thursday, the final trading day of the week, as a decline in oil prices weighed and traders eyed dollar strength. U.S. crude oil futures came well off session lows to trade just over 1 percent lower, near $39.35 a barrel in afternoon trade. The weekly oil rig count, released Thursday due to the Good Friday holiday, showed a drop of 15 oil rigs. Ahead of the open, St. Louis Federal Reserve President James Bullard said the Fed's next interest rate hike "may not be far off" provided the economy evolves as expected. However, he told reporters in a Reuters report he was undecided on whether to push for a rate hike at the Fed's April meeting partly because to the limited amount of data expected before then. In economic news, weekly jobless claims came in at 265,000. February durable goods orders declined 2.8%.European stocks closed 1.5% lower. In Asia, the major indexes closed lower with the Nikkei 225 down 0.6% and the Shanghai composite 1.6% lower. In afternoon trade, the Dow Jones industrial average declined 70 points, or 0.4%, to 17,432. The S&P 500 traded down 8 points, or 0.4%, to 2,028, with financials leading seven sectors lower and telecommunications leading advancers. The Nasdaq composite declined 13 points, or 0.29%, to 4,755. Gold is seen trading about 0.2% lower, crude oil is seen trading about 1% lower, and the U.S. dollar is seen trading about 0.1% higher at about 1:00pm Chicago time.
Wednesday, there were 425 contracts traded, up from 215 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday decreased by 17 contracts to 12,631.
Oryza Weekly: Rice Market Awaits New Demand as Prices Continue to Fall
The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes, ended the week at $386 per ton, down $3 per ton from a week ago, up $5 per ton and down about $50 per ton from a year ago.
Thailand
Thailand 5% broken rice is today quoted at about $370 per ton, down about $5 per ton from a week ago, up about $10 per ton from a month ago and down about $20 per ton from a year ago.
The government of Thailand maintains its 9.5 million tons rice export target for 2016; Thailand exported about 2.3 million tons of rice during the period January 1 – March 17, an increase of about 28% from during the same period last year.
In January 2016, Thailand exported about 1.025 million tons of rice, an increase of about 68% from the same period last year. In value terms, rice exports earned about $443 million in January, up about 31% from the same period last year.
The Thai Commerce Ministry plans to clinch another one million ton government-to-government rice export deal with China.
The USDA Post forecasts Thailand's MY 2015-16 (January-December 2016) at around 8 million tons, down from around 9.8 million tons in MY 2014-15 and down from the USDA's official estimates of around 10 million tons due to tight supplies of new-crop white and parboiled rice as well as sluggish demand from African market.
El Nino-induced drought has damaged about 2 million rai (around 320,000 hectares) of rice lands in Thailand since January last year, Bloomberg quoted the Office of Agricultural Economics (OAE).
Vietnam
Vietnam 5% broken rice is today quoted at about $385 per ton, up about $5 per ton from a week ago, up about $30 per ton from a month ago, and up about $25 per ton from a year ago.
The Committee for Economic Affairs under the Vietnam National Assembly has approved the government’s proposal to reduce rice growing area in the country by about 270,000 hectares to around 3.76 million hectares by 2020.
Cambodia & Myanmar
Cambodia 5% broken rice is today quoted at about $425 per ton, unchanged from a week and a month ago and up about $5 per ton from a year ago.
Myanmar 5% broken rice is today shown at about $425 per ton, unchanged from a week ago, up about $5 per ton a month and up about $10 per ton a year ago.
India
India 5% broken rice is today quoted at about $370 per ton, unchanged from a week ago, up about $5 per ton from a month ago and down about $5 per ton from a year ago. The market is slow amid the holiday week.
Pakistan
Pakistan 5% broken rice is today quoted at about $340 per ton, unchanged from a week and a month ago and down about $25 per ton from a year ago.
In the first eight months of FY 2015-16 (July-February), Pakistan exported about 2.895 million tons of rice, up about 3% from 2.55 million tons during the same period the previous year. However, in terms of value, Pakistan earned about $1,209 million during that period, which is about 11% less than earned during the same period last year.
The founder and director of PRIME Institute is advising Pakistan’s government to liberalize the country’s rice market, including its research and development, in order to develop better quality rice seeds and to boost exports.
The government has decided to push for exports of basmati rice, horticulture, meat, and other products to Iran, China, Europe, and Afghanistan under the new three-year Strategic Trade Policy Framework 2015-18. The policy aims to increase the country’s rice exports to around $35 billion by the end of 2018, from the current $24 billion.
Medium-sized rice-growers, millers, processors, and exporters have formed a “rice syndicate” under the Union of Small and Medium Enterprises to deal with the problems faced by the country’s rice sector.
Central & South America
Five percent broken rice from Uruguay and Argentina is today quoted at about $430 per ton, down about $440 from a week ago, unchanged from a month ago and down about $150 per ton from a year ago.
Brazil 5% broken rice is today quoted at about $400 per ton, down about $60 per ton from a week and a month ago and down about $150 per ton from a year ago.
Over the next three months, Guyana will export about 11,300 tons of rice to Panama as the Panamanian government increased the 2016 import quota from Guyana.
U.S.
U.S. 4% broken rice is today quoted at about $445 per ton, unchanged from a week ago, down about $15 per ton from a month ago and down about $40 per ton from a year ago.
Chicago rough rice futures for May delivery dropped steadily this week, coming down from the weekly high of $10.520 per cwt (about $232 per ton) on Monday to settle at $10.220 per cwt (about $225 per ton) at close on Friday.
The U.S. cash market was slightly weaker this week as it dipped with the futures market and analysts anticipate tepid export sales.
Other Markets
The Directorate General of Food under Bangladesh’s Food Ministry has proposed to sell 30 kilograms of rice every month to ultra-poor households at below market prices. Paddy rice acreage in Bangladesh’s Boro (January-May) crop in FY 2015-16 (July-June) will likely fall to about 4.7 million hectares from 4.84 million hectares in FY 2014-15. The government of Bangladesh plans to explore new markets for its rice in African countries.
South Korea’s state-run Agro Fisheries & Food Trade Corporation is seeking to buy about 63,333 tons of non-glutinous rice in tenders for delivery between June 30 and September 30. Additionally, South Korea’s KAFTC issued a tender Tuesday to buy another 22,200 tons of rice for delivery in September.
Egypt’s General Authority for Supply Commodities is seeking to buy an unspecified amount of rice for delivery from April 20 to May 10 in an international tender. The government of Egypt is planning to import rice to ensure uninterrupted rice supplies for the state subsidized rice program as local traders have been hoarding rice in expectation of high prices
The USDA Post forecasts the Philippines MY 2015-16 (July-June) rice imports at around 2 million tons, up about 11% from in MY 2014-15 and unchanged from the USDA’s official estimates of around 2 million tons. The Philippine Statistics Authority forecasts 2016 first quarter output at around 4.07 million tons, down about 6.8% from last year and down about 2% from last month’s forecast, due to persisting drought conditions.
The USDA Post forecasts Kenya’s MY 2015-16 (October-September) rice imports at around 450,000 tons, up about 7% from last year but down from USDA’s official estimates.
The USDA Post reports that Japan’s 2016 feed rice production will increase about 28% y/y to around 491,000 tons (basis milled), due to higher incentives provided by the government.
Nigeria has reinstated its ban on rice imports through land borders, which was lifted in October 2015.
The government of Sri Lanka has temporarily reduced tax concessions on wheat flour imports in order to encourage local rice consumption and protect paddy farmers who have excess stocks this season.
Officials from the U.S. Agency for International Development “Feed the Future” agriculture support project advised Ghana rice farmers to remain open-minded about agriculture investors and welcome them to boost rice production in the country.
Bangladesh Seeks to Export Rice to African Countries
Mar 24, 2016
The government of Bangladesh is planning to explore new markets for its rice in African countries, newagebd.net quoted the Food Minister.
"Bangladesh is now the fourth in the world in terms of rice production. At present we have the scope to export one to two lakh tonnes of rice every year. We have exported rice to Sri Lanka recently we are now searching new markets in countries of Africa," he said.
The Minister was speaking at the inaugural programme of the international exposition of agro and food processing sector of Bangladesh titled ‘Food and Agro Bangladesh International Expo-2016.’ A total of 150 manufacturers and suppliers from Bangladesh, India, China, Jordan, Malaysia, Germany, Japan, USA and Taiwan are exhibiting their products in the exhibition, which will go on till March 26, 2016.
Earlier this week, the Director General of the Food Department noted that currently, the government rice stocks stand at around 1.072 million tons. The government is planning to reportedly purchase one million tons of rice Boro (January – May) rice in May 2016.
news have been shared with permission of oryza.com
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