Egypt Cancels Tender to Purchase Unspecified Amount of Rice
Mar 28, 2016
Egypt's state grain
buyer General Authority for Supply Commodities (GASC) has cancelled a tender to
purchase an unspecified amount of rice for delivery from April 20 to May 10,
2016, according to Reuters.
The Vice Chairman of
the GASC did not give a reason for the cancellation. However, traders
reportedly told that the agency received only two valid offers (both for Indian
rice) for the tender, and it rejected another offer for lack of necessary
paperwork.
The official noted
that another tender seeking an unspecified amount of rice will be held with
deadline for offers on April 2, 2016.
The tender was aimed
at ensuring uninterrupted rice supplies for the state subsidized rice program
as local traders have been hoarding rice in expectation of high prices.
This is the second
tender since the Egyptian government announced the removal of export ban with
certain conditions. The GASC cancelled the first tender in January 27 to give
more time to suppliers to issue necessary paperwork.
USDA Post Forecasts Tanzania MY
2015-16 Rice Imports to Increase Sharply on Higher Consumption
Mar 28, 2016
The USDA Post
forecasts Tanzania's MY 2015-16 (May - April) rice imports to increase about
60% to around 160,000 tons from an estimated 100,000 tons in MY 2014-15, and up
from USDA's official estimates of around 150,000 tons as consumption is likely
to surpass production.
Currently Tanzania
imports rice from China, India, Indonesia, Pakistan, and Vietnam.
The Post forecasts
Tanzania's MY 2015-16 rice consumption at around 1.8 million tons from an
estimated 1.7 million tons last year, and milled rice production at around 1.75
million tons from an estimated 1.7 million tons. It expects consumption to
increase due to higher urban population, higher incomes, and increasing
preference for rice.
It forecasts
Tanzania's MY 2015-16 rice exports to remain stable at last year's level of
around 30,000 tons.
The Post forecasts
consumption, production and imports to increase in MY 2016-17 as well.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Begin the
Week on Negative Tone; Wheat Rallies amid U.S. Weather Concerns
Mar 29, 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
higher Monday as investors eyed oil prices and awaited data and comments from
key Fed policymakers due later in the week. The major averages extended earlier
gains in afternoon trade with consumer discretionary and materials leading.
Earlier, stocks struggled to hold opening gains. Yellen is due to speak midday
Tuesday and investors await indications on when the Fed could next raise rates.
Thursday marks the end of the quarter, while the jobs report and ISM
manufacturing data are expected Friday. In economic news, consumer spending
edged up 0.1% in February, after January's figure was revised lower to show a
0.1% gain versus the previously reported 0.5% rise. Personal income rose 0.2%.
Excluding food and energy, prices gained 0.1% after advancing 0.3% in January.
In the 12 months through February, the so-called core PCE price index increased
1.7% after a similar increase in January, Reuters said.
While U.S. markets
were closed for Good Friday, the Commerce Department's third GDP estimate for
the fourth quarter showed an annual growth rate of 1.4% instead of the
previously reported 1.0% pace. European markets are closed for Easter Monday.
Hong Kong markets also remain closed until Tuesday. Asian markets were mixed
Monday, with the Nikkei 225 higher and the Shanghai composite slightly lower.
In early afternoon trade, the Dow Jones industrial average gained 41 points, or
0.24%, to 17,557. The S&P 500 gained 4 points, or 0.21%, to 2,040, with
materials leading six sectors higher and utilities the greatest decliner. The
Nasdaq composite traded up 3 points, or 0.07%, to 4,777. Gold is seen trading
about 0.2% lower, crude oil is seen trading about 0.5% lower, and the U.S.
dollar is seen trading about 0.4% lower at about 1:30pm Chicago time.
Thursday, there were
848 contracts traded, up from 425 contracts traded on Wednesday. Open interest
– the number of contracts outstanding – on Thursday decreased by 137 contracts
to 12,511.
Vietnam Rice Quotes Mixed Today; Other Asia Rice Quotes Unchanged
Mar 28, 2016
Vietnam rice sellers
lowered their quotes for 15% rice variety by $5 per ton to around $370 - $380,
and increased their quotes for jasmine and glutinous rice varieties by $15 per
ton and $20 per ton to around $475 - $485 per ton and around $610 - $620 per respectively
today. Other Asian rice sellers kept their quotes unchanged from
Thursday.
5% Broken Rice
Thailand 5% rice is
indicated at around $365 - $375 per ton, about $15 per ton discount to Vietnam 5%
rice shown at around $380 - $390 per ton. India 5% rice is indicated at around
$365 - $375 per ton, about $30 per ton premium on Pakistan 5% rice shown at
around $335 - $345 per ton.
25% Broken Rice
Thailand 25% rice is
indicated at around $355 - $365 per ton, about $10 per ton discount to Vietnam
25% rice shown at around $365- $375 per ton. India 25% rice is indicated at
around $335- $345 per ton, about $30 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 $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 $330 - $340 per ton, about $20 per ton discount
to Vietnam 100% broken rice shown at around $350 - $360 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.
Global Rice Quotes
March 29th, 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
Vietnam Exports 1.11 Million Tons of Rice in Jan 1 - March 15, 2016
Mar 28, 2016
Vietnam exported around
1.11 million tons of rice in January 1 - March 15, 2016, compared to around
901,692 tons exported during the first three months last year, according to
data from the Vietnam Food Association (VFA). The average rice export price so
far in this year stands at $397.33 per ton (FOB), compared to around $434
per ton recorded during the first three months of 2015.
In the first half of
March 2016, Vietnam exported 253,795 tons of rice, compared to around 480,490
tons of rice exported in March 2015, and compared to around 439,449 tons of
rice exported in full month of February 2016. The average export price so far
in March 2016 stands at around $379 per ton, compared to around $396.5 per ton
a year ago and around $405 per ton a month ago.
Vietnam Rice Exports Losing Competitiveness Due to High Prices, Say Experts
Mar 28, 2016
Vietnam rice exports
are becoming less competitive due to higher prices compared to exports from
Thailand and India, local sources quoted the Chairman of the Vietnam Food
Association (VFA).
Export prices of
Vietnam 5% rice increased about $20 per ton since the beginning of March 2016
and are currently quoted at around $380 - $390 per ton. On the other hand, Thai
5%, India 5% and Pakistan 5% rice are quoted at around $365 - $375 per ton,
$365 - $375 per ton and $335 - $345 per ton respectively.
Some other experts
said that Vietnamese exporters may find it difficult to sign new contracts with
high volumes due to rising export prices.
Exporters have been
forced to increase their quotes by about $5 to $10 per ton due to higher
domestic prices. Impact of El Nino-induced drought conditions, increased
salinity and higher demand for rice in border regions have pushed up the
domestic prices for the last few weeks, according to local sources.
Month-on-month,
average wholesale prices of 25% rice in An Giang and Dong Thap in the Mekong
River Delta increased about 3% each to around VND 7.425 million (around $333)
per ton and VND and 7.375 million (around $332) per ton during March 2016,
according to the data from the UN's Food and Agricultural Organization (FAO).
Actually, domestic prices in Vietnam have been declining since November 2015
due to low export demand.
Vietnam exported
around 1.11 million tons of rice in January 1 - March 15, 2016, compared to
around 901,692 tons exported during the first three months last year, according
to data from the Vietnam Food Association (VFA). However, the average FOB price
declined to around $397.33 per ton (FOB), compared to around $434 per ton
recorded during the first three months of 2015.
Myanmar to Conduct Survey on Local Rice Consumption
Mar 28, 2016
The Myanmar Rice
Federation (MRF), the Myanmar Rice and Paddy Traders Association and University
of Agriculture are planning to jointly conduct a survey on the local rice
consumption this year, according to Reuters citing Xinhua News.
The survey targets
over 4,000 households living in 14 regions and states of the country. It
includes rice consumption amount, daily earning of each household and kind of
rice they consume.
Myanmar does not have the
actual data on local rice consumption since last 20 years despite rice being an
important export item for the country and the government prioritizing rice
exports in its National Export Strategy.
Myanmar exported
around 830,000 tons of rice in the first ten months of FY 2015-16 (April 2015 -
January 2016), down about 15% from around 980,000 exported during the same
period last year, according to data from the MRF.
USDA estimates
Myanmar’s MY 2015-16 (January - December 2016) rice consumption demand at around
10.65 million tons. It estimates Myanmar to produce around 12.2 million tons
and export around 1.8 million tons of milled rice during the year.
Oryza U.S. Rough Rice Recap - Quiet Market as Participants Anticipate New
Iraq Tender
Mar 29, 2016
The U.S. cash market
was quiet and slightly softer today as market participants slowly returned from
the long Easter holiday weekend.
Analysts report that
there was very little buy or sell interest today as both buyers and sellers
anticipate the Iraqi Grain Board to issue another white rice tender shortly.
Buyers are obviously
concerned that if the IGB overlooks U.S. origin yet again, prices will continue
to decline; however, farmers are hoping and counting on Washington to put
pressure on the IGB so that they throw the U.S. producers a bone and buy at
least one cargo from the U.S.
Exclusive News have been shared with written permission of
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