Thursday, February 04, 2016

3rd Feburary 2016 Daily Global Rice E-Newsletter by Riceplus Magazine

Today Rice News Headlines...

·         The Pakistan-Kuwait relations

·         Rice export trade facing crisis, needs government attention: Reap

·         PH rice self-sufficiency a failure – Binay camp

·         Thailand inks $120 mln rice MOUs with Iran

·         Rice Prices

·         Lab cooks up drought-resistant rice


·         Rice Research Institute Recruitment 2016

·         China Ships First Rice to Korea 
·         Northeast Louisianans Gearing Up for 2016 Rice Crop 

·         WTF Happened to Golden Rice?

·         Group Petitions EFCC Over N117 Billion Rice Importation Waivers Fraud

·         Nigeria: Customs Intercepts Two Trucks, Six Cars Loaded With Smuggled Rice

·         Fortified rice raises risk of hookworm infections
·         APEDA Rice Commodity News
·         Group Petitions EFCC Over N117 Billion Rice Importation Waivers Fraud
·         Arkansas Farm Bureau Daily Commodity Report

News Detail...

The Pakistan-Kuwait relations

The Pakistan-Kuwait relations are brotherly, based on shared history, traditions and common culture. Both countries have always enjoyed their bilateral, friendly, trade and cultural ties with enormous respect of their commonality and cultural traditions. The bilateral relations exist both at the official-government level and at the peoples’ level. Time has proved that both countries have stood for each other in their most difficult and testing times. Pakistan was among the first countries that sent troops to Kuwait during the Iraqi invasion in 1990. Nine Pakistani soldiers were martyred during mine clearing operations.Kuwait also responded well to its friendly country and has been the first among countries that have ever extended generous help to Pakistan in difficult times

4th Feburary 2016 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

Global Rice Quotes

February 4th, 2016
Long grain white rice - high quality
Thailand 100% B grade          380-390           ↔
Vietnam 5% broken    350-360           ↔
India 5% broken         360-370           ↑
Pakistan 5% broken    345-355           ↔
Myanmar 5% broken   415-425           ↔
Cambodia 5% broken             425-435           ↔
U.S. 4% broken           460-470           ↔
Uruguay 5% broken    440-450           ↔
Argentina 5% broken 430-440           ↔
Long grain white rice - low quality
Thailand 25% broken 350-360           ↔
Vietnam 25% broken 340-350           ↔
Pakistan 25% broken 310-320           ↔
Cambodia 25% broken           405-415           ↔
India 25% broken       325-335           ↔
U.S. 15% broken         440-450           ↔
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    520-530           ↔
Uruguay parboiled 5% broken            NQ      ↔
Long grain fragrant rice
Thailand Hommali 92%          690-700           ↔
Vietnam Jasmine         425-435           ↔
India basmati 2% broken        NQ      ↔
Pakistan basmati 2% broken   NQ      ↔
Cambodia Phka Mails             750-760           ↔
Thailand A1 Super      320-330           ↔
Vietnam 100% broken            320-330           ↔
Pakistan 100% broken stxd    285-295           ↔
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,

Announces 2016 Minimum Purchase Prices for Rice

Feb 03, 2016

The government of China has announced 2016 minimum purchase prices for rice, Reuters quoted the National Development and Reform Commission (NDRC).
The Chinese government has reportedly lowered the price for early season indica rice to around 2,660 yuan (around $404) per ton from around 2,700 yuan (around $410) per ton in 2015. It retained the purchase prices of mid to late season rice and japonica rice at 2015 levels of around 2,760 yuan (around $420) per ton and 3,100 yuan (around $471) per ton respectively.
The Chinese government has been purchasing rice from farmers under its procurement policy since 2004. The government will intervene and buys rice from farmers at the state-set purchase price if the market price falls below the government price.

USDA Post Forecasts Russia MY 2015-16 Rice Exports to Increase 12% y/y to 190,000 Tons

Feb 03, 2016
The USDA Post forecasts Russia's MY 2015-16 (January - December 2016) rice exports at around 190,000 tons, up about 12% from around 170,000 tons in MY 2014-15, and unchanged from USDA's official forecasts.
Quoting industry analysts, the Post reports that Russian grain exports, including rice, increased in December 2015 due to several factors: the resumed devaluation of the rubble, good corn crop prospects, favorable weather in the Russian deep water ports in the Black Sea, and uncertain future trade relations with Turkey.
The Post forecasts Russia's MY 2015-16 rice imports at around 230,000 tons, up about 35% from around 170,000 tons last year, and unchanged from USDA's official forecasts.
The USDA Post forecasts Russia's MY 2015-16 milled rice production at around 720,000 tons, up about 5.5% from around 682,000 tons last year, and unchanged from USDA's official forecasts. The increase can be attributed to a slight increase in paddy rice acreage.

USDA Post Forecasts Turkey MY 2015-16 Rice Imports to Increase 4% y/y to 330,000 Tons

Feb 03, 2016
The USDA Post forecasts Turkey’s MY 2015-16 (September 2015 - August 2016) at around 330,000 tons (basis, milled), up about 4% from around 317,000 tons in MY 2014-15 and unchanged from USDA's official estimates.
According to data from Turkish Grain Board (TMO), Turkey imported 44,665 tons of paddy rice in the first three months of MY 2015-16 (September - November 2015), of which around 35,980 tons are imported from the U.S.
Recently, the TMO announced the domestic procurement price of paddy at 1580 TL (around $535) per ton. The agency could procure only 1,700 tons as farmers are preferring to sell to private sector. Harvesting of the 2015-16 rice crop was completed in November 2015. As of January 2016, domestic paddy rice price is about 1551 TL (around $526) per ton for Osmancik variety and 2160 TL (around $732) per ton for Baldo variety at Edirne Commodity Exchange, according to the Post.
The Post estimates MY 2015-16 paddy rice output at around 746,000 tons, up from last year's 687,000 tons and unchanged from USDA's official estimates.

USDA Post Forecasts South Korea MY 2015-16 Rice Imports to Slightly Increase y/y to 470,000 Tons

Feb 03, 2016
The USDA post forecasts South Korea's MY 2015-16 (November 2015-October 2016) at around 470,000 tons, slightly up from last year's 465,000 tons and unchanged from USDA's official estimates. The Post, however, estimates that some portion of the 2016 TRQ (tariff rate quota) will roll over into next year.
In MY 2014-15, Korea’s rice imports were 464,892 tons, consisting of 217,855 tons imported under the 2014 minimum market access (MMA) quota and 247,037 tons imported under 2015 TRQ, respectively, according to the Post.
The Post reports that the government would release the 2016 TRQ schedule shortly. It expects the U.S. rice quota to remain at 150,000 tons (milled basis). In calendar year (CY) 2015, U.S. exports to Korea amounted to 142,806 tons, of which, 34,114 tons are imported under 2014 MMA quota and 108,682 tons are imported under 2015 TRQ, respectively.
Since the per capita rice consumption has been declining significantly over the past few years, the government has decided to seek a balance between rice supply and demand by 2018 through a gradual reduction in area and promotional activities to expand consumption.
The Post reports that the Ministry of Agriculture, Food and Rural Affairs (MAFRA) recently released its plan to reduce arable land for rice cultivation to 711,000 hectares by 2018, significantly smaller than the 749,000 hectares of paddies that would be reached without any action taken. In line with the rice reduction scheme, the government is also planning to introduce the Production Adjustment Program, under which rice farmers will be encouraged to cultivate other crops in their paddy lands, up to 30,000 hectares across the nation in CY 2017.
The Post estimates Korea's MY 2015-16 milled rice production at around 4.327 million tons, up from 4.24 million tons last year and unchanged from USDA's official estimates.

Indian Exporters Seek Government Support to Boost Basmati Rice Exports

Feb 03, 2016

The Agricultural and Processed Food Products Export Development Authority (APEDA) has urged the Commerce Ministry to include packaged basmati rice in the Merchandise exports from India Scheme (MEIS) list to help boost the country's basmati rice exports, according to local sources.
The MEIS was introduced to offset infrastructural inefficiencies and associated costs involved in export of goods/products, which are produced/manufactured in India, especially those having high export intensity and employment potential; and thereby enhance India's export competitiveness. Under this scheme, notified goods exported to notified markets would be rewarded on FOB value realized by the exporter.
The APEDA made the request at a meeting conducted by the Commerce Ministry for Export Promotion Councils (EPCs) on February 2, 2016. The Commerce Ministry sought specific suggestions/inputs from exporters to address the falling exports. India's overall exports have been declining since December 2014, according to the APEDA.
The EPCs raised several issues related to exports in the meeting. In general, they sought enhanced duty drawbacks, inclusion of more products in the MEIS scheme and abolition of service tax on exports.
The Commerce Minister reportedly advised EPCs to take pro-active measures for promoting exports and requested them to seek specific intervention from the Ministry when needed. She assured that specific issues relating to exports would be sorted out through discussions with the concerned stakeholders.

Thailand Signs Four Agreements to Export 300,000 Tons of Rice Worth $121 Million to Iran in 2016

Feb 03, 2016

Thailand has signed four agreements to sell about 300,000 tons of rice worth 4.3 million baht (around $121 million), Reuters quoted the Commerce Minister.
Three Thai firms and four Iranian firms reportedly signed four memoranda of understanding (MoUs) to export white and jasmine rice to Iran, according to the Commerce Minister.
The agreements are result of negotiations between a Thai delegation led by the Deputy Prime Minister and Iranian authorities. The Thai delegation is in Iran this week to seek trade opportunities after sanctions against Iran were lifted.
Rice is reportedly quoted at $350 per ton ($425 cif). The Thai Commerce Ministry's Permanent Secretary noted that  Iran's Health Ministry officials will visit Thailand to inspect the quality of the rice. After the inspection, Iran will issue a document allowing the import of Thai rice, she said.
Iran suspended rice imports from Thailand following a default by a private rice exporter in 2011. The Thai government has been persuading Iran to resume rice imports from Thailand. Iran imported around 278,283 tons of rice in 2011. Since then Thai rice exports to Iran declined significantly. Thailand exported around 2,473 tons in 2012, around 71,878 tons in 2013, around 46,860 tons in 2014 and around 3,926 tons in 2015 to Iran, according to data from the TREA.

Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Close Lower after Session of Back-and-Forth Trade; Oil Jumps on Weaker U.S. Dollar

Feb 04, 2016

Chicago rough rice futures for Mar delivery settled 4 cents per cwt (about $1 per ton) lower at $11.135 per cwt (about $245 per ton). The other grains finished the day with mixed results; Soybeans closed about 1.1% lower at $8.87675 per bushel; wheat finished about 1% higher at $4.8000 per bushel, and corn finished the day about 0.4% lower at $3.7100 per bushel.
U.S. stocks fell on Wednesday, but held off their lows, as oil bounced back. West Texas Intermediate traded about 6% higher in choppy trade after the Energy Information Administration said U.S. inventories rose by 7.8 million barrels last week. Crude prices briefly erased gains following the data release, but surged on a weaker dollar. The ISM non-manufacturing index January reading came in at 53.5, below the expected 55.1. It is also the lowest reading since December 2013. Oil initially rose on news that Russia may be open to a deal with OPEC in order to cut production.
In Europe, stocks closed lower, with the pan-European STOXX 600 index falling 1.6%. Asian equities fell broadly overnight, with the Nikkei 225 index dropping 3.1%.In afternoon trade, the Dow Jones industrial average fell 48 points, or 0.27%, at 16,108. The S&P 500 dropped 17 points, or 0.9%, at 1,885, with financials leading five sectors lower and materials the greatest advancer. The Nasdaq composite fell 76 points, or 1.7%, to 4,440. Gold is seen trading about 1.5% higher, crude oil is seen trading about 6.4% higher, and the U.S. dollar is seen trading about 1.8% lower at about  1:00pm Chicago time.
Tuesday, there were 831 contracts traded, down from 1,363 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday decreased by 228 contracts to 12,859. 

Oryza U.S. Rough Rice Recap - Prices Dip Slightly after Colombia and Iran Snub U.S. Origin

Feb 04, 2016

The U.S. cash market was slightly weaker today with offers from resellers decreasing with the futures market after it was confirmed that Colombia bought a large quantity from Mercosur origins as part of the emergency purchases.
Adding to today’s bearishness was the news that Thailand plans to sell 300,000 tons of white rice and jasmine rice to Iran following the lifting of sanctions, dashing the hopes of some market participants who were optimistic that the U.S. would receive at least a piece that demand.

Thai Prime Minister Compliments Farmers for Avoiding Off-Season Rice

Feb 03, 2016

The Prime Minister of Thailand has praised rice farmers for heeding to the government advice and avoiding planting for off-season rice, according to Bangkok Post. He complimented them for understanding the situation and being responsive.
The country's off-season paddy acreage has been halved to around four million rai (around 640,000 hectares) in this year. Many farmers have switched to drought-resistant crops such as beans or raising livestock. Some of them have reportedly joined government-sponsored employment schemes such as working on irrigation canal dredging projects.
Agriculture officials noted that some farmers have planted off-season rice well aware of the risks and they would not get any compensation from the government if the crop fails due to lack of water.

Thailand, Pakistan Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged

Feb 03, 2016

Thailand rice sellers lowered their quotes for 5% broken rice and 25% broken rice by about $5 per ton each to around $365-$375 per ton and $350-$360 per ton respectively today . Pakistan rice sellers lowered their quotes for 25% broken rice and 100% broken rice by about $5 per ton each to around $310-$320 per ton and $285-$295 per ton respectively. Other 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 $10 per ton premium on Pakistan 5% rice shown at around $345 - $355 per ton.
25% Broken Rice
Thailand 25% rice is indicated at around $350 - $360 per ton, about $10 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 $15 per ton premium on Pakistan 25% rice shown at around $310 - $320 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 $25 per ton discount to Pakistan broken sortexed rice shown at around $285 - $295 per ton.