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 ↔
Brokens
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, oryza.com
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.
