China Faces Rice Storage Problems Due to Government Procurement Policy
Feb 19, 2016
China is currently
facing rice storage problems due to the government's procurement policy at high
prices, according to experts, reports Caixin Online.
Though the policy is
very attractive to farmers, they are now the victims as the state grain buying
agency Sinograin is not in a position to buy rice as all its warehouses are
filled up. While Sinograin's warehouses can hold up to 500,000 tons of rice
annually, it had to buy nearly 1.7 million tons of rice in 2013, 1.2 million
tons in 2014 and 1.5 million tons in 2015.
Sinograin has been
building new granaries and partnering with private companies, which can provide
storage facilities. The agency opened about 115 new warehouses across the
country, but the storage problems are still persisting. This year, several
farmers in various provinces are reportedly waiting for the agency to buy up
their rice.
Industry sources say
the agency still holds rice from 2013, which is feared to have spoilt. The
Sinograin planned to sell some stockpiled rice in the domestic market, but
there were very few buyers for the rice as the government is reluctant to lower
selling prices.
The sources say
farmers support the government's high procurement prices, which have almost
doubled import prices from Thailand and Vietnam in 2015. But other market
players noted that the government's policy of high procurement prices has
distorted grain markets in the country. One of the rice processing factory
owner expressed concern that the government's purchase policy continues would
be a threat to the processing factories.
Most of the factories
are managing by leasing some of their space to the Sinograin for storing
reserves. Experts are warning that more alternatives should be sought to
protect farmers. They are suggesting that the government should let the market
determine the prices. They noted that the private companies should be allowed
to compete with the Sinograin in running the whole procurement process.
Meanwhile, farmers are
just hoping that more warehouses would come up and the government would buy up
their rice.
Drought and Salt Water Intrusion to Affect 330,000 Hectares of
Winter-Spring Rice in Mekong Delta, Says MARD
Feb 19, 2016
Vietnam's Ministry of
Agriculture and Rural Development (MARD) is estimating that the on-going
drought and consequent salt water intrusion are likely to affect about 330,000
hectares (or about 35%) of winter-spring rice in the Mekong Delta region,
according to local sources. Winter-spring crop accounts for about 62% of the
Delta’s annual rice production.
More than 950,000
hectares of winter-spring rice has been planted in the delta's eight coastal
provinces – Long An, Tien Giang, Ben Tre, Tra Vinh, Soc Trang, Bac Lieu, Kien
Giang, and Hau Giang.
The delta is reportedly
facing the worst drought and salt water intrusion in 90 years, according to the
MARD sources. They noted that last year rainy season started late and ended
early due to the El Nino phenomenon. Lesser rains have caused a shortage of
fresh water and salt water intrusion to begin two months earlier than normal,
they said. Salt water reportedly encroached 40-90 kilometers inland up the
delta's major rivers, 10-15 kilometers further than usual.
The provincial
administrations are taking measures to mitigate the damages, including
restructuring crop cultivation schedules, building temporary dams and dredging
canals to store fresh water and installing public pumps. However, they are not
able to contain the damages to agriculture.
Speaking at a seminar
in Can Tho City on Wednesday, the Agriculture Minister called for long-term
solutions to deal with drought and salt water intrusion. But mobilizing funds
to implement sustainable solutions is a major challenge, he said.
In the same seminar,
the Deputy Prime Minister said each province should have a comprehensive plan
to combat the current situation. He noted that the government would allocate
VND2.3 trillion (around $104 million) from bonds and official development
assistance loans for the delta to combat drought and salt water intrusion. He
also ordered the Ministry of Finance to allocate around VND2 million (around
$95) per hectare to affected households.
FAO Forecasts China MY 2015-16 Rice Imports to Decline 6% y/y to 5.8
Million Tons
Feb 19, 2016
The UN's Food and
Agriculture Organization (FAO) forecasts china's MY 2015-16 (June - May) rice
imports to decline about 6% y/y due to government's efforts to limit informal
imports. The FAO forecasts china's total cereal imports in the 2015-16
marketing year to fall by 6% y/y to 29 million tons from last year's
exceptionally high level due to record 2015 harvests and large stocks.
The FAO forecasts
China's 2015 paddy rice output at around 208.25 million tons, up from around
206.507 million tons in 2014 due to favourable weather conditions.
Retail prices of Japonica rice increased slightly
in January 2016 mainly due to sustained domestic demand. However, they are
mostly similar to their year-ago levels, according to the FAO. Oryza
Weekly: Rice Prices Continue to Fall on Low Demand
Feb 20, 2016
The Oryza White Rice
Index (WRI), a weighted average of global white rice export quotes, ended the
week at about $381 per ton, down about $2 per ton from a week ago down about $3
per ton from a month ago and down about $38 per ton from a year ago.
U.S. stock markets
were dragged lower on Friday amid a slide in crude oil prices; the S&P 500
is poised for the best week of 2016. Rising rents and healthcare costs
are boosting prospects that the U.S. Federal Reserve will gradually raise
interest rates this year. Most analysts see other major central banks
holding interest rates steady, an atmosphere that could lead to a comparatively
stronger U.S. dollar against other major currencies.
Thailand
Thailand 5% broken rice
is today quoted at about $360 per ton, down about $10 per ton from a week ago,
up about $5 per ton from a month ago and down about $45 per ton from a year
ago.
The government sold
about 152,377 tons of stockpiled rice worth about 1.78 billion baht (about $50
million) in the first auction of this year. Bids of 15 private companies
were reportedly successful. In the second auction this year the
government sold about 245,262 tons of stockpiled rice worth about 1.53
billion baht (about $43 million). Bids of nine private companies were
reportedly successful in today’s auction.
In 2015, Thailand
exported about 9.795 million tons of rice, down about 11% from the same period
last year.
Thailand, which is
part of the Mekong River Commission, is being accused of diverting water from
the Mekong River to its Northeastern states that are suffering from drought
conditions without proper notice to the MRC, according to Vietnamese media
reports.
Witnesses present in
Court on February 17 to testify against the former Prime Minister told judges
that the scheme lacked appropriate accounting systems leading to loopholes in
disbursements of the state budget.
Thailand’s 2015-16
secondary rice crop (January-June) acreage declined by about half to around
800,000 hectares due to extending drought conditions.
Vietnam
Vietnam 5% broken rice
is today quoted at about $350 per ton, down about $5 per ton from a week and a
month ago and down about $10 per ton from a year ago.
Experts warn that
increasing salt water intrusion in Vietnam is likely to impact the nation’s
rice production and exports significantly.
Vietnam's Ministry of
Agriculture and Rural Development (MARD) is estimating that the on-going
drought and consequent salt water intrusion are likely to affect about 330,000
hectares (or about 35%) of winter-spring rice in the Mekong Delta region.
Winter-spring crop accounts for about 62% of the Delta’s annual rice
production.
Cambodia
Cambodia 5% broken
rice is today quoted at about $415 per ton, down about $15 per ton from a week
ago and a month ago, and down about $20 per ton from a year ago.
Myanmar
Myanmar 5% broken rice
is today quoted at about $420 per ton, unchanged from a week and a month ago
and up about $5 per ton from a year ago.
Officials of the
Myanmar Rice Federation are urging the government to prepare rice reserves in
anticipation of El Nino-induced drought conditions in the country.
India
India 5% broken rice
is today quoted at about $365 per ton, unchanged from a week ago, up about $5
per ton from a month ago, and down about $30 per ton from a year ago.
India’s total rice
exports during the first nine months of FY 2015-16 (April-December) have
declined about 10% y/y to around 7.79 million tons.
The government of
India forecasts India’s 2015-16 (July-June) milled rice output to decline about
2% y/y to around 103.61 million tons.
Wholesale basmati rice
prices in the national capital increased Wednesday due to an increase in buying
for stockpiling.
The government hopes
to secure a one million ton rice export deal with Indonesia,
which is likely to experience a decline in rice production this year due to
ongoing dry conditions.
The Food Corporation
of India and other government agencies have procured about 26.13 million tons
of paddy in the 2015-16 kharif marketing season, up about 21% from the same
time last year.
The USDA Post
forecasts India’s exports in the current marketing year at around 8 million
tons, a decrease of about 33% from last year.
The Agricultural and Processed
Food Products Export Development Authority has made it mandatory for all Indian
rice mills/processing units exporting basmati rice to the U.S.
to register with India’s plant quarantine organization to ensure quality rice
exports to the U.S.
The India-based
Geographical Indications registry has granted the GI certification to India’s
basmati rice, providing it a legal protection from other countries and
companies using the “basmati” tag. India’s central state Madhya Pradesh
sought inclusion in the GI tag application, but was opposed, and the case will
now be going to court.
A report by the
National Sample Survey using data collected between January and December 2013
found that only 5% of rice farmers in the country insured their crops, and the
majority of them were not even aware of the insurance concept.
The UN's Food and
Agriculture Organization (FAO) forecasts India's rice exports to decline in
2016 from last year's high level. It forecasts India's 2015 paddy rice output
to decline about 2% to around 155.407 million tons from around 158.210 million
tons in 2014 due to an expected decline in secondary rabi rice crop (November -
May).
Pakistan
Pakistan 5% broken
rice is today quoted at about $345 per ton, up about $10 per ton from a week
ago, up about $5 per ton from a month ago and down about $5 per ton from a year
ago.
The Rice Exporters
Association of Pakistan (REAP) has urged the government to provide zero-rated
sales tax status to them as they are facing severe liquidity crunch due to
pending tax refund claims.
The Kenya Port
Authority (KPA) has reportedly agreed to release Pakistani rice consignments
stuck at the Mombasa port in Kenya since January 20, 2016, following the
cancellation of licence of two port yards Auto Ports Container Freight Station
(CFS) and Portside CFS over allegations of dealing in contraband goods.
Central &
South America
Brazil 5% broken rice is today quoted at about $460 per ton,
unchanged from a week and a month ago and down about $90 per ton from a year
ago. The Brazilian paddy rice index maintained by the Center for Advanced
Studies on Applied Economics (CEPEA) reached around 42.1 real per 50 kilograms
as of February 15, 2016, up around 0.36% from around 41.95 real per 50
kilograms recorded on February 08, 2016. In terms of USD, the index
reached around $207 per ton on February 15, 2016, down around 3.7% from around
$215 per ton recorded a week ago. Month-on-month, the index has increased
around 1.84% from around 41.34 real per 50 kilograms recorded month ago. In
terms of USD, the index increased around 1.24% during the month.
Five percent broken
rice from Uruguay and Argentina is today quoted at about $440
per ton, unchanged from a week ago, down about $45 per ton from a month
ago and down about $160 per ton from a year ago.
The UN’s FAO estimates
Bolivia’s 2015-16 rice and other cereal imports to decline
from the high levels of the previous two years due to a record production in
2015. It estimates total cereal imports (including rice) in 2015 will
decline about 19% y/y to around 476,000 tons. Bolivia’s 2015 paddy rice
production increased by about 25% y/y, to around 472,000 tons.
U.S.
U.S. 4% broken rice is
today quoted at about $465 per ton, unchanged from a week ago, down about $5
per ton from a month ago and down about $20 per ton from a year ago.
Chicago rough rice
futures for March delivery fluctuated this week, moving higher early in the
week after the Monday holiday and then closing back below $11.000/cwt (about
$243 per ton) on Thursday. The weekly high was on Wednesday, when futures
reached $11.175/cwt (about $246 per ton).
The U.S. cash market
saw little action this week but oscillated with the futures market as farmers
remained on the sidelines.
The USDA’s Grain
Inspection, Packers, and Stockyards Administration is developing a new software
called “Rice Studio,” which can be used along with consumer-grade photo
scanners to grade rice by measuring the percentage of broken kernels in milled
rice quickly and accurately.
Other Markets
The government of the
Philippines may not import rice for the lean season (July-September)
this year due to adequate stocks.
The government of Sri
Lanka plans to export some of its 200,000 tons of surplus paddy rice
to Southern African nations.
The Maldives
plans to import rice and other products from Bangladesh.
The UN’s FAO estimates
Bhutan’s MY 2015-16 (July-June) rice imports at around 70,000
tons. It estimates total cereal imports, including rice, will decline
about 8% y/y due to good 2015 harvests.
South Korea’s state-run Agro Fisheries & Food Trade Corporation is
seeking to buy about 40,000 tons of non-glutinous rice in tenders for delivery
between May 31 and June 30.
The government of China,
which is facing storage problems, plans to clear old
rice and corn stocks from reserves. The government’s procurement program is
being criticized for the country’s storage problems.
The UN's Food and
Agriculture Organization (FAO) forecasts china's MY 2015-16 (June - May) rice
imports to decline about 6% y/y due to government's efforts to limit informal
imports. It forecasts China's 2015 paddy rice output at around 208.25 million
tons, up from around 206.507 million tons in 2014 due to favorable weather
conditions.
The Rice growers
Association of Australia is urging the government to expedite
the process of signing a biosecurity protocols agreement with China
in order to export rice there.
Ukraine’s 2016 rice output is expected to increase about 12% y/y
due to an expected increase in acreage by about 23%.
Rice imports by the European
Union have increased sharply since the beginning of the crop year
2015-16 (September-August), with the EU importing about 526,984 tons of rice
during the period September 1 – February 9, an increase of about 19% from the
same period last year.
The EU’s rice imports
from the Least Developed Countries of Asia such as Cambodia and Myanmar under
the Everything But Arms Agreement have reached about 151,326 tons in the first
five months of the crop year 2015-16 (September-January), an increase of about
40% from the same period last year.
The European
Commission will soon present a proposal authorizing the temporary inclusion of
tricyclazole fungicide, used to contain rice blast disease, among those
authorized in agriculture.
The President of the
Association of the Italian Milling Industries is urging rice
farmers to increase the hectarage of Indica rice varieties.
The UN’s FAO estimates
Tanzania’s MY 2015-16 (July-June) rice imports at around
100,000 tons, and estimates its 2015 paddy rice production to decline about 7%
y/y to around 2.4 million tons.
Rice farmers in Ghana
are concerned that there are no buyers for locally produced rice due to the
influx of imported rice.
The government of Angola
has set up the National Council of Pricing to monitor prices of rice and other
food items such as sugar, milk, beef, fish, and corn.
FAO Forecasts 2016 India Rice Exports to Decline from Last Year's Elevated
Level
Feb 19, 2016
The UN's Food and
Agriculture Organization (FAO) forecasts India's rice exports to decline in
2016 from last year's elevated level. It forecasts India's total cereal exports
in the 2015-16 marketing year (April/March) to decline about 27% y/y to around
12.5 million tons mainly due to a sharp decline in wheat exports.
The FAO forecasts
India's 2015 paddy rice output to decline about 2% to around 155.407 million
tons from around 158.210 million tons in 2014 due to an expected decline in
secondary rabi rice crop (November - May). The FAO estimates the rabi rice
planting area to decline about 7% over last year. The final outcome of this
season’s harvests will depend on the availability of water supplies for
irrigation and rainfall in the coming weeks, which are critical for crop
development, says the FAO.
Harvesting of the 2015
kharif rice crop (July - December) is complete and the FAO estimates the kharif
output at around 90.6 million tons, marginally below last year's level.
Retail prices of rice
were stable in most markets in January 2016, despite the progressive arrival of
the 2015 main crop in the market, due to the on-going government procurement
purchases.
Kenya Port Authority Agrees to Release Pakistan Rice Consignments, Says
REAP Chairman
Feb 19, 2016
The Kenya Port
Authority (KPA) has reportedly agreed to release Pakistani rice consignments
stuck at the Mombasa port in Kenya since January 20, 2016, following the
cancellation of licence of two port yards Auto Ports Container Freight Station
(CFS) and Portside CFS over allegations of dealing in contraband goods,
Pakistan media quoted the Chairman of the Rice Exporters Association of
Pakistan (REAP).
Over 1,300 containers
carrying 37,000 tons of rice worth $13 million have been held up at the Kenyan
port despite paying all local duties and taxes. The release of the containers
was reportedly linked with 100% examination.
The REAP Chairman and
the Pakistan High Commission Commercial Counsellor in Nairobi met with the
Managing Director of the KPA and other related officials and requested them to
release the containers without 100% examination as they were imported by
genuine importers. He also reportedly sought for the waiving of all demurrages
and storage/re-marshalling charges that would have accrued over the past few
days. It is understood that the KPA agreed to waive off the charges and asked
REAP to provide the details of Bill of Lading along with container numbers of
the consignments lying at the KPA.
"We have also
asked for a deadline of 15th March, 2016 for removing the balance rice
consignments from KPA without any storage or additional charge and KPA
officials are almost agreed to it," the REAP Chairman was quoted.
Kenya is a traditional
importer of Pakistani rice and the bilateral trade between Kenya and Pakistan
is more than $600 million, according to the Pakistan High Commission Commercial
Counsellor.
Oryza U.S. Rough Rice Recap - Prices Firm with Strong Export Sales
Feb 20, 2016
The U.S. cash market
was slightly firmer today after the USDA reported respectable export sales
figures despite most buyers being hand-to-mouth.
The USDA reported
that cumulative net export sales for the week that ended on February
11 totaled 90,600 tons, an increase of 71% from the previous week and
considerably higher than the prior 4-week average.
Increases were
reported for the following destinations: 41,400 tons to Mexico, 22,100
tons to Colombia, 5,400 tons to Saudi Arabia, 4,900 tons to Haiti, and
4,700 tons to Jordan.
U.S. rice exporters
shipped 38,000 tons, a decrease of 23% from than last week and 26% lower than
the prior 4-week average.
Increases were reported for the
following destinations: 7,300 tons to Taiwan, 7,000 tons to Haiti, 6,100 tons
to El Salvador, 3,900 tons to Mexico, and 2,900 tons to Canada
Pakistan Exporters Seek Zero Sales Tax Status
Feb 19, 2016
The Rice Exporters
Association of Pakistan (REAP) has urged the government to provide zero sales tax
status to them as they are facing severe liquidity crunch due to pending tax
refund claims, according to local sources.
The REAP Chairman was
responding to the Prime Minister's recent decision to restore zero tax status
to five export sectors, including textile, leather, carpet, sports goods and
surgical goods. He said the Prime Minister should include rice sector also in
the list.
“Rice exporters
contribute a major share to the country’s export earnings and are providing
direct and indirect employment to millions, ” he said. “Rice is the second
largest export commodity, but despite earning $2 billion annually, we are not
being given benefits while exporters of other commodities are facilitated,” he
added.
The REAP Chairman also
noted that rice exporters are facing with several problems and consequently
their export capacity is being severely impacted. He noted that exports are
already below target both in terms of value and volume. Absence of zero-rated
facility and imposition of sales tax would further be burdensome to exporters.
He said that the
association has also written letters to the Finance and Commerce Ministers
asking them to provide zero sales tax facility to rice exporters and exempt
them from sales tax and income tax on utility services.
Wholesale Basmati Rice Prices in India Continue to Rise on Increased Buying
for Stockpiling
Feb 19, 2016
Wholesale basmati rice
prices in the national capital have increased today for third consecutive day
owing to an increase in buying for stockpiling against restricted supplies from
producers, according to the Press Trust of India (PTI).
On February 19, 2016,
prices of Pusa 1121 increased to around Rs.4,050 - 4,950 per quintal (around
$592 - $724 per ton) from previous levels of around 3,900 - 4,800 per quintal
(around $572 - $703 per ton).
Prices of common
basmati increased to around Rs.5,300 - 5,400 per quintal (around $775 - $790
per ton) from previous levels of around Rs.5,100 - 5,200 per quintal (around
$747 - $762 per ton).
"Steady inflow of
buying by stockists against restricted supplies from producing regions kept
rice basmati prices higher," traders were quoted as saying.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Recover to
Finish the Week $0.26/cwt Higher as Market Participants Eye Potential Demand
Feb 20, 2016
Chicago rough rice
futures for Mar delivery settled 16 cents per cwt (about $4 per ton) higher at
$11.020 per cwt (about $243 per ton). The other grains finished the day lower;
Soybeans closed about 0.2% lower at $8.8075 per bushel; wheat finished about
0.4% lower at $4.6675 per bushel, and corn finished the day about 0.1% lower at
$3.6925 per bushel.
U.S. stocks traded in
a range Friday, continuing to consolidate after solid gains earlier in the week
and mostly shaking off pressure from declines in oil prices. The major averages
held mixed in afternoon trade, but well off session lows with the Nasdaq
composite trading mostly higher. WTI futures for March delivery, which expires
Monday, pared losses to trade about 2% lower blower $30 a barrel after the U.S.
oil rig count showed a decline of 26 in the last week, Baker Hughes said. As of
the close Thursday, the major U.S. averages were up more than 2.5% for the week
so far, on pace for their best week since November. In economic news, the
consumer price index showed a 0.3% rise ex-food and energy in January. The headline
figure was unchanged from the previous month. Year-over-year, the core CPI
advanced 2.2%, the largest rise since June 2012, Reuters said. European stocks
closed lower amid the negotiations and declines in oil. Asian stocks were
mostly lower Friday, but the Nikkei 225 ended the week with gains of nearly
6.8%, while the Shanghai composite was up about 3.5% for the week. In afternoon
trade, the Dow Jones Industrial Average traded down 33 points, or 0.2%, to
16,379. The S&P 500 declined less than a point, or 0.04%, to 1,917, with
energy leading five sectors lower and information technology the top gainer.
The Nasdaq composite traded up 18 points, or 0.4%, at 4,505. Gold is seen
trading about 0.4% higher, crude oil is seen trading about 3.3% lower, and the
U.S. dollar is seen trading about 0.3% lower at about 1:30pm Chicago
time.
Thursday, there were
1,018 contracts traded, up from 952 contracts traded on Wednesday. Open
interest – the number of contracts outstanding – on Thursday increased by 168
contracts to 13,133.
Thailand, Vietnam, Pakistan Rice Sellers Lower Their Quotes Today; India
Rice Quotes Unchanged
Feb 19, 2016
Thailand rice sellers
lowered their quotes for 5% broken rice and parboiled rice by about $5 per ton
each to around $355-$365 per ton and $365-$375 per ton respectively today.
Vietnam rice sellers lowered their quotes for 5% broken rice and Jasmine rice
by about $5 per ton and $20 per ton to around $345-$355 per ton and $410-$420
per ton, respectively. Pakistan rice sellers lowered their quotes for 25%
broken rice and 100% broken rice by about $5 per ton each to around $305-$315
per ton and $285-$295 per ton respectively. India rice sellers kept their
quotes unchanged today.
5% Broken Rice
Thailand 5% rice is
indicated at around $355 - $365 per ton, about $10 per ton premium on Vietnam
5% rice shown at around $345 - $355 per ton. India 5% rice is indicated at
around $360 - $370 per ton, about $20 per ton premium on Pakistan 5% rice shown
at around $340 - $350 per ton.
25% Broken
Rice
Thailand 25% rice is
indicated at around $345 - $355 per ton, about $10 per ton premium on Vietnam
25% rice shown at around $335- $345 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 $365 - $375per 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 $325 - $335 per ton, about $5 per ton premium
on 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.
Global Rice Quotes
February 22nd, 2016
|
Long grain white rice - high quality
|
||
|
Thailand
100% B grade
|
365-375
|
↔
|
|
Vietnam
5% broken
|
350-360
|
↑
|
|
India
5% broken
|
360-370
|
↔
|
|
Pakistan
5% broken
|
340-350
|
↔
|
|
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
|
345-355
|
↔
|
|
Vietnam
25% broken
|
340-350
|
↑
|
|
Pakistan
25% broken
|
305-315
|
↔
|
|
Cambodia
25% broken
|
405-415
|
↔
|
|
India
25% broken
|
325-335
|
↔
|
|
U.S.
15% broken (sacked)
|
440-450
|
↔
|
|
Long grain parboiled rice
|
||
|
Thailand
parboiled 100% stxd
|
365-375
|
↔
|
|
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%
|
680-690
|
↔
|
|
Vietnam
Jasmine
|
410-420
|
↔
|
|
India
basmati 2% broken
|
NQ
|
↔
|
|
Pakistan
basmati 2% broken
|
NQ
|
↔
|
|
Cambodia
Phka Mails
|
750-760
|
↔
|
|
Brokens
|
||
|
Thailand
A1 Super
|
325-335
|
↔
|
|
Vietnam
100% broken
|
325-335
|
↑
|
|
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
|
↔
|
|
Medium grain milled
|
All prices USD per
ton, FOB vessel, oryza.com
News have been shared with written permission of ORYZA.com
with thanks.
Africa’s richest man and President, Dangote Group, Alhaji Aliko
Dangote has lamented that Nigeria spends nearly $1.8billion per year importing
(approximately 3.2 million) metric tons of rice to feed its population.He said
this huge foreign exchange (forex) would have been used on more impactful
social development interventions if they were not needed for food imports.Speaking
during the launch of the Dangote Rice Outgrowers Scheme in Jigawa State at the
weekend, he said the nation’s agricultural commodities and food
imports bills averaged over N1trillion in 2013 and 2014, with foods such as
sugar, wheat, rice, fish accounting for 93 per cent of the total cost of
imports
