Asia Rice Quotes Unchanged Today
Feb 26, 2016
Asia rice sellers kept
their quotes unchanged
today.
5% Broken Rice
Thailand 5% rice is indicated
at around $355 - $365 per ton, about $5 per ton premium on Vietnam 5% rice
shown at around $350 - $360 per ton. India 5% rice is indicated at around $360
- $370 per ton, about $25 per ton premium on Pakistan 5% rice shown at around
$335 - $345 per ton.
25% Broken
Rice
Thailand 25% rice is
indicated at around $345 - $355per ton, about $5per ton premium on Vietnam 25%
rice shown at around $340- $350 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, on par with Vietnam 100%
broken rice shown at around $325 - $335 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.
Iraq Passes on Tender to Buy 90,000 Tons of Rice
Feb 26, 2016
Iraq's state grain buyer
has passed on a recent tender to buy 90,000 tons of U.S. rice, according to
Reuters. The prices for U.S. rice were thought too high and the tender
was muddled by lower, unsoliciated offers of South American rice. The
South American rice was offered at $90 per ton under the U.S. offers, accordng
to Reuters.
Eleven New Rice Varieties Included in Italy’s National Registry
Feb 26, 2016
Eleven new varieties
of rice have been included in Italy’s National Register of Varieties of
Agricultural Species, according to a
government
decree of 28 December 2015, published in Official Gazette no. 22 of 28
January 2016.
The list includes two
Long B varieties and 9 Long A ones. The long B varieties are called Ariosto,
developed by the Italian company SIS, and CL111 developed by the Louisiana
State University.
The Long A varieties
are: Allegro and Casanova, by the Italian company Lugano Leonardo srl; Cammeo
by agronomist Eugenio Gentinetta; Carnaval and Ribaldo, by the company Bertone
Sementi spa; CL31 by Ente Nazionale Risi, the National agency for rice; Reperso
by Giovanni Villa; Dante by SIS; and RG201, by the milling company Riso Gallo
spa.
Oryza Weekly: Global Rice Prices Mixed as Sentiment Remains Cautious,
Despite Projections for Lower Supplies
Feb 27, 2016
The Oryza White Rice
Index (WRI), a weighted average of global white rice export quotes, ended the
week at about $381 per ton, unchanged from a week ago, down about $3 per ton
from a month ago, and down about $37 per ton from a year ago.
The International
Grain Council (IGC) said in its monthly Grain Market Report that global rice
production is expected to reach about 474 million tons in 2015-16, up
marginally from last month’s report projection but down about 1% from last
year, due to a reduction in rice acreage in Asia. The IGC is also expecting
constricting carryover stocks on inventory depletion in India and Thailand.
Central bankers from
the U.S. and Europe said weaker global growth will affect the economic outlook
and may have implications for the pace of monetary policy divergence, Bloomberg
Reported. Crude oil advanced to log the biggest weekly gain since August amid
producer talks to this week to potentially reduce supplies.
Thailand
Thailand 5% broken
rice is today quoted at about $360 per ton, unchanged from a week ago, down
about $5 per ton from a month ago and down about $45 per ton from a year ago.
Thiland's government
has set its 2016 rice export target at around 9.5 million tons, down about 5%
from around 10 million tons exported in 2015, due to a likely impact of
extending drought conditions on this year’s production.
The Commerce Ministry
has confirmed that there was no loss of rice stocks under the previous
government’s rice pledging scheme as testified by an auditor to the court.
Meanwhile, the government has announced a new long-term rice strategy,
scheduled to begin next year, in hopes of increasing domestic rice consumption
and limiting domestic rice production.
Vietnam
Vietnam 5% broken rice
is today quoted at about $355 per ton, up about $5 per ton from a week and a
month ago and down about $10 per ton from a year ago.
During the period
January 1 – February 18, Vietnam exported about 589,646 tons of rice, an
increase of about 40% from in the first two months of 2015. The average rice
export price so far this year is around $400 per ton (FOB), about 11% less than
the same time last year.
During the period
February 1-20, Vietnam rice exporters shipped about 284,450 tons of rice from
Saigon port.
The Ministry of
Industry and Trade has urged the trade counsellors and domestic rice exporting
companies to reduce their dependence on China and expand into other markets
including Europe, Japan, South Korea, and the U.S.
Experts expect that
the geographical indications recognition to Indian basmati rice will help to
stabilize prices, which have been falling since the beginning of this financial
year (April-March) due to excess supplies, and to boost exports.
Cambodia &
Myanmar
Cambodia 5% broken
rice is today quoted at about $415 per ton, unchanged from a week ago, down
about $15 per ton from a month ago, and down about $20 per ton from a year ago.
Myanmar 5% broken rice
is today quoted at about $425 per ton, up about $5 per ton from a week and a
month ago and up about $10 per ton from a year ago. Based on the current
pace of exports, Myanmar’s Ministry of Commerce is estimating
the country’s rice exports to fall sharply in FY 2015-16 (April-March).
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.
Wholesale basmati rice
prices in the capital increased Tuesday due to an increase in buying for
stockpiling against restricted supplies from producers. On Thursday,
wholesale basmati rice prices in the national capital were mixed.
Pakistan
Pakistan 5% broken
rice is today quoted at about $340 per ton, down about $5 per ton from a week
and a month ago, unchanged from a year ago.
In the first seven
months of FY 2015-16 (July-January), Pakistan exported about 2.445 million tons
of rice, an increase of about 11% from the same period in FY 2014-15.
The State Bank of
Pakistan may soon allow local banks to resume ties with their Iranian
counterparts following the government’s recent lifting of sanction on the
neighboring nation.
Central &
South America
The Brazilian
paddy rice index maintained by the Center for Advanced Studies on Applied
Economics (CEPEA) reached around 41.91 real per 50 kilograms as of February 19,
2016, unchanged from last week. In terms of USD, the index reached around
$212.5 per ton on February 19, 2016, up around 1% from around $210 per ton
recorded a week ago. Month-on-month, the index has increased around 1%
from around 41.47 real per 50 kilograms recorded month ago. In terms of USD,
the index increased around 5% 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 $40 per ton
from a month ago and down about $160 per ton from a year ago.
U.S.
U.S. 4% broken rice is
today quoted at about $460 per ton, down about $5 per ton from a week ago, down
about $10 per ton from a month ago and down about $20 per ton from a year
ago.
Iraq has passed on
tenders to purchase around 90,000 tons of U.S. non-glutinous rice. The
tenders closed on February 21 and the lowest offer was reportedly 30,000 tons
of U.S. rice at $597 per ton (c&f).
Chicago rough rice
futures for March delivery dropped steadily this week, especially after news
that the Iraqi Grain Board canceled the most recent tender for U.S. rice.
After opening at $11.000 per cwt (about $243 per ton) on Monday, futures didn’t
cross the $11.000/cwt threshold again this week, settling at the weekly low of
$10.140 per cwt (about $224 per ton) on Friday and closing just up from that at
$10.255 per cwt (about $226 per ton).
The U.S. cash market
was also seen materially weaker late in the week after the Iraqi Grain Board
failed to award the tender to U.S. rice.
Other Markets
The European
Commission has reduced the maximum residue level for the
pirimiphos-methyl insecticide to 0.5 parts per million for rice cultivation
(earlier regulations set the level at 5 ppm).
European environmental
organizations, some scientists, and organic farmers are seeking to stop the use
of glyphosate in EU agriculture. EU national
representatives will vote on whether to relicense glyphosate on March 7.
The European
Union imported 572,619 tons of rice during the period September
1-February 16, an increase of about 23% from the previous year.
Eleven new varieties
of rice have been included in Italy’s National Register of
Varieties of Agricultural Species.
The Rural Development
Administration in South Korea plans to encourage companies to
produce medicines and other health products using black rice, noting it
contains one of the highest levels of anthocyanin antioxidants. The UN’s FAO
forecasts that South Korea will import 440,000 tons of rice in 2016. The
government of South Korea plans to purchase about 157,000 tons of rice from
local farmers next month in efforts to stabilize prices.
The El Nino weather
phenomenon has caused extensive dry conditions in the Philippines,
resulting in damages to about 94,934 tons of rice worth P1.62 billion (around
$24 million). Researchers from the Philippine Rice Research Institute have
adapted the loop-mediated isothermal amplification (LAMP) technique, which has
proven useful in detecting viruses in animals and humans, to detect viruses in
rice plants. Meanwhile, the World Bank Lead Economist advised the government of
the Philippines to remove quantitative restrictions on rice imports and open
the rice import market to avoid unnecessary price increases and enhance the
efficiency of the rice sector.
The UN’s FAO forecasts
Malaysia’s MY 2015-16 (July-June) rice imports to increase
despite an anticipated record rice production in 2015 due to strong domestic
demand.
The UN’s FAO forecasts
Japan’s MY 2015-16 (April-March) rice imports at around
700,000 tons and 2015 paddy rice production at around 10.2 million tons, down
about 5% from 2014 due to a reduction in paddy area. Japanese rice
traders expect the country to import more rice this year due to higher domestic
prices, which have increased about 10% y/y to around 227 yen per kilogram
(about $2,021 per ton).
During January 2016, China
imported about 287,200 tons of rice, about 2.3 times more than the same period
last year. China’s rice imports in January declined about 27% m/m.
An agro processing,
seed and crop solution company in Bangladesh has collaborated
with the Philippines-based International Rice Research Institute to enhance
varietal rice breeding in the country.
The government of Cuba
has signed new credit agreements with the Export-Import Bank of China to
receive support from the East Asian nation for the development of agriculture
and railroad programs.
The UN’s FAO forecasts
Iran to import about 1.2 million tons of rice in 2015-16
(April-March) despite an increase in 2015 paddy rice production.
Experts say that Uganda
needs improved and modernized farming tools in order to boost rice production.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Continue
to Move Lower as Demand Fades
Feb 27, 2016
Chicago rough rice
futures for Mar delivery settled 4.5 cents per cwt (about $1 per ton) lower at
$10.390 per cwt (about $229 per ton). The other grains finished the day lower;
Soybeans closed about 0.2% lower at $8.6350 per bushel; wheat finished about
0.4% lower at $4.5225 per bushel, and corn finished the day about 0.3% lower at
$3.5950 per bushel.
U.S. stocks struggled
to hold opening gains Friday after dipping as oil came off highs and inflation
data increased expectations for a rate hike in the coming year. The core
personal consumption expenditures price index, which excludes food and energy,
is the Fed's preferred inflation measure and showed a 1.7% rise in the 12
months through January, the largest since July 2014. In other economic news,
final consumer sentiment for February was 91.7, down from 92.0 in January.
Speaking overnight at the G-20 meeting of central bank governors and finance
ministers that kicked off in Shanghai, China's central bank governor Zhou
Xiaochuan sent a message of confidence and repeated earlier reassurances the
country would not stage another devaluation of its currency to support the
economy. In afternoon trade, the Dow Jones industrial average declined 18
points, or 0.11%, to 16,679. The S&P 500 was up 0.5 points, or 0.02%, at
1,952, with materials leading five sectors higher and utilities the greatest
laggard. The Nasdaq composite traded up 10 points, or 0.22%, at 4,592. Gold is
seen trading about 1.1% lower, crude oil is seen trading about 0.2% lower, and
the U.S. dollar is seen trading about 0.9% higher at about 2:30pm Chicago
time.
Thursday, there were
3,079 contracts traded, down from 3,105 contracts traded on Wednesday. Open
interest – the number of contracts outstanding – on Thursday increased by 354
contracts to 12,773.
