Cambodia Rice Farmers Win Over A Private Soil Company
Feb 23, 2015
A
group of about 100 rice farmers have protested the move by a private soil
tilling company to excavate rice fields in about 50 hectares and sell the soil
in the market for about $20 per truckload, according to local sources.The soil
company was reportedly owned by a Deputy Provincial Military Commander and was
carrying on the excavation work saying the work was part of digging an
irrigation canal.
The
farmers who gathered at the Provincial Hall strictly protested the company's
move saying they had not been informed earlier and the land is their life. The
Administrative Director of the Province noted that the company had withdrew its
plans to excavate the assigned land and sought the permission of provincial
authorities, which is still pending.The license of the private soil company was
reportedly revoked last year cancelling its access to the previous excavation
site. Therefore the company has been trying to amass soil from the rice lands
in the villages.
Oryza Afternoon Recap - Chicago Rough Rice Futures Tumble as Buying
Interest Dries Up
Feb 23, 2015
Chicago rough rice
futures for Mar delivery settled 32.5 cents per cwt (about $7 per ton) lower at
$10.465 per cwt (about $231 per ton). Rough rice futures tumbled today as
selling pressure once again ramped up and the buying that had supported prices
last week appears to have dried up. Today’s action is seen as a negative
development and signals a likely return to the bearish trend which has held for
the past few months and seen prices fall drastically over the winter. The other
grains finished with mixed results; Soybeans closed unchanged at $9.9925 per
bushel; wheat finished about 0.9% lower at $5.0575 per bushel, and corn
finished the day about 1.7% lower at $3.7875 per bushel.
U.S. stocks pulled
back slightly from Friday's highs to trade mostly lower on Monday, amid
anticipation of Fed chair Janet Yellen's remarks over the next two days.
Investors awaited the presentation of Greek reform proposals early afternoon ET
on Monday after the country's bailout program received a four-month extension
from the Eurogroup. A Greek government official told Reuters that the country
will submit the list of its reforms to the Eurogroup on Tuesday morning. The
list will include reforms to fight tax evasion and corruption, measures to
reform the public sector and cut bureaucracy, the official said. The Dow Jones
Industrial Average traded down 32 points, or 0.18%, to 18,106. The S&P 500
traded down 3 points, or 0.11%, to 2,108, with financials the greatest laggard
and health care leading three sectors higher. The Nasdaq fell 2 points, or
0.04%, to 4,954. Gold is trading about 0.4% lower, crude oil is seen trading
about 2.7% lower, and the U.S. dollar is seen trading about 0.3% higher at
about 1:45pm Chicago time.
Friday, there were
1,753 contracts traded, down from 2,197 contracts traded on Thursday. Open
interest – the number of contracts outstanding – on Friday decreased by 225
contracts to 9,173.
Oryza Overnight Recap – Chicago Rough Rice Futures Begin Week on Negative
Tone
Feb 23, 2015
Chicago
rough rice futures for Mar delivery are currently listed 4 cents per cwt (about
$1 per ton) lower at $10.750 per cwt (about $237 per ton) ahead of floor
trading in Chicago. The other grains are seen paused mixed this morning:
soybeans are currently seen about 0.3% higher, wheat is listed about 0.1% lower
and corn is currently noted about 0.3% lower.U.S. stock index futures signaled
a mostly lower open on Monday as uncertainty surrounded Greece's deal with its
euro zone creditors to extend its bailout. Greece's left-wing government, led
by Prime Minister Alexis Tspiras, was given a lifeline when the Eurogroup of
euro zone finance ministers reached a deal to extend the country's bailout by
four months.
To
secure the financial lifeline, however, Greece must present a list of reform
proposals on Monday. European stocks performed well, with Germany's DAX hitting
a new record high, while the FTSE 100 also neared its all-time peak. This week
is set to be eventful on the data front, with Federal Reserve Chair Janet
Yellen's semi-annual testimony to Congress due Tuesday and Wednesday. On
Monday, the Chicago Fed's national activity index is due at 08.30 a.m. ET,
followed by existing home sales at 10.00 a.m. ET. The Texas Manufacturing
Outlook Survey is also due at 10.30 a.m. ET. On Friday, U.S. stocks rallied to
close at record highs after the resolution between Greece and the euro zone.
The Dow Jones industrial average closed up more than 150 points, its first
record close for 2015. The S&P 500 ended the week at its third record close
for the year. The Nasdaq also closed higher, within 50 points of the key 5,000
level. Gold is currently trading about 0.4% lower, crude oil is seen trading
about 3.5% lower, and the U.S. dollar is currently trading about 0.5%
higher at 8:00am Chicago time.
Spain’s Ministry of Ag Reports Paddy Rice Quotes
Feb 23, 2015
In the latest weekly
report dated February 11 supplied by Spain’s Ministry of Agriculture, Indica
paddy at the Badajoz Grain Exchange was shown firm at 275 euros (about $ 310)
per ton, and at 260 euros (about $ 293) per ton at the Seville Grain Exchange.In
the same week paddy rice Japonica was shown at 282 euros (about $ 318) per ton
at the Badajoz Grain Exchange, at 337 euros (about $ 380) per ton at the
Valencia Grain Exchange, and at 283 (about $ 319) per ton at the Seville Grain
Exchange.Meanwhile milled rice in Tarragona was firm at 550 euros (about $ 621)
per ton, and in Valencia at 580 euros (about $ 653) per ton.
Oryza U.S. Rough Rice Recap - Prices Soften as Futures Fall
Feb 23, 2015
The U.S. cash market
was softer today, falling roughly $0.35 per cwt (about $8 per ton) in sympathy
with the futures market and limited demand.Analysts note that farmer selling
interest remains limited with most indicating that they will not sell unless
they absolutely have to.
Buyers are also
continuing to show little interest in the market as most domestic buyers
continue to purchase hand-to-mouth while the river bids have gone quiet.
Pakistan Rice Sellers Lower Some of Their Quotes; Other Asia Rice Quotes
Unchanged Today
Feb 23, 2015
Pakistan rice
sellers lowered their quotes for 5% broken rice by about $10 per ton to around
$335 - $345 per ton today. Vietnam rice sellers are out today due to national
holiday. Other Asia rice sellers kept their quotes unchanged today.
5% Broken Rice
Thailand 5% rice is
quoted at around $405 - $415 per ton, about $50 per ton premium on Vietnam 5%
rice last shown at around $355 - $365 per ton. India 5% rice is quoted at
around $390 - $400 per ton, about $55 per ton premium on Pakistan 5% rice
quoted at around $335 - $345 per ton, down about $5 per ton from Friday.
25% Broken Rice
Thailand 25% rice is
quoted at around $365 - $375 per ton, about $40 per ton premium on Vietnam 25%
rice last shown at around $325- $335 per ton. India 25% rice is quoted at
around $355 - $365, about $50 per ton premium on Pakistan 25% rice quoted at
around $305 - $315 per ton.
Parboiled Rice
Thailand parboiled
rice is quoted at around $405 - $415 per ton. India parboiled rice is quoted at
around $385 - $395 per ton, on par with Pakistan parboiled rice quoted at
around $385 - $395 per ton.
100% Broken Rice
Thailand broken
rice, A1 Super, is quoted at around $320 - $330 per ton, about $15 per ton
premium on Vietnam 100% broken rice last shown at around $305 - $315 per ton.
India's 100% broken rice is shown at around $280 - $290 per ton, about $5
per ton premium on Pakistan broken sortexed rice quoted at around $275 - $285
per ton.
Rice Farmers in Indian State of Punjab Urged to Switch to Other Crops from
Paddy
Feb 23, 2015
Analysts have been
warning that continuous planting of paddy has been leading to faster depletion
of groundwater as well as damaging the quality of soil in the Indian state of
Punjab. Therefore the Indian government has urged the Punjab state government to
motivate farmers to switch from paddy planting and adopt other crops such as
maize and cotton.However, rice farmers in the state have been preferring to
plant paddy given its lucrative returns. For instance in the 2014 Kharif season
(June - December), the total acreage under paddy, including basmati, increased
about 6.41% to around 2.82 million hectares from around 2.65 million hectares
in 2013 despite receiving 50% lesser rains.
Analysts say farmers
had spent hugely to dig new bore wells and keep the rice crop continuing.
Despite all these challenges, famers are reluctant to switch to other crops
such as maize or cotton. In fact in 2014 kharif season acreage of these two
crops declined by 19% and 15% respectively y/y.The analysts noted that the
state government has a greater role to play in educating farmers regarding the
associated negative effects with paddy planting and encouraging them to grow
other crops as well. The government's role in helping them market the new crops
(to which they switch to) effectively so that they maintain their incomes.The
Indian government is now taking measures to increase paddy production from the
eastern states so that dependence on Punjab could be reduced significantly.
Punjab is the most
important rice producing state in India and accounts for about 11% of total
rice production in India. Punjab produced around 11.374 million tons of rice in
FY 2012-13 (October – September), up about 8% from around 10.54 million tons
produced in FY 2011-12, according to the Directorate of Economics and
Statistics under the Agriculture Ministry.
Thailand Plans to Auction One Million Tons of Rice in Early March
Feb 23, 2015
The
Thai government has around 17.8 million tons of rice in its stockpiles and is
planning to sell around 10 million tons of stockpiled rice in 2015 and around 7
million tons next year.Separately, the Commerce Ministry has dismissed two top
officials of the Foreign Trade Department for their alleged involvement in
fraudulent government-to-government rice deals following a ruling by the
Ministry's Office of the Civil Service Commission. Last Month, the National
Anti-Corruption Commission (NACC) said 21 individuals, including the former
Commerce Minister, the former Deputy Commerce Minister as well as 19 high-level
officers and private sector employees, would be charged for alleged corruption
in government-to-government (G2G) rice deals.
Hoarding and Illegal Reselling Suspected to Push Up Rice Prices in
Indonesia
Feb 23, 2015
The
government of Indonesia is suspecting whether illegal stockpiling and reselling
are key reasons for significant rice price hikes in the country and has planned
to conduct auditing of at least 14,000 warehouses across the country to find
for any misdealings, according to local sources.The Trade Ministry officials
told local sources that they recently discovered indications of misdealings in
one of the warehouses that stockpile rice from the State Logistics Agency
Bulog.
According
to the Ministry's Director General, the Ministry will jointly conduct an audit
with an independent auditing company on warehouse stocks, distribution chains
and their owners. She noted that anyone found guilty could face up to five
years of jail and fines up to 50 billion Rupiah (Around $3.9 million) as well
as revoking of their licenses.
The
Trade Minister also directed the Bulog to evaluate its distribution channels
and ensure the recurrence of any misdeeds going further. He also indicated that
there would be no imports ahead of the harvest time.While the government
already distributed 75,000 tons of Bulog rice that it bought from local farmers
between December and January. Since there were no signs of price dips, on
February 16, the government decided to increase the distribution of Bulog rice
through 12 traditional markets and 50 settlement areas in Greater Jakarta to
control price hikes. The agency currently distributes rice at a fixed price of
7,400 Rupiah per kilogram (around $576 per ton) on the market.
Domestic rice prices
have been surging since September 2014. According to data from the UN's Food
and Agricultural Organization (FAO), local rice prices in January 2015
currently stand at around 9.78 million Rupiah (around $761) per ton, up about
10% from around 8.93 million Rupiah (around $750) per ton in September 2014,
and up about 9% from their year ago levels.
Pakistan
FY 2014-15 Paddy Rice Production Estimated at 8.437 Million Tons; Down 19% from
Last Year
Feb
23, 2015
In the January Crop Monitoring
System Bulletin, the National Space Agency of Pakistan (SUPARCO) and UN’s Food
and Agriculture Organization (FAO have estimated Pakistan FY 2014-15 (July -
June) paddy rice production to decline about 19% to around 8.437 million tons
(around 5.65 million tons, basis milled) from around 10.04 million tons (around
6.72 million tons, basis milled) produced last year.The decline is attributed
to floods that hit the Punjab state in the month of August 2014 having damaged
around 116,700 hectares of paddy fields. Over 217,000 tons of paddy is said to
be lost in the Punjab state. The government of Punjab has announced a
compensation of Rs.16 billion (around $159 million) to the flood-affected
communities.
SUPARCO is estimating FY 2014-15
paddy rice acreage at around 3.29 million hectares and yield at around 2.568
tons per hectare.According to SUPARCO, January received slight rain after dry
periods in November and December. Minimum temperature during early January remained
normal but decreased in the later part of the month. Planting for Rabi crops
such as wheat has started in most of the areas.
Meanwhile, experts opine that a
proper fertilizer policy is needed to boost the country's paddy rice
production. Currently, Pakistan produces only 3.1 million tons of fertilizer
against an existing demand of around 4 million tons due to shortages of natural
gas. Therefore they are urging the government to devise a new policy under
which gas supply to fertilizer plants improves and consequently the country's
fertilizer production reaches 5 million tons.Paddy prices of both non-basmati
and basmati, which began to decline since November 2014 continued to
decline in January due to increased supplies from the just completed harvests.
Prices of basmati dropped to around Rs.2,200 - 2,500 per 40 kilograms (around
$541 - $614 per ton) from around Rs.4,500 - 4,800 per 40 kilograms (around
$1,121 - $1,196 per ton) in the beginning of November. Prices of non-basmati
prices declined to around Rs.700 - 750 per 40 kilograms (around $172 - $184 per
ton) in January from Rs.900 - Rs.1,000 per 40 kilograms (around $224 - $249 per
ton) in November 2014.
USDA estimates Pakistan's MY
2014-15 (November - October) milled rice production to decline about 3% to
around 6.5 million tons (around 9.75 million tons, basis paddy) from around 6.7
million tons (around 10.05 million tons, basis paddy) in MY 2013-14.
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