Cambodia Exports 162,275 Tons of Rice in the First Three Months of 2016; Up
9% from Previous Year
Apr 06, 2016
Cambodia has exported
around 162,220 tons of milled rice in the first three months of 2016, up about
9% from around 149,464 tons exported during the same period last year, Khmer
Times quoted data from the Secretariat of One Window Service for Rice Export
Formality (SOWS-REF).
Month-on-month,
Cambodia's rice exports in March 2016 increased about 28% to around 66,275 tons
from around 51,912 tons in February 2016. Year-on-year Cambodia's rice exports
in March 2016 declined about 13% from around 75,867 tons in March 2015.
The top three
destinations during the month were China (16,682 tons), France (8,542 tons) and
Poland (7,428 tons), according to the official data.
Exporters say lack of
capital for buying paddy from rice growers is a major hindrance for the
country's exports. They have sought financial assistance from the government.
One of the leading rice exporters noted that if the government does not respond
positively, some exporters may have to quit the rice export businesses. “The
lack of capital is the big concern and El Nino. People want to buy our rice,
but we don’t have the capital to buy the rice and we urgently need a loan from
the government,” according to the Cambodia Rice Federation (CRF) President.
Cambodia has exported
around 538,396 tons of milled rice in 2015 (January - December), up about 39%
from around 387,061 tons exported during the same period last year.
USDA estimates
Cambodia to export 900,000 tons of rice (including official and unofficial
exports to Vietnam and Thailand through borders) in 2016, down about 18% from
an estimated 1.1 million tons in 2015.
Oryza March 2016 Rice Market Review
Apr 07, 2016
The Oryza White Rice
Index (WRI), a weighted average of global white rice export quotes ended the
month of March at $387 per ton, up $5 per ton from a month ago and
down $26 per ton from a year ago. Projections show contracting future
rice supplies, but buying remains mostly hand-to-mouth.
The International
Grains Council (IGC) forecasts 2016-17 global rice production at about 485
million tons, up about 2.5% from an estimated 473 million tons in 2015-16
citing expectations for improved Asian production. The IGC slightly lowered its
estimates for 2015-16 rice production by 1 million tons. The IGC forecasts
2016-17 global rice trade at about 42 million tons, unchanged from its estimate
for 2015-16. The IGC forecasts global rice ending stocks at about 93 million
tons in 2016-17, down about 4% from an estimated 97 million tons in 2015-16.
The agency forecasts 2016-17 global rice consumption to increase about 1% to
about 489 million tons from an estimated 485 million tons in 2015-16.
Thailand
Thailand 5% broken rice
quotes ended the month of March at about $370 per ton, up about $10 per ton
from a month ago and down about $20 per ton from a year ago.
The USDA Post
forecasts Thailand's MY 2015-16 (January-December 2016) rice exports at about 8
million tons, down from about 9.8 million tons in MY 2014-15 due to tight
supplies of new-crop white and parboiled rice as well as sluggish demand from
the African market. The Post is also expecting the sales of old-rice crop in
the stockpiles to slow down in the coming months. Average monthly rice exports
for the next eight months are forecast at about 600,000 - 700,000 tons as
against one million tons in January 2016. However, the Post is expecting the
Thai rice exports to accelerate in the last quarter of 2016 when supplies of
new-crop white rice enter the market. The agency forecasts Thailand's MY
2015-16 paddy rice production at about 24 million tons, down from last
year's 29.4 million tons and down from USDA's official estimates of about 24
million tons due to a sharp reduction in off-season rice acreage and
production.
Meanwhile, the
Honorary President of the Thai Rice Exporters Association (TREA) noted that
exports during the first quarter of 2016 are likely to be sluggish due to low
demand from traditional markets as well as increasing competition from India,
Vietnam and Pakistan. However, he predicts that exports will recover in the
second quarter.
The government of
Thailand is planning to sell more than 100,000 tons of food-grade rice in the
second half of April. Separately, the Thai government auctioned 418,000 tons of
food-grade rice fit for human consumption on March 30 and 223,000 tons of
non-food grade rice on March 31, 2016.
Meanwhile, the El
Nino-induced drought has damaged about 2 million rai (about 320,000 hectares)
of rice lands in Thailand since January last year. About 1.1 million tons
of rice worth 15.5 billion baht (about $442 million) has been damaged as of
March 17, 2016, says the OAE. Government approved a budget of about 32.4
billion baht (about $924 million) to ease the impact. Meanwhile, Thailand's
Agriculture Ministry is expecting the water crisis due to drought is likely to
ease over the next few months as water levels in the country's dams would be
sufficient until seasonal rains begin in April and May, according to Bloomberg.
The Finance Ministry
committee that is looking into the accounts of the rice pledging scheme,
introduced by the previous government, has reported that the actual losses from
the scheme are higher than the earlier estimates of about 680 billion baht
(about $19 billion), according to local sources.
A number of research
institutes in Thailand are keen on investing the country's rice research
activities to help the government increase the competitiveness of Thai rice and
rice products in the global market.
The government of
Thailand is planning to hold road shows as part of efforts to boost Thai rice
exports and achieve the 9.5 million target, Reuters quoted the Foreign Trade
Department's Director-General.
Vietnam
Vietnam 5% broken rice
quotes ended the month of March at about $380 per ton, up about $20 per ton
from a month ago and up about $10 per ton from a year ago.
Vietnam exported 1.426
million tons of rice in first quarter of 2016, up about 58% from 901,692 tons
of rice exported during same period in last year, according to data from the
Vietnam Food Association (VFA). The average rice export price during the period
stands at about $405 per ton (FOB), down about 7% per ton from about $434 per
ton recorded during same last year.
Separately, Vietnam
rice exports are becoming less competitive due to higher prices compared to
exports from Thailand and India, local sources quoted the Chairman of the VFA.
An official from the Vietnamese Embassy in Cambodia suggested that Vietnam businesses
should consider growing rice in Cambodia to boost exports to the EU as Cambodia
enjoys a preferential tariff of zero percent on rice exports to the EU under
the Everything But Arms (EBA) agreement, according to local sources.
The Committee for
Economic Affairs (CEA) under the Vietnam National Assembly has approved the
government's proposal to reduce rice growing area in the country by about
270,000 hectares to about 3.76 million hectares by 2020 from about 4.03 million
hectares in 2015, according to Tuoitre News.
Vietnam's Ministry of
Agriculture and Rural Development (MARD) reports that the on-going drought and
salt water intrusion have damaged more than 200,000 tons of rice worth one
trillion VND (about $44.64 million), according to Radio Free Asia. Meanwhile,
the government of Vietnam will need about 34 trillion dong (about $1.515
billion) to cope with damages from drought and salinity, Bloomberg quotes the
Agriculture Ministry. China has agreed to release water from its Jinghong
Hydropower Station reservoir into the lower Mekong River to help Vietnam deal
with drought and salinity in a number of provinces in Mekong Delta, according
to Vietnam Net.
Cambodia &
Myanmar.
Cambodia 5% broken rice quotes ended the month of March at about
$425 per ton, up about $10 per ton from a month ago and down about $15 per ton
from a year ago. Cambodia has exported about 162,220 tons of milled rice in the
first three months of 2016, up about 9% from about 149,464 tons exported during
the same period last year, data from the Secretariat of One Window Service for
Rice Export Formality (SOWS-REF) showed. Cambodian government said that it
would remove the current value added tax (VAT) on milling machines and take
action on companies importing rice from neighbouring countries and rebranding
it as Cambodian rice, according to Khmer Times. Meanwhile, the Cambodia Rice
Federation (CRF) sought a $250 million loan, at a concessional rate of 4%, to
help bail out the rice sector. They also urged the government to reduce the
electricity tariffs to about 400 riel ($0.10) per kilowatt/hour; and negotiate
with Thai authorities too allow the use of the Thai’s Laem Chabang Port in
order to reduce transport costs and increase Cambodia’s competitiveness.
Members of the CRF are considering to develop a price-support mechanism for the
country's rice exports, according to the Cambodia Daily. Meanwhile, Cambodia's
Foreign Minister has urged Malaysian businessmen to invest in the country's
rice milling sector as part of discussions with the Malaysian Ambassador to
Cambodia.
Myanmar 5% broken rice quotes ended the month of March at about
$420 per ton, down about $5 per ton from a month ago, and up about $5 per ton
from a year ago. The FAO estimates Myanmar's 2015 paddy production at about
27.5 million tons (including 22.81 million tons from the monsoon crop and about
4.678 million tons from the secondary crop) down about 3% from about 28.193
million tons in 2014. the agency forecasts MY 2015-16 rice exports at about
1.55 million tons, down 4% from last year. the agency added that Myanmar's
average domestic rice prices increased about 37% in February 2016 due to
tighter domestic supplies.
Philippines
The government of the
Philippines may not import rice for the lean season (July-September) this year
due to adequate stocks, Bloomberg quotes the National Food Authority (NFA)
Administrator. Normally, the government imports rice during lean months to
ensure adequate stocks and to curb price hikes. However, earlier this month,
the Food Security Council and the NFA Council have decided not to approve the
proposed additional 500,000 tons of rice in the second quarter due to adequate
supplies.
The Philippines
Department of Agriculture (DA) is estimating that about 131,649 tons of rice
worth 5.33 billion pesos (about $114.2 million) has been lost since February
2015, according to Bloomberg.
Halal certification by
the Islamic Da'wah Council of the Philippines opens more export markets for the
country's rice in the Middle East, according to the Business World Online.
China
The FAO forecasts
China's MY 2015-16 (June - May) rice imports (both official and unofficial) to
decline about 6% y/y to about 5.8 million tons due to government's efforts to
limit informal imports. The agency forecasts China's 2015 paddy rice output at
about 208.25 million tons, up from about 206.507 million tons in 2014 due to
favourable weather conditions.
India
India 5% broken rice
quotes ended the month of March at about $375 per ton, up about $10 per ton
from a month ago, and down about $5 per ton from a year ago.
Average monthly
wholesale rice prices in India stood at about Rs.2,833.93 per quintal (about
$426 per ton) in March 2016, up about 1.6% from about Rs.2,787.6 per quintal
(about $406 per ton) in February 2016, and slightly down from their year-ago
levels of about Rs.2,849.55 per quintal (about $460 per ton).
The government of
India is planning to strike an oil for food exchange deal with the Gulf
Cooperation Council (GCC) countries under which it is keen on increasing the
exports of basmati rice and wheat to the GCC countries.
Meanwhile, a report by
a private Indian research agency forecasts revival of the country's basmati
rice sector in the second half of FY 2016-17 (April - March), according to the
Press Trust of India. Exporters are expecting India's basmati rice exports in
FY 2015-16 at about 4 million tons as against 3.7 million tons in FY 2014-15
due to strong demand from the Middle East and lower prices.
Pakistan
Pakistan 5% broken
rice quotes ended the month of March at about $345 per ton, up about $5 per ton
from a month ago and down about $10 per ton from a year ago.
Pakistan basmati rice
export prices have increased for third consecutive month in February 2016,
after declining continuously for three months from September 2015, according to
the UN's Food and Agriculture Organization (FAO). In February 2015, Pakistan's
basmati rice export prices have increased by about 1.4% to about $745 per ton
from about $734 per ton in January 2015, and down about 24% from their year-ago
levels of about $978 per ton.
Separately, the Rice
Exporters Association of Pakistan (REAP) has urged the country's Central Bank
to extend the payback period for the export refinance loans to 360 days from
the current 180 days to help exporters cope with the falling global rice
prices, according to the Nation.
The governments of
Pakistan and Iran have agreed to prepare a ground to sign a free trade
agreement (FTA), which would boost bilateral trade between the two countries.
Bangladesh
The USDA Post
forecasts Bangladesh's MY 2016-17 (May - April) milled rice production at about
34.55 million tons, slightly up from an estimated 34.5 million tons last year
due to a slight increase in acreage to 11.8 million hectares from an estimated
11.765 million hectares last year. The Post is forecasting Bangladesh's MY
2016-17 rice imports to increase to about 1.3 million tons, up from an
estimated 350,000 tons in MY 2015-16 due to less total supplies because of low
imports and production in MY 2015-16.
Meanwhile, the
government of Bangladesh is planning to explore new markets for its rice in
African countries, newagebd.net quoted the Food Minister.
Separately, the
Bangladesh government reduced the OMS price of rice to Tk 15 per kilogram
(about $196 per ton) from the current price of Tk 20 per kilogram (about $261
per ton) to clear the reserve stocks ahead of the Boro harvest, which will
begin shortly.
Indonesia
The government of
Indonesia is keen on exporting about 100,000 tons of rice to ten countries,
including Malaysia, Singapore and Brunei Darussalam, this year as part of its
efforts to increase farm commodity exports.
The government of
Indonesia has launched a paddy rice purchase program to stabilize paddy prices
at the farmers' level, Reuters quoted local sources. He said that the state
logistics agency Bulog will purchase paddy directly from farmers under this
program, which mainly aims to cut the distribution chain as well as reduce the
involvement of middle men. With the Bulog directly purchasing paddy, farmers
would be encouraged to plant more rice and contribute to a higher output in the
country, he added.
Latin America
Brazil exported about 170,751 tons of rice in the first two months
of 2016, up about 42% from about 119,828 tons exported during the same period
in 2015, according to data released by the Rice Institute of Rio Grande do Sul
(IRGA). Separately, Brazil’s National Grains Supply Company (Conab) forecasts
the country's 2015-16 paddy rice production at about 11.215 million tons, down
about 10% from an estimated 12.44 million tons in 2014-15. Conab's paddy
production forecast is also down by about 2% from its February forecast of
about 11.5 million tons. Meanwhile, Brazil rice stocks stood at about 92,260
tons in February 2016, down about 16% from about 110,388 tons in January 2016
and down about 32% from about 135,717 tons in February 2015, according to the
country's national grain supplying agency Conab.
Five percent broken
rice from Uruguay and Argentina quotes ended
the month of March at about $430 per ton, down about $10 per ton from a
month ago and down about $145 per ton from a year ago.
The USDA Post
forecasts Mexico's MY 2015-16 (October - September) rice
imports at about 690,000 tons, slightly down from about 698,000 tons last year,
and down from USDA's official estimates of about 700,000 tons based on the
import pace in the first four months of the marketing year. It forecasts
Mexico's MY 2016-17 imports to increase to 750,000 tons. The agency forecasts
Mexico's MY 2015-16 paddy rice production at about 223,000 tons, down from
about 261,000 tons last year.
The USDA Post
forecasts Colombia's MY 2016-17 (April - March) rice imports
at about 320,000 tons, slightly up from an estimated 300,000 tons last
year due to an expected increase in production. The USDA Post forecasts
Colombia's MY 2016-17 paddy rice production at about 2 million tons, up from an
estimates 1.985 million ton.
The Guyana
Rice Development Board (GRDB) has signed agreements with two Jamaican companies
recently to export about 80,000 tons of rice to the Caribbean nation in 2016,
almost double from about 48,000 tons exported in 2015, the Caribbean Trakker
quoted a press release by the Guyanese Agriculture Ministry.
U.S.
U.S. 4% broken rice is
quotes ended the month of March at about $445 per ton, down about $15 per
ton from a month ago and down about $40 per ton from a year ago.
The USDA lowered the
forecast for U.S. all rice exports to about 4.54 million tons in 2015-16, from
an estimated 4.76 million tons in 2014-15 and down from its previous estimates
of about 4.63 million tons due to reduced shipments of southern medium-grain
rough rice, especially to Turkey. The agency forecasts 2015-16 all rice use at
about 10.02 million tons, down from about 10.61 million tons last year and down
from its previous estimates of about 10.12 million tons. It forecasts 2015-16
all rice ending stocks at about 1.99 million tons, up from an estimated 1.95
million tons last year and up from its previous estimates of about 1.9 million
tons. The USDA lowered all rice average farm prices to about $273.37 - $291.00
per ton from its last month's forecast of $275.57 - $293.21 per ton due to
lower projected medium- and short-grain prices.
Africa
The FAO forecasts Nigeria's
2016 rice imports to remain high despite the government's efforts to increase
rice production and curb imports. The FAO forecasts Nigeria’s 2015 paddy rice
production at about 4.6 million tons, down about 6% from about 4.9 million tons
in 2014. Meanwhile, The government of Nigeria assured that it would stable the
price of rice from April to make it more affordable to all the everyone in the
country.
The FAO estimates Sierra
Leone's 2015 paddy rice production increased about 10% y/y to about
1.271 million tons from about 1.155 million tons in 2014 due to adequate rains
and soil moisture during the cropping season (March - December). Sierra Leone
is a net importer of rice though the rice imports have been declining in recent
years.
The FAO estimates Senegal's
2015 paddy production increased by about 64% y/y to about 917,000 tons from
about 559,000 tons in 2014 due to favourable weather conditions and enhanced
government support. Senegal is a net importer of rice and imports over one
million tons of rice or over 65% of about 1.4 million tons of rice needed for
its domestic consumption.
The government of Mali
forecasts MY 2016-17 (May - April) paddy rice output at about 2.712 million
tons, up about 11% from about 2.451 million tons produced in 2015-16, Reuters quotes
a government document. Separately, Mali is reportedly planning to invest about
51 billion CFA francs (about $86.23 million) during the year to boost paddy
rice production.
The USDA Post
forecasts Tanzania's MY 2015-16 (May - April) rice imports to
increase about 60% to about 160,000 tons from an estimated 100,000 tons in MY
2014-15, and up from USDA's official estimates of about 150,000 tons as
consumption is likely to surpass production. The Post forecasts Tanzania's MY
2015-16 rice consumption at about 1.8 million tons from an estimated 1.7
million tons last year, and milled rice production at about 1.75 million tons
from an estimated 1.7 million tons.
The USDA Post
forecasts South Africa's MY 2016-17 (May - April) rice
consumption to increase about 10% to about 970,000 tons from an estimated
880,000 tons in MY 2015-16 due to drought reflected record corn prices.
Consequently, the Post forecasts South Africa's MY 2016-17 rice imports to
increase about 10% to about 1.1 million tons from an estimated one million tons
in MY 2015-16.
Europe
The European Union's
(EU) imported about 715,795 tons of rice during the period September 1, 2015 -
March 29, 2016, up about 14% from about 629,352 tons imported during the same
period last year. Meanwhile the EU exported about 129,541 tons of rice during
the period September 1, 2015 - March 29, 2016, down about 18% from about
157,979 tons exported during the same period last year.
The EU rice imports
from the Least Developed Countries (LDCs) of Asia such as Cambodia and Myanmar
under the Everything But Arms (EBA) Agreement have reached about 217,174 tons
in the first seven months of the crop year 2015-16 (September 2015 - March
2016), up about 30% from about 167,669 tons imported during the same period
last year, according to data from the European Commission (EC).
Other Markets
The South
Korean cabinet has approved the government's decision to purchase an
additional 157,000 tons of rice from local farmers to stabilize prices,
according to Yonhap News. The government will reportedly spend about 140
billion won (about $113.6 million) for the purpose. The government had
purchased 200,000 tons of local rice in October 2015 to check falling prices.
The USDA Post
forecasts Egypt's MY 2015-16 (October - September) rice
exports at about 250,000 tons, unchanged from the previous year, but down from
the USDA's official estimates of about 400,000 tons. Egypt’s rice is not
internationally competitive under the current government policy, which requires
rice exporters to pay export tax of about LE 2,000 (about $256) per ton of
rice. The USDA Post forecasts Egypt's MY 2015-16 milled rice production at 4
million tons, down from last year's 4.53 million tons. Separately, the
government of Egypt is planning to import rice to ensure uninterrupted rice
supplies for the state subsidized rice program as local traders have been
hoarding rice in expectation of high prices, according to Bloomberg. Meanwhile,
Egypt will ban rice exports from April 4, says the nation's Trade Minister.
The USDA Post forecasts
Saudi Arabia's MY 2015-16 (January - December 2016) rice
imports at about 1.48 million tons, up about 4% from an estimated 1.42 million
tons in MY 2014-15 due to population growth and increased number of foreign
visitors to Makkah for performing Hajj and Umrah rituals. The Post forecasts
imports in MY 2016-17 to further grow to about 1.53 million tons. Saudi Arabia
does not produce any rice locally and depends fully on imports to meet its rice
consumption demand.
Research and
Scientific Development:
Experts have stressed
the need for public and private sector institutions in Africa to join hands to
address rice research and production challenges in the continent.
An Indian agri-biotech
company is developing a high-yielding and salinity-tolerant rice variety
jointly with a U.S. based Biosciences company.
Life Cycle Assessment
(LCA) tool can be used to mitigate the negative impact of rice production on
environment.
Scientists from
Colombia, the Philippines, Indonesia, the United States, Australia and Japan
have developed a new genetically modified variety of rice with high contents of
iron and zinc.
March Tenders:
Syria's General
Foreign Trade Organization (GFTO) issued a tender to purchase 8,113 tons of white
long-grain rice of third class.
Egypt's state grain
buyer General Authority for Supply Commodities (GASC) has cancelled a tender to
purchase an unspecified amount of rice for delivery from April 20 to May 10,
2016.
South Korea will
purchase 408,700 MT of rice (milled basis) under the 2016 tariff rate quota
(TRQ) purchasing plan.
EU Imports 715,795 Tons of Rice in September 1, 2015 - March 29, 2016; Up
14% from Previous Year
Apr 06, 2016
According to the
latest data issued by the European Union (EU), rice imports by the EU nations
increased sharply since the beginning of the crop year 2015-16 (September 1,
2015 - August 31, 2016).
The EU imported about 715,795
tons of rice during the period September 1, 2015 - March 29, 2016, up about 14%
from around 629,352 tons imported during the same period last year.
Japonica rice imports
increased about 4% to around 55,689 tons in September 1, 2015 - March 29, 2016
period from around 53,389 tons during the same period last year. Indica rice
imports increased about 15% to around 660,106 tons during the said period from
around 575,963 tons last year.
The UK remained the
largest importer in September 1, 2015 - March 15, 2016 period with around
162,341 tons followed by France (120,320 tons), The Netherlands (83,707 tons),
Germany (56,346 tons), Italy (53,041 tons) and Poland (51,611 tons). Other EU
countries imported 188,429 tons.
During the week ended
March 29, 2016, the EU imported around 15,763 tons of rice, down about 25% from
around 20,911 tons imported during the week ended March 15, 2015.
The EU imported around
1.143 million tons of rice in the crop year 2014-15, up about 12.7% from around
1.013 million tons imported in the crop year 2013-14.
Egypt Cancels Tender to Buy Unspecified Quantity of Rice Due to High Prices
Apr 06, 2016
Egypt's state-run buyer
GASC has cancelled a tender to purchase unspecified quantity of rice today
after offers it received did not comply with its specifications or shipment
dates, Reuters quoted the Vice-Chairman of the GASC.
The GASC reportedly
issued a tender on April 5, 2016 to purchase at least 10,000 tons of rice for
delivery between May 1 - 20, 2016. The GASC was supposed to accept offers until
April 7, 2016.
The government is said
to have received two tenders for Indian rice, one for $350 per ton and another for
$390 per ton, of 10,000 tons of 5% broken rice.
This is the third rice
tender cancellation since the GASC decided to import rice as traders have been
unwilling to sell rice to the state in anticipation of higher prices.
The government noted
that it would seek direct contracts to buy rice from abroad if traders do not
reduce prices in its tender competitions. "We may resort to importing rice
directly should the high prices of rice being offered at tenders
continue," the Supply Minister was quoted.
However, traders noted
that the government was seeking unrealistic prices. "They might as well
ask for the rice for free if it's any cheaper. They won't find anyone to sell
directly to them," one Cairo-based trader was quoted.
Last week, Egypt
reinstated ban on rice exports to preserve stocks for the local market as well
as to control prices.
Egypt produced 3.75
million tons of rice in 2015 and carried over 700,000 tons of rice from 2014.
After accounting for consumption of 3.3 million tons, the country is said to
have a surplus of more than one million tons.
Global
Rice Quotes
April 7th, 2016
Long grain white rice - high quality
Thailand 100% B grade 380-390 ↔
Vietnam 5% broken 365-375 ↓
India 5% broken 370-380 ↔
Pakistan 5% broken 345-355 ↔
Myanmar 5% broken 415-425 ↔
Cambodia 5% broken 450-460 ↔
U.S. 4% broken 430-440
↔
Uruguay 5% broken 435-445 ↔
Argentina 5% broken 425-435 ↔
Long grain white rice - low quality
Thailand 25% broken 355-365 ↔
Vietnam 25% broken 355-365 ↔
Pakistan 25% broken 310-320 ↔
Cambodia 25% broken 430-440 ↔
India 25% broken 335-345 ↔
U.S. 15% broken (sacked) 470-480 ↔
Long grain parboiled rice
Thailand parboiled 100% stxd 370-380 ↔
Pakistan parboiled 5% broken stxd NQ ↔
India parboiled 5% broken stxd 345-355 ↔
U.S. parboiled 4% broken 480-490 ↔
Brazil parboiled 5% broken 490-510 ↔
Uruguay parboiled 5% broken NQ ↔
Long grain fragrant rice
Thailand Hommali 92% 665-675 ↔
Vietnam Jasmine 460-470 ↓
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 760-770 ↔
Brokens
Thailand A1 Super 330-340 ↔
Vietnam 100% broken 340-350 ↔
Pakistan 100% broken stxd 285-295 ↔
Cambodia A1 Super 345-355 ↔
India 100% broken stxd 270-280 ↔
Egypt medium grain brokens NQ ↔
U.S. pet food 315-325
↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Slightly
Lower as Market Sees Little in the Way of Bullish News; Wheat Falls on Improved
Crop Progress Report
Apr 07, 2016
Chicago rough rice
futures for May delivery settled 4.5 cents were cwt (about $1 per ton) lower at
$9.745 per cwt (about $215 per ton). The other grains finished the day with
mixed results; Soybeans closed about 0.4% higher at $9.0800 per bushel; wheat
finished about 2.3% lower at $4.6300 per bushel, and corn finished the day
about 0.4% higher at $3.5800 per bushel.
U.S. stocks traded
mostly higher Wednesday, helped by sharp gains in oil prices, after the
afternoon release of the Fed meeting minutes. The Federal Open Market Committee
minutes from the March 15 to 16 meeting were due at 2 p.m. ET. At that meeting,
the central bank kept rates unchanged and lowered its projections for the
number of hikes this year to two from four. Ahead of the Fed minutes release,
Cleveland Fed President Loretta Mester said she expects a gradual series of
interest rate hikes this year given recent U.S. economic strength. European
stocks ended more than half a percent higher. In Asia, the major averages were
narrowly mixed. The Nikkei 225 fell 0.11% for its first seven-day losing streak
since November 2012. The Shanghai composite also ended mildly lower while the
Hang Seng gained slightly. In early afternoon trade, the Dow Jones industrial
average rose 83 points, or 0.48%, to 17,686. The S&P 500 climbed 16 points,
or 0.78%, to 2,061, with health care and energy among the top gainers and
utilities lagging. The Nasdaq composite rose 58 points, or 1.21%, to 4,902.
Gold is seen trading about 0.5% lower, crude oil is seen trading about 4.7%
higher, and the U.S. dollar is seen trading about 0.3% lower at about
1:00pm Chicago time.
Tuesday, there were
1,830 contracts traded, up from 1,010 contracts traded on Monday. Open interest
– the number of contracts outstanding – on Tuesday decreased by 48 contracts to
13,013.
EU Exports 129,541 Tons of Rice in September 1, 2015 - March 29, 2016; Down
18% from Previous Year
Apr 06, 2016
According to the
latest export data issued by the European Union (EU) for the crop year 2015-16
(September 1, 2015 - August 31, 2016), the EU exported about 129,541 tons of
rice during the period September 1, 2015 - March 29, 2016, down about 18% from
around 157,979 tons exported during the same period last year.
Japonica rice exports
declined about 21% to around 107,638 tons in September 1, 2015 - March 29, 2016
period from around 135,825 tons during the same period last year. Indica rice
exports declined slightly to around 21,903 tons during the said period from
around 22,154 tons last year.
Italy remained the
largest exporter in September 1, 2015 - March 29, 2016 period with around
68,172 tons followed by Spain (17,719 tons), Greece (15,876 tons), and Portugal
(9,267 tons). Other EU countries imported 18,507 tons.
During the week ended
March 29, 2016, the EU exported around 2,952 tons of rice, down about 28% from
around 4,081 tons exported during the week ended March 15, 2016.
Oryza U.S. Rough Rice Recap - Market Unchanged as Traders Wait for IGB
Tender Results
The U.S. cash market
remained unchanged again today as both buyers and sellers wait to see the
results of the latest Iraqi tender which traders expect to see next Thursday.
The U.S. will likely
be the most expensive origin offered on this tender which greatly decreases the
chances of being awarded; however, if the Iraqi Grain Board needs the rice
in a timely manner then the likelihood of being awarded increases.
Analysts note that
without fresh demand from Iraq, Venezuela, or Colombia, U.S. prices will
continue to decline.
Policy Changes are Needed to Encourage Bangladesh Rice Farmers, Say Experts
Apr 06, 2016
Experts have expressed
concern that recently Bangladesh rice farmers are switching from rice production
to other crops such as maize, cotton and tobacco due to price 'deprivation'
during the harvest times, according to the Financial Express.
Farmers say they
received about Tk 600-650 per 40 kilograms of paddy in the 2015-16 Aman season
(July - December) against the production cost of around Tk 700 per maund. They
say profit from other crops was better than that from paddy.
According to the
Bangladesh Bureau of Statistics (BBS), paddy rice acreage declined by about
197,000 hectares in FY 2015-16 (July - June). Of this, Boro area itself
accounts for a decline of about 140,000 hectares. The bureau predicts that rice
production may decline in FY 2015-16.
The shift to other
crops was significant since last year, according to the data from the
Department of Agriculture Extension (DAE). The DAE data shows that tobacco
cultivation has expanded to 80,000 hectares of land in FY 2014-15 from 51,000
hectares in FY 2011-12; pulses cultivation has increased to 420,000 hectares in
2014-15 from 265,000 hectares in FY 2011-12; and lentil cultivation has
expanded to 250,000 hectares in FY 2014-15 from 189,000 in FY 2011-12.
Though some experts
opine that the development is beneficial from the 'opportunity cost' point of
view, some of them expressed concern over the food security in the country.
Senior Research Fellow
at local think tank Centre for Policy Dialogue told reporters that an increase
in 'opportunity cost' of rice farming means rice is becoming less profitable
than that of other alternatives. He noted that farming of cash crops could
bring changes in the socio-economic development of a farmer. "But rice
production always is a strategic crop and stakeholders should keep it in
mind," he said.
A renowned academician
noted that rice security is the key to food security of the country.
"Time-befitting export-import policy and setting of minimum support price
for rice farmers are needed to keep them in cultivation of the staple crop
which is inevitable for food security," he added.
USDA forecasts
Bangladesh’s MY 2015-16 (July 2015 – June 2016) milled rice production at
around 34.6 million tons, slightly up from an estimated 34.5 million tons in MY
2014-15. It forecasts Bangladesh to import around 600,000 tons of rice in MY
2015-16 from an estimated 1.2 million tons in MY 2014-15.
Thailand Exports 1.86 Million Tons of Rice in First Two Months of 2016; Up
39% from Previous Year
Apr 06, 2016
Thailand exported
around 1.86 million tons of rice in the first two months of 2016 (January -
February), up about 39% from around 1.34 million tons exported during the same
period last year, according to data from Thai Rice Exporters Association
(TREA). In value terms, Thailand rice exports earned around $812 million in the
two-month period, up about 15% from around $706 million earned during the same
period last year.
In February 2016,
Thailand exported around 835,861 tons, down about 18% from around 1.025 million
tons in January 2016 and up about 14% from around 732,151 tons in February 2015.
In value terms, Thai rice exports earned around $375 million, down about 14%
from around $436 million in January 2016 and up about 1% from around $370
million in February 2015.
During the month,
white rice exports accounted for around 438,902 tons (about 53% of total
February 2016 exports), Hom Mali rice exports accounted for about 125,335 tons
(about 22% of total February 2016 exports), brokens accounted for 120,230 tons
(about 14% of total February 2016 exports), glutinous variety accounted for 12,591
tons (about 2% of total February 2016 exports), parboiled rice accounted for
about 133,156 tons (about 16% of total February 2016 exports) and husked/brown
rice accounted for about 5,647 tons (about 0.56% of total February 2016
exports).
Average export prices
of all varieties of rice, except the husked rice, increased or remained stable
during the month.
Thailand exported
around 9.795 million tons of rice in 2015, down about 11% from around 10.969
million tons exported during the same period last year.
Pakistan Rice Sellers Increase Some their Quotes Today; Other Asia Rice
Quotes Unchanged
Apr 06, 2016
Pakistan rice sellers increased
their quotes for 5% broken rice by about $5 per ton to around $345-$355 per ton
today. Vietnam and India rice sellers kept their quotes unchanged. Thailand
rice sellers are out today due to a
holiday.
5% Broken Rice
Thailand 5% rice was last
indicated at around $370 - $380 per ton, on par with Vietnam 5% rice shown at
around $370 - $380 per ton. India 5% rice is indicated at around $370 - $380
per ton, about $25 per ton premium on Pakistan 5% rice shown at around $345 -
$355 per ton.
25% Broken
Rice
Thailand 25% rice was
last indicated at around $355 - $365 per ton, on par with Vietnam 25% rice
shown at around $355- $65 per ton. India 25% rice is indicated at around $335-
$345 per ton, about $25 per ton premium on Pakistan 25% rice shown at around
$310 - $320 per ton.
Parboiled
Rice
Thailand parboiled
rice was last 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 was last indicated at around $330 - $340 per ton, about $10 per ton
discount to Vietnam 100% broken rice shown at around $340 - $350 per ton.
India's 100% broken rice is shown at around $270 - $280 per ton, about $15 per
ton discount to Pakistan broken sortexed rice shown at around $285 - $295 per
ton.
