Monday, February 29, 2016

29TH FEBRUARY 2016 DAILY GLOBAL RICE E-NEWSLETTER BY RICEPLUS MAGAZINE

Today Rice News Headlines...
·         Cuba keen to enhance bilateral trade with Pakistan
·         PAKISTAN’S FOOD, BEVERAGES AND AGRO-SECTOR EXPORTS TO EMIRATES WITNESS A 27PC JUMP IN TWO YEARS: TDAP
·         Top Indian rice exporter aims to boost operations in GCC
·         IIT-M grads working abroad drop to 20%, shows alumni survey
·         Falling Rice Price Taking a Toll on Exporters
·         Government pushes out long term rice strategy
·         USA Rice Hosts First World Market Price Meeting of 2016 
·         USA Rice Participates in World's Largest Annual Food & Hospitality Show 
·         Villain' shrub may yield drought-resistant rice
·         Thailand plans steps worth $285 million to help drought-hit rice farmers
·         US, China agree on UN North Korea resolution
·         Local rice demand pushes price of imported rice down
·         Tribal woman inspires farming community
·         Arkansas Farm Bureau Daily Commodity Report
·         APEDA AgriExchange Newsletter - Volume 1422
News Detail...
Cuba keen to enhance bilateral trade with Pakistan February 24, 2016, 8:41 pm
ISLAMABAD: Mr. Gabriel Tiel Capote, Ambassador of Republic of Cuba said that his country was keen to enhance trade relations with Pakistan as both countries have good potential to promote mutual cooperation in many areas. He said Pakistan could export textiles, fabrics, rice, surgical instruments, and leather & sports goods to Cuba while Cuba could export its biotechnological and pharmaceutical products to Pakistan. He expressed these views during his first interaction with business community at Islamabad Chamber of Commerce and Industry.
He said both countries could achieve mutually beneficial outcomes by enhancing cooperation in health, education, culture and sports fields as well. 

29TH FEBRUARY 2016 DAILY EXCLUSIVE ORYZA RICE E-NEWSLETTER BY RICEPLUS MAGAZINE

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.