Monday, April 11, 2016

11th April,2016 daily global,regional and local rice e-newsletter by riceplus magazine

Today Rice News Headlines...

·        Traders eye 30pc increase in rice exports to Iran

·        UNISAME CALLS FOR JOINT EFFORTS TO ENHANCE BASMATI EXPORTS

·         The white rice you want, with half of the calories

·         Thai rice officials visit IRRI; stronger partnership afoot

·         Scientists developing more efficient rice using maize genes

·         Indian feast planned for royal couple William and Kate

·         Grain man: Yotam Ottolenghi’s recipes for rice suppers

·         Shahi Korma To Sharifa Kulfi, 'Desi' Delights For Royal Couple At Gala Dinner

News Detail...
Traders eye 30pc increase in rice exports to Iran

April 09, 2016

KARACHI: Pakistani traders eye an increase of at least 30 percent in export of aromatic Basmati rice to Iran and a delegation will visit the country later this month to seek more opportunities following the lifting of international sanctions, industry officials said on Friday.Iran, one of the world’s biggest rice importers, annually imports more than two billion dollars of the commodity.  Pakistan has a modicum share in the neighbouring market. The country exported 2,234 tons of rice to Iran in the last fiscal year, fetching around $1.32 million.  
“We see rice exports to up 20 to 30 percent,” Chairman Muhammad Shafique of the Rice Exporters Association (Reap) told The News. “The efforts are underway from both the sides to resolve the issues,” Shafique said. The resolution of the issues will help Pakistan break a long-standing monopoly of Indian aromatic rice in Iran, he added.“We are eager to regain our lost share of basmati rice to India.”   In the past few years, India has flooded the Iranian market with its basmati rice at knockdown prices.     
Reap will take a 26-meber delegation, comprising of rice traders to Iran on April 22 to discuss the issues related to the condition of good manufacturing practices certification with Iranian authorities.
Shafique said talks will also cover a subject, such as opening of letter of credit in Euro.   The delegation will also meet the office bearers of the Iran’s main business association.   Rice exporters met with the Iranian traders when Iranian President Hassan Rouhani visited Islamabad on March 25.
Exporters are anxiously waiting for the banks to accept letter of credits from Iranian buyers and the facility of discounting of bills drawn on Iranian buyers. The State Bank of Pakistan has already advised Pakistani banks to take necessary measures for establishing correspondent banking relationship with Iranian banks.
“At present, all the Pakistani banks are conducting their own analysis and due diligence on Iranian banks and are in touch with the SBP for the guidance,” said a senior banker at the National Bank of Pakistan

UNISAME CALLS FOR JOINT EFFORTS TO ENHANCE BASMATI EXPORTS
The Union of Small and Medium Enterprises (UNISAME) has given a road map to the Ministry of Commerce (MINCOM) for the revival of the basmati rice industry on fast track basis.President UNISAME Zulfikar Thaver said the first step to enhance basmati rice exports would be to facilitate the rice exporters to export to third world countries by financing trade with third world countries by insuring the transaction risk through export credit guarantee insurance. This will make the commercial banks comfortable in financing the rice exporters.Secondly a currency swap agreement with Iran is very essential for smooth exports to Iran. This will enable Iran to buy basmati rice from Pakistan again.Thirdly warehousing facilities for goods in many countries are needed for enhancing exports.Fourthly it is important that Pakiatani basmati rice exporters have regular basmati festivals in Europe, Latin American countries and U.S.A.
Pakistani basmati rice is no where seen on the super market shelves in these countries, all that one sees is Indian basmati brands. Pakiatani brands need aggressive marketing with free gifts, and one plus one marketing schemes.Fifthly the government needs to remove import duties on packing material of rice.Sixthly the withholding tax on export of rice must be reduced to quarter percent and export development surcharge be removed fully.The government needs to promote Pakistani basmati rice features of aroma, length and look, superior taste and it’s recognition of world’s number one rice because our super basmati rice is the rice used for banquets by the royal families.
UNISAME also called upon the Small and Medium Enterprises Development Authority (SMEDA) to upgrade the rice industry and improve the supply chain from the primary sector to exports.The Intellectual Property Organization (IPO) needs to convene a meeting of stakeholders for the solution of the Geographical Indications (GI) and the Trade Marks Registrar (TMR) intervention is also required to settle the issues of GI and TM without loss of time to overcome the erroneous findings of the Indian forum.

The white rice you want, with half of the calories

April 10, 2016   

By Anaïs Bailly-Mompoint, LMSW
Rice/du riz/diri/arroz! Whichever your reference, it is as important as bread and water in terms of consumption in many communities, including Caribbean natives, descendants, and immigrants. Rice is enjoyed by more than half of the 7 billion of people around the world and is a staple in many cuisines. In fact, some—Haitian men included—do not consider a meal complete without a side of rice. Yet, most of the trendy western world diets advise either consuming less rice, replacing it by brown rice or banishing it from our meals altogether.  One of the arguments used is that white rice consumption is linked to a higher risk of diabetes and obesity. Allow me to speak on behalf of Haitians and Haitian food lovers everywhere, but while that brown rice may be somewhat alright with Legumes during your dieting, it will not go well with that sờs pwa (beans in gravy) under any circumstance!
 Trust me, I’ve tried it! So what if I told you that you can enjoy thatLong Grain Madame Gougousse Jasmine Rice (or any of your favorite brands) in a healthier way with just a simple trick? Indeed, scientists at the College of Chemical Sciences in Sri Lanka have uncovered a way for the calories in rice to be cut in half based on how you prepare it. Research team leader, Sudhair A. James states, “if the best rice variety is processed, it might reduce the calories by about 50-60 percent.” For those who must have rice multiple times a week and still want less inches around the waist, this is more than great news!
Before I tell you the secret let’s address the science. Rice is filled with starch which converts into glucose and later the excess that is unused by the body becomes fat. Yes, the fat that contently sits at your midsection making you unbutton those jeans after dinner. James explains the composition of the rice can be altered during a simple regimen. OK, I’ll stop teasing and tell you what it is: Coconut oil! Add that to the endless list of the “good-for-you” things this super food can do! Here are the steps: first, start by washing the rice only once. This helps remove the excess starch that’s been accumulating in the sac/bag without stripping away all the other minerals and vitamins. To name a few these include, magnesium, phosphorous, niacin, manganese, selenium, thiamine, folic acid and iron.
We’re still talking about white rice here in case you’re having a moment of disbelief. Second, bring 2 cups of water to a boil and 1 tablespoon of coconut oil for every cup of rice (go easy on the salt). Next, forget what you’ve seen the matriarch in your family do and skip that plastic bag to cover the rice. I mean it, leave it for what it was intended to—recycle! Simply use a tight lid (or if you can’t quite find the cover to your favorite pot, use some aluminum foil and any lid) to ensure a proper steam of 20 minutes. Without getting tempted to eat right away, place the rice in the fridge to cool for 12 hours. Finally, reheat and enjoy!
That last part may have taken you aback for a second. I know it did for me, as I enjoy fresh out of the pot, steaming rice. So back to the science aspect. James explains “the cooling is essential because amylose, the soluble part of the starch, leaves the granules during gelatinization.” He further explains that “cooling for 12 hours will lead to formation of hydrogen bonds between the amylose molecules outside the rice grains which also turns it into a resistant starch (RS).” Reheating the rice after cooling it does not impact the RS levels notes the research. So if you’re like my husband who sees no point of making rice without having gratin—(pot-bottom as commonly referred to by our Caribbean neighbors or the slightly burnt and crispy part of the rice found at the bottom of the pot)—you can certainly enjoy the reheating process as it means even more of that salty crispy goodness!
So at your next rice-making session (which I know will be sooner than later), try it out and let me know. The added aroma and taste from the coconut oil is unmatched. You’ll rest assured that your bowl of rice is not only delicious, but it’s more nutritious. Voila, with a simple trick, you’ve joined me on the journey of enjoying life one better decision at a time
http://haitiantimes.com/the-white-rice-you-want-with-half-of-the-calories-14541/

Thai rice officials visit IRRI; stronger partnership afoot


April 10, 2016
A delegation dispatched by the Royal Government of Thailand visited the International Rice Research Institute (IRRI) in Los Baños, Laguna is aiming for a stronger partnership. riceIn an email to the Manila Bulletin recently, the IRRI said the Royal Government of Thailand is strengthening its research and development (R&D) ties with the agency.It was learned that Dr. Anan Suwannarat, director general of the Rice Department of the Ministry of Agriculture and Cooperatives (MOAC) of Thailand led the group that included senior officers of Thai RD (TRD).
The two parties have been holding a series of meetings aimed at further fleshing out the collaboration of their scientists as they discussed the implementation of new set of collaborative research programs for Thailand supported by the Thai government.IRRI Director General Matthew Morrell noted the Thai government is undertaking efforts to maintain its standing in the world rice market in the face of climate change and competition.
“Thailand is a top exporter of rice globally and the government is intent on sustaining the competitiveness of Thai rice in the global market, particularly in the face of climate change and growing competition from other major rice producers such as India, Vietnam, and Myanmar,” Morrell said.As latest as last month in Bangkok, Thailand, in one of their meetings, the TRD and IRRI identified the priority areas for new programs, such as climate change, in particular drought and water-use efficiency research; upgrading of the Thai Rice Knowledge Bank; and grain quality.Covered by the two parties’ linkage is a scientific exchange activities for 2016.Scientists from IRRI will provide assistance on the identified priority areas.
On the other hand, scientists from Thailand will be coming over to IRRI to build their capacity on mechanization, pheno-typing, breeding for salinity and heat tolerance, gene bank development, and training course development.Bruce Tolentino, IRRI deputy director general, recalled that Thailand learned a lot from IRRI for the last 50 years.“The Thai rice sector has benefited tremendously from advances in rice technology originating from the IRRI research over the last five decades,” he said.
Tolentino said the collaboration between Thailand and IRRI is continuing as they try “to meet the challenges” of ASEAN 2015 and climate change.He was obviously referring to the ASEAN Economic Community (AEC) 2015, which integrated economically the 10 members of the Association of Southeast Asian Nations (ASEAN) into a single market starting on Dec. 31, 2015.Part of the Thai visitors’ itinerary is a tour of IRRI’s new phenotyping facility, the Department of Agriculture (DA) to learn more the seed system of the Philippine Rice Research Institute (DA-PhilRice)
Scientists developing more efficient rice using maize genes
April 11, 2016 11:56am
PETER HEMPHILLThe Weekly Times
THE next Green Revolution is expected to produce rice and wheat crops which are 50 per cent more productive using genes from “C4” plants, such as maize.In a project funded by the Bill and Melinda Gates Foundation, a global scientific team is six years into a research program to develop more productive rice varieties by supercharging them with genes from maize plants using genetic modification techniques to substantially increase their photosynthetic ability.
C4 plants — which include maize, sugar and sorghum — are better able to produce crops in warmer and drier climates than plants using the more common “C3” pathway of photosynthesis, according to Bob Furbank, ARC Centre for Excellence in Translational Photosynthesis director at Australian National University in Canberra,C3 plants include wheat, cotton, barley, pulse and vegetable crops and timber trees
Professor Furbank said maize could produce 50 per cent more yield than rice with the same amount of water, light, temperature and carbon dioxide in the air.“In the situation where we are in at the moment where globally we need to increase food production by about 70 per cent over the next 30 to 40 years to feed the burgeoning population, C4 plants and the C4 photosynthetic pathway have gained considerable attention in recent times.

Indian feast planned for royal couple William and Kate
The royal couple, who are staying at The Taj Mahal Palace hotel while they are here, will be served a mix of non-vegetarian and vegetarian authentic Indian delicacies.
By: IANS | Mumbai | Updated: April 10, 2016 7:56 pm
In the non-vegetarian menu, the royal couple can relish ajwaini macchli, kundan kalia and shahi murg ka soyota; Dodha with rabdi, chhenna payesh and sharifa kulfi are planned as dessert. (Source: PTI)
Prince William and Kate Middleton, the Duke and Duchess of Cambridge, who commenced their maiden visit to India from here on Sunday, will get a whiff of ‘desi’ flavours and aromas as a lavish Indian feast will be laid in front of them for dinner.The royal couple, who are staying at The Taj Mahal Palace hotel while they are here, will be served a mix of non-vegetarian and vegetarian authentic Indian delicacies.In the non-vegetarian menu, they can relish ajwaini macchli (fish chunks marinated with hung yoghurt and bishops weed, charbroiled in tandoor), kundan kalia (boneless lamb cooked with spices and topped with gold varq) and shahi murg ka soyota (chicken morsels cooked in a rich saffron, cashew and corn-based gravy).From the vegetarian section, they can also opt for dal langarwali (black urad and channa dal cooked to perfection tempered with pure ghee) and paneer shahi korma (cottage cheese cooked with cashew and evaporated milk — a lakhnavi delicacy).
Other vegetarian delicacies are also planned, including subz gandheri kebab (blend of vegetables on a sugarcane stick, a specialty of Hyderabad), khumb makhana mattar (mushrooms, peas and fox nuts, cooked in rich tomato gravy), chhonka palak (spinach tempered with garlic, finished with dried fenugreek leaves).
As accompaniments, they will be served awadhi gosht biryani, boondi and fresh mint raita, Indian crudités, cone papad, pickle, chutney and kachumber to be complemented with assorted mini Indian breads, Lucknowi vegetarian biryani (basmati rice and vegetables cooked together with panadanus extract).With an aim to end the meal on a sweet note, dodha with rabdi, chhenna payesh and sharifa kulfi are planned as dessert.The Taj Mahal Palace here is also the venue for a charity reception, which will be attended by the royal couple.
The event is being held collectively by three charity organisations — Magic Bus, Doorstep, and India’s Childline — to generate funds to support vulnerable children across India.The event is expected to be attended by celebrated names like Shah Rukh Khan,Aamir Khan, Rishi Kapoor and Aishwarya Rai Bachchan.Taljinder Singh, area director Mumbai and general manager, The Taj Mahal Palace, Mumbai, said he is delighted to play host to the royal couple.

“The Taj Mahal Palace is delighted to be hosting their Royal Highnesses The Duke and Duchess of Cambridge while they are in Mumbai, and to be delivering this special event.“It is an absolute pleasure to be part of the Royal Highnesses’ commitment to raise funds for organisations working with children, as well as to introduce them to the veterans of the Indian entertainment industry,” Singh said in a statement.Singh added: “The hotel is working towards making their visit to India memorable by offering Taj’s legendary Indian hospitality.”On their tour, the royal couple will also attend a lunch hosted by Prime MinisterNarendra Modi in New Delhi on Tuesday, visit Kaziranga National Park in Assam, take a break for a trip to Bhutan, and return to Agra in Uttar Pradesh to view the Taj Mahal.

Grain man: Yotam Ottolenghi’s recipes for rice suppers
There’s no great skill needed to cook rice properly – other than choosing the right rice for the job in the first place
Yotam Ottolenghi’s saffron and broad bean paella. Food styling: Emily Kydd. Prop styling: Jennifer Kay. Photograph: Louise Hagger for the Guardian
Inever understood why people are intimidated by cooking rice – until I started reading up on it. The more you read, the more you learn how many varieties there are (more than 40,000!), not to mention all the categories and sub-categories within them. The way to cook rice, then, varies according to texture, size, shape, colour and purpose. The fact that many people swear by a rice cooker suddenly makes a lot of sense.
To hugely simplify a complicated (paddy) field, I usually reach for long- or short-grained rice. Long-grained rice (of which basmati is one) has less starch than short-grained (sushi and paella rice being two), so will be quite light and fluffy once cooked, with each grain distinct.
The difference between brown and white basmati rice, meanwhile, is that the brown still has its outer hull and bran. The result is therefore chewier and nuttier than the hulled, white sort; and, because there’s more for the water to get through to cook the rice, it takes longer. But what brown rice requires in patience is more than made up for by the fact you don’t have to get the amount of water exactly right: you cook brown rice much as you do pasta – ie, in lots of boiling water.
When it comes to the short-grained rice in today’s saffron and broad bean dish, it’s worth investing in proper paella rice: look for the words “bomba” or “calasparra” on the packet, because they have the texture you’re after – firm yet giving, unlike risotto and other short-grain rice.
As long as you’ve got the right rice, you’re free to take liberties wiuth the other ingredients, as I’ve done here.

Saffron and broad bean paella

This is by no means a traditional paella in terms of ingredients – there’s no chicken, rabbit or snails; no seafood, either – but the cooking method is. The key to a paella is to simmer the rice uncovered and, crucially, to resist the urge to stir it, so it absorbs all the liquid. If the base develops a nice, crisp bottom, all the better: that’s the bit prized by aficionados. This serves four as a side dish or, with a salad, light meal; or bulk it out with grilled seafood or chorizo, as a nod to tradition.
300g podded broad beans (fresh or frozen)
2 tbsp olive oil
1 onion, peeled and roughly chopped 
2 garlic cloves, peeled and thinly sliced
1 tsp sweet smoked paprika
¼ tsp saffron threads
2 tbsp fresh thyme leaves
200g paella rice
100ml dry sherry
500ml vegetable stock
150g cherry tomatoes, cut in half
3 strips finely shaved lemon skin, plus 2 tsp lemon juice
Salt and black pepper
10g flatleaf parsley leaves, roughly chopped
Bring a small saucepan of salted water to a boil, blanch the beans for a minute, then drain, refresh and remove and discard the papery skins.
Heat the oil in a large saute pan (or paella pan) on a medium-high flame. Fry the onion for seven to eight minutes, stirring occasionally, until soft and caramelised, then add the garlic and fry for a minute. Add the paprika, saffron, thyme and rice, stir for a minute, to coat all the rice, then add the sherry and reduce for 30 seconds. Stir in the stock, 150ml water, the tomatoes, lemon skin, a teaspoon of salt and plenty of pepper, bring to a boil, then turn down the heat to medium. Simmer for 20-25 minutes – don’t stir! – until the liquid is absorbed and the rice cooked. Lift out and discard the lemon strips, spoon the broad beans on top of the rice, scatter on the parsley, drizzle with lemon juice and serve at once.

Basmati rice with black cardamom and caramelised onion

This is a lovely side for slow-cooked lamb or any tagine. Serves four.
300g basmati rice
6 black cardamom pods (or 10 green cardamom pods), lightly crushed
2 bay leaves
20g unsalted butter
Salt
1 tbsp olive oil
1 onion, peeled and thinly sliced
4cm piece fresh ginger, peeled and cut into julienne sticks
¼ tsp ground cinnamon
1 tsp honey
40g toasted flaked almonds
Heat the oven to 220C/425F/gas mark 7. Spread out the rice in a high-sided, 20cm x 30cm baking tray.
Put the cardamom, bay, butter and half a teaspoon of salt in a small saucepan. Add 550ml water and bring to a boil. Tip the water over the rice in the tray, and cover tightly with aluminum foil, to seal. Bake for 25 minutes, then set aside, still covered, for 10 minutes. Take off the foil and stir the rice with a fork.
While the rice is cooking, heat the oil in a frying pan on a medium-high flame. Fry the onion for six minutes, stirring a few times, until golden brown, then add the ginger and fry for two minutes. Add the cinnamon and honey, turn the heat to medium-low and cook gently, stirring often, for five minutes, until the onions go dark caramel in colour. Stir in the nuts, spoon on to the rice and serve.

Minty brown rice with wilted greens

http://www.theguardian.com/lifeandstyle/2016/apr/09/rice-recipes-yotam-ottolenghi-clay-pot-sticky-paella-basmati-stir-fry

Shahi Korma To Sharifa Kulfi, 'Desi' Delights For Royal Couple At Gala Dinner

Updated: April 10, 2016 20:57 IST
The royal couple, who are staying at The Taj Mahal Palace hotel, will be served a mix of non-vegetarian and vegetarian authentic Indian delicacies.
MUMBAI: 

HIGHLIGHTS

1.      Authentic Indian delicacies on the menu for Duke and Duchess of Cambridge
2.      Royal couple to attend a charity reception with star-studded guest list
3.      This is their first official visit to India
 The Duke and Duchess of Cambridge who commenced their maiden visit to India today, will get a whiff of 'desi' flavours and aromas as a lavish Indian feast will be laid in front of them for dinner.

The royal couple, who are staying at The Taj Mahal Palace hotel, will be served a mix of non-vegetarian and vegetarian authentic Indian delicacies.

In the non-vegetarian menu, they will be served ajwaini macchli (fish chunks marinated with hung yoghurt and bishops weed, charbroiled in tandoor), kundan kalia (boneless lamb cooked with spices and topped with gold varq) and shahi murg ka soyota (chicken morsels cooked in a rich saffron, cashew and corn-based gravy).

From the vegetarian section, they can also opt for dal langarwali (black urad and channa dal cooked to perfection tempered with pure ghee) and paneer shahi korma (cottage cheese cooked with cashew and evaporated milk -- a lakhnavi delicacy).
 

Other vegetarian delicacies are also planned, including subz gandheri kebab (blend of vegetables on a sugarcane stick, a specialty of Hyderabad), khumb makhana mattar (mushrooms, peas and fox nuts, cooked in rich tomato gravy), chhonka palak (spinach tempered with garlic, finished with dried fenugreek leaves).

As accompaniments, they will be served awadhi gosht biryani, boondi and fresh mint raita, Indian crud, cone papad, pickle, chutney and kachumber to be complemented with assorted mini Indian breads, Lucknowi vegetarian biryani (basmati rice and vegetables cooked together with panadanus extract).
In desserts, dodha with rabdi, chhenna payesh and sharifa kulfi are planned for the gala dinner.The Taj Mahal Palace is also the venue for a charity reception, which will be attended by the royal couple.

The event is being held collectively by three charity organisations -- Magic Bus, Doorstep, and India's Childline -- to generate funds to support vulnerable children across India.The event is expected to be attended by celebrated names like Shah Rukh Khan, Aamir Khan, Rishi Kapoor and Aishwarya Rai Bachchan.Taljinder Singh, area director Mumbai and general manager, The Taj Mahal Palace, Mumbai, said he is delighted to play host to the royal couple.

"The Taj Mahal Palace is delighted to be hosting their Royal Highnesses The Duke and Duchess of Cambridge while they are in Mumbai, and to be delivering this special event."It is an absolute pleasure to be part of the Royal Highnesses' commitment to raise funds for organisations working with children, as well as to introduce them to the veterans of the Indian entertainment industry," Mr Singh said in a statement.

Mr Singh added: "The hotel is working towards making their visit to India memorable by offering Taj's legendary Indian hospitality."On their tour, the royal couple will also attend a lunch hosted by Prime Minister Narendra Modi in New Delhi on Tuesday, visit Kaziranga National Park in Assam, take a break for a trip to Bhutan, and return to Agra in Uttar Pradesh to view the Taj Mahal

11th April,2016 daily exclusive oryza rice enewsletter by riceplus magazine

Iraq Seeks to Buy At Least 30,000 Tons of Rice in Tenders
Apr 08, 2016
Iraq is seeking to buy at least 30,000 tons of rice in tenders from the U.S., Uruguay or Argentina for delivery in May/June 2016, Reuters quoted European Traders
The closing date for the tender is reportedly April 12, 2016.
Brazil Exports 311,565 Tons of Rice in First Three Months of 2016, Up 19% from Previous Year
Apr 08, 2016


Brazil exported around 311,565 tons of rice in the first three months of 2016, up about 19% from around 262,471 tons exported during the same period in 2015, according to data released by the Rice Institute of Rio Grande do Sul (IRGA).
In March 2016, Brazil exported around 140,814 tons of rice, up about 89% from around 74,701 tons in February 2016 and slightly down from around 142,643 tons exported in March 2015.
Venezuela remained the largest importer of Brazilian rice in March 2016 with around 59,990 tons, or about 43% of Brazil's total rice exports during the month. Cuba accounted for around 44,778 tons (about 32% of Brazil's total rice exports during the month); and Senegal accounted for around 8,415 tons (about 6% of Brazil's total rice exports during the month).
U.S. (2,418 tons), Peru (614 tons), Switzerland (147 tons), Bolivia (4,125 tons), Belgium (3,073 tons), Angola (1,765 tons), Holland (1,523 tons), Chile (610 tons), Saudi Arabia (1,835 tons), Gambia (735 tons), Cape Verde (1,180 tons), Costa Rica (625 tons) and others (8,981 tons) accounted for remaining 19% of the exports during the month.
Third Rice Crop May Lead to Increased Drought and Salinity in Vietnam, Warn Experts
Apr 08, 2016
Experts have criticized the Vietnamese government's plan to expand the acreage of 2016 autumn-winter rice crop, or third rice crop, in the Mekong Delta as it could lead to higher drought and salinity in the region in the coming years, according to Vietnam Breaking News.
The Department of Cultivation, the Ministry of Agriculture and Rural Development, is planning to increase the third rice crop area in the Delta to around 900,300 hectares from around 843,140 hectares last year. Planting for the third rice crop will begin in July or early August. The Department is expecting the output from the crop to increase about 8% to around 4.9 million tons from around 4.54 million tons last year.
Experts say that the decision would worsen drought and salinity in the coming years because the construction of closed dikes to retain water for the third crop is likely to severely impact the storage capacity in the Mekong Delta during the flooding season. They say that the three natural reservoirs on the Mekong river - the Tonle Sap Lake in Cambodia and Vietnam’s Dong Thap Muoi (the Plain of Reeds) and Long Xuyen Quadrangle - regulate water flows of the river, store water to ease floods in the wet season and release water into the Tien and Hau rivers to help reduce salinity in coastal areas during the dry season.
However, they say too much construction of dikes during the third rice crops in the previous years has severely impacted water storage in the Dong Thap Muoi and Long Xuyen Quadrangle reservoirs. As a result, more floodong is likely to hit the areas outside the dikes in the flooding season, while drought and saltwater intrusion are likely to worsen in the dry season, they add.
Therefore, experts have suggested that relevant agencies should find ways to slove the drought and salinity problems caused by the third crop in the previous years rather than planning to increase the third crop acreage.
They reiterated that around 180,000 tons of paddy of the 2015-16 winter-spring crop has been damaged by drought and salinity.
Separately, the Director of the Rice Research Institute noted that the authorities are planning to restore the loss from the winter-spring crop by increasing the acreage of the autumn-winter crop so as to ensure that exports are not impacted.
Oryza Weekly: Bulls Hope New Demand from Philippines Lifts Rice Prices
Apr 09, 2016

The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes, ended the week at about $384 per ton, down about $2 per ton from a week ago, down about $3 per ton from a month ago and down about $28 per ton from a year ago.
In its April 2016 Grain Market Report, the International Grains Council forecasts 2016-17 global rice production at around 485 million tons, an increase of about 2.5% from the previous year, due to improved Asian production.  The IGC forecasts 2016-17 global rice trade at around 42 million tons, unchanged from last year, and it forecasts 2016-17 global rice consumption to increase about 1% from last year.  The IGC forecasts global rice ending stocks at around 93 million tons in 2016-17, about 4% less than last year due to higher food use in most countries.
Markets were risk friendly today but analysts project gloom and doom further out. Gold prices increased today on a weaker U.S. dollar. Crude oil prices surged, resulting in huge losses for investors shorting the market.  U.S. stocks closed slightly higher but posted the worst weekly loss since February.  Some analysts say there are signs of pending market trouble ahead and that things have topped out for now: investors are the most bullish since June; emergying market debt saw the largest weekly inflow since 2014; investors are buying junk bonds and selling safe haven assets; and earnings have declined for the third straigh quarter.
Thailand
Thailand 5% broken rice is today quoted at about $375 per ton, up about $5 per ton from a week ago, up about $10 per ton from a month ago and down about $15 per ton from a year ago.
The government has shortlisted bids from fourteen companies for about 418,000 tons of food-grade rice and bids from six companies for about 98,723 tons of industrial-grade rice in the second auction of this year.
The Agriculture Ministry anticipates the water crisis resulting from drought 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.
India
India 5% broken rice is today quoted at about $375 per ton, unchanged from a week ago, up about $5 per ton from a month ago, and down about $5 per ton from a year ago.
A report by a private Indian research agency forecasts the revival of the country’s basmati rice sector in the second half of FY 2016-17.
Wholesale basmati rice prices in the national capital increased Tuesday, owing to increased buying for stockpiling against restricted supplies from producing regions.
A long-range weather forecast by a private Indian climate management company predicts that monsoon this year may be 5-10% above normal and well-distributed across the country, after two consecutive years of drought.
Drought in India's southern states is likely to impact output from the 2015-16 rabi rice crop (November - May), say experts.
Vietnam
Vietnam 5% broken rice is today quoted at about $370 per ton, down about $10 per ton from a week ago, down about $5 per ton from a month ago and up about $5 per ton from a year ago.
During the first three months of 2016, Vietnam exported 1.426 million tons of rice, up about 58% from during the same period last year.  The average rice export price so far this year is around $405 per ton (FOB), about 7% less than the same time last year.
During the period March 15 – April 2, rice exporters shipped about 64,000 tons of rice from Saigon port.
Experts have criticized the Vietnamese government's plan to expand the acreage of 2016 autumn-winter rice crop, or third rice crop, in the Mekong Delta as it could lead to higher drought and salinity in the region in the coming years, according to Vietnam Breaking News.
Cambodia & Myanmar
Cambodia 5% broken rice is today quoted at about $455 per ton, unchanged from a week ago, up about $40 per ton from a month ago and up about $15 per ton from a year ago. The government of Cambodia has removed the current value-added tax (VAT) of 10% on milling machines as part of effort to support the rice millers,
Myanmar 5% broken rice is today quoted at about $420 per ton, unchanged from a week ago, down about $5 per ton from a month ago, and up about $5 per ton from a year ago.
Pakistan
Pakistan 5% broken rice is today quoted at about $350 per ton, up about $5 per ton from a week ago, up about $10 per ton from a month ago and down about $15 per ton from a year ago.
The governments of Pakistan and Iran have agreed to sign a free trade agreement which would boost bilateral trade between the two countries.
The USDA Post forecasts Pakistan's MY 2015-16 rice exports at around 4.2 million tons, up about 5% from around 4 million tons last year and down from the USDA's official estimates of around 4.6 million tons.
Central & South America
Five percent broken rice from Uruguay and Argentina is today quoted at about $430 per ton, unchanged from a week ago, down about $10 per ton from a  month ago and down about $145 per ton from a year ago. The USDA Post forecasts Argentina's total rice exports in MY 2016-17 at 550,000 tons, up about 10% from around 500,000 tons last year.
Brazil exported around 311,565 tons of rice in the first three months of 2016, up about 19% from around 262,471 tons exported during the same period in 2015.
USDA Post forecasts Dominican Republic's paddy rice production to decline about 6% to around 806,000 tons (around 540,000 tons, basis milled) in MY 2015-16 (July 2015 - July 2016) from around 861,000 tons (around 577,000 tons, basis milled) in the previous year due to an expected decline in paddy rice acreage.
U.S.
U.S. 4% broken rice is today quoted at about $435 per ton, down about $10 per ton from a week ago, down about $25 per ton from a  month ago and down about $50 per ton from a year ago.
Chicago rough rice futures for May delivery bounced slightly higher this week, reaching the weekly high of $9.970 per cwt (about $219.80 per ton) on Friday but failing to break the $10.000 per cwt (about $220.46 per ton) threshold this week.
The U.S. cash market was steady this week, firming up slightly later in the week on news that the U.S. may receive a portion of the Iraqi tender.
Other Markets
The European Commission, the European Parliament, and the EU member states are discussing plans to regulate the organic farming sector as demand for organic products has been increasing.
The European Commission has postponed the much-awaited legal analysis on whether new plant breeding techniques should be considered as genetically modified organisms.
The EU’s rice imports from Least Developed Countries of Asia, such as Cambodia and Myanmar, under the Everything But Arms Agreement have reached about 217,174 tons in the first seven months of crop year 2015-16 (September-March), about 30% more than during the same period last year.
The USDA Post forecasts the EU MY 2015-16 milled rice production at around 2.055 million tons, up from around 1.963 million tons and up from the USDA's official estimates of around 2.005 million tons.
The government of Indonesia plans to export about 100,000 tons of rice to ten different countries, including Malaysia, Singapore, and Brunei Darussalam, this year in efforts to increase farm commodity exports.
During the period September 1 – March 29, Italy exported 67,654 tons of milled rice, about 18% less than during the same period last year.
South Korea will purchase 408,700 MT of rice (milled basis) under the 2016 tariff rate quota purchasing plan, according to the USDA Post.
The government of Malaysia plans to introduce crop insurance for paddy farmers in order to protect them from risks associated with climate change such as drought, diseases, and floods.
The government of the Philippines may import another 500,000 tons of rice this year in addition to the 750,000 tons imported during the last six months, in efforts to mitigate the impact of El Nino-induced drought on the food supply.
Chinese customs authorities have tightened inspections on cargo being sent to North Korea, to ensure consistency in labelling and product being transported.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Bounce as Recent Spate of Selling Subsides; Wheat Continues to Slip as Crop Conditions Seen Better than Expected

Apr 09, 2016
hicago rough rice futures for May delivery settled 10.5 cents were cwt (about $2 per ton) higher at $9.850 per cwt (about $217 per ton). The other grains finished the day mostly lower; Soybeans closed about 0.4% lower at $9.0450 per bushel; wheat finished about 1.1% lower at $4.5775 per bushel, and corn finished the day about 1% higher at $3.6150 per bushel.
U.S. stocks traded mostly higher Friday, amid a rally in oil prices, as the yen held near highs not seen against the U.S. dollar since October 2014. The major averages came well off session highs in late-morning trade as the yen temporarily reversed earlier weakness to trade stronger against the dollar. Oil also briefly trimmed earlier gains. The Japanese yen traded little changed from highs seen earlier this week, trading near 108.4 against the U.S. dollar as of 1:03 p.m. ET. The yen recently hit fresh highs against the greenback going back to October 2014, putting pressure on stocks. Traders also noted some pressure on stocks after several downward revisions to first-quarter GDP estimates following wholesale inventories' 0.5% decline in February, the sharpest decline since May 2013, Reuters reported.
The Atlanta Fed's GDPNow model said the U.S. economy was on track to grow 0.1% in the first quarter, down from the previous 0.4% estimate. WTI held gains, surging more than 5% to near $39.30 a barrel in afternoon trade, after the oil rig count fell by 8, hitting its lowest level since 2009. U.S. crude oil futures are on pace for a weekly gain of more than 7.5%.European stocks closed up about 1% or more, with bank stocks outperforming. Asian stocks were mixed, with the Nikkei 225 and Hang Seng closing about half a percent higher while the Shanghai composite declined about 0.8%.In afternoon trade, the Dow Jones industrial average traded up 51 points, or 0.29%, to 17,593. The S&P 500 traded up 6 points, or 0.29%, to 2,047, with energy leading seven sectors higher with consumer discretionary leading decliners. The Nasdaq composite declined 1 point, or 0.03%, to 4,846. Gold is seen trading about 0.4% higher, crude oil is seen trading about 5.4% higher, and the U.S. dollar is seen trading about 0.2% lower at about  1:00pm Chicago time.
Thursday, there were 378 contracts traded, down up 560 contracts traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday increased by 80 contracts to 13,191.
Lack of Summer Rains May Impact Rabi Rice Output in South India, Say Experts
Apr 08, 2016
 Drought in India's southern states is likely to impact output from the 2015-16 rabi rice crop (November - May), the Economic Times quotes some experts.
Experts noted that the effect of drought has been severe in the states of Andhra Pradesh and Telangana. The Principal Scientist of Acharya N G Ranga University noted that lack of water in the Nagarjuna Sagar dam has been hindering irrigation activities in the two states.
An owner of a private farm in Karnataka noted that sowing for rabi rice crop in the state has not at started, though the kharif rice crop was good.
Local sources say untimely rains in last November and December and the present dry conditions in Tamil Nadu are severely affecting the rice and cotton crops.
The Secretary General of the Consortium of Indian Farmers' Association noted that only 60% of the total 140 million hectares of cultivated area is rain fed and the remaining depends on irrigation. He adds that the government should speed up the completion of nearly 400 incomplete irrigation projects across the country to help farmers avoid water crises in the cropping seasons.
The government of India forecasts India's 2015-16 (July - June) milled rice output to decline about 2% to around 103.61 million tons from around 105.48 million tons in 2014-15. While it forecasts the output from the kharif rice crop to decline about 1% y/y to around 90.59 million tons, it forecasts output from the rabi rice crop to decline about 7.5% y/y to around 13.02 million tons.

Lack of Summer Rains May Impact Rabi Rice Output in South India, Say Experts
Apr 08, 2016
Drought in India's southern states is likely to impact output from the 2015-16 rabi rice crop (November - May), the Economic Times quotes some experts.
Experts noted that the effect of drought has been severe in the states of Andhra Pradesh and Telangana. The Principal Scientist of Acharya N G Ranga University noted that lack of water in the Nagarjuna Sagar dam has been hindering irrigation activities in the two states.
An owner of a private farm in Karnataka noted that sowing for rabi rice crop in the state has not at started, though the kharif rice crop was good.
Local sources say untimely rains in last November and December and the present dry conditions in Tamil Nadu are severely affecting the rice and cotton crops.
The Secretary General of the Consortium of Indian Farmers' Association noted that only 60% of the total 140 million hectares of cultivated area is rain fed and the remaining depends on irrigation. He adds that the government should speed up the completion of nearly 400 incomplete irrigation projects across the country to help farmers avoid water crises in the cropping seasons.
The government of India forecasts India's 2015-16 (July - June) milled rice output to decline about 2% to around 103.61 million tons from around 105.48 million tons in 2014-15. While it forecasts the output from the kharif rice crop to decline about 1% y/y to around 90.59 million tons, it forecasts output from the rabi rice crop to decline about 7.5% y/y to around 13.02 million tons.
Oryza U.S. Rough Rice Recap - Prices Continue to Rally ahead of Iraqi Tender
Apr 09, 2016
The U.S. cash market was firmer again today with offers and bids increasing ahead of the deadline for Iraqi tenders offers to be submitted.
Despite the U.S. likely being the most expensive origin offered on the tender some are hopeful that the U.S. government will put pressure on the IGB to purchase U.S. rice especially given the fact that Secretary of State John Kerry was in Baghdad today.
Analysts note that without fresh demand from Iraq, Venezuela, or Colombia prices will continue their slide lower.
USDA Post Forecasts Pakistan MY 2015-16 Rice Exports at 4.2 Million Tons; Up 5% from Previous Year

Apr 08, 2016
The USDA Post forecasts Pakistan's MY 2015-16 rice exports at around 4.2 million tons, up about 5% from around 4 million tons last year and down from the USDA's official estimates of around 4.6 million tons. It forecasts exports in MY 2016-17 to remain stable at 4.2 million tons. The Post reports that though Pakistan’s rice exports are increasing gradually, much of the increase is in non-Basmati varieties as India continues to offer stiff competition in Basmati exports.
Based on the government figures, the Post forecasts Pakistan's MY 2015-16 milled rice production at around 6.79 million tons, down from around 6.9 million tons in the previous year and down from USDA's official estimates of around 6.9 million tons. It forecasts production to increase to 6.9 million tons in MY 2016-17 due to an expected increase in the area.
The Post forecasts Pakistan's MY 2015-16 rice area at around 2.74 million hectares, down from 2.85 million hectares last year and down from USDA's official estimates of 2.85 million hectares. It, however, forecasts area to increase to 2.8 million hectares in MY 2016-17 because some cotton farmers are likely to shift to rice due to the losses they incurred during the last crop.
The USDA Post forecasts Pakistan's MY 2015-16 rice consumption to increase to 2.9 million tons from last year's 2.8 million tons and further increase to 2.95 million tons in MY 2016-17. The Post reports that around 200,000 tons of rice were used for poultry and animal feed in December 2015 due to a decline in prices.
The Post forecasts Pakistan's MY 2015-16 rice stocks to decline to 1.1 million tons from last year's 1.5 million tons and further decline to 850,000 tons in MY 2016-17. It reports that Pakistan’s stock levels reached a historic high of 1.5 million metric tons in MY 2014-15 and rice millers were concerned about the large stocks at their mills, but the stock level is gradually coming down, as exports are increasing.
USDA Post Forecasts Argentina MY 2016-17 Rice Exports to Increase 10% y/y to 550,000 Tons


Apr 08, 2016


The USDA Post forecasts Argentina's total rice exports in MY 2016-17 at 550,000 tons, up about 10% from around 500,000 tons last year. Exports reportedly slowed down in 2014-15 as Brazil shifted to Paraguay and Uruguay. However, local traders believe that in the last part of 2016 Brazil will speed up purchases as it is expected to have a small stock primarily due to a drop in production, says the Post.
Argentina primarily exports rice to Iraq, Colombia, Brazil and Mexico.
The Post reports that there is a great uncertainty in the local market due to large stocks from 2014-15 season and low exports. The elimination of export taxes (5% for rough rice and 10% for milled rice) and the strong devaluation have improved somewhat the situation, but many producers are not able to take advantage of the new policies, says the Post.
The USDA Post forecasts Argentina's MY 2016-17 (April 2016 - March 2017) paddy rice acreage and production to remain unchanged at last year's level of around 208,000 hectares and 1.338 million tons respectively.

The Post forecasts Argentina's 2016-17 rice consumption to be stable at around 460,000 tons.
Government of Cambodia Removes Value Added Tax on Milling Machines


Apr 08, 2016
The government of Cambodia has removed the current value-added tax (VAT) of 10% on milling machines as part of effort to support the rice millers, the Phnompenh Post quoted a government circular.
According to the circular, the removal of VAT on the milling machines would come into effect immediately. It also noted that the VAT removal would make rice production more price-competitive. All agricultural products have been granted an exemption from the VAT, according to the circular.
The government announced some measures, including the VAT removal on milling machines and curbing rice imports from neighboring countries, on March 31, 2016 following an emergency meeting of the members of the Cambodia Rice Federation (CRF) and the involved stakeholders with the Deputy Prime Minister.
Last week, one of the leading exporters told reporters that the decision to remove the 10% VAT will benefit local millers so that they can compete with their foreign counterparts.
India Rice Sellers Increase Some of their Quotes Today; Other Asia Rice Quotes Unchanged

Apr 08, 2016
India rice sellers  increased their quotes for 100% broken rice by about $5 per ton to around $275-$385 per ton today. Other Asia rice sellers kept their quotes unchanged.      
5% Broken Rice
Thailand 5% rice is indicated at around $370 - $380 per ton, about $5 per ton premium on Vietnam 5% rice shown at around $365 - $376 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 is 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 is 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 is 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 $275 - $285 per ton, about $10 per ton discount to Pakistan broken sortexed rice shown at around $285 - $295 per ton.
 Global Rice Quotes
April 8th, 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 275-285
Egypt medium grain brokens NQ
U.S. pet food 315-325
Brazil half grain NQ
All prices USD per ton, FOB vessel, oryza.com
USDA Post Forecasts EU MY 2015-16 Milled Rice Production at 2.055 Million Tons; Up 5% from Previous Year

Apr 08, 2016

The USDA Post forecasts the EU MY 2015-16 milled rice production at around 2.055 million tons, up from around 1.963 million tons and up from the USDA's official estimates of around 2.005 million tons. Italy and Spain are the top rice producers in the EU.
The Post forecasts Italy's MY 2015-16 rice production to increase 7.5% y/y to around 1.5 million tons, including 820,000 tons of Long-A, 250,000 tons of Long-B and 400,000 tons of round paddy, due to increased area and yields. The Post reports that the long grain Indica planted area is in declining due to increasing competition from rice imports from Cambodia, Myanmar, Guyana, and Surinam which enjoy duty-free market access under 'Everything But Arms' (EBA) agreements. However, this decline is likely to be offset by the increased area for the long grain Japonica variety.
The USDA Post reports that Spain's rice production has remained stable for some years but area has been declining.
The Post forecasts the EU MY 2015-16 rice imports to decline to around 3.6% y/y to around 1.65 million tons and exports to increase about 2.6% y/y to around 280,000 tons.
USDA Post Forecasts Dominican Republic's MY 2015-16 Paddy Rice Production at 806,000 Tons, Down 6% from Previous Year


Apr 08, 2016

USDA Post forecasts Dominican Republic's paddy rice production to decline about 6% to around 806,000 tons (around 540,000 tons, basis milled) in MY 2015-16 (July 2015 - July 2016) from around 861,000 tons (around 577,000 tons, basis milled) in the previous year due to an expected decline in paddy rice acreage. The Post forecasts MY 2016-16 production to decline to 791,000 tons due to reduced availability of irrigated production area and the continued high level of stocks managed by the government.
The Post forecasts the country's paddy rice acreage at around 150,000 hectares, down about 12% from around 170,000 hectares last year. Rice is grown in two cycles in the country with 75% crop grown in the main season and 25% crop grown in the secondary season. It forecasts the paddy acreage to further decline to around 140,000 tons in MY 2016-17.
The average yield has been varying between 4 and 5 tons per hectare over the last ten years. The Post expects no change in yields due to lack of improvements in irrigation facilities and production technologies as well as lack of development of new varieties.
The Post estimates the country's milled rice consumption to remain stable at around 560,000 tons in MY 2015-16 and MY 2016-17.
USDA Post reports that both imports and exports by the Dominican Republic are limited as the country has been self-sufficient in rice production for the last several years. The Post forecasts the country's imports in MY 2015-16 at 17,000 tons, down from last year's 19,000 tons, and further decline to 15,000 tons in MY 2016-17. It forecasts the country's exports in MY 2015-16 at 16,000 tons, down from last year's 18,000 tons, and further decline to 12,000 tons in MY 2016-17.
Dominican Republic has placed rice in Basket V of the Dominican Republic-Central America FTA (CAFTA-DR) and agreed for a tariff-reduction period of 20 years as well as establishing a 99% out-of-quota tariff rate. The out-of-quota tariff rate will remain unchanged during the first 10 years of the Agreement, until 2015. From 2016 to 2020 the out-of-quota tariff rate will be reduced by 8% annually, and from years 2021 to 2025 by 12% annually. The country also negotiated a special  safeguard with an additional tariff rate, which can be applied until the end of the tariff reduction period.
The Post forecasts Dominican Republic's MY 2015-16 stocks to decline to around 205,000 tons, down about 8% from last year. It expects stocks to further decline to 178,000 tons in MY 2016-17.
China Tightens Inspections of North Korea-Bound Rice Cargos
Apr 08, 2016
Chinese customs authorities have tightened inspections on cargo being sent to North Korea, reports KBS World Radio citing Radio Free Asia (RFA).
A China-based trader told reporters that the authorities have tightened inspections to curb transport of "apple rice" to North Korea. He noted that "apple rice" is Chinese rice packed in apple boxes instead of sacks. The term is used a jargon among traders to refer to boxes whose labels are inconsistent with the actual product inside the box.
He also noted that the authorities usually do not monitor all goods being sent to North Korea, but now they are randomly checking items to check if the inventory matches the actual cargo. It is now almost impossible to send "apple rice" to North Korea, he adds.
Oryza U.S. Rough Rice Recap - Prices Continue to Rally ahead of Iraqi Tender
Apr 09, 2016
The U.S. cash market was firmer again today with offers and bids increasing ahead of the deadline for Iraqi tenders offers to be submitted.
Despite the U.S. likely being the most expensive origin offered on the tender some are hopeful that the U.S. government will put pressure on the IGB to purchase U.S. rice especially given the fact that Secretary of State John Kerry was in Baghdad today.Analysts note that without fresh demand from Iraq, Venezuela, or Colombia prices will continue their slide lower.
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