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TOP Contents - Tailored for YOU Latest News Headlines…
Domestic Rice Prices in Asia Show Mixed Trends in April 2014, Says FAO Iraq Tenders to Buy 30,000 Tons of Rice Pakistan Basmati Rice Export Prices Decline to $1,350 per Ton in April 2014; Down 1% from Previous Year USDA Projects U.S. Total Paddy Rice Production at 9.66 Million Tons in MY 2014-15; Up 12% from Previous Year Oryza U.S. Rough Rice Recap - Offers Hold Firm as Futures Drop; USDA Estimates Planting 75% Complete Oryza Afternoon Recap - Chicago Rough Rice Futures Begin the Week with Negative Tone as Old Crop Futures are Pulled Lower by Bearish Grains Complex Oryza Rice Currency Analysis for Today – Currencies Little Changed IBGE Estimates Brazil 2014 Paddy Rice Production to Increase to 12.7 Million Tons, Up 7.7% from 11.8 Million Tons in Previous Year Increasing Competition from India and Thailand Forces Vietnam to Lower 2014 Rice Export Target to 6.2 Million Tons Vietnam Exports About 1.82 Million Tons Rice Jan 1- May 8, 2014 Oryza Overnight Recap - Chicago Rough Rice Futures Unaffected by Sharply Lower Wheat and Corn Overnight Vietnam Rice Sellers Increase Most Quotes; Pakistan Rice Sellers Increase Some of Their Quotes Today Oryza Global Rice Quotes
News Headlines… Domestic Rice Prices in Asia Show Mixed Trends in April 2014, Says FAO May 12, 2014
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Domestic rice prices in Asia have shown mixed trends in April 2014, according to the UN's Food and Agriculture Organization (FAO). Prices in exporting countries such as Vietnam and Cambodia declined sharply due to increased supplies from 2013-14 harvests, while those in Sri Lanka and the Philippines increased to record levels due to reduced output from 2014 harvests. Prices in China, India and Bangladesh remained stable during the month, says FAO. Wholesale rice prices in Vietnam declined by about 4% in April 2014 due to increased supplies from the 201314 main season winter-spring harvest and lower cross-border exports to China. Domestic prices in Thailand also declined sharply in April due to continuous sales of government rice stocks as well as good supplies from the 2013-14 secondary season harvest.Rice prices in Thailand were about one-third below their levels a year earlier. The national average prices of regular and well-milled rice varieties in the Philippines increased by about 3% in April due to lower output from the recently-completed 2013-14 secondary season harvest as well as significantly lower rice imports in 2013-14 marketing year (July - June) and low levels of stocks. The government’s importation of 800,000 tons of rice from Vietnam between May and August is expected to stabilize prices. Reduced output from the 2013 main Maha harvest coupled with increased demand led to an increase in the domestic prices.Rice prices in China were stable and were supported by sustained demand and higher minimum support prices (MSP) by the government. Prices in Bangladesh were also stable based on the forecast of a record harvest from the 2013-14 Boro crop. Prices in India were also relatively stable in April due to expected higher output from the new Rabi season crop, ample public stocks, and government purchases at high procurement prices as well as sustained export demand.Export rice prices were stable in April 2014, according to the FAO. However, Thai rice export prices continued to fall due to increased rice sales by the Thailand government. Tags: global rice prices, Rice Prices
Iraq Tenders to Buy 30,000 Tons of Rice May 12, 2014
Iraq is tendering to buy 30,000 tons of rice from the U.S., Uruguay, Brazil, Argentina, or Vietnam, Bloomberg reports. The bidding deadline is June 1 and offers must remain valid until June 5. Tags: Iraq rice tender
Pakistan Basmati Rice Export Prices Decline to $1,350 per Ton in April 2014; Down 1% from Previous Year Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
May 12, 2014
Average Pakistan basmati rice export prices declined to around $1,350 per ton in April 2014, down about 1% from around $1,362 per ton in March 2014 and down about 1% from around $1,362 per ton in April 2013, according to the UN's Food and Agriculture Organization (FAO). Comparing m/m the rupee has fallen about 2%, more than making up for the 1% increase in basmati prices in local currency. Pakistan's rupee declined about 2% m/m to about Rs.98.7 per dollar as on May 12, 2014 from about Rs.96.2 per dollar on April 12, 2014.According to the FAO, Pakistani rice prices averaged around $1,364 per ton during the first four months of 2014, slightly up from $1,362 per ton during the same period in 2013.In terms of local currency, Pakistan's basmati rice prices increased to PKR 132,908 per ton (using historical exchange rates) in April 2014, up about 1% from about PKR 131,978 per ton in March 2014, and down about 1% from about PKR 134,157 per ton in April 2013.
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USDA Projects U.S. Total Paddy Rice Production at 9.66 Million Tons in MY 201415; Up 12% from Previous Year The USDA has projected the U.S. total paddy rice production at 9.66 million tons in MY 2014-15 (August 2014 July 2015), up about 12% from about 8.61 million tons in MY 2013-14, according to its May 9 WASDE Report. The long-grain production is projected to increase by about 22% to 7.3 million tons while the medium and short grain production is projected to decline by about 10% to 2.36 million tons. The decline in combined medium and short-grain production is mainly due to decline in medium grain planting area in California due to drought and water restrictions, according to the USDA.The USDA projects the U.S. MY 2014-15 all rice exports to increase by about 7% to about 4.63 million tons (1.54 million tons basis paddy and 3.08 million tons basis milled) from about 4.36 million tons in MY 2013-14. Long-grain rice exports are expected to increase by about 13% to about 3.7 million tons, combined medium and short-grain exports are expected to decline by about 4% to about 1.36 million tons due to expected lower supplies of medium-grain rice from California. USDA expects larger longgrain supplies in MY 2014-15 and lower projected prices to expand exports.The USDA projects that in the U.S. MY 2014-15 all rice imports will remain at last year's level of about 1 million tons.The USDA estimates MY 2014-15 average long-grain farm paddy
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prices to decline to about $308.64 per ton, down about 10% from about $341.71 per ton in MY 2013-14. However, it expects average medium and short-grain farm prices to increase to about $418.87 per ton from about $396.83 per ton in MY 2013-14. Tags: USDA, World Agricultural Supply and Demand Estimates (WASDE), U.S. rice production, U.S. paddy production
Oryza U.S. Rough Rice Recap - Offers Hold Firm as Futures Drop; USDA Estimates Planting 75% Complete May 12, 2014
Old crop offers held firm today near $16.05 per cwt fob farm (about $354 per ton) for May-June shipment although most farmers have now set their sights on $16.66 per cwt fob farm (about $367 per ton).Bids from most larger mills decreased today to around $15.05 per cwt (about $332 per ton) for May-June delivery while bids for exporters could still be found around $15.50-$15.75 per cwt (about $342-$347 per ton), for the same delivery period; however, smaller mills are still said to be bidding around $16.10 per cwt (about $355 per ton) for prompt delivery. In the meantime, the USDA estimates that as of May 11th, 75% of the US rice crop had been planted which was 8% more than this time last year and 2% more than the previous 5-year average. As of now, the USDA estimates that farmers have planted 82% of their rice crop in Arkansas, 40% in California, 97% in Louisiana, 68% in Mississippi, 80% in Missouri, and 91% in Texas.The USDA also estimates that 53% of the US rice crop had emerged which was 6% more than this time last year but 5% less than the previous 5-year average. As of now, the USDA estimates that 59% of the rice crop in Arkansas has emerged compared to 12% in California, 90% in Louisiana, 41% in Mississippi, 44% in Missouri, and 81% in Texas. Tags: U.S. rice prices; U.S. rice market
Oryza Afternoon Recap - Chicago Rough Rice Futures Begin the Week with Negative Tone as Old Crop Futures are Pulled Lower by Bearish Grains Complex May 12, 2014
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Chicago rough rice futures for Jul delivery settled 11 cents per cwt (about $2 per ton) lower at $15.430 per cwt (about $338 per ton). Old crop rough rice futures faced firm selling pressure as traders appear unable to justify such a large premium currently being asked for the July futures to the September given the lack of demand and relative price sensitivity of export markets. Many trade insiders expect any demand to be deferred to the new crop if the current price disparity remains. The other grains finished the day sharply lower; soybeans closed about 1.5% lower at $14.6525 per bushel; wheat finished about 1% lower at $7.1500 per bushel, and corn finished the day about 1.6% lower at $4.9950 per bushel.U.S. stocks rose on Monday, lifting the S&P 500 above its record finish and the Dow to an intraday record, as technology shares surged and M&A activity helped brighten Wall Street's view of the economy. With 90% of first-quarter results reported by S&P 500 companies, 69.2% have beaten earnings estimates, and 52.9% have reported revenue above analyst expectations, according to Thomson Reuters. The Dow Jones Industrial Average rose 111 points to an intraday record of 16,695.18, and was lately up 100.92 points, or 0.6%, at 16,684.26. The S&P 500 advanced 14.58 points, or 0.8%, to 1,893.06, above its April 2 record close and less than five points from its intraday record, with materials and technology leading gains and utilities and telecommunications the poorest performers among its 10 major industry groups. The Nasdaq climbed 59.56 points, or 1.5%, to 4,131.43. Gold is trading about 0.7% higher, crude oil is seen trading about 0.6% higher, and the U.S. dollar is seen trading slightly lower at about 1:00pm Chicago time.Friday, there were 241 contracts traded, down from 251 contracts traded on Thursday. Open interest – the number of contracts outstanding – on Friday increased by 34 contracts to 8,176. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
Oryza Rice Currency Analysis for Today – Currencies Little Changed May 12, 2014
U.S. dollar index was down -0.02% from the open today, when it traded at 79.897 at the close. Euro was weaker -0.01% by the close, trading around 1.3757 by end of day, after trading between an intraday high of 1.3775 and low of 1.3749. Thai baht was stronger +0.03%, trading at 32.610 at the close of business. Indian rupee was weaker -0.04% at 60.0500. Brazilian real was weaker -0.27% at the close of trading today, trading at 2.2187 reais per dollar. Pakistan rupee was -0.07% weaker at 98.6448.
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Vietnamese dong was +0.01% stronger at 21098. Mexican peso was weaker -0.13% today, when it traded at 12.9648 pesos per dollar by the close of business. Chinese yuan was weaker -0.15%, trading at 6.2369. Argentine peso was weaker -0.10% at 8.0121 pesos per dollar. Tags: foreign exchange rates, rice currencies, Global rice trade
IBGE Estimates Brazil 2014 Paddy Rice Production to Increase to 12.7 Million Tons, Up 7.7% from 11.8 Million Tons in Previous Year May 12, 2014
The Brazilian Institute of Geography and Statistics (IBGE) has estimated Brazil's 2014 paddy rice production to increase to about 12.66 million tons, up about 7.7% from about 11.76 million tons produced in 2013, according to a press release on its website.The IBGE expects the average yield in 2014 to reach around 5.3 tons per hectare, up about 6% from around 5 tons per hectares achieved in 2013. The Institute also expects the area harvested under rice to increase by about 2% in 2014 over last year. The Rio Grande do Sul is the largest paddy producing region in Brazil and accounts for about 68% of Brazil's total paddy rice production. The IBGE expects the region to achieve a yield of about 7.7 tons per hectare on an area of around 1.12 million hectares. Last month, Brazil’s National Grains Supply Company (Conab) increased its paddy rice production forecast for 2013-14 to around 12.6 million tons, up around 1% from its previous estimate of around 12.5 million tons, and up about 7% from an estimated 11.82 million tons produced in 2012-13.USDA estimates Brazil's milled rice production at about 8.6 million tons in MY 2013-14 (April 2014 - March 2015), up about 8% from about 8 million tons produced in MY 2012-13. Brazil's 2013-14 rice exports are estimated at 950,000 tons, up about 13% from about 840,000 tons exported in 2012-13. Tags: brazil paddy rice, Brazil rice production, Brazilian Institute of Geography and Statistics (IBGE), Conab
Increasing Competition from India and Thailand Forces Vietnam to Lower 2014 Rice Export Target to 6.2 Million Tons
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May 12, 2014
The Vietnam Food Association (VFA) has lowered 2014 rice export target to 6.2 million tons from the earlier target of 6.5 - 7 million tons due to heavy competition from India and Thailand, according to local sources.According to the VFA, Vietnam's traditional export markets such as Malaysia have been shifting towards Thailand.Sources at the VFA told local media that Vietnam is also likely to lose its market share to Thailand for most African destination markets. In the first three months of 2014, Vietnam exported about 84,289 tons of rice to Africa, down about 64% from about 232,899 tons exported during the same period in 2013, according to the data from USDA. Vietnam exported 1.83 million tons of rice to Africa in 2013. The VFA is also viewing India, which was the world's top rice exporter in 2012 and 2013, as a major competitor. As of May 1, 2014 India was holding about 28.4 million tons of rice in stock, though down 18% from last year. Local sources say Vietnamese rice exporters are pinning their hopes on China, which has become an important destination for Vietnamese rice during the last couple of years. Vietnam's rice exports to China accounted for nearly 60% of total exports in April, 2014, according to local sources. However, experts say price to China mostly depends on rice price fluctuations, looking to take advantage of lower prices outside China, and that Chinese importers are not that reliable as they tend to cancel contracts based on price fluctuations or when others offer them rice at lower prices. They have also warned Vietnamese rice exporters to diversify their markets and urged the government to encourage rice farmers to produce high quality rice to compete with Thailand, according to local sources.Vietnam exported about 1.82 million tons of rice during Jan 1 - May 8, 2014, down about 35% from about 2.8 million tons of rice exported during Jan-May, 2013, according to data from the Vietnam Food Association (VFA).USDA estimates Vietnam to export around 6.5 million tons of rice in MY 2013-14 (January 2014 - December 2014), down about 3% from an estimated 6.7 million tons exported in MY 2012-13. Vietnam exports reached a record 7.7 million tons in MY 2011-12 according to the USDA. Tags: Vietnam Food Association (VFA), Vietnam rice exports
Vietnam Exports About 1.82 Million Tons Rice Jan 1- May 8, 2014 May 12, 2014
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Vietnam exported about 1.82 million tons of rice during Jan 1 - May 8, 2014, down about 35% from about 2.8 million tons of rice exported during Jan-May, 2013, according to data from the Vietnam Food Association (VFA). The average rice export price so far in this year stands at about $437 per ton (FOB), down about $2 per ton from an average about $439 per ton recorded during first five months last year. During May 1-8, 2014, Vietnam exported about 67,079 tons of rice, which compares to about 648,359 tons rice exported in full month of May 2013, and about 537,094 tons rice exported in full month of April 2014. The average export price in May stands at around $440 per ton, up about 4% from about $422 per ton recorded a year ago, and down about $1 per ton from about $441 per ton recorded in April 2014.Vietnam's rice exports during May 1-8, 2014 include: 22,951 tons of 5-10% broken rice (about 34% of total rice exports in May 2014);
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18,606 tons of Aromatic rice (about 28% of total rice exports in May 2014); 7,857 tons of 15% broken rice (about 12% of total rice export in May 2014); and 7,500 tons of 25% broken rice (about 11% of total rice exports in May 2014). Asia was the major rice exporting destination for Vietnam rice so far in May 2014, with about 45,692 tons or about 68% of total rice exports. The Africa was the second largest destination, accounting for of about 12,660 tons of rice exports (equivalent to about 19% of total rice exports in May 2014). Vietnam also exported 5,429 tons of rice to the Europe, about 2,980 tons of rice to the Americas, 312 tons of rice to the Middle East, and 26 tons of rice to Australia, so far in May 2014. Tags: Vietnam rice exports, asian rice trade, asian rice imports
Oryza Overnight Recap - Chicago Rough Rice Futures Unaffected by Sharply Lower Wheat and Corn Overnight May 12, 2014
Chicago rough rice futures for Jul delivery were paused unchanged overnight at $15.430 per cwt (about $340 per ton) as of 8:00am Chicago time. The other grains are seen mostly lower this morning ahead of floor trading in Chicago: soybeans are currently seen marginally higher, wheat was paused about 1.8% lower, and corn is noted about 0.6% lower. .S. stock index futures signaled a higher open on Monday, with investor sentiment in Asia and Europe buoyed after the Dow Jones's all-time high close on Friday. The Shanghai Composite got a further boost on Monday, after the Chinese government announced market reforms that could increase market liquidity. It has proposed opening up its stock and bond markets, as well as relaxing foreign ownership of companies and pursuing both inward and outward investment. U.S. Treasury Secretary Jacob Lew will travel to China on Monday to discuss the pace of reforms with the Chinese government, and also the yuan currency. Europe market gains were capped on Monday by concerns in Ukraine. In the eastern city of Donetsk, 89 percent of the populace is said to have voted in favor of seceding from Ukraine on Sunday. The West is concerned the referendum could be a prelude to annexation by Russia, as occurred in Crimea in March after a different secession vote. Europe foreign ministers will meet in Brussels on Monday to mull tighter sanctions against Russia. U.S. stock index futures are currently trading about 0.4% higher, gold is currently trading about 1.2% higher, crude oil is seen trading about 0.5% higher, and the U.S. dollar is currently trading about 0.1% lower at 8:00am Chicago time. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
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Vietnam Rice Sellers Increase Most Quotes; Pakistan Rice Sellers Increase Some of Their Quotes Today May 12, 2014
Vietnam rice sellers increased most of their quotes by $10 per ton today. Pakistan rice sellers increased their quotes for 25% broken rice by about $5 per ton to about $420 - $430 per ton. Thailand and India rice sellers kept their quotes mostly unchanged. 5% Broken Rice Thai 5% rice (of new crop) is quoted around $370 - $380 per ton, about $30 per ton discount to Viet 5% rice shown around $400 - $410 per ton, up about $10 per ton from Friday. Indian 5% rice is quoted around $415 - $425 per ton, about $5 per ton discount to Pak 5% rice quoted around $420 - $430 per ton, up about $5 per ton from Friday. 25% Broken Rice Thai 25% rice of the old crop is quoted about $340 - $350 per ton, about a $25 per ton discount to Viet 25% rice shown around $365 - $375 per ton, up about $10 per ton from Friday. Indian 25% rice is quoted around $370 - $380 per ton, on par with Pak 25% quoted around $370 - $380 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $405 - $415 per ton. Indian parboiled rice is quoted around $395 - $405 per ton, about $40 per ton discount to Pak parboiled rice quoted around $435 - $445 per ton. 100% Broken Rice Thai broken rice, A1 Super, of the old crop is quoted around $300 - $310 per ton, about a $35 per ton discount to Viet broken rice shown around $335 - $345 per ton, up about $10 per ton from Friday. Indian broken sortexed rice is quoted around $300 - $310 per ton, about a $25 per ton discount to Pak broken sortexed rice quoted around $325 - $335 per ton.
Oryza Global Rice Quotes May 12th, 2014 Long grain white rice - high quality Thailand 100% B grade 385-395 Vietnam 5% broken 400-410 ↑ India 5% broken 415-425 ↔
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Pakistan 5% broken Cambodia 5% broken U.S. 4% broken Uruguay 5% broken Argentina 5% broken
420-430 435-445 580-590 620-630 615-625
↑ ↔ ↔ ↔ ↔
Long grain white rice - low quality Thailand 25% broken 340-350 ↔ Vietnam 25% broken 365-375 ↑ Pakistan 25% broken 370-380 ↔ Cambodia 25% broken 410-420 India 25% broken 370-380 ↔ U.S. 15% broken 555-565 ↔
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For Advertising SPECS & RATES
Long grain parboiled rice Thailand parboiled 100% stxd 405-415 Pakistan parboiled 5% broken stxd 435-445 India parboiled 5% broken stxd 395-405 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken NQ ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 935-945 Vietnam Jasmine 525-535 ↑ India basmati 2% broken NQ ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 865-870 ↔ Brokens Thailand A1 Super 300-310 ↔ Vietnam 100% broken 335-345 Pakistan 100% broken stxd 325-335 Cambodia A1 Super 350-360 ↔ India 100% Broken stxd 300-310 Egypt medium grain brokens NQ ↔ U.S. pet food 470-480 ↔ Brazil half grain NQ ↔ Medium grain milled U.S. Calrose 4% broken 1070-1080 Egypt medium grain 6% NQ ↔
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Contact: Advertising Department Mujahid Ali mujahid.riceplus@gmail.com +92
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↔ All prices USD per ton, FOB vessel, oryza.com
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