13th November,2013
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TOP Contents - Tailored for YOU Latest News Headlines…
Pakistan Traders Keen to Re-Export India Rice Global Rice Trade Forecast to Decline in 2012-13 and 2013-14 North Korea 2013-14 Rice Production May Decline 6% to 1.7 million Tons Oryza Overnight Recap – Chicago Rough Rice Futures Trade to Double Digit Gain Overnight but Trade Volume Remains Depressed; Grain Complex Begins Morning Higher Philippines Rice Stocks Stand at 1.7 Million Tons, Down about 11% from Last Year Thailand, India Rice Sellers Lower Some of Their Quotes Today Oryza Rice Currency Analysis for Today – India Rupee Continues to Fall Oryza Rice Currency Analysis for Today – India Rupee Continues to Fall Oryza Afternoon Recap – Chicago Rough Rice Futures Tumble as Selling Pressure Builds; Chart Stages Bearish Reversal Oryza Afternoon Recap – Chicago Rough Rice Futures Tumble as Selling Pressure Builds; Chart Stages Bearish Reversal Oryza U.S. Rough Rice Recap – Market Remains Firm Despite Limited Trade; Harvest Now CompleteBrazil Paddy Rice Index Declines Slightly Last Week Oryza Global Rice Quotes
NEWS DETAILS: Pakistan Traders Keen to Re-Export India Rice Nov 12, 2013
Some Pakistan rice exporters say that the country’s overall economy could benefit from awarding the Most Favored Nation (MFN) status to India and allowing rice imports from India.According to local sources, some Pakistan rice exporters are eyeing re-export of rice to countries in Central Asia and the Middle East. Exporters stand to benefit from lesser distance from such markets compared to India. Moreover, production costs are increasing in Pakistan and sales of Pakistan basmati rice is low in the international market this year partly due to high prices. Another promising market that Pakistan rice exporters have access to is China, the world’s largest rice importer.India has already awarded the MFN status to Pakistan in 1996 under WTO rules. Pakistan is likely to award the MFN status to India next month, say sources in Pakistan. However, the move is opposed by rice farmers and some exporters in Pakistan who say that imports of low-priced rice from India will destroy the languishing local rice industry.The Rice Exporters Association of Pakistan (REAP) says that India imposes an import duty of around 70% on rice imports, compared to around 14% in Pakistan. REAP wants the two
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countries to first equalize the rice trade tariffs or remove those completely before awarding the MFN status to India which will allow free movement of rice and other agriculture items between the two countries. Tags: Pakistan rice exports, India rice exports, Most Favored Nation
Global Rice Trade Forecast to Decline in 2012-13 and 2013-14 Nov 12, 2013
Global rice trade is likely to decline in 2012-13 and 2013-14 due to lower purchases by leading importers and poor production prospects in India and China, according to the UN’s Food and Agriculture Organization (FAO).Rice trade in 2012-13 is expected to reach around 37.6 million tons, down about 2% from around 38.4 million tons in the previous year. In 2013-14, global rice trade is likely to decline further by aorund 0.5% to around 37.4 million tons, according to the FAO.Indonesia, Iran, South Korea and the Philippines are all expected to reduce their imports due to abundant supplies. Production is increasing in all these countries while rice consumption is on the decline in South Korea. Imports by African countries are also likely to decline. The FAO says that China’s rice imports are likely to remain high in 2012-13 and 2013-14, but may decline if global prices increase.Among exporters, India is expected to remain the world’s largest rice exporter in 2012-13 and in 2013-14, but exports are likely to slow down from 2011-12 due to higher stock utilization under the National Food Security Law. "India is expected to bear much of the brunt of the 2014 contraction in world trade, shipping 9 million tons of rice or 1.2 million tonnes less than estimated for 2013," FAO says. Exports by Pakistan, the U.S. and Vietnam are also likely to decline. However, Thailand’s rice exports may recover in 2012-13 and 2013-14 due to decline in export prices.The FAO also lowered its forecast for 2013-14 world rice
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production to around 494 million tons, still up about 1% from 2012-13 due to worsening of crop prospects in China and India.Global rice utilization in 2013-14 is forecast to reach 489 million tons, up about 2.6% or 12 million tons from the previous year. Tags: FAO rice, Global rice trade
North Korea 2013-14 Rice Production May Decline 6% to 1.7 million Tons Nov 12, 2013
Food insecurity is expected to continue in North Korea with rice production in 2013-14 forecast to reach around 1.7 million tons, down about 6% from the previous year, according to the FAO. Rice consumption in North Korea stands at around 1.9 million tons until summer 2014, while rice per capita consumption in the country is estimated at around 67.2 kilograms per person per year, unchanged from last year. Tags: North Korea rice production, FAO
Oryza Overnight Recap – Chicago Rough Rice Futures Trade to Double Digit Gain Overnight but Trade Volume Remains Depressed; Grain Complex Begins Morning Higher Nov 12, 2013
Chicago rough rice futures for January delivery are currently paused 10.5 cents per cwt (about $2 per ton) higher at $15.735 per cwt (about $347 per ton) as of 8:30am Chicago time. The other grains are seen higher this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.3% higher, wheat is seen about 0.3% higher, and corn is paused about 0.3% higher.U.S. stock index futures pointed to a lower open on Wall Street on Tuesday, with Wall Street poised for a pause a day after the Dow Jones Industrial Average closed at another record high. Both the Dow and the S&P 500 have hit record heights, the latter at the end of October, as the Federal Reserve held off on reducing its $85 billion in monthly asset purchases, also known as quantitative easing. In China, government officials ended a four-day gathering held to plan economic reforms, saying they would let markets take on a larger part in deciding where resources go. Attention remains firmly on the Federal Reserve on Tuesday too with key comments expected from Fed presidents Dennis Lockhart and Narayana Kocherlakota when they speak later today. U.S. stock index futures are currently trading about 0.2% lower, gold is currently trading marginally higher, crude oil is seen trading about 0.1% lower, and the U.S. dollar is currently trading about 0.1% higher at 7:30am Chicago time. Tags: chicago rough rice futures
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Philippines Rice Stocks Stand at 1.7 Million Tons, Down about 11% from Last Year
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Nov 12, 2013
Total rice stocks in the Philippines as of October 1, 2013 (and before the devastation caused by typhoon Haiyan) stood at around 1.7 million tons, down about 11% from around 2 million tons recorded during the same time last year, and down about 16% from September 2013, according to the Bureau of Agricultural Statistics (BAS).The BAS said that household stocks (which account for around 51% of total rice stocks in the country) have declined to around 900,000 tons as of October 1, 2013, down about 3% from year-ago levels of around 930,000 tons. Commercial warehouse rice stocks (which account for about 27% of total stocks) have declined to about 480,000 tons as of October 1, 2013, down about 15% from last year. The sharpest decline is seen in rice stocks with the National Food Authority (NFA) (which accounts for 22% of total stocks) which are at around 390,000 tons, down about 23% from last year. Month-on-month, overall rice stocks in the Philippines have declined by about 16% from September 2013. Stocks in commercial warehouses are down by about 4%, while NFA rice stocks, in which about 46% are imported rice, are down about 22% from September 2013. However, household stocks are up about 69% from the previous month levels, according to the BAS.The Philippines' rice stocks as of October 1, 2013 are enough to last for 52 days (household stocks are enough for 27 days, commercial warehouses stocks are enough for 14 days and stocks with NFA are enough for 11 days), according to the BAS. Tags: Philippines rice stocks
Thailand, India Rice Sellers Lower Some of Their Quotes Today Nov 12, 2013
Thailand rice sellers lowered their quotes for 5% broken rice and 25% broken rice by about $5 per ton each to about $400 - $410 per ton and $380 - $390 per ton respectively today. India rice sellers lowered their quotes for 5% broken rice and parboiled rice by about $5 per ton each to about $410 - $420 per ton and $380 - $390 per ton respectively. Vietnam and Pakistan rice sellers kept their quotes unchanged today. 5% Broken Rice Thai 5% rice is quoted around $400 - $410 per ton, down about $5 per ton from yesterday and about a $5 per ton premium over Viet 5% rice shown around $395 - $405 per ton. Indian 5% rice is quoted around $410 - $420 per ton, down about $5 per ton from yesterday and about a $35 per ton premium over Pak 5% rice quoted around $375 - $385 per ton. 25% Broken Rice Thai 25% rice is quoted about $380 - $390 per ton, down about $5 per ton from yesterday and about a $15 per ton premium over Viet 25% rice shown around $365 - $375 per ton. Indian 25% rice is quoted about $370 - $380 per ton, about a $35 per ton premium over Pak 25% rice quoted around $335 - $345 per ton. Parboiled Rice Thai parboiled rice is quoted around $440 - $450 per ton. Indian parboiled rice is quoted around $380 - $390 per ton, down about $5 per ton from yesterday and about a $35 per ton discount to Pak parboiled rice quoted around $415 - $425 per ton. 100% Broken Rice
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Thai broken rice, A1 Super, is quoted around $345 - $355 per ton, about a $5 per ton premium over Viet broken rice shown around $345 - $355 per ton. Indian broken sortexed rice is quoted about $310 - $320 per ton, about a $25 per ton discount to Pak broken sortexed rice quoted around $335 - $345 per ton. Tags: Asia rice quotes, India rice quotes, Pakistan rice quotes, Vietnam rice quotes, Thailand rice quotes
Oryza Rice Currency Analysis for Today – India Rupee Continues to Fall Nov 12, 2013
U.S. dollar index was up +0.13% from the open today, when it traded at 81.195 at the close. Euro was +0.16% higher today by the close, trading around 1.3428 by end of day, after trading between an intraday high of 1.3456 and low of 1.3359. Thai baht was stronger +0.08%, trading at 31.625 at the close of business. Indian rupee was -0.72% weaker, trading at 63.6950. Brazilian real was -0.01% weaker than the open at today’s close, when it ended at 2.3321 reais per dollar. Pakistan rupee was weaker -0.11% trading at 107.5242. Vietnamese dong was unchanged at 21098. Mexican peso was +0.05% stronger today, when it traded at 13.2090 pesos per dollar by the close of business today. Chinese yuan was weaker -0.01% at 6.0916. Argentine peso was -0.03% weaker at 5.9729 pesos per dollar. Tags: foreign exchange rates
Oryza Rice Currency Analysis for Today – India Rupee Continues to Fall U.S. dollar index was up +0.13% from the open today, when it traded at 81.195 at the close. Euro was +0.16% higher today by the close, trading around 1.3428 by end of day, after trading between an
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intraday high of 1.3456 and low of 1.3359. Thai baht was stronger +0.08%, trading at 31.625 at the close of business. Indian rupee was -0.72% weaker, trading at 63.6950. Brazilian real was -0.01% weaker than the open at today’s close, when it ended at 2.3321 reais per dollar. Pakistan rupee was weaker -0.11% trading at 107.5242. Vietnamese dong was unchanged at 21098. Mexican peso was +0.05% stronger today, when it traded at 13.2090 pesos per dollar by the close of business today. Chinese yuan was weaker -0.01% at 6.0916. Argentine peso was -0.03% weaker at 5.9729 pesos per dollar. Tags: foreign exchange rates
Oryza Afternoon Recap – Chicago Rough Rice Futures Tumble as Selling Pressure Builds; Chart Stages Bearish Reversal Nov 12, 2013
Chicago rough rice futures for January delivery settled 10 cents per cwt (about $2 per ton) lower at $15.530 per cwt (about $342 per ton). Rough rice futures turned negative today as prices faced firm technical resistance from the upper Bollinger band, noted at $15.757 per cwt (about $347 per ton) today. Selling pressure intensified as the trading session continued and by the afternoon prices had fallen to a 15 cent per cwt (about $3 per ton) loss on the session. In addition to technical pressures additional selling was likely triggered by a bearish turn in the corn and wheat pits; soybeans finished the day about 1% higher at $13.1925 per bushel; wheat finished about 0.2% lower at $6.4525 per bushel; and corn finished the day about 0.6% lower at $4.3225 per bushel.U.S. stocks declined on Tuesday, with Wall Street slipping after a two-session rise that had the Dow Jones Industrial Average hitting a record close and the S&P 500 coming to within a point of its all-time finish, as Wall Street considered the timing of any moves by the Federal Reserve to curb stimulus. After fluctuating on either side of neutral, the Dow Jones Industrial Average posted modest losses. Utilities and financials led sector losses and telecommunications and technology its gains on the S&P 500. The Nasdaq also lost ground, after initially fluctuating on either side of neutral. U.S. stock markets are currently trading down about 0.4%, gold is trading about 0.9% lower, crude oil is seen trading about 2.2% lower, and the U.S. dollar is seen trading about 0.1% higher at about 2:00pm Chicago time.Turning to the daily continuation chart of Chicago rough rice futures for
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January delivery, today’s action confirmed yesterday’s topping formation and prices moved lower after a morning attempt to rally failed. The market did manage to chart out a fresh near-term high of $15.765 per cwt (about $348 per ton), however it also broke through and closed below yesterday’s session low. Technicians see this as a negative technical development known as a “bearish engulfing” pattern and forecasts are for prices to continue lower tomorrow. Today’s losses were limited by underlying support provided by the 50-day moving average, seen at $15.475 per cwt (about $341 per ton), a level that will likely come into play again during the coming trading sessions. Today’s trading range is noted as $15.480-$15.765 per cwt (about $341-$348 per ton).Monday, there were 538 contracts traded, up from 510 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 52 contracts to 8,460. Tags: chicago rough rice futures, U.S. rice market, U.S. rice prices
Oryza Afternoon Recap – Chicago Rough Rice Futures Tumble as Selling Pressure Builds; Chart Stages Bearish Reversal Nov 12, 2013
Chicago rough rice futures for January delivery settled 10 cents per cwt (about $2 per ton) lower at $15.530 per cwt (about $342 per ton). Rough rice futures turned negative today as prices faced firm technical resistance from the upper Bollinger band, noted at $15.757 per cwt (about $347 per ton) today. Selling pressure intensified as the trading session continued and by the afternoon prices had fallen to a 15 cent per cwt (about $3 per ton) loss on the session. In addition to technical pressures additional selling was likely triggered by a bearish turn in the corn and wheat pits; soybeans finished the day about 1% higher at $13.1925 per bushel; wheat finished about 0.2% lower at $6.4525 per bushel; and corn finished the day about 0.6% lower at $4.3225 per bushel.U.S. stocks declined on Tuesday, with Wall Street slipping after a two-session rise that had the Dow Jones Industrial Average hitting a record close and the S&P 500 coming to within a point of its all-time finish, as Wall Street considered the timing of any moves by the Federal Reserve to curb stimulus. After fluctuating on either side of neutral, the Dow Jones Industrial Average posted modest losses. Utilities and financials led sector losses and telecommunications and technology its gains on the S&P 500. The Nasdaq also lost ground, after initially fluctuating on either side of neutral. U.S. stock markets are currently trading down about 0.4%, gold is trading about 0.9% lower, crude oil is seen trading about 2.2% lower, and the U.S. dollar is seen trading about 0.1% higher at about 2:00pm Chicago time.Turning to the daily continuation chart of Chicago rough rice futures for January delivery, today’s action confirmed yesterday’s topping formation and prices moved lower after a morning attempt to rally failed. The market did manage to chart out a fresh near-term high of $15.765 per cwt (about $348 per ton), however it also broke through and closed below yesterday’s session low. Technicians see this as a negative technical development known as a “bearish engulfing” pattern and forecasts are for prices to continue lower tomorrow. Today’s losses were limited by underlying support provided by the 50-day moving average, seen at $15.475 per cwt (about $341 per ton), a level that will likely come into play again during the coming trading sessions. Today’s trading range is noted as $15.480-$15.765 per cwt (about $341-$348 per ton).Monday, there were 538 contracts traded, up from 510 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 52 contracts to 8,460. Tags: chicago rough rice futures, U.S. rice market, U.S. rice prices
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Oryza U.S. Rough Rice Recap – Market Remains Firm Despite Limited Trade; Harvest Now Complete Nov 12, 2013
The U.S. cash market continues to remain firm despite limited trade activity as sellers hold out for higher prices as supplies tighten. Some analysts contend that buyers will likely have to pay up to get farmers to move their rice although most insist that there is very little demand at the levels needed for that to occur.Offers increased to around $15.65-$16.66 per fob farm (about $345-$367 per ton), depending on where they are located in the U.S. mid-South, for November through December shipment. Bids from most larger mills decreased to around $14.90 per cwt (about $328 per ton ) while bids from exporters could still be seen around $15.40 per cwt (about $340 per ton), both for November through December delivery, however no trades were reported although there were rumors of next year’s crop trading around $14.40 per cwt (about $317 per ton) for delivery before the end of 2014.In the meantime, the USDA released their crop progress report today however the harvest progress for Rice was omitted indicating that the rice harvest is, for all intents and purposes, complete. Tags: U.S. rice prices, U.S. rice, U.S. rice market
Brazil Paddy Rice Index Declines Slightly Last Week
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Nov 12, 2013
The Brazilian paddy rice index maintained by CEPEA continued to decline slightly last week, reaching around 33.65 real per 50 kilograms on November 11, 2013, compared to around 33.6 real per 50 kilograms recorded on November 4, 2013.However, the index declined sharply last week in terms of USD per ton, reaching around $289 per ton (using current exchange rates) on November 11, 2013, down about 3% from around $299 per ton (using historical exchange rates) seen a week earlier on November 4, 2013. Tags: Brazil paddy rice index cepea
Oryza Global Rice Quotes November 13th, 2013
Long grain white rice - high quality Thailand 100% B grade 410-420 Vietnam 5% broken 395-405 ↔ India 5% broken 410-420 ↔ Pakistan 5% broken 375-385 ↔ Cambodia 5% broken 455-465 ↔ U.S. 4% broken 595-605 ↔ Uruguay 5% broken 615-625 ↔ Argentina 5% broken 615-625 ↔ Long grain white rice - low quality Thailand 25% broken 380-390 ↔ Vietnam 25% broken 365-375 ↔ Pakistan 25% broken 335-345 ↔ Cambodia 25% broken 425-435 India 25% broken 370-380 ↔ U.S. 15% broken 570-580 ↔
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Long grain parboiled rice Thailand parboiled 100% stxd 445-455 Pakistan parboiled 5% broken stxd 410-420 India parboiled 5% broken stxd 380-390 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken 590-600 ↔ Uruguay parboiled 5% broken NQ ↔
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Long grain fragrant rice Thailand Hommali 92% 1050-1060 Vietnam Jasmine 565-575 ↔ India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ ↔ Cambodia Pkha Malis 920-930 ↔ Brokens Thailand A1 Super 345-355 ↔ Vietnam 100% broken 345-355 Pakistan 100% broken stxd 335-345 Cambodia A1 Super 380-390 ↔ India 100% Broken stxd 310-320 Egypt medium grain brokens NQ ↔ U.S. pet food 370-380 ↔ Brazil half grain 345-355 ↔ Medium grain milled U.S. Calrose 4% broken Egypt medium grain 6%
620-630 NQ ↔
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↔ All prices USD per ton, FOB vessel, oryza.com
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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
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