16th September , 2014
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TOP Contents - Tailored for YOU Latest News Headlines… Brazil Conab Lowers 2013-14 Paddy Rice Production Forecast to 12.16 Million Tons, Slightly Down m/m and Up 3% y/y Brazil Exports 840,387 Tons of Rice in First Eight Months of 2014 Global Rice Quotes USDA Forecasts 2014-15 Global Milled Rice Production at 477 Million Tons, Slightly Up from Last Year Oryza Afternoon Recap - Chicago Rough Rice Futures Remain Quiet and Continue to Feel Pressure from Bearish Grain Complex Korea Develops Nutrient-Rich Rice Varieties Oryza U.S. Rough Rice Recap - Prices Continue to Firm as Harvest Drags Behind Oryza Overnight Recap - Chicago Rough Rice Futures Continue to Face Headwind Following Rally Late Last Week India Non-basmati Rice Exporters Plan to Tap Lucrative China Market Pakistan Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Thai Commerce Minister Pledges Minimal Intervention in Rice Market Thailand Suspends "Rice for High-Speed Rail" Project with China USDA Forecasts 2014 Global Rice Trade at 41.25 Million Tons, Up 5% from Last Year
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Brazil Conab Lowers 2013-14 Paddy Rice Production Forecast to 12.16 Million Tons, Slightly Down m/m and Up 3% y/y
Sep 16, 2014
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Brazil’s National Grains Supply Company (Conab) has lowered its paddy rice production forecast for 2013-14 to around 12.162 million tons, slightly down from its August estimate of around 12.182 million tons, and up about 3% from around 11.82 million tons produced in 2012-13.In its September 2014 estimates, Conab has lowered its estimates for 2013-14 rice acreage to around 2.387 million hectares, slightly down from previous estimates of around 2.396 million hectares, and slightly down from around 2.399 million hectares in 201213.Rice acreage in the key rice growing Centro-Sul (Center-South) region is projected at 1.578 million hectares in 2013-14, almost unchanged from its previous estimates, and up about 4% from around 1.520 million hectares in 2012-13. However, rice acreage in the North and Northeast regions is expected to decline to about 808,400 hectares, down about 1% from its previous estimates of around 817,900 hectares, and down about 8% from around 880,100 hectares in 2012-13.Average rice yield in Brazil in 2013-14 is projected at around 5.095 tons per hectare, slightly up from previous estimates of around 5.083 tons per hectare, and up about 3% from around 4.93 tons per hectare recorded in the previous year, according to Conab Tags: brazil paddy production, Brazil paddy rice acreage, Brazil paddy yield, Conab
Brazil Exports 840,387 Tons of Rice in First Eight Months of 2014
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Sep 16, 2014 Brazil has exported around 557,063 tons of rice in January - August 2014 according to data released by the Rice Institute of Rio Grande do Sul (IRGA).Venezuela remained the largest importer of Brazilian rice in January - August 2014 with 141,524 tons, or about 17% of total Brazil's rice exports during the period.
Cuba accounted for 115,329 tons (about 14% of total Brazil's exports during the first eight months of 2014); Sierra Leone accounted for 98,747 tons (about 12% of total Brazil's exports during the eight-month period); Senegal accounted for 80,209 tons (about 10% of Brazil's exports during the eight-month period); and Gambia and Nicaragua accounted for 9% and 8% of total rice exports during the January - August 2014 period with 72,253 tons and 65,739 tons respectively.Brazil's National Grains Supply Company (Conab) estimates Brazil to produce around 12.16 million tons of paddy rice in 2013-14, up about 3% from around 11.82 million tons produced in 2012-13.USDA estimates Brazil to produce around 12.28 million tons of rice, basis paddy (around 8.35 million tons, basis milled) in MY 2014-15(April - March), up about 0.5% from around 12.21 million tons of rice, basis paddy (around 8.3 million tons, basis milled) in MY 2013-14. It estimates Brazil to export around 950,000 tons in 2014, up about 13% from around 840,000 tons exported in 2013.
Tags:Brazil rice production, Brazil rice exports, IRGA
Global Rice Quotes Oryza Global Rice Quotes September 16th, 2014 Long grain white rice - high quality Thailand 100% B grade 440-450
↔
Vietnam 5% broken
440-450
↔
India 5% broken
435-445
↔
Pakistan 5% broken
420-430
↓
Cambodia 5% broken
465-475
↔
U.S. 4% broken 525-535
↔
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Uruguay 5% broken
610-620
↔
Argentina 5% broken
610-620
↔
Long grain white rice - low quality Thailand 25% broken
NQ
↔
Vietnam 25% broken
400-410
↔
Pakistan 25% broken
370-380
↔
Cambodia 25% broken 450-460
↔
India 25% broken
390-400
↔
U.S. 15% broken
515-525
↔
Long grain parboiled rice Thailand parboiled 100% stxd
430-440
Pakistan parboiled 5% broken stxd
↔
440-450
India parboiled 5% broken stxd 420-430
↔
U.S. parboiled 4% broken
600-610
↔
Brazil parboiled 5% broken
595-605
↔
Uruguay parboiled 5% broken NQ
↔
↔
Long grain fragrant rice Thailand Hommali 92% 1060-1070
↔
Vietnam Jasmine
↔
590-600
India basmati 2% broken
NQ
↔
Pakistan basmati 2% broken
NQ
↔
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Cambodia Phka Malis
880-890
↔
Brokens Thailand A1 Super
NQ
↔
Vietnam 100% broken 340-350 Pakistan 100% broken stxd Cambodia A1 Super
↔
325-335
360-370
↔
India 100% Broken stxd 330-340
↔
Egypt medium grain brokens
NQ
↔
U.S. pet food
↔
460-470
Brazil half grain NQ
↔
↔
All prices USD per ton, FOB vessel, oryza.com
USDA Forecasts 2014-15 Global Milled Rice Production at 477 Million Tons, Slightly Up from Last Year Sep 16, 2014
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In its September Rice Outlook report, USDA has forecasted 2014-15 global milled rice production at around 477 million tons, slightly up from an estimated 476.1 million tons in 2013-14 but slightly down from its last month's estimates of around 477.4 million tons.USDA forecasts 2014-15 global rice acreage at around 161 million hectares, slightly up from last year, due to expected increase in rice area in Cambodia, China, Indonesia, the Philippines and the U.S. It has forecasted the average global yield at 4.42 tons per hectare (on rough rice basis), almost unchanged from last year.
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According to the latest projections, USDA expects lower output from the U.S., North and South Korea as well as the European Union due to adverse weather conditions. But the lower output from these countries is likely to offset by increased output from Australia, Guyana and Cuba.USDA estimates 2014-15 global rice consumption and residual use at record 481.8 million tons, up about 1% from last year, and slightly down from its last month's projections of 482.1 million tons. Major increases are likely in Bangladesh, Burma, China, India, Indonesia, the Philippines, and the U.S.The U.S. agency estimates 2014-15 global rice ending stocks at around 105.1 million tons, down about 4% from last year's 109.3 million tons and slightly down from 105.4 million tons last year due to likely decline in Thailand rice stocks. It estimates 2014-15 global stocks-to-use ratio at 21.8%, down from last year's 23.1%.year earlier. Tags: USDA, Global milled rice production, Global rice acreage, Global rice consumption, Global rice ending stocks
Oryza Afternoon Recap - Chicago Rough Rice Futures Remain Quiet and Continue to Feel Pressure from Bearish Grain Complex Sep 16, 2014
Chicago rough rice futures for Nov delivery settled 4.5 cents per cwt (about $1 per ton) lower at $12.715 per cwt (about $280 per ton). Rough rice futures remain on the defensive this week, with a lack of follow-though buying following last week’s supportive report leaving prices to be weighed down by bearishness in the other grain markets. The other grains continue to feel harvest pressure and closed mostly lower again today; soybeans closed about 0.9% lower at $9.8075 per bushel; wheat finished about 0.9% lower at $4.9625 per bushel, and corn finished the day about 0.2% higher at $3.4475 per bushel.U.S. stocks ran sharply higher on Tuesday, with Dow industrials striking a record, as energy companies gained along with the price of crude. The Fed's two-day policy meeting ends on Wednesday, with the central bank expected to release a statement at 2 p.m. Eastern, and a news conference 30 minutes later. Also bolstering equities and commodities was a Bloomberg report that the People's Bank of China began a 500 billion yuan standing lending-facility to the country's five largest banks. After hitting an intraday record, the Dow Jones Industrial Average was lately up 128.38 points, or 0.8%, at 17,159.52. The S&P 500 added 17.84 points, or 0.9 percent, to 2,001.97, with energy leading sector gains that included all 10 major industry groups. A day after hits worst session since July 31, the
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Nasdaq added 34.81 points, or 0.8 percent, to 4,553.71. Gold is trading about 0.2% higher, crude oil is seen trading about 2.2% higher, and the U.S. dollar is seen trading about 0.3% lower at about 1:00pm Chicago time.Monday, there were 377 contracts traded, down from 660 contracts traded on Friday. Open interest – the number of contracts outstanding – on Friday increased by 70 contracts to 8,940. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Korea Develops Nutrient-Rich Rice Varieties Sep 16, 2014
The Rural Development Administration (RDA) of South Korea has developed a range of new rice varieties that are rich in nutrients and have some medicinal properties, according to local sources. They can be useful in promoting growth, treating certain diseases and lessen ageing. Some of them also have anti-oxidant properties.Rice varieties Haiami and Yeongan are especially useful for growing kids. They have high level of amino acids, which help in protecting bone cartilage and ligaments. Keunnun and Samkwang varieties are germinated brown rice and can be used to prevent certain neurological diseases. Similarly, Heugkwang, Heugjinju and Geonganghongmi varieties are rich in anti-oxidants, which can be useful in reducing anti-aging effects, and dietary fiber. Some varieties such as Milyang236 variety can be used to treat hyper-tension. Goami2 and Goami3 varieties help in absorbing sugar or neutral fat more effectively. Josaengheugchal and Nunkeunheugchal varieties are useful in providing balanced metabolism.The RDA is reportedly collaborating with more health universities to develop more such rice varieties. It is planning to come up with 10 more rice varieties by 2017. Tags: Korea rice varieties, anti-oxidants, nutrients, growth
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Oryza U.S. Rough Rice Recap - Prices Continue to Firm as Harvest Drags Behind Sep 16, 2014
The U.S. cash market was firmer again today with concerns about the harvest running behind schedule mounting and reports that some buyers are willing to pay higher prices to shake rice lose to meet their demand. As of today, offers increased to around $13.33 per cwt fob farm (about $294 per ton) while bids increased to around $13.00-$13.40 per cwt (about $281-$287 per ton) for September-October delivery however there were reports of rice trading around $13.20 per cwt (about $291 per ton) for nearby delivery.In the meantime, the USDA estimates that as of Sep 14th, 36% of the U.S. rice crop has be harvested which 3% ahead of last year but 9% less than the previous 5-year average. As of now, the USDA estimates that 30% of the rice crop in Arkansas has been harvested compared to 5% in California, 87% in Louisiana, 31% in Mississippi, 13% in Missouri, and 90% in Texas. The USDA also considers 74% of the U.S. to be in good to excellent condition, which was unchanged from last week and 1% better than this time last year, compared to 67% in Arkansas, 80% in California, 85% in Louisiana, 86% in Mississippi, 68% in Missouri, and 60% in Texas. Tags: U.S. rice prices, U.S. rice market
Oryza Overnight Recap - Chicago Rough Rice Futures Continue to Face Headwind Following Rally Late Last Week Sep 16, 2014
Chicago rough rice futures for Nov delivery are seen 5 cents per cwt (about $1 per ton) lower at $12.710 per cwt (about $280 per ton) during early floor trading in Chicago. The other grains are seen trading lower this morning: soybeans are currently seen 0.7% lower, wheat is listed about 0.9% lower and corn is noted about 0.7% lower.
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U.S. stocks started lower on Tuesday, with the S&P 500 extending declines into a third session, as investors considered whether the Federal Reserve would change the language on the likely timing of interest-rate hikes expected in 2015. Before the open, stock futures retained modest losses after data showed producer prices held flat in August, illustrating little-to-no inflation pressure that could otherwise push the Fed to hike rates sooner instead of later. The Fed's two-day policy meeting ends on Wednesday, with the central bank expected to release a statement at 2 p.m. Eastern, and a news conference 30 minutes later. The Dow Jones Industrial Average dropped 26.64 points, or 0.2%, to 17,004.50. The S&P 500 shed 2.74 points, or 0.2%, to 1,981.39, with consumer discretionary the hardest hit of its 10 major sectors and utilities faring the best. A day after hits worst session since July 31, the Nasdaq dropped 13.40 points, or 0.3%, to 4,505.50. Gold is currently trading about 0.1% higher, crude oil is seen trading about 0.5% higher, and the U.S. dollar is currently trading about 0.1% lower at 8:45am Chicago time. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
India Non-basmati Rice Exporters Plan to Tap Lucrative China Market Sep 16, 2014
Indian non-basmati rice exporters are keen to enter the lucrative China rice import market and are urging the government to discuss the issue with the Chinese Premier, who is visiting India this week, according to local sources.India's non-basmati rice exports are denied by China as there is no defined protocol on phyto-sanitary norms between the two countries. The exporters are therefore urging the government to discuss this matter with the Chinese Prime Minister. They say the quality of Indian non-basmati rice is reasonably good and there is no reason for China to reject it, adding that they can provide China with better prices and wider varieties of rice.Some exporters expressed doubt if Indian non-basmati rice is being denied by China for political reasons. They want the government to resolve this issue with China. They also noted that since the percentage of levy rice procurement has been cut down by the government to 25%, there would be excess non-
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basmati rice available in the market and any increase in exports would be beneficial to the farmers as well as for the Indian rice sector. Demand for rice in China is steadily increasing and its imports are likely to near about 2.6 million tons in 2014 and about 3.5 million tons in 2015 according to USDA. China imported about 2.3 million tons of rice in 2013. It mostly imports rice from Vietnam, Pakistan and Thailand.India has risen as the world's biggest rice exporter in the last few years with annual exports reaching about 10 million tons. India has been mainly exporting basmati rice mainly to the Middle East countries and non-basmati rice to African countries, Russia and Ukraine.China allowed access to Indian basmati rice in 2012. India exported about 1,625 tons of basmati rice in 2012-13 (April - March) and about 1,744 tons in 2013-14 to China. Tags: India non-basmati rice exports, China rice imports, India basmati-rice exports to China
Pakistan Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Sep 16, 2014
Pakistan rice sellers lowered their quotes for 5% broken rice by about $5 per ton to around $420 - $430 per ton today. Other Asia sellers kept their quotes mostly unchanged. 5% Broken Rice Thailand 5% rice is quoted at around $425 - $435 per ton, about $15 per ton discount to Vietnam 5% rice quoted at around $440 - $450 per ton. India 5% rice is quoted at around $435 - $445 per ton, about $15 per ton premium on Pakistan 5% rice quoted at around $420 - $430 per ton, down about $5 per ton from yesterday. 25% Broken Rice Thailand 25% rice was last quoted at around $350 - $360 per ton, about $50 per ton discount to Vietnam 25% rice quoted at around $400 - $410 per ton. India 25% rice is quoted at around $390 - $400 per ton, about $20 per ton premium on Pakistan 25% rice quoted at around $370 - $380 per ton. Parboiled Rice
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Thailand parboiled rice is quoted at around $430 - $440 per ton. India parboiled rice is quoted at around $420 $430 per ton, about $20 per ton discount to Pakistan parboiled rice last quoted at around $440 - $450 per ton. 100% Broken Rice Thailand broken rice, A1 Super, was last quoted at around $310 - $320 per ton, about $35 per ton discount to Vietnam broken rice quoted at around $340 - $350 per ton. India broken sortexed rice is quoted at around $330 - $340 per ton, about $5 per ton premium on Pakistan broken sortexed rice quoted at around $325 - $335 per ton. Tags: Vietnam rice prices, India rice prices, pakistan rice prices, Thailand rice prices
Thai Commerce Minister Pledges Minimal Intervention in Rice Market Sep 16, 2014
Thailand's new Commerce Minister made it clear on his first day at the Ministry that his priority is to sell the 18 million tons of rice stocks at reasonable prices, according to local sources. The Minister also noted that the Ministry would not unnecessarily intervene in the rice market except for ensuring stable prices or fair returns to farmers. He expressed optimism that the price of white paddy rice in the upcoming harvest season would reach around 8,000 - 9,000 baht (around $248 - $278) per ton. He said the government is keen on helping farmers to increase per hectare yield while reducing production costs.He said the Ministry is planning to export more rice under government-to-government (G2G) and private-sector contracts, adding that they are planning to continue to sell rice from government stocks to overseas buyers irrespective of the prevailing domestic market prices.
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The Minister also noted that the Ministry is planning to invite the Iranian Ambassador for talks in this November as part of its efforts to find new markets for its rice. The Thai Rice Exporters Association (TREA) is expecting Thailand to export over 10 million tons of rice this year and reclaim its world number exporter status. Tags: Thai rice sector, Thai rice prices, Thai rice sales
Thailand Suspends "Rice for High-Speed Rail" Project with China Sep 16, 2014
Thailand had suspended the "Rice for High-Speed Rail" program with China last week citing huge price differential as the reason, according to local sources.China and Thailand struck the deal in October 2013, under which China would build a high-speed rail network in Thailand in exchange for its rice. However, doubts arose on the continuation of this project in February 2014 due to political disturbances in Thailand. One of China's stateowned enterprises cancelled a deal to buy 1.2 million tons of rice from Thailand after the National Anti-Corruption Commission (NACC) began probe into the controversial rice pledging scheme. Thai Commerce Minister said last week that the project is being suspended because of large price differences between Thai rice and high-speed rail technology. He noted that both the governments are working out other means to continue the project by , adding that China is keen on making infrastructure investment in Thailand. He, however said Thailand still prefers high-speed rail project in exchange for any other product other than rice. Leaving the Commerce Minister's explanations aside, analysts say China's cancellation of Thai rice deal could have instigated Thailand to suspend the deal with China. Political analysts opine that Thailand could have suspended the project due to security concerns as well as fear of Chinese domination.
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Tags: Thailand rice exports, China rice imports, Rice for High-Speed Rail
USDA Forecasts 2014 Global Rice Trade at 41.25 Million Tons, Up 5% from Last Year Sep 16, 2014
In its September Rice Outlook report, USDA has forecasted 2014 global rice trade at around 41.25 million tons, up about 5% from around 39.35 million tons in 2013, and up about 1% from its last month’s forecast of around 40.75 million tons due to near-record imports by China and Sub-Saharan Africa and large supplies of exportable rice in Asia.On the exports side, USDA estimates lower exports by the U.S. and India, India but estimates higher exports from Australia, Guyana, Thailand and Vietnam. On the imports side, it is estimating significant increases in imports by Egypt, Indonesia, Honduras, Malaysia, Nigeria, the Philippines, Syria, Taiwan, and Venezuela.USDA is forecasting 2015 global rice trade at around 41.2 million tons. Tags: USDA, Global rice exports, Global rice imports, Global rice trade
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