18th August, 2014
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TOP Contents - Tailored for YOU Jute packaging law gathers momentum Sohel Parvez
The government has taken a hard line to ensure rice packaging with jute sacks in the face of traders' continued non-compliance with the compulsory jute packaging law passed four years ago.The Department of Jute, under the textiles and jute ministry, last week started a drive through mobile court to compel the millers and traders to use the environment-friendly jute sacks to pack rice for marketing domestically.―We gave a lot of time for voluntary compliance with the law. We also ran motivational campaigns for six months since January. From now on, we will enforce the law,‖ State Minister for Textiles and Jute Mirza Azam told The Daily Star last week.―We have taken a hard line on the issue and there is no way we would retract from the position. We have sought cooperation from all the related government agencies to enforce the law,‖ he added. The move comes after the Supreme Court reinstated a government decision that asked rice millers and traders to use jute sacks compulsorily from January to pack the staple rice.The Supreme Court issued the order after the High Court last month stayed the effectiveness of the government notification following a writ petition by some rice millers.The government issued the notification on September last year, asking all rice millers and traders to clear their stock of plastic bags by December 31 last year.However, private sector businesses remain noncompliant, citing reasons such as higher costs of jute sacks compared to poly-propylene or plastic bags and problems in branding. Millers said the burden for compliance with the law will be passed on to the consumers in the form of higher rice prices. Azam, though, termed this point as an excuse for non-compliance. ―They have been giving this excuse for a long time now. Let the general public voice this. If the people of Bangladesh say they are being affected by the law, then we will change it.‖ He said increased domestic use of jute has now become vital to help save the jute sector. ―It is a question of survival of jute growers and sustenance of our jute industry.‖The jute industry, which involves about 40 lakh farmers and 150,000 workers, has been suffering from an acute downturn in exports earnings owing to the Middle East crisis and a slump in demand in from Africa, Thailand and India.Exports receipts fell 20 percent year-on-year to $824 million in fiscal 2013-14, according to data from the Export Promotion Bureau.The descent continued into the new fiscal year, with export earnings dropping 24 percent year-on-year to $61 million in the opening month of fiscal 201415.Industry operators said three-fourths of the domestically-produced jute is exported in raw or processed forms in the absence of domestic demand.
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The government in 2010 passed a law that made the packaging of certain percentage of food items and fertilisers mandatory in a bid to cushion the sector against the vagaries of global demand and cut the use of the environmentally harmful polypropylene bags.Mohammed Kefayet Ullah, a director of the Department of Jute, said the department conducted six mobile courts in Dhaka, Jamalpur and Khulna to ensure compliance with the law. The courts also fined some rice millers, he said.―The rice millers have started contacting us to get hold of jute sacks. We are working to ensure availability of jute sacks. ‖ He said sales centres will be opened in places where there is no jute mill. The prices for a 50kg jute sack may be fixed at Tk 40-45, he added.Meanwhile, Humayun Khaled, chairman of the Bangladesh Jute Mills Corporation, said the use of jute sacks for packaging by local millers and traders will go some way towards helping the sector withstand the downfall in global demand.The public and private jute mills can produce more than 100 crore pieces of jute sacks a year, but at present they are making only 40-50 crore pieces of sacks a year, according to an estimate of the Bangladesh Jute Mills Association. Khaled said the compulsory use of jute for packaging food grains will create an additional demand for 50 crore pieces of jute sacks a year.At present, government agencies such as the Directorate General of Food, the Bangladesh Agricultural Development Corporation and the Bangladesh Sugar and Food Industries Corporation use jute sacks for packaging. Published: 12:00 am Sunday, August 17, 2014 TAGS: rice packaging Department of Jute textiles and jute ministry
environment-friendly jute sacks
Southwest Louisiana residents appointed to Louisiana Rice Research Board Posted: Aug 15, 2014 3:21 PM PDTUpdated: Aug 15, 2014 3:21 PM PDT By Anne Robicheaux - email SOUTHWEST LOUISIANA (KPLC) -Several Southwest Louisiana residents have been appointed to the Louisiana Rice Research Board by Gov. Bobby Jindal. Among the appointees are: Clarence Berken of Lake Arthur, co-owner of Clarence Berken Farms. Donald Berken of Welsh, a self-employed farmer and member of the USA Rice Federation Environmental Regulatory Subcommittee. Richard Damian Bollich of Jones, a rice and soybean farmer. Jude Doise of Elton, co-owner of Doise Farms, Inc. Richard Fontenot of Ville Platte, a selfemployed farmer. Michael Fruge of Eunice, the Louisiana/Texas District Sales Manager for Horizon Ag. Dane Hebert of Maurice, a self-
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employed farmer. Phillip Lamartiniere of Marksville, owner of L&P Rice Farming. Paul "Jackie" Loewer Jr. of Branch, a rice and soybean farmer. Samuel Noel of Abbeville, a self-employed farmer. Ronald Sonnier of Kinder, a self-employed farmer. Dr. Mike Strain of Covington, Commissioner of Agriculture. Jason Waller of Mer Rouge, farmer and president of the Northeast Louisiana Rice Growers Association. Brian Wild of Lake Charles, a self-employed farmer. Frederick Zaunbrecher of Duson, a self-employed producer and landowner.
"The Louisiana Rice Research Board administers rice research check-off funds collected by the Louisiana Department of Agriculture and Forestry, selects projects for funding and reviews the progress of research," said the Governor's Office in a statement. The board consists of 15 members, including the Commissioner of Agriculture, six members from a list of appointees by the Louisiana Farm Bureau Federation, Inc., five members from a list of appointees by the Louisiana Rice Growers Association, two members appointed from a list of appointees by the American Rice Growers Association and one member from a list of appointees by the Louisiana Independent Rice Growers Association. Copyright 2014 KPLC. All rights reserved.
Car imports/rice exports BUSINESS LEISURE By Ray Butch Gamboa (The Philippine Star) | Updated August 16, 2014 - 12:00am Here are a couple of interesting business issues I gathered in the past week which I wish to share with you.
One is the 4th Thought Leadership Forum that the Association of Vehicle Importers & Distributors (AVID) held recently at the AIM Conference Center. The speakers in the said forum, a brainchild of its president Ms. Fe Perez-Agudo who sits at the helm of Hyundai Asia Resources Inc. (HARI), spoke of the urgency of having a competitive Philippine automotive industry NOW before the ASEAN Free Trade Agreement catches us flatfooted again. The two top officers of AVID, Albert Arcilla who is also President of The Covenant Car Co. Inc.(Chevrolet Philippines) and Viking Cars (Volvo Philippines), and Fe Agudo urge tndustry players to be competitive as the Philippines would have a much larger field to move around in with the forthcoming trade liberalization agreement between the 10-member ASEAN block. The shared responsibility of the private and public sectors is to encourage business sustainability, which is why Ms. Agudo urged the government to re-think the industry roadmap. Dr. Cielito H. Habito, one of the country’s most eminent economists (Bachelor of Science in Agricultural Economics, Summa Cum Laude, University of the Phil., Master of Arts In Eco, PhD, Harvard University, Master of Economics, University of New England in Australia) spoke about the role of the USAID TradeRelated Assistance for Development Project and how this could be pivotal in the forthcoming ASEAN economic integration.
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Dr. Federico Macaranas, another Economics graduate of the University of the Philippines and a holder of a doctorate degree in Economics from Purdue University and now a full professor at the Asian Institute of Management, spoke of how, 15 years ago, he cited in a speech that China would be the No. 1 car producer in the world. That was met with a lot of skepticism back then as China was over-populated with very little resources to feed its people. Well, it’s happening now — China has leap-frogged over other developed nations in terms of manufacturing and technology, while another backward and over-populated country back then, India, is now a major player in the automotive industry. The eminent economist stressed how important it is to invest in parts and components technology lest the Philippines be left out. He mentioned, and I agree, that we must not always insist on local content if this does not represent the best and most efficient. Business ( Article MRec ), pagematch: 1, sectionmatch: 1
Dr. Macaranas also proudly mentioned that Philippine Intellectual Property Rights laws are among the best, if not the best, in the region. We are still among the poorest in science, technology and engineering, however, and this is crucial to economic growth for any developing nation. The last speaker was Dr. Rafaelita Aldaba, newly-appointed assistant secretary of the Dept. of Trade & Industry, another proud graduate of the University of the Philippines, having earned her Master’s and Doctorate degrees there, with further studies on Int’l. Economic Policy at the Kiel Institute of World Economy in Germany. Dr. Aldaba is an eloquent speaker, but the lady could only do so much to defend the government she serves when asked by a member of the audience: whatever happened to the industry roadmap that was promised to us a long time ago? The Thought Leadership Forum was one good exchange of valuable inputs for the automotive industry, and though I believe that change will not happen overnight just because AFTA is finally here, the longer we take to attain competitiveness in the region, the less likely it will become a reality for us. The second is this: SL Agritech Corporation, the country’s leading hybrid seed producer, is now exporting not just the hybrid seeds, but also the hybrid technology as well. S L Agritech is a division of the Sterling Group of companies and is one of the pioneers of the hybrid rice technology, which according to Dr. Frisco Malabanan, consultant for the company, is excellent for countries with a long stretch of wet season like the Philippines. SL Agritech has already shipped the seeds to Papua New Guinea and intend to plant as much as 30 hectares of land to hybrid rice. Papua New Guinea is not a rice-producing country, yet the government there is interested in cultivating their large unplanted fields to hybrid rice. SSL Agritech produces the hybrid seeds here and exports these to other tropical Asian countries.
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It is a pity that not too many of our rice farmers here have adopted hybrid rice when it is much more costeffective than the traditional rice seeds. According to Dr. Malabanan, for the traditional rice seeds or inbred rice, cost of production which includes the last stage of threshing is between P35,000 – 40,000/hectare while the cost of hybrid rice seeds is somewhere between P30,000–P50,000/hectare. Income for inbred rice seeds is anywhere between P50,000–P60,000/hectare, while for hybrid, it is anywhere from P70,000– P150,000/hectare. In Nueva Ecija, according to the SL Agritech consultant, which is an area where the hybrid technology has been embraced by many of its rice farmers, income has been reported to be as high as P200,000/hectare. That hybrid rice definitely gives a much better yield has been over-emphasized by the technology developers, yet our rice farmers are still very reluctant to go into it. SL Agritech is already into commercial scale production of its hybrid rice seeds and is set to conquer many foreign lands. It is now the No. 1 hybrid seed company in tropical Asia. Yet, our very own farmers have yet to get their feet wet in this technology. Why is that? The key still lies in info technology, and the burden here lies with the government. With a yield that translates to almost triple that of the traditional rice seeds, the small farmers can indeed realize bigger profits from their land and on a bigger scale, the country can attain rice sufficiency in just a few years. We are a rice-producing and rice-eating land, and we should be able to do much more than aim for the smaller niche in the global market where red, brown and black rice belong. Our premium white rice like theJasponica and Miponica, the more popular varieties of the local Dona Maria brand, is just as white, just as fragrant and just as fluffy as the muchtouted Japanese and Jasmine rice of Thailand. We already have the rice technology – why have we not reached their stature in the global market? Mabuhay!!! Be proud to be a Filipino. For comments (email) businessleisure-star@stv.com.ph / sunshine.television@yahoo.com
Romi appoints Rice Machinery as a New England distributor 8/15/2014 9:16:00 AM
Erlanger, KYRomi Machine Tools Ltd. has appointed Rice Machinery, Inc. as its distributor for Rhode Island, Massachusetts, Connecticut, New Hampshire, and MaineFounded in 1968, Rice Machinery, Inc. has a solid reputation for its top quality machine tools and service above and beyond expectations. Rice offers a complete in-house CNC, demo, parts, and rebuilding department with 3 trucks on the road daily making service calls and deliveries. The headquarters facility has over 4,000 sq. feet of showroom space with a 15,000 sq. foot warehouse and 3 additional warehouses throughout the state.Rice will offer Romi Machine Tool sales and service including application assistance, training, repair and spare parts. Rice Machinery headquarters is located at: Rice Machinery
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1104 Pontiac Ave | Cranston, RI 02920 | Ph. (401) 781-3010 | ricemachinery.com Romi is one of the world's largest machine tool builders with an installed base of more than 150,000 machines. The company manufactures metal cutting machine tools, plastic injection molding machinery at its 9-plant, 1.5million sq. ft. industrial complex in Santa Barbara d'Oeste, Brazil. Romi's captive foundry supplies castings for its own line of machine tools as well as for other customers around the world. The company services US customers from its Erlanger, KY facility.
Mallee Machinery Field Days GREGOR HEARD 17 Aug, 2014 04:00 AM
TAKE a look at the latest technology and innovation at the Mallee's premier field day with GREGOR HEARD. This year’s field days was marked by a capacity crowd of exhibitors and fantastic attendance levels, with people taking opportunity of the relatively mild late winter conditions to have a look around the Speed site (pictured below).Good level of interest LANCE Whitfield, Nelson Silos, Rochester, was pleased with the interest in his company’s range of field bins and silos again this year at the Mallee Machinery Field Days.“It seems like farmers now look at onfarm storage as something they need to have and there is a good level of interest every year,” Mr Whitfield (pictured above) said. Gason launches new range Phillip Rice, Gason southern area manager Phillip Rice, together with agent Bryan Hicks, Hicks Machinery, Horsham, believe the new Para Maxx range of seeders will have a good fit for many growers. TILLAGE manufacturer Gason has launched a new range of bars, with its Para Maxx series. Gason southern area
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manager Phillip Rice said the new seeder was a good all-rounder suitable for use in a range of situations and soil types.
―This machine will work well across lighter red country, right through to heavier grey clays,‖ Mr Rice said at last week’s Mallee Machinery Field Days.He said a feature of machine was the parallelogram opening system.―It is exceptional in terms of its trash handling capabilities and has consistent seed placement, whether equipped with a tyne or a double disc as the opener.Mr Rice said the machine was designed as an open bar, with wheels outside the frame, which he said had been well received by growers.The machine is on three rows, and can be customised with row spacings ranging between 300mm and 400mm.
Licences of rice millers will be withdrawn if they mix grains 16 AUGUST 2014 @ 9:53 PM
JITRA: The authorities will withdraw the licences of rice millers if they mix Thai rice grains with local rice for sale as local product.Agriculture and Agro-Based Industry Minister Datuk Seri Ismail Sabri Yaakob said there had been complaints that several local factories were suspected of such activities before selling the rice to locals under a local brand.He said the action of such irresponsible millers would affect local farmers, adding that the ministry would conduct close checks on millers who abused their licences. ―If we catch local factories which pack smuggled rice, we will cancel their licences immediately,‖ he told reporters after officiating the Kepala Batas Padi Buying Centre and the launch of the Agro-Bank Machinery Sponsorship in Kampung Baru, Telok Malek near here today.Meanwhile, Ismail Sabri said the government would give farmers two years to improve the production of quality padi without being dependant on the Padiberas Nasional Berhad (Bernas).
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Exclusive ORYZA NEWS Oryza Afternoon Recap - Chicago Rough Rice Futures End Week on Positive Note as Afternoon Recovery Sees Nearby Contract Close in Positive Territory; Developments in Europe Lead to Wheat Rally Aug 15, 2014
Chicago rough rice futures for Sep delivery settled 5 cents per cwt (about $1 per ton) higher at $12.905 per cwt (about $285 per ton). Rough rice futures made an afternoon recovery after spending the majority of the trading session in negative territory with the nearby contract managing to close above unchanged. Today’s move provides further confirmation that the market has indeed put in a technical floor near $12.600 per cwt (about $278 per ton) and that a bullish reversal is underway. Market participants note that the price action of the past two trading sessions provides a positive outlook for trade direction early next week. The other grains finished the day mostly higher, led by a rally in wheat as the market reacts to geopolitical developments in Europe; soybeans closed about 0.4% lower at $10.5200 per bushel; wheat finished about 2.6% higher at $5.5125 per bushel, and corn finished the day about 0.9% higher at $3.7700 per bushel.U.S. stocks declined on Friday, with the Dow falling more than 130 points as the major indices lost their morning gains on news of fresh conflict between Russia and Ukraine. After the reports of increased tension between Ukraine and Russia, bond yields fell to session lows, and gold prices dropped before recovering to trade near earlier levels. Crude oil gained. The Dow Jones Industrial Average lost most of its gains for the year as it dropped more than 100 points following the news. The economic data flow resumed in the U.S. on Friday, starting with the Producer Price Index that rose 0.1% in July, in line with expectations. The Empire State Manufacturing Index fell in August. Industrial Production rose 0.4%, with the highest rate of utilization since June 2006. Consumer sentiment was a disappointing 79.2, the lowest since November last year. At noon, the Dow Jones Industrial Average fell 101 points, or 0.61%, to 16,611. The S&P 500 fell 9 points, or 0.45%, to 1,946, with telecommunications the greatest laggard and utilities and energy the only gainers among the 10 sectors. The Nasdaq fell 17 points, or 0.39 percent, to 4,435. Gold is trading about 0.8% lower, crude oil is seen trading about 1.4% higher, and the U.S. dollar is seen trading about 0.2% lower at about 1:00pm Chicago time.Thursday, there were 1,950 contracts traded, up from
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773 contracts traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday decreased by 99 contracts to 9,527. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Iraq Rejects Offers in International Tender for Minimum 30,000 Tons of Rice Aug 15, 2014
The Iraq Grains Board (IGB) has rejected offers in an international tender to buy a minimum of 30,000 tons of rice, according to Reuters.Bids submitted by three companies were rejected due to high prices, a trade ministry official was quoted as saying.The international tender for buying at least 30,000 tons of rice was issued on August 5, 2014 from Uruguay, Argentina, Brazil, Vietnam, Thailand and the U.S. It was open until August 11 and the offers were valid till today. The tender was in place of a July 6, 2014 tender, bids for which were rejected due to high prices.Sources at the Trade Ministry indicated that a new tender would be issued next week. Tags: Iraq rice tenders, Iraq rice imports, Iraq Grain Board (IGB)
Pakistan Rice Sellers Lower Some of Their Quotes; Other Asia Rice Quotes Unchanged Today Aug 15, 2014
Pakistan rice sellers lowered their quotes for 5% broken rice by about $5 per ton to around $440 - $450 per ton today. Other Asia rice sellers kept their quotes mostly unchanged. 5% Broken Rice Thailand 5% rice is quoted at around $445 - $455 per ton, about $5 per ton discount to Vietnam 5% rice quoted at around $450 - $460 per ton. India 5% rice is quoted at around $435 - $445 per ton, about $5 per ton discount to Pakistan 5% rice quoted at around $440 - $450 per ton, down about $5 per ton from yesterday. 25% Broken Rice
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Thailand 25% rice was last quoted at around $350 - $360 per ton, about $55 per ton discount to Vietnam 25% rice quoted at around $405 - $415 per ton. India 25% rice is quoted at around $390 - $400 per ton, about $5 per ton discount to Pakistan 25% rice quoted at around $395 - $405 per ton. Parboiled Rice Thailand parboiled rice is quoted at around $445 - $455 per ton. India parboiled rice is quoted at around $425 $435 per ton, about $25 per ton discount to Pakistan parboiled rice quoted at around $450 - $460 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 $345 - $355 per ton. India broken sortexed rice is quoted at around $340 - $350 per ton, about $15 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
Vietnam Sets Up Modern Hybrid Rice Research Center to Boost Production and Exports Aug 15, 2014
A modern hybrid rice research center has been set up in Vietnam and is expected to increase Vietnam's hybrid rice production as well as reduce its dependence on imports, according to local sources. The center is set up by a global Swiss agri-business firm covering 4 hectares of land in Nam Dinh Province. It consists of latest facilities which support scientific research on rice hybridization.Currently, Vietnam cultivates hybrid rice in around 700,000 hectares of the 7.8 million hectares of total rice acreage in the country. Hybrid rice accounts for nearly 30 - 40% of Vietnam's total rice production. Vietnamese farmers import 70% of hybrid seeds from China. Vietnam needs between 15,000 tons and
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18,000 tons of hybrid seeds for cultivation every year, but the country is able to produce only 20-25% of the seeds needed. Most of the domestic hybrid-rice varieties are not able to compete with imported varieties. The government is keen on creating newer hybrid rice varieties in the country. The new center is expected to fill the gaps in hybrid rice production in the country. The government has been planning to increase area under hybrid rice cultivation to 800,000 hectares by 2015.The Deputy Director of the Ministry of Agriculture and Rural Development (MARD) noted that the establishment of the new center will help the country to improve Vietnam's capacity to produce hybrid rice and thereby lead to stable domestic supply and also improve rice output and quality. She added that Vietnam rice scientists and researchers can now gain access to gene sources from different parts of the world and apply modern techniques to rice production. Tags: Hybrid rice production, Vietnam rice production, Vietnam rice exports
USDA Forecasts 2014 Global Milled Rice Trade at 40.75 Million Tons, Up 3% from Last Year Aug 15, 2014
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USDA has forecasted 2014 global milled rice trade at around 40.75 million tons, up about 3% from an estimated 39.45 million tons in 2013 largely due to near-record imports by China, Bangladesh, Indonesia and Sub-Saharan Africa as well as significant increase in Thailand exports. In its August Rice Outlook report, USDA estimates China rice imports to reach a record 3.5 million tons in 2014, slightly above 3.483 million tons imported in 2013. It estimates Bangladesh imports to increase about 6 fold to around 700,000 tons in 2014 and Indonesia imports to increase more than two-fold to around 1.4 million tons. USDA estimates Thailand exports to reach around 9 million tons in 2014, up about 34% from around 6.7 million tons exported in 2013. However, it estimates India 2014 exports to decline about 5% to around 10 million tons from around 10.48 million tons exported in 2013. The U.S. agency estimates 2015 global rice trade to increase about 1% to around 41.2 million tons due to expected record imports by Sub-Saharan Africa and China as well as abundant exportable supplies in Asia and in the West. It estimates China to import a record 3.7 million tons in 2015, up 16% from 2014. It also estimates the Philippines 2015 imports to increase 10% to around 1.6 million tons. USDA expects Thailand to replace India as the largest rice exporter with 10 million tons exports in 2015. It forecasts India 2015 exports to decline about 13% to around 8.7 million tons because of an expected decline in production in MY 2014-15 and higher domestic use. It forecasts Vietnam to export around 6.7 million tons of rice in 2015, up about 3% from an estimated 6.5 million tons in 2013. Tags: Global milled rice exports, Global milled rice imports
USDA Forecasts 2013-14 Global Milled Rice Production at 475.8 Million Tons, Up 1% from Last Year Aug 15, 2014
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USDA has forecasted 2013-14 global rice production at around 475.8 million tons, up about 1% from around 471 million tons in 2012-13 due to expected increase in production in South Asia, Southeast Asia and Latin America.In its August Rice Outlook report, USDA forecasts major milled rice production increases in Afghanistan, Bangladesh, Nepal, Pakistan, Vietnam, Brazil, Nigeria, Sierra Leone, Guyana and Uganda. It forecasts major production declines in Australia, Taiwan, Indonesia, Laos, Liberia, Madagascar and Russia.It estimates 2014-15 global milled rice production to increase to around 477.3 million tons due to expected production increases in East Asia and Southeast Asia as well as near-record crops in Sub-Saharan Africa. USDA attributes increase in 2014-15 production to the expanded area. It estimates global rice acreage at record 161 million hectares in 2014-15, up 100,000 hectares from 2013-14. Tags: USDA, Global milled rice production, Global ending stocks, Global rice consumption
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Oryza U.S. Rough Rice Recap - Prices Unchanged after Iraq Cancels Tender Aug 15, 2014
As of today, offers were unchanged near $13.33 per cwt fob farm (about $294 per ton) while bids held around $12.85-$13.25 per cwt (about $282-$292 per ton) for September-October delivery however no trades were reported.Meanwhile, the Iraqi Grain Board yet again canceled their latest tender after receiving offers from the U.S., Uruguay, Argentina, and Thailand that they considered too high however officials indicated that they would issue a new tender next week. Tags:
U.S. rice prices, U.S. rice market
Oryza White Rice Index – Global Rice Export Quotes Soften Aug 15, 2014
The Oryza White Rice Index, a weighted average of global white rice export quotes, ended this week at about $479 per ton, down about $4 per ton from a week ago, and up about $7 per ton and $9 per ton from a month and a year ago respectively.Domes tic rice prices in Asia increased sharply in July
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compared to the previous month, according to the UN’s FAO. The USDA has forecasted 2013-14 global rice production to reach 475.8 million tons, an increase of about 1% from 2012-13, due to anticipated increases in production in South Asia, Southeast Asia, and Latin America. It also forecasts global milled rice trade at around 40.7 million tons, an increase of about 3% from last year, due to near-record imports by China, Bangladesh, Indonesia, and Sub-Saharan Africa, as well as significant increases in Thailand’s exports. Thailand Thailand 5% broken rice is today quoted at about $450 per ton, unchanged from a week ago, up about $25 per ton from a month ago, up about $5 per ton from a year ago. Thai Rice Exporters are eager to secure the Philippines import deal for 500,000 tons of 25% white rice and have sought the Commerce Ministry’s assistance in preparation for the auction, which is scheduled for August 27. The Thai Rice Exporters Association claims that Vietnam does not have enough rice to fulfill the request due to high demand earlier this year from Malaysia, Indonesia, China, and the Philippines. The National Council for Peace and Order (NCPO) had ordered the price of five-kilogram bags of rice remain between 80-130 baht per pack (about $500-800 per ton) through November, but it will likely rise by 5-10 baht per pack (about $32-62 per ton) after that time. The rice stock inspection team has determined that nearly 3 million tons, or about 17% of stocks, from Thailand’s stockpile is not fit for human consumption. The country may lose $2.24 billion as a result. Thailand’s Commerce Ministry has decided to sell about 73,000 tons of rice from stockpiles for around 737 million baht (about $23 million) after the first auction, for selling around 167,000 tons of rice, held last week, reports Bloomberg. The Thailand government may consider amending rice auction conditions, including setting up flexible floor prices, to ensure smooth sales as well as receiving realistic bid prices, according to local sources. India India 5% broken rice is today quoted at about $440 per ton, unchanged from a week and a month ago, and up about $5 per ton from a year ago. Rice stocks in the central pool as of August 1 were about 24.56 million tons, about 16% less than the same time last year, according to the Food Corporation of India (FCI). Month-over-month, rice stocks are down about 3%, but current rice stocks are more than double the required buffer and strategic reserve norms, according to the FCI.
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Planting for kharif, or main, rice crop (June-December) has reached 29.623 million hectares as of August 14, about 1% less than the same time last year, according to the Indian Agriculture Ministry. India’s Minister for Earth Sciences warned about poor agricultural results, citing the weakest monsoon in five years and a delay in the rice crop. Russia has rejected a parboiled rice consignment from India after its phyto-sanitary watchdog Rosselkhoznadzor detected in July that it was contaminated with pests, according to local sources. The government of the south-Indian state Kerala has allocated $3.2 million and 2,000 hectares specifically to grow four Geographical Indications (GI) rice varieties grown in the state. Declining olive oil prices and increasing demand for olive oil are posing challenges for Indian rice bran oil producers. Vietnam Vietnam 5% broken rice is today quoted at about $455 per ton, up about $5 per ton from a week ago, up about $25 per ton from a month ago and up about $60 per ton from a year ago. The Vietnam Food Association expects rice exports to exceed 6.2 million tons in 2014, the target they set in May after lowering it due to heavy competition from India and Thailand. The Ministry of Agriculture and Rural Development is planning to convert 260,000 hectares of rice area to other crops by 2015 under the crop transformation plan 2014-2020, according to local sources. Pakistan Pakistan 5% broken rice is today quoted at about $445 per ton, down about $5 per ton from a week ago, up about $5 per ton from a month ago and up about $20 per ton from a year ago. Opposition leader Imran Khan led supporters through the eastern city of Gujranwala on Friday, and clashes broke out as ruling-party supporters attacked his convoy. Khan was unharmed, but tens of thousands of Pakistani protestors from two anti-government movements have many concerned the military may intervene and mount a coup. Central & South America Brazil 5% broken rice is today quoted at about $610 per ton, down about $15 per ton from a year ago.Brazil exported about 760,724 tons of rice January-July, down about 41% from 1.29 million tons exported in full calendar year 2013, according to the Rice Institute of Rio Grande do Sul.
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The Brazilian paddy rice index maintained by CEPEA reached about 36 real per 50 kilograms as of August 11, 2014, up about 0.4% from about 35.86 real per 50 kilograms recorded on August 4, 2014. In terms of USD per ton, the index reached at about $316 per ton on August 11, 2014, down about 0.5% from about $318 per ton recorded on August 4, 2014. Conab has estimated that Brazil will produce about 12.2 million tons of paddy rice in 2013-14, an increase of about 3% from 2012-13. Five percent broken rice from Uruguay and Argentina are quoted at about $615 per ton, down about $5 per ton from a week and a year ago and down about $10 per ton from a month ago. In the first five months of CY2014, Argentina exported about 296,950 tons of rice, about 44% more than exports during the same time last year, according to the Argentina Ministry of Agriculture. The UN’s FAO estimates Cuba’s MY 2014-15 (July-June) rice imports will decline due to increased paddy production, which is up about 4% from last year. The UN’s FAO estimates Guyana’s MY 2014-15 (January-December) rice exports will increase about 15% from last year to reach 460,000 tons. The UN’s FAO expects Dominican Republic’s MY 2014 paddy rice production to increase slightly to 830,000 tons, with paddy acreage unchanged. U.S. U.S. 4% broken rice is today quoted at about $540 per ton, down about $15 per ton from a week and a month ago, down about $65 per ton from a year ago. The USDA has forecasted the U.S. 2014-15 (August-July) total rice exports at 4.95 million tons, up about 17% from 2013-14 numbers. In its latest World Agricultural Supply and Demand Estimates (WASDE) report, USDA forecasts 2014-15 long-grain exports at around 3.4 million tons, up about 19% from last year. It forecasts 2014-15 medium- and short-grain rice exports at around 1.54 million tons, up about 12% from the previous year. USDA forecasts the U.S. total rice production to increase to around 10.38 million tons in 201415, up about 21% from the previous year. USDA forecasts total rice imports in 2014-15 to decline about 9% from the previous year to an estimated 950,000 tons. The U.S. rough rice cash market was quiet this week with buyers staying on the sidelines as they await harvest of the second largest long-grain crop in the last five years. Offers were unchanged around $13.33 per cwt fob farm (about $294 per ton) with bids around $12.85-$13.25 per cwt (about $282-292 per ton) for SeptemberOctober delivery.
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Chicago rough rice futures for September delivery rebounded this week and climbed steadily, closing at $12.905 per cwt on Friday (about $284.50 per ton). Many traders see this week’s rise as further confirmation that the market has put in a technical floor near $12.600 per cwt (about $278 per ton) and that a bullish reversal is underway. Russia announced plans to ban most food imports from the U.S. the E.U., Norway, Canada, and Australia for one year in retaliation for Ukraine sanctions, according to local sources. However, the Russian Prime Minister has said the food import ban does not include U.S. rice and wild rice. Other Markets: The Iraq Grains Board has rejected offers in an international tender to buy 30,000 tons of rice, blaming high prices, according to Reuters. The UN’s FAO forecasts the Philippines to import more than twice as much rice in 2013-14 (July-June) as they did the previous year. Rice imports in 2013-14 are expected to reach 1.8 million tons. Total rice stocks in the Philippines as of July 1 reached about 2.03 million tons, down about 12% from June 2014 and down about 7.7% from the same period last year, according to the Bureau of Agricultural Statistics. The Agriculture Secretary of the Philippines is encouraging the government to support sufficient rice production to avoid price hikes and ensure adequate supplies, claiming the government has saved around P147 billion (about $3.3 billion) by reducing rice imports between 2010 and 2013. The UN’s FAO lowered the forecast for Laos’s paddy rice production by about 3% y/y to 3 million tons in 2014-15. Cambodia 5% broken rice is today quoted at about $475 per ton, up about $20 per ton from a week ago and up about $30 per ton from a month ago. Separately, in January-July 2014, Cambodia exported 203,988 tons of rice, about 1.6% less than in the same period last year, according to the Cambodia Rice Federation. Meanwhile, China has agreed to buy 100,000 tons of Cambodia’s rice under a Memorandum of Understanding (MoU) signed on August 12 in Beijing. Myanmar plans to finalize a rice export agreement with China to avoid legality issues, according to local sources. It is also working to get its first credit rating with Standard Chartered bank in efforts to reassure foreign investors. Rice production in Nepal in 2014 is likely to decline significantly due to delay in planting and lack of rains. As of August 5, about 94.8% of the paddy rice on the Italian market has been sold. Tags: oryza white rice index (OWRI), Global rice trade, rice news, Rice Prices
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Thailand Agrees to Sell 73,000 Tons of Rice for $23 Million after First Auction Aug 15, 2014
Thailand's Commerce Ministry has decided to sell about 73,000 tons of rice from stockpiles for around 737 million baht (around $23 million) after the first auction, for selling around 167,000 tons of rice, held last week, reports Bloomberg.The Director General of the Foreign Trade Department (DG-DFT) told media sources that the specified amount of rice would be sold to 12 bidders. She noted that the Department would not announce the price (per kilogram) at which the rice is being sold as it would affect future sales.As many participants submitted bids below the floor price, there were doubts whether the Commerce Ministry would sell any rice slated for auction. However, the Ministry has planned to sell 73,000 tons of rice.Yesterday, the DG-DFT said she was planning to propose to the National Council of Peace and Order (NCPO) to lower floor prices or introduce a floor price range to avoid too low bids.Thailand is expected to hold around 18 million tons of rice in warehouses. The Commerce Ministry is planning to sell around 500,000 - 600,000 tons of rice each month and complete all sales within the next three years. The Thai Rice Exporters Association (TREA) expects Thailand to export more than 9 million tons of rice this year, up about 34% from around 6.7 million tons exported last year. Meanwhile, the NCPO Chief urged rice farmers to shift to vegetable and fruits production as there are concerns over production and returns declining due to lower rainfall in many rice growing regions. In a televised speech, he was quoted as saying that the government is not in a position to subsidize all types of crops. Last month, the NCPO gave a framework to subsidize rice production costs after abandoning the rice pledging scheme. He also noted that an interim government would be formed in September 2014 and the 2015 fiscal budget would be announced by early October. Tags: Thailand rice exports, Thailand rice sales, Thailand rice production
Oryza Rice Currency Analysis for Today – Currencies Little Changed Aug 15, 2014
U.S. dollar index was weaker -0.21% from the open today, when it traded at 81.420 at the close. Euro was stronger +0.23% by the close, trading around 1.3396 by end of day, after trading between an intraday high of 1.3412 and low of 1.3359.
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Thai baht was -0.09% weaker, trading at 31.880 at the close of business. Indian rupee was unchanged at 60.7700. Brazilian real was stronger +0.19% at 2.2624 reais per dollar. Pakistan rupee was -0.31% weaker at 99.9488. Vietnamese dong was unchanged at 21200. Mexican peso was stronger +0.02% today, when it traded at 13.0687 pesos per dollar by the close of business. Chinese yuan was +0.10% stronger at 6.1472. Argentine peso was weaker -0.06% at 8.2821 pesos per dollar. Tags: foreign exchange rates, Rice currencies, Global rice trade, Rice
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