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TOP Contents - Tailored for YOU Latest News Headlines… Oryza U.S. Rough Rice Recap - Quiet Market as Selling Rice Takes Backseat to Harvesting Wheat and Planting Beans Italy's New Project Supports Agriculture Sector Growth Oryza Afternoon Recap - Chicago Rough Rice Futures Close Lower as New Crop Selling Weighs July Futures Down Winning World Cup Recipes: Russia vs South Korea Oryza Overnight Recap - Chicago Rough Rice Futures Paused a Tick Higher as Traders Look for Continued Liquidation on the Part of Short Holders The Three Secrets of India's Rice Export Success Brazil Paddy Rice Index Slightly Down from Last Week Philippines Farmers Group Opposes Rice Price Hike, Blames Rice Cartels for Manipulating Prices; Government Vows to Prevent Rice Hoarding Guyana Rice Sector Faces Problem of Plenty with Increasing Supplies and Lack of Export Demand Thailand Rice Seed Industry Needs an Overhaul Iran Imports 196,600 Tons of Rice in First Two Months of CY 2014-15; Down 39% from Last Year Thailand BAAC Completes Overdue Payments to Rice Farmers Five Days before Schedule Asia Rice Quotes Unchanged Today Oryza Global Rice Quotes
News Detail… Oryza U.S. Rough Rice Recap - Quiet Market as Selling Rice Takes Backseat to Harvesting Wheat and Planting Beans Jun 17, 2014
The U.S. cash market was fairly quiet today as many farmers were busy either harvesting wheat or planting soybeans and showed very little interest in selling at the levels most buyers were willing to pay.As of today, old crop offers could still be found around $15.75 per cwt fob farm (about $347 per ton) for June-July shipment although most are still hoping to net at least $16.11 per cwt fob farm (about $355 per ton).Bids from exporters increased slightly today to around $15.55 per cwt (about $343 per ton) for June delivery while smaller mills are still bidding near $16.00 per cwt (about $353 per ton) for the same delivery period however no trades were reported. Tags: U.S. rice prices; U.S. rice market
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Italy's New Project Supports Agriculture Sector Growth Jun 17, 2014 More professional opportunities for young people; a cut in taxes; simplification of laws and bills; and sanctions against farmers who choose GMOs: these are the main concepts of a new Ministry of Agriculture project in Italy called Campolibero (“free field”). The plan was launched about two months ago, and Minister Maurizio Martina asked those interested in these topics to send him an email by April 30. Now, about a month and a half later, the new measures are ready and bear some relevance to the rice-growing sector in Italy: Young farmers (no more than 35 years old) will pay lower taxes on land renting. Young farmers (no more than 40 years old) opening a new farming company may apply for no interest funding.A network for quality agricultural jobs has been established, and there are incentives for creating new jobs.There will be tax credits up to 400,000 euros (about $541,600) for no more than 40% of the effective investments for the following sectors: research and development projects, products and technologies, and the creation of company networks. There will be tax credits up to 50,000 euros (about $67,700) for the e-commerce of agroalimentary products.Farms cultivating GMOs will face stricter controls on their presence and possible sanctions. Tags: farming, farmers, tax credits, GMO, GM Crops, genetically modified organism (GMO), young farmers
ryza Afternoon Recap - Chicago Rough Rice Futures Close Lower as New Crop Selling Weighs July Futures Down Jun 17, 2014
Chicago rough rice futures for Jul delivery settled 1.5 cents per cwt (about $0.33 per ton) lower at $14.650 per cwt (about $323 per ton). Rough rice futures backed off slightly today as selling pressure picked up in new crop contracts which weighed on the front month future. The market appears to be pricing in a lack of demand as well as expectations for a larger than expected crop next year as the July/September spread has now widened back out to 64 cents per cwt (about $14 per ton). Despite a slightly lower close, today’s chart formation is seen as a positive development as the market managed to put in place a higher high as well as higher low. The other grains finished the day mostly lower with only wheat managing to pull off a marginal gain by the close; soybeans closed about 1.7% lower at $13.9825 per bushel; wheat about 0.1% higher at $5.8275 per bushel, and corn finished the day about 0.5% lower at $4.3975 per bushel.U.S. stocks posted slight gains on Tuesday after a May rise in consumer prices came in larger than expected, with the data coming a day ahead of the Federal Reserve's monetary-policy decision. The Labor Department's consumer price index jumped 0.4% in May, with the report coming as the Fed starts a two-day
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monetary-policy session. An increase in inflation reduces the risk of an extended decline in prices that crimps economic growth, and offers the Fed a reason to maintain their program of scaling back monetary easing. The Commerce Department reported housing starts declined 6.5% in May, versus 12.7% in April. After a 48point fall and 29-point gain, the Dow Jones Industrial Average was lately up 5.30 points at 16,786.31. The S&P 500 added 1.04 point, or 0.1%, to 1,938.82, with energy and utilities hardest hit and financials and technology faring best among its 10 major sectors. Also wavering on either side of unchanged, the Nasdaq rose 13.02 points, or 0.3%, to 4,334.12. Gold is trading about 0.4% lower, crude oil is seen trading about 0.6% lower, and the U.S. dollar is seen trading about 0.2% higher at about 1:00pm Chicago time.Monday, there were 1,708 contracts traded, up from 709 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday increased by 61 contracts to 9,353. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
Winning World Cup Recipes: Russia vs South Korea Jun 17, 2014
What better way to celebrate the World Cup festivities from afar than with some regionally-themed rice dishes!For Tuesday’s match-up, Russian rice pilaf goes head-to-head with Korean kimchi fried rice – for your edible pleasure while you watch Russia and Korea battle it out in the last game of the day.Both of these dishes are relatively humble staples of Russian and Korean food culture, and both feature rice as the star of the dish. With just a few other ingredients, a modest bowl of rice becomes a filling meal that represents each country’s unique flavors. The Russian Rice Pilaf can be made in advance, and the Kimchi Fried Rice is a great use of leftover rice. Russian Rice Pilaf What You Need: · 4 tablespoons butter, melted · ¾ cup slivered almonds · 2 cups long-grain rice · ½ teaspoon ground ginger · 2 teaspoons sesame seeds · 2.5 cups chicken or vegetable stock or broth · ½ teaspoon salt · ½ teaspoon ground black pepper What You Do: 1. Preheat the oven to 350 F. Spread the almonds in a thin layer on a cookie sheet and toast for about 5 minutes, making sure not to burn them.
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2. In a large casserole dish (2-quart is a good size), add the melted butter and rice and cook for about 10 minutes, stirring regularly with a wooden spoon, until the rice is somewhat white and opaque. 3. Add the ginger, sesame seeds, chicken/vegetable stock, salt, and pepper. Bring to a boil, stirring constantly. 4. Cover the dish and bake in the oven for about 35 minutes, or until all the liquid is absorbed and the rice is cooked, fluffing the rice with a fork a couple times during the baking process. 5. Add salt to taste, and sprinkle the toasted almonds on top before serving.
Kimchi Fried Rice (Kimchi Bokumbap) What You Need: · 1 cup kimchi, drained and chopped · ½ onion, chopped · 1 tablespoon butter · 2 cloves garlic, minced · 2 T soy sauce · 3 cups cooked rice · 1 tablespoon red pepper paste (gochujang, sold in Korean markets), optional · ½ cup thinly sliced meat (beef, pork, bacon, ham) or tofu (cubed or shredded), optional What You Do: 1. Sauté kimchi and onion over medium heat until transparent. 2. Add ½ tablespoon butter, garlic, soy sauce, and red pepper paste (if using) to pan and continue to sauté another few minutes. 3. If using, add meat/tofu and continue to sauté until meat/tofu is cooked/browned. 4. Turn off heat but leave pan on burner and add rice and remaining butter, mixing completely. 5. Salt and pepper to taste, and top with fried egg to serve. Note: This recipe is adaptable and forgiving – use more or less kimchi, meat, red pepper paste, etc., based on what you have available!
Tags: soccer, World Cup, Rice recipe, food
Oryza Overnight Recap - Chicago Rough Rice Futures Paused a Tick Higher as Traders Look for Continued Liquidation on the Part of Short Holders Jun 17, 2014
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Chicago rough rice futures for Jul delivery were paused 0.5 cents per cwt (about $0.11 per ton) higher at $14.670 per cwt (about $323 per ton) as of 8:45am Chicago time. The other grains are seen mostly lower this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.6% lower, wheat is paused 0.3% higher, and corn is noted about 0.3% lower. U.S. stock index futures turned lower on Tuesday after economic reports had consumer prices rising and housing starts coming in below expectations. The Commerce Department reported housing starts declined 6.5 percent in May, versus 12.7 percent in April. And the Labor Department's consumer price index jumped 0.4 percent in May. Islamist militants took control of another Iraqi town, Saqlaqiya, on Monday, with the help of allied tribesmen. There were also reports of fighting south of Baghdad. The U.S. is reportedly considering air strikes to help Iraq fight off the rebels, but has ruled out coordinated military action with Iran. Russia cut off gas supplies to Ukraine on Monday, after the two countries failed to agree on payment. U.S. stocks reversed losses on Monday to end mildly higher for a second consecutive session. This followed upbeat economic reports: May industrial production increased, home builder sentiment surged in June and the Empire State index of business conditions rose to a four-year high. No major quarterly earnings are due before markets open, but Adobe Systems will report after Wall Street closes. U.S. stock index are currently trading about 0.2% lower, gold is currently trading about 1% lower, crude oil is seen trading about 0.4% lower, and the U.S. dollar is currently trading about 0.2% higher at 8:45am Chicago time. Tags:U.S. rice prices; U.S. rice market; Chicago rough rice futures
The Three Secrets of India's Rice Export Success Jun 17, 2014
The All-India Rice Exporters Association, the apex body of Indian Rice Exporters worldwide, attributes India’s success to three factors – top quality basmati rice; world’s highest acreage of rice cultivation with 7 million hectares; and competitive pricing on non-basmati rice. It’s official. India is the world's biggest rice exporter and is expected to export 11 million tons of rice in 2014, an improvement from 9.3 million tons of rice exports in 2013.The Food and Agriculture Organization estimates that India will remain the top exporter as Vietnam occupies the number two slot (7.8 million tons of rice exported) and Thailand at number three) with about 7.7 million tons).Thailand’s loss is India’s gain, especially after the political turmoil in Thai made it lose the coveted slot to India two years ago giving a fillip to Indian rice trade. Currently, Russia, Saudi Arabia, Indonesia and Nigeria are the biggest importers of Indian rice.On the price front, although Basmati rice enjoyed a 20 percent increase year on year in 2012 with price per ton touching $1300, prices are likely to fall slightly this year. Tags: All India Rice Exporters Association (AIREA)
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Brazil Paddy Rice Index Slightly Down from Last Week Jun 17, 2014
The Brazilian paddy rice index maintained by CEPEA reached at about 36.49 real per 50 kilograms as of June 16, 2014, slightly down from about 36.74 real per 50 kilograms recorded on June 9, 2014.In terms of USD per ton, the index reached at about $327 per ton on June 16, 2014, down about 0.3% from about $328 per ton recorded on June 9, 2014. Tags: Brazil paddy rice index
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Philippines Farmers Group Opposes Rice Price Hike, Blames Rice Cartels for Manipulating Prices; Government Vows to Prevent Rice Hoarding Jun 17, 2014
The Philippines militant farmers group Kilusang Magbubukid ng Pilipinas (KMP) has opposed the rice price hike of about P2 per kilogram (around $45 per ton) as stated by the National Food Authority (NFA), owing to market movements, according to local sources.The KMP Chair noted that the price hike would not be temporary as claimed by the NFA, adding that prices never reached their pre-hike levels immediately after harvests began. He said the Presidential Office was encouraging the existence of rice cartels, which are resorting to price manipulations in the country. He urged the Presidential Office to rollback rice prices, dismantle the rice cartels and reinitiate the government's trade liberalization policy.He also said the recent statement by the Bureau of Agricultural Statistics (BAS) that the country's rice stocks were sufficient for 73 days was misleading as it included stocks held by the local market and households.Meanwhile, the Presidential Communications Secretary said they are awaiting a comprehensive report from the Department of Agriculture (DA) to ensure stable production and supply. He also reiterated that the government was strictly against rice hoarding and would punish those resorting to hoarding and other unfair trade practices. "Surveillance is being carried out to discourage hoarding and other practices that could lead to artificial shortage," he adds. Tags: Philippines Rice Production, Philippines rice imports
Guyana Rice Sector Faces Problem of Plenty with Increasing Supplies and Lack of Export Demand Jun 17, 2014
Guyana's rice sector is facing new problems with increasing rice supplies and lack of export demand, according to local sources.According to officials of the Guyana Rice Producers Association (RPA), nearly 80,000 tons of rice from 2013 and about 150,000 tons of rice from the minor crop (January - June) of 2014 are lying in warehouses and the Ministry of Agriculture is expecting to harvest around 250,000 tons of rice from the 2014 main crop (May - November).Currently, Guyana supplies around 140,000 tons of paddy and around 50,000 tons of milled rice to Venezuela under this year's oil-for-rice deal, and small amounts of rice to Jamaica and Haiti.
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The RPA and the Ministry of Agriculture specified in the beginning of this year the government is planning to expand its export destinations to Brazil, Belize, Guatemala, Jamaica, Trinidad and Tobago, and some European countries.Guyana also lacks sufficient storage facilities for milled rice as well as paddy. The government has to sell the existing stocks before the harvest from the main crop starts arriving in August. Officials are concerned of delays of shipments to Venezuela due to placement problems in Venezuela ports. So, far Guyana could ship only 25,000 tons of milled rice and 70,000 tons of paddy to Venezuela.The Ministry of Agriculture expects 2014 production to cross its estimated target of 543,793 tons. Local sources say there are no indications of Guyana securing deals with new markets and the government might be left with around 300,000 tons of surplus rice by the end of this year.Guyana produced around 532,000 tons of rice in 2013, up about 25% from about 425,000 tons produced in 2012; and exported around 394,989 tons in 2013, up about 18% from about 334,170 tons exported in 2012, according to the Agriculture Minister. USDA estimates Guyana to produce around 536,000 tons of rice and export around 400,000 tons of rice after meeting the domestic consumption needs of around 130,000 tons. Tags: Guyana rice production, Guyana rice exports
Thailand Rice Seed Industry Needs an Overhaul Jun 17, 2014
Thailand has begun renovation of its rice sector after the controversial rice-pledging scheme has severely damaged its reputation, according to local sources. Thai military junta has ordered the relevant agencies to repair the country's rice sector from the scratch.Thailand’s six key agencies, including the Rice Department, the Bank for Agriculture and Agricultural Cooperatives, the Thai Rice Foundation under Royal Patronage, the National Science Technology and Innovation Policy Office, the Agricultural Research Development Agency and the National Science and Technology Development Agency (NSTDA), have identified lapses in the production of high-quality rice seeds in the country. The rice agencies told local sources that shortage of high-quality rice seeds is the one of the major problems faced by Thai rice farmers and only 40% of the required demand is met by the local rice-seed production companies. They noted that this gap in supply of and demand for high-quality rice seeds is affecting the yield as well as quality of the output.The agencies noted that Thai farmers lack access to elite lines and master seeds as well as requisite knowledge of using high-quality rice seeds. They also noted that there is no proper linkage between rice-seed producers and distributors, sufficient number of seed-certification inspectors and necessary finances to support the production/distribution chain. The six agencies will work together to increase production of high-quality rice seeds in line with demand, develop a network of rice seed producers and distributors, upgrade certification system of rice seeds, ensure availability of funds for the industry. Initially, they are planning to launch a training program in rice-seed production to create awareness among farmers regarding the importance of quality seeds and gradually encourage them to increase their usage and eventually boost country's rice production and exports.
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Iran Imports 196,600 Tons of Rice in First Two Months of CY 2014-15; Down 39% from Last Year Jun 17, 2014
Iran has imported around 196,600 tons of rice in the first two months of the Iranian Calendar Year (CY) 201415 (March 21, 2014 - March 20, 2015), down about 39% from around 323,888 tons imported during the same period in CY 2013-14, according to data from the Islamic Republic of Iran Customs Administration (IRICA). Rice accounted for about 3.2% of the country's non-oil imports in March 21 - May 21 period, according to the IRICA.
In terms of value, Iran imported around $235 million worth of rice in March 21 - May 21 period, down about 36% from about $368.5 million worth rice imported last year. Iran imported 1.956 million tons of rice in CY 2013-14, up about 51% from CY 2012-13, according to data from IRICA.Decline in basmati rice imports from India since February 2014, after Iran had revised the accepted level of arsenic content in basmati rice from 150 parts per million (ppm) to 120 ppm, seems to be the main reason for a plunge in Iran's total rice imports. According to data from India's Agricultural and Processed Food Products Export Development Authority (APEDA), India exported about 130,000 tons a month of basmati until February 2014, but sales have since plunged to 50,000-60,000 tons a month since then. India exported around 1.44 million tons of basmati rice to Iran in FY 2013-14 (April - March), up about 33% from around 1.08 million tons of basmati exported in FY 2012-13. Tags: Iran rice production, Iran rice imports, Basmati rice
Thailand BAAC Completes Overdue Payments to Rice Farmers Five Days before Schedule Jun 17, 2014
The Bank of Agriculture and Agricultural Cooperatives (BAAC) in Thailand has completed all the outstanding payments to rice farmers five days ahead of the scheduled date of June 22, 2014, according to Reuters.The bank had paid around 90 billion baht (around ($2.8 billion) to around 800,000 farmers, who pledged paddy rice from the 2013-14 main crop (October 2013 - February 2014) since the military junta has taken over on May 22 and prioritized payments to rice farmers. The BAAC President noted that a total of 1.69 million farmers had pledged around 11.81 million tons of paddy rice worth about 195.45 billion baht (around $6.028 billion) from 2013-14 main crop. He said the BAAC has completed payments worth 195.394 billion baht (around $6.026 billion), but payments of about 56 million baht (around $1.73 million) to a small number of farmers has been withheld owing to some documentation problems, according to local sources.
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He expressed confidence that the completion of payment would rekindle the Thai economy and contribute to around 0.2% additional GDP growth.The military government decided over not continuing the rice pledging scheme, which has dented the country's economy to a major extent. It has ordered the Commerce Ministry to conduct checking on the remaining rice stocks for quality and any losses. Tags: Thailand rice exports, Thailand rice pledging scheme
Asia Rice Quotes Unchanged Today Jun 17, 2014
Asia rice sellers kept their quotes mostly unchanged today. 5% Broken Rice Thai 5% rice (of new crop) is quoted at around $380 - $390 per ton, about $20 per ton lower than Viet 5% rice (of new crop) quoted at around $400 - $410 per ton. Indian 5% rice is quoted at around $430 - $440 per ton, about $15 per ton lower than Pak 5% rice quoted at around $445 - $455 per ton. 25% Broken Rice Thai 25% rice (of the old crop) is quoted at around $350 - $360 per ton, about $10 per ton lower than Viet 25% rice (of new crop) quoted at around $360 - $370 per ton. Indian 25% rice is quoted at around $385 - $395 per ton, on par with Pak 25% quoted at around $385 - $395 per ton. Parboiled Rice Thai parboiled rice (of the old crop) is quoted at around $420 - $430 per ton. Indian parboiled rice is quoted at around $400 - $410 per ton, about $35 per ton lower than Pak parboiled rice quoted at around $435 - $445 per ton. 100% Broken Rice Thai broken rice, A1 Super, (of the old crop) is quoted at around $310 - $320 per ton, about $20 per ton lower than Viet broken rice (of new crop) quoted at around $330 - $340 per ton. Indian broken sortexed rice is quoted at around $310 - $320 per ton, about $15 per ton lower than Pak broken sortexed rice quoted at around $325 $335 per ton. Tags: Thailand rice prices, Vietnam rice prices, India rice prices, pakistan rice prices
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Oryza Global Rice Quotes June 18th, 2014 Long grain white rice - high quality Thailand 100% B grade 395-405
↔
Vietnam 5% broken
395-405
↓
India 5% broken
430-440
↔
Pakistan 5% broken
445-455
↔
Cambodia 5% broken
435-445
↔
U.S. 4% broken 575-585
↔
Uruguay 5% broken
625-635
↔
Argentina 5% broken
620-630
↔
Long grain white rice - low quality Thailand 25% broken
350-360
↔
Vietnam 25% broken
360-370
↔
Pakistan 25% broken
385-395
↔
Cambodia 25% broken 405-415
↔
India 25% broken
385-395
↔
U.S. 15% broken
550-560
↔
Long grain parboiled rice Thailand parboiled 100% stxd
420-430
Pakistan parboiled 5% broken stxd
↔
435-445
↔
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India parboiled 5% broken stxd 400-410
↔
U.S. parboiled 4% broken
660-670
↔
Brazil parboiled 5% broken
NQ
↔
Uruguay parboiled 5% broken
NQ
↔
Long grain fragrant rice Thailand Hommali 92% 965-975
↔
Vietnam Jasmine
↔
550-560
India basmati 2% broken
NQ
↔
Pakistan basmati 2% broken
NQ
↔
860-870
↔
Thailand A1 Super
310-320
↔
Vietnam 100% broken
330-340
↔
Cambodia Phka Malis
Brokens
Pakistan 100% broken stxd
325-335
350-360
↔
India 100% Broken stxd 310-320
↔
Egypt medium grain brokens
NQ
↔
U.S. pet food
↔
Cambodia A1 Super
470-480
Brazil half grain
NQ
↔
↔
Medium grain milled U.S. Calrose 4% broken 1070-1080 ↔ Egypt medium grain 6% NQ ↔ All prices USD per ton, FOB vessel, oryza.com
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