19th june,2014 daily exclusive oryza e newsletter by riceplus magazine

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19th June , 2014

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TOP Contents - Tailored for YOU Latest News Headlines…             

Oryza Rice Currency Analysis for Today – Brazil Real Up 1.4%; Mexico Peso Up 1% GMO Debate Heats up in Italy Oryza Afternoon Recap - Chicago Rough Rice Futures Continue to Add Premium to July Futures as Supply Remains Short Winning World Cup Recipes: Cameroon vs Croatia Sprouted Brown Rice, the New Superfood on the Table Oryza Overnight Recap - Chicago Rough Rice Futures Mixed as July Finds Support from Firmer Grains Thailand Military Government Announces Cultivation Subsidy and Soft Loans to Rice Farmers in 2014-15 Crop Season Philippines Explores Niche Export Market with Cordillera Heirloom Rice; Exports 15 Tons to U.S. So Far in 2014 Cambodia Rice Exports Falter due to Declining Demand and High Prices USITC to Study Global Competitiveness of U.S. Rice Industry India Government to Release 5 million Tons of Rice Stocks in Open Market to Prevent Price Hikes Following Poor Monsoons Vietnam Rice Sellers Lower Some of Their Quotes; Other Asia Rice Quotes Unchanged Today Oryza Global Rice Quotes

NEWS DETAILS: Oryza Rice Currency Analysis for Today – Brazil Real Up 1.4%; Mexico Peso Up 1% Jun 18, 2014

U.S. dollar index was down -0.24% from the open today, when it traded at 80.426 at the close. Euro was stronger +0.28% by the close, trading around 1.3584 by end of day, after trading between an intraday high of 1.3599 and low of 1.3542. Thai baht was stronger +0.18%, trading at 32.440 at the close of business. Indian rupee was weaker -0.64% at 60.4037.

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Brazilian real was stronger +1.44% at the close of trading today, trading at 2.2299 reais per dollar. Pakistan rupee was +0.15% stronger at 98.3200. Vietnamese dong was +0.04% stronger at 21213. Mexican peso was stronger +1.09% today, when it traded at 12.9735 pesos per dollar by the close of business. Chinese yuan was weaker -0.08% at 6.2311. Argentine peso was unchanged at 8.1290 pesos per dollar. Tags: foreign exchange rates, rice currencies, Global rice trade

GMO Debate Heats up in Italy Jun 18, 2014

After many years of discussion, the European Ministers for the Environment have reached an agreement allowing each country to decide for itself whether to allow cultivation of GMOs. Each European Union state will have the freedom to support or halt GMO farming. While the European bill has not yet been officially signed, it is expected to be shortly: even countries with very different positions on GMO farming – such as Italy, who rejects them, and the United Kingdom, who supports them – were in agreement on the bill. Italian farmers have already joined the discussion. A letter recently signed by 716 Italian farmers asks Senator and researcher Elena Cattaneo to allow GMO farming in Italy: one of those rice growers is a leading figure in the Italian rice sector named Franco Nulli. “We are professional farmers,” the letter begins, “and we still try to live on the work, while our category every year is hit by the annual closing of 40,000 companies; this has been going on for decades. In our country the progress produced by science cannot reach our fields by a nonsense prejudice which refers both to us and to the scientists living and working in our country.” The farmers are asking Senator Cattaneo to speak in favor of GMO farming, going against a lobby who doesn’t want GMOs for economic reasons. Mr. Nulli, together with Deborah Piovan, asked to meet Senator Cattaneo to go through the matter directly. Senator Cattaneo already answered, saying, “In Italy the discussion is bogged by ideological prejudices and lobbying, and nothing can make people change their mind.” She demands more scientific research and evidence about the potential for GMOs to harm human health. Tags: GM Crops, GM rice, genetically modified organism (GMO), Genetically-modified (GM) rice, GMO

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Oryza Afternoon Recap - Chicago Rough Rice Futures Continue to Add Premium to July Futures as Supply Remains Short Jun 18, 2014

Chicago rough rice futures for Jul delivery settled 13.5 cents per cwt (about $3 per ton) higher at $14.785 per cwt (about $326 per ton). Rough rice futures continued to add premium to the front month July contract while differed new crop contracts continue to tumble. The old crop/new crop spread has widened back out to near $1 per cwt (about $22 per ton) as traders continue to attempt to forecast late season demand and the prospects of the larger 2014/15 crop. The other grains closed higher today as prices bounced following a steep selloff yesterday; soybeans closed about 0.8% higher at $14.0900 per bushel; wheat about 0.9% higher at $5.8700 per bushel, and corn finished the day about 0.6% higher at $4.4150 per bushel.U.S. stocks wavered on Wednesday as investors reacted to a policy decision from the Federal Reserve, which found the economy had rebounded in recent months, with the labor market improved but unemployment still elevated. The Federal Open Market Committee cut its monthly asset purchases by another $10 billion to $35 billion, as expected. Fed Chairman Janet Yellen is expected to address a news conference at 2:30 p.m. Trading in a 60point range, the Dow Jones Industrial Average added 11.40 points, or 0.1%, at 16,819.89. The S&P 500 rose 4.17 points, or 0.2%, to 1,946.16, with utilities pacing sector gains and the Dow 15 Utility Average reaching an all-time high. Telecommunications performed most poorly among the benchmark's 10 major industries. The Nasdaq rose a fraction to 4,337.53. Wednesday's economic reports included a sharp drop in mortgage applications last week, while the Commerce Department said the U.S. current account deficit widened in the first quarter. U.S. stocks have risen in recent days as M&A and upbeat data on manufacturing offset worries about violence in Iraq and rising energy costs. Gold is trading marginally lower, crude oil is seen trading about 0.4% lower, and the U.S. dollar is seen trading about 0.1% lower at about 1:00pm Chicago time.Tuesday, there were 889 contracts traded, down from 1,708 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday was unchanged at 9,353. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures

Winning World Cup Recipes: Cameroon vs Croatia Jun 18, 2014 What better way to celebrate the World Cup festivities from afar than with some regionally-themed rice dishes!For Wednesday’s crazy cook-off, Cameroonian coconut joloffe confronts Croatian stuffed cabbage in the day’s last game. These recipes are slightly time-intensive – especially the Croatian stuffed cabbage – but they aren’t difficult. Both also use familiar ingredients in a way that might be new to you. The joloffe is both spicy and sweet, and the tanginess of the sauerkraut in the stuffed cabbage recipe gives an Italian-inspired dish a new dimension. Cameroonian Buea Coconut Joloffe Rice

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What You Need:             

1 onion, chopped 2 tablespoons oil (recommended: peanut or olive) 4 tomatoes, peeled and chopped 1 ¼ cups coconut milk (choose light or thin if available) 2 carrots, peeled and diced Hot pepper, to taste (use jalapeno for a mild heat; bell peppers for less; or a spicier one for more!) ½-inch slice ginger, finely chopped. Bay leaf Salt, to taste 1 ¼ cups long-grain rice, rinsed 1/4 pound mushrooms, sliced 1 green pepper, seeded and chopped Other vegetables, optional What You Do: 1. Heat the oil in a large saucepan and add the onion, sautéing for a few minutes. 2. Add the tomatoes and tomato puree to the saucepan and sauté over medium heat for 5-6 minutes, stirring regularly. 3. Stir in ¼ cup coconut milk and cook until reduced to a thick sauce. Add the remaining coconut milk, carrots, pepper, ginger, bay leaf, and salt. Bring to a boil. 4. Once boiling, add the rice and remaining vegetables, mixing. Reduce heat to low, cover, and cook until the rice has absorbed the liquid and is fully cooked. Croatian Stuffed Cabbage Rolls For this recipe, we’ve included two options: a vegetarian stuffing, and a meat stuffing. Choose the one that works best for you, or do some both ways for variety! What You Need: For meat filling:

2 pounds of meat – traditionally, this is 1 pound ground beef, ½ pound ground pork, and ½ pound ground ham, but you can adapt for your preferences

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     

1 cup uncooked long-grain white rice 1 onion, chopped 1 egg ½ teaspoon garlic powder 1 teaspoon salt 1 teaspoon ground black pepper For vegetarian filling:

        

¼ cup olive oil 1 small onion, chopped 1-2 cloves garlic 8 ounces mushrooms, chopped (white or portabella work well) 1 carrot, grated 2-3 cups cooked lentils (green or brown, preferably) 1 cup cooked long-grain rice (or Arborio) Salt, pepper to taste 2 teaspoons balsamic vinegar or 3 tablespoons red wine For rolls:

   

1 large head cabbage (tip: place it in the freezer for a few days before you make this, and take it out to thaw the night before) 1 pound sauerkraut 3 cups of tomato sauce or 28 ounces of crushed fire-roasted tomatoes, pureed if you like 2 tablespoons tomato paste

What You Do: For the vegetarian filling: 1. Heat the olive oil in a large skillet and add the onion and garlic when hot. 2. Sauté for a few minutes and then add the mushrooms and continue to sauté until they start to brown and shrink. 3. Add the carrot and sauté another minute. 4. Add the lentils, salt, and vinegar or wine and bring to a simmer for a few minutes.

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5. Mash the lentils with a potato masher or large fork and then continue to simmer, uncovered, until they are the consistency of refried beans. Remove from heat and mix in rice. Add salt and pepper and other spices to taste. Shape the mixture into oblong balls, using about 1/3 cup of mixture at a time. For the meat filling: 1. Combine the meat, rice, onion, egg, garlic powder, salt, and pepper. Mix well. 2. Shape meat mixture into oblong balls, using about 1/3 cup of mixture at a time. After you’ve made your filling, start on the rolls: 1. 2. 3. 4. 5. 6.

Spread the sauerkraut in the bottom of a large pot. Steam the cabbage until the leaves are limp and pull away easily. Wrap a cabbage leaf around each ball of filling and place them seam-side down over the sauerkraut. Combine tomato sauce (or canned tomatoes, if using) with tomato paste and ½ cup water and mix well. Pour the sauce over the rolls, and add water to cover if necessary. Bring to a boil, then reduce the heat and simmer until cooked thoroughly and tender, which may be as much as 3 hours (especially if using meat filling). Add more water as necessary. 7. Serve next to a bed of mashed potatoes! Tags: Rice recipe, food, World Cup, soccer, vegetarian

Sprouted Brown Rice, the New Superfood on the Table Jun 18, 2014

Hail sprouted brown rice, the new superfood on your dining table. While brown rice–rice with the outer haul removed in the milling process but the inner haul left intact - itself is a dieters dream come true, when sprouted, its nutrient levels further spike up to turn it into a superfood. Superfood is a nutritious food that is considered good for health and fitness and especially popular in Japanese and Korean cuisine. All it takes to sprout brown rice is a non-GMO brown rice, a glass jar, cotton cloth and water. It can be used raw, boiled or added to flour and in salads.It is rich in enzymes, antioxidants, zinc, potassium and micronutrients, making it an ideal choice for those with constipation or other digestive problems as it tends to curb flatulence. Its low glycaemic and fibre content, and antioxidant properties make it a good bet for diabetics, weight loss and heart-healthy. Tags: Sprouted, brown rice, Health

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Oryza Overnight Recap - Chicago Rough Rice Futures Mixed as July Finds Support from Firmer Grains Jun 18, 2014

Chicago rough rice futures for Jul delivery are currently noted 6.5 cents per cwt (about $1 per ton) higher at $14.715 per cwt (about $324 per ton) as of 9:15am Chicago time. The other grains are seen higher this morning during early floor trading in Chicago: soybeans are currently seen about 0.9% higher, wheat is trading 1.2% higher, and corn is noted about 0.5% higher. U.S. stocks were little changed on Wednesday, pausing after a three-session run up, as investors waited for a policy decision and an updated outlook on the economy from the Federal Reserve. The Federal Open Market Committee is expected to cut its monthly asset purchases by another $10 billion to $35 billion when its releases its decision at 2 p.m. Eastern. Fed officials will also announce quarterly forecasts on the labor market, inflation, economic growth and the benchmark Federal Funds rate, now near zero. Fed Chairman Janet Yellen is expected to address a news conference at 2:30 p.m. The Dow Jones Industrial Average added 2.25 points to 16,810.74. The S&P 500 rose 2.95 points, or 0.1%, to 1,944.94, with utilities pacing sector gains and telecommunications performing most poorly among the benchmark's 10 major industries. The Nasdaq shed 3.80 points, or 0.1%, to 4,333.44. Gold is currently trading about 0.1% lower, crude oil is seen trading about 0.3% higher, and the U.S. dollar is currently trading about 0.2% lower at 8:45am Chicago time. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures

Thailand Military Government Announces Cultivation Subsidy and Soft Loans to Rice Farmers in 2014-15 Crop Season Jun 18, 2014

Thailand military government - National Council of Peace and Order (NCPO) - has announced cultivation subsidy and soft loans as measures to help rice farmers after recently abandoning the populist rice pledging scheme, according to local sources.In a meeting with representatives of government organisations, rice millers and rice growers today, the NCPO Deputy Chief of Economic Affairs announced a cultivation subsidy of around 500 baht per rai, or 3,125 baht (around $96) per hectare for up to 15 rai, or 2.4 hectares per family, based on an average estimated annual cultivation costs of about 4,000 baht per rai, or 25,000 baht (around $769) per hectare. Thailand's average paddy yield is 2.85 per hectare. If they subsidize about $96 per hectare, the subsidy is equivalent to about $34 per ton of paddy.The NCPO Deputy Chief of Economic Affairs noted that the Bank of Agriculture and Agricultural Cooperatives (BAAC) would provide low-interest loans to farmers. The BAAC President said the bank would cut loan interest by about 3% and would extend low-interest loans until the next six months.The Deputy Chief told local media sources that the two measures would be implemented soon after an approval from the NCPO Chief. He clarified

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that the NCPO could not extend subsidy up to 50 rai, or 8 hectares of land as sought by farmers' groups as it would severely affect the national budget. He also noted that the NCPO preferred giving away cultivation subsidies instead of cash subsidies as they feared farmers would misuse the funds.Suppliers of fertilizers, pesticides and other agricultural inputs have agreed to slash their prices so that rice farmers could reduce their production costs by around 432 baht per rai, or 2,700 baht (around $83) per hectare.The President of the Thai Agriculturist Association (TAA) expressed satisfaction at the NCPO's decision and said he was hopeful that farmers could sell their rice paddy at 8,000 9,000 baht (around $246 - $277) per ton. Tags: Thailand rice production, Thailand rice exports

Philippines Explores Niche Export Market with Cordillera Heirloom Rice; Exports 15 Tons to U.S. So Far in 2014 Jun 18, 2014

Surprisingly, Philippines, the known net importer of rice, is securing a small and niche export market with the Cordillera heirloom premium rice grown in the rice terraces of the Cordilleras. The Philippines government is keen on sustaining the World Heritage status of rice terraces, as inscribed by the UNESCO, as well as promote the rice cultural heritage attached to it. The Philippines' Cordillera aromatic rice has got a good demand in the U.S. and around 24.4 tons of various heirloom rice varieties - such as mountain violet, jekot, ulikan, tinawon and dikat - worth P1.3 million (around $29,551) have been shipped to the U.S since 2012. This year, the government has already exported around 15 tons of heirloom rice worth P870,000 (around $19,982) to the U.S, which is part of the agreed 27.6 tons. The 15 tons U.S-bound rice comprised of 10 tons of mina-angan and hungfuan varieties and 5 tons of ulikan variety. The remaining 12.6 tons are currently undergoing organic fumigation, a procedure compliant with the strict U.S. sanitary and phytosanitary requirements, at the Philippine Rice Institute (PhilRice). Heirloom rice is a special kind of indigenous rice that is grown organically, harvested manually and possesses special quality, aroma, texture, color, taste and nutritional value. The government has been supporting the upland farmers growing heirloom rice with requisite funding and research and development initiatives on various organic farming techniques. According to the Department of Agriculture (DA) sources, the production of heirloom rice increased by about 5% during the first cycle of this year with its intervention. Tags: Philippines Rice Production, Philippines rice exports, Philippines rice imports

Cambodia Rice Exports Falter due to Declining Demand and High Prices Jun 18, 2014

Cambodia's rice exports are declining due to a fall in foreign demand and deflated prices in Vietnam and Thailand, according to local sources.The President of the Cambodia Rice Federation (CRF) told local media

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sources that rice stocks from the recent harvests of the 2013-14 second crop (November - March) are piling up in several rice mills, with exporters receiving fewer orders. He noted that rice millers have been able to sell only 20% of the stock from recent harvest, compared to 70% of the stock sold during the same time in 2013.The CRF President said export prices in Thailand and Vietnam are much lower compared to those in Cambodia. Currently, Cambodian rice is quoted at around $440 per ton, while Thai rice and Viet rice are quoted at around $385 and $405 respectively. He noted that with the harvest season for the 2014-15 main crop (June - January) is fast approaching, millers and exporters are concerned of increasing stockpiles, and they have been seeking assistance from the CRF to find buyers for their stocks. He added that slow down in informal exports to Vietnam across the borders this year is also adding to the stockpiles.Rice millers and exporters are further concerned of their repayments affecting due to slack in sales. Analysts view that Cambodia needs to lower export prices of both paddy and milled rice to sustain competition with Thailand and Vietnam. However, the CRF President noted that the quality of Cambodian rice is high compared to others and so they cannot compromise on price. Cambodia exported 27,971 tons of rice in May 2014, down about 22% from about 35,967 tons sold in April 2014 and down about 1% from about 28,350 tons sold in May 2013, according to data from Ministry of Trade. Cambodia exported a total of 378,856 tons of rice in 2013, up about 84% from around 205,717 tons exported in 2012. USDA estimates Cambodia to produce around 4.9 million tons of rice and export around 1 million tons of rice, including both official and unofficial exports, in 2014. Tags: Cambodia rice production, Cambodia rice exports

USITC to Study Global Competitiveness of U.S. Rice Industry Jun 18, 2014

The U.S. International Trade Commission (USITC), an independent, nonpartisan, fact-finding federal agency, has launched an investigation to study global competitiveness of the U.S. rice industry, on request from the U.S. Trade Representative, the House Committee on Ways and Means, according to a statement released by the agency.As part of the investigation, the USITC will study various factors of competition in major rice producing and exporting countries, including Brazil, China, India, Indonesia, Thailand, Uruguay, Vietnam and the U.S. The agency will examine and compare costs of production, industry structure, input prices and availability, pricing and marketing regimes, and government policies that affect rice production and export in the selected countries. The study will highlight the impact of exports from other major rice exporting countries to the U.S. and its traditional export markets such as Mexico, Haiti and West Africa, on the U.S. rice industry.The study will also include a qualitative and quantitative assessment of the impact of government policies and programs in the said countries on rice production, exports, consumption, and domestic and export prices.The USITC will hold a

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public hearing as part of the study on September 10, 2014, and will also encourage written submissions related to the study before December 9, 2014, which would be made available for public inspection. The agency will focus its study during the period 2009 - 2013 and will submit its findings to the Committee by April 14, 2015.USDA estimates MY 2014-15 (August 2014 - July 2015) U.S. milled rice production at around 6.8 million tons, up about 11% from an estimated 6.1 million tons in MY 2013-14. It estimates the U.S. rice exports to increase to about 3.26 million tons in 2015, up about 10% from an estimated 2.96 million tons in 2014. USDA estimates the U.S. rice imports at about 699,000 tons in both 2014 and 2015. Tags: U.S. rice production, U.S. Rice exports, U.S. rice imports

India Government to Release 5 million Tons of Rice Stocks in Open Market to Prevent Price Hikes Following Poor Monsoons Jun 18, 2014

India government will release about 5 million tons of rice from central reserves into the open markets, to prevent rice price hikes due to likely El Nino-triggered poor monsoons, according to Bloomberg.The government is planning to sell the additionally released rice at subsidized prices as soon as possible, according to the Food Minister. The Finance Minister noted that the Central government has ordered all the State government to check hoarding of rice by some market players, adding that these steps are taken in anticipation of further price hikes of the basic commodity. An official statement released by the government stated that the Central government would issue more quantities of rice to the state governments for distribution through the public distribution system (PDS) to combat rising prices. The government is keen on containing wholesale food inflation, which increased to 9.5% in May 2014 from 8.64% in April, due to increase in prices of all basic commodities including rice. Fears are rife that a 7% drop in rainfall during regular (June - September) monsoon season - as predicted by the Indian Meteorological Department) - would further push up food inflation. Therefore relevant food management strategies are called for to control inflation. The government is also planning to provide a diesel subsidy to farmers to allow them to run pumps to irrigate standing crops and more funds to help them buy seeds. According to data from the Food Corporation of India (FCI), India's rice stocks in the Central Pool stand at around 28.03 million tons (including 11.361 million tons of milled rice) as of June 1, 2014, against a buffer norm of about 10 million tons. Analysts already predicted India's current buffer stock of rice would aid the new government in controlling prices. - See more at: http://oryza.com/news/rice-news/india-government-release-5-million-tons-rice-stocks-open-market-prevent-pricehikes#sthash.SLt1eohc.dpuf

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Vietnam Rice Sellers Lower Some of Their Quotes; Other Asia Rice Quotes Unchanged Today Jun 18, 2014

Vietnam rice sellers lowered their quotes for 5% broken rice by about $5 per ton to about $395 - $405 per ton today. India and Pakistan rice sellers kept their quotes mostly unchanged. Thailand rice quotes are not available today. 5% Broken Rice Thai 5% rice (of new crop) was last quoted at around $380 - $390 per ton, about $15 per ton lower than Viet 5% rice (of new crop) shown around $395 - $405 per ton, down about $5 per ton from yesterday. 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) was last quoted at about $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) was last 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) was last quoted at around $310 - $320 per ton, about $20 per ton discount 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

Oryza

Global Rice Quotes

June 19th, 2014

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


Long grain white rice - high quality Thailand 100% B grade 395-405

Vietnam 5% broken

395-405

India 5% broken

435-445

Pakistan 5% broken

440-450

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

390-400

U.S. 15% broken

550-560

Long grain parboiled rice Thailand parboiled 100% stxd

420-430

Pakistan parboiled 5% broken stxd

435-445

India parboiled 5% broken stxd 405-415

U.S. parboiled 4% broken

660-670

Brazil parboiled 5% broken

NQ

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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 Cambodia A1 Super

325-335

350-360

India 100% Broken stxd 315-325

Egypt medium grain brokens

NQ

U.S. pet food

470-480

Brazil half grain

NQ

Medium grain milled U.S. Calrose 4% broken 1070-1080 Egypt medium grain 6% NQ

↔ All prices USD per ton, FOB vessel, oryza.com

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