19th September , 2014
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TOP Contents - Tailored for YOU Latest News Headlines… NEWS DETAILS:
Asia Rice Quotes Unchanged Today Bangladesh Cabinet Committee Approves 50,000 Tons of Rice Exports to Sri Lanka Oryza Global Rice Quotes Exact Losses from Rice Pledging Scheme Can be Estimated Only After Rice Sales, Says BAAC President Thailand Considers New Panel to Address Rice Issues Oryza Afternoon Recap - Chicago Rough Rice Futures Move Higher Despite Unimpressive Export Sales and Bearish Grains Oryza U.S. Rough Rice Recap - Little Trading amid Declining Exports Oryza Overnight Recap - Chicago Rough Rice Futures Attempt to Recover Following Steep Selloff Yesterday India Government Procures 31.542 Million Tons of Rice as of September 16, 2014 in KMS 2013-14 Oryza Weekly Global Rice Weather Recap Revived Monsoons Raise Prospects for India Rice Production and Exports SUPARCO Estimates Pakistan FY 2014-15 Milled Rice Production to Cross 7 Million Tons Due to Better Irrigation Facilites
News Detail…
Asia Rice Quotes Unchanged Today Sep 18, 2014
Asia sellers kept their quotes mostly unchanged today. 5% Broken Rice Thailand 5% rice is quoted at around $430 - $440 per ton, about $10 per ton discount to Vietnam 5% rice shown at around $440 - $450 per ton. India 5% rice is quoted at around $435 - $445 per ton, about $15 per ton premium on Pakistan 5% rice quoted at around $420 - $430 per ton.
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25% Broken Rice Thailand 25% rice was last quoted at around $350 - $360 per ton, about $50 per ton discount to Vietnam 25% rice shown at around $400 - $410 per ton. India 25% rice is quoted at around $390 - $400 per ton, about $20 per ton premium on Pakistan 25% rice quoted at around $370 - $380 per ton. Parboiled Rice Thailand parboiled rice is quoted at around $430 - $440 per ton. India parboiled rice is quoted at around $420 $430 per ton, about $20 per ton discount to Pakistan parboiled rice last quoted at around $440 - $450 per ton. 100% Broken Rice Thailand broken rice, A1 Super, was last quoted at around $310 - $320 per ton, about $25 per ton discount to Vietnam broken rice shown at around $335 - $345 per ton. India broken sortexed rice is quoted at around $330 - $340 per ton, about $5 per ton premium on Pakistan broken sortexed rice quoted at around $325 - $335 per ton. Tags: Vietnam rice prices, India rice prices, pakistan rice prices, Thailand rice prices
Bangladesh Cabinet Committee Approves 50,000 Tons of Rice Exports to Sri Lanka Sep 18, 2014
The Cabinet Committee of Economic Affairs (CCEA) has approved the Bangladesh government's proposal to export 50,000 tons of rice to Sri Lanka, according to local sources.The Finance Minister told local sources that the price of the exports would be decided shortly after considering the international rice prices. He noted that the country has adequate stocks and can accommodate the exports.The South Asian country normally exports aromatic rice in small quantities. During the last two financial years (July - June), it exported aromatic rice worth Tk77 crore (around $9.7 million), according to government data.The Bangladesh government currently holds a stock of 1.1 million tons of rice, according to local sources.The government considered exports to Sri Lanka, whose production is likely to be impacted by a severe drought, despite a continuing ban on non-fragrant rice exports to help Sri Lanka with food security, said the Finance Minister.
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Tags: Bangladesh rice exports, Bangladesh rice stocks, Sri Lanka rice imports
Oryza Global Rice Quotes September 19th, 2014 Long grain white rice - high quality Thailand 100% B grade 455-465 Vietnam 5% broken 440-450 ↔ India 5% broken 435-445 ↔ Pakistan 5% broken 420-430 ↔ Cambodia 5% broken 465-475 ↔ U.S. 4% broken 525-535 ↔ Uruguay 5% broken 610-620 ↔ Argentina 5% broken 610-620 ↔
↑
Long grain white rice - low quality Thailand 25% broken NQ ↔ Vietnam 25% broken 400-410 ↔ Pakistan 25% broken 370-380 ↔ Cambodia 25% broken 450-460 ↔ India 25% broken 390-400 ↔ U.S. 15% broken 515-525 ↔ Long grain parboiled rice Thailand parboiled 100% stxd 430-440 Pakistan parboiled 5% broken stxd 440-450 India parboiled 5% broken stxd 420-430 U.S. parboiled 4% broken 600-610 ↔ Brazil parboiled 5% broken 595-605 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 1065-1075 Vietnam Jasmine 585-595 ↔ India basmati 2% broken NQ ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 880-890 ↔ Brokens Thailand A1 Super
NQ
↔ ↔ ↔
↑
↔
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Vietnam 100% broken 335-345 Pakistan 100% broken stxd 325-335 Cambodia A1 Super 360-370 ↔ India 100% Broken stxd 330-340 Egypt medium grain brokens NQ ↔ U.S. pet food 460-470 ↔ Brazil half grain NQ ↔
↔ ↔ ↔
All prices USD per ton, FOB vessel, oryza.com
Exact Losses from Rice Pledging Scheme Can be Estimated Only After Rice Sales, Says BAAC President Sep 18, 2014
In May this year, Thailand's Finance Ministry estimated the losses from the rice pledging scheme at around 500 billion baht (around $15 billion) and noted that they may rise further. But the President of the Bank of Agriculture and Agricultural Cooperatives (BAAC) told media sources that exact losses from the scheme can be figured out only after all the rice stocks are sold out. He noted that losses can be estimated by comparing the prices at which the government purchased paddy from farmers and the prices at which it is sold. He reminded that the then Yingluck Shinawatra government purchased paddy at about 60% above market prices, but now the same paddy is fetching far below proces due to deterioration in quality as well as a significant fall in market prices after the suspension of the scheme by the military government. The scheme ran for about two and half years from October 2011 to February 2014 and the government had borrowed nearly 750 billion baht (around $23 billion) from the BAAC to finance the scheme. He said the military government's plans to repay the BAAC debt by setting aside some funds from the Central Budget as well as from receipts of rice sales is not a very viable option as it would take nearly seven years to clear the
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debt. Instead he said the government could plan other ways to clear he debt fast as that would reduce public debt levels. Thailand currently holds nearly 18 million tons of rice in warehouses and is planning to clear the stocks in about three years.
Tags: Thai rice stocks, Thai rice sales, Thailand Bank for Agriculture and Agricultural Cooperatives (BAAC)
Thailand Considers New Panel to Address Rice Issues Sep 18, 2014
Thailand government is setting up a new panel consisting of representatives from the Commerce Ministry, rice farmers and other stakeholders to address various issues of the country's rice sector, including low paddy prices and rice sales, according to local sources. The Inspector-General (IG) of the Commerce Ministry and the Spokesman for the Commerce Minister told local sources that the five farmer groups including Thai Farmers Association, the Thai Agriculturists Association, the Thai Farmer Support Association, a network of Thai farmers, and the Community Rice Center have agreed that a panel is needed to sort out the problems of the Thai rice sector more effectively. He noted that the panel would meet every two weeks starting next week, adding that the panel would initially focus over increasing paddy prices, which currently stand at around 7,500 - 8,200 baht (around $232 - $254) per ton and stabilizing them at about 8,500 baht (around $263) per ton. The IG also noted that the panel would also focus on improving grain quality, cutting production costs and increasing paddy yields.
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Rice farmer groups reacted saying that such a panel is imperative to identify actual problems of farmers as well as the rice sector and address them accurately. They again urged the authorities to closely monitor the prices, which are expected to fall when the new harvest from the 2014-15 main crop (February - October) is expected to arrive from November this year. Earlier, the Thai Rice Exporters Association (TREA) suggested the military government to set up a Rice Board to look into the issues of the Thai rice sector.
Tags: Thailand rice sector, Thailand rice production, Thailand rice prices
Oryza Afternoon Recap - Chicago Rough Rice Futures Move Higher Despite Unimpressive Export Sales and Bearish Grains Sep 18, 2014
Chicago rough rice futures for Nov delivery settled 11 cents per cwt (about $2 per ton) higher at $12.620 per cwt (about $278 per ton). Rough rice futures managed to close with double digit gains today, but closed a nickel off of the session high, as the market maid an attempt to recover a good portion of the losses sustained during yesterday’s selloff. Traders see the markets ability to hold above yesterday’s closing price as a positive development, however the inability to chart a higher high is seen as a conflicting sign and therefore today’s action provides little indication of tomorrow’s trade direction. A lackluster export sales report and negativity in the other grains likely limited rice’s upward potential; soybeans closed about 0.9% lower at $9.7150 per bushel; wheat finished about 2.2% lower at $4.8850 per bushel, and corn finished the day about 1% lower at $3.3825 per bushel. U.S. stocks rose on Thursday, with the S&P 500 and Dow industrials toppling records, as investors considered mixed economic reports on jobs and the housing market and continued to relish the Federal Reserve's renewed
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vow to keep benchmark rates low. Economic reports Thursday had the number of Americans filing for jobless benefits dropping to a two-month low and separately, housing starts declined in August.
The Philadelphia Federal Reserve's index of factory activity in the mid-Atlantic region decelerated in September, but its employment component rose to its highest level since the middle of 2011. Rising 106 points to an intraday record, the Dow Jones Industrial Average was lately up 103.54 points, or 0.6%, at 17,260.39. Also rising to an all-time high above 2,011, the S&P 500 recently rose 8.97 points, or 0.5 percent, to 2,010.54, with financials and materials the best performing and utilities and energy the laggards among its 10 major sectors. The Nasdaq gained 30.80 points, or 0.7%, to 4,593.99. Gold is trading about 0.8% lower, crude oil is seen trading about 1.4% lower, and the U.S. dollar is seen trading nearly unchanged at about 1:00pm Chicago time. Wednesday, there were 465 contracts traded, up from 188 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday increased by 42 contracts to 9,043. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Oryza U.S. Rough Rice Recap - Little Trading amid Declining Exports Sep 18, 2014
The U.S. cash market was marginally weaker today amid declining export sales; however, buyers and sellers still remain at odds on price.As of today, offers were slightly weaker and could be seen around $13.00-$13.33 per cwt fob farm (about $287-$294 per ton) while bids could still be found near $13.00-$13.40 per cwt (about $281-$287 per ton) for September-October delivery however there were no trades to report. In the meantime, today the USDA reported that cumulative net export sales for the week ending on September 11, totaled 30,7000 tons which was 4% less than last week and 37% less than the prior 4-week average. Increases reported for the following destinations including: 7,900 tons to Mexico, 6,700 tons to Honduras, 4,700 tons ton unknown destinations, 3,000 tons to South Korea, and 2,600 tons to Haiti.
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U.S. rice exporters shipped 13,500 tons which was 31% less than last week and 52% less than the prior 4-week average. The primary destinations included: 3,600 tons to Mexico, 3,000 tons to Jordan, 3,000 tons to Canada, 1,400 tons to Saudi Arabia, and 500 tons to Taiwan. Tags: U.S. rice prices, U.S. rice market
Oryza Overnight Recap - Chicago Rough Rice Futures Attempt to Recover Following Steep Selloff Yesterday Sep 18, 2014
Chicago rough rice futures for Nov delivery are seen 6 cents per cwt (about $1 per ton) higher at $12.570 per cwt (about $277 per ton) during early floor trading in Chicago. The other grains are seen trading lower this morning: soybeans are currently seen 0.8% lower, wheat is listed about 1.5% lower and corn is noted about 0.6% lower. U.S. stocks rose on Thursday, with the Dow industrials knocking out another record, as investors considered mixed economic reports on jobs and the housing market and continued to relish the Federal Reserve's renewed vow to keep benchmark rates low. Economic reports Thursday had the number of Americans filing for jobless benefits dropping to a two-month low and separately, housing starts declined in August. The Philadelphia Federal Reserve's index of factory activity in the mid-Atlantic region decelerated in September, but its employment component rose to its highest level since the middle of 2011. Rising 87 points to an intraday record, the Dow Jones Industrial Average was lately up 79.86 points, or 0.5%, at 17,236.71. The S&P 500 advanced 8.01 points, or 0.4%, 2,009.58, with financials the best performing and utilities faring the worst among its 10 major sectors. The Nasdaq gained 22.71 points, or 0.5%, to 4,584.90. Gold is currently trading about 0.8% lower, crude oil is seen trading about 0.5% lower, and the U.S. dollar is currently trading a touch lower at 10:00am Chicago time. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
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India Government Procures 31.542 Million Tons of Rice as of September 16, 2014 in KMS 2013-14 Sep 18, 2014
The Food Corporation of India (FCI), the nodal agency for food grain procurement and distribution has procured around 31.542 million tons of rice as of September 16, 2014 in KMS 2013-14 (October 2013 September 2014), according to data by the Ministry of Consumer Affairs, Food & Public Distribution. Local sources say rice procurement by the government agencies Food Corporation of India (FCI) and State agencies in the current KMS may fall short of the targeted 34.3 million tons (31.1 million tons of rice from the Kharif crop and 3.2 million tons from the rabi crop) due to sluggish arrivals from Andhra Pradesh and Odisha, where paddy production was badly affected by cyclones and excess rainfall.
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Punjab (8.1 million tons), Telangana (4.3 million tons), Chhattisgarh (4.29 million tons) and Andhra Pradesh (3.7 million tons) are the top contributors to the central pool so far in KMS 2013-14.The Indian government is targeting to procure 30.05 million tons of rice during the KMS 2014-15. Tags: India rice procurement, Kharif Marketing Season (KMS), Food Corporation of India (FCI)
Oryza Weekly Global Rice Weather Recap Sep 18, 2014
Heavy rain is expected across south-western and eastern Yunnan, central and northern Guizhou, eastern Sichuan, most places of Chongqing, western Hubei, southern Anhui and northern Zhejiang in China during Thursday to Saturday. Last week showers in the Yangtze Valley continued to boost moisture supplies lowered from inconsistent seasonal rainfall, and aided late- and single-crop rice that was planted later in the season. Scattered rain is expected across Thailand during the next four days. Rain showers are expected to continue across Vietnam on Thursday and Friday. In Vietnam, below-average rainfall aided summer rice harvesting in the south, while winter rice transplanting began in the north. In India, heavy rain is expected in isolated places over Andhra Pradesh, Odisha, and West Bengal from Thursday through Saturday. Weather is expected to remain dry elsewhere. Drier weather in northern India is providing more favourable conditions for maturing rice. Light rain is expected in isolated places in Malakand, Hazara, Rawalpindi divisions, Islamabad, Kashmir and Gilgit-Baltistan in Pakistan today and tomorrow. Light to moderate rain showers are likely to occur in many places over Dhaka, Khulna, Barisal, Chittagong, Sylhet divisions, Rajshahi and Rangpur divisions in Bangladesh during the next two days. Heavy showers through the month maintained good moisture supplies for summer (aman) rice in Bangladesh. The U.S. rice producers harvested 36% of the nation’s rice crop by September 14, 3% ahead of last year, according to the USDA. Rainfall in the Mississippi River Valley of Arkansas slowed the rice harvest there. Overall, 74% of the rice crop was reported in good to excellent condition. Tags: Rice weather, rice crop forecast
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Revived Monsoons Raise Prospects for India Rice Production and Exports Sep 18, 2014
India's rice production in the 2014 kharif season (June December) was expected to be suppressed due to late arrival of rains in this monsoon season (June - September). Farmers start planting for the main summer crop with the arrival of monsoons in June. Due to delay in monsoon rains, kharif rice planting too got delayed in many regions further intensifying concerns about rice production in the Asian subcontinent.However, arrival of rains since mid July helped farmers speed up the planting process reviving hopes for a better harvest. Agricultural experts and farmers expressed optimism that the kharif planting, which has been so far lagging last year's planting, is likely to surpass last year's leading to a higher output as well. Kharif rice output accounts for nearly 86% of India's total rice production.The Executive Director (ED) of the All India Rice Exporters Association (AIREA) told local sources that 2014-15 (October - September) would be higher than that in 201314 without quantifying the increase. He stated that increase in basmati rice acreage by about 40% year-on-year to around 3.5 million hectares in this kharif season would also contribute significantly to India's total rice output. The ED also noted that increased output may translate into higher exports in 2015, adding that it may also lead to a correction in global rice export prices, which increased by about 12% in the last three months. Export prices of benchmark Thai 5% rice increased to around $442 per ton in August from about $397 per ton in June 2014, acoridng to the UN FAO. India rice prices have been stable at around $385 per ton.According to data from the Agriculture Ministry, India's kharif rice planting around reached around 36.669 million hectares of rice area as of September 12, 2014, down slightly from around 36.788 million hectares planted during the same time last year. India's production in 2013-14 is estimated at around 106.54 million tons (91.69 from kharif and 14.85 from rabi), up about 1% from around 105.31 million tons in 2012-13. USDA estimates India's 2014-15 (October September) production at around 103 million tons, down about 3% from an estimated 106.54 million tons in
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2013-14. It estimates 2015 India rice exports to decline to around 8.7 million tons, down about 13% from an estimated 10 million tons this year. Tags: , India kharif rice production, India rice exports, All India Rice Exporters Association (AIREA)
SUPARCO Estimates Pakistan FY 2014-15 Milled Rice Production to Cross 7 Million Tons Due to Better Irrigation Facilites Sep 18, 2014
The National Space Agency of Pakistan (SUPARCO) has estimated Pakistan FY 2014-15 (July - June) milled rice production to cross 7 million tons assuming a normal crop condition in its August crop report.According to the report, planting of coarse rice for the FY 2014-15 kharif rice crop (May - December) was completed by early July and has reached heading or panicle formation stage. Coarse rice is mainly grown in the Sindh province.According to data from SUPARCO, average yield of coarse rice in FY 2013-14 was at around 5 tons per hectare and the average production cost was at around Rs.18,000 per acre (around $435 per hectare). Based on the data from the Rice Exporters Association of Pakistan (REAP), the Pakistani government earned over $1000 million from non-basmati rice exports in FY 2013-14. Pakistan's major destinations for non-basmati rice exports are Kenya, China, Madagascar, Tanzania, Benin, Mozambique and Malaysia. It exports nonbasmati rice to nearly 100 countries across the globe. According to SUPARCO, the cumulative monthly rainfall in August was below normal and temperatures were relatively higher. However, water supply from irrigation head works was higher by about 34% higher compared to last year's supply.USDA estimates Pakistan to produce about 6.6 million tons of rice, basis milled, in MY 2013-14 (November 2013 - October 2014). It estimates Pakistan rice production to increase to about 6.7 million tons in MY 2014-15. Tags: Pakistan rice production, Pakistan Space and Upper Atmosphere Research Commission (SUPARCO
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