1st October, 2014
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TOP Contents - Tailored for YOU Latest News Headlines…
Brazil Paddy Rice Index Down Last Week Oryza Afternoon Recap - Chicago Rough Rice Futures Settle Little Changed as Prices Pull Back from Overnight Highs Global Rice Quotes Oryza U.S. Rough Rice Recap - IGB Cancels Third Tender; Prices Remain Steady but Sentiment Could Change Oryza Overnight Recap – Chicago Rough Rice Futures Tip-toe Higher as Market Faces Technical Resistance around $12.800 per cwt Thailand to Sell 50,000 Tons of Rice to Export Companies Thailand, India Rice Quotes Lower Today; Other Asia Rice Quotes Unchanged Oryza September 2014 Rice Market Review Vietnam Exports 4.57 Million Tons Rice January 1 to September 25, 2014 A Thai-Malay Fusion Breakfast with Sticky Rice
NEWS DETAILS:
Brazil Paddy Rice Index Down Last Week
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Sep 30, 2014
The Brazilian paddy rice index maintained by CEPEA reached around 36.69 real per 50 kilograms as of September 29, 2014, down about 0.5% from around 36.86 real per 50 kilograms recorded on September 22, 2014.In terms of USD per ton, the index reached around $299 per ton on September 29, 2014, down about 3% from around $309 per ton recorded on September 22, 2014. Tags: brazialian rice prices, Rice Prices, Brazil
Oryza Afternoon Recap - Chicago Rough Rice Futures Settle Little Changed as Prices Pull Back from Overnight Highs Sep 30, 2014
Chicago rough rice futures for Nov delivery settled 1 cent per cwt (about $0.22 per ton) higher at $12.745 per cwt (about $281 per ton). Rough rice futures finished the day little changed after trading up as much as 10 cents per cwt (about $2 per ton) higher overnight. The market continues to fail to break through the previous sessions high and remains trapped by converging points of support and resistance provided by the 10-day and 50-day moving averages, noted at $12.705 and $12.805 per cwt (about $280 and $282 per ton) respectively. A breakout to either side of these points of technical importance will likely signal the markets direction for coming sessions. The other grains finished the day sharply lower; Soybeans closed about 1.1% lower at $9.1325 per bushel; wheat finished about 0.7% lower at $4.7875 per bushel, and corn finished the day about 1.5% lower at $3.2175 per bushel.U.S. stocks fluctuated on Tuesday, waffling after the prior day's drop, as eBay led technology shares higher and portfolio managers engaged in end-of-quarter positioning. Equities had declined after the Conference Board's consumer confidence index fell to 86 in September from 93.4 the month before and below an expected 92.5. The S&P/Case-Shiller index of property prices also came in below expectations, rising 6.7% from July 2013. Rising as much as 73 points and falling 54, the Dow Jones Industrial Average was lately off 49.52 points, or 0.3%, at 17,021.70. The S&P 500 declined 8.44 points, or 0.4%, to 1,969.36, with energy and materials the worst performing and telecommunications and technology faring best among its 10 major sectors. The Nasdaq shed 17.41 points, or 0.4 percent, to 4,488.44. Gold is trading about 0.7% lower, crude oil is seen trading about
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3.6% lower, and the U.S. dollar is seen trading about 0.4% higher at about 1:00pm Chicago time.Monday, there were 1,639 contracts traded, up from 1,000 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday increased by 556 contracts to 10,014. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Global Rice Quotes September 30th, 2014
Long grain white rice - high quality Thailand 100% B grade 445-455
↓
Vietnam 5% broken
440-450
↔
India 5% broken
420-430
↓
Pakistan 5% broken
405-415
↔
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
355-365
↔
Cambodia 25% broken 450-460
↔
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India 25% broken
375-385
↓
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 410-420
↓
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% Vietnam Jasmine
1065-1075 585-595
↔
India basmati 2% broken
NQ
↔
Pakistan basmati 2% broken
NQ
↔
Cambodia Phka Malis 880-890
↔
↔
Brokens Thailand A1 Super
NQ
↔
Vietnam 100% broken 335-345 Pakistan 100% broken stxd Cambodia A1 Super India 100% Broken stxd
↔
320-330
360-370
↔
↔
320-330
↓
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Egypt medium grain brokens
NQ
U.S. pet food
↔
460-470
Brazil half grain
NQ
↔
↔
All prices USD per ton, FOB vessel, oryza.com
Oryza U.S. Rough Rice Recap - IGB Cancels Third Tender; Prices Remain Steady but Sentiment Could Change Sep 30, 2014
The U.S. cash market was relatively unchanged today; however, sentiment could change after news that the Iraqi Grain Board canceled their third consecutive tender.As of today, offers could still be found near $13.00$13.33 per cwt fob farm (about $287-$294 per ton) while bids held steady around $13.00-$13.33 per cwt (about $287-$294 per ton) for October delivery; however, no trades were reported. Tags: U.S. rice prices, U.S. rice market
Oryza Overnight Recap – Chicago Rough Rice Futures Tip-toe Higher as Market Faces Technical Resistance around $12.800 per cwt Sep 30, 2014
Chicago rough rice futures for Nov delivery are seen 5 cents per cwt (about $1 per ton) higher at $12.785 per cwt (about $282 per ton) during early floor trading in Chicago. The other grains are seen trading lower this morning: soybeans are currently seen 0.9% lower, wheat is listed about 1.5% lower and corn is noted about
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0.4% lower. U.S. stocks fluctuated on Tuesday, cutting quarterly gains, as a report on consumer confidence disappointed. The Conference Board's measure of consumer confidence in September came in at 86.0 versus an expected 92.5. Already down more than 20 points ahead of the sentiment gauge, the Dow Jones Industrial Average fell 50 points in its wake. Tuesday's data had the price of single-family homes rising in July from a year earlier, but stock-futures cut their gains after the S&P/Case Shiller release came in below expectations. Erasing opening gains, the Dow Jones Industrial Average was lately off 51.33 points, or 0.3%, at 17,019.89. The S&P 500 dropped 6.70 points, or 0.3%, to 1,971.00, with energy and materials the worst performing and utilities and telecommunications faring the best among its 10 major sectors. The Nasdaq shed 15.58 points, or 0.4%, to 4,490.28. Gold is currently trading about 0.2% lower, crude oil is seen trading about 1.1% lower, and the U.S. dollar is currently trading about 0.4% higher at 10:00am Chicago time. Tags: chicago rough rice futures, Rice Prices, U.S. rice prices
Thailand to Sell 50,000 Tons of Rice to Export Companies Sep 30, 2014
Thailand’s Commerce Ministry plans to sell 50,000 tons of rice to export companies in Thailand who already have orders, according to the director general of the Department of Foreign Trade, Bloomberg reports.This would be the thirds round of rice sales from stocks, the first two sales having not gone well due to lower than hoped bids. Looking further out, in October Thailand is expected to discuss rice sales with China’s Cofco and in November Iran’s government will send a team to Thailand to check on rice quality for a potential sale. Thailand has so far shipped about 200,000 tons to China in an earlier deal, according to Bloomberg. Tags: Thailand rice sales, Thailand rice auction, Thailand rice exports, Thailand
Thailand, India Rice Quotes Lower Today; Other Asia Rice Quotes Unchanged Sep 30, 2014
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sellers lowered their quotes for 5% broken rice and parboiled rice by about $5 per ton to about $430 - $440 per ton each today. India rice sellers lowered most of their quotes by about $5 - $10 per ton. Vietnam and Pakistan rice sellers kept their quotes mostly unchanged today. 5% Broken Rice Thailand 5% rice is quoted about $430 - $440 per ton, down about $5 per ton from yesterday and about a $10 per ton discount to Vietnam 5% rice shown about $440 - $450 per ton. India 5% rice is quoted about $420 - $430 per ton, down about $5 per ton from yesterday and about a $15 per ton premium on Pakistan 5% rice quoted about $405 - $415 per ton.
25% Broken Rice Thailand 25% rice was last quoted about $350 - $360 per ton, about a $50 per ton discount to Vietnam 25% rice shown about $400 - $410 per ton. India 25% rice is quoted about $375 - $385 per ton, down about $5 per ton from yesterday and about a $20 per ton premium on Pakistan 25% rice quoted at about $355 - $365 per ton. Parboiled Rice Thailand parboiled rice is quoted about $430 - $440 per ton, down about $5 per ton from yesterday. India parboiled rice is quoted about $410 - $420 per ton, down about $5 per ton from yesterday and about a $15 per ton discount to Pakistan parboiled rice quoted about $425 - $435 per ton. 100% Broken Rice Thailand broken rice, A1 Super, was last quoted about $310 - $320 per ton, about a $25 per ton discount to Vietnam broken rice shown about $335 - $345 per ton. India broken sortexed rice is quoted about $320 - $330 per ton, down about $10 per ton from yesterday and on par with Pakistan broken sortexed rice quoted about $320 - $330 per ton. Tags: asian rice quotes, asian rice prices, Rice Prices
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Oryza September 2014 Rice Market Review
Sep 30, 2014
The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes, ended the month of September at about $466 per ton, down about $9 per ton from a month ago and up about $14 per ton from a year ago. The International Grain Council (IGC) forecast that global rice production will reach around 476 million tons in 2014-15, almost unchanged from last year. A smaller rice crop expected from India is projected to offset increases elsewhere. Global rice trade is expected to reach at about 41 million ton tons in 2014-15, up about 2.5% from last year. Meanwhile, carryover rice stocks are expected to reach at about 104 million tons in 201415, down about 5% from last year, due to higher demand from South Asia and sub-Saharan Africa; global rice consumption is expected to reach about 481 million tons, up about 1% from last year. Thailand
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Thailand 5% broken rice ended the month of September at about $435 per ton, down about 1% from a month ago and up about 4% from a year ago. Thailand tried to sell about 140,000 tons of rice in an auction in mid of September but manage to sell only 70,000 tons of rice. This is the second auction that is conducted after the military government took over in May this year. First auction was conducted on August 7 to sell 167,000 tons of rice but the Ministry could sell only 73,000 tons as bids received were lower than the prescribed floor price. Thailand exported about 5.62 million tons of rice in the first seven months of 2014, up about 55% from about 3.61 million tons exported during the same period in 2013, according to data from Thai Rice Exporters Association (TREA). Separately, Thailand government is planning to clear its stockpiles by selling more rice in China through conducting road shows, according to local sources. Meanwhile, Thailand had suspended the "Rice for High-Speed Rail" program with China last week citing huge price differential as the reason, according to local sources. China and Thailand struck the deal in October 2013, under which China would build a high-speed rail network in Thailand in exchange for its rice. Thailand's newly appointed Commerce Minister is keen on prioritizing rice sector reforms, including sale of 18 million rice stocks in government warehouses, driving up rice prices, reducing production costs and driving exports, according to local sources. Meanwhile, 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. Earlier to this month, Thailand's military government made a plan to spend about 131.3 billion baht (about $4 billion) yearly, including about 71.3 billion baht (about $2.2 billion) in the 2015 budget and another 60 billion baht (about $1.86 billion) from selling stockpiles, to clear of the debts associated with the controversial ricepledging scheme introduced by the previous government. However, Thailand's President of the Bank of Agriculture and Agricultural Cooperatives (BAAC) has criticized this program, saying that at this rate, the present government and the upcoming governments would need about seven fiscal years to clear off these debts. A study by the University of the Thai Chamber of Commerce's (UTCC) International Trade Studies (ITS) Center has called for an urgent revamp of the Thai rice sector in order to retain its share in the global rice market, according to local sources. Thailand's Public Warehouse Organization (PWO) is also working towards establishing, producing, and marketing its own jasmine rice brand within this year, according to local sources. The organization is targeting to produce about 10,000 tons rice, adding that it is keen on selling a major chunk of it to China. India
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India 5% broken rice ended the month of September at about $425 per ton, down about 3% from a month ago and up about 1% from a year ago. India average wholesale rice prices decreased sharply by about 23% to about Rs.2, 517 per quintal, (about $411 per ton; using current exchange rates) in September 2014, from about Rs.3, 254 per quintal (about $542 per ton; using historical exchange rates) in August 2014, and down about 7% from about Rs.2, 699 per quintal (about $435 per ton; using historical exchange rates) in September 2013, according to official sources. The Food Corporation of India (FCI), the nodal agency for food grain procurement and distribution, has procured about 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. The Indian government is targeting to procure 30.05 million tons of rice during the KMS 2014-15. Separately, most of the Indian states including Uttar Pradesh, Bihar, Telangana and Odisha, have been refusing additional rice allocations by the Central government under the targeted public distribution system (TPDS) due to lack of adequate storage facilities, according to local sources. In June 2014, the Indian government decided to release an additional 5 million tons of rice from central reserves into the open markets to prevent rice price hikes and inflation. The Food Ministry directed all the state governments to distribute the additional allocations to the above poverty line (APL) and below poverty line (BPL) families. The Indian government is seeking a revision of the rice subsidy norms by the World Trade Organization (WTO) to give it more room for public procurement and continuation of the Food Security Act, according to local sources. Currently, the WTO does not permit subsidies higher than 10% of the total production of any commodity, including rice. According to domestic subsidies data submitted by the Indian government last week, India's annual subsidies have reached about $2.28 billion of about 7% of the total rice production for the FY 2010-11. According to some Officials, India may cross the 10% limit within a few years and that would severely impact its rice procurement for food security purposes. If India breaches this limit, the government may not be able to further increase the minimum support price (MSP) for rice. Meanwhile, Indian non-basmati rice exporters are keen to enter the lucrative China rice import market and are urging the government to discuss the issue with the Chinese Premier, who is visiting India this week, according to local sources. Separately, India's basmati rice exports to Iran and Iraq have declined by nearly half in the first four months of the fiscal year 2014-15 (April - March) causing concerns over the overall basmati rice exports this year as well its impact on the domestic prices, according to local sources. The ongoing Islamist insurgency problems in Iraq are main reason for slowing down of its rice imports, say India rice exporters.
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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). The Executive Director (ED) of the All India Rice Exporters Association (AIREA) told local sources that rice production in 2014-15 (October - September) would be higher than that in 2013-14 without quantifying the increase. He reports an increase in basmati rice acreage by about 40% year-on-year to about 3.5 million hectares in this kharif season, which would contribute significantly to India's total rice output. According to data from the Agriculture Ministry, India's kharif rice planting about reached about 37.487 million hectares of rice area as of September 26, 2014, up slightly from about 37.427 million hectares planted during the same time last year. India's rice production in 2013-14 is estimated at about 106.54 million tons (91.69 from kharif and 14.85 from rabi), up about 1% from about 105.31 million tons in 2012-13. Separately, the Indian government has estimated 2014-15 (October 2014 - September 2015) kharif rice production at about 88.02 million tons, down about 4% from about 91.69 million tons produced during the same time in 2013-14, according to a statement from the Agriculture Ministry, despite higher acreage. Meanwhile, the USDA estimates India's 2014-15 (October September) production at about 103 million tons, down about 3% from an estimated 106.29 million tons in 2013-14. However, few analysts say India 2014-15 production may be about 10% below last year's. India will import 100,000 tons of rice from Myanmar to address temporary disruptions in transporting rice to the North Eastern states of Tripura, Mizoram, Manipur, and parts of Assam due to proposed broadening of a 200 kilometer railway line. According to Reuters, the Indian government will have to import 100,000 tons of rice before the proposed railway repair work begins in October this year. The work is supposed to continue till April 2015. India's rice exports to the least developed countries (LDCs) have increased about 23 times from about $78 million in 2009 to about $1.8 billion in 2013, according to a report from USDA. India’s rice stocks in the central pool as of September 1, 2014 were about 21.65 million tons (including a milled equivalent of about 6.65 million tons of paddy), down about 18% from about 26.604 million tons recorded during the same time last year, according to data from the Food Corporation of India (FCI). Current rice stocks are about double the required buffer and strategic reserve norms of about 11.8 million tons for this time of the year, according to the FCI. Vietnam Vietnam 5% broken rice ended the month of September at about $445 per ton, down about 1% from a month ago and up about 22% from a year ago.
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Vietnam exported about 4.57 million tons of rice in January 1 - Sep 25, 2014, down about 12% from about 5.22 million tons of rice exported during Jan -Sep, 2013, according to data from the Vietnam Food Association (VFA). Average rice export price so far in this year stands at about $431 per ton (FOB), up about $1 per ton from same time last year. Vietnam's 2014 paddy rice production is estimated at about 45 million tons (about 28.125 million tons, basis milled), up about 2% from about 44.17 million tons (about 27.6 million tons, basis milled), according to the Vietnam Agriculture Ministry. The government of Vietnam has authorized the state-owned rice exporting companies Northern Food Corporation (Vinafood 1) and Southern Food Corporation (Vinafood 2) to negotiate and make direct transactions with highly concentrated rice markets, which normally buy rice through bidding. Pakistan Pakistan 5% broken rice ended the month of September at about $410 per ton, down about 7% from a month ago and up about 5% from a year ago. Pakistan has exported about 381,044 tons of rice, including basmati and non-basmati, in the first two month of FY 2014-15 (July 2014 - June 2015), down about 6% from about 406,835 tons exported during the same period in FY 2013-14, according to provisional data from the Pakistan Bureau of Statistics (PBS). Separately, the National Space Agency of Pakistan (SUPARCO) has estimated Pakistan FY 2014-15 (July - June) milled rice production to cross 7 million tons. The FAO has estimated that as of September 18, 2014, about 986,000 hectares of standing cereal crops, including kharif paddy (April - December), have been destroyed in Pakistan due to recent floods. However, the agency estimates Pakistan's 2014 paddy rice production at about 10.4 million tons (about 6.67 million tons, basis milled), up about 2% from about 10.19 million tons (about 6.5 million tons, basis milled) produced in 2013. According to the FAO, domestic rice prices of basmati rice in Pakistan remained stable at about Rs.76,540 per ton (about $735) since June last year and prices of non-basmati remained stable at about Rs.61,540 per ton (about $590) since May this year. However, the prices are expected to increase in 2015 if the production from the current kharif crop is affected significantly. Meanwhile, Pakistan rice exporters led by the Union of Small and Medium Enterprises (UNISAME) has requested the Finance Minister to exempt the country's rice sector for holding tax saying the measure would give some relief to them in the event of colossal floods and consequent losses, according to local sources. Brazil
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Brazil 5% broken rice ended the month of September at about $610 per ton, unchanged from a month ago and down about 5% from a year ago. Brazil’s National Grains Supply Company (Conab) has lowered its paddy rice production forecast for 2013-14 to about 12.162 million tons, slightly down from its August estimate of about 12.182 million tons, and up about 3% from about 11.82 million tons produced in 2012-13. Meanwhile, Brazil has exported about 557,063 tons of rice in January - August 2014 according to data released by the Rice Institute of Rio Grande do Sul (IRGA). The Brazilian paddy rice index maintained by CEPEA reached about 36.69 real per 50 kilograms (about $299 per ton) as of September 29, 2014, down about 0.08% from about 36.72 real per 50 kilograms (about $327 per ton) from a month ago. U.S. U.S. 4% broken rice ended the month of September at about $530 per ton, down about 2% from a month ago and down about 12% from a year ago. Separately, California rice producers in the U.S. have expressed concerns that the continuing drought in the state would likely impact the decomposition of the post-harvest rice-straw left in the fields posing problems for planting next crop, according to local sources. California's paddy rice acreage has so far declined to about 420,000 hectares in 2014, down about 25% from about 525,000 hectares planted last year. Market experts say paddy production in other rice producing states of the U.S. seems to be better, leading to an increase in the overall production. USDA estimates the U.S. milled rice production to increase to about 7.3 million tons (about 10.4 million tons, basis paddy) in MY 2014-15 (August - July), up about 20% from about 6.1 million tons (about 8.6 million tons, basis paddy) in the previous year. It estimates the rice area at about 1.2 million hectares, up about 11% from about 999,000 hectares last year. China China has imported about 1.503 million tons of rice in the first seven months of 2014 (January - July), down about 6% from about 1.587 million tons imported during the same period last year, according to data from China Customs General Administration. Meanwhile, China has exported about 135,573 tons of rice in January August 2014, down about 59% from about 326,781 tons exported during the same period last year, according to data from the China Customs General Administration. China paddy rice production is expected to reach at about 205 million tons in 2014, up about 1% from about 203.6 million tons produced in 2013, according to the FAO. The FAO expects China to import about 2.4 million tons rice in 2014.
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Africa The Bank of Industries (BOI) in Nigeria is collaborating with the Federal Ministry of Agriculture and Rural Development (MARD) to provide N13 billion (about $79 million) rice intervention fund to help boost rice production in the country, according to local sources. This fund would be used to establish 10 integrated rice mills across the nation. The Multi-Stakeholder Rice Producers and Marketers Association (MSRPMA) in Ghana has urged the government to step up efforts to increase rice production and reduce imports in the country in line with their promises to do so, according to local sources. Ghana produces only 35% of the required demand of about 975,000 tons and imports the rest. The Ghanaian government is losing about GH Cedi 76.8 million (about $22.5 million) annually due to the continuing ban on inland rice importation, a Special Advisor for Local Rice Production was quoted as saying. Rice prices in Liberia have increased significantly over the past few weeks due to the outbreak of the deadly Ebola virus, according to local sources. People depending on small businesses have been badly hurt due to the outbreak of the virus and rice prices have been officially increased to about $17 per a 25 kilogram bag from about $15 two weeks ago. Local sources say traders are selling rice at about $20 for a 25 kilogram bag without honoring the government set price. The China National Rice Research Institute (CNRRI) will provide technical support to the Kenyan government to help it boost rice production in the country, according to China's Agriculture Ministry website. Currently, Kenya produces only 16% of over 400,000 tons of rice needed for domestic consumption and imports the remaining. Philippines The Philippines willimport about 500,000 tons of 25% broken white rice from Thailand and Vietnam under government-to-government deals between October and December this year to boost its stocks and curb price hikes. In August, the National Food Authority (NFA) of the Philippines has rejected all bids in a tender issued in same month as the prices received were higher than their budgeted price of about $456.6 per ton. The Philippines is expected to import over 2 million tons of rice this year at zero-percent duty. Additionally, the private sector can import about 350,000 tons at 40% duty under WTO quota. The NFA Council has authorized the NFA to import another 500,000 tons of rice if need arises. Meanwhile, the Philippines has lost about 87,576 tons rice due to two typhoons 'Lui' and 'Mario,' which hit Philippines recently, according to the crop damage report released by the Philippines' Department of
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Agriculture. The report showed that about 119,997 hectares of rice acreage affected by the typhoons, in which about 112,879 hectares of rice acreage may recover. Due to loss of rice, the Philippines could miss its Q4 rice production forecast of about 7.32 million tons by about -1.2%, the Philippines' Department of Agriculture said in the report. Average domestic rice prices in the Philippines increased sharply during the first eight-month period of 2014, according to data from the Philippines Bureau of Agricultural Statistics (BAS). Retail prices of both well-milled rice (WMR) and regular-milled rice (RMR) as well as wholesale prices of WMR reached their highest values since the beginning of this year. Total rice stocks in the Philippines as of August 1, 2014 reached about 1.72 million tons, down about 15% from about 2.03 million tons recorded in July 2014, and down about 7.4% from about 1.86 million tons recorded during the same period last year, according to the Bureau of Agricultural Statistics (BAS). Total rice stocks as of August 1, 2014 are enough to last for 51 days, BAS said. Myanmar The FAO forecasted Myanmar's MY 2014-15 (July - June) milled rice exports at about 700,000 tons, up 25% from its last month's forecasts. While the agency estimates Myanmar's aggregate paddy rice production in 2014 at about 29.5 million tons (about 18.9 million tons, milled basis), up about 2.5% from about 28.77 million tons (about 18 million tons, milled basis) produced in 2013 due to small expansion in planted area. The wholesale rice prices in Myanmar stood at about 384,460 kyat (about $400) per ton in August 2014, down about 1% from a month earlier and slightly up from their year-ago levels of about 382,730 kyat (about $390) per ton. Myanmar’s government targets to export over 1 million tons this year; while local rice exporters in Myanmar expect to export between 1.5 million and 2 million tons of rice in 2014 given huge demand from China, Africa and the European Union. Separately, agricultural experts from Myanmar are keen on using the technical expertise of Japan in increasing the country's rice production and exports, according to local sources. Other Markets The Bangladesh government has extended its Boro rice procurement deadline for FY 2014-15 (July - June) by one month to September 30, 2014 as it could not achieve the original target of procuring one million tons of Boro milled rice and 150,000 tons of Boro paddy by August 31, 2014. Procurement of Boro rice and paddy started on May 1, 2014. As of August 31, the government authorities could procure only 835,525 tons of Boro milled rice (about 774,622 tons of boiled rice and about 60,903 tons of non-boiled rice) and 9,823 tons of
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paddy. Last year, the government Boro rice procurement stood at about 831,166 tons, down about 8% from the targeted 900,000 tons mainly due to low prices offered by the government. Meanwhile, the Cabinet Committee of Economic Affairs (CCEA) of Bangladesh has approved the government's proposal to export 50,000 tons of rice to Sri Lanka, 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. The South Korean government has decided to increase its fixed direct subsidies to rice farmers to about 1 million won (about $954) per hectare, up about 10% from existing 900,000 won (about $859) per hectare as part of its measures to open its rice import market, according to local sources. The government has also decided to increase direct subsidies for winter paddy crop to about 500,000 won (about $477) per hectare from the current 400,000 won (about $382) per hectare. Meanwhile, South Korea has imposed a tariff of 513% on rice imports from January 2015, when it will liberalize its rice markets. This tariff is applicable on imports over and above its minimum market access (MMA) quota of about 409,000 tons under WTO regulations. Imports under the MMA quota would attract a tariff of 5%. Separately, South Korean farmers and civic groups are protesting the government's stance to liberalize the country's rice import market and imposing tariffs at 513% saying the move would demean the local rice industry. Separately, the South Korean government will procure 370,000 tons of locally produced rice this year to boost the country's stockpiles as well as to control falling prices; local sources quoted a press release from the Ministry of Agriculture, Food and Rural Affairs (MAFR) as saying. Malaysia's state grains buying agency Bernas has bought 200,000 tons of rice from the latest 2014 off-season crop (January - July), harvested in July-August from Thai exporters via private deals for immediate delivery, according to Reuters. Australia's paddy rice production in MY 2014-15 (April 2014 - March 2015) is estimated to increase to about 894,000 tons, up about 7% from an estimated 833,000 million tons in MY 2013-14, according to data from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). The Sri Lankan government has decided to introduce a mobile rice supply system to ensure uninterrupted supplies in the country as well as to curb hoarding and further spike in prices, according to local sources. The Egyptian government has decided to lift the ongoing ban on rice exports during the MY 2014-15, according to Bloomberg. A statement from Cabinet was quoted as saying that the government would allow exports until September 2015 or until the export will reach 1 million tons, whichever is earlier.
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Cambodia 5% broken rice ended the month of September at about $470 per ton, unchanged from a month ago and up about 4% from a year ago. A U.S. based agriculture consultancy firm has urged Cambodia rice exporters to focus on promoting their exports to the Chinese market as it has a huge untapped potential for more imports in the future, according to local sources. Indonesia's state procurement body Bulog has signed a contract with Vietnam to purchase about 200,000 tons of rice for delivery between October and December this year. According to deal, Vietnam will supply 50,000 tons of 5% broken rice at $443.5 per ton, fob basis, and 150,000 tons of 15% broken rice at 4421 per ton. Meanwhile, Indonesia has imported about 425,000 tons of rice so far in 2014 from Thailand and Vietnam to build up stockpiles and to stabilize domestic prices. Research and Scientific Development: Indian scientists have developed a new pest-resistant and high-yielding basmati rice variety, called 'Pusa 1609'. http://www.oryza.com/news/rice-news/india-develops-new-pest-resistant-and-high-yielding-basmati-ricevariety A new study by Stanford Woods Institute Senior Fellow Peter Vitousek and his team at the China Agricultural University has found that rice cultivation methods in China could be designed in such a manner so as to improve yields while reducing environmental damages. http://www.oryza.com/news/rice-news/researchers-find-new-approach-increase-rice-yields-and-reducegreenhouse-gases-china Dr.Reiner Wassmann, Coordinator of the Climate Change Research at the International Rice Research Institute (IRRI) highlights the importance of the impact of climate change on rice production in various countries and possible means of its mitigation. http://www.oryza.com/news/rice-news/%E2%80%98extreme-events%E2%80%99-climate-change-couldthreaten-rice-production-warns-irri-scientist South Korea has developed a range of new rice varieties that are rich in nutrients and have some medicinal properties. http://www.oryza.com/news/research-development/korea-develops-nutrient-rich-rice-varieties
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A study by a group of researchers from Japan and South Korea revealed that exposing young rice plants to continuous low doses of radiation would damage the genetic composition of rice leaves. http://www.oryza.com/news/research-development/study-finds-nuclear-contamination-damages-ricegenome September Tenders: India issued two tender to buy about 10,000 tons of rice in each. http://www.oryza.com/news/tenders/india-invites-tenders-buy-10000-tons-25-broken-white-rice http://www.oryza.com/news/tenders/india-invites-another-tender-purchase-10000-tons-rice Iraq issued a tender to buy about 30,000 tons of rice. http://www.oryza.com/news/tenders/iraq-invites-international-tenders-buy-30000-tons-rice http://www.oryza.com/news/tenders/iraq-extends-deadline-rice-purchasing-tender South Korea bought about 21,000 tons of rice in a tender. http://www.oryza.com/news/rice-news-asia-pacific/south-korea-buys-21000-tons-rice-china-tender Tags: rice news, Rice Prices
Vietnam Exports 4.57 Million Tons Rice January 1 to September 25, 2014 Sep 30, 2014
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Vietnam exported about 4.57 million tons of rice in January 1 - Sep 25, 2014, down about 12% from about 5.22 million tons of rice exported during Jan -Sep, 2013, according to data from the Vietnam Food Association (VFA). The average rice export price so far in this year stands at around $431 per ton (FOB), up about $1 per
ton from same time last year. During Sep 1-25, 2014, Vietnam exported about 327,344 tons of rice, down about 38% from about 526,561 tons rice exported in full month of September 2013, and down about 48% from about 627,089 tons rice exported in full month of August 2014. The average export price so far in September stands at about $424 per ton, down about 3% per ton from a year ago, and down about 2% per ton from a month ago.So far in this year, Vietnam has signed contracts to export about 6.4 million tons rice, compared with its annual projection of about 6.3 million tons, according to Reuters.
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Tags: Vietnam rice exports, Vietnam rice prices, rice news, Vietnam
A Thai-Malay Fusion Breakfast with Sticky Rice Sep 30, 2014
Glutinous rice, better known as sticky rice is enjoyed in different dishes and desserts throughout Asia. It’s fair to say that the Laotian can’t live without sticky rice. The Laotian, as well as those from the Laotian-speaking northeast of Thailand, Issan, traditionally eats glutinous rice as their main staple, and its influence has rubbed off on other regions of Thailand. At the southern tip of Thailand, bordering Malaysia, where most people are ethnically Malay and speak Malay as their mother tongue, nasi pulut (which means sticky rice in malay) has become a popular breakfast treat. The rice is prepared by leaving it to soak overnight and then it is steamed. To add a crispy texture, uncooked rice is fried and then added to the sticky rice. The Malays have added their own touch by eating the sticky rice with a dried beef chili paste called sambal daging. Adding fried chicken, some crispy fried onions, sweet chili sauce and even a green papaya salad (som tam) are other Thai cuisine influences which turn the breakfast into a feast. And of course, to really enjoy sticky rice; no cutlery is allowed; it’s strictly eating with your hands. Tags: Sticky rice, Thailand, breakfast, Glutinous rice, Adam John
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