20th August , 2014
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TOP Contents - Tailored for YOU Latest News Headlines… IMD Forecasts 2014-15 Rice Production Close to Normal as Monsoons Resume Bangladesh Develops New High-Zinc and High-Yielding Rice Variety India Government Directs States to Cap Levy Rice Procurement for 2014-15 at 25% to Ensure Fair Treatment to Farmers India Government Forecasts 2013-14 Rice Production at Record 106.54 Million Tons, Up 2% from Last Year Oryza Overnight Recap - Chicago Rough Rice Futures Retrace Overnight as Traders Take Profits Following Yesterday's Rally Oryza Afternoon Recap - Chicago Rough Rice Futures End with Mixed Results as Sep/Nov Spread Narrows Vietnam Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Oryza Global Rice Quotes Oryza Rice Currency Analysis for Today – Pakistan Rupee Falls 0.5% Oryza U.S. Rough Rice Recap - Buyers Stay on Sidelines as Offers Fall Vietnam Sets Up National Steering Committee for Rice Research Vietnam Exporters Face Dilemma over Philippines Contract as Domestic Rice Prices Surge
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IMD Forecasts 2014-15 Rice Production Close to Normal as Monsoons Resume 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
Aug 19, 2014 The Indian Meteorological Department (IMD) has forecast India's MY 2014-15 (October - September) rice production to be close to normal or an estimated 106 million tons in MY 2013-14 as rainfall has resumed in many rice-growing parts of India, according to local sources.The IMD forecast monsoons in June - September to be 87% of long period average, much below the normal 95%. Initial delay in rice sowing in many areas led to concerns over a drop in production in MY 2014-15. However, the Deputy Director General of Agricultural Met Department told local sources that the rice-sowing pattern has improved remarkably in many parts of Central India, East and North-east and Southern India.Data from the Agriculture Ministry also shows that the lag in this year's kharif (June - December) rice planting has reduced significantly from around 70% in the beginning of planting season in June. Planting for kharif rice crop, or main rice crop (June – December) in India has reached around 29.623 million hectares of rice area as of August 14, 2014, down about 1% from around 29.902 million hectares planted during the same time last year.Economists and bankers are looking forward for a reasonably good production of rice and other pulses as they directly impact inflation and interest rates in the country. The government of India has estimated India's milled rice production in MY 2013-14 at around 106.54 million tons, up about 1.2% from around 105.24 million tons produced in MY 2012-13.USDA estimates India MY 2014-15 milled rice production at around 103 million tons, down about 3% from an estimated 106.29 million tons in MY 2012-13. It estimates India's rice exports to decline to around 8.7 million tons in 2015 from an estimated 10 million tons in 2014. Tags: India rice production, India monsoons, Indian Meteorological Department (IMD)
Bangladesh Develops New High-Zinc and High-Yielding Rice Variety Aug 19, 2014
The Bangladesh Rice Research Institute (BRRI) researchers have developed a new rice variety, Brri dhan-64, which is enriched with higher zinc content and is capable of providing higher yields, according to local sources.Brri dhan-64 is the second high-zinc rice variety developed by the BRRI scientists. They developed the first high-zinc rice variety, Brri dhan-62, last year. The BRRI scientists told local sources that the newly developed Brri dhan-64 contains zinc level at 25 parts per million (ppm) and yields over 6 tons per hectare, while the earlier developed Brri dhan-62 contains around 19 to 20 ppm zinc and yields around 4.2 tons per hectare.
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Brri dhan-62 has been particularly developed for Aman season (May - December) and Brri dhan-64 is developed for Boro season (January - May). The National Seed Board (NSB) is likely to release the Brri dhan-64 later this week, according to sources at the Ministry of Agriculture.Both Brri dhan-64 and Brri dhan-62 are developed through application of biological fortification (bio fortification) and are capable of fighting stunted growth as well as diarrhoea and pneumonia-induced childhood deaths in children. Bio fortification is a process in which breeders crossbreed high-nutrient varieties with highyielding varieties to provide seeds with high yield and high nutritional value.So far, Brri dhan-62 seeds have been supplied to around 10,000 farmers during the ongoing Aman season, according to the BRRI researchers. Lately, the Bangladesh government has been promoting bio fortified crops to fight mal-nutrition an hidden hunger among children in the country.
Tags: Bangladesh rice varieties, Bangladesh rice production, Biofortified rice, Bangladesh Rice Research Institute (BRRI)
India Government Directs States to Cap Levy Rice Procurement for 201415 at 25% to Ensure Fair Treatment to Farmers Aug 19, 2014
The Indian government has directed all state governments to cap levy rice procurement from millers at 25% for the 2014-15 procurement season (October - September) to ensure requisite benefits to farmers, according to local sources.State governments usually procure levy rice from millers, who purchase paddy from farmers at minimum support price (MSP) to meet their public distribution needs. Percentage of levy rice procurement differs from state to state and varies between 30 - 75% of procurement in respective states.A Food Ministry official told local sources that the decision to cap levy rice is to ensure that farmers would receive the MSP declared by the government, optimize procurement operations and reduce the government’s food subsidy burden. The official also noted that the government is planning to abolish levy rice procurement completely from next year. The percentage has been reduced as the government cannot abolish it at once as states such as Andhra Pradesh, Uttar Pradesh, West Bengal and Uttarakhand do not have strong procurement operations and are dependent on levy rice mechanism to meet their PDS
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requirements.The Indian government targets to procure 30.05 million tons of rice during the 2014-15 Kharif Marketing Season (October 2014 - September 2015), down about 12% from last year's target of around 34.3 million tons
Tags: India rice procurement, India levy rice procurement, India minimum support price for rice
India Government Forecasts 2013-14 Rice Production at Record 106.54 Million Tons, Up 2% from Last Year Aug 19, 2014
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The government of India, in its fourth advance estimates for major crops, has estimated India's rice production for 201314 marketing year (October 2013 - September 2014) at a record 106.54 million tons, up about 2% from an estimated 104.4 million tons in 2012-13. According to government sources, India's total food grain production, which includes Kharif (July - December) and Rabi (November - March) crops, in 2013-14 is likely to reach around 264.77 million tons, up about 3% from last year's 257.13 million tons, and many crops are likely to achieve record production. The fourth advance estimates show that rice production from the kharif rice crop is estimated at around 91.69 million tons, down about 1% from an estimated 92.76 million tons last year; and rice production from the rabi crop is estimated at around 14.85 million tons, up about 3% from an estimated 11.64 million tons produced last year.
According to the Ministry of Agriculture data, India’s actual rice production in 2012-13 stood at around 105.24 million tons (92.37 million tons from kharif and 12.87 million tons from rabi), marginally down from around 105.31 million tons produced in 2011-12 (92.75 million tons from kharif and 12.56 million tons from rabi).Trade sources say the record output of rice in this marketing year could assure the nation’s rice exports are not banned during the next year. India's 2014-15 production was initially expected to be significantly low due to delayed monsoons. However, with the monsoons resuming in many parts of India, production is expected to be close to normal next year.
India emerged as the top rice exporter in 2012 and 2013 after the government lifted a four-year ban on non-basmati rice exports in 2011. India exported around 10.5 million tons in FY 2013-14, up about 3% from around 10.2 million tons exported in FY 2012-13, according to data from All India Rice Exporters Association (AIREA).USDA estimates India's milled rice production at 105 million tons in MY 2013-14 (October - September), marginally down from an estimated 105.24 million tons produced in MY 2012-13. It expects India to export 10 million tons of rice during 2014, down by about 8% from about 10.87 million tons exported in 2013. It further estimates India production to decline about 3% to around 103 million tons and its exports to decline about 15% to around 8.7 million tons in 2014-15.
Tags: India rice production, India kharif rice production, India rabi rice production, India rice exports, All India Rice Exporters Association (AIREA)
Oryza Overnight Recap - Chicago Rough Rice Futures Retrace Overnight as Traders Take Profits Following Yesterday's Rally Aug 19, 2014 Chicago rough rice futures for Sep delivery are seen 9.5 cents per cwt (about $2 per ton) lower at $13.050 per cwt (about $288 per ton) ahead of trading in Chicago. The other grains are seen lower this morning: soybeans are currently seen 0.5%
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lower, wheat is listed about 0.6% lower and corn is noted about 0.7% lower. U.S. stock-index futures furthered their advance on Tuesday after economic reports offered a benign view on inflation and cast a better-than-anticipated light on the housing market. Up 47 points ahead of the data, futures for the Dow Jones Industrial Average were up 63 points in the wake of the numbers, which had the consumer price index increasing 0.1% in July, in line with expectations and indicating that inflation remains muted even as the economy improves. Separately, home construction rose 15.7% last month from June. U.S. stock-index futures are currently noted as trading 0.3% higher, gold is currently trading about 0.1% lower, crude oil is seen trading about 0.2% lower, and the U.S. dollar is currently trading about 0.3% higher at 9:15am Chicago time. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Oryza Afternoon Recap - Chicago Rough Rice Futures End with Mixed Results as Sep/Nov Spread Narrows Aug 19, 2014 Chicago rough rice futures for Sep delivery settled 2.5 cents per cwt (about $1 per ton) lower at $13.120 per cwt (about $289 per ton). The other grains finished the day with mixed results grains looked reversed the directions they had taken yesterday; soybeans closed about 0.5% lower at $10.5275 per bushel; wheat finished about 0.7% higher at $5.4600 per bushel, and corn finished the day about 0.2% higher at $3.7225 per bushel. U.S. stocks climbed on Tuesday, with the Nasdaq Composite furthering gains that have it at a 14-year high, as economic reports offered a benign view on inflation and cast a better-than-anticipated light on the housing market. Already higher before the July data, stock-index futures furthered their advance after the government's consumer price index increased 0.1% in July, in line with expectations and indicating the cost of living remains muted even as the economy improves. Separately, the Commerce Department report beginning home construction rose 15.7% last month from June, while starts for volatile multi-family homes jumped 33%. After an 82-point jump, the Dow Jones Industrial Average was lately up 74.46 points, or 0.4%, at 16,913.20. The S&P 500 rose 8.55 points, or 0.4%, to 1,980.30, with utilities the best performing and telecommunications the sole sector of 10 in the red. The Nasdaq extended gains into a fifth session, up 13.62 points, or 0.3%, to 4,521.93. Gold is trading about 0.2% lower, crude oil is seen trading about 1.7% lower, and the U.S. dollar is seen trading about 0.4% higher at about 1:00pm Chicago time.Monday, there were 2,040 contracts traded, up from 1,159 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 85 contracts to 9,373. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
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Vietnam Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Aug 19, 2014
Vietnam rice sellers lowered their quotes for 25% broken rice and 100% broken rice by about $5 per ton and about $10 per ton respectively to around $400 - $410 per ton and around $335 - $345 per ton respectively today. Other Asia rice sellers kept their quotes mostly unchanged. 5% Broken Rice Thailand 5% rice is quoted at around $440 - $450 per ton, about $10 per ton discount to Vietnam 5% rice shown at around $450 - $460 per ton. India 5% rice is quoted at around $435 - $445 per ton, about $5 per ton discount to Pakistan 5% rice quoted at around $440 - $450 per ton. 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, down about $5 per ton from yesterday. India 25% rice is quoted at around $390 - $400 per ton, about $5 per ton discount to Pakistan 25% rice quoted at around $395 - $405 per ton. Parboiled Rice Thailand parboiled rice is quoted at around $445 - $455 per ton. India parboiled rice is quoted at around $425 $435 per ton, about $25 per ton discount to Pakistan parboiled rice quoted at around $450 - $460 per ton. 100% Broken Rice Thailand broken rice, A1 Super, was last quoted at around $310 - $320 per ton, about $25 per ton discount to Vietnam broken rice quoted at around $335 - $345 per ton, down about $10 per ton from yesterday. India broken sortexed rice is quoted at around $340 - $350 per ton, about $15 per ton premium on Pakistan broken sortexed rice quoted at around $325 - $335 per ton.
Oryza Global Rice Quotes August 19th, 2014 Long grain white rice - high quality Thailand 100% B grade 455-465 Vietnam 5% broken 450-460 ↔
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India 5% broken 435-445 Pakistan 5% broken 440-450 Cambodia 5% broken 465-475 U.S. 4% broken 535-545 Uruguay 5% broken 610-620 Argentina 5% broken 610-620
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Long grain white rice - low quality Thailand 25% broken NQ ↔ Vietnam 25% broken 400-410 ↓ Pakistan 25% broken 395-405 ↔ Cambodia 25% broken 450-460 India 25% broken 390-400 ↔ U.S. 15% broken 525-535 ↔
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Long grain parboiled rice Thailand parboiled 100% stxd 445-455 Pakistan parboiled 5% broken stxd 450-460 India parboiled 5% broken stxd 425-435 U.S. parboiled 4% broken 630-640 ↔ Brazil parboiled 5% broken 595-605 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 1055-1065 Vietnam Jasmine 590-600 ↔ 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 325-335 Cambodia A1 Super 360-370 ↔ India 100% Broken stxd 340-350 Egypt medium grain brokens NQ ↔ U.S. pet food 470-480 ↔ Brazil half grain NQ ↔ Medium grain milled U.S. Calrose 4% broken
1025-1035
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Egypt medium grain 6%
NQ
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All prices USD per ton, FOB vessel, oryza.com
Oryza Rice Currency Analysis for Today – Pakistan Rupee Falls 0.5% Aug 19, 2014
U.S. dollar index was stronger +0.36% from the open today, when it traded at 81.870 at the close. Euro was weaker -0.32% by the close, trading around 1.3321 by end of day, after trading between an intraday high of 1.3365 and low of 1.3313. Thai baht was -0.21% weaker, trading at 31.904 at the close of business. Indian rupee was +0.14% stronger at 60.6838. Brazilian real was stronger +0.33% at 2.2501 reais per dollar. Pakistan rupee was -0.47% weaker at 100.3903. Vietnamese dong was unchanged at 21198. Mexican peso was weaker -0.03% today, when it traded at 13.0507 pesos per dollar by the close of business. Chinese yuan was +0.03% stronger at 6.1417. Argentine peso was weaker -0.05% at 8.2860 pesos per dollar. Tags: foreign exchange rates, Rice currencies, Global rice trade, rice news
Oryza U.S. Rough Rice Recap - Buyers Stay on Sidelines as Offers Fall Aug 19, 2014
The U.S. cash market was slightly softer today after sellers came off their price ideas attempting to get some business on the books although most buyers remain on the sidelines expecting prices to fall even further.
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As of today, offers we seen decreased slightly to around $13.00-$13.33 per cwt fob farm (about $287-$294 per ton) while bids were unchanged near $12.85-$13.25 per cwt (about $282-$292 per ton) for September-October delivery; however, despite the slight decrease in offers no trades were reported.
Vietnam Sets Up National Steering Committee for Rice Research Aug 19, 2014
Vietnam has set up a National Steering Committee (NSC) for National Rice Research Program until 2020, according to local sources.The NSC will design a rice research program to develop high quality and high-yielding rice varieties in Vietnam. It will assist the Ministry of Agriculture and Rural Development (MARD) to allocate funds to the research program as well as coordinate with various relevant departments to achieve its goals through 2020. It will also inspect, evaluate and report the results of the research program every year until 2020.The Steering Committee will work closely with the Department of Science, Technology and Environment; Vietnam Academy of Agricultural Sciences; Field Crops Research Institute; Department of Crops Production; Plant Protection Department; Department of Co-operatives and Rural Development; Vietnam Northern Food Corporation and Vietnam Southern Food Corporation. It is headed by the Deputy Minister of Agriculture and Rural Development. Tags: Vietnam rice research, Vietnam rice production, Vietnam rice exports, Ministry of Agriculture and Rural Development (MARD)
Vietnam Exporters Face Dilemma over Philippines Contract as Domestic Rice Prices Surge Aug 19, 2014
Vietnam exporters are facing a dilemma over participating in the Philippines tender for 500,000 tons of 25% broken rice later this month because of surging prices and scarcity of rice in the domestic market, according to local sources.Vietnam's state-owned rice exporters Northern Food Corporation (Vinafood 1) and Southern Food Corporation (Vinafood 2), which have also confirmed their participation in the tender to the Philippines National Food Authority (NFA), told local sources that they are concerned of making losses even if they bid at ceiling prices as they need to purchase rice at much higher prices in the local market.
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Based on the budget allotted by the NFA for the 500,000 ton import deal, exporters are expecting the ceiling price at around $470 per ton. They say even if they bid at ceiling price, they may make losses to the extent of $10 per ton due to shortages in the market.Increased demand from Malaysia, Indonesia and the Philippines has led to exporters buying more rice from the domestic market to fulfil their export contracts. According to local sources, Vietnam rice exporters have so far signed contracts for around 5.3 million tons of rice in 2014 and have delivered 3.79 million tons of rice as of August 14. They are planning to sign contracts for another one million tons of rice to meet the country's export target of 6.2 million tons. This means they will have to buy another 2.5 million tons of rice from local market to meet their annual export target.However, experts say current market prices are not too high and exporters can make profit even at these prices. Currently, 5% broken rice in the Mekong River Delta (MRD) stands at around VND 9.2-9.3 million per ton, or $438-443 per ton, which is about $27 - $32 per ton lesser than the expected ceiling price of around $470 per ton for the Philippines tender. That means exporters can be benefited to that extent. They say prices could be even lower as the Philippines is seeking 25% broken rice.Yet, exporters have their own fears as prices are continuing to head northwards in many provinces since April this year though they declined for few weeks in between. Tags: Vietnam rice exports, Vietnam rice prices, Vietnam rice exporters, Vietnam Food Association (VFA)
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