20th november ,2015 daily exclusive oryza rice e newsletter by riceplus magazine

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November 20,2015 Vol 5,Issue XI

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All Contents are published with written permission of ORYZA.com with thanks

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Indonesia Plans to Import 500,000 Tons of Rice from Pakistan Nov 19, 2015

The government of Pakistan is planning to import around 500,000 tons of rice from Pakistan to increase the buffer stocks and protect prices from increasing, according to local sources.

The country's Trade Minister reportedly told the Asia-Pacific Economic Cooperation (APEC) forum that the government is planning to sign a Memorandum of Understanding (MoU) with the government of Pakistan in this regard. He also noted that after reaching an agreement with Pakistan, a Bulog team would verify Pakistan's rice supply. The Minister stated that the rice would enter Indonesia in early 2016.

Though the government of Indonesia has been stating that imports of one million tons from Vietnam are secured and plans for 500,000 tons from Thailand are in the pipeline, it is concerned that a huge volume of rice imports, of around 1.5 million tons, by the Philippines from Vietnam and Thailand are understood to have become a cause of concern. The government is reportedly concerned if two exporting nations would be able to supply rice i stipulated time. Therefore, it is understood to be securing about 500,000 tons from Pakistan.

The Vice-President told the APEC forum on Wednesday that rice imports are inevitable for Indonesia as the domestic production is severely impacted by the drought-inducing El Nino weather phenomenon. He however, expressed hope that the nation may not require to import rice in 2016, if the weather conditions improve.

The government rice stocks reportedly stood between 1.3 and 1.4 million tons as of October 25, 2015, enough to meet only half of the country's monthly demand of around 2.5 million tons.

Oryza CBOT Rough Rice Futures Recap Chicago Rough Rice Futures Go Nowhere as Supportive Export Sales Report Balanced by Tepid Demand Forecast Nov 20, 2015

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Chicago rough rice futures for Jan delivery settled 0.5 cents per cwt (about $0.11 per ton) higher at $11.845 per cwt (about $261 per ton). The other grains finished the day higher, supported by strong export sales; Soybeans closed about 0.3% higher at $8.6000 per bushel; wheat finished about 1.5% higher at $4.9225 per bushel, and corn finished the day about 0.5% higher at $3.7025 per bushel.

U.S. stocks traded in a range Thursday, following solid gains Wednesday, as investors eyed some corporate news and sought further indications of support for a December rate hike from data and Fed speakers. The major averages fluctuated between slight gains and losses, but remained on track for gains of more than 2.5% for the week. Federal Reserve speakers Thursday continued to emphasize a gradual pace of tightening. Atlanta Fed President Dennis Lockhart said he is "comfortable with moving off zero soon. " On the data front, initial jobless claims came in at 271,000. The Philadelphia Fed Manufacturing survey's diffusion index for current activity came in for November at 1.9, its first positive reading in three months. U.S. October leading indicators rose 0.6%, slightly more than expected. Overnight, the Bank of Japan kept monetary policy unchanged. In early afternoon trade, the Dow Jones industrial average traded down up 13 points, or 0.08%, to 17,751. The S&P 500 traded down less than a point, or 0.01%, at 2,083, with information technology leading seven sectors higher and health care the greatest laggard. The Nasdaq traded up 8 points, or 0.17%, at 5,083. Gold is seen trading about 1% higher, crude oil is seen trading about 1.2% lower, and the U.S. dollar is seen trading about 0.7% lower at about 1:00pm Chicago time.

Wednesday, there were 314 contracts traded, down from 829 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday decreased by 16 contracts to 12,419.

Thailand Plans to Sell 37,413 Tons of Rotten Rice from Stockpiles on December 1, 2015 Nov 19, 2015

Thailand is planning to sell around 37,413 tons of rotten rice from stockpiles to industrial users on December 1, 2015, Bloomberg quoted the Department of Foreign Trade (DFT).

Interested buyers can submit the relevant documents on November 30, 2015 for qualification checks. Qualified buyers can propose prices on December 1, 2015, according to the DFT. The government has been planning to begin sale of about 2 million tons of rotten rice from stockpiles from the end of November 2015. It reportedly decided to begin the auctions in lots of between 1,000 and 6,000 tons.

Thailand holds about 13 million tons of rice stocks, of which about 6 million tons are "belowstandard or rotten" and are judged unfit for human consumption, according to a Commerce

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Ministry statement. The Ministry decided to sell these stocks for industrial uses as ethanol production.

The government of Thailand sold around 4.6 million tons of stockpiled rice raising around 49 billion baht (around $1.4 billion) in the ten auctions conducted since it took over in May 2014.

The Gambia Defers Plans to Ban Rice Imports to September 2016 Nov 19, 2015

The Gambia government has deferred it plans to ban rice imports to September 2016, Bloomberg quoted the local sources.

The government initially planned to ban rice imports from the end of 2015. However, the President had last year hinted that the government would consider retraction of the import ban based on the production levels in 2014 and 2015. He noted that the import ban would hold good only if the country produced sufficient rice to meet local demand by the end of 2015.

The country imported rice worth 1.9 billion dalasi (around $47 million) in 2014, according to the Minister of Trade and Industry.

The President had declared in June 2013 that he aims to make the country self-sufficient in rice production and reduce its dependency on imports. His stance invited several criticisms as The Gambia produces only 20% of its rice consumption needs and it would need to increase its rice production by five-fold or more to reach the self-sufficiency target. Some have also warned that any ban on rice imports without sufficient production may result in rice smuggling as in the case of Nigeria.

USDA estimates The Gambia to produce around 35,000 tons of rice and import around 155,000 tons in MY 2015-16 (October - September) to meet consumption needs of around 185,000 tons.

Oryza U.S. Rough Rice Recap - Market Seen Unchanged after No Iraqi Tender News Nov 20, 2015

The U.S. cash market was unchanged today with little to no trading to report following the absence of news regarding the Iraqi Grain Board’s tender award announcement.

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Analysts note that it is not is not uncommon for the Iraqi Grain Board to request an extension for offers to remain good until sometime next week although usually this doesn’t bode well for the U.S. In the meantime, cumulative net export sales for the week that ended on November 12th, totaled 43,600 tons, an increase of 22% from the previous week but 41% lower than the prior 4-week average.

Increases were reported for the following destinations including: 28,300 ton to Haiti, 6,600 tons to Guatemala including 6,000 tons switched from unknown destinations, 2,700 tons to Mexico, 2,400 tons to Canada, and 1,600 tons to Jordan, while a reductions of 1,000 tons and 600 tons were reported for unknown destinations and Iran, respectively.

U.S. rice exporters shipped 110,200 tons, which was a considerable higher than last week and the prior 4-week average. Increases were reported for the following destinations including: 29,400 tons to Iran, 22,500 tons to Honduras, 21,300 tons to Haiti, 10,400 tons to Mexico, and 6,900 tons to Colombia.

Global Rice Quotes November 19th, 2015

Long grain white rice - high quality Thailand 100% B grade 360-370

↔

Vietnam 5% broken

370-380

↔

India 5% broken

345-355

↔

Pakistan 5% broken

315-325

↔

Myanmar 5% broken

405-415

↔

Cambodia 5% broken

415-425

↔

U.S. 4% broken

490-510

↔

Uruguay 5% broken

535-545

↔

Argentina 5% broken

530-540

↔

Long grain white rice - low quality

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Thailand 25% broken

335-345

↓

Vietnam 25% broken

355-365

↔

Pakistan 25% broken

290-300

↔

Cambodia 25% broken 400-410

↔

India 25% broken

325-335

↔

U.S. 15% broken

500-510

↔

Long grain parboiled rice Thailand parboiled 100% stxd

350-360

Pakistan parboiled 5% broken stxd

↔

India parboiled 5% broken stxd 340-350

↑

U.S. parboiled 4% broken

590-610

↔

Brazil parboiled 5% broken

545-555

↔

Uruguay parboiled 5% broken NQ

↔

405-415

↔

Long grain fragrant rice Thailand Hommali 92% Vietnam Jasmine

705-715 450-460

↔

India basmati 2% broken

NQ

↔

Pakistan basmati 2% broken

NQ

↔

Cambodia Phka Mails 830-840

↓

↔

Brokens 325-335

↔

Vietnam 100% broken 330-340

↔

Thailand A1 Super

Pakistan 100% broken stxd Cambodia A1 Super India 100% broken stxd

280-290

355-365

↔

↔

285-295

↔

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Egypt medium grain brokens

NQ

U.S. pet food

↔

330-340

Brazil half grain

NQ

↔

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

Wholesale Basmati Rice Prices in India Increase on Higher Demand and Lower Supplies Nov 19, 2015

Wholesale basmati rice prices in India's capital increased by about Rs.300 per quintal (around $45 per ton) today due to increased demand from stockists but lower supplies, according to the Press Trust of India (PTI).

Prices of common basmati rice increased to around Rs.5,000-Rs.5,400 per quintal (around $756 $816 per ton) from around Rs.5,000-5,100 per quintal (around $756 - $771 per ton) yesterday.

Prices of Pusa 1121 increased to around Rs.4,200-5,000 per quintal (around $635 - $756 per ton) from around Rs.4,100-4,800 per quintal (around $620 - $725 per ton) yesterday.

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Farmers' reluctance to sell basmati paddy at low prices to millers is understood to be resulting in fewer supplies of milled rice in the markets.

Thailand, India Rice Sellers Alter Some of Their Quotes Today; Other Asian Quotes Remain Unchanged Nov 19, 2015

Thailand rice sellers lowered their quotes for 25% broken rice by about $10 per ton to around $335 - $345 per ton and lowered their quotes for Hom Mali rice by about $20 per ton to around $705 - $715 per ton today. India rice sellers increased their quotes for parboiled rice by about $5 per ton to around $340 - $350 per ton. Other rice quotes remain unchanged today.

5% Broken Rice Thailand 5% rice is indicated at around $350 - $360 per ton about $20 per ton discount on Vietnam 5% rice shown at around $370 - $380 per ton. India 5% rice is indicated at around $345 - $355 per ton, about $30 per ton premium on Pakistan 5% rice shown at around $315 - $325 per ton.

25% Broken Rice Thailand 25% rice is indicated at around $335 - $345 per ton, about $20 per ton discount on Vietnam 25% rice shown at around $355- $365 per ton. India 25% rice is indicated at around $325 - $335 per ton, about $35 per ton premium on Pakistan 25% rice shown at around $290 $300 per ton.

Parboiled Rice Thailand parboiled rice is indicated at around $350 - $360 per ton. India parboiled rice is indicated at around $340 - $350 per ton, about $65 per ton discount to Pakistan parboiled rice last shown at around $405 - $415 per ton.

100% Broken Rice Thailand broken rice, A1 Super is indicated at around $325 - $335 per ton, about $5 per ton discount to Vietnam 100% broken rice shown at around $330 - $340 per ton. India's 100% broken rice is shown at around $285 - $295 per ton, about $5 per ton premium on Pakistan broken sortexed rice shown at around $280 - $290 per ton.

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