22nd October, 2014
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TOP Contents - Tailored for YOU Latest News Headlines…
Bangladesh Farmers Unhappy with Government Cost Fixing Policy Brazil Paddy Rice Index Declines Slightly from Last Week Indonesian New President Aims at Self-Sufficiency in Rice and Other Food Staples in Four Years Italian Ag Minister Tries to Reassure Rice Farmers amid EU Policy Framework Restrictions Oryza Afternoon Recap – Chicago Rough Rice Futures Rebound as Technicals and Outside Markets Provide Support Global Rice Quotes India's Saline Tolerant Rice Variety 'Korgutt' Gets Unique Germplasm Status Oryza U.S. Rough Rice Recap – Bids Fall as Sellers Look to Move Rice Quickly Oryza Overnight Recap - Chicago Rough Rice Futures Remain Little Changed as Traders Eye nearby Support at $12.500 per cwt Rice as a Cash Crop? Philippines Third Quarter Paddy Production Estimated at 3.01 Million Tons, Down 10.5% from Last Year Thailand to Sell 207,899 Tons of Rice in Auction Next Week Pakistan Exports 221,715 Tons of Rice in September 2014, Up 20% m/m and Down 3% y/y Vietnam Rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged
NEWS DETAILS:
Bangladesh Farmers Unhappy with Government Cost Fixing Policy Oct 21, 2014
Bangladesh rice farmers have slammed the government for favouring rice millers while fixing production costs for un-husked and husked rice for this year's Aman rice crop (April - December), according to local sources.The Bangladesh government has fixed production costs for un-husked rice (paddy) during this year's Aman crop season at around Tk 18 per kilogram (around $228 per ton), up about 6% from around Tk 17.02 per kilogram
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(around $216 per ton) considering increased costs of tilling, organic fertilizers, zinc, irrigation as well as labor costs. While it fixed the production costs for husked rice (milled rice) at around Tk 28 per kilogram (around $355 per ton), up about 10% from around Tk 25.42 per kilogram (around $322 per ton).Officials from the Ministry of Agriculture were quoted as saying that they will shortly fix the government paddy and rice procurement prices as well.As the procurement costs are based on estimated production costs, farmers are unhappy with the production costs estimated for paddy. They say the estimated costs are too low and the government has been favorable to millers in this sense. The Director of a farmers' group said the costs fixed by the government would not be beneficial to farmers in any manner. He noted that the government's policy would help millers to procure un-husked rice from farmers at lower prices. On the other hand farmers may have to buy husked rice from millers at higher prices. He added the rice farmers would lose out twice, once while selling un-husked rice and second while buying husked rice. However, the Agriculture Ministry officials noted that they fixed the costs based on the inputs provided by the Department of Agriculture Marketing, Department of Agricultural Extension and Bangladesh Rice Research Institute (BRRI).According to Bangladesh's Directorate General of Food (DGF), the government is planning to procure a total of 1.5 million tons of rice locally during FY 2014-15 (July - June).USDA estimates Bangladesh’s MY 2014-15 (July 2014 – June 2015) milled rice production to slightly increase to about 34.6 million tons from an estimated 34.39 million tons in MY 2013-14. It estimates Bangladesh to import 678,000 tons of rice in 2014 and around 500,000 tons of rice in 2015. Tags: Bangladesh rice production costs, Bangladesh rice procurement, Bangladesh rice production
Brazil Paddy Rice Index Declines Slightly from Last Week Oct 21, 2014
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The Brazilian paddy rice index maintained by CEPEA reached around 36.7 real per 50 kilograms as of October 20, 2014, down about 0.05% from around 36.72 real per 50 kilograms recorded on October 13, 2014.In terms of USD per ton, the index reached around $299 per ton on October 20, 2014, down about 3% from around $307 per ton recorded on October 13, 2014. Tags: Brazil paddy rice index, Brazil paddy rice index cepea
Indonesian New President Aims at Self-Sufficiency in Rice and Other Food Staples in Four Years Oct 21, 2014
Indonesia's new President, who took over on Monday, is aiming at achieving self-sufficiency in basic food items such as rice, corn and sugar with the next four years, according to Reuters.He called on all the farmers to work hard to increase the production of the country's agricultural products and aim at reaching self-sufficiency
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in basic food staples such as rice, sugar and corn with the next three to four years. "This is not an easy target but I'm confident with hard work we can achieve our proclaimed target in three to four years," he said in a televised teleconference with farmers, doctors, teachers and students on Monday.Though the outgoing President had introduced self-sufficiency targets for several food items in 2009 following food price hikes, most of them have been left unfulfilled due to corruption and other scandals at various levels of value chain.The Central Statistics Agency (BPS) has estimated Indonesia's paddy rice production in 2014 to decline to around 69.8 million tons (around 44.3 million tons, basis milled), down about 2% from an estimated 71.28 million tons (around 45.3 million tons, basis milled) in the previous year. The decline in production is mainly due to an expected decline in rice acreage by 26,530 hectares compared to last year. USDA estimates Indonesia to produce around 36 million tons of rice, basis milled, and import around 1.4 million tons of rice in MY 2013-14 (January 2014 - December 2014), more than double an estimated 650,000 tons imported in 2013. Consumption in 2014 is expected to increase by 1% to around 38.65 million tons from 38.13 million tons in 2013. Tags: Indonesia rice production, Indonesia self-sufficiency in rice
Italian Ag Minister Tries to Reassure Rice Farmers amid EU Policy Framework Restrictions Oct 21, 2014
"Our action for supporting [the] Italian rice growing sector is based on several different points,� reiterated the Italian Agriculture Minister Maurizio Martina this week as he met with the Italian rice growing sector in Novara. The meeting was to discuss the future of Italy’s rice sector and the sector’s request for a safeguard clause by the EU, in order to stop zero duty rice imports from Less Developed Countries (LDCs) - particularly Cambodia - under the Everything But Arms (EBA) agreement. Farmers asked the Italian Ag Minister for clear answers, and he declared that the strategy for sustaining domestic production needs improvement following a negative reply by the European Commission to an earlier request for trade protection. But, not giving up on the idea, he said "this will be a complicated struggle, and we will face it."
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As for Italy, Martina spoke about the request for EU to enforce a more detailed labelling system on rice packaging, so that each consumer can easily trace the origin of the box; in a country such as Italy where food coming from national production is highly appreciated, this could increase consumption of domestic rice. The average national rice consumption rate is still firm at 5 kgs per capita. However, it’s not certain if this would help Italy in its EU export markets. The Italian Ag Minister also mentioned new financial measures presented some days ago by the Government; which would not only be available for the rice growing sector, but to all Italian agriculture. Tags: italian agriculture minister, italian rice production, Everything But Arms (EBA) agreement, Less Developed Countries (LDCs)
Oryza Afternoon Recap – Chicago Rough Rice Futures Rebound as Technicals and Outside Markets Provide Support Oct 21, 2014
Chicago rough rice futures for Nov delivery settled 5.5 cents per cwt (about $1 per ton) higher at $12.555 per cwt (about $277 per ton). Rough rice futures found late session buying interest which was enough to push prices into the black for the day and lift the market to fresh session highs. Although the bears succeeded in driving prices below nearby technical support, noted at $12.500 per cwt (about $276 per ton) on an intraday basis, they were unable to maintain prices at this level and they quickly recovered. Today’s action is seen as a confirmation of this level as continued nearby technical and psychological support and provides a bullish forecast for tomorrows trade direction. The other grains rallied today, led by sharp gains made by soy products; Soybeans closed about 2.1% higher at $9.6425 per bushel; wheat finished about 1.1% higher at $5.1925 per bushel, and corn finished the day about 2.2% higher at $3.5600 per bushel.U.S. stocks surged on Tuesday, with the S&P 500 and the Nasdaq Composite extending gains into a fourth day, as investors embraced earnings from corporations. Benchmark indexes held and then added gains after a report had sales of U.S. existing homes in September increasing to a one-year high. The Dow Jones Industrial Average was lately up 182.48 points, or 1.1%, to 16,582.15. Pulling above its 200-day moving average of 1,906.89, the S&P 500 advanced 30.63 points, or 1.6%, to 1,934.64, with energy the best performing and consumer staples the weakest of its 10 main industry groups. The
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Nasdaq jumped 82.33 points, or 1.9%, to 4,398.40. Gold is trading about 0.6% higher, crude oil is seen trading about 0.2% lower, and the U.S. dollar is seen trading about 0.3% higher at about 1:00pm Chicago time. Monday, there were 1,756 contracts traded, down from 2,597 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 272 contracts to 10,730. Tags: U.S. rice prices, chicago rough rice futures, Rice futures
Global Rice Quotes October 21st, 2014 Long grain white rice - high quality Thailand 100% B grade 435-445 Vietnam 5% broken 435-445 ↑ India 5% broken 415-425 ↔ Pakistan 5% broken 395-405 ↔ Cambodia 5% broken 465-475 ↔ U.S. 4% broken 515-525 ↔ Uruguay 5% broken 595-605 ↔ Argentina 5% broken 595-605 ↔ Long grain white rice - low quality Thailand 25% broken NQ ↔ Vietnam 25% broken 400-410 ↑ Pakistan 25% broken 345-355 ↔ Cambodia 25% broken 450-460 India 25% broken 370-380 ↔ U.S. 15% broken 510-520 ↔
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Long grain parboiled rice Thailand parboiled 100% stxd 420-430 Pakistan parboiled 5% broken stxd 425-435 India parboiled 5% broken stxd 405-415 U.S. parboiled 4% broken 580-590 ↔ Brazil parboiled 5% broken 595-605 ↔ Uruguay parboiled 5% broken NQ ↔
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Long grain fragrant rice
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Thailand Hommali 92% 925-935 Vietnam Jasmine 575-585 ↔ India basmati 2% broken NQ ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 880-890 Brokens Thailand A1 Super 340-350 ↔ Vietnam 100% broken 330-340 Pakistan 100% broken stxd 320-330 Cambodia A1 Super 360-370 ↔ India 100% Broken stxd 320-330 Egypt medium grain brokens NQ ↔ U.S. pet food 445-455 ↔ Brazil half grain NQ ↔
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All prices USD per ton, FOB vessel, oryza.com
India's Saline Tolerant Rice Variety 'Korgutt' Gets Unique Germplasm Status Oct 21, 2014
Red kernel rice variety 'korgutt' from the Indian state of Goa has been recognized as a unique germplasm for its tolerance to salinity stress by the National Bureau of Plant Genetic Resources (NBPGR), according to local sources.This is the first rice variety from Goa to get national recognition and has been added to the unique land races such as submergence-tolerant, highyielding and short duration rice varieties from other parts of India.The Goa branch of the Indian Council of Agriculture Research (ICAR) had applied for registration of 'korgutt' rice variety with the NBPGR after four years of intensive research in the field. Unique salinity tolerance properties of 'korgutt' rice was first identified by a ICAR scientist who evaluated it under natural coastal salinity conditions at Chorao island in a farmer's field for four years. The research proved that 'korgutt' was highly adaptable to very high saline conditions in coastal areas. The rice variety was also tested under artificial saline conditions at the Central Rice Research Institute at Cuttack.
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The research proved that the 'korgutt' rice variety is 100% tolerant to salinity and can withstand salinity up to 12dS/m (deciSiemens per meter) at seedling stage, according to the Director of ICAR, Goa. He noted that the rice variety is currently used by few farmers in Goa and its national recognition will help to popularize it across the country. He added that seeds of 'korgutt' will be made available to farmers shortly especially those in lowlying and coastal saline soils. Goa contributes to a very little percentage of overall paddy rice production in India. In 2011-12, a total of 47,237 hectares of land was allotted to paddy and the total paddy production during the year stood at around 182,945 tons (with kharif crop accounting for around 118,145 tons and rabi crop accounting for around 64,800 tons), according to the data from Ministry of Agriculture, Goa. Paddy rice production in the state increased by about 6% in 2011-12 from around 172,489 tons produced in 2010-11.Other saline-tolerant rice varieties such as Assgo and Muno as well as hybrid rice varieties are mostly grown in Goa.
Tags: ICAR, saline-tolerant rice variety, unique germplasm, India rice variety
Oryza U.S. Rough Rice Recap – Bids Fall as Sellers Look to Move Rice Quickly Oct 21, 2014
The U.S. cash market was silent today as bids continue to fall while sellers who are looking to move rice quickly are disappointed in the numbers they are seeing. As of today, offers could still be found around $12.50-$12.75 per cwt fob farm (about $276-$281 per ton) while bids declined to around $12.25-$12.55 per cwt (about $270-$277 per ton) for October-November however there were no trades to report. Tags: U.S. rice prices, U.S. paddy rice prices, Rice Prices
Oryza Overnight Recap - Chicago Rough Rice Futures Remain Little Changed as Traders Eye nearby Support at $12.500 per cwt 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
Oct 21, 2014
Chicago rough rice futures for Nov delivery are currently noted 1.5 cent per cwt (about $0.33 per ton) higher at $12.515 per cwt (about $276 per ton) during early morning floor trading in Chicago. The other grains are seen trading higher this morning: soybeans are currently seen about 0.8% higher, wheat is listed about 0.8% higher and corn is noted about 0.7% Higher. U.S. stocks rose on Tuesday, with the S&P 500 and the Nasdaq Composite extending gains into a fourth day, as investors embraced earnings from corporations including Apple, Texas Instruments and United Technologies. The European Central Bank is looking to purchase corporate bonds on the secondary markets, Reuters reported. Data on Tuesday showed that China's gross domestic product (GDP) grew 7.3% year-on-year in the JulySeptember period, the slowest pace in nearly six years. Still, the figure was above forecasts for a 7.2% rise. Other Chinese data showed September industrial output increasing 8% year-on-year, beating estimates, but retail sales and fixed-asset investment both missed expectations. The Dow Jones Industrial Average climbed 60.70 points, or 0.4%, to 16,460.37. The S&P 500 advanced 14.58 points, or 0.8%, to 1,918.59, with energy the best performing and consumer staples the weakest of its 10 main industry groups. The Nasdaq jumped 46.73 points, or 1.1%, to 4,362.80. Gold is currently trading about 0.6% higher, crude oil is seen trading about 1.2% higher, and the U.S. dollar is currently trading about 0.3% higher at 9:45am Chicago time. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Rice as a Cash Crop? Oct 21, 2014
For rice farmers in the exporting nations like Thailand, the tripling of world rice prices in 2008 saw rice transform from a food crop to a cash crop. There were reports of bus drivers in Thailand giving up their jobs to become tractor drivers on paddy farms, and orchard farmers ripping up their fruit trees and replacing them with paddy. This rice bonanza was rather short lived however as world prices peaked and began to come back down. Rice is usually associated as a staple food for many of the world’s poorest people so rice being seen as a cash crop may sound rather strange. However, throughout history niche markets for rice have made rice a profitable crop. In the US, Arkansas is seen as the country’s rice belt, but during the colonial era in the 17th and 18th centuries South Carolina was the rice bowl of the British colony. Huge fortunes were made by exporting rice to northern
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European countries like Holland and the Scandinavian countries where the exotic staple crop was in high demand. The Middle Eastern rice markets have long been a lucrative source of trade for Pakistani and Indian basmati rice farmers. The trade policy of these countries even shows how rice varieties are viewed differently. For instance, when India banned rice exports in 2007 in order to stop domestic rice prices from rising, it still allowed basmati rice trade to continue. Jasmine rice varieties from Southeast Asia is also a profitable cash crop for rice farmers as some jasmine varieties fetch world prices which are almost as high as basmati prices. East Africa is in the midst of its own rice bonanza. Rice has traditionally been seen as a luxury food in this part of the world where maize and cassava are the main food crops. However, with the introduction of new rice varieties suitable for growing in East African climatic zones, along with a growing demand for rice in the cities, rice is being taken up by more and more local farmers precisely because of its high return compared to other crops. Adam John Tags: cash crop, Rice Production, Rice Prices, Adam John
Philippines Third Quarter Paddy Production Estimated at 3.01 Million Tons, Down 10.5% from Last Year Oct 21, 2014
The Philippines third quarter paddy rice production is estimated at around 3.02 million tons, down about 10.5% from around 3.36 million tons last year, and about 0.5% higher than the earlier forecast of 2.99 million tons, according to a report by the Philippines Bureau of Statistics (PBS). The decline is mainly due to the damage caused by the Glenda typhoon to many hectares of paddy fields. The PBS estimates the paddy harvest area to slightly decline to around 774,120 hectares from last year's 774,670 hectares. But estimates yields to increase to around 3.89 tons per hectare from last year's 3.86 tons per
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hectare. The PBS attributes the increase in yields to sufficient water supply, lesser incidences of pests and diseases and more fertilizer usage. The report shows that around 237,000 hectares of the standing paddy crop has been harvested. Of the 2.22 million hectares standing paddy crop, 27.9% were at vegetative stage, 53.4%, at reproductive stage and 18.7% at maturing stage as of September 1, 2014. The Philippines Depart of Agriculture (DA) has estimated the country's 2014 paddy rice production at around 19.65 million tons. The country produced around 8.379 million tons of paddy rice in January - June 2014, up about 5% from around 7.997 million tons produced during the same period last year. The UN's Food and Agriculture Organization (FAO) has forecasted Philippines 2014 paddy rice production at around 18.6 million tons, down about 1% from around 18.8 million tons in 2013 due to a reduction of about 2% in planted area following lesser than expected rains between April and May. USDA estimates Philippines MY 2014-15 (July - June) paddy rice production at around 19.365 million tons (around 12.2 million tons, basis milled), up about 3% from around 18.822 million tons (around 11.8 million tons, basis milled) produced in the previous year. It estimates Philippines 2014-15 milled rice exports at around 1.6 million tons, up about 10% from last year. Tags: Philippines paddy rice production, Philippines Bureau of Statistics (PBS)
Thailand to Sell 207,899 Tons of Rice in Auction Next Week Oct 21, 2014
Thailand government will sell around 207,899 tons of rice from its stockpiles on October 28, according to Reuters.Sources at the Commerce Ministry told reporters that the auction would take place at the Foreign Trade Department Office after the announcement of eligible bidders.Last week, Commerce Ministry sources indicated that the government would put up about 80,000 tons of 5% white rice and about 120,000 tons of broken rice sale in the upcoming auction.
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The Ministry sold around 140,000 tons of rice in the previous two auctions raising around 1.7 billion baht (around $52.3 million). Thailand still has around 18 million tons of rice stocks and the military government is keen on selling them over the next three years various channels such as general auctions, government-togovernment sales, direct sales and the Agricultural Futures Exchange of Thailand (AFET). Tags: Thai rice auctions, Thai rice stocks, Thai rice sale
Pakistan Exports 221,715 Tons of Rice in September 2014, Up 20% m/m and Down 3% y/y Oct 21, 2014
Pakistan exported around 221,715 tons of rice in September 2014, up about 20% from around 184,311 tons exported in August 2014, according to provisional data from the Pakistan Bureau of Statistics (PBS). In terms
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of value, Pakistan's rice export earnings increased to around $132.9 million in September 2014, up about 27% from around $104.5 million earned in August 2014. However, Pakistan’s exports in September 2014 declined both in terms of tonnage and value from their year ago levels. In terms of tonnage, Pakistan's exports this month declined by about 3% from around 228,802 tons exported in September 2013. In terms of value, they are down about 6% from around $140.72 million in September 2013. Pakistan exported around 54,663 tons of basmati rice in September 2014, up about 29% from around 42,240 tons exported in August 2014 and up about 10% from around 49,674 tons in September 2013. In terms of value, Pakistan's basmati rice exports earned $53 million in September 2014, up about 45% from around $36.67 million earned in August 2014, and up about 3% from around $51.22 million earned in September 2013. Pakistan exported around 167,052 tons of non-basmati rice in September 2014, up about 18% from around 142,071 tons exported in August 2014 and down about 7% from around 179,128 tons in September 2013. In terms of value, Pakistan's non-basmati rice exports earned $79.92 million in September 2014, up about 18% from around $67.87 million earned in August 2014, and down about 11% from around $89.51 million earned in September 2013. Pakistan has exported around 602,759 tons of rice, including basmati and non-basmati, in the first three months of FY 2014-15 (July 2014 - June 2015), down about 5% from around 635,637 tons exported during the same period in FY 2013-14. In terms of value, Pakistan's exports earned around $362.8 million in July - September 2014, down about 10% from around $404.6 million earned during the same period in 2013. Tags: Pakistan rice exports, Pakistan Bureau of Statistics (PBS)
Vietnam Rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Oct 21, 2014
Vietnam rice sellers increased their quotes for 5% broken rice 25% broken rice by about $5 per ton each to around $435 - $445 per ton and $400 - $410 per ton respectively today. Other Asia rice sellers kept their quotes mostly unchanged today. 5% Broken Rice
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Thailand 5% rice is quoted at around $420 - $430 per ton, about $15 per ton discount to Vietnam 5% rice shown at around $435 - $445 per ton, up about $5 per ton from yesterday. India 5% rice is quoted at around $415 $425 per ton, about $20 per ton premium on Pakistan 5% rice quoted at around $395 - $405 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 quoted at around $400 - $410 per ton, up about $5 per ton from yesterday. India 25% rice is quoted at around $370 - $380 per ton, about $25 per ton premium on Pakistan 25% rice quoted at around $345 - $355 per ton. Parboiled Rice Thailand parboiled rice is quoted at around $420 - $430 per ton. India parboiled rice is quoted at around $405 $415 per ton, about $20 per ton discount to Pakistan parboiled rice quoted at around $425 - $435 per ton. 100% Broken Rice Thailand broken rice, A1 Super, was last quoted at around $340 - $350 per ton, about $10 per ton premium on Vietnam broken rice shown at around $330 - $340 per ton. India broken sortexed rice is quoted at around $320 $330 per ton, on par with Pakistan broken sortexed rice quoted at around $320 - $330 per ton. Tags: Vietnam rice prices, India rice prices, pakistan rice prices, Thailand rice prices
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