23rd July , 2014
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TOP Contents - Tailored for YOU Latest News Headlines…
FAO Forecasts 2014 Central America Paddy Rice Production at 574,000 Tons; Slightly Up from Last Year Brazil Paddy Rice Index Declines Slightly From Last Week Gambia May Reconsider 2016 Rice Import Ban Guyana Rice Sector Plagued by High Production Costs, Says Agriculture Minister Oryza Afternoon Recap - Chicago Rough Rice Futures Recover to Move Back above $13.00 before Taking out Nearby Technical Resistance Oryza Global Rice Quotes Oryza Overnight Recap - Chicago Rough Rice Futures Pop Higher Overnight as Market Searches for True Bottom and Other Grains Provide Supportive Backdrop Oryza Rice Currency Analysis for Today – Brazil Real Adcances 0.5% Vietnam Rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Rice Price Increases Fail to Cheer Vietnam Farmers USDA Post Estimates China Hybrid Rice Seed Supply to Exceed Demand in MY 2013-14 Philippines Domestic Rice Prices Reach Record High in January – June 2014
News Detail… FAO Forecasts 2014 Central America Paddy Rice Production at 574,000 Tons; Slightly Up from Last Year Jul 22, 2014
The UN's Food and Agricultural Organization (FAO) has forecasted Central American countries' paddy rice production to increase to around 574,000 tons in 2014, slightly up from an estimated 571,600 tons in 2013.
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Sowing for the main rice crop (May - October) has concluded and weather was favorable in most of the rice growing regions, with above-average rains in mid-June. However, below-average precipitation in Nicaragua and southern Honduras led to some crop losses and more rains are required to avoid reduction in yields in these countries. Planting for the secondary rice crop (June - October) will begin in August.robability of an El Nino event in the last quarter of 2014 may affect rice production of the main season crop as well as secondary crop due to associated dry weather. Tags: Central America paddy rice production, El Salvador paddy production, Nacaragua paddy rice production, Honduras paddy rice production, Guatemala paddy rice production
Brazil Paddy Rice Index Declines Slightly From Last Week Jul 22, 2014
The Brazilian paddy rice index maintained by CEPEA reached at about 35.93 real per 50 kilograms as of July 21, 2014, down about 0.4% from about 36.03 real per 50 kilograms recorded on July 14, 2014.In terms of USD per ton, the index reached at about $323 per ton on July 21, 2014, down about 0.6% from about $325 per ton recorded on July 14, 2014 Tags: Brazil rice prices, Brazil paddy rice index, Brazil Rice News
Gambia May Reconsider 2016 Rice Import Ban 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
Jul 22, 2014
The Gambia government is likely to reconsider its decision to ban rice imports from 2016 under the President's "Vision 2016 Rice SelfSufficiency" Agenda if the rice harvest for the upcoming season is not satisfactory, according to local sources.In a televised speech, the President hinted at a possible retraction of import ban depending on the production levels in 2014 and 2015. He noted that the rice import ban would hold good if the country produced sufficient rice to meet local demand by 31 December 2015. He reiterated that his vision was meant to make The Gambia self-sufficient in rice production and reduce its dependency on imports. He noted that the country has enough resources such as land and water to grow sufficient rice for its people.
The President declared his stance in June 2013 and reiterated in April this year, but critics still feel the goal as unrealistic given that The Gambia currently produces only 20% of its rice consumption needs and it would need to increase its rice production by fivefold or more to reach self-sufficiency target. Experts say 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 125,000 tons in MY 2013-14 (October September) to meet consumption needs of around 165,000 tons. Tags: Gambia rice news, Gambia rice production, Gambia rice exports, Gambia rice import ban
Guyana Rice Sector Plagued by High Production Costs, Says Agriculture Minister Jul 22, 2014
High production costs and the government's inability to find right markets for its rice exports are deterring the growth of Guyana's rice sector, according to the Agriculture Minister, report local sources.Speaking before the Parliamentary Sectoral Committee Meeting on Natural Resources on July 21, 2014, the Minister stated that
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Guyana has been able to produce overwhelmingly good amount of rice for the last two years but the main challenge faced by the country's rice sector is the ability to compete in the world market. He stated that the country is unable to compete with top exporters such as Vietnam and Thailand as they can offer rice at reasonable prices because of their low production costs. Whereas Guyana cannot offer rice at competitive prices owing to high production costs, he noted.The Minister also noted that Guyana has a specific premium rice market but that is being occupied by world's other top exporters. He warned that if Guyana has to expand its premium market share, the government has to address the issue of production costs. It is important to sustain in global rice market, he noted. Guyana mainly exports to Venezuela, but is also negotiating with Haiti, Panama, Belize, Guatemala and several other African countries. It is also trying to renegotiate severed trade relations with some European countries as well.In 2013, Guyana produced around 535,000 tons of rice and exported around 395,000 tons, according to the Minister. He said the government is forecasting the rice production to reach around 614,000 tons in 2014 and targets to export around 461,000 tons.USDA estimates the country to produce 536,000 tons in the MY 2014-15 (January 2-14 - December 2014) and export about 400,000 tons. The country's consumption needs during the year are estimated at 130,000 tons.
Oryza Afternoon Recap - Chicago Rough Rice Futures Recover to Move Back above $13.00 before Taking out Nearby Technical Resistance Jul 22, 2014
Chicago rough rice futures for Sep delivery settled 18.5 cents per cwt (about $4 per ton) higher at $13.165 per cwt (about $290 per ton). Rough rice futures rebounded today following losses sustained late last week as well as further losses yesterday. Today’s move has returned the market above $13.000 and ultimately left the market just above nearby resistance which had been noted at $13.145 per cwt (about $290 per ton) provided by the 10day moving average. Today’s move is seen as a positive development for the market and could be interpreted as an early sign that a reversal higher is underway. Look for a higher close tomorrow as further confirmation that a recovery is indeed underway. The other grains finished the day with less satisfying results with all components of the complex off over 1%; soybeans closed about 1.3% lower at $10.5775 per bushel; wheat finished about 1% lower at $5.2450 per bushel, and corn finished the day about 1% lower at $3.6825 per bushel.U.S. stocks rose on Tuesday, lifting the S&P 500 to a record, with Wall Street cheered by quarterly earnings and data that cast a benign light on inflation and progress in the housing market. The consumer price index rose 0.3% last month after a 0.4% rise in May. The core measure, which does not take food and energy costs into account, increased 0.1%. Another report from the National Association of Realtors had existing-home sales rising a better-than-expected 2.6% in June.
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The Dow Jones Industrial Average rose 67.84 points, or 0.4%, to 17,119.57. After rising above its July 3 record, the S&P 500 added 11.35 points, or 0.6%, to 1,984.98, with energy and health care leading sector gains and consumer staples and utilities the laggards among its 10 major industry groups. The Nasdaq climbed 35.25 points, or 0.8%, to 4,459.95. Gold is trading about 0.6% lower, crude oil is seen trading about 0.5% lower, and the U.S. dollar is seen trading about 0.3% higher at about 1:00pm Chicago time.
Oryza Global Rice Quotes July 22nd, 2014 Long grain white rice - high quality
Thailand 100% B grade 435-445
↔
Vietnam 5% broken
445-455
↑
India 5% broken
435-445
↔
Pakistan 5% broken
435-445
↔
Cambodia 5% broken
450-460
↔
U.S. 4% broken
550-560
↔
Uruguay 5% broken
625-635
↔
Argentina 5% broken
620-630
↔
Long grain white rice - low quality ↔
Thailand 25% broken
NQ
Vietnam 25% broken
395-405
↑
Pakistan 25% broken
380-390
↔
Cambodia 25% broken 425-435
↔
India 25% broken
↔
390-400
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U.S. 15% broken
530-540
↔
Long grain parboiled rice Thailand parboiled 100% stxd
440-450
Pakistan parboiled 5% broken stxd
↔
435-445
India parboiled 5% broken stxd 420-430
↔
U.S. parboiled 4% broken
630-640
↔
Brazil parboiled 5% broken
NQ
↔
Uruguay parboiled 5% broken NQ
↔
↔
Long grain fragrant rice Thailand Hommali 92% Vietnam Jasmine
1000-1010 595-605
↔
India basmati 2% broken
NQ
↔
Pakistan basmati 2% broken
NQ
↔
Cambodia Phka Malis 835-845
↔
↔
Brokens Thailand A1 Super
NQ
↔
Vietnam 100% broken 340-350 Pakistan 100% broken stxd Cambodia A1 Super
↔
335-345
350-360
↔
India 100% Broken stxd
315-325
Egypt medium grain brokens
NQ
U.S. pet food
↔
470-480
Brazil half grain
NQ
↔
↔
↔
↔
Medium grain milled
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U.S. Calrose 4% broken
1025-1035
Egypt medium grain 6%
NQ
↔
↔
All prices USD per ton, FOB vessel, oryza.com
Oryza Overnight Recap - Chicago Rough Rice Futures Pop Higher Overnight as Market Searches for True Bottom and Other Grains Provide Supportive Backdrop Jul 22, 2014
Chicago rough rice futures for Sep delivery were noted 4 cents per cwt (about $1 per ton) higher at $13.0020 per cwt (about $287 per ton) during early trading in Chicago. The other grains are seen higher this morning in floor trading in Chicago: soybeans are currently seen about 0.4% higher, wheat is listed about 0.8% higher and corn is noted about 0.4% higher. U.S. stock index futures rose on Tuesday, adding to gains after the government reported the cost of living rose in June, with investor sentiment also stabilized by a breakthrough in developments over the downed Malaysia Airlines plane and encouraging earnings reports. The consumer price index rose 0.3% last month after a 0.4% rise in May. The core measure, which does not take food and energy costs into account, increased 0.1%. As stock futures gained, so did the U.S. dollar and the yield on the 10-year Treasury note. Crude futures gained, and gold futures fell. In developments overseas, pro-Russia rebel leaders handed over two black boxes from the plane to experts in Donetsk in Ukraine, who confirmed they were in good condition. Meanwhile, Russia's envoy to Malaysia said in a news conference that the rebels did not have Buk missile systems and called for an investigation to be conducted by the international community. In addition, President Barack Obama said in a televised speech on Monday that he would still prefer a diplomatic resolution to the situation in Ukraine and did not announce any "level three" sanctions. US stock index futures are currently seen about 0.4% higher, gold is currently trading about 0.2% lower, crude oil is seen trading about 0.1% lower, and the U.S. dollar is currently trading about 0.2% higher at 9:30am Chicago time.
Oryza Rice Currency Analysis for Today – Brazil Real Adcances 0.5% Jul 22, 2014
U.S. dollar index was stronger +0.27% from the open today, when it traded at 80.780 at the close.
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Euro was weaker -0.41% by the close, trading around 1.3468 by end of day, after trading between an intraday high of 1.3530 and low of 1.3449. Thai baht was stronger +0.42%, trading at 31.760 at the close of business. Indian rupee was stronger +0.09% at 60.2513. Brazilian real was stronger +0.47% at 2.2108 reais per dollar. Pakistan rupee was -0.04% weaker at 98.8098. Vietnamese dong was unchanged at 21220. Mexican peso was stronger +0.25% today, when it traded at 12.9383 pesos per dollar by the close of business. Chinese yuan was stronger +0.09% at 6.2037. Argentine peso was weaker -0.06% at 8.1660 pesos per dollar.
Vietnam Rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Jul 22, 2014
Vietnam rice sellers increased their quotes for 5% broken rice and 25% broken rice by about $5 per ton each to around $445 - $455 per ton and around $395 - $405 per ton today. Other Asia rice sellers kept their quotes mostly unchanged.
5% Broken Rice Thailand 5% rice (of new crop) is quoted at around $420 - $430 per ton, about $25 per ton discount to Vietnam 5% rice quoted at around $445 - $455 per ton, up about $5 per ton from yesterday. India 5% rice is quoted at around $435 - $445 per ton, on par with Pakistan 5% rice quoted at around $435 - $445 per ton. 25% Broken Rice Thailand 25% rice (of the old crop) was last quoted at around $350 - $360 per ton, about $45 per ton discount to Vietnam 25% rice quoted at around $395 - $405 per ton, up about $5 per ton from yesterday. India 25% rice
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is quoted at around $390 - $400 per ton, about $10 per ton premium on Pakistan 25% quoted at around $380 $390 per ton. Parboiled Rice
Thailand parboiled rice (of the old crop) is quoted at around $440 - $450 per ton. India parboiled rice is quoted at around $420 - $430 per ton, about $15 per ton discount to Pakistan parboiled rice quoted at around $435 $445 per ton.
100% Broken Rice Thailand broken rice, A1 Super, (of the old crop) was last quoted at around $310 - $320 per ton, about $30 per ton discount to Vietnam broken rice quoted at around $340 - $350 per ton. India broken sortexed rice is quoted at around $315 - $325 per ton, about $20 per ton discount to Pakistan broken sortexed rice quoted at around $335 - $345 per ton.
Rice Premix May Be the Answer to Anaemia in Philippines Jul 22, 2014
A cost-effective fortified rice premix could be the answer to iron and zinc deficiency in the Phillipines if it manages to clear the efficacy tests and market trials. The multi-nutrient extruded rice kernels (MNERK), as the rice premix is called, developed by the Food and Nutrition Research Institute-Department of Science and Technology (FNRI-DOST) of Philippines has to clear efficacy, shelf life, vitamin and mineral tests before it is declared as the panacea for vitamin deficiency. Dr Williams had introduced the concept of rice fortification as early as the 1940s in the Philippines but the idea was abandoned as the country found it difficult and expensive to get the rice millers to comply with distributing fortified rice.Although Philippines did record a drop in Beri-Beri disease after the children were fed fortified rice, the rice millers who form a majority in the populace did not co-operate in distributing fortified rice. The rice premix idea by the government may prove to be a success as it eliminates the need for rice millers to fortify the rice.
Rice Price Increases Fail to Cheer Vietnam Farmers 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
Jul 22, 2014
Vietnam rice farmers are not in a position to take advantage of the increasing rice prices and are blaming the Vietnam Food Association (VFA) for their plight. They say the VFA has not guided then properly regarding the market demands and prices, according to local sources.
There is a reason behind their anxiety. Global rice prices have gone down significantly between January and April 2014 due to excessive sales by Thailand. However, after the military government took over in May, it ended the controversial pledging scheme and stopped the distress sales citing rice stock inspection as reason. This development has led to a rise in not only Thai rice prices but also global rice prices. Viet rice prices are no exception to this.Export
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prices of Viet 5% broken white rice have increased to around $445 per ton this week, up about 6% from around $420 per ton in the beginning of July 2014, and about 8.5% from around $410 in June 2014. Prices of the same have increased by about 15% from around $388 per ton in July 2013. In the beginning of the year, Vietnam has been very keen to clinch as many as export orders understanding the stiff competition from Thailand, which had nearly 18 million tons of rice stocks accumulated from the rice pledging scheme. In fact, Vietnam lowered prices to win the Philippines contract for 800,000 tons. Later it also won the Philippines contract for additional 200,000 tons of rice as well as 200,000 tons rice contract from Malaysia. But this did not seem to be an encouraging factor to neither Vietnam rice exporters nor the rice farmers. Exporters slammed the VFA and the two state-owned export enterprises for quoting too low bid for Philippines. Some exporters went to the extent of withdrawing from servicing the Philippines contract. Farmers were forced to sell their paddy to exporters at very low prices expecting a further decline in prices as well to clear their loans and debts. Even the stock buying scheme introduced by the government hardly helped support prices. Now, with the global market dynamics changing drastically, Vietnam farmers are lamenting that they do not have any stocks left to be sold at current increased prices. They say they are not able to take advantage of global rice price recovery. Increased demand from exporters as well as increase in global rice prices have pushed up local rice prices in Vietnam as well.
VFA expects Vietnam to export around 7.2 million tons of rice in 2014, up about 7% from around 6.7 million tons exported in 2013. Vietnam exported around 3.26 million tons of rice during Jan 1 - July 17, 2014, down about 20% from about 4.1 million tons of rice exported in first seven months of last year, according to VFA.
USDA Post Estimates China Hybrid Rice Seed Supply to Exceed Demand in MY 2013-14 Jul 22, 2014
USDA Post estimates China hybrid rice seed supply at around 430,000 tons in MY 2013-14 (July - June), up about 32% from around 325,000 tons in the previous year. However, it estimates demand for rice seeds at around 250,000 tons in MY 2013-14. This oversupply is leading to excess stocks in China, according to the Post.The USDA Post estimates 2014 China's hybrid rice seed stocks to increase to around 155,000 Tons, up about 8% from around 140,000 tons in 2013. Chinese rice seed companies have expanded rice seed production beyond demand over the past several years due to strong profits and in expectation of future high production costs.
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But due to oversupply of rice seeds in the market, they have been taking steps to cut down on rice seed supplies by reducing acreage in 2013, but seed production exceeded demand in 2013 leading to record stocks in 2014.The Post estimates 2013 hybrid rice seed production at around 290,000 tons, down 16% from around 250,000 tons last year due to reduced acreage. Rice seed acreage declined to around 104,000 hectares in 2013, down about 19% from around 124,000 hectares in 2012.USDA Post estimates China to export around 19,000 tons of rice seeds in MY 2013-14, up about 12% from around 16,964 tons exported in MY 2012-13. China's major export destinations are Vietnam, Pakistan, Philippines, Bangladesh and Indonesia. The China government is planning to consolidate its seed industry by encouraging development of integrated companies with independent research and development capabilities. On January 19, 2014, it released a highlevel policy document on agriculture seeking development of the modern seed industry.The Post reports that China is also revising its seed law as part of its efforts to develop a stronger domestic seed industry. The draft law is expected to be published for public comment in fall 2014 and, if approved, enacted in 2015.
Philippines Domestic Rice Prices Reach Record High in January - June 2014 Jul 22, 2014
Average domestic rice prices in the Philippines has reached a record high during the first six-month period of 2014, highest since January 2011.Accordin g to data from the Philippines Bureau of Agricultural Statistics (BAS), the average wholesale price of well-milled rice (WMR) in the Philippines increased to about P38.64 per kilogram in January - June 2014, up about 18% from about P32.83 per kilogram during the same period in 2013, while the average retail price of WMR increased to about P41.21 per kilogram in January - June 2014, up about 17% from about
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P35.33 per kilogram during the same period in 2013.Average wholesale price of regular-milled rice (RMR) increased to about P35.90 per kilogram in January - June 2014, up about 20% from about P29.86 per kilogram during the same period in 2013. Average retail price of RMR increased to about P37.98 per kilogram in January - June 2014, up about 19% from about P32 per kilogram during the same period in 2013, the BAS says. In terms of USD per ton (using historical exchange rates), the average wholesale price of WMR stood at about $871 per ton in January - June 2014, up about 9% from the same period in 2013. Average retail price of WMR increased to about $929 per ton in January - June 2014, up about 8% from the same period in 2013. Average wholesale price of RMR increased to about $809 per ton in January - June 2014, up about 12% from the same period in 2013. Average retail price of RMR increased to about $856 per ton in January - June 2014, up about 10% from the same period in 2013. The Philippines will import around 1 million tons of rice from Vietnam between May and August 2014 to maintain buffer stocks and control rice prices in the country. It is planning to import an additional 200,000 tons of rice, for delivery by September 2014, as typhoon Glenda destroyed several hectares of rice fields in the country.
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