23rd September , 2014
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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
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Egypt to Lift Ban on Rice Imports in MY 2014-15 Sep 23, 2014
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 they reach 1 million tons, whichever is earlier.Egypt had first banned rice exports in 2011 to ensure adequate supplies for its food subsidy program. The government continued the ban in November 2013 despite having an annual exportable surplus of around 800,000 tons again prioritizing to the food subsidy program. In March 2014, the new Minister of Supply as Internal Trade (MoSIT) hinted at the possible lifting of the ban to help revive the country's economy and service the foreign demand for Egyptian rice.USDA estimates Egypt to produce 4.9 million tons of milled rice and export around 875,000 tons in MY 2014-15 (October - September). Tags: Egypt rice exports, Egypt rice export ban, Egypt food subsidy program
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Global Rice Quotes Oryza Global Rice Quotes
Long grain white rice - high quality Thailand 100% B grade 450-460
↔
Vietnam 5% broken
435-445
↓
India 5% broken
425-435
↔
Pakistan 5% broken
410-420
↓
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
360-370
↔
Cambodia 25% broken 450-460
↔
India 25% broken
380-390
↔
U.S. 15% broken
515-525
↔
Long grain parboiled rice
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Thailand parboiled 100% stxd
430-440
Pakistan parboiled 5% broken stxd
↔
440-450
India parboiled 5% broken stxd 415-425
↔
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% 1065-1075
↔
Vietnam Jasmine
↔
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
↔
325-335
360-370
↔
India 100% Broken stxd 330-340
↔
Egypt medium grain brokens
NQ
↔
U.S. pet food
↔
460-470
Brazil half grain NQ
↔
↔
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All prices USD per ton, FOB vessel, oryza.com
Nigeria Industrial Bank Plans to Support Rice Sector with $79 Million Intervention Fund Sep 23, 2014
The Bank of Industries (BOI) in Nigeria is collaborating with the Federal Ministry of Agriculture and Rural Development (MARD) to provide N13 billion (around $79 million) rice intervention fund to help boost rice production in the country, according to local sources.The fund would be used to establish 10 integrated rice mills across the nation. The Managing Director and Chief Executive Officer of the BOI told local sources that the fund will also be used to provide five-year loans at an interest rate of 9% per annum to farmers to establish small scale plants or mini mills to process rice, adding that the bank would allow for a loan moratorium of six months.He also noted that the government is aiming to create about 20,000 direct and indirect under its Agriculture Transformation Agenda (ATA). The fund is useful for Nigeria, which is a net importer of rice and imports nearly half of its rice consumption demand. The government has been aiming to increase the country's rice production and ban imports by 2015. The government has also been encouraging farmers to increase rice production and thereby contribute to food security in the country.The government's plan to discourage rice imports by increasing tariff to 110% has led to rampant rice smuggling in the country forcing the government to trim down the tariff to 60%. Now the government is exploring other means of improving production in the country. Recently, a private industrialist invested in the country's rice sector to help it boost production.USDA estimates Nigeria to produce 2.77 million tons of rice in MY 2013-14 (October - September) and import around 3 million tons of rice in 2014. It estimates Nigeria's production to decline to around 2.55 million tons in MY 2014-15 and import around 3.5 million tons in 2015. Tags: Nigeria rice production, nigeria rice imports, Nigeria Agriculture transformation Agenda (ATA)
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Vietnam, Pakistan Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Sep 23, 2014
Vietnam rice sellers lowered their quotes for 5% broken rice by about $5 per ton to around $435- $445 per ton today. Pakistan rice sellers lowered their quotes for 5% broken rice by about $5 per ton to around $410 - $420 per ton. Other Asia rice sellers kept their quotes mostly unchanged. 5% Broken Rice Thailand 5% rice is quoted at around $435 - $445 per ton, on par with Vietnam 5% rice shown at around $435 $445 per ton, down about $5 per ton from yesterday. India 5% rice is quoted at around $425 - $435 per ton, about $15 per ton premium on Pakistan 5% rice quoted at around $410 - $420 per ton, down about $5 per ton from yesterday. 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. India 25% rice is quoted at around $380 - $390 per ton, about $20 per ton premium on Pakistan 25% rice quoted at around $360 - $370 per ton. Parboiled Rice Thailand parboiled rice is quoted at around $430 - $440 per ton. India parboiled rice is quoted at around $415 $425 per ton, about $25 per ton discount to Pakistan parboiled rice last quoted at around $440 - $450 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 shown at around $335 - $345 per ton. India broken sortexed rice is quoted at around $330 - $340 per ton, about $5 per ton premium on Pakistan broken sortexed rice quoted at around $325 - $335 per ton.
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Tags: Vietnam rice prices, India rice prices, Thailand rice prices, pakistan rice prices
Brazil Paddy Rice Index Slightly Down from Last Week Sep 23, 2014
The Brazilian paddy rice index maintained by CEPEA reached around 36.86 real per 50 kilograms as of September 22, 2014, down about 0.08% from around 36.89 real per 50 kilograms recorded on September 15, 2014.
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In terms of USD per ton, the index reached around $309 per ton on September 22, 2014, down about 5% from around $325 per ton recorded on September 15, 2014. Tags: Brazil paddy rice index, Brazil CEPEA index
Rice Marketers Group Urges Ghana Government to Step Up Efforts to Increase Production and Cut Imports Sep 23, 2014
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.The Executive Secretary of the Association lauded the government for its initiative to abandon rice importation and encourage rice production in the country, but noted that the government needs to speed up processes for enhancing basic infrastructure and logistics to enable them to increase rice production and contribute to achieving rice self-sufficiency.
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He warned that the Association would not tolerate any attempts by the government to back out on its decision.He noted that credit banks, rural banks and financial institutions could assist farmers by offering flexible loan options.Ghana produces only 35% of the required demand of around 975,000 tons and imports the rest. Ghana's annual rice import bill stood at $306 million in 2013 and the government is planning to increase rice production by about 20% per annum over the next four years to make Ghana self-sufficient in rice. It is targeting at least 13% surplus rice production by 2018.overnment has also sought technical support from Turkey, India and the Dutch to increase rice production in the country. It also developed a national rice seed map (NRSRM) to ensure self-sufficiency in quality rice seed production by 2018.According to the USDA, Ghana’s rice production is estimated at about 352,000 tons (milled basis) in MY 2013-14 (October September). The U.S. agency expects Ghana to import 600,000 tons of rice during the year to meet consumption needs of around 975,000 tons of rice. It estimates Ghana to produce about 330,000 tons and import about 620,000 tons of rice in MY 2014-15. Tags: Ghana rice production, Ghana rice imports, National Rice Seed Road Map
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