25th July, 2014
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TOP Contents - Tailored for YOU Latest News Headlines…
Hopes Rekindle for India Rice Production with Improved Rains, Say Agro Met Officials Asia Rice Quotes Unchanged Today China Assists Fiji to Boost Rice Production, Curb Imports FAO Forecasts Vietnam 2014 Rice Exports at 7 Million Tons; Up 5% from Last Year I's New Sea-Surface-River Route to Save 50% Cost in Rice Transportation Oryza Rice Currency Analysis for Today – Currencies Little Changed Oryza U.S. Rough Rice Recap - Offers Increase as Supplies Dwindle; Export Sales Slump Oryza Overnight Recap - Chicago Rough Rice Trades Slightly Higher Despite Weak Export Sales Report Thailand Commerce Ministry Seeks to Resume Rice Sales from August 2014 Philippines Former Agriculture Undersecretary Slams Additional Rice Importation Plan Oryza Global Rice Quotes
News Detail… Hopes Rekindle for India Rice Production with Improved Rains, Say Agro Met Officials Jul 24, 2014 Arrival of monsoons in India's western state Maharashtra and adjoining states such as Karnataka, Andhra Pradesh, Madhya Pradesh, though late, has led to improving water levels in several reservoirs as well as helped the agriculture sector to revive, according to the Agro Meteorology Department experts, report local sources.The Deputy Director General of Agricultural Meteorology (DG-AM) noted that the improved rainfall in these states would help for the production of rice, the most important cereal in India."Rainfall has struck the parts of central and western India at the right time. We hope that the rainfall activity will continue till end of July which will help in agriculture production," the DGAM added. The Head of Indian Meteorological Department (IMD) said today that some regions, which were dry until few days earlier, received nearly 700% above-average rains in a day and consecutively India monsoon deficit narrowed down to 25% in this week compared to same period last year. He also noted that about 40% of the country recorded normal rains. However, he expressed concern that monsoon rains may weaken as weather “system” over Central India is weakening, according to Bloomberg. He added that rainfall in East & Central India is likely to decrease until July 31, and that next
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spell of rains may not be as heavy as the current one. The IMD predicted July rainfall at 93% below 50-year average, but is lower than IMD forecast. The IMD is expected to update monsoon forecast for August and September in the next week.Planting for kharif rice crop, or main rice crop in India has reached around 12.736 Million hectares of rice area as of July 18, 2014, down about 18% from around 15.485 million hectares planted during the sme time last year, according a statement released by the Indian Agriculture Ministry. Analysts are also expecting 2014 Indian rice production to fall significantly due to lack of rains and are expecting the government to cut down on exports to ensure adequate supplies in the country. Tags: India rice production, rice news, Indian Meteorological Department (IMD), Indian Agrometeorology Department
Asia Rice Quotes Unchanged Today Jul 24, 2014
Asia rice sellers kept their quotes unchanged today. 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. 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. India 25% rice is quoted at around $390 - $400 per ton, about $15 per ton premium on Pakistan 25% quoted at around $375 - $385 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 $30 per ton discount to Pakistan parboiled rice quoted at around $450 $460 per ton. 100% Broken Rice
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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 $10 per ton discount to Pakistan broken sortexed rice quoted at around $325 - $335 per ton.
China Assists Fiji to Boost Rice Production, Curb Imports
The Chinese government is conducting a seminar on hybrid rice seeds planting for the officials of Fiji's Agriculture Ministry to assist them in boosting the country's rice production and curtail rice imports, according to a press release on the Fijian Government website.Thirty officials from the Ministry of Agriculture (MoA) will attend the training seminar during this weekend in China. The Permanent Secretary of the MoA noted that the training would support the Ministry's Rice Revitalization Program. He particularly thanked the government of China for extending its support in planning and arranging for the seminar. “This Bilateral Hybrid Rice Seeds seminar is part of China's initiative to assist the Government of Fiji reduce its rice import bill of $40 million per year,” said the Ministry's Senior Agriculture Officer for Rice, who is also attending the seminar. “The training will equip our Agriculture officers with proper knowledge of planting different rice breeds which they will then pass on to the farmers. This will then contribute to the increase in production of rice in the country,” he added.
FAO Forecasts Vietnam 2014 Rice Exports at 7 Million Tons; Up 5% from Last Year
The UN's Food and Agricultural Organization (FAO) has forecasted Vietnam's 2014 rice exports at around 7 million tons, up about 5% from around 6.65 million tons exported in 2013 due to an increase in production and higher export demand from Asian countries, including Indonesia, Malaysia, China and the Philippines.Vietnam exported around 3.3 million tons of rice during the first six months (January - June) of 2014, down about 6% from around 3.5 million tons exported during the same period in 2013, according to data from the General Statistics Office (GSO), Vietnam.The FAO forecasts the 2014 aggregate paddy rice production at a record high of 44.5 million tons, slightly above the bumper level of around 43.859 million tons produced in 2013, despite a slight contraction in planted area of the summer autumn rice crop (March - October) and 10th month rice crop (mid-June to December) following government's efforts to shift a part of paddy land to other crops such as maize and soybean.
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Harvesting of the 2013-14 mostly irrigated winter/spring (mid-November to June) crop, which accounts for about 45% of Vietnam's annual paddy production, is completed. According to data from GSO, paddy output from this year's winter/spring crop stands at around 20.8 million tons, up about 4% from around 20 million tons produced last year, due to favourable weather conditions and adequate supplies of irrigation water during the growing season. Harvesting of the 2014 summer/autumn rice crop, which accounts to about 32% of Vietnam's total paddy output, has just started. Harvesting of 2014 10th Month rice crop , which accounts to about 23% of Vietnam's total paddy output, will begin in mid-November. Average domestic wholesale prices of rice continued to decline in June, but steady import demand, particularly from China limited further price declines. Average wholesale prices of 25% broken white rice declined to around 7.32 million Dong (around $340) per ton in June 2014, down about 1.5% from around 7.43 million dong (around $350) per ton in May 2014. However, June prices were about 6% higher that their year ago levels.
FCI's New Sea-Surface-River Route to Save 50% Cost in Rice Transportation The Food Corporation of India (FCI) has discovered a new route - from the southern coastal city of Visakhapatnam to the north eastern city of Agartala Via Bangladesh - to save time and cost of transportation by nearly half as compared to regular road-rail routes.The first consignment of 5,000 tonnes of rice has already begun its journey in the sea-river-road way at Visakhapatnam and is heading to Diamond Harbour in Kolkata. It will then traverse the river to Ashuganj in Bangladesh.
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Then again it will hit the road route to Akura and reach Agartala.The Protocol on Inland Water Trade and Treaty signed between India and Bangladesh will oversee the movements. The estimated time for completion of the transportation is 15 days. The FCI, which previously used the Punjab-Haryana rail-road route for rice, is exploring new routes and methods to cut down time and cost of transportation. Tags: Rice, rice news, FCI, new route, India, cost cutting, transport
Oryza Rice Currency Analysis for Today – Currencies Little Changed Jul 24, 2014
U.S. dollar index was stronger +0.07% from the open today, when it traded at 80.878 at the close. Euro was weaker -0.01% by the close, trading around 1.3463 by end of day, after trading between an intraday high of 1.3485 and low of 1.3438. Jobless claims in the U.S. fell to an eight-month low. Thai baht was weaker -0.21%, trading at 31.840 at the close of business. Indian rupee was unchanged at 60.1050. Brazilian real was weaker -0.03% at 2.2201 reais per dollar. Pakistan rupee was +0.22% stronger at 98.6708. Vietnamese dong was -0.05% weaker at 21240. Mexican peso was weaker -0.20% today, when it traded at 12.9597 pesos per dollar by the close of business. Chinese yuan was stronger +0.07% at 6.1943. Argentine peso was weaker -0.07% at 8.1740 pesos per dollar. Tags: foreign exchange rates, Rice currencies, Global rice trade
Oryza U.S. Rough Rice Recap - Offers Increase as Supplies Dwindle; Export Sales Slump Jul 24, 2014
As of today, old crop offers increased to around $15.25 per cwt fob farm (about $336 per ton) for August shipment while some are still firm near $16.00 per cwt fob farm (about $355 per ton).Bids from exporters were unchanged near $14.25 per cwt (about $314 per ton) for August delivery; however, that is receiving no interest as some smaller mills are said to be bidding $16.00 per cwt (about $353 per ton) for the same delivery period.In the meantime, today the USDA reported that cumulative net export sales for the week ending on July 17 totaled 8,200 tons, which was 82% lower than last week and 80% lower than the prior 4-week average.
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ncreases were reported for the following destinations: 5,000 tons to Costa Rica; 4,900 tons to Colombia; 1,300 tons to Canada; 300 tons to Australia; and 200 tons to Mexico, while decreases of 5,300 tons were reported for Turkey as well as 1,100 tons for Haiti.Net sales of 60,900 tons for 2014/15 were reported. Increases were reported for the following destinations: 30,000 tons to Mexico; 26,300 tons ton Turkey; 2,600 tons to Honduras; and 2,000 tons to El Salvador.U.S. rice exporters shipped 39,000 tons, which was 42% lower than the previous week and 16% lower than the prior 4-week average. The primary destinations included 13,200 tons to Japan; 10,900 tons to Colombia; 8,600 tons to Haiti; 2, Jobs/Resumes
Oryza Overnight Recap - Chicago Rough Rice Trades Slightly Higher Despite Weak Export Sales Report Jul 24, 2014
Chicago rough rice futures for Sep delivery were noted 3 cents per cwt (about $1 per ton) higher at $13.150 per cwt (about $290 per ton) during early trading in Chicago. The other grains are seen mostly lower this morning in floor trading in Chicago: soybeans are currently seen about 0.3% higher, wheat is listed about 0.7% lower and corn is noted about 1.5% lower. U.S. stocks wavered on Thursday, with the S&P 500 little changed after another run in uncharted territory, as investors considered disappointing data on the housing market. Wavering on either side of neutral, the Dow Jones Industrial Average lately advanced 6.65 points to 17,1093.28. After rising to another record, the S&P 500 held flat at 1,986.87, with consumer discretionary shares faring best and telecommunications the worst performing among the index's 10 major sectors. The Nasdaq declined 3.84 points, or 0.1%, to 4,469.86. Ahead of Thursday's open, futures had held modest gains after the government reported weekly jobless claims came in at 284,000 last week, less than the 308,000 estimated by analysts. US stock indexes are currently seen about 0.1% higher, gold is currently trading about 1.1% lower, crude oil is seen trading about 0.5% lower, and the U.S. dollar is currently trading marginally higher at 9:30am Chicago time.
Thailand Commerce Ministry Seeks to Resume Rice Sales from August 2014 Jul 24, 2014
Thailand Commerce Ministry will seek permission from the Rice Policy Committee to resume rice sales from August 2014, according to local sources. The National Council for Peace and Order (NCPO) suspended rice sales to carry out inspections relating to quality and quantity of rice stored in various warehouses.The Ministry is planning to sell around 500,000 tons of rice monthly through general auctions, Government-to-Government (G2G) deals and the Agricultural Futures Exchange of Thailand (AFET). Two weeks earlier, the acting Director-General (DG) of Thailand's Foreign Trade Department (FTD) hinted at possible recommencement of rice sales from next month.
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According to local sources, the Ministry sought assistance of the Prime Minister's Office as well as the Finance Ministry to ensure transparency in all sale transactions. It will also use the expertise of the Thai Rice Exporters Association (TREA) in helping Thailand reclaim its world's top rice exporter status. The Ministry stated that it will also assist the private sector in selling rice in specific markets.Currently, there are around 18 million tons of rice in government warehouses, and the inspection of all the warehouses is likely to be completed by the end of September.With rice production is likely to be impacted in India and other Asian countries, due to poor monsoons and drought, analysts expect an increased demand for Thai rice in the global market. However, the President of the TREA suggested that the government sell rice from its stockpiles in small lots of about 100,000 - 200,000 tons to avoid downward pressure on prices.Thai rice prices started regaining after the NCPO held back rice sales. Rice export prices of Thai 5% white rice increased to around $425 per ton this week, up about 4% from around $410 per ton in the previous week and up about 12% from the beginning of June 2014. Yet, prices are still about 10% lower from about $470 per ton during the same period last year.According to data from the TREA, Thailand exported around 2.94 million tons of rice in the first four months of 2014, up about 48% from around 1.985 million tons exported during the same period last year. TREA estimates Thailand to export around 9 million tons of rice in 2014, up about 34% from around 6.7 million tons exported in 2013. FX
Philippines Former Agriculture Undersecretary Slams Additional Rice Importation Plan Jul 24, 2014
The former Undersecretary of the Department of Agriculture (DA) slammed the government's plan to import an additional 500,000 tons of rice this year over and above the already imported 800,000 tons, according to local sources.Local media sources quoted him condemning the move as "politically motivated" and as a sign of "distrust" of local farmers. He noted that the importation before the harvest season in September would put increased economic burden on marginalized rice farmers. He questioned how there would be a shortage of rice stocks during the harvest season. The former Undersecretary, who lead the DA's rice self-sufficiency program and resigned from his post following a reorganization in the DA, said the move was an election stunt. A group of registered rice traders also blamed the Presidential Assistant for Food Security for using typhoon as a pretext to import huge quantities of rice.However, the Presidential Assistant for Food Security asserted that additional imports are necessary due to huge withdrawals from government warehouses as well as to contain price hikes. The government was criticized for reducing official imports in 2013, which lead to unreasonable price hikes and high level of unofficial imports in the country.
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With the additional approved imports, total rice imports by the Philippines have so far in 2014 reached around 1.3 million tons. USDA estimates the Philippines will import around 1.45 million tons of rice in 2014, including around 250,000 tons of unofficial rice imports, and the UN’s Food and Agriculture Organization estimates the country to import around 1.2 million tons of rice in 2014.
Oryza Global Rice Quotes July 24th, 2014 Long grain white rice - high quality Thailand 100% B grade 435-445
↔
Vietnam 5% broken
445-455
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India 5% broken
435-445
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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
375-385
↔
Cambodia 25% broken 425-435
↔
India 25% broken
390-400
↔
U.S. 15% broken
530-540
↔
Long grain parboiled rice Thailand parboiled 100% stxd
440-450
Pakistan parboiled 5% broken stxd
↔
450-460
↔
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India parboiled 5% broken stxd 420-430
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U.S. parboiled 4% broken
630-640
↔
Brazil parboiled 5% broken
NQ
↔
Uruguay parboiled 5% broken NQ
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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
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Vietnam 100% broken 340-350 Pakistan 100% broken stxd Cambodia A1 Super
↔
325-335
350-360
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India 100% Broken stxd
315-325
Egypt medium grain brokens
NQ
U.S. pet food
↔
470-480
Brazil half grain
NQ
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↔
↔
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All prices USD per ton, FOB vessel, oryza.com
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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