25th March , 2014
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Rwanda Considers Rice Import Barriers to Boost Domestic Production; Going the Way of Nigeria? Oryza U.S. Rough Rice Recap – Market Quiet as Price Ideas Differ Thailand Paddy Rice Production Estimated at 38.8 Million Tons in 2014-15, Despite Lower Acreage Argentina Exports 50,873 Tons of Rice in January 2014; Up 38% from Last Year Oryza Rice Currency Analysis for Today – China Yuan Up 0.5% China Imports 338,700 Tons of Rice in January - February 2014, Down 20% from Last Year USDA Post Forecasts Ecuador MY 2014-15 Rice Production at 787,000 Tons; Up 3% from Previous Year USDA Post Forecasts Colombia MY 2014-15 Paddy Rice Production to Decline to 1.86 Million Tons; Down 3% from Previous Year Vietnam May Slash Rice Export Prices to Win Philippines Tender, Say Thailand Exporters Vietnam Exports 859,119 Tons of Rice in January 1 - March 20, 2014 Philippines Economists Urge Government to Abandon Rice Sufficiency Policy, Allege Corruption in NFA Rice Imports Oryza Global Rice Quotes
NEWS DETAILS: Rwanda Considers Rice Import Barriers to Boost Domestic Production; Going the Way of Nigeria?
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Mar 24, 2014
The Rwanda Agriculture Board reports that Rwanda has seen consistent increases in rice production over the last few years and plans to discontinue all imports by 2017.The head of the post-harvest Cooperative and Rice Marketing program for the Rwanda Agriculture Board, claims that the increased production is due to improved rice-growing techniques, more developed marshland, and subsidized fertilizers supplied by the Ministry of Agriculture and Animal Husbandry (MINAGRI) which offsets farmersâ€&#x; costs. Imported rice is often sold more cheaply than domestic rice, making it difficult for local millers, processors, and farmers to compete. A rice miller in Rwanda says that Pakistani rice was selling for about Rwf 17,000 per 25 kilograms (about $1,016 per ton) but most recently is priced about Rwf 14,000 per 25 kilograms (about $836).The head of the post-harvest Cooperative and Rice Marketing program is calling for heavy taxes on imported rice in order to boost local sales. According to him, from 2011 to June 2013 Rwanda imported over 126,931 tons of rice, on par with USDA estimates (above). Rwanda hopes to produce at least 167,186 tons annually by 2017, which will more than meet the consumption needs of 137,053 tons for the country, according to the head of the cooperative.Rwanda is not alone in trying to protect its local rice producers from competition abroad, especially from cheaper Asian rice. However, trade protection typically means more money for smugglers than improved economics of domestic production. Nigeria is an example in point. Tags: rwanda rice production, rwanda rice imports
Oryza U.S. Rough Rice Recap – Market Quiet as Price Ideas Differ Mar 24, 2014
The U.S. cash market was uneventful today as most buyers and sellers continue to stand off on prices. As of today, old crop offers remain unchanged near $15.55-$16.11 fob farm (about $343-$355 per ton) for nearby shipment. Bids from larger mills increased slightly today to around $15.25 per cwt (about $336 per ton) for March-April delivery while bids for exporters could still be found around $15.55 per cwt (about $343 per ton), for the same delivery period, both of which generated little interest as smaller mills are still said to be bidding as high as $16.25 per cwt (about $358 per ton) for prompt delivery. Tags: U.S. rice prices, U.S. rice market
Thailand Paddy Rice Production Estimated at 38.8 Million Tons in 2014-15, Despite Lower Acreage Mar 24, 2014
Thailand paddy rice (with 15% moisture content) production is estimated to reach around 38.8 million tons (about 26 million tons, basis milled; or about 21.8 million tons, basis milled and 0% moisture content) in the
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calendar year 2014, almost unchanged from an estimated 38.79 million tons in 2013, despite a 2% decline in planted area this year, according to data from the Office of Agricultural Economics (OAE).The OAE says that the main-season crop (May - January) will account for about 28.58 million tons of paddy rice, while the offseason crop (January - June) will account for about 10.23 million tons of paddy rice this year.Overall yield of the main crop is expected to increase around 1% in 2014 compared to the previous year. However, Thailandâ€&#x;s total rice planted area is estimated to decline by about 2% to 11.34 million hectares in 2014 from 11.53 million hectares in 2013. Planted area under the main-season crop is estimated to decline to 10.35 million hectares in 2014 from 10.4 million hectares in 2013, while planted area under the off-season crop is estimated to decline to 1 million hectares in 2014 from 1.1 million hectares in 2013.The expected decline in rice planting area is mainly due to drought in some parts of Thailand's rice growing areas. The government agriculture zoning program is also underway, in which about 4.44 million hectares of rice area (or about 39% of the total rice area of around 11.34 million hectares) would be used to grow other cash crops, such as sugarcane, in 3-4 years.According to the USDA, Thailandâ€&#x;s paddy rice production is expected to reach around 31 million tons (about 20.5 million tons, basis milled) in MY 2013-14, up about 1.5% from around 30.6 million tons of paddy (about 20.2 million tons, basis milled) in MY 2012-13. The USDA forecasts Thailand to export 8.5 million tons of rice in 2014, up about 27% from around 6.7 million tons in 2013. Thailand's paddy rice area is estimated to increase to 10.9 million hectares in MY 2013-14 from 10.84 million tons in MY 2012-13.
Argentina Exports 50,873 Tons of Rice in January 2014; Up 38% from Last Year
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Argentina has exported around 50,873 tons of rice in January 2014, up about 38% from about 36,965 tons of rice exports in January 2013, and up about 18% from around 42,915 tons of rice exported in December 2013, , according to the Ministry of Agriculture.Argentina‟s rice exports in January 2014 include: 23,059 tons (about 45% of total rice exports in January 2014) to Brazil; 20,951 tons (about 41%) to Senegal; 3,335 tons (about 7%) to Bolivia; and 1,896 tons (about 4%) to Chile.According to the USDA, rice production in Argentina is estimated at around 975,000 tons (basis milled) in MY 2014-15 (April – March), against a consumption of 430,000 tons. Rice exports are expected to reach around 650,000 tons in MY 2014-15 helped by the recent depreciation of the Argentina Peso against the USD. Tags: Argentina rice exports
Oryza Rice Currency Analysis for Today – China Yuan Up 0.5% Mar 24, 2014
U.S. dollar index was down -0.23% from the open today, when it traded at 79.928 at the close. Euro was stronger +0.34% by the close, trading around 1.3840 by end of day, after trading between an intraday high of 1.3876 and low of 1.3760. Thai baht was weaker -0.21%, trading at 32.459 at the close of business. Indian rupee was stronger +0.23%, closing at 60.7875. Brazilian real was +0.19% stronger at the close of trading today, trading at 2.3207 reais per dollar. Pakistan rupee was +0.07% stronger at 97.8123. Vietnamese dong was unchanged at 21098. Mexican peso was stronger +0.41% today, when it traded at 13.1780 pesos per dollar by the close of business. Chinese yuan was stronger +0.51%, trading at 6.1943. Argentine peso was weaker -0.13% at 7.9739 pesos per dollar. Tags: foreign exchange rates
China Imports 338,700 Tons of Rice in January - February 2014, Down 20% from Last Year
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Mar 24, 2014
China‟s rice imports in the first two months of the calendar year 2014 stand at around 338,700 tons rice, down about 20% from about 425,813 tons of rice imports during same period in 2013, according to data from the General Administration of Customs of China (GAC). However, China‟s rice imports in February 2014 stand at around 139,000 tons, which is up about 15% from about 120,590 tons of rice imported in February, 2013.China has signed an agreement to import around one million tons of rice from Thailand. According to sources, Thailand is expected to export around 100,000 tons of rice to China soon.China‟s rice exports are down sharply this year. In January – February 2014, China exported about 24,141 tons rice, down about 76% from about 101,300 tons rice exported during same time in last year. In February 2014, China‟s rice exports stood a mere 600 tons, compared to around 63,100 tons in February 2013 and to around 23,541 tons in January 2014. According to the GAC, China imported around 2.26 million tons of rice and exported about 478,400 tons of rice in the full calendar year 2013. Tags: China rice imports
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USDA Post Forecasts Ecuador MY 2014-15 Rice Production at 787,000 Tons; Up 3% from Previous Year Mar 24, 2014
The USDA Post in Quito says that Ecuadorâ€&#x;s milled rice production in MY 2014-15 (April - March) is expected to increase by about 3% to 787,000 tons from an estimated 767,000 tons in MY 2013-14 due new and improved rice varieties and good weather conditions.The Post says that Ecuador is able to obtain two harvests per year in areas under irrigation by using new, improved rice varieties. Producers are benefitting from a combination of high international prices, government subsidized inputs and strong demand, according to the Post. The Ecuador government is keen to increase domestic production of rice to reduce dependence on imports. Most of the country's rice production occurs in the coastal lowlands, which flood during the November-April rainy season. Usually the second larger harvest comes from at the end of the rainy season (May - June). However, rice production in Ecuador is heavily dependent on weather. The Post says that only a third of acreage is planted during the summer months and is limited by access to irrigation, while about 75% of Ecuador's rice farmers are poor and cannot afford expensive irrigation. Average farm size in Ecuador is 5 hectares with yields of about 2.5 tons per hectare.Most of the rice produced in Ecuador is consumed locally. The Post forecasts Ecuador's total rice consumption to reach around 760,000 tons in MY 2014-15, 3% more than 740,000 tons in MY 2013-14. The Post estimates Ecuador's per capita consumption at 5 kilograms per month or about 60 kilograms per year. According to the Post, domestic rice in Ecuador is marketed through wholesalers in 45kilogram sacks and retailers sell to consumers by the kilogram. In 2013, a 45-kilogram wholesale sack of
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domestic rice was sold for around $42 (around $933 per ton), but retail sales drove up the value of the sack to around $57 (around $1,267 per ton). The Post forecasts very little or no imports by Ecuador in MY 2014-15. It expects a niche export market opportunity for specialty rice varieties such as basmati, sushi-style rice, risotto, wild rice and parboiled rice. However, Ecuadorâ€&#x;s rice exports in MY 2014-15 are expected to increase by about 16% to 50,000 from 43,000 tons in MY 2013-14. Ecuador exports rice to mainly to Columbia, which accounted for 27,000 tons or about 63% of total rice exports by Ecuador in MY 2013-14. Ecuador also exported about 15,000 tons of milled rice to Cuba during the same period through a government-to-government agreement.The Ecuador government is actively promoting self-sufficiency by maintaining the Andean Price Band System (APBS) and by controlling exports and imports. The current APBS sets a floor price of $575 per tons and a ceiling of $691 per ton. The Post finds that rice imports are levied an ad valorem duty of up to 68%. However, Andean Community members are assessed a zero-tariff and are not subject to the APBS. Other Latin American countries have been granted ad-valorem tariff preferences under the Latin American Integration Association (ALADI), but they are however still assessed by the APBS variable levy. The Ministry of Agriculture authorizes both export and import permits. It also acts as the authorized exporter of existing reserves, says the Post. Tags: Ecuador rice production, Ecuador rice imports, Ecuador rice consumption
USDA Post Forecasts Colombia MY 2014-15 Paddy Rice Production to Decline to 1.86 Million Tons; Down 3% from Previous Year Mar 24, 2014
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Colombia‟s paddy rice production in MY 2014-15 (April - March) is expected to decline to around 1.86 million tons (about 1.3 million tons, basis milled), down about 3% from around 1.93 million tons (about 1.31 million tons, basis milled) in MY 2013-14, according to the USDA Post. The Post says that dry-land rice area planted may increase in MY 2014-15 due to a 12% increase in 2013 average grower prices compared to prices in 2012. However, unpredictable weather conditions along with production inefficiencies, slow technology adoption, high input costs, deficient infrastructure and the mitigation challenges of the „vanamiento‟ fungus may reduce yields in MY 2014-15, says the Post. The Post estimates Colombia‟s rice consumption in MY 2014-15 to remain at the previous year levels of around 1.56 million tons. Colombia has one of the highest per capita rice consumption in Latin America at around 41 kilograms per person per year.The Post also estimates that Colombia‟s milled rice imports in MY 2014-15 will remain at around 350,000 tons, unchanged from MY 2013-14. Colombia imports rice primarily from Ecuador, Peru and Venezuela, averaging about 85,000 tons since 2000. The 2014 Tariff Rate Quota (TRQ) for U.S. rice under the Colombia Trade Promotion Agreement (CTPA) is 86,270 tons. The first 2014 TRQ auction was held on February 3, 2014 and about 60,412 tons or about 70% of the total 2014 quota were allocated. Two more auctions will be held to allocate the remaining quota volume: one on June 5, 2014 for 12,540 tons, and another on October 18, 2014 for 13,318 tons.Colombia's rice stocks at the end of MY2013-14 are estimated at around 235,000 tons (milled equivalent) which represents close to two months of consumption. Colombia is a member of Andean Community of Nations (CAN) and applies a price band mechanism for all trading partners for all commodities. The Post expects the price band duty for rice to increase in 2014-15 based on increases in last few years. The floor price for rice in 2013-14 increased by about 14% to $575 per ton from $505 in 2012-13, while the ceiling price for rice in 2013-14 increased by about 6% to $691 per ton from $651 in 2012-13, the Post says.The Government of Colombia (GOC) is trying to control illicit trade in rice, which is estimated at around 300,000 to 500,000 tons annually. The GOC has established a special office to combat contraband trade from Ecuador and Venezuela. Tags: Colombia rice production, Colombia rice imports, Colombia rice consumption
Vietnam May Slash Rice Export Prices to Win Philippines Tender, Say Thailand
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Exporters Mar 24, 2014
The Thai Rice Exporters Association (TREA) President says that it is likely that Vietnam may drop its rice export price for 25% white rice to around $310-$320 per ton (down about 14% from the current floor price of $365 per ton) to help secure a deal to supply 800,000 tons of rice to the Philippines in a tender that is likely to be announced in a few weeks.The TREA President says that Vietnam is likely to win the Philippines‟ rice auction. The Philippines is Vietnam's traditional buyer and Vietnam is more acquainted with the details of the Philippines' auction, he says. Moreover, Vietnam has recently lost rice deals with China, Malaysia and Africa to Thailand, and is keen to win the Philippines auction, the TREA President adds. Thailand has so far not decided over adjusting its rice export prices to compete with Vietnam, the TREA President told local sources. However, he says that Thailand‟s rice exporters are struggling with low prices and lowering of rice prices by Vietnam may lead to a further decline in global rice export prices and cause losses.Last month, the Vietnam Food Association (VFA) lowered the floor price for 25% broken rice to $365 per ton, down about 3% from around $375 per ton announced in October 2013. Sources say that the Philippines is likely to seek 25% broken rice in its tender to buy around 800,000 tons of rice.While Thailand‟s rice exporters are preparing to participate in the Philippines rice auction, the National Food Authority (NFA) of the Philippines has denied receiving Thailand's application for renewal of rice supply contract with the Philippines, which expired in December 2013, as of March 18, 2014. Tags: Vietnam rice exports, Thailand rice exports, vietnam minimum rice export price, Philippines rice imports
Vietnam Exports 859,119 Tons of Rice in January 1 - March 20, 2014 Mar 24, 2014
Vietnam has exported about 859,119 tons of rice during January 1 - March 20, 2014, down about 41% from about 1.45 million tons of rice exported in first quarter of 2013, according to data from the Vietnam Food Association (VFA). Average rice export price during January 1 - March 20, 2014 stands at about $432 per ton (FOB), down about 2% from about $442 per ton recorded in January – March 2013.In March 1 -20, 2014, Vietnam exported about 223,616 tons of rice, which is down about 68% from about 706,483 tons rice exported in the full month of March 2013, and down about 32% from about 330,501 tons rice exported in February 2014. Average export price so far this month stands at around $436 per ton, down about 1% from year-ago levels, and down about 2% from February 2014. Vietnam's rice exports in March 1-20, 2014 include: 81,989 tons of 4% - 10% broken rice (about 37% of total rice exports so far in March 2014); 70,290 tons of 15% broken rice (about 31.4% of total rice exports so far in March 2014); 35,838 tons of aromatic rice (about 16% of total rice export so far in March 2014), 22,557 tons Nep or glutinous rice (about 10% of total rice exports so far in March 2014); and 12,750 tons 25% broken rice (about 5.7% of total rice exports so far in March 2014).Asia is the major rice exporting destination for Vietnam rice so far in March 2014, with about 153,887 tons or about 69% of total rice exports. The Americas is the
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second largest destination, accounting for of about 60,907 tons of rice exports (equivalent to about 27% of total rice exports so far in March). Vietnam also exported 3,100 tons of rice to Africa, about 3,071 tons of rice to the Middle East, about 2,446 tons of rice to Europe, and about 225 tons of rice to Australia so far in March 2014, VFA says. Tags: Vietnam rice exports, Vietnam Food Association (VFA)
Philippines Economists Urge Government to Abandon Mar 24, 2014
A group of economists, including former Prime Minister of the Philippines Cesar E.A. Virata, says that the Philippines government should abandon its rice sufficiency policy and stop the National Food Authority‟s monopoly on rice importation to control rice prices and reduce losses to the exchequer.The Philippines-based Foundation for Economic Freedom (FEF) says, “NFA is scheduled to import some 1,000,000 metric tons of rice this year, a blatant admission of the failure of the government‟s rice self-sufficiency policy.” The group says that the government's continuous reliance on import quotas has led to high rice prices. Moreover, the demands of the market are being met by smuggled rice, which is causing huge losses to the government, it says. The economists suggest that the food security can best be achieved through trade. The FEF also alleges that the rice imported by the National Food Authority (NFA) is being channeled to commercial markets through influential importers and is not reaching the needy. Imports by favored dealers of the NFA are leading to suspicions of graft and corruption, the group says. Arbitrary import decisions of the NFA also hurt farmer income. The group says that instead of subsidizing the NFA, the government should invest in rural infrastructure, agricultural research and development. The FEF also urged the government to abolish import quotas on rice and adhere to the commitments of the World Trade Organization (WTO).The Philippines government initially planned to import the targeted one million tons of rice this year under existing government-to-government (G-2-G) deals, but is now planning to allow other governments and private sector companies to participate in the tender. Tags: Philippines rice smuggling, Philippines rice imports, Foundation for Economic Freedom (FEF)
Rice Sufficiency Policy, Allege Corruption in NFA Rice Imports Mar 24, 2014
A group of economists, including former Prime Minister of the Philippines Cesar E.A. Virata, says that the Philippines government should abandon its rice sufficiency policy and stop the National Food Authority‟s monopoly on rice importation to control rice prices and reduce losses to the exchequer.The Philippines-based Foundation for Economic Freedom (FEF) says, “NFA is scheduled to import some 1,000,000 metric tons of rice this year, a blatant admission of the failure of the government‟s rice self-sufficiency policy.” The group says that the government's continuous reliance on import quotas has led to high rice prices. Moreover, the demands of the market are being met by smuggled rice, which is causing huge losses to the government, it says. The economists suggest that the food security can best be achieved through trade.
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The FEF also alleges that the rice imported by the National Food Authority (NFA) is being channeled to commercial markets through influential importers and is not reaching the needy. Imports by favored dealers of the NFA are leading to suspicions of graft and corruption, the group says. Arbitrary import decisions of the NFA also hurt farmer income. The group says that instead of subsidizing the NFA, the government should invest in rural infrastructure, agricultural research and development. The FEF also urged the government to abolish import quotas on rice and adhere to the commitments of the World Trade Organization (WTO).The Philippines government initially planned to import the targeted one million tons of rice this year under existing government-to-government (G-2-G) deals, but is now planning to allow other governments and private sector companies to participate in the tender. Tags: Philippines rice smuggling, Philippines rice imports, Foundation for Economic Freedom (FEF)
Oryza Global Rice Quotes March 24th, 2014 Long grain white rice - high quality Thailand 100% B grade 400-410 Vietnam 5% broken 385-395 ↓ India 5% broken 420-430 ↔ Pakistan 5% broken 400-410 ↔ Cambodia 5% broken 450-460 ↔ U.S. 4% broken 580-590 ↔ Uruguay 5% broken 620-630 ↔ Argentina 5% broken 615-625
↓
Long grain white rice - low quality Thailand 25% broken 345-355 ↓ Vietnam 25% broken 360-370 ↔ Pakistan 25% broken 355-365 ↔ Cambodia 25% broken 420-430 India 25% broken 360-370 ↔ U.S. 15% broken 555-565 ↔
↔
Long grain parboiled rice Thailand parboiled 100% stxd 400-410 Pakistan parboiled 5% broken stxd 420-430 India parboiled 5% broken stxd 405-415 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken 590-600 ↔ Uruguay parboiled 5% broken NQ ↔
↓ ↔ ↔
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Long grain fragrant rice Thailand Hommali 92% 945-955 Vietnam Jasmine 500-510 ↑ India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 885-895 ↔
↔ ↔
Brokens Thailand A1 Super 305-315 ↔ Vietnam 100% broken 340-350 Pakistan 100% broken stxd 330-340 Cambodia A1 Super 350-360 ↔ India 100% Broken stxd 300-310 Egypt medium grain brokens NQ ↔ U.S. pet food 470-480 ↔ Brazil half grain 345-355 ↔
↔ ↔ ↔
Medium grain milled U.S. Calrose 4% broken Egypt medium grain 6%
1120-1130 NQ ↔
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All prices USD per ton, FOB vessel, oryza.com
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