25th September, 2014
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Bulog President Confirms Indonesia Imported 425,000 Tons of Rice from Thailand and Vietnam Year-to-Date India Rice Exports to LDCs Increase 23 Fold Between 2009-13 to $1.8 Billion, Says USDA Ghana Losing $22.5 Million Annually Due to Ban on Inland Rice Importation, Says Advisor on Rice Production On the Road with Rice Husks Oryza Afternoon Recap - Chicago Rough Rice Futures Continue Higher as They Look to Test Technical Resistance at $12.800 Oryza U.S. Rough Rice Recap - Farm Gate Prices Hold as CIF NOLA Price Jumps Oryza Overnight Recap - Chicago Rough Rice Futures Continue Higher as Technicals Turn Supportive of Higher Prices Rice Imports Biggest Burden for West African Countries Philippines Customs Seizes 1,250 Tons of Illegally Imported Thai White Rice Three Spanish Rice Regions Awarded Protection Oryza U.S. Rough Rice Recap - Uneventful Market with All Eyes on Iraqi Tender Using Immigration to Boost the Rice Sector: A Double Edged Sword UTCC Study Calls for Revamp of Thai Rice Sector to Retain Share in Global Export Market Global Rice Quotes
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Bulog President Confirms Indonesia Imported 425,000 Tons of Rice from Thailand and Vietnam Year-to-Date Sep 24, 2014
Indonesia has imported around 425,000 tons of rice so far in 2014 from Thailand and Vietnam to build up stockpiles and to stabilize domestic prices, according to Bloomberg.The total import tonnage was confirmed by the President of Indonesia's state buying agency Bulog. The imports include a total of 250,000 tons of rice (recently purchased 200,000 tons and 50,000 tons purchased in August) from Vietnam and 175,000 tons of rice
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purchased from Thailand.The government instructed BULOG to import about 250,000 - 500,000 tons of rice this year after the Central Statistics Agency (BPS) has estimated Indonesia's paddy rice production in 2014 to decline to around 69.8 million tons, down about 2% from an estimated 71.28 million tons 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 2014. It estimates 2014 Indonesia's rice imports to more than double from around 650,000 tons in 2013, while 2014 production is expected to decline by about 1.5% from 36.55 million tons 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 imports, Bulog, Central Statistics Agency (BPS)
India Rice Exports to LDCs Increase 23 Fold Between 2009-13 to $1.8 Billion, Says USDA Sep 24, 2014
India's rice exports to the least developed countries (LDCs) have increased about 23 times from around $78 million in 2009 to around $1.8 billion in 2013, according to a report from USDA.India mainly exports rice to LDCs including Bangladesh, Benin, Liberia, Senegal, Nepal, Yemen and Sub-Saharan Africa. Most of the
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LDCs have recorded rapid increase in rice imports from India due to the price competitiveness. For the past couple of years, Benin's rice imports from India have surged tremendously due to large-scale illegal imports from neighboring Nigeria after the Nigerian government slapped import duties of 110% on rice imports. Many illegal traders reportedly diverted ships to Benin, where the import duty is just 10% and transported the same rice to Nigeria through land borders. Similarly, Senegal also increased its imports from India significantly. The table below shows Indian rice exports in terms of value to LDCs between 2009 and 2013.According to USDA, most of the LDCs that import Indian rice have suffered in the past due to sudden and frequent rice export bans by India to control internal prices. Such exports restrictions by rice exporting countries will lead to surge in global rice prices, says USDA. For instance, export restrictions by major global rice exporters, including India, in 2007 led to record global prices in 2007 and 2008.India's total agricultural exports to LDCs increased to around $39 billion in 2013, about 7 times more than $5 billion in 2003; and increased about 314% between 2009-13. Tags: India rice exports to LDCs, India rice exports, USDA
Ghana Losing $22.5 Million Annually Due to Ban on Inland Rice Importation, Says Advisor on Rice Production Sep 24, 2014
The Ghanaian government is losing about GH Cedi 76.8 million (around $22.5 million) annually due to the continuing ban on inland rice importation, a Special Advisor for Local Rice Production was quoted as saying.The Special Advisor criticized the decision of Ministry of Trade and Industry to ban inland rice importation saying the government is losing out heavily on the revenue paid by the small scale rice importers at the inland entry ports on the "bring in as you pay basis."
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He told local news sources that he fully supports the government's efforts to increase rice production in the country and cut down on imports. He noted that until the country attains self-sufficiency in rice production, the government has to depend on rice imports. He also urged the government to lift the ban on inland rice importation and support local traders while considering the revenue collected to the state coffers.The Special Advisor made these comments after the Small Scale Rice Dealers Association (SSRIDA) accused him of conniving with the officials of the Trade Ministry and the Ministry of Food and Agriculture to enforce ban on inland rice importation. Ghana imposed ban on inland rice importation in November 2013 and said it would allow rice imports only through the Kotoka International Airport (KIA), and Tema and Takoradi ports to restrict rice smuggling and ensure that imported rice is levied with the proper import duties and taxes. Earlier this year, the members of Greater Accra Market Association (GAMA) also urged the government to reconsider the ban on inland rice importation as it was leading to increase in rice prices and was favoring foreign businessmen at the expense of local entrepreneurs.However, the government officials are also concerned of the difficulties faced in collecting revenue on cross border trades since the border is very long and porous. 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. According to the USDA, Ghana’s rice production is estimated at about 352,000 tons (milled basis) in MY 201314 (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 imports, Ghana ban on inland rice imports, Small Scale Rice Dealers Association (SSRIDA), Accra Market Association (GAMA)
On the Road with Rice Husks Sep 24, 2014
A global tire manufacturer is seeking out productive uses for rice husk waste. Often destined for landfills, rice husk waste can be burned and the resulting ash can produce electricity that is an environmentally-friendly source of silica for use in rubber tires. The environmental benefits are two-fold: the resulting ash provides an alternative, “green� energy source, and burning the husks keeps more of them out of landfills in the first place.
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The company has been testing silica derived from rice husk ash for the past two years, and it says this plantbased source has no negative impacts on tire performance. Silica is used in tires to increase the rubber’s strength and help reduce rolling resistance, in turn improving fuel economy. Many manufacturing companies are looking to improve their environmental-friendliness by using renewable resources, such as soybean oil, and revamping their manufacturing processes. Tags: Rice husk, Rice husks, Rice husk flour, silica, tires, rubber, environment, green, landfills
Oryza Afternoon Recap - Chicago Rough Rice Futures Continue Higher as They Look to Test Technical Resistance at $12.800 Sep 24, 2014
Chicago rough rice futures for Nov delivery settled 7 cents per cwt (about $2 per ton) higher at $12.730 per cwt (about $281 per ton). Rough rice futures added to gains earned yesterday, erasing double digit losses sustained on Monday and placing the market within striking distance of overhead resistance noted around $12.800 per cwt (about $282 per ton). A close above this level could trigger aggressive short covering on the part of large specs who have continued to build a bearish position against the market, which could ultimately see prices rally to test firm psychological resistance at $13.000 per cwt (about $287 per ton). The other grains managed to pull off gains after getting to a shaky start this morning; soybeans closed a touch higher at $9.3675 per bushel; wheat finished about 0.9% higher at $4.8025 per bushel, and corn finished the day about 1.2% higher at $3.2950 per bushel.U.S. stocks rallied on Wednesday, with the S&P 500 halting losses after a three-day slide pushed it to a five-week low, with an upbeat report on new-home sales helping offset a weak reading on existing-home sales earlier in the week. Stocks had wavered after the Commerce Department reported new-home sales rose 18% to 504,000 units in August after a 1.9% gain in July. Existing-home sales declined in August for the first time in four months. The Dow Jones Industrial Average shifted higher, lately up 91.58 points, or 0.5%, to 17,147.45. The S&P 500 added 10.06 points, or 0.5%, to 1,992.83, with health care and consumer staples the best performing and energy the hardest hit of its 10 major sectors. The Nasdaq added 32.39 points, or 0.7%, to 4,541.22. Gold is trading about 0.3% lower, crude oil is seen trading about 0.4% higher, and the U.S. dollar is seen trading about 0.4%
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higher at about 1:00pm Chicago time.Tuesday, there were 312 contracts traded, up from 174 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday fell by 29 contracts to 9,104. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Oryza U.S. Rough Rice Recap - Farm Gate Prices Hold as CIF NOLA Price Jumps Sep 24, 2014
Cash prices in the U.S. south continue to hold fairly steady at the farm gate today; however, CIF NOLA offers are increasing steadily in October due to skyrocketing barge freight rates. Analysts expect that if this trend continues and barge rates remain elevated, export demand will likely decrease in the near term until prices improve. As of today, offers were unchanged around $13.00-$13.33 per cwt fob farm (about $287-$294 per ton) while bids held steady near $13.00-$13.50 per cwt (about $287-$298 per ton); however, prices were slightly better for immediate shipment. Tags: U.S. rice prices, U.S. rice market
Oryza Overnight Recap - Chicago Rough Rice Futures Continue Higher as Technicals Turn Supportive of Higher Prices Sep 24, 2014
Chicago rough rice futures for Nov delivery are seen 7 cents per cwt (about $2 per ton) higher at $12.730 per cwt (about $281 per ton) during early floor trading in Chicago. The other grains are seen mixed this morning: soybeans are currently seen 0.1% lower, wheat is listed about 1.1% higher and corn is noted about 0.1% higher. U.S. stocks were little changed on Wednesday; with the S&P 500 fluctuating after a three-day slide pushed it to a five-week low, after a report on new-home sales. The Commerce Department reported new-home sales rose 18% to 504,000 units in August after a 1.9% gain in July.
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European Central Bank President Mario Draghi bolstered market sentiment by reiterating his vow to keep monetary policy loose for an extended period in the hopes of lifting inflation in the euro zone nearer to 2%. The Dow Jones Industrial Average turned lower, lately down 6.26 points at 17,049.61. The S&P 500 shed nearly 2 points, or 0.1%, to 1,981.31, with health care the best performing of its 10 major sectors. The Nasdaq added a point to 4,509.82. Gold is currently trading about 0.4% lower, crude oil is seen trading about 0.3% lower, and the U.S. dollar is currently trading about 0.4% higher at 9:30am Chicago time. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Rice Imports Biggest Burden for West African Countries Sep 24, 2014
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Asian countries like the Philippines are very vocal about their dependence on rice imports and the burden it places on their trade balance. But when we look at how much of countries’ trade expenditures go towards purchasing imported rice, it is mostly West African countries which see rice imports making up the most sizable proportion of their trade expenditures. It is therefore no wonder that most of the governments in this region reacted the way they did with promoting rice self sufficiency after the 2008 rice crisis when international rice prices more than doubled in the space of less than a year. The table below lists the countries whose rice import bill was 2% or more of their total import bill in 2011. Out of the 18 countries, 10 of them are West African countries. Madagascar and Mozambique are the only other African countries in the list, while Bangladesh is the only South Asian country. Yemen, one of the poorest countries in the Middle East is also on the list, and the other countries are Papua New Guinea and small Pacific Islands. Forecasts of increased rice consumption and population growth rates in most of these countries, particularly the African countries, suggest that the rice import bill will grow in significance in the future. Tags: Rice imports, import bill, West Africa, Adam John
Philippines Customs Seizes 1,250 Tons of Illegally Imported Thai White Rice Sep 24, 2014
The Bureau of Customs (BOC) of the Philippines has seized about 1,250 tons of illegally imported Thai rice, according to a statement by the Department of Finance (DF) on its website.The rice that arrived at the Manila International Container Port from Bangkok on June 2, 2014 lacked requisite import permits by the National Food Authority (NFA). The rice valuing about P50 million (around $1.12 million) has been stocked in 25,000 50-kilogram bags.The DF statement noted that under the Presidential Decree 4 and Republic Act 7178 or the Agricultural Tariffication Act, only the
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NFA can import rice or private entities intending to import rice must secure a permit from the agency. According to the USDA, due to lesser rice imports in 2012, unofficial imports have increased significantly in 2013. However, USDA estimates unofficial imports to decline in 2014 following government’s huge importation plan. The Customs Commissioner is very keen on prohibiting illegal rice imports into the country. The government has also taken several measures last year to cut down unofficial rice imports as the prices of locally produced rice were severely affected thereby impacting farmers' incomes. Recently, the Philippines government has decided to increase rice imports under the Minimum Access Volume (MAV) quota to 805,000 tons from the existing 350,000 tons, following the World Trade Organization (WTO) approval to continue quantitative restrictions (QRs) on rice until June 2017. While rice imports that fall under the MAV quota would attract a tariff of 40%, those above the quota would attract a tariff of 50% and would need a prior clearance from the National Food Authority (NFA).USDA estimates the Philippines to import around 1.45 million tons of rice in 2014, including 250,000 tons of unofficial imports. Tags: Philippines unofficial rice imports, bureau of customs (BoC), Philippines rice imports
Three Spanish Rice Regions Awarded Protection Sep 24, 2014
Rice is a crucial ingredient in Spanish kitchens and even in the Spanish culture, so it’s no surprise that three different areas in Spain have earned a Protected Denomination of Origin (PDO) from Europe: Calasparra D.O., Valencia D.O., and Arroz Delta del Ebro D.O.These three designations refer to different varieties of rice. The Calasparra D.O. includes arroz Sollana and arroz Bomba, the best variety for cooking paella. The name comes from the town of Calasparra, situated in a mountainous region in the Spanish province of Murcia. It is located near the junction of a couple of rivers so there is no shortage of water, and rice has been grown there on the “arrozales” along the river Rio Segura since the 14th century. The Valencia D.O. includes the Fonsa, Gleva, Bahia, Senia, and Bomba varieties. Valencia is the birthplace of paella, one of the most famous Spanish rice dishes. In the 8th century the Moors started the cultivation of rice there, and they left it as a heritage after the “Reconquista” by the Catholic Spanish King Ferdinand and Queen Isabel ended in 1492. They introduced a variety with a short, thick grain with high absorption capacity, making it very suitable for risottos and paellas.The Arroz Delta del Ebro D.O. includes the following varieties: Bahia, Tebre, Gleva, Fonsa, Bomba, and Montsianell. The Ebre Delta is one of the largest wetlands in the western
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Mediterranean region. This area has been drained for agricultural use over the years, and rice has been growing in this region for centuries.All of these varieties of rice are important in Spanish cuisine and each has a different use. A true rice connoisseur knows which rice to use and when! Tags: Protected denomination of origin, PDO, paella, Spanish culture, Spanish food, Moors, Ebre Delta, Calasparra, Valencia
Oryza U.S. Rough Rice Recap - Uneventful Market with All Eyes on Iraqi Tender Sep 23, 2014
The U.S. cash market was fairly uneventful today with many in the industry waiting to see the results of the latest Iraqi tender. Analysts contend that if the U.S. could get a piece of that business it would be the proverbial shot in the arm that the market needs for prices to move higher. As of today, offers were unchanged around $13.00-$13.33 per cwt fob farm (about $287-$294 per ton) while bids were seen slightly firmer near $13.00-$13.50 per cwt (about $287-$298 per ton); however, prices were firmer for immediate shipment. Tags: U.S. rice prices, U.S. rice market
Using Immigration to Boost the Rice Sector: A Double Edged Sword Sep 24, 2014
It has been suggested from the private sector that African countries aiming to develop their domestic rice sectors should encourage the immigration of Asian citizens with experience in rice cultivation to their countries. They point to the importance of Chinese immigrants to the development of Thailand’s competitiveness in international rice markets since the 19th century. However, history provides us with another case study where encouraged immigration for the purpose of developing the Burmese rice sector ended in a terrible fate for most of the immigrants as well as a stagnant rice sector.
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Before the colonization of Burma by the British rice exports were banned therefore there was little incentive for rice farmers to grow a rice surplus. But with the complete colonization of the country, the British colonial administration moved quickly to turn Burma into the largest rice exporter in the world. It lifted the export ban, encouraged British trading companies to operate in the country, but perhaps most importantly of all, encouraged immigrants from India to emigrate to Burma. The new immigrants not only made up the backbone of the colonial administration of Burma but Indian moneylenders provided the capital for agricultural expansion in the largely untouched deltas of the country. By 1900, Burma had become the dominate rice exporting nation as it had logistical advantages over its competitors in Thailand and Indochina to the large South Asian rice consumer markets. At its peak in 1940, Burma was exporting 3 million tons of milled rice. The Second World War certainly had a dramatic effect of Burma’s rice industry. Between 1941 and 1944, rice production dropped from 7.7 million tons to 2.5 million tons. The Japanese invasion also led to half a million of the Burmese Indian population to flee the country. But, tensions between the Burmese and Burmese Indian population were already showing two decades earlier. It was largely the trading companies and moneylenders who benefited from Burma’s expanding rice industry. Many Burmese rice farmers became heavily in debt to the moneylenders in order to pay for seed and other inputs which the moneylenders tended to supply also. In a lot of cases, farmers could not pay off the debt and lost their land so moneylenders became the landlords while the farmers became tenants instead. This contributed to fuelling racial animosity towards the Indian community. Racial tensions worsened further still in the 1930s, when international rice prices began to fall due to the world economic recession during the 1930s, as Indian moneylenders began to foreclose on land held by Burmese rice farmers. After Independence, forced expulsions of the India Burmese population by the government occurred throughout the 1960s, 70s and 80s to such an extent that the Indian Burmese population has now fallen from 16% before the Second World War to less than 2%. Meanwhile, with the added pressure of a general fall in real international rice prices between the 1960s to the end of the 20th century, Burma lost its position as a major rice exporter. History shows that immigration can have an immediate impact on developing industrial sectors such as the rice industry but you may just be opening up Pandora’s Box, especially if widespread poverty already exists amongst the a country’s existing population. Adam John Tags: Immigration, Rice exports, Burma
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UTCC Study Calls for Revamp of Thai Rice Sector to Retain Share in Global Export Market Sep 24, 2014
A study by the University of the Thai Chamber of Commerce's (UTCC) International Trade Studies (ITS) Center has called for an urgent revamp of the Thai rice sector in order to retain its share in the global rice market, according to local sources.The study found that between 2004 and 2013, there has been tremendous increase in production costs, yields but a decline in average profit of rice farmers. The average production cost increased more than doubled to around 10,685 Baht (around $331) per ton in 2013 from around 4,835 Baht (around $150) per ton in 2004. Though the price of rice increased to around $11,187 Baht (around $346) per ton in 2013 from around 6,741 Baht (around $209) per ton in 2004, average profit to farmers declined to around 502 Baht (around $15.5) per ton in 2013 from around 1,906 Baht (around $59) per ton in 2004 due to increase in production costs. The average yield per hectare from both main crop and second crop did not increase considerably during the 2004-13 period, says the study. According to the study, between 2004-13, the average yield from the main crop remained relatively stable at around 1.055 tons per hectare and average yield from the second crop remained at around 1.66 tons per hectare. The Head of the UTCC-ITS suggested that there is an urgent need to launch a long-term plan for rice production and marketing. He noted that the government should subsidize farmers' production costs by at least 20%, which would help them increase their income from the current 1,250 Baht (around $39) per hectare to something in the region of 5,000-7,500 Baht (around $155 - $232) per hectare, he said. He called on the government authorities and the private sector to come together and frame policies for developing rice farming and marketing to increase the export competitiveness of Thai rice on a global front. He also suggested that a common overseas marketing team involving representatives from government agencies and exporters should be formed to promote Thai rice internationally.
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The Study warned that unless the Thai rice sector is revamped, the Thai rice export value could fall significantly in the next decade given increasing exports from Vietnam, Cambodia and Myanmar. Tags: Thai rice sector, Thai rice yield, Thai rice production, Thai rice exports, University of the Thai Chamber of Commerce (UTCC)
Global Rice Quotes September 25th, 2014 Long grain white rice - high quality
Thailand 100% B grade 450-460
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Vietnam 5% broken
440-450
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India 5% broken
425-435
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Pakistan 5% broken
405-415
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Cambodia 5% broken
465-475
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U.S. 4% broken 525-535
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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
↔
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Pakistan 25% broken
360-370
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Cambodia 25% broken 450-460
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India 25% broken
380-390
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U.S. 15% broken
515-525
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Long grain parboiled rice Thailand parboiled 100% stxd 435-445 ↑ 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
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↔ ↔ ↔ ↔ ↔
Brokens Thailand A1 Super NQ ↔ Vietnam 100% broken 335-345 ↔ Pakistan 100% broken stxd 325-335 Cambodia A1 Super 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
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