28th March , 2014
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TOP Contents - Tailored for YOU Latest News Headlines…
India Basmati Rice Exports Hit by Iran’s New Standards for Arsenic Contamination Oryza U.S. Rough Rice Recap – Prices Hold Steady, Despite Weak Export Sales Oryza Rice Currency Analysis for Today – Brazil Real Rallies 1.7% Italy Paddy Market Stabilizes, following Uptrend Since January Oryza Afternoon Recap – Chicago Rough Rice Futures Continue to Recover, Despite Dismal Export Sales Report; Wheat, Corn Rally Over 1.5% Nigeria Initiates Probe Into Illegal Rice Imports Via Land Borders USDA Post Estimates Brazil Rice Exports to Decline to 900,000 tons in MY 2014-15; Down 5% from Previous Year Taiwan Releases First Locally Developed Hybrid Rice Variety Oryza Overnight Recap – Chicago Rough Rice Futures Unchanged Overnight as Market Fails to Garner Any Trade Interest Drought Conditions in Peru May Increase Demand for U.S. Rice in 2014-15 Asia Rice Quotes Unchanged Today Oryza Global Rice Quotes
NEWS DETAILS: India Basmati Rice Exports Hit by Iran’s New Standards for Arsenic Contamination Mar 27, 2014
India's basmati rice exports to Iran have slumped temporarily after Iran revised the accepted level of arsenic content in basmati rice from 150 parts per million (ppm) to 120 ppm, according to local sources.Due to the change in the accepted level of arsenic, India's basmati rice exports have temporarily slumped, said the President of All India Rice Exporters Association (AIREA). He said that rice traders need time to reduce arsenic content in basmati rice, but Indian exporters do not want business with Iran to suffer.Iran is the largest importer of basmati rice and accounted for about one million tons or around 32% of India's total basmati rice exports of around 3.46 million tons in FY 2012-13 (April – March). India’s basmati rice exports to Iran have increased in the current fiscal year, reaching around 1.3 million tons in the first 10 months of FY2013-14, which is about
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42% of India's total basmati rice exports of around 3.09 million tons during the period.However, officials in Iran have raised concerns about the quality of Indian basmati rice in the last few months. In August 22013, an official Iran’s national food quarantine organization said that arsenic contamination in rice from India and Pakistan was high, but such warnings went mostly unheeded in India. However, exporters in India are now planning to send a delegation to Iran next month to sort out the issues with the Iranian authorities, the AIREA President says. Tags: Iran rice imports, India rice exports, Arsenic rice
Oryza U.S. Rough Rice Recap – Prices Hold Steady, Despite Weak Export Sales Mar 27, 2014
As of today, old crop offers could still be found as low $15.55 per cwt fob farm (about $343 per ton) for nearby shipment although offers increase to around $16.11 per cwt fob farm (about $355 per ton) for May-June shipment.Bids from larger mills increased slightly today to around $15.20 per cwt (about $335 per ton) for
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April delivery while bids for exporters could be found around $15.40-$15.65 per cwt (about $340-$345 per ton), for the same delivery period, however both of these bids remain unattractive to most sellers when smaller mills are reportedly paying between $16.00-$16.30 per cwt (about $353-$359 per ton) for prompt delivery. In the meantime, today the USDA reported that cumulative net export sales for the week ending on March 20th, totaled 7,700 tons, which was 94% lower than last week and 91% lower than the prior 4-week average. Increases were reported for the following destinations including: 3,200 tons to Mexico, 1,500 tons to Canada, 700 tons to The Dominican Republic, 400 tons to Australia, 300 tons to Singapore. There were also decreases of 100 tons reported for Bahamas. Nets sales of 2,000 tons for 2014/2015 were reported for Taiwan.U.S. rice exporters shipped 93,800 tons, which was 20% higher than the previous week and 3% higher than the prior 4week average. The primary destinations included: 47,200 tons to Mexico, 12,600 tons to Turkey, 12,500 tons Japan, 7,300 tons to Haiti, and 2,500 tons Honduras. Tags: U.S. rice prices, U.S. rice market
Oryza Rice Currency Analysis for Today – Brazil Real Rallies 1.7% Mar 27, 2014
U.S. dollar index was up +0.13% from the open today, when it traded at 80.139 at the close. Euro was weaker -0.29% by the close, trading around 1.3742 by end of day, after trading between an intraday high of 1.3797 and low of 1.3729. Thai baht was stronger +0.21%, trading at 32.499 at the close of business. Indian rupee was weaker -0.25%, closing at 60.3175. Brazilian real was +1.74% stronger at the close of trading today, trading at 2.2636 reais per dollar. Pakistan rupee was -0.09% weaker at 98.0500. Vietnamese dong was weaker -0.02% at 21003. Mexican peso was stronger +0.35% today, when it traded at 13.0822 pesos per dollar by the close of business. Chinese yuan was weaker -0.07%, trading at 6.2131. Argentine peso was stronger +0.02% at 8.0005 pesos per dollar. Tags: foreign exchange rates
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Italy Paddy Market Stabilizes, following Uptrend Since January
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The Italian rice paddy market remains stable with quotes unchanged over the last couple of weeks. There remains a large difference between quotations of domestic and export varieties, although prices of the latter are slightly increasing.Below are farm gate paddy quotes from the Milan grain exchange, as of March 25: Arborio-Volano rice is quoted 710-730 euros (about $978-1,006) per ton, unchanged from a week ago. Balilla paddy is slightly higher at 260-270 euros (about $358-372) per ton, up 10 euros (about $13) per ton since March 18. Lido and similar varieties are quoted 360-380 euros (about $ 496-523) per ton, unchanged from one week prior. Padano/Argo again has no price indications available due to low availability; more than 95% of it has already been sold. Vialone Nano is firm at 925-960 euros (about $1,274-1,323) per ton, unchanged over the last month. Thai Bonnet and similar varieties are indicated at 250-260 euros (about $344-358) per ton, unchanged from last week. Sant'Andrea is quoted 640-660 euros (about $882-909) per ton, unchanged from last week. Ariete and similar varieties are shown 410-430 euros (about $565-592) per ton, up from 365-385 euros (about $503-530) per ton of one month ago, and unchanged compared to a week prior. Baldo is quoted 620-640 euros (about $854-882) per ton, unchanged from a week and month prior. Roma is shown 640-670 euros (about $882-923) per ton; unchanged from last week. Selenio is quoted 275-295 euros (about $379-406) per ton, up from 265-285 euros (about $365-392) per ton of last week. Tags: italy paddy production, italy paddy prices
Oryza Afternoon Recap – Chicago Rough Rice Futures Continue to Recover, Despite Dismal Export Sales Report; Wheat, Corn Rally Over 1.5% Mar 27, 2014
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Chicago rough rice futures for May delivery settled 8 cents per cwt (about $2 per ton) higher at $15.470 per cwt (about $341 per ton). Rough rice futures continue to recover following Tuesday’s sharp sell-off and yesterday’s mid-session dip towards support around $15.250 per cwt (about $336 per ton). Prices managed to break through and close above two levels of technical resistance, noted at $15.400 and $15.460 per cwt (about $340 and $341 per ton), provided by the 20-day and 50-day moving averages. This is seen as a significant development as it signals that the market has returned to technically positive territory. However, the bulls were unable to overcome the key $15.500 per cwt (about $342 per ton), a level that plays psychological significance. Look for a close above this level tomorrow as a signal that prices will continue higher and likely test resistance at $15.600 per cwt (about $344 per ton) which has limited market gains over the past few weeks. The other grains finished the day mostly higher; soybeans closed about 0.2% lower at $14.3650 per bushel; wheat finished about 2% higher at $7.1050 per bushel, and corn finished the day about 1.6% higher at $4.9200 per bushel.U.S. stocks mostly slid on Thursday after mixed economic reports cast a favorable light on the labor market while also illustrating the economy expanded less than economists expected at the end of last year. After falling 77 points and rising as much as 31, The Dow Jones Industrial Average was lately down 12.94 points, or 0.1%, at 16,256.05. The S&P 500 dropped 5.77 points, or 0.3%, to 1,846.79, with energy pacing gains and financials hardest hit among its 10 major sectors. The Nasdaq Composite slid 25.53 points, or 0.6%, to 4,148.05. Gold is trading about 0.8% lower, crude oil is seen trading about 1.3% higher, and the U.S. dollar is seen trading about 0.1% higher at about 1:00pm Chicago time.Wednesday, there were 265 contracts traded, down from 544 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday increased by 1 contract to 8,048. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Nigeria Initiates Probe Into Illegal Rice Imports Via Land Borders Mar 27, 2014
The Nigerian government has initiated a probe into activities of rice importers after reports suggested that some importers ship rice to neighboring countries and then bring the rice via borders to evade high duties on rice imports in Nigeria.Nigeria has placed a ban on rice imports via borders to control rice smuggling. However, recent reports suggest that informal rice trade continues via Nigeria’s land borders. Local sources say that the government did not want to stop illegal movement of rice via Benin Republic because large traders were involved in it. However, the government says a probe will begin today and will look into the revenue losses accrued to the Federal Government due to the diversion of rice imports to the neighboring countries. The Deputy Chairman of the House Committee on Customs said the Customs Department has failed in meeting the projected revenue for 2013 fiscal year. He said that the House Committee on Customs will plug loopholes to improve the projected income for 2014, and added that Nigeria is losing about N 1 billion (around $6 million) weekly due to illegal border trade since the new rice regime was introduced by the government in the beginning of 2012.The Nigerian government plans to step up efforts to curtail losses due to rice smuggling to protect local
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farmers and is planning to ban rice imports completely by 2015. However, it will be a huge challenge for the government to ensure sufficient rice supplies in the event of a total ban, say traders. Nigeria currently imports nearly 3 million tons of milled rice annually as domestic production of about 2.7 million tons is insufficient to fulfill the country's consumption needs of about 6 million tons. Tags: Nigeria rice smuggling, nigeria rice imports
USDA Post Estimates Brazil Rice Exports to Decline to 900,000 tons in MY 2014-15; Down 5% from Previous Year
Mar 27, 2014
The USDA Post expects Brazil rice exports to drop to around 900,000 tons in MY 2014-15 (April 2015 - March 2016), down about 5% from an estimated 950,000 tons of rice exports in the previous year partly due to government’s plans to lower its rice stocks.The Post expects Brazil’s distribution of exports to shift away from Africa and the Middle East towards the Central America in MY 2014-15. Higher prices and depreciating Brazilian real in 2014 are expected to benefit the producers and exporters, says the Post. In MY 2013-14 so far, Brazil mainly exported to Nicaragua, Costa Rica and Venezuela.
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The USDA Post estimates Brazil paddy rice acreage in MY 2014-15 to decline by 20,000 hectares to 2.4 million hectares from 2.42 million hectares in MY 2013-14 due to crop rotation practices, pest infestations and possible land disputes. However, Brazil’s paddy rice production in MY 2014-15 is expected to remain at previous year's level of 12.2 million tons (about 8.3 million tons, basis milled). Brazil's rice consumption and imports in MY 2014-15 are also expected to remain at last year's level of 7.85 million tons and 750,000 tons respectively. Ethanol rice production may increase in Brazil in coming years. According to the Post, a recent deal between U.S. and Brazilian firms to trade fertilizers for ethanol is likely to increase the use of "giant rice" in the country. "Giant rice" was developed by the Government of Brazil's agricultural research service (EMBRAPA) to make rice ethanol. The deal includes the construction of 14 rice ethanol plants in Rio Grande do Sul, and the cultivation of 112,000 hectares of rice, 20% of which will be “giant rice.” The Brazilian Development Bank (BNDES) is expected to finance the deal. The Post finds that agricultural commodities got relatively less government support for commercialization and exports. MY 2013-14 rice production will not receive any government support under the Premium Equalizer Paid to the Producer (PEPRO) program or any other program. The PEPRO program pays farmers directly when commodity prices fall below a certain predetermined price. The government adjusted the formula by which the minimum price is calculated in December 2013. It is calculated as "price + transport cost – 5% = minimum price at auction" and the price varies by commodity and classification, and by region of the country. Tags: Brazil rice exports, Giant rice
Taiwan Releases First Locally Developed Hybrid Rice Variety Mar 27, 2014
The Chiayi Agricultural Experiment Station (CAES) under the Taiwan Agricultural Research Institute (TARI) has released the country's first locally developed nutritious high-yielding rice hybrid variety, "Tainung Sen
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Glutinous 24", according to local sources.The new rice variety belongs to indica strain of purple sticky rice, and was first developed in 2011 by crossing local rice strains with black sticky rice from Thailand. The hybrid cultivar was recognized by the Committee of Registration for New Plant Variety of the TARI under the ROC Council of Agriculture last year."Tainung Sen Glutinous 24" has relatively good resistance to rice blast and the brown planthopper, and does not require more of pesticides, according to the CAES Director. He says that the new variety could produce 11.09 tons of rice per hectare, compared to 9.3 tons per hectare from regular sticky varieties. The annual income from the new variety is estimated at NT$410,000 (around $13,419) per hectare compared to NT$230,000 (around $7,528) per hectare from regular sticky varieties.The new rice is also rich in calcium, chlorine, copper, iron, manganese, potassium and sodium; vitamins A and E; polyphenols and folic acid, claims the CAES Director. He adds that the husk of the new variety is a rich source of antioxidant anthocyanin which can be used to make health products or as a food additive, creating additional commercial opportunities. However, the Director said that the new variety would be grown in a restricted area to prevent it from mixing with other strains and from being used for unauthorized purposes.Taiwan is a net importer of rice. According to the USDA, Taiwan rice production is estimated at about 1.16 million tons in MY 2013-14, against a consumption of around 1.28 million tons. Rice imports by Taiwan are estimated at around 126,000 tons in MY 2013-14. Tags: Taiwan rice production, Tainung Sen Glutinous 24, Taiwan Agricultural Research Institute (TARI)
Oryza Overnight Recap – Chicago Rough Rice Futures Unchanged Overnight as Market Fails to Garner Any Trade Interest Mar 27, 2014
Chicago rough rice futures for May delivery are currently paused unchanged overnight at $15.390 per cwt (about $339 per ton) as of 8:00am Chicago time. The other grains are seen higher this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.2% higher, wheat was paused about 0.6% lower, and corn is noted about 0.3% higher.U.S. stock index futures signaled a steady to lower start to Wall Street trade on Thursday, after the government reported the nation's economy expanded more quickly than previously estimated in the final quarter of 2013 and fewer Americans than forecast filed for unemployment benefits last week. The Commerce Department reported gross domestic product grew 2.6 percent in the final three months of last year, better than the 2.4 percent rate projected in February. Separately, numbers from the Labor Department had jobless claims falling by 10,000 to 3111,000, a level that has it at a near four-month low. Reports later in the session include pending-home sales for February and natural-gas inventories. U.S. stock index futures are currently trading marginally lower, gold is currently trading about 0.4% lower, crude oil is seen trading about 1.1% higher, and the U.S. dollar is currently trading about 0.1% higher at 8:00am Chicago time. Tags: chicago rough rice futures
Drought Conditions in Peru May Increase Demand for U.S. Rice in 2014-15 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
Mar 27, 2014
Drought conditions in the Piura and Lambayeque provinces in Northern Peru may lead to a decline in rice production by up to 40% (about 800,000 tons) in Peru in 2014-15, which will increase the country’s reliance on rice imports from the U.S, according to local sources.Trade sources say that current wholesale prices for domestic milled rice in Peru are around $880 per ton for 5% broken rice and $850 per ton 10% broken rice, while the price of rice imported from the U.S is around $600 per ton for long grain 2.4% rice. Peru is likely to consider the U.S. rice given its price, quality and cooking characteristics.The U.S. currently accounts for less than 1% of Peru's total rice imports. Peru usually imports most of its rice from Uruguay, Brazil, Thailand and Argentina. In 2013, Peru imported 176,285 tons of rice, of which 80% was from Uruguay, about 9% from Brazil, about 5% from Argentina and about 2% was from Thailand. Currently, the U.S. cannot export paddy rice to Peru due to a pending phyto-sanitary protocol. However, local sources say that the U.S. Rice Federation representatives are negotiating with the National Service of Agrarian Health of Peru (SENASA) and the ban could be lifted by the end of 2014.According to the USDA, Peru is expected to produce 2.1 million tons of milled rice in MY 2014-15 (April - March), down by about 3% from 2.16 million tons in MY 2013-14. It expects Peru to import 240,000 tons of rice in MY 2014-15, up about 9% from 220,000 tons in the previous year. The country's rice consumption needs are estimated at 2.35 million tons. Tags: Peru rice production, Peru rice imports, U.S. Rice exports
Asia Rice Quotes Unchanged Today Mar 27, 2014
Asia rice sellers kept their quotes mostly unchanged today. 5% Broken Rice Thai 5% rice (of new crop) is quoted around $375 - $385 per ton, about a $5 per ton discount to Viet 5% rice shown around $380 - $390 per ton. Indian 5% rice is quoted around $425 - $435 per ton, about a $20 per ton premium over Pak 5% rice quoted around $405 - $415 per ton. 25% Broken Rice Thai 25% rice of the old crop is quoted about $345 - $355 per ton, about a $5 per ton discount to Viet 25% rice shown around $350 - $360 per ton. Indian 25% rice is quoted around $365 - $375 per ton, about a $10 per ton premium over Pak 25% rice quoted around $355 - $365 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $400 - $410 per ton. Indian parboiled rice is quoted around $410 - $420 per ton, about a $10 per ton discount to Pak parboiled rice last quoted around $420 - $430 per ton. 100% Broken Rice Thai broken rice, A1 Super, of the old crop is quoted around $305 - $315 per ton, about a $30 per ton discount to Viet broken rice shown around $335 - $345 per ton.
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Indian broken sortexed rice is quoted around $305 - $315 per ton, up about $5 per ton about a $25 per ton discount to Pak broken sortexed rice quoted around $330 - $340 per ton. Tags: Asia rice quotes, Thailand rice quotes, Vietnam rice quotes, Pakistan rice quotes, India rice quotes
Oryza Global Rice Quotes March 27th, 2014 Long grain white rice - high quality Thailand 100% B grade 390-400 Vietnam 5% broken 380-390 ↔ India 5% broken 425-435 ↔ Pakistan 5% broken 405-415 ↔ 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 350-360 ↔ Pakistan 25% broken 355-365 ↔ Cambodia 25% broken 420-430 India 25% broken 365-375 ↔ U.S. 15% broken 555-565 ↔
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Long grain parboiled rice Thailand parboiled 100% stxd 400-410 Pakistan parboiled 5% broken stxd 420-430 India parboiled 5% broken stxd 410-420 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken 590-600 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 940-950 Vietnam Jasmine 495-505 ↔ India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 885-895 ↔
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Brokens Thailand A1 Super 305-315 ↔ Vietnam 100% broken 335-345 Pakistan 100% broken stxd 330-340 Cambodia A1 Super 350-360 ↔ India 100% Broken stxd 305-315 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%
1070-1080 NQ ↔
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All prices USD per ton, FOB vessel, oryza.com
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