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TOP Contents - Tailored for YOU Latest News Headlines…
Oryza U.S. Rough Rice Recap - Hand-to-Mouth Buyers Support Market as Futures Sink Oryza Rice Currency Analysis for Today – Currencies Little Changed Do You Have a Particular Preference for the Type of Rice You Eat? The Senegalese Certainly Do. Oryza Afternoon Recap - Chicago Rough Rice Dips below $15.00 before Recovering in Afternoon Trading World Hunger Day Special: Snapshot of 3000 Rice Genomes Project Published Thailand Rice Sellers Increase Some of Their Quotes; Other Asia Rice Quotes Unchanged Today USDA Post Estimates Afghanistan to Import 170,000 Tons Rice in MY 2014-15, Up 6% from Last Year FAO Estimates Malaysia Paddy Rice Production at Record 2.7 Million Tons in 2014, Up 3% from Last Year USDA Post Estimates Russia 2014 Rice Exports to Increase to 200,000 Tons, Up 67% from Last Year Vietnam to Remove Minimum Export Price for Rice Italy Rice Exports to Non-EU Countries Increase to 92,264 Tons in September 1, 2013 - May 20, 2014; Up 10% from Last Year IRRI’s Swarna-SUB1, the Hot ‘App’ Spurring Second Green Revolution Latest Research Sounds Death Knell to Killer Rice Fungus Oryza Overnight Recap - Chicago Rough Rice Futures Remain Under Pressure as July Contract Reduces Premium to September
News Detail… Oryza U.S. Rough Rice Recap - Hand-to-Mouth Buyers Support Market as Futures Sink May 28, 2014
The U.S. cash market continues to hold steady despite weakness in the futures market as hand to mouth buyers who need supplies support the market by picking up small lots at levels near seller price ideas.As of today, old crop offers were firm at $16.33 per cwt fob farm (about $360 per ton) for June shipment; however, price ideas increased to around $16.66 per cwt fob farm (about $367 per ton) for July and August shipment.Bids from most larger mills decreased to around $14.80 per cwt (about $326 per ton) for June delivery while bids for exporters were unchanged near $16.00 per cwt (about $353 per ton), for the same delivery period; however no trades were reported.
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Oryza Rice Currency Analysis for Today – Currencies Little Changed May 28, 2014
U.S. dollar index was up +0.26% from the open today, when it traded at 80.560 at the close. Euro was weaker -0.28% by the close, trading around 1.3596 by end of day, after trading between an intraday high of 1.3638 and low of 1.3635. Thai baht was weaker -0.20%, trading at 32.686 at the close of business. Indian rupee was stronger +0.20% at 58.9275. Brazilian real was stronger +0.15% at the close of trading today, trading at 2.2349 reais per dollar. Pakistan rupee was +0.01% stronger at 98.7420. Vietnamese dong was -0.09% weaker at 21165. Mexican peso was weaker -0.10% today, when it traded at 12.8689 pesos per dollar by the close of business. Chinese yuan was weaker -0.12% at 6.2553. Argentine peso was weaker -0.05% at 8.0743 pesos per dollar. Tags: foreign exchange rates, rice currencies, Global rice trade
Do You Have a Particular Preference for the Type of Rice You Eat? The Senegalese Certainly Do. May 28, 2014
When you think of rice eating nations, Senegal perhaps isn’t the first country that comes to mind. Traditionally, Senegal like most other countries in the dry Sahel region of Africa depended on local grains like millet and sorghum which tend to grow better in drier climates. However, the Senegalese eat more rice on average than the Chinese and its one of the world’s largest rice importers.The type of rice the Senegalese like depends on what part of the country they’re from. Rice has traditionally been grown in the north and south of the country and in those regions people are used to eating local rice varieties. However, in the big cities like Dakar most people wouldn’t dream of eating local rice.
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Instead, they have a taste for imported Asian rice, but not any Asian rice type. They have a preference for fragrant broken rice. This goes back to colonial times when in order to reduce tensions between the French colonial power and the local urban population, low quality Thai rice was imported in to keep local food prices low. This legacy in Senegal lives on until today.Promoting rice self sufficiency in Senegal is a hot topic but such a goal seems to be out of reach despite hundreds of millions of dollars being spent on subsidizing local rice farmers to boost domestic production. A problem with this goal is that even if Senegal was able to produce enough rice to feed its people, the chances are that many people in the cities wouldn’t want to buy it since they prefer imported rice.Researchers have come up with a perhaps obvious but nonetheless innovative way to deal this problem - grow fragrant rice instead to satisfy the urban preference. The Africa Rice Center has introduced three fragrant rice varieties suitable for growing in the north of the country and market research suggests that these varieties are going down a treat with the urbanites in Dakar. Tags: Senegal, rice preference, Africa Rice Center, Africa rice imports
Oryza Afternoon Recap - Chicago Rough Rice Dips below $15.00 before Recovering in Afternoon Trading May 28, 2014
Chicago rough rice futures for Jul delivery settled 4 cents per cwt (about $1 per ton) lower at $15.050 per cwt (about $332 per ton). Rough rice futures charted a big reversal today, following an initial drop to a contract low of $14.950 per cwt (about $330 per ton). Although prices finished lower on the day, the market's ability to rebound in afternoon trading is seen as a positive development and could be a signal that a near-term low has been put in place and indicate a change in price direction. On the other hand a further lower and ultimately a close below $15.000 per cwt (about $331 per ton) would be seen as a confirmation of the current bearish trend and indicate a continuation lower. The other grains finished the day mostly higher; soybeans closed about 0.6% higher at $14.9775 per bushel; wheat about 0.4% lower at $6.3975 per bushel, and corn finished the day about 0.6% higher at $4.7250 per bushel.U.S. stocks wavered on Wednesday after the S&P 500's record close the prior session, with investors skittish as benchmark Treasury yields fell to lows not seen since last summer. The 10-year U.S. Treasury yield fell 7 basis points to 2.448%, after dropping to 2.439% its lowest since last summer. The Dow Jones Industrial Average shed 13.25 points, or 0.1%, to 16,662.25. The S&P 500 rose to an intraday record of 1,913.64, and lately held at 1,913.16, up 1.25 point, or less than 0.1%. Financials performed the worst and telecommunications the best among its 10 major industry groups. The Nasdaq fell 1.66 point to 4,235.41. Gold is trading about 0.5% lower, crude oil is seen trading about 0.6% lower, and the U.S. dollar is seen trading
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about 0.3% higher at about 1:00pm Chicago time. Tuesday, there were 1,428 contracts traded, down from 380 contracts traded on Friday. Open interest – the number of contracts outstanding – on Tuesday decreased by 113 contracts to 8,106. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
World Hunger Day Special: Snapshot of 3000 Rice Genomes Project Published May 28, 2014
GigaScience, the open-access, open-data journal, announced the publication of an article on the genome sequencing of 3000 rice strains to coincide with World Hunger Day on May 28. The primary goal of the project is to develop resources to improve global food security in poor areas of the world.This published work is the stage one of the 3000 Rice Genomes Project, a collaborative effort made up of the Chinese Academy of Agricultural Sciences (CAAS), the International Rice Research Institute (IRRI), and BGI, and is funded by the Bill and Melinda Gates Foundation and the Chinese Ministry of Science and Technology.The 3000 Rice Genomes Project creates and disburses an extensive amount of genetic information that can used for intelligent breeding practices. The project is part of an ongoing effort to provide resources for poor farmers in Africa and Asia with an aim to reach at least 20 million rice farmers in 16 countries.The collaborative initiative has just released 13.4 terabytes of data besides collecting seeds from each strain available at the International Rice Genebank Collection in IRRI). These seeds are essential to make use of the genetically defined strains to develop and sustain the most appropriate hybrid strains for different environments.This information allows researchers to directly link the genetic information to the physical traits of different rice strains. Knowledge of the plants’ genetic makeup helps researchers and breeders to make informed choices in strain selection. This results in accurate and rapid development of rice strains that are superior in quality and suited to different agricultural environments. IRRI director general Dr. Robert Zeigler said the project will help breeding programs to overcome key hurdles that mankind faces in the future.
Thailand Rice Sellers Increase Some of Their Quotes; Other Asia Rice Quotes Unchanged Today May 28, 2014
Thailand rice sellers increased their quotes for parboiled rice by about $5 per ton to about $410 - $420 per ton today. Other Asia rice sellers kept their quotes mostly unchanged. 5% Broken Rice
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Thai 5% rice (of new crop) is quoted around $370 - $380 per ton, about $30 per ton discount to Viet 5% rice shown around $400 - $410 per ton. Indian 5% rice is quoted around $425 - $435 per ton, on par with Pak 5% rice quoted around $425 - $435 per ton. 25% Broken Rice Thai 25% rice of the old crop is quoted about $340 - $350 per ton, about a $20 per ton discount to Viet 25% rice shown around $360 - $370 per ton. Indian 25% rice is quoted around $385 - $395 per ton, on par with Pak 25% quoted around $385 - $395 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $410 - $420 per ton, up about $5 per ton from yesterday. Indian parboiled rice is quoted around $400 - $410 per ton, about $35 per ton discount to Pak parboiled rice quoted around $435 - $445 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. Indian broken sortexed rice is quoted around $310 - $320 per ton, about a $20 per ton discount to Pak broken sortexed rice quoted around $330 - $340 per ton. Tags: Asia rice quotes, India rice quotes, Pakistan rice quotes, Thailand rice quotes, Vietnam rice quotes
USDA Post Estimates Afghanistan to Import 170,000 Tons Rice in MY 2014-15, Up 6% from Last Year May 28, 2014
USDA Post in Kabul has estimated Afghanistan to import about 170,000 tons in MY 2014-15 (October 2014 September 2015) , up about 6% from an estimated 160,000 tons in MY 2013-14 due to increase in consumption, based on inputs from the Ministry of Agriculture, Irrigation and Livestock.The Post reports that while nearly 95% of Afghanistan’s rice imports originate in Pakistan, Afghan importers would prefer Indian rice if there were a shorter trade route between India and Afghanistan. The Post forecasts Afghanistan's MY 2014-15 milled rice production at about 520,000 tons, up about 2% from an estimated 510,000 tons produced in MY 2013-14, mainly due to expected increase in yields in some provinces. It expects harvested area in MY 2014-15 to remain at last year's level of 205,000 hectares. The Post finds that local milled rice is not competitive with imported rice due to absence of world-class milling and processing facilities. Afghan consumers mostly prefer imported Super Kernel Basmati "Sella" rice and it constitutes nearly 85% of Afghanistan's rice imports. The Post forecasts Afghanistan's MY 2014-15 milled rice consumption at 690,000 tons, up about 3% from an estimated 670,000 tons in the previous year, due to increasing demand for rice in urban areas. It expects rice consumption to increase in future years because of rapid urbanization and increasing per capita income.
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The Post finds that average prices of both imported and local rice have been increasing between 2009-2013. While the average price of imported rice increased by about 33%, that of local rice increased by 20% between 2009-2013. Tags: Afghanistan Rice Production, Afghanistan Rice Imports
FAO Estimates Malaysia Paddy Rice Production at Record 2.7 Million Tons in 2014, Up 3% from Last Year May 28, 2014
The UN's Food and Agriculture Organization (FAO) has estimated Malaysia's 2014 paddy rice production to increase to about 2.7 million tons (around 1.755 million tons basis milled), up about 3% from about 2.62 million tons (around 1.7 million tons basis milled) produced in 2013, mainly due to higher yields backed by favorable weather conditions and continued government support to the rice sector, including subsidies on farm inputs and machinery. In January 2014, the government set the Guaranteed Minimum Price (GMP) at MYR 1,200 (around $366 per ton).In its country brief on Malaysia, the FAO estimates Malaysian rice imports at 992,000 tons rice in 2014, mostly unchanged from last year.USDA estimates Malaysia's MY 2013-14 (January 2014 - December 2014) milled rice production at 1.76 million tons (around 2.7 million tons basis paddy), up about 4% from an estimated 1.69 million tons (around 2.61 million tons basis paddy) in MY 2012-13. It estimates MY 2014-15 milled rice production at 1.8 million tons (around 2.77 million tons basis paddy). USDA estimates Malaysia to import 1.1 million tons milled rice in 2014, unchanged from 2013, and up about 24% from about 890,000 tons imported in 2012. Tags: Malaysia rice production, Malaysia Rice Imports
USDA Post Estimates Russia 2014 Rice Exports to Increase to 200,000 Tons, Up 67% from Last Year May 28, 2014
USDA Post in Moscow has estimated Russia's rice exports in 2014 to increase to around 200,000 tons, up about 67% from an estimated 120,000 tons exported in 2013.The Post has increased its estimates for Russian rice exports by about 43% to 200,000 tons from the official estimates of around 140,000 tons based on the export pace during the last few months, an estimated increase in production and an estimated decline in consumption. It finds that Russia has exported around 200,000 tons rice between July 2013 and April 2014, up about 54% from about 1.3 million tons exported during the same period in the previous year. The Post reports that a depreciation of Russian ruble against the U.S. dollar in 2014 also contributed to higher exports.USDA Post
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estimates Russia to import 250,000 tons in 2014, unchanged from 2013 as well as from the USDA official estimates. The Post estimates Russia's milled rice production in MY 2014-15 (January 2015 - December 2015) at 650,000 tons, up about 7% from an estimated 608,000 tons in the previous year. USDA Post finds that rice sowing in 2014 commenced earlier than last year and as on May 21, 2014, around 158,400 hectares, or 80% of 981,000 hectares of planned rice area has been planted. The Post expects around 195,000 hectares of the 2014 rice planted area to be harvested, up about 5% from last year.The Post estimates consumption in MY 2014-15 at 700,000 tons, unchanged from last year but down about 7% from USDA's official estimates of about 750,000 tons. Tags: russia rice exports, Russia rice production, USDA, Russia rice imports
Vietnam to Remove Minimum Export Price for Rice May 28, 2014
Vietnam government is considering the removal of minimum export price (MEP) for rice allowing exporters, both state-owned and private, to set their own prices instead of sticking to the floor prices set by the Vietnam Food Association (VFA), according to local sources. Currently, the MEP for 5% broken rice stands at $410 per ton, MEP for 25% broken rice stands at $375 per ton, and that for 35% broken rice stands at $365 per ton.The government has instructed the Ministry of Industry and Trade (MOIT) and the Ministry of Agriculture and Rural Development (MARD) to report over the possible impact on such a decision on Vietnam's rice exports as well as work on diversifying Vietnam's export markets and set reasonable export targets. Local sources say the government is considering this move to provide more flexibility in pricing to the exporters. Analysts say the move would end VFA monopoly in Vietnam’s rice export market. The VFA told local reporters that such a move would increase competition among the rice exporting countries such as India, Thailand and Pakistan putting further downward pressure on rice export prices. It added that local private exporters would face difficulty in sustaining the competition. Internally, the VFA and the two stateowned export organizations VINAFOOD I and VINAFOOD II are being criticized for quoting too low bids in the Philippines tender, effectively positioning Vietnam rice as 'cheap' in the international market. Many exporters say foreign buyers are negotiating prices based on those quotes. Both farmers and local exporters are facing huge losses, they add. Meanwhile, Vietnam's former Prime Minister, Nguyen Cong Tan, criticized the role of the Vietnam Food Association (VFA) in managing exports saying the VFA has too many rights in formulating export policies and is protective of the two state-owned export organizations, which are authorized to collect rice from local enterprises and export it. He noted that the VFA has not been concerned of private exporters and farmers.Vietnam exported about 2 million tons rice during January 1 - May 22, 2014, down about 26% from about 2.8 million tons exported during the same period in 2013, according to data from VFA.
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Average rice export price so far in this year stands at about $436 per ton (FOB), down about 1% from about $439 per ton recorded during January - May, 2013.In the beginnin g of this month, the VFA has lowered 2014 rice export target to 6.2 million tons from the earlier target of 6.5 - 7 million tons due to increased competition from Thailand and India. USDA estimates Vietnam to export 6.5 million tons rice in 2014, down about 3% from about 6.7 million exported in 2013. It estimates Vietnam's rice exports to again increase to 6.7 million tons in 2015.
Tags: Vietnam rice exports, Minimum Export Price, VFA
Italy Rice Exports to Non-EU Countries Increase to 92,264 Tons in September 1, 2013 - May 20, 2014; Up 10% from Last Year
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Italy's total rice exports, including round rice, medium rice, Long A rice and Long B rice, to non-EU countries have increased to 92,246 tons in September 1, 2013 - May 20, 2014 period, up about 10% from about 83,966 tons exported last year, according to data published by the Italian Ministry of Industrial Development.Round rice exports nearly trebled to about 20,054 tons in September 1, 2013 - May 20, 2014 from about 6,973 tons exported during the same period last year. Medium rice exports declined to about 2,191 tons, down about 65% from about 7,150 tons exported during the same period last year. Long A rice exports declined to about 60,929 tons, down about 5% from about 64,344 tons exported last year. Long B rice exports almost doubled to about 9,823 tons in September 1, 2013 - May 20, 2014 from about 5,499 tons exported during the same period last year.Turkey constituted the largest buyer of Italy's rice outside the European Union, with about 29,989 tons, or about 32% of Italy's rice exports to non-EU countries in September 1, 2013 - May 20, 2014. Italy's rice exports to Lebanon accounted for 14,128 tons, or about 15% of total rice exports to non-EU countries. Exports to Switzerland accounted for 12,310 tons or about 13% of Italy's rice exports to non-EU countries. Exports to the U.S. accounted for 8,874 tons, or about 10% of Italy's rice exports to non-EU countries. Tags: italy rice exports, European Union
IRRI’s Swarna-SUB1, the Hot ‘App’ Spurring Second Green Revolution May 28, 2014
The International Rice Research Institute (IRRI) in Philippines has created some new ‘rice apps’ for farmers. Well, almost! If an ‘app’ is defined as ‘a self-contained program or piece of software designed to fulfil a particular purpose; an application, especially as downloaded by a user to a mobile device’ by Google, the rice ‘app’ is no different. IRRI assimilates desirable traits of one rice variety into new rice varieties through markerassisted breeding to create a customized ‘app’ (rice variety) for the farmer.Its efficacy was amply demonstrated when an Indian farmer in 2008 used IRRI’s 'new variety - Swarna-SUB1, a specific variety that can withstand floods to give high rice yields. A few weeks after he planted Swarna-SUB1, the floods came visiting the region, but his patient wait yielded good results. His crop gave the highest yield in the neighbourhood. The variety could just be what the doc ordered for countries like Bangladesh, Pakistan and India which face the constant threat of floods.IRRI said that whenever there is a flood, the SUB1 gene in the rice plant makes the plant to go in a stand-by mode and conserve energy until the water recedes. IRRI identified rice varieties with lower yield but high disease/flood resistance and uses the good traits into a high-yielding rice variety, thus giving the farmer best of both worlds.It is apt that news magazine 'The Economist’ stated that climate-smart rice is heralding a second green revolution in its May issue. Tags: Rice, app, swana-SUB1, IRRI
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Latest Research Sounds Death Knell to Killer Rice Fungus May 28, 2014
Rice scientists have finally sounded the death knell for rice blast fungus that mercilessly exterminates nearly one-third of the world’s rice crop. Considering rice is the staple of over 3 billion people - that’s nearly half the world’s population, it is breakthrough discovery.Researchers at the University of Delaware (UD) and the University of California at Davis led by Harsh Bais of UD have discovered a friendly microbe called Pseudomonas chlororaphis EA105 that lives underneath the soil around rice plants and prevents the devastating fungus known as rice blast (Magnaporthe oryzae) while encouraging rice plant to build a sturdy response system to guard against the fungus. The new bacteria may be the answer to crop losses due to plant disease and help the rice plan yield more in the same piece of land.The fungus invades rice plants through microorganisms which look like pressure plugs that infiltrate the plant tissue and eats the plant alive. Diamond shaped abrasions found on the plant leaves are often due to the killer fungus.
Tags: Rice, fungus, microbe, killer, Research, delaware
Oryza Overnight Recap - Chicago Rough Rice Futures Remain Under Pressure as July Contract Reduces Premium to September May 28, 2014
Chicago rough rice futures for Jul delivery were paused 8.5 cent per cwt (about $2 per ton) lower overnight at $15.005 per cwt (about $331 per ton) as of 8:00am Chicago time. The other grains are seen mixed this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.6% higher, wheat was paused about 0.6% lower, and corn is noted about 0.6% lower. U.S. stock index futures pointed to gains on Wall Street Wednesday, buoyed by a strong finish on Tuesday when the S&P 500 set a record following a batch of better-than-expected economic reports. The positive durable goods orders and higher home prices that boosted stocks Tuesday gave markets in Asia a lift too, although shares in Europe traded flat. On Wednesday, the dollar edged higher against other global currencies; the 10-year U.S. Treasury yield fell 2 basis points to 2.491%; crude futures for July delivery added 2 cents to $104.13 a barrel and gold futures for June delivery fell 20 cents to $1,265.30. There is no economic data to watch on Wednesday and just a handful of earnings reports. U.S. stock index futures are currently trading a touch lower, gold is currently trading about 0.1% higher, crude oil is seen trading about 0.2% lower, and the U.S. dollar is currently trading about 0.1% higher at 8:00am Chicago time.
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