2nd April, 2014
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TOP Contents - Tailored for YOU Latest News Headlines…
Oryza Rice Currency Analysis for Today – India Rupee Rallies 0.7% Oryza Global Rice Quotes South Korea Targets 4.15 Million Tons Rice Production in 2014-15; Down 2% from Previous Year Philippines NFA Plans Pre-Bid Conference for Import of 800,000 Tons of Rice Peru 2014 Rice Production May Decline Due to El Niño U.S. 2014 Rice Acreage Expected to Increase to 1.16 Million Hectares; Up 16% from Previous Year USDA Post Forecasts Jordon 2014 Rice Imports at 185,000 Tons Italy Rice Export Tonnage to non-EU Countries Up 23% from Last Year EU Publishes Latest Rice Report, Showing Controversial EBA Import Stats Thailand, Vietnam Rice Sellers Increase Some of Their Quotes Today Pakistan, China Sign Agreement to Promote Cooperation in Rice Trade Oryza Overnight Recap – Chicago Rough Rice Futures Pullback Overnight Following Yesterday’s Strength Brazil Paddy Rice Index Increases Slightly in Last Week Oryza Afternoon Recap – Chicago Rough Rice Futures Advance to Fresh Highs on Yesterday’s Supportive Rice Stocks Report Vietnam Mekong Delta Rice Production Hurt by Drought, Salinity Vietnam Mekong Delta Rice Production Hurt by Drought, Salinity Cambodia Exports About 84,330 Tons of Rice in Q1 2014
NEWS DETAILS: Oryza Rice Currency Analysis for Today – India Rupee Rallies 0.7% Apr 01, 2014
U.S. dollar index was down -0.02% from the open today, when it traded at 80.081 at the close. Euro was stronger +0.19% by the close, trading around 1.3794 by end of day, after trading between an intraday high of 1.3815 and low of 1.3769.
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Thai baht was stronger +0.19%, trading at 32.355 at the close of business. Indian rupee was stronger +0.71% at 59.8900. Brazilian real was stronger +0.20% at the close of trading today, trading at 2.2672 reais per dollar. Pakistan rupee was -0.09% weaker at 98.2745. Vietnamese dong was unchanged at 21098. Mexican peso was stronger +0.05% today, when it traded at 13.0521 pesos per dollar by the close of business. Chinese yuan was stronger +0.17%, trading at 6.2068. Argentine peso was stronger +0.02% at 8.0010 pesos per dollar.
Oryza Global Rice Quotes April 1st, 2014 Long grain white rice - high quality Thailand 100% B grade 395-405
↔
Vietnam 5% broken
385-395
↔
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
360-370
↔
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
410-420
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
↑
500-510
India basmati 2% broken
1515 -1525
Pakistan basmati 2% broken
NQ
Cambodia Phka Malis
885-895
↔
↔ ↔
Brokens Thailand A1 Super 300-310 ↔ Vietnam 100% broken 335-345 ↔ Pakistan 100% broken stxd 335-345 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 1070-1080 Egypt medium grain 6% NQ
↔
↔ All prices USD per ton, FOB vessel, oryza.com
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South Korea Targets 4.15 Million Tons Rice Production in 2014-15; Down 2% from Previous Year Apr 01, 2014
South Korea’s agriculture ministry says that the rice production target for crop year 2014-15 (November – October) has been fixed at 4.15 million tons, down about 2% from an estimated 4.23 million tons produced in 2013, according to Reuters.The Agriculture Ministry says that most of the decline in rice production this year will be due to an anticipated decline in rice area. Rice consumption in South Korea is declining and the government policy supports reduction in rice area to ensure good returns for farmers.According to the Agriculture Ministry, rice consumption in South Korea is projected at 4.07 million tons in CY 2014-15, down about 9% from an estimated million tons in the previous year. South Korea is also expected to import around 400,000 tons of rice in the calendar year 2014 under WTO obligations. Tags: South Korea rice production, South Korea rice imports
Philippines NFA Plans Pre-Bid Conference for Import of 800,000 Tons of Rice Apr 01, 2014
The Philippines National Food Authority (NFA) is planning to hold a pre-bid conference on April 3, 2014 to help bidders understand the requirements before the open bidding takes place on April 15, 2014, according to PhilStar. The pre-bid conference is scheduled to take place at 9 a.m. at the Social Hall of the Sugar Regulatory Administration building in Quezon City, Philippines. The NFA said that all countries (including Thailand) and private companies could participate in the open bidding without any need for a rice supply agreement. The Philippines is looking for well milled long grain white rice with 15% brokens. Delivery is expected in four tranches between April and August 2014, said the NFA. Tags: Philippines rice imports, National Food Authority (NFA)
Peru 2014 Rice Production May Decline Due to El Niño Apr 01, 2014
Weather experts in Peru say that rice production in the country could be adversely affected due to the possibility of a weak to moderate El Niño in the second half of 2014.According to the USDA, Peru’s National Meteorological and Hydrological Service expects fall temperatures to be 2 degrees Celsius warmer than normal due to El Niño, while flooding in the Piura province could disrupt rice production in the country.Local sources say that lingering drought conditions in the Piura and Lambayeque provinces in Northern Peru are likely to reduce rice production by up to 40% (about 800,000 tons) in Peru in 2014-15. The occurrence of El Niño may lead to a further decline in the country’s rice production this year.According to the USDA, Peru’s rice production in MY 2014-15 (April - March) is expected to reach around 2.1 million tons, down about 3% from 2.16 million tons in MY 2013-14. Rice consumption in Peru is estimated at 2.35 million tons in MY 2014-15 and imports are estimated at around 240,000 tons.
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Tags: Peru rice production, El Ni単o
U.S. 2014 Rice Acreage Expected to Increase to 1.16 Million Hectares; Up 16% from Previous Year Apr 01, 2014
The USDA says that the rice planting area for rice in the U.S. is expected to increase to about 1.16 million hectares in 2014, up about 16% from around one million hectares in 2013 due to lower prices for competing commodities. Most of the increase in planting area is for long grain rice.The USDA says that rice planting area in Arkansas, Louisiana, Mississippi, Missouri are expected to increase while that in California and Texas (areas facing lower water supplies this year) are expected to decline.The USDA expects the planting area under long-grain rice to increase to about 901,000 hectares in 2014, up about 25% from about 720,000 hectares in 2013. The rice planting area under longgrain is expected to increase in the states of Arkansas, Louisiana, Mississippi and decline in California and Texas. Rice planting area under long grain rice in Texas is expected to decline by about 7% to 53,000 hectares in 2014 from 57,000 hectares in 2013, while that in Arkansas is expected to increase by about 42% to 546,000 hectares from 386,000 hectares in 2013. Planting area under medium grain is expected to decline to 252,000 hectares in 2013, down about 6% from 267,000 hectares in 2013. The decline is mainly due to California where the rice planting area is expected to decline by about 19% to 169,000 hectares in 2014 from 208,000 hectares in 2013. However, rice planting area under medium grain in Arkansas is expected to increase by about 42% to 68,000 hectares from 58,000 hectares in 2013.The planting area under short grain is expected to decline to 10,000 hectares in 2014, down about 44% from 18,000 hectares in 2013. California accounts for about 98% of short-grain rice planting area in the U.S.According to the USDA, the average yield per hectare for all rice varieties stood at around 8.62 tons per hectare in 2013 and the total paddy rice production stood at around 8.6 million tons.
Tags: U.S. rice acreage, U.S. rice production
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USDA Post Forecasts Jordon 2014 Rice Imports at 185,000 Tons Apr 01, 2014
The USDA Post says that Jordan's rice imports in the calendar year 2014 is expected to stand at around 185,000 tons, down about 7.5% from USDA official estimates of around 200,000 tons partly due to an estimated decline in consumption.Rice is a staple in Jordan but the country does not produce any rice due to water scarcity. According to the Post, average annual consumption is about 27 kilograms per person and consumers prefer medium grain (Camolino) rice variety which accounts for around 90% of rice imports by Jordan. The U.S. accounts for about 60% of Jordan's annual rice imports and the remaining share of imports is filled by Thailand, India and Turkey.According to the Post, rice consumption in 2014 is estimated at around 185,000 tons, down from official estimates of around 200,000 tons. Higher consumption estimates for wheat and corn for 2014 and 2015 suggest a growing share of wheat and meat-based foods in Jordan. The Post says that rice consumption and imports are also likely to remain unchanged at around 185,000 tons in 2015.Jordan does not maintain any buffer stocks for rice, and the government does not impose any restrictions on rice imports. Rice is imported and distributed by private traders according to free market rules, says the Post. Tags: Jordan rice imports, Jordan rice consumption
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Italy Rice Export Tonnage to non-EU Countries Up 23% from Last Year Apr 01, 2014
Italian rice exports outside the EU continue to grow. Since the beginning of the current marketing year starting September 1, 2013 - until March 25, 2014, Italy’s rice exports outside the EU reached 75,293 tons (basis milled) – equivalent to about 8% of Italy’s rice production - and up about 23% from 60,825 tons rein the same period last year, according to Agrex export licenses required by exporters from the Italian Ministry of Industrial Development. Since September 1, 2013, the most important buyer remains Turkey, importing 26,295 tons (up 30% y/y); followed by Lebanon, importing 11,140 tons (up 73% y/y); the U.S. with 7,529 tons ( up 7% y/y),; Serbia with 3,001 tons (up 115% y/y); Albania, with 2,307 tons; and Tirana importing 505 tons (up nearly four-fold y/y). Exports for all varieties are growing except medium rice: round rice exports year to date stand at 14,506 tons up about 175% y/y from 5,282 tons in previous campaign; exported medium rice tonnage is about 1,874 tons down 64% y/y from 5,177 tons last year. Long A rice exports show an increase of 10.5%, advancing from 46,134 tons of 2012/2013 to 50,984 tons of 2013/2014. Long B rice exports from Italy have almost doubled, with 7,292 tons in 2013/2014, up 87% from 4,232 tons of 2012/2013. Tags: italy rice exports, italy rice production
EU Publishes Latest Rice Report, Showing Controversial EBA Import Stats Mar 31, 2014
The EU recently published its latest monthly report on rice, including prices, trade statistics, and production and sales statistics. The report shows that while total EU rice imports have been stable since September 2012, the share of duty-free rice imports under the Everything But Arms (EBA) agreement made a steady increase since 2013.
Thailand, Vietnam Rice Sellers Increase Some of Their Quotes Today Apr 01, 2014
Thailand rice sellers increased their quotes for parboiled rice by about $5 per ton to about $410 - $420 per ton today. Vietnam rice sellers increased their quotes for Jasmine rice by about $5 per ton to about $500 – $510 per ton. India and Pakistan rice sellers kept their quotes mostly unchanged today. 5% Broken Rice
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Thai 5% rice (of new crop) is quoted around $380 - $390 per ton, about a $5 per ton discount to Viet 5% rice shown around $385 - $395 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 $5 per ton premium over Pak 25% rice quoted around $360 - $370 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 $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 $300 - $310 per ton, about a $35 per ton discount to Viet broken rice shown around $335 - $345 per ton. Indian broken sortexed rice is quoted around $305 - $315 per ton, about a $30 per ton discount to Pak broken sortexed rice quoted around $335 - $345 per ton. Tags: Asia rice quotes, Thailand rice quotes, Vietnam rice quotes, Pakistan rice quotes, India rice quotes
Pakistan, China Sign Agreement to Promote Cooperation in Rice Trade Apr 01, 2014
The Rice Exporters Association of Pakistan (REAP) and Guangdong Provincial Grain Association (GPGA) of China have signed a Memorandum of Understanding (MoU) to promote cooperation in rice trade, according to local sources.As per the agreement, the Guangdong Provincial Grain Association will explore investment cooperation in grain trade, production, processing and technology in Pakistan. GPGA will also carry out business activities with REAP and its recommended enterprises, according to the MoU. The REAP Chairman says that the Chinese market promises a lot of opportunities for Pakistani rice as is evident from record rice exports to China by Pakistani exporters. The Chinese delegation leader says that their visit to Pakistan was aimed to enhance bilateral trade between the two countries, especially rice, and also to carry out research in rice trade, growing techniques, processing and trading.Pakistan exported about 589,848 tons of rice to China in FY 2012-13 (July - June), up about 63% from about 362,560 tons exported in FY 2011-12, according to REAP. Rice exports to China accounted for about 17% of total rice exports of around 3.5 million tons by Pakistan in FY 2012-13.China is the world’s largest importer of rice. According to the China National Grain and Oils Information Center (CNGOIC), China’s rice imports are expected to surge to a record 4 million tons in 2013-14, up about 14% from around 3.5 million tons of rice imports in the previous year. Tags: China rice imports, Pakistan rice exports
Oryza Overnight Recap – Chicago Rough Rice Futures Pullback Overnight Following Yesterday’s Strength
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Apr 01, 2014
Chicago rough rice futures for May delivery are currently paused 7 cents per cwt (about $2 per ton) lower overnight at $15.530 per cwt (about $342 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 0.8% higher, wheat was paused about 0.8% lower, and corn is noted about 0.8% higher.U.S. stock index futures pointed to a higher open Tuesday, looking to add to gains from the previous session, with the Institute for Supply Management (ISM) manufacturing survey for March in focus. Investors will look to data on the manufacturing sector for an indication of the economy's health after lackluster data earlier in the year was attributed to a harsh winter. The final Markit manufacturing PMI for March is due at 9:45 am ET and the Institute for Supply Management's manufacturing reading for March is due at 10 am ET. ISM is expected to show a reading of 54 versus the prior 53.2. A reading above 50 indicates expansion. The prior Market reading came in at 55.5. In addition, construction spending data for February is due at 10 am ET. Expectations call for a flat reading versus the prior gain of 0.1%.Markets remain focused on the monthly jobs report, due on Friday, which is viewed as a key indicator in determining how rapidly the Federal Reserve quits its bond-buying program. U.S. stock index futures are currently trading about 0.3% higher, gold is currently trading about 0.2% higher, crude oil is seen trading about 0.2% lower, and the U.S. dollar is currently trading about 0.1% lower at 8:00am Chicago time. Tags: chicago rough rice futures
Brazil Paddy Rice Index Increases Slightly in Last Week Apr 01, 2014
The Brazilian paddy rice index maintained by CEPEA stood at around 33.98 real per 50 kilograms on March 31, 2014, up slightly from around 33.75 real per 50 kilograms recorded a week earlier on March 24, 2014.In terms of USD per ton, the index increased to around $299.8 per ton on March 31, 2014, up about 3% from around $291 per ton recorded on March 24, 2014.
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Oryza Afternoon Recap – Chicago Rough Rice Futures Advance to Fresh Highs on Yesterday’s Supportive Rice Stocks Report Apr 01, 2014
Chicago rough rice futures for May delivery settled 9 cents per cwt (about $2 per ton) higher at $15.690 per cwt (about $346 per ton). Rough rice futures continue to react to what was seen as a supportive rice stocks report released yesterday which has confirmed a tightening supply situation ahead of a larger expected new crop. Today’s action is seen as further confirmation of the recent bullish reversal following a dip below $15.300 per cwt (about $337 per ton) momentarily last week. Prices are now firmly in technically bullish territory and appear poised to test longer term resistance at $15.800 per cwt (about $348 per ton), a level that has acted as the upper boundary to a sideways trading range which has held throughout this calendar year. Furthermore; additional credence is given to the current run up in prices as it has taken place on increased trade volume and improving open interest, leading some traders to expect that we could see fresh highs shortly. Additional support today was likely attributed to overall bullishness in the grain complex as the other grains finished the day mostly higher with only wheat closing in the red; soybeans closed about 1.4% higher at $14.8450 per bushel; wheat finished about 1.7% lower at $6.8525 per bushel, and corn finished the day about 1.1% higher at $5.0750 per bushel. U.S. stocks held modest gains across the board Tuesday after the S&P 500 briefly shot to a fresh intraday record, as investors digested the latest batch of economic reports. The Dow Jones Industrial Average held modest gains. The S&P 500 and the Nasdaq were also in positive territory. The Dow and S&P 500 are seeing their first three-day win streak since the end of February. Stocks wrapped up a mixed first quarter, with the Dow ending in the red and the S&P and Nasdaq squeezing out moderate gains. And with the start of a new month, investors are hoping that April will be brighter for stocks. According to market patterns, April is the bestperforming month for the Dow, with the index posting an average gain of over 2% over the last 50 years. U.S. manufacturing growth improved for the second month in March. The Institute for Supply Management (ISM) said its index of national factory activity rose to 53.7 in March, which was up slightly from February's read of 53.2 but below the expected 54.0 reading in a Reuters poll. Gold is trading about 0.3% lower, crude oil is seen trading about 1.8% lower, and the U.S. dollar is seen trading about 0.1% lower at about 1:00pm Chicago time.Monday, there were 1,991 contracts traded, up from 947 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday increased by 113 contracts to 8,247. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Vietnam Mekong Delta Rice Production Hurt by Drought, Salinity Apr 01, 2014
Rice production in thousands of hectares in Vietnam’s Mekong Delta region is adversely affected by drought and saltwater intrusion, according to local sources.The Mekong Delta accounts for around 50% of Vietnam’s total rice production of around 28 million tons, and for around 90% of exports of around 7 million tons. However, farmers in the region are likely to lose a significant part of their rice crop this year due to shortage of water and increasing salinity.The Department of Agriculture and Rural Development had advised farmers to avoid planting this year, but most farmers carried on with planting. Officials say that average rice yields could
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drop around 30-40% due to salinity alone. Salinity has increased this year due to saltwater intrusion from the seas into the rivers. Tags: Vietnam rice production, Mekong Delta Region rice production
Vietnam Mekong Delta Rice Production Hurt by Drought, Salinity Rice production in thousands of hectares in Vietnam’s Mekong Delta region is adversely affected by drought and saltwater intrusion, according to local sources.The Mekong Delta accounts for around 50% of Vietnam’s total rice production of around 28 million tons, and for around 90% of exports of around 7 million tons. However, farmers in the region are likely to lose a significant part of their rice crop this year due to shortage of water and increasing salinity.The Department of Agriculture and Rural Development had advised farmers to avoid planting this year, but most farmers carried on with planting. Officials say that average rice yields could drop around 30-40% due to salinity alone. Salinity has increased this year due to saltwater intrusion from the seas into the rivers. Tags: Vietnam rice production, Mekong Delta Region rice production
Cambodia Exports About 84,330 Tons of Rice in Q1 2014 Cambodia exported about 84,330 tons of rice in first quarter of calendar year 2014, down about 11% from about 95,228 tons rice exported in the same period last year, according to data from the Secretariat of One Window Service of Rice Export Formality (SOWS-REF). In March 2014, Cambodia exported about 35,757 tons of rice, down about 21% from about 45,413 tons of rice exported in March 2013 and up about 32% from about27,037 tons of rice exported in February 2014. In March 2014, Cambodia exported mainly Jasmine rice (about 11,628 tons), long grain white rice (about 8,508 tons) and premium white rice (about 8,278 tons). European nations, Malaysia, and China remain the main rice export destinations for Cambodian rice so far this year.
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