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TOP Contents - Tailored for YOU Latest News Headlines…
Oryza Afternoon Recap - Chicago Rough Rice Futures Pop Higher as New Crop Futures Find Buyers Oryza Rice Currency Analysis for Today – Brazil Real Declines 1% Government of India is Flooding Local Market with Cheap Rice to Stamp Out Inflation; But, Will It Work? Indonesia Will Not Import Rice in 2014, Says Deputy Agriculture Minister Argentina Exports 212,051 Tons of Rice in January - April 2014; Up 33% from Previous Year Pakistan Rice Exports Decline 8% y/y to 2.9 Million Tons in July 2013 - May 2014; Earnings Up 14% y/y Indonesia 2014 Paddy Rice Production to Reach 69.8 Million Tons; Down 2% from Last Year Oryza Global Rice Quotes
News Detail… Oryza Afternoon Recap - Chicago Rough Rice Futures Pop Higher as New Crop Futures Find Buyers Jul 02, 2014
Chicago rough rice futures for Sep delivery settled 16 cents per cwt (about $4 per ton) higher at $13.690 per cwt (about $302 per ton). The other grains finished the day with mixed results; soybeans closed about 0.5% lower at $11.4150 per bushel; wheat settled about 0.5% higher at $5.7550 per bushel, and corn finished the day about 1.1% lower at $4.1800 per bushel.U.S. stocks closed mixed on Wednesday as the Dow and S&P 500 pushed into uncharted territory ahead of a government jobs report expected to confirm economic strength. In the last full day of trading before the July 4th holiday, the Dow had the narrowest range of the year, reaching a high of just 37 points in the first 15 minutes of trading. Earlier in the day, the ADP jobs report reported better-thanexpected numbers. The report is viewed as an indicator of the all-important non-farm payrolls due Thursday, estimated to rise by 212,000. Traders also looked to the bond market as Treasury yields on benchmark 10-year notes rose to the high end of the curve at 2.62%. The Dow Jones Industrial Average ticked higher. The S&P 500 traded slightly higher as half of the 10 sectors hit 52-week highs, with the health care sector leading gains. After leading sectors for the year, utilities were the greatest laggard overall, suffering its biggest one-day decline since June 2013. The Nasdaq traded lower. Gold is trading about 0.1% higher, crude oil is seen trading about 1% lower, and the U.S. dollar is seen trading about 0.2% higher about 4:00pm Chicago time.Tuesday, there were 658 contracts traded,
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up from 451 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday decreased by 348 contracts to 8,106.
Oryza Rice Currency Analysis for Today – Brazil Real Declines 1% Jul 02, 2014
U.S. dollar index was up +0.18% from the open today, when it traded at 79.954 at the close. Euro was weaker -0.18% by the close, trading around 1.3655 by end of day, after trading between an intraday high of 1.3683 and low of 1.3643. Thai baht was stronger +0.02%, trading at 32.383 at the close of business. Indian rupee was stronger +0.64% at 59.6937. Brazilian real was weaker -1.07% at 2.2257 reais per dollar. Pakistan rupee was +0.10% stronger at 98.5905. Vietnamese dong was stronger +0.05% at 21320. Mexican peso was weaker -0.50% today, when it traded at 13.0075 pesos per dollar by the close of business. Chinese yuan was weaker -0.14% at 6.2103. Argentine peso was weaker -0.03% at 8.1367 pesos per dollar.
Government of India is Flooding Local Market with Cheap Rice to Stamp Out Inflation; But, Will It Work? Jul 02, 2014 India’s Cabinet Committee on Economic Affairs (CCEA) has approved the respective State governments and Union Territories (UTs) to distribute the additional 5 million tons of rice, which the government has decided to release from the Central Pool to contain inflation and curb price hikes, at Below Poverty Line (BPL) and Above Poverty Line (APL) prices for the period July 2014 - March 2015, according to a press release by the CCEA.The Press Release states that the states
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could continue to distribute the rice to the APL/BPL families during the slated period, or till the implementation of the National Food Security Act (NFSA) by the respective States/UTs, whichever is earlier.
According to local sources, currently the APL prices are quoted at Rs.8 per kilogram (around $133 per ton) and BPL prices are quoted at Rs.4 per kilogram (around $133 per ton).It also noted that the arrangement would help the public combat inflation in food prices, particularly in states/UTs, which have not implemented the NFSA so far. However, there are concerns that very depressed local prices may dampen incentives for farmers to grow rice, potentially leading to production shortfalls next year. Also, this may encourage some unscrupulous traders to buy the cheap rice and sell it at higher prices generating black money in the economy.
Indonesia Will Not Import Rice in 2014, Says Deputy Agriculture Minister Jul 02, 2014 Contrary to estimates by USDA, the UN's Food and Agriculture Organization (FAO) and industry experts, Indonesia's Deputy Agriculture Minister said the Indonesian government will not import rice in 2014 as the expected output of around 69.8 million tons would be sufficient to meet the requisite demand, according to local sources.Indonesia's Central Statistics Agency (BRS) yesterday estimated that 2014 paddy rice production would decline to around 69.8 million tons, down about 2% from an estimated 71.28 million tons in 2013. However, the Minister told local sources that a decline in production would not necessarily mean imports. "It does not mean that the decline in production (missing target) will automatically trigger importation and the self sufficiency could not be achieved," he noted. The Minister stated that Indonesia currently has around 1.6 million tons of rice in stocks with the national logistics agency (Bulog), and the total supply would be suffice to meet the demand. However, Bloomberg reprots that Indonesia' Trade Minister has instructed Bulog to prepare for rice importation due to an expectation of a decline in paddy production this year. But Bulog President was quoted as saying that the State Food Company will continue to buy rice from local farmers to strengthen its stockpiles and has not yet decided to import rice.Two weeks earlier, Reuters reported that industry officials and analysts are expecting Indonesia to more than double its rice imports to around 1.5 million tons in 2014 from an estimated 700,000 tons imported in 2013 ahead of a general election and El Nino. The UN's Food and Agricultural Organization (FAO) has estimated Indonesia's 2014 milled rice imports at around 1.1 million tons, up about 60% from about 687,500 tons imported in 2013.USDA estimates Indonesia to produce around 37.355 million tons of rice, basis milled, and import around 1.5 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 increase by just 2% from 36.55 million tons in 2013. Consumption in 2014 is expected to increase by 1% to around 38.65 million tons from 38.127 million tons in 2013.
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Argentina Exports 212,051 Tons of Rice in January - April 2014; Up 33% from Previous Year Jul 02, 2014
Argentina has exported around 212,051 tons rice in January April 2014, up about 33% from around 159,925 tons exported during the same period in 2013, according to data from the Ministry of Agriculture in Argentina. Argentina exported around 88,169 tons of rice in April 2014, up about 74% from around 50,542 tons exported in March 2014; and about 92% from about 45,871 tons exported in April 2013. Iraq and Brazil accounted for nearly 93% of Argentina’s rice exports in April 2014.
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Argentina exported around 61,249 tons of rice to Iraq (about 69% of total rice exports in April 2014) and around 20,675 tons of rice to Brazil (about 23%). It also exported around 3,503 tons of rice to Bolivia (about 4%), around 890 tons to Chile (about 1%), and around 875 tons to Costa Rica (about 1%). Remaining 1% or 969 tons rice were exported to Canada, Denmark, Paraguay, Germany, New Zealand and the U.S.
Pakistan Rice Exports Decline 8% y/y to 2.9 Million Tons in July 2013 - May 2014; Earnings Up 14% y/y Jul 02, 2014
Pakistan has exported around 2.9 million tons of rice in the first eleven months (July – May) of the current fiscal year 2013-14 (July June), which is down about 8% from around 3.15 million
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tons of rice exported during the same period in FY 2012-13, according to provisional data from the Pakistan Bureau of Statistics (PBS).Pakistan’s basmati rice exports in July 2013 – May 2014 stood at around 583,791 tons, down about 5% from around 613,857 tons exported during the same period in the previous year. Pakistan's non-basmati rice exports in July 2013 – May 2014 have also declined to around 2.33 million tons, down about 8% from around 2.54 million tons exported during the same period in the previous year.However, Pakistan’s rice exports are up in terms of value. Pakistan has earned about $2 billion from total rice exports in July 2013 – May 2014, up about 14% from around $1.76 billion (using historical exchange rates) earned during the same period in FY 2012-13. Earnings from basmati rice exports in July 2013 – May 2014 stood at around $607 million, up about 1% from around $601 million during the same period in the previous year, while non-basmati rice exports' earnings stood at around $1.43 billion, up about 23% compared to around $1.16 billion (using historical exchange rates) in the same period in FY 2012-13.
Indonesia 2014 Paddy Rice Production to Reach 69.8 Million Tons; Down 2% from Last Year Jul 02, 2014
Indonesia's 2014 paddy rice production is estimated to reach around 69.8 million tons, down about 2% from an estimated 71.28 million tons in the previous year, according to the country's Central Statistics Agency (BRS).
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The BRS attributes the fall in production to decline in area harvested and yields. It estimates 2014 planting area at around 13.57 million hectares, down about 2% from around 13.84 million hectares planted in 2013. Planting area in the Jawa region is expected to decline to around 6.2 million hectares, down about 4% from around 6.47 million hectares planted last year. However, planting area in the Lower Jawa region is expected to increase marginally to around 7.37 million hectares from around 7.368 million hectares last year.The Indonesian agency estimates the average paddy yield in 2014 to decline marginally to around 5.149 tons per hectare from around 5.152 tons per hectare in the previous year. The pace of the rice harvest in January - April 2014 is relatively lower than the pattern of harvest during the same period last year. Around 6.17 million hectares of paddy rice area is harvested in the first four months of 2014, down about 1.6% from around 6.27 million hectares harvested in 2013.
USDA estimates Indonesia to produce around 37.355 million tons of rice, basis milled, and import around 1.5 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 increase by just 2% from 36.55 million tons in 2013. Consumption in 2014 is expected to increase by 1% to around 38.65 million tons from 38.127 million tons in 2013.
Oryza Global Rice Quotes July 2nd, 2014 Long grain white rice - high quality Thailand 100% B grade 425-435
↔
Vietnam 5% broken
415-425
↑
India 5% broken
430-440
↔
Pakistan 5% broken
440-450
↔
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Cambodia 5% broken
440-450
U.S. 4% broken 570-580
↔
↔
Uruguay 5% broken
625-635
↔
Argentina 5% broken
620-630
↔
Long grain white rice - low quality ↔
Thailand 25% broken
NQ
Vietnam 25% broken
365-375
↑
Pakistan 25% broken
385-395
↔
Cambodia 25% broken 410-420
↔
India 25% broken
390-400
↔
U.S. 15% broken
545-555
↔
Long grain parboiled rice Thailand parboiled 100% stxd
425-435
Pakistan parboiled 5% broken stxd
↔
430-440
India parboiled 5% broken stxd 405-415
↔
U.S. parboiled 4% broken
630-640
↔
Brazil parboiled 5% broken
NQ
↔
Uruguay parboiled 5% broken
NQ
↔
↔
Long grain fragrant rice Thailand Hommali 92% 985-995
↔
Vietnam Jasmine
↔
575-585
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India basmati 2% broken
NQ
↔
Pakistan basmati 2% broken
NQ
↔
Cambodia Phka Malis
845-855
↔
Brokens ↔
Thailand A1 Super
NQ
Vietnam 100% broken
330-340
Pakistan 100% broken stxd
↔
325-335
350-360
↔
India 100% Broken stxd 315-325
↔
Egypt medium grain brokens
NQ
↔
U.S. pet food
↔
Cambodia A1 Super
470-480
Brazil half grain
NQ
↔
↔
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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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