4th July , 2014
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TOP Contents - Tailored for YOU Latest News Headlines…
Oryza White Rice Index – Thailand Rice Quotes Advance as Government Checks Stocks Oryza Rice Currency Analysis for Today – Brazil Real Advances 0.5% Oryza Afternoon Recap - Chicago Rough Rice Futures Finish Shortened Week on Bearish Note as Traders Take Profit ahead of Extended Weekend
Future Belongs to Direct Drilling Rice Techniques, Much-Travelled Oz Farmer Predicts Oryza Global Rice Weather Outlook Indian Scientists Discover Low GI Rice That’s Good for Diabetics Oryza Overnight Recap - Chicago Rough Rice Futures Pull Back Slightly Overnight Following Yesterday's Rally Philippines NFA Floods Domestic Market with Rice, Hopes to Dampen High Prices FAO Estimates 2014 Global Milled Rice Production at 503.6 Million Tons; Up 1% from Last Year SDA Post Estimates Brazil to Export 950,000 Tons of Rice in MY 2013-14; Up 13% from Last Year Can Rice DNA Analysis help Identify Origin of Food Materials? Asia Rice Quotes Unchanged Today Oryza Global Rice Quotes
News Detail… Oryza White Rice Index – Thailand Rice Quotes Advance as Government Checks Stocks Jul 03, 2014
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The Oryza White Rice Index, a weighted average of global white rice export quotes, ended this week at about $465 per ton, up about $4 per ton from a week and a month ago, and down about $9 per ton from a year ago. The International Grains Council (IGC) estimates that 2014 world rice trade will reach a record 40 million tons, about 5% more than the 38 million tons traded in 2013, due to increased imports by Far East Asian and African countries. The IGC estimates that global rice output in 2013-14 will be about 476 million tons, an increase of about 1% from 2012-13. Global rice consumption will also increase, according to the IGC, to about 476 million tons, about 2% more than in 2012-13. Global ending stocks in 2013-14 will decline to about 109 million tons, down from 110 million tons the previous year, according to the IGC. The UN’s Food and Agricultural Organization (FAO) estimates 2014 global rice production will reach 503.6 million tons (about 755.4 million tons, basis paddy). This is an increase of about 1% from 2013. It estimates 2015 global rice stocks will be about 183 million tons, up about 1% from the estimate for 2014. Thailand
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Thailand 5% broken rice is today shown at about $410 per ton, up about $25 per ton, from a week ago, up about $30 per ton from a month ago and down about $70 per ton from a year ago. The Bank of Agriculture and Agricultural Cooperatives (BAAC) will offer about 137 billion baht (about $4 billion) in loans to rice farmers for cultivation subsidy and soft loans, according to local sources. The loans are part of the military government’s plan to help rice farmers after ending the rice pledging scheme. Meanwhile, the military government has announced that a general election could be held in October 2015, according to the New York Times. The IGC estimates that Thailand’s rice exports will increase to about 9.2 million tons this year. India India 5% broken rice is today shown at about $435 per ton, unchanged from a week ago, down about $5 per ton from a month ago and down about $10 per ton from a year ago. The IGC estimates that India will export about 9.7 million tons of rice in 2014, 8% less than in 2013. The Indian Meteorological Department lowered its probability of El Nino occurring this monsoon season from 80% to 60%, according to local sources. The government has decided to release 5 million tons of rice from the Central Pool to contain inflation and curb price hikes, and India’s Cabinet Committee on Economic Affairs (CCEA) has approved the respective State governments and Union Territories to distribute it at Below Poverty Line and Above Poverty Line prices for the period July 2014-March 2015, according to the CCEA. Vietnam Vietnam 5% broken rice is today shown at about $420 per ton, up about $10 per ton from a week ago, up about $15 per ton from a month ago and up about $50 per ton from a year ago. During the period January 1-June 26, Vietnam exported about 2.848 million tons of rice, about 19% less than January-June 2013, according to the Vietnam Food Association (VFA). The average price of rice for export is about $432 per ton (FOB), about $1 per ton more than the same time in 2013. The IGC estimates that Vietnam’s rice exports will decrease to about 6.3 million tons this year, from 6.7 million tons last year. Pakistan
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Pakistan 5% broken rice is quoted at about $435 per ton, down about $10 per ton from a week ago, down about $15 per ton from a month ago and up about $10 per ton from a year ago. During the first eleven months (July-May) of fiscal year 2013-14 (July-June), Pakistan has exported about 2.9 million tons of rice, down about 8% from the same period in FY2012-13, according to the Pakistan Bureau of Statistics. However, in terms of value, Pakistan’s exports are up. During the same period, the country has earned about $2 billion from rice exports, an increase of about 14% from the same period in FY 2012-13.
Oryza Rice Currency Analysis for Today – Brazil Real Advances 0.5% Jul 03, 2014
U.S. dollar index was up +0.32% from the open today, when it traded at 80.212 at the close. Euro was weaker -0.37% by the close, trading around 1.3609 by end of day, after trading between an intraday high of 1.3664 and low of 1.3643. Thai baht was weaker -0.13%, trading at 32.420 at the close of business. Indian rupee was weaker -0.08% at 59.7425. Brazilian real was stronger +0.51% at 2.2123 reais per dollar. Pakistan rupee was +0.10% stronger at 98.5813. Vietnamese dong was stronger +0.09% at 21300. Mexican peso was stronger +0.29% today, when it traded at 12.9592 pesos per dollar by the close of business. Chinese yuan was weaker -0.04% at 6.2127. Argentine peso was weaker -0.03% at 8.1388 pesos per dollar. Tags: foreign exchange rates, Rice currencies, Global rice trade
Oryza Afternoon Recap - Chicago Rough Rice Futures Finish Shortened Week on Bearish Note as Traders Take Profit ahead of Extended Weekend Jul 03, 2014
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Chicago rough rice futures for Sep delivery settled 11 cents per cwt (about $2 per ton) lower at $13.580 per cwt (about $299 per ton). The other grains finished the day mostly lower; soybeans closed about 0.7% lower at $11.3350 per bushel; wheat settled about 0.7% higher at $5.7950 per bushel, and corn finished the day about 0.7% lower at $4.1525 per bushel.U.S. stocks rose on Thursday, lifting the Dow industrials above 17,000, after the government reported the economy created a better-than-expected 288,000 jobs in June and the unemployment rate fell to 6.1%. Flat ahead of the jobs report, the yield on the 10-year Treasury jumped as much as five basis points and was lately up 2 basis points at 2.648. The European Union kept monetary policy unchanged as expected on Thursday following last month's measures to stimulate the economy. After closing at records on Wednesday, both the Dow and S&P 500 furthered their advance into uncharted terrain in Thursday's abbreviated session. After a 98-point jump, the Dow Jones Industrial Average ended up 92.02 points, or 0.5%, to 17,068.26. The S&P 500 added 10.82 points, or 0.6%, to 1,985.44, with industrials and consumer discretionary leading sector gains and utilities the sole laggard among its 10 major industry groups. The Nasdaq advanced 28.19 points, or 0.6%, to 4,485.93. Wall Street offered muted reaction to an industry report showing the pace of growth in the U.S. services sector slowing slightly in June. Gold is trading about 0.7% lower, crude oil is seen trading about 0.7% lower, and the U.S. dollar is seen trading about 0.3% higher about 12:00pm Chicago time.Wednesday, there were 377 contracts traded, down from 658 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday decreased by 27 contracts to 8,079. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
Future Belongs to Direct Drilling Rice Techniques, Much-Travelled Oz Farmer Predicts Jul 03, 2014
The future belongs to direct drilled rice techniques, declares Peter Kaylock, the much-travelled New South Wales Nuffield Scholar from Australia. A pioneer in rice farming technologies, Kaylock has experimented with planting rice straight into the ground using an air seeder in his 7,000 hectare field. A 36-feet wide air seeder can let the farmer to seed, apply fertilizer and distribute nitrogen. The seeder can also dig and drill.Rural Industries Research and Development Corporation (RIRDIC) and Rice Growers' Association R & D committee got interested in Kaylock’s work and supported him to travel across the world to collect wisdom on best ways to grow rice. After traveling to Louisiana, Ohio and California, then across to the United Kingdom, Italy, France and South America, he learnt new ways to have tackle weed problems and improve their yields in direct drilled crops. He visited Louisiana, Ohio and California in the US before crossing over to the United Kingdom, Italy, France and South America where he learnt how planting cover crops can prevent cracks in the soil and ease seed germination. He also discovered a machine that measures chlorophyll and density levels in plants.
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Oryza Global Rice Weather Outlook Jul 03, 2014
Heavy rainfall is expected in the Yangtze valley and East of Southwest China during the next four days. Meanwhile, East of Northwest China, North and Northeast China will also get light rain during the period.Widely scattered to scattered rainfall is expected in most parts of Thailand during the next two days. Thereafter, heavy rainfall is expected in the Northeast, the East and the South West Thailand during the next three days. Last week, dryness persisted in Central Thailand, reducing moisture for summer rice crop.Rain is expected at some places in Kashmir, Islamabad, upper Punjab, upper Khyber Pakhtunkhwa (KP) and GilgitBaltistan, in Pakistan during the next two days. Dry weather in last week increased irrigation demands for rice crop in southern Pakistan.Light rainfall is expected to occur at most places over Dhaka, Rajshahi, Rangpur, Khulna, Barisal, Chittagong in Bangladesh. Separately, heavy rainfall is expected in Sylhet divisions today and tomorrow.Heavy rainfall is expected in North Sumatera, North and East Kalimantan, West Sulawesi and Northern part of Papua in Indonesia during the next three days.Heavy rainfall is expected in Eastern and North-eastern India during today and tomorrow. Thereafter, heavy rain is expected to occur at some places such as Uttar Pradesh, Bihar, West Bengal and coastal Karnataka on Saturday and Sunday. Separately, scattered rainfall is expected from coastal Maharashtra to coastal Kerala through Friday.By June 29, 9% of this year’s rice crop was at or beyond the heading stage in the U.S, 3 percentage points ahead of last year. Reports of leaf blast and sheaf blight were confirmed in Arkansas, and producers were applying mid-season and pre-flood nitrogen and herbicide to the rice crop, according to the USDA. Overall, 69% of the rice crop was reported to be in good to excellent condition, up slightly from last week and 3% above the same time last
Indian Scientists Discover Low GI Rice That’s Good for Diabetics Jul 03, 2014
Gurmatiya, an almost extinct rice variety with low glycaemic index and cultivated in Central India, could be the answer to the rice woes of diabetic patients, say scientists at the Indira Gandhi Agriculture University (IGAU), India.Dr Girish Chandel, professor the university’s Plant Molecular Biology and Biotechnology (PMBB) department, has found that Gurmatiya, cultivated in the central state of Chattisgarh, can regulate the release of glucose in the blood, thus controlling sugar levels in the body. Rice with GI of less than 55 is good for diabetics.Gurmatiya’s GI was found to be lower than that of Madhukar and Swarna varieties of rice developed by International Rice Research Institute in Philippines. However, not many farmers in Chattisgarh have stopped cultivating this variety due its low productivity.
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Gurmatiya, an almost extinct rice variety with low glycaemic index and cultivated in Central India, could be the answer to the rice woes of diabetic patients, say scientists at the Indira Gandhi Agriculture University (IGAU), India. Dr Girish Chandel, professor the university’s Plant Molecular Biology and Biotechnology (PMBB) department, has found that Gurmatiya, cultivated in the central state of Chattisgarh, can regulate the release of glucose in the blood, thus controlling sugar levels in the body. Rice with GI of less than 55 is good for diabetics.Gurmatiya’s GI was found to be lower than that of Madhukar and Swarna varieties of rice developed by International Rice Research Institute in Philippines. However, not many farmers in Chattisgarh have stopped cultivating this variety due its low productivity.
Oryza Overnight Recap - Chicago Rough Rice Futures Pull Back Slightly Overnight Following Yesterday's Rally Jul 03, 2014
Chicago rough rice futures for Sep delivery were paused 3.5 cents per cwt (about $1 per ton) lower at $13.655 per cwt (about $301 per ton) during the trading break in Chicago. The other grains are seen higher this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.3% higher, wheat is paused about 0.4% higher and corn is noted about 0.1% higher. U.S. stock index futures moved modestly higher and benchmark Treasury yields jumped on Thursday after the government reported the economy created a better-than-expected 288,000 jobs in June. The unemployment rate fell to 6.1%. Holding steady ahead of the jobs report, the yield on the 10-year Treasury jumped five basis points to 2.673% after the data. The European Union kept monetary policy unchanged as expected on Thursday following last month's measures to stimulate the economy. Released a day earlier due to the July 4 holiday, analysts polled by Dow Jones had forecast employers created 215,000 new jobs in June, after May's 217,000. The unemployment rate was seen unchanged at 6.3%. Employment hopes were boosted on Wednesday after ADP data showed companies added a much-larger-than-expected 281,000 new positions in June. Subsequently, the Dow and S&P 500 eked out minuscule gains to end at records. The day will be a quiet one for corporate reports. US stock index futures are currently seen trading about 0.1% higher, gold is currently trading about 1.1% lower, crude oil is seen trading about 0.5% lower, and the U.S. dollar is currently trading about 0.3% higher at 8:45am Chicago time.
Philippines NFA Floods Domestic Market with Rice, Hopes to Dampen High Prices Jul 03, 2014
The National Food Authority will take all possible measures to stabilize rice supplies and prices starting this month, according to a statement by a NFA senior official on the government website.He noted that the NFA is planning to release huge amounts of low-priced rice into the markets to address alleged hoarding of the staple
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by some traders, uncontrolled increases in prices and alleged shortage of rice in public markets across the country. He said the NFA is keen on doubling the rice distribution centers by opening more market outlets as well as “talipapas�, or flea markets in various areas. The NFA official explained that the state food agency has enough stocks and they would be further augmented by the imports from Vietnam, and can continue to supply increased amount of subsidized rice to markets until the end of this year. He stated that the NFA is making all arrangements to bring down prices of commercial rice thereby narrowing the price gap between the NFA and the commercial rice. This would automatically stabilize rice prices, he meant. He said NFA wants to cut down on unscrupulous trade practices such as some traders interchanging NFA labels with commercial ones as they would lead to price manipulations. He added that releasing more quantity of low-priced NFA rice in markets would help curtailing these kind of practices. Currently, the price of NFA regular-milled rice is between P25 - P27 per kilogram (around $572 - $618 per ton) and that of the NFA well-milled rice is between P30 - P32 per kilogram (around $687 - $733 per ton). The price of commercial rice sold in retail markets is between P45 - P48 per kilogram (around $1,030 - $1,099 per ton).
FAO Estimates 2014 Global Milled Rice Production at 503.6 Million Tons; Up 1% from Last Year The UN's Food and Agricultural Organization (FAO) has estimated 201 4 global rice production at around 503.6 million tons (around 755.4 million tons, basis paddy), up about 1% from an estimated 497.8 million tons (around 746.7 million tons, basis paddy)
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produced in 2013.
The UN agency expects production growth in Asia's main rice producers to be subdued at about 1% due to the impact of an El Nino. It expects most of the growth in Bangladesh, China, India, Indonesia, Myanmar and the Philippines, where government support to the sector is relatively strong. It expects rice production in Africa to increase 3.6% y/y due to expected record production growth in Madagascar. The FAO expects rice production in Latin America and the Caribbean to increase by 1.3% due to significant production increase in Brazil. The FAO lowered its estimates for 2014 global rice utilization at around 502.3 million tons, up about 2% from an estimated 490.4 million tons utilized in 2013. It estimates global per capita rice consumption at around 57.6 kilograms per person per year. The UN agency estimates 2015 global rice stocks at around 183 million tons, up about 1% from an estimated 181.6 million tons in 2014 due to increased production prospects.The FAO estimates 2015 global rice trade at around 39.3 million tons, slightly above an estimated 39.2 million tons traded in 2014. It has increased export estimates for Pakistan, Thailand, Australia, China, Guyana, Paraguay, Tanzania and the U.S, but has lowered for India by about 15%. On the import side, the FAO has increased import forecasts for Indonesia and Malaysia.
SDA Post Estimates Brazil to Export 950,000 Tons of Rice in MY 2013-14; Up 13% from Last Year Jul 03, 2014
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The USDA Post estimates Brazil to export around 950,000 tons of rice in MY 2013-14 (April 2014 - March 2015), up 13% from around 840,000 tons exported in MY 2012-13, due to expected increase in supplies from local production and imports during the year. Brazil exported around 918,050 tons of rice in 2013 (January December), down about 20% from around 1.152 million tons exported in 2012, according to Brazil Bureau of
Foreign Trade.
The Post estimates Brazil to import around 700,000 tons of rice in MY 2013-14, up about 9% from around 641,000 tons imported in the previous year. Brazil imports rice mainly from the other Mercosul countries
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(Argentina, Paraguay and Uruguay) as they are exempt from the 12% Common External Tariff (TEC). Brazil imported around 757,180 tons of rice in 2013 (January - December), up about 2% from around 740,370 tons imported in 2012, according to Brazil Bureau of Foreign Trade.
Can Rice DNA Analysis help Identify Origin of Food Materials? Jul 03, 2014
A recent research study by rice scientists of the Novara-based University of Eastern Piedmont in Italy says so. They say the research can help identify potential fraud and adulteration in various food items.A group of food chemistry researchers have sequenced the DNAs of different kinds of pigmented rice varieties based on their places of origination to form different clusters of rice DNAs. These clusters can help scientists to trace the quality and origin of any food product easily. They can also be useful in knowing the origin of food even if it is used as flour or in any other processed form such as noodles, pasta, etc., say researchers. Scientists say this technique could be more useful in countries like Italy, which give more importance to national feeling of food and prefer locally grown food to a greater extent. Of late, there are concerns that various types of foods labelled "Made in Italy" contain foreign food materials. Many a time, food ingredients are not grown in Italy but are named closer to Italian typical products. For instance "parmesan cheese" and "Grana Parrano" and are named to sound like Itlian cheese variants "Parmigiano Reggiano" and "Grana Padano". Similarly, "Real Asiago Cheese" made in the U.S. state of Wisconsin is confused with "Real Asiago Cheese" made in Italian town Asiago.
Asia Rice Quotes Unchanged Today Jul 03, 2014
Asia rice sellers kept their quotes mostly unchanged today. 5% Broken Rice Thai 5% rice (of new crop) is quoted at around $405 - $415 per ton, about $10 per ton lower than Viet 5% rice (of new crop) quoted at around $415 - $425 per ton. Indian 5% rice is quoted at around $430 - $440 per ton, on par with Pak 5% rice quoted at around $430 - $440 per ton. 25% Broken Rice Thai 25% rice (of the old crop) was last quoted at around $350 - $360 per ton, about $15 per ton lower than Viet 25% rice (of new crop) quoted at around $365 - $375 per ton.
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Indian 25% rice is quoted at around $390 - $400 per ton, about $15 per ton above Pak 25% quoted at around $375 - $385 per ton. Parboiled Rice Thai parboiled rice (of the old crop) is quoted at around $425 - $435 per ton. Indian parboiled rice is quoted at around $410 - $420 per ton, about $20 per ton lower than Pak parboiled rice quoted at around $430 - $440 per ton. 100% Broken Rice Thai broken rice, A1 Super, (of the old crop) was last quoted at around $310 - $320 per ton, about $20 per ton lower than Viet broken rice (of new crop) quoted at around $330 - $340 per ton. Indian broken sortexed rice is quoted at around $315 - $325 per ton, about $10 per ton lower than Pak broken sortexed rice quoted at around $325 - $335 per ton.
Oryza Global Rice Quotes July 3rd, 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 430-440 Cambodia 5% broken 440-450 U.S. 4% broken 550-560 ↔ Uruguay 5% broken 625-635 Argentina 5% broken 620-630
↔ ↔ ↔ ↔ ↔ ↔ ↔
Long grain white rice - low quality Thailand 25% broken Vietnam 25% broken Pakistan 25% broken Cambodia 25% broken India 25% broken U.S. 15% broken
NQ ↔ 365-375 375-385 410-420 390-400 530-540
↔ ↔ ↔ ↔ ↔
Long grain parboiled rice Thailand parboiled 100% stxd
425-435
↔
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Pakistan parboiled 5% broken stxd 430-440 India parboiled 5% broken stxd 410-420 ↔ 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 570-580 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 Cambodia A1 Super 350-360 ↔ India 100% Broken stxd 315-325 ↔ Egypt medium grain brokens NQ ↔ U.S. pet food 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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