4th September, 2014
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Brazil Paddy Rice Index Up Slightly from Last Week IGC Forecasts 2014 Global Rice Trade at 40 Million Tons, Up 5% from Last Year High Rice Prices to Continue Amid Short Supplies, Warns Philippines DA How Much Rice Should You Donate for the #RiceBucketChallenge? More Years, More Rice Oryza Global Rice Quotes Oryza Overnight Recap - Chicago Rough Rice Futures Seen Mixed as Other Grains Weigh on New Crop Futures Oryza Afternoon Recap - Chicago Rough Rice Futures Remain Under Pressure from Sliding Grain Prices Vietnam, India rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged South Korea Buys 9,090 Tons of Chinese Non-Glutinous Rice in Tender; Passes on Tender for 10,000 Tons Thai Attorney-General to Decide on Prosecution of Ex-Prime Minister Tomorrow Thailand to Sign New Rice MOU with Philippines USDA Post Forecasts Thailand 2014 Rice Exports at 9.5 Million Tons, Up 34% from Last Year
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Brazil Paddy Rice Index Up Slightly from Last Week Sep 03, 2014
The Brazilian paddy rice index maintained by CEPEA reached around 36.74 real per 50 kilograms as of September 1, 2014, up about 0.7% from around 36.49real per 50 kilograms recorded on August 25, 2014.In terms of USD per ton, the index reached around $329 per ton on September 1, 2014, up about 2.6% from around $321 per ton recorded on August 25, 2014.
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Tags: Brazil paddy rice index, Brazil CEPEA rice price index.
IGC Forecasts 2014 Global Rice Trade at 40 Million Tons, Up 5% from Last Year Sep 03, 2014
The International Grains Council (IGC) has estimated 2014 global rice trade at around 40 million tons, up about 5% from around 38 million tons in 2013 due to increased imports by Far East Asian countries such as China, Indonesia and the Philippines, as well as the African nations. On the imports side, the IGC is forecasting China's imports to increase about 3% to 3.2 million tons, Indonesia's imports to more than double to around 1.4 million tons and the Philippines imports to nearly triple to around 2.1 million tons.
It is also forecasting total rice imports to sub-Saharan Africa at 14.1 million tons, almost unchanged from last year. On the exports side, the IGC forecasts India's exports to decline 10% y/y to around 9.4 million tons and Thailand's exports to increase 36% y/y to around 9 million tons.The IGC is forecasting 2015 global rice trade to cross 40 million tons with increased purchases from China, Indonesia, the Philippines and the sub-Saharan African countries. It expects exporters such as India and Vietnam to face stiff competition from Thailand in 2015, and also forecasts Thailand to reclaim its world number one rice exporter status.The IGC estimates 2013-14 global rice production at around 476 million tons, up about 1% from around 472 million tons in 2012-13 due to improved output in South Asia, South America and subSaharan African countries. It is projecting 2014-15 global rice production to increase further to around 478 million tons due to increased output from China, Brazil and the U.S.
However, it expects India's output to decline 3% to around 103 million tons due to delayed monsoons in June - September 2014.It expects 2013-14 global rice consumption to increase to around 476 million tons, up about 2% from around 469 million tons in 2012-13 due to expected increased consumption in Asian countries including India and China. It estimates 2014-15 global rice consumption to further increase to 482 million tons due to expected increase in demand from African as well as North and Central American countries.The IGC expects 2013-14 world rice ending stocks to decline to around 109 million tons from around 110 million tons in the previous year.
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It expects inventories of major rice exporters to decline slightly to around 39.4 million tons, down 1% from around 39.7 million tons last year mainly due to higher stock depletion in India and Thailand. The IGC estimates 2014-15 global ending stocks to decline to around 105.4 million tons due to significant declines in India and Thailand. Ending stocks of major exporters are expected to decline 13% y/y to around 34.5 million tons. Tags: International Grains Council (IGC), global rice production, Global rice trade, Global rice consumption, Global rice stocks, Rice exports, Rice imports
High Rice Prices to Continue Amid Short Supplies, Warns Philippines DA
The Philippines Department of Agriculture (DA) has warned that high rice prices would continue until the new harvest begins to enter the market in October due to delay in government's procurement of additional supplies, according to local sources.The National Food Authority (NFA) has cancelled the bidding for 500,000 tons of 25% broken white rice imports as the bids were higher than expected. Due to this arrival of adequate quantities of rice is being delayed, said the Agriculture Assistant Secretary. The NFA is yet to announce the mode of importation of the said 500,000 tons.He also
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noted that paddy rice planting has been delayed in around 77,000 hectares of rain fed areas due to fears of El Nino. Farmers have postponed their planting to July and harvest the same in October.
Due to this delay in planting, he noted that third-quarter harvest is expected at around 3 million tons, down about 10% from around 3.3 million tons produced during the same period last year.Increased withdrawals from NFA warehouses to ensure adequate supplies in the market has reduced government's rice stocks to 14 days, which much below the 30-day threshold.All these factors have led to higher farm gate prices, he said. As of August 26, 2014, farm gate prices of paddy stood at around P21.3 per kilogram (around $488 per ton), up about 17% from around P18.2 per kilogram (around $417 per ton) during the same period last year. Domestic prices of regular and well-milled rice also increased sharply in July 2014 due to inadequate supplies and concerns regarding domestic crop losses following typhoon Glenda.USDA estimates Philippines MY 2014-15 (July June) paddy rice production at around 19.37 million tons (around 12.2 million tons, basis milled), up about 3% from around 18.75 million tons (around 11.8 million tons, basis milled) produced in the previous year. It estimates Philippines 2014-15 milled rice exports at around 1.6 million tons, up about 10% from last year.
Tags: Philippines rice prices, Philippines Department of Agriculture, Philippines Rice Production
How Much Rice Should You Donate for the RiceBucketChallenge? More Years, More Rice Sep 03, 2014 Growing old is inevitable. Growing up is optional, says Calvin in Calvin & Hobbes. Mughda Rane, a 25-year-old girl from Mumbai in central India, has proven that one can grow old, donate as many kilograms of rice as one is old and still make it sure they've had fun and grew up too. Mughda donated 25 kg rice to several people in Mumbai to celebrate her birthday as part of the current Indian online rage - the Rice Bucket Challenge.Check out Mughda in www.facebook.com/ricebucketchallenge and see how one can use rice donation as a good deed on one's birthday as a great way to grow up responsibly. The Rice Bucket Challenge, as you all know, is an initiative taken up by Orzya.com earlier this month.
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Tags: rice bucket challenge, Oryza, Rice, how to, rice news, birthday
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Oryza Global Rice Quotes September 3rd, 2014 Long grain white rice - high quality Thailand 100% B grade 440-450 Vietnam 5% broken 445-455 India 5% broken 440-450 Pakistan 5% broken 415-425 Cambodia 5% broken 465-475 U.S. 4% broken 535-545 Uruguay 5% broken 610-620 Argentina 5% broken 610-620
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Long grain white rice - low quality Thailand 25% broken NQ ↔ Vietnam 25% broken 400-410 Pakistan 25% broken 370-380 Cambodia 25% broken 450-460 India 25% broken 390-400 U.S. 15% broken 525-535
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Long grain parboiled rice Thailand parboiled 100% stxd 430-440 ↔ Pakistan parboiled 5% broken stxd 440-450 India parboiled 5% broken stxd 430-440 ↑ U.S. parboiled 4% broken 630-640 ↔ Brazil parboiled 5% broken 595-605 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 1050-1060 Vietnam Jasmine 580-590 ↑ India basmati 2% broken NQ ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 880-890 ↔ Brokens Thailand A1 Super NQ ↔ Vietnam 100% broken 340-350 ↔ Pakistan 100% broken stxd 330-340 Cambodia A1 Super 360-370 ↔ India 100% Broken stxd 345-355
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↔
Egypt medium grain brokens U.S. pet food 470-480 Brazil half grain NQ
NQ ↔ ↔
Medium grain milled U.S. Calrose 4% broken Egypt medium grain 6%
1025-1035 NQ ↔
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All prices USD per ton, FOB vessel, oryza.com
Oryza Overnight Recap - Chicago Rough Rice Futures Seen Mixed as Other Grains Weigh on New Crop Futures Sep 03, 2014
Chicago rough rice futures for Nov delivery are seen 2 cents per cwt (about $0.44 per ton) higher at $12.630 per cwt (about $278 per ton) ahead of floor trading in Chicago. The other grains are seen lower this morning: soybeans are currently seen 0.5% lower, wheat is listed about 1.8% lower and corn is noted about 1% lower. U.S. stock index futures and European indexes traded higher on Wednesday amid the possibility of a "cease-fire" between Russia and Ukraine. Mutual understanding was achieved concerning the steps which will enable the establishment of peace," the Ukrainian presidential press office said on Wednesday, following a telephone conversation between President Petro Poroshenko and Russian premier, Vladimir Putin. However, the press office later toned down the statement after Russia denied the deal.
The focus in the U.S. on Wednesday will be July factory orders, with August vehicle sales data also due to be released. The former are expected to show record growth of more than 10% on the month, with durable goods orders already known to have jumped by 22.6% in July, in part due to surging aircraft orders. Domestic vehicle sales for July appear on track to have picked up further, and now stand at around pre-crisis levels. U.S. stocks mostly fell on Tuesday, but the S&P 500 held above 2,000 after hitting another intraday record. U.S. stock index futures are currently trading about 0.4% higher, gold is currently trading about 0.2% higher, crude oil is seen trading about 1.3% higher, and the U.S. dollar is currently trading about 0.1% lower at 8:45am Chicago time. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
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Oryza Afternoon Recap - Chicago Rough Rice Futures Remain Under Pressure from Sliding Grain Prices Sep 03, 2014 Chicago rough rice futures for Nov delivery settled 8.5 cents per cwt (about $2 per ton) lower at $12.525 per cwt (about $276 per ton). Rough rice futures remain under pressure as the market prepares for a large harvest and as outside markets provide downward pressure. The other grains closed sharply lower today; soybeans closed about 1.2% lower at $10.2000 per bushel; wheat finished about 3.7% lower at $5.2350 per bushel, and corn finished the day about 3.2% lower at $3.5200 per bushel. U.S. stocks traded mixed on Wednesday amid economic data and announcements from central banks. The Fed released its Beige Book, a monthly report on economic situations in each of the Fed's twelve districts, finding modest to moderate expansion. The European Central Bank is scheduled to hold its monthly policy meeting on Thursday and may announce the launch of a bond buying program. Earlier, stocks had opened positive on the possibility of a cease-fire between Ukraine and Russia. Boosted by transports, July factory orders rose 10.5%, signifying a trend of stronger manufacturing. The Dow Jones Industrial Average rose 42 points, or 0.25%, at 17,110. The S&P 500 traded flat near 2,003, with utilities leading the seven advancing sectors and information technology hit by Apple's decline. The Nasdaq lost early gains to trade 16 points lower, or 0.35%, at 4,582. Gold is trading about 0.5% higher, crude oil is seen trading about 3% higher, and the U.S. dollar is seen trading about 0.1% lower at about 1:00pm Chicago time. Tuesday, there were 573 contracts traded, down from 806 contracts traded on Friday. Open interest – the number of contracts outstanding – on Tuesday increased by 59 contracts to 8,802. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Vietnam, India rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Sep 03, 2014
Vietnam rice sellers increased their quotes for Jasmine rice by about $5 per ton to around $580 - $590 per ton today. India rice sellers increased their quotes for 5% broken rice and parboiled rice by about $5 per ton each to around $440 - $450 per ton and around $430 - $440 per ton respectively. Other Asia sellers kept their quotes mostly unchanged today .
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5% Broken Rice Thailand 5% rice is quoted at around $425 - $435 per ton, about $20 per ton discount to Vietnam 5% rice quoted at around $445 - $455 per ton. India 5% rice is quoted at around $440 - $450 per ton, up about $5 per ton from yesterday, and about $25 per ton premium on Pakistan 5% rice quoted at around $415 - $425 per ton. 25% Broken Rice Thailand 25% rice was last quoted at around $350 - $360 per ton, about $50 per ton discount to Vietnam 25% rice quoted at around $400 - $410 per ton. India 25% rice is quoted at around $390 - $400 per ton, about $20 per ton premium on Pakistan 25% rice quoted at around $370 - $380 per ton. Parboiled Rice Thailand parboiled rice is quoted at around $430 - $440 per ton. India parboiled rice is quoted at around $430 - $440 per ton, up about $5 per ton from yesterday and about $10 per ton discount to Pakistan parboiled rice last quoted at around $440 - $450 per ton. 100% Broken Rice Thailand broken rice, A1 Super, was last quoted at around $310 - $320 per ton, about $30 per ton discount to Vietnam broken rice quoted at around $340 - $350 per ton. India broken sortexed rice is quoted at around $345 - $355 per ton, about $15 per ton premium on Pakistan broken sortexed rice quoted at around $330 - $340 per ton. Tags: Vietnam rice prices, India rice prices, Thailand rice prices, pakistan rice prices
South Korea Buys 9,090 Tons of Chinese NonGlutinous Rice in Tender; Passes on Tender for 10,000 Tons Sep 03, 2014
South Korea's state run Agro-Fisheries & Food Trade Corporation (KAFTC) has purchased 9.090 tons of nonglutinous rice of Chinese origin for delivery by December 31, 2014, according to a notice on its website.The results are for tender that closed on August 25, 2014. The KAFTC will buy 6,980 tons of short/medium grain milled rice at about $998 per ton and 2,110 tons of short/medium grain milled rice at about $997 per ton.The KAFTC originally issued tenders to buy 47,378 tons of non-glutinous rice from China and the U.S. On August 27, KAFTC purchased 28,288 tons of non-glutinous rice of Chinese and the U.S. origins for delivery between December 15-31, 2014.The Korean agency passed on tender for the remaining 10,000 tons of medium type milled rice saying conditions were unmet.
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Tags: South Korea rice tender, South Korea Agro-Fisheries Corporation (KAFTC), Non-glutinous rice, Milled Rice, brown rice
Thai Attorney-General to Decide on Prosecution of Ex-Prime Minister Tomorrow Sep 03, 2014
The Office of the Attorney-General (AG) in Thailand will have to decide by tomorrow whether to prosecute the former Prime Minister Yingluck Shinawatra based on the existing evidences provided by the National AntiCorruption Commission (NACC) or seek more evidences from the NACC, according to local sources. The former PM is facing charges of ignoring warnings against misdealing in the controversial rice pledging scheme, which brought losses of about 500 billion baht (around $15.6 billion) to the exchequer. A constitutional organic law related to holders of political positions mandated the AG to prosecute the accused politician after receiving the case from the NACC within 30 days, said the Deputy Spokesperson of the Office of the AG. She noted that the 30-day time frame ends tomorrow. If the AG is satisfied with evidences and decides to continue with the Ex-PM's prosecution, the AG would announce the same at a press conference, she told local sources. If he needs more evidences, he would forward the case back to the NACC, she added. A team of prosecutors have reportedly examined the case and have submitted their findings to the AG. Tags: Thai rice pledging scheme, Yingluck Shinawatra, Office of the Attorney-General
Thailand to Sign New Rice MOU with Philippines Sep 03, 2014
Thailand's Commerce Ministry will sign a new Memorandum of Understanding (MOU) with the Philippines government committing to sell one million tons of rice annually to the Philippines from 2014-2016, according to local sources.The National Council for Peace and Order (NCPO) authorized the Commerce Ministry to sign the new MOU, which will allow Thailand to participate in all the rice auctions conducted by the Philippines as well as under government-to-government (G2G) deals.In January - July 2014, Thailand sold around 126,866
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tons of rice to the Philippines, almost 14 times of around 8,884 tons sold during the same period last year, according to data from the TREA. Thai Commerce Ministry is aiming to sell around 1.45 million tons of rice to the Philippines this year. It sold 120,000 tons and 767,000 tons respectively in 2012 and 2013.Thai exporters say the Philippines government has shifted to buying rice from Vietnam for the last couple of years as the rice pledging scheme made Thai rice less competitive. The scheme had set rice mortgage prices higher than market prices and effectively Thai export price also shot up prompting many buyers to shift to cheaper rice from Vietnam or India. The President of the Thai Rice Exporters Association (TREA) expects the new MOU to help them re-establish their lost market in the Philippines. Thailand sold 5.62 million tons of rice in the first seven months of 2014, up about 55% from around 3.63 million sold during the same period last year.Local sources say the NCPO has decided to extend the existing MOU, which is due to expire by the end of 2015, by another year. Tags: Thailand-Philippines Rice MOU, Thailand rice exports, Philippines rice imports
USDA Post Forecasts Thailand 2014 Rice Exports at 9.5 Million Tons, Up 34% from Last Year Sep 03, 2014
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USDA Post has forecasted Thailand's 2014 rice exports to increase to around 9.5 million tons, up about 34% from around 6.7 million tons last year and up about 5.5% from USDA's official estimates of around 9 million tons.The Post attributes the expected increase to competitive prices of Thai rice, which resulted from sales of government stocks, as well as tight supplies of Vietnamese rice. The Thai government auctioned off nearly 4 million tons of rice in January - May 2014 before the military government took over on May 24, 2014.Thailand sold around 5.6 million tons of rice in January - July 2014, up about 56% from around 3.6 million tons exported in same period last year.
The Post expects the pace of exports to continue in the second of 2014 as well due to increased demand from China, Indonesia and the Philippines as well as abundant supplies from the MY 2014-15 crop that will enter the market from October.Prices of Thai 5% broken rice presently stand at around $430 per ton, close to Vietnamese prices. They fell to around $395 per ton in May 2014 due to excessive sales by the Thai government, and increased after the military government halted rice sales to carry out nationwide inspection of rice stocks. The Post estimates Thailand's MY 2013-14 (January 2014 - December 2014) paddy rice production at around 31 million tons, slightly up from around 30.6 million tons produced last year. Tags: Thailand rice exports, Thailand rice production, Thailand rice sales. Thailand rice prices
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