9th July, 2014
Chinese COLOR SORTER as low as Pak Rs 22 Lakh Only A Time Limited Offer Contact: Cell: 0300 414 3493
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
Share developments in RICE and allied sectors, Promote the Concept of Knowledge Economy Dear Sir/Madam,
YOUR IDEA has a great worth---JUST share it through RICE PLUS 10000+ stakeholders of rice industry read & apply various ideas and analysis written by the authors.
Be the part of Rice plus authors Visit: www.ricepluss.com,www.publishpk.net mujahid.riceplus@gmail.com riceplus@irp.edu.pk
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
TOP Contents - Tailored for YOU Latest News Headlines…
Oryza U.S. Rough Rice Recap - Steady Market as Buyers and Sellers Wait for Better Prices Oryza June 2014 Rice Market Review Oryza Rice Currency Analysis for Today – Brazil Real Advances 0.6% Oryza Afternoon Recap - Chicago Rough Rice Futures Move Higher as Shorts Hold out on Registering New Receipts What if EU Does Not Reconsider Duty Free Rice Imports from LDCs? Riso Italiano Shares its Views with Oryza Will 2016 Be the Year of Golden Rice? Missing Rice Bags, Poor Quality Rice Scam Rocks Thai Paddy Sector Over 87% of Italy 2013-14 Paddy Crop Sold as of July 1, 2014; Three Months Until New Crop Harvest Vietnam Exports 585,346 Tons of Rice in May 2014; Up 9% m/m and Down 9% y/y Oryza Overnight Recap - Chicago Rough Rice Futures Bounce Higher Overnight on Support from Other Grains Pakistan Plans to Strengthen Rice Export Ties with China Nigeria Lowers Import Duty on Rice Under New Three-Year Fiscal Policy Measure Asia Rice Quotes Unchanged Today Cambodia Exports 177,928 Tons of Rice in January-June, 2014; Up 1% from Last Year Brazil Paddy Rice Index Declines Slightly From Last Week Philippines Mulls New Rice Policy with More Imports and No Subsidies European Farmers Federation Collaborates with IBMA to Develop Plant Protection Solutions in EU Oryza Global Rice Quotes
News Detail… Oryza U.S. Rough Rice Recap - Steady Market as Buyers and Sellers Wait for Better Prices Jul 08, 2014
The U.S. cash market held steady today with very little trade activity as buyers and sellers continue to hold out for better prices.As of today, old crop offers could still be found near $15.55 per cwt fob farm (about $343 per ton) for July shipment although a few sellers are hoping to net around $16.00 per cwt fob farm (about $355 per ton) before the end of the marketing year.
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
Bids from exporters were unchanged around $14.70 per cwt (about $324 per ton) for July delivery while some smaller mills were still said to be paying around $15.90 per cwt (about $351 per ton) for the same delivery period although no trades were reported.
Oryza June 2014 Rice Market Review Jul 08, 2014
The Oryza White Rice Index, a weighted average of global white rice export quotes, ended the month of June at $461 per ton, up $1 per ton from a month ago and down $13 per ton from a year ago. Asian quotes remained fairly stable in June. Only in Thailand did rice quotes have some momentum, due to temporary suspension of rice sales from government stocks. The IGC has estimated 2014 world rice trade at a record 40 million tons, up about 5% from 38 million tons in 2013 due to increased imports by Far East Asian and African countries. The IGC estimates 2013-14 global rice production at about 476 million tons, up about 1% from about 472 million tons in 2012-13 mainly due to improved harvests in India, Vietnam and Pakistan.
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
And world rice ending stocks in 2013-14 is expected to decline to about 109 million tons from about 110 million tons in the previous year, according to the IGC. Thailand Thailand 5% broken rice ended the month of June at about $385 per ton, up about 1% from a month ago and down about 20% from a year ago. Thailand’s general election may be held October 2015 and interim cabinet is expected by September 2014, Thailand military government announced at end of June. Separately, the Bank of Agriculture and Agricultural Cooperatives in Thailand has completed all the outstanding payments to rice farmers five days ahead of the scheduled date of June 22, 2014, according to local sources. The bank had paid about 90 billion baht (about ($2.8 billion) to about 800,000 farmers, who pledged paddy rice from the 2013-14 main crop (October 2013 February 2014) since the military junta has taken over on May 22 and prioritized payments to rice farmers. The Thai military government has announced cultivation subsidy and soft loans as measures to help rice farmers after recently abandoning the populist rice pledging scheme, according to local sources. The Bank of Agriculture and Agricultural Cooperatives has also offered about 137 billion baht (about $4 billion) loans to rice farmers as a part of the military government's plans to provide measures such as cultivation subsidy and soft loans to help rice farmers. Meanwhile, the Thai Rice Exporters Association expected that Thailand will export about 9 million tons rice in 2014. Thailand paddy rice production is estimated to reach about 38.8 million tons in crop year 2014-15 (January 2014 - December 2014), slightly more than the estimated 38.79 million tons in 2013-14, despite a 1% decline in planted area this year, according to data from the Office of Agricultural Economics . In beginning of the month, Thailand's National Anti-Corruption Commission will probe assets and liabilities of the former Prime Minister, Yingluck Shinawatra, two of her former Commerce Ministers and two of her Deputy Commerce Ministers who were involved in framing policy for rice pledging scheme as well as sale of rice stocks, according to local sources. India India 5% broken rice ended the month of June at about $435 per ton, up about 1% from a month ago and down about 2% from a year ago. India’s rice stocks in the central pool as of June 1, 2014 were about 28.03 million tons (including a milled equivalent of about 11.361 million tons of paddy), down about 16% from about 33.306 million tons recorded during the same time last year and double the required buffer and strategic reserve norms of about 14.2 million tons for this time of the year, according to data from the Food Corporation of India.
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
Meanwhile, India exported a total of 10.78 million tons of rice in fiscal year 2013-14 (April 1, 2013 - March 31, 2014), up about 6% from about 10.15 million tons exported in FY 2012-13, according to data from the Agricultural and Processed Food Products Export Development Authority (APEDA) in India. The Indian government is planning to release about 5 million tons of rice from central reserves into the open markets, to prevent rice price hikes due to likely El Nino-triggered poor monsoons, according to sources. Separately, the Indian government has increased the minimum support price (MSP) for paddy rice to about Rs.1,360 per quintal ($226 per ton), up about 3.8% from about Rs.1,310 per quintal (about $218 per ton) for common grade paddy and the MSP for Grade 'A' paddy to about Rs.1,400 per quintal (about $233 per ton), up about 4% from about Rs.1,345 per quintal (about $223 per ton), for the 2014-15 crop year (October September). Meanwhile, some analysts are expecting India wholesale rice prices to remain stable in 2014 despite belownormal monsoon as predicted by the Indian Meteorological Department, as the government has enough rice stocks. Separately, the Indian Meteorological Department has predicted a 60% probability of El Nino occurring this monsoon season (June - September). However, The Indian government is ready with contingency plans for dealing with El Nino triggered poor monsoon rains, according to the Indian Agriculture Minister. The Indian state of Punjab, the largest producer of basmati rice in the country, has proposed to double area under basmati to one million hectares from the current 500,000 hectares, and cut-down area under non-basmati paddy by about 120,000 hectares over the next couple of years, because some new high-yielding basmati variety will require less irrigation than common rice, according to local sources. Vietnam Vietnam 5% broken rice ended the month of June at about $410 per ton, up about 1% from a month ago and up about 11% from a year ago. Vietnam exported about 3 million tons of rice in first half of the year 2014, down about 14% from about 3.5 million tons of rice exported during same time last year, according to data from the Vietnam Food Association (VFA). The average rice export price so far in this year stands at about $432 per ton (FOB), up about $1 per ton from about $431 per ton recorded during same time in last year. The Vietnam government has issued a blueprint to develop domestic rice market as well as expand trade promotion activities to increase Vietnamese rice exports, according to local sources. In this plan the government will study the current and past rice export situation and will recommends solutions to expand exports in the future. They will also work towards striking a balance between the domestic market's supply and demand for commercial rice and exports markets. Pakistan
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
Pakistan 5% broken rice ended the month of June at about $445 per ton, down about 3%from a month ago and up about 5% from a year ago. According to the FAO, Pakistan is expected to export about 3.3 million tons of rice in 2014, up about 5% from last year. The FAO estimates that Pakistan will produce about 9.8 million tons paddy in 2014, up about 2% from last year. Meanwhile, The National Space Agency of Pakistan (SUPARCO) has estimated Pakistan FY 2013-14 (July - June) milled rice production at about 7 million tons from an estimated area of about 2.879 million hectares and an estimated yield of about 2.5 tons per hectare. Separately, Pakistan's opposition party, also urged the government to fix minimum support price (MSP) for basmati rice at Rs.3,000 per 40-kilogram bag, or Rs.75,000 (about $755) per ton to help rice farmers and exporters become more competitive versus Indian and Thai exporters, according to local sources. The party leader also urged the government to fix the MSP for non-basmati IRRI rice at Rs.1,500 per 40-kilogram bag, or Rs.37,500 (about $378) per ton. Meanwhile, Pakistan rice sector has been ignored in the recently announced budget despite it being the second largest foreign exchange earner. The Pakistan Agricultural Storage and Services Corporation is planning to re-open tender to sell about 201,000 tons of rice, as the previous tender fetched too low price, according to local sources. Cambodia Cambodia 5% broken rice ended the month of June at about $445 per ton, up about 1% from a month ago. Cambodia has joined hands with Thailand to build a state-of-the art rice milling and refining factory with an estimated investment of about $50 million according to some local sources. The factory will be operational by the first quarter of 2015 and will be capable of processing about 300,000 tons of rice annually. Separately, Cambodia rice exporters fear that the Indian government's decision to release 5 million tons of rice in the open market to control price hikes may have a spillover effect on global rice exports, according to local sources. Meanwhile, the Acting Secretary of the Cambodian Rice Federation told local media sources though it is immediately difficult to assess the impact of India's move on Cambodia's exports; he expressed concern that the move will affect global rice prices. Brazil According to CONAB, Brazil paddy rice production is expected to reach at about 12.25 million tons, up about 4% from about 11.82 million tons produced in last year. Meanwhile, Brazil has exported about 557,063 tons of rice in January - May 2014, up about 35% from about 412,639 tons exported during the same period last year, according to data released by the Rice Institute of Rio Grande do Sul (IRGA). U.S.
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
U.S. 4% broken rice ended the month of June at about $575 per ton, down about 2% from a month ago and down about 7% from a year ago. The U.S. International Trade Commission, an independent, nonpartisan, fact-finding federal agency, has launched an investigation to study global competitiveness of the U.S. rice industry, on request from the U.S. Trade Representative, the House Committee on Ways and Means. The agency will hold a public hearing as part of the study on September 10, 2014, and will also encourage written submissions related to the study before December 9, 2014, which would be made available for public inspection. The agency will focus its study during the period 2009 - 2013 and will submit its findings to the Committee by April 14, 2015. China According to the FAO, China's paddy rice production is expected to reach at about 207.440 million tons in 2014, up about 2% from last year due to higher plating area expected favorable weather conditions and continued government support to the rice sector. Meanwhile according to data from China Customs General Administration, China has imported about 1.08 million tons rice in January-May, 2014, down about 7% during the same period in last year and exported about 63,771 tons of rice in January - May 2014, down about 75% from about 256,623 tons exported during the same period in 2013. Philippines Total rice stocks in the Philippines as of May 1, 2014 reached at about 2.52 million tons, up about 16% from about 2.18 million tons recorded in April 2014, and down about 3% from about 2.61 million tons recorded in May 2013, according to the Philippines Bureau of Agricultural Statistics. In beginning of the month, the Philippines government unveiled the road map for its new rice sufficiency program, under which it targets to produce about 19.07 million tons of paddy rice in 2014, up about 3.4% from about 18.44 million tons produced in 2013, according to local sources. Separately, the Philippines is set to import another 250,000 tons of rice in 2014 supplementing the 800,000 tons of rice already being imported from Vietnam to boost the current buffer stock and control increasing prices, according to local sources. The World Trade Organization Committee on Trade and Goods (WTO-CTG) has allowed the Philippines to continue imposing quantitative restrictions (QRs) on rice imports until 2017, which expired in June 2012; the Philippines Agriculture Secretary was quoted as saying in a media briefing. The Philippines has also reduced tariffs on rice imported under the Minimum Access Volume (MAV) to 35% from the previous 40%, according to local sources. Europe European Union milled rice production is expected to decline to about 1.78 million tons in the MY2013-14 (September 2013 - August 2014), down about 6% from about 1.89 million tons produced in MY 2012-13, according to the latest balance sheet published by the EU Directorate General for Agriculture and Rural Development. Meanwhile, the European
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
Union has imported about 820,438 tons of milled rice in September 1, 2013 - June 17, 2014, up about 17% from about 701,855 tons imported during the same period last year, according to the EU data. Separately, in an attempt to support national rice growing sector, Italy is against duty free import of rice by the European Union from Cambodia. Other Markets The Japan International Cooperation Agency (JICA), which is assisting the Nigerian government toward achieving selfsufficiency in rice production and banning rice imports by 2015, is currently focusing on providing access to quality rice seeds of improved rice varieties to Nigerian farmers, according to local sources. The JICA said that a good rice seed sector is important for Nigeria to achieve its target. Rwanda has increased tariffs on rice imported from outside the East African Community (EAC), of which Rwanda is a member, to 45% from the current 30% to protect local farmers, according to local sources. Rice industry officials and analysts are expecting Indonesia to more than double its rice imports to about 1.5 million tons in 2014 from an estimated 700,000 tons imported in 2013 ahead of a general election and El Nino, according to some local sources. Analysts expect that the outgoing administration could ease its rice sufficiency-targets and import about 1.5 million tons of rice to prevent food inflation and social unrest in the country. Meanwhile, the IRRI said, there are lapses in the rice strategy of Indonesia, according to local sources. It added that Indonesia is the world's third largest rice producer but it needs to import rice every year due to increasing consumption and inefficient production techniques. The IRRI said that Indonesia needs to focus on increasing production in line with growing consumption needs and become self-sufficient in rice production. Separately, the Indonesian government has decided to amend its "Rice for the Poor" program (Raskin) based on recommendations by the Corruption Eradication Commission (KPK), according to local sources. South Korea may have to reduce its own rice production this year as the country is likely to face a rice surplus, thanks to increase in imports and a decline in the country's rice consumption, as the country's self-sufficiency rate for rice may touch 92% this year, crossing the 90% mark of the last four years, according to some local sources. Meanwhile, South Korea has excluded rice and other rice related products from the Korea-Colombia Free Trade Agreement. Separately, a survey conducted in a South Korea showed that nearly 83.2% of respondents preferred locally produced rice to imported rice, 2.2% of them consumed imported rice occasionally or regularly, and 4.1% of them liked to consume imported rice in near future. Separately, South Korea will also announce its stance on rice import market liberalization before the end of July 2014 as the country's current import quotas expire at the end of this year and it has to specify to the World Trade Organization whether it would continue with the quotas or would liberalize the rice sector imposing high tariffs before September 2014. Australia's paddy rice production in MY 2013-14 (April 2013 - March 2014) is estimated to decline to about 825,000 tons, down about 29% from about 1.161 million tons produced in MY 2012-13, according to data from the Australian Bureau of Agricultural and Resource Economics and Sciences.
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
FAO estimates that Sri Lanka will produce about 3.9 million tons paddy in 2014, down about 16% from about 4.62 million tons produced in 2013, due to significant reduction in the output from the 2013-14 Maha crop, which contributes to over 60% of the country's annual paddy rice production. Meanwhile, according to the government sources, Sri Lanka will import about 100,000 tons of rice to meet the requisite demand and curb price increases in the domestic market. According to the Bangladesh Food Ministry, the country imported about 374,560 tons of rice in FY 2013-14 (July 2013 June 2014) as on June 5, 2014, up about 13 times from about 28,812 tons imported during the same period in FY 2012-13. Separately, the Bangladesh Rice Research Institute has introduced "Food Yield Gap Minimization" projects to boost Bangladesh paddy production by 7.3 million tons, according to local sources. Bangladesh has also extended the ongoing ban on non-fragrant rice exports to the fiscal year 2014-15 (July 1, 2014 - June 30, 2015) in order to ensure supplies and control price hikes in the local market, according to a gazette notification issued by the Commerce Ministry last week, local sources report.
Oryza Rice Currency Analysis for Today – Brazil Real Advances 0.6% Jul 08, 2014
U.S. dollar index was down -0.05% from the open today, when it traded at 80.174 at the close. Euro was stronger +0.05% by the close, trading around 1.3611 by end of day, after trading between an intraday high of 1.3617 and low of 1.3588. Thai baht was stronger +0.09%, trading at 32.385 at the close of business. Indian rupee was stronger +0.38% at 59.7887. Brazilian real was stronger +0.56% at 2.2125 reais per dollar. Pakistan rupee was -0.10% weaker at 98.8915. Vietnamese dong was stronger +0.06% at 21263. Mexican peso was stronger +0.23% today, when it traded at 12.9896 pesos per dollar by the close of business. Chinese yuan was stronger +0.02% at 6.2020. Argentine peso was weaker -0.05% at 8.1432 pesos per dollar.
Oryza Afternoon Recap - Chicago Rough Rice Futures Move Higher as Shorts Hold out on Registering New Receipts Jul 08, 2014
Chicago rough rice futures for Sep delivery settled 8.5 cents per cwt (about $2 per ton) lower at $13.700 per cwt (about $302 per ton). The other grains finished the day lower; soybeans closed about 0.8% lower at $11.1625
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
per bushel; wheat settled about 0.1% lower at $5.5625 per bushel, and corn finished the day about 0.5% lower at $4.0425 per bushel.U.S. stocks skidded lower on Tuesday, extending the prior day's drop from last week's records, as investors braced for quarterly earnings and considered valuations. Small-cap companies were hit for a second session, with the Russell 2000 falling 1%, after Monday's 1.8% decline. After falling as much as 149 points, the Dow Jones Industrial Average was more recently down 87.21 points, or 0.5%, to 16,937. The S&P 500 declined 10.49 points, or 0.5%, to 1,967.16, with telecommunications pacing sector declines and utilities faring best among its 10 major industry groups. The Nasdaq fell 51.91 points, or 1.2%, to 4,399.62. Gold is trading about 0.1% higher, crude oil is seen trading about 0.2% lower, and the U.S. dollar is seen trading about 0.1% lower about 12:00pm Chicago time.Monday, there were 171 contracts traded, up from 168 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 49 contracts to 8,029.
What if EU Does Not Reconsider Duty Free Rice Imports from LDCs? Riso Italiano Shares its Views with Oryza Jul 08, 2014
If the European Union (EU) does not reconsider its stance of stopping duty-free rice imports from Less Developed Countries (LDCs) such as Cambodia under the Everything but Arms (EBA) clause by next year, or initiate a safeguard measure, the Italian rice growing area will shrink, warns www.risoitaliano.eu. The Italian government has submitted a dossier to the EU highlighting negative aspects of continuing the dutyfree rice imports under the EBA clause. It is understood that the EU is not in a hurry to do away with the EBA clause or begin negotiations with Cambodia over imposing import tariffs. While Spain and Romania have been supporting Italy's argument, northern European Union countries are unwilling to compromise the humanitarian policy of EBA to defend a small sector such as rice growing area, especially in Italy. Prices of Italian rice varieties have been declining to compete with cheap Cambodian imports. The Italian dossier also stated that Italy's geo-ecological balance would be under threat if rice is not grown. It also highlighted about the risk of bankruptcy (mostly for the rice industry, dual wire linked with agriculture) and indicated that level of 195 euro (around $258) per ton is unsustainable for the current costs of rice production in Italy. However, a further delay by the EU may lead to more protests by Italian farmers. Already Italian farmers have started showing their dissent for the EU by occupying and blocking local grain exchanges saying Brussels is not defending them against duty-free imports of milled rice from Cambodia.
Will 2016 Be the Year of Golden Rice? Jul 08, 2014
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
The wait is almost over. It may take just about two more years - in 2016 to be precise – before Golden Rice, the controversial bright yellow rice fortified with Vitamin A - could find place on your dining table, said Antonio Alfonso, a researcher from the Philippine Rice Research Institute.The $ 30 million Golden Rice project currently awaits clearance on various fronts - safety for health and the environment; if the vitamin can indeed show its efficacy when eaten with rice; environmental clearance from the GM point of view; if rice eaters would find it tasty enough; if farmers would be willing to grow it in their farms and other such concerns. It was way back in 1992 that two scientists mooted the idea of inserting genes which could boost Vitamin A content into rice to ensure millions of poor people have access to this vitamin-enriched rice that can prevent blindness.Bruce Tolentino, deputy director general of the Philippines-based International Rice Research Institute (IRRI) says the future of Golden Rice will depend on the regulatory authorities.
Missing Rice Bags, Poor Quality Rice Scam Rocks Thai Paddy Sector Jul 08, 2014
The Thailand police seemed to have unearthed a full-fledged rice scam in the central and northern provinces of Pathum Thani and Phichit on Tuesday. Among the irregularities were 90,000 missing bags of rice, inferior quality rice being passed off as superior; lesser than specified quantity of rice in several silos; broken milled rice in place of what was claimed to be 5% milled rice etc. The police also found that some of the rice was found to be older than what it was claimed as in the warehouse report, indicating a rice scam in the country. Starting Tuesday till July 22, a special investigation team will inspect 11 warehouses in Bang Rakam district, eight in Bang Krathum and 10 in Wat Bot district, the police announced. The warehouses have been locked using extra locks to prevent any tampering with the pledged rice until the team gets underway with the investigation.
Over 87% of Italy 2013-14 Paddy Crop Sold as of July 1, 2014; Three Months Until New Crop Harvest Over 87%, or around 1.26 million tons of total Italian 2013-14 paddy crop is sold out as of July 1, 2014, down about 11% from around 1.4 million tons sold during the same period last year. Around 184,906 tons of rice is remaining from the 2013-14 crop and three months is remaining before the new harvest.hile about 93% of Long A variety is sold out, only 79.5% of Long B is sold. However, last year by this time, more of Long B variety (about 87.7%) was sold out compared to Long A variety (about 83.9%). In the week June 24 - July 1, 2014, a total of 26,272 tons of paddy were sold, including about 728 tons of Long A and about 10,762 tons of Long B. About 8,989 tons of round paddy was sold during the week. Nearly 87.9% or 346,740 tons of round paddy was sold since the beginning of crop year (September 1, 2013), up about 3% from around 335,459 tons sold during the same period last year.
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
About 793 tons of medium paddy was sold during the week. Nearly 85.4% or 24,532 tons of medium paddy was sold since the beginning of crop year (September 1, 2013), down about 34% from around 36,963 tons sold during the same period last year.Around 9,000 tons of paddy (all varieties) from the 2012-13 crop year were available as beginning stocks for the 2013-14 crop year. A total of around 1.45 million tons of paddy was available as beginning stocks in 2013-14, down about 12% from around 1.65 million tons available last year.
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
Vietnam Exports 585,346 Tons of Rice in May 2014; Up 9% m/m and Down 9% y/y Vietnam's rice exports increased to around 585,346 tons in May 2014, up about 9% from around 538,623 tons exported in April 2014, and down about 9% from around 645,998 tons exported in May 2013, according to USDA.
Asia accounted for about 497,526 tons or about 85% of total rice exports by Vietnam in May 2014, up about 41% from around 352,778 tons in April 2014, and around 27% from around 391,647 tons in May 2013. Vietnam exported around 35,008 tons of rice to Africa in May 2014, down about 66% from around 101,779 tons in April 2014, and down about 81% from around 181,287 tons in May 2013. Vietnam exported around 42,961 tons to American destinations in May 2014, down about 40% from around 71,693 tons in April 2014, and down about 16% from around 50,973 tons in May 2013. Vietnam's exports to Europe and CIS countries accounted for around 9,054 tons, down about 15% from around 10,660 tons in April 2014 and down 57% from around 21,245 tons in May 2013. Vietnam's exports to Australia declined by about 53% to 797 tons in May 2014 from around 1,713 tons in April 2014 and declined by about 6% from around 846 tons exported in May 2013.
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
In terms of grade, 15% broken rice exports accounted for 282,316 tons (or, about 48% of total exports in May 2014); 5% broken rice exports accounted for 99,408 tons (or, about 17% of total May exports); Jasmine rice exports accounted for 109,484 tons (or, about 19% of total May exports) ; 25% broken rice exports accounted for 12,154 tons (or, about 2% of total exports in May 2014), glutinous rice exports accounted for 58,823 tons (or, about 10% of total May exports); and 10%, 100% and other varieties accounted for 23,161 tons (or, about 4% of total exports in April 2014).
Oryza Overnight Recap - Chicago Rough Rice Futures Bounce Higher Overnight on Support from Other Grains Jul 08, 2014
Chicago rough rice futures for Sep delivery were paused 5.5 cents per cwt (about $1 per ton) higher at $13.655 per cwt (about $301 per ton) during the trading break in Chicago. The other grains are seen mostly higher this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.1% lower, wheat is paused about 0.4% higher and corn is noted about 0.1% higher. U.S. stock index futures indicated a lower open on Tuesday, as second-quarter earnings season gets underway. On the economic data front, the JOLTS job openings report is due at 10 a.m. ET on Tuesday. Both the Richmond Fed's Jeffrey Lacker and Minneapolis Fed's Narayana Kocherlakota are also due to speak later in the day. Their comments will be closely watched ahead of the minutes from the U.S. Federal Reserve's June meeting on Wednesday. The publication will take on all the more significance after last week's non-farm payrolls data came in much stronger than expected. Meanwhile in Europe and Asia, stocks traded mostly lower on Tuesday, tracking the slip in U.S. equities on Monday, when stocks retreated from all-time highs. US stock index futures are currently seen trading about 0.2% lower, gold is currently trading about 0.5% higher, crude oil is seen trading about 0.1% lower, and the U.S. dollar is currently trading about 0.1% higher at 8:45am Chicago time.
Pakistan Plans to Strengthen Rice Export Ties with China Jul 08, 2014
Given the recent surge in Pakistani rice exports to China, around 244% increase in last two years, the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) is planning to further strengthen Pakistan's export ties with China, according to local sources.The PCJCCI President local media sources that the organization is planning to launch a marketing and promotional drive to China and try to create awareness and a personalized demand for Pakistani rice among the Chinese. It is particularly planning to explore Chinese likes for various varieties of rice and adopt Chinese know-how in production and milling techniques, he noted. He also stated that the PCJCCI will work towards arranging meetings for Pakistani and Chinese rice entrepreneurs to increase demand for Pakistani rice in China.
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
The President noted that Pakistan has capability to export around 3.75 million tons of rice to China if the country's rice sector focuses on improving yield by adopting hybrid rice varieties and new production techniques. He added that the broadcasting system of planting saplings developed by the Rice Research Institute (RRI) can increase yield while reducing input costs by around Rs.14,000 per acre (around $351 per hectare) as well as saving 30-35% irrigation water.Pakistan exported around 2.9 million tons of rice in the first eleven months (July – May) of the current fiscal year 2013-14 (July - June), down about 8% from around 3.15 million tons of rice exported during the same period in FY 2012-13, according to the Pakistan Bureau of Statistics (PBS). Pakistan exported about 3.4 million tons of rice worth about $210 billion in FY 2012-13.
Nigeria Lowers Import Duty on Rice Under New Three-Year Fiscal Policy Measure Jul 08, 2014
The Federal Government of Nigeria (FGN) has approved plans to lower the controversial 110% duty (100% levy + 10% duty) on rice imports under a new three-year fiscal plan (2014-17), according to local sources.Local sources report that Nigerian President has approved the new fiscal plan and is effective from May 26, 2014. As per the new policy, the FGN has decided to lower the import duty on husked-brown, paddy, unprocessed and semi-milled or wholly milled rice to 30% (20% levy + 10% duty) for investors and millers, and to 70% (60% levy + 10% duty) for full time traders. The policy of 110% import duty on rice was initiated in January 2013 to discourage imports and encourage local production. However, the plan led to an increase in unofficial imports from the land borders of neighboring countries such as Benin Republic and Cameroon, which had significantly lowered duties on rice imports after Nigeria hiked its duties, causing billions of losses to the Nigerian government.The FGN has called all importers of rice to clear their shipments, which have been waiting at various sea ports by submitting a letter of indemnity, which exempts them from paying additional demurrage, to the Nigeria Customs Service (NCS). Sources at the Ministry of Finance told local media that the Coordinating Minister for the Economy and Finance would convey the President's approval to all relevant Secretaries and Ministries to ensure strict compliance other requisite formalities. However, traders say Nigeria's import duties on rice are still higher compared to Cameroon and Benin Republic with 0% duty/levy on rice, adding that it is still discouraging to full time traders.
Asia Rice Quotes Unchanged Today Jul 08, 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 discount to Viet 5% rice (of new crop) quoted at around $415 - $425 per ton. Indian 5% rice is quoted at around $430 - $440 per ton, about $5 per ton discount to Pak 5% rice quoted at around $435 - $445 per ton. 25% Broken Rice
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
Thai 25% rice (of the old crop) was last quoted at around $350 - $360 per ton, about $15 per ton discount to Viet 25% rice (of new crop) quoted at around $365 - $375 per ton. Indian 25% rice is quoted at around $390 - $400 per ton, about $10 per ton premium on Pak 25% quoted at around $380 - $390 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 $25 per ton discount to Pak parboiled rice quoted at around $435 - $445 per ton. 100% Broken Rice Thai broken rice, A1 Super, (of the old crop) was quoted at around $310 - $320 per ton, about $20 per ton discount to 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 discount to Pak broken sortexed rice quoted at around $325 - $335 per ton.
Cambodia Exports 177,928 Tons of Rice in January-June, 2014; Up 1% from Last Year Cambodia exported about 177,928 tons of rice in first half of calendar year 2014, up about 1% from about 175,959 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 June 2014, Cambodia exported about 29,666 tons of rice, up about 2% from about 29,105 tons of rice exported in June 2013 and up about 6% from about 27,971 tons of rice exported in May 2014. During the month of June, Cambodia exported mainly long grain white rice (about 12,282 tons), Jasmine rice (about 10,511 tons) and long grain
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
parboiled rice (about 2,052 tons).European nations, Malaysia, and China remain the main rice export destinations for Cambodian rice so far this year
Brazil Paddy Rice Index Declines Slightly From Last Week Jul 08, 2014
The Brazilian paddy rice index maintained by CEPEA reached at about 36.11 real per 50 kilograms as of July 7, 2014, down about 0.33% from about 36.23 real per 50 kilograms recorded on June 30, 2014.In terms of USD per ton, the index reached at about $327 per ton on July 7, 2014, down about 1% from about $329 per ton recorded on June 30, 2014.
Philippines Mulls New Rice Policy with More Imports and No Subsidies Jul 08, 2014
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
The Philippines is likely to consider importing more rice in 2014 as well as ending subsidies to rice farmers, according to Bloomberg. Officials are understood to meet on July 16, 2014 to decide over the additional quantum of imports and ending subsidies to farmers.The Philippines government already imported around one million tons of rice (800,000 tons in March 2014 and 200,000 tons in June 2014) from Vietnam, 60,000 tons of which are still due to arrive before September 2014, and allowed private importers to import around 163,000 tons of rice in February 2014 under Minimum Access Volume - Country Specific Quota (MAV-CSQ) from Thailand, Australia and India. Local sources say the The Presidential Assistant for Food Security told was quoted as saying that the government is planning to import around 1.4 million tons of rice this year, including volumes pending from last year. He added that quantum of additional imports will depend on the impact of the impending El Nino on the Philippines rice productivity, yields and buffer stocks. The government is also planning to open rice import market allowing private traders to import more quantities of rice.He also noted that the government is keen on removing subsidies on rice (by way of buying rice from farmers at higher prices and selling at cheaper prices through the National Food Authority) to cut down on the NFA debt burden, which is expected to reach around P180 billion (around $4.1 billion) by the end of 2016 if the current rice policy continues. Analysts say the current policy is flawed as the government is spending hugely on subsidies but average Filipinos are ending up paying higher prices. According to the UN’s Food and Agriculture Organization (FAO), average retail prices of regular milled rice increased to around 37,020 pesos (around $844) per ton in June 2014, up about 22% from around 30,340 pesos (around $710) per ton in June 2013. Average retail prices of well milled rice increased to around 39,860 pesos (around $909) per ton in June 2014, up about 20% from around 33,180 pesos (around $710) per ton in June 2013.The USDA estimates the Philippines will import around 2 million tons of rice in MY 2013-14 (July – June), including around 500,000 tons of unofficial rice imports, and the UN’s Food and Agriculture Organization estimates the country to import around 1.2 million tons of rice in 2014 (January – December).
European Farmers Federation Collaborates with IBMA to Develop Plant Protection Solutions in EU Jul 08, 2014
The European Federation of Farmers and Agri-Cooperatives (Copa-Cogeca) has collaborated with the International Bio-control Manufactures' Association (IBMA) to develop reliable and effective plant/crop protection solutions for various crops, including rice, in the European Union (EU).Copa-Cogeca has expressed concern that the EU agriculture sector lacks proper plant protection solutions to prevent detect and control pests and diseases, adding that farmers are resorting to alternative pest control methods without adequate information and knowledge. The latest Common Agricultural Policy (CAP) of the EU has banned many chemicals and pest control tools and has suggested certain bio-control solutions, which are not easily available to farmers, says Copa-Cogeca members. They noted that if this situation continues, the EU food sector may have to compromise over food safety and security as well as entire food chain, including its productivity and sustainability. Both organizations have released a "Roadmap" for 2014-15 focussing on identifying the needs of farmers, research and development, and pest and disease management. They mainly aim to help farmers
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
to provide with requisite pest control tools, which are capable of control any kind of pests and crop diseases.Copa-Cogeca and IBMA, along with the European Commission (EC) and member states, will also work towards including current gaps and legislative proposals for low-risk chemical substances and products in the EU Council and Parliament provisions
Oryza Global Rice Quotes July 8th, 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
435-445
↔
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
NQ
Vietnam 25% broken
365-375
↔
Pakistan 25% broken
380-390
↔
Cambodia 25% broken
410-420
↔
India 25% broken
390-400
↔
U.S. 15% broken 530-540
↔
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
Long grain parboiled rice 425-435
↔
Pakistan parboiled 5% broken stxd 435-445
↔
India parboiled 5% broken stxd
↔
Thailand parboiled 100% 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 575-585
↔
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
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