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TOP Contents - Tailored for YOU Latest News Headlines…
FAO Projects Higher Rice Prices as Importers Return to the Market and El Niño Dampens Production Oryza U.S. Rough Rice Recap - Offers Increase Ahead of WASDE; Exports Remain Lackluster Oryza Rice Currency Analysis for Today – Euro Falls 0.4% Religion for Rice Oryza Afternoon Recap - Chicago Rough Rice Futures Continue Back-and-Forth Trade as Market Faces Overhead Resistance Locally Produced Rice Sake, in Canada? India Procures About 26.707 Million Tons Rice So Far in KMS2013-14 Thailand PM Yingluck Found guilty of Negligence Related to Rice Mortgage Scheme Italy Paddy Quotes Continue Lower Sri Lanka Paddy Rice Production to Decline 19% from Last Year; Prices Up 23% y/y India, Pakistan Rice Sellers Increase Some Quotes; Other Asia Rice Quotes Unchanged Today Oryza Global Rice Quotes
News Detail… FAO Projects Higher Rice Prices as Importers Return to the Market and El Niño Dampens Production May 08, 2014
Rice prices should pick up this year as 1) traditional buyers return to the market to buy more rice and as 2) an El Niño weather phenomenon expected later this year may reduce rice production in Asia, especially India, according to a biannual global food report published this month by FAO. Production: According to the FAO, global milled rice production is expected to reach at about 501.1 million tons in 201415, up about 1% from an estimation of about 496.9 million tons rice produced in 2013-14. Rice growth subdued this year due to expectation of El Niño recurrence in mid-2014. In Asia, which is the global rice hub, El Niño is normally associated with drought, which will impact the rice yield, FAO said. Rice production in Asia is expected to reach at about 453.2 million tons in 2014-15, up about only 0.5% from last year, due to expectation of adverse weather and less attractive price. Rice production
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is expected to increase in China to about 141.4 million tons, up about 0.6% from last year. Rice production in India is expected to reach at about 107 million tons, up about 1% from last year. However, the final outcome of the season will depend on the pattern of monsoon rains, which normally reach the country on 1 June, when planting of the first paddy crop starts. In 2009, the last year of a strong El Ni単o event, rice production in India dropped 10%. Meanwhile, rice production in Indonesia, Bangladesh, Vietnam, Myanmar, Philippines, Pakistan and Cambodia is also expected to rise in 2014-15 while rice production is expected to decline in Sri Lanka, Japan, Laos and Thailand. Overall rice production forecast for Africa is positive, with FAO expects 3% growth to 18.4 million tons in 2014, from last year. . Rice production is expected to rise by about 3% in EU from last year while rice production in the Russian Federation is also expected to increase. In Latin America and the Caribbean, rice production is expected to rise by about 3% to 19.5 million tons in 2014-15, from last year. Much of the growth is expected in Brazil rice production, up about 8% from last year, according to FAO. In Central America, where the 2014 season is just starting, rice production should benefit from support from government. In North America, rice production is expected to rise by about 12% from last year. Meanwhile, rice production in Australia is expected to decline by about 22% from last year, due to severe drought conditions and excessively cool temperatures in the main producing state of New South Wales. Trade: Global rice trade in 2014-15 is expected to reach at about 39.2 million tons, down about 0.2% from an estimated 39.3 million tons in 2013-14. Rice import in some Asian countries, such as s Bangladesh, China, Indonesia, Malaysia, Nepal, the Philippines and Sri Lanka, are expected to rise while rice import by Iran is expected to decline in 2014-15. Rice imports by African countries are currently anticipated to edge higher. Imports by countries in Latin America and the Caribbean may also rise. On supply side, Thailand is expected to capture much of the expansion in world import demand, according to the FAO. Thailand is expected to export of about 8.7 million tons rice in 2014-15, up about 31% from about 6.6 million tons exported in 2013-14. Rice export in Vietnam and Pakistan is also expected to rise in 2014-15. Meanwhile, India's rice export is expected to decline by about 7% to about 9.8 million tons in 2014-15, from about 10.5 million tons expected to export in last year. Global Rice Stocks: According the FAO, global rice stock are expected to rise for the ninth consecutive year, to reach at about 180.9 million tons in 2013-14, but ending rice stock is expected to decline in 2014-15 by about 0.4% to 180.1 million tons from last year.
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Tags: Global rice trade, global rice production, El NiĂąo, Food and Agriculture Organization (FAO)
Oryza U.S. Rough Rice Recap - Offers Increase Ahead of WASDE; Exports Remain Lackluster May 08, 2014
The U.S. cash market was fairly uneventful today ahead of the release of the USDA’s World Agriculture Supply and Demand Estimate due out Friday morning at 11 a.m. CST. As of today, old crop offers increased to around $16.05 per cwt fob farm (about $354 per ton) for May-June shipment although most seller price ideas are considerably higher.As for bids, most larger mills decreased slightly today to around $15.26 per cwt (about $336 per ton) for May delivery while bids for exporters could be
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found around $15.50-$16.00 per cwt (about $342-$353 per ton), for the same delivery period, however smaller mills are still said to be paying as much as $16.25 per cwt (about $358 per ton) for prompt delivery. In the meantime, today the USDA reported that cumulative net export sales for the week ending on May 1st, totaled 33,100 tons, which was considerably higher than last week but 13% lower than the prior 4-week average. Increases were reported for the following destinations including: 20,900 tons to Haiti, 8,800 tons to Honduras, 4,700 tons to El Salvador including 1,600 tons switched from Guatemala, 2,100 tons to Canada, and 1,200 tons to Yemen while decreased of 4,400 tons were reported Mexico, 1,400 tons for Guatemala, 800 tons for Turkey, and 300 tons for Jordan. Net sales of 5,000 tons for 2014/2015 were reported for Jordan.U.S. rice exporters shipped 44,200 tons, which was 21% lower than the previous week and 24% lower than the prior 4week average. The primary destinations included: 22,500 tons to Haiti, 6,200 tons to El Salvador, 3,400 tons to Canada, 3,000 tons Mexico, and 2,500 tons to Japan. Tags: U.S. rice prices; U.S. rice market
Oryza Rice Currency Analysis for Today – Euro Falls 0.4% May 08, 2014
U.S. dollar index was up +0.22% from the open today, when it traded at 79.374 at the close. Euro was weaker -0.41% by the close, trading around 1.3853 by end of day, after trading between an intraday high of 1.3993 and low of 1.3849. Thai baht was weaker -0.33%, trading at 32.488 at the close of business. Indian rupee was stronger +0.12% at 60.0600. Brazilian real was stronger +0.19% at the close of trading today, trading at 2.2125 reais per dollar. Pakistan rupee was -0.14% weaker at 98.5912. Vietnamese dong was -0.05% weaker at 21103. Mexican peso was stronger +0.02% today, when it traded at 12.9618 pesos per dollar by the close of business. Chinese yuan was stronger +0.12%, trading at 6.2278. Argentine peso was weaker -0.01% at 8.0019 pesos per dollar. Tags: foreign exchange rates, rice currencies, Global rice trade
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Religion for Rice May 08, 2014
One of the most popular Italian rice varieties of the 20th century, Maratelli rice is more than 100 years old and started with theft and chance.A century ago, farmer Mario Maratelli saw a rice panicle different from the others growing in the middle of his rice field, not far from Vercelli, a city located in Northern Italy. The origin of this rice began much earlier, with the formidable theft of a Jesuit Priest, Father Calleri.In 1839, Father Calleri came back to Italy from the Philippines with the seeds of 43 different rice varieties, although their export was forbidden. One could say the Italy and the Philippines accidently exchanged religion for rice. Up to that point in 1904 when Maratelli noticed the usually rice plant, only the ancient rice variety Nostrale was farmed in Italy. With the theft of the Asian Japonica rice seed and natural genetic mutation, modern Italian rice production began. Maratelli rice became the most popular variety in Italian production, up until the 1970s.In the 1970s, changing agricultural techniques and a focus on high yielding varieties, displaced Maratelli rice. However, the memory of this old rice has been kept alive at a big farm in Gionzana, near Novara, where it has been farmed since the beginning. Today there’s also a new variety produced on the farm called "Nuovo Maratelli”, or "New Maratelli.”Most recently, a book written by Mario’s nephew Augusto entitled, Mario Maratelli, an Important Story, celebrates this fascinating story. It will be presented on May 17 in the town of Asigliano, not far from Vercelli. Tags: Maratelli rice, Nuovo Maratelli, Jesuit Priest, Father Calleri, Mario Maratelli
Oryza Afternoon Recap - Chicago Rough Rice Futures Continue Back-and-Forth Trade as Market Faces Overhead Resistance May 08, 2014
Chicago rough rice futures for Jul delivery settled 4.5 cents per cwt (about $1 per ton) lower at $15.500 per cwt (about $342 per ton). The other grains finished the day mostly higher, as soy products look to recover from the pounding they have taken recently; soybeans closed about 1.6% higher at $14.6950 per bushel; wheat finished about 0.3% lower at $7.3525 per bushel, and corn finished the day about 0.5% higher at $5.1650 per bushel.U.S. stocks climbed Thursday, with technology companies coming back after a two-session rout, as investors welcomed better-than-expected April sales from retailers, along with upbeat data on the U.S. jobs front. Ahead of Wall Street's open, the Labor Department report initial jobless claims fell by 26,000 to 319,000 last week, versus a 325,000 estimate.
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The four-week average rose to 324,750 from 320,250 the week before, the Labor Department said. And separate data showed China's exports and imports rose in April on the year, defying expectations for a dip in both figures. The Dow Jones Industrial Average climbed as much as 104 points, and was lately ahead 63.10 points, or 0.4%, at 16,581.64, topping its record finish set on April 30. The S&P 500 added 3.23 points, or 0.2%, to 1,881.45, with telecommunications and consumer discretionary the best performing of its 10 major sectors. The Nasdaq cleared early losses to turn positive, up 5.36 points, or 0.1%, to 4,073.03, with the index boosted by momentum names that have recently taken a beating. Gold is trading slightly higher, crude oil is seen trading about 0.6% lower, and the U.S. dollar is seen trading about 0.2% higher at about 1:00pm Chicago time.Wednesday, there were 314 contracts traded, down from 394 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday increased by 25 contracts to 8,056. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
Locally Produced Rice Sake, in Canada? May 08, 2014
Rice is a unique crop in that it can be grown in a variety of climates – in fact, rice is grown on every continent on earth, except Antarctica. And just this week, planting began on what is believed to be the most northerly commercial rice farm in the world.Masa Shiroki invited volunteers and the media to witness the planting of his fourth crop of sake-grade rice in British Columbia, Canada on Monday. He has been planting sake-grade rice there since 2012, but last year marked the first release of a Canadian sake brand: the 2013 Fraser Valley Junmai Osake. The wine is produced in small batches and he refines the recipe each year.It’s not just sake rice they grow there, though – Masa Shiroki is helping a group of farmers grow table rice nearby. The Lower Mainland and Fraser Valley regions of British Columbia have land with a high water table and heavy clay content, making them unsuitable for growing most crops – but perfect for growing rice.Masa Shiroki sees rice cultivation in Canada as a logical venture. He argues that it makes use of land that might normally lie fallow. At the same time, he says, it’s taking advantage of the curveball global warming has thrown some farmers, making it a boon for their business rather than a hindrance. The locally-grown rice has the added benefit of appealing to customers who are looking for local and sustainable food options, a growing trend on the west coast.Masa Shiroki has made it clear that sake-grade rice can thrive in British Columbia – we can’t wait to see if table rice is just as successful. See the action at: http:v//globalnews.ca/video/1312858/sake-rice-production-begins-in-abbotsford. Tags: local foods, sake, farming
India Procures About 26.707 Million Tons Rice So Far in KMS2013-14
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May 08, 2014
India has procured about 26.707 million tons rice as of May 5, 2014 in current Kharif Marketing Season (KMS), October 2013-September 2014. India is targeting to procure about 34.3 million tons rice in current KMS2013-14, up slightly from 34 million tons procured in the KMS of last year. Last year, the government fell short of its target to procure about 34.5 million tons in the KMS.India's northern state, Punjab, is the top contributors in rice procurement so far in current KMS2013-14, with about 8.11 million tons, followed by Andhra Pradesh, with about 4.42 million tons and Chhattisgarh with about 4.3 million tons, according to the data. Tags: India rice procurement, India rice production
Thailand PM Yingluck Found guilty of Negligence Related to Rice Mortgage Scheme May 08, 2014
Caretaker Prime Minister Yingluck was brought to power on the electoral base of Thailand rice farmers, promising them higher price for their rice paddy through the nation’s rice mortgage scheme.It now appears that
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same scheme will take Yingluck out of power, as her administration was yet unable to pay farmers and she was today found guilty, by Thailand’s National Anti-Corruption Commission (NACC), of negligence for the rice mortgage scheme’s corruption. The NACC says there is now enough evidence to take the case to the Senate, where if found guilty, Yingluck may be banned for politics for 5 years.Yesterday, the Constitutional Court demanded she step down on account of an abuse of power. As locals and analysts are saying, the political situation is far from over and the future is far from clear. Tags: Thailand rice mortgage scheme, thailand politics, thailand prime minister Yingluck
Italy Paddy Quotes Continue Lower May 08, 2014
The Italian rice paddy prices are declining amid dwindling supplies. Some varieties have been nearly completely sold and have no quotations. Below are farm gate paddy quotes from the Milan Grain Exchange, as of May 6: Arborio-Volano rice is quoted 680-700 euros (about $945-973) per ton, down from 700-720 euros (about $ 9731,001) per ton last week. Balilla paddy is shown 265-275 euros (about $368-382) per ton, down from 270-280 euros (about $ 375-389) a week prior. Lido and similar paddy varieties are quoted 350-370 euros (about $ 486-514), down from 360-380 euros (about $ 500-528) per ton week prior. Padano/Argo paddy again has no price indications available due to low availability. Vialone Nano remains firm at 925-960 euros (about $1,286-1,335) per ton, unchanged over many weeks. Thai Bonnet and similar varieties are shown at 240-250 euros (about $333-347) per ton, unchanged from last week. Sant'Andrea received no quotations, since more than 95% has already been sold. Ariete and similar varieties are shown 390-420 euros (542-584) per ton, down from 400-430 euros (about $ 556-598) per ton last week. Baldo received no quotations, since more than 94% has already been placed.
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Roma is shown 640-670 euros (about $890-932) per ton; unchanged from last week. Selenio is quoted 275-295 euros (about $382-410) per ton, unchanged from the prior week. Carnaroli is again under the 700 euros (about $973) per ton level, and is quoted 670-690 euros (about $932-959) per ton, down from 700-720 euros (about $973-1,001) per ton a week prior. Tags: italy paddy prices
Sri Lanka Paddy Rice Production to Decline 19% from Last Year; Prices Up 23% y/y May 08, 2014
Paddy rice production in Sri Lanka is expected to reach at about 3.8 million tons in 2014, down about 19% from about 4.6 million tons produced in last year and down about 8% from the five-year average of about 4.1 million tons, according to a FAO GIEWS Country Brief.The 2014 main (Maha) season paddy rice production, which accounts for about 60% of the annual production, is estimated to reach at about 2.4 million tons, down about 17% from last year, due to lower rice acreage ( down about 15% from last year) and dry weather. Sri Lanka harvested the main season crop in mid-April.The secondary crop (Yala Season), which is mostly dependent on irrigation, is currently being planted and is also projected to face a lack of water.Sri Lanka rice imports are expected to reach at about 120,000 tons in MY2014 (Jan-Dec), up about 30,000 tons or about 33% from last year.Meanwhile, domestic rice prices in Sri Lanka increased considerably and reached record levels in April, up about 23% y/y, due to the sharp decline in main season rice production. Domestic rice demand was especially high in April due to some traditional holidays, which also put additional upward pressure on prices. Tags: Sri Lanka rice production, sri lanka farming, Sri Lanka rice prices
India, Pakistan Rice Sellers Increase Some Quotes; Other Asia Rice Quotes Unchanged Today May 08, 2014
India rice sellers increased their quotes for 100% broken rice by about $5 per ton to about $300 - $310 per ton today. Pakistan rice sellers increased their quotes for 100% broken rice by about $10 per ton to about $325 $335 per ton. Thailand and Vietnam rice sellers kept their quotes mostly unchanged. 5% Broken Rice
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Thai 5% rice (of new crop) is quoted around $370 - $380 per ton, about $15 per ton discount to Viet 5% rice shown around $385 - $395 per ton. Indian 5% rice is quoted around $415 - $425 per ton, on par with Pak 5% rice quoted around $415 - $425 per ton. 25% Broken Rice Thai 25% rice of the old crop is quoted about $340 - $350 per ton, about a $15 per ton discount to Viet 25% rice shown around $355 - $365 per ton. Indian 25% rice is quoted around $370 - $380 per ton, on par with Pak 25% quoted around $370 - $380 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $405 - $415 per ton. Indian parboiled rice is quoted around $395 - $405 per ton, about $40 per ton discount to Pak parboiled rice quoted around $435 - $445 per ton. 100% Broken Rice Thai broken rice, A1 Super, of the old crop is quoted around $300 - $310 per ton, about a $15 per ton discount to Viet broken rice shown around $315 - $325 per ton. Indian broken sortexed rice is quoted around $300 - $310 per ton, up about $5 per ton from yesterday and about a $25 per ton discount to Pak broken sortexed rice quoted around $325 - $335 per ton, up about $10 per ton from yesterday.
Tags: asian rice quotes, Asia rice quotes, asia rice trade, Global rice trade
Oryza Global Rice Quotes May 8th, 2014
Long grain white rice - high quality Thailand 100% B grade 385-395 Vietnam 5% broken 385-395 ↔ India 5% broken 415-425 ↔ Pakistan 5% broken 415-425 ↔ Cambodia 5% broken 435-445 ↔ U.S. 4% broken 580-590 ↔ Uruguay 5% broken 620-630 ↔ Argentina 5% broken 615-625 ↔
↔
Long grain white rice - low quality Thailand 25% broken 340-350 Vietnam 25% broken 355-365
↔ ↔
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Pakistan 25% broken 370-380 ↔ Cambodia 25% broken 410-420 ↔ India 25% broken 370-380 ↔ U.S. 15% broken 555-565 ↔ Long grain parboiled rice Thailand parboiled 100% stxd 405-415 Pakistan parboiled 5% broken stxd 435-445 India parboiled 5% broken stxd 395-405 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken NQ ↔ Uruguay parboiled 5% broken NQ ↔
↔ ↔ ↔
Long grain fragrant rice Thailand Hommali 92% 935-945 Vietnam Jasmine 515-525 ↔ India basmati 2% broken NQ ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 870-880 ↔
↔
Brokens Thailand A1 Super 300-310 ↔ Vietnam 100% broken 315-325 Pakistan 100% broken stxd 325-335 Cambodia A1 Super 350-360 ↔ India 100% Broken stxd 300-310 Egypt medium grain brokens NQ ↔ U.S. pet food 470-480 ↔ Brazil half grain NQ ↔
↔ ↑ ↑
Medium grain milled U.S. Calrose 4% broken Egypt medium grain 6%
1070-1080 NQ ↔
↔
All prices USD per ton, FOB vessel, oryza.com
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