15th October, 2013
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TOP Contents - Tailored for YOU Latest News Headlines…
Oryza Rice Currency Analysis for Today – India Rupee Down 0.8% Sri Lanka Gains Bigger Appetite for Farming Traditional Rice Varieties Oryza U.S. Rough Rice Recap – Silence Rules Rice Market as Sellers, Buyers Differ on Price Ideas India Overtakes Thailand as Singapore’s Biggest Rice Supplier South Korea 2013 Rice Production Forecast to Increase 5.8%, Despite Lower Acreage Oryza Overnight Recap - Chicago Rough Rice Futures Begin Week Higher; Most Other Grains Open Lower India Rice Exports Unaffected by Phailin Floods, Claims Food Minister Vietnam Exports Over 5.3 Million Tons of Rice in January 1 - October 10, 2013 Thailand Rice Sellers Lower Some of Their Quotes; Vietnam Rice Sellers Increase Most of Their Quotes Oryza Quick Glance at World News Oryza Global Rice Quotes
News Detail…
Oryza Rice Currency Analysis for Today – India Rupee Down 0.8% Oct 14, 2013
U.S. dollar index was down -0.12% from the open today, when it traded at 80.267 at the close. Euro was +0.16% higher today by the close, trading around 1.3567 by end of day, after trading between an intraday high of 1.3598 and low of 1.3544. The U.S. dollar is struggling after the nation's credit rating was downgraded by several Wall Street banks. Thai baht was stronger +0.03%, trading at 31.280 at the close of business. Indian rupee was -0.76% weaker at 61.5450. Brazilian real was +0.07% stronger than the open at today’s close, when it ended at 2.1745 reais per dollar. Pakistan rupee was -0.14% weaker at the close, trading at 106.3250.
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Vietnamese dong was -0.02% weaker, trading at 21105. Mexican peso was +0.22% stronger today, when it traded at 12.9623 pesos per dollar by the close of business today. Chinese yuan was stronger +0.11% at 6.1115. Argentine peso was -0.04% weaker at 5.8318 pesos per dollar. Tags: foreign exchange rates
Sri Lanka Gains Bigger Appetite for Farming Traditional Rice Varieties Oct 14, 2013
While the world has been busy researching and debating controversial genetically-engineered rice and hybrid varieties, some scientists have been taking a second look at traditional varieties.Nearly all the rice produced in Sri Lanka is hybrid rice with 15 hybrid varieties accounting for about 70% of total production. Traditional varieties make up a very small percentage of production. Hybrid varieties hich are preferred due to their high yield and quick growth. During the last sixty years, more and more farmers have turned to hybrid varieties. However, recently researchers are exploring the benefits of traditional varieties and are considering bringing them back into the forefront of Sri Lankan agriculture.Manjula Wijesinghe, an instructor for the Agriculture Service Centre which is run by the Sri Lankan government, estimates that only about 100 farmers are still growing traditional varieties. Many of these farmers are located in Ankumbura, a small village in Sri Lanka’s Central Province where the majority of the rice is grown for personal consumption. The trend toward hybrid from traditional varieties may be reversing as traditional varieties are experiencing a surge in consumer popularity, in part due to their unique health benefits. For example, the traditional varieties have lower sugar content, making them an appealing choice for consumers who are diabetic, overweight, or monitoring their sugar intake. They have higher amounts of glutamic acid, fiber, and vitamins. Some people also credit traditional varieties with other health benefits, such as cooling the body in Ayurvedic treatments, improving vocal clarity, and alleviating rashes.In addition to potentially higher consumer demand, farmers of traditional rice varieties are also encouraged by their heartiness. Chatura Rodrigo, an economist at the Institute of Policy Studies in Colombo, Sri Lanka, recently published a paper showing that traditional varieties of rice can last up to three times longer than hybrid varieties when kept in seedling nurseries. This is an important finding for farmers there, who have seen inconsistent weather including both floods and droughts in the last three years. If these varieties can be maintained in nurseries until the fields are in proper shape for planting, more crops may survive the unpredictable climate changes.
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The traditional varieties also have a taller, stronger stem that mitigates the harsh effects of rains, winds, and heavy evaporation, according to researchers.However scientists’ optimism is tempered by the Rice Research Institute, whose head, Nimal Dissanayake, warned that farmers will need an incentive to make the change back to traditional varieties. Hybrids also mature more quickly, though farmers have become dependent on fertilizer and pest control, which is not normally used when farming traditional varieties.
He sees the biggest potential for these traditional varieties in wet zones where yields are low. Consumers have also become accustomed to the hybrid varieties’ sweet taste. Even the Sri Lankan Army has advocated the use of traditional varieties – there are six military farms producing paddy, dairy products, vegetables, and fruits that focus on rediscovering the traditional, sustainable farming methods from years past. On these farms, biological pesticides are made with crushed herbs and local deities and the lunar cycle are consulted and respected when making agricultural decisions. There are at least 33 acres growing 5 different varieties of traditional rice on three of these six military farms. Tags: Sri Lanka rice production
Oryza U.S. Rough Rice Recap – Silence Rules Rice Market as Sellers, Buyers Differ on Price Ideas Oct 14, 2013
The U.S. cash market remains very quiet as buyers and sellers continue to disagree on prices. Analysts contend that many farmers are still busy cutting their rice and have little interest in selling below their target prices at this time while buyers contend that there is little to no demand at the levels that farmers are asking for. As of today, offers increased slightly to around $15.35-$16.11 per fob farm (about $338-$355 per ton), depending on where they are located in the U.S. mid-South, for October through December shipment, while bids from most mills and exporters were unchanged near $14.50 per cwt (about $320 per ton) and $15.20 per cwt (about $335 per ton), respectively, for October through December delivery, although there were no trades reported today.In the meantime, there was no crop progress reports released today as the USDA website was not available due to the lapse in federal government spending in the U.S. Tags: U.S. rice prices
India Overtakes Thailand as Singapore’s Biggest Rice Supplier Oct 14, 2013
India has become Singapore’s biggest rice supplier in January – August 2013, ahead of Thailand and Vietnam, the other two main suppliers of rice in Singapore.According to local sources, India exported around 92,865 tons of rice to Singapore during January – August 2013, which accounts for around 32.9% of total rice supply to Singapore during this period. In comparison, Thailand supplied about 85,816 tons (about 30.4%) and Vietnam supplied about 77,459 tons (about 27.4%) during January – August 2013. Sources say that this is the first time that Thailand has fallen behind another country in supplying rice to Singapore.According to trade sources,
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Thailand used to account for over 50% in between 1998 and 2011, and supplied around 62.1% of all rice imports by Singapore in 2009. However, the percentage of Thailand’s rice exports to Singapore declined sharply to around 35.3% in 2012. Meanwhile, Indian rice has grown in popularity in Singapore in the last few years. The percentage of Indian rice in all rice imports by Singapore stood at around 15.8% in 2011, but it almost doubled to around 29.5% in 2012. Trade sources say that the shift in rice supplies seen in Singapore is mainly due to price difference. Currently, Thailand’s Hommali rice is priced around SGD 15.80 per 5 kilograms (about $2,540 per ton) at FairPrice in Singapore, compared to India’s Ponni rice is priced at around SGD 8.30 per 5 kilograms (about $1,332 per ton), and Vietnam’s Jasmine rice priced at around SGD 7.80 per 5 kilograms (about $1,252 per ton).India, Thailand and Vietnam account for over 90% of all rice imports by Singapore in 2013 so far. Other rice suppliers to Singapore include Myanmar (about 2.5%), Pakistan (about 2.4%), the U.S. (about 2.2%), Cambodia (around 0.9%) and Australia (about 0.6%). Tags: India exports, Thailand rice, Vietnam rice exports
South Korea 2013 Rice Production Forecast to Increase 5.8%, Despite Lower Acreage Oct 14, 2013
South Korea’s rice production is expected to increase to around 4.24 million tons in 2013, up about 5.8% from an estimated 4 million tons produced in 2012, according to Statistics Korea.The government is trying to reduce rice cultivation in the country due to declining per capita rice consumption in the last four decades. According to official sources, per capita rice consumption in South Korea stands at around 67.3 kilograms in 2014, down about 1.8% from the previous year, and almost half of around 134.5 kilograms recorded in 1972.This year, rice acreage is expected to decline around 2% from last year. However, overall production is likely to increase due to higher rice yield which is up around 7.8% from 2012, according to local sources. The government is planning to procure around 370,000 tons of rice from farmers this year to protect them from low prices.Higher production will help meet the entire domestic rice demand, the Ministry of Agriculture, Food and Rural Affairs said. However, South Korea must import around 350,000 tons of rice annually under World Trade Organization (WTO) commitments. Tags: South Korea rice imports
Oryza Overnight Recap - Chicago Rough Rice Futures Begin Week Higher; Most Other Grains Open Lower Oct 14, 2013
Chicago rough rice futures for November delivery are trading higher by about 5.5 cents per cwt (about $1.2 per ton) at about 15.115 per cwt (about $333 per ton) as of 8.00 am Chicago time. The other grains are seen mixed today: soybeans are trading higher by about 3.8 cents per cwt (about $0.84 per ton); wheat is trading lower by
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about 4.8 cents per cwt (about $1.1 per ton); and corn is trading lower by about 1 cent per cwt (about $0.22 per ton).U.S. stocks futures pointed to a lower opening today as sustained concerns over the U.S. political deadlock and the risk of a sovereign default dented investor confidence. Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.63% decline, S&P 500 futures signaled a 0.67% decline, while the Nasdaq 100 futures indicated a 0.45% drop. Negotiations between U.S. President Barack Obama and House Republicans broke down over the weekend, fuelling concerns that a deal to raise the government borrowing limit would not be struck ahead of Thursday’s deadline to avert an unprecedented U.S. sovereign debt default. The chief of the IMF said the U.S. situation was "very, very concerning" and that "creative accounting" is not a solution. In other commodities market: Crude oil futures are trading lower by about 0.53 points, gold futures are trading higher by about 15.5 points and the U.S. dollar is currently trading higher against most of major currencies at 8.00 am Chicago time. Tags: chicago rough rice futures
India Rice Exports Unaffected by Phailin Floods, Claims Food Minister Oct 14, 2013
India’s Food Minister has assured rice exports will continue unaffected by the impact of cyclone Phailin which devastated standing rice crops in about 500,000 hectares in the worst-affected Odisha state alone.The Minister told local sources today that the current rice stocks in the country stands at around 19 million tons compared to the required norms of around 7.2 million tons. Exports will continue unhindered due to sufficient supply and good prices in the international market, he added.Cyclone Phailin hit the southeastern coast of India on Saturday and left behind scenes of destruction and floods. It is estimated that crops worth around Rs. 2,400 crore (about $400 million) were damaged due to the cyclone and around 1% or about one million tons of India’s annual rice production could be lost due to the floods, according to local sources. Tags: India rice production, India rice exports
Vietnam Exports Over 5.3 Million Tons of Rice in January 1 - October 10, 2013 Oct 14, 2013
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Vietnam has exported about 5.31 million tons of rice from the beginning of the year to October 10, 2013, according to the Vietnam Food Association (VFA). Average export price during the period stands at around $429 per ton.Vietnam’s rice exports during October 1 – 11, 2013 stand at around 111,471 tons at an average price of about $424 per ton. In comparison, Vietnam’s rice exports in whole month of October 2102 stood at about 646,197 tons at an average price of about $445 per ton.According to the VFA, domestic paddy prices in the Mekong Delta for common stock stand at around VND 5,100- 5,400 per kg (about $238 - $251 per ton), for 5% broken rice prices stand at around VND6,800-6,900 per kg (about $317 - $322 per ton), and for 25% broken rice prices stand at around VND 6,600-6,700 per kg (about $308 - $313 per ton). Tags: Vietnam rice exports, Vietnam Food Association
Thailand Rice Sellers Lower Some of Their Quotes; Vietnam Rice Sellers Increase Most of Their Quotes 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
Oct 14, 2013
Thailand rice sellers lowered their quotes for Hommali rice by about $5 per ton to about $1,070 - $1,080 per ton today. Vietnam rice sellers increased most of their quotes by about $5 - $15 per ton. India and Pakistan rice sellers kept their quotes unchanged. 5% Broken Rice Thai 5% rice is quoted around $405 - $415 per ton, about a $15 per ton premium over Viet 5% rice (of summerautumn crop 2013) shown around $390 - $400 per ton, up about $10 per ton from Friday. Indian 5% rice is quoted around $415 - $425 per ton, about a $35 per ton premium over Pak 5% rice (of new crop) quoted around $380 - $390 per ton. 25% Broken Rice Thai 25% rice is quoted about $390 - $400 per ton, about a $25 per ton premium over Viet 25% rice (of summer-autumn crop 2013) shown around $365 - $355 per ton, up about $10 per ton from Friday. Indian 25% rice is quoted about $370 - $380 per ton, about a $35 per ton premium over Pak 25% rice (of new crop) quoted around $335 - $345 per ton. Parboiled Rice Thai parboiled rice is quoted around $425 - $435 per ton. Indian parboiled rice is quoted around $400 - $410 per ton, about a $20 per ton discount to Pak parboiled rice (of new crop) quoted around $420 - $430 per ton. 100% Broken Rice Thai broken rice, A1 Super, is quoted around $370 - $380 per ton, about a $15 per ton premium over Viet broken rice (of summer-autumn crop 2013) shown around $355 - $365 per ton, up about $10 per ton from Friday. Indian broken sortexed rice is quoted about $310 - $320 per ton, about a $10 per ton discount to Pak broken sortexed rice (of new crop) quoted around $320 - $330 per ton. Tags: Asia rice quotes, Thailand rice quotes, Vietnam rice quotes, Pakistan rice quotes, India rice quotes
Oryza Quick Glance at World News Oct 14, 2013
Financial Times – *China’s consumer price index for September rose 3.1% compared with a year earlier, accelerating from 2.6% in August, year-on-year increase, according to National Statistics Bureau data released on Monday. *Iran has drawn a red line in critical talks with world powers over its nuclear program, insisting that it will not allow its current stocks of enriched uranium to be shipped out of the country as part of any deal. *The Gulf States are producing more oil than ever before, defying expectations that the U.S. shale revolution would break their 40-year grip on the global oil market and diminish their importance to the world’s consuming nations. Saudi Arabia, Kuwait, the UAE, and Qatar set aggregate production records in each of the last three months. In September they accounted for 18% of global demand – a level only matched twice in IEA data stretching back to the 1980s.
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*Greenland Group, a Chinese state-owned developer, will own 70% of a joint venture established with Forest City Ratner Companies to develop the vast commercial and residential project in Brooklyn, with the total investment likely to exceed $5 billion, according to the Chinese developer. *The British government is planning to create a safe corridor for payments to Somalia as money transfer companies in the UK face closure over fears of terrorist funding. The move was announced days before Barclays is due to shut the last account held by a money transmitter operating in Somalia, effectively halting the majority of funds sent from Britain. *France’s Front National swept to victory over the country’s mainstream centre-right opposition in a closely watched local election on Sunday in a vote widely seen as presaging big advances by the far-right party in next year’s European and municipal elections. *Europe’s financial institutions are more exposed to their domestic government bonds than at any time since the eurozone crisis started, reigniting concerns that the fates of sovereign states and their banks are too closely intertwined. *U.S. Senate leaders were locked in talks on Sunday in a desperate attempt to resolve the stalemate over the U.S. debt ceiling amid warnings of a global recession should the U.S. run out of money to pay its bills. Wall Street Journal *Afghan President Hamid Karzai claimed a victory this weekend in lengthy negotiations over the future of U.S. military forces here, saying he had won a tentative deal from Washington that he could present to the Afghan people. *Ireland's government may not need a so-called precautionary line of credit because it already has large amounts of cash on hand should it hit any new crisis after it emerges from its international bailout at the end of the year, Finance Minister Michael Noonan suggested Saturday. *The U.K. government and Electricité de France are close to announcing a deal that would see the French power giant build and operate a pair of nuclear reactors costing about £14 billion ($22.4 billion) on the west coast of England, people familiar with the matter said. *India's central bank will issue rules governing the operations of foreign banks in the next couple of weeks, Reserve Bank of India Governor Raghuram Rajan said in Washington on Saturday. *South Korea and Indonesia have agreed to sign a three-year currency swap deal worth up to $10 billion, bolstering their defense against financial-market turbulences, the central bank and the Finance Ministry in Seoul said Sunday. *Asian countries will face big challenges in securing enough oil over the next two decades as their additional demand will be equivalent to the current oil output of the Middle East, the Asian Development Bank said Monday, adding that to cope, and they should continue investing in upstream projects outside the region. *India's wholesale price index, the country's main inflation gauge, rose 6.46% from a year earlier, compared with 6.10% increase in August, according to data released Monday by the Ministry of Commerce and Industry. *The British government made some key concessions to the newspaper industry Friday in proposals aimed at cleaning up the U.K.'s media in the wake of its phone-hacking scandal, but the concessions did not go far enough for some in the industry who have complained that freedom of the press is at stake. New York Times-
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*Leaders at World Bank and IMF meetings on Sunday pleaded, warned, and cajoled: the U.S. must raise its debt ceiling and reopen its government or risk “massive disruption the world over,” as Christine Lagarde, the fund’s managing director, put it. *Iranian nuclear negotiators will offer a new proposal on Tuesday that is intended to persuade world powers that the country’s nuclear program has only peaceful aims, a top official said on Sunday. *The Israeli military announced on Sunday that it had discovered a tunnel leading from Gaza into Israel that it said could have been used for an attack against Israeli soldiers or civilians. *France will boost its troop presence in the Central African Republic by the end of the year to help prevent the country from spiraling out of control, the French foreign minister said Sunday. *Japan's government will allow Kawasaki Heavy Industries Ltd to sell engine parts for use by the British navy, deciding it would not violate a long-standing ban on arms exports, Japanese media reported on Monday. *Ford Motor Co. and the University of Michigan are opening a new battery research and manufacturing lab that they hope will speed the development of batteries for electric and hybrid cars. Tags: World news
Oryza Global Rice Quotes October 14th, 2013 Long grain white rice - high quality Thailand 100% B grade 415-425 Vietnam 5% broken 390-400 ↑ India 5% broken 415-425 ↔ Pakistan 5% broken 380-390 ↔ Cambodia 5% broken 445-455 ↔ U.S. 4% broken 600-610 ↔ Uruguay 5% broken 615-625 ↔ Argentina 5% broken 615-625 ↔
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Long grain white rice - low quality Thailand 25% broken 390-400 ↔ Vietnam 25% broken 365-365 ↑ Pakistan 25% broken 335-345 ↔ Cambodia 25% broken 430-440 ↔ India 25% broken 370-380 ↔ U.S. 15% broken 575-585 ↔ Long grain parboiled rice Thailand parboiled 100% stxd 425-435 Pakistan parboiled 5% broken stxd 420-430
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India parboiled 5% broken stxd 400-410 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken 580-590 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 1070-1080 Vietnam Jasmine 535-545 ↑ India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ ↔ Cambodia Pkha Malis 930-940 ↔ Brokens Thailand A1 Super 370-380 ↔ Vietnam 100% broken 355-365 Pakistan 100% broken stxd 320-330 Cambodia A1 Super 389-390 ↔ India 100% Broken stxd 310-320 Egypt medium grain brokens NQ ↔ U.S. pet food 370-380 ↔ Brazil half grain 345-355 ↔ Medium grain milled U.S. Calrose 4% broken Egypt medium grain 6%
645-655 NQ ↔
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All prices USD per ton, FOB vessel, oryza.com
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