21st November , 2013
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Philippines 2014 Rice Imports Forecast to Increase 20% to 1.2 Million Tons India Government Procures 15.7 Million Tons in Ongoing Procurement Drive Poor Turnout in Thailand Government Auction of 452,000 Tons of Rice Pakistan Exports 882,132 Tons of Rice in July – October 2013, Up 24% from Last Year Thailand Signs Agreement to Export 1.2 Million Tons of Rice to China Asia Rice Quotes Unchanged Today Oryza Overnight Recap – Chicago Rough Rice Futures Lower Overnight as Market Pulls Back from Recent High India Government Procures 15.7 Million Tons in Ongoing Procurement Drive Oryza Afternoon Recap – Chicago Rough Rice Futures Tumble Following Yesterday’s Failure to Break MultiMonth High; Grains Lower on Good Weather in South America Oryza Shares Press Release: Arkansas Rice Farmers To Hold Election for Board of Directors Oryza Rice Currency Analysis for Today – U.S. Dollar Rallies on Ideas of Tighter Monetary Policy Oryza U.S. Rough Rice Recap – Market Quiet Ahead of Iraqi Tender Announcement Oryza Quick Glance at World News
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Oryza Global Rice Quotes
NEWS DETAILS: Philippines 2014 Rice Imports Forecast to Increase 20% to 1.2 Million Tons Nov 20, 2013
The Philippines rice import requirements are likely to increase to around 1.2 million tons in 2014, up from an estimated one million tons in 2013, according to a preliminary assessment by the UN’s FAO following the devastation caused by Typhoon Haiyan which struck the country on November 8, 2013.The FAO’s Global Information and Early Warning System (GIEWS) said that harvest of the main rice crop in the Philippines, which accounts for around 55% of the total annual production, was well advanced and planting of the mostly irrigated 2013-14 secondary season crop had started at the time of Typhoon Haiyan. However, rice paddy in around 77,476 hectares, worth around P2.33 million (about $53,442) is estimated to be damaged, and losses of stored paddy rice and seeds are also reported, FAO says.According to the FAO’s preliminary assessment, 2013 paddy rice production in the Philippines is now expected to reach around 18 million tons, down about 5% from earlier estimates of a bumper crop of around 18.9 million tons, and down about 10% the government’s target of around 20 million tons under its goal to achieve self-sufficiency in rice this year. The FAO says that the Philippines’ rice import requirements in 2014 is likely to reach around 1.2 million tons, up about 20% from an estimated one million tons of rice imports in 2013. The FAO also says that the damage due to the Typhoon Haiyan has severely compromised the livelihoods of affected households (over 4 million people were displaced due to the Typhoon), which suggests that the government may import more rice in the coming months to control soaring rice prices in the country. Read related Oryza story:
Philippines to Import 500,000 Tons of Rice Soon Tags: Philippines rice imports, Philippines rice production 2013
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India Government Procures 15.7 Million Tons in Ongoing Procurement Drive Nov 20, 2013
Rice procurement by Indian government agencies for the central pool has reached around 15.7 million tons as of November 20, 2013, in the ongoing Kharif marketing season (KMS) which runs from October to September.The Ministry of Consumer Affairs, Food and Public Distribution said that rice procurement so far this year is highest in the northern state of Punjab (about 11.9 million tons) and Haryana (about 3.56 million tons). India is targeting rice procurement of around 34.5 million tons in KMS 2013-14. Tags: India rice procurement
Poor Turnout in Thailand Government Auction of 452,000 Tons of Rice Nov 20, 2013
Only four bidders participated in Thailand government’s auction of 452,000 tons of rice from its stockpile today, with the most popular 5% white rice receiving offers from just three bidders, according to official sources in Thailand.The Commerce Ministry said, “The atmosphere at the auction was reportedly quiet, with only 4 bidders bidding for the rice.” Today’s auction was the sixth by the government this year and comprised 300,000 tons of 100% second class Jasmine rice and A1-Lert broken milled rice and about 152,000 of 5% white rice. Rice offered in the auction will be used for both domestic market and exports. In earlier tenders, the government could sell only 293,000 tons of the 960,339 tons on offer, according to
local sources.
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Traders say that earlier auctions failed because of high prices, while low participation was expected in today’s auctions as prices are likely to fall in the coming weeks and traders usually prefer to buy new paddy rice from the ongoing harvest over old stocks with the government.Prices and winners of today’s auction will be known after the rice clearance committee completes negotiations with participants. Tags: Thailand rice exports 2013
Pakistan Exports 882,132 Tons of Rice in July – October 2013, Up 24% from Last Year Nov 20, 2013
Pakistan has exported around 882,132 tons of rice in the first four months of the fiscal year 2013-14 (July – June), up about 24% from around 711,393 tons exported during the same period in FY 2012-13, according to provisional data from the Pakistan Bureau of Statistics (PBS).Most of the increase is due to a surge in non-basmati rice exports which have increased to around 678,420 tons in July – October 2013, up about 36% from around 498,196 tons exported in the same period in FY 2012-13. However, Pakistan’s basmati rice exports in July – October 2013 have declined to around 203,712 tons, down about 4.5% from around 213,197 tons in the same period last year.In terms of value, total rice exports in July – October 2013 have earned Pakistan around Rs.58.7 billion, up about 40% from around Rs. 42 billion in the same period in FY 2012-13. In terms of the USD, earnings stand at around $566.8 million (using historical exchange rates), up about 28% compared to around $443.5 million (using historical exchange rates) earned during the same period last year.Average basmati rice export prices in the first four months of FY 2013-14 stand at about $931 per ton, down about 3% from around $962 per ton during the same period last year, while average nonbasmati rice prices stand at around $556 per ton, up about 16% from around $478 per ton in July – October 2012.Month-on-month, Pakistan’s rice exports in October 2013 declined to around 193,977 tons, down about 8% from around 212,786 in the previous month, and down about 11% from about 219,249 tons in October 2012. Average basmati rice export prices have increased to around $989 per ton in October 2013, up about 7% from around $922 per ton in September 2013, while average non-basmati rice prices have increased to around $640 per ton, up about 12% from around $570 per ton in the previous month.Pakistan exported about 3.1 million tons of rice worth about $1.98 billion in FY 2012-13 (July – June). Tags: Pakistan rice exports 2013
Thailand Signs Agreement to Export 1.2 Million Tons of Rice to China
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Nov 20, 2013
The Thai government has signed an agreement to export 1.2 million tons of rice to China for delivery in December 2013, according to official sources.Local media had cast doubts over the government-togovernment deal which was reached in September 2013 during the Commerce Minister’s visit to China. Local reports said that there was no official response to the deal from the Chinese side.However, the Commerce Minister confirmed the signing of the agreement with two Chinese state enterprises today. He was quoted by Thailand’s state media, “China has agreed to buy 1.2 million tons of rice and 90,000 tons of cassava while the delivery of all produce is expected to be completed next month.” The Commerce Minister also said that Thailand is on its way to becoming China’s major supplier of agriculture products in the ASEAN region ahead of the region’s integration in 2015.However, the minister dd not divulge the export prices or grade of rice in the agreement. The rice export agreement will boost Thailand’s total rice exports this year which stand at around 4.6 million tons during January – September, 2013, down about 30% from the official target of around 8 million tons. Thailand's rice exports are likely to surge in November and December due to low prices as harvest of the main crop peaks and the government releases rice from its stockpile. Tags: Thailand rice exports
Asia Rice Quotes Unchanged Today Nov 20, 2013
Asia rice sellers kept their quotes mostly unchanged today. 5% Broken Rice Thai 5% rice is quoted around $400 - $410 per ton, on par with Viet 5% rice shown around $400 - $410 per ton. Indian 5% rice is quoted around $410 - $420 per ton, about a $35 per ton premium over Pak 5% rice quoted around $375 - $385 per ton. 25% Broken Rice Thai 25% rice is quoted about $380 - $390 per ton, about a $10 per ton premium over Viet 25% rice shown around $370 - $380 per ton. Indian 25% rice is quoted about $370 - $380 per ton, about a $35 per ton premium over Pak 25% rice quoted around $335 - $345 per ton. Parboiled Rice Thai parboiled rice is quoted around $470 - $480 per ton. Indian parboiled rice is quoted around $380 - $390 per ton, about a $30 per ton discount to Pak parboiled rice quoted around $410 - $420 per ton. 100% Broken Rice
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Thai broken rice, A1 Super, is quoted around $345 - $355 per ton, about a $5 per ton discount to Viet broken rice shown around $350 - $360 per ton. Indian broken sortexed rice is quoted about $310 - $320 per ton, about a $25 per ton discount to Pak broken sortexed rice quoted around $335 - $345 per ton. Tags: Asia rice quotes, Thailand rice quotes, India rice quotes, Vietnam rice quotes, Pakistan rice quotes
Oryza Overnight Recap – Chicago Rough Rice Futures Lower Overnight as Market Pulls Back from Recent High Nov 20, 2013
Chicago rough rice futures for January delivery are currently paused 6 cents per cwt (about $1 per ton) lower at $15.780 per cwt (about $348 per ton) as of 8:00am Chicago time. The other grains are seen mixed this morning ahead of floor trading in Chicago: soybeans are currently seen marginally higher, wheat is seen about 0.2% lower, and corn is paused about 0.4% lower.U.S. stock index futures shifted higher on Wednesday after retail sales climbed more than anticipated in October and inflation remained tame, with Wall Street largely focused on minutes later in the day from the Federal Reserve's last meeting. A Commerce Department report showed retail sales up 0.4% last month, beating expectations of a 0.1% rise and compared to a 0.1% drop the month before. Separate data from the labor Department showed the cost of living fell 0.1% last month, illustrating less costly fuel, cars and clothing. The core consumer-price index, which excludes food and energy, climbed 0.1%.Another report on existing home sales for October is expected from the National Association of Realtors at 10 a.m. Eastern. Optimistic remarks from outgoing Federal Reserve Chairman Ben Bernanke had cheered global markets. U.S. stock index futures are currently trading about 0.2% higher, gold is currently trading about 0.9% lower, crude oil is seen trading about 0.4% higher, and the U.S. dollar is currently trading about 0.1% lower at 8:00am Chicago time. Tags: chicago rough rice futures
India Government Procures 15.7 Million Tons in Ongoing Procurement Drive Nov 20, 2013
Rice procurement by Indian government agencies for the central pool has reached around 15.7 million tons as of November 20, 2013, in the ongoing Kharif marketing season (KMS) which runs from October to September.The Ministry of Consumer Affairs, Food and Public Distribution said that rice procurement so far this year is highest in the northern state of Punjab (about 11.9 million tons) and Haryana (about 3.56 million tons).India is targeting rice procurement of around 34.5 million tons in KMS 2013-14. Tags: India rice procurement
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Oryza Afternoon Recap – Chicago Rough Rice Futures Tumble Following Yesterday’s Failure to Break Multi-Month High; Grains Lower on Good Weather in South America Nov 20, 2013
Chicago rough rice futures for January delivery settled 15.5 cents per cwt (about $3 per ton) lower at $15.685 per cwt (about $346 per ton). Rough rice futures tumbled after being unable to break through the nearby high of $15.895 per cwt (about $350 per ton) in the previous session. The market appears to have topped out and may be in for a period of correction. In addition to the negative technical signal noted yesterday, additional selling pressure likely spilled over from negativity noted in the other grain pits; soybeans finished the day about 0.2% lower at $12.7375 per bushel; wheat finished about 0.5% lower at $6.4725 per bushel; and corn finished the day about 0.2% lower at $4.1700 per bushel. U.S. stocks climbed on Wednesday after economic data showed inflation remained tame, with the October report seen as giving the Federal Reserve room to continue its monthly asset purchases. At 2 p.m. Eastern, minutes from the Federal Open Market Committee's meeting in October are expected, with investors looking for clues as to when the central bank might start curbing its $85 billion in monthly bond buys. After climbing above 16,000, the Dow Jones Industrial Average eased its gains. The S&P 500 remained higher, with health care the best performing and utilities the biggest weight among its 10 major industry groups. The Nasdaq Composite gained as well. U.S. stock markets are currently trading up about 0.1%, gold is trading about 0.9% lower, crude oil is seen trading marginally higher, and the U.S. dollar is seen trading about 0.4% higher at about 2:00pm Chicago time.Turning to the daily continuation chart of Chicago rough rice futures for January delivery, rough rice futures fell today after failing to break through nearby technical resistance at $15.895 per cwt (about $350 per ton) in the previous trading session. This level will continue to act as overhead resistance and likely come into play during an attempt by the bulls to push prices higher. The markets inability to trade above this level has been interpreted as a negative development and likely triggered additional selling today. However, downward momentum was halted by nearby technical support from the 200-day moving average at $15.667 per cwt (about $345 per ton), a point that is closely watched by technical traders. A close below this level tomorrow could likely trigger additional selling on Friday. Today’s trade activity is seen as providing a bearish outlook for tomorrow’s price direction. Today’s trading range is noted as $15.650-$15.825 per cwt (about $345-$349 per ton).Tuesday, there were 465 contracts traded, up from 370 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday decreased by 36 contracts to 8,176. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Oryza Shares Press Release: Arkansas Rice Farmers To Hold Election for Board of Directors 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
Nov 20, 2013
Little Rock, AR. - The Arkansas Rice Farmers (ARF) announced today they will hold elections for the ARF Board of Directors in January at the Arkansas Rice Annual Meeting in Stuttgart.Arkansas Rice Farmers, formally known as Arkansas Rice Producers' Group, was renamed in July to better reflect the mission, membership and work of the organization. ARF is composed entirely of rice farmers and provides a forum for policy development on legislative and regulatory issues impacting the industry."Serving on the Board of Arkansas Rice Farmers is a tremendous opportunity to positively impact the U.S. rice industry by working to shape favorable public policy and protect the interests of hardworking Arkansas rice farmers," said ARF Chairman Dow Brantley of England. The ARF Board is composed of thirty farmer directors, three from each of the state's 10 rice districts who each serve for a term of six years. Terms are staggered, therefore one-half of the board is up for election every three years.Eligible farmers must have rice acreage registered with the United States Department of Agriculture Farm Service Agency (USDA FSA) in the year preceding the election. A farmer is eligible for service in the district where his or her farm acreage is registered.Arkansas farmers interested in seeking a position on the ARF Board of Directors must submit a written request for a candidate petition from the Arkansas Rice Farmers Board by Dec. 16, 2013. Requests must be submitted by email to Katherine@noblestrat.com. Petitions should include 15 signatures of support from USDA FSA registered rice farmers and a candidate biography. The deadline to submit a petition is Jan. 3, 2014. For more information on the election and how to request a petition, go to www.arkansasricefarmers.org/election. The Arkansas Rice Annual Meeting will be held on Jan. 30, 2014 in Stuttgart at the Grand Prairie Center, and is a joint meeting between the Arkansas Rice Farmers and Arkansas Rice Council. Tags: press release, U.S. rice, Arkansas rice, U.S. rice market
Oryza Rice Currency Analysis for Today – U.S. Dollar Rallies on Ideas of Tighter Monetary Policy Nov 20, 2013
U.S. dollar index was up +0.43% from the open today, when it traded at 81.045 at the close. Euro was -0.81% lower today by the close, trading around 1.3429 by end of day, after trading between an intraday high of 1.3579 and low of 1.3415. The FOMC minutes showed tapering will likely begin in the coming months. Thai baht was weaker -0.25%, trading at 31.695 at the close of business.
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Indian rupee was -0.32% weaker, trading at 62.5775. Brazilian real was -0.09% weaker than the open at today’s close, when it ended at 2.2729 reais per dollar. Pakistan rupee was -0.05% weaker trading at 107.5850. Vietnamese dong was +0.04% stronger, trading at 21105. Mexican peso was -0.95% weaker today, when it traded at 13.0912 pesos per dollar by the close of business today. Chinese yuan was almost unchanged at 6.0932. Argentine peso was -0.15% weaker at 6.0461 pesos per dollar. Tags: foreign exchange rates
Oryza U.S. Rough Rice Recap – Market Quiet Ahead of Iraqi Tender Announcement Nov 20, 2013
The U.S. cash market was muted today after bids decreased slightly with the futures market while offers held mostly steady. Analysts suggest that many in the market are hopeful that the U.S. will be awarded part of the latest Iraq tender while others remain skeptical.As of today, offers could be seen around $15.65-$16.66 per fob farm (about $345-$367 per ton), depending on where they are located in the U.S. mid-South, for November through December shipment. Bids from mills decreased slightly to around $15.90 per cwt (about $351 per ton ) or higher while bids from exporters could still be found near $15.56 per cwt (about $343 per ton), both for November through December delivery, although no trades were reported today.In other news, low water levels remain a concern on the lower Mississippi River however things are showing continued improvement that will require monitoring as south bound barge traffic is extremely heavy at the moment. Tags: U.S. rice prices, U.S. rice market
Oryza Quick Glance at World News
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Nov 20, 2013
Financial Times – *Guillermo Moreno, Argentina’s powerful internal trade secretary, resigned on Tuesday, a day after a Marxist professor was put in charge of the economy ministry, heralding a major shift in economic policy. *The U.S. would impose a one-time 20% tax on an estimated $2 trillion of cash held overseas by American multinationals under a proposal from Democrats on the Senate finance committee that would reshape international tax policy. *Venezuela’s legislature on Tuesday granted decree powers to President Nicolás Maduro, as the Chávez successor pledged to wage an “economic war” to battle inflation and shortages. *European banks have accelerated their repayment of more than €1 trillion in cheap central bank loans as they seek to burnish their balance sheets ahead of key stress tests by regulators next year. *The EU has unblocked a long-stalled gas deal to help Ukraine cut its dependence on Russia as Brussels mounts a last-ditch effort to persuade Kiev to sign a pact that would cement closer ties with Europe. *Rupert Murdoch is moving towards an “amicable” divorce settlement with Wendi Deng Murdoch this week, according to people familiar with the situation. The divorce, which was announced in June, has been the subject of intense scrutiny, given the Murdoch family’s voting control of News Corp and 21st Century Fox. *The U.S. Federal Reserve is likely to moderate its asset purchases if new data suggest the jobs market will keep getting better, Fed chairman Ben Bernanke said in a speech on Wednesday. *Devon Energy is close to buying GeoSouthern Energy in a $6 billion deal that will accelerate the US group’s shift away from gas and into more lucrative oil production, according to people familiar with the situation. Wall Street Journal*The uncertain future of U.S. fiscal and central bank policies poses a growing risk to a global economic recovery that has already been weakened by slower growth in many developing countries, the Organization for Economic Co-operation and Development said Tuesday. *Vincent Siew, former vice president of Taiwan, suggested Tuesday it isn't yet time for Taiwan to start delving into political dialogue with China, saying there is still "a long way to go" in developing economic ties between Beijing and Taipei. *J.P. Morgan Chase & Co. has withdrawn from underwriting midtier lender China Everbright Bank Co.'s $2 billion initial public offering in Hong Kong, people with knowledge of the deal said, in a rare late-stage pullout by a bank on an Asian share sale. *United Continental Holdings Inc., facing investor frustration over its lagging financial performance, laid out new goals to cut costs and increase revenue with the aim of at least doubling profit by 2017. The goals include reducing costs by $2 billion a year and increasing nonticket revenue by $700 million annually over the next four years. *Mongolia's gross domestic product could expand as much as 17% next year from around 11% this year, the country's central bank governor said Tuesday, even though foreign investment flows have slowed because of the continuing weakness in coal and copper prices.
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*U.S. and Afghan officials on Tuesday said they were getting closer to a deal for U.S. troops to stay in Afghanistan, but they differed over whether the U.S. had committed to a letter from President Barack Obama acknowledging mistakes made by the U.S. in the war. *India is considering cutting spending by nearly 600 billion rupees, or $9.64 billion, in the current financial year to rein in its ballooning fiscal deficit, two finance ministry officials said. *Spain's national court, acting on a suit filed by Spanish pro-Tibet groups, issued arrest warrants for former Chinese President Jiang Zemin and four other top authorities as part of an investigation into alleged human rights abuses in Tibet. New York Times*China says an emergency medical team from the government and a disaster relief team from the China Red Cross will leave for the Philippines in the coming days in response to the typhoon. *Streets and fields were flooded, homes and cars were submerged, and at least 16 people were killed on the Mediterranean island of Sardinia after 17 inches of rain — half a year’s worth — pummeled the island over a 24-hour period. *Israel’s Supreme Court on Tuesday rejected an appeal for the release of a Kuwaiti-born Palestinian who has been held in Israel without trial for more than three years, accused by the Israeli authorities of being a biological weapons expert in the service of Al Qaeda. *The 18.6% increase in exports in the year to October spurred Japanese exports to their biggest annual increase in three years, suggesting a gradual pick up in global demand will help underwrite a sustainable recovery in the world's third-largest economy. *Despite budget uncertainties, NASA on Tuesday issued a solicitation for a commercially operated space taxi to ferry astronauts to the International Space Station, an attempt to break Russia's monopoly on crew transport by 2017. *A few months of scrambled economic data have not altered the Federal Reserve’s basic view that the American economy is gaining strength, nor its intention to start pulling back soon from its stimulus campaign, the Fed’s chairman, Ben S. Bernanke, said Tuesday evening. Tags: World news
Oryza Global Rice Quotes November 19th, 2013 Long grain white rice - high quality Thailand 100% B grade 410-420 Vietnam 5% broken 400-410 ↔ India 5% broken 410-420 ↔ Pakistan 5% broken 375-385 ↔ Cambodia 5% broken 455-465 ↔ U.S. 4% broken 585-595 ↔ Uruguay 5% broken 625-635 ↔ Argentina 5% broken 625-635 ↔
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Long grain white rice - low quality Thailand 25% broken 380-390 ↔ Vietnam 25% broken 370-380 ↔ Pakistan 25% broken 335-345 ↔ Cambodia 25% broken 425-435 India 25% broken 370-380 ↔ U.S. 15% broken 565-575 ↔
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Long grain parboiled rice Thailand parboiled 100% stxd 470-480 Pakistan parboiled 5% broken stxd 410-420 India parboiled 5% broken stxd 380-390 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken 590-600 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 1050-1060 Vietnam Jasmine 575-585 ↔ India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ ↔ Cambodia Pkha Malis 915-925 ↔ Brokens Thailand A1 Super 345-355 ↔ Vietnam 100% broken 350-360 Pakistan 100% broken stxd 335-345 Cambodia A1 Super 380-390 ↔ 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%
620-630 NQ ↔
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↔ All prices USD per ton, FOB vessel, oryza.com
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