Daily Exclusive
ORYZA Rice E-Newsletter
Daily Exclusive ORYZA Rice E-Newsletter 2015 www.ricepluss.com www.riceplusmagazine.blogspot.com May 22 ,2015 Vol 5,Issue V
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Contact: Mujahid Ali mujahid.riceplus@gmail.com www.ricepluss.com & www.riceplusmagazine.blogspot.com
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Daily Exclusive ORYZA Rice E-Newsletter 2015
El Nino Fears May Force Philippines and Indonesia to Import More Rice This Year, Say Analysts May 21, 2015
Global rice market analysts are predicting Indonesia and the Philippines to import more rice this year to maintain adequate stocks and curb rice price increases amid fears of an impending El Nino, according to Reuters.Reuters quotes government sources as saying that the Philippine president has approved a proposal to import more rice this year to avert a potential spike in food inflation. But the quantity and type of imports are yet to be approved by the National Food Authority (NFA) Council.Last week, the Philippine Statistics Authority (PSA) has estimated the country's paddy production in the first half of this year to decline by about 1.32% to around 8.27 million tons from around 8.38 million tons last year as dry weather has reportedly affected more www.ricepluss.com & www.riceplusmagazine.blogspot.com
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Daily Exclusive ORYZA Rice E-Newsletter 2015 than half of the country's 81 provinces.The Philippines already imported 500,000 tons of rice from Vietnam and Thailand this year. On the other hand Indonesia's new President had been advocating the self-sufficiency principle for certain food items, including rice, and has ruled out any rice imports this year. However, analysts, say the government of Indonesia may have to import rice in order to curtail surging prices amid fears of El Nino affecting the country's rice production.Increased imports by the two South-East Asian nations are likely to help support Asian rice export prices, which have been falling in recent months due to weak demand.Export prices of Thai 5% broken rice, Vietnam 5% broken rice and India 5% broken rice currently stand at around $370 per ton, $355 per ton and $375 per ton respectively compared to $410 per ton, $380 per ton and $390 per ton respectively at the beginning of the year.
European Paddy, Rice Quotes Show Slight Movements in First Week of May 2015 May 21, 2015
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Daily Exclusive ORYZA Rice E-Newsletter 2015 Oryza.com -
European paddy quotes in the weeks between May 05-12 showed some slight movements. However, both Indica and for Japonica varieties received no quotations according to the European quotations supplied by the European Union (EU) on May 12, 2015.Spain - Japonica paddy quotes were unchanged at 292 euros (about $ 323) per ton on May 12. Indica paddy remained unchanged at 285 euros (about $ 316) per ton on May 12. Milled Japonica rice quoted 586 euros (about $ 650) per ton in both weeks. Indica paddy in Badajoz grain exchange remained unchanged at 280 euros (about $ 353) per ton, and in Sevilla grain exchange at 291 euros (about $ 322) per ton. In this period paddy Japonica rice in Badajoz grain exchange was shown at 290 euros (about $ 321) per ton, and in Sevilla grain exchange at 295 euros (about $ 327) per ton. Milled rice in Tarragona was unchanged at 580 euros (about $ 643) per ton, and in Valencia at 597 euros (about $ 662) per ton.Portugal: Portuguese rice received no quotations. Greece – On May 12, medium paddy variety received no quotations, while Long paddy was quoted 500 euros (about $ 554) per ton on May 12, up from 490 euros (about $ 543) per ton of May 5. Indica paddy received no quotations.Romania - On May 12, Japonica paddy prices were slightly down at 338 euros (about $ 374) per ton, from 346 euros (about $ 383) per ton on May 5. Indica paddy quotes were quoted only on May 12 at 340 euros (about $ 377) per ton. As for milled rice, Japonica quotes declined to 717 euros (about $ 795) per ton from 763 euros (about $ 846) per ton on May 5. Indica milled rice was quoted only on May 5 at 635 euros (about $ 704) per ton. Bulgaria - Japonica paddy quotations remained unchanged at 276 euros (about $ 306) per ton. Japonica milled rice prices also remained unchanged at 814 euros (about $ 903) per ton.France - No variety of milled rice was quoted on May 12; on May 5 round milled rice was quoted at 680 euros (about $ 750) per ton, Long A was quoted at 690 euros (about $ 765) per ton, and Long B was quoted at 610 euros (about $ 676) per ton.
FAO Estimates South Korea 2014-15 Rice Imports at 460,000 Tons May 21, 2015
The UN's Food and Agricultural Organization (FAO) estimates South Korea to import 460,000 tons in the marketing year 2014-15 (October - September). It estimates South Korea's total cereal rice imports in 2014-15 at around 14.1 million tons, down about 5% from around 14.84 million tons last year.The FAO forecasts 2015 paddy rice (April - October) production at around 5.5 million tons (around 4.125 million tons, basis milled), down about 3% from last year. Planting of the 2015 rice crop has begun and will continue till the end of June.
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Daily Exclusive ORYZA Rice E-Newsletter 2015 Rains have been below-average over most of the country since May and therefore the FAO estimates the planting operations to be delayed. The government's conversion of agricultural lands for infrastructure purposes has also been reducing the rice acreage for the last few years. The government of South Korea has opened its rice market in January this year ending its 20year import quota system. It decided to impose a 513% tariff on rice imports over and above its mandatory rice imports of 408,700 tons under the World Trade Organization (WTO) minimum market access (MMA) quota. The government is keen on protecting the local rice market from cheap imports.USDA estimates South Korea's milled rice production at around 4.24 million tons in MY 2014-15 (November - October), slightly up from an estimated 4.23 million tons in MY 2013-14. It estimates South Korea to import around 470,000 tons of rice in MY 2014-15, up about 50% from 313,000 tons imported in MY 2013-14.
Global Rice Quotes May 22nd, 2015 Long grain white rice - high quality Thailand 100% B grade 380-390
↔
Vietnam 5% broken
350-360
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India 5% broken
370-380
↔
Pakistan 5% broken
405-415
↔
Myanmar 5% broken
420-430
↑
Cambodia 5% broken
430-440
↔
U.S. 4% broken 465-475
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Uruguay 5% broken
565-575
↔
Argentina 5% broken
555-565
↔
Long grain white rice - low quality Thailand 25% broken
350-360
↔
Vietnam 25% broken
330-340
↔
Pakistan 25% broken
360-370
↔
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Daily Exclusive ORYZA Rice E-Newsletter 2015 Cambodia 25% broken 410-420
↔
India 25% broken
345-355
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U.S. 15% broken
455-465
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Long grain parboiled rice Thailand parboiled 100% stxd
370-380
Pakistan parboiled 5% broken stxd
↔
405-415
India parboiled 5% broken stxd 360-370
↔
U.S. parboiled 4% broken
555-565
↔
Brazil parboiled 5% broken
570-580
↔
Uruguay parboiled 5% broken NQ
↔
↔
Long grain fragrant rice Thailand Hommali 92% 865-875
↔
Vietnam Jasmine
↔
480-490
India basmati 2% broken
NQ
↔
Pakistan basmati 2% broken
NQ
↔
Cambodia Phka Mails
815-825
↔
315-325
↔
Brokens Thailand A1 Super
Vietnam 100% broken 310-320 Pakistan 100% broken stxd Cambodia A1 Super
↑
305-315
350-360
↔
India 100% broken stxd 270-280
↔
Egypt medium grain brokens
NQ
↔
U.S. pet food
↔
365-375
Brazil half grain NQ
↔
↔
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Daily Exclusive ORYZA Rice E-Newsletter 2015 All prices USD per ton, FOB vessel, oryza.com
Italian Paddy Quotes Show Diverse Trends as on May 19, 2015 May 21, 2015
Italian paddy quotes showed diverse trends as on May 19, 2015, with prices of Long A varieties increasing and Indica prices declining.Below are the farm gate paddy quotations supplied by Milan Grain Exchange, as of May 19: Arborio-Volano rice was shown at 740-770 euros (about $ 820-854) per ton, increasing from 720-750 euros (about $ 798-832) per ton as of May 12. Balilla, Centauro and similar varieties paddy prices are slightly lowered at 405-430 euros (about $ 449-477) per ton, from 415-430 euros (about $460-477) per ton of one week prior.Lido, Crono, Flipper and similar paddy varieties are down at 335-350 euros (about $ 387-404) per ton, from 352-367 euros (about $ 390407) on May 12. Padano-Argo was shown at 550-650 euros (about $ 610-721) per ton, unchanged from the prior week. Vialone Nano slightly increased at 743-793 euros (about $ 824-879) per ton from 730-780 euros (about $ 809-865) per ton of May 12.Thaibonnet and similar Indica varieties are firm at 330-340 euros (about $366-370) per ton; Sant'Andrea quoted 535-585 euros (about $ 593-649) per ton on May 19, down from 545-595 euros (about $ 604-660) per ton of a week prior; Carnaroli and similar varieties were fixed at 740-770 euros (about $820-854) per ton, increasing from 720-750 euros (about $ 798-832) per ton of a week prior. Baldo paddy prices went down to 520-570 euros (about $ 603-657) per ton on April 14, starting from 535-585 euros (about $ 593-649) per ton on May 12. Roma was firm at 575-605 euros (about $ 637-671) per ton, unchanged from a week prior.Selenio was shown at 405-430 euros (about $ 449-477) per ton, unchanged from a week prior.Augusto was out at 370-385 euros (about $ 410-427) per ton, down from 383-398 euros (about $ 424-441) per ton of one week prior; Loto and Nembo quoted 370-385 euros (about $ 410-427) per ton, down from 383-398 euros (about $ 424-441) per ton of one week prior; Luna Cl, Dardo and similar varieties were quoted at 337-347 euros (about $ 373-384) per ton, down from 347-367 euros (about $ 384-407) per ton on May 12.
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Daily Exclusive ORYZA Rice E-Newsletter 2015
Duty on Rice Imports Fails to Cheer Farmers Despite Increase in Boro Paddy Prices, Say Experts May 21, 2015
Bangladesh rice farmers are expressing concern that the imposition of import duty of 10% on rice imports has increased Boro (January - May) paddy prices by about 20% since its imposition last week but the increase has not benefited them apparently, according to local sources. Paddy prices are said to have increased to around Tk 600 - Tk 650 per 40 kilograms (around $193 $209 per ton) from last week's Tk 500 - Tk 550 per 40 kilograms (around $161 - $177 per ton) Local sources say most of the farmers had sold their output from the ongoing Boro harvest season even before the duty imposition and are now not left with any stocks to take advantage of the increased prices. Moreover, the prices are below the average production costs of around Tk
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Daily Exclusive ORYZA Rice E-Newsletter 2015 800 per 40 kilograms (around $260 per ton), say farmers.They say the government's decision will only benefit big millers who have stocked enough paddy from the ongoing Boro harvest. Some rice experts in the country told local sources that domestic paddy and rice prices had declined sharply before the Boro harvest due to higher imports, especially from India, despite sufficient production in the country. According to Food Ministry data, Bangladesh's private rice traders have imported around 1.36 million tons of rice from July 1, 2014 - May 7, 2015, compared to only 374,560 tons imported in the whole of 2013-14.Absence of import duty on rice was said to be the main reason for a surge in imports. Therefore the government had imposed a duty of 10% on rice imports, with effect from May 10, 2015. Millers and traders also expressed concern that the government's imposition of duty had led to a sharp decline in rice prices in India, especially in the eastern states and Andhra Pradesh, which usually export non-aromatic parboiled rice to Bangladesh. The duty hike may not protect the interests of farmers in this situation, they said. Some experts suggested that the government could either ban imports from India or increase the procurement price. The government will reportedly procure one million tons of 2015 Boro paddy and 100,000 tons of Boro rice between May 1, 2015 and August 31, 2015. It has fixed the procurement price for paddy at Tk 22 per kilogram (around $283 per ton) and that for rice at Tk 32 per kilogram (around $412 per ton).
Oryza Afternoon Recap - Chicago Rough Rice Futures Trade Higher, Supported by Rally in Wheat and Corn May 21, 2015
Chicago rough rice futures for Jul delivery settled 4.5 cents per cwt (about $1 per ton) higher at $9.615 per cwt (about $212 per ton). The other grains finished the day with mixed results as corn and wheat had a strong showing; Soybeans closed about 0.3% lower at $9.3850 per bushel; wheat finished about 1.8% higher at $5.2200 per bushel, and corn finished the day about 1.4% higher at $3.6500 per bushel.U.S. stocks traded in a narrow range on Thursday as investors kept an eye on the bond market and digested mixed economic reports. The major averages traded mostly higher, recovering mild losses after the 10 a.m. data. The Nasdaq outperformed, up 0.35%.Existing home sales for April fell 3.3%, missing an expected 1% gain to 5.24 million units. Earlier in the week, reports showed home builder www.ricepluss.com & www.riceplusmagazine.blogspot.com
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Daily Exclusive ORYZA Rice E-Newsletter 2015 sentiment fell in May, but housing starts for April came in much better than expected. Manufacturing PMI came in at 53.8 for May, below expectations of 54.5. The initial read showed slowing growth for the second straight month, with new orders increasing at their slowest pace since January last year, financial research firm Markit said. Weekly jobless claims came in at 274,000, above expectations of an increase to 271,000 from the prior week's 264,000. The 4-week moving average remains the lowest since April 2000. The S&P 500 hit a new intraday high on Wednesday and the Nasdaq briefly traded above its closing high before both indices pared gains. The Dow Jones Industrial Average traded up 11 points, or 0.06%, at 18,296. The S&P 500 traded up 6 points, or 0.28%, at 2,131 with energy leading seven sectors higher and financials the greatest decliner. The Nasdaq traded up 17 points, or 0.33%, at 5,088. Gold is trading about 0.4% lower, crude oil is seen trading about 2.4% higher, and the U.S. dollar is seen trading about 0.2% lower at about 1:00pm Chicago time.Wednesday, there were 355 contracts traded, up from 266 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday increased by 103 contracts to 11,272.
Oryza Overnight Recap – Chicago Rough Rice Futures Higher Overnight, Supported by Gains in US Grain Prices May 21, 2015
Chicago rough rice futures for Jul delivery are currently seen paused 5.5 cents per cwt (about $1 per ton) higher at $9.625 per cwt (about $212 per ton) ahead of floor trading in Chicago. The other grains are seen trading higher; soybeans are currently seen about 0.1% higher, wheat is listed about 0.6% higher and corn is currently noted about 0.5% higher.U.S. stock index futures indicated a softer open on Thursday, ahead of existing home sales and following a muted response toWednesday's Fed minutes release, which confirmed market expectations on rate hike timing. Following mixed housing data released earlier this week, existing home sales data is due 10 a.m. ET and is expected to show a 1% gain, to 5.24 million units. Weekly jobless claims came in at 274,000, above expectations of an increase to 271,000 from the prior week's 264,000. The 4week moving average remains the lowest since April 2000. Manufacturing PMI is expected at 9:45 a.m. Finally, the Conference Board's leading indicator index, which forecasts future economic activity, for April at 10 a.m., is expected to register the 15th consecutive increase, given a decline in initial unemployment claims.
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Daily Exclusive ORYZA Rice E-Newsletter 2015 The Fed minutes showed policymakers mostly brushed aside the wobbly start the U.S. economy has had in 2015, attributing the lack of growth to "transitory" factors that will abate soon. However, only a few policymakers supported a June rate hike. European equities were mostly lower on Thursday as investors digested fresh data from the euro zone. Flash manufacturing and services PMI data for the 19-currency single currency zone showed the region's economy continued to lose momentum in May. Gold is currently trading about 0.4% lower, crude oil is seen trading about 1.6% higher, and the U.S. dollar is currently trading about 0.1% lower at 8:30am Chicago time.
Oryza U.S. Rough Rice Recap - Prices Hold Steady despite Dismal Export Sales May 21, 2015
The U.S. cash market was unchanged today despite dismal export sales numbers as most farmers are reluctant sellers at the current price levels being bid.In the meantime, the USDA reported that cumulative net export sales for the week ending on May 14th, totaled 10,900 tons, which was 47% lower than last week and 83% lower than the prior 4-week average.Increases were reported for the following destinations including: 7,400 tons to Honduras, 2,600 tons to Canada, 1,300 tons to Jordan, 600 tons to unknown destinations, and 200 tons to Lebanon, while decreases of 1,200 tons, 900 tons, and 200 tons were reported for Ghana, Mexico, and Colombia, respectively. U.S. rice exporters shipped 86,400 tons, which was 50% higher than last week and 27% higher than the prior 4-week average. The primary destinations included: 22,100 tons to Mexico, 22,000 tons to South Korea, 20,600 tons to Haiti, 13,100 tons to Japan, and 3,000 tons to Canada.
Thailand Seeks to Increase Competitiveness of Thai Rice Globally May 21, 2015
The Thailand Prime Minister (PM) has spelt out strategies to increase competitiveness of Thai rice globally and within the ASEAN during the opening ceremony of the Thailand Rice Convention 2015 on May 20, 2015.The PM told the Convention that the government was taking measures to accelerate the restructuring of rice production management. He noted that the government is planning to focus on farmland consolidation in order to cut production costs. He www.ricepluss.com & www.riceplusmagazine.blogspot.com
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Daily Exclusive ORYZA Rice E-Newsletter 2015 also called for designated rice-farming are as suited to grow specific rice varieties to plan production schedules to meet market demand appropriately.
He also stated that the government would focus on production of higher quality rice varieties while promoting the use of organic fertilizers an bio-fertilizers to maintain quality standards. He also called on millers to make improvements to meet good manufacturing standards.The PM noted that the government is planning to set up a one-stop standardized inspection and quality assurance operations center to ensure enhanced supervision of the rice trading system.Speakers at the Convention called for a joint cooperation between countries to balance rice supply and demand in order to avert fluctuations in prices.
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