24th July , 2014
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TOP Contents - Tailored for YOU Latest News Headlines…
EC to Discuss Italy Request over Duty-Free Rice Imports from EBA Countries on July 23, 2014 Indonesia Signs 50,000 Tons Rice Import Contract with Vietnam Iraq Re-issues Tender to Buy 30,000 Tons of Rice ORYZA Global Rice Quotes Japanese Rice Futures Should be Formally Listed Before August 2015 to Benefit Out of TPP Pakistan Exports 3.16 Million Tons of Rice in FY 2013-14; Down 7% from Last Year Rice Currency Analysis for Today – Brazil Real Slips 0.3% Oryza Afternoon Recap - Chicago Rough Rice Futures Try to Move Higher but Slip under Fresh Round of Selling Philippines to Import Another 500,000 Tons of Rice in 2014 through Open Tender Oryza U.S. Rough Rice Recap - Prices Hold Steady Amid Limited Trade Activity Pakistan Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Prices Drive Italy Rice Farmers to Increase and Change Rice Acreage Prices Drive Italy Rice Farmers to Increase and Change Rice Acreage Paddy Rice Output to Reach Five Year Low Overnight Recap - Chicago Rough Rice Futures Unchanged as Traders Weigh Significance of Recent Movements
News Detail… EC to Discuss Italy Request over Duty-Free Rice Imports from EBA Countries on July 23, 2014 European Commission (EC) will disc The uss the formal request made by the Italian government to the European Union (EU) to adopt a safeguard clause against the duty-free rice imports from the less developed countries (LDCsEuropean Commission (EC) will disc The uss the formal request made by the Italian government to the European Union (EU) to adopt a safeguard clause against the duty-free rice imports from the less developed countries (LDCs) under the Everything But Arms (EBA) agreement on July 23, 2014, according to local sources.Italy formally presented its woes to the EU nearly a
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month after the Italian website www.risoitaliano.eu published Italy's intentions to submit a report to the European Union (EU) about the consequences of duty free imports from EBA countries, on local production and the EU rice sector, especially Italy's rice sector. The Director-General of the European Commission's Directorate-General for Agriculture and Rural Development (DGARD) will decide over how the EC can react to the Italy's request. He is likely to seek further evidences regarding increase in duty-free rice imports from EBA countries and their impact on EU rice production and prices. Meanwhile, localized farmers' groups in Italy have been continuing to protest against imports from EBA countries. On last Friday, nearly 250 farmers, millers and brokers gathered at Mortara, near Milan, to showcase their problems to the government. Farmers' demonstrations in local Italian grain exchanges also came to an end on Friday.The issue of rice imports from EBA countries is likely to be discussed in the Senate. Senators will reportedly present a document to the government seeking its plan of action for EC's reaction to the issue. In the document, they are understood to have mentioned that the Italian rice sector, which is the leader of European rice export market and guaranteed nearly 10,000 jobs to farmers and workers, cannot be neglected. They also noted that rice is being imported from countries which use chemicals prohibited in Italy for decades in European and Italian countries. Therefore, they pleaded the EU to act wisely on the matter.
Indonesia Signs 50,000 Tons Rice Import Contract with Vietnam Jul 23, 2014
Indonesia has finalized an import contract for around 50,000 tons of rice with Vietnam, according to the State Logistics Agency (Bulog), report local sources.Bulog fixed the contract at around Rp 6,000 per kilogram, or around Rp 300 billion (around $25.8 million), Bulog Chairman was quoted as saying.The Bulog Chairman noted that the import is to maintain the targeted 2 million tons of rice in annual reserves with the State Logistics Agency. As of May, Bulog's stockpiles fell to 1.9 million tons. He stated that lower stock piles would weaken the government's ability to control prices of the country's 2013-14 main crop (September 2013 - June 2014) harvests as well as inflation. Though the government has been keen on not importing rice this year with an expectation of reasonably good harvests, floods in certain parts of the country destroyed nearly 116,000 hectares of rice lands affecting around 300,000 tons of rice. An impending El Nino is also expected to affect the output of the country to some extent.While the Bulog Chief did not hint at further imports, local sources say the government may import up to 500,000 tons this year. The Central Statistics Agency (BPS) has estimated Indonesia's paddy rice production in 2014 to reach around 69.8 million tons, down about 2% from an estimated 71.28 million tons in the previous year. USDA estimates Indonesia to produce around 37.36 million tons of rice, basis milled, and import around 1.5 million tons of rice in 2014. It estimates 2014 Indonesia's rice imports to more than double from around
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650,000 tons in 2013, while 2014 production is expected to increase by just 2% from 36.55 million tons in 2013. Consumption in 2014 is expected to increase by 1% to around 38.65 million tons from 38.13 million tons in 2013. Tags: Indonesia rice production, Indonesia rice imports, Bulog, Indonesia rice news
Iraq Re-issues Tender to Buy 30,000 Tons of Rice Jul 23, 2014
Iraq's Trade Ministry has re-issued tender to purchase around 30,000 tons of rice from Argentina, Brazil, Thailand, Vietnam, Uruguay and the U.S., according to Bloomberg.The Ministry issued a tender on June 9 for purchasing 30,000 tons of rice from the same origins, but failed to award the tender to any party. The Ministry is inviting bids for the current tender before August 11, 2014; and the offers would be valid until August 15, 2014. Tags: Iraq rice imports, Iraq Grain Board (IGB), Iraq Trade Ministry
ORYZA Global Rice Quotes July 23rd, 2014 Long grain white rice - high quality Thailand 100% B grade 435-445
↔
Vietnam 5% broken
445-455
↔
India 5% broken
435-445
↔
Pakistan 5% broken
435-445
↔
Cambodia 5% broken
450-460
↔
U.S. 4% broken
550-560
↔
Uruguay 5% broken
625-635
↔
Argentina 5% broken
620-630
↔
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Long grain white rice - low quality ↔
Thailand 25% broken
NQ
Vietnam 25% broken
395-405
↔
Pakistan 25% broken
375-385
↓
Cambodia 25% broken 425-435
↔
India 25% broken
390-400
↔
U.S. 15% broken
530-540
↔
Long grain parboiled rice Thailand parboiled 100% stxd
440-450
Pakistan parboiled 5% broken stxd
↔
450-460
India parboiled 5% broken stxd 420-430
↔
U.S. parboiled 4% broken
630-640
↔
Brazil parboiled 5% broken
NQ
↔
Uruguay parboiled 5% broken NQ
↔
↔
Long grain fragrant rice Thailand Hommali 92% Vietnam Jasmine
1000-1010 595-605
↔
India basmati 2% broken
NQ
↔
Pakistan basmati 2% broken
NQ
↔
Cambodia Phka Malis 835-845
↔
↔
Brokens Thailand A1 Super
NQ
↔
Vietnam 100% broken 340-350 Pakistan 100% broken stxd
↔
325-335
↓
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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
1025-1035
Egypt medium grain 6%
NQ
↔
↔
All prices USD per ton, FOB vessel, oryza.com
Japanese Rice Futures Should be Formally Listed Before August 2015 to Benefit Out of TPP Jul 23, 2014
Formal listing of rice futures is important for Japan under the Trans-Pacific Partnership (TPP), according to the Head of the Osaka Dojima Commodity Exchange (ODCE) - only commodity exchange in Japan that allows trading in rice futures.The Agriculture Ministry allowed trading in rice futures in August 2011 for a two-year trial basis, and extended it for another two years in August 2013. The trial period would end next year, and before that the rice futures need to be formally listed. The Ministry has hinted at possibility of not further extending the trial period.To apply for formal listing, daily volume of trading should be at about 2,000 contracts during the trial period. But the ODCE often falls short of 1,000 contracts, a day. In FY 2103, total volume of trading was at 196,400 contracts, slightly up compared to around 195,344 contracts in FY 2012. Also, analysts say with formal listing of rice futures by China’s Zhengzhou Commodity Exchange late last year, Japanese rice prices may be affected depending on regulations worked out in the Trans-Pacific Partnership (TPP).For formal listing by next year August, the ODCE needs to overcome several hurdles such as achieving desired trading volume as well as convincing major agricultural groups in Japan like the National Federation of Agricultural Cooperative Associations, or Zen-Noh, to actively participate in trading.
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Pakistan Exports 3.16 Million Tons of Rice in FY 2013-14; Down 7% from Last Year Jul 23, 2014
Pakistan has exported around 3.16 million tons of rice in the fiscal year 2013-14 (July 2013 - June 2014), which is down about 7% from around 3.4 million tons of rice exported in FY 2012-13, according to provisional data from the Pakistan Bureau of Statistics (PBS).
Pakistan’s basmati rice exports in FY 2013-14 stood at around 637,715 tons, down about 5% from around 674,048 tons exported in the previous year. Pakistan's non-basmati rice exports in FY 2013-14 have also declined to around 2.52 million tons, down about 8% from around 2.73 million tons exported in the previous year. However, Pakistan’s rice exports are up in terms of value. Pakistan has earned about $2.185 billion from total rice exports in FY 2013-14, up about 14% from around $1.922 billion (using historical exchange rates) earned in FY 2012-13. Earnings from basmati rice exports in 2013-14 stood at around $658 million, down about 1% from around $666 million in the previous year, while non-basmati rice exports' earnings stood at around $1.53 billion, up about 21% compared to around $1.26 billion (using historical exchange rates) in the same period in FY 2012-13.
Rice Currency Analysis for Today – Brazil Real Slips 0.3% Jul 23, 2014
U.S. dollar index was stronger +0.05% from the open today, when it traded at 80.815 at the close.
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Euro was weaker -0.03% by the close, trading around 1.3462 by end of day, after trading between an intraday high of 1.3474 and low of 1.3455. Thai baht was weaker -0.08%, trading at 31.786 at the close of business. Indian rupee was stronger +0.24% at 60.1050. Brazilian real was weaker -0.30% at 2.2194 reais per dollar. Pakistan rupee was -0.08% weaker at 98.8850. Vietnamese dong was -0.05% weaker at 21230. Mexican peso was stronger +0.06% today, when it traded at 12.9356 pesos per dollar by the close of business. Chinese yuan was stronger +0.08% at 6.1986. Argentine peso was weaker -0.02% at 8.1680 pesos per dollar.
Oryza Afternoon Recap - Chicago Rough Rice Futures Try to Move Higher but Slip under Fresh Round of Selling Jul 23, 2014
Chicago rough rice futures for Sep delivery settled 4.5 cents per cwt (about $1 per ton) lower at $13.120 per cwt (about $289 per ton). The other grains finished the day higher; soybeans closed about 1.8% higher at $10.7650 per bushel; wheat finished about 1.2% higher at $5.3175 per bushel, and corn finished the day about 0.7% higher at $3.7175 per bushel.U.S. stocks mostly rose on Wednesday, with the S&P 500 hitting another record, as investors weighed earnings from companies and tracked developments in Ukraine and the Middle East. The Dow Jones Industrial Average fell 16.03 points, or 0.1%, to 17,097.51. The S&P 500 rose to another intraday record, and was lately 4.43 points, or 0.2%, at 1,987.91, with health care the best performing and industrials the worst among its 10 major industry groups. The Nasdaq advanced 17.46 points, or 0.4%, to 4,473.48. The only economic data expected for the day came before the bell, with applications for mortgage refinancing jumping 4%, the Mortgage Bankers Association said. However, the report showed that home purchase loan applications were down 15% from a year ago. Gold is trading about 0.1% lower, crude oil is seen trading about 0.7% higher, and the U.S. dollar is seen trading slightly higher at about 1:00pm Chicago time.Tuesday, there were 404 contracts traded, up from 281 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday decreased by 58 contracts to 8,391.
Philippines to Import Another 500,000 Tons of Rice in 2014 through Open Tender Jul 23, 2014
The Philippines National Food Authority (NFA) Council has approved import of another 500,000 tons of rice this year to replenish the country's rice stocks amid huge withdrawals due to losses brought about by Typhoon
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Glenda last week, according to local sources.Presidential Assistant for Food Security told local sources that the additional 500,000 tons of rice would be imported through an open tender, which would be held on August 12, 2014 and for delivery in the first half of September 2014. He noted that the government hiked its latest importation plan to 500,000 tons from 200,000 tons following devastation by Typhoon Glenda.The new imports would be over and above the initially planned 800,000 tons imports from Vietnam, which are likely to fully arrive by the end of August 2014.With the additional imports, Philippines 2014 rice imports are expected to reach around 1.3 million tons. This is the first time the Philippines rice imports are crossing one-million mark after they hit a record 2.45 million in 2010. The Philippines government had agreed to purchase an additional 200,000 tons of rice from Vietnam during the last week of June. Whether that contract would be void is still not known. USDA estimates the Philippines will import around 1.45 million tons of rice in 2014, including around 250,000 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.
Oryza U.S. Rough Rice Recap - Prices Hold Steady Amid Limited Trade Activity Jul 23, 2014
The U.S. cash market continues to hold steady amid limited trade activity as buyers and sellers play chicken, waiting to see who will blink first.As of today, old crop offers were unchanged near $15.00 per cwt fob farm (about $331 per ton) for July-August shipment while others sellers are still looking for at least $16.00 per cwt fob farm (about $355 per ton). Bids from exporters could still be found near $14.25 per cwt (about $314 per ton) for July-August delivery which continues to generate zero interest while some smaller mills are still said to be paying close to $16.00 per cwt (about $353 per ton) for limited quantities for the same delivery period.Meanwhile, the Iraqi Grain Board issued another tender, after canceling their last tender, for at least 30,000 tons of long grain white rice of either U.S., Uruguayan, Argentine, Brazilian, Vietnamese, or Thai origin. Offers need to be submitted no later than Aug 11 and must remain valid through Aug 15.
Pakistan Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Jul 23, 2014
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Pakistan rice sellers lowered their quotes for 25% broken rice and 100% broken rice by about $10 per ton each to around $375 - $385 per ton and around $325 - $335 per ton respectively today. Other Asia rice sellers kept their quotes mostly unchanged. 5% Broken Rice Thailand 5% rice (of new crop) is quoted at around $420 - $430 per ton, about $25 per ton discount to Vietnam 5% rice quoted at around $445 - $455 per ton. India 5% rice is quoted at around $435 - $445 per ton, on par with Pakistan 5% rice quoted at around $435 - $445 per ton. 25% Broken Rice Thailand 25% rice (of the old crop) was last quoted at around $350 - $360 per ton, about $45 per ton discount to Vietnam 25% rice quoted at around $395 - $405 per ton. India 25% rice is quoted at around $390 - $400 per ton, about $15 per ton premium on Pakistan 25% quoted at around $375 - $385 per ton, down about $10 per ton from yesterday. Parboiled Rice Thailand parboiled rice (of the old crop) is quoted at around $440 - $450 per ton. India parboiled rice is quoted at around $420 - $430 per ton, about $30 per ton discount to Pakistan parboiled rice quoted at around $450 $460 per ton. 100% Broken Rice Thailand broken rice, A1 Super, (of the old crop) was last quoted at around $310 - $320 per ton, about $30 per ton discount to Vietnam broken rice quoted at around $340 - $350 per ton. India broken sortexed rice is quoted at around $315 - $325 per ton, about $10 per ton discount to Pakistan broken sortexed rice quoted at around $325 - $335 per ton, down about $10 per ton from yesterday. Tags: Vietnam rice prices, India rice prices, pakistan rice prices, Thailand rice prices
Prices Drive Italy Rice Farmers to Increase and Change Rice Acreage Jul 23, 2014
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Italy’s Ente Nazionale Risi, the National Agency for Rice, has confirmed on July 18 that Italian rice acreage has slightly increased in 2014 from the previous year. In 2013, 216,019 hectares were registered and in 2014 that number has increased 1.6% to 219,650 hectares.Italy has also seen changes to the varieties that are planted. Planting acres of Long B rice, used for exports, decreased 21.7%, from 71,446 hectares in 2013 to 55,900 hectares in 2014. Lower prices in the latter part of crop year 2013 likely contributed to this shift. Conversely, acreage of Long A rice increased 25%, from 83,064 hectares in 2013 to 103,900 hectares in 2014. Long A for domestic use increased 21.3%, from 42,442 hectares in 2013 to 51,500 hectares in 2014. Long A for domestic use represents almost 25% of the total acreage, mostly due to high price quotations.Medium grain varieties increased about 28.7%, although total acreage remains marginal at about 6,850 hectares, and round varieties decreased about 5.6% to 53,000 hectares.
Prices Drive Italy Rice Farmers to Increase and Change Rice Acreage Jul 23, 2014
Italy’s Ente Nazionale Risi, the National Agency for Rice, has confirmed on July 18 that Italian rice acreage has slightly increased in 2014 from the previous year. In 2013, 216,019 hectares were registered and in 2014 that number has increased 1.6% to 219,650 hectares.Italy has also seen changes to the varieties that are planted. Planting acres of Long B rice, used for exports, decreased 21.7%, from 71,446 hectares in 2013 to 55,900 hectares in 2014. Lower prices in the latter part of crop year 2013 likely contributed to this
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shift. Conversely, acreage of Long A rice increased 25%, from 83,064 hectares in 2013 to 103,900 hectares in 2014. Long A for domestic use increased 21.3%, from 42,442 hectares in 2013 to 51,500 hectares in 2014. Long A for domestic use represents almost 25% of the total acreage, mostly due to high price quotations.Medium grain varieties increased about 28.7%, although total acreage remains marginal at about 6,850 hectares, and round varieties decreased about 5.6% to 53,000 hectares.
Paddy Rice Output to Reach Five Year Low Jul 23, 2014
Thailand's paddy rice output in 2013-14 is likely to decline to around 34 million tons, down about 10% from around 37.4 million tons produced in 2012-13 due to drought and the abandonment of the rice pledging scheme, according to local sources.The President of the Thai Rice Packers Association told local media sources that paddy rice output in the current year would be lowest since 2009-20, when Thailand produced around 32.4 million tons of paddy. He noted that the production has been affected by drought as well as lack of a price subsidy discouraged farmers from planting rice.According to a Bloomberg survey of 10 farmers in Thailand's biggest rice growing regions, drought spread across 40 of Thailand's 77 provinces since December and rainfall in May was around 31% lower than 30-year average.Though decline in production is likely to affect farmers' incomes, it is certainly a good news to the military government, which is keen on releasing as many as rice stocks as possible.Meanwhile, the Commerce Ministry, concerned state agencies and stakeholders in the rice industry finalized the five development and six marketing strategies for implementation from 2015-20. The strategies will be presented before the military government by the end of this month.The Rice Department has planned a pension of about 4,000 baht (around $125) per month for rice farmers after their retirement. But to be eligible to this pension, rice farmers should contribute to a rice development fund for at least 15 years (during their working years), according to its Director-General. Advertise
Overnight Recap - Chicago Rough Rice Futures Unchanged as Traders Weigh Significance of Recent Movements icago rough rice futures for Sep delivery were noted unchanged at $13.165 per cwt (about $290 per ton) during early trading in Chicago. The other grains are seen mostly higher this morning in floor trading in Chicago: soybeans are currently seen about 0.6% higher, wheat is listed about 0.4% higher and corn is noted about 0.2% lower. U.S. stocks wavered on Wednesday, with the S&P 500 hitting another record, with investors weighing earnings from companies. The only economic data expected for the day came before the bell, with applications for mortgage refinancing jumping 4 percent, the Mortgage Bankers Association said. However, the report showed that home purchase loan applications were down 15% from a year ago. The Dow Jones Industrial Average fell 34.70 points, or 0.2 percent, to 17,078.84. The S&P 500 rose to another intraday record, and was lately up 1.29 points at 1,984.75. The Nasdaq advanced 5.16 points to 4,461.33. US stock indexes are currently seen about 0.2% lower, gold is currently trading about 0.2% higher, crude oil is seen trading about 0.2% higher, and the U.S. dollar is currently trading about 0.1% lower at 9:30am Chicago time.ags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
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