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TOP Contents - Tailored for YOU NEWS DETAILS: Mid-South rice this week - May 26, 2014 May 26, 2014Ed Phillips | Delta Farm Press
Rice production this week in the Mid-South: Is that sheath blight or not? Arkansas’ DD50 program changes. Louisiana prepares for rice water weevils. MSU scientists change rice stink bug advice. Crop injury in Arkansas. Armyworms in Mississippi rice. Rice disease checklist.With Mid-South rice planting nearing completion, growers are turning their attention to flooding fields and monitoring for insect pests and diseases. Here’s a roundup of what’s happening in the region’s rice fields.
Sheath blight or not? “Correct disease identification is important since several rice diseases and disorders look like sheath blight or blast," says Don Groth of the LSU Rice Research Station. In his 2014 Rice Disease Newsletter No. 7, Groth provides photographs to help identify sheath blight and leaf blight from other diseases.
Arkansas’ DD50 program changes Some changes have been made to the online DD50 program for rice this year. Access the DD50 program for 2014.
Louisiana: rice water weevils Lousiana rice farmers should be prepared to deal with their worst insect pest, the rice water weevil, says LSU AgCenter entomologist Mike Stout. Many fields are being flooded, and that is the trigger for weevils to start laying eggs on the young rice plants. After hatching, the weevil larvae then feed on the rice plant roots. Stout says the cold
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winter and spring delayed the weevil emergence, but they have appeared as the temperatures have risen. “They’re out in good numbers now,” he says. Watch for rice weevils with warmer weather. MORE ON MID-SOUTH RICE
The latest rice market, futures, and commodity news plus rice production, harvesting, storing and marketing information from Delta Farm Press.
MSU scientists change rice stink bug advice Mississippi rice producers may need to intensify their treatment of the most important late-season pest in rice based on new recommendations from researchers at the Delta Research and Extension Center. Jeff Gore, Mississippi State University Extension Service entomologist, conducts research with the Mississippi Agricultural and Forestry Experiment Station. He said past recommendations for rice stink bug treatment were based on a time frame rather than a growth stage. Get up-to-date on the new recommendations.
Crop injury Injury to the Arkansas rice crop was common last week and it wasn’t pretty. Most of the rice fields have a couple of things in common – planted in late April to early May, and plants are short or stunted. Height reduction seems due to PRE herbicides, cold temps, and heavy rain. All of these things together seem to have resulted in unhealthy rice plants that don’t seem to be capable of overcoming adverse conditions and seedling diseases when they normally should, say Arkansas Extension specialists. In the May 23 Arkansas Rice Update they describe the problems and what growers can do to help their crops along.
PhilRice recommends rice varieties to take on El Niño THE PHILIPPINE Rice Institute (PhilRice) has recommended the cultivation of several early-maturing and drought-tolerant rice strains in preparation for the El Niño phenomenon expected to affect the country late this year. A rice store selling different varieties of rice. -- J.L. Cellona
“PhilRice is ready and united to provide the needed support to mitigate the negative impacts of this extreme climate event on the livelihood of our farmers,” Eufemio T. Rasco, Jr., the agency’s executive director, was
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quoted saying in a statement yesterday from the Department of Agriculture (DA).Early-maturing strains recommended for the wet season may be harvested before the predicted dry spell, while PhilRice breeder Dr. Nenita V. Desamero explained in the statement that drought-tolerant varieties can survive even with limited water supplies.“Drought-tolerant varieties are recommended in areas that are regularly stressed and lack water supply. But for rainfed areas with enough and fully distributed water from planting to harvesting, irrigated varieties can be used to exploit their high yield potential,” she added.
Of the early-maturing varieties, the DA listed three strains including PSB Rc10 (“Pagsanjan”) for irrigated lowlands, and four strains including NSIC Rc192 (“Sahod Ulan 1”) for rain-fed lowland fields.The list of drought-tolerant rice, some of which the DA noted have a maximum yield of 6.7 tons per hectare (t/ha), includes 11 other Sahod Ulan varieties for rain-fed lowlands and three strains including PSB Rc9 (“Apo”) for upland cultivation.Ms. Desamero noted that farmers should carefully choose a variety, as the different strains may produce varied results depending on the environment and circumstance.In a phone interview, Mr. Rasco said that PhilRice has stepped up variety development after the 2010 El Niño experience, adding that the Institute had to be more aggressive in convincing farmers to be proactive, as they would not seek resistant types until a drought actually occurred.He noted that while the “added value” of combined resiliency traits from other strains makes newer varieties more attractive, the absence of drought could result in poorer yield compared with rice bred for normal conditions.
The DA noted that these measures were based on revised estimates by the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA) that the El Niño phenomenon will affect the country in the fourth quarter of this year and the first quarter of next year. PAGASA’s rice vulnerability map showed Cagayan, Isabela, Nueva Ecija, Tarlac, Pangasinan, Camarines Sur, Iloilo, Negros Occidental, Bohol, Leyte, and some areas in Mindanao as provinces susceptible to damage, the DA said.Anthony Joseph R. Lucero, officer-in-charge of PAGASA’s Climate Monitoring and Prediction Section, explained in a separate phone interview that, as of mid-May, the agency predicts the phenomenon has a “50-50” chance of occurring.He noted that PAGASA will only know if El Niño is developing once warming of sea surface temperatures in the Pacific are sustained by the end of June and early July.There we will see a lot of rain beginning the second half of June, and the computer models suggest that one or two tropical cyclones might develop,” Mr. Lucero added, predicting intense rainfall and potential flooding in Central Luzon. -- Anton Joshua M. Santos
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Oryza U.S. Rough Rice Recap - Quiet Market as Standoff Continues May 23, 2014
As of today, old crop offers held firm near $16.33 per cwt fob farm (about $360 per ton) for May-June shipment; however, as you look for shipment into July and August most sellers have their sights set on at least $16.66 per cwt fob farm (about $367 per ton).Bids from most larger mills decreased to around $15.00 per cwt (about $331 per ton) for May-June delivery while bids for exporters could still be found around $16.00 per cwt (about $353 per ton), for the same delivery period. However, no trades were reported. Tags: U.S. rice prices; U.S. rice market
Oryza White Rice Index - Quotes Holds Steady on Mixed News Out of Thailand Political Crisis May 23, 2014
The Oryza White Rice Index, a weighted average of global white rice export quotes, ended this week at about $456 per ton, up about $1 per ton from a week ago, up about $4 per ton from a month ago and down about $33 per ton from a year ago. The global rice market is waiting to see the impact of Thailand military coup and the progression/resolution of the nation’s political crisis. So far, the caretaker government has ruled out paddy prices support (bearish) but has also said it will stop selling from rice stockpiles (bullish). Thailand Thailand 5% broken rice is today shown at about $370 per ton, unchanged from a week ago, down about $10 per ton from a month ago and down about $155 per ton from a year ago. Earlier this week, the caretaker Thailand government proposed a new date for the general election, recommending August 3 instead of July 20, due to disruptions in the government’s meeting with the Election Commission (EC). Then the Thailand Army Chief declared Martial Law in the country on Tuesday and declared a military coup on Thursday. It is too early to tell how the coup will impact the country’s imports/exports. However, the caretaker government says rice sales from stocks accumulated under the nation’s rice mortgage scheme will discontinue as the government lacks constitutional right to continue. The government has also ruled-out any price support for paddy farmers.
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Thailand’s second rice crop for 2013-14 (January-July) has almost reached its harvesting stage, but it has been severely affected by ongoing drought conditions, according to local media. Thailand’s Finance Ministry has estimated losses from the rice pledging scheme are about 500 billion baht (about $15 billion), since its inception, according to local sources. India India 5% broken rice is today quoted at about $430 per ton, up about $5 per ton from a week ago and a month ago and down about $15 per ton from a year ago.
The Indian Institute of Tropical Meteorology (IITM)'s monsoon forecast for this year predicts delayed monsoon and as a result, inadequate first spell of rainfall which is unfavorable to sowing seeds, especially rice. With basmati rice acreage expected to grow this year, some farmers are worried that prices will decline. Vietnam
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Vietnam 5% broken rice ended the week at about $405 per ton, down about $5 per ton from a week ago but up about $15 per ton from a month ago and up about $25 per ton from a year ago. During the period January 1 – May 15, Vietnam exported about 1.932 million tons of rice, about 31% less than they exported January-May 2013, according to the Vietnam Food Association (VFA). Chinese military troops have been marching towards the Vietnam border, seemingly in response to anti-China protests in Vietnam after the China National Offshore Oil Corporation began setting up an oil rig about 120 nautical miles away from Vietnam waters near the Paracel Islands. This move suggests a conflict between the two countries is imminent. China is a major destination for Vietnam rice exports (both official and smuggled) and local sources say that Vietnam rice exports to China have slowed. Pakistan Pakistan 5% broken rice is today shown at about $430 per ton, up about $5 per ton from a week ago, up about $15 per ton from a month ago and down about $10 per ton from a year ago. Pakistan rice millers are protesting against inadequate power supply to their rice mills, according to local sources. The Federal Minister for Water and Power gave the Water and Power Development Authority permission to withhold power to the rice mills upon allegations of mills stealing power. The mills dispute the claims. During the first ten months of the current fiscal year (July 2013-June 2014), Pakistan has exported about 2.66 million tons of rice, down about 5% from the same period in FY 2012-13, according to data from Pakistan Bureau of Statistics. However, in terms of value, Pakistan’s exports were about 18% higher than the same period last FY. Brazil There are no quotations for Brazil 5% broken rice; 5% broken rice from Uruguay and Argentina is today shown at about $625 per ton, unchanged from a week, a month and a year ago. The Brazilian paddy rice index maintained by CEPEA reached at about 36.33 real per 50 kilograms as of May 19, 2014, up about 0.6% from about 36.11 real per 50 kilograms recorded on May 12, 2014. In terms of USD per ton, the index was around $329 per ton on May 19, 2014, up about 1% from about $326 per ton recorded on May 12, 2014. Mexico’s Secretary of Agriculture, Livestock, Rural Development, Fishing and Food (SAGARPA) has approved the importation of Brazil rice paddy into Mexico in 2014. U.S. U.S. 4% broken rice is today shown at about $585 per ton, unchanged from a week and a month ago and down
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about $45 per ton from a year ago. The USDA estimates that as of May 18th, 87% of the US rice crop had been planted. This is 9% more than this time last year, and 5% more than the previous 5-year average. The USDA also estimates that 69% of the U.S. rice crop had emerged, which was 11% more than this time last year. The USDA reports that cumulative net export sales for the week ending May 15 totaled 64,500 tons, considerably higher than last week and the prior 4-week average. U.S. rice exporters shipped 90,600 tons, 5% higher than the previous week and 42% higher than the 4-week average. Old crop offers this week were found for about $16.33 per cwt fob farm (about $360 per ton) for May-June shipment, but most sellers were holding out for $16.66 per cwt fob farm (about $367 per ton). Bids from larger mills started the week about $15.05 per cwt (about $332 per ton) but increased to $15.10 per cwt (about $333 per ton) later in the week. Bids for exporters remained unchanged at about $16.00 per cwt (about $353 per ton), and smaller mills were buying at $16.10 per cwt fob farm (about $355 per ton) throughout the week. There was little to no trading activity for new crop, as buyers and sellers remain about $0.50-$1.00 per cwt apart (about $11-$22 per ton). Chicago rough rice futures for July delivery prices mostly declined this week, opening Monday at $15.425 and closing a full ten cents lower that day. Prices hovered around both sides of $15.300 most of the week, reaching a low of $15.210 on Wednesday and closing the week at $15.240. Other Markets A study by the Philippine Institute for Development Studies (PIDS) found that the decline in official rice imports is what led to a surge in rice prices during 2013, not price manipulation by rice cartels as some had believed. However, the study noted that smuggling continues to run rampant in the Philippines. The Dutch Ministry of Foreign Affairs and a non-profit international organization in the Netherlands, together with the World Food Program, will help Ghana increase rice production under a two-year project called “Procurement Governance for Grown School Feeding Project,� according to local sources. Average white rice prices in Colombia declined to about 1.881 million pesos per ton in May, down about 5% from May 2013. Rice imports to Bangladesh have soared lately, reaching 374,560 tons of rice on May 19. In FY 2012-13, the country only imported 28,930 tons of rice total. At the same time, their rice import values have also increased to about $229.59 million during the first nine months of the fiscal year (July 2013-June 2014), up nearly 14 times from the same period in FY 2012-13. Nearly 80% of the total Italian paddy available from the 2013-14 crop year has already been sold. Farmers in Italy have planted their new crops and flooded rice fields.
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The newly-formed Cambodia Rice Federation (CRF) has elected its first chairman – a man who happens to be the son of Cambodia’s deputy prime minister and the CEO of a business conglomerate that includes rice milling and exporting, causing some to view him with suspicion. The new chairman says he hopes to improve rice quality and lower borrowing rates. Cambodia 5% broken rice is today shown at about $440 per ton, unchanged from a week and a month ago. Rice production in Australia is expected to reach 800,000 tons this year, down about 11% from a target of 899,000 tons. The Philippines-based International Rice Research Institute (IRRI) is urging for the establishment of a rice index and futures exchange in Asia, according to local sources. The Agriculture Ministry of Kenya plans to increase rice production in the country in efforts to curb food shortage and increase food security, according to local sources. Tags: Oryza White Rice Index (WRI), global rice prices, thailand political uncertainty
Oryza Rice Currency Analysis for Today – Currencies Little Changed May 23, 2014
U.S. dollar index was up +0.13% from the open today, when it traded at 80.354 at the close. Euro was weaker -0.18% by the close, trading around 1.3631 by end of day, after trading between an intraday high of 1.3660 and low of 1.3616. Thai baht was stronger +0.05%, trading at 32.555 at the close of business. Indian rupee was weaker -0.08% at 58.5075. Brazilian real was weaker -0.31% at the close of trading today, trading at 2.2228 reais per dollar. Pakistan rupee was -0.04% weaker at 98.8458. Vietnamese dong was weaker -0.06% at 21148. Mexican peso was stronger +0.22% today, when it traded at 12.8512 pesos per dollar by the close of business. Chinese yuan was weaker -0.01% at 6.2361.
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Argentine peso was weaker -0.01% at 8.0640 pesos per dollar. Tags: foreign exchange rates, rice currencies, Global rice trade
Delayed Monsoon in India Means Poor First Rainfall May 23, 2014
The Indian Institute of Tropical Meteorology (IITM)'s monsoon forecast for this year predicts delayed monsoon and as a result, inadequate first spell of rainfall which is unfavourable to sowing seeds, especially rice. Absence of a low pressure system over the Arabian Sea could slow the monsoon’s progress.Usually, monsoon comes to Kerala coast (from where it enters India) by June 1 and then reaches northwards and central India by June 12. This year, the southwest monsoon will begin its journey in India by June 3. Thus, it will affect the sowing of pre-kharif rice which is taken up during May to August.The main rice growing season in the country is the 'Kharif'. It is known as winter rice as per the harvesting time. The sowing time of winter (kharif) rice is June-July and it is harvested in November-December. More than 80% of India’s rice is grown in this season. Last year, the monsoon visited the country two days ahead of the weather forecast and brought above-average rainfall across the country which helped the country register record grains production.
India to Sow More Basmati Rice this Year, Prices May Decline May 23, 2014
After the price of basmati rice rose last year, Indian farmers are hoping to sow around 5-10 % more rice this year. The price of basmati rose nearly 13 per cent from 2012-13 to 2013-14, thanks to demand overseas. The projection for basmati export is four million metric tonnes as compared to 3.75 metric tonnes last year.However, experts warn that more supply may affect the price. Also, demand for
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more export may not rise at the same pace as Iran has complicated import procedures. About one-third of India's export goes to Iran.With the Meteorological department predicting a five per cent shortfall in monsoon this year, El Nino threat on kharif crops looms large.
Tags: Basmati rice India price decline
European Union Total Rice Exports Increase to 147,149 Tons in September 1, 2013 May 13, 2014; Up 26% from Last Year May 23, 2014
The European Union (EU) total rice exports, including milled, husked and half-milled rice exports, increased to about 147,149 tons between September 1, 2013 and May 13, 2014, up about 26% from about 116,841 tons exported during the same period in the previous year, according to data supplied by the EU. Milled Japonica rice accounted for 115,740 tons, or 79% of EU's total rice exports, while milled Indica rice accounted for 23,712 tons, or 16% of EU's total rice exports. Japonica husked rice accounted for 5,673 tons and Indica husked rice accounted for 1,524 tons. Half-milled Japonica rice exports stood at 408 tons and half-milled Indica rice exports stood at 92 tons.Total milled rice exports (Japonica and Indica) increased to 139,452 tons in September 1, 2013 - May 13, 2014, up about 29% from about 107,739 tons exported during the same period last year. Total husked rice exports declined to 7,179 tons, down about 15% from about 8,492 tons exported last year. Total half-milled rice exports also declined to 500 tons, down about 18% from about 610 tons exported last year. According to the EU data, Italy stood as the largest exporter of rice in the EU between September 1, 2013 May 13, 2014 with 90,314 tons rice exports. Other major rice exporters in the EU included Italy, Spain, Portugal, Bulgaria, Lithuania, Greece, Romania and the UK. Countries such as Belgium, Denmark, Germany, France, Netherlands, Austria, Poland, Slovenia, Finland and Sweden exported less than one thousand tons each. Tags: european rice exports, EU rice exports, EU rice trade
Rice Goddesses of Southeast Asia May 23, 2014
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In Southeast Asia, where rice is a dietary staple and the foundation of the region’s economy, it’s not surprising that the grain has become associated with the divine. Sacred and revered, for centuries rice goddesses have been part of Southeast Asian cultures.In Indonesia, the rice goddess Dewi Sri, a symbol of life and fertility, is worshipped in many parts of Java and Bali to ensure the health, wealth, and prosperity of rice farmers. Believed to have the power of bestowing a good crop season, Dewi Sri is paid homage every year at the Rice Harvest Festival where offerings are given to thank her for abundant harvests.In Thailand, the Siamese rice goddess, Mae Po Sop is worshipped by a series of offerings given to her at every significant stage of rice production. This is to assure rice farmers that the village will be blessed with a bountiful harvest. Each year, sacred seeds are scattered by the Lord of the Royal Ploughing Ceremony in Bangkok. At the end, audience members scramble to collect the seeds to mix with their own for good luck.
Cambodia has a similar tradition in honor of their rice goddess, Po Ino Nogar, who is thought to protect the
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Tags: rice goddeses, rice cultu
1,600 Rice Mills in India to Go on Strike Next Week May 23, 2014
Over 1,600 rice mills in India will shut down their operations next week if the government fails to clear dues worth Rs 62 crore (about $10.6 million) to them. Even the temporary closure may create a crisis especially since paddy has started arriving at rice mills for hulling.The Karnataka State Rice Millers Association said the state has not yet paid the mills for supplying of rice under a public distribution scheme. The rice mills claimed they had supplied rice worth Rs. 388.78 crore (US 6,620,830 $) for the scheme. Nearly 80 mills are reportedly on the verge of closure as government has held up their money for the last three months.The rice millers association also said the state has not yet paid the mills for supplying of rice under a public distribution scheme. The rice mills claimed they had supplied rice worth Rs. 388.78 crore ($6.6 million) for the scheme. Nearly 80 mills are reportedly on the verge of closure as government has held up their money for the last three months. The rice millers association also bemoaned that they cannot sell the rice in the open market as the rice supplies to the government are coarse and less polished. They are also unable to sell the jute bags as they sport government specifications which are not applicable to the open market. The rice millers claim they are incurring a loss of about Rs 300 to Rs 500 (US 3 to 5$) per 0.04895 metric tonne. The state head is yet to give them an appointment for a meeting to discuss the crisis.
Tags: India, Karnataka, Rice millers, strike. PDS
China-developed High-Yielding Hybrid Rice Variety Produces Record Yield May 23, 2014
China's new hybrid rice variety, Longliangyou 1813 has produced a yield of about 14 tons per hectare, according to local sources. The new variety was developed by a private research & development center and promotion enterprise as part of the fourth phase of China's hybrid rice development program.The Chief Breeding Instructor of the research team stated that around one ton of paddy rice was lost as 0.0067 hectares of rice land was affected with disease, adding that without disease, the yield would have reached about 15 tons per hectare. He stated that advanced cultivation technology and nanotechnology-supported fertilizers also contributed to high yield by the new hybrid variety. The development team claims that the new hybrid rice variety is pest-resistant, highly productive and takes less time for growing. They added that the new variety will be tested in large-scale breeding bases across the
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country.The promoter of the company, Yuan Long Ping, also known as "Father of Hybrid Rice", said his team would develop a hybrid rice variety that could yield 16 tons per hectare in a span of next five years. However, rice experts say large-scale planting of new hybrid rice varieties faces huge challenges in China given its limited land and water resources. Also, most farmers may not readily adapt to newer varieties, they add. Tags: Hybrid rice, rice yields
World Bank Approves $8.2 Million Credit to Boost Guinea-Bissau Rice Production May 23, 2014
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The World Bank has approved a $8.2 billion credit from the International Development Association (IDA) to help Guinea-Bissau to boost rice production as well as develop other sectors of the economy, according to local sources. The West African nation, which was once an exporter of rice is now a net importer of rice and imports nearly half of its consumption needs. The IDA credit is expected to rebuild rice sector's potential, stimulate growth and help increase farmers' incomes. Boosting rice production is imperative to improve food security and reducing poverty, says World Bank Country Director for Guinea-Bissau. The World Bank primarily aims to increase rice yields with modernized farming techniques. It is also planning knowledge in rice production.
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USDA estimates Guinea-Bissau's milled rice production to remain at MY 2013-14 (October 2014 - September 2013) levels of estimated 120,000 tons rice in MY 2014-15. It estimates Guinea-Bissau to import 135,000 tons rice in MY 2014-15, up about 4% from an estimated 130,000 tons produced last year. The country's consumption needs in this year are estimated at 255,000 tons, up about 2% from about 250,000 tons consumed last year. Tags: World Bank, Guinea-Bissau rice production
Kenya to Boost Rice Production to Ensure Food Security May 23, 2014
Kenya's Agriculture Ministry is planning to increase rice production in the country to curb food shortage and increase food security, according to local sources. Sources from Agriculture Ministry say it is necessary to increase rice production in the country to meet growing consumption needs of rice. According to the USDA, rice consumption in Kenya has been increasing over the last decade. It is expected to more than double to 495,000 tons in MY 2014-15 (October 2014 - September 2015) from about 237,000 tons consumed in MY 2004-05. According to the Ministry of Agriculture, per capita consumption of rice in Kenya has been growing at 12% per annum compared to 4% of wheat and 1% of maize. According to the Chief of Ministry of Agriculture's Rice Production Unit (RPU), Kenya imports about 85% of the demand and spends hugely on rice imports. He noted that 413,000 tons rice was imported in 2013 and stressed the importance of increasing rice production locally to alleviate perennial food shortage in the country. The Chief Executive in charge of Agriculture urged farmers to understand new production and marketing dynamics so as to ensure uninterrupted supply of rice in the country. USDA estimates Kenya to produce 79,000 tons rice in MY 2014-15, up about 4% from an estimated 76,000
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tons produced in MY 2013-14. It estimates Kenya's imports at 420,000 tons in MY 2014-15, up about 2% from an estimated 410,000 tons imported in MY 2013-14. Tags: Kenya rice production, Food Security
East African Community to Review Rwanda, Uganda 75% Import Fees on Tanzania Rice May 23, 2014
The East African Community (EAC) is probing into Rwanda and Uganda's decision to continue to impose 75% import fees on Tanzania rice in 2014, which is in contravention of EAC Customs Union Protocol, according to local sources.According to EAC regulations, rice originating from Tanzania should not attract import duty in both Rwanda and Uganda. However, both the East African nations were exempted from adhering to zeropercent import duty on Tanzania rice in 2013 to protect their local markets.Tanzanian rice exporters are urging EAC Secretariat to resolve the issue at the earliest as local rice producers in Tanzania are oversupplied with bumper harvests and imports, and the local market is saturated. The prices also fell by more than half, they say. Producers are keen on exporting rice to Rwanda and Uganda, which are its traditional rice destinations. Tanzania's Agriculture, Food Security and Cooperatives Minister suspended imports in March 2013 to contain supplies in the market. But he again allowed imports this year as many producers were accused of hoarding rice stocks leading to surge in prices and inflation. The EAC Secretariat said it was negotiating over the issue with both Rwanda and Uganda. It however, did not specify the details of the status of negotiations.Both Rwanda and Uganda are net importers of rice. According to USDA, Rwanda is expected to produce 58,000 tons rice and import 40,000 tons rice in MY 2013-14 (May 2013 - April 2014); and Uganda is expected to produce 147,000 tons and import 120,000 tons rice in MY 2013-14. Tags: EAC, Rwanda, Uganda, Tanzania rice exports
IRRI Stresses for Rice Futures Exchange in Asia May 23, 2014
The Philippines-based International Rice Research Institute (IRRI) has stressed the need for establishing a rice index and futures exchange in Asia, in the Agricultural Transformation in East Asia session at the 23rd World Economic Forum (WEF) on East Asia in Manila, according to local sources.The IRRI Director-General (DG), who was a honorable speaker at the WEF, said a well-regulated rice futures market is needed to stabilize prices and increase farmers' incomes in Asia. He noted that a futures market would allow farmers to sell their produce
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when prices are favorable. But he said good storage and port facilities in the region can only support an effective functioning of a futures market and this calls for huge investments by all the countries. The IRRI proposed for Asia having a rice futures market in 2010, but was not well-received by most of the Asian countries as they feared speculation and obscene profits, said the IRRI DG. But speculation and market irregularities could be averted with proper market mechanisms, he adds.The Philippines National Economic and Development Authority (Neda) said a rice futures market would act as an "insurance" against risks and ensure a certain level of stability in rice prices. The Neda concurrent Secretary-General, who is also the Philippines Socioeconomic Planning Secretary, said a futures market in the region would benefit the farming community as well as other stakeholders in the Asian rice sector, whose size is estimated at $160 billion. He added that a futures market will help governments to plan ahead and implement long-term strategies for their respective rice sectors. Tags: IRRI, Rice futures
Australia Expects to Produce About 800,000 Tons of Rice in 2014; Harvest Underway May 23, 2014
Australia rice production is expected to reach at about 800,000 tons on this year, down about 11% from a target of 899,000 tons. In Australia, about 75% for rice harvest has been completed so far. Droughts kept the nation from reaching its target, however the President of the Rice Growers Association of Australia told to local reporters while this year was a challenging year for crops because of severe drought conditions in country, overall rice tonnage will be good due to exceptional yield. He added local rice prices are also firm, which is good for the local rice industry and rice producers.One farmer who farms 38 hectares of rice said his average paddy yield was about 11.5 tons per hectare.Australia is now approaching winter and farmers say they don’t welcome the autumn rain, as they try to get their summer rice crop harvested, but they know they need it for their winter crops. Tags: Australia rice production, australia paddy production, australia rice yields, australia paddy yields
Oryza Overnight Recap - Chicago Rough Rice Futures Turn Negative Overnight Despite Supportive Gains Chicago rough rice futures for Jul delivery were paused 2.5 cent per cwt (about $1 per ton) lower overnight at $15.295 per cwt (about $337 per ton) as of 8:00am Chicago time. The other grains are seen higher this morning ahead of floor
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trading in Chicago: soybeans are currently seen about 0.3% higher, wheat was paused about 0.5% higher, and corn is noted about 0.5% higher. U.S. stock index futures pointed to a higher open on Friday, extending this week's gains as investors gear up for a long holiday weekend.
Stocks rose modestly on Thursday, extending the prior day's rally sparked by dovish comments from the Federal Reserve which suggested rates could stay lower for longer. Asian shares hit one-year highs on Friday, but European markets struggled to stay in positive territory after a closely watched indicator of German business confidence came in weaker than expected. The news suggested the euro zone's biggest economy was on course for a slightly weaker quarter. Investors were also cautious ahead of en election in Ukraine this weekend which could rattle investors' nerves. Back in the U.S., April new home sales numbers are out at 10 a.m. U.S. stock index futures are currently trading about 0.1% higher, gold is currently trading about 0.1% lower, crude oil is seen trading about 0.4% higher, and the U.S. dollar is currently trading about 0.2% higher at 8:00am Chicago time.
India, Pakistan Rice Sellers Increased Some of Their Quotes Today; Other Asia Rice Quotes Unchanged India rice sellers increased their quotes for parboiled rice and 100% broken rice by about $5 per ton each to about $400 - $410 per ton and $310 - $320 per ton respectively today. Pakistan rice sellers increased their quotes for 5% broken rice by about $5 per ton to about $425 - $435 per ton. Other Asia rice sellers kept their quotes mostly unchanged today. 5% Broken Rice Thai 5% rice (of new crop) is quoted around $365 - $375 per ton, about $35 per ton discount to Viet 5% rice shown around $400 - $410 per ton. Indian 5% rice is quoted around $425 - $435 per ton, on par with Pak 5% rice quoted around $425 - $435 per ton, up about $5 per ton from yesterday. 25% Broken Rice Thai 25% rice of the old crop is quoted about $340 - $350 per ton, about a $20 per ton discount to Viet 25% rice shown around $360 - $370 per ton. Indian 25% rice is quoted around $385 - $395 per ton, on par with Pak 25% quoted around $385 - $395 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $405 - $415 per ton. Indian parboiled rice is quoted around $400 - $410 per ton, up about $5 per ton from yesterday and about $35 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 $35 per ton discount to Viet broken rice shown around $335 - $345 per ton. Indian broken sortexed rice is quoted around $310 - $320 per ton, up about $5 per ton from yesterday and about a $20 per ton discount to Pak broken sortexed rice quoted around $330 - $340 per ton.
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