April 8, 2015
Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com
Volume 5, Issue I Daily Exclusive
ORYZA Rice Newsletter
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Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com
Asia Rice Quotes Mixed Today Apr 07, 2015
Vietnam rice sellers increased their quotes for Jasmine rice by about $10 per ton to around $470 - $480 per ton today. India rice sellers increased their quotes for 25% broken rice by about $5 per ton to around $345 - $355 per ton and lowered their quotes for parboiled rice by about $10 per ton to around $360 - $370 per ton. Pakistan rice sellers increased most of their quotes by about $5-$10 per ton. Thailand rice sellers kept their quotes mostly unchanged today. 5% Broken Rice Thailand 5% rice is indicated at around $385 - $395 per ton, about a $25 per ton premium on Vietnam 5% rice shown at around $360 - $370 per ton. India 5% rice is indicated at around $375 - $385 per ton, about a $15 per ton premium on Pakistan 5% rice shown at around $360 - $370 per ton, up about $10 per ton from yesterday. 25% Broken Rice Thailand 25% rice is shown at around $355 - $365 per ton, about a $15 per ton premium on Vietnam 25% rice shown at around $340- $350 per ton. India 25% rice is indicated at around $345 - $355, up about $5 per ton from yesterday and about a $10 per ton premium on Pakistan 25% rice shown at around $335 - $345 per ton, up about $10 per ton from yesterday. Parboiled Rice Thailand parboiled rice is indicated at around $385 - $395 per ton. India parboiled rice is indicated at around $360 - $370 per ton, down about $10 per ton from yesterday and about a $35 per ton discount to Pakistan parboiled rice shown at around $395 - $405 per ton, up about a $10 per ton from yesterday. 100% Broken Rice Thailand broken rice, A1 Super, is indicated at around $320 - $330 per ton, about a $10 per ton premium on Vietnam 100% broken rice shown at around $310 - $320 per ton. India's 100% broken rice is shown at around $275 - $285 per ton, about a $10 per ton discount to Pakistan broken sortexed rice shown at around $285 - $295 per ton, up about $5 per ton from yesterday.
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Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com
EU Milled Rice Exports Increase 45% y/y to 141,087 Tons, Milled Rice Imports Increase 9% y/y to 669,778 Tons in First Six Months of 2014-15 Apr 07, 2015
The EU has exported around 141,087 tons of milled rice in the first six months of 2014-15 (September - August), up about 45% from around 100,791 tons exported during the same period in 2013-14, according to data released by the European Commission (EC).Japonica rice exports increased by about 45% to around 120,906 tons in September 2014 - February 2015 from around 83,384 tons during the same period last year. Indica rice exports increased by about 15% to around 20,191 tons in the six-month period from around 17,557 tons last year.The EU has imported around 669,778 tons of milled rice in September 2014 - February 2015, up about 9% from around 614,926 tons imported during the same period last year. Average global rice prices have been increasing in euro terms but declining in dollar terms, according to the EC. While they increased by about 5% y/y during the six-month period in euro terms, they declined by about 10% y/y in dollar terms last year.The EU imported around 1.3 3
Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com million tons of rice in 2013-14, including one million tons of milled rice and 300,000 tons of broken rice. India accounted for 23.8% of EU rice imports in 2013-14, Cambodia accounted for 22.2%, Thailand accounted for 17.8% and Pakistan accounted for 15% of EU rice imports last year. While milled rice imports from the Least Developed Countries (LDCs) under the Everything But Arms (EBA) Agreement increased by 20% y/y, broken rice imports from the LDCs increased by 63% y/y according to the EC data.
Global Rice Quotes April 7th, 2015
Long grain white rice - high quality Thailand 100% B grade 395-405
↔
Vietnam 5% broken
360-370
↔
India 5% broken
375-385
↔
Pakistan 5% broken
360-370
↑
Myanmar 5% broken
410-420
↔
Cambodia 5% broken
435-445
↔
U.S. 4% broken
480-490
↔
Uruguay 5% broken
575-585
↔
Argentina 5% broken
565-575
↔
Long grain white rice - low quality Thailand 25% broken
355-365
↔
Vietnam 25% broken
340-350
↔
Pakistan 25% broken
335-345
↑
Cambodia 25% broken 410-420
↔
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Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com India 25% broken
345-355
↑
U.S. 15% broken
470-480
↔
Long grain parboiled rice Thailand parboiled 100% stxd
385-395
Pakistan parboiled 5% broken stxd
↔
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
↑
395-405
↔
Long grain fragrant rice Thailand Hommali 92% Vietnam Jasmine
890-900 470-480
↑
India basmati 2% broken
NQ
↔
Pakistan basmati 2% broken
NQ
↔
Cambodia Phka Mails 810-820
↔
↔
Brokens 320-330
↔
Vietnam 100% broken 310-320
↔
Thailand A1 Super
Pakistan 100% broken stxd Cambodia A1 Super
285-295
340-350
↑
↔
India 100% broken stxd
275-285
Egypt medium grain brokens
NQ
↔
↔
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Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com U.S. pet food
370-380
Brazil half grain
NQ
↔ ↔
All prices USD per ton, FOB vessel, oryza.com
Government of Cambodia Seeks to Double Rice Exports to China in 2015-16 Apr 07, 2015
The government of Cambodia is planning to double rice exports to China in 2015-16 (May April) to around 200,000 tons, local sources quoted the Ministry of Commerce spokesman as saying.The existing annual contract between Cambodia's state-owned Green Trade Company and China National Cereals, Oils and Foodstuffs Corporation (COFCO) will end shortly. Cambodia had signed a one-year agreement in August 2014 to export 100,000 tons of rice to China. Cambodia had shipped the agreed amount of rice to China ahead of the agreed time, according to local sources.
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Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com The Ministry of Commerce has reportedly written a letter to the Chinese Ministry of Commerce to renew the contract and double the rice export quota of Cambodia in 2015-16 to about 200,000 tons. Spokesman for the Cambodia Ministry of Commerce told local sources that the letter to China is part of Cambodia's efforts to diversify its rice export destinations and increase the volume of exports. He also noted that the Chinese authorities are fairly satisfied with the quality and hygiene of Cambodian rice exports.One of the leading rice exporters added that the renewed contract with China would be a step forward for Cambodia to achieve the one million ton rice export mark.Meanwhile, the Cambodia Rice Federation (CRF) has expressed interest to act as signatories during the next round of quota negotiations with China. Cambodia exported around 149,464 tons of rice in the first three months of 2015, up about 77% from around 84,331 tons exported during the same period in 2014, according to data from the Secretariat of One Window Service for Rice export Formality (SOWS-REF). China remained the largest buyer of Cambodian rice so far this year. Cambodia exported 387,061 tons of rice in 2014.
Oryza Afternoon Recap - Chicago Rough Rice Futures Continue to Tumble on Lack of Demand and Expectations of Large New Crop Supplies Apr 07, 2015
Chicago rough rice futures for May delivery settled 14.5 cents per cwt (about $3 per ton) lower at $10.680 per cwt (about $235 per ton). The other grains finished the day lower as well; Soybeans closed about 0.8% lower at $9.7100 per bushel; wheat finished about 0.3% lower at $5.2600 per bushel, and corn finished the day about 0.5% lower at $3.8300 per bushel.U.S. stocks traded higher on Tuesday as investors eyed oil price movements and renewed dollar strength ahead of the unofficial beginning of earnings season on Wednesday. The Job Openings and Labor Turnover Survey (JOLTS) showed 5.1 million job openings on the last business day of February, the highest since January 2001 but little changed from the prior month, the U.S.
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Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com Bureau of Labor Statistics reported on Tuesday. The number of quits and hires declined slightly but were similar to January figures. The monthly non-farm payrolls report for March significantly missed expectations on Friday, but traders mostly digested the data as partly seasonal and as another weak indicator that could delay an interest rate hike. The only other economic report due is consumer credit at 3:00 p.m. Stocks have remained in a range, with the S&P 500 roughly between 2,051 and 2,100. The Dow Jones Industrial Average traded up 94 points, or 0.53%, at 17,974. The S&P 500 traded up 7 points, or 0.33%, at 2,087, with healthcare leading eight sectors higher and utilities and telecommunications the only laggards. The Nasdaq traded up 24 points, or 0.48%, at 4,941. Gold is trading about 0.7% lower, crude oil is seen trading about 2.1% higher, and the U.S. dollar is seen trading about 1% higher at about 1:00pm Chicago time.Monday, there were 228 contracts traded, down from 560 contracts traded on Thursday. Open interest – the number of contracts outstanding – on Monday increased by 32 contracts to 9,511.
Oryza U.S. Rough Rice Recap - Prices Dip Slightly as Futures Fall; USDA Estimates Planting 14% Completed Apr 07, 2015
The U.S. cash market was slightly weaker falling with the futures market; however, trade activity was limited as sellers remain uninterested in the current bids they are seeing while most buyers are still on the sidelines.In the meantime, the USDA estimates that as of April 5, 14% of the US rice crop had been planted which unchanged from this time last year but 4% behind the previous 5-year average. As of now, the USDA estimates that farmers have planted at 6% of their rice crop in Arkansas, 0% in California, 63% in Louisiana, 9% in Mississippi, 0% in Missouri, and 21% in Texas. The USDA also estimates that 3% of the crop has emerged which was 3% greater than this time last year but 1% behind the previous 5-year average. As of now, the USDA estimates that 0% of the rice crop in Arkansas has emerged compared to , 0% in California, 17% in Louisiana, 0% in Mississippi, 0% in Missouri, and 0% in Texas.
Philippines Plans to Plant High-Yielding Rice Varieties in Over 560,000 Hectares in 2015 8
Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com Apr 07, 2015
The Philippines Department of Agriculture (DA) is planning to plant seeds of high-yielding rice varieties, including hybrid rice, certified inbred seeds and Green Super Rice (GSR), in over 560,000 hectares of rice area in 2015, according to news release on the government website.The High Yielding Technology Adoption (HYTA) program is part of the government's efforts to increase paddy rice production to achieve rice self-sufficiency in the country, according to the DA sources. The DA Undersecretary noted that the HYTA program would help the country achieve the targeted increase of one million tons of paddy in 2015 and an increase of another 500,000 tons in 2016.The HYTA program will be overseen by the DA-National Rice Program and will be implemented by the DA Regional Field Officers (RFOs). They will be responsible to distribute high-yielding seeds to farmers' groups along with fertilizers and soil ameliorants, said the DA Undersecretary. The program will be mainly focused in areas with good irrigation facilities, he added. The DA Undersecretary sought the support of concerned municipalities, provinces, cities, irrigators associations (IAs) and Small Water Impounding System Association (SWISAs) to make the HYTA program a success.USDA estimates Philippines MY 2014-15 (July - June) paddy rice production at around 19.365 million tons (around 12.2 million tons, basis milled), up about 3% from around 18.822 million tons (around 11.8 million tons, basis milled) produced in 9
Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com the previous year. It estimates Philippines 2014-15 milled rice imports at around 1.6 million tons, up about 10% from last year.
Sushi Meets Sandwich: Making Onigirazu Apr 07, 2015
It’s a true multi-cultural dish – the sushi roll meets the sandwich, and it’s called onigirazu. The dish is gaining in popularity in Japan because the varieties are endless – you can fill it with anything you’d normally put on a sandwich! The recipe is great for sushi lovers who are intimidated by the rolling process. The below recipe takes a twist on the American ham and cheese sandwich, but I encourage you to try other combinations, too.
What You Need: 5 tablespoons mayonnaise 1 tablespoon wasabi paste (more or less depending on spiciness preference!) 2 teaspoons cooking oil 5 eggs ¼ cup chopped fresh chives/scallions/green onions 5 sheets roasted seaweed 3 ½ cups cooked rice 5 slices cooked ham 5 slices cheese of choice What You Do: 1. In a bowl, mix the mayonnaise and wasabi. 2. In a different bowl, beat the eggs. 3. In an 8-inch skillet over medium heat, warm the oil. Add the eggs and spread them around the pan, sprinkling with chives/scallions/green onions. Cook until the eggs are set like an omelet, and then turn over and cook an additional minute. 4. Cut the cooked eggs into 5 wedges – 1 for each sandwich. 5. Lay 1 sheet of seaweed on a sheet of plastic wrap. Put 1/3 cup of warm rice in the center of the seaweed and lightly spread it into a 5-inch square or circle. 6. Spread ½ tablespoon of the mayonnaise mixture over the rice. 7. Set ½ slice of ham on the rice. 10
Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com 8. Take an omelet wedge and cut it into 2 pieces, then lay them on the ham. 9. Put a slice of cheese on top of the egg and top with the remaining ½ slice of ham. 10. Spread the remaining mayonnaise mixture on the ham and top with another 1/3 cup of rice. 11. Starting from the bottom corner of the seaweed, bring it up and over the layers and hold the roll together with your fingers (it doesn’t have to be wrapped as tightly as a sushi roll!). Take another corner of the seaweed and fold it in until all the layers are wrapped. 12. Continue to make 4 more sandwiches. 13. Wrap tightly in plastic wrap and slice in half for an on-the-go snack!
Oryza Overnight Recap – Chicago Rough Rice Futures Find Little Support as Grain Prices Remain Under Pressure Apr 07, 2015
Chicago rough rice futures for May delivery are currently seen 3.5 cents per cwt (about $1 per ton) lower at $10.790 per cwt (about $238 per ton) ahead of floor trading in Chicago. The other grains are seen trading lower overnight: soybeans are currently seen about 0.3% lower, wheat is listed about 1% lower and corn is currently noted about 0.1% lower.U.S. stocks index futures indicated a higher open on Tuesday as oil price volatility takes center stage again, ahead of minutes from the U.S. Federal Reserve and the start of the first-quarter earnings season. Oil surged more than 6% Monday, and helped boost the stock market as the S&P energy sector jumped 1.8%, but oil futures slumped on Tuesday from overnight gains after Goldman Sachs said prices needed to remain low for months to achieve a slowdown in U.S. output growth. On the data front, most attention will likely be on Wednesday's publication of the minutes from the Fed's most recent meeting last week, which will no doubt be closely watched for any further insights into the central bank's near-term policy outlook. European equities were higher on Tuesday with fears over an impending rate hike in the U.S. receding and investors cheering acquisition news in the courier delivery sector. U.S. stocks closed higher on Monday, rebounding from initial losses on the disappointing jobs report Friday as it gave investors renewed hopes of a delayed increase in rates. Gold is currently trading about 0.8% lower, crude oil is seen trading about 1.6% lower, and the U.S. dollar is currently trading about 0.9% higher at 8:00am Chicago time.
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Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com
USDA Post Estimates Indonesia to Import 1.25 Million Tons of Rice in MY 2014-15; Slightly Up from Last Year Apr 07, 2015
The USDA Post has estimates Indonesia to import around 1.25 million tons of rice in MY 201415 (January 2015 - December 2015), slightly up from an estimated 1.225 million tons in MY 2013-14. The Post expects Indonesia to import about 400,000 tons of medium grade rice and the about 850,000 tons of specialty rice. In Indonesia, only the state Logistics Agency Bulog is permitted to import medium-quality rice while private sector is allowed to import specialty rice (basmati, Thai Hom Mali, and japonica) as well as 100% broken rice, glutinous rice, and rice for diabetic purposes. The government imposes import restrictions on rice one month prior to, during, and two months after the main harvest period.The government wants Bulog to hold at least 2 million tons of rice stocks by the end of this year. However due to expected decline in production and consequently procurement, it authorized Bulog to import 500,000 tons of rice, including 300,000 tons of medium quality 25% broken rice and 200,000 tons of premium quality 5% broken rice. Bulog so far imported 12
Daily Exclusive ORYZA Rice E-Newsletter www.ricepluss.com 425,000 tons of rice this year. Bulog targets to procure 3.2 million tons of rice from local farmers. Based on the forecasts by the Indonesian National Statistics Agency (Badan Pusat Statistik, BPS), the Post estimates Indonesia's 2014-15 milled rice production at around 36.3 million tons (around 57.165 million tons, basis paddy), unchanged from last year and down about 0.5% from USDA's official estimates of about 36.5 million tons (around 57.48 million tons, basis paddy).Indonesia's new President is targeting to achieve self-sufficiency in rice, corn and soybean production by 2017 and is accordingly planning to build 47 water reservoirs as well as renovate the existing irrigation canals. The Ministry of Agriculture (MOA) is taking additional steps to ensure the success of rice self-sufficiency policies. The MOA has sought assistance of the Indonesian National Army to monitor the distribution of subsidized fertilizer, help farmers repair tertiary irrigation channels as well as to control pest and disease incidents. The Bulog initially aimed to procure 3.2 million tons of milled rice in MY 2014-15, up about 6.7% from around 3 million tons procurement target last year. However, due to slow procurement progress, Bulog revised this year's procurement target to about 2.5 million tons in March 2015. Usually, Bulog procures 60% of its procurement target during the first main harvest period. As of March 31, 2015, Bulog procured about 30,000 tons of rice, much lower than 320,000 tons procured during the same period last year.The government also increased the government purchasing price (Harga Pembelian Pemerintah, HPP) for paddy and rice in March. If the government fails to meet its procurement target, it may have to consider imports to maintain Bulog's stock at their prescribed levels.The Indonesian government has decided to allocate 2.795 million tons of rice for the Raskin. program to about 15,530,897 families about Rp.1,600 per kilogram (around $123 per ton) in MY 2014-15. The Post estimates 2014-15 Indonesian rice ending stocks at around 4.451 million tons, slightly higher than last year's estimate of around 4.101 tons.
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