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TOP Contents - Tailored for YOU Latest News Headlines…
Thailand PM Ousted by Constitutional Court; Political Situation, Rice Sector Uncertain Thailand PM Ousted by Constitutional Court; Political Situation, Rice Sector Uncertain Extensive Weeding Rice Pays Off Big-Time in Sub-Saharan Africa No Surprise, Egypt Rice Exports Bypass Licensing System Oryza Global Rice Quotes Oryza U.S. Rough Rice Recap - Stubbornly Quiet Market as Farmers Plant Remaining Crop Vietnam Loading 65,000 Tons of Rice Destined for Cuba, Africa Oryza Rice Currency Analysis for Today – Currencies Little Changed Colombia in Violation of Trade Promotion Agreement, Allege U.S. Rice Exporters Oryza Afternoon Recap - Chicago Rough Rice Futures Fail to Break Through Technical Resistance as May/July Spread Collapses Bangladesh Overcomes Climate Challenges with Early-Harvesting Rice Oryza Overnight Recap - Chicago Rough Rice Futures Untested Overnight Without a Single Trade; Grains Turn Lower India Rice Stocks in Central Pool Stand at 28.41 Million Tons on May 1, 2014; Down 18% from Last Year Thailand , Vietnam Rice Sellers Lower Some Quotes; Other Asia Rice Quotes Unchanged Old Crop Demand Limited as Buyers Eye Cheaper New Crop Prices Locals Worry Food Expo in Milan Neglects Italy's Own Rice Industry
News Detail… Thailand PM Ousted by Constitutional Court; Political Situation, Rice Sector Uncertain
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May 07, 2014
Thailand PM Yingluck and 9 cabinet members were ousted by the nation’s Constitutional Court after being found guilty of abuse of power. The court says she improperly transferred her national security chief in 2011, a reason that appears to be a small technicality which her opposition has used against her. Protestors have been trying to push her out since November 2013 and elections were disrupted on February 20, 2014 and then were scheduled to take place again July 20, 2014. The situation is far from over, according to experts, leaving continued uncertainty for the nation's rice stocks and exports. Tags: Thailand rice mortgage scheme, thailand politics
Thailand PM Ousted by Constitutional Court; Political Situation, Rice Sector Uncertain May 07, 2014
Thailand PM Yingluck and 9 cabinet members were ousted by the nation’s Constitutional Court after being found guilty of abuse of power. The court says she improperly transferred her national security chief in 2011, a reason that appears to be a small technicality which her opposition has used against her. Protestors have been trying to push her out since November 2013 and elections were disrupted on February 20, 2014 and then were scheduled to take place again July 20, 2014. The situation is far from over, according to experts, leaving continued uncertainty for the nation's rice stocks and exports. Tags: Thailand rice mortgage scheme, thailand politics
Extensive Weeding Rice Pays Off Big-Time in Sub-Saharan Africa May 07, 2014
Combatting weeds is a never-ending battle for some farmers. This is especially true in sub-Saharan Africa (SSA), where upland rice is consistently threatened by encroaching weeds. These weeds can prove a huge problem for farmers who see significant yield losses – occasionally leading to complete crop failure, and endangering the farmers’ food and financial security. These risks are exacerbated because weed management is very labor intensive for these farmers, and they often can’t invest the time to weed manually or the money to use more sophisticated systems.A study recently published in Food Security examined the relationships between weeding times per farm, average time per hectare per weeding, and rice yields of upland rice farmers in SSA in hopes of better understanding the impact of weeds on rice farmers’ income in SSA. The study analyzed data collected from 992 farmers in Cameroon, Democratic Republic of Congo, Togo, and Uganda.The researchers found that a farm weeded only once required 173 hours per hectare; weeding twice
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required 130 hours per hectare (or 259 hour per hectare total); and weeding three times required 125 hours per hectare (or 376 hours per hectare total). The increased labor paid off – fields weeded more often yielded larger crops. Weeding once produced an average rice yield of 1.2 tons per hectare; weeding twice produced an average yield of 1.7 tons per hectare, and weeding three times yielded 2.2 tons per hectare. Controlling for other factors, a farm only weeded once yields 0.33 tons per hectare less than a farm weeded twice and 0.51 tons per hectare less than a farm weeded three times. The estimated labor gains for weeding twice were 64.2 hours per hectare and the labor gains for weeding three times were 68.1 hours per hectare. These are not negligible gains for rice farmers in SSA. The study authors concluded that weeding upland rice crops more than once increased labor efficiency by 37% and rice yields by 27%.However, manual weeding is simply too labor- and time-intensive for upland rice farmers in SSA to implement. Instead, the authors conclude, there needs to be more research, development, testing, and promoting of locally adapted strategies for weed management in rice in SSA. For a region that is striving for self-sufficiency and food security, adaptive weed management strategies could give the area a much-needed boost. Tags: weeding, weeds
No Surprise, Egypt Rice Exports Bypass Licensing System May 07, 2014
The USDA Post in Cairo reports that smuggled Egyptian rice is reaching the Arabian Gulf and Africa illegally, bypassing the nation’s licensing program designed to limit rice exports in hopes of dampening high prices at home. Egyptian rice has a good reputation among the buyers in those countries and they are able to cover their needs through the increasing illegal rice trade, says the Post.Egypt had banned rice exports in 2011 in order to serve its food subsidy program, but had allowed rice exports through an export licensing system in September 2012. However, the Government of Egypt (GoE) has so far not exported any rice even under the export licensing system. The new Minister of Supply and Internal Trade (MoSIT) announced a possible lifting of rice export ban in March 2014 with a view to revive the economy. The GoE had also planned to buy imported rice to support its subsidy program. The GoE need around 1.3 million tons of rice yearly to serve its subsidy program. It’s been suggested that Egypt should just reconcile with reality, importing cheaper rice for the domestic market and export its own rice as it can fetch a higher price than imports from some cheaper origin markets, like Asia. However, Egypt produces medium grain and most Asian rice exported is long grain.The Post reports that lifting of rice export ban would encourage farmers to expand area for rice and increase production. Moreover, farmers tend to profit from exportation of rice as Egyptian rice fetched around $900 per ton in the international market, allowing them to retain profits after covering their production costs. Also the Post finds from the trade sources that exports serve as an incentive for good agricultural practices in the country.The U.S. and Russia are benefiting Egypt's export ban, according to the Post. Their rice exports to Turkey, a traditional destination for Egyptian rice, have increased significantly in recent years. Also Egypt's
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major traditional markets are dominated by other suppliers. However, the Post expects Egypt to regain its place as major exporter to Libya and Iraq once the ban is lifted. But, local traders fear that reversing the decision would lead to shortages of rice in the domestic market as well as price hikes, says the Post. The Post expects Egypt to adopt a balanced export policy that will open allow rice exports as well as prohibits illegal cultivation of rice beyond the restricted area prescribed by the Ministry of Agriculture and Land Reclamation (MALR) and the Ministry of Water Resources. In the short term, the Post expects Egypt to continue with the ban, despite a surplus of around 800,000 tons to control prices.The Post estimates Egypt's rice production to increase marginally to about 4.894 million tons in MY 2014-15 (October 2014 – September 2015) from an estimated 4.88 million tons in MY 2013-14 due to a slight increase in planting area to 795,000 hectares in MY 2014-15 from an estimated 790,000 hectares in MY 2013-14. It estimates Egypt's milled rice consumption at 4.1 million tons in MY 2014-15 from a estimated 4 million tons in MY 2013-14. Tags: Egypt rice exports, Smuggled rice, free trade, Turkey rice imports
Oryza Global Rice Quotes May 8th, 2014 Long grain white rice - high quality Thailand 100% B grade 385-395 Vietnam 5% broken 385-395 ↔ India 5% broken 415-425 ↔ Pakistan 5% broken 415-425 ↔ Cambodia 5% broken 435-445 ↔ U.S. 4% broken 580-590 ↔ Uruguay 5% broken 620-630 ↔ Argentina 5% broken 615-625 ↔ Long grain white rice - low quality Thailand 25% broken 340-350 ↔ Vietnam 25% broken 355-365 ↔ Pakistan 25% broken 370-380 ↔ Cambodia 25% broken 410-420 India 25% broken 370-380 ↔ U.S. 15% broken 555-565 ↔ Long grain parboiled rice Thailand parboiled 100% stxd
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Pakistan parboiled 5% broken stxd 435-445 India parboiled 5% broken stxd 395-405 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken NQ ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 935-945 Vietnam Jasmine 515-525 ↔ India basmati 2% broken NQ ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 870-880 ↔ Brokens Thailand A1 Super 300-310 ↔ Vietnam 100% broken 315-325 Pakistan 100% broken stxd 325-335 Cambodia A1 Super 350-360 ↔ India 100% Broken stxd 300-310 Egypt medium grain brokens NQ ↔ U.S. pet food 470-480 ↔ Brazil half grain NQ ↔ Medium grain milled U.S. Calrose 4% broken Egypt medium grain 6%
1070-1080 NQ ↔
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All prices USD per ton, FOB vessel, oryza.com
Oryza U.S. Rough Rice Recap - Stubbornly Quiet Market as Farmers Plant Remaining Crop May 07, 2014
The U.S. cash market remains stubbornly quiet with very little news to report as farmers attempt to plant their remaining crops. Meanwhile, there were 5 warehouse receipts canceled overnight leaving only 389 on the exchange (35,399 tons).As of today, old crop offers could still be found around $15.80 per cwt fob farm (about $348 per ton) for nearby shipment although most seller price ideas are considerably higher. As for bids, most larger mills were unchanged today to around $15.30 per cwt (about $337 per ton) for May
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delivery while bids for exporters could still be found near $15.50 per cwt (about $342 per ton), for the same delivery period, however both bids are not receiving much interest. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
Vietnam Loading 65,000 Tons of Rice Destined for Cuba, Africa May 07, 2014
Vietnam is loading rice destined for Cuba and Africa, according to Reuters. Starting on April 25, Vietnam was loading: 27,500 tons of 15% broken rice destined for Cuba 22,500 tons of 5% broken fragrant rice destined for Africa 10,000 tons of 5% broken fragrant rice destined for Africa Starting on May 15, Vietnam will be loading: 5,000 tons of 15% broken fragrant rice destined for Africa Tags: Vietnam rice exports, Cuba rice imports, Africa rice imports
Oryza Rice Currency Analysis for Today – Currencies Little Changed May 07, 2014
U.S. dollar index was up +0.15% from the open today, when it traded at 79.214 at the close. Euro was weaker -0.09% by the close, trading around 1.3915 by end of day, after trading between an intraday high of 1.3939 and low of 1.3912. Thai baht was weaker -0.07%, trading at 32.375 at the close of business. Indian rupee was weaker -0.06% at 60.1350. Brazilian real was stronger +0.48% at the close of trading today, trading at 2.2187 reais per dollar. Pakistan rupee was +0.26% stronger at 98.4500. Vietnamese dong was +0.09% stronger at 21093. Mexican peso was stronger +0.47% today, when it traded at 12.9666 pesos per dollar by the close of business. Chinese yuan was weaker -0.14%, trading at 6.2354.
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Argentine peso was weaker -0.01% at 8.0010 pesos per dollar. Tags: foreign exchange rates, rice trade, Global rice trade, rice currencies
Colombia in Violation of Trade Promotion Agreement, Allege U.S. Rice Exporters May 07, 2014
The ink has barely dried on the free trade agreement between the U.S. and Colombia, and a major dispute is already brewing between the rice industry in the U.S. and Colombia. Point of contention is an apparent subsidy of over $100 PMT (milled basis) to be paid by the Colombian authorities to the Colombian rice millers to cushion the Colombian rice industry against the rice imports from the U.S.Participants in the U.S. industry have told Oryza that on Apr 9, 2014, the government of Colombia published a decree about granting a subsidy of about $51 PMT to the Colombian rice millers – basis green rice. Participants in the Colombian rice industry told Oryza that the subsidy effectively amounts to over $100 PMT equivalent basis milled rice conversion. Colombians say the subsidy is much needed to fight the rice imports from the U.S. while the Americans say the subsidy defeats the spirit of the free trade agreement negotiated between the two countries for a myriad of products including rice. A rice producer in Louisiana told Oryza that the subsidy gives an unfair advantage to the Colombian rice millers who are upset about the entire free trade agreement and would like to make it as difficult as possible for the U.S. producers, millers and exporters who want to enter the Colombian market. Colombian rice millers claim they intend to use the subsidy to lower their cost of local Colombian paddy. Americans complain such a subsidy gives an edge to the Colombian rice millers and discriminates against the U.S. rice, in effect defeating the entire purpose of the free trade agreement. The agreement became effective in 2012 allowing entry of a certain tonnage of U.S. rice into Colombia at zero import duty, starting with 79,000 MT in 2012 and increasing annually until the year 2029 when it reaches 166,957 MT. Under the negotiated agreement, U.S. entities bid for certificates several times a year. Holders of these certificates are then granted right to ship U.S. rice to Colombia at zero duty. Colombia maintains an import duty of 80% for any rice imports outside the tonnage negotiated in the free trade agreement. Proceeds from the auction go evenly to fund rice research in Colombia and the U.S. Tags: free trade agreement, U.S. Rice exports, Colombia rice imports, trade barriers
Oryza Afternoon Recap - Chicago Rough Rice Futures Fail to Break Through Technical Resistance as May/July Spread Collapses May 07, 2014
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Chicago rough rice futures for Jul delivery settled 4 cents per cwt (about $1 per ton) higher at $15.555 per cwt (about $343 per ton). Rough rice futures were once again limited by nearby overhead resistance at $15.600 per cwt (about $344 per ton) and eventually finished the day slightly lower. Traders noted that the May/July spread collapsed today with May falling to a 14 cent per cwt (about $3 per ton) discount to the active July contract. This could be a signal that we could see a fresh round of deliveries overnight. The other grains finished lower, as wheat and corn failed to build on recent momentum and joined soy in a move to the downside; soybeans closed about 0.9% lower at $14.4625 per bushel; wheat finished about 0.2% lower at $7.3875 per bushel, and corn finished the day about 0.7% lower at $5.1400 per bushel.U.S. stocks pulled mostly higher on Wednesday, as Federal Reserve Chair Janet Yellen's testimony did nothing to rattle investors and after Russian President Vladimir Putin signaled a willingness to talk on Ukraine. The Nasdaq Composite, however, remained solidly in negative terrain, as investors continued to cycle out of socalled momentum stocks. The Nasdaq Composite remained under water as high-growth shares took it on the chin. In prepared congressional testimony, Federal Reserve Chair Janet Yellen said the labor market continues to improve, but remains at less-than-ideal levels. Stocks and bonds stumbled in the aftermath of Yellen's words, which were viewed as suggesting rate hikes could come sooner than previously expected. After falling 43 points, the Dow Jones Industrial Average climbed as much as 118 points, and was lately up 96.17 points, or 0.6%, at 16,497.19. Wobbling on either side of unchanged, the S&P 500 was recently up 5.10 points, or 0.3%, at 1,872.80, with technology the worst performing and utilities faring best among its 10 major industries. Off session lows that had the technology-laden index down nearly 60 points, the Nasdaq was down 37.12 points, or 1%, at 4,043.64. Gold is trading about 1.5% lower, crude oil is seen trading about 1.1% higher, and the U.S. dollar is seen trading about 0.1% higher at about 1:00pm Chicago time.Tuesday, there were 394 contracts traded, up from 298 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday increased by 44 contracts to 8,031. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
Bangladesh Overcomes Climate Challenges with Early-Harvesting Rice May 07, 2014
There is a saying, “grant me the serenity to accept the things I cannot change; the courage to change the things I can; and wisdom to know the difference.”Climate and weather are complex and out of our control (depending on who you ask), but how we respond to such challenges is not. Humans have been using technology to adapt to challenging environments since the dawn of mankind.The boro rice crop (January – May) has been subject to floods and hail storms during harvest in May. In response, early harvesting varieties, BRI-28 and BRI-45 developed by the Bangladesh Rice Research Institute (BRRI) and other organizations, have been tested, and this year planting proved successful.
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In development since 2005, the two varieties have been designed especially for low-lying regions, which are highly prone for early floods and hailstorms in May. Around 1,712 tons of seeds have been distributed in the district this season and these new rice varieties are said yield between 4.5 to 5.5 tons per hectare, according to the Bangladesh Agricultural Development Corporation (BADC) officials.According to the USDA, Bangladesh’s rice production is estimated at 35.6 million tons in MY 2013-14 (July 2013 – June 2014), up about 5% from an estimated 33.8 million tons in MY 2012-13. Due to rising consumption needs, the country is still expected to import about 300,000 tons of rice in 2014, up from about 213,000 tons in 2013. Tags:Bangladesh Rice Research Institute (BRRI), Bangladesh rice production, rice reseach, Rice seeds
Oryza Overnight Recap - Chicago Rough Rice Futures Untested Overnight Without a Single Trade; Grains Turn Lower May 07, 2014
Chicago rough rice futures for Jul delivery were untested overnight with not a single trade being logged in the hours since yesterday’s evening opening, and thus prices reflect bid/ask levels of $15.555 and $15.570 per cwt (about $343 per ton) as of 8:00am Chicago time. The other grains are seen lower this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.3% lower, wheat was paused about 0.8% lower, and corn is noted about 0.3% lower. U.S. stock index futures signaled a higher Wall Street open on Wednesday, after data had U.S. productivity falling more than expected in the first quarter and ahead of Federal Reserve Chair Janet Yellen's congressional testimony later in the day. Stock futures turned from mixed to higher after Bloomberg cited Interfax in reporting Russian President Vladimir Putin planned to discuss Ukraine on Thursday with regional leaders attending a meeting in Moscow. And, futures largely retained their gains after the government reported productivity falling 1.7% in the first quarter, versus estimates calling for a 1.1% drop. The Fed chair will speak at 10 a.m. ET. While she is expected to maintain her dovish stance, investors will be watching out for any hints as to the timing of future interest rate hikes. European and Asian shares fell on Wednesday, as Ukraine appeared closer to war. The body count is rising on both sides, despite international efforts to find a peaceful solution. Russia's Itar-Tass news agency reported that Ukrainian forces attacked a checkpoint in the eastern port of Mariupol on Tuesday, and continued to surround the pro-Russian stronghold of Slavyansk. U.S. stock index futures are currently trading about 0.2% higher, gold is currently trading about 0.4% lower, crude oil is seen trading about 0.5% higher, and the U.S. dollar is currently trading about 0.1% higher at 8:00am Chicago time. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
India Rice Stocks in Central Pool Stand at 28.41 Million Tons on May 1, 2014; Down 18% from Last Year Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874
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India’s rice stocks in the central pool as of May 1, 2014 were about 28.41 million tons (including a milled equivalent of around 12.302 million tons of paddy), down about 18% from about 34.73 million tons recorded during the same time last year, according to data from the Food Corporation of India (FCI).Month-over-month, India's rice stocks in the central pool are down by about 6% from about 30.25 million tons recorded on April 1, 2014. However, current rice stocks are double the required buffer and strategic reserve norms of around 14.2 million tons for this time of the year, according to the FCI. Total food grain stocks (including rice and wheat) in the central pool stand at around 64 million tons as of May 1, 2014, down about 17.5% from last year's stock and up about 30% from last month. Wheat stocks stand at about 34.4 million tons, down about 19.5% from last year and up about 92% from a month ago. Tags: India rice stocks, Food Corporation of India (FCI)
Thailand , Vietnam Rice Sellers Lower Some Quotes; Other Asia Rice Quotes Unchanged May 07, 2014
Thailand rice sellers lowered their quotes for parboiled rice by about $5 per ton to about $405 - $415 per ton today. Vietnam rice sellers lowered their quotes for 100% broken rice by about $20 per ton to about $315 $325 per ton. India and Pakistan rice sellers kept their quotes mostly unchanged. 5% Broken Rice Thai 5% rice (of new crop) is quoted around $370 - $380 per ton, about $15 per ton discount to Viet 5% rice shown around $385 - $395 per ton. Indian 5% rice is quoted around $415 - $425 per ton, on par with Pak 5% rice quoted around $415 - $425 per ton. 25% Broken Rice Thai 25% rice of the old crop is quoted about $340 - $350 per ton, about a $15 per ton discount to Viet 25% rice shown around $355 - $365 per ton. Indian 25% rice is quoted around $370 - $380 per ton, on par with Pak 25% quoted around $370 - $380 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $405 - $415 per ton, down about $5 per ton from yesterday. Indian parboiled rice is quoted around $395 - $405 per ton, about $40 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 $15 per ton discount to Viet broken rice shown around $315 - $325 per ton, down about $20 per ton from yesterday. Indian broken sortexed rice is quoted around $295 - $305 per ton, about a $20 per ton discount to Pak broken sortexed rice quoted around $315 - $325 per ton.
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Old Crop Demand Limited as Buyers Eye Cheaper New Crop Prices May 06, 2014
The U.S. cash market was lifeless today, especially for old crop rice, as those with rice left to sell continue to hold out for higher prices as stocks tighten. However, most analysts insist that demand will be limited until new crop is available as it is considerably cheaper than buying old crop.As of today, old crop offers could still be found around $15.80 per cwt fob farm (about $348 per ton) for nearby shipment however most farmers have not shown any interest in selling at those levels. Old crop bids from larger mills increased slightly today to around $15.30 per cwt (about $337 per ton) for May delivery while bids for exporters were unchanged near $15.50 per cwt (about $342 per ton), for the same delivery period, however both are not getting any traction.As for new crop, offers could be found as low as $13.66 per cwt fob farm (about $301 per ton) for September through October delivery while bids were seen closer to $13.25 per cwt fob farm (about $292 per ton) depending on the location of the rice and how quickly the seller could ship.
Locals Worry Food Expo in Milan Neglects Italy's Own Rice Industry With just a little less than a year before the grand opening of Expo 2015 in Milan, the much anticipated event is causing quite a buzz. Dating back to 1851 this universal exposition serves to showcase some of man’s greatest achievements over the course of time. Structured around a theme chosen by the host country, the focus of this year’s expo is “Feeding the Planet, Energy for Life”. A motif chosen to highlight the importance of food both culturally and globally and man’s underlying contribution to it. For the first time in the event’s history, pavilion communities will be organized in clusters unified by a common food rather than by geographical area. This kind of organization will cater to the theme’s effort to provide more education on nutrition. As one of the most significant foods in the international market, rice will also have a place in the expo next year; the countries included in its cluster will be: Sierra Leone, Bangladesh, Cambodia, Laos, and Myanmar. Cambodia and Myanmar both enjoy duty-free rice import status with the EU, making them competitors to Italy, the continent's largest rice producer. However, the exclusion of Italy from the rice cluster has warranted discussions within Italy’s agricultural sector. Holding the title for the largest producer of rice in the European Union (EU), the country fears that visitors of the expo will leave unaware of Milan’s contribution to Europe’s rice cultivating area due to its lack of placement in the event. Another objection stems from the inclusion of countries in the cluster that have increased their imports into the EU by enough to begin driving out business from local, Italian farmers. The validity of this objection stems from Italy being the host of the event. For more information regarding Expo 2015 in Milan visit www.expo2015.org Tags: food expo, local foods, italy rice production, italy rice exports, EU rice imports, asia rice exports
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