18th April,2016 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

8/18/2019 18th April,2016 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

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1Daily Exclusive ORYZA

Rice E-Newsletter

April 18,2016

Vol 7,Issu


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2Global Rice Quotes

April 15th, 2016

Long grain white rice - high quality

Thailand 100% B grade 380-390 ↔

Vietnam 5% broken 365-375 ↔

India 5% broken 370-380 ↔

Pakistan 5% broken 345-355 ↔

Myanmar 5% broken 415-425↔

Cambodia 5% broken 445-455 ↔

U.S. 4% broken 430-440 ↔

Uruguay 5% broken 435-445 ↔

Argentina 5% broken 415-425 ↔

Long grain white rice - low quality

Thailand 25% broken 360-370↔


Pakistan 25% broken 310-320 ↔

Cambodia 25% broken 425-435 ↔

India 25% broken 325-335 ↔

U.S. 15% broken (sacked) 470-480 ↔

Long grain parboiled rice

Thailand parboiled 100% stxd 370-380 ↔

Pakistan parboiled 5% broken stxd NQ ↔

India parboiled 5% broken stxd 335-345 ↓

U.S. parboiled 4% broken 480-490 ↔


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3Brazil parboiled 5% broken 490-510 ↔Uruguay parboiled 5% broken NQ ↔

Long grain fragrant rice

Thailand Hommali 92% 670-680 ↔

Vietnam Jasmine 440-450 ↔

India basmati 2% broken NQ ↔

Pakistan basmati 2% broken NQ ↔

Cambodia Phka Mails 760-770 ↔

Brokens

Thailand A1 Super 330-340 ↔


Pakistan 100% broken stxd 285-295 ↔

Cambodia A1 Super 345-355 ↔

India 100% broken stxd 275-285 ↔

Egypt medium grain brokens NQ ↔

U.S. pet food 315-325 ↔

Brazil half grain NQ ↔

All prices USD per ton, FOB vessel, oryza.com

Above-Normal Monsoon May Boost Indian Rice Production in 2016, Says

IMD Official

Apr 15, 2016

An expected above-normal monsoon in 2016 is likely to boost rice production in the country, theEconomic Times quoted an official from the Indian Meteorological Department (IMD).


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4The Deputy Director General Meteorology, at the IMD, told reporters that the country is likely toget bumper production of rice, oilseeds and pulses, as well as set stage for excellent rabi production. "The overall framework is very positive now. We can see a bumper production ofrice this year," he said.

Another senior meteorologist noted that rains during the kharif (June - December) sowing timefollowed by rains that are spatially and temporally well distributed are good for Indianagriculture.

The Agriculture Secretary also told reporters that based on the IMD forecast, the government isexpecting a good monsoon this year after two years of an El Nino-induced drought conditions."Weather inclemency has led a drop in food products and food grains, and therefore our strategythis year is to ensure that we surpass the production figure of the previous year, he said.

Global weather agencies are also predicting the El Nino weather conditions are retreating and La Nina conditions are likely to develop in early summer of the Northern Hemisphere. La Nina

conditions normally bring above-normal rains to India, according to IMD officials.

India Rice Sellers Lower Some of Their Quotes; Other Asian Rice Quotes

Unchanged Today

Apr 15, 2016

India rice sellers lowered their quotes for parboiled rice by about $5 per ton to around $335-$345

per ton today. Vietnam and Pakistan rice sellers kept their quotes unchanged. Thailand ricesellers are out today due to a public holiday.

5% Broken Rice

Thailand 5% rice was last indicated at around $370 - $380 per ton, about $5 per ton premium onVietnam 5% rice shown at around $365 - $376 per ton. India 5% rice is indicated at around $370- $380 per ton, about $25 per ton premium on Pakistan 5% rice shown at around $345 - $355 perton.

25% Broken Rice

Thailand 25% rice was last indicated at around $360 - $370 per ton, about $10 per ton premiumon Vietnam 25% rice shown at around $350- $360 per ton. India 25% rice is indicated at around$325- $335 per ton, about $15 per ton premium on Pakistan 25% rice shown at around $310 -$320 per ton.

Parboiled Rice


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5Thailand parboiled rice was last indicated at around $370 - $380 per ton. India parboiled rice isindicated at around $335 - $345 per ton, about $70 per ton discount to Pakistan parboiled ricelast shown at around $405 - $415 per ton.

100% Broken Rice

Thailand broken rice, A1 Super was last indicated at around $330 - $340 per ton, about $10 perton discount to Vietnam 100% broken rice shown at around $340 - $350 per ton. India's 100% broken rice is shown at around $275 - $285 per ton, about $10 per ton discount to Pakistan broken sortexed rice shown at around $285 - $295 per ton.

Ecuador to Import 50,000 Tons of Rice through Informal Channels in MY

2016-17, Says USDA Post

Apr 15, 2016

The USDA Post expects Ecuador trader to import around 50,000 tons of rice from theneighboring country Peru informally in MY 2016-17 (April - March) as the government promotes rice self-sufficiency and allows for imports officially only in case of weather induced bad harvests. The depreciation of the Peruvian currency is one of the reasons encouragingarbitrage border trade, says the Post.


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6The Post says in rice imports in Ecuador require a cumbersome inter-agency approval process.Based on information from local sources, the Post reports that rice imports from outside theAndean Community (a customs union comprising the South American countries of Bolivia,Colombia, Ecuador, and Peru) are subject to a combined 68% import tariff plus an additional40% import surcharge/special safeguard. The government is understood to restrict imports to

address imbalances in the country's balance of payments. The Andean Price Band System(ABPS) currently sets a floor price of $536 per ton and a ceiling of $610 per ton respectively forexports and imports.

According to the Post, Ecuador exports rice to Colombia and Peru, occasionally depending onthe exchange rate value. However, Ecuador did not export any rice in MY 2015-16 reportedlydue to better domestic prices, says the Post. It expects the country not to export about 1,000 tonsof rice to neighboring countries in MY 2016-17 due to strong dollar. It expects official exports toColombia to be nil, though it expects Peruvian rice to be transhipped through Ecuador enroute toColombia.

The Post forecasts Ecuador’s milled rice production in MY 2016-17 at around 660,000 tons,down about 12% from an estimated 750,000 tons in MY 2015-16 due to a reduction in plantedarea. Farmers have reportedly delayed plantings as a precaution against the 2015-16 El Niño phenomenon. Lower prices also prompted a reduction in planting area, says the Post.

As the country is facing an economic slowdown, the Post expects domestic rice consumption todecline by about 5% y/y to around 735,000 tons in MY 2015-16.

USDA Forecasts 2016 Global Rice Trade to Decline 2% y/y to 41.7 Million

Tons

Apr 15, 2016

In its April 2016 Rice Outlook report, the USDA forecasts 2016 global rice trade at around 41.7million tons, down about 2% from an estimated 42.45 million tons in 2015, and almostunchanged from last month's forecast.

Weaker shipments from Australia, India, Cambodia, and the U.S. will not be fully offset by


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7increased shipments from Argentina, Pakistan, Thailand, and Uruguay, says the USDA. On theimport side, weaker purchases by Bangladesh, China, Cote d’Ivoire, the EU, Nigeria, and SriLanka are not expected to be fully offset by larger purchases by Brazil, Indonesia, and Iran,according to the USDA.

The USDA forecasts lower exports from Cambodia, India and China. It forecasts Pakistan's 2016rice exports to decline to around 4.4 million tons due to smaller supplies resulting from likelylower production. It expects India's 2016 rice exports to decline about 19% y/y to around 9million tons. The USDA lowered export forecasts for Egypt's 2016 rice exports to 250,000 tons based on a recent decision to ban exports starting this month.

On the 2016 import side, the USDA forecasts imports from Senegal and Turkey to decline about1% and 22% to around 985,000 tons and 200,000 tons respectively. It forecasts imports fromBrazil increase over twice to around 800,000 tons due to lower domestic supplies.

Vietnam Expects to Export 3 Million Tons of Rice in First Half of 2016, Up

12% from Previous Year

Apr 15, 2016

The government of Vietnam is expecting to export around 3 million tons of rice in the first halfof 2016 (excluding the unofficial exports), up about 12% from last year due to an increasingdemand from China and other South East Asian nations amid concerns of lower production,according to The Voice of Vietnam.

The Vietnam Food Association (VFA) is reportedly expecting to export around 1.6 million tonsof rice in the second quarter of 2016 (April - June), down about 200,000 tons from its targeted1.8 million tons. The decline is attributed to the impact of drought and saline intrusion on yields.However, the exporters are quickly implementing the already signed contracts, according to theVFA.

Vietnam exported 1.59 million tons of rice in the first three months of 2016, up 42% from lastyear. The VFA said the increase was mainly due to the government-to-government (G2G)contracts signed with Indonesia and the Philippines last year as well as new contracts signed withChina.

The VFA, however, expressed concern that export prices of Vietnam rice are comparativelyhigher than those of other Asian exporters like Thailand and India and therefore Vietnameseexporters are likely to lose edge in the next few months.

Export prices of Vietnam 5% rice are quoted at around $370 per ton compared to around $375 per ton of both Thai and India 5% rice.


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8Meanwhile, Vietnam's paddy rice output is likely to drop by about 0.5% to around 28 milliontons this year due to dry weather and the government plans to reduce paddy acreage.

ORYZA News have been published with permission of ORYZA.com with thanks

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18th April,2016 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

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