Date post: | 06-Apr-2016 |
Category: |
Documents |
Upload: | daily-rice-news-letter |
View: | 214 times |
Download: | 0 times |
8 December ,2014
Daily Exclusive Oryza E-Newsletter by
Riceplus Magazine
Oryza Afternoon Recap - Chicago Rough Rice
Futures Slip Lower despite Rally in Neighboring Grain
Pits
Dec 05, 2014
Chicago rough rice futures for Jan delivery settled 5.5 cents per cwt (about $1 per ton) lower at
$12.065 per cwt (about $266 per ton). The other grains closed higher today; Soybeans closed about
2.5% higher at $10.3675 per bushel; wheat finished about 0.7% higher at $5.9400 per bushel, and
corn finished the day about 1.4% higher at $3.9500 per bushel.
U.S. stocks rose on Friday, lifting the S&P 500 and Dow industrials into uncharted terrain, as
investors embraced a stronger-than-forecast November payrolls report as backing the view the
economy can handle rate hikes by the Federal Reserve in 2015. U.S. employers created 321,000
jobs last month, the largest gain since January 2012, and topped the most cheery estimates. The
unemployment rate remained unchanged at a six-year low of 5.8%, and hourly earnings increased
0.4%.Another report Friday had orders for U.S. factory goods falling 0.7% in October. After a 91-
point advance lifted it to a record and less than 9 points from the psychological milestone of 18,000,
the Dow Jones Industrial Average was lately up 66.85 points, or 0.4%, at 17,966.95. Also climbing to
a record, the S&P 500 advanced 5.42 points, or 0.3%, to 2,077.34, with financials pacing sector
gains, as higher interest rates would boost bank earnings, and utilities performed most poorly among
its 10 major industry groups. The Nasdaq added 13.62 points, or 0.3%, to 4,783.05. Gold is trading
about 1.4% lower, crude oil is seen trading about 1.3% lower, and the U.S. dollar is seen trading
about 0.7% higher at about 1:00pm Chicago time.
Tags:
chicago rough rice futures, U.S. rice prices, U.S. rice market
India Basmati Rice Exports Decline 26% y/y to 1.4
Million Tons in First Six Months of FY 2014-15
Dec 05, 2014
India exported around 1.4 million tons of basmati rice in the first six months of FY 2014-15 (April -
March), down about 26% from around 1.9 million tons exported during the same period in FY 2013-
14, according to Commerce Ministry sources.
In value terms, India's basmati rice exports earned around Rs.13,848 crore (around $2.24 billion),
down about 2% from around Rs.14,111 crore (around $2.3 billion) earned during the same period
last year.
The decline in basmati rice exports is attributed to a significant decline in basmati rice shipments to
Iran, which accounts to over 30% of India's total basmati rice exports. India also exports basmati rice
to Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, European Union and the United States.
India's basmati rice exports to Iran dwindled after the Middle East country revised the accepted level
of arsenic content in basmati rice from 150 parts per billion (ppm) to 120 ppb in March this year.
Later, Iran's decision to increase the import duty for basmati rice to 45% from 22% in September has
further snubbed down India's basmati rice exports to Iran.
Recently, local sources in Iran said the Middle East Nation is likely to cut down on further imports in
2014 as it has surplus stocks that accrued from high imports last year as well as high seasonal yield
this year.
India exported around 420,000 tons of basmati rice to Iran in April - September 2014, down about
51% from around 850,000 tons exported during the same period last year.
India exported around 1.44 million tons to Iran in FY 2013-14 (April - March), up about 33% from
around 1.08 million tons exported in FY 2012-13, according to data from Agricultural and Processed
Food Products Export Development Authority (APEDA). India exported around 3.76 million tons of
basmati rice in FY 2013-14, up about 9% from around 3.46 million tons exported in FY 2012-13.
Indian basmati exporters have been trying to negotiate with the Iranian authorities over resuming
basmati exports to the Middle East nation. Meanwhile, a Commerce Ministry official told local
sources that India's basmati rice sector needs to explore new markets rather than depending on
fewer countries.
India exported a total of 10.78 million tons of rice (including basmati and non-basmati) in FY 2013-
14, up about 6% from about 10.15 million tons exported last year.
Tags: India basmati rice exports, India basmati rice exports to Iran
Vietnam Rice Sellers Increased Some of Their Quotes
Today; Other Asia Rice Quotes Unchanged
Dec 05, 2014
Vietnam rice sellers increased their quotes for Jasmine rice by about $10 per ton to around $525 -
$535 per ton today. Thailand rice sellers are out today on national holiday. Other Asia rice sellers
kept their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice was last quoted at around $405 - $415 per ton, about $20 per ton premium on
Vietnam 5% rice shown at around $385 - $395 per ton. India 5% rice is quoted at around $395 -
$405 per ton, about $15 per ton premium on Pakistan 5% rice quoted at around $380 - $390 per ton.
25% Broken Rice
Thailand 25% rice was last quoted at around $350 - $360 per ton, on par with Vietnam 25% rice
shown at around $350 - $360 per ton. India 25% rice is quoted at around $355 - $365, about $20 per
ton premium on Pakistan 25% rice quoted at around $335 - $345 per ton.
Parboiled Rice
Thailand parboiled rice was last quoted at around $405 - $415 per ton. India parboiled rice is quoted
at around $380 - $390 per ton, about $40 per ton discount to Pakistan parboiled rice quoted at
around $420 - $430 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, was last quoted at around $330 - $340 per ton, about $5 per ton
premium on Vietnam 100% broken rice shown at around $325 - $335 per ton. India's 100% broken
rice is shown at around $300 - $310 per ton, on par with Pakistan broken sortexed rice quoted at
around $300 - $310 per ton.
Tags: Vietnam rice prices, India rice prices, pakistan rice prices, Thailand rice prices
Oryza U.S. Rough Rice Recap - Prices Unchanged
ahead of USA Rice Outlook Conference
Dec 05, 2014
There is little news to report on the U.S. cash market other than the fact that prices remain
unchanged and buyers and sellers show little interest in trading at the current price level.
Next week, farmers, millers, and merchants will descend upon Little Rock, Arkansas for the USA
Rice Federations’ annual USA Rice Outlook Conference where participants will address the
multifaceted issues facing the U.S. rice industry.
Tags: U.S. rice prices, U.S. rice market
Oryza Overnight Recap - Chicago Rough Rice Futures
Unchanged Overnight as Market Continues to Drift
Sideways
Dec 05, 2014
Chicago rough rice futures for Jan delivery were paused 6.5 cents per cwt (about $1 per ton) lower
overnight at $12.050 per cwt (about $266 per ton) ahead of trading in Chicago. The other grains are
seen lower: soybeans are currently seen 0.1% lower, wheat is listed about 0.6% lower and corn is
noted about 0.3% lower.
U.S. stocks wavered near record highs on Friday, with equities fluctuating as investors debated the
implications of a stronger-than-expected November payrolls report on the timing of interest-rate
hikes ahead by the Federal Reserve. Stock-index futures reversed direction several times in the
wake of the data, and benchmark Treasury yields shoot higher, after the monthly jobs report had the
economy adding 321,000 jobs in November, exceeding expectations. The unemployment rate
remained unchanged at 5.8 percent, with nonfarm payrolls posting their tenth consecutive month
above a 200,000 reading. After shooting up 9 basis points, the yield on the 10-year Treasury note
was lately up 5 basis points at 2.2879 percent. The Dow Jones Industrial Average opened about
0.1% higher. The S&P 500 and the Nasdaq were both little changed. Gold is currently trading about
0.9% lower, crude oil is seen trading about 0.5% lower, and the U.S. dollar is currently trading about
0.5% higher at 8:10am Chicago time.
Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Oryza White Rice Index - Higher India Rice Quotes
Lift Index on the Week
Dec 05, 2014
The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes, ended
the week at about $438 per ton, up about $1 per ton from a week ago, down about $17 per ton from
a month ago and down about $25 per ton from a year ago.
The Food and Agriculture Organization’s (FAO) Global Rice Price Index declined 1.3% from October
to 232 points in November 2014. Most Indica and Aromatic sub-indices declined, but Japonica sub-
index increased.
Australia’s Bureau of Meteorology and New Zealand’s National Institute of Water & Atmospheric
Research have pointed to a possible El Nino weather pattern between December and February,
according to the Financial Times.
Thailand
Thailand 5% broken rice is today shown at about $410 per ton, unchanged from a week ago, down
about $5 per ton from a month ago, up about $15 per ton from a year ago.
A rice miller in the country has developed a method called the “Ozone Treatment” that can be used
to restore the freshness of rice that is decaying in quality, offering hope for the massive rice stocks
the country has, many of which are in poor quality.
Thailand's Commerce Ministry has arranged for a business matching project where nearly 40 rice
importers from 15 countries will meet with nearly 100 Thai rice exporters to discuss rice trade for the
next few years. The aim is to increase the value of Thai rice exports significantly next year.
Thailand’s National Legislative Assembly has initiated the impeachment case against former Prime
Minister Yingluck Shinawatra with the first hearing scheduled for January 9.
India
India 5% broken rice is today shown at about $400 per ton, up about $5 per ton from a week ago,
down about down about $15 per ton from a month ago and down about $20 per ton from a year
ago.
India’s basmati rice exports in the first six months of FY 2014-15 (April-March) were down about
26% from last year, reaching only 1.4 million tons, according to Commerce Ministry sources. In
terms of value, basmati rice exports were down about 2% from last year.
The restructuring of the Food Corporation of India may be delayed, as the High Level Committee
set up by the government to investigate it has asked for two more months to complete their task,
according to Bloomberg.
Climate change may reduce India’s rice yields by as much as 6% over the next six years, according
to local sources.
Vietnam
Vietnam 5% broken rice is today shown at about $390 per ton, unchanged from a week ago and
down about $45 per ton from a month and a year ago.
Pakistan
Pakistan 5% broken rice is today shown at about $385 per ton, unchanged from a week ago, down
about $15 per ton from a month ago and up about $5 per ton from a year ago.
The Rice Exporters Association of Pakistan (REAP) is seeking government support to boost exports
to existing markets like China, Malaysia, Indonesia, Kenya, Iran, and Iraq, and to explore new
markets.
Central & South America
Brazil 5% broken rice is today shown at about $550 per ton, unchanged from a week and a month
ago, down about $135 per ton from a year ago.
Five percent broken rice from Uruguay and Argentina is today shown at about $600 per ton,
unchanged from a week and a month ago and down about $30 per ton from a year ago.
U.S.
U.S. 4% broken rice is today shown at about $545 per ton, unchanged from a week and a month
ago and down about $45 per ton from a year ago.
There was very limited trading in the U.S. cash market this week with the spread between the bid
and the ask around $0.25-$0.50 per cwt (about $6-$11 per ton).
Chicago rough rice futures for January delivery dropped steadily throughout the week, reaching a
high of $12.415 per cwt (about $274 per ton) on Monday before dropping to a low of $12.000 per cwt
(about $265 per ton) on Friday and closing at $12.055 per cwt (about $266 per ton).
Other Markets
Cambodia 5% broken rice is today shown at about $465 per ton, up about $5 per ton from a week
ago, and down about $5 per ton from a month ago.
The USDA Post estimates China will import 3.7 million tons of rice in MY 2014-15, down 3% from
last year, due to anticipated increases in production.
South Korea’s state-run Agro-Fisheries & Food Trade Corporation has purchased 90 tons of long-
grain milled non-glutinous rice of Thai origin at $1,045 per ton in a tender that closed November 25.
The FAO has forecasted Haiti’s 2014-15 (July-June) rice imports to increase by about 8%, due to an
expected decline in production.
The USDA Post estimates that Indonesia will import 1.225 million tons of rice in MY 2013-14, an
increase of about 88% from MY 2012-13.
Bangladesh has signed a government-to-government deal with Sri Lanka to export 50,000 tons of
rice, according to Reuters.
Taiwan has finally lifted the eight-year ban on U.S. long grain rice imports and has scheduled a
tender for importing about 3,000 tons of U.S. long grain brown rice for December 10, according to
the USDA Post.
The National Food Authority in the Philippines plans to import 600,000 tons of rice in efforts to
replenish 2015 stocks, according to local media.
Tags: oryza white rice index (OWRI), Rice Prices, rice news
Pakistan Rice Exporters Seek Government Support to
Boost Exports
Dec 05, 2014
The Rice Exporters Association of Pakistan (REAP) is seeking government support in increasing
exports to existing markets such as China, Malaysia, Indonesia, Kenya, Iran and Iraq as well as in
exploring new markets, according to local sources.
The REAP Chairman met the Chief Minister (CM) and the Agriculture Minister of Sindh province
along with a 13-member delegation and apprised them of the problems faced by the rice exporters
due to power shortages and lack of adequate infrastructure. He noted that farmers should be trained
and encouraged to understand the international standards demanded by foreign buyers and adopt
modern production techniques to produce quality rice. He added that this would enable the country
to earn more from the rice exports as well as enhance the standard of living of rice farmers.
The Sindh government agreed to jointly work with the REAP to promote rice cultivation, increase
capacity building of rice growers and thereby boost rice exports. They will focus on educate farmers
through seminars and workshops, encourage them to increase their production capacity, introduce
newer rice varieties, encourage use of new farm technologies and reduce postharvest losses. They
will lay more stress on encouraging farmers to grow export competitive rice varieties, according to
local sources.
The Sindh government also promised the REAP delegation to support them in finding new markets
for Pakistan rice exports, especially exports of varieties grown in Sindh, which is one of the important
rice growing regions of Pakistan. The provincial government reportedly told the REAP delegation
that it would take up the matter with the Central government as well.
Pakistan has exported around 892,633 tons of rice (192,683 tons of basmati and 699,950 tons of
non-basmati) in the first four months of FY 2014-15 (July 2014 - June 2015), up about 1% from
around 882,161 tons (189,353 tons of basmati and 692,808 tons of non-basmati) exported during
the same period in FY 2013-14.
Tags: Pakistan rice exports, Rice Exporters Association of Pakistan (REAP)
Philippines Plans to Import 600,000 Tons of Rice to
Cover Damages from Typhoon Hagupit
Dec 07, 2014
The National Food Authority (NFA) of the Philippines is planning to import another 600,000 tons of
rice this year, to cover damages caused by Typhoon Hagupit (Ruby), according to Reuters.Initial rice
crop losses from the Typhoon are estimated at around 20,000 tons, worth around P312.87 million
(around $7 milion). The imports are to maintain buffer stocks after the NFA was forced to release
stocks on an emergency basis to boost stocks in areas expected to be hit by the Typhoon. The
agency is likely to release more stocks in the coming week, according to local sources.
With this, the Philippines 2014 rice imports will be at around 2.4 million tons. The NFA imported
around 1.8 million tons of rice (including 1.5 million tons of this year's imports and 300,000 tons of
last year's residual imports) so far this year to replenish rice stocks and control price hikes. The NFA
is still authorized to import another 500,000 tons of rice this year, if need arises.
The NFA Administrator was quoted as saying that the NFA is seeking to increase volume of imports
under the standing order by another 100,000 tons and the recommendation will be discussed at the
NFA Council shortly.However, he noted that it was too early to release a timetable for the new
imports. He also denied to confirm whether the imports would be through government-to-government
contracts or through open tenders.
Last week, the NFA Council and the Agriculture Secretary were reportedly planning to recommend
to the President the need to import around 600,000 tons of rice to replenish stocks and ensure
adequate supply during the lean months (June - August) of 2015 after the Philippine Statistics
Authority (PSA) lowered forecasts for paddy rice in the first quarter of 2105 by about 0.6% q/q to
around 4.28 million tons. According to local sources, NFA was planning to issue tenders for the 2015
rice imports in December 2014 or January 2015.
Analysts are expecting that impending huge demand from the Philippines may exert downward
pressure on global rice prices. Rice export prices in Asia have already gone down significantly in the
past two months due to increasing supplies from harvest season.
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 an estimated 18.822 million
tons (around 11.8 million tons, basis milled) in the previous year. It estimates Philippines 2014-15
milled rice imports at around 1.6 million tons, up about 10% from last year's 1.45 million tons.
Tags: Philippines rice imports, Typhoon Hagupit, National Food Authority (NFA)
USDA Post Estimates China to Import 3.7 Million
Tons of Rice in MY 2014-15; Down 3% from Last
Year
Dec 05, 2014
USDA Post has estimated MY 2014-15 (July - June) rice imports at around 3.7 million tons, down
about 3% from an estimated 3.8 million tons in MY 2013-14 due to an expected increase in
production.
The Post estimates China to produce 144 million tons of rice in MY 2014-15, up about 1% from an
estimated 142.53 million tons in the previous year due to an estimated increase in paddy rice
acreage.
Paddy rice acreage in MY 2014-15 is estimated to reach 30.6 million hectares, up about 1% from an
estimated 30.312 million hectares in MY 2013-14, according to the Post.
The Post estimates China's MY 2014-15 rice exports to increase to around 350,000 tons, up about
36% from an estimated 257,000 tons in the previous year.
USDA Post estimates rice ending stocks to decline to around 46 million tons in MY 2014-15, down
about 1.4% from an estimated 46.7 million tons last year due to an estimated increase in
consumption by about 1% to around 148 million tons.
Tags: China rice imports, China rice exports, China rice production
Swiss Scientists Find Rice a Better Alternative to
Cholera Treatment
Dec 05, 2014
Scientists from the Swiss Federal Institute of Technology or Ecole Polytechnique Fédérale de
Lausanne (EPFL) have found that rice is more effective in reducing the toxicity of cholera bacterium
Vibrio cholerae.
Since cholera infects small intestine, it often leads to severe diarrhoea and vomiting resulting in
dehydration and death. Therefore the normal treatment consists of oral rehydration therapy in which
the patient is given water mixed with salts and glucose in regular intervals. Though this treatment is
proved to be effective, too much intake of glucose is likely to increase the toxicity of the cholera
bacterium by increasing the expression of its genes and thereby intensifying the disease further.The
EPFL scientists have found that replacing glucose with starch as in rice powder would reduce the
toxicity of the cholera bacterium by about 75%.According to the study published in PLOS Neglected
Tropical Diseases, EPFL scientists correlated data from a recent cholera outbreak in Haiti with the
effectiveness of oral rehydration therapy. They found that the activity of genes as well as the
multiplication of the cholera toxin increased when the bacterium was treated with glucose, and they
reduced considerably when treated with starch from rice. They explained that the type of sugar
present in glucose/starch is influencing the mechanism of toxin-producing genes in the cholera
bacterium.
However, the scientists are not recommending immediate withdrawal of the oral rehydration therapy
given its success rate. They say the effectiveness of treatment could be discussed and be
considered gradually.
Tags: Cholera treatment, Rice, Ecole Polytechnique Fédérale de Lausanne (EPFL)