Published on March 4, 2014
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10000+ stakeholders of rice industry read & apply various ideas and analysis written by the authors. Be the part of Rice plus authors Visit: www.ricepluss.com,www.publishpk.net firstname.lastname@example.org,email@example.com TOP Contents - Tailored for YOU Latest News Headlines… o o o o o o o o o o o o Oryza U.S. Rough Rice Recap – Market Steady, Despite Drop In Futures; Iraq Issues New Tender Oryza Rice Currency Analysis for Today – Political Uncertainty in Ukraine Spurs Flight to Safety Cambodia Exports 48,573 Tons Rice So Far in This Year Vietnam to Export 2.5 Million Tons of Rice to Indonesia, Philippines Indonesia 2013 Paddy Rice Production Estimated at 71.29 Million Tons; Up 3% from Previous Year Iraq Tenders to Buy Minimum 30,000 Tons of Rice Government Increases Aman Rice Procurement Target by 33% to 400,000 Tons Thailand Rice Mortgage Program Ends; Government Still Battling to Raise Funds to Pay Farmers Egypt Reconsiders Rice Export Ban Vietnam Exports 637,756 Tons of Rice in January 1 – February 28, 2014; Down 14% from Last Year South Korea Plans to Liberalize Rice Imports in 2014 Oryza Global Rice Quotes Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
NEWS DETAILS: Oryza U.S. Rough Rice Recap – Market Steady, Despite Drop In Futures; Iraq Issues New Tender Mar 03, 2014 As of today, old crop offers were seen steady near $15.55-$16.11 fob farm (about $343-$355 per ton) depending on where they are located and how quickly they could ship. Meanwhile, there were 60 new receipt registrations late on Friday which brought the total amount of receipts on the exchange to 340 (30,940 tons).Bids from larger mills decreased today to around $14.90 per cwt (about $328 per ton) while bids for exporters could still be found around $15.55 per cwt (about $343 per ton), both for March delivery, although it was reported that smaller mills were paying as much as $16.25 per cwt (about $358 per ton) for prompt delivery.In the meantime, the Iraqi Grain Board issued another tender for at least 30,000 tons of rice of either U.S., Uruguayan, Argentine, or Brazilian origin. Bids need to be submitted no later than March 16th and must remain valid through March 20th. Tags: U.S. rice prices, U.S. rice market Oryza Rice Currency Analysis for Today – Political Uncertainty in Ukraine Spurs Flight to Safety Mar 03, 2014 U.S. dollar index was up +0.47% from the open today, when it traded at 80.067 at the close. Euro was weaker -0.50% by the close, trading around 1.3733 by end of day, after trading between an intraday high of 1.3793 and low of 1.3726. Thai baht was stronger +0.08%, trading at 32.535 at the close of business. Indian rupee was -0.46% weaker at 62.0425. Brazilian real was unchanged at 2.3443 reais per dollar. Pakistan rupee was -0.03% weaker at 104.9525. Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
Vietnamese dong was weaker -0.01% at 21103. Mexican peso was weaker -0.65% today, when it traded at 13.3356 pesos per dollar by the close of business today. Chinese yuan was weaker -0.01%, trading at 6.1457. Argentine peso was unchanged at 7.8715 pesos per dollar. Tags: foreign exchange rates Cambodia Exports 48,573 Tons Rice So Far in This Year Mar 03, 2014 Cambodia exported about 48,573 tons rice in first two months of calendar year 2014, down about 2.5% from about 49,815 tons rice exported during same time in last year, according to data from the Secretariat of One Window Service of Rice Export Formality (SOWSREF).Cambodia Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
rice exports in February 2014 reached at about 27,037 tons, up about 25.5% from previous month when Cambodia exported about 21,536 tons rice and up about 12% from about 24,089 tons rice exported in February 2013. In February 2014, Cambodia exported mainly Jasmine rice (about 14,374 tons) and long grain white rice (about 7,936 tons).Cambodia’s major rice export destinations so far this year include European nations, Malaysia, and China. Tags: Cambodia rice exports Vietnam to Export 2.5 Million Tons of Rice to Indonesia, Philippines Mar 03, 2014 Vietnam will export about 1.5 million tons of rice to the Philippines and another 1 million tons of rice to Indonesia this year, according to local sources.Vietnam’s Trade Minister says that at least 4 million tons of rice will be exported in government-to-government deals this year to help meet the 7 million tons rice export target in 2014. Vietnam also supplies 400,000 tons of rice annually to Cuba.Vietnam rice exports stood at around 6.88 million tons in 2013. However, Vietnam rice exports faces higher competition this year due to the end of the rice mortgage program in Thailand and the Thai government’s target to sell one million tons of rice per month in 2014. The Vietnam Food Association (VFA) said earlier this year that lower rice export prices, particularly in India and Thailand, may lead to reduced rice exports by Vietnam this year. Tags: Vietnam rice exports Indonesia 2013 Paddy Rice Production Estimated at 71.29 Million Tons; Up 3% from Previous Year Indonesia's paddy rice production increased to 71.29 million tons in 2013, up around 3% from around 69.05 million tons in 2012, mainly due to higher rice acreage and yields, according to the Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
statistics office in Jakarta.Rice acreage in Indonesia stood at around 13.84 million hectares in 2013, up about 3% from around 13.45 million tons in 2012. Average rice yield increased to around 5.152 tons per hectare in 2013, up about 1.6% from around 5.136 tons per hectare in 2012, the statistics office says.Higher production helped Indonesia reduce rice imports significantly last year. According to the USDA, rice imports by Indonesia declined to around 650,000 tons in 2013, down about 67% from around 1.96 million tons in the previous year. Tags: Indonesia rice production Iraq Tenders to Buy Minimum 30,000 Tons of Rice Mar 03, 2014 Iraq is seeking to purchase at least 30,000 tons of long-grain rice from the U.S., Uruguay, Argentina, or Brazil. The last date for submission of applications is March 16, 22014 and offers must remain valid until March 20, 2014, according to trade sources. Tags: Iraq rice tender Government Increases Aman Rice Procurement Target by 33% to 400,000 Tons Mar 03, 2014 The Bangladesh government has increased the Aman crop (May - December) rice procurement target between December 1, 2013 and February 28, 2014 by 33% to 400,000 tons to replenish government rice reserves, according to the Directorate General of Food.Originally the government had set a target of 200,000 tons, but had revised the procurement target to 300,000 tons in the third week of February 2014. The Directorate General says the government is procuring rice at Tk30,000 (around $380) per ton, up about 15% from last year's price of Tk26,000 (around $329) per ton. According to the Ministry of Food, the government has procured about 273,734 tons of rice as of February 27, 2014, while public rice stocks in Bangladesh stood at 776,200 tons as on February 20, 2014.The Directorate General of Food also says that Bangladesh will not import rice in 2014 despite low prices in the international market. Bangladesh Food Ministry data shows that most of the rice imports in the FY 2013-14 (July 2013 - June 2014) are by private traders, who have imported 295,730 tons of rice so far. Bangladesh imported around 18,100 tons during the same period in FY 2012-13, of which 80% was by the private sector. Bangladesh was the world's fourth largest importer of rice in the FY 2011-12, importing 1.48 million tons of rice in the year, according to the USDA. However, Bangladesh imported only 28,930 tons of rice in FY 2012-13.The Bangladesh government is targeting rice production to reach around 35 million tons in FY 2013-14, up about 3% from around 34 million tons produced last year. According to the USDA, Bangladesh’s rice production is estimated at around 34.59 million tons in MY 2013-14, against a consumption of around 34.6 million tons. Rice imports are estimated at around 220,000 tons in MY 2013-14. Tags: Bangladesh rice procurement Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
Thailand Rice Mortgage Program Ends; Government Still Battling to Raise Funds to Pay Farmers Mar 03, 2014 Thailand's controversial rice pledging scheme ended on February 28, 201, and cannot be extended until at least a new government is formed in the country, according to the Caretaker Commerce Minister.According to unofficial reports from the Internal Trade Department, more than 11 million tons of paddy rice was pledged under government's pledging program during October 1, 2013 to February 26, 2014. However, farmers are still waiting for payments. The Election Commission (EC) has approved the government to use 712 million baht (around $21.8 million) from the Central Budget to pay farmers. Around 3,900 farmers in five provinces are to be paid in full over the next week, according to the local sources. However, the EC has still not approved another 20 billion baht (around $613 million) from the Central Budget, which is required to clear all payments.Thailand farmers now have to sell their paddy at market prices. According to the Thai Rice Mills Association, the 100% white rice (with 15% humidity) is quoted at around 7,200-8,500 baht (around $221 - $260) per ton, almost half of the pledging price of 15,000 baht (around $460) per ton.Meanwhile, the Bank of Agriculture and Agricultural Cooperatives (BAAC) President clarified that forming a Rice Farmers' Fund is legal and does not violate the BAAC royal decree. However, the fund represents only 20% of 20 billion baht (around $613 million) that has to be paid by the government to the farmers.Separately, the Director General of the Department of Internal Trade is considering sale of 110,000 tons of rice worth 1.3 to 1.4 billion baht (around $39.8 - 42.8 million) through the Agricultural Futures Exchange of Thailand (AFET). The Department is also considering direct sale of 200,000 tons of government stock on March 12, 2014. Tags: Thailand rice mortgage program, Rice Farmers' Fund Egypt Reconsiders Rice Export Ban Mar 03, 2014 The Egyptian government may allow rice exports once again due to help revive the country’s economy, according to the newly appointed Supplies Minister.The Supplies Minister told local sources that the government may reverse its decision over the rice exports ban which was implemented by the previous Supplies minister in November 2013. The new Supplies Minister says that there are demands for resumption of exports to help Egyptian rice get access to new markets and to boost the country’s economy.The Egyptian government suspended rice exports in November 2013 despite having an exportable rice surplus of 800,000 tons a year to ensure supplies for its food subsidy program. According to the USDA, Egypt’s rice production in MY 2013-14 is estimated at around 4.85 million tons, against a consumption of around 4 million tons. Tags: Egypt rice exports Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
Vietnam Exports 637,756 Tons of Rice in January 1 – February 28, 2014; Down 14% from Last Year Mar 03, 2014 Vietnam exported about 637,756 tons of rice during January 1 – February 28, 2014, down about 14% from about 744,279 tons rice exported during the same time in last year, according to the Vietnam Food Association (VFA). Average export price in January 1 February 28, 2014 stands at about $430 per ton (FOB), which is down about 3% from about $444 per ton recorded in the corresponding period in 2013. In February 2014, Vietnam Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
exported about 330,501 tons of rice, up about 8% from about 307,255 tons of rice exported in January 2014, but down about 3% from February 2013, when Vietnam exported about 340,184 tons of rice. Average export price in February 2014 stood at about $445 per ton, up about 7% from a month ago and up about 3% from year ago levels.Vietnam's rice exports in February 2014 include: 163,711 tons of 25% broken rice (about 49.53% of total rice exports in February 2014); 75,922 tons of aromatic rice (about 22.97% of total rice exports in February 2014); 30,474 tons of 15% broken rice (about 9.22% of total rice exports in February 2014) and 29,281 tons 5%-10% broken rice (about 8.86% of total rice exports in February 2014). Asian countries were the major rice exporting destinations for Vietnam rice in February 2014, accounting for about 285,539 tons or almost 86.4% of total rice exports. Africa was the second largest destination, accounting for of about 26,250 tons of rice exports (equivalent to about 8% of total rice exports). Vietnam also exported 10,421 tons of rice to the Middle East, about 4,188 tons of rice to Europe, about 3,374 tons of rice to the Americas, and about 729 tons of rice to Australia in February 2014, the VFA says. Tags: Vietnam rice exports South Korea Plans to Liberalize Rice Imports in 2014 Mar 03, 2014 South Korea is likely to end its 20-year long rice import quota and liberalize rice imports in 2014, according to the country's Agriculture Minister.Currentl y, South Korea can import rice equivalent to 7.96% of country's total rice consumption. The World Trade organization (WTO) agreement on Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
current import quotas is scheduled to end this year and the South Korean government has to specify to the WTO whether it will open the rice market to foreign rice by September 2014.The WTO agreement dates back to 1993 when South Korea was allowed to import 4% of its annual rice consumption. The agreement was extended another 10 years in 2004 allowing the country to import 7.96% of annual rice consumption. However, the Agriculture Minister says that the WTO is unlikely to allow further delay in opening its rice market. oreover, delay in opening the rice market will not benefit South Korea. He says, "If we had switched to opening the rice market with import tariffs 10 years ago, we would not have had to take on an additional 200,000 tons in import quota. ”However, the Agriculture Minister says that if government decides to open the rice market, it would set the import duties between 300% - 500% of import prices. He says that the government prefers higher tariffs, but the decision over tariffs has to be ratified by the WTO. The Agriculture Minister says the final decision of the government on the rice import policy will be announced by June 2014.Rice consumption is declining in South Korea due to changing lifestyles, and the government is trying to reduce rice area to help maintain profits for rice farmers. According to the USDA, South Korea’s rice imports in MY 2013-14 are estimated at around 410,000 tons, down about 20% from 510,000 tons imported in MY 2012-13. Rice production in 2013-14 is expected to reach around 4.2 million tons of rice in MY 2013-14, up 6% from 4 million tons in MY 2012-13. The country's annual rice consumption is estimated at about 4.5 million tons in MY 2013-14, down about 2.5% from 4.6 million tons in MY 2012-13. Tags: South Korea rice imports, World Trade Organization (WTO) Oryza Global Rice Quotes March 3rd, 2014 Long grain white rice - high quality Thailand 100% B grade 440-450 Vietnam 5% broken 395-405 ↔ India 5% broken 415-425 ↔ Pakistan 5% broken 395-405 ↔ Cambodia 5% broken 450-460 ↔ U.S. 4% broken 575-585 ↔ Uruguay 5% broken 625-635 ↔ Argentina 5% broken 625-635 ↔ Long grain white rice - low quality Thailand 25% broken 350-360 ↔ Vietnam 25% broken 370-380 ↔ Pakistan 25% broken 350-360 ↔ Cambodia 25% broken 420-430 India 25% broken 360-370 ↔ ↔ ↔ Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
U.S. 15% broken 550-560 ↔ Long grain parboiled rice Thailand parboiled 100% stxd 460-470 Pakistan parboiled 5% broken stxd 405-415 India parboiled 5% broken stxd 400-410 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken 590-600 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 955-965 Vietnam Jasmine 515-525 ↔ India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 885-895 ↔ Brokens Thailand A1 Super 310-320 ↔ Vietnam 100% broken 355-365 Pakistan 100% broken stxd 320-320 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 345-355 ↔ ↔ ↔ ↔ ↔ ↔ ↔ ↔ ↔ Medium grain milled U.S. Calrose 4% broken 620-630 ↔ Egypt medium grain 6% NQ ↔ All prices USD per ton, FOB vessel, oryza.com Advertising SPECS & RATES Contact: Advertising Department Mujahid Ali email@example.com +92 321 369 2874 Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
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