Published on March 7, 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… Thailand, Vietnam Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Oryza U.S. Rough Rice Recap – Market Little Changed as Long Grain Exports Decline IGC Projects Higher Production Thanks to India, but Estimates World Rice Stocks Will Decline for the First Time in 9 Years Oryza Rice Currency Analysis for Today – Euro, India Rupee Rally About 1% Oryza Afternoon Recap - Chicago Rough Rice Futures Bounce off of Nearby Support but Settle off of Session High; Wheat Left out of Grain Recovery FAO Estimates 2014 Global Rice Trade at 38.3 Million Tons; Up 3% from Last Year Nigeria Importers Urge Government to Lower Rice Import Duty to $190 Per Ton PhilRice Introduces 'Nutrient Manager' Software to Help Farmers Reduce Fertilizer Cost Thailand BAAC Urges Government to Pay Subsidies to Farmers for Not Growing Second Rice Crop South Korea Buys 57,222 Tons of Rice from Asia 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: Thailand, Vietnam Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Mar 06, 2014 Thailand rice sellers lowered their quotes for parboiled rice by about $5 per ton to about $440 - $450 per ton today. Vietnam rice sellers lowered their quotes for Jasmine rice by about $10 per ton to about $495 - $505 per ton. India and Pakistan rice sellers kept their quotes mostly unchanged today. 5% Broken Rice Thai 5% rice (of new crop) is quoted around $415 - $425 per ton, about a $30 per ton premium over Viet 5% rice shown around $385 - $395 per ton. Indian 5% rice is quoted around $415 - $425 per ton, about a $20 per ton premium over Pak 5% rice quoted around $395 - $405 per ton. 25% Broken Rice Thai 25% rice of the old crop is quoted about $350 - $360 per ton, about a $5 per ton discount to Viet 25% rice shown around $355 - $355 per ton. Indian 25% rice is quoted about $360 - $370 per ton, about a $10 per ton premium over Pak 25% rice quoted around $350 - $360 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $440 - $450 per ton, down about $5 per ton from yesterday. Indian parboiled rice is quoted around $400 - $410 per ton, about $5 per ton discount to Pak parboiled rice quoted around $405 - $415 per ton. 100% Broken Rice Thai broken rice, A1 Super, of the old crop is quoted around $310 - $320 per ton, about a $35 per ton discount to Viet broken rice shown around $345 - $355 per ton. Indian broken sortexed rice is quoted about $300 - $310 per ton, about a $20 per ton discount to Pak broken sortexed rice quoted around $320 - $330 per ton. Tags: Asia rice quotes, Thailand rice quotes, India rice quotes, Pakistan rice quotes, Vietnam rice quotes Oryza U.S. Rough Rice Recap – Market Little Changed as Long Grain Exports Decline Mar 06, 2014 As of today, old crop offers could still be found around $15.55-$16.11 fob farm (about $343-$355 per ton) depending on where they are located and how quickly they could ship however many are holding out for even prices. Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
Bids from larger mills increased slightly today to around $14.80 per cwt (about $326 per ton) while bids for exporters were unchanged near $15.55 per cwt (about $343 per ton), both for March delivery, although there were reports of rice trading as low as $15.75 per cwt (about $347 per ton) delivered barge facility and as high as $16.20 per cwt (about $357 per ton) delivered mill. In the meantime, today the USDA reported that cumulative net export sales for the week ending on February 27, totaled 66,600 tons, which was 29% lower than last week and 28% lower than the prior 4-week average. Increases were reported for the following destinations including: 38,200 tons to Japan, 18,600 tons to Panama (including 17,200 tons switched from unknown destinations), 12,600 tons to Turkey, 7,900 tons to El Salvador (including 8,200 tons switched from unknown destinations and decreases of 300 tons), and 4,700 tons to Mexico. There were also decreases of 25,400 tons reported for unknown destinations and 1,500 tons for Switzerland. U.S. rice exporters shipped 70,100 tons, which was 8% lower than the previous week but 21% higher than the prior 4-week average. The primary destinations included: 24,000 tons to Mexico, 18,600 tons to Panama, 8,700 tons to Turkey, 8,200 tons to El Salvador, and 2,300 tons to Saudi Arabia. Tags: U.S. rice prices, U.S. rice market IGC Projects Higher Production Thanks to India, but Estimates World Rice Stocks Will Decline for the First Time in 9 Years Mar 06, 2014 A new report released by the International Grains Council (IGC) predicts that global rice production will reach an all-time high in 2013-14, reaching as much as 473 million tons, basis milled. Last year’s production was about 470 million tons, and this 1% increase is mostly due to increased output in Asia. Correspondingly, global rice use is also set to increase about 1% from last year.This production projection is 3 million tons higher than IGC’s forecast a month earlier, after weather in India did not negatively affect the kharif (summer) harvest there as much as anticipated. The projected production increase comes despite expected minor declines in China’s production since last month. Production in South America is also expected to rise to a three-year high of 16.4 million tons, about 4% higher than the previous year. Brazil is largely driving this increase due to improved productivity, despite lower acreage plantings.Increased exports to Far East Asia lead IGC to forecast a 3% increase in world trade in 2014.The IGC also projects world stocks in 2013-14 will decline – only slightly, but it’s the first decline in 9 years, and market participants will wonder if this might be a turning point. Tags: International Grains Council (IGC), world rice stocks, world rice projections 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
Oryza Rice Currency Analysis for Today – Euro, India Rupee Rally About 1% Mar 06, 2014 U.S. dollar index was down -0.54% from the open today, when it traded at 79.681 at the close. Euro was stronger +0.90% by the close, trading around 1.3857 by end of day, after trading between an intraday high of 1.3873 and low of 1.3721. Thai baht was stronger +0.17%, trading at 32.240 at the close of business. Indian rupee was +1.05% stronger at 61.1150. Brazilian real was -0.08% weaker at the close of trading today, trading at 2.3205 reais per dollar. Pakistan rupee was +0.02% stronger at 104.2850. Vietnamese dong was unchanged at 21100. Mexican peso was stronger +0.62% today, when it traded at 13.1574 pesos per dollar by the close of business today. Chinese yuan was stronger +0.16%, trading at 6.1187. Argentine peso was stronger +0.13% at 7.8714 pesos per dollar. Tags: foreign exchange rates Oryza Afternoon Recap - Chicago Rough Rice Futures Bounce off of Nearby Support but Settle off of Session High; Wheat Left out of Grain Recovery Mar 06, 2014 Chicago rough rice futures for May delivery settled 4.5 cents per cwt (about $1 per ton) higher at $15.285 per cwt (about $337 per ton). Rough rice futures closed slightly higher as the market bounced off of nearby support around $15.180 per cwt (about $335 per ton) provided by the lower Bollinger band yesterday. Today's move has once again confirmed this point as a level of support and provides a positive outlook for tomorrow's trade direction.Although today's action is seen as a positive development some traders point to the inability of the bulls to maintain prices near the session high as a concerning factor. Outside markets provided a supportive backdrop as the other grains were mostly higher today; soybeans closed about 1.2% higher at $14.3800 per Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
bushel; wheat finished about 0.5% lower at $6.4600 per bushel; and corn finished the day about 1.9% higher at $4.9100 per bushel. U.S. stocks mostly rose on Thursday as investors' monitored economic data ahead of Friday's monthly jobs report, along with developments in Ukraine and Europe. Stocks retained the bulk of their gains as President Obama held a nationally televised news conference to deliver a statement on Ukraine, saying a proposed Crimea referendum violates international law, and calling on Congress to support the International Monetary Fund's capacity to lend to the nation. In the U.S., weekly applications for jobless benefits declined to 323,000, the lowest in three months, while new orders for American factory goods fell in January. About 15 points off its session high, the Dow Jones Industrial Average gained 76.13 points, or 0.5%, to 16,436.31. Climbing to an intraday record 1,881.96, The S&P 500 was lately at 1,880.17, up 6.36 points, or 0.3%, with financials the best performing and utilities the laggard among its 10 major industry groups. Erasing gains, the Nasdaq fell 1.4 point to 4,356.56. Gold is trading about 0.7% higher, crude oil is seen trading about 0.8% lower, and the U.S. dollar is seen trading about 0.6% lower at about 1:00pm Chicago time.Wednesday, there were 628 contracts traded, up from 361 contracts traded on Tuesday. Open interest - the number of contracts outstanding on Wednesday increased by 105 contracts to 7,508. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market FAO Estimates 2014 Global Rice Trade at 38.3 Million Tons; Up 3% from Last Year Mar 06, 2014 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
The UN’s Food and Agricultural Organization (FAO) says that global rice trade is estimated to reach around 38.3 million tons in 2014, up about 100,000 tons or around 3% from around 37.3 million tons in 2013.FAO says that Thailand rice exports are expected to increase due to government plans to release rice stocks from its warehouses for sale in domestic and international markets. Rice exports by Pakistan, the U.S, and Vietnam are also expected to increase this year, while India is forecast to remain the top rice exporter this year.Rice imports by Asian countries such as China, Indonesia, Nepal and the Philippines are expected to increase this year due to lower international prices and tight domestic supplies. FAO says that rice imports by African countries and the EU will likely increase in 2014. According to the FAO, global milled rice production in 2013 is estimated to increase by around 0.6% to 493.9 million tons from 491.1 million tons in 2012. Rice production is expected to increase in India, Indonesia, Myanmar and Pakistan in Asia and Brazil, Egypt, Guyana, Nigeria and Paraguay outside Asia. However, rice production in China, the EU, Madagascar, Thailand and the U.S. is expected to decline. The FAO says that rice production may decline in the U.S. and the EU because of the shift in the rice area to other remunerative crops. Production in China and Madagascar is likely to be affected due to weather disruptions, while production in Thailand is expected to due to the discontinuation of the government's pledging program from March 1, 2014 and falling prices. The FAO estimates 2013 paddy rice production in India to increase by nearly 1% to 159.3 million tons over 157.9 million tons in 2012. Vietnam paddy rice production is expected to increase by 1% to 44.1 million tons in 2013 from 43.7 million tons in 2012. However, paddy rice production in Thailand is expected to decline by around 4% to 36.6 million tons from 38 million tons in 2012. Paddy rice production in China is also expected to decline by 0.7% to 204.5 million tons in 2013 from 205.9 million tons in 2012.Global rice stocks are expected to increase to around 179.1 million tons in 2013, up about 4.1 million tons or 2.3% over the 175 million tons stocks in 2012. The increase is attributed to China's attempts to increase its share in world rice reserves to over 55%, and to Thailand's huge stocks that have accumulated from the rice pledging program and a slack export performance. The FAO also expects stocks to increase in Sri Lanka and Vietnam. However, it expects rice stocks in India to fall due to the implementation of the National Food Security Law. It also expects stocks to fall in Pakistan, the Philippines and the U.S. Tags: Global rice trade, global rice production, Food and Agriculture Organization (FAO) Nigeria Importers Urge Government to Lower Rice Import Duty to $190 Per Ton Mar 06, 2014 Nigeria's rice importers have urged the government to implement the newly agreed duty of $190 per ton on imported rice to combat smuggling via the land borders.Last month, the government had said that it will lower the duty on rice imports from $570 per ton $190 per ton but has so far not done so. Importers say that neighboring country Benin Republic is taking advantage of the government’s non-implementation of the reduced duty. They say that Benin Republic had slashed the import duty to $200 per ton, which is encouraging Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
smugglers to bring rice into Nigeria through the borders of that country.According to the Rice Millers, Importers and Distributors Association of Nigeria (RiMIDAN), the government is delaying implementation of lower import duty to improve value chain within the country, but this has led to smuggling of rice. Less than 100,000 tons of rice was legally imported into Nigeria in 2013, says the RiMIDAN president. This is in comparison to an estimated 2.9 million tons of rice imported by Nigeria last year.Nigeria is aiming to increase local rice production and reduce dependency on imports, and is planning to ban rice imports from 2015. According to the USDA, Nigeria produces around 2.8 million tons of rice and imports around 3 million tons of rice annually. The country’s annual consumption needs are at around 6 million tons. Tags: Nigeria rice smuggling, Nigeria rice import duty PhilRice Introduces 'Nutrient Manager' Software to Help Farmers Reduce Fertilizer Cost Mar 06, 2014 The Philippine Rice Research Institute (PhilRice) has introduced the "Nutrient Manager" software to assist farmers in assessing the right amount and time of applying fertilizers, according to local sources.“Nutrient Manager” is a decision support tool which makes recommendations based on farmers’ field conditions, varieties, and current practices. The tool is aimed to help farmers in reducing their farm expenses by about 50%, according to PhilRice. The tool could help farmers reduce average fertilizer cost per season by almost half from P5,000 (around $112) to P3,000 (around $67) and help boos farm income, PhilRice says. The "Nutrient Manager" tool consists of fifteen questions in English and in five local Filipino languages of Tagalog, Ilocano, Cebuano, Hiligaynon and Bikolano, which farmers have to answer. The program will make recommendations based on farmers' answers to the questions. The questions have been simplified for the benefit of the farmers, say officials. PhilRice's agriculture extension workers have been asked to assist farmers in using the program, which requires internet, and also in responding to the questions. According to PhilRice, extension workers are assisting farmers in Regions I, II and III.The Training Head of the "Nutrient Manager" said the program was the result of 15 years of research on site-specific nutrient management. "Recommendations are based on very extensive studies conducted in different locations in the country,” she adds. A project researcher at the PhilRice said the program is being preferred by many farmers to identify the correct time and correct amount of fertilizer to their lands. Tags: Philippine Rice Research Institute, Nutrient manager tool Thailand BAAC Urges Government to Pay Subsidies to Farmers for Not Growing Second Rice Crop 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
Mar 06, 2014 Thailand’s Bank of Agriculture and Agricultural Cooperatives (BAAC) has urged the caretaker government to pay direct subsidies to farmers to stop growing rice for the 2013-14 second crop (which runs from March 1 to September 30, 2014), according to local sources.The BAAC president told local sources that such a move would curtail new supplies entering the market, which is already reeling under excess supplies and falling market prices. Additional supplies would lead to further drop in prices, the BAAC president says. He cited examples of the U.S. and some European countries which offer subsidies to farmers to grow alternate crops.A Research Fellow from the Thailand Development Research Institute (TDRI) says that the farmers growing rice for the 2013-14 second crop may have to sell their produce at much lower prices compared to the pledging price offered by the Pheu Thai-led government, which has now ended the rice mortgage program. The Thai government started the rice mortgage program in October 2011, and it paid 15,000 baht (around $463) per ton for the 2011-12 first crop (October 1, 2011 to February 29, 2012). However, it reduced the pledging price to 13,000 baht (around $401) per ton from the 2011-12 second crop, which ran from March 1, 2012 to September 30, 2012. In comparison, local paddy prices have now dropped to around 6,500 to 7,500 baht (around $201 - $232) per ton for 20% moisture content and 8,000 to 8,500 baht (around $247 - $262) per ton for 15% moisture content, mainly due to the discontinuation of the rice mortgage program.Export prices of Thai rice have also dropped over the last few weeks according to the Honorary President of the Thai Rice Exporters Association (TREA). He says that the price of Thai 5% broken rice dropped by about 5% or $20 per ton to $415-$425 per ton from $435-$445 per ton three weeks ago. He also says that overseas buyers are waiting for Thai prices to fall further. “Rice buyers have stopped purchasing as they wait for cheaper prices, particularly after the Election Commission set the deadline for repayment of the 20 billion baht at the end of May. This means that Thailand has to sell more than two million tons in the market. When buyers realized this, they decided to wait to buy cheaper rice,” the TREA Honorary President says.Meanwhile, the news of the Thai Foreign Trade Department inking a government-to-government deal with China to sell one million tons of rice has brought some cheers to the Thai exporters. Tags: Thailand second rice crop, Bank of Agriculture and Agricultural Cooperatives (BAAC), Thailand rice mortgage program South Korea Buys 57,222 Tons of Rice from Asia Mar 06, 2014 South Korea has purchased about 57,222 tons of rice of Asian origin for prices of about $388.2 - $945 per ton in tenders issued on February 5, 2014 with February 20, 2014 as the last date for submission of applications.According to the state-run Agro-Fisheries & Food Trade Corp, South Korea purchased about 15,000 tons of Thai origin rice at a price of about $487.87 per ton; about 10,000 tons of Indian origin rice at a price of about $508.51 per ton; about 10,000 tons Thai origin rice at a price of about $388.20 per ton; about 12,222 tons of Vietnamese rice at a price of about $442.50 per ton; and about 10,000 tons of Chinese origin rice at a price of about $945 per ton. Tags: South Korea rice tender Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
Oryza Global Rice Quotes March 6th, 2014 Long grain white rice - high quality Thailand 100% B grade 430-440 ↔ Vietnam 5% broken 385-395 ↔ India 5% broken 415-425 ↔ Pakistan 5% broken 395-405 ↔ Cambodia 5% broken 450-460 ↔ 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 350-360 ↔ Vietnam 25% broken 355-365 ↔ Pakistan 25% broken 350-360 ↔ Cambodia 25% broken 420-430 ↔ India 25% broken 360-370 ↔ U.S. 15% broken 555-565 ↑ Long grain parboiled rice Thailand parboiled 100% stxd 449-450 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 495-505 ↓ 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 345-355 ↔ Pakistan 100% broken stxd 320-320 ↔ ↓ ↔ ↔ 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
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 Egypt medium grain 6% 620-630 NQ ↔ ↔ ↔ All prices USD per ton, FOB vessel, oryza.com For 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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