10th march,2014 daily global rice e newsletter by riceplus magazine
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10th march,2014 daily global rice e newsletter by riceplus magazine

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Daily Rice Global Rice e-Newsletter shared by Riceplus Magazine ...

Daily Rice Global Rice e-Newsletter shared by Riceplus Magazine
Riceplus Magazine shares daily International RICE News for global Rice Community. We publish daily two newsletters namely Global Rice News & ORYZA EXCLUSIVE News for readers .You can share any development news with us for Global readers.
Dear all guests/Commentators/Researchers/Experts ,You are humbly requested to share One/Two pages write up with Riceplus Magazine .
For more information visit (www.ricepluss.com + http://publishpk.net/index.php/riceplus).

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    10th march,2014 daily global rice e newsletter by riceplus magazine 10th march,2014 daily global rice e newsletter by riceplus magazine Document Transcript

    • 10th March , 2014 Share developments in RICE and allied sectors, Promote the Concept of Knowledge Economy Dear Sir/Madam, YOUR IDEA has a great worth---JUST share it through RICE PLUS 10000+ stakeholders of rice industry read & apply various ideas and analysis written by the authors. 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
    • Be the part of Rice plus authors Visit: www.ricepluss.com,www.publishpk.net mujahid.riceplus@gmail.com, riceplus@irp.edu.pk TOP Contents - Tailored for YOU Latest News Headlines…              Need to improve agri yields Confusion trails Nigeria’s rice policy, as Okonjo-Iweala, Adesina express divergent views Rice prices drop to 8,000 - 8,200 baht per ton Oryza Rice Currency Analysis for Today – Pakistan Rupee UP 1%; Brazil Real Down 1% Thailand Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Oryza White Rice Index – Is the End of the Thailand Rice Mortgage Scheme Bullish for Prices? Oryza Afternoon Recap – Chicago Rough Rice Futures Finish Slightly Higher on the Day, but With a Steep Loss on the Week; Soy, Wheat Rally while Corn Slips EU Rice Imports Up 8% from Last Year Oryza Overnight Recap – Chicago Rough Rice Futures Trade Higher Overnight Supported by Gains in Grain Complex Oryza Global Rice Quotes Thailand Rice Exporters Spreading Rumors About Low Price Trend, Says Deputy Commerce Minister Philippines to Continue Rice Imports in 2014, Says Agriculture Secretary China Signs MoU to Buy One Million Tons of Rice from Thailand NEWS DETAILS: Need to improve agri yields March 08, 2014 RECORDER REPORT 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
    • Pakistan's yield per acre of gram has dropped by 50 percent: from 5 maunds per acre to 2.5 maunds per acre, according to Ibrahim Mughal Chairman of the Agri-Forum Pakistan. This statistic would surprise no one in the wake of a 2011 United Nations Food and Agriculture Organisation (FAO) 2011 report that revealed that Pakistan was behind regional as well as global yields per acreage for nearly all crops including wheat, rice, sugarcane and pulses. The report added that while Pakistan is one of the ten major producers of wheat in the world, around 24 million tons, with 24.5 to 25 million tons of total output projected in the current year, yet our per acre yield is only 2.6 tons per hectare while India's yield is 2.8 tons and China's 4.7 tons per hectare. The highest wheat yield is in the UK at 7.7 tons per hectare; however, its cycle is spread over one year against five months in Pakistan. Wheat exports have varied - from 52.7 million rupees in July-April 2012-13 to 112.7 million rupees in 2011-12. Rice yield in Pakistan was calculated at 3.1 tons per hectare with a total output of around 9 million tons making Pakistan one of the ten largest producers of the crop world-wide. Rice exports have accounted for as high as 11 percent of our total exports accounting for almost 1.7 billion rupees in 2011-12. In contrast, India's yield per hectare is 3.3, Bangladesh's 4.2 and Sri Lanka's 4.1. China has the highest yield - 6.5 tons per hectare. Pakistan's sugarcane yield per hectare is 52.4 tons, in comparison to India's 66.1 tons which is the regional leader followed by China's 65.7 tons per hectare and Bangladesh's 43.8 tons per hectare. Brazil is the world leader at 79.2 tons per hectare. In coarse grains, Pakistan's yield is 2.2 tons per hectare, India's is lower at 1.2 tons per hectare and Italy has the highest yield at 7.6 tons per hectare. Pakistan's yield for pulses is 0.6 tons per hectare, India's per hectare yield is 0.7 tons, Bangladesh's 0.9 tons per hectare and the highest yield in pulses is in the UK at 3.9 tons per hectare. Pakistan, however, has the highest per acre yield of 21.6 tons per hectare in roots and tuber production, India's yield is 20.6 tons per hectare, China's 17.8, and Bangladesh 17.7. However, Pakistan is far behind the US registering where per hectare is 42.1 tons. The FAO report highlighted the reasons for the low yield in Pakistan in comparison to regional countries as well as globally: water shortage, absence of high yield varieties of seeds and lack of research and development. However, in this context it is relevant to note that FAO's data takes account of the national average while the yield per hectare of different crops varies from province to province. Punjab remains the food basket of the country and its yield is on average higher than the national average. Additionally, within provinces yield varies markedly between subsistence farms and those operated by the rich landlords whose yield per acreage is closer to the regional average. Be that as it may, it is also relevant to note that the Indian Punjab has a higher yield per hectare in most crops relative to the Pakistani Punjab. What is perhaps required is for the provincial governments, given that agriculture is a provincial subject, take cognisance of their farm sectors and initiate appropriate measures based on studies in high yield countries on how to increase yield. Assistance in this regard can be sought from China, the US and the UK as well as Brazil the world leaders in yields in specific crops. 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
    • Confusion trails Nigeria’s rice policy, as Okonjo-Iweala, Adesina express divergent views Bassey Udo Published: March 8,2014 The new official policy would be announced soon. Confusion trails the Federal Government‟s policy on rice importation as two ministers express divergent views on the current policy.About 48 hours after the Finance Minister, Ngozi Okonjo-Iweala, announced the federal government‟s decision to reduce import tariff on rice, and thus encourage legal importation, the Agriculture Minister, Akinwunmi Adesina, said the federal government is still determined to reduce importation of the product.Mrs. Okonjo-Iweala said on Wednesday in Abuja that government was contemplating on reducing the tariff on rice importation to help reduce smuggling of the commodity into the country. The minister was fielding questions during the maiden edition of „Budget 2014 Jam‟, a youth online programme initiated by the Finance Ministry to enable the minister answer questions from a cross section of Nigerians youth on the budget.The minister said that the existing 110 per cent duty on rice importation, recently put in place by the federal government, would have to be reviewed downwards as government has found that it was encouraging smuggling of the commodity into the country.“We increased the tariff to 110 per cent, and it encouraged some people to go and grow rice, and we grew 1.1 million metric tonnes of the product.“But, it also encouraged smuggling by neighboring countries, because they immediately dropped their own tariffs to 10 per cent,” Mrs. Okonjo-Iweala said. The finance minister explained that the government had decided to review the import tariff downwards because increased tariff was not working.“For rice, we decided to bring it (import tariff) down because we see that it (the current 110 per cent import tariff) is not working,” she said.But, the Agriculture and Rural Development Minister, Mr. Adesina, insisted on Friday that the federal government was still determined to discourage and stop rice importation.“We want to discourage those that bring rice as traders,” he said. “We want those that are going to go in and have commercial farms, produce rice, buy domestic paddy rice and mill it for us. He said government was looking at the rice tariff policy to discourage importers of rice, while encouraging those going into local production, processing and milling of rice.“That policy will be released very soon; you will see that we have chosen the path of supporting those that are investing in Nigeria, not those that are going 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
    • to be bringing rice from outside,” he said.The minister said that government would not allow any rice importer to create poverty in the country, saying that poverty is not an industry that should be developed. On dry season farming, Mr. Adesina said that the 2013/2014 programme was currently going on in 24 states of the federation with the aim of producing 2.1 million tons of rice.He said that the figure was equivalent to 75 per cent of the total rice imported into the country, if it could be milled at international quality standard.He stated that the 2014 Dry Season Farming Support Programme launched by President Goodluck Jonathan was aimed at making 600,000 farmers to benefit from a N14 billion grant.The Federal Government, he said, was committed to ensuring that more integrated rice mills were established in the country as local rice is better than the imported brand.He said he was confident that by 2016 or there about, Nigeria would be self-sufficient in rice production with the amount of local production the country is having today.Rice is the most consumed staple food by Nigeria‟s 160 million people. Rice prices drop to 8,000 - 8,200 baht per ton Sunday, 09 March 2014By NNT BANGKOK, 7 Mar 2014, The prices of rice have dropped to the range of 8,000 - 8,200 baht per ton for grain with 15% moisture content, according to the media reports, predicting that prices may dive even further down to 7,000 baht per ton.Rice millers are now offering the said prices only for off-season rice, as rice farmers have begun to unload their freshly harvested crops, the reports indicated, citing the 7,000 baht per ton price is the lowest level in 6 years.Currently, rice traders are keeping their eyes on the government‟s policies on the management of its stockpile of rice, as its rice pledging scheme will soon come to an end. Analysts pointed out that the government might rush to sell the stockpiled rice to obtain the money to pay rice farmers who have yet to receive the rice pledging program money, forcing the prices to drop further.According to the Commerce Ministry‟s record, the price during the first 3 months of 2009 was quoted at 2,125 baht per a 100-kilogram sack of white rice; currently, millers offer only 1,475 for each 100-kilogram sack Oryza Rice Currency Analysis for Today – Pakistan Rupee UP 1%; Brazil Real Down 1% Mar 07, 2014 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
    • U.S. dollar index was up +0.09% from the open today, when it traded at 79.730 at the close. Euro was stronger +0.08% by the close, trading around 1.3872 by end of day, after trading between an intraday high of 1.3915 and low of 1.3852. Thai baht was weaker -0.28%, trading at 32.325 at the close of business. Indian rupee was +0.05% stronger at 61.0875. Brazilian real was -0.96% weaker at the close of trading today, trading at 2.3464 reais per dollar. Pakistan rupee was +1.05% stronger at 103.2000. Vietnamese dong was unchanged at 21100. Mexican peso was weaker -0.39% today, when it traded at 13.2039 pesos per dollar by the close of business today. Chinese yuan was weaker -0.14%, trading at 6.1274. Argentine peso was stronger +0.14% at 7.8606 pesos per dollar. Thailand Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged Mar 07, 2014 Thailand rice sellers lowered their quotes for parboiled rice by about $5 per ton to about $435 - $445 per ton today. Other Asia rice sellers kept their quotes mostly unchanged. 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 $435 - $445 per ton, down about $5 per ton from yesterday. 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
    • 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, Vietnam rice quotes, Pakistan rice quotes, India rice quotes Oryza White Rice Index – Is the End of the Thailand Rice Mortgage Scheme Bullish for Prices? Mar 07, 2014 The Oryza White Rice Index, a weighted average of global white rice export quotes, ended the week at $457 per ton, down about $4 per ton from a week ago and $6 per ton from a month ago and down $35 per ton from a year ago. The index seems to have lost its upward trend since last autumn and is again declining toward $450 per ton, weighed down by Thailand quotes on ideas that Thailand will flood the market with cheap rice after the failure of its rice mortgage scheme.FAO‟s All Rice Price Index gained about 10 points in February, averaging about 237 points in February. This shows an increase of about 5% from January. The FAO also estimates 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
    • global rice trade will reach about 38.3 million tons in 2014, about 100,000 tons or 3% higher than in 2013. The International Grain Council (IGC) estimates global rice trade will reach about 38.5 million tons. The IGC also forecasts the global rice stocks-to-use ratio will decline for the first time in 9 years. Thailand While some fear that Thailand rice will flood the market, others say Thai rice supplies could dwindle after the rice mortgage scheme because farmers will not be incentivized to grow as much paddy. In fact, the Bank of Agriculture and Agricultural Cooperatives (BAAC) asked the government to pay subsidies to farmers to stop growing rice for the 2013-14 second crop (March 1 – September 30), according to local sources. The hope is that these direct subsidies will prevent new product from entering the already glutted market and help stabilize failing prices. Farmers who do grow rice for the second crop will likely receive much less for their rice than they did under the now-defunct rice mortgage program. With the government unable to pay farmers for the paddy they have pledged, it may be farfetched to see how the government can afford to pay farmers not to grow paddy. Perhaps Thailand tax payers need to prepare for higher fees and taxes? Either way, if Thailand paddy prices decline and farmers plant less paddy, Thailand rice prices and export quotes may advance. This could especially be the case if Thailand is not sitting on as much rice as we think (due to lost/stolen stocks). Meanwhile, in reply to concerns Thailand will flood the market with cheap rice, the Deputy Commerce Minister refutes claims that Thai rice prices are dropping quickly, claiming it‟s the Thai rice exporters who are spreading this rumor in efforts to buy cheap rice now to sell for a profit later. Thailand 5% broken rice is today quoted about $420 per ton, down about $10 per ton from a week ago, $20 per ton from a month ago and down $130 per ton from a year ago.The state-owned Cereals, Oils and Foodstuffs Corporation (COFCO) in China signed a Memorandum of Understanding with Thailand‟s Foreign Trade Department Thursday to buy one million tons of rice from Thailand. India India 5% broken rice ended the week at $420 per ton, unchanged from a week ago, up about $5 per ton from a month ago and down about $25 per ton from a year ago.The southern state of Karnataka has been criticized by India‟s Comptroller and Auditor General for contributing a fraction of the rice it should have toward the central pool. The Indian government has procured about 24.66 million tons of rice as of March 3, down about 10% from the same time last year, according to data from the Ministry of Consumer Affairs, Food and Distribution, a possible sign that production may fall short of projections.Next month, India‟s 814 million eligible citizens will start voting to decide whether Prime Minister Manmohan Singh‟s ruling party will retain its position as head of the country, as it has for decades. There will be 9 rounds of voting from April 7 to May 12 in order to elect 543 lawmakers. Vietnam 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
    • Vietnam 5% broken rice is today shown about $390 per ton, down about $10 per ton from week ago and down about $15 per ton from a month and a year ago.During January and February both, Vietnam exported about 637,756 tons of rice, about 14% less than the same time last year. In February 2014, Vietnam 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 announced it will stockpile one million tons of rice in the winter-spring crop, according to the Vietnam Food Association. They hope this will help firm paddy prices during harvest pressure. Pakistan Pakistan 5% broken rice is today quoted at about $400 per ton, unchanged from a week ago, up about $5 per ton from a month ago and down about $30 per ton from a year ago.Last week, Russia lifted a phytosanitary ban on Pakistani rice. Brazil The International Grain Council reports that production in South America is expected to reach a 3-year high of 16.4 million tons in 2013-14, about 4% higher than the previous year. Most of the increase is thanks to higher yields in Brazil.Brazil 5% broken rice is today shown about $665 per ton, unchanged from a week and a month ago. US U.S. 4% broken rice is today shown about $585 per ton, up about $5 per ton from a week and a month ago and down about $45 per ton from a year ago.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.Chicago rough rice futures for May delivery dropped throughout the week, declining from as high as $15.66 per cwt (about $345 per ton) on Monday to as low as $15.20 per cwt (about $335 per ton), before settling at $15.33 per cwt (about $338 per ton) Friday morning. Other Markets 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
    • The Philippines announced it will continue to import rice in 2014 in efforts to replenish stocks that were depleted by effects from the typhoons last year. In 2013, China imported about 2.2 million tons of rice, according to the General Administration of Customs in China. This is about 6% less than in 2012. Uruguay and Argentina 5% broken rice ended the week at $625 per ton, down about $5 per ton from a week and a month ago and up about $15 per ton from a year ago. Cambodia 5% broken rice is today quoted about $455 per ton, unchanged from a week and a month ago. Cambodia has already exported about 48,573 tons of rice in 2014, but this is about 2.5% less than the same time last year. Most of the rice was shipped to the EU, Malaysia, and China. Starting in 2014, South Korea will likely end its 20-year long rice import quota. The Agriculture Minister claims that they will set import duties between 300%-500% of import prices, a decision that must first be approved by the WTO. The final policy will be announced by the South Korean government by June. South Korea bought 57,222 tons of Asian-origin rice for prices of about $388.2 - $945 per ton in tenders issued February 5. Egypt may begin allowing rice exports again in efforts to boost the country‟s economy. The suspension has been in effect since November 2013. The Bangladesh government has decided to increase the Aman crop (May-December) rice procurement target between December 1 and February 28 by 33%, to a total of 400,000 tons of rice. They are targeting rice production of 35 million tons in FY 2013-14, about 3% higher than last year‟s production. According to the Jakarta statistics office, Indonesia‟s paddy rice production increased to 71.29 million tons in 2013, an increase of about 3% from 2012. Higher acreage and yields both contributed to this increase, which allowed them to decrease their imports by 67% in 2013, compared to 2012. Qatar has issued a tender to purchase 750,000 sacks of basmati rice 1121, according to Qatar‟s Central Tenders Committee. Submissions are due March 10. According to the USDA Post, Peru‟s milled rice production is expected to decrease to about 2.1 million tons in MY 2014-15 (April-March). This is about 3% and 56,000 tons less than the estimated 2.16 million tons in MY 2013-14. Tags: Oryza White Rice Index (WRI) Oryza Afternoon Recap – Chicago Rough Rice Futures Finish Slightly Higher on the Day, but With a Steep Loss on the Week; Soy, Wheat Rally while Corn Slips Mar 07, 2014 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
    • Chicago rough rice futures for May delivery settled 2.5 cents per cwt (about $1 per ton) higher at $15.310 per cwt (about $338 per ton). Rough rice futures settled slightly higher after a quiet trading session today. Prices remained trapped within a tight 11 cent per cwt (about $2 per ton) trading range, never moving more than 7.5 cents per cwt (about $2 per ton) to either side of unchanged. The day‟s gains provide additional support to the idea that a near term low of $15.200 per cwt (about $335 per ton) put in place on Wednesday will likely act as a turning point in the recent downtrend. Despite a modest attempt at a recovery over the last two trading sessions the loss for the week stands at 32.5 cents per cwt (about $7 per ton). Technically the market appears to be settling into a period of sideways trading bound by underlying support provided by the previously mentioned low and overhead resistance at $15.500 per cwt (about $342 per ton) a level that represents both technical and psychological significance. The other grains were mostly higher again today; soybeans closed about 1.4% higher at $14.5775 per bushel; wheat finished about 1.2% higher at $6.5400 per bushel; and corn finished the day about 0.4% lower at $4.8900 per bushel. U.S. stocks turned mostly lower on Friday, with the S&P 500 wavering in the wake of its record rise, after the February jobs report exceeded expectations. Figures from the Labor Department had the economy adding 175,000 jobs last month, following an upwardly revised 129,000 increase in January. The unemployment rate unexpectedly rose to 6.7%. Rising 83 points and falling as much as 6, the Dow Jones Industrial Average was recently up 12.43 points, or 0.1%, at 16,434.32. Stepping in and out of negative turf after rising to an intraday record of 1,883.58, the S&P 500 was lately off 2.17 points, or 0.1%, at 1,874.86, with materials hardest hit and financials the best performing of its 10 major sectors. Wavering between gains and losses, the Nasdaq was lately down 24.39 points, or 0.6%, to 4,327.72. Gold is trading about 1% lower, crude oil is seen trading about 0.9% higher, and the U.S. dollar is seen trading about 0.1% higher at about 1:00pm Chicago time.Thursday, there were 428 contracts traded, down from 628 contracts traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday increased by 97 contracts to 7,605. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market EU Rice Imports Up 8% from Last Year Mar 07, 2014 Since September 1, 2013 - the beginning of the 2013-14 crop year - to February 25, 2014, the European Union (EU) imported 448,810 tons of milled rice, up nearly 8% from 416,414 tons imported in the same period a year earlier. According to EU data, the United Kingdom is the biggest importers of foreign rice, importing 96,178 tons since September. The second biggest importer is France with 78,250 tons since beginning of crop year. The Netherlands follows with 60,288 tons. Italy's imports since September total 26,634 tons.Most of the rice imported to the EU is indica rice, both milled and half milled. Milled Indica rice imports advanced from 177,410 tons of one year ago to 242,825 tons of today, up 36.8% y/y; most of this rice was imported with zero import duties from Less Developed Countries (LDCs) such as Cambodia and former Myanmar under the Everything But Arms (EBA) agreement. Imports of broken rice declined about 6% from 160,046 tons of one year ago to 152,235 tons this 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
    • Oryza Overnight Recap – Chicago Rough Rice Futures Trade Higher Overnight Supported by Gains in Grain Complex Mar 07, 2014 Chicago rough rice futures for May delivery are currently paused 4.5 cents per cwt (about $1 per ton) higher at $15.330 per cwt (about $338 per ton) as of 8:00am Chicago time. The other grains are seen higher this morning ahead of floor trading in Chicago: soybeans are currently seen about 1.3% higher, wheat was paused about 1.9% higher, and corn is noted about 1% higher. U.S. stock index futures pointed to a higher open on Wall Street on Friday, as investors welcomed news that the U.S. economy created 175,000 jobs in February, with the number exceeding expectations. The benchmark 10-year Treasury yield, down 1 basis point at 2.726% before the report, shoot up 7 basis points in its wake, to 2.805%. The government also revised the prior month higher, now estimated that 129,000 jobs were added in January. Friday will also bring the latest U.S. trade report and consumer credit figures for January. Investors' other main focus will be on the escalating tension between the West and Russia over Ukraine. U.S. stock index futures are currently trading about 0.5% higher, gold is currently trading about 1.4% lower, crude oil is seen trading about 0.5% higher, and the U.S. dollar is currently trading about 0.2% higher at 8:00am Chicago time. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market Oryza Global Rice Quotes March 7th, 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 ↔ ↔ ↔ ↔ ↔ ↔ ↔ ↔ ↔ ↔ ↔ ↔ ↔ 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
    • Thailand parboiled 100% stxd 435-445 ↓ 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 ↔ 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 Thailand Rice Exporters Spreading Rumors About Low Price Trend, Says Deputy Commerce Minister Mar 07, 2014 Thailand's caretaker Deputy Commerce Minister has slammed Thai rice exporters for spreading rumors of a low price trend for Thai rice, according to the local sources.The minister says that the exporters are spreading rumors so that it will help them buy rice from government stockpiles at cheaper prices and sell the rice at a higher profit margin later this year. He has warned the exporters to stop such rumors or else they would be put under monitoring by the Internal Trade Department officials, who would scrutinize them for violating law on prices of goods and services.However, local sources say that domestic prices of Thai rice have dropped to around 8,000 - 8,200 baht (around $247 - $254) per ton for grain with 15% moisture content. Millers and traders say prices would further fall to around 7,000 baht (around $216) per ton as the farmers start offloading rice from the 2013-14 second crop into the market. Traders also say that prices may fall further as the government rushes to sell rice from its stockpiles to pay the farmers. Moreover, the caretaker government is under pressure to sell the stocks as it has to return the 20 billion baht (around $613 million) it is using from the 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
    • Central Budget to pay farmers before May 31, 2014.Separately, the Permanent Secretary for Commerce said the Agricultural Futures Trading Commission (AFTC) will promote sales of rice through the Agricultural Futures Exchange of Thailand (AFET) and pay farmers, who had pledged their rice under the rice pledging program. She said distribution of rice through the AFET is transparent and fair. Tags: Thailand rice exports, Thailand rice prices Philippines to Continue Rice Imports in 2014, Says Agriculture Secretary Mar 07, 2014 The Philippines government will continue to import rice in 2014 due to the depletion in rice stocks and shortfall in production due to typhoons last year, according to the Agriculture Secretary.The Agriculture Secretary says that the country targeted around 20 million tons of paddy rice production to achieve self-sufficiency in rice in 2013, but fell short by around 8% (around 1.56 million tons of paddy rice). The National Food Authority (NFA) also had to release large volumes of rice from stocks to victims of the Typhoon Haiyan (Yolanda). However, the Agriculture Secretary says that the government is studying the requirement.The NFA is mandated to maintain a buffer stock of 500,000 tons, sufficient to last for fifteen days at a national consumption rate of 34,000 tons daily. However, latest data from the Bureau of Agricultural Statistics (BAS) shows that NFA stocks have declined to 270,000 tons. NFA says that stocks are also low because it had to release more stocks into the market recently to control rice price rises in the country. According to the BAS, average retail prices of rice in February rose by 1.2% to P40.12 per kilogram ($898 per ton) over P39.6 per kilogram ($887 per ton) in January, up 14% from P34.5 (around $773 per ton) a year earlier.In February, 2014, the NFA invited private importers to apply for quota allocations to import 163,000 tons of well-milled rice under the Minimum Access Volume - Country Specific Quota (MAV-CSQ). The Philippines allocations were spread among Thailand (98,000 tons), India and China (25,000 tons each), and Australia (15,000 tons).Under its self sufficiency in rice goal, the Philippines government is targeting to produce 21 million tons of paddy rice in 2014, which is around 14% more than the 18.44 million tons produced in 2013. According to the USDA, the Philippines milled rice production in 2014 is estimated at around 11.64 million tons (about 18.47 million tons, basis paddy), against a consumption of around 12.85 million tons. Rice imports in 2014 are estimated at around 1.4 million tons, according to the USDA. Tags: Philippines rice imports China Signs MoU to Buy One Million Tons of Rice from Thailand Mar 07, 2014 China's state-owned Cereals, Oils and Foodstuffs Corporation (COFCO) signed a Memorandum of Understanding (MoU) with Thailand's Foreign Trade Department yesterday to buy one million tons of rice from 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
    • Thailand, according to local sources.According to Bloomberg, Thailand will supply the rice in 12 months. About 400,000 tons of rice will be shipped between March and July, 2014, with the first delivery of about 100,000 tons is scheduled for March 2014.Thailand's Foreign Trade Department Director-General said officials visited China this week for price negotiations. The meeting was a success and the deal indicates China's interest to buy more rice from Thailand, he said. He added that the Foreign Trade Department would invite Thai rice entrepreneurs to offer rice prices and improve rice quality to deliver to COFCO as per the agreed schedule. The Director-General also says that the Foreign Trade Department is negotiating with other countries more government-to-government deals may be signed this year.The Thai government is planning to auction around 500,000 tons of rice from its stockpile on March 10, 2014. Tags: China rice imports, Thailand rice exports, Cereals, Oils and Foodstuffs Corporation (COFCO) For Advertising SPECS & RATES Contact: Advertising Department Mujahid Ali mujahid.riceplus@gmail.com +92 321 369 2874 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