10th march,2015 daily exclusive oryza rice e newsletter by riceplus magazine

Daily Exclusive ORYZA Rice E-Newsletter
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Daily Exclusive ORYZA RiceNewsletter
Volume 5, Issue I
March 10, 2015

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Thailand Rice Exports Decline Sharply in
January 2015
Mar 09, 2015
Thailand has exported around 610,504 tons of rice in January 2015, down about 59% from
around 1.47 million tons exported in December 2014, and down about 12% from around 696,558
tons exported in January 2014, according to data from Thai Rice Exporters Association
(TREA). In value terms, Thailand’s rice exports earned about $336.75 million from total rice
exports in January 2015, down about 51% from around $693.75 million earned in December
2014, and down about 11% from around $376.51 million earned in January 2014.
In January 2015, white rice exports accounted for around 311,161 tons (about 51% of total
January 2015 exports), Hom Mali rice accounted for about 122,892 tons (about 20% of total

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January exports), brokens accounted for 34,942 tons (about 6% of total January exports),
glutinous variety accounted for 12,011 tons (about 2% of total January exports), parboiled rice
accounted for about 124,050 tons (about 20% of total January exports) and husked/brown rice
accounted for about 5,448 tons (about 0.1% of total January exports).
Average export prices of white, Hom Mali, and brokens varieties increased m/m in January 2015
, while prices of parboiled, glutinous and husked rice varieties remained at December 2014
levels. Average export prices of glutinous rice witnessed the highest increase of about 6%
month-on-month in January 2015.
Philippines Chief Economist Urges
Government to End Rice Import Restrictions
to Stabilize Prices
Mar 09, 2015
The Philippines Chief Economist has urged the
government to remove quantitative restrictions (QRs)
on rice imports to stabilize rice prices in the country,
according to local sources.The country's Economic
Planning Secretary, who is also the Director General
of the National Economic and Development
Authority (Neda), was reacting to the inflation figures
released by the Philippine Statistics Authority (PSA).
He noted that rising rice prices are partly responsible
for the high inflation and increased poverty incidence in the country.He slammed the
government's decision to seek extension of the QRs on rice imports at the World Trade
Organization (WTO) in order to protect the local rice sector from foreign competition. QRs
apparently allow the government to import a stated amount of rice at lesser duty and imports
over and above the quota can attract higher duties. Last year, the WTO allowed the Philippines to
extend the QRs until 2017. Under the new QR policy, the Philippines can import 805,200 tons of
rice under the minimum access volume (MAV) at 35% duty. Imports above the MAV will attract
50% duty.
In 2013, the government's decision to curb imports coupled with its rice self-sufficiency slogan
had led to increase in rice prices as well as unofficial rice imports. This experience had prompted
the government to act proactively last year and this year and import sufficient quantities of rice

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before the lean season (July-September).The National Food Authority (NFA) has decided to
import 200,000 tons of rice from Thailand and 300,000 tons of rice from Vietnam under
government-to-government (G2G) deals to ensure adequate stocks ahead of the lean season as
well as to curb price hikes. The NFA imported over 1.4 million tons of rice last year.
According to a latest report released by the PSA, the domestic rice stocks were sufficient for 69
days as of February 1, 2015. NFA stocks, which comprise of about 96.7% imported rice, were
sufficient for 15 days.USDA estimates Philippines 2014-15 milled rice imports at around 1.6
million tons, up about 10% from last year. On the other hand, the FAO has forecasted the
Philippines 2015 rice imports to remain at last year's level of around 1.8 million tons reflecting
the government's efforts to stabilize domestic rice prices and replenish public stocks.
Philippines Rice Stocks Continue to Decline
for Third Consecutive Month
Mar 09, 2015
The Philippines rice stocks have continued to decline for the third consecutive month in February
2015, according to the Bureau of Agricultural Statistics (BAS).Total rice stocks in the
Philippines as of February 1, 2015 reached around 2.35 million tons, down about 12% from
around 2.66 million tons recorded in January 2015, and up about 17.5% from around 2 million
tons recorded during the same period last year.
According to the BAS, household stocks (which account for about 44.5% of total rice stocks in
the country) have reached around 1.05 million tons as of February 1, 2015, down about 2% from
year-ago levels of around 1.07 million tons. Commercial warehouse rice stocks (which account
for about 32.8% of total stocks) have reached around 770,000 tons as of February 1, 2015, up
about 64% from their year-ago levels of around 470,000 tons. The rice stocks with the National
Food Authority (NFA) (which account for 22.5% of total stocks) stood at around 530,000 tons,
up about 15% from around 460,000 tons recorded in February 2014.Month-on-month, household
rice stocks are down about 21%, commercial warehouse rice stocks are down about 5% and NFA
rice stocks - in which about 96.7% are imported rice - are up about 2%, according to the BAS.
The BAS says that the Philippines' rice stocks as of February 1, 2015 are enough to last for 69
days (household stocks are enough for 31 days, commercial warehouses stocks are enough for 23
days and stocks with NFA are enough for 15 days).In its latest paddy production estimates, the
PSA forecasts the Philippines paddy production for the first quarter of 2015 (January - March) at

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around 4.46 million tons, up about 3.6% from around 4.31 million tons, and down about 2.8%
from last month's forecast of around 4.59 million tons.
The PSA estimates paddy acreage to decline to around 1.16 million hectares during the three-
month period from around 1.17 million hectares last year. Yield is also expected to decline about
2% to around 3.84 tons per hectare from last year's 3.93 tons per hectare.The NFA has decided to
import 500,000 tons of rice (200,000 tons from Thailand and 300,000 tons from Vietnam) under
government-to-government deals in 2015 to ensure adequate stocks in the lean season (June –
September). It imported more than 1.8 million tons of rice (including 1.5 million tons of 2014
imports and 300,000 tons of 2013 residual imports) in 2014 to replenish rice stocks and control
price hikes.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 around
18.822 million tons (around 11.86 million tons, basis milled) produced in the previous year.
Philippines Approves G2G Rice Import Deals of Vietnam, Thailand
Mar 09, 2015

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The National Food Authority (NFA) Council of the Philippines has approved the government-to-
government (G2G) deals of Vietnam and Thailand, according to Reuters. The two top exporting
nations bid for the Philippines rice imports of around 500,000 tons on February 27, 2015.While
Vietnam will supply 300,000 tons of rice, Thailand will supply 200,000 tons of rice before May
31, 2015. The imports are to ensure adequate stocks ahead of the lean season (July - September)
as well as to curb price hikes.
Sources at the NFA told reporters that further imports may not be ruled out but there is no
immediate clarity on the same. However, they noted that the government is not under pressure to
speed up imports as the total rice stocks are sufficient for 69 days (household stocks are enough
for 31 days, commercial warehouses stocks are enough for 23 days and stocks with NFA are
enough for 15 days), according to the Bureau of Agricultural Statistics (BAS). The NFA
imported over 1.7 million tons of rice last year.The government is also planning to procure
around 189,845 tons of paddy rice from farmers before June this year.

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The Philippines Statistics Authority (PSA) is estimating the Philippines to produce around 8.55
million tons of paddy rice in the first half-part (January - June) of 2015, up about 2.02% from
around 8.38 million tons produced during the same period in 2014.
Pakistan Rice Sellers Lower Some of Their
Quotes; Other Asia Rice Quotes Unchanged
Today
Mar 09, 2015
Pakistan rice sellers lowered their quotes for $5 broken rice by about $5 per ton to around $340 -
$350 per ton today. Other Asia rice sellers kept their quotes unchanged today.
5% Broken Rice
Thailand 5% rice is quoted at around $405 - $415 per ton, about $35 per ton premium on
Vietnam 5% rice shown at around $370 - $380 per ton. India 5% rice is quoted at around $390 -
$400 per ton, about $50 per ton premium on Pakistan 5% rice quoted at around $340 - $350 per
ton, down about $5 per ton from Friday.
25% Broken Rice
Thailand 25% rice is quoted at around $365 - $375 per ton, about $20 per ton premium on
Vietnam 25% rice shown at around $345- $355 per ton. India 25% rice is quoted at around $355
- $365, about $50 per ton premium on Pakistan 25% rice quoted at around $305 - $315 per ton.
Parboiled Rice
Thailand parboiled rice is quoted at around $400 - $410 per ton. India parboiled rice is quoted at
around $385 - $395 per ton, about $5 per ton discount to Pakistan parboiled rice quoted at around
$390 - $400 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is quoted at around $320 - $330 per ton, about $5 per ton
premium on Vietnam 100% broken rice shown at around $315 - $325 per ton. India's 100%

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broken rice is shown at around $280 - $290 per ton, about $10 per ton discount to Pakistan
broken sortexed rice quoted at around $290 - $300 per ton.
Oryza U.S. Rough Rice Recap - Quiet
Market Ahead of USDA WASDE Report
Mar 09, 2015
The U.S. cash market was unchanged today ahead of the USDA’s World Agriculture Supply and
Demand Estimate report due out Tuesday morning.
Analysts note that the market is extremely quiet with little buy or sell interest as sellers are still
hoping to get higher prices while buyers remain hand to mouth.
Pakistan Basmati Rice Export Prices
Increase Sharply in February 2015
Mar 09, 2015
Pakistan basmati rice prices, which have been declining since September 2014 have reversed and
increased sharply in February 2015, according to data from the UN's Food and Agriculture
Organization (FAO). The increase can be attributed to concerns over a likely reduction in 2014-
15 production.
In the January Crop Monitoring System Bulletin, the National Space Agency of Pakistan
(SUPARCO) and UN’s Food and Agriculture Organization (FAO have estimated Pakistan FY
2014-15 (July - June) paddy rice production to decline about 19% to around 8.437 million tons
(around 5.65 million tons, basis milled) from around 10.04 million tons (around 6.72 million
tons, basis milled) produced last year.

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In February 2015, Pakistan's basmati rice export prices have increased about 12% to around $978
per ton from around $876 per ton in January 2014, and down about 27% from their year-ago
levels of around $1,348 per ton.
In terms of local currency, average Pakistan basmati rice prices in February 2015 increased to
around PKR 99,512 per ton (using historical exchange rates), up about 13% from around PKR
88,305 per ton in January 2015, and down about 29% from around PKR 140,731 per ton in
February 2014.
Average Pakistan basmati rice prices stood at around $927 per ton in the first two months of
2015 (January - February), down about 32% from around $1,372 per ton recorded during the
same period last year.
Average basmati rice prices increased between August and September 2014 and peaked to
around $1,450 per ton in September 2014 due to fears of a fall in production as floods affected
large area of basmati rice acreage in Punjab. However, the overall production of basmati rice has
not been significantly affected by floods. Pakistan basmati growers associations have been

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urging the government to provide adequate support to increase competitiveness of Pakistan's
basmati rice in the global market.
Global Rice Quotes
March 10th, 2015
Long grain white rice - high quality
Thailand 100% B grade 410-420 ↓
Vietnam 5% broken 365-375 ↓
India 5% broken 390-400 ↔
Pakistan 5% broken 345-355 ↑
Myanmar 5% broken 415-425 ↑
Cambodia 5% broken 425-435 ↔
U.S. 4% broken 480-490 ↔
Uruguay 5% broken NQ ↔
Argentina 5% broken NQ ↔
Long grain white rice - low quality
Thailand 25% broken 365-375 ↔
Vietnam 25% broken 345-355 ↔
Pakistan 25% broken 310-320 ↑
Cambodia 25% broken 410-420 ↔
India 25% broken 355-365 ↔
U.S. 15% broken 470-480 ↔
Long grain parboiled rice
Thailand parboiled 100% stxd 400-410 ↔
Pakistan parboiled 5% broken stxd 395-405 ↑
India parboiled 5% broken stxd 385-395 ↔
U.S. parboiled 4% broken 555-565 ↔
Brazil parboiled 5% broken 570-580 ↔
Uruguay parboiled 5% broken NQ ↔
Long grain fragrant rice
Thailand Hommali 92% 920-930 ↔
Vietnam Jasmine 465-475 ↑
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 790-800 ↔
Brokens
Thailand A1 Super 325-335 ↑

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Vietnam 100% broken 310-320 ↓
Pakistan 100% broken stxd 280-290 ↓
Cambodia A1 Super 345-355 ↔
India 100% broken stxd 280-290 ↔
Egypt medium grain brokens NQ ↔
U.S. pet food 380-390 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Guyana Secures Venezuela Rice Export Deal,
Says Agriculture Minister
Mar 09, 2015
The government of Guyana has
secured the deal to export
around 200,000 tons of paddy
and rice in 2015, according to
local sources.Guyana's
Agriculture Minister told local
sources that the Venezuelan
authorities have confirmed the
continuation of the Petro-
Caribe deal that was signed
between the two countries in
2009. Under the deal, Guyana
will export rice to Venezuela
and import oil from the
neighboring country. The deal
is valued at around $120 billion
he said. The export prices of
rice and paddy are understood
to be at 2014 levels.He also noted that the first shipment to Venezuela would take place just
before the harvesting of the first crop of 2015 begins.
With an expected increase in production, the government has been exploring new markets for its
rice. The Agriculture Minister noted that the government has struck deals with new markets in
Central America and Africa apart from the existing markets.Guyana aims to produce about

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618,000 tons of milled rice and export around 521,000 tons in 2015. Guyana has exported around
501,208 tons of rice in 2014, up about 27% from around 394,000 tons exported in 2013,
according to the Agriculture Minister.
FAO Estimates Indonesia to Import 1.2
Million Tons of Rice in 2014-15
Mar 09, 2015
The UN's Food and Agriculture Organization (FAO) estimates Indonesia's rice imports to return
to more normal quantities and reach around 1.2 million tons in 2014-15 (April - March) due to a
reduction in 2014 aggregate rice production.The FAO estimates Indonesia's 2014 aggregate
paddy rice production at around 70.61 million tons (around 45 million tons of rice, basis milled),
slightly down from an estimated 71.28 million tons (around 45.3 million tons of rice, basis
milled) in 2013 due to a slight contraction in paddy acreage. A reduction in paddy acreage is

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attributed to a shift from paddy to other crops as well as occurrence of floods from mid-January
to late-February disrupting planting activities in major rice growing regions.Harvesting of the
2015 main wet season paddy crop has started and will continue till mid-July.
The rice producing regions Java and Sulawesi received above-average rains between November
and late February. But below-average rains between January and early March over parts of
Sumatera Island reduced soil moisture.
The FAO estimates aggregate paddy rice production in 2015 at around 73.4 million tons (around
46.6 million tons of rice, basis milled), up about 4% from an estimated 70.6 million tons (around
45 million tons of rice, basis milled) in 2014. The government has been aiming to achieve self-
sufficiency in rice production this year and accordingly has been providing support to the sector.
Rehabilitation of irrigation channels as well as distribution of subsidized seeds and fertilizers has
been the government's core agenda in this regard.Average rice prices have been increasing since
September 2014. Currently, average rice prices stand at around 9.94 million rupiah (Around
$780 per ton).USDA estimates Indonesia to produce around 36.5 million tons of rice, basis
milled (around 57.4 million tons, basis paddy), and import around 1.3 million tons of rice in MY
2014-15 (October - September).
Argentina Exports 510,707 Tons of Rice in
2014; Down 5% from Previous Year
Mar 09, 2015
Argentina has exported around 510,707 tons of rice in 2014 (January – December), down about 5% from
around 535,722 tons exported during the same period in 2013, according to data from the Ministry of
Agriculture in Argentina. Argentina exported around 11,700 tons of rice in December 2014, down about
71% more from around 40,067 tons exported in November 2014; and down about 73% from about
42,915 tons exported in December 2013.
In the month of December, Argentina exported around 4,425 tons of rice to Chile (about 38% of
total December 2014 exports), around 2,799 tons of rice to Bolivia (about 24% of December
exports), around 22,76 tons of rice to Brazil (about 19% of December exports), and around 1,400
tons of rice to Costa Rica (about 12% of December exports). It exported the remaining 7% or
around 766 tons of rice to Denmark (181 tons), the U.S. (329 tons), Israel (16 tons), Italy (15
tons), Netherlands (50 tons), the U.K. (20 tons), Germany (108 tons) and Canada (47 tons).

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USDA estimates Argentina's milled rice production at about 975,000 tons in MY 2014-15 (April
– March), against consumption of around 500,000 tons. It estimates Argentina to export around
580,000 tons of rice in MY 2014-15.
Oryza Afternoon Recap - Chicago Rough
Rice Futures Close Higher on Support from
Firmer Grain Prices
Mar 09, 2015
Chicago rough rice futures for May delivery settled 6 cents per cwt (about $1 per ton) lower at
$10.535 per cwt (about $232 per ton). The other grains finished the day higher; Soybeans closed
about 0.8% higher at $9.9325 per bushel; wheat finished about 1.6% higher at $4.9000 per
bushel, and corn finished the day about 0.7% higher at $3.8875 per bushel.U.S. stocks traded

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mostly higher on Monday as investors reevaluated the impact of Friday's strong jobs report on
the timing of a Fed interest rate hike.
Monday is the sixth anniversary of the bull market that began after the recession. The Dow
added more than 170 points and the S&P 500 rose 0.50%, while the Nasdaq added 17 points. In
Europe, equities were modestly lower on Monday amid speculation that Friday's better-than-
expected U.S. jobs report will lead the Fed to hike rates soon. The European Central Bank
launched its 60 billion euro-a-month ($66.3b) bond-buying program on Monday and euro zone
finance ministers also discussed Greece's reform plans. Investors now see a June rate rise as
more likely after February's nonfarm jobs report showed a gain of 295,000, above expectations
of 240,000 in February, down from 257,000 in January.
The unemployment rate fell to 5.5 percent, while hourly wages ticked up 0.1%, below consensus
and off the surprise 0.5% gain in January. The Dow Jones industrial average traded up 158
points, or 0.89%, at 18,014. The S&P 500 traded up 11 points, or 0.54%, at 2,082, with
industrials leading all sectors except telecommunications higher. The Nasdaq gained 18 points,
or 0.37%, at 4,945. Gold is trading about 0.2% higher, crude oil is seen trading about 1.1%
higher, and the U.S. dollar is seen trading a tick higher at about 1:00pm Chicago time.Friday,
there were 590 contracts traded, down from 598 contracts traded on Thursday. Open interest –
the number of contracts outstanding – on Friday decreased by 4 contracts to 9,095.
FAO Estimates Japan 2014-15 Rice Imports
at 700,000 Tons
Mar 09, 2015
The UN's Food and Agriculture Organization (FAO) estimates Japan's 2014-15 (April-March)
rice imports at around 700,000 tons.Harvesting of the 2014 paddy crop has been completed in
November. The FAO estimates Japan's 2014 aggregate paddy production at around 10.6 million
tons (around 7.74 million tons, basis milled), down about 1% from around 10.76 million tons
(around 7.85 million tons, basis milled) in 2013 due to a slight decline in planting area.USDA
estimates Japan to produce about 10.548 million tons of paddy (around 7.68 million tons, basis
milled) in MY 2014-15 (November - October) and import around 700,000 tons of rice in 2015.

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10th march,2015 daily exclusive oryza rice e newsletter by riceplus magazine