28th january,2014 daily  exclusive oryza newsletter by riceplus magazine
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28th january,2014 daily  exclusive oryza newsletter by riceplus magazine 28th january,2014 daily exclusive oryza newsletter by riceplus magazine Document Transcript

  • 28th January , 2014 TOP Contents - Tailored for YOU Latest News Headlines… Philippines Consumer Group Urges Government to Review Rice Import Policies A New Try at an Old Practice: Rice Paddies Double as Fish Farms Cambodia Efforts to Resolve EU Allegations over Rice Origin Authenticity Will Fall Short without Third-Party Verification Oryza Quick Glance at World News Italian Agriculture Minister Steps Down Amid Bribery Accusations Oryza U.S. Rough Rice Recap – Bulls Anticipate Limited Supplies Come Summer; Winter Weather Slows Rice Movement Cambodia Will Struggle to Meet 2015 Export Goal without Major Infrastructure Overhauls Oryza Afternoon Recap – Chicago Rough Rice Futures Move Higher, but Fail to Overcome Nearby Technical Resistance Oryza Rice Currency Analysis for Today – Brazil Real Down 1% Thailand Rice Farmers in North Support Populist Rice Mortgage Program Africa Business Conglomerate to Invest $300 Million to Boost Nigeria Rice Production Maldives Tenders to Buy 9,000 Tons of Parboiled Rice Oryza Overnight Recap – Chicago Rough Rice Futures Begin the Week Slightly Lower as Bearish Technical Indicators Drive Prices Direction Asia Rice Quotes Unchanged Today 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 State Council Approves $4 Billion Government Loan; BAAC Revises Lending Packages to Help Farmers IRRI Trials Show 45% Higher Yield in Flood-Resistant 'Swarna-Sub1' Rice Variety Oryza Global Rice Quotes NEWS DETAILS: Philippines Consumer Group Urges Government to Review Rice Import Policies Jan 27, 2014 A Philippines consumer group, Action for Consumerism and Transparency for Nation Building (Action), has urged the government to form clear and definitive import rules for farmers' cooperatives to curb rampant rice smuggling in to the country.The consumer group representatives met the Department of Justice (DoJ) on Sunday and requested the department to review government's rice importation policies and procedures. The group says that the DOJ should review the National Food Authorities‟ (NFA) allowable rice imports in the country under the quantitative restriction (QR) quota of the government, the private sector quota, as well as the government-to-government rice trade.The consumer group also urged the DoJ to consider the rights and opportunities given to farmers' cooperatives to import rice. It said that while the NFA allowed farmer cooperatives to import rice with an intention of protecting those (as it was felt farmers would be worst affected due to the entry of cheaper rice), the NFA did not provide them proper credit facilities to import rice. The group also said that absence of restrictions on farmer cooperatives on seeking private financing or jointventuring have allowed farmer cooperatives to sell their import quota to large businessmen. This has allowed big business syndicates to dominate the rice import market and ultimately to rice smuggling in the country, the group noted. The consumer group also urged the Senate to pass laws to address the import problems of the cooperatives and stop rice smuggling in to the country.According to the Bureau of Customs (BOC), the government lost revenue of nearly P7 billion (around $154 million) in 2013 due to rice smuggling. Tags: Philippines rice imports, Philippines rice smuggling A New Try at an Old Practice: Rice Paddies Double as Fish Farms Jan 27, 2014 Fish have been raised in rice paddies for at least 2,000 years in parts of Asia. It‟s a symbiotic pairing; the fish waste provides nutrients such as phosphorous and nitrogen that helps the rice plant to grow and the cycle restarts as the fish eat the insects drawn to the rice paddies.During the “Green Revolution” in the mid-twentieth 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
  • century, however, these rice-fish systems became less common as high-yield rice and the use of pesticides and herbicides dominated the industry. These chemicals are toxic to fish. Rice-fish systems gained global attention again in the 1980s and 1990s when public concern about safety led farmers to look for alternatives to the widespread use of pesticides. When executed properly, rice-fish cultures can have positive effects on rice crops – the yields can increase by as much as 10%, the fish provide a protein source for farmers‟ families to eat or sell, and there is reduced need for pesticides and fertilizers. A team of researchers led by Madan Dey, a professor at the aquaculture and fisheries center at the University of Arkansas, is reexamining this centuries-old practice with an eye for improving both its efficacy and its ease of implementation in contemporary rice fields. The team claims that with the government‟s financial and institutional support, existing rice-fish cultures can be renovated to improve their payoff for small-scale, resource-poor farmers in Bangladesh. The authors say that these fish-rice systems could be successful on 2-3 million hectares of land in Bangladesh.Most recent experiments and innovations in rice-fish systems are executed by individual farmers and communities. The public research that has been done in Bangladesh has largely focused on concurrent rice-fish systems, where the fish are grown in wet paddy, instead of systems that alternate between rice and fish or collectivelymanaged systems. The researchers of this study, published in Food Policy, say that all of these strategies can increase productivity. Bangladesh is a country that could greatly benefit from increased agricultural productivity, and the authors of the study suggest the government focus on fixing several challenges facing rice-fish farmers. Specifically, it could provide information about and assistance with different types of rice-fish ecologies; good quality young fish; and access to post-harvest processing, storage, and transport infrastructure. Furthermore, the authors urge fellow researchers, extension agents, and non-government organizations to assist.As both land and water become increasingly scarce on this planet in the coming decades, more countries might find it beneficial to research the advantages and implications of co-dependent systems such as this. Bangladesh has a unique opportunity to lead the way. Tags: rice paddies, fish production, Bangladesh rice production Cambodia Efforts to Resolve EU Allegations over Rice Origin Authenticity Will Fall Short without Third-Party Verification Jan 27, 2014 Seeing declining rice acreage and depressed prices at home, the EU rice industry fears that Least Developed Countries (LDCs) like Cambodia are abusing the EU‟s zero import duty status under the Everything But Arms (EBA) agreement. Part of the expressed fear is that exporters are shipping non-Cambodian rice to the EU under the guise that it is Cambodian rice, in order to illegally enjoy the zero-import duties. EBA zero duty privilege 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
  • was granted to help Cambodian farmers and alleviate rural poverty.In response, Cambodia is working to set up oversight infrastructure to improve the accountability of exporters, to verify that it is Cambodia origin rice being exported to the EU with zero import duties, not Vietnam or Thailand rice. If Cambodia loses the zero import duty privilege, it would be a major blow to the nation‟s efforts to increase its rice exports and reach one million tons annually by 2015; Cambodian rice would simply not be as price competitive. Cambodia exported 378,856 tons of milled rice in 2013, out of which 234,679 tons were exported to the European Union.Local sources tell Oryza that Cambodia is now finalizing an official Code of Conduct (CoC) designed to assure the EU of the origin of rice supplies label as being from Cambodia. The CoC outlines that Cambodia will take seriously any EU accusations and will prosecute those found guilty. However, a much better option, and one the EU would take more seriously, is to outsource the process to a third party. Cambodia should use an international inspection company/surveyor such as SGS to do the IP inspection at the point of production and milling. For example, a Cambodian mill will be inspected by third party surveyors who certify that the mill bought Cambodian paddy, and that paddy was milled in Cambodia, and then containers would be sealed at origin to destination points with third-party certification.This will be an additional cost of course, but would clear the air and potentially allow Cambodia to keep the zero duty status under the EBA agreement and maintain, or grow, market share in the EU. Tags: Cambodia rice exports, Least Developed Countries (LDCs), EU rice imports, Everything But Arms (EBA) agreement Oryza Quick Glance at World News Jan 27, 2014 Financial Times – *Mario Draghi has signaled that he would be prepared for the ECB to fight deflation in Europe by buying packages of bank loans to households and companies. *Google has made its largest European acquisition yet with the purchase of DeepMind, an artificial intelligence start-up based in London. *The Ben Bernanke era at the U.S. Federal Reserve will end this week and, barring severe market turmoil in the next few days, the final act is very likely to be another $10 billion reduction in the pace of asset purchases to $65 billion a month. *The escalation of a trade war between the U.S. and China over solar power components threatens to do serious damage to the American industry, its leading association has warned. *Google and Samsung have bolstered their alliance through a wide-ranging patent licensing agreement, in the face of intensifying intellectual property battles with smartphone rivals such as Apple. The technology heavyweights struck a global patent cross-licensing deal extending beyond mobile devices into a “broad range of technologies and business areas,” announced on Sunday. 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
  • *Protests against Ukraine‟s president Viktor Yanukovich were on Sunday spreading into his political heartland in the country‟s east and south, as momentum appeared to move in favor of anti-government demonstrators after two months of rallies. *Karl Slym, managing director of Tata Motors Ltd, had died following "a fall from a higher floor" of the Shangri-La Hotel in Bangkok. He had been staying there during a trip to attend a board meeting at the group's Thai division. *A fortnight of turmoil for French president Francois Hollande ends with mixed news from credit rating agency Moody's. France's credit rating has been maintained at Aa1, the second highest rating that the agency can give. However, the outlook for the rating has also been kept at negative, a status that suggests the next move by the agency is more likely to be a cut in France's rating rather than a rise. Wall Street Journal*China sentenced a prominent political activist, Xu Zhiyong, to four years in prison and accused an academic from northwest China's Uighur ethnic minority of taking part in separatist activities, in a sign of the new Chinese leadership's intolerance of even moderate dissent. *Japan logged a record trade deficit for all of 2013, the third straight year of red ink, as Prime Minister Shinzo Abe's efforts to lift exports and reverse a long-standing trend toward greater overseas production have so far failed to make much headway. The government figures released Monday showed that the deficit in December was ¥1.302 trillion ($12.73 billion), double the year-ago figure. *Egypt's military-backed government said it would hold presidential elections before a parliamentary vote, a reversal that stands to give the next president considerable legislative authority. *Italy's Agriculture minister Nunzia De Girolamo announced her resignation late Sunday, a development that increases pressures on Prime Minister Enrico Letta to speed up efforts to strengthen his fragile broad coalition cabinet. *Britain's opposition Labor Party said Saturday that it would reintroduce a 50% income-tax rate for those earning more than 150,000 pounds ($247,000) a year if it wins the next general election in 2015 as part of its plan to bring a surplus on the current budget and get the national debt falling by 2020. *One person was killed and several injured amid clashes between rival political factions in the Thai capital on Sunday as antigovernment protesters blockaded polling stations, disrupting advance voting for February 2's national elections. *A controversial preclearance customs post has opened in Abu Dhabi that allows Etihad Airways passengers to effectively touch down on U.S. soil before boarding the plane, a benefit that pilot associations say gives the state-backed carrier an unfair advantage over peers. *U.S. President Barack Obama's State of the Union address Tuesday night will seek to shift the public's souring view of his leadership, a challenge the White House sees as critical to shaping the nation's policy direction over the next three years. New York Times*The U.S. is deeply concerned about the escalation of religious violence in Central African Republic and is prepared to impose sanctions against those responsible, Secretary of State John Kerry said on Sunday. *South Korea on Monday proposed that the rival Koreas hold reunions next month for families separated by the 1950-53 Korean War, the latest response from a wary Seoul to Pyongyang's recent charm offensive. 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
  • *As Argentina absorbs the shock from a sharp plunge in its currency, President Cristina Fernández de Kirchner‟s mercurial young economy minister, Axel Kicillof, a scholar with rockabilly-style sideburns and an aversion to business suits, is emerging as the face of policy shifts that are sending tremors through financial markets around the developing world. *The Indian government could review restrictions on gold imports, which include a record 10% import duty, by the end of this year, Finance Minister P. Chidambaram said on Monday. *Stock market regulators should take a hard look at the „maker-taker' form of trading that now dominates share transactions in the U.S., Jeffrey Sprecher, CEO of the InterContinental Exchange and new chief of the New York Stock Exchange, said on Sunday. *After repeated frustrations in its efforts to end a long-running insurgency in the southern Philippines, the government had a message for rebels: now or never. It was an argument, analysts say, which helped President Benigno S. Aquino III finally reach a landmark peace deal over the weekend with the country‟s largest Muslim rebel group. Tags: World news Italian Agriculture Minister Steps Down Amid Bribery Accusations Jan 27, 2014 The Italian Minister of Agriculture, Nunzia De Girolamo, resigned yesterday after being accused of bribery, although no formal charge has yet been made; speaking to the Italian Parliament, she has denied the accusation and only stepped down due to a lack of government support. The alleged bribery took place two years ago, before she became a government official.At the moment, Italian Prime Minister Enrico Letta will personally handle agricultural matters, but local sources say that in a few weeks a new Minister of Agriculture will be appointed. Nunzia De Girolamo on the 16-17th of December at an EU meeting represented the Italian rice industry – with support from Bulgaria, Greece, Spain, France, and Portugal - in asking the EU to stop duty-free rice imports from LDC (Least Developed Countries) due to increased alarm European rice producers were facing from rising duty-free rice imports from LDCs under the Everything But Arms (EBA) agreement. It‟s unclear how her departure will affect Italy‟s moves to potentially limit duty-free rice imports under the EBA agreement. Read the related Oryza story: http://www.oryza.com/news/rice-news/italian-minister-agriculture-faces-briberycharges-may-impact-efforts-limit-duty-free Tags: italian agriculture minister, bribery, EU rice imports, Cambodia rice exports Oryza U.S. Rough Rice Recap – Bulls Anticipate Limited Supplies Come Summer; Winter Weather Slows Rice Movement 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
  • Jan 27, 2014 The U.S. cash market remains firm as many expect the market will just barley have enough rice to make it to the new crop arrives. Analysts expect that the movement of rice will come to a standstill for a few days as unusually cold weather settles over the U.S. mid-south, covering much of the region with ice. As of today, offers can still be found as low as $15.55 fob farm (about $343 per ton); however, most farmers are looking for at least $16.11 per cwt fob farm (about $355 per ton). Bids from larger mills increased slightly back to around $15.00 per cwt (about $331 per ton) while bids for exporters could still be found around $15.50 per cwt (about $342 per ton), both for February through March delivery, although there were reports of trades occurring 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. Tags: U.S. rice market, U.S. rice prices Cambodia Will Struggle to Meet 2015 Export Goal without Major Infrastructure Overhauls Jan 27, 2014 Cambodia is targeting one million tons of rice exports by 2015 and the challenges in meeting that goal consist of large infrastructure shortfalls, according to local sources. Over two years ago, the Prime Minister established Technical Working Group no 9 (TWG9) to deal exclusively with rice issues. However, TWG9 has been deemed ineffectual and thus a TWG10 has been set up to seek the foreign direct investment (FDI) funds needed to invest in Cambodia‟s infrastructure. The hope is that improved infrastructure will grease the wheels of Cambodia‟s rice production and export sector, allowing the country to earn foreign exchange and raise domestic incomes. What is the Cambodian rice sector pushing for? Cheaper electricity for milling, and improved rail and port logistics, among other things. The Port of Sihanoukville needs an upgrade to be able to accommodate larger vessels suitable to transport bulk commodities (the size of 20,000 MT to 40,000 MT size).Shortfalls of the Port of Sihanoukville include: 1/ No berth deep enough to allow larger vessels, right now only 11,000 DWT vessels can berth at the Port 2/ No professional stevedoring services available to handle bulk loading 3/ No appropriate warehousing facilities to store edible commodities like rice (which require a minimum hygienic standard) 4/ High port charges compared to neighboring ports like Chalem Bang in Thailand and Cai Mep in Vietnam. Finally, local sources say the Port of Sihanoukville has been conceptualized wrongly from the start, designed to operate purely as a container port but not for bulk loading.However, as one source told Oryza, the other issue is what bulk commodity Cambodia can import to cover the cost of ships coming to (not just from) Cambodia. Without a counter import flow, ships would need to arrive at the Port of Sihanoukville empty, an expensive proposition. 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
  • Tags: Cambodia rice exports Oryza Afternoon Recap – Chicago Rough Rice Futures Move Higher, but Fail to Overcome Nearby Technical Resistance Jan 27, 2014 Chicago rough rice futures for March delivery settled 5.5 cents per cwt (about $1 per ton) higher at $15.480 per cwt (about $341 per ton). Rough rice futures began the week on a positive note, more than erasing losses sustained on Friday. The market did move to test and confirm nearby technical resistance but was unable to overcome this point noted at $15.500 per cwt (about $372 per ton). The market continues to suffer from a lack of fundamental pressure as the cash market continues to be very quiet. There is little in the way of fresh demand, while suppliers price ideas remain high based on perceived scarcity of supply. The other grains were mostly higher today with wheat noted as the only component to finish lower; soybeans closed about 0.2% higher at $12.8775 per bushel; wheat finished about 0.3% lower at $5.6350 per bushel; and corn finished the day about 0.5% higher at $4.3275 per bushel.U.S. stocks mostly fell on Monday, with the Dow Jones Industrial Average wavering in the wake of its worst week since November 2011. The Commerce Department reported new home sales totaled 414,000 in December versus a 458,000 estimate. Wavering between gains and losses, the Dow Jones Industrial Average was lately 0.1% higher. The S&P 500 was down 0.2%, with technology the worst performing and telecommunications faring best of its 10 major sectors. The Nasdaq fell 0.8%. The dollar edged higher against the currencies of major U.S. trading partners and Treasury prices retreated, with the yield on the 10-year note used in figuring mortgage rates and other consumer loans rising 4 basis points to 2.754%. US stocks are seen trading about 0.1% higher, gold is trading about 0.3% lower, crude oil is seen trading about 0.9% lower, and the U.S. dollar is seen trading slightly higher at about 1:00pm Chicago time. Looking to the daily continuation chart of Chicago rough rice futures for March delivery, the market traded to either side of unchanged but spent the majority of the afternoon trading slightly higher. A last minute push by the bulls saw prices reach what ultimate became the high of the day at $15.500 per cwt (about $372 per ton). This level coincides with the 20-day moving average, a closely watched level as a close above or below can trigger additional technical trading. Today the bulls were unable to overcome technical resistance at this level and prices remain in technically bearish territory, between the 20-day moving average and the lower Bollinger band. The 20-day will continue to act as the nearby point of resistance and the lower Bollinger band at $15.280 per cwt (about $337 per ton) provides the current price objective. Although prices finished higher on the day, the markets inability to overcome the previously mentioned point of resistance is seen as a negative development and indicates that prices could come under additional pressure tomorrow. Today‟s trading range is noted as $15.410-$15.500 per cwt (about $340-$342 per ton). Friday, there 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
  • were 264 contracts traded, down from 752 contracts traded on Thursday. Open interest – the number of contracts outstanding – on Friday decreased by 23 contracts to 7,430. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market Oryza Rice Currency Analysis for Today – Brazil Real Down 1% Jan 27, 2014 U.S. dollar index was up +0.07% from the open today, when it traded at 80.512 at the close. Euro was weaker -0.09% today by the close, trading around 1.3666 by end of day, after trading between an intraday high of 1.3717 and low of 1.3653. Wednesday the U.S. Federal Reserve is expected to announce details about the future of QE3, likely moving markets. Thai baht was weaker -0.24%, trading at 32.920 at the close of business. Indian rupee was weaker -0.66% at 63.1012. Brazilian real was -1.04% weaker than the open at today‟s close, when it ended at 2.4227 reais per dollar. Pakistan rupee was -0.09% weaker at 105.5717. Vietnamese dong was +0.12% stronger at 21060. Mexican peso was +0.75% stronger today, when it traded at 13.3602 pesos per dollar by the close of business today. Chinese yuan was stronger +0.02%, trading at 6.0472. Argentine peso was -0.02% weaker, trading at 8.0031 pesos per dollar. Tags: foreign exchange rates Thailand Rice Farmers in North Support Populist Rice Mortgage Program Jan 27, 2014 While some farmers, mostly from Thailand‟s southern parts, have threatened protests against delay in payments under the rice mortgage program, rice farmers in the northern and northeastern parts of Thailand continue to support the ousted government led by Yingluck Shinawatra.According to local sources, rice farmers in 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
  • northern and northeastern parts of Thailand are waiting for payments for their pledged paddy rice for months now, but they do not blame the caretaker government for the delays. Farmers say that protests and the subsequent dissolution of the parliament in late 2013 prevented the government from clearing their dues on time. Local sources say that most of the rice farmers in the northern and northeastern parts of Thailand will not participate in anti-government protests next week as planned by farmers in other regions.The rice mortgage program was launched in 2011 to help improve rice farmer‟s income in Thailand. However, the program caused an artificial increase in Thai rice prices and ran into losses. Opposition parties claim the program failed due to lack of transparency and corruption, and Yingluck Shinawatra is likely to face corruption charges in the rice mortgage program after elections on February 2, 2014.Last week, the National Rice Committee headed by Yingluck Shinawatra, decided to discontinue the rice mortgage program from March 2014 to avoid further losses. However, Yingluck Shinawatra will be under pressure to continue the program if she returns to power after fresh elections next month. Tags: Thailand rice mortgage program Africa Business Conglomerate to Invest $300 Million to Boost Nigeria Rice Production Jan 27, 2014 A large business conglomerate in Africa is planning to invest N50 billion (around $300 million) in Nigeria's rice production to help the country achieve self-sufficiency in rice.The president of the business conglomerate says that the Nigerian government supports investment in agriculture, and the company‟s investment in rice production in Nigeria will boost local rice production in the next few years and end the country's dependence on imports.Nigeria is struggling to achieve self-sufficiency in rice production. The government plans to ban rice imports completely in 2015, but farmer representatives say that a complete rice ban is unfeasible as local production cannot meet consumption demand. There are also concerns that Nigerian farmers cannot produce commercial quality rice.According to the USDA, Nigeria‟s rice imports are estimated to reach around 3 million tons in 2013-14. Nigeria‟s rice production in 2013-14 is expected to reach around 2.7 million tons, against an estimated consumption of around 6 million tons. Tags: Nigeria rice production. Nigeria rice imports Maldives Tenders to Buy 9,000 Tons of Parboiled Rice Jan 27, 2014 Maldives is seeking to purchase 9,000 tons of parboiled rice in an international tender. The last date for submission of applications is February 27, 2014. According to trade sources, the parboiled rice can be sourced 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
  • from the U.S., the U.A.E, Australia, Canada, Turkey, Pakistan, India, Indonesia, Thailand, Malaysia, Philippines, Singapore, Sri Lanka, Europe or South America. Tags: Rice tender, Maldives rice imports Oryza Overnight Recap – Chicago Rough Rice Futures Begin the Week Slightly Lower as Bearish Technical Indicators Drive Prices Direction Jan 27, 2014 Chicago rough rice futures for March delivery are currently paused 1.5 cents per cwt (about $0.33 per ton) lower at $15.410 per cwt (about $340 per ton) as of 8:00am Chicago time. The other grains are seen mostly higher this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.2% higher, wheat was paused about 0.5% higher, and corn is noted about 0.1% lower.U.S. stock index futures pointed to a gently positive open on Wall Street on Monday, ahead of the busiest week of fourth quarter earnings season. Over 130 S&P 500 companies will report this week. According to Deutsche Bank, about three quarters of S&P companies have beaten earnings per share (EPS) consensus estimates so far, and over two-thirds have topped sales estimates. Meanwhile, economic data out on Monday includes new home sales for December, due at 10 a.m. ET. However, the market's main focus will be on the Federal Reserve's monthly policy meeting, which starts on Tuesday. This will be the last to be chaired by outgoing Chairman Ben Bernanke, and attention will focus on whether he announces another $10 billion tapering off of the central bank's regular bond purchases. U.S. stock index futures are currently trading about 0.4% higher, gold is currently trading about 0.2% lower, crude oil is seen trading about 0.2% higher, and the U.S. dollar is currently trading marginally higher at 8:00am Chicago time. Tags:chicago rough rice futures Asia Rice Quotes Unchanged Today Jan 27, 2014 Asia rice sellers kept their quotes mostly unchanged today. 5% Broken Rice Thai 5% rice (of new crop) is quoted around $435 - $445 per ton, about a $35 per ton premium over Viet 5% rice shown around $400 - $410 per ton. Indian 5% rice is quoted around $405 - $415 per ton, about a $15 per ton premium over Pak 5% rice quoted around $390 - $400 per ton. 25% Broken Rice Thai 25% rice (of new crop) is quoted about $390 - $400 per ton, about a $15 per ton premium over Viet 25% rice shown around $375 - $385 per ton. 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 25% rice is quoted about $350 - $360 per ton, about a $5 per ton premium over Pak 25% rice quoted around $345 - $355 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $455 - $465 per ton. Indian parboiled rice is quoted around $395 - $405 per ton, about a $5 per ton discount to Pak parboiled rice quoted around $400 - $410 per ton. 100% Broken Rice Thai broken rice, A1 Super, of the old crop is quoted around $310 - $320 per ton, about a $45 per ton discount to Viet broken rice shown around $355 - $365 per ton. Indian broken sortexed rice is quoted about $295 - $305 per ton, about a $25 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 Thailand State Council Approves $4 Billion Government Loan; BAAC Revises Lending Packages to Help Farmers Jan 27, 2014 Thailand's State Council has allowed the caretaker government to raise 130 billion (about $4 billion) through loans and bond issues to pay rice farmers, according to local sources.The caretaker government is under pressure to clear delayed payments to rice farmers under the government rice mortgage program. Farmers have extended their payment deadline from January 25 to January 30, 2014 and have threatened to join protestor groups in case of further delay. Last week, a group of 500 farmers submitted a letter seeking a 60% hike in the price promised to them as a fine due to delay in payments. Meanwhile, the Bank of Agriculture and Agricultural Cooperatives (BAAC) revised its lending norms to farmers who have not so far received payments under the government's rice mortgage program. The BAAC on Friday announced the new lending packages to help the farmers struggling to pay their own debts.The BAAC board has agreed to extend loans up to 80% worth of the face value of rice pledged vouchers issued for the rice pledged by farmers, up from the 20% previously extended. It also decided to reduce loan rates from 7% to 3.5%. According to the BAAC executive vice-president, 1.4 million farmers are holding rice vouchers valued about 130 billion baht (around $4 billion). He noted that for around 100,000 farmers, whose payments are delayed under the rice pledging scheme, the bank would extend the repayment deadline for another 6-12 months and also to waive the 3% fine for default on payment. IRRI Trials Show 45% Higher Yield in Flood-Resistant 'Swarna-Sub1' Rice Variety Jan 27, 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
  • Trials on the Indian flood-resistant hybrid rice variety 'Swarna-Sub1' show that the variety can produce 45% higher yield even when it was submerged underwater for 14 to 17 days, compared to „Swarna‟, a rice variety commonly cultivated in eastern India, according to sources. 'Swarna-Sub1' is a flood-resistant variety developed by the Philippines-based International Rice Research Institute (IRRI) in collaboration with Central Rice Research Institute (CRRI) and was released in August 2009. IRRI scientists modified the Swarna variety by introducing gene Sub1 (for submergence) that helps plants survive under water. Recently, the IRRI and the University of California, Berkeley, US, conducted randomized field trials in 128 villages in the eastern Indian state of Odisha to compare yields of Swarna-Sub1 and Swarna. As part of the trials, seeds of the 'Swarna-Sub1' variety were distributed to more than 100,000 farmers for cultivation in rainfed lowlands that are prone to floods in coastal districts of Odisha. Trials show that the 'Swarna Sub1' variety can deliver both efficiency gains through reduced yield variability and higher yield. The study also found that „Swarna Sub1' would benefit marginalized people living in floodprone areas. Tests also show that 'Swarna Sub1' would prove beneficial if grown in 12-14 million hectares of the 44 million rice cultivable land in India where flash floods are common. The variety has also been released in Bangladesh, Nepal and in some Southeast Asian countries. Tags: International Rice Research Institute (IRRI), Central Rice Research Institute (CRRI), University of California, Swarna-Sub1 Oryza Global Rice Quotes January 27th, 2014 Long grain white rice - high quality Thailand 100% B grade 445-455 Vietnam 5% broken 400-410 ↔ India 5% broken 405-415 ↔ Pakistan 5% broken 390-400 ↔ Cambodia 5% broken 450-460 ↔ U.S. 4% broken 585-595 ↔ Uruguay 5% broken 625-635 ↔ Argentina 5% broken 625-635 ↔ Long grain white rice - low quality Thailand 25% broken 390-400 ↔ Vietnam 25% broken 375-385 ↔ Pakistan 25% broken 345-355 ↔ Cambodia 25% broken 425-435 India 25% broken 350-360 ↔ U.S. 15% broken 565-575 ↔ ↔ ↔ 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
  • Long grain parboiled rice Thailand parboiled 100% stxd 455-465 Pakistan parboiled 5% broken stxd 400-410 India parboiled 5% broken stxd 395-405 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% 945-955 ↔ Vietnam Jasmine 555-565 ↔ India basmati 2% broken 1515 -1525 ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 895-905 ↔ Brokens Thailand A1 Super 310-320 ↔ Vietnam 100% broken 355-365 ↔ Pakistan 100% broken stxd 320-320 ↔ Cambodia A1 Super 365-375 ↔ India 100% Broken stxd 295-305 ↔ 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 Contents are published with permission of ORYZA 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