7th february,2014 daily oryza exclusive rice newsletter by riceplus magazine
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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 ...

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).
Share /contribute your rice and agriculture related research write up with Riceplus Magazine to riceplus@irp.edu.pk , mujahid.riceplus@gmail.com
For Advertisement & Specs mujahid.riceplus@gmail.com

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7th february,2014 daily oryza exclusive rice newsletter by riceplus magazine Document Transcript

  • 1. 7th February, 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
  • 2. 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…                  India Can Produce 1.5 Million Tons of Rice Bran Oil, But Lacks Demand, Says Solvent Extractor's Association of India Philippines Opens Private Sector CSQ Rice Imports of 163,000 Tons from February 1, 2014 Rice SPIKE Gene Research Aims to Boost Global Food Security, Says IRRI Scientist Asia Rice Quotes Unchanged Today IRRI Developing ‘3-in-1’ Climate-Resilient Rice Variety Oryza Quick Glance at World News Cancellation of China Deal Won’t Affect Private Exports to China, Says Thai Rice Exporters Association Philippines Malacañang Palace Urges for Cooperation of Courts, Legislature to Curb Smuggling Oryza Overnight Recap – Chicago Rough Rice Futures Higher Overnight on Impressive Export Sales Results Oryza Quick Glance at MDA Rice Crop Weather Update Protectionism Gives Rise to Rice Smuggling, Corruption, Says Philippines Economics Professor USDA Post Increases Turkey MY2013-14 Rice Import Estimate by 18% to 330,000 Tons USDA Post Increases Mexico MY 2013-14 Paddy Rice Production Estimate to 196,000 Tons Oryza Afternoon Recap – Chicago Rough Rice Futures Make Slight Gain on Strong Export Sales Report Oryza Rice Currency Analysis for Today – Brazil Real Up 0.9% Oryza U.S. Rough Rice Recap – Market Unchanged as IGB Favors SA Origin over US; USDA Reports Huge Export Sales Oryza Global Rice Quotes 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
  • 3. NEWS DETAILS: India Can Produce 1.5 Million Tons of Rice Bran Oil, But Lacks Demand, Says Solvent Extractor's Association of India Feb 06, 2014 India has the potential to produce 1.5 million tons of rice bran oil annually, but there is insufficient demand for the oil in the domestic market and bulk exports of edible oil are banned, says the Solvent Extractor's Association of India (SEA).According to the SEA, India currently produces about 900,000 tons of rice bran oil, about 75% of the total global production of 1.2 million tons. India is the world’s largest rice bran oil producer followed by Japan (70,000 tons), Thailand (60,000 tons) and China (50,000 tons).Of the 900,000 tons of oil produced, only 300,000 is consumed as edible oil in India, while the remaining is blended with other oils or used as other food items. India currently imports around 10 million tons of edible oil including palm oil, soybean oil and sunflower oil yearly spending about Rs.600 billion (around $9.6 billion). India could reduce edible oil imports by investing in rice bran oil extractors and encouraging rice millers to sell the rice bran to the oil industry, the SEA says. India produces 9 million tons of rice bran yearly but only 5 million tons is processed to extract oil and the remaining is used as cattle feed.However, the SEA Executive Director says that the country's rice bran oil production is increasing by 50,000 tons yearly and is expected to increase if the demand increases. The growth in rice bran oil consumption in India in the last four to five years is around 20%-25%. Demand for Indian rice bran oil is also increasing. Thailand and Japan have shown interest to import rice bran oil from India but Indian government does not allow bulk exports of edible oil. The SEA Executive Director says that if the ban on exports of rice bran oil is lifted, India can export around 25,000 tons of rice bran oil per year.India is the second largest producer of rice in the world and its paddy rice production has been steadily increasing from 125 million tons in the MY 2004-05 to 157 million tons in the MY 2012-13. According to the USDA, India is expected to produce about 155 million tons of paddy rice in the MY 2013-14. Tags: India rice bran oil production Philippines Opens Private Sector CSQ Rice Imports of 163,000 Tons from February 1, 2014 Feb 06, 2014 The Philippines’ rice buying agency National Food Authority (NFA) has begun accepting applications from private importers for the import 163,000 tons of well-milled rice from Thailand, India, China and Australia, 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
  • 4. under the 2014 Minimum Access Volume (MAV) - Country Specific Quota (CSQ) program from February 1, 2014.The NFA says private importers can import rice from the four specified source countries: Thailand (98,000 tons), India (25,000 tons), China (25,000 tons), and Australia (15,000 tons) under CSQ. Higher allocation to Thailand is intended to take advantage of current low prices of Thai rice, the NFA chief told local sources. However, other rice exporters such as Vietnam, Cambodia and Myanmar are not in the list. NFA says, “Any importations other than the four countries shall be prohibited.”The NFA has invited interested NFA licensed rice importers to participate in the allocation process, which would be on a first come first serve basis. Participants will have to pay a non-refundable processing fee of P20,000 (about $440) to the NFA.Each importer would be allowed to import a minimum of 2,000 tons and a maximum of 5,000 tons throughout 2014. Under the MAV quota, importers have to pay 40% tariff, while tariffs are around 50% for imports outside the MAV. Annually, about 350,000 tons of rice imports are allowed by the Philippines under MAV. Rice SPIKE Gene Research Aims to Boost Global Food Security, Says IRRI Scientist Feb 06, 2014 SPIKE gene can boost rice yields in Asia and Southeast Asia significantly and contribute to global food security in coming years, according to Dr. Tsutomu Ishimaru, Plant Breeder of International Rice Research Institute (IRRI)-Japan Collaborative Research Project.The SPIKE gene is derived from Indonesian landrace, and helps improve yield of rice plants significantly. Dr. Tsutomu Ishimaru says he has achieved yield improvement of around 13-36% compared to IR64 and IRRI146. The SPIKE gene version of IR64 is being tested in several Asian countries including Laos, Indonesia (Java island), India (Tamil Nadu) and Japan. Tests are going on to improve yield in popular rice varieties in South Asia and Southeast Asia using the SPIKE gene. Dr. Tsutomu Ishimaru says, “The SPIKE breeding is still in the process for BR11 (popular variety in Bangladesh), Swarna (popular variety in Eastern India), TDK1 (popular variety in Laos), Ciherang (popular variety in Indonesia) and PSBRc18 (popular variety in the Philippines). It will take a few years to finish the transfer of SPIKE to these five varieties.” Though it hasn’t been tested yet, the taste, milling quality and cooking properties of traditional rice varieties (such as basmati fragrant rice) are likely to remain same with the introduction of the SPIKE gene through conventional breeding. Increase in yield would also translate into more profit for rice farmers and help in the improvement of the economy of South Asia and Southeast Asia.Rice is a staple food for almost half of the global population which is growing in Southeast Asia and South Asia. Rice consumption is also increasing in Africa. It is estimated that by 2035, a 26% increase in rice production will be essential to feed the growing population, and according to the International Grains Council (IGC), global rice consumption will surpass rice production in just three years. Dr. Tsutomu Ishimaru hopes SPIKE research will spread to several rice growing countries in future and contribute to global food security.The IRRI-Japan Collaborative Research Project is supported by the Ministry of Foreign Affairs and the Ministry of Agriculture, Forestry and Fisheries of Japan. 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
  • 5. The Japan International Research Center for Agricultural Sciences (JIRCAS) is a key partner of the Global Rice Science Partnership (the CGIAR Research Program on Rice), IRRI says. Asia Rice Quotes Unchanged Today Feb 06, 2014 Thailand, India and Pakistan rice sellers kept their quotes mostly unchanged today. Vietnam rice sellers are out today due to a holiday. 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 last shown around $400 - $410 per ton. Indian 5% rice is quoted around $410 - $420 per ton, about a $20 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 last shown around $375 - $385 per ton. Indian 25% rice is quoted about $355 - $365 per ton, about a $10 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 $10 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 $45 per ton discount to Viet broken rice last 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 IRRI Developing ‘3-in-1’ Climate-Resilient Rice Variety Feb 06, 2014 The Philippines-based International Rice Research Institute (IRRI) is developing a new variety of rice, "3-in1"climate tolerant rice, which can tolerate flooding, a prolonged dry season, and saltiness near coastal areas, according to local sources.According to the IRRI, the new variety will be a climate-resilient variety and help mitigate climate change and sustain agricultural productivity in rice-producing countries. The IRRI first developed the “2-in-1” variety, which could tolerate flooding and drought situations. 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
  • 6. Flood resistant variety "IR 64 Sub1" was derived from an Indian rice variety. Scientists isolated the SUB 1A gene and identified the genetic code that controls submergence tolerance. The SUB 1A gene activates when the plant is submerged, making it dormant and conserving energy until the floodwater recedes. The "IR 64 Sub1" can tolerate flooding for 14 days and still can produce an average yield of 6.4 tons per hectare.The droughttolerant variety "Sahod ulan" was derived from the Indian variety "Sahbhagi Dhan" and the Nepal variety "Sookha Dhan". The IRRI scientists identified quantitative trait loci (QTLs) genes which give the droughttolerance and improve yield. These are activated in popular varieties like IR64 to produce better yields even in drought conditions. Now the IRRI is in its last stage of developing the "3-in-1" variety. It is developing seeds that have genes that can sustain climatic changes and yet provide good yields. IRRI's Deputy Director General says IRRI is working closely with the Philippines Department of Agriculture and the Philippine Rice Research Institute (Philrice) to help the government attain its rice self-sufficiency target. The IRRI promises technology support to the Philippines to accelerate high-yielding varieties, he adds. Tags: 3-in-1, International Rice Research Institute (IRRI) Oryza Quick Glance at World News Feb 06, 2014 Financial Times *U.S. President Barack Obama has been drawn into the increasingly tense relations between America’s two closest allies in the region, Japan and South Korea, even before he has officially revealed his planned Asia trip in April. *Tensions between Iran’s hardliners and the centrist government of Hassan Rouhani erupted publicly on Wednesday when the state broadcaster blocked the president’s live address to the nation for an hour but backtracked after the president took the row to Twitter. *In a slap on the back for the brace of structural reforms passed by Mexico last year, Moody’s has upgraded the Aztec nation’s sovereign debt by one notch, giving it an A-grade rating for the first time in history. The rating agency said the promotion to A3 from Baa1 was motivated by reforms that were expected to “strengthen the country’s potential growth prospects and fiscal fundamentals”. *Google ended its three-year tangle with antitrust regulators on Wednesday, as it reached a deal with Brussels, which critics claimed would cement its dominance of some of the most valuable commercial activity on the web. *Indonesia’s finance minister has joined India’s central bank governor in warning that the U.S. Federal Reserve risks undermining fragile emerging market economies unless it clarifies plans to taper its extraordinary monetary stimulus program. *Water shortages have put the U.S. oil and gas industry on a “collision course” with other users because of the large volumes needed for hydraulic fracturing, according to Ceres, a network of investors that works on 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
  • 7. environmental and social issues. Almost 40% of the oil and gas wells drilled since 2011 are in areas of “extremely high” water stress, group said. *A shutdown of a São Paulo metro line that caused chaos in South America’s largest city on Tuesday evening has been blamed on unidentified “saboteurs”, highlighting growing tensions in the country ahead of the World Cup this year. *Ukraine’s currency fell to the level of 9 to the dollar for the first time since 2009 on Wednesday as the U.S., E.U. and international lenders scrambled to find ways to stabilize the economy if the country resolves its twomonth-old political crisis. Wall Street Journal *Thailand's consumer confidence index slipped to 71.5 in January, a 26-month low, as the country's political impasse continued to drag on sentiment. *Apple Inc. said it never worked with the National Security Agency to create a back-door way for the organization to spy on iPhone users and it was unaware of any program to target its products. *The Obama administration will narrow its controversial drone program in Pakistan to target a short list of high-level terrorists, and aim to end it during the prime minister's current term, senior U.S. officials have told their Pakistani counterparts. *A Mexican Energy Ministry official has taken the helm at Comisión Federal de Electricidad, a state-owned electricity utility that soon will face direct competition from private suppliers under a recent overhaul of energy laws. *Swiss voters on Sunday will decide whether to erect new immigration barriers to the country's European neighbors, with whom this Alpine nation has long enjoyed open borders. *Work to expand the Panama Canal so bigger ships can fit through the 100-year-old waterway has virtually ground to a halt, and the consortium in charge of the construction effort said the project is now on the "brink of failure" after talks broke down between the contractors and Panama's government over who is going to pay for $1.6 billion in cost overruns. *Samsung Electronics Co. signed yet another agreement to safeguard against future litigation risks over technology patents, this time with Cisco Systems Inc. New York Times *Bank of Japan Deputy Governor Kikuo Iwata on Thursday shook off the need for an immediate expansion of monetary stimulus, saying that he saw risks to Japan's economy as relatively small. The BOJ has kept monetary policy steady since April last year, when it pledged to double base money via aggressive asset purchases to accelerate inflation to 2% in roughly two years. *A top U.S. bank regulator plans to tell lawmakers on Thursday that final leverage rules for U.S. banks will incorporate recent revisions to a global capital standard, which likely means tougher requirements for the institutions. *The Iraqi Army is planning to cordon off a key Sunni city now occupied by jihadists so that Sunni tribes can lead the mission to secure it one neighborhood at a time, a senior U.S. State Department official told Congress on Wednesday. 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
  • 8. *Turkey's parliament approved changes to a law regulating use of the Internet late on Wednesday; enabling authorities to block access to web pages for violations of privacy that critics say will limit freedom of speech. *Sony, increasingly better known for its disappointments than gadgets, has issued another massive profit warning, forecasting it will now swing to a net loss of Y110 billion ($1 billion) for the year to March 31 instead of the Y30 billion profit envisioned just over three months ago. *To recap, after years of extending credit to companies that were more well connected than well run, India's banks are recording high bad debts. Public sector banks have the biggest problem, with bad loans at 11.2% of assets, according to Moody's. However, a new framework for dealing with soured loans imposed on banks by the Reserve Bank of India should go some way to soothe the nerves of the Indian banks' bondholders, the credit ratings agency says. Cancellation of China Deal Won’t Affect Private Exports to China, Says Thai Rice Exporters Association Feb 06, 2014 The Thai Rice Exporters Association (TREA) says that China's withdrawal to buy 1.2 million tons of rice from Thailand government will not impact the private sector's exports to China, according to local sources.The TREA says Thailand exported about 300,000 tons of rice to China in 2013 and the entire quantity was through private companies. Recently, China cancelled the deal after Thailand’s National Anti-Corruption Commission (NACC) said that it would probe the China-Thailand government rice deal. The TREA projects Thailand’s rice exports to recover to around 7.5 million tons worth about $4.5 billion in 2014, up around 13.5% from about 6.61 million tons of rice worth $4.1 billion exported in 2013. The TREA President says the government rice stockpiles are expected to increase to about 20 million tons this year and it may take about five to six years to clear the stocks. The government has to release substantial amount of rice from state warehouses to the private sector so that they could supply for exports in this year. The government and the private sector cooperation is needed to win back the rice market, he adds.Thailand's trading partners are concerned over the quality of rice, which has been stored for a long period of time, and that would have a negative impact on prices, the TREA President says. He predicts that the export prices of Thai 5% broken rice, which are currently quoted at about $456 per ton, would reach a low of $370 per ton this year.The government said it would open a tender to sell 400,000 tons of rice from state stocks this week and the Caretaker Commerce Minister confirmed that the sale would be at market prices. Tags: Thailand rice exports, China rice imports, Thailand Rice Exporters Association Philippines Malacañang Palace Urges for Cooperation of Courts, Legislature to Curb Smuggling Feb 06, 2014 The Presidential Communications Operations Office in the Malacañang Palace has urged for greater cooperation between the courts and legislature to curb massive rice smuggling in the country, local sources 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
  • 9. say.Presidential Communications Operations Office Secretary says the courts should act faster on cases filed by the government and the Bureau of Customs (BoC) against smugglers. None of the 157 cases of alleged smuggling filed by the BOC since 2010 have ended in a convicted, he adds. A closer coordination and teamwork among agencies is needed to implement the systematic reforms to curb smuggling, he says. Centralized single reference for valuation information, implementation of a single dispute resolution process for valuation, digitization of every single formal transaction, review of the monitoring of Customs bonded warehouses, revamp of the importer accreditation process and intensified monitoring of sensitive imports are some of the reform measures being targeted.Meanwhile, a Davao judge who ordered release of a shipment seized by the BOC for not having import permit has been sued after a group of farmers filed a case in the Supreme Court. The group filed the complaint against the Davao judge for “grave misconduct” and “knowingly rendering unjust judgment.” The group said in its complaint that the judge exercised a power that he did not have and has encroached upon the BOC's exclusive jurisdiction over seized imports.The complaint refers to a batch of 167 containers of Vietnam rice containing about 3.3 tons of rice in October 2013. The BOC released the shipments following the court's orders. The complaint will undergo investigation in the office of the Court Administrator. Tags: Philippines rice smuggling Oryza Overnight Recap – Chicago Rough Rice Futures Higher Overnight on Impressive Export Sales Results Feb 06, 2014 Chicago rough rice futures for March delivery are currently paused 4 cents per cwt (about $1 per ton) higher at $15.360 per cwt (about $339 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 0.9% higher, wheat was paused about 0.3% higher, and corn is noted about 0.6% higher.U.S. stock index futures pointed to a higher Wall Street open on Thursday, as fewer-than-expected Americans filed for unemployment benefits last week. Initial jobless came in at 331,000, a drop of 20,000 from the prior week. Economists surveyed by Reuters expected 340,000 new claims last week, down from 348,000 in the previous week. Other economic data Thursday had the U.S. trade deficit expanding 12% to $38.7 billion. The Commerce Department report illustrated a broad-based drop after jumping in November, as imports edged higher on increasing consumer demand. Another report had fourthquarter productivity coming in a 3.2%, versus expectations it would fall to 2.5% from 3.0%. U.S. indices ended little changed on Wednesday as investors reacted to a mixed bag of economic data. Private employers added 175,000 jobs in January, slightly below estimates of 180,000, while the services sector rebounded after two months of slower growth. U.S. stock index futures are currently trading about 0.2% higher, gold is currently trading about 0.3% higher, crude oil is seen trading about 1.2% higher, and the U.S. dollar is currently trading about 0.3% lower at 8:00am Chicago time. Tags: chicago rough rice futures Oryza Quick Glance at MDA Rice Crop Weather Update Feb 06, 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
  • 10. Oryza shares some of MDA’s latest rice crop weather updates: Rainfall is likely to increase in the Yangtze valley and South China next week. Planting begins in China next month.Snowfall is likely to build in northern Japan this week.Some rainfall is expected in northern Vietnam this week.Rains are required in Thailand to prevent stress on second season rice crop.Limited rainfall will favor second crop harvest in the Philippines this week.Rainfall will favor rice crop in Java, southern Sumatra, central Kalimantan and Sulawesi regions of Indonesia this week.Weather is expected to be dry in India, Pakistan and Bangladesh this week.Drier weather will allow harvesting activities in Center-South Brazil this week.Rainfall is likely in the southern Delta region of the U.S. this week. For more complete weather information, contact: www.mdaus.com. Protectionism Gives Rise to Rice Smuggling, Corruption, Says Philippines Economics Professor Feb 06, 2014 The benefits of protectionism in rice trade in the Philippines are reaching the wrong people and making the domestic rice sector uncompetitive, according to Professor Emeritus Gerardo P. Sicat of the University of the Philippines School of Economics.Professor Gerardo P. Sicat told local media that rice smuggling and corruption are related to protectionism. The Philippines is dependent on rice imports because local production does not meet consumption needs. oreover, domestic production costs are higher than in other rice exporting countries such as Vietnam. To protect farmers and regulate market prices of rice, the National Food Authority (NFA) used to be the sole legal importer of rice. However, this changed during the Gloria Macapagal Arroyo administration (2001-2010) when private companies were allowed to import rice with quantitative restrictions for each quota holder. However, import quotas were allotted not on the basis of high bidding prices but on their proximity to the NFA or the government in power, Professor Gerardo P. Sicat says.Recent senate hearing shows that quota holders sold their quotas to rice traders at a premium, which eventually led a few traders wresting control of rice imports among themselves. Here protectionism that was supposed to benefit rice farmers went to quota holders and traders, Professor Gerardo P. Sicat says. Moreover, the rice importers were required to pay a 40% tariff on the imported rice, but reports about rice smuggling suggest targeted revenues from rice imports were never fully collected.High tariffs and protectionism weakens the country’s rice sector and strengthens smugglers, Professor Gerardo P. Sicat says. Tags: Philippines rice smuggling USDA Post Increases Turkey MY2013-14 Rice Import Estimate by 18% to 330,000 Tons Feb 06, 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
  • 11. The USDA Post has increased estimates for Turkey's rice imports in MY 2013-14 (September 2013 - August 2014) to 330,000 tons, up about 18% from the official estimate of 280,000 tons due to drought conditions and high domestic prices.According to the USDA, the Turkish Grain Board (TMO) has decided to import more rice and sell their existing stocks in the domestic market due to high prevailing prices. The TMO held four tenders in January 2014. However, few importers participated in the bidding due to concerns over the presence of (Genetically Engineered) GE corn/soy in rice shipments. Two importers are already fighting to clear their names in court following the detection of trace amounts of GE corn/soy in rice shipments from the U.S. in April 2013, the USDA Post says.The Turkey government has allocated 10 billion TL (around $4.5 billion) towards agricultural support in 2014. It also increased the subsidized credit budget for agriculture cooperative and agriculture bank from 227 million TL (around $101 million) in 2002 to 18 billion TL (around $8 billion) in 2013. The government also reduced interest rates on agriculture credit from 59% in 2002 to 8.25% in 2012. According to the USDA Post, Turkey’s rice production is expected to reach around 500,000 tons (basis milled) in the MY 2013-14. The USDA Post lowered its estimates for the country's consumption to 750,000 tons, down from its official estimate of 770,000 tons. However, Turkey's rice exports are expected to reach around 60,000 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
  • 12. tons in MY 2013-14, up about 50,000 tons from official estimate of 10,000 tons. The USDA Post estimates the harvested area for rice at 98,000 hectares during the MY 2013-14. Tags: Turkey rice imports USDA Post Increases Mexico MY 2013-14 Paddy Rice Production Estimate to 196,000 Tons Feb 06, 2014 The USDA Post in Mexico has increased the total rice production estimate for MY 2013-14 (October to September) to 196,000 tons of paddy rice (about 133,000 tons, basis milled), up about 4% from USDA official estimates of 188,000 tons (about 129,000 tons, basis milled) due to higher-than-expected yields in some parts of Mexico. The USDA Post says yields are expected to reach 5.623 tons per hectare in the 2013 crop season, which is slightly higher than yields in the same crop cycle last year. The High Productivity Program implemented by local governments in states such as Veracruz also boosted yields. However, the program will be more effective if production costs decrease. The Chairman of Mexico’s 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
  • 13. National Rice Growers Council says the cost of production is around 18,000 pesos per hectare (about $ 1,364/Ha), but it could be reduced to 15,000 pesos per hectare (about $1,136/Ha) if farmers receive government support in finance, technical assistance, and irrigation. At present, only 20% of total rice production is irrigated, the USDA Post says. Mexico is a net importer of rice. According to the USDA Post, Mexico's rice imports in MY 2013-14 are expected to increase to around 750,000 tons (milled basis), up about 3.5% from around 725,000 tons in MY 2012-13. Rice consumption in MY 2013-14 is estimated to reach around 860,000 tons, up about 3% from around 838,000 tons in the previous year. Tags: Mexico rice production Oryza Afternoon Recap – Chicago Rough Rice Futures Make Slight Gain on Strong Export Sales Report Feb 06, 2014 Chicago rough rice futures for March delivery settled 6.5 cents per cwt (about $1 per ton) higher at $15.385 per cwt (about $339 per ton). Rough rice futures have continued the trend of up one day down the next, which has held each session this week. The bears were unable to push prices below unchanged and the market appears to have confirmed that the low of $15.250 per cwt (about $336 per ton), put in place on Monday afternoon, as a point of technical support. Traders now feel that a reversal is underway and that prices could be in store for a technical bounce in coming sessions. However, today’s gains were limited by nearby resistance at $15.405 per cwt (about $340 per ton) provided by the negatively sloped 10-day moving average. Additionally the market remains in technically negative trading territory, between the lower Bollinger band and the 20-day moving average, a fact that may provide additional headwind to attempts rally. The other grains were mixed today; soybeans closed about 0.7% higher at $13.2575 per bushel; wheat finished about 1.2% lower at $5.8175 per bushel; and corn finished the day about 0.1% lower at $4.4300 per bushel.U.S. stocks advanced after applications for jobless benefits fell; casting a positive light on the labor market and the U.S. economy the day before the government releases its monthly jobs report. Talk from European Central Bank President Mario Draghi helped push up the euro, with one trader saying the 'risk on' trade started after Draghi's comments boosted the currency, which jumped after Draghi said there was no deflation problem. The Dow Jones Industrial Average rallied as much as 168 points, and was lately up 140.96 points, or 0.9%, at 15,581.19, on track for its best session of the year. The S&P 500 rose 16.31 points or 0.9% to 1,767.95, with consumer discretionary leading a broad-based that extended to all but one - telecommunications - of its sectors. The Nasdaq surged 35.75 points, or 0.9%, to 4,047.30. Gold is trading marginally higher, crude oil is seen trading about 0.3% higher, and the U.S. dollar is seen trading about 0.2% lower at about 1:00pm Chicago time.Wednesday, there were 514 contracts traded, down from 606 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday increased by 56 contracts to 8,177. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market Oryza Rice Currency Analysis for Today – Brazil Real Up 0.9% 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
  • 14. Feb 06, 2014 U.S. dollar index was down -0.18% from the open today, when it traded at 81.889 at the close. Euro was stronger +0.42% today by the close, trading around 1.3590 by end of day, after trading between an intraday high of 1.3619 and low of 1.3484. The ECB announced they wouldn’t consider an interest rate cut until at least March. Thai baht was weaker -0.08%, trading at 32.790 at the close of business. Indian rupee was stronger +0.31% at 62.3875. Brazilian real was +0.86% stronger than the open at today’s close, when it ended at 2.3819 reais per dollar. Pakistan rupee was +0.09% stronger at 105.3750. Vietnamese dong was weaker -0.21% at 21105. Mexican peso was +0.10% stronger today, when it traded at 13.2701 pesos per dollar by the close of business today. Chinese yuan was weaker -0.03%, trading at 6.0622. Argentine peso was +0.28% stronger, trading at 7.8777 pesos per dollar. Tags: foreign exchange rates Oryza U.S. Rough Rice Recap – Market Unchanged as IGB Favors SA Origin over US; USDA Reports Huge Export Sales Feb 06, 2014 The U.S. cash market unchanged today after the Iraqi Grain Board decided to pass up on the US origin offer for their latest tender, choosing instead to buy 70,000 tons from Argentina and 30,00 tons from Uruguay which were both offered at much more attractive levels. As of today, old crop offers could still be found as low as $15.55 fob farm (about $343 per ton) although most farmers are looking to net $16.11 per cwt fob farm (about $355 per ton) or higher. Bids from larger mills were unchanged today around $14.85 per cwt (about $327 per ton) while bids for exporters could still be seen near $15.55 per cwt (about $343 per ton), both for February through March delivery, although there were reports of rice trading around $15.85 per cwt (about $342 per ton) delivered barge facility and as high as $16.25 per cwt (about $358 per ton) delivered mill.In the meantime, today the USDA reported that cumulative net export sales for the week ending on January 30th, totaled 147,700 tons, which was more than twice as much as last week and considerably higher than the prior 4-week average.Increases were reported for the following destinations including: 52,800 tons to Mexico, 32,000 tons to Turkey, 21,900 tons to Haiti, 11,000 tons to Ghana, and 7,900 tons to Costa Rica. There were also 19,000 tons sold to unknown destinations for the 2014/15 marketing year.U.S. rice exporters shipped 51,600 tons, which was 6% higher than the previous week but 27% lower than the prior 4-week average. The primary destinations included: 20,400 tons to Turkey, 14,400 tons to Haiti, 3,300 tons to Japan, 2,600 tons to Jordan, and 2,500 tons to Saudi Arabia. Tags: U.S. rice prices, U.S. rice market Oryza Global Rice Quotes February 6th, 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
  • 15. Long grain white rice - high quality Thailand 100% B grade 450-460 ↔ Vietnam 5% broken 400-410 ↔ India 5% broken 410-420 ↔ Pakistan 5% broken 390-400 ↔ Cambodia 5% broken 450-460 ↔ U.S. 4% broken 575-585 ↔ Uruguay 5% broken 625-635 ↔ Argentina 5% broken 625-635 ↔ Long grain white rice - low quality Thailand 25% broken 390-400 ↔ Vietnam 25% broken 375-385 ↔ Pakistan 25% broken 345-355 ↔ Cambodia 25% broken 420-430 ↔ India 25% broken 355-365 ↔ U.S. 15% broken 550-560 ↔ Long grain parboiled rice Thailand parboiled 100% stxd 455-465 Pakistan parboiled 5% broken stxd 405-415 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 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