18 march 2014 oryza by riceplus magazine

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18 march 2014 oryza by riceplus magazine

  1. 1. Oryza Afternoon Recap – Chicago Rough Rice Futures Begin the Week on Positive Note  Log in or register to post comments  Print Mar 17, 2014 Chicago rough rice futures for May delivery settled 15 cents per cwt (about $3 per ton) higher at $15.505 per cwt (about $342 per ton). Rough rice futures finished sharply higher today on light follow though buying following a technical turn in the market late last week. The bulls managed to push prices beyond a firm layer of resistance noted in the $15.450-$15.500 per cwt (about $341-$342 per ton) range provided by the 20-day and 50-day moving averages. Today’s move has returned the market to technically bullish territory as prices managed to close above the 20-day moving average. The other grains finished with mixed results today; soybeans closed about 0.2% higher at $13.8850 per bushel; wheat finished about 1.9% lower at $6.8725 per bushel, and corn finished the day about 1.4% lower at $4.8600 per bushel. U.S. stocks rallied on Monday, with the Dow industrials rebounding after a five-day losing streak, as the voting in Crimea passed without violence and after economic reports had U.S. manufacturing output jumping the most in six months in February. On Monday, President Barack Obama imposed sanctions against Russian officials after voters in Crimea on Sunday endorsed separating from Ukraine to join Russia. The U.S. announcement came after the European Union announced travel bans and asset freezes on 21 people. Economic reports had U.S. industrial output rising in February; up 0.8%, and better than the 0.1% rise anticipated by economists polled by Reuters. And, the March Empire State Factory Index climbed to 5.61 in March after a reading of 4.48 the prior month. Stocks maintained gains after a monthly measure of home builder confidence rose a tepid 1 point to 47 in March, with the latest reading still below 50, the line between positive and negative on the survey released by the National Association of Home Builders. After a 204-point jump, the Dow Jones Industrial Average was lately up 160.68 points, or 1%, to 16,226.35. The S&P 500 added 16.13 points, or 0.9%, to 1,857.26, with technology leading gains that included all 10 of its major industry groups. The Nasdaq climbed 40.96 points, or 1%, to 4,286.35. Gold is trading about 0.8% lower, crude oil is seen trading about 0.9% lower, and the U.S. dollar is seen trading about 0.1% lower at about 1:00pm Chicago time.
  2. 2. Friday, there were 287 contracts traded, down from 309 contracts traded on Thursday. Open interest – the number of contracts outstanding – on Friday decreased by 4 contracts to 7,998. Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market - See more at: http://oryza.com/news/cbot/oryza-afternoon-recap-%E2%80%93-chicago-rough-rice- futures-begin-week-positive-note#sthash.berI5Nwj.dpuf Oryza U.S. Rough Rice Recap – Cash Prices Continue to Hold Steady, Analysts are Hopeful About Iraq Tender  Log in or register to post comments  Print Mar 17, 2014 As of today, old crop offers could still be found $15.55-$16.11 fob farm (about $343-$355 per ton) for nearby shipment however as you get closer to May and June offers increase substantially. Meanwhile, there were 59 new receipt registrations late on Friday which brought the total amount of receipts on the exchange to 399 (36,309 tons). Bids from larger mills increased today to around $15.50 per cwt (about $342 per ton) for March-April delivery while bids for exporters were unchanged near $15.55 per cwt (about $343 per ton), for the same delivery period, and although there are still reports of smaller mills bidding around $16.10- $16.25 per cwt (about $355-$358 per ton) for prompt delivery. In other news, many analyst are hopeful that the U.S. will get in on part of the action of the most recent Iraqi tender despite being more than $15.00 per ton greater than the most attractive offer given that the U.S. decreased their offer by close to $30 per ton from their offer on the last tender coupled with the fact that there are logistical issues facing other origins offering on this tender. Tags: U.S. rice prices, U.S. rice market - See more at: http://oryza.com/news/us-rough-rice/oryza-us-rough-rice-recap-%E2%80%93-cash- prices-continue-hold-steady-analysts-are-hopeful#sthash.nmDzDLQL.dpuf Egypt’s Plan to Accept Imported Rice for Subsidy Program May Free Up Expensive Rice for Exports
  3. 3.  Log in or register to post comments  Print Mar 17, 2014 The Egypt government will accept offers to buy imported rice for its food subsidy program in the next local tender by the General Authority for Supply Commodities (GASC), according to Reuters. Egyptians traditionally consume medium grain rice rather than long grain rice. However, medium grain rice is more expensive. The government buys medium grain rice for around $420 per ton and sells it in the domestic market for around $220 per ton under the subsidy program, compared to export prices of around $900 per ton, according to Reuters. Sources say that the move by the government to accept imported rice for the subsidy program is a test to see the acceptability of imported long grain rice. It may help the government to allow exports of the more expensive medium grain rice grown in Egypt in future, say sources. Egypt has an exportable surplus of around 800,000 – 850,000 tons of rice, but rice exports are banned to help control prices and to ensure supplies for the country’s subsidy program. Recently, Egypt’s new supplies minister said that there is a demand to resume exports to help revive the country’s economy and to prevent illegal rice exports. Tags: Egypt rice exports, Egypt rice export ban - See more at: http://oryza.com/news/rice-news/egypt%E2%80%99s-plan-accept-imported-rice- subsidy-program-may-free-expensive-rice-exports#sthash.IhhE3EsC.dpuf Japan Announces Tender to Buy 32,753 Tons of Rice  Log in or register to post comments  Print Mar 17, 2014 Japan announced a tender for March 20 to buy 32,753 tons of non-glutinous milled long grain rice, including: 6,000 tons of Thailand origin 26,753 tons of global origin The rice must be shipped in July-August. Tags: Japan rice tender
  4. 4. - See more at: http://oryza.com/news/tenders/japan-announces-tender-buy-32753-tons- rice#sthash.DQIiJBi9.dpuf Vietnam Exports 787,786 Tons of Rice in January 1 – March 13, 2014  Log in or register to post comments  Print Mar 17, 2014 Vietnam exported about 787,786 tons of rice during January 1 – March 13, 2014, down about 46% from about 1.45 million tons of rice exported during
  5. 5. the first three months of 2013, according to the Vietnam Food Association (VFA). Average export price during January 1 – March 13, 2014 stands at about $430 per ton (FOB), down about 3% from about $442 per ton recorded during January 1 – March 31, 2013. Vietnam exported about 152,283 tons of rice in March 1- 13, 2014, down about 78% from about 706,483 tons rice exported in full month of March 2013, and down about 54% from about 330,501 tons rice exported in February 2014. Average export price in March 2014 so far stands at about $429 per ton, which is down about 2% from year ago levels and down about 4% from February 2014. Vietnam's rice exports during March 1-13, 2014 include: 78,313 tons of 4% - 10% broken rice (about 51.4% of total rice exports); 29,722 tons of aromatic rice (about 19.5% of total rice exports); 19,806 tons of Nep (glutinous) rice (about 13% of total rice exports); and 12,750 tons of 25% broken rice (about 8.4% of total rice export so far in March 2014). Asia is the major destination for Vietnam rice so far in March 2014, accounting for about 136,816 tons or almost 90% of Vietnam’s total rice exports in the month. Countries in the Americas account for about 8,129 tons of rice exports (equivalent to about 5% of total rice exports so far in March). Vietnam also exported 3,100 tons of rice to Africa, about 2,100 tons of rice to Europe, about 1,913 tons of rice to the Middle East and about 225 tons of rice to Australia so far this month, the VFA says. Tags: Vietnam rice exports - See more at: http://oryza.com/news/rice-news/vietnam-exports-787786-tons-rice-january-1- %E2%80%93-march-13-2014#sthash.s3bnssYO.dpuf Oryza Rice Currency Analysis for Today – Currencies Little Changed; Mexico Peso Falls 0.5%  Log in or register to post comments  Print Mar 17, 2014 U.S. dollar index was down -0.08% from the open today, when it traded at 79.384 at the close. Euro was stronger +0.06% by the close, trading around 1.3923 by end of day, after trading between an intraday high of 1.3948 and low of 1.3879. Thai baht was stronger +0.17%, trading at 32.226 at the close of business. Indian rupee was unchanged at 61.1900.
  6. 6. Brazilian real was -0.07% weaker at the close of trading today, trading at 2.3482 reais per dollar. Pakistan rupee was -0.07% weaker at 99.0950. Vietnamese dong was +0.04% stronger at 21093. Mexican peso was stronger +0.32% today, when it traded at 13.1681 pesos per dollar by the close of business. Chinese yuan was weaker -0.45%, trading at 6.1775. Argentine peso was weaker -0.29% at 7.9249 pesos per dollar. Tags: foreign exchange rates - See more at: http://oryza.com/news/fx/oryza-rice-currency-analysis-today-%E2%80%93- currencies-little-changed-mexico-peso-falls-05#sthash.9bA80UTz.dpuf Vietnam Hopes to Export 4.27 Million Tons of Rice by May 2014  Log in or register to post comments  Print Mar 17, 2014 Vietnam's Ministry of Industry and Trade (MOIT) is targeting rice exports to reach around 4.27 million tons by May 2014, and says that lower export prices will help boost rice exports in the next few months, according to local sources. The MOIT says that the government has signed contracts to export about one million tons of rice until May 2014. It is also keen to increase exports to China this year and is planning to export rice to China via land borders to curb the illegal exports through the borders. Illegal rice exports through borders in the first two months of this year are three times the legal exports to China, according to the MOIT. Last week, the Vietnam Food Association (VFA) lowered the minimum export price (MEP) for low grade rice (25% - 100% brokens) to $355 per tons from the previous floor price of $365 per ton to help Vietnamese rice remain competitive against Thai rice, and with an eye on the 800,000 tons rice tender that the Philippines may announce soon. The VFA says that Vietnam lost many contracts in February 2014 due to its high price range of $405-$420 per ton. Vietnamese exporters have cut
  7. 7. prices not to lose any more contracts, adds the VFA. Exporters may suffer losses due to the price cut but Vietnamese rice can now compete with that of Thailand, India and Pakistan, it said. The current export price of Vietnamese rice is lowest since 2013, according to the VFA. Vietnam seems to be willing to take losses now to gain or maintain market share; however, dropping prices too low, to below profitability, may backfire, causing producers to reduce rice production in the future, something that could send domestic prices higher later on, say sources. Vietnam exported about 787,786 tons of rice between January 1 and March 13, 2014, down about 46% from about 1.5 million tons of rice exported during the first three months of 2013, according to the VFA. Average export price (FOB) during the period stands at $430 per ton, which is down about 3% from about $442 per ton recorded between January 1 and March 31, 2013. The USDA estimates Vietnam to export about 7.5 million tons in 2014, up about 10% from an estimated 6.8 million tons in 2013. Tags: Vietnam rice exports, Vietnam rice prices - See more at: http://oryza.com/news/rice-news/vietnam-hopes-export-427-million-tons-rice-may- 2014#sthash.sOYwU8F5.dpuf Pakistan Rice Exporters Face Losses Due to Sharp Appreciation of Rupee Against USD  Log in or register to post comments  Print Mar 17, 2014
  8. 8. Pakistan rice exporters have lost millions of rupees in the last few weeks due to the sharp appreciation of the rupee against the US dollar since February 28, 2014, according to the Express Tribune. The Pakistan rupee has appreciated by about 6% from around Rs.104.3 per dollar to around Rs.97.96 between March 1 and March 17, 2014. The State Bank of Pakistan says the appreciation is due to an inflow of around $523 million into the country in the form of Foreign Direct Investment (FDI) during the first seven months of this fiscal year 2013-14 (July – June). Selling pressure on dollar is adding to its depreciation against the Pakistani rupee. Pakistan rice exporters say their shipments could decline if the rupee continues to appreciate against the dollar. Several exporters had booked export orders at Rs.107 per USD dollar in December, 2013 but when receipts arrive, they would be exchanged at Rs.97 against the dollar, which suggests a loss of about $130 to $135 per ton. Exporters say they could lose buyers if they increase prices to recoup losses on account of the fall in dollar value. At
  9. 9. the old exchange rate, Pakistan rice exporters were selling basmati rice to international buyers in the range of $1,300 to $1,350 per ton, according to local sources. Rice exporters have temporarily suspended their activities since the beginning of March 2014 and are waiting for the rupee-dollar exchange rate to stabilize. They have urged the government to intervene in the foreign exchange market and evolve a strategy to stabilize the rupee at a rational level. According to data from the Pakistan Bureau of Statistics, Pakistan's total rice exports (including basmati and non-basmati) during the first seven months of the current fiscal year stood at about 1.76 million tons, down about 1.4% from about 1.79 million tons during the same period in the previous fiscal year. Tags: Pakistan rice exports, Pakistan rupee - See more at: http://oryza.com/news/rice-news/pakistan-rice-exporters-face-losses-due-sharp- appreciation-rupee-against-usd#sthash.HSgUGQng.dpuf Brazil Rice Lowest Offer in Iraq Rice Tender for 30,000 Tons  Log in or register to post comments  Print Mar 17, 2014 Brazil origin rice was offered the lowest in the international tender from Iraq to buy at least 30,000 tons of long grain rice from the U.S. and South America which closed this week. According to Reuters, Brazil origin rice was offered lowest at $703 per ton c&f free out (ciffo). Argentine rice was offered lowest at $717 per ton ciffo, Uruguay rice was also offered at $717 per ton ciffo, and U.S. rice was offered lowest at $718.25 per ton ciffo. Tags: Iraq rice tender - See more at: http://oryza.com/news/tenders/brazil-rice-lowest-offer-iraq-rice-tender-30000- tons#sthash.tsBFlT0A.dpuf Thailand Rice Sellers Lower Some of Their Quotes; Vietnam Rice Sellers Increase Most Their Quotes Today
  10. 10.  Log in or register to post comments  Print Mar 17, 2014 Thailand rice sellers lowered their quotes for 5% broken rice by about $5 per ton to about $400 - $410 per ton today. Vietnam rice sellers increased most of their quotes by about $5 - $10 per ton. Pakistan rice sellers kept their quotes mostly unchanged. India rice sellers are out today due to a national holiday. 5% Broken Rice Thai 5% rice (of new crop) is quoted around $400 - $410 per ton, down about $5 per ton from Friday and about a $15 per ton premium over Viet 5% rice shown around $385 - $395 per ton, up about $10 per ton from Friday. Indian 5% rice was last quoted around $420 - $430 per ton, about a $20 per ton premium over Pak 5% rice quoted around $400 - $410 per ton. 25% Broken Rice Thai 25% rice of the old crop is quoted about $350 - $360 per ton, about a $5 per ton premium over Viet 25% rice shown around $355 - $365 per ton, up about $5 per ton from Friday. Indian 25% rice was last quoted around $360 - $370 per ton, about a $5 per ton premium over Pak 25% rice quoted around $355 - $365 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $405 - $415 per ton. Indian parboiled rice was last quoted around $405 - $415 per ton, about $15 per ton discount to Pak parboiled rice quoted around $420 - $430 per ton. 100% Broken Rice Thai broken rice, A1 Super, of the old crop is quoted around $305 - $315 per ton, about a $30 per ton discount to Viet broken rice shown around $335 - $345 per ton, up about $5 per ton from Friday. Indian broken sortexed rice was last quoted around $300 - $310 per ton, about a $30 per ton discount to Pak broken sortexed rice quoted around $330 - $340 per ton. Tags: Asia rice quotes, India rice quotes, Pakistan rice quotes, Vietnam rice quotes, Thailand rice quotes SimilarStories... Vietnam Rice Sellers Lower Most of Their Quotes; Pakistan Rice Sellers Increase Some of Their Quotes Today - April 7th, 2014 Thailand Rice Sellers Increase Some of Their Quotes; Vietnam Rice Sellers Lower Some of Their Quotes Today - April 4th, 2014
  11. 11. Vietnam Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged - April 3rd, 2014 Vietnam Rice Quotes Mixed Today; Other Asia Rice Quotes Unchanged - April 2nd, 2014 Thailand, Vietnam Rice Sellers Increase Some of Their Quotes Today - April 1st, 2014 Thailand Rice Quotes Mixed Today; Vietnam, Pakistan Rice Sellers Increase Some of Their Quotes - March 31st, 2014 - See more at: http://oryza.com/news/rice-news/thailand-rice-sellers-lower-some-their-quotes- vietnam-rice-sellers-increase-most-1#sthash.rjdRBK16.dpuf  s  CBOT  FX  OP-ED  Press Releases  Research & Development  Grain Of Interest Searchform Search Thailand Government Sells Packaged Rice to Raise Funds to Pay Rice Farmers  Log in or register to post comments  Print Mar 17, 2014 Thailand's Ministry of Commerce has launched the "Thai Rice Helps Thai Farmers" campaign under which it aims to sell rice packed in bags to raise funds to help pay farmers. According to local sources, the commerce ministry is planning to sell about 2,000 tons of rice in 5-kilogram bags, 15-kilogram packs and 50-kilogram packs mostly to hospitals, government offices and private organizations. The program is aimed to raise funds quickly to pay farmers, according to the Deputy Commerce Minister. Meanwhile, rice exporters in Thailand are worried about plunging prices. On Friday, the prices of common grade 5% Thai white rice declined to around $410 per ton, down about 2% from previous week's $420 per ton. "The Thai
  12. 12. government said clearly that it will try to sell more and more rice to get money. The market has factored that in and buyers have not rushed to buy," said the President of the Thai Rice Exporters Association (TREA). Last week, Thailand government sold about 517,000 tons of rice in a direct auction and another 730,000 tons of rice to exporters. It has scheduled a sale of about 300,000 tons on March 26, 2014 through the Agricultural Futures Exchange of Thailand (AFET). Local sources say the government is keen to sell the same amount of rice from its stockpiles every month. Today, the Deputy Prime Minister and the Commerce Minister will meet to review the Ministry's strategy to sell the stockpiled rice. The Ministry will seek Cabinet's approval to extend the Memorandum of Understanding (MoU) with the Philippines, which will entitle Thailand to participate in the Philippines rice auction, which is scheduled in April 2014. The MoU has to be renewed every four years. The Philippines is likely to invite tenders to buy 800,000 tons of rice soon. Tags: Thailand rice exports, Thailand rice mortgage program - See more at: http://oryza.com/news/rice-news/thailand-government-sell-packaged-rice-pay-rice- farmers#sthash.oXL1vaaM.dpuf Philippines to Import One Million Tons of Rice in 2014 Under Government-to-Government Deals  Log in or register to post comments  Print Mar 17, 2014 The targeted one million tons of rice imports this year will be under government-to-government (G-2-G) deals, according to the Philippines Department of Agriculture (DA). The Philippines recently announced that it is planning to import about 800,000 tons of rice to control prices and maintain buffer stocks. The DA says that this will be part of the targeted one million tons of rice imports this year. The inter-agency committee of the National Food Authority (NFA) will give the details of the importation plan this week after receiving production data on the rice harvest for the dry season cropping, according to the Agricultural Secretary. The DA says that the importation would be through the G-2-G deals despite the huge volume of rice needed to be imported before the start of the lean season (July-September). Currently, the Philippines has G-2-G purchase agreements with Cambodia, Thailand and Vietnam. The government may
  13. 13. also import 200,000 tons of rice that were part of the 500,000 tons of last year's emergency imports under G-2-G deals. The Agricultural Secretary also says that the government is continuing its rice self-sufficiency program, despite the decision to import rice. He says that many regions in the country have registered production increases in this cropping season compared with last year, and the country's paddy rice production is likely to be around 19 million tons in 2013-14. According to the USDA, the Philippines milled rice production in 2013-14 is estimated at around 11.6 million tons (about 18.5 million tons, unmilled rice), against a consumption of around 12.8 million tons. The USDA estimates the Philippines to import 1.4 million tons of rice in 2014, while the UN's FAO estimates it to import 1.2 million tons of rice. Tags: Philippines rice imports - See more at: http://oryza.com/news/rice-news/philippines-import-one-million-tons-rice-2014- under-government-government-deals#sthash.rvi1soFh.dpuf Philippines to Import One Million Tons of Rice in 2014 Under Government-to-Government Deals  Log in or register to post comments  Print Mar 17, 2014 The targeted one million tons of rice imports this year will be under government-to-government (G-2-G) deals, according to the Philippines Department of Agriculture (DA). The Philippines recently announced that it is planning to import about 800,000 tons of rice to control prices and maintain buffer stocks. The DA says that this will be part of the targeted one million tons of rice imports this year. The inter-agency committee of the National Food Authority (NFA) will give the details of the importation plan this week after receiving production data on the rice harvest for the dry season cropping, according to the Agricultural Secretary. The DA says that the importation would be through the G-2-G deals despite the huge volume of rice needed to be imported before the start of the lean season (July-September). Currently, the Philippines has G-2-G purchase agreements with Cambodia, Thailand and Vietnam. The government may also import 200,000 tons of rice that were part of the 500,000 tons of last year's emergency imports under G-2-G deals. The Agricultural Secretary also says that the government is continuing its rice self-sufficiency program, despite the decision to import rice. He says that many regions in the country have registered production increases in this
  14. 14. cropping season compared with last year, and the country's paddy rice production is likely to be around 19 million tons in 2013-14. According to the USDA, the Philippines milled rice production in 2013-14 is estimated at around 11.6 million tons (about 18.5 million tons, unmilled rice), against a consumption of around 12.8 million tons. The USDA estimates the Philippines to import 1.4 million tons of rice in 2014, while the UN's FAO estimates it to import 1.2 million tons of rice. Tags: Philippines rice imports - See more at: http://oryza.com/news/rice-news/philippines-import-one-million-tons-rice-2014- under-government-government-deals#sthash.rvi1soFh.dpuf

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