Russia lifts Pakistan rice import ban

28th Feb., 2014

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TOP Contents - Tailored for YOU
Latest News Headlines…
 European Paddy Quotes Stable, as Milled Rice Indications Advance
 Oryza U.S. Rough Rice Recap – Market Unchnaged, Despite Rebound In Export Sales From Previous
Week
 Russia Lifts Phytosanitary Import Ban on Pakistan Rice
 Acid from Rice Husks Replaces Expensive, Patented Enzyme in Biofuel Production
 Philippines Rice Prices Soar Due to Shortfall in Supply
 Oryza Overnight Recap – Chicago Rough Rice Futures Slightly Higher After Very Dull Overnight Session
and Ahead of First Position Day, March Open Interest Remains above 650
 India Average Wholesale Rice Prices Increase in February 2014
 Thailand, Vietnam Rice Sellers Lower Their Quotes for Fragrant Rice Today; Other Asia Rice Quotes
Unchanged
 Thailand PM Lawyers Seek 15 Days to Respond to Rice Mortgage Program Corruption Charges
 Bolivia 2013-14 Rice Production Hurt by Floods, Says FAO
 India Support Price for Rice Growing Too Fast, Says Central Bank Chief
 Oryza Global Rice Quotes
 Oryza Afternoon Recap – Chicago Rough Rice Futures End with Mixed Results

NEWS DETAILS:
European Paddy Quotes Stable, as Milled Rice Indications Advance

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Feb 27, 2014

European paddy quotes in the week February 11 - February 18 were mostly stable, apart from Spain where
paddy rice quotations were slightly higher, and Romania, where they were slightly lower. Almost all milled rice
quotes in Europe advanced over the same week, according to data from the European Union. SPAIN - Japonica
paddy advanced to 283 euros (about $387) per ton on February 18 from 267 euros (about $ 368) per ton of
February 11. Indica received no quotations on 18 February, while in the week prior it quoted 260 euros (about
$356) per ton. Milled Japonica rice quotes remained almost firm at 544 euros (about $746) per ton, up only 2
euros
(about
$3)
from
a
week
prior.
PORTUGAL - Long A paddy quotations were fixed at 278 euros (about $ 381) per ton, up 2 euros (about $3)
per ton on the week prior. Long B paddy quotes held around 260 euros (about $ 290) per ton. No quotations
were available for milled rice. GREECE – Quotations were stable. Medium paddy slightly increased at 360
euros (about $493) per ton, up 10 euros (about $14) from a week prior. Long paddy remained firm at 450 euros
(about $616) per ton and Indica paddy quoted 240 euros (about $329) per ton. There were no quotations for
milled
rice.
ROMANIA - Japonica paddy prices decreased from 306 euros (about $419) per ton on February 11 to 299 euros
(about $409) per ton on February 18. Indica paddy quotes also declined, from 275.03 euros (about $ 377) per
ton on February 11 to 269 euros (about $ 368) per ton on February 18. As for milled rice, Japonica quotes
increased, reaching 764 euros (about $1,047) per ton on February 18, up 63 euros (about $86) per ton from 701
euros (about $960) per ton on February 11. Indica milled rice decreased 88 euros (about $120) in just one
week: it quoted 585 euros (about $802) per ton on February 11, and it fell to 498 euros (about $682) on
February
18.

BULGARIA - Japonica paddy quotations were firm at 276 euros (about $378) per ton. Japonica milled rice
prices remained unchanged on February 11 and February 18 at 814 euros (about $1,115) per ton.FRANCE - No
quotations for paddy varieties were available in both weeks. As for milled rice, it received no quotations on
February 18; one week prior medium milled rice was quoted 440 euros (about $603) per ton, Long A quoted
560 euros (about $767) per ton, and Long B prices were fixed at 450 euros (about $616) per ton.
Tags: european rice prices

Oryza U.S. Rough Rice Recap – Market Unchnaged, Despite Rebound In Export
Sales From Previous Week

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Feb 27, 2014

As of today, old crop offers were unchanged near $15.55-$16.11 fob farm (about $343-$355 per ton)
depending on where they are located and how quickly they could ship.Bids from larger mills decreased today to
around $15.15 per cwt (about $334 per ton) while bids for exporters were unchanged near $15.55 per cwt (about
$343 per ton), both for March delivery, however no trades were reported. In the meantime, today the USDA
reported that cumulative net export sales for the week ending on February 20th, totaled 93,200 tons, which was
considerably higher than last week and 9% higher than the prior 4-week average.Increases were reported for the
following destinations including: 60,000 tons to Iraq, 16,500 tons to Mexico, 5,400 tons to unknown
destinations, 4,200 tons to Costa Rica, and 1,500 tons to Switzerland. There were also decreases of 1,200 tons
Turkey. U.S. rice exporters shipped 75,800 tons, which was 96% higher than the previous week and 48% higher
than the prior 4-week average. The primary destinations included: 25,400 tons to Turkey, 12,000 tons to Japan,
9,500 tons to Haiti, 8,200 tons to Mexico, and 6,400 tons to Honduras.
Tags: U.S. rice market, U.S. rice prices

Russia Lifts Phytosanitary Import Ban on Pakistan Rice
Feb 27, 2014

On February 24, Russia's phytosanitary authrories lifted a ban on the imporation of Pakistan rice, according to
official documents.The import ban was orginally put in place at the end of September 2013, local sources tell
Oryza, just prior to Pakistan's main rice crop harvest.
Tags: Pakistan rice exports, Russia rice imports

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Acid from Rice Husks Replaces Expensive, Patented Enzyme in Biofuel Production
Feb 27, 2014

Turning unused plant products – like rice husks – into fuel has skyrocketed in popularity. In 2010, global
biofuel production was at an impressive 28 billion gallons, about 17% higher than the previous year. With
traditional fuel prices rising and concerns about the environmental consequences of accessing and transporting
crude oil dominating the media, those numbers are only going to get larger. Some countries, such as Denmark,
already require that a certain percentage of ethanol is added to all gasoline sold in the country. Some countries
allow companies to add up to 85% bioethanol to gasoline.Currently, Brazil and the U.S. are responsible for
producing the majority of the world’s bioethanol, a specific type of biofuel that is made by fermenting
carbohydrates found in plants containing sugar and starch. Most biofuels are so-called first-generation biofuels,
which are made from sugars and vegetable oils in arable crops, making them easily extracted – but these
biofuels are controversial because they use crops that could otherwise be used for food, like corn and
sugarcane.
Increasingly, researchers are developing ways to utilize non-food parts of the plant in the production of
bioethanol.A way to make these so-called second-generation biofuels – biofuels made from agricultural residue
or waste– already exists. But because the extraction process for getting the necessary fuel out of the plant parts
is more difficult with second-generation biofuels, it is a costly and complicated process that utilizes expensive,
patented enzymes controlled by a handful of large companies.
Now, new research by professors from the University of Southern Denmark, the University of Baghdad, and AlMuthanna Unversity in Iraq highlights a new technique that produces biofuel without that valuable
enzyme. One of the Danish researchers, Per Morgen, explained that this project worked to develop a way to
produce bioethanol from cellulose, a tough, woody part of the plant that can be difficult to break
down. Cellulose is the part of the cell wall in plants that gives them their semi-rigid structure, and while
humans can partially digest cellulose, it’s not a rich nutrient source. Just like it’s difficult for humans to digest
cellulose, it’s more difficult to break cellulose down into sugar to create bioethanol.
The researchers found that rather than using an enzyme, the key to breaking down cellulose is an acid – an acid
called RHSO3H that is made from rice husks. The rice husks are burned and the resulting ash contains a high
amount of silicate. When chlorosulfonic acid was combined with the silicate particles, a new molecule resulted
– RHSO3H. This is the molecule that can break the cellulose down to sugar that can then be fermented into
alcohol to create the bioethanol.What’s most notable about this technique is, well, how logical it is! Each year,
80-130 million tons of rice husks are discarded or burnt (it’s hard to know an exact number, and estimates
vary). Using those rice husks for fuel keeps them out of landfills, and the use of bioethanol instead of gasoline
reduces CO2 emissions and fossil fuel consumption, a win-win for the environment. Selling rice husks also
provides another potential revenue source for rice-growing regions, who can export them to fuel-dependent
countries. Furthermore, the process can’t be patented, making it more accessible to smaller companies. Making
bioethanol cheaper and more accessible means even more may be produced, increasing competition, options for
use, and available products, and, possibly, decreasing the price of biofuel. ith rice husks being repurposed for

Cell # 92 321 369 2874

a variety of uses – electricity, batteries, insulation, concrete, and even flour – it stands to reason that we’ll see
demand for rice husks increase in the coming years.
Tags: fuel, Rice husks, bioethanol, biofuel, ethanol, acid

Philippines Rice Prices Soar Due to Shortfall in Supply
Feb 27, 2014

Rice prices in the Philippines have increased sharply in the week ending February 21, 2014, with increases of
up to 8% seen in some markets compared to the previous week prices.According to official sources, sharp
increases in rice prices were seen in cities of Batangas, Legaspi, Cebu and Naga. In Batangas, average prices of
well-milled rice increased to around P40 per kilogram (about $897 per ton), up about 8% from around P37 per
kilogram (about $830 per ton) in the previous week. Prices of regular-milled rice in Batangas stand at around
P37 per kilogram 9aabout $830 per ton), up about 3% from around P36 per kilogram (about $807 per ton) in the
previous week, and up about 10% from average prices of regular-milled rice in 2013.Average prices of rice
provided by the National Food Authority (NFA) remained stable at around P27 – P32 per kilogram (about $605
– $717 per ton), but stocks with the NFA remain limited.
According to the Bureau of Agriculture Statistics (BAS), total rice stocks in the Philippines stood at around 2.12
million tons as of January 1, 2014, which could last for 62 days or up to February 2014. NFA stocks of around
270,000 tons as of January 1, 2014 were enough to last just 8 days.
The NFA says that rice prices are expected to decline by around P2 – P4 per kilogram (about $45 – $90 per ton)
during March – May 2014 due to higher supplies from the harvest season. owever, prices may increase again
during the lean months after that, the NFA says. Local sources say that rice prices are increasing due to the
crackdown on smuggling, while some economists suggest that the government should remove the quantitative
restriction (QR) on rice imports to help reduce rice prices.
Tags: Philippines rice prices, Philippines rice stocks

Oryza Overnight Recap – Chicago Rough Rice Futures Slightly Higher After Very
Dull Overnight Session and Ahead of First Position Day, March Open Interest
Remains above 650
Feb 27, 2014

Chicago rough rice futures for March delivery are currently paused 2 cent per cwt (about $0.44 per ton) higher
at $15.630 per cwt (about $345 per ton) as of 8:00am Chicago time. The other grains are seen mixed this
morning ahead of floor trading in Chicago: soybeans are currently seen about 0.6% higher, wheat was paused
about 1.1% lower, and corn is noted about 0.6% lower.U.S. stock index futures signaled a mixed start to Wall
Street trade on Thursday, after monthly durable-goods data and weekly initial jobless claims.

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The government reported orders for U.S. durable goods fell 1% in January while jobless claims last week rose
by 14,000 to 348,000, while the four-week average remained at 338,250. Federal Reserve Chair Janet Yellen is
scheduled to speak before the Senate Banking Committee at 10 a.m., in her second congressional testimony this
month. On Wednesday, the blue-chip Dow finished 0.2 percent higher. The S&P 500 and the Nasdaq also
squeezed out small gains, with the latter briefly hitting a 14-year high. U.S. stock index futures are currently
trading marginally lower, gold is currently trading about 0.3% higher, crude oil is seen trading about 0.3%
higher, and the U.S. dollar is currently trading about 0.1% higher at 8:00am Chicago time.
Tags: chicago rough rice futures

India Average Wholesale Rice Prices Increase in February 2014
Feb 27, 2014

Average monthly wholesale rice prices in India increased to around Rs. 2,731 per quintal in February 2014, up
about 1% from around Rs. 2,702 per quintal in January 2014, and up about 4% from around Rs.2,627 per
quintal seen a year ago in February 2013, according to official sources.In terms of USD per ton, average

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wholesale rice prices in India stand at about $440 per ton (using current exchange rates) in February 2014, up
about 2% from around $429 per ton (using historical exchange rates) in January 2014, but down about 10%
from around $488 per ton (using historical exchange rates) seen in February 2013.
Tags: India rice prices

Thailand, Vietnam Rice Sellers Lower Their Quotes for Fragrant Rice Today; Other
Asia Rice Quotes Unchanged
Feb 27, 2014

Thailand rice sellers lowered their quotes for Hommali rice by about $10 per ton to about $955 - $965 per ton
today. Vietnam rice sellers lowered their quotes for Jasmine rice by about $10 per ton to about $515 - $525 per
ton. Other Asia rice sellers kept their quotes unchanged.
5% Broken Rice
Thai 5% rice (of new crop) is quoted around $425 - $435 per ton, about a $30 per ton premium over Viet 5%
rice shown around $395 - $405 per ton.
Indian 5% rice is quoted around $415 - $425 per ton, about a $20 per ton premium over Pak 5% rice quoted
around $395 - $405 per ton.
25% Broken Rice
Thai 25% rice of old crop is quoted about $350 - $360 per ton, about a $20 per ton discount to Viet 25% rice
shown around $370 - $380 per ton.
Indian 25% rice is quoted about $360 - $370 per ton, about a $10 per ton premium over Pak 25% rice quoted
around $350 - $360 per ton.
Parboiled Rice
Thai parboiled rice of the old crop is quoted around $460 - $470 per ton.
Indian parboiled rice is quoted around $400 - $410 per ton, about $5 per ton discount to Pak parboiled rice
quoted around $405 - $415 per ton.
100% Broken Rice
Thai broken rice, A1 Super, of the old crop is quoted around $310 - $320 per ton, about a $45 per ton discount
to Viet broken rice shown around $355 - $365 per ton.
Indian broken sortexed rice is quoted about $300 - $310 per ton, about a $20 per ton discount to Pak broken
sortexed rice quoted around $320 - $330 per ton.

Thailand PM Lawyers Seek 15 Days to Respond to Rice Mortgage Program
Corruption Charges
Feb 27, 2014

The legal team of Thailand’s caretaker Prime Minister’s Pheu Thai party has said that it will respond to charges
by the National Anti-Corruption Commission (NACC) within 15 days, as pro-government protestors surfaced in
Bangkok and other places to prevent a judicial coup in the country.The NAAC is investigating at least 15 cases
against the PM, but it had summoned the PM today to hear charges over the populist rice mortgage program.

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The program was an electoral pledge of the PM’s Pheu Thai party and was implemented in October 2011.
While the program promised about 40-50% higher than market rates to rice farmers, it has caused losses of
around $4.4 billion to the government so far. Rice exports plunged in 2012 and 2013, and the program could not
run effectively due to lack of funds.
Opposition leaders claim that the PM was negligent in allowing the rice mortgage program to continue despite
losses and allege that the program is rife with corruption. The PM had earlier said that the rice mortgage
program benefitted the farmers and blamed the opposition for not allowing the rice mortgage program to
function. If found guilty, the PM could be removed from office and banned from politics for five years,
something that months of anti-government protests could not do so far.However, a judicial coup is unlikely
anytime soon. The Pheu Thai party hopes to gather support for the PM in the next few weeks. Local sources say
that the NAAC and the courts are unlikely to topple the government for fear of unprecedented turmoil in the
country.Meanwhile, the PM is busy firefighting of the real kind. According to state media, the PM traveled to
Chiang Mai today to assess the problem of forest fires there. Chiang Mai is the PM’s birthplace and government
supporters there say that the PM could have a temporary office in Chiang Mai, a sign that the political turmoil
in Thailand is far from over.
Tags: Thailand rice mortgage program, Thailand's National Anti-Corruption Commission (NACC)

Bolivia 2013-14 Rice Production Hurt by Floods, Says FAO
Feb 27, 2014

Rice production in
Bolivia is likely to
drop sharply in 201314 due to heavy rains
at the start of the rice
crop
harvest
in
January – February
2014, according to
the UN’s Food and
Agriculture
Organization
(FAO).The FAO says
that rice production is
likely to be affected
by floods as three of
the four key rice
producing provinces
(Cercado,
Marban

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and Moxos) in the department of Beni were hit by the flooding. According to the FAO, about 43,000 hectares of
different crops, including rice, are negatively impacted by the heavy rains and floods. The department of Beni
accounts for around 6% of total rice production in Bolivia.Losse due to floods could lead to further decline in
rice production this year.
The FAO says that rice production in 2013 is estimated to drop to around 450,000 tons of paddy (about 310,000
tons, basis milled), down about 13% from the previous year mainly due to drought conditions and low
temperatures during the cropping season in 2013.According to the USDA, rice consumption in Bolivia in 201314 is estimated at around 350,000 tons (basis milled) and imports are expected to increase to around 40,000 tons
this year, compared to negligible quantities of imports in the previous year.
Tags: Bolivia rice production, Food and Agriculture Organization (FAO)

India Support Price for Rice Growing Too Fast, Says Central Bank Chief

The governor of Reserve Bank of India (RBI) says that the Indian government should slow down increases in
the Minimum Support Price (MSP) of rice and other food grains to contain food inflation.According to official
data, support prices of common paddy rice stood at around Rs. 580 per quintal in 2006-2007, but the MSP
increased by around 125% to around Rs. 1,310 per quintal in 2013-14.
According to local sources the average prices of rice in the domestic market have increased almost 100% in the

Cell # 92 321 369 2874

same period. The RBI chief says that food prices should be regulated by markets and not by MSPs. He adds that
rice prices have increased in India also due to a surge in rural wages due to the government's rural employment
scheme.However, the chief of the Commission on Agricultural Costs and Prices (CACP) says that rice prices
are high in India mainly due large stocks held by the government and not due to MSPs, which are below the
FOB prices.The Indian government fixes the MSPs for paddy rice based on the recommendations of the CACP.

Oryza Global Rice Quotes
February 27th, 2014
Long grain white rice - high quality
Thailand 100% B grade
440-450
Vietnam 5% broken 395-405
↔
India 5% broken
415-425
↔
Pakistan 5% broken 395-405
↔
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 350-360
↔
Vietnam 25% broken 370-380
↔
Pakistan 25% broken 350-360
↔
Cambodia 25% broken
420-430
India 25% broken
360-370
↔
U.S. 15% broken
550-560
↔

↔

↔

Long grain parboiled rice
Thailand parboiled 100% stxd
460-470
Pakistan parboiled 5% broken stxd 405-415
India parboiled 5% broken stxd
400-410
U.S. parboiled 4% broken
660-670
↔
Brazil parboiled 5% broken 590-600
↔
Uruguay parboiled 5% broken
NQ ↔
Long grain fragrant rice
Thailand Hommali 92%
955-965
Vietnam Jasmine
515-525
↓
India basmati 2% broken
1515 -1525

↔
↔
↔

↓
↔

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Pakistan basmati 2% broken NQ
Cambodia Phka Malis 890-900

↔
↔

Brokens
Thailand A1 Super
310-320
↔
Vietnam 100% broken
355-365
Pakistan 100% broken stxd 320-320
Cambodia A1 Super 350-360
↔
India 100% Broken stxd
300-310
Egypt medium grain brokens NQ ↔
U.S. pet food 470-480
↔
Brazil half grain
345-355
↔

↔
↔
↔

Medium grain milled
U.S. Calrose 4% broken
620-630
↔
Egypt medium grain 6%
NQ ↔
All prices USD per ton, FOB vessel, oryza.com

Oryza Afternoon Recap – Chicago Rough Rice Futures End with Mixed Results as
March/May Spread Swings Wildly, Ahead of First Notice; Grain Complex Gets
Hammered Following Release of Export Sales
Feb 27, 2014

Chicago rough rice futures for May delivery settled 6 cents per cwt (about $1 per ton) higher at $15.680 per cwt
(about $347 per ton). Rough rice futures experienced another day of increased volatility with the vast majority
of trade activity focused on the March/May spread. March started the day trading to a slight premium to May,
but quickly came under pressure and slipped to as much as a 28 cent per cwt (about $6 per ton) discount as
traders became desperate to exit long positions ahead of first notice day tomorrow. Today’s action saw prices
fall to and bounce off of nearby technical support near $15.600 per cwt (about $344 per ton) provided by the
10-day trading range and finished the day just above the 100-day, a level that had been noted as a point of
resistance.
This level will be likely be monitored tomorrow and its ability to support prices will be interpreted as a sign of
strength or weakness. Additionally traders will be closely monitoring open interest and for registrations of
warehouse receipts as open interest stood at 649 as of this morning. The other grains finished sharply lower
today, with wheat once again getting hammered and leading the complex lower; soybeans closed about 1%
lower at $13.9350 per bushel; wheat finished about 3% lower at $5.8225 per bushel; and corn finished the day

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about 1.7% lower at $4.4800 per bushel.U.S. stocks climbed on Thursday, with the S&P 500 rising above its
record close, after Federal Reserve Chair Janet Yellen said the central bank would probably continue tapering
its asset purchases while tracking data to figure how much recent softness in the economy is due to the weather.
Appearing before the Senate in testimony delayed by a snowstorm, Yellen said the harsh weather could have
played a role in the recent spate of tepid economic data. Appetite for equities and other riskier assets started the
session on shaky ground on military and political unease in Ukraine and Russia, with the euro falling to a twoweek low and Russia's rouble declining to a five-year low against the dollar.
After a 38-point fall, the Dow Jones Industrial Average was lately up 71.64 points, or 0.4%, at 16,270.05. Also
at or near session highs, The S&P 500 added 9.21 points, or 0.5%, to 1,854.37, with telecommunications and
technology faring best and ultilities and energy the weakest performers among its 10 major sectors. The Nasdaq
advanced 29.05 points, or 0.7%, to 4,321.11. Gold is trading about 0.1% higher, crude oil is seen trading about
0.2% lower, and the U.S. dollar is seen trading about 0.2% lower at about 1:00pm Chicago time.Wednesday,
there were 876 contracts traded, down from 1,388 contracts traded on Tuesday. Open interest – the number of
contracts outstanding – on Wednesday decreased by 102 contracts to 7,469.
Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market

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Russia lifts Pakistan rice import ban

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