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November 26, 2014
DAILYCompiled
EXCLUSIVE
ORYZA E-NEWSLETTER
& Edited by Riceplus Magazine
November 26, 2014
News Detail
The UN's Food and Agriculture Organization (FAO) has estimated Brazil's 2014 paddy rice
production at around 12.16 million tons (around 8.3 million tons, basis milled), up about 3%
from around 11.82 million tons (around 8 million tons, basis milled) produced in 2013 despite
unfavorable weather conditions (during cropping season) negatively impacting yields in some
rice-growing parts of the country.
Planting for 2014-15 main cropping season (October - May) has begun in the Centre-South
region and is underway. Planting in North/North-East regions will commence in January when
seasonal rains occur. Based on estimates of normal to above-normal rains across most of the
country between December 2014 to March 2015, FAO estimates positive outlook for 2015 rice
crop.
Acording to data from the FAO, average wholesale paddy rice prices have increased to around
691.14 real (around $282.56) per ton in October 2014, up about 2.5% from around 674.47 real
(around $289.22) per ton in September 2014 and down about 5% from around 725.81 real
(around $331.73) per ton in October 2013. In October, prices were supported by strong export
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India 5% broken
395-405
U.S. 4% broken
540-550
time.
USDA estimates Japan MY 2014-15 (November- October) paddy rice production to decline
about 1.6% to around 10.577 million tons (around 7.7 million tons, basis milled) from last year's
10.758 million tons (around 7.832 million tons, basis milled). It estimated Japan to import
around 700,000 tons, up about 9% from around 640,000 tons last year.
Tags: japan rice imports, Japan rice production
India exported around 3.16 million tons of rice (including basmati and non-basmati) in the first
four months of FY 2014-15 (April - March), down about 10% from around 3.53 million tons
exported during the same period in FY 2013-14, according to provisional data released by the
Agricultural and Processed Food Products Export Development Authority (APEDA).
In value terms, Indias total rice exports have earned around Rs. 15,250 crore (around $2.55
billion) during April July 2014, slightly down from around Rs. 15,336 crore (around $2.69
billion) in the same period in FY 2013-14. In USD terms, value of rice exports declined by about
5% during April July 2013.
India's basmati rice exports have declined to around 1.22 million tons in April - July 2014, down
about 16% from about 1.45 million tons exported in the same period in FY 2013-14. In value
terms, basmati rice exports surged to about Rs.10,363 crore (around $1.73 billion) during the
first four months of FY 2014-15, slightly up from around Rs.10,294 crore (around $1.8 billion)
earned in the same period in FY 2013-14. In USD terms, Indias basmati rice exports declined by
4% in April July 2014.
India's basmati rice exports were primarily impacted due to Iran's stance to revise revised the
accepted level of arsenic content in basmati rice from 150 parts per billion (ppb) to 120 ppb in
March this year. In September this year, the Middle East nation also increased import duty on
basmati rice from 22% to 45%. Iran is a major destination for India's basmati rice exports.
Indias non-basmati rice exports in April - July 2014 declined to around 1.945 million tons,
down about 6% from around 2.08 million tons recorded in the same period in FY 2013-14. In
value terms, non-basmati rice exports earned about Rs.4,887 crore (around $816 million), down
about 3% from around Rs.5,043 crore (around $880 million) in the same period in FY 2013-14.
In dollar terms, non-basmati rice exports declined by 7% during the period.
Tags: India rice exports, India basmati rice exports, India non-basmati rice exports
The U.S. cash market was slightly weaker today falling in sympathy with a softer futures market
however there was very little of any consequence to report as selling interest has come to a
standstill ahead of the thanksgiving holiday.Analysts insist that most farmers remain
unimpressed with the bids that they are seeing and would rather keep their rice in their bins and
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wait until prices improve even if that does not happen until after the new year.
Tags: Rice Prices, rice news, U.S.
Chicago rough rice futures for Jan delivery are currently paused 11 cents per cwt (about $2 per
ton) lower at $12.335 per cwt (about $272 per ton) ahead of floor trading in Chicago. The other
grains are seen trading higher: soybeans are currently seen about 1.1% higher, wheat is listed
about 0.2% higher and corn is noted about 0.5% higher. U.S. stock-index futures were higher on
Tuesday after the second reading of third-quarter GDP proved better than expected. The number
came in at 3.9%, higher than the expected 3.5 percent quarter-on-quarter annualized growth.
The day will also bring the Conference Board's latest consumer confidence survey. In addition,
the FHFA house price index and Case-Shiller home price indices for September will be released.
Declining oil prices remain in focus, with Brent crude trading below $80 a barrel. Traders are
focusing on Thursday's meeting of the Organization of the Petroleum Exporting Countries
(OPEC), to see whether the consortium will opt to cut production. U.S. stock-index futures are
currently seen about 0.2% higher. Gold is currently trading about 0.3% lower, crude oil is seen
trading about 0.2% higher, and the U.S. dollar is currently trading about 0.1% higher at 8:10am
Chicago time.
Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
Chicago rough rice futures for Jan delivery settled 7.5 cents per cwt (about $2 per ton) lower at
$12.370 per cwt (about $273 per ton). Rough rice futures traded lower again today, as the market
continues to suffer from a lack of interest likely due to the shortened holiday week. Little is
expected in the way of trade volume over the rest of the week, a fact that could trigger price
swings in either direction but will likely provide little in the way of technical or fundamental
significance for future trading direction.
The other grains rallied today; Soybeans closed about 1.7% higher at $10.5100 per bushel;
wheat finished about 1.7% higher at $5.5150 per bushel, and corn finished the day about 1.8%
higher at $3.7425 per bushel.U.S. stocks rose on Tuesday, with the S&P 500 hitting another
peak, as data had the economy growing more than previously forecast in the third quarter, mostly
offsetting an unexpected drop in consumer confidence in November. The energy sector weighed
on the broad market, with oil prices on the decline two days ahead of an OPEC meeting that has
investors considering prospects for the first reduction in production quotas since 2008.
Crude erased initial Tuesday gains after the head of Russia's state oil producer said a drop below
$60 a barrel would not mean Russia would have to ease its output. Crude-oil futures were lately
down $1.01, or 1.3%, at $74.77 a barrel on the New York Mercantile Exchange. Already
modestly higher, stock futures furthered their gains after the Commerce Department reported
gross domestic product climbed at a 3.9 percent annualized rate, up from an initial 3.5%
estimate. Separately, a gauge of home prices in 20 cities climbed at a reduced pace in September.
After fluctuating on either side of neutral, the Dow Jones Industrial Average was up 24.53
points, or 0.1%, at 17,842.43. After setting another intraday record, the S&P 500 was lately up
1.01 point at 2,070.42, with industrials the best performing and energy hardest hit among its 10
major sectors. The Nasdaq.added 3.15 points, or 0.1%, to 4,758.05. Gold is trading about 0.1%
higher, crude oil is seen trading about 2% lower, and the U.S. dollar is seen trading about 0.3%
lower at about 1:00pm Chicago time.Monday, there were 413 contracts traded, up from 253
contracts traded on Friday. Open interest the number of contracts outstanding on Monday
deceased by 29 contracts to 9,654.
Tags: Rice Prices, global rice news
Vietnam rice sellers lowered most of their quotes by about $5 per ton today. Pakistan rice sellers
lowered their quotes for broken rice by about $10 per ton. Other Asia rice sellers kept their
quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is quoted at around $405 - $415 per ton, about $15 per ton premium on
Vietnam 5% rice shown at around $390 - $400 per ton, down about $5 per ton from yesterday.
India 5% rice is quoted at around $395 - $405 per ton, about $15 per ton premium on Pakistan
5% rice quoted at around $380 - $390 per ton.
25% Broken
Rice
Thailand 25% rice was last quoted at around $350 - $360 per ton, on par with Vietnam 25% rice
shown at around $350 - $360 per ton, down about $5 per ton from yesterday. India 25% rice is
quoted at around $360 - $370, about $25 per ton premium on Pakistan 25% rice quoted at around
$335 - $345 per ton.
Parboiled Rice
Thailand parboiled rice is quoted at around $405 - $415 per ton. India parboiled rice is quoted at
around $380 - $390 per ton, about $40 per ton discount to Pakistan parboiled rice quoted at
around $420 - $430 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is quoted at around $330 - $340 per ton, about $10 per ton
premium on Vietnam 100% broken rice shown at around $320 - $330 per ton. India's 100%
broken rice is shown at around $305 - $315 per ton, on par with Pakistan broken sortexed rice
quoted at around $305 - $315 per ton, down about $10 per ton from yesterday.
Tags: India rice prices, Vietnam rice prices, pakistan rice prices, Thailand rice prices
10
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ten days) and farmers can plant the same seed with every crop. Unlike in case of hybrids where
farmers have to buy fresh set of seeds as the hybrid seeds lose their vigour and vitality with every
passing generation, farmers can grow this variety by simply setting aside a few bags for seeding
during the next season.
Oryza: What was the response of the farmers when they saw the performance of the variety?
Dr Vishnupriya: In 2010, while a serious disease severely affected the rice plants of Nandyal
town in south India, while a solo farmer who planted improved Sambha Masuri got a bumper
yield. Later, the farmers also got to know about the millions of profits farmers in Gangavathi
bagged after they planted this variety in 16,000 hectares. Now, the farmers are also asking us if
we can find solutions to other diseases like for leaf streak, BHP, resistance to other diseases etc.
We are working on that. We recently distributed 10 kg seed bags to a few hundreds farmers in
October 2014 and hope to reach out to more farmers through Krishi Vignan Kendras (Indian
grassroot agriculture research institutes) .
Oryza: What else do you foresee for improved Sambha Masuris future?
Dr Vishnupriya: More and more Indian and global farmers cultivating it and keeping up the
fight on against the bacterial blight despite it developing resistance or getting smarter.
Oryza: What else is CCMB working on now, for rice farmers especially?
Dr Vishnupriya: I am working on a project with abiotic stress heat stroke.
Oryza: Has any seed company come forward to produce the seeds?
Dr Vishnupriya: We were not happy with the work a seed company which came forward to do
it and neither were we happy with proposals from some others. So now we are planning to float a
seed company with international collaboration by the beginning of 2015, hopefully.
Oryza: What do you think fetched the coveted award for the rice variety?
Dr Vishnupriya: It is a socially relevant product, a technical product with a human face and has
a global impact. Our director Dr Mohan Rao took the initiative to ensure that the research that
typically is restricted to records and government submissions has reached lakhs of farmers who
are benefitting from it.
Tags: Rice, rice news, CCMB, resistant genes, improved sambha masuri, India, dr ramesh sonti, dr mohan rao,
dr vishnupriya, how to. bligh resistant
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The Thai government has decided to increase lending budget of the Bank for Agriculture and
Agricultural Cooperatives (BAAC) to around 34.8 billion baht (around $1.06 billion) from the
earlier 17.3 billion baht (around $527 million) as part of measures to control price falls in the
current harvest season, according to Bloomberg.The government will encourage farmers to delay
sales of about 2 million tons from the upcoming harvest to boost rice prices. According to local
sources, it is keen on increasing the price of unmilled white rice to around 8,500 baht (around
$263) per ton, prices of unmilled jasmine rice to around 16,000 baht (around $495) per ton, and
prices of glutinous rice to around 13,000 baht (around $401) per ton during the main crop harvest
season.
The government will provide low-interest loans to farmers to hold their harvest and refrain from
selling. The loans will be increased to 90% of the value of rice stored (without releasing into
market) from the current 80%. It will also pay about 1,000 baht (around $77) per ton to farmers
to ensure rice is kept in good conditions.The measures are expected to prevent prices from falling
as well as help increase incomes of farmers.
Tags: Thai rice sector, Thai rice prices
Pakistan has exported around 295,252 tons of rice (including basmati and non-basmati) worth
$194.26 million in the first two months of FY 2014-15 (July - June), according to data from the
Rice Exporters Association of Pakistan (REAP).
The South Asian nation exported 91,216 tons of basmati rice worth 105.72 million during July August 2014. The U.A.E. and the U.K. remained biggest destinations for Pakistan's basmati rice
in July - August 2014. The U.A.E. accounted to about 19% of Pakistan's total basmati rice
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exports in the first two months of FY 2014-15. Pakistan exported around 17,654 tons of basmati
rice worth $20.3 million to the U.A.E. in the referred period. The U.K. accounted to about 11%
of Pakistan's total basmati rice exports in the first two months of FY 2014-15. Pakistan exported
around 10,174 tons of basmati rice worth $11.6 million to the U.K. in the referred period.
Other important destinations for Pakistans basmati rice exports in July - August 2014 included
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Oman (about 7,701 tons worth $10.5 million), Azerbaijan (about 6,606 tons worth $3.3 million),
KSA (about 6,578 tons worth $7.5 million), Qatar (about 4,802 tons worth $6.1 million),
Australia (about 3,355 tons worth $4.2 million), U.S. (about 3,136 tons worth $4.7 million) and
Malaysia (about 2,534 tons worth $2.7 million).
Pakistan exported 204,036 tons of non-basmati rice worth 88.5 million during July - August
2014. Kenya and Indonesia remained biggest destinations for Pakistan's non-basmati rice in July
- August 2014. Kenya accounted to about 29% of Pakistan's total non-basmati rice exports in the
first two months of FY 2014-15. Pakistan exported around 58,952 tons of non-basmati rice worth
$23.8 million to the Kenya in the stated period. Indonesia accounted to about 12% of Pakistan's
total non-basmati rice exports in the first two months of FY 2014-15. Pakistan exported around
24,500 tons of non-basmati rice worth $8.3 million to Indonesia in the stated period.
Other important destinations for Pakistans non-basmati rice exports in July - August 2014
included Afghanistan (about 12,129 tons worth $3.7 million), Tanzania (about 9,909 tons worth
$4.2 million), KSA (about 8,100 tons worth $5.5 million), China (about 6,798 tons worth $4.6
million), Benin (about 6,541 tons worth $2.4 million), U.A.E. (about 6,193 tons worth $5.3
million), Azerbaijan (about 5,908 tons worth $1.8 million) and Iraq (about 5,283 tons worth $1.6
million).
In FY 2013-14, the U.A.E., the U.K., Yemen, Oman, KSA, Belgium, Azerbaijan, Spain and the
U.S. remained the top destinations for Pakistan's basmati rice. Kenya, China, Madagascar,
Tanzania, Benin, Mozambique, Malaysia, Ivory Coast, KSA, Guinea and Mauritania remained
top destinations for Pakistan's non-basmati rice exports during the year.
Tags: Pakistan rice exports, Pakistan basmati rice exports, Pakistan non-basmati rice exports
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