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24
th
July , 2014

TOP Contents - Tailored for YOU
Latest News Headlines
EC to Discuss Italy Request over Duty-Free Rice Imports from EBA
Countries on July 23, 2014
Indonesia Signs 50,000 Tons Rice Import Contract with Vietnam
Iraq Re-issues Tender to Buy 30,000 Tons of Rice
ORYZA Global Rice Quotes
Japanese Rice Futures Should be Formally Listed Before August
2015 to Benefit Out of TPP
Pakistan Exports 3.16 Million Tons of Rice in FY 2013-14; Down 7%
from Last Year
Rice Currency Analysis for Today Brazil Real Slips 0.3%
Oryza Afternoon Recap - Chicago Rough Rice Futures Try to Move
Higher but Slip under Fresh Round of Selling
Philippines to Import Another 500,000 Tons of Rice in 2014 through
Open Tender
Oryza U.S. Rough Rice Recap - Prices Hold Steady Amid Limited
Trade Activity
Pakistan Rice Sellers Lower Some of Their Quotes Today; Other
Asia Rice Quotes Unchanged
Prices Drive Italy Rice Farmers to Increase and Change Rice Acreage
Paddy Rice Output to Reach Five Year Low
Overnight Recap - Chicago Rough Rice Futures Unchanged as
Traders Weigh Significance of Recent Movements

News Detail

Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com

EC to Discuss Italy Request over Duty-Free Rice Imports from EBA Countries
on July 23, 2014
European Commission (EC) will disc The uss the
formal request made by the Italian government to the
European Union (EU) to adopt a safeguard clause
against the duty-free rice imports from the less
developed countries (LDCsEuropean Commission
(EC) will disc The uss the formal request made by
the Italian government to the European Union (EU)
to adopt a safeguard clause against the duty-free rice
imports from the less developed countries (LDCs)
under the Everything But Arms (EBA) agreement on
July 23, 2014, according to local sources.Italy
formally presented its woes to the EU nearly a
month after the Italian website www.risoitaliano.eu
published Italy's intentions to submit a report to the European Union (EU) about the consequences of duty free
imports from EBA countries, on local production and the EU rice sector, especially Italy's rice sector.
The Director-General of the European Commission's Directorate-General for Agriculture and Rural
Development (DGARD) will decide over how the EC can react to the Italy's request. He is likely to seek further
evidences regarding increase in duty-free rice imports from EBA countries and their impact on EU rice
production and prices. Meanwhile, localized farmers' groups in Italy have been continuing to protest against
imports from EBA countries. On last Friday, nearly 250 farmers, millers and brokers gathered at Mortara, near
Milan, to showcase their problems to the government.
Farmers' demonstrations in local Italian grain exchanges also came to an end on Friday.The issue of rice
imports from EBA countries is likely to be discussed in the Senate. Senators will reportedly present a document
to the government seeking its plan of action for EC's reaction to the issue. In the document, they are understood
to have mentioned that the Italian rice sector, which is the leader of European rice export market and guaranteed
nearly 10,000 jobs to farmers and workers, cannot be neglected. They also noted that rice is being imported
from countries which use chemicals prohibited in Italy for decades in European and Italian countries. Therefore,
they pleaded the EU to act wisely on the matter.

Indonesia Signs 50,000 Tons Rice Import Contract with Vietnam

Jul 23, 2014


Indonesia has finalized an import contract for around 50,000 tons of rice with Vietnam, according to the State
Logistics Agency (Bulog), report local sources.Bulog fixed the contract at around Rp 6,000 per kilogram, or
around Rp 300 billion (around $25.8 million), Bulog Chairman was quoted as saying.The Bulog Chairman
noted that the import is to maintain the targeted 2 million tons of rice in annual reserves with the State Logistics
Agency. As of May, Bulog's stockpiles fell to 1.9 million tons. He stated that lower stock piles would weaken
the government's ability to control prices of the country's 2013-14 main crop (September 2013 - June 2014)
harvests as well as inflation.
Though the government has been keen on not importing rice this year with an expectation of reasonably good
harvests, floods in certain parts of the country destroyed nearly 116,000 hectares of rice lands affecting around
300,000 tons of rice. An impending El Nino is also expected to affect the output of the country to some
extent.While the Bulog Chief did not hint at further imports, local sources say the government may import up to
500,000 tons this year. The Central Statistics Agency (BPS) has estimated Indonesia's paddy rice production in
2014 to reach around 69.8 million tons, down about 2% from an estimated 71.28 million tons in the previous
year. USDA estimates Indonesia to produce around 37.36 million tons of rice, basis milled, and import around
1.5 million tons of rice in 2014. It estimates 2014 Indonesia's rice imports to more than double from around
650,000 tons in 2013, while 2014 production is expected to increase by just 2% from 36.55 million tons in
2013. Consumption in 2014 is expected to increase by 1% to around 38.65 million tons from 38.13 million tons
in 2013.
Tags: Indonesia rice production, Indonesia rice imports, Bulog, Indonesia rice news

Iraq Re-issues Tender to Buy 30,000 Tons of Rice
Jul 23, 2014
Iraq's Trade Ministry has re-issued tender to purchase around 30,000 tons of rice from Argentina, Brazil,
Thailand, Vietnam, Uruguay and the U.S., according to Bloomberg.The Ministry issued a tender on June 9 for
purchasing 30,000 tons of rice from the same origins, but failed to award the tender to any party. The Ministry
is inviting bids for the current tender before August 11, 2014; and the offers would be valid until August 15,
2014.
Tags: Iraq rice imports, Iraq Grain Board (IGB), Iraq Trade Ministry
ORYZA Global Rice Quotes
July 23rd, 2014
Long grain white rice - high quality


Thailand 100% B grade 435-445
Vietnam 5% broken 445-455
India 5% broken 435-445
Pakistan 5% broken 435-445
Cambodia 5% broken 450-460
U.S. 4% broken 550-560
Uruguay 5% broken 625-635
Argentina 5% broken 620-630

Long grain white rice - low quality
Thailand 25% broken NQ
Pakistan 25% broken 375-385
Cambodia 25% broken 425-435
India 25% broken 390-400
U.S. 15% broken 530-540
Long grain parboiled rice
Thailand parboiled 100% stxd 440-450
Pakistan parboiled 5% broken stxd 450-460
India parboiled 5% broken stxd 420-430
U.S. parboiled 4% broken 630-640
Brazil parboiled 5% broken NQ
Uruguay parboiled 5% broken NQ
Long grain fragrant rice


Thailand Hommali 92% 1000-1010
Vietnam Jasmine 595-605
India basmati 2% broken NQ
Pakistan basmati 2% broken NQ
Cambodia Phka Malis 835-845
Brokens
Thailand A1 Super NQ
Pakistan 100% broken stxd 325-335
Cambodia A1 Super 350-360
India 100% Broken stxd 315-325
Egypt medium grain brokens NQ
U.S. pet food 470-480
Brazil half grain NQ

Medium grain milled
U.S. Calrose 4% broken 1025-1035
Egypt medium grain 6% NQ
All prices USD per ton, FOB vessel, oryza.com
Japanese Rice Futures Should be Formally Listed Before August 2015 to
Benefit Out of TPP
Jul 23, 2014
Formal listing of rice futures is important for Japan under the Trans-Pacific Partnership (TPP), according to the
Head of the Osaka Dojima Commodity Exchange (ODCE) - only commodity exchange in Japan that allows


trading in rice futures.The Agriculture Ministry allowed trading in rice futures in August 2011 for a two-year
trial basis, and extended it for another two years in August 2013. The trial period would end next year, and
before that the rice futures need to be formally listed. The Ministry has hinted at possibility of not further
extending the trial period.To apply for formal listing, daily volume of trading should be at about 2,000 contracts
during the trial period. But the ODCE often falls short of 1,000 contracts, a day. In FY 2103, total volume of
trading was at 196,400 contracts, slightly up compared to around 195,344 contracts in FY 2012.
Also, analysts say with formal listing of rice futures by Chinas Zhengzhou Commodity Exchange late last year,
Japanese rice prices may be affected depending on regulations worked out in the Trans-Pacific Partnership
(TPP).For formal listing by next year August, the ODCE needs to overcome several hurdles such as achieving
desired trading volume as well as convincing major agricultural groups in Japan like the National Federation of
Agricultural Cooperative Associations, or Zen-Noh, to actively participate in trading.

Pakistan Exports 3.16 Million Tons of Rice in FY 2013-14; Down 7% from
Last Year
Jul 23, 2014

Pakistan has
exported around
3.16 million tons
of rice in the fiscal
year 2013-14 (July
2013 - June 2014),
which is down
about 7% from
around 3.4 million
tons of rice
exported in FY
2012-13, according
to provisional data
from the Pakistan
Bureau of Statistics
(PBS).


Pakistans basmati rice exports in FY 2013-14 stood at around 637,715 tons, down about 5% from around
674,048 tons exported in the previous year. Pakistan's non-basmati rice exports in FY 2013-14 have also
declined to around 2.52 million tons, down about 8% from around 2.73 million tons exported in the
previous year. However, Pakistans rice exports are up in terms of value. Pakistan has earned about $2.185
billion from total rice exports in FY 2013-14, up about 14% from around $1.922 billion (using historical
exchange rates) earned in FY 2012-13. Earnings from basmati rice exports in 2013-14 stood at around $658
million, down about 1% from around $666 million in the previous year, while non-basmati rice exports'
earnings stood at around $1.53 billion, up about 21% compared to around $1.26 billion (using historical
exchange rates) in the same period in FY 2012-13.
Rice Currency Analysis for Today Brazil Real Slips 0.3%
Jul 23, 2014
U.S. dollar index was stronger +0.05% from the open today, when it traded at 80.815 at the close.
Euro was weaker -0.03% by the close, trading around 1.3462 by end of day, after trading between an
intraday high of 1.3474 and low of 1.3455.
Thai baht was weaker -0.08%, trading at 31.786 at the close of business.
Indian rupee was stronger +0.24% at 60.1050.
Brazilian real was weaker -0.30% at 2.2194 reais per dollar.
Pakistan rupee was -0.08% weaker at 98.8850.
Vietnamese dong was -0.05% weaker at 21230.
Mexican peso was stronger +0.06% today, when it traded at 12.9356 pesos per dollar by the close of
business.
Chinese yuan was stronger +0.08% at 6.1986.
Argentine peso was weaker -0.02% at 8.1680 pesos per dollar.
Oryza Afternoon Recap - Chicago Rough Rice Futures Try to Move Higher
but Slip under Fresh Round of Selling
Jul 23, 2014
Chicago rough rice futures for Sep delivery settled 4.5 cents per cwt (about $1 per ton) lower at $13.120 per cwt
(about $289 per ton). The other grains finished the day higher; soybeans closed about 1.8% higher at $10.7650
per bushel; wheat finished about 1.2% higher at $5.3175 per bushel, and corn finished the day about 0.7%
higher at $3.7175 per bushel.U.S. stocks mostly rose on Wednesday, with the S&P 500 hitting another record,
as investors weighed earnings from companies and tracked developments in Ukraine and the Middle East.
The Dow Jones Industrial Average fell 16.03 points, or 0.1%, to 17,097.51. The S&P 500 rose to another
intraday record, and was lately 4.43 points, or 0.2%, at 1,987.91, with health care the best performing and


industrials the worst among its 10 major industry groups. The Nasdaq advanced 17.46 points, or 0.4%, to
4,473.48. The only economic data expected for the day came before the bell, with applications for mortgage
refinancing jumping 4%, the Mortgage Bankers Association said. However, the report showed that home
purchase loan applications were down 15% from a year ago. Gold is trading about 0.1% lower, crude oil is seen
trading about 0.7% higher, and the U.S. dollar is seen trading slightly higher at about 1:00pm Chicago
time.Tuesday, there were 404 contracts traded, up from 281 contracts traded on Monday. Open interest the
number of contracts outstanding on Tuesday decreased by 58 contracts to 8,391.
Philippines to Import Another 500,000 Tons of Rice in 2014 through Open
Tender
Jul 23, 2014
The Philippines National Food Authority (NFA) Council has approved import of another 500,000 tons of rice
this year to replenish the country's rice stocks amid huge withdrawals due to losses brought about by Typhoon
Glenda last week, according to local sources.Presidential Assistant for Food Security told local sources that the
additional 500,000 tons of rice would be imported through an open tender, which would be held on August 12,
2014 and for delivery in the first half of September 2014.
He noted that the government hiked its latest importation plan to 500,000 tons from 200,000 tons following
devastation by Typhoon Glenda.The new imports would be over and above the initially planned 800,000 tons
imports from Vietnam, which are likely to fully arrive by the end of August 2014.With the additional imports,
Philippines 2014 rice imports are expected to reach around 1.3 million tons. This is the first time the Philippines
rice imports are crossing one-million mark after they hit a record 2.45 million in 2010.
The Philippines government had agreed to purchase an additional 200,000 tons of rice from Vietnam during the
last week of June. Whether that contract would be void is still not known.
USDA estimates the Philippines will import around 1.45 million tons of rice in 2014, including around 250,000
tons of unofficial rice imports, and the UNs Food and Agriculture Organization estimates the country to import
around 1.2 million tons of rice in 2014.
Oryza U.S. Rough Rice Recap - Prices Hold Steady Amid Limited Trade
Activity
Jul 23, 2014
The U.S. cash market continues to hold steady amid limited trade activity as buyers and sellers play chicken,
waiting to see who will blink first.As of today, old crop offers were unchanged near $15.00 per cwt fob farm
(about $331 per ton) for July-August shipment while others sellers are still looking for at least $16.00 per cwt
fob farm (about $355 per ton).


Bids from exporters could still be found near $14.25 per cwt (about $314 per ton) for July-August delivery
which continues to generate zero interest while some smaller mills are still said to be paying close to $16.00 per
cwt (about $353 per ton) for limited quantities for the same delivery period.Meanwhile, the Iraqi Grain Board
issued another tender, after canceling their last tender, for at least 30,000 tons of long grain white rice of either
U.S., Uruguayan, Argentine, Brazilian, Vietnamese, or Thai origin. Offers need to be submitted no later than
Aug 11 and must remain valid through Aug 15.
Pakistan Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice
Quotes Unchanged
Jul 23, 2014
Pakistan rice sellers lowered their quotes for 25% broken rice and 100% broken rice by about $10 per ton each
to around $375 - $385 per ton and around $325 - $335 per ton respectively today. Other Asia rice sellers kept
their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice (of new crop) is quoted at around $420 - $430 per ton, about $25 per ton discount to Vietnam
5% rice quoted at around $445 - $455 per ton. India 5% rice is quoted at around $435 - $445 per ton, on par
with Pakistan 5% rice quoted at around $435 - $445 per ton.
25% Broken Rice
Thailand 25% rice (of the old crop) was last quoted at around $350 - $360 per ton, about $45 per ton discount
to Vietnam 25% rice quoted at around $395 - $405 per ton. India 25% rice is quoted at around $390 - $400 per
ton, about $15 per ton premium on Pakistan 25% quoted at around $375 - $385 per ton, down about $10 per ton
from yesterday.
Parboiled Rice
Thailand parboiled rice (of the old crop) is quoted at around $440 - $450 per ton. India parboiled rice is quoted
at around $420 - $430 per ton, about $30 per ton discount to Pakistan parboiled rice quoted at around $450 -
$460 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, (of the old crop) was last quoted at around $310 - $320 per ton, about $30 per
ton discount to Vietnam broken rice quoted at around $340 - $350 per ton. India broken sortexed rice is quoted
at around $315 - $325 per ton, about $10 per ton discount to Pakistan broken sortexed rice quoted at around
$325 - $335 per ton, down about $10 per ton from yesterday.



Italys Ente Nazionale Risi, the National Agency for Rice, has confirmed on July 18 that Italian rice acreage has
slightly increased in 2014 from the previous year. In 2013, 216,019 hectares were registered and in 2014 that
number has increased 1.6% to 219,650 hectares.Italy has also seen changes to the varieties that are
planted. Planting acres of Long B rice, used for exports, decreased 21.7%, from 71,446 hectares in 2013 to
55,900 hectares in 2014. Lower prices in the latter part of crop year 2013 likely contributed to this
shift. Conversely, acreage of Long A rice increased 25%, from 83,064 hectares in 2013 to 103,900 hectares in
2014. Long A for domestic use increased 21.3%, from 42,442 hectares in 2013 to 51,500 hectares in
2014. Long A for domestic use represents almost 25% of the total acreage, mostly due to high price
quotations.Medium grain varieties increased about 28.7%, although total acreage remains marginal at about
6,850 hectares, and round varieties decreased about 5.6% to 53,000 hectares.

Italys Ente Nazionale Risi, the National Agency for Rice, has confirmed on July 18 that Italian rice acreage has
slightly increased in 2014 from the previous year. In 2013, 216,019 hectares were registered and in 2014 that
number has increased 1.6% to 219,650 hectares.Italy has also seen changes to the varieties that are
planted. Planting acres of Long B rice, used for exports, decreased 21.7%, from 71,446 hectares in 2013 to


55,900 hectares in 2014. Lower prices in the latter part of crop year 2013 likely contributed to this
shift. Conversely, acreage of Long A rice increased 25%, from 83,064 hectares in 2013 to 103,900 hectares in
2014. Long A for domestic use increased 21.3%, from 42,442 hectares in 2013 to 51,500 hectares in
2014. Long A for domestic use represents almost 25% of the total acreage, mostly due to high price
quotations.Medium grain varieties increased about 28.7%, although total acreage remains marginal at about
6,850 hectares, and round varieties decreased about 5.6% to 53,000 hectares.
Paddy Rice Output to Reach Five Year Low
Thailand's paddy rice output in 2013-14 is likely to decline to around 34 million tons, down about 10% from
around 37.4 million tons produced in 2012-13 due to drought and the abandonment of the rice pledging scheme,
according to local sources.The President of the Thai Rice Packers Association told local media sources that
paddy rice output in the current year would be lowest since 2009-20, when Thailand produced around 32.4
million tons of paddy. He noted that the production has been affected by drought as well as lack of a price
subsidy discouraged farmers from planting rice.According to a Bloomberg survey of 10 farmers in Thailand's
biggest rice growing regions, drought spread across 40 of Thailand's 77 provinces since December and rainfall
in May was around 31% lower than 30-year average.Though decline in production is likely to affect farmers'
incomes, it is certainly a good news to the military government, which is keen on releasing as many as rice
stocks as possible.Meanwhile, the Commerce Ministry, concerned state agencies and stakeholders in the rice
industry finalized the five development and six marketing strategies for implementation from 2015-20. The
strategies will be presented before the military government by the end of this month.The Rice Department has
planned a pension of about 4,000 baht (around $125) per month for rice farmers after their retirement. But to be
eligible to this pension, rice farmers should contribute to a rice development fund for at least 15 years (during
their working years), according to its Director-General. Advertise
Overnight Recap - Chicago Rough Rice Futures Unchanged as Traders Weigh
Significance of Recent Movements
icago rough rice futures for Sep delivery were noted unchanged at $13.165 per cwt (about $290 per ton) during
early trading in Chicago. The other grains are seen mostly higher this morning in floor trading in Chicago:
soybeans are currently seen about 0.6% higher, wheat is listed about 0.4% higher and corn is noted about 0.2%
lower. U.S. stocks wavered on Wednesday, with the S&P 500 hitting another record, with investors weighing
earnings from companies. The only economic data expected for the day came before the bell, with applications
for mortgage refinancing jumping 4 percent, the Mortgage Bankers Association said. However, the report
showed that home purchase loan applications were down 15% from a year ago. The Dow Jones Industrial
Average fell 34.70 points, or 0.2 percent, to 17,078.84. The S&P 500 rose to another intraday record, and was
lately up 1.29 points at 1,984.75. The Nasdaq advanced 5.16 points to 4,461.33. US stock indexes are currently
seen about 0.2% lower, gold is currently trading about 0.2% higher, crude oil is seen trading about 0.2%
higher, and the U.S. dollar is currently trading about 0.1% lower at 9:30am Chicago time.ags: U.S. rice prices; U.S.
rice market; Chicago rough rice futures

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