Professional Documents
Culture Documents
Volume 5, Issue I
Rice
www.ricepluss.com
E-Newsletter
Chief Editor:Hamlik
For Advertisement & Specs:
Mujahid Ali
mujahid.riceplus@gmail.com
Riceplus Magazine
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New Detail
Argentina has exported around 458,940 tons of rice in the first ten months (January October) of
2014, down about 14% from around 467,995 tons exported during the same period in 2013,
according to data from the Ministry of Agriculture in Argentina. Argentina exported around
11,607 tons of rice in October 2014, down about 25% from around 15,436 tons exported in
September 2014; and down about 80% from about 56,701 tons exported in October 2013.
Argentina exported around 4,503 tons of rice to Brazil (about 39% of total October 2014
exports), around 2,158 tons of rice to Bolivia (about 19% of October exports), and around 2,282
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tons of rice to Chile (about 20% of October exports). It exported the remaining 23% or around
2,664 tons of rice to Costa Rica (875 tons), Italy (46 tons), New Zealand (20 tons), Canada (90
tons), Denmark (120 tons), Germany (100 tons), Netherlands (100 tons), Paraguay (105 tons),
Uruguay (662 tons), U.K. (20 tons) and the U.S. (526 tons).
Argentina exported around 535,722 tons of rice in 2013, down about 16% from around 635,938
tons exported in 2012.USDA estimates Argentina's milled rice production at about one million
tons in MY 2014-15 (April March), against consumption of around 440,000 tons. It estimates
Argentina to export around 600,000 tons of rice in MY 2014-15.
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Brazil has exported around 1.24 million tons of rice in 2014 (January December), according to
data released by the Rice Institute of Rio Grande do Sul (IRGA).Senegal remained the largest
importer of Brazilian rice in 2014 with 165,062 tons, or about 13% of Brazil's total rice exports
during the year. Cuba accounted for around 154,447 tons (about 12% of Brazil's total exports
during the year); Venezuela accounted for around 141,524 tons (about 11% of Brazil's total
exports during the year); Sierra Leone accounted for 124,395 tons (about 10% of Brazil's total
exports during the year); and Gambia and Bolivia accounted for 9% and 6% of Brazils total rice
exports during 2014 with 115,057 tons and 74,506 tons respectively.
Brazils National Grains Supply Company (Conab) has forecasted the country's 2014-15 paddy
rice production at around 12.198 million tons (around 8.29 million tons, basis milled), slightly up
from around 12.122 million tons (around 8.24 million tons, basis milled) in 2013-14.USDA
estimates Brazil MY 2014-15 (April March) paddy rice production at around 12.28 million
tons (around 8.35 million tons, basis milled), slightly up from an estimated 12.2 million tons
(around 8.3 million tons, basis milled) in MY 2013-14. It estimates Brazils 2014-15 paddy rice
acreage at around 2.45 million tons, up about 2% from an estimated 2.4 million hectares in MY
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2013-14. USDA estimates Brazil to export around 900,000 tons of rice and import around
700,000 tons of rice in 2014.
Global Rice Quotes
January 15th, 2015
Long grain white rice - high quality
Thailand 100% B grade
415-425
Vietnam 5% broken 375-385
India 5% broken
395-405
U.S. 4% broken
510-520
Uruguay 5% broken NQ
Argentina 5% broken NQ
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Egypt medium grain brokens NQ
U.S. pet food 405-415
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together imported around 732,556 tons of rice, nearly 70% more than their allocated quota of
around 223,902 tons.
The Minister noted that the five companies need to pay N36.5 billion ($190 million) to the
government as import tariff before January 15, 2015. "Nigeria cannot lose any revenue due to the
economy. All companies who have imported rice above their allocated quotas must pay fully the
amounts due to the treasury," the Minister was quoted as saying.He said the aim of the new rice
policy was to encourage importers to invest in the country and contribute to an increase in local
production. He added that the government would not spare any importer misusing the policy.
Nigeria is a net importer of rice and imports over 50% of its annual rice consumption needs. The
government aims to reduce the national supply gap to zero by 2017 by achieving self-sufficiency
in rice production.USDA estimates the country to produce 2.55 million tons of milled rice in the
MY 2014-15 (October 2014 - September 2014) and import about 3.5 million tons. The country's
consumption needs during the year are estimated at around 6.1 million tons.
India rice sellers lowered their quotes for 100% broken rice by about $5 per ton to around $295 $305 per ton today. 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 $30 per ton premium on
Vietnam 5% rice shown at around $375 - $385 per ton. India 5% rice is quoted at around $390 $400 per ton, about $20 per ton premium on Pakistan 5% rice quoted at around $370 - $380 per
ton.
25% Broken Rice
Thailand 25% rice was last quoted at around $350 - $360 per ton, about $5 per ton premium on
Vietnam 25% rice shown at around $345 - $355 per ton. India 25% rice is quoted at around $355
- $365, about $30 per ton premium on Pakistan 25% rice quoted at around $325 - $335 per ton.
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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 $20 per ton discount to Pakistan parboiled rice quoted at
around $400 - $410 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is quoted at around $320 - $330 per ton, about $5 per ton
discount to Vietnam 100% broken rice shown at around $325 - $335 per ton. India's 100%
broken rice is shown at around $295 - $305 per ton, down about $5 per ton from yesterday and
about $5 per ton premium on Pakistan broken sortexed rice quoted at around $290 - $300 per
ton.
Indonesia's
state
buying agency Bulog
is hoping that the
country may not need
to import rice in 2015
due to sufficient stocks
with it, according to
Bloomberg.According
to Bulog, the country
currently has around
1.7 million tons with it
and
is
expecting
around 600,000 tons of
additional stocks in
January 2015, around
1.2 million tons in February, around 3 million tons in March and around 1.9 million tons in
April.
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Also, there would not be any need for imports given the price stability and the government's aims
to increase 2015 paddy rice production by about 4% to around 73.4 million tons (around 48.44
million tons, basis milled) from an estimated 70.61 million tons (around 46.65 million tons, basis
milled) in 2014.The new President is keen on achieving self-sufficiency in rice production and
ending rice imports within the next two years. For this purpose, the government has allocated
around Rp 2 trillion ($163.8 million) and is planning to rehabilitate around one million hectares
of tertiary irrigation channels for paddy production and distribute 25,000 tons of subsidized seeds
and subsidized fertilizer for around one million hectares of paddy fields.
USDA estimates Indonesia to produce around 36.5 million tons of rice, basis milled (around
57.48 million tons, basis paddy) and import around 1.3 million tons of rice in MY 2014-15
(January 2015 - December 2015).
Chicago rough rice futures for Mar delivery are currently listed 2 cents per cwt (about $0.44 per
ton) lower at $11.425 per cwt (about $252 per ton) ahead of floor trading in Chicago. The other
grains are seen lower this morning: soybeans are currently seen 0.4% lower, wheat is listed about
1% lower and corn is currently noted about 1.5% lower.U.S. stock-index futures signaled a lower
open on Wednesday, as retail sales for December disappointed and weak oil prices hit copper
and mining stocks. Already sharply lower, stock futures fell harder after the Commerce
Department reported retail sales slid the most in a year last month, down 0.9%. Falling oil prices
continue to weigh on global equity markets. On Tuesday, the commodity fell near six-year lows,
extending losses after trading lower for seven straight weeks. Meanwhile, copper prices also hit
five-and-a-half-year lows overnight, causing severe selling in miners.
European equities fell sharply in morning trade, with London's FTSE dragged over 1% lower.
The Fed will also release its Beige Book today at 2pm ET. Import/export data and business
inventories are also expected at 08:30 am ET and 10:00 am ET respectively. In other news, the
World Bank on Tuesday lowered its global growth forecasts for 2015 and 2016 due to
disappointing economic prospects in the euro zone, Japan and some major emerging economies
that offset the benefit of lower oil prices. Gold is currently trading about 0.5% higher, crude oil is
seen trading about 0.4% higher, and the U.S. dollar is currently trading about 0.5% lower at
8:30am Chicago time.
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Chicago rough rice futures for Mar delivery settled 29.5 cents per cwt (about $7 per ton) lower at
$11.150 per cwt (about $246 per ton). Rough rice futures charted another leg lower, extending
recent losses and charting a fresh contract low as prices broke through the recent low of $11.395
per cwt (about $251 per ton) which had held for nearly two weeks. Todays move is seen as yet
another bearish signal and indicates that the market will likely move to test psychological
support at the $11.000 per cwt (about $243 per ton) level. The other grains finished with mixed
results today; Soybeans closed about 0.5% higher at $10.0925 per bushel; wheat finished about
1.9% lower at $5.3775 per bushel, and corn finished the day about 1.2% lower at $3.8100 per
bushel.
U.S. stocks fell sharply on Wednesday, continuing losses into a fourth day, but came off session
lows after the release of the Federal Reserve's Beige Book. Already sharply lower, stock futures
fell harder ahead of the opening bell after the Commerce Department reported retail sales slid the
most in a year last month, down 0.9%. A later economic report came in as expected, with U.S.
business inventories rising 0.2% in November. The ongoing decline in the price of crude
extended to metals, with the price of copper stumbling as the World Bank reduced its global
growth forecast, pointing to soft expansion in Europe and China. After a 348-point drop, the
Dow Jones Industrial Average was lately down 326.01 points, or 1.9%, at 17,287.67.
The S&P 500 dropped 32.39 points, or 1.6%, to 1,990.64, with materials and financials
weighing the most among its 10 major industries, all of which were in decline. The Nasdaq shed
61.94 points, or 1.3%, to 4,599.53. Gold is trading about 0.4% higher, crude oil is seen trading
about 4.5% higher, and the U.S. dollar is seen trading about 0.2% lower at about 1:00pm
Chicago time.Tuesday, there were 576 contracts traded, up from 413 contracts traded on
Monday. Open interest the number of contracts outstanding on Tuesday decreased by 5
contracts to 8,443
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Jan 14, 2015
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The U.S. cash market was materially weaker today falling in sympathy with the steep sell-off in
the futures market.Most bids continue to soften amid unimpressive demand while many farmers
remain confident that prices will recover and as a result there was very little trading to report.
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