10th july (friday),2015 daily exclusive oryza rice e newsletter by riceplus magazine

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News are published with permission of ORYZA.com Page 1

July 10 , 2015 Vol 5 ,Issue VII





Indian Court to Hear Plea on Chinese Plastic

Rice

Jul 09, 2015

Oryza.com -

The Delhi High Court has accepted a public interest litigation (PIL) that has alleged that the rice

made out of plastic, which is imported from China, is being sold in the country along with real

rice and has sought testing of samples, according to the Economic Times.

The PIL stated that plastic rice when mixed with real rice cannot be identified and when

consumed, it may lead to serious gastric ailments. The petitioner urged the court to allow for

raiding rice traders and testing the samples in order to protect the consumers.

http://www.oryza.com/22063/traces-chinese-plastic-rice-found-india





The Court will reportedly hear the case on August 20, 2015.

Global Rice Quotes

July 10th, 2015

Long grain white rice - high quality

Thailand 100% B grade 390-400 ↔

Vietnam 5% broken 345-355 ↔

India 5% broken 380-390 ↔

Pakistan 5% broken 375-385 ↔

Myanmar 5% broken 415-425 ↔

Cambodia 5% broken 425-435 ↔

U.S. 4% broken 470-480 ↔

Uruguay 5% broken 535-545 ↔

Argentina 5% broken 530-540 ↔

Long grain white rice - low quality

Thailand 25% broken 355-365 ↔


Pakistan 25% broken 335-345 ↔

Cambodia 25% broken 410-420 ↔

India 25% broken 350-360 ↔

U.S. 15% broken 445-455 ↔

Long grain parboiled rice

Thailand parboiled 100% stxd 390-400 ↔

Pakistan parboiled 5% broken stxd 415-425 ↔

India parboiled 5% broken stxd 375-385 ↔

U.S. parboiled 4% broken 555-565 ↔





Brazil parboiled 5% broken 545-555 ↔

Uruguay parboiled 5% broken NQ ↔

Long grain fragrant rice

Thailand Hommali 92% 865-875 ↔

Vietnam Jasmine 490-500 ↔

India basmati 2% broken NQ ↔

Pakistan basmati 2% broken NQ ↔

Cambodia Phka Mails 835-845 ↔

Brokens

Thailand A1 Super 315-325 ↔


Pakistan 100% broken stxd 285-295 ↔Cambodia A1 Super 350-360 ↔

India 100% broken stxd 295-305 ↔

Egypt medium grain brokens NQ ↔

U.S. pet food 350-360 ↔

Brazil half grain NQ ↔

All prices USD per ton, FOB vessel, oryza.com

Oryza Overnight Recap – Chicago Rough

Rice Futures Continue to Trend Higher;

Grains Higher on Improvement in Chinese

Economy

Jul 09, 2015





Chicago rough rice futures for Sep delivery are currently seen paused 5.5 cents per cwt (about $1

per ton) higher at $11.065 per cwt (about $244 per ton) ahead of floor trading in Chicago. The

other grains are seen trading higher this morning; soybeans are currently seen trading about 1.7%

higher, wheat is listed about 0.8% higher and corn is currently noted about 0.8% higher.

U.S. stocks were tipped to open higher on Thursday, as a recovery in battered Chinese stocks

lifted sentiment, while focus remained on efforts to avert the collapse of Greece. China's

benchmark Shanghai Composite stock index jumped almost 6% after Beijing delivered its latest

salvo of measures to prop up a market that has crashed nearly 30% in the past month. The

Chinese Securities regulator on Thursday banned shareholders from selling large stakes in listed

firms in a bid to stem a slide in Chinese stocks that has sparked fears across the globe about a

protracted slowdown in the world's second-biggest economy. In fact, the sharp selloff has put

China risks firmly back in the spotlight, helping send Wall Street shares down almost 1.5% on

Wednesday. On the domestic front, weekly jobless claims data showed a slight increase to

297,000. There are several Federal Reserve speakers on the calendar, while Fed Chair Janet

Yellen speaks on Friday. Gold is currently trading about 0.1% higher, crude oil is seen trading

about 2.4% higher, and the U.S. dollar is currently trading about 0.2% higher at 8:30am Chicago

time.

Will Deteriorating Thai Rice Stocks Divert

Export Demand to India?

Jul 09, 2015





A combination of external factors are likely to be favourable to India's non-basmati rice exports

in FY 2015-16 (April - March), according to the HinduBusinessLine.

After selling around 1.14 tons of rice in the latest tender on July 7, the Thai government is

holding about 14.3 million tons of rice in its stockpiles. Of this around 4.6 million tons are

declared as rotten and the government is planning to sell them to the industrial sector by the end

of this month. About 8 million tons of rice have reportedly passed standard testing and could be

sold for domestic consumption and export.

However, quality concerns still persist among buyers and they are expected to turn to India to

meet their buying needs. Since India is said to have good quality white rice, parboiled rice and

100% broken rice, demand for these could be expected to increase in this year.

An India-based grains analyst told local sources that since prices of Indian rice are also

competitive, exports are expected to be stable in FY 2015-16 unless the rupee strengthens against

the dollar or the government intervenes. The monsoons, which are feared to be impacted by the





El Nino weather pattern, should not play a spoil sport on Indian rice production else the

government may decide to place restrictions on rice exports.

India 5% rice, parboiled rice and 100% broken rice currently stand at $385 per ton, $375 per ton

and $300 per ton respectively compared to Thailand's $385 per ton, $320 per ton and $390 per

ton.

India exported around 1.05 million tons of non-basmati rice in the first two months of FY 2015-

16 (April - March), up about 13% from around 929,552 tons during the same period in FY 2014-

15, according to data from the Agricultural & Processed Food Products Export Development

Authority (APEDA). India's total rice exports in April - May 2015 stood at around 1.83 million

tons compared to around 1.55 million tons last year.

Venezuela to Cancel 'Rice for Oil' Deal with

Guyana, Says Finance Minister

Jul 09, 2015

The PetroCaribe Deal between Venezuela and Guyana is coming to an end as Venezuela has not

agreed to renew it after it expires in November this year, according to local sources. Venezuela

sells oil to Guyana and buys rice from Guyana under the deal.





Guyana's Finance Minister told local sources that Venezuela has decided to cancel the deal with

Guyana as it has secured shipments from Suriname and has enough local production to meet the

domestic demand. Local media is also reporting that Venezuela has signed a new rice deal with

Uruguay, and the deal would help Uruguay to clear off its $400 million debt it accumulated from

taking Venezuela's oil at concessionary rates.

The Minister also noted that Venezuela has hinted that it may buy rice from Guyana next year to

support its buffer stocks. He said that Venezuela has shown interest in working with Guyana to

pursue rice markets together. For instance, the Venezuelan authorities have proposed that they

would help Guyana in shipping its rice to other countries. Guyana will be allowed to bring rice to

an office set in Venezuela's borders and from there, it could ship rice to its destination markets.

However, the destination markets should have a good relation with Venezuela.

He noted that though the two options proposed by Venezuela are difficult to get into action, a

team from Guyana has been invited to discuss the options.

However, with the expiration of the PetroCaribe deal, Guyana is under pressure to find new

markets for its rice. Under the existing oil for rice agreement, Guyana is expected sells about

210,000 tons of paddy and polished rice annually to Venezuela.

Thailand Rice Exports Increase Sharply in

May 2015

Jul 09, 2015

Thai rice exports increased sharply in May 2015 after declining about 11% m/m in April 2015,

according to data from Thai Rice Exporters Association (TREA). Thailand has exported around

945,597 tons of rice in May 2015, up about 35% from around 700,011 tons exported in April

2015, and up about 7% from around 881,212 tons exported in May 2014, according to TREA.

The increase is attributed to an expected decline in supply in Thailand as well as globally owing

to drought-inducing El Nino weather pattern.

In value terms, Thailand’s rice exports earned about $416.22 million from total rice exports in

May 2015, up about 22% from around $340.10 million earned in April 2015, and down about

2.5% from around $427.12 million earned in May 2014.

In May 2015, white rice exports accounted for around 416,991 tons (about 44% of total May

2015 exports), Hom Mali rice exports accounted for about 106,731 tons (about 11% of total May

exports), brokens accounted for 182,796 tons (about 19% of total May 2015 exports), glutinous





variety accounted for 20,688 tons (about 2% of total May 2015 exports), parboiled rice

accounted for about 211,696 tons (about 22% of total May 2015 exports) and husked/brown rice

accounted for about 6,695 tons (about 0.7% of total May 2015 exports).

Average export prices of all varieties of rice except husked rice have declined during the month.

Average export prices of broken rice witnessed the highest decline of about 10% month-on-

month in May 2015, while average export prices of husked rice increased by about 6% month-

on-month during the month.

Thailand exported around 3.77 million tons of rice in the first five months of 2015, down about

1.3% from around 3.82 million tons exported during the same period last year. Thai government

is keen on exporting over 10 million tons of rice this year.





India Basmati Rice Exports May Increase by

10% in FY 2015-16 Due to Steady Demand,

Says APEDA Official

Jul 09, 2015

India, which exported around 3.7 million tons of basmati rice in FY 2014-15 (April - May), is

expected to export around 4 million tons of basmati in FY 2015-16 due to a steady demand, local

sources quoted the Director of the Basmati Export Development Foundation, Agricultural &

Processed Food Products Export Development Authority (APEDA).





He noted that India's basmati rice exports were affected in FY 2014-15 due to Iran imposing a

temporary ban on imports citing surplus domestic availability. Iran imported around 900,000

tons of basmati rice from India in FY 2014-15 compared to 1.44 million tons in FY 2013-14.

However, he noted that this year, the situation has stabilized and export demand from other

countries like Saudi Arabia is expected to compensate for the Iran shortfall. Saudi Arabia

remained the top importer of Indian basmati rice in FY 2014-15 with around 966,931 tons,

according to the APEDA data.

India exported around 780,090 tons of basmati rice in the first two months of FY 2015-16, up

about 25% from around 622,135 tons during the same period in FY 2014-15, according to

APEDA, though it started on a low note in April.

However, farmers are expected not to increase basmati rice acreage in this kharif season based

on last year's experience of low demand and low prices, according to the Executive Director of

the All India Rice Exporters' Association (AIREA). Basmati rice acreage increased about 31% to

around 2.1 million hectares in 2014-15 from around 1.6 million hectares in 2013-14.

In 2014-15, domestic basmati paddy prices fell to around Rs.2,300-2,500 per quintal (around

$362-$394 per ton) from around Rs.3,500-4,000 (around $551-$630 per ton) in 2013-14 mainly

due to low shipments to Iran.

Separately, following an impleading petition by the Patiala Basmati Growers Association,

Punjab in the Intellectual Property Appellate Board (IPAB) in the ongoing litigation between the

APEDA and the GI Registry in the issue of including more areas to be recognized under GI for

basmati, the IPAB has posted the case for final hearing on November 3 and ordered all the

parties to file their written arguments by October. Already, the IPAB has accepted impleading

cases by a farmers' group in Madhya Pradesh and Pakistan Basmati Growers Association (BGA).

Oryza Afternoon Recap - Chicago Rough

Rice Futures Supported by Rising Grains as

Chinese Markets Stabilize and as Traders

Prepare for Tomorrow's USDA Reports

Jul 09, 2015

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Chicago rough rice futures for Sep delivery settled 4 cents per cwt (about $1 per ton) higher at

$11.050 per cwt (about $244 per ton). The other grains closed higher as well today; Soybeans

closed about 2.8% higher at $10.1575 per bushel; wheat finished about 0.1% higher at $5.7800

per bushel, and corn finished the day about 1% higher at $4.2875 per bushel.

U.S. stocks more than halved gains on Thursday as optimism faded after an opening rebound on

the jump in Chinese stocks overnight. The Dow Jones industrial average traded about 70 points

higher after surging as much as 249 points in the open as the major averages briefly jumped

nearly 1% or more. Germany's Finance Minister Wolfgang Schaeuble conceded on Thursday that

Greece would need some debt restructuring as part of any new loan program to make its

economy viable, Reuters reported. The cash-strapped government is expected to submit

proposals by midnight Thursday. The Shanghai Composite shot 5.8% higher on Thursday for its

best day in six years after China instituted new supportive measures, including restrictions on

short selling and loosening of margin lending regulations. European stocks also surged, with the

DAX up more than 2.5%, as investors remained hopeful of a Greece proposal before the Friday

deadline. Political talks over Greece must produce a strong outcome on Sunday for the European

Central Bank to provide continued support, while there's only "very low" leeway to reprofile

Greece's debt, euro zone leaders said, according to Reuters. On the domestic front, weekly

jobless claims gained slightly to 297,000, the highest level since February. There are several

Federal Reserve speakers on the calendar ahead of Fed Chair Janet Yellen's speech Friday. The

Dow Jones Industrial Average traded up 125 points, or 0.72%, at 17,641. The S&P 500 traded up

15 points, or 0.71%, at 2,061, with financials leading eight sectors higher and utilities and

telecommunications the only decliners. The Nasdaq traded up 45 points, or 0.92%, at 4,955.

Gold is trading about 0.3% lower, crude oil is seen trading about 2.5% higher, and the U.S.

dollar is seen trading at about 0.4% higher at about 1:15pm Chicago time.

Wednesday, there were 1,173 contracts traded, up from 1,033 contracts traded on Tuesday. Open

interest – the number of contracts outstanding – on Wednesday increased by 49 contracts to

9,351.

FAO Global Rice Price Index Declines for

Tenth Consecutive Month

Jul 09, 2015





The FAO All Rice Price Index declined to around 213 points in June 2015, down about 0.9%

from around 215 points in May 2015 due to a decline in all sub-indices. The market weakness

was pervasive, dominating all market segments and virtually all origins, says the FAO.

The FAO index has been declining continuously since September 2014. It declined about 11%

during the 10-month period.

The Higher Quality sub-index declined about 2 points or about 1% to around 184 points, while

the Lower Quality Indica sub-index declined about 2 point, or about 1% to around 188 points in

June 2015. Japonica sub-index declined by about 1 points, or about 0.3% to around 265 points

this month from around 266 points last month. The Aromatic sub-index declined by about 3

points or about 1.6% to around 182 points in June 2015. The decline in Aromatic sub-index is

mainly due to large production surpluses and a continued subdued import demand, according to

the FAO.

In January - June 2015, the FAO All Rice Price Index averaged 218 points, down about 7.3%

from around 235 points during the same period last year. Sub-index for higher quality Indica rice

prices declined about 9.6% y/y and sub-index for lower quality Indica rice prices declined about





5.4% y/y. Aromatic rice price sub-index declined about 28% y/y. However, sub-index for

Japonica rice prices increased about 4% y/y.

According to the FAO, rice export prices in the Asian origins such as Vietnam, India, Pakistan

and Thailand declined due to continued strong competition for markets. Export prices in the

U.S., Argentina and Uruguay also declined due to slow export sales.

During June 2015, average rice export prices of Thai 100% broken rice, Thai parboiled rice, Thai

fragrant rice, Thai 5% rice and Thai 25% rice declined to around $385 per ton, $382 per ton,

$1,048 per ton, $376 per ton and $365 per ton respectively. Average export prices of Thai A1

Super increased slightly to $327 per ton. Export prices of Vietnam 25% broken rice remained

firm this month while those of Pakistan and India declined to around $346 per ton and $344 per

ton respectively. Export prices of the U.S. and Uruguay rice declined to around $485 per ton and

around $538 per ton respectively.

Iraq Seeks to Purchase 30,000 Tons of Rice in

International Tenders

Jul 09, 2015

Iraq has invited international tenders to purchase about 30,000 tons of rice from U.S., Uruguay,

Argentina and India, Bloomberg quoted a statement from the Iraq's Trade Ministry.

Last date for submitting bids is July 15, 2015 and offers remain valid till July 21, 2015.

Oryza U.S. Rough Rice Recap - Prices

Continue to Firm as Futures Rally; Iraq

Issues New Tender

Jul 09, 2015

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Oryza.com -

The U.S. cash market was firmer today despite disappointing export sales as the futures market

remains on fire and sellers are holding out in expectation of higher prices before the end of the

marketing year.

Today the USDA reported that cumulative net export sales for the week ending on July 2nd

,

totaled 9,400 tons, which was 86% lower than last week and the prior 4-week average.

Increases were reported for the following destinations including: 10,600 tons to Guatemala

including 6,000 tons unknown destinations, 1,700 tons to Canada, 900 tons to Mexico, 600 tons

to Libya, and 300 tons to the United Arab Emirates. Net sales of 1,200 tons were reported for

2015/2016 including 700 tons to the United Arab Emirates and 500 tons to Jordan.

U.S. rice exporters shipped 104,400 tons, which was considerably higher than last week

and 52% higher than the prior 4-week average. The primary destinations included: 24,700 tons





to South Korea, 24,100 tons to Japan, 23,500 tons to Turkey, 7,300 tons to Mexico, and 7,100

tons to Libya.

In the meantime, The IGB is seeking to buy either U.S., Uruguayan, Argentine, or Indian origin

and offers need to be submitted no later than July 15th

and must remain valid through July 21st.

EU 2015-16 Rice Imports to Increase 3.5%

y/y to 1.18 Million Tons

Jul 09, 2015

The European Union's 2015-16 (September - August) rice imports are forecasted to increase

about 3.5% to around 1.18 million tons from an estimated 1.14 million tons, , according to the

report "Rice Market", issued by EU Committee for the Common Organisation of Agricultural

Markets on June 25 2015.

While Japonica rice imports are forecasted to decline about 11% y/y to around 80,000 tons,

Indica rice imports are forecasted to increase about 5% y/y to around 1.1 million tons.

The EU's 2015-16 rice exports (to third countries) are forecasted to increase about 2% to around

270,000 tons from an estimated 265,000 tons. Exports of Japonica rice varieties are forecasted to

increase to 245,000 tons from an estimated 240,000 tons and exports of Indica rice varieties are

forecasted to remain stable at 25,000 tons.

The EU's 2015-16 rice production is forecasted to increase to around 1.715 million tons, up

about 5% from an estimated 1.637 million tons in 2014-15. Production of Japonica rice varieties

is forecasted to increase about 9% to around 1.19 million tons from an estimated 1.089 million

tons last year; and production of Indica rice varieties is forecasted to decline about 4% to around

525,000 tons from an estimated 548,000 tons last year.

Total area under rice is forecasted at around 423,000 hectares, up about 2% from an estimated

414,000 hectares last year. While area under Japonica varieties is forecasted to increase about

8% y/y to around 313,000 hectares, area under Indica varieties is forecasted to decline about

10% y/y to around 111,000 hectares.

More than half of European area is located in Italy, with 220,000 hectares (190,000 has sowed

with Japonica, the rest with Indica varieties), followed by Spain, (110,220 hectares, half Japonica





and half Indica), Greece (28,690 hectares, of which 20,060 has Japonica and 8,600 Indica),

Portugal (27,940 hectares, of which 17,000 hectares are Japonica and 10,940 hectares are

Indica), France (12,000 hectares), Romania (11,500 hectares), Bulgaria (9,870 hectares) and

Hungary (3,000 hectares). The data about areas and production are estimates by EU member

states, apart from Bulgaria (same data as a year prior) and Hungary (estimates by Copa-Cogeca).

Brazil Rice Stocks Decline Slightly to 127,970

Tons in June 2015

Jul 09, 2015

Brazil rice stocks stood at around 127,970 tons in June 2015, slightly down from around 128,120

tons in May 2015 and down about 76% from around 540,961 tons in June 2014, according to the

country's national grain supplying agency Conab.

According to Conab, rice stocks with the Selling Option Contract of Agricultural Products

(OPCAO) as well as Federal Government Acquisition (AGF) have remained unchanged at last

month's level of around 75,732 tons and 52,213 tons respectively. They were down about 77%

and 75% respectively from their year ago levels. Rice stocks with farmers (Agricultural Familiar)

stood at around 25 tons in June 2015, down 86% from around 175 tons in May 2015 and down

about 96% from around 595 tons in June 2014. In June 2015, Brazil’s National Grains Supply

Company (Conab) has forecasted the country's 2014-15 paddy rice production at around 12.544

million tons (around 8.53 million tons, basis milled), up about 3.5% from around 12.121 million

tons (around 8.24 million tons, basis milled) in 2013-14, and slightly up from its May forecast of

around 12.399 million tons

10th july (friday),2015 daily exclusive oryza rice e newsletter by riceplus magazine

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