12th February,2015 Daily Exclusive ORYZA Rice E_Newsletter by Riceplus Magazine

8/9/2019 12th February,2015 Daily Exclusive ORYZA Rice E_Newsletter by Riceplus Magazine

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Daily Exclusive ORYZA Rice E-Newsletter

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Daily Exclusive ORYZA Rice Newsletter

Volume 5, Issue I

February 12, 2015


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Guyana Releases Two New Hybrid Rice

Varieties

Feb 11, 2015

Guyana's Ministry of Agriculture and the Guyana

Rice Development Board (GRDB) have released two

new hybrid rice varieties - GRDB 14 and Maria's

Delight aromatic rice - on February 11, 2015 at the

Guyana International Conference Center.Both the

varieties are developed at the Burma Rice Research

Station (BRRS) situated in Essequibo. While GRDB

14 is a high-yielding variety and is resistant to

lodging, Maria's Delight is the country's first aromatic

rice variety and is resistant to pests and disease attacks, according to the Chief Scientist and

Plant Breeder at the GRDB. They are developed by cross-breeding local rice varieties and are

aimed at boosting productivity of the country. Particularly the aromatic rice variety is capable of

yielding 45 bags per acre (around 113 bags per hectare) and has excellent milling and cooking

qualities apart from having a uniform expression of aroma, he said.

He told local sources that Guyana has been striving to develop more pest resistant rice varieties

and will continue to put more efforts in that direction. He added that BRRS and GRDB, through

development and marketing of newer rice varieties, would play a major role in Guyana's efforts

to find new export markets.Guyana's President, who launched the two new varieties, noted that

Guyana is currently a very small player in the international rice market and have to achieve a lot

more to prove their visibility in the market. He stressed that the future of local rice industry

would depend on their efficiency in developing more aromatic rice varieties and increasing

production. He assured that the government would provide requisite support for the continued

growth, development and prosperity of the rice industry.Guyana has exported around 501,208

tons of rice in 2014, up about 27% from around 394,000 tons exported in 2013, according to theAgriculture Minister


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California Rice Sector to Hit by Port

Closures

Feb 11, 2015

Problems of dock workers and terminal

operators in the U.S. West Coast ports are

having a ripple effect in the economy.

Especially agriculture exports, including

those of rice, are being affected

significantly.Nearly 80% of the rice

grown in California is medium-grain rice

and is exported through the port of West

Sacramento and Oakland port to the

countries in the south Pacific. But strikes

and closures by the dock workers and

terminal operators due to some issues over

contract terms have been delaying the shipment of rice to destination countries causing severe

losses to the exporters.

Some exporters told local sources that many of their rice containers are having to wait at the

docks idly. For every one day their rice containers wait at docks, they need to pay extra fees,

they added. They expressed concerns that though authorities tried to settle the ongoing labor

disputes shortly, it is not certain when the operations would return to normal. Similar port

lockouts due to labor disputes occurred in 2002. They came to an end with the involvement of

the then U.S. President.

California rice sector had been impacted by drought last year. The state's paddy rice acreage in

2014 had declined to around 420,000 hectares, down about 25% from around 525,000 hectares

planted in 2013 due to prolonged dry conditions and water shortages. California is the second

largest rice producing state in the U.S. after Arkansas, and contributes to around 2 million tons of

paddy rice annually or about 25% of the total rice grown in the U.S. The state's rice sectoremploys about 25,000 people and most of rice grown here is exported.Currently, export prices of

the U.S. medium grain rice stand at around $905 per ton, down about 1% from around $915 per

ton in the beginning of this year.


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Brazil Exports 69,913 Tons of Rice in

January 2015

Feb 11, 2015

Brazil has exported

around 69,913 tons of rice

in the first month of 2015,

according to data released

by the Rice Institute of

Rio Grande do Sul(IRGA). Cuba remained

the largest importer of

Brazilian rice in January

2015 with around 36,967

tons, or about 53% of

Brazil's total rice exports

during the month.

Switzerland accounted for

around 16,471 tons (about

24% of Brazil's total exports during the month); Bolivia accounted for around 7,927 tons (about

11% of Brazil's total exports during the month); Trinidad Tobago accounted for 1,836 tons

(about 3% of Brazil's total exports during the month); and the U.S. and Chile accounted for 2%

and 1% of Brazil’s total rice exports during January 2015 with 1,491 tons and 1,001 tons

respectively.

Angola, Panama, Belgium, Saudi Arabia, Cape Verde, Namibia, Barbados, Uruguay, Antigua

and Barbuda, Guinea, Netherlands Antilles, Lithuania. Bahamas, Portugal and Paraguay

accounted for the remaining 6% or around 4,220 tons of Brazil's total rice exports in January

2015.Brazil exported around 1.24 million tons of rice in 2014, up about 2.4% from around 1.209

million tons exported in 2013, according to data from IRGA.


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Iran May Lift Ban on Rice Imports in March

2015, Say India Commerce Ministry Officials

Feb 11, 2015

Iran, which imposed a temporary ban on rice imports in November 2014 citing excess stocks as

reason, is likely to lift the ban in March this year, local sources quoted the officials from

Indian Commerce Ministry as saying.As Iran is an important destination for India's basmati rice

exports accounting to over 30% of India's total basmati rice exports, Indian exporters as well as

the government have been trying to negotiate with Iran over resuming the basmati rice imports.

A team of Ministry officials who visited Iran recently told local sources that Iranian authorities

have assured them that the ban on rice imports would be lifted shortly as the supply glut in their

domestic market has eased substantially.

“Iranian officials have indicated that they will resume the

process of re-registration of Basmati suppliers. The

country is supposed to come up with its notification (on

lifting curbs) on March 21," a Commerce Ministry

official was quoted as saying.However, Ministry sources

noted that the volume of basmati imports to Iran may not

be as high as before as the Middle East nation is still

carrying a good amount of stocks. The Ministry is

expecting that Iran would import around 800,000 to one million tons in 2014-15. India exported

around 1.44 million tons to Iran in FY 2013-14 (April - March), up about 33% from around 1.08

million tons exported in FY 2012-13, according to data from Agricultural and Processed Food

Products Export Development Authority (APEDA).

India exported around 3.76 million tons of basmati rice in FY 2013-14, up about 9% from around

3.46 million tons exported in FY 2012-13. India exported a total of 10.78 million tons of rice

(including basmati and non-basmati) in FY 2013-14, up about 6% from about 10.15 million tons

exported last year.

Thailand, Pakistan Rice Sellers Lower Their

Quotes Today; Other Asia Rice Quotes

Unchanged


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Feb 11, 2015

Thailand rice sellers lowered their quotes for Hommali rice by about $5 per ton to around $920 -

$930 per ton today. Pakistan rice sellers lowered most their quotes by about $5 - $15 per ton.Vietnam and India rice sellers kept their quotes mostly unchanged.

5% Broken Rice

Thailand 5% rice is quoted at around $405 - $415 per ton, about $55 per ton premium on

Vietnam 5% rice shown at around $350 - $360 per ton. India 5% rice is quoted at around $395 -

$405 per ton, about $50 per ton premium on Pakistan 5% rice quoted at around $345 - $355 per

ton.

25% Broken Rice

Thailand 25% rice is quoted at around $365 - $375 per ton, about $40 per ton premium on

Vietnam 25% rice shown at around $325- $335 per ton. India 25% rice is quoted at around $360

- $370, about $55 per ton premium on Pakistan 25% rice quoted at around $305 - $315 per ton,

down about $5 per ton from yesterday.

Parboiled Rice

Thailand parboiled rice is quoted at around $405 - $415 per ton. India parboiled rice is quoted at

around $390 - $400 per ton, about $5 per ton premium on Pakistan parboiled rice quoted at

around $385 - $395 per ton, down about $10 per ton from yesterday.

100% Broken Rice

Thailand broken rice, A1 Super, is quoted at around $320 - $330 per ton, about $15 per ton

premium on Vietnam 100% broken rice shown at around $305 - $315 per ton.

India's 100% broken rice is shown at around $295 - $305 per ton, about $20 per ton premium on

Pakistan broken sortexed rice quoted at around $275 - $285 per ton, down about $15 per ton

from yesterday.

Oryza Overnight Recap – Chicago Rough

Rice Futures Look to Recover Following two


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Sessions of Steep Losses and as Traders

Digest Yesterday’s S&D Update

Feb 11, 2015

Chicago rough rice futures for Mar delivery are currently listed 7.5 cents per cwt (about $2 per

ton) higher at $10.310 per cwt (about $227 per ton) during early floor trading in Chicago. The

other grains are seen trading mostly higher: soybeans are currently seen about 0.5% higher,

wheat is listed about 0.3% higher and corn is currently noted about 0.2% lower.U.S. stock traded

mixed on Wednesday as investors focused on developments in Greece's negotiations with the

euro zone finance ministers.

Blue chips and the S&P 500 traded moderately lower. All eyes will be on the outcome of the

Eurogroup meeting that begins at 11:30 a.m. ET. Greek Finance Minister Yanis Varoufakis is

expected to ask for a "bridge program" to cover the government's funding needs while a new

debt pact is agreed. European equities traded lower ahead of the Eurogroup meeting of finance

ministers. Little economic data is expected aside from the release of the monthly Federal Budget

statement at 2:00 p.m. ET.

With slightly higher interest rates, weekly mortgage applications were down 9% on a seasonally

adjusted basis, the Mortgage Bankers Association said. The Dow Jones Industrial Average traded

down 63 points, or 0.36%, at 17,807. The S&P 500 traded down 3 points, or 0.14%, at 2,065,

with utilities the greatest of seven laggards and consumer staples leading advancers. The Nasdaq

gained 6 points, or 0.13%, at 4,793. Gold is currently trading about 0.7% lower, crude oil is seen

trading about 2.6% lower, and the U.S. dollar is currently trading about 0.3% higher at 8:30am

Chicago time.

Uganda to Receive Korean Support to Boost

Upland Rice Production

Feb 11, 2015

The Korean Rural Community Corporation (KRCC) will guide the Ugandan government to

increase rice production in upland rice areas as well as effectively make use of the modern

farming technologies, according to local sources. The President of the KRCC who visited

Uganda met with a team of officials from the Agriculture Ministry led by the Agriculture

Minister and decided on the plan of action.


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Uganda's Agriculture Minister noted that the two sides

identified certain upland regions such as Pallisa, Kibuku

and R.Mpologoma where rice production could be

enhanced. He also noted that the two sides have agreedon new areas of cooperation, including the introduction

of information communication and technology (ICT)

tools in rice production. The Agriculture Minister also

stated that Korea has agreed to support Uganda in

coordinating roundtable meetings in East Africa, which are aimed at framing strategies for rural

development.

Uganda produces only 65% of the rice needed for its annual consumption and imports the rest.

Like other African countries, Uganda is also aiming to increase local rice production and reduce

imports. USDA estimates Uganda to produce around 150,000 tons of milled rice and importaround 120,000 tons in MY 2014-15 (May - April) to meet a consumption demand of around

230,000 tons.

ABARES Forecasts Australia 2014-15 Paddy

Rice Production at 684,000 Tons, Down 18%

from Last Year

Feb 11, 2015

Australia's paddy rice production in MY

2014-15 (April 2014 - March 2015) is

estimated to decline to around 684,000

tons (around 492,000, basis milled),

down about 18% from an estimated

833,000 million tons (around 600,000

tons, basis milled) in MY 2013-14,according to data from the Australian

Bureau of Agricultural and Resource

Economics and Sciences (ABARES).In

its February crop outlook report, the

ABARES attributes the decline in paddy

rice production to a decline in planting area during the marketing year reflecting reduced


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supplies of irrigation water in the main rice producing region of New South Wales. It also

expects the yields to return to normal from the above average yields last year.

2014-15 paddy rice planting area is expected to decline about 6.5% to around to 71,000 hectaresfrom an estimated 76,000 hectares in the previous year. It estimates the country's paddy rice

yield to decline about 12% to around 9.63 tons per hectare from around 10.96 tons per hectare

last year.About 99% of paddy rice is produced in New South Wales. In its February crop outlook

report, the ABARES estimated the paddy rice production in the region at around 680,000 tons

(around 490,000 tons, basis milled) from around 70,000 hectares of planted area. The region is

expected to produce a yield of about 9.71 tons per hectare during the marketing year.

Australia mostly grows short/medium rice varieties that are suited to its dry temperate micro-

climate. Some of the popular rice varieties grown in Australia include Amaroo, Reiziq, Quest,

Jarrah, Koshihikari, Opus, Illabong, Langi, Doongara and Kyeema. According to ABARES, allcropping areas of Australia received average rainfall from November 1, 2014 to January 31,

2015. However, the Bureau of Meteorology forecasts a slightly warmer temperatures from

February 1 - April 30, 2015.

USDA estimates Australian paddy rice production to decline to around 700,000 tons (around

504,000 tons of rice, basis milled) in MY 2014-15 (April - March), down about 15% from an

estimated 833,000 tons of paddy rice (around 600,000 tons of rice, basis milled) produced last

year. It estimates Australia to produce a yield of 10 tons per hectare during the marketing year,

down about 9% from around 10.96 tons per hectare produced last year.

Global Rice Quotes

February 11th, 2015

Long grain white rice - high quality

Thailand 100% B grade 415-425 ↔

Vietnam 5% broken 350-360 ↔

India 5% broken 395-405 ↔

Pakistan 5% broken 345-355 ↔

Myanmar 5% broken 410-420 ↔

Cambodia 5% broken 430-440 ↔

U.S. 4% broken 480-490 ↔


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Brokens

Thailand A1 Super 320-330 ↔

Vietnam 100% broken 305-315 ↔

Pakistan 100% broken stxd 275-285 ↓

Cambodia A1 Super 365-375 ↔

India 100% broken stxd 295-305 ↔

Egypt medium grain brokens NQ ↔

U.S. pet food 380-390 ↔

Brazil half grain NQ ↔

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

Oryza Afternoon Recap - Chicago Rough

Rice Futures Bounce Higher as Market

Attempts to Establish Price Floor; Grains

Recover Despite Continued Weakness inCrude

Feb 11, 2015

Chicago rough rice futures for Mar delivery settled 14.5 cents per cwt (about $3 per ton) higher

at $10.380 per cwt (about $229 per ton). Rough rice futures bounced higher today as the market

continues to attempt put in a firm bottom before a true recovery can get underway. Market

participants appear to be taking a wait and see attitude when it comes to increasing buy orders ina meaningful way. The recent pattern of back-and-forth trading is indicative of a market that is in

the process of forming a low and indicates that a recovery to the upside should soon follow. The

other grains finished the day mostly higher as the market looked to shake off losses sustained

yesterday in the wake of the release of the USDA’s S&D update; Soybeans closed about 0.9%

higher at $9.7775 per bushel; wheat finished about 0.8% higher at $5.2575 per bushel, and corn

finished the day about 0.6% lower at $3.8575 per bushel.


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U.S. stocks traded mostly lower on Wednesday as investors focused on developments in Greece's

negotiations with the euro zone finance ministers. The Dow Jones Industrial Average fell more

than 100 points before recovering to trade about 80 points lower in early afternoon trade in the

absence of official announcements out of the Eurogroup meeting. Greek and European officialsin Brussels discussed on Wednesday what could constitute a “bridge agreement'' for Greece once

its bailout expires on Feb. 28, a Greek government official told Reuters. The meeting took place

"in a very good climate'', the official added.

The Eurogroup meeting will likely be just part of the continuing negotiations as euro zone and

Greek leaders have several scheduled discussions over the next few days. The Dow Jones

Industrial Average traded down 100 points, or 0.57%, to 17,766. The S&P 500 traded down 8

points, or 0.37%, to 2,061, with utilities leading declines and information technology and

consumer staples the only advancing sectors. The Nasdaq traded down 1 point, or 0.03%, to

4,786. Gold is trading about 1.1% lower, crude oil is seen trading about 2.2% lower, and the U.S.dollar is seen trading about 0.3% higher at about 1:00pm Chicago time.Tuesday, there were

2,340 contracts traded, up from 795 contracts traded on Monday. Open interest – the number of

contracts outstanding – on Tuesday decreased by 103 contracts to 10,443.

Vietnam's Dong Thap Province Proposes to

Adopt Paddy Stockpiling Policy

Feb 11, 2015

The Dong Thap provincial government in Vietnam's Mekong

Delta region has proposed to the Central government that it

would adopt paddy stockpiling policy to curb price falls during

the harvest time of the winter-spring crop, according to

Bloomberg.The provincial government plans to buy around

350,000 tons of rice from now to March 15 and stockpile it for

four months to protect prices from falling. Paddy prices are

understood to have declined since the beginning of February. However, the price at which it is

planning to procure paddy is not known.

The province harvested only 35% of the winter-spring crop and the output from the harvest is

likely to peak in March 2015.Vietnam government introduced the paddy stockpiling policy last

year and encouraged traders and millers to buy paddy from farmers and stockpile it but it could

not effectively control price falls as many traders and millers were not ready to procure paddy

due to storage problems.

12th February,2015 Daily Exclusive ORYZA Rice E_Newsletter by Riceplus Magazine

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