7april 2014 ,(unedited) oryza news by riceplus magazine

Oryza U.S. Rough Rice Recap – Bids Inch Higher to Better Compete With Smaller Domestic Mills

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Apr 04, 2014

As of today, old crop offers could be found as low as $15.55 per cwt fob farm (about $343 per ton) for nearby shipment however most farmers are on the sidelines waiting to sell when prices get to closer to $16.11 per cwt fob farm (about $355 per ton). Bids from larger mills increased today to around $15.50 per cwt (about $342 per ton) for April-May delivery while bids for exporters could still be found around $15.40-$15.65 per cwt (about $340-$345 per ton), for the same delivery period, however there are reports of smaller mills paying as much $16.33 per cwt (about $360 per ton) for prompt delivery.Tags: U.S. rice prices, U.S. rice market, Rice Prices, U.S. rice sales, U.S. paddy rice

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bids-inch-higher-better-compete-smaller-domestic#sthash.7sYafAr2.dpuf Oryza White Rice Index – Bounces Off Support at $450 per Ton as Thailand Rice Quotes Recover, Slightly

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Apr 04, 2014

The Oryza White Rice Index, a weighted average of global white rice export quotes, ended the week at $453 per ton, up about $2 per ton from a week ago, down about $5 per ton from a month ago and down about $36 per ton

from a year ago. The decline in Thailand rice quotes seems to have stabilized but the near-term outlook is uncertain. Competition among Asian rice exporters is heating up with Thailand’s government increasing sales of their stocks (currently around 10-13 million tons, according to the Commerce Minister) and seeking to sell at least one million tons of rice every month.  Thailand is now the cheapest origin in Asia; India is the most expensive followed by Pakistan and then Vietnam.  Despite the relative premium for Indian rice exports, India is expected to remain the largest rice exporter this year, according to FAO estimates. Meanwhile, Cambodia, Pakistan, Vietnam, Thailand, and the U.S. are expected to increase their rice exports. Global rice trade is expected to increase about 5% from the previous year to reach 39 million tons due to anticipated higher imports in Bangladesh, Nigeria, Senegal, China, Indonesia, and the Philippines.  FAO estimates global rice production will increase to 497 million tons in 2013-14, up 1% y/y but down FAO’s previous estimate of 501 million tons due to expected droughts in Australia, Peru, Sri Lanka, and Tanzania, and the removal of price supports in Thailand.  Thailand’s government assures millers and exporters it will focus on selling to exporters through auctions rather than direct sales in efforts to maintain rice price stability.  The world will be watching while Thailand, Vietnam, and India (if they so choose) jockey for a larger portion of the market and seek rice price stability. International weather agencies continue to increase their predictions for the likeliness of an El Nino weather pattern in 2014.  Scientists in Japan, the U.S., and Australia have predicted as much as a 75% chance for El Nino this summer, but the chief of the Indian Meteorological Department claims increased probability is just a rumor western countries are spreading to manipulate rice prices in India and other Asian countries.  Weather experts in Peru are also concerned about El Nino, which could exacerbate the country’s already-existing rice production problems. El Nino could severely impact India’s rice production for the main crop and potentially result in much lower rice exports next year, a possible boon for the future of Thailand’s rice export sector.  Thailand Thailand 5% broken rice is today quoted at about $385 per ton, up about $5 per ton from a week ago, down about $35 per ton from a month ago and down about $155 per ton from a year ago. Thailand’s Department of Foreign Trade is planning to sell about 570,000

tons of rice in auction April 9-10, according to local sources. In the first two months of 2014, Thailand exported 1.4 million tons of rice, an increase of 40% over the same period in 2013, according to the Thai Customs Department.  If that pace maintains, Thailand may export as much as 8.4 million tons in 2014, 27% more than the 6.6 million tons exported in 2013.  India India 5% broken rice ended the week at about $430 per ton, unchanged from a week ago, up about $10 per ton from a month ago and down about $15 per ton from a year ago. The Commission on Agricultural Costs and Prices (CACP) may encourage the government to increase the minimum support price of common grade paddy to about Rs. 1,360 quintal (about $227 per ton) for the crop year 2014-15 (July-June), according to Bloomberg.  This is about 4% more than the current price of Rs. 1,310 per quintal (about $220 per ton).  The recommendation is expected to be approved by the Indian government. The USDA Post expects rice procurement by the Indian government to decline to about 31 million tons in MY 2013-14, down about 10% from MY 2012-13. India’s Andhra Pradesh state has seen its rice production affected by power and water shortages over the last few years, leading many farmers to shift to crops requiring less water, like cotton.  Andhra Pradesh is the third largest rice-producing state in India and while declining production there could be a problem, most scientists think high-yielding rice varieties will compensate for the decreased acreage. Over 80% of rice mills in eastern Nepal have shut down in recent years, due to increased competition from Indian rice imports, according to local sources. A water crisis in northern Bangladesh may result in Bangladesh’s Boro rice (January-April) production being reduced by 250,000 to 300,000 tons.  The Indian government is extracting water from the Teesta River farther upstream from Bangladesh, and local sources believe this is contributing to Bangladesh’s shortage.  Correspondingly, the USDA Post says that Bangladesh will import less rice in MY 2014-15 (May-April) than in MY 2013-14 – about 75% less rice. Vietnam Vietnam 5% broken rice quotes are today shown at about $390 per ton, up

about $5 per ton from a week ago, down about $5 per ton from a month ago and unchanged from a year ago. Vietnam exported about 1.22 million tons of rice in the first quarter of 2014, down about 16% y/y from Q12013, according to the Vietnam Food Association (VFA), despite lower average rice export prices – which are down about 2% from Q1 2013.  About 70% of exports were sold to Asian markets.  Rice production in the Mekong Delta region may be negatively affected by drought and salinity this year, according to local sources.  Officials say rice yields may plummet by 30-40% this year due to salinity alone, which has increased due to saltwater intrusion from the oceans into the rivers. The Philippines seeks more origins for their April 15 open tender for 800,000 tons of 15% broken long-grain rice, according to the National Food Authority (NFA).  The government has invited Cambodia, Pakistan, India, and the U.S. to participate in the bid, in addition to the typical participants of Vietnam and Thailand. Most analysts were expecting Vietnam to win the bulk of the tender with Thailand to take the rest. Pakistan Pakistan 5% broken rice is today shown at about $410 per ton, unchanged from a week ago, up about $10 per ton from a month ago and down about $20 per ton from a year ago. Pakistan’s Federal Committee on Agriculture (FCA) announced a production target of 6.81 million tons (basis milled) in 2014-15, about 6% higher than the 6.4 million tons the USDA estimates Pakistan’s rice production to be in 2013-14. Meanwhile, inadequate storage facilities might cause Pakistan to lose a large portion of post-harvest rice.  The State Bank of Pakistan reports that typical losses are 10-35% and is introducing warehouse receipt financing to help farmers, traders, aggregators, processors, and exporters secure formal financing to set up quality storage facilities. Earlier this week, the Rice Exporters Association of Pakistan (REAP) and China’s Guangdong Provincial Grain Association (GPGA) signed a Memorandum of Understanding to promote cooperation in rice trade with the GPGA exploring investments in production, processing, and technology in Pakistan.  China hopes to import more Pakistani rice in the near future, potentially hedging its need for rice amid limited agriculture land and water. Rice exports in MY 2013-14 (November-October) will likely increase to a record-setting 3.9 million tons in MY 2013-14, according to the USDA Post. 

This is about 15% higher than earlier USDA official estimates of 3.4 million tons, and about 8% higher than MY 2012-13. Brazil Brazil 5% broken rice ended the week at $665 per ton, unchanged from the previous week and previous month. The Brazilian paddy rice index maintained by CEPEA stood at around 33.98 real per 50 kilograms on March 31, 2014, up slightly from around 33.75 real per 50 kilograms recorded a week earlier on March 24, 2014. In terms of USD per ton, the index increased to around $299.8 per ton on March 31, 2014, up about 3% from around $291 per ton recorded on March 24, 2014. U.S. U.S. 4% broken rice is today quoted at about $585 per ton, unchanged from a week ago, up about $5 per ton from a month ago, and down about $55 per ton from a year ago. The USDA predicts 2014 rice acreage in the U.S. will increase about 16% from the previous year  to 1.16 million hectares.  California and Texas are the only two rice-growing states where production is expected to decline (due to water shortages). Chicago rough rice futures for May delivery climbed steadily this week, gaining about 16 cents between Monday and Friday.  They opened Monday at $15.490 per cwt (about $341 per ton) and rose consistently, outside of a small dip in prices midweek. Prices recovered though, and ended the week with a high of $15.760 (about $347 per ton). The USDA announced the reinstatement of a letterhead statement assuring the global industry that U.S. rice is GM-free, the culmination of a years-long process to regain confidence in U.S. rice quality after contamination by GM-rice LibertyLink in 2007. Other Markets Uruguay and Argentina 5% broken rice is today shown at about $625 per ton, unchanged from a week ago and down about $5 per ton from a month ago. Cambodia 5% broken rice ended the week shown at $455 per ton, unchanged from a week and a month ago.In the first quarter of 2014, Cambodia exported only about 84,330 tons of rice, about 11% less than the same period in 2013, according to the

Secretariat of One Window Service of Rice Export Formality.  Most Cambodian rice is exported to the EU, Malaysia, and China. Paddy availability in Italy is low – more than 65% of paddy from the 2013-14 crop year has been sold as of April 1, and there are still six months left until the next harvest.  Meanwhile, Italian rice exports outside of the EU grew about 23% year-over-year, reaching 75,293 tons (basis milled) in the current marketing year (September 1, 2013 to March 25, 2014). South Korea is targeting 4.15 million tons in rice production for crop year 2014-15 (November-October), about 2% less than 2013, according to Reuters.  Rice acreage is declining as is rice consumption in the country, and rice farmers in the country are discouraging the government from proceeding with its plan to liberalize rice imports in 2014, ending its 20-year long rice import quota, according to Reuters.  The country has issued a tender to purchase 39,623 tons of non-glutinous rice with applications due April 14, according to Bloomberg. Local sources say drought conditions in northern Peru may reduce rice production by as much as 40% (800,000 tons) in 2014-15.  If El Nino occurs, this could be even more significant. The USDA Post now predicts that Jordan’s rice imports in 2014 will reach 185,000 tons, about 7.5% less than earlier official USDA estimates, due to decreasing consumption. Laos is looking to export rice to Brunei.  Currently, about 95% of Brunei’s imports are from Thailand, and they are looking to diversify their import originations. Malaysia is trying to end rice imports by 2020 by increasing domestic production, according to the Industry Minister.  The country currently produces about 70% of its rice needs and imports most of the rest from Vietnam.Tags: Oryza White Rice Index (WRI)- See more at: http://oryza.com/reports/oryza-wri/oryza-white-rice-index-%E2%80%93-bounces-support-450-ton-thailand-rice-quotes-recover#sthash.EvY1cD0J.dpuf

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Oryza Rice Currency Analysis for Today – Brazil Real Rallies 1.7%

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Apr 04, 2014

U.S. dollar index was down -0.07% from the open today, when it traded at 80.415 at the close. Euro was weaker -0.11% by the close, trading around 1.3705 by end of day, after trading between an intraday high of 1.3731 and low of 1.3673. Thai baht was stronger +0.07%, trading at 32.468 at the close of business. Indian rupee was stronger +0.15% at 60.0850. Brazilian real was stronger +1.73% at the close of trading today, trading at 2.2391 reais per dollar. Pakistan rupee was -0.01% weaker at 98.1950. Vietnamese dong was unchanged at 21093. Mexican peso was stronger +0.70% today, when it traded at 13.0255 pesos per dollar by the close of business. Chinese yuan was weaker -0.01%, trading at 6.2123. Argentine peso was weaker -0.01% at 8.0021 pesos per dollar.Tags: 

foreign exchange rates, currency trading, rice exporters, brazilian real, FX markets, trading exchange rates

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Oryza Afternoon Recap – Chicago Rough Rice Futures Finish Week on Positive Note; Most Grains End Session Down

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Apr 04, 2014

Chicago rough rice futures for May delivery settled 6 cents per cwt (about $1 per ton) higher at $15.760 per cwt (about $347 per ton). The nearby rough rice future contract finished the week on a positive note, despite losses for the day in all differed contracts. Today’s move for the May contract added to gains already logged earlier in the week, bringing the total price increase to 28 cents per cwt (about $6 per ton) for the week. The markets upward potential continues to be limited by the upper Bollinger band, which was noted at $15.780 per cwt (about $348 per ton) today. As this price envelope continues to widen it will release pressure on the market and will likely lead to a continuation of higher prices in the near-term. Today’s move provides a positive outlook for next week’s early trading. The other grains were mostly lower, with only corn being able to close in the black today; soybeans closed about 0.1% lower at $14.7375 per bushel; wheat finished about 0.9% lower at $6.7075 per bushel, and corn finished the day about 0.4% higher at $5.0275 per bushel. U.S. stocks spiraled lower in volatile trading Friday, with the Dow and S&P 500 retracting from their record highs, as losses in momentum names accelerated. The Nasdaq slumped more than 2 percent. For the second day, momentum stocks fell heavily. The Dow Jones Industrial Average traded lower after hitting a fresh high near the open. The blue-chip index briefly wiped out its losses for the year. The S&P 500 also declined and the Nasdaq tumbled more than 2%. Among key S&P sectors, techs led the laggards, while utilities held modest gains. Stocks initially opened higher, propelling the Dow and S&P 500 to fresh records, as Wall Street cheered the March nonfarm payrolls report that suggested the economy may be recovering from its slowdown. The U.S. created 192,000 new jobs in March after a gain of 197,000 in February, according to the Labor Department. The unemployment rate was unchanged at 6.7%. Economists polled by Reuters had expected employment to increase 200,000 last month and the unemployment rate to dip to 6.6%. Gold is trading about 1.3% higher, crude

oil is seen trading about 0.9% higher, and the U.S. dollar is seen trading marginally lower at about  1:00pm Chicago time. Thursday, there were 656 contracts traded, down from 874 contracts traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday increased by 63 contracts to 8,397.Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market, grain prices, rice trading- See more at: http://oryza.com/news/cbot/oryza-afternoon-recap-%E2%80%93-chicago-rough-rice-futures-finish-week-positive-note-most-grains#sthash.KtQwWbqZ.dpuf

Malaysia Plans to End Rice Imports by 2020

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Apr 04, 2014

Malaysia is likely to increase domestic rice production sufficiently to help end rice imports by 2020, the Agriculture and Agro-based Industry Minister told local sources.The Minister said that the government plan to increase local production includes improving rice quality, use of hybrid paddy seeds and good agriculture practices by farmers. He added that the government is encouraging farmers to produce rice in large-scale and is trying to provide finances to the farmers. The Minister also said that the government may soon increase paddy purchase price to about RM1,200 (around $365) per ton which will encourage farmers to grow quality rice.The minister said the Malaysian Agricultural Research and Development Institute (MARDI) will continue its research to produce quality seeds, such as aerobic paddy seeds, which require less water and can be planted three times a year.Currently, Malaysia produces around 70% of rice required for domestic consumption and imports the remaining quantity, mostly from Vietnam. According to the USDA, Malaysia’s rice production in MY 2013-14 is expected to reach around 1.8 million tons, against a demand for about 2.8 million tons. Malaysia is likely to imports around 1.1 million tons of rice in 2013-14, the USDA says.Malaysia imported about 658,120 tons of rice in 2013 from Vietnam, down about 14% from 764,692 tons in 2012, according to the Minister. The Minister said Malaysia stopped importing rice from Thailand mainly due to high prices. Malaysia has signed a memorandum of understanding (MOU) with Vietnam to increase rice imports from Vietnam and boost bilateral trade to $11 billion by 2015, up from the current $9 billion.Tags: Malaysia Rice Imports, Malaysia rice production

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Vietnam Exports 1.22 Million Tons Rice in January – March 2014; Down 16% from Last Year

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Apr 04, 2014

Vietnam has exported about 1.22 million tons of rice in the first quarter of 2014 (January – March), down about 16% from about 1.45 million tons of rice exported in first quarter of 2013, according to data from the Vietnam Food Association (VFA).Vietnam’s rice exports are down this year despite low prices. Average rice export price in Q1 2014 stands at about $435 per ton (FOB), down about 2% from about $442 per ton recorded in Q1 2013.In March 2014, Vietnam exported about 583,294 tons of rice, which is up about 76% from about 330,501 tons rice exported in February 2014, but down about 17% from about 706,483 tons rice exported in March 2013. Average export price in March 2014 stands at around $439 per ton, almost unchanged from a year ago, but down about 1% per ton from February 2014.Vietnam's rice exports in March 2014 include: 207,972 tons of 15% broken rice (about 36% of total rice exports in March 2014); 166,886 tons of 4% - 10% broken rice (about 29% of total rice exports in March 2014); 125,200 tons of aromatic rice (about 21% of total rice exports in March 2014); 53,525 tons Nep or glutinous rice (about 9% of total rice exports in March 2014); and 16,046 tons 25% broken rice (about 3% of total rice exports in March 2014).Asia was the major rice export destination for Vietnam rice in March 2014, accounting for about 450,438 tons or about 77% of total rice exports by Vietnam in the month. The Americas was the second largest destination, accounting for of about 66,440 tons of rice exports (equivalent to about 11% of total rice exports in March 2014). Vietnam also exported 47,961 tons of rice to Africa, about 11,077 tons of rice to Europe, about 6,802 tons of rice to the Middle East, and about 576 tons of rice to Australia in March 2014, according to VFA data.Tags: Vietnam rice exports, Vietnam rice prices- See more at: http://oryza.com/news/rice-news/vietnam-exports-122-million-tons-rice-january-%E2%80%93-march-2014-down-16-last-year#sthash.4RzWbeYW.dpuf

Research and Scientific Development: Scientists from Australia and India are expected to develop stress tolerant rice using Australian resurrection grass.http://oryza.com/news/research-development/australia-india-scientists-develop-stress-tolerant-rice-using-australian IRRI will provide technological support to the rice farmers in India's northeastern state of Assam to popularize water-resistant varieties.http://oryza.com/news/research-development/irri-provide-technological-support-popularize-water-resistant-rice A group of rice breeding scientists have selected six stress-tolerant rice varieties, which could increase yields by 40% in the African countries. http://oryza.com/news/research-development/stress-tolerant-rice-varieties-

boost-yields-40-africa The Burma Rice Research Station will soon introduce 20 new rice varieties, including salt resistant varieties and high-yielding varieties that can withstand adverse climatic conditions. http://oryza.com/news/rice-news/guyana%E2%80%99s-burma-rice-research-station-introduce-20-new-rice-varieties-soon IRRI has collaborated with the University of Hohenheim in Germany and a U.S.-based company to conduct tests on what IRRI calls is the "Wonder Rice Dryer" or "Solar Bubble Dryer." http://oryza.com/news/research-development/irri-scientists-developing-%E2%80%98wonder-rice-dryer%E2%80%99-small-scale-farmers The Chiayi Agricultural Experiment Station under the Taiwan Agricultural Research Institute has released the country's first locally developed nutritious high-yielding rice hybrid variety. http://oryza.com/news/research-development/taiwan-releases-first-locally-developed-hybrid-rice-variety The Philippine Rice Research Institute (PhilRice) has introduced the "Nutrient Manager" software to assist farmers in assessing the right amount and time of applying fertilizers.http://oryza.com/news/research-development/philrice-introduces-nutrient-manager-software-help-farmers-reduce March Tenders: Taiwan completed the first 2014 Country Specific Quota Simultaneous Buy-Sell (SBS) tenders for 10,000 tons of U.S. origin rice and 2,000 tons of Thai origin rice on March 18, 2014. Delivery is expected by December 2014.http://oryza.com/news/tenders/taiwan-completes-first-2014-csq-tenders-usthai-origin-rice The Philippines is looking to purchase 800,000 tons of 15% broken white rice long variety via an open tender set for April 15, 2014.http://oryza.com/news/tenders/philippines-import-800000-tons-rice-open-tender-date-set-april-15-2014 Iraq issued a tender to buy at least 30,000 tons of rice.http://oryza.com/news/tenders/iraq-tenders-buy-minimum-30000-tons-rice Qatar issued a tender to buy about 750,000 sacks of basmati rice.http://oryza.com/news/tenders/qatar-tenders-purchase-750000-sacks-basmati-rice-1121 Japan announced a tender to buy about 32,753 tons of rice.http://oryza.com/news/tenders/japan-announces-tender-buy-32753-tons-rice 

South Korea issued a tender to purchase 39,263 tons of rice.http://oryza.com/news/tenders/south-korea-tenders-buy-39263-tons-non-glutinous-rice  Tags: Monthly Market Review, Rice market- See more at: http://oryza.com/reports/monthly-review/oryza-march-2014-rice-market-review#sthash.lDYkkn4w.dpuf

Philippines Rice Farmers Need Government Support to Reduce Production Costs, Says Agriculture Secretary

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Apr 04, 2014

The Philippines Agriculture Secretary says that rice farmers need government help to reduce costs of paddy production in order to compete with farmers in Thailand and Vietnam ahead of the ASEAN integration, according to local sources.The Agriculture Secretary says that rice farmers are not ready for the ASEAN Integration in 2015 because of high production costs which is mainly due to lack of farm mechanization. He adds that farmers spend heavily on farm inputs and disproportionate interests on farm loans. The Secretary says that farm mechanization and post-harvest facilities along with non-restrictive loan facilities could help reduce paddy production costs to a great extent. “If we could lower the cost of production to P5 per kilogram (around $111 per ton), Filipino farmers can really be competitive,” he said.The Agricultural Secretary also said that the government Sikat Saka credit assurance program supports farmers with technical assistance, administrative services, assured market insurance and irrigation. The program also offers loans to the extent of P41,000 (around $910) per hectare if farmers grow inbred rice and P50,000 (around $1,110) per hectare if they grow hybrid rice.According to the Philippine Rice Research Institute (PhilRice) the cost of paddy production in the Philippines is P10 per kilogram (around $222 per ton), while it is P5 per kilogram (around $111 per ton) in Vietnam and P8 per kilogram (around $178 per ton) in Thailand. The Institute added that labor cost accounts to about 50% of the rice production costs in the Philippines.Tags: Philippines rice production costs- See more at: http://oryza.com/news/rice-news/philippines-rice-farmers-need-government-support-reduce-production-costs-says#sthash.ImhVQPOc.dpuf

Philippines Rice Farmers Need Government Support to Reduce Production Costs, Says Agriculture Secretary

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Apr 04, 2014

The Philippines Agriculture Secretary says that rice farmers need government help to reduce costs of paddy production in order to compete with farmers in Thailand and Vietnam ahead of the ASEAN integration, according to local sources.The Agriculture Secretary says that rice farmers are not ready for the ASEAN Integration in 2015 because of high production costs which is mainly due to lack of farm mechanization. He adds that farmers spend heavily on farm inputs and disproportionate interests on farm loans. The Secretary says that farm mechanization and post-harvest facilities along with non-restrictive loan facilities could help reduce paddy production costs to a great extent. “If we could lower the cost of production to P5 per kilogram (around $111 per ton), Filipino farmers can really be competitive,” he said.The Agricultural Secretary also said that the government Sikat Saka credit assurance program supports farmers with technical assistance, administrative services, assured market insurance and irrigation. The program also offers loans to the extent of P41,000 (around $910) per hectare if farmers grow inbred rice and P50,000 (around $1,110) per hectare if they grow hybrid rice.According to the Philippine Rice Research Institute (PhilRice) the cost of paddy production in the Philippines is P10 per kilogram (around $222 per ton), while it is P5 per kilogram (around $111 per ton) in Vietnam and P8 per kilogram (around $178 per ton) in Thailand. The Institute added that labor cost accounts to about 50% of the rice production costs in the Philippines.Tags: Philippines rice production costs

- See more at: http://oryza.com/news/rice-news/philippines-rice-farmers-need-government-

support-reduce-production-costs-says#sthash.xMwRHcbl.dpuf USDA Post Forecasts Bangladesh MY 2014-15 Rice Imports at 100,000 Tons; Down 75% from Previous Year

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Apr 04, 2014

The USDA Post says that Bangladesh rice imports are likely to decline sharply to around 100,000 tons in MY 2014-15 (May – April), down about 75% from an estimated 400,000 tons in MY 2013-14 due to higher than expected production.The Post has increased the projections for Bangladesh rice imports in MY2013-14 to 400,000 tons, which is up about 81% from USDA official estimates of 220,000 tons. The Post says that rice imports are expected to increase this year due to a strong Taka (currency) and high internal transportation costs that are causing domestic rice prices to be uncompetitive in districts that border India. Between December and March 2013, Bangladesh imported about 374,000 tons of rice from India, most of it by the private sector, say the Post.However, imports are likely to drop in MY 2014-15 due to higher supplies. The Post says that Bangladesh rice production in MY 2014-15 is likely to increase to 34.8 million tons, up by 210,000 tons from 34.59 million tons in MY 2013-14 due to expectations of higher acreage and good yields for the Aus rice crop (March -July).The Post expects Bangladesh rice consumption to increase to 34.8 million tons in MY 2014-15, up about 200,000 tons from 34.6 million tons in MY

2013-14 based on population growth. The average per capita annual consumption of rice in Bangladesh is 152 kilograms, but it may decline due to its higher prices compared to other staples such as wheat.USDA estimates Bangladesh's ending stocks to increase to 1.19 million tons in MY 2014-15, up about 9% from 1.09 million tons in MY 2013-14. The government has procured 1.15 million tons of rice, about 18% less than the estimated target of 1.4 million tons in MY 2013-14.Tags: Bangladesh rice imports, Bangladesh rice production- See more at: http://oryza.com/news/rice-news/usda-post-forecasts-bangladesh-my-2014-15-rice-imports-100000-tons-down-75-previous#sthash.DGF04JrC.dpuf

USDA Post Forecasts Bangladesh MY 2014-15 Rice Imports at 100,000 Tons; Down 75% from Previous Year

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Apr 04, 2014

The USDA Post says that Bangladesh rice imports are likely to decline sharply to around 100,000 tons in MY 2014-15 (May – April), down about 75% from an estimated 400,000 tons in MY 2013-14 due to higher than expected production.The Post has increased the projections for Bangladesh rice imports in MY2013-14 to 400,000 tons, which is up about 81% from USDA official estimates of 220,000 tons. The Post says that rice imports are expected to increase this year due to a strong Taka (currency) and high internal transportation costs that are causing domestic rice prices to be uncompetitive in districts that border India. Between December and March 2013, Bangladesh imported about 374,000 tons of rice from India, most of it by the private sector, say the Post.However, imports are likely to drop in MY 2014-15 due to higher supplies. The Post says that Bangladesh rice production in MY 2014-15 is likely to increase to 34.8 million tons, up by 210,000 tons from 34.59 million tons in MY 2013-14 due to expectations of higher acreage and good yields for the Aus rice crop (March -July).The Post expects Bangladesh rice consumption to increase to 34.8 million tons in MY 2014-15, up about 200,000 tons from 34.6 million tons in MY 2013-14 based on population growth. The average per capita annual

consumption of rice in Bangladesh is 152 kilograms, but it may decline due to its higher prices compared to other staples such as wheat.USDA estimates Bangladesh's ending stocks to increase to 1.19 million tons in MY 2014-15, up about 9% from 1.09 million tons in MY 2013-14. The government has procured 1.15 million tons of rice, about 18% less than the estimated target of 1.4 million tons in MY 2013-14.Tags: Bangladesh rice imports, Bangladesh rice production- See more at: http://oryza.com/news/rice-news/usda-post-forecasts-bangladesh-my-2014-15-rice-imports-100000-tons-down-75-previous#sthash.UIyXaYIw.dpuf

Oryza Overnight Recap – Chicago Rough Rice Futures Little Changed Ahead of Final Trading Session for the Week

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Apr 04, 2014

Chicago rough rice futures for May delivery are currently paused 0.5 cents per cwt (about $0.11 per ton) lower overnight at $15.695 per cwt (about $346 per ton) as of 8:00am Chicago time. The other grains are seen mostly lower this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.1% higher, wheat was paused about 1.3% lower, and corn is noted about 0.7% lower.U.S. stock index futures ticked higher across the board Friday following the nonfarm payrolls report. The U.S. created 192,000 new jobs in March after a gain of 197,000 in February, according to the Labor Department. The unemployment rate was unchanged at 6.7%. Economists polled by Reuters had expected employment to increase 200,000 last month and the unemployment rate to dip to 6.6%.The central bank previously said it would look to overhaul policy once the unemployment rate declined to 6.5%, but has since signaled that policy is no longer focused on unemployment. On Thursday, stocks broke a four-day winning streak, with the Nasdaq down nearly 1 percent, while the Dow and S&P 500 retreated from record intraday highs. U.S. stock index futures are currently trading about 0.4% higher, gold is currently trading about 1.2% higher, crude oil is seen trading about 1% higher, and the U.S. dollar is currently trading about 0.1% lower at 8:00am Chicago time.Tags: chicago rough rice futures

- See more at: http://oryza.com/news/cbot/oryza-overnight-recap-%E2%80%93-chicago-

rough-rice-futures-little-changed-ahead-final-trading#sthash.mrR5wOjy.dpuf

Thailand Government to Auction 570,000 Tons of Rice Next Week; Bids Expected to be Low

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Apr 04, 2014

Thailand's Department of Foreign Trade (DFT) is planning to sell about 570,000 tons of rice in auction on April 9 - 10, 2014, according to local sources.The April 9, 2014 auction will take place in Suphanburi Province, and about 170,000 tons of rice from 2012-13 and 2013-14 seasons will be auctioned, according to the DFT Director General. He says that of the 170,000 tons, 100,000 tons would be 5% moisture grain and the remaining 70,000 tons would be Jasmine rice, A1-Lert rice bran and sticky rice grain.The second lot of 400,000 tons of rice will be auctioned on April 10, 2014 at the Department of Foreign Trade premises. The DFT Director General says that about 150,000 tons of rice would be 5% moisture grain and the remaining would be a combination of other grains. Paddy from 2011-14 seasons would be put up for sale on that day.The DFT Director General says that bids are expected to be lower bids for the April 9-10, 2014 auctions as prices are declining and adds that the government may not be able to sell the entire quantity put up for sale as the rice market is saturated from previous sales. The government has sold over one million tons of rice in March 2014 and plans to sell about one million tons of rice every month in the coming months of this year with the target of raising about 8 billion baht (around $247 million) every month. Current government rice stocks are estimated at about 10 million tons, according to local sources.Tags: Thailand rice auctions- See more at: http://oryza.com/news/tenders/thailand-government-auction-570000-tons-rice-next-week-bids-expected-be-low#sthash.HgflprF4.dpuf

USDA Post Estimates India Government Rice Procurement to Decline to 31 Million Tons in MY 2013-14; Down 10% from Previous Year

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Apr 04, 2014

The USDA Post in New Delhi says that rice procurement by the Indian government may decline to about 31 million tons in MY 2013-14, down about 10% from 34 million tons procured in MY 2012-13.As of March 21, 2014, the government has procured an estimated 25.7 million tons, down about 12% from an estimated 28.8 million tons procured during the same period in the previous year. Procurement is slow this year in most states except Chhattisgarh and Madhya Pradesh, according to data from the Food Corporation of India (FCI).The Post says that relatively firm domestic prices have contained MY 2013-14 government rice procurement so far. The Post expects government procurement to be slow in April as well because of significant increase in market prices in March 2014. Average rice price in India increased to about Rs.28,318 (around $470) per ton in March, 2014, up about 3% from about Rs.27,540 (around $457) per ton in February 2014. Average rice prices are up about 15% from the beginning of this year, according to the Agriculture Ministry.Higher export demand since January 2014 has supported domestic prices, according to the Post. Currently, spot prices for common grade coarse rice range from Rs.23,575 – Rs. 36,170 (about $390 - $598) per ton in major producing states. The Post expects prices to remain firm before the rabi (January – June) rice start coming into the market by the end of April.The Post says that India’s rice exports in January 2014 increased to about 946,000 tons, up about 7% from about 882,000 tons in December 2013. Basmati rice exports in January 2014 declined to about 346,000 tons, down

about 9% from about 380,000 tons in December 2013, while non-basmati rice exports in January 2014

Pakistan Rice Exports Likely to Surge to 3.9 Million Tons in MY 2013-14, Says USDA Post

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Apr 04, 2014

Pakistan’s rice exports in MY 2013-14 (November - October) are expected to increase to a record 3.9 million tons, up about 15% from USDA official estimates of around 3.4 million tons, and up about 8% from an estimated 3.6 million tons exported in MY 2012-13, according to the USDA Post.The Post says that exports are likely to increase this year due to higher production and improved power supply. The Post also says that Pakistan's rice exporters have improved rice processing in the country, and their initiatives have led to a significant surge in rice exports over the last decade barring declines during flood years. Pakistan’s rice exports in MY 2014-15 are also expected to remain at high levels of around 3.9 million tons.The USDA Post says that rice production in Pakistan is recovering from three years of successive floods. The Post has increased its estimates for Pakistan's MY 2013-14 milled rice production to 6.6 million tons, up about 3%

from USDA official estimates of 6.4 million tons due to increase in area and deposition of nutrient rich top layer of soil after floods in several rice growing areas. Pakistan’s rice production is expected to increase to about 6.7 million tons in MY 2014-15, up about 1.5% from the previous year.Pakistan's rice consumption is expected to increase to around 2.6 million tons in MY 2013-14, up about 8% from an estimated 2.4 million tons in the previous year due to higher supplies. Basmati rice accounts for about 40% of country's total rice production and white rice accounts for the rest. Rice is not a staple in Pakistan, and only 45% of the rice produced in the country is used for local consumption while the remaining is exported. Rice consumption in MY 2014-15 is expected to increase to around 2.7 million tons, up about 4% from the previous year. Pakistan's ending rice stocks are expected to increase to 700,000 tons in MY 2014-15, up about 16% from 600,000 tons in MY 2013-14.Tags: Pakistan rice exports, Pakistan rice production- See more at: http://oryza.com/news/rice-news/pakistan-rice-exports-likely-surge-39-million-tons-my-

2013-14-says-usda-post#sthash.Fpfjjwso.dpuf increased to about 600,000 tons, up by about 17% from about 546,000 tons in December 2013. Provisional shipment data from private sources indicate that rice exports in February 2014 have declined to about 824,000 tons due to weaker demand for basmati rice from Iran and relatively strong domestic prices. Post estimates 2013-14 exports at 10 million tons assuming no significant changes in the price parity of Indian rice in the international market.Tags: India rice procurement, India rice exports- See more at: http://oryza.com/news/rice-news/usda-post-estimates-india-government-rice-procurement-decline-31-million-tons-my-2013#sthash.ZeSJvCe5.dpuf