19th july daily top rice e newsletter with top exclusive rice news updates shared by riceplus magazi

19th July , 2013

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Top NewsHeadlines…  Pakistan Businesses Oppose India’s Lobbying for Subsidies in Rice Exports  Thailand Plans to Allow Private Rice Mills to Bid in Rice Mortgage Program  Thailand Maintains Rice Export Target of 8-8.5 Million Tons; Considers 10% Reduction in Pledging Price.  Panama Paddy Rice Prices Stable in June 2013  South Korea Tenders to Buy 107,387 Tons of Rice

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 Colombia Average Rice Prices Decline in July 2013  Vietnam Rice Sellers Increase Most of Their Quotes Today; Other Asia Rice Quotes Unchanged Oryza Quick Glance at MDA Rice Crop Weather Update Oryza U.S. Rough Rice Recap – With Very Little Old Crop Rice Left, Buyers Cancel Receipts Oryza Rice Currency Analysis for Today – India Rupee Down 0.6%; Mexico Peso Down 0.5% Oryza Afternoon Recap – Chicago Rough Rice Futures Break Through Nearby Technical Resistance despite Weakness in Beans, Wheat Oryza Quick Glance at World News Oryza Global Rice Quotes

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NEWS DETAILS… Pakistan Businesses Oppose India’s Lobbying for Subsidies in Rice Exports Jul 18, 2013

Pakistan rice industry representatives have opposed lobbying by India to get support for subsidies on rice exports ahead of the next World Trade Organization (WTO) meeting later this year. According to sources in Pakistan, India has begun “aggressive lobbying” for subsidy on rice from the WTO, a move that Pakistan traders say could harm the rice sector in Pakistan and several other smaller countries in the region.The president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) told local sources this week that the WTO should not grant any flexibility on rice subsidy to India to help rice exporters in the region compete fairly. Pakistan traders say that the Indian government is using the Food Security Bill as an excuse to get WTO’s approval for additional subsidies on rice.

While rice is a staple in India and crucial for food security, the grain is a cash crop in neighboring Pakistan.

Rice traders in Pakistan have long complained that they cannot compete with cheap India rice which is heavily subsidized by the Indian government.Recently, India’s Agriculture Minister said that the upcoming Food Security Bill will not affect India’s rice exports due to presence of adequate rice in government stockpile.

Tags: Pakistan rice exports

Thailand Plans to Allow Private Rice Mills to Bid in Rice Mortgage Program Jul 18, 2013 Thailand’s Bank of Agriculture and Agricultural Cooperatives (BAAC) has proposed to allow private rice millers to participate in bidding in the government rice mortgage program 2013-14 to reduce the financial burden on the government.According to the BAAC president, about half of the total rice production in 2013-14 will be auctioned and sold to private rice millers and the government will buy the remaining half. Private millers participating in the rice mortgage program will get loans from commercial banks, the BAAC chief told local sources. The BAAC proposal is scheduled to be taken up by the National Rice Policy Committee later this month.Thailand's total rice production in 2013-14 is forecast by the USDA at around 21 million tons.

Tags: Thailand rice mortgage scheme, Bank for Agriculture and Agricultural Cooperatives

Thailand Maintains Rice Export Target of 8-8.5 Million Tons; Considers 10% Reduction in Pledging Price.

Jul 18, 2013

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Thailand has kept its rice export target for 2013 unchanged at 8-8.5 million tons and says it won’t sell stockpiled rice at low prices.Thailand’s Trade Department said it may cut the rice support price 10% to 13,500 baht (about $435) per ton from 15,000 baht (about $483) per ton currently.

Tags: Thailand rice exports, Thailand rice mortgage scheme

Panama Paddy Rice Prices Stable in June 2013 Jul 18, 2013

Average paddy rice prices in Panama remained at around 48 balboa per quintal (about $480 per ton, using June exchange rates) in June 2013, unchanged for the sixth consecutive month, according to data from the Panama Institute of Agricultural Marketing.Year-on-year, average paddy prices in Panama are up about 2% from around 47 balboa per quintal (about $470 per ton, using historical exchange rates) recorded in June 2012.

Tags: Panama paddy rice prices

South Korea Tenders to Buy 107,387 Tons of Rice Daily Rice E-Newsletter

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Jul 18, 2013 South Korea has issued tenders to purchase 107,387 tons of non-glutinous rice from China, Thailand, Australia and other origins.The last date for submission of applications is July 30 (2 p.m.) and electronic bids will be held on July 31 (10 a.m. to 11:30 a.m.), according to the state-run Korea Agro-Fisheries & Food Trade Corp.

Delivery is expected to take place between October and December 2013.

Tags: South Korea rice tenders

Colombia Average Rice Prices Decline in July 2013 Jul 18, 2013 Average white rice prices in Colombia stand at around 1.961 million pesos per ton (about $1,045 per ton, using current exchange rates) in July, 2013, down about 1% from around 1.984 million pesos per ton (about $1,055

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per ton, using June exchange rates) seen in June 2013, according to data from the Federaci贸n Nacional de Arroceros (FedeArroz). Year-on-year, average white rice prices are down almost 16% from around 2.339 million pesos per ton (about $1,309 per ton, using historical exchange rates) recorded in July 2012.

Average green paddy rice prices in Colombia stand at around 915,029 pesos per ton (about $488 per ton, using current exchange rates), down about 5% from around 965,779 pesos per ton (about $513 per ton, using June exchange rates) recorded in the previous month. Year-on-year, average green paddy rice prices in Colombia are down about 18% from around 1.12 million pesos per ton (about $628 per ton, using historical exchange rates) recorded in July 2012.

Tags: colombia rice prices

Vietnam Rice Sellers Increase Most of Their Quotes Today; Other Asia Rice Quotes Unchanged Jul 18, 2013 Vietnam rice sellers increased most of their quotes by about $5 - $10 per ton today. Other Asian rice quotes remained mostly unchanged.

5% Broken Rice Thai 5% rice is quoted around $465 - $475 per ton, about a $70 per ton premium over Viet 5% rice (of summerautumn crop 2013) shown around $395 - $405 per ton, up about $10 per ton from yesterday.

Indian 5% rice is quoted around $435 - $445 per ton, about a $15 per ton premium over Pak 5% rice (of new crop) quoted around $420-$430 per ton. Pak 5% rice of the old crop is quoted around $470 - $480 per ton.

25% Broken Rice Thai 25% rice is quoted about $450 - $460 per ton, about a $90 per ton premium over Viet 25% rice (of summer-autumn crop 2013) shown around $360 - $370 per ton, up about $10 per ton from yesterday.

Indian 25% rice is quoted about $390 - $400 per ton, around $20 per ton premium over Pak 25% rice (of new crop) quoted around $370-$380 per ton. Pak 25% rice of the old crop is shown around $395 - $405 per ton.

Parboiled Rice Thai parboiled rice is quoted around $530 - $540 per ton.

Indian parboiled rice is quoted around $415 - $425 per ton, about $10 per ton discount to Pak parboiled rice (of new crop) quoted around $425 - $435 per ton. Pak parboiled rice quotes of the old crop are unavailable today.

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100% Broken Rice Thai broken rice, A1 Super, is quoted around $430 - $440 per ton, about a $90 per ton premium over Viet broken rice (of summer-autumn crop 2013) shown around $340 - $350 per ton, up about $5 per ton from yesterday.

Indian broken sortexed rice is quoted about $315 - $325 per ton, about $40 per ton discount to Pak broken sortexed rice (of old crop) indicated at around $355 - $365 per ton. Pak broken sortexed rice quotes of the new crop are unavailable today.

Tags: Asia rice quotes, Pakistan rice quotes, India rice quotes, Thailand rice quotes, Vietnam rice quotes

Oryza Quick Glance at MDA Rice Crop Weather Update Jul 18, 2013

Oryza shares some of MDA’s latest rice crop weather updates: Heavy rainfall is expected across the North China plains this week. Rains are also forecast in Yangtze Valley and southeast China. Wetness concerns may disrupt double-crop harvesting in central China.

Heavy rains are expected across central Japan this week, but additional rains are required for planting.

Rainfall is expected to favor planting in Thailand this week.

Dryness concerns remain in northern and southern regions of Vietnam.

Abundant rainfall is expected in most parts of the Philippines this week. Heavy rainfall may increase wetness concerns in central Philippines.

High moisture levels will favor planting in Java in Indonesia this week. More rainfall is required in northern Sumatra, Malaysia, and western Sulawesi.

Rainfall may disrupt Aus harvest in Bangladesh this week.

Moderate to heavy rainfall will continue in most parts of India this week, aiding planting there.

Light rainfall is expected in eastern Pakistan this week.

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Wetness concerns continue in southern Nigeria and western Cameroon this week.

Dryness concerns remain in the Delta region in the U.S. Light rainfall is expected in most parts of the U.S. this week.

Rainfall may disrupt harvest in the north in Brazil this week.

Light rainfall is expected in Argentina this week.

For more complete weather information, contact: www.mdaus.com.

Tags: Weekly weather report for rice

Oryza U.S. Rough Rice Recap – With Very Little Old Crop Rice Left, Buyers Cancel Receipts Jul 18, 2013 Old crop offers that could be found jumped to around $17.77 per cwt fob farm (about $392 per ton) for JulyAugust shipment however there is zero interest at these levels as buyers continue to load out Chicago Board of Trade warehouse receipts at much better prices.

Overnight, another 95 warehouse receipts were canceled leaving a total of 720 available on the exchange (65,520 tons), which many analysts believe will be completely loaded out before the majority of new crop rice is available.As for new crop, most offers could be found around $15.56-$16.11 per cwt fob farm (about $343$355 per ton) while bids were steady near $15.55-$16.00 per cwt (about $343-$353 per ton) for OctoberNovember-December delivery.In the meantime, today the USDA reported that for the week ending on July 11th, U.S. rice exporters sold 49,400 tons, which was considerably higher than last week and 50% higher than the prior 4-week average, with the primary destinations including: 23,500 tons to Mexico, and 9,000 tons to Haiti, 8,900 tons to Costa Rica, 5,000 tons to Saudi Arabia, and 5,000 tons to El Salvador, while 9,900 tons of decreases were reported for Japan and 5,000 tons for unknown destinations.

Net Sales of 11,500 tons were reported for the 2013/2014 crop with primary destinations including: 11,000 tons to South Korea, 300 tons to Singapore, and 200 tons for Ghana.U.S. rice exporters shipped 101,100 tons, which was considerably higher than last week and 88% higher than the prior 4-week average. The primary destinations included: 43,300 tons to Mexico, 14,400 tons to Haiti, 11,500 tons to Japan, 9,800 tons to Saudi Arabia, and 9,100 tons to South Korea.

Tags: U.S. rice prices

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Oryza Rice Currency Analysis for Today – India Rupee Down 0.6%; Mexico Peso Down 0.5% Jul 18, 2013  U.S. dollar index was up +0.14% from the open today, when it traded at 82.820 at the close.  Euro was -0.15% weaker today by the close, trading around 1.3106 by end of day, after trading between an intraday high of 1.3128 and low of 1.3067. Economic news in the U.S. today was generally positive, supporting the dollar.  Thai baht was -0.16% weaker today, trading at 31.03 at the close of business.  Indian rupee was weaker -0.55% at the close today when it traded at 59.6750.  Brazilian real was +0.07% stronger than the open at today’s close, when it ended at 2.2247 reais per dollar.  Pakistan rupee was +0.05% stronger at the close today, when it traded at 100.8500.  Vietnamese dong was +0.07% stronger at 21,223.  Mexican peso was -0.51% weaker today, when it traded at 12.5233 pesos per dollar by the close of business today.  Chinese yuan was -0.10% weaker today, when it traded by close at 6.1410.  Argentine peso was -0.19% weaker from the open today at the close, when it traded at 5.4498 pesos per dollar.

Tags: foreign exchange rates

Oryza Afternoon Recap – Chicago Rough Rice Futures Break Through Nearby Technical Resistance despite Weakness in Beans, Wheat Jul 18, 2013 Chicago rough rice futures for September delivery settled 11 cents per cwt (about $2 per ton) higher at $15.390 per cwt (about $339 per ton). Rough rice futures maintained overnight gains to finish the day with a double digit increase in price. Buying interest appears to be technically driven as chart formations provide support.

Additional bullishness is likely coming from the lack of cash rice available and the continued fall in the number of outstanding warehouse receipts. Rice futures moved higher despite negativity in the other grains ; soybeans finished the day about 1.4% lower at $12.6575 per bushel; wheat finished about 0.7% lower at $6.6050 per bushel; and corn finished the day about 0.3% lower at $5.0075 per bushel.U.S. stocks eased off their highs in midday trading Thursday, but the Dow and S&P 500 were still at fresh highs, thanks to a batch of upbeat economic reports and as Fed Chairman Ben Bernanke testified before congress for a second day.

The Dow Jones Industrial Average climbed above its previous all-time high of 15,542.40. The S&P 500 also topped its previous record of 1,687.18. The Nasdaq struggled to hold its gains. Major averages have been on a tear so far this year, with the Dow and S&P 500 both up more than 18% and the Nasdaq up nearly 20%. Most

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key S&P sectors traded higher, led by energy and financials, while telecoms lagged. U.S. stock markets are currently trading up about 0.5%, gold is trading up about 0.6%, crude oil is seen about 1.4% higher, and the U.S. dollar is about 0.1% higher at about 12:00pm Chicago time.Looking to the daily continuation chart of Chicago rough rice futures for September delivery, the market managed to close above nearby technical resistance noted yesterday at $15.375 per cwt (about $339 per ton) provided by the 100-day moving average.

Although prices managed to trade above secondary resistance at $15.400 per cwt (about $340 per ton), put in place by the 20-day moving average, the bulls were unable to maintain prices at these levels and by the close they had slipped just below this point. This level now becomes nearby resistance and marks the barrier between what is technically seen as positive and negative territory. A close above the 20-day moving average would be seen as a supportive development and likely trigger additional technical buying. The market has maintained its trend of setting higher highs and lows which provides furthers the case for a bullish outlook for tomorrow’s trade direction. Today’s trading range is noted as $15.305-$15.445 per cwt (about $337-$341 per ton).Wednesday, there were 34 contracts traded, down from 246 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday increased by 34 contracts to 11,594.

Oryza Quick Glance at World News Financial Times o U.S. Fed's chairman, Ben Bernanke, said that the Federal Reserve will support a weak economy for the foreseeable future as he sought to calm fears that have rocked global financial markets in recent weeks.

In testimony to U.S. Congress on Wednesday, he said asset purchases would slow from $85 billion-amonth later this year if the economy stays strong but he argued that the Fed was not backing away from easy monetary policy with almost every other word. o A lobby for “holdouts” in Argentina’s long-running debt battle with its defaulted creditors has urged its supporters to challenge IMF plans to file an amicus curiae brief supporting Argentina’s bid for a U.S. Supreme Court appeal of a landmark debt ruling last year. o The Bank of England’s interest rate-setting committee signaled on Wednesday that it was retreating from quantitative easing as a means of stimulating the economy, preferring a more “mixed” strategy including guiding markets. o The IMF has warned that time is running short for China to implement critical economic reforms as the government, banks and companies come under mounting strain from rapid and unbalanced growth. o Nelson Peltz has launched a public campaign to transform PepsiCo, urging the group to first merge its snack business with Mondelez in a $60 billion deal, and then to spin out its slow-growing soda business to shareholders. o Enrico Letta, Italy’s prime minister, is facing a growing revolt from within his own centre-left party over the crisis surrounding his coalition government’s handling of the deportations of the wife and daughter of a prominent dissident from Kazakhstan. o The Greek parliament has approved controversial reforms of the civil service and tax administration, opening the way for mass dismissals of state employees in return for a €6.8 billion aid disbursement by international lenders.

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o Google must make more concessions to rivals in the way it presents search results if it is to avoid formal charges and hefty fines, the EU’s antitrust enforcer has warned.

Wall Street Journal    

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ArcelorMittal said Wednesday that it is dropping plans to build a factory in the eastern Indian state of Orissa, becoming the second global steelmaker after Posco to pull out of multi-billion-dollar projects in the country this week.

Russia's most prominent opposition campaigner, Alexei Navalny, was found guilty of embezzlement Thursday by a provincial court, a year and a half after leading the biggest protests to challenge the Kremlin's rule since Soviet Union's collapse.

South Korea has asked the U.S. to consider delaying the planned 2015 transfer of wartime control of South Korean forces to Seoul's command because of North Korea's nuclear threat, the country's defense ministry said Wednesday.

Tokyo Electric Power Co. said Thursday that steam was seen in the upper part of the building that houses the No.3 unit of the stricken Fukushima Daiichi nuclear power plant. However, the utility said that there was no indication that the steam was part of any wider problem at the plant, saying that monitoring units, including those measuring radiation levels, all appeared normal.

Chinese authorities investigating alleged bribery by pharmaceutical giant GlaxoSmithKline have barred the company's finance chief in China, British national Steve Nechelput, from leaving the country, Glaxo said Wednesday.

There have been many cases of Indian children falling sick after eating meals distributed through the government’s free school meal program, but none as extreme as Tuesday’s deadly poisoning in the eastern state of Bihar. At least 22 children died and more than two dozen others are seriously ill after eating a lunch that doctors and officials say was contaminated with insecticide, probably phosphorous.

German prosecutors have indicted Formula One Group Chief Executive Bernie Ecclestone for bribery in connection with $44 million he paid a Munich banker in 2006-07, jeopardizing his future atop the racing circuit.

New York Times  In a strong signal that Israeli-Palestinian peace talks might soon be resumed, Arab League diplomats said Wednesday that the ideas proposed by Secretary of State John Kerry “lay the proper foundation to start the negotiations.”  Iran's foreign Minister Ali Akbar Salehi said Wednesday that the country was prepared to resume suspended talks on its disputed nuclear program with the six big world powers after Iran’s new president, Hassan Rowhani, takes office early next month  Russian President Vladimir V. Putin signaled on Wednesday that he expected the broader bilateral relationship with the U.S. to be unharmed if Russia granted asylum to Edward J. Snowden, the former intelligence contractor on the run from the American authorities.  Europe needs the combined expertise of the IMF, the ECB and the European Commission in handling the euro zone debt crisis, the EU's economics chief said on Thursday, dismissing suggestions the 'troika' should be disbanded.

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 Poland's decision this week to suspend one of its budget rules so it can run a bigger deficit was a U-turn for Jacek Rostowski, the finance minister who has built a reputation as one of Europe's toughest fiscal hawks.  The American economy grew throughout the country from late May through early July, bolstered by the housing recovery, consumers and more factory output. A Federal Reserve survey released on Wednesday showed that 11 of the Fed banking districts reported “modest to moderate” growth, while Dallas reported “strong” growth for the second straight survey.

Oryza Global Rice Quotes-July 18th, 2013 Long grain white rice - high quality Thailand 100% B grade 475-485 Vietnam 5% broken 395-405 India 5% broken 435-445 Pakistan 5% broken 420-430 U.S. 4% broken 610-620 Uruguay 5% broken 620-630 Argentina 5% broken 620-630

Long grain parboiled rice

↔ ↑ ↔ ↔ ↔ ↔ ↔

Long grain white rice - low quality Thailand 25% broken 450-460 Vietnam 25% broken 360-370 Pakistan 25% broken 370-380 India 25% broken 390-400 U.S. Calrose 4% broken 600-610

↔ ↑ ↔ ↔ ↔

Long grain fragrant rice

Thailand parboiled 100% stxd Pakistan parboiled 5% broken stxd India parboiled 5% broken stxd

530-540

↔ Thailand Hommali 92%

1075-1085

↔

425-435 415-425

545-555 1515 -1525

↑ ↔

U.S. parboiled 4% broken Brazil parboiled 5% broken Uruguay parboiled 5% broken

660-670 605-615 NQ

↔ Vietnam Jasmine ↔ India basmati 2% broken Pakistan basmati 2% ↔ broken ↔ ↔

NQ

↔

Brokens Thailand A1 Super Vietnam 100% broken Pakistan 100% broken stxd India 100% Broken stxd Egypt medium grain brokens U.S. pet food Brazil half grain

Medium grain milled 430-440 340-350 355-365 315-325 NQ 335-345 355-365

↔ U.S. Calrose 4% broken ↑ Egypt medium grain 6% ↔ ↔ ↔ ↔ ↔

685-695 NQ

↔ ↔

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

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