22nd january (thursday),2015 daily global rice e newsletter by riceplus magazine

22-January-2015

ORYZA RICE NEWS by Riceplus Magazine www.ricepluss.com Pakistan Exports 490,371 Tons of Rice in December 2014; Up 7% m/m and Down 11% y/y Jan 21, 2015

Pakistan exported around 490,371 tons of rice (including basmati and non-basmati) in December 2014, up about 7% from around 459,419 tons exported in November 2014, according to provisional data from the Pakistan Bureau of Statistics (PBS). In terms of value, Pakistan's rice export earnings increased to around $238.2 million in December 2014, up about 8% from around $221.2 million earned in November 2014.

Year-on-year, Pakistan’s exports increased about 11% from around 549,297 tons exported in December 2013. In terms of value, they declined about 9% from around $262.2 million in December 2013.

Pakistan exported around 39,200 tons of basmati rice in December 2014, down about 17% from around 47,090 tons exported in November 2014 and down about 28% from around 54,825 tons

in December 2013. In terms of value, Pakistan's basmati rice exports earned $44.7 million in December 2014, down about 3% from around $46.2 million earned in November 2014, and down about 27% from around $61.3 million earned in December 2013.

Pakistan exported around 451,171 tons of non-basmati rice in December 2014, up about 9% from around 412,329 tons exported in November 2014 and down about 9% from around 494,472 tons in December 2013. In terms of value, Pakistan's non-basmati rice exports earned $193.5 million in December 2014, up about 11% from around $175 million earned in November 2014, and down about 4% from around $200.8 million earned in December 2013.

Pakistan has exported around 1.84 million tons of rice (around 278,973 tons of basmati and around 1.56 million tons of non-basmati) in the first six months of FY 2014-15 (July 2014 - June 2015), up about 8% from around 1.71 million tons (around 269,272 tons of basmati and around 1.44 million tons of non-basmati) exported during the same period in FY 2013-14. In terms of value, Pakistan's exports earned around $976.8 million (around $276 million from basmati and around $700.8 million from non-basmati) in July - December 2014 up about 3% from around $944 million (around $294.5 million from basmati and around $649.56 million from nonbasmati) earned during the same period in 2013.

Oryza U.S. Rough Rice Recap - Quiet Market with Little Buy or Sell Interest Jan 21, 2015

The U.S. cash market remains quite with little in the way of price discovery as both bids and offers continue to be hard to come by.

Analysts contend that most buyer are well covered while sellers are waiting for prices to improve so there is very little trading to report.

Nepal Considers Rice Exports to China Despite Likely Lower Production in 2014-15 Jan 21, 2015

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Nepal is planning to allow rice exports to China in the fiscal year 2014-15 (August - July) considering huge demand for Nepali rice in China, sources from the Ministry of Commerce and Supplies (MoCS) were quoted as saying. Sources said Chinese importers pay ransom amount for Nepali rice.

The Nepal government banned rice exports in 2013 citing food deficit as the main reason.

According to Nepal Rastra Bank's (NRB) statistics, Nepal's 2013-14 paddy output was at around 5.04 million tons, up about 12% from around 4.5 million tons in 2012-13 due to timely rains and favorable weather conditions. Yet, it did not open rice exports in 2013-14.

However, the government is planning to reconsider ban and open exports this year despite a likely reduction in paddy production. The Ministry of Agricultural Development (MAD) estimates the country's 2014-15 paddy rice production likely to decline about 5.1% to around 4.78 million tons due to a late monsoon and untimely rainfall.

The government is planning to export 10,000 tons of rice to China, according to the MoCS sources. They noted that the government would allow exports to China through the two routes -

Tatopani and Rasuwagadhi. Exporters can supply 5,000 tons of rice through each of the two routes.

The NRB statistics show that the south Asian nation imported rice worth Rs.12.37 billion (around $121.45 million) in 2013-14, up about 46% from around Rs.8.47 billion (around $83.16 million) despite surplus rice stocks of around 800,000 tons from the previous fiscal due to rising disposable incomes and the Nepalese preference for better quality rice. The government imported rice worth Rs.5.51 billion (around $56 million) in the first five months of the fiscal 2014-15.

USDA estimates Nepal’s MY 2014-15 (October 2014 – September 2015) milled rice production to slightly decline to about 3.1 million tons (around 4.65 million tons, basis paddy) from an estimated 3.36 million tons (around 5.05 million tons, basis paddy) in MY 2013-14. It estimates Nepal to import around 350,000 tons of rice in 2015.

GM Rice Can Protect Farmers from Hazards of Pesticide Exposure, Finds Study Jan 21, 2015

A study by Chinese researchers has found that growing of genetically modified (GM) rice can reduce pesticide usage to a larger extent and thereby protect farmers from adverse effects of being exposed to pesticides and fertilizers.

The authors of the study found that GM rice can reduce pesticide use by nearly 66%. In number terms, pesticide use can be reduced by nearly 196,000 tons annually.

An analysis of data collected from the physical examination of nearly 109 rice farmers in the Fujian province showed that GM rice can significantly reduce adverse effects of pesticides on farmers' neurological, haematological, and electrolyte system. However, the results showed that 8% of sample farmers still suffered from pesticide-related poisoning. The authors have estimated nearly 16 million rice farmers suffer from pesticide-related illness every year.

The study concludes that commercialization of GM rice can improve the health of farmers in developing countries, where pesticides and fertilizers are used heftily to increase yields and mitigate crop losses.

The study was conducted by the Center for Chinese Agricultural Policy; Institute of Geographical Sciences and Natural Resource Research; Chinese Academy of Sciences; School of Management and Economics, Beijing Institute of Technology; China Economics and

Management Academy; Central University of Finance and Economics; and Department of Neurology, Chinese PLA General Hospital.

Indonesian 2015 Paddy Rice Production Estimated at 73.4 Million Tons; Up 4% from Last Year Jan 21, 2015

Indonesia's 2015 paddy rice production is estimated to increase about 4% to around 73.4 million tons from an estimated 70.61 million tons in 2014, Reuters quoted the Agriculture Minister as saying in the Parliament today. He noted that he expects paddy rice output to reach 82.09 million ton by 2019.

The country's new President who took charge on October 20, 2014 is keen on achieving selfsufficiency in rice production and ending rice imports within the next two years. In line with targets, the government is planning to rehabilitate around one million hectares of tertiary

irrigation channels for paddy production and distribute 25,000 tons of subsidized seeds and subsidized fertilizer for around one million hectares of paddy fields. The government has allocated around Rp 2 trillion ($163.8 million) for the purpose.

Last month, the Agriculture Minister noted that in order to increase production in the major rice producing provinces, the government needs to address certain issues such as damaged irrigation channels, inefficient distribution of fertilizer and seeds, farming tools and lack of agricultural extension. He also noted that the government would distribute 57,000 tons of fertilizer and seeds for about five million hectares of rice fields across the country.

The government is also keen on achieving self-sufficiency in production of corn, sugar and soybean as well in the next four years.

USDA estimates Indonesia to produce around 36.5 million tons of rice, basis milled (around 57.4 million tons, basis paddy), and import around 1.3 million tons of rice in MY 2014-15 (January 2014 - December 2014. Consumption in 2015 is estimated at around 39.2 million tons.

Oryza Afternoon Recap - Chicago Rough Rice Futures Find Late Session Buying Interest and Shoot to Double Digit Gains Log in

Jan 21, 2015

Chicago rough rice futures for Mar delivery settled 10.5 cents per cwt (about $2 per ton) higher at $11.370 per cwt (about $251 per ton). Rough rice futures found afternoon buying interest to close with double digit gains on support from a softer dollar and firming crude prices today. The other grains finished with mixed results today; Soybeans closed about 0.1% higher at $9.8350 per bushel; wheat finished about 0.1% lower at $5.3775 per bushel, and corn finished the day about 0.6% lower at $3.8800 per bushel.

U.S. stocks were little changed Wednesday, with International Business Machines weighing on the Dow Jones Industrial Average, as investors considered whether the European Central Bank would implement a large-scale bond-purchasing program. Multiple news outlets quoted sources in reporting the ECB's executive board had proposed monthly bond purchases of roughly 50 billion euros in a quantitative easing program that would last at least a year. Ahead of Wednesday's open, stock futures maintained losses after data showing U.S. housing starts climbed more than expected in December in a hopeful sign for the sluggish housing-market recovery. After sliding 119 points, the Dow Jones Industrial Average rose as much as 84 points, and was lately up 33.33 points, or 0.2%, at 17,551.56. Erasing early losses, the S&P 500 rose

8.45 points, or 0.4%, to 2,031.00, with energy the best performing and all 10 of its major industry groups rising. The Nasdaq added 19.53 points, or 0.4%, to 4,674.37. Gold is trading about 0.1% lower, crude oil is seen trading about 1.9% higher, and the U.S. dollar is seen trading about 0.1% lower at about 1:00pm Chicago time.

Tuesday, there were 312 contracts traded, up from 138 contracts traded on Thursday. Open interest – the number of contracts outstanding – on Tuesday increased by 131 contracts to 8,707.

Pakistan Exports 490,371 Tons of Rice in December 2014; Up 7% m/m and Down 11% y/y Jan 21, 2015

Oryza.com -

Pakistan exported around 490,371 tons of rice (including basmati and non-basmati) in December 2014, up about 7% from around 459,419 tons exported in November 2014, according to

provisional data from the Pakistan Bureau of Statistics (PBS). In terms of value, Pakistan's rice export earnings increased to around $238.2 million in December 2014, up about 8% from around $221.2 million earned in November 2014.

Year-on-year, Pakistan’s exports increased about 11% from around 549,297 tons exported in December 2013. In terms of value, they declined about 9% from around $262.2 million in December 2013.

Pakistan exported around 39,200 tons of basmati rice in December 2014, down about 17% from around 47,090 tons exported in November 2014 and down about 28% from around 54,825 tons in December 2013. In terms of value, Pakistan's basmati rice exports earned $44.7 million in December 2014, down about 3% from around $46.2 million earned in November 2014, and down about 27% from around $61.3 million earned in December 2013.

Pakistan exported around 451,171 tons of non-basmati rice in December 2014, up about 9% from around 412,329 tons exported in November 2014 and down about 9% from around 494,472 tons in December 2013. In terms of value, Pakistan's non-basmati rice exports earned $193.5 million in December 2014, up about 11% from around $175 million earned in November 2014, and down about 4% from around $200.8 million earned in December 2013.

Pakistan has exported around 1.84 million tons of rice (around 278,973 tons of basmati and around 1.56 million tons of non-basmati) in the first six months of FY 2014-15 (July 2014 - June 2015), up about 8% from around 1.71 million tons (around 269,272 tons of basmati and around 1.44 million tons of non-basmati) exported during the same period in FY 2013-14. In terms of value, Pakistan's exports earned around $976.8 million (around $276 million from basmati and around $700.8 million from non-basmati) in July - December 2014 up about 3% from around $944 million (around $294.5 million from basmati and around $649.56 million from nonbasmati) earned during the same period in 2013.

Oryza U.S. Rough Rice Recap - Quiet Market with Little Buy or Sell Interest Jan 21, 2015

The U.S. cash market remains quite with little in the way of price discovery as both bids and offers continue to be hard to come by.

Analysts contend that most buyer are well covered while sellers are waiting for prices to

improve so there is very little trading to report Vietnam Scales Down Rice Export Expectations for First Quarter of 2015 Jan 21, 2015

The Vietnam Food Association (VFA) has scaled down expectations on the country's rice exports in the first three months of 2015 to around 900,000 tons, according to local sources. The expected export figure is lowest level for the first quarter of the year since past several years, said local sources. Vietnam exported around 800,000 tons of rice in the first quarter of 2014 and around 1.45 million tons of rice during the same period in 2013.

The VFA lowered its expectations for first quarter exports based on increasing supplies from Thailand and India as well as declining export demand from African countries. The VFA expects Vietnam to export over 7 million tons of rice (including official and unofficial exports to China) in 2015. In 2014, Vietnam exported around 6.32 million tons of rice through official channels and around 2 million tons of rice through unofficial channels, according to the VFA. This year, unofficial rice exports are expected to come down due to strict controls being imposed by Chinese authorities on the borders.

The VFA Chairman told local sources that Vietnamese rice exporters have already signed contracts for exporting around 500,000 tons and have to find markets for the around 400,000 tons to meet the expected export level in the first quarter of the year.

Experts have been warning that the Vietnamese rice sector is plagued by financial difficulties, poor cultivation planning and outdated technology. They have been urging the government to

increase production of higher quality rice and focus on attracting high-end markets in order to increase competitiveness of the Vietnamese rice as well raise farmers and exporters' incomes.

VFA's Secretary General told local sources that exporters have been improving coordination with farmers as well as enhancing the quality and value of rice. He also noted that the government is stepping up efforts to create a national brand for the country's rice to enhance export competitiveness of Vietnamese rice.

Currently, export price of Vietnam 5% rice stands at around $370 per ton while that of India 5%, Pakistan 5% and Thai 5% rice stand at around $400 per ton, $365 per ton and $410 per ton respectively.

Vietnam Rice Sellers Lower Most of Their Quotes; Other Asia Rice Quotes Unchanged Jan 21, 2015

Vietnam rice sellers lowered most of their quotes by about $5 - $10 per ton today. Other Asia rice sellers kept their quotes mostly unchanged today.

5% Broken Rice Thailand 5% rice is quoted at around $405 - $415 per ton, about $40 per ton premium on Vietnam 5% rice shown at around $365 - $375 per ton, down about $10 per ton from yesterday.

India 5% rice is quoted at around $395 - $405 per ton, about $35 per ton premium on Pakistan 5% rice quoted at around $360 - $370 per ton.

25% Broken Rice Thailand 25% rice was last quoted at around $350 - $360 per ton, about $10 per ton premium on Vietnam 25% rice shown at around $340 - $350 per ton. India 25% rice is quoted at around $360 - $370, about $40 per ton premium on Pakistan 25% rice quoted at around $320 - $330 per ton.

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 $10 per ton discount to Pakistan parboiled rice quoted at around $400 - $410 per ton.

100% Broken Rice Thailand broken rice, A1 Super, is quoted at around $320 - $330 per ton, about $5 per ton premium on Vietnam 100% broken rice shown at around $315 - $325 per ton, down about $5 per ton from yesterday. India's 100% broken rice is shown at around $300 - $310 per ton, about $10 per ton premium on Pakistan broken sortexed rice quoted at around $290 - $300 per ton.

U.S. Treasury Announces New Trade Norms with Cuba Jan 21, 2015

The U.S. Treasury's Office of Foreign Assets Control (OFAC) has published the new trade norms with Cuba in the Federal Register following the President's announcement to relax trade restrictions on food items from the 50-year embargo with Cuba, according to a news release on its website.

According to the new norms, the term "cash in advance" has been simplified and would mean "cash before transfer of title or control". This would allow , Cuban importers to make payment even while goods are in transit. The OFAC also indicated that U.S. financial institutions would be allowed to open accounts at Cuban banks to facilitate easier and quicker transactions.

The regulatory changes were welcomed by rice industry as Cuba is one of the closest export destinations to the U.S. and imports about 50% of its annual rice consumption needs. Local sources say rice farmers in the U.S. rice producing states of Arkansas and Louisiana would benefit from the revised policy. "Up until now, U.S. government restrictions have limited the ability of the U.S. industry to compete in Cuba," the President and CEO of the USA Rice was quoted as saying.

USDA estimates Cuba to produce around 440,000 tons of milled rice and import around 450,000 tons of rice in MY 2014-15 (July - June) to meet a consumption demand of around 890,000 tons.

Cuba currently imports rice from Brazil, India and Thailand.

U.S. Share in 2014 South Korean Rice Imports Declines Due to Higher Prices Jan 21, 2015

The U.S. share in South Korea's total rice imports in 2014 declines to about 15% from about 30% in 2013 due to high prices driven by drought conditions, according to the USDA Post.

The U.S. accounted for around 60,067 tons in South Korean rice imports of around 408,700 tons under 2014 minimum market access (MMA), while it accounted for around 114,600 tons in Korea's total imports of around 388,353 tons under 2013 MMA.

In 2014, the U.S. sold around 50,076 tons of rice to South Korea under Country Specific Quota (CSQ) and around 10,000 tons under Global Quota. Of the 50,076 tons under the CSQ, U.S. sold around 17,299 tons of brown rice (equivalent to 15,569 tons on milled basis) and around 44,507 tons of milled rice. While U.S's milled rice sales (for table purpose) to Korea increased about 5.2% in 2014 from around 42,291 tons in 2013, its sales of brown rice (for processing purpose) during the year declined about 28% from around 7,785 tons last year.

South Korea imported around 408,700 tons of rice (milled basis) in 2014 from the U.S., China, Thailand, Australia, Vietnam and India. It imported around 203,472 tons under global quota and around 205,228 tons under CSQ. The average contracted price for U.S. #1 table rice was at about $1,055.27 per ton, up about 27% from around $830.92 per ton last year. Average price for U.S. #3 table rice was at about $1,009.80 per ton, up about 26% from around $801.43 per ton last year.

The Korea Agro-Fisheries and Food Trade Corporation (KAFTC) completed the tendering process for the 2014 MMA commitments of rice on December 10, 2014.

Thai NACC and OAG Joint Panel Recommend Criminal Charges Against ExPremier in Rice Pledging Case Jan 21, 2015

The joint panel comprising members of the National Anti-Corruption Commission (NACC) and the Office of the Attorney General (OAG) has agreed to recommend criminal charges against the former Prime Minister under the criminal Code's Section 157, according to local sources.The panel started investigation work into the rice pledging case on September 9, 2014 after Thailand's Attorney General has sought more evidences from the NACC before concluding the prosecution of the former PM. The panel completed discussions related to the former Prime Minister's (PM) alleged

dereliction of duty in managing the controversial rice pledging scheme that brought losses of over 500 billion baht (around $15.6 billion) to the exchequer.

It is likely to recommend to the Attorney General to indict the former PM with the Supreme Court's Criminal Division for Holders of Political Position. If found guilty, the ex-Premier may face jail term up to ten years.

Separately, the Thai National Legislative Assembly (NLA) is dealing with the former PM's impeachment hearing and the NLA members will vote on January 23, 2015, whether she was guilty of dereliction of duty. The vote requires a three-fifths majority to pass a judgement.

The NACC yesterday stated that it will charge former Commerce Minister, the former Deputy Commerce Minister as well as 20 state officials and employees of private firms for alleged corruption in rice export deals with two Chinese firms.

Meanwhile, the Thai Commerce Minister told local sources that Thailand exported around 10.8 million tons of rice in 2014, up about 64% from around 6.6 million tons exported in 2013.

Oryza Overnight Recap - Chicago Rough Rice Futures Trade Higher Overnight on Support from Firmer Grains Log in

Jan 21, 2015

Chicago rough rice futures for Mar delivery are currently listed 9.5 cents per cwt (about $2 per ton) higher at $11.360 per cwt (about $250 per ton) ahead of floor trading in Chicago. The other grains are seen mostly higher: soybeans are currently seen 0.2% higher, wheat is listed about 1.3% higher and corn is currently noted about 0.2% lower.

U.S. stock-index futures signaled a softer open on Wednesday as investors face another day of big-name technology and bank earnings, amid speculation that the European Central Bank will announce a new stimulus package Thursday. Stock futures maintained losses after data showing U.S. housing starts climbed more than expected in December in a hopeful sign for the sluggish housing-market recovery. Investors are also on standby ahead of the ECB meeting, with a fullscale bond-buying program considered likely. Analysts expect the ECB Governing Council to agree on a package of at least 500 billion euros (circa 5% of GDP). European stocks traded flat to lower ahead of the meeting. What had looked like a good thing for consumers and their disposable income with the falling price of oil has shifted to hand-wringing amid stories of what crude's drop means for the global economy and capital spending. The first full day of the World

Economic Forum in Davos, Switzerland also kicks off Wednesday, where heads of state and government as well as global business leaders are attending, including Chinese Prime Minister Li Keqiang, French President Franรงois Hollande and German Chancellor Angela Merkel. Gold is currently trading about 0.5% higher, crude oil is seen trading about 1.7% higher, and the U.S. dollar is currently trading about 0.6% lower at 8:30am Chicago time.

USDA Post Estimates Mexico MY 2014-15 Rice Imports at 775,000 Tons, Up 11% from Last Year Log in

Jan 21, 2015

USDA Post estimates Mexico's rice imports at around 775,000 tons in MY 2014-15 (October 2014 - September 2015), up about 10.7% from an estimated 700,000 ton in MY 2013-14, and unchanged from USDA's official estimates of 775,000 tons, based on information from the Secretariat of Agriculture, Livestock, Rural Development, Fisheries and Foodstuffs (SAGARPA).

Last month, Mexico has announced reinstatement of 9% tariff on imported paddy rice and 20% tariff on husked, long grain and other imported rice from all the countries that do not have free trade agreements (FTAs). However, the U.S. is exempted from the tariff because of its inclusion

in the North America Free Trade Agreement (NAFTA). The tariff rates have been effective from January 9, 2015.

The Mexican government has announced the reinstatement of tariffs in a decree that was published in the Diario Official (Mexico's Federal Register) on December 10, 2014. Last month, the Post reported that the government decided to modify the import Law based on requests from the Mexican Rice Council (MRC) for the re-establishment of import tariffs, which were discontinued in 2008 to reduce rice prices in the country.

The Post estimates total paddy rice production for MY 2014-15 at around 226,000 tons (around 155,000, basis milled), up about 18% from an estimated 191,000 tons (around 131,000, basis milled) in MY 2013-14 and up about 6% from USDA's official estimates of around 214,000 tons (around 147,000 tons, basis milled). The likely increase in production is attributed to favorable weather conditions and increase in yields.

The Post estimates Mexico's MY 2014-15 milled rice ending stocks at around 195,000 tons, up about 23% from an estimated 158,000 tons in MY 2013-14 and up about 4% from USDA's official estimates of around 187,000 tons.

Philippines 2014 Paddy Rice Output Increases 2.87% y/y to 18.97 Million Tons Jan 21, 2015

The Philippines 2014 paddy rice output has increased about 2.87% to around 18.97 million tons (around 11.95 million tons, basis milled) from around 18.44 million tons (around 11.62 million tons, basis milled) in 2013, according to a report by the Philippine Statistics Authority (PSA).

While the harvest area in 2014 declined slightly to around 4.73 million hectares from around 4.74 million hectares in 2013, yield increased to around 4 tons per hectare from last year's 3.89 tons per hectare. The increase in yields is attributed to enhanced use of high yielding variety seeds (HYVs) and fertilizers, favorable weather conditions as well as government interventions.

The Philippines paddy rice output in 2014 has exceeded the PSA's estimation of around 18.88 million tons. Significant production growths were recorded in Central Luzon, Cagayan Valley, MIMAROPA, Northern Mindanao and Davao Region, according to the PSA. The PSA is expecting a fairly decent crop in 2015 as well. The agency estimates Philippines to produce around 8.55 million tons of paddy rice in the first half-part (January - June) of 2015, up about 2.02% from around 8.38 million tons produced during the same period in 2014. It estimates the harvest area to increase slightly to around 2.099 million hectares from last year's

2.098 million hectares. It also estimates the yield to increase about 1.95% to around 4.07 tons per hectare in 2015 from around 3.99 tons per hectare in 2014.

Based on standing crop, the PSA is estimating the Philippines' paddy rice output in the first three months (January - March) of 2015 at around 4.59 million tons, up about 6.62% from around 4.31 million tons during the same period last year. The harvest area is expected to increase to around 1.17 million hectares from around 1.16 million hectares last year. Yield is expected to increase to around 3.93 tons per hectare from last year's 3.72 tons per hectare.

USDA estimates Philippines MY 2014-15 (July - June) paddy rice production at around 19.365 million tons (around 12.2 million tons, basis milled), up about 3% from around 18.822 million tons (around 11.8 million tons, basis milled) produced in the previous year. It estimates Philippines 2014-15 milled rice imports at around 1.6 million tons, up about 10% from last year.

Recent Trends of EU Basmati Rice Imports Log in

Jan 21, 2015

An analysis of basmati rice imports by the European Union (EU) nations over the last three crop years (2012-13 to 2014-15) shows that the share of India has been declining while that of Pakistan has been increasing.

The share of India's basmati rice in EU basmati rice imports has declined from about 95% in 2012-13 to around 58% in 2014-15, while the share of Pakistan's basmati rice has increased from about 5% in 2012-13 to around 42% in 2014-15. European nations imported around 118,478 tons in 2012-13, around 81,304 tons in 2013-14 and around 87,071 tons in 2014-15.Within the EU, United Kingdom (UK) has been the largest buyer of basmati rice in all the three years. While the UK bought around 38,307 tons (about 44% of Europe's total basmati rice imports) in 2014-15, it bought around 28,231 tons (about 35% of Europe's total basmati rice imports) and around 54,533 tons (about 46% of Europe's total basmati rice imports) in 2013-14 and 2012-13 respectively.According to the EU data, Netherlands with around 18,936 tons; France with around 7,708 tons; Belgium with around 7,352 tons and Italy with around 6,967 tons remained other top buyers of basmati rice in 2014-15.

Thailand Government to Allow Bidders to Inspect Rice Stocks Before Auctions Jan 21, 2015

The Thailand government will reportedly allow prospective bidders to inspect samples of rice stocks being put up for sale before the scheduled auction on January 29, 2015, according to Wall Street Journal reports.The government is planning to auction around 850,000 tons of 5% broken rice and around 150,000 tons of jasmine rice on January 29. The Ministry is said to have loosened its norms to ensure more transparency in rice sales. Bidders are said to have been complaining of not being able to inspect rice stocks before auctions. It is also understood to have agreed to extend time for contract signing by winning bidders to two weeks from the existing 10 days.The Thai government currently holds around 17.8 million tons of rice in its stockpiles. The Commerce Ministry stated its plans to sell around 10 million tons of stockpiled rice in 2015 and around 7 million tons in 2016 through tenders. Thailand sold around 681,740 tons of rice in four tenders last year after the military government took over on May 22, 2014. The government has also struck government-togovernment deals for about 570,000 tons last year, according to Ministry sources.