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24th April , 2014

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TOP Contents - Tailored for YOU Latest News Headlines…                

Oryza U.S. Rough Rice Recap - Cash Prices Unchanged as Futures Trade Sideways Oryza Rice Currency Analysis for Today – Brazil Real Rallies 0.5% Oryza Afternoon Recap - Chicago Rough Rice Futures Remain Range-Bound While Corn Continues to Rally Resilient Traits in African Rice Key to Self-Sufficiency? Thailand Government Sells 162,344 Tons of Rice in AEFT Auction India Likely to Receive Below-Normal Rainfall in 2014 Due to El Niño, Private Weather Agency Says Indonesia Plans to Amend ‘Rice for the Poor’ Program to Remove Irregularities Oryza Overnight Recap - Chicago Rough Rice Futures Hold Steady Despite Continued Softness in Other Grains ormer Ghana President Criticizes Government Rice Policy Thailand Rice Prices Drop Ahead of AFET Auction Russia Bans Production, Import of GM Rice for Three Years Taiwan to Assist Haiti in Increasing Rice Production Brazil Paddy Rice Index Increases 1% in Last Week Thailand Signs MOU with Philippines to Supply 3 Million Tons of Rice in 2014-2016 South Korea Tenders to Purchase 42,400 Tons of Rice Oryza Global Rice Quotes

News Detail… Oryza U.S. Rough Rice Recap - Cash Prices Unchanged as Futures Trade Sideways Apr 23, 2014

As of today, old crop offers could still be found as low as $15.55 per cwt fob farm (about $343 per ton) for nearby shipment; however, most farmers are still looking to net at least $16.11 per cwt fob farm (about $355 per ton).Old crop bids from larger mills were unchanged today around $14.95 per cwt (about $330 per ton) for April-May delivery while bids for exporters held steady near $15.40-$15.65 per cwt (about $340-$345 per ton), for the same delivery period, which generated very little interest as smaller mills are still said to be willing to

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pay around $16.00-$16.30 per cwt (about $353-$359 per ton) for prompt delivery although no trades were reported. As for new crop, offers could be found around $13.33-$13.66 per cwt fob farm (about $294-$301 per ton) for September through December delivery while bids could still be seen near $13.00-$13.25 per cwt fob farm (about $287-$292 per ton) depending on the location of the rice and how quickly the seller could ship. Tags: U.S. rice prices; U.S. rice market

Oryza Rice Currency Analysis for Today – Brazil Real Rallies 0.5% Apr 23, 2014

U.S. dollar index was down -0.06% from the open today, when it traded at 79.856 at the close. Euro was stronger +0.09% by the close, trading around 1.3818 by end of day, after trading between an intraday high of 1.3855 and low of 1.3800. Thai baht was weaker -0.12%, trading at 32.359 at the close of business. Indian rupee was weaker -0.52% at 61.0850. Brazilian real was stronger +0.52% at the close of trading today, trading at 2.2256 reais per dollar. Pakistan rupee was +0.26% stronger at 97.8457. Vietnamese dong was weaker -0.07% at 21113. Mexican peso was weaker -0.15% today, when it traded at 13.0760 pesos per dollar by the close of business. Chinese yuan was weaker -0.02%, trading at 6.2380. Argentine peso was stronger +0.03% at 7.9992 pesos per dollar. Tags: foreign exchange rates, brazil real, rice currencies, Global rice trade

Oryza Afternoon Recap - Chicago Rough Rice Futures Remain Range-Bound While Corn Continues to Rally Apr 23, 2014

Chicago rough rice futures for Jul delivery settled 1 cent per cwt (about $0.24 per ton) lower at $15.300 per cwt (about $335 per ton). The other grains finished the day with mixed results as soy products continue to slip, while corn and wheat continue to bounce; soybeans closed about 0.4% lower at $14.6475 per bushel; wheat

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finished about 0.5% higher at $6.8275 per bushel, and corn finished the day about 1.5% higher at $5.0950 per bushel. U.S. stocks declined on Wednesday, with Wall Street retreating after a sixth day of gains for the S&P 500 and Nasdaq, after data had new home sales declining in March and companies reported quarterly results. The Markit survey of U.S. purchasing managers came in at 55.4 for April, below estimates of 56.0. Stocks rose on Tuesday, with the S&P 500 extending its longest winning run since September, with investors enthusiastic after a round of quarterly earnings and a pickup in M&A activity. Recovering some from a 37-point fall, the Dow Jones Industrial Average was lately down 24.08 points, or 0.2%, at 16,490.29. The S&P 500 fell 2.55 points, or 0.1%, to 1,877, with telecommunications hardest hit and utilities faring best among its 10 major sectors. The Nasdaq declined 23.35 points, or 0.6%, to 4,138.11. Gold is trading about 0.3% higher, crude oil is seen trading about 0.1% higher, and the U.S. dollar is seen trading about 0.1% lower at about 1:00 pm Chicago time.Tuesday, there were 1,257 contracts traded, down from 1,980 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday decreased by 90 contracts to 8,281. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures

Resilient Traits in African Rice Key to Self-Sufficiency? Apr 23, 2014

Scientists are constantly trying to develop new strains of rice that thrive on a planet deep in the throes of climate change. More rain, less rain, more heat, less heat – any change in the norm poses special complications for plants that are accustomed to very specific environmental conditions. That’s why the Africa Rice Center has launched a 5-year project that will work to isolate high-value genes in African rice that can cope with drought, flood, and soil-related constraints. Oryza glaberrima, or African rice, is a cultivated species found only in Africa. Most rice research and breeding for stress-tolerance is conducted with Oryza sativa, or Asian rice. Researchers think African rice might provide key genetic material for resistance to drought, iron toxicity, and flooding during germination, especially – three challenges that African rice farmers face regularly. Almost 70% of Sub-Saharan Africa’s rice acreage is rainfed, leaving about 7 million hectares of rice area in Sub-Saharan Africa at-risk for drought. About 53% of rice grown in Sub-Saharan Africa is grown in lowland rice ecologies, where iron toxicity is a serious threat. Most lowland rice farmers there use direct-seeding, which leaves their crop at risk if flooding occurs during germination. While these issues are not unique to African rice farmers, rice farmers in Sub-Saharan Africa are especially threatened by these potential constraints and the unpredictability that accompanies them.The first step in the project will be identifying genes and gene-based markers that are related to iron tolerance, drought tolerance, and anaerobic germination ability (or, resistance to flooding during germination). The desirable genes will then be incorporated into rice varieties with other characteristics farmers prefer and that make them commercially valuable. These developments couldn’t come at a better time. Many countries in Africa are trying to increase their productivity and achieve self-sufficiency in rice in coming years – most notably, Nigeria is aiming for 2015, Ghana by 2017, Senegal by 2018, Gambia by 2016, and Mozambique by 2017-18. All of them are struggling to

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make adequate progress towards that goal, and most industry members agree that developing stress-tolerant rice (along with better domestic infrastructure) is the key to stabilizing and increasing rice production in Africa.For this project, AfricaRice is partnering with the National Institute of Agrobiological Sciences (NIAS) in Japan; Cornell University in the U.S.; the International Rice Research Institute (IRRI) in the Philippines), and the National Cereals Research Institute (NCRI) in Nigeria for this project, and the Bill & Melinda Gates Foundation is supporting its work in this project. Tags: Africa rice, Research, stress-tolerant rice, Drought, Flood tolerant rice variety

Thailand Government Sells 162,344 Tons of Rice in AEFT Auction Apr 23, 2014

The Thailand government has auctioned 162,344 tons of rice from over 212,900 tons of rice offered in this year’s tenth auction through the Agricultural Futures Exchange of Thailand (AFET) today. Official sources say that around 14 rice traders participated in the auction.The government had offered around 50,000 tons of Jasmine rice and about 160,000 tons of 5% moisture white rice in today’s auction. Official sources said today that the prices of 5% moisture white rice have declined to around to around 11-12 baht per kilogram (about $341 - $372 per ton) due to the failure to win the recent tender to supply 800,000 tons of rice to the Philippines. The Commerce Ministry says that prices are unlikely to drop further.The Commerce Ministry is targeting to sell around one million tons of rice via AFET by June this year. The government has already sold around 700,000 tons of rice in the 10 AFET auctions so far, and another 300,000 tons of rice will be auctioned before June, the deputy commerce minister says. Tags: Thailand rice auctions, Agricultural Futures Exchange of Thailand (AFET), Thailand rice exports, Philippines rice imports, Thailand rice prices

India Likely to Receive Below-Normal Rainfall in 2014 Due to El Niño, Private Weather Agency Says Apr 23, 2014

A private weather agency in India says that monsoon rains are likely to be below normal in India in 2014 due to a possible El Niño.Earlier this week, sources from the Indian Meteorological Department (IMD) told local media that rainfall is likely to be normal (96% of the 50-year average of 89 centimeters) in the June-September period this year. An official monsoon forecast by the IMD is expected in June. However, the private weather agency says that rainfall in India during the regular monsoon season (June September) is likely to be around 6% lesser in 2014 compared to that in 2013 based on historical data. This forecast concurs with several climate models by international weather agencies. The U.S. Climate Prediction

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Center says that the odds of an El Niño occurring this year have increased to 65% from 52%, while the Australia's Bureau of Meteorology (ABM) says that the pattern may develop as early as July and that monsoon will be below-normal in India this year.India experienced droughts due to El Niño phenomenon in 2002, 2004, 2009 and 2012, according to the IMD. The 2009 drought was very severe and caused India's rice production to decrease by about 10%. However, India has witnessed normal or above-normal rainfall during some El Niño years. A lower than normal monsoon will have a negative impact on the production of commodities such as rice, sugar, cotton and wheat in the MY 2013-14 (July - June). Economists say a bad monsoon may increase food inflation this year. Consumer price inflation averaged 10.07% in 2013 despite India producing record crops. Increased inflation levels may lead to higher interest rates in the country, say economists. According to estimates from the Central Statistics Office (CSO), the Indian economy grew by 4.9% in the FY 2013-14, compared to 4.5% growth in the previous fiscal year. Lower than expected monsoon rains may impact the growth rate in the FY 2014-15.However, the Indian Ocean Dipole (IOD), which indicates the impact of El Niño on the Indian subcontinent, is currently in a neutral state, according to a report by the ABM. "Model outlooks currently suggest the IOD is likely to remain neutral through late autumn and early winter, with two of the five models surveyed suggesting a positive IOD may develop by early spring," said the report.

Tags: El Niño, India rice production, Food inflation, Indian Ocean Dipole (IOD), Australia's Bureau of Meteorology (ABM), U.S. Climate Prediction Center

Indonesia Plans to Amend ‘Rice for the Poor’ Program to Remove Irregularities Apr 23, 2014

The Indonesian government will amend its “Raskin” or "rice for the poor" program in 2014 to remove irregularities in the program, according to local sources.The Corruption Eradication Commission (KPK) says that the Raskin program is plagued by cartel practices and several other irregularities including: invalid data of targeted households, fictitious distribution of Raskin rice, rice-price hikes despite subsidies, unfair distribution, and poor rice quality.The KPK Deputy Chief alleges that several eligible households receive less than the promised quantity of 15 kilograms of rice under the Raskin program. The KPK Deputy Chief also claims that the funds used to run the program exceeded the allocated budget in the last three years.The government says it will address the allegations made by KPK and will focus on the planning, implementation and supervision of the Raskin system in the amendments. The Coordinating People's Welfare Minister says that the Ministry would monitor the accuracy, timing, quantity and quality of rice slated for distribution.The Coordinating People's Welfare Minister also says that the action plan to redesign the Raskin program will be released in a month, and reiterated that the program will continue because of its benefits.

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Tags: Indonesia rice sector, Raskin, Corruption Eradication Commission (KPK), People's Welfare Ministry, Public Distribution System (PDS)

Oryza Overnight Recap - Chicago Rough Rice Futures Hold Steady Despite Continued Softness in Other Grains Apr 23, 2014

Chicago rough rice futures for May delivery are currently paused 1.5 cents per cwt (about $0.33 per ton) higher overnight at $15.205 per cwt (about $335 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 0.6% lower, wheat was paused about 0.4% lower, and corn is noted about 0.1% higher. U.S. stock index futures seesawed on Wednesday, as investors digested another wave of major earnings. New home sales data for March are out on Wednesday, but the focus is likely to be on the Market manufacturing purchasing managers' index (PMI). After a string of positive data surprises, this will give an indicator of how next week's official Institute for Supply Management (ISM) manufacturing data might read. Outside of the U.S., HSBC published factory activity figures for China that showed a further decline in April. PMI came in at 48.3, indicating a contraction for a fourth consecutive month. U.S. stock index futures are currently trading about 0.1% lower, gold is currently trading about 0.3% higher, crude oil is seen trading about 0.2% lower, and the U.S. dollar is currently trading about 0.2% lower at 8:00am Chicago time.

Former Ghana President Criticizes Government Rice Policy Ghana’s former President John Agyekum Kufour says that the country’s rice import bill could double to around $1 billion by 2019 unless the government forms a strong policy to increase rice production.The former President told local sources that Ghana's rice consumption is estimated to increase to about 1.68 million tons by 2019, up about 82% from the current levels of around 925,000 tons. He says that currently Ghana spends about $500 million to import rice and the country relies on imports to meet about 62% of local consumption.The former President says, “With the right policy framework, engaging proper research, improved seedlings, extension services and irrigation, access to credit, and training of farmers, production in the country could be explosive." He also says that right policies for infrastructure of feeder roads, electricity, education and health centers would help boost rice production in the country.However, the Minister for Food and Agriculture says that Ghana is expected to become self-sufficient in rice by 2017. He says that the government has allocated rice production targets for all regions in the country to reach the goal. He says that the Japanese government has promised to provide grants to Ghana’s rice sector.According to the USDA, Ghana’s rice production in MY 2013-14 (October - September) is estimated at 300,000 tons (milled basis) against a consumption of around 925,000 tons. Ghana’s rice imports are estimated at about 575,000 tons in MY 2013-14. Tags: Ghana rice production, Ghana rice imports, Ghana rice consumption, USDA rice, John Agyekum Kufour

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Thailand Rice Prices Drop Ahead of AFET Auction Apr 23, 2014

Rice prices of 5% moisture Thailand rice have declined to around 11-12 baht per kilogram (about $341 - $372 per ton), down about 0.30 baht per kilogram (about $9 per ton) from last week ahead of Agricultural Futures Exchange of Thailand (AFET) rice auction today.According to the Department of Internal Trade (DIT), rice prices have dropped due to the government’s failure to sell 800,000 tons of rice to the Philippines in a tender last week. The DIT Director-General says the failure to win the Philippines tender has “shaken confidence” of the bidders expected to participate in today’s rice auction. However, the DIT will negotiate with bidders to prevent rice prices from dropping any further, the DIT Director-General says.

The DIT Director-General also says that several countries such as Middle East nations, South Korea, African countries, and China are interested to import rice from Thailand, and this may help prices to recover next month.In today’s 10th AFET rice auction, the government is offering over 200,000 tons of pledged rice in stock, including 50,000 tons of Jasmine rice and 160,000 tons of 5% moisture white rice. The DIT DirectorGeneral hopes the government will be able to sell around 100,000 tons of rice in today’s auction.The DIT has sold 547,000 tons of rice, worth over 7 billion baht (about $217 million), in the previous nine auctions this year. Tags: Thailand rice auction, Thailand rice prices, Thailand rice exports, Philippines rice imports, Agricultural Futures Exchange of Thailand (AFET)

Russia Bans Production, Import of GM Rice for Three Years Apr 23, 2014

Russia has banned planting of genetically modified (GM) rice for the next three years due to lack of certification facilities, according to RT Network.Russia had planned to allow planting of GM crops from July 2014 as a part of Russia's accession to the World Trade Organization (WTO). However, the Russian Prime Minister said this week that the deadline is postponed due to insufficient gene laboratories to meet the demand for certification in Russia. He added that a proper certification will be needed despite strict regulation of the sale of GM seeds in Russia.The Russian Prime Minister says that GM products will not

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be developed in Russia until the risks are fully evaluated. He also reiterated that Russia will not import any GM products, including rice, from other countries.Currently, there is no limitation on the trade or production of GMO products in Russia, but according to an amendment of the existing law on “Safety and Quality of Alimentary Products”, when the percentage of GMO exceeds 0.9% in products, producers have to label such goods and warn consumers. The law was amended based on a demand from the MPs of the parliamentary majority United Russia party. Tags: Russia rice production, GM rice, Genetically modified (GM) rice, World Trade Organization (WTO), Russia rice imports

Taiwan to Assist Haiti in Increasing Rice Production Apr 23, 2014

Taiwan will assist Haiti in increasing rice production to address food security in Haiti under an agreement signed between the two countries, according to local sources.Taiwan's Foreign Minister and his Haitian counterpart signed the agreement this week. The two countries have also launched a “20142018 program” under which Taiwan will assist Haiti in setting up a national rice research center. The program is expected to improve rice production in Haiti by 2,000 tons per year by using quality seeds, which will benefit around 51,000 families in the country, say local sources.Agriculture is an important part of the cooperation between Taiwan and Haiti, according to the Taiwan's Foreign Ministry and the new agreement is part of the continued efforts to increase rice production in Haiti.Haiti relies on rice imports to

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meet domestic demand for rice. According to USDA, Haiti is expected to produce around 78,000 tons of rice in MY 2013-14 (July - June), and import around 415,000 tons of rice during the year to meet the rice consumption needs of 490,000 tons. Tags: Haiti rice production, Taiwan rice production, Haiti rice imports, Taiwan rice research, Taiwan rice consumption

Brazil Paddy Rice Index Increases 1% in Last Week Apr 23, 2014

The Brazilian paddy rice index maintained by CEPEA stood at around 35.33 real per 50 kilograms as of April 22, 2014, up about 1% from around 34.89 real per 50 kilograms recorded on April 14, 2014.In terms of USD per ton, the index stood at around $315.2 per ton on April 22, 2014, up slightly from around $314.89 per ton recorded on April 14, 2014.

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Tags: Brazil paddy rice index cepea

Thailand Signs MOU with Philippines to Supply 3 Million Tons of Rice in 2014-2016 Apr 23, 2014

The Thai caretaker government has signed a Memorandum of Understanding (MOU) with the Philippines to supply 3 million tons of white rice over the next three years (2014-2016) at market prices, according to local sources.Thailand will sell up to one million tons a year, according to the agreement. The Caretaker Commerce Minister said the Department of Foreign Trade and the National Food Authority (NFA) of the Philippines will oversee the Thai-Philippine rice trade. The MOU will allow Thailand government to sell rice to the Philippines under government-to-government (G2G) deals. However, the President of the Thai Rice Exporters Association (TREA) said the MOU may not be useful to Thailand as the Philippines is not obligated to buy rice from Thailand under the agreement. The TREA President says the government should have negotiated with the Philippines to increase its rice-import quota to compensate for high import tariffs. Currently, the Philippines imports about 350,000 tons of rice under the minimum access volume (MAV) country specific quotas (CSQ) and levies 40% duty on imports within the MAV-CSQ quota and 50% on imports outside the quota. Separately, the Thailand caretaker government is planning to borrow an additional 40 billion baht (around 1.2 billion) from the Central Budget to pay farmers under the rice pledging scheme. Local sources say the government is likely to seek the approval of the Election Commission (EC) to borrow additional funds from the Central Budget. The government has to repay 20 billion baht (around $618 million) that it had earlier borrowed from the Central Budget before May 31, 2014.

South Korea Tenders to Purchase 42,400 Tons of Rice South Korea is seeking to purchase 42,400 tons of rice in an international tender. South Korea is looking for 4,451 tons of rice of U.S. origin and the remaining from other countries, according to Reuters.The last date for submission of applications is May 8, 2014 and delivery is expected between September 30 and October 31, 2014.

Oryza Global Rice Quotes April 23rd, 2014 Long grain white rice - high quality Thailand 100% B grade 395-405 Vietnam 5% broken 385-395 ↔ India 5% broken 420-430 ↔

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Pakistan 5% broken Cambodia 5% broken U.S. 4% broken Uruguay 5% broken Argentina 5% broken

410-420 435-445 580-590 620-630 615-625

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Long grain white rice - low quality Thailand 25% broken 340-350 ↔ Vietnam 25% broken 355-365 ↔ Pakistan 25% broken 370-380 ↔ Cambodia 25% broken 410-420 India 25% broken 375-385 ↔ U.S. 15% broken 555-565 ↔

Long grain parboiled rice Thailand parboiled 100% stxd 415-425 Pakistan parboiled 5% broken stxd 435-445 India parboiled 5% broken stxd 400-410 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken 590-600 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 940-950 Vietnam Jasmine 495-505 ↔ India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 870-880 ↔ Brokens Thailand A1 Super 305-315 ↔ Vietnam 100% broken 335-345 Pakistan 100% broken stxd 325-335 Cambodia A1 Super 350-360 ↔ India 100% Broken stxd 305-315 Egypt medium grain brokens NQ ↔ U.S. pet food 470-480 ↔ Brazil half grain 345-355 ↔ Medium grain milled U.S. Calrose 4% broken 1070-1080 Egypt medium grain 6% NQ ↔

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For Advertising SPECS & RATES Contact: Advertising Department Mujahid Ali mujahid.riceplus@gmail.com

+92 3

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

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