24th march,2014 daily exclusive oryza news by riceplus magazine

24th March , 2014

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TOP Contents - Tailored for YOU Latest News Headlines…  Oryza Afternoon Recap - Chicago Rough Rice Futures Tumble to Loss for the Week under Bearish Influence of Grains  Oryza White Rice Index - Finishes Week at $457 per Ton, Pulled Higher by South American Quotes  Oryza Rice Currency Analysis for Today – India Rupee Up 0.7%  Oryza U.S. Rough Rice Recap - Market Takes Slightly Weaker Tone after Missing Out on another Iraqi Tender  Thailand Constitutional Court Nullifies February 2, 2014 Election; Political Uncertainty May Hurt Rice Production, Exports  Pakistan Exports Over 2 Million Tons of Rice in July 2013 – February 2014; Down 3% from Previous Year  Vietnam Agricultural Officers Call for Rice Farming Reforms to Control Prices  Nigeria Government Lacks Resources, Political Will to Stop Informal Rice Imports, Says USDA Post  South Korea Purchases 42,500 Tons of Rice of Thailand, Vietnam Origins  Asia Rice Quotes Unchanged Today  Bangladesh Aus, Aman Rice Production Reaches 15.35 Million Tons in FY 2013-14; Up 2% from Previous Year  Guyana’s Burma Rice Research Station to Introduce 20 New Rice Varieties Soon  Bangladesh Government to Procure One Million Tons of Boro Rice in FY 2014-15  Oryza Global Rice Quotes

NEWS DETAILS: Oryza Afternoon Recap - Chicago Rough Rice Futures Tumble to Loss for the Week under Bearish Influence of Grains Mar 21, 2014

Chicago rough rice futures for May delivery settled 13 cents per cwt (about $3 per ton) lower at $15.425 per cwt (about $340 per ton). Rough rice futures erased gains earned earlier in the week, at one point this morning tumbling over 20 cents per cwt (about $4 per ton) on an uptick in trade activity. Today's action saw prices break below multiple layers of support noted at $15.500 per cwt, $15.450 per cwt and ultimately around $15.400 per

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cwt (about $342, $341, and $340 per ton) before ultimately recovering slightly to close just above the lowest point of technical support noted. Of particular interest is the market's inability to maintain its placement in positive territory above the 20-day moving average, a negative signal for early trading next week. Today's losses were enough to push prices to a loss on the week despite solid gains on Monday as well as increases on Wednesday and Thursday.

Upon the ringing of the closing bell today the market shed 4 cents per cwt (about $1 per ton) from its close this time last week. The other grains finished the day mostly lower, with only corn able to pull off a marginal gain; soybeans closed about 1.7% lower at $14.0875 per bushel; wheat finished about 1.5% lower at $6.9325 per bushel, and corn finished the day about 0.1% higher at $4.7900 per bushel.U.S. stocks wavered on Friday, with the S&P 500 easing gains after rising to an intraday record, as investors considered Ukraine ahead of the weekend. The standoff had the European Union inking a pact with Ukraine and widening sanctions. President Barack Obama on Thursday approved possible future penalties on Russian sectors including financial services, defense and energy. After jumping 115 points, the Dow Jones Industrial Average was recently up 25.63 points, or 0.2%, to 16,356.68. After rising to an intraday record 1,884.00, the S&P 500 shed 1.24 point, or 0.1%, at 1,870.77. Fluctuating between gains and losses, the Nasdaq was lately off 27.91 points, or 0.7%, at 4,291.38.

Gold is trading about 0.4% higher, crude oil is seen trading about 1.1% higher, and the U.S. dollar is seen trading about 0.1% lower at about 1:00pm Chicago time.

Thursday, there were 337 contracts traded, up from 331 contracts traded on Wednesday. Open interest - the number of contracts outstanding - on Thursday decreased by 33 contracts to 8,024.

Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market

Oryza White Rice Index - Finishes Week at $457 per Ton, Pulled Higher by South American Quotes Mar 21, 2014

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The Oryza White Rice Index, a weighted average of global white rice export quotes, ended the week at about $457 per ton, up about $2 per ton from a week ago, down about $4 per ton from a month ago and down about $32 per ton from year ago. Stronger quotes from Vietnam were counter balanced by weaker quotes from Thailand.On Friday, Thailand voided the previous election since not all ballots were cast on the same day, a

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requirement of the nation’s constitution. That means the uncertainty of Thailand’s political regime and the future of rice policy, including paying farmers for pledged paddy, remains very uncertain.

Thailand Thailand 5% broken rice is today quoted at about $405 per ton, down about $10 per ton from a week ago, down about $25 per ton from a month ago and down about $135 per ton from a year ago.

The Philippines National Food Authority (NFA) reports that it has not received Thailand’s application to renew its rice supply contract that expired in December, contradicting claims by the Thai caretaker government.

Local media are reporting that the caretaker government has sold about 800,000 tons of stockpiled rice at prices about 20-25% lower than market prices, using secret channels to sell the rice to specific exporters who are purchasing orders directly from the government. They are supposedly selling the rice for about 9.60 baht per kilogram (about $298 per ton), which would be a violation of WTO rules.

The caretaker government has approved payments to rice farmers from the 20 billion baht (about $621 million) loan from the Central Budget, according to local sources. The Ministry of Commerce has also launched the “Thai Rice Helps Thai Farmers” campaign, selling bagged rice to raise funds to pay farmers.

The caretaker Prime Minister says she is prepared to give her testimony to the National Anti-Corruption Commission (NACC) regarding charges related to the rice mortgage program. If found guilty, she may be forced to resign.

India India 5% broken rice is today quoted at about $425 per ton, unchanged from a week ago, up about $5 per ton from a month ago and down about $20 per ton from year ago.

Unusual rains and hailstorms are hurting the winter rice crop (November-March) in some Indian states, such as Maharastra.

The International Rice Research Institute (IRRI), a Philippines-based organization, will provide technological support to rice farmers in Assam, India, to help popularize water-resistant rice varieties there.

Vietnam Vietnam 5% broken rice is today shown about $395 per ton, up about $15 per ton from a week ago, down about $5 per ton from a month ago and unchanged from a year ago.

Vietnam exported about 787,786 tons of rice January 1 – March 13, which is about 46% less than the same period in 2013, according to the Vietnam Food Association (VFA).

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The Vietnam government is stockpiling 2 million tons of rice in efforts to keep rice prices from dropping. They also plan to export 4.27 million tons of rice by May, according to the Ministry of Industry and Trade (MOIT). Last week, the VFA lowered the minimum export price for low grade rice to $355 per ton in efforts to keep Vietnamese rice competitive against Thai rice.

Pakistan Pakistan 5% broken rice is today shown at about $405 per ton, unchanged from a week ago, up about $5 per ton from a month ago and down about $25 per ton from a year ago.

Rice farmer groups such as the Farmers’ Association of Pakistan and Rice Millers Association have voiced their opposition to the government’s decision to give non-discriminatory market access (NDMA) or Most Favored Nation (MFN) status to India, which would prevent Pakistan from imposing duties on agricultural products imported from India.

Exporters in the country are facing significant losses as the rupee sharply appreciated against the US dollar over the last three weeks.

Brazil Brazil 5% broken rice is today quoted at about $665 per ton, unchanged from a week and a month.

The Brazilian paddy rice index maintained by CEPEA declined to around 33.69 real per 50 kilograms on March 17, 2014, down about 1% from around 34.04 real per 50 kilograms recorded on March 10, 2014. In terms of USD per ton, the index stood at around $286.8 per ton as of March 17, 2014, down about 2% from around $291.5 per ton recorded a week ago.

US U.S. 4% broken rice ended the week at $585 per ton, unchanged from a week ago, up about $5 per ton from a month ago and down about $50 per ton from a year ago.

Chicago rough rice futures for May delivery were stable this week, hovering between $15.45 per cwt (about $341 per ton) and $15.505 per cwt (about $342 per ton) for most of the week. They managed to climb slowly and started Friday morning a bit higher, reaching $15.60 per cwt (about $343 per ton) before dropping sharply and leveling off back in the $15.45 range midday.

Other Markets: Uruguay and Argentina 5% rice is today shown at about $625 per ton each, unchanged from a week ago, down about $5 per ton from a month ago and up about $15 per ton from a year ago. Iraq purchased 60,000 tons of

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rice from Argentina and 30,000 tons of rice from Uruguay for $717 per ton C&F free out, according to Reuters.

Cambodia 5% broken rice is today shown at around $455 per ton, unchanged from a week and a month ago.

With less and less paddy available, higher prices seem to be rationing demand for Italian paddy rice. Since September 2013, 848,861 paddy tons (about 59% of production) have been sold. Last year at this time, about 915,374 tons (56% of production) was sold.

Italy is looking closely at the European Union’s (EU) zero-import duty status extended toward Least Developed Countries (LDCs) – such as Cambodia and Myanmar – under the Everything But Arms (EBA) agreement, saying Italian rice producers are unable to compete and the situation will worsen.

Myanmar has reported that it will try to increase its rice exports to 3 million tons in five years, which is about 3 times higher than current exports, according to the Secretary General of the Myanmar Rice Federation (MRF).

The USDA Post in Lagos predicts that Nigeria will increase its imports about 17% in MY 2014-15 (OctoberSeptember). The new estimate is 3.5 million tons of rice, up from an estimated 3 million tons in MY 2013-14 due to lower domestic production and higher demand.

The USDA Post predicts that Mexico will increase its imports about 3% in MY 2014-15 (OctoberSeptember). The country imported about 750,000 tons in MY 2013-14 and is expected to import about 775,000 tons in MY 2014-15 because domestic production is expected to diminish.

The USDA Post predicts that South Africa’s rice imports will increase to about 1.3 million tons in MY 201415 (May-April). This is about 4% more than the 1.2 million tons imported in MY 2013-14.

The Philippines government plans to import 1 million tons of rice during harvest of the second crop (JanuaryApril), but some rice farmers are concerned that doing so may negatively affect domestic farmers’ income and lead to lower production and higher imports.

South Korea purchased 14,614 tons of rice from Thailand for $458.45 per ton CIF in a tender that closed March 13.

Ghana is trying to reduce its dependency on imported rice by increasing production and processing domestically, according to the Office of the President.

Six stress-tolerant rice varieties have been chosen by a group of scientists to be released under the Advanced Rice in Africa (ARICA) label in efforts to increase yields by 40% in Ghana, Senegal, Guinea, and Mali.

Rice prices in Colombia increased slightly from February to March, averaging 1.88 million pesos per ton as of March 18. This is up slightly from 1.87 million pesos per ton in February, but down about 2% from prices a year ago.

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Egypt says it will accept offers to buy imported rice for its food subsidy program, which will make the more expensive medium-grain rice available for exporting.

Bangladesh rice production for the Aus (planted March-June) and Aman (planted May-October) crops in FY 2013-14 (July-June) are predicted to reach 15.35 million tons, an increase of about 2% from FY 2012-13, according to the Bangladesh Bureau of Statistics (BBS). The country plans to procure one million tons of boro rice (planted January – February) in FY 2014-15, an increase of about 12% from last year’s targeted procurement.

Tags: Oryza White Rice Index (WRI)

Oryza Rice Currency Analysis for Today – India Rupee Up 0.7% Mar 21, 2014

U.S. dollar index was down -0.13% from the open today, when it traded at 80.091 at the close.

Euro was stronger +0.15% by the close, trading around 1.3800 by end of day, after trading between an intraday high of 1.3811 and low of 1.3766.

Thai baht was stronger +0.02%, trading at 32.379 at the close of business.

Indian rupee was stronger +0.67%, closing at 60.9250.

Brazilian real was +0.18% stronger at the close of trading today, trading at 2.3236 reais per dollar.

Pakistan rupee was +0.07% stronger at 98.1140.

Vietnamese dong was unchanged at 21098.

Mexican peso was stronger +0.38% today, when it traded at 13.2100 pesos per dollar by the close of business.

Chinese yuan was stronger +0.04%, trading at 6.2258.

Argentine peso was weaker -0.13% at 7.9739 pesos per dollar.

Tags: foreign exchange rates

Oryza U.S. Rough Rice Recap - Market Takes Slightly Weaker Tone after Missing Out on another Iraqi Tender

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Mar 21, 2014

The U.S. cash market was slightly weaker today after the Iraqi Grain Board decided to pass up on the US origin offer for their latest tender, choosing instead to buy 60,000 tons from Argentina and 30,000 tons from Uruguay.

Many analysts were surprised that the US was overlooked and believed that this was the best chance the U.S. had on getting this business in some time considering their offer was only $1.25 per ton greater than the offers that were awarded.

As of today, old crop offers could still be found around $15.55-$16.11 fob farm (about $343-$355 per ton) for nearby shipment.

Bids from larger mills decreased slightly today to around $15.15 per cwt (about $334 per ton) for March-April delivery while bids for exporters were unchanged around $15.55 per cwt (about $343 per ton), for the same delivery period, and although there are still reports of smaller mills bidding around $16.00 per cwt (about $353 per ton) for prompt delivery, no trades were reported.

In the meantime, the cost of loading out warehouse receipts is still more attractive to some buyers than the offers they are seeing from farmers in their area, and as a result, there were 13 warehouse receipts canceled overnight leaving 362 on the exchange (32,942 tons).

Tags: U.S. rice prices, U.S. rice market

Thailand Constitutional Court Nullifies February 2, 2014 Election; Political Uncertainty May Hurt Rice Production, Exports Mar 21, 2014

Thailand’s Constitutional Court has nullified the February 2, 2014 general election, a move that is likely to deepen the political turmoil in the country and adversely impact the country’s rice sector.After dissolving the parliament late last year due to protests, the caretaker prime minister, Yingluck Shinawatra, had called for early elections on February 2, 2014, hoping for a win. However, protestors did not allow polling in several constituencies and are demanding the formation of a new unelected government before fresh elections take place to nullify the influence of Yingluck Shinawatra on the electoral process.

Yingluck Shinawatra calls the demand undemocratic.Earlier, the Election Commission had said that re-elections may be held in late April, 2014, but local sources say that the fight between the PM’s red shirt supporters and anti-government groups are likely to intensify in the coming days and continue for a long time.Political uncertainty may adversely impact both rice exports and rice production in the country this year. While a peaceful re-election would have helped the new government secure rice export deals, it would have also helped farmers get their payments faster. Local sources say that farmers do not have the money to invest in the next crop due to delays in payments under the rice mortgage program that was discontinued last month.

Tags: Thailand rice mortgage program

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Pakistan Exports Over 2 Million Tons of Rice in July 2013 – February 2014; Down 3% from Previous Year

Mar 21, 2014

Pakistan has exported around 2.08 million tons of rice in the first eight months of the current fiscal year 201314 (July - June), down about 3% from around 2.14 million tons of rice exported during the same period in FY 2012-13, according to provisional data from the Pakistan Bureau of Statistics (PBS).Pakistan’s non-basmati rice exports in July 2013 – February 2014 declined to around 1.70 million tons, down about 3% from around 1.74 million tons exported during the same period in the previous year. Basmati rice exports of around 378,396 tons

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in July 2013 – February 2014 are down about 6% from around 402,612 tons exported in the same period in FY2012-13.

However, value of rice exports is up this year. Pakistan has earned about $1.47 billion from total rice exports in July 2013 – February 2014, up about 20% from around $1.18 billion (using historical exchange rates) earned during the same period in FY 2012-13. Earnings from non-basmati rice exports stood at around $1 billion in July 2013 – February 2014, up about 26% compared to around $795 million (using historical exchange rates) in the same period in FY 2012-13, while basmati rice export earnings stood at around $398.4 million, up about 3% from around $388.4 million in the previous year.Pakistan exported about 3.1 million tons of rice worth about $1.98 billion in FY 2012-13 (July - June).

Tags: Pakistan rice exports

Vietnam Agricultural Officers Call for Rice Farming Reforms to Control Prices Mar 21, 2014

Vietnam agricultural officers have urged the government to initiate rice farming reforms to have better control on prices, according to local sources.Agricultural officers say reforms are necessary to manage excessive supplies during harvests and help keep prices from falling. They suggest that the government should fix rice supply limits and focus cultivation in areas where production costs could be minimized. Officials also say that the government should lend money directly to farmers and help them control their costs and production instead of giving soft loans to businesses to stockpile rice during the harvest season.Rice prices often decline sharply in Vietnam during harvest seasons. Since the beginning of March, 2014, rice prices have declined by about 25% to about VND3,000 - VND4,000 per kilogram (around $142 - $189 per ton) due to excessive supplies and low export demand. However, production costs have increased to around VND3,800 per kilogram (around $179 per ton) this year, which suggests that farmers could face losses unless market prices improve.

The government has approved stockpiling of one million tons of rice to control prices, but experts say that the stockpiling scheme is only a temporary solution and cannot increase farmer incomes. Agricultural officers say rice farmers in Vietnam are not motivated to grow rice any more due to low returns.Earlier this year, the government said it was planning to reduce area under rice cultivation in the Mekong River Delta by about 112,000 hectares to 4 million hectares by 2020. The government has asked for recommendations from related agencies for alternate uses of the rice area.

Tags: Vietnam rice prices, Vietnam rice production

Nigeria Government Lacks Resources, Political Will to Stop Informal Rice Imports, Says USDA Post

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Mar 21, 2014

Illegal rice imports into Nigeria have increased sharply to around 3 million tons in 2013 and are likely to continue in future due to higher levies on rice imports and inaction of the government to curb rice smuggling.The Federal Government, which plans to ban rice imports by 2015, introduced a 40% levy on brown rice imports and a 110% levy on polished/milled rice imports since January 1, 2012 to discourage imports and encourage local rice production. However, this led to cross-border informal rice trade and evasion of duty payments (estimated at around $2 billion in 2013). The government soon prohibited imports through land borders, but informal rice imports via land borders of Benin Republic, Cameroon and Niger continue to take place. According to the USDA Post, nearly 90% of rice exports to Nigeria are redirected through these neighboring countries.

There are several reasons for continuation of informal rice movement into Nigeria. Locally produced rice remains expensive when compared to imported rice and other food staples due to lack of infrastructure and

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logistics. Another reason is the difference in rice prices across the border. According to the Post, a 50-kilogram bag of Indian rice, which sells for $38 (around $760 per ton) in Benin, sells for $67 (around $1,340 per ton) in Nigeria. Similarly a 50-kilogram bag of Thai rice, which sells for $45 (around $900 per ton) in Benin, sells for $78 (around $1,560 per ton) in Nigeria. The wide price gap encourages importers to ship their rice consignments to ports in Benin and Cameroon, where the import duties are much lower than those in Nigeria, and bring the rice into Nigeria through informal trade via borders.Another reason for continuation of rice imports by Nigeria is the upcoming election in 2015. Some Nigerian politicians usually donate money and rice to the poor to get votes. Moreover, diversion of attention towards electioneering campaigns is likely to result in weakened anti-smuggling enforcement at the borders. The USDA Post adds that duty waiver arrangements on rice imports for agents of the ruling political parties are also likely to be seen this year.

Tags: Nigeria rice smuggling

South Korea Purchases 42,500 Tons of Rice of Thailand, Vietnam Origins Mar 21, 2014

South Korea has purchased 42,500 tons of non-glutinous rice of Thailand and Vietnam origins in an international tender that closed on March 13, 2014, according to Reuters. Delivery is expected in June - July 2014.According to the state-run Korea Argo-Fisheries & Food Trade, the purchase includes about 22,500 tons of rice of Thailand origin and about 20,000 tons of Vietnam origin rice. Earlier this week, South Korea purchased 14,614 tons of rice of Thailand origin in the tender to purchase a total of 57,114 tons of rice.

Tags: South Korea rice tender, Thailand rice exports, Vietnam rice exports, South Korea rice imports

Asia Rice Quotes Unchanged Today Mar 21, 2014

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Asia rice sellers kept their quotes mostly unchanged today.

5% Broken Rice Thai 5% rice (of new crop) is quoted around $400 - $410 per ton, about a $10 per ton premium over Viet 5% rice shown around $390 - $400 per ton.

Indian 5% rice is quoted around $420 - $430 per ton, about a $20 per ton premium over Pak 5% rice quoted around $400 - $410 per ton.

25% Broken Rice Thai 25% rice of the old crop is quoted about $350 - $360 per ton, about a $10 per ton discount to Viet 25% rice shown around $360 - $370 per ton.

Indian 25% rice is quoted around $360 - $370 per ton, about a $5 per ton premium over Pak 25% rice quoted around $355 - $365 per ton.

Parboiled Rice Thai parboiled rice of the old crop is quoted around $405 - $415 per ton.

Indian parboiled rice is quoted around $405 - $415 per ton, about $15 per ton discount to Pak parboiled rice quoted around $420 - $430 per ton.

100% Broken Rice Thai broken rice, A1 Super, of the old crop is quoted around $305 - $315 per ton, about a $35 per ton discount to Viet broken rice shown around $340 - $350 per ton.

Indian broken sortexed rice is quoted around $300 - $310 per ton, about a $30 per ton discount to Pak broken sortexed rice quoted around $330 - $340 per ton.

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

Bangladesh Aus, Aman Rice Production Reaches 15.35 Million Tons in FY 2013-14; Up 2% from Previous Year Mar 21, 2014

Bangladesh rice production from the Aus (March - June) and Aman (May - October) crops in FY 2013-14 (July - June) is estimated at around 15.35 million tons, up about 2% from about 15 million tons produced in FY 201213, according to the Bangladesh Bureau of Statistics (BBS).BBS says that rice production from the FY 2013-14 Aman crop, which contributes about 38% of the total rice production in the country, stands at around 13 million tons, up about 1% from about 12.9 million tons in FY 2012-13. BBS says that the planting area under the Aman crop declined by about 1% to around 5.5 million hectares from 5.6 million hectares in the previous year, but the average yield has increased by about 3% from 2.29 tons per hectare to 2.36 tons per hectare.

Rice production from the FY 2013-14 Aus crop, which contributes about 7% of the country’s total production, is estimated at around 2.33 million tons, up about 8% from 2.16 million tons in FY 2012-13. According to earlier estimates, rice production from the FY 2013-14 Boro crop (January – April), which contributes to about 55% of the total Bangladesh rice production, is expected to reach around 18.9 million tons, up slightly from around 18.8 million tons in the previous year. Overall rice production in FY 2013-14 is targeted at around 34.5 million tons, up about 2% from 33.77 million tons produced in FY 2012-13, according to the Directorate

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General of Food (DGoF).Meanwhile, Bangladesh’s rice imports in FY 2013-14 have reached 374,560 tons as of March 18, 2014, of which 371,500 tons are imported by the private sector and 3,060 tons are imported by the government. Imports are higher this year despite higher yields partly because of low prices in the international markets.

Currently, the export price of Indian parboiled rice is around $410 per ton in the international market, while the wholesale price of the same quality rice is quoted at $430 per ton in Bangladesh.According to the USDA, Bangladesh’s rice production is estimated at 35.6 million tons in MY 2013-14, up about 5% from an estimated 33.8 million tons in MY 2012-13. The country is expected to import 300,000 tons of rice in 2014, up about 41% from 213,000 tons in 2013.

Tags: Bangladesh rice production

Guyana’s Burma Rice Research Station to Introduce 20 New Rice Varieties Soon Mar 21, 2014

The Burma Rice Research Station (BRRS) in Guyana will soon introduce 20 new rice varieties, including salt resistant varieties F4, F6 and F8, and high-yielding varieties that can withstand adverse climatic conditions, according to the Guyana Ministry of Agriculture.The ministry says that the rice varieties GRDB 9, 10, 11 and 12, which were introduced three years ago by BRRS, are very popular among farmers in Guyana due to high yields. BRRS has also developed various pedigree nurseries, where tests for resistance to pest and disease, tolerance to lodging and blast resistance varieties are going on.Guyana’s Agriculture Minister says that the Guyana Rice Development Board (GRDB) would work with BRRS to produce new rice varieties that can tackle climate change as it impacts negatively on the availability, stability, access and utilization of food security in the country. He stressed on the development of right varieties for climate-smart agriculture.Guyana's rice production increased by about 25% to 532,000 tons in 2013 from about 425,000 tons in 2012, according to the Agriculture Minister. However, according to the USDA, Guyana’s rice production is estimated at around 470,000 tons in MY 2013-14, against a consumption of around 130,000 tons and exports of around 345,000 tons.

Burma is a rice producing village in Guyana.

Tags: Guyana rice production

Bangladesh Government to Procure One Million Tons of Boro Rice in FY 2014-15 Mar 21, 2014

The Bangladesh government is planning to procure one million tons of boro milled rice (which is harvested in May) and 150,000 tons of boro paddy rice in FY 2014-15 (July - June), up about 12% from last year’s targeted procurement of 900,000 tons of rice.According to local sources, boro rice procurement will take place during May - August, 2014, and the government will buy rice from millers and paddy directly from farmers. Millers will be paid Tk 31 per kilogram (around $391 per ton) for rice, which is up about 7% from Tk 29 per kilogram (around $366 per ton) in FY 2013-14, while farmers will get Tk 20 per kilogram (around $252 per ton) of paddy, which is up about 8% from last year's Tk 18.50 per kilogram (around $233 per ton). Government sources

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say the procurement prices have been fixed based on current production costs of Tk 17.50 per kilogram (around $221 per ton) for paddy and Tk 26.50 per kilogram (around $334 per ton) for milled rice.Last year, the government boro rice procurement stood at around 831,166 tons, down about 8% from the targeted 900,000 tons mainly due to low prices offered by the government.The total production from the FY 2013-14 boro crop (January – April), which contributes to about 55% of the total Bangladesh rice production, is estimated at 18.9 million tons compared to 18.8 million tons in FY 2012-13. The government has procured 323,685 tons of aman rice (which is harvested in November - December) as of March 18, 2014. It targets to procure 400,000 tons of Aman rice before March 31, 2014, according to the Food Ministry. The government rice stocks stood at 812,220 tons as of March 6, 2014.

Tags: Bangladesh rice procurement

Oryza Global Rice Quotes March 21st, 2014 Long grain white rice - high quality Thailand 100% B grade 415-425 Vietnam 5% broken 390-400 ↔ India 5% broken 420-430 ↔ Pakistan 5% broken 400-410 ↔ Cambodia 5% broken 450-460 ↔ U.S. 4% broken 580-590 ↔ Uruguay 5% broken 620-630 ↔ Argentina 5% broken 615-625 ↔ Long grain white rice - low quality Thailand 25% broken 350-360 ↔ Vietnam 25% broken 360-370 ↔ Pakistan 25% broken 355-365 ↔ Cambodia 25% broken 420-430 India 25% broken 360-370 ↔ U.S. 15% broken 555-565 ↔

↔

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Long grain parboiled rice Thailand parboiled 100% stxd 405-415 Pakistan parboiled 5% broken stxd 420-430 India parboiled 5% broken stxd 405-415 U.S. parboiled 4% broken 660-670 ↔ Brazil parboiled 5% broken 590-600 ↔

↔ ↔ ↔

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Uruguay parboiled 5% broken

NQ

Long grain fragrant rice Thailand Hommali 92% 945-955 Vietnam Jasmine 495-505 ↔ India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 885-895 ↔ Brokens Thailand A1 Super 305-315 ↔ Vietnam 100% broken 340-350 Pakistan 100% broken stxd 330-340 Cambodia A1 Super 350-360 ↔ India 100% Broken stxd 300-310 Egypt medium grain brokens NQ ↔ U.S. pet food 470-480 ↔ Brazil half grain 345-355 ↔ Medium grain milled U.S. Calrose 4% broken Egypt medium grain 6%

1120-1130 NQ ↔

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

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