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30th April , 2014

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Oryza U.S. Rough Rice Recap - Muted Market as Sellers Wait for Better Prices Can 'White Gold' Replace 'Black Gold' in Sudan Export Sector? Oryza Rice Currency Analysis for Today – Currencies Little Changed Oryza Afternoon Recap - Chicago Rough Rice Futures Rally Ahead of First Notice Day; All Grains Finish Higher World Watches El Niño Impact on Rice Prices, Trade Flows India Average Wholesale Rice Prices Increase in April 2014, Up 22% from Last Year Rural Development Authority of South Korea and IRRI Sign New Rice Research Agreement for Next Two Years Oryza Overnight Recap - Chicago Rough Rice Futures Little Changed as Traders Anticipate Start of May Delivery Period Tanzania Agriculture Groups Press Government for 25% Import Duty on Rice National Food Authority Notice of Award Shows Details of Philipines Tender to Buy 800,000 Tons of Vietnam Rice Vietnam Rice Sellers Increase Some Quotes; Other Asia Rice Quotes Unchanged Today

News Detail… Oryza U.S. Rough Rice Recap - Muted Market as Sellers Wait for Better Prices Apr 29, 2014

The U.S. cash market was muted today despite a slight increase in bids as sellers continue to hold out for better prices. Analysts contend most sellers are busy trying to get their crops in the ground and have very little interest shipping rice until they are finished unless the price is very attractive. As of today, a few old crop offers could be found as low as $15.55 per cwt fob farm (about $343 per ton) for nearby shipment; however, most farmers insist that it will take at least $16.11 per cwt fob farm (about $355 per ton) to get them to ship in the month of May.

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Old crop bids from larger mills increased today to around $15.30 per cwt (about $337 per ton) for May delivery while bids for exporters could be found near $15.50 per cwt (about $342 per ton), for the same delivery period, both of which generated little to no interest. Tags: U.S. rice prices; U.S. rice market

Can 'White Gold' Replace 'Black Gold' in Sudan Export Sector? Apr 29, 2014

Oil has been called 'black gold' and rice has been referred to as 'white gold';' both commodities can be lucrative ways for nations to create booming export markets and gain much needed foreign currency to spend on import needs the domestic economy may not be able to meet.Economists hope that rice will become a promising strategic export crop in Sudan to fill revenue gaps from the decline of South Sudan oil income. Their conclusions are based on rice researchers’ claims that Sudan's climate is suitable for growing rice. However, improved local technologies and practices are needed to boost rice plantation in the country.In addition, while Sudan's vast arable virgin lands, abundant water and human resources, are favorable to rice production, rice is not part of Sudanese culture; at meals, rice is treated as a side course while wheat is typically enjoyed in the main course. Sudanese farmers mostly produce wheat and are reluctant to shift to rice production. However, both economists and researchers say rice could gradually replace wheat in the Sudanese menu if supplied in abundant quantities. Recently, in 2010, an independent government agency in Japan and the local governments in Sudan have collaborated to boost rice productivity in the country. They helped rice farmers in Northern Sudan to expand rice area and also supplied them with newer varieties of rice seeds, which can grow in most Sudanese climates. Last year, Sudanese rice paddy farmers could achieve a yield of 12 tons per hectare. Now, rice farming has become popular in the northern part of Sudan due to high productivity. The government is also adopting a number of policies and strategies to promote rice production in Sudan.Sudan is a net importer of rice and imports about 70% of rice needed for domestic consumption. According to the USDA, Sudan is expected to produce around 19,000 tons and import around 45,000 tons of rice in MY 2013-14 (October - September) to meet a consumption demand of around 64,000 tons. Tags: sudan rice exports, sudan rice imports, africa rice production

Oryza Rice Currency Analysis for Today – Currencies Little Changed

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Apr 29, 2014

U.S. dollar index was up +0.16% from the open today, when it traded at 79.808 at the close. Euro was weaker -0.29% by the close, trading around 1.3812 by end of day, after trading between an intraday high of 1.3879 and low of 1.3806. Thai baht was stronger +0.02%, trading at 32.250 at the close of business. Indian rupee was stronger +0.37% at 60.4250. Brazilian real was weaker -0.36% at the close of trading today, trading at 2.2313 reais per dollar. Pakistan rupee was -0.33% weaker at 98.4500. Vietnamese dong was stronger +0.05% at 21083. Mexican peso was stronger +0.20% today, when it traded at 13.0965 pesos per dollar by the close of business. Chinese yuan was -0.08% weaker, trading at 6.2578. Argentine peso was stronger +0.01% at 8.0012 pesos per dollar. Tags: foreign exchange rates, ric currencies, Global rice trade

Oryza Afternoon Recap - Chicago Rough Rice Futures Rally Ahead of First Notice Day; All Grains Finish Higher Apr 29, 2014

Chicago rough rice futures for Jul delivery settled 17 cents per cwt (about $4 per ton) higher at $15.540 per cwt (about $343 per ton). The other grains finished the day sharply higher; soybeans closed about 1.2% higher at $15.1725 per bushel; wheat finished about 1.1% higher at $7.1650 per bushel, and corn finished the day about 1.5% higher at $5.2150 per bushel.U.S. stocks were off their best levels but still firmly in positive territory Tuesday, as investors weighed a round of better-than-expected quarterly earnings from companies. Of the 273 companies, or 55% of the S&P 500, that have reported first-quarter earnings, 68.1% have topped earnings estimates, 9.5% came in line and 22.3% missed, according to Thomson Reuters. Stocks moved to session highs in early afternoon trading.

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The S&P 500 has held in a range much of the day, though the Dow temporarily saw triple digit gains. Tuesday's economic reports had a measure of consumer confidence coming in just below expectations in April, while separate data had the price of a single-family home rising in February, slightly beating expectations, according to a closely watched survey. After a 110-point rise, the Dow Jones Industrial Average was lately up 103.61 points, or 0.6%, at 16,552.35. Less than 1% from its record closing high hit on April 2, the S&P 500 rose 10.45 points, or 0.6%, to 1,879.88, with energy and materials pacing sector gains and utilities and consumer staples the laggards among its 10 major industry groups. After a brief dip into negative terrain, the Nasdaq added 34.46 points, or 0.9%, to 4,108.89. The Nasdaq is on track for a 1.1% monthly loss following a sell-off in technology and biotech stocks on worries their lofty climb had outpaced fundamentals. Gold is trading about 0.3% lower, crude oil is seen trading about 0.3% higher, and the U.S. dollar is seen trading about 0.2% higher at about 1:00pm Chicago time.Monday, there were 1,170 contracts traded, up from 714 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 188 contracts to 8,076. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures

World Watches El Niño Impact on Rice Prices, Trade Flows Apr 29, 2014

Lower rainfall in most of the South Asian countries like India due to El Niño weather pattern is likely to increase demand for Thai rice, according to a recent article by the Wall Street Journal. Clearly, the world is watching Asia’s rice supplies and prices. Years of bumper crops in Asia, accumulating rice stocks, cheaper ocean freight, and dampened prices have also changed the global trade flows with more Asian rice making it to the Americas, a trade flow that was previously out of the question due to poor economics and phytosanitary concerns. While the phyotsanitary concerns are still there, the economics of the trade has made it very appealing, for now. However analysts are predicting rice production in India could be affected due to a bad monsoon, occurring because of the El Niño weather pattern, during the June - September period. Rice is an important summer crop in India and is highly dependent on monsoons. India’s main rice crop is planted in June and July and accounts for over 90% of total rice production of around 105 million tons. A weak monsoon this year could delay plantings and affect yield significantly.According to the Indian Meteorological Department (IMD) forecasts, the southwest monsoon in India is likely to be at "below normal" levels and may also drop to 'deficient" levels based on past El Niño incidences. Several other weather agencies also warned that rainfall in India may be lower than the normal levels.Over the last two years rice export prices in Asia have been plunging because of competitive prices offered by India and Vietnam. However, this year, with the possibility of an El Niño weather pattern, analysts expect rice supplies in Asia to decline pushing up

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the rice export prices. An increase in prices would be an advantage to Thailand, which has been struggling to sell its huge rice stockpiles. Analysts say Thailand still has around 10 million tons of rice stocks in its warehouses. The Honorary President of the Thai Rice Exporters Association (TREA) expects Thailand to export 8.5 million tons in 2014.The Thailand government has accumulated huge stocks of rice from the rice pledging program which was introduced in October 2011 and ended in February 2014. During 2011 and 2012, India and Vietnam took advantage of Thailand's rice pledging program and increased their rice exports significantly. India surpassed Thailand as the world's top exporter in 2012 and 2013. However, some analysts say India may not retain top exporter status in 2014 due to a likely lower production.The USDA estimates India's milled rice production at 105 million tons in MY 2013-14 (October - September) and at 104 million tons in MY 2014-15. It adds that a poor monsoon in 2014 could bring down India’s rice production by 10-12 million tons from the forecast level, an amount just higher than the nation’s annual rice export tonnage. Tags: El Niño, weather, India rice exports, Thailand rice exports, Global rice trade

India Average Wholesale Rice Prices Increase in April 2014, Up 22% from Last Year Apr 29, 2014

Average monthly wholesale rice prices in India increased to around Rs.3,002 per quintal in April 2014, up about

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6% from around Rs.2,821 per quintal in March 2014, and up about 22% from around Rs.2,582 per quintal in April 2013, according to official sources. In terms of USD per ton, wholesale rice prices in India stand at around $495 per ton (using current exchange rates) in April 2014, up about 5% from around $470 per ton (using historical exchange rates) in March 2014, and up about 4% from around $475 per ton (using historical exchange rates) in April 2013.The average wholesale rice price in January - April 2014 stands at around Rs.2,820 per quintal, up about 8% from around Rs.2,613 per quintal during the same period in 2013. However, in USD per ton terms, the average wholesale price in January - April 2014 stood at around $460 per ton (using historical exchange rates), down about 5% from around $484 per ton during the same period in 2013, partly due to weakening of the Indian rupee against the USD since the second half of 2013.Local sources say that rice prices in India are surging due to lower than expected production from the main rice crop (June – December 2013), which was affected by weather disturbances last year. India's second rice crop (November 2013 – April 2014) was also affected by unseasonal rains in early March 2014 in some parts of the country. According to the second advance estimates by the Directorate of Economics and Statistics under the Ministry of Agriculture, rice production in the current marketing year 2013-14 (July 2013 - June 2014) is projected at around 106.2 million tons, up about 1% from around 105.2 million tons in the previous year. However, El Nino could impact the upcoming main rice crop and potentially send prices much higher. Tags: India rice production, India rice prices

Rural Development Authority of South Korea and IRRI Sign New Rice Research Agreement for Next Two Years Apr 29, 2014

Rural Development Authority (RDA) of the Republic of Korea (South Korea) and the Philippines-based International Rice Research Institute (IRRI) have signed a new rice research agreement for the years 2014-2015, according to a press release by the IRRI.The new agreement highlights the 2014-2015 RDA-IRRI collaborative plan as well as priority areas of research. IRRI and RDA will work together in the development of abiotic stresses and disease tolerance in temperate japonica, as well as in the development of rice cultivars with tolerance to high temperature.The RDA and the IRRI have just completed the collaborative plan for the years 2012-2013, “supporting other national agricultural research systems in Asia and Africa.” Tags: Rice research, Rural Development Authority (RDA), International Rice Research Institute (IRRI)

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Oryza Overnight Recap - Chicago Rough Rice Futures Little Changed as Traders Anticipate Start of May Delivery Period Apr 29, 2014

Chicago rough rice futures for Jul delivery are currently paused 1.5 cents per cwt (about $0.33 per ton) lower overnight at $15.355 per cwt (about $338 per ton) as of 8:00am Chicago time. The other grains are seen mixed this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.1% higher, wheat was paused about 0.2% lower, and corn is noted about 0.8% higher. U.S. stock index futures pointed to a higher open on Tuesday, ahead of first quarter-earnings from around 40 S&P 500 companies, including Twitter and eBay. Stock gains may be limited on Tuesday by market concerns regarding Ukraine. The U.S. and Europe slapped more sanctions on Russia on Monday, including visa bans on those close to Russia's President Vladimir Putin. Economic data due out on Tuesday include the Case-Shiller home prices report for February and the Conference Board's consumer confidence reading for April. Meanwhile, the monthly Federal Open Market Committee policy meeting will start on Tuesday. At the subsequent press conference on Wednesday, traders will listen for any hints as to when interest rates could rise. U.S. stock index futures are currently trading about 0.3% higher, gold is currently trading about 0.3% lower, crude oil is seen trading about 0.4% higher, and the U.S. dollar is currently trading about 0.2% higher at 8:00am Chicago time. Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures

Tanzania Agriculture Groups Press Government for 25% Import Duty on Rice Apr 29, 2014

Agriculture groups in Tanzania are criticizing the government for exempting rice from imports duties since last year ; they are urging the government to impose a 25% duty on rice imports to protect farmers in Tanzania, according to local sources.The government's decision to exempt around 60,000 tons of rice from the Common External Tariff of the East African Community (EAC) as of May 2013 has affected several rice farmers, say agriculture groups. They say the decision had led to decline in the wholesale rice prices in the country by about 54% over the last one year. Data from the UN’s Food and Agricultural Organization (FAO) shows that wholesale rice prices in Tanzania has declined by nearly 30% from around Sh2,245 per kilogram ($1,337 per ton) in January 2013 to around Sh1,575 per kilogram ($938 per ton) in March 2014.

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Tanzania is almost self-sufficient in rice, and has not been importing rice since 2008. The Tanzanian government temporarily allowed importation of about 60,000 tons of rice in March 2013 in order to help lower rice prices and dampen food inflation concerns, according to the Agriculture Food Security and Cooperatives Minister. Of late, the government of Tanzania has been striving to increase rice production in the country by encouraging public-private partnerships between small-scale rice farmers and large-scale foreign investors who can provide capital, technology, and modern crop management practices, to increase quality and quantity of rice production in the country. According to the USDA, Tanzania’s rice production in MY 2013-14 (May – April) is expected to reach around 1.2 million tons (basis milled) against consumption needs of around 1.39 million tons. The country’s rice imports in MY 2013-14 are estimated at around 200,000 tons, while exports are estimated at about 30,000 tons.Tanzania’s economy is heavily dependent upon agriculture, with it making up about a quarter of the nation’s GDP and accounts for about 80% of employment. However, the sector falls short of potential since about 12% of the nation’s land is arable but less than 2% is planted with permanent crops. Rice is the dominant crop with cassava, rice, millet, sorghum and coffee also grown.

Tags: Tanzania Agriculture, Tanzania farmers, Tanzania rice imports, Tanzania rice

National Food Authority Notice of Award Shows Details of Philipines Tender to Buy 800,000 Tons of Vietnam Rice Apr 29, 2014

The National Food Authority (NFA) of the Philippines has awarded contracts to supply 800,000 tons of 15% broken well-milled white rice to two Vietnam's state-owned companies, Vietnam Northern Food Corporation (VINAFOOD I) and Vietnam Southern Food Corporation (VINAFOOD II), according to a press release by the NFA on 23 April 2014.While VINAFOOD I will supply 200,000 tons of rice in two lots of 100,000 each at $436 per ton and $439 per ton respectively. VINAFOOD II will supply 600,000 tons of rice in three lots of 200,000 each at $436.5 per ton, $437.75 per ton and $439.25 per ton respectively.According to the NFA press release, VINAFOOD II will supply 150,000 tons of rice each month from May to August 2014(50,000 tons of rice from each 200,000 tons lot), and VINAFOOD I will supply 50,000 tons of rice each month from May to August (25,000 tons of rice from each 100,000 tons lot). Thus both the state-owned companies of Vietnam would together supply 200,000 tons of rice in each month in May - August 2014.

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The press release also requires the companies to formally enter into a contract with the NFA before beginning to ship the stipulated amount of rice.The contract to supply 800,000 tons of rice to the Philippines is expected to provide support to falling prices in Vietnam, which has been of late struggling with declining export demand and falling domestic prices. Vietnam exported about 1.57 million tons of rice in January 1 - April 24, 2014 period, down about 27% from about 2.15 million tons exported during the same period in 2013. Tags: Philippines rice imports, Vietnam rice exports, asia rice trade

Vietnam Rice Sellers Increase Some Quotes; Other Asia Rice Quotes Unchanged Today Apr 29, 2014

Vietnam rice sellers increased their quotes for Jasmine rice by about $5 per ton to about $510 - $520 per ton. Other Asia rice sellers kept their quotes mostly unchanged. 5% Broken Rice Thai 5% rice (of new crop) is quoted around $370 - $380 per ton, about $15 per ton discount to Viet 5% rice shown around $385 - $395 per ton. Indian 5% rice is quoted around $415 - $425 per ton, about a $5 per ton premium over Pak 5% rice quoted around $410 - $420 per ton 25% Broken Rice Thai 25% rice of the old crop is quoted about $340 - $350 per ton, about a $15 per ton discount to Viet 25% rice shown around $355 - $365 per ton. Indian 25% rice is quoted around $370 - $380 per ton, about a $5 per ton premium over Pak 25% rice quoted around $365 - $375 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $410 - $420 per ton. Indian parboiled rice is quoted around $395 - $405 per ton, about $40 per ton discount to Pak parboiled rice quoted around $435 - $445 per ton. 100% Broken Rice Thai broken rice, A1 Super, of the old crop is quoted around $300 - $310 per ton, about a $35 per ton discount to Viet broken rice shown around $335 - $345 per ton. Indian broken sortexed rice is quoted around $295 - $305 per ton, about a $30 per ton discount to Pak broken sortexed rice quoted around $325 - $335 per ton. Tags: asian rice quotes, Asia rice quotes, asia rice trade

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Oryza Global Rice Quotes April 29th, 2014 Long grain white rice - high quality Thailand 100% B grade 385-395 ↔ Vietnam 5% broken 385-395 ↔ India 5% broken 415-425 ↔ Pakistan 5% broken 410-420 ↔ Cambodia 5% broken 435-445 ↔ 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 340-350 ↔ Vietnam 25% broken 355-365 ↔ Pakistan 25% broken 370-380 ↔ Cambodia 25% broken 410-420 ↔ India 25% broken 370-380 ↔ U.S. 15% broken 555-565 ↔ Long grain parboiled rice Thailand parboiled 100% stxd 410-420 ↔ Pakistan parboiled 5% broken stxd 435-445 India parboiled 5% broken stxd 395-405 ↔ 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% 935-945 ↔ Vietnam Jasmine 510-520 ↑ India basmati 2% broken 1515 -1525 ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 870-880 ↔ Brokens Thailand A1 Super 300-310 ↔ Vietnam 100% broken 335-345 ↔ Pakistan 100% broken stxd 325-335 ↔ Cambodia A1 Super 350-360 ↔ India 100% Broken stxd 295-305 ↔ 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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30th april,2014 daily exclusive oryza news by riceplus magazine