31st october,2013 daily rice e newsletter(oryza news) by riceplus magazine

31st October , 2013

TOP Contents - Tailored for YOU Latest News Headlines…

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 Sierra Leone Rice Sector Under Threat From Growing Rice Imports  South Korea Purchases 6,700 Tons of Thailand Rice in Tenders  Rice Prices Soar in India  Oryza Quick Glance at World News  Thailand Rice Exports Expected to Surge in October – December 2013  Thailand Rice Sellers Increase Some of Their Quotes; Vietnam, India Rice Sellers Lower Some of Their Quotes  Ghana Rice Traders Upset With Ban on Land Rice Imports  Oryza Rice Currency Analysis for Today – Currencies Little Changed  Oryza Afternoon Recap – Chicago Rough Rice Futures Tumble as November/January Spread Collapses; Soy Continues Higher while Corn and Wheat Give back Some of Yesterday’s Gains  Oryza U.S. Rough Rice Recap – Market Fairly Quiet as Weather System Threatens Uncut Rice Rice Production Machine Could Revolutionize Africa Industry Oryza Global Rice Quotes

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NEWS DETAILS: Sierra Leone Rice Sector Under Threat From Growing Rice Imports

Oct 30, 2013

Rice is a staple in Sierra Leone and growing rice imports is a matter of concern for the government there.

According to the USDA, Sierra Leone was mostly self-sufficient in rice in the mid-1990s and imported around 70,000 tons during the food crisis of 2008-09. However, rice imports have surged to an estimated 220,000 tons

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in 2012-13 and are expected to grow by around 47% to around 325,000 tons in 2013-14.The USDA says that rice imports are growing due to increasing consumption of rice (estimated at over 1 million tons in 2013-14) against a production of around 675,000 tons. USDA data shows that rice consumption stood below 800,000 tons during 2008-09 to 2010-11. However, consumption increased sharply in 2011-12 to around 1 million tons, up around 31% from about 763,000 tons in the previous year.However, official sources say that the country is still self-sufficient in rice and the sudden and sharp increase in rice consumption and imports seen in recent years is mainly due to lower prices of imported rice and smuggling of rice into neighboring countries.

According to Sierra Leone Produce Marketing Company (SLPMC), locally grown rice is sold at around $735 $800 per ton, compared to imported rice prices of around $460 - $535 per ton.Low prices of imported rice is mainly due to import subsidies (of up to $9 million per year) introduced by the government during the global food crisis of 2008-09. According to SLPMC Managing Director Henry Yamba Kamara, another reason is the poor quality of imported rice. He says, “Majority of the rice that is imported is of low quality between 75 – 100 % broken which is very cheap in the open market. ” Moreover, minimal subsidies for farmers in Sierra Leone and small farm holding size make locally grown rice expensive.SLPMC is procuring rice from farmers and selling it in supermarkets in branded packets to popularize locally grown rice. It claims that the move has increased consumer interest significantly. However, SLPMC can buy only up to 25,000 tons of milled rice per year with a projected budget of $18.5 million at the current market value of $735 per ton. SLPMC says that government interventions and making it mandatory for government institutions to use locally grown rice will help the local rice industry.

Tags: Sierra Leone rice sector

South Korea Purchases 6,700 Tons of Thailand Rice in Tenders Oct 30, 2013

South Korea has purchased 6,700 tons of brown long-grain rice of Thailand origin for around $439.99 per ton in a tender that closed on October 22, 2013. The delivery is expected to take place by January 31, 2014, according to the state-run Korea Agro-Fisheries & Food Trade Corp.

Tags: South Korea rice tenders

Rice Prices Soar in India Oct 30, 2013

Average wholesale rice prices in India have surged to around Rs.2,753 per quintal as of October 30, 2013, up about 2% from around Rs. 2,691per quintal in the previous month, and up about 14% from around Rs.2,408 per quintal seen a year ago in October 2012. Current average wholesale rice prices in India are the second highest

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since at least January 2011, just below the peak of Rs.2,783 per quintal reached in January 2013.In terms of USD per ton, average wholesale rice prices in India stand at about $451 per ton (using current exchange rates) as of October 30, 2013, up about 4% from around $434 per ton (using historical exchange rates) in September 2013, and up about 1% from around $447 per ton (using historical exchange rates) seen in October 2012.Harvest of the main crop was hampered in several parts of India this month due to cyclones and heavy rainfall. Local traders say that rice prices are likely to remain high for another two-three months.

Tags: India rice prices

Oryza Quick Glance at World News Oct 30, 2013

Financial Times – *Google is seeking to co-opt an army of hundreds of millions of Android Smartphone users in its latest attempt to draw people away from Facebook and on to its Google Plus social network. *Italy’s economic downturn extended into the third quarter, the head of the official statistics office said on Tuesday, dashing Treasury forecasts that the longest postwar recession was bottoming out. Italy’s Finance Minister lowered his 2013 GDP forecast to minus 1.8%, but raised his estimate for 2014 to growth of 1.1% from a previous 1.0%. The Bank of Italy forecasts growth next year of 0.7%. *The Standard & Poor’s/Case-Shiller index, which tracks property values in 20 metropolitan regions across the U.S., rose 12.8% in August from the same month in 2012 – the fastest since February 2006. This beat analysts’ expectations of a 12.4% rise and followed a 12.3% jump in the year to July. *The U.S. National Security Agency launched a political fight back on Tuesday against criticism of its electronic eavesdropping, claiming that controversial data about European phone calls had not been collected by the U.S. but had been handed over by European intelligence agencies. *Barclays faces a demand to pay as much as $700 million to a U.S. hedge fund after losing a crucial appeal in a five-year legal battle that revives questions over the bank’s strategy during the financial crisis. *Israel freed 26 Palestinian prisoners early on Wednesday, the second of four batches to be released as part of a deal that set in motion the current Israeli-Palestinian peace talks.

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*China Construction Bank is poised to pull the trigger on its first international banking deal with Brazil’s BicBanco, a São Paulo-based lender with a market value of R$1.7 billion ($780 million), according to people close to the situation. *Goldman Sachs has eased the working conditions of its junior investment banking staff by discouraging them from working weekends, highlighting how investment banks are changing their culture to retain young workers.

Wall Street Journal*Turkey's Prime Minister Recep Tayyip Erdogan opened a tunnel under the Bosporus Strait on Tuesday that has been a dream of Turkish rulers since an Ottoman sultan first proposed linking the European and Asian shores of this bustling metropolis in 1860. *The Syrian regime fired a senior official, Qadri Jamil, who is a deputy prime minister for economic affairs, on Tuesday shortly after he disclosed that he met with a U.S. envoy for talks to prepare a proposed peace conference. *Peruvian Prime Minister Juan Jiménez resigned Tuesday following a sharp decline in support for the government in recent months amid growing unease about security in the Andean nation. *Russia's natural-gas export monopoly OAO Gazprom on Tuesday demanded that Ukraine settle an overdue bill of almost $900 million, raising the prospect of a repeat of the supply problems that have disrupted winter deliveries to Europe twice in recent years. *The widely tracked Nasdaq Composite Index froze for nearly an hour Tuesday after Nasdaq OMX Group Inc. experienced problems transmitting data for stock-market indexes, the latest in a series of technical problems besetting Nasdaq. *State-owned natural gas processing and distribution company GAIL India Ltd. is in talks with Ophir Energy for a stake in its offshore gas assets in Tanzania, two people with direct knowledge of the matter said Tuesday, as India steps up its efforts to secure energy supplies to meet surging domestic demand. *Vodafone Group said Tuesday that it has sought approval from Indian authorities to take full ownership of its local unit in a transaction valued at 101.41 billion rupees ($1.65 billion), as the British group looks to expand operations in one of its few growth markets.

New York Times*As Prime Minister Nuri Kamal al-Maliki of Iraq headed to Washington on Tuesday, an influential group of senators sent a strongly worded letter to President Obama warning that Mr. Maliki’s “mismanagement” of Iraqi politics had contributed to the surge of violence there. The letter, signed by ranking Democratic as well as Republican lawmakers, sought to put Mr. Maliki on notice that continued American support for Iraq would depend heavily on his willingness to share power with his nation’s Sunni and Kurdish minorities. *A former foreign minister of Greece revealed Tuesday that his country’s intelligence services had eavesdropped on the phone conversations of American ambassadors to Greece and Turkey in the 1990s. *Israel announced plans on Wednesday to build hundreds of new settlement homes on land that the Palestinians want for a future state, hours after it released a group of Palestinian prisoners from its jails. *China Mobile has put an advert for the faster 4G mobile network on its website, raising expectations that a long-awaited distribution deal between the world's largest mobile carrier and Apple Inc may be announced as early as next week. *Japan’s industrial output rose 1.5% in September, less than a median market forecast of a 1.8% increase but bouncing back from a 0.9% decline in August, data from the Ministry of Economy, Trade and Industry showed on Wednesday.

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*The Federal Reserve is expected to maintain its massive bond-buying campaign when it concludes a two-day meeting on Wednesday and may point to softer readings on the U.S. economy to signal that the policy will be extended into 2014.

Tags: World news

Thailand Rice Exports Expected to Surge in October – December 2013 Oct 30, 2013

Thailand’s rice exports are expected to increase sharply in the last quarter of 2013 mainly due to lower prices, according to local sources.Recently, trade sources predicted that Thai rice export prices will hit the rock bottom in November.

Today, the Thai Rice Exporters Association (TREA) said rice exports in September of around 501,600 tons was down about 4% from the previous month but about 27.2% higher compared to the same period last year.

According to TREA, rice exports are expected to increase to around 600,000 tons in October 2013 as prices have become more competitive, declining to the lowest in three years.However, an upturn in exports is unlikely to help meet the government target of around 8 – 8.5 million tons per year. According to TREA, Thailand’s rice exports during January – September 2013 stand at around 4.6 million tons, down about 2% from the same period last year. In 2012, Thailand exported around 7 million tons, down about 35% from around 10.6 million tons exported in the previous year.

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Thailand Rice Sellers Increase Some of Their Quotes; Vietnam, India Rice Sellers Lower Some of Their Quotes Oct 30, 2013

Thailand rice sellers increased their quotes for parboiled rice by about $5 per ton to about $440 - $450 per ton today. Vietnam rice sellers lowered their quotes for 100% broken rice by about $5 per ton to about $340 - $350 per ton. Indian rice sellers lowered their for 5% broken rice, 25% broken rice and parboiled rice by about $5 per ton each to about $410 - $420 per ton, $365- $375 per ton and $385 - $395 per ton respectively. Pakistan rice sellers kept their quotes unchanged today.

5% Broken Rice Thai 5% rice is quoted around $405 - $415 per ton, about a $15 per ton premium over Viet 5% rice shown around $390 - $400 per ton.

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Indian 5% rice is quoted around $410 - $420 per ton, down about $5 per ton from yesterday and about a $40 per ton premium over Pak 5% rice quoted around $370 - $380 per ton.

25% Broken Rice Thai 25% rice is quoted about $390 - $400 per ton, about a $30 per ton premium over Viet 25% rice shown around $360 - $370 per ton.

Indian 25% rice is quoted about $365 - $375 per ton, down about $5 per ton from yesterday and about a $30 per ton premium over Pak 25% rice quoted around $335 - $345 per ton.

Parboiled Rice Thai parboiled rice is quoted around $440 - $450 per ton, up about $5 per ton from yesterday.

Indian parboiled rice is quoted around $385 - $395 per ton, down about $5 per ton from yesterday and about a $35 per ton discount to Pak parboiled rice quoted around $420 - $430 per ton.

100% Broken Rice Thai broken rice, A1 Super, is quoted around $370 - $380 per ton, about a $30 per ton premium over Viet broken rice shown around $340 - $350 per ton, down about $5 per ton from yesterday.

Indian broken sortexed rice is quoted about $310 - $320 per ton, about a $15 per ton discount to Pak broken sortexed rice quoted around $325 - $335 per ton.

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

Ghana Rice Traders Upset With Ban on Land Rice Imports Oct 30, 2013

Local rice importers in Ghana are upset with the government decision to ban rice imports via land from November 1, 2013. According to local sources, the Ghana-Ivory Coast Rice Importers and Sellers Association (GIISA) has urged the government to reconsider its decision and called the ban dangerous and unacceptable.The Ghana government banned rice imports via land to ensure traders pay required taxes and other tariffs. However, GISA representatives say that a lot of jobs will be lost due to the decision, and the ban will result in the monopoly of a few importers and foreign businesses which will hurt consumers as well.According to local sources, rice consumption is increasing among the urban class in Ghana which prefers rice from Thailand or the U.S. due to poor quality of locally produced rice. Ghana produces about 276,000 tons of rice annually, and has a consumption of around 900,000 tons. According to the USDA, Ghana’s rice imports in 2013-14 are estimated at around 575,000 tons.

Tags: Ghana rice imports

Oryza Rice Currency Analysis for Today – Currencies Little Changed Oct 30, 2013

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U.S. dollar index was up +0.15% from the open today, when it traded at 79.723 at the close.

Euro was -0.11% lower today by the close, trading around 1.3730 by end of day, after trading between an intraday high of 1.3785 and low of 1.3696. The dollar gained today even as the Fed said bond purchases would continue.

Thai baht was weaker -0.15%, trading at 31.107 at the close of business.

Indian rupee was stronger +0.14% trading at 61.2375.

Brazilian real was -0.29% weaker than the open at today’s close, when it ended at 2.1914 reais per dollar.

Pakistan rupee was -0.30% weaker at the close, trading at 106.8775.

Vietnamese dong was unchanged at 21100.

Mexican peso was +0.16% stronger today, when it traded at 12.9000 pesos per dollar by the close of business today.

Chinese yuan was weaker -0.07% at 6.0946.

Argentine peso was -0.19% weaker at 5.9052 pesos per dollar.

Tags: foreign exchange rates

Oryza Rice Currency Analysis for Today – Currencies Little Changed Oct 30, 2013

U.S. dollar index was up +0.15% from the open today, when it traded at 79.723 at the close.

Euro was -0.11% lower today by the close, trading around 1.3730 by end of day, after trading between an intraday high of 1.3785 and low of 1.3696. The dollar gained today even as the Fed said bond purchases would continue.

Thai baht was weaker -0.15%, trading at 31.107 at the close of business.

Indian rupee was stronger +0.14% trading at 61.2375.

Brazilian real was -0.29% weaker than the open at today’s close, when it ended at 2.1914 reais per dollar.

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Pakistan rupee was -0.30% weaker at the close, trading at 106.8775.

Vietnamese dong was unchanged at 21100.

Mexican peso was +0.16% stronger today, when it traded at 12.9000 pesos per dollar by the close of business today.

Chinese yuan was weaker -0.07% at 6.0946.

Argentine peso was -0.19% weaker at 5.9052 pesos per dollar.

Tags: foreign exchange rates

Oryza Afternoon Recap – Chicago Rough Rice Futures Tumble as November/January Spread Collapses; Soy Continues Higher while Corn and Wheat Give back Some of Yesterday’s Gains Oct 30, 2013

Chicago rough rice futures for January delivery settled 17 cents per cwt (about $4 per ton) lower at $15.305 per cwt (about $337 per ton). Rough rice futures continued their back-and-forth trading pattern, falling nearly 20 cents per cwt (about $4 per ton) as support from November/January spread collapsed on the final day of trading ahead of first intentions. Despite the wild swings in prices over the past few days the market remains little changed since it began this pattern on October 22.

The other grains finished mixed, with soy maintaining its upward momentum while corn and wheat slipped; soybeans finished the day about 0.7% higher at $12.8750 per bushel; wheat finished about 0.9% lower at $6.7500 per bushel; and corn finished the day about 0.4% lower at $4.3025 per bushel.U.S. stocks maintained their losses on Wednesday, retreating after the Dow and S&P 500 set record highs, after the Federal Reserve said it would refrain from reducing its monthly bond purchases.

As expected, the central bank opted to maintain its $85-billion-a-month bond-purchasing program amid softer readings on the U.S. economy. The Fed will likely start curbing its monetary easing in April 2014, according to a survey of economists, strategists and money managers. There will be no press briefing with Chairman Ben Bernanke this month. The Dow Jones Industrial Average declined 0.2 percent after hitting an intraday high of 15,721. The S&P 500 and the Nasdaq also lost ground after the S&P 500 earlier hit an intraday record of 1,775.23. Among the S&P's 10 major sectors, telecoms led declines, while utilities fared best. U.S. stock markets are currently trading down about 0.2%, gold is trading about 0.5% higher, crude oil is seen trading about 1.3% lower, and the U.S. dollar is seen trading about 0.2% lower at about 2:00pm Chicago time.Turning to the daily continuation chart of Chicago rough rice futures for January delivery, after a strong showing yesterday the market once again came under selling pressure and dipped back into technically bearish territory.

Today’s pressure came from a collapsing spread as support for the front month contract gave way to outright

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selling as fund traders finished moving their positions forward last week and as commercials either sell last minute longs or prepare to stand for delivery.

As previously mentioned today’s action saw prices fall back below the 20-day moving average, which is noted at $15.360 per cwt (about $339 per ton). The lower Bollinger band at $14.979 per cwt (about $330 per ton) now becomes the price objective; however the bottom of the current trading range which acts as nearby support is noted at $15.250 per cwt (about $336 per ton). This point of support came into play today and will likely limit further attempts by the bears to drag prices lower. Today’s trading range is noted as $15.230-$15.330 per cwt (about $336-$338 per ton).Tuesday, there were 782 contracts traded, down from 962 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday decreased by 137 contracts to 8,796.

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

Oryza U.S. Rough Rice Recap – Market Fairly Quiet as Weather System Threatens Uncut Rice Oct 30, 2013

The U.S. cash market was fairly quiet today as many farmers were busy in their fields trying to get their remaining crop out of the ground before rains move across the U.S. mid-south tomorrow. Analysts contend that a good chunk of the remaining crop left to be cut is down and farmers are fearful that any additional rain could damage what is left to be cut.Offers remains firm around $15.56-$16.66 per fob farm (about $343-$367 per ton), depending on where they are located in the U.S. mid-South, for October through December shipment.Bids from most larger mills decreased to around $14.60 per cwt (about $321 per ton)while bids from exporters could still be found around $15.40 per cwt (about $340 per ton), both for October through December delivery, although rice was reported to have traded around $15.90 per cwt (about $351 per ton) for prompt delivery.

Tags: U.S. rice prices, rice crop, rice harvest, rice farm

Rice Production Machine Could Revolutionize Africa Industry Oct 30, 2013

The prevention of postharvest losses was a frequent topic at the Third Rice Congress held in Cameroon Oct 2124. The FAO discussed the impact of these losses on farmers, and the National Institute for Agricultural Research for Development (IRAD) presented the machine they’ve developed to mill and clean rice. It also separates broken grains, resulting in more higher-quality rice produced more efficiently.

IRAD claims that the machine could reduce postharvest losses “estimated at 125,000 tons out of 300,000 tons

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of rice produced last year.” If these losses are reduced to only 15 percent, expert Ndindeng Sali Atanga claims it will be more effective at increasing sustainability than farmers planting new varieties. The key is for farmers to be trained in the proper treatment of rice at all stages in the process. Many of the tools that are currently used to harvest rice make it difficult to keep the grains from getting scattered and broken. A faster harvest can also mean better milling yields. All of these things decrease Africa’s reliance on imported rice.

Now that the development is complete, it is the government’s job to help get the machine and information in the hands of the farmers who can benefit. Specifically, the Ministry of Agriculture and Rural Development and the Ministry of Scientific Research and Innovation must institute the framework for disseminating the machine and research results to the farmers.

Tags: Rice farming, africa rice production, Africa rice imports, rice processing, rice research and development

Oryza Global Rice Quotes October 30th, 2013

Long grain white rice - high quality Thailand 100% B grade 415-425 Vietnam 5% broken 390-400 ↔ India 5% broken 410-420 ↓ Pakistan 5% broken 370-380 ↔ Cambodia 5% broken 445-455 ↔ U.S. 4% broken 595-605 ↔ Uruguay 5% broken 615-625 ↔ Argentina 5% broken 615-625 ↔

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Long grain white rice - low quality Thailand 25% broken 390-400 ↔ Vietnam 25% broken 360-370 ↔ Pakistan 25% broken 335-345 ↔ Cambodia 25% broken 415-425 India 25% broken 365-375 ↓ U.S. 15% broken 575-585 ↔

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Long grain parboiled rice Thailand parboiled 100% stxd 440-450 Pakistan parboiled 5% broken stxd 420-430 India parboiled 5% broken stxd 385-395 U.S. parboiled 4% broken 660-670 ↔

↑ ↔ ↓

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Brazil parboiled 5% broken 590-600 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 1075-1085 ↔ Vietnam Jasmine 565-575 ↔ India basmati 2% broken 1515 -1525 ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Pkha Malis 920-930 ↔ Brokens Thailand A1 Super 370-380 ↔ Vietnam 100% broken 340-350 ↓ Pakistan 100% broken stxd 325-335 ↔ Cambodia A1 Super 380-390 ↔ India 100% Broken stxd 310-320 ↔ Egypt medium grain brokens NQ ↔ U.S. pet food 370-380 ↔ Brazil half grain 345-355 ↔ Medium grain milled U.S. Calrose 4% broken 620-630 ↔ Egypt medium grain 6% NQ ↔ All prices USD per ton, FOB vessel, oryza.com

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