ORYZA on 1st October,2013 IGC Raises China 2014 Rice Import Forecast by 10% Sep 30, 2013 The International Grains Council (IGC) has increased its forecast for China’s 2014 rice imports to around 2.2 million tons, up about 10% from previous forecast of around 2 million tons, but down about 4% from an estimated 2.3 million tons of rice imports in 2013. However, the IGC adds that there remains an uncertainty over rice imports by China next year and purchases may fluctuate based on international rice prices. According to IGC, most of the rice imports in 2014 by China will comprise competitively-priced broken grades rice sourced mostly from Vietnam and Pakistan. However, China could also source significant quantities of rice from Thailand because prices of Thai rice are going down and the Thai government is keen to release rice from its older intervention reserves, IGC says. The IGC also increased world rice trade forecast by around 500,000 tons to about 37.7 million tons in 2014 based on small demand increases in sub-Saharan Africa and Far East Asia. Tags: International Grains Council, China rice imports
Oryza U.S. Rough Rice Recap – Very Little Trading to Report as Buyers Drop Bids and Sellers Hold Firm; Harvest Now 58% Complete
Print Sep 30, 2013 The U.S. cash market was silent as bids dropped with the futures market while sellers remain firm as many expect higher prices after the harvest is complete. •
Offers could still be seen 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, while bids from most mills and exporters decreased to around $14.75 per cwt (about $325 per ton) and $15.10 per cwt (about $333 per ton), respectively, for October through December delivery. Some smaller mills are still reported to be bidding as much as $15.56 per cwt fob farm (about $347 per ton) however that is still not receiving much interest at this time. In the meantime, the USDA estimated that as of September 29th, 58% of the U.S. rice crop has been harvested, compared to 45% last week and 75% this week last year. As of now, 57% of the crop has been cut in Arkansas compared to 30% California, 99% Louisiana, 42% in Mississippi, 37% in Missouri, and 100% in Texas. So far, the USDA considers 29% of the US crop in very poor to fair condition which was