Unedited Version of RICE NEWs

By Riceplus Magazine India Winter Rice Crop Planting Area Reaches 4.09 Million Hectares; Up 23.5% from Last Year

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Area under India's rabi (winter) rice crop planting stands at about 4.09 million hectares as of February 28, 2014, up about 23.5% from around 3.31

million hectares recorded during the same time last year, according to the Ministry of Agriculture.
Tags: India rice planting area

Oryza White Rice Index - Asian Rice Quotes Ready to Bounce Big Time?

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The Oryza White Rice Index, a weighted average of global white rice export quotes, ended the week at $461 per ton, unchanged from a week ago, down about $2 per ton and $33 per ton from a month and a year ago respectively. The political situation in Thailand remains very uncertain. Competing rice

export nations fear that a liquidation of Thai rice stocks will send the global rice market plunging lower. For now, Thailand rice export quotes have been stable. Perhaps theres not as much rice to be sold as some fear (due to spoiled/lost supplied under the mortgage scheme)? Thai rice traders may also still be translating their high costs to the export market. If India rice exports were to slow on account of a potential El Nino, Thai traders would likely take advantage of the opportunity to claw back some margin. After being depressed for months and only rebounding softly, Asian rice export quotes may be like a coiled spring ready to rally if any catalyst is provided. For now, U.S. rice export quotes are shown at about a $50 per ton discount to South America and Thailand rice quotes are about $150 per ton below that of the U.S. Thailand has reaffirmed itself as the most expensive origin in Asia, with a slight premium over India rice export indications and further below India, Pakistan and Vietnam quotes are at par. The Association for Southeast Asian Nations (ASEAN), which includes Myanmar,Thailand, Laos, Vietnam, and Cambodia, has finalized an agreement to form the ASEAN Rice Federation (ARF), which will focus on regional and global food security, global rice market stability, mutual assistance for technological advancement, and improving trade and the lives of rice farmers. The details will be presented in a minister-level meeting in August. Skeptics think the agreement is unlikely to have any real impact on the rice sector as the idea has been long on concept and short on execution. Thailand Thailand 5% broken rice is today quoted at about $430 per ton, unchanged from a week ago, down about $10 per ton and $120 per ton from a month and a year ago respectively. The National Anti-Corruption Commission (NACC) is investigating at least 15 cases against the caretaker Prime Minister, Yingluck, due to the rice mortgage program. The Pheu Thai partys legal team has said that it will respond to those charges within 15 days. If the PM is found guilty, she may be removed from office and banned from politics for 5 years, but local sources are skeptical the NAAC and the courts would risk such a bold move for fear of turmoil. A new study by the University of the Thai Chamber of Commerce (UTCC) claims that Thailand rice farmers have the lowest income of any farmers in ASEAN countries (which include Vietnam, Myanmar, Laos, and Cambodia). The study says that production costs in Thailand are 139% higher than in Vietnam and that the rice mortgage program doesnt seem to

have helped their situation. The UTCC also forecasts that Thailands rice exports may decline to about 6.8 million in 2014, down about 3% from the 7 million tons exported in 2013. This would make Thailand once again the third largest rice exporter in 2014. Thailands Election Commission (EC) has approved the caretaker government using 712 million baht (about $22 million) from the Central Budget to pay rice farmers who still havent received payments for their rice under the rice mortgage scheme that is ending this month. However, the amount the EC approved will only cover about 0.5% of the money the government needs (about 130 billion baht or $4 billion). India India 5% broken rice is today shown about $420 per ton, unchanged from a week ago, up about $10 per ton from a month ago and down about $30 per ton from a year ago. The monthly average wholesale price of rice in India increased month-overmonth in February, up to Rs. 2,731 per quintal, about 1% higher than in January. In USD terms, prices in February were at about $440 per ton, up about 2% from January. The Commission on Agricultural Costs and Prices (CACP) recommended the government release about 15-20 million tons of rice and wheat in to the domestic markets to try to reduce prices. Average rice prices in India decreased about 4% month-over-month in January, but the government may still decide to liquidate some stocks to bring down domestic food prices, especially if this is seen as a quick fix elections are right around the corner. The governor of the Reserve Bank of India (RBI) notes food inflation has an additional cause. He has stated that the Indian government should not increase the Minimum Support Price (MSP) of rice and other grains so quickly in order to control food inflation. MSPs are currently below FOB prices. Its clear that India needs to take action to control inflation, but which path will they take: liquidating stocks or decelerating MSP increases? The planted area under Indias rabi (winter) rice crop stands at about 4.09 million hectares as of February 28. This is about 23.5% higher than the same time last year, when only 3.31 million hectares were planted, according to the Ministry of Agriculture. The Ministry of Environment and Forests (MoEF) approved scientific field trials for almost 200 varieties of genetically modified food crops, including rice. The approval has received strong opposition.

Indias Patent Office will decide whether the central state of Madhya Pradesh should be included on the Basmati Rice GI Application. The state was originally omitted by the Agricultural and Processed Food Products Export Development Authority (APEDA), but the Madhya Pradesh government claims its basmati rice is known around the world. To further complicate matters, the Basmati Growers Association of Pakistan is also opposing the inclusion of Madhya Pradesh, claiming its negatively affecting their basmati export business. Vietnam Vietnam 5% broken rice ended the day at $400 per ton, unchanged from a week ago, down about $5 per ton from a month and a year ago. Vietnam rice exports smuggled into the Philippines continues to be at the center of an political economic debate in the Philippines. A senator in the Philippines accused the National Food Authority (NFA) of being complicit in the countrys rice smuggling problems and also continued urging an investigation of the alleged overpricing of rice imports from Vietnam in November 2013. The NFA denies any wrongdoing. The Philippines Justice Secretary has asked the government to create a new policy on rice imports, claiming the existing policy is against World Trade Organization (WTO) rules. The current policy is based on the continued imposition of quantitative restriction (QR) on imports, but the GATT-WTO agreement expired in June 2012. The World Banks lead economist for the Philippines has also urged the government to remove quantitative restrictions on rice imports, claiming the current QR system breeds corruption and high prices. Rice prices in the Philippines rose during the week ending February 21, increasing as much as 8% week-over-week in some markets. The National Food Authority (NFA) predicts that prices will decline about P2-P4 per kilogram (about $45-$90 per ton) during March-May due to ample supplies from harvest, but prices will likely drop again after that. In a completely unsurprising turn of events, David Bangayan, who is accused of being David Tan, the so-called king of rice smuggling, did not appear before the Philippines Senate committee for his scheduled hearing on Monday. Two of his colleagues who were also scheduled to appear did not show up, either. His lawyer informed the Senate that his client had medical issues and had been taken to the hospital.

Pakistan Pakistan 5% broken rice quoted at about $400 per ton today, unchanged from a week ago, up about $5 per ton from a month ago and down about $35 per ton from a year ago. Local sources report that nearly 160 out of 200 parboiling processing plants have been shut down in Pakistan in the last two years due to power shortages, and that the government is neglecting to rectify the situation. Brazil Brazil 5% broken rice today shown about $665 per ton, unchanged from a week and a month ago. The Brazilian paddy rice index maintained by CEPEA stayed at about 35.28 real per 50 kilograms on February 24, down about 1% from 35.77 real per 50 kilograms the previous week. In USD, the index dropped to about $301.7 per ton, down from $304 the previous week. U.S. U.S. 4% broken rice today shown about $580 per ton, unchanged from a week ago but down about $10 per ton and $48 per ton from a month and a year ago respectively. California which mostly produces medium grain rice - finally saw some rain, but probably not enough to have a significant impact on the drought conditions there. If this continues, we might see medium grain prices going up even more. Texas rice farmers heard from the Texas Commission on Environmental Quality (TCEQ) that an emergency cutoff of water will keep them from getting their requested water for the third year in a row. Chicago rough rice futures for May delivery reached $15.730 per cwt (about $347 per ton) Friday morning. Other Markets The Iraqi Grain Board purchased 60,000 tons from Argentina - half at $713 per ton CIF and the other half at $699 per ton CIF - and 30,000 tons from Uruguayat $713 per ton CIF.

Uruguay and Argentina 5% broken rice ended the week at $630 per ton fob, unchanged from a week and a month ago, up about $20 per ton from a year ago. For the third year in a row Argentinas rice exports dropped, reaching only 535,722 tons in 2013, about 16% less than the 63,938 tons exported in 2012. The USDA Post predicts that rice exports will increase to about 650,000 tons in 2014-15 (April-March) due to a weaker currency. Cambodia 5% broken rice is today shown about $455 per ton, unchanged from a week and a month ago. South Korea has issued tenders to purchase 57,114 tons of non-glutinous rice for delivery between June and July 2014, according to the Agro-Fisheries & Food Trade Corp. The last date for submission of applications is March 13. Ivory Coasts Agriculture Minister reports that the country will strive to be self-sufficient in rice within the next three years. To do so, he says they will nearly triple their domestic rice production from the current 520,000 tons (estimated by the USDA) to 1.9 million tons by 2016, in efforts to meet increasing domestic demand. Rice demand in Saudi Arabia is increasing and the USDA forecasts they will import 1.3 million tons this year, up 3% from 2013. India, the largest supplier of rice to Saudi Arabia, lost some of the market share last year. U.S. rice gained nearly 1.5% of the Saudi market in 2013. As of February 24, average white rice prices in Colombia were about 1.86 million pesos per ton (about $905 per ton), up about 2% from 1.82 million pesos per ton (about $886 per ton) in January but down 5% from February 2013. Nigeria is considering a decrease to the import tariff on rice. The Minister of Finance hopes that a decrease in the tariff rate might discourage smuggling via land borders and increase Nigerias revenue from rice imports. The government continues to increase domestic production and plans to ban all rice imports starting in 2015, but many industry people question the readiness of the countrys commercial production capabilities and are recommending the import ban be postponed to 2019. Producers in Italy have sold more than half of the rice paddy for 2013-14 crop year. Remaining stocks are about 694,979 tons, and there are about 7 or 8 months before the next harvest. Heavy rains and floods will likely affect Bolivias rice production in 2013-14, according to the FAO. They estimate rice production in 2013 will drop to

about 450,000 tons of paddy, about 13% less than the previous year. On February 24, Russias phytosanitary authorities lifted a ban on the importation of Pakistan rice that was instituted in late September, 2013.
Tags: Oryza White Rice Index (WRI)

China Confirms Continuation of One Million Tons Rice Import Deal with Thailand

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The Chinese government has confirmed that it will honor the Memorandum of Understanding (MoU) signed with Thailand in November 2013 to buy one million tons of rice on a G-to-G basis annually from the Thai government for the next five years. State media in Thailand said that the Chinese embassy in Thailand has confirmed the continuation of the deal which will help the government in getting funds to pay rice farmers who have participated in the government rice mortgage program. Earlier this year, reports said that China had cancelled the deal to purchase one million tons of rice from Thailand after the National Ant-Corruption Commission (NACC) in Thailand began investigations on alleged irregularities in the Thai governments rice mortgage program. Meanwhile, trade sources, citing Thailands Commerce Minister, say that China has agreed to buy 400,000 tons of rice from Thailand, and an agreement would be signed with China's state-owned enterprise COFCO in March 2014. While details of this deal are unavailable, sources say that it could a part of the deal to buy about one million tons from Thailand. However, Thailands Director General of Department of Foreign Trade says the government will need the approval of the Election Commission (EC), as the deal could be considered as an obligation for the new government.
Tags: Thailand rice exports, China rice imports

Oryza Afternoon Recap Chicago Rough Rice Futures Close Slightly Lower on the Session, but Still Up on the Week, Thanks to Mondays Massive Rally

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Feb 28, 2014

Chicago rough rice futures for May delivery settled 4.5 cents per cwt (about $1 per ton) lower at $15.635 per cwt (about $345 per ton). Rough rice futures experienced another round of back-and-forth trading today as the majority of the trade activity has now moved into the May contract and the March/May spread has settled into a -0.23 to -0.26 per cwt (about -$5 to $6 per ton) range. As expected a fresh round of receipts were registered overnight with additional expected in the coming week. Todays move was seen as a technically bearish development as prices fell and settled back below nearby support at $15.670 per cwt (about $345 per ton) provided by the 100-day moving average. The markets continues to test support from the faster moving, positively sloped, 10-day moving average and could be moving into a period of congestion between the previously two mentioned levels of technical significance. Despite the losses sustained in the second half of the week the market finished with a 10 cent per cwt (about $2 per ton) gain thanks to Mondays huge rally. The outlook for next weeks trade is currently sideways. The other grains finished higher as the market is in recovery mode following yesterdays massive selloff; soybeans closed about 1.5% higher at $14.1425 per bushel; wheat finished about 2.9% higher at $5.9900 per bushel; and corn finished the day about 2.1% higher at $4.5750 per bushel. U.S. stocks climbed on Friday, with the S&P 500 hitting an intraday record, after a final read on consumer sentiment in February came in just above expectations and existing-home sales held steady in January. Consumer sentiment rose marginally this month even as concerns about the extreme weather persisted, with the Thomson Reuters/University of Michigan's final read coming in at 81.6, just above the 81.2 in the preliminary estimate and the January reading. Another report had the economy growing at a slower rate in the last quarter of 2013 than previously estimated. Erasing initial losses, the Dow Jones Industrial Average rose as much as 125 points, and was lately up 116.59 points, or 0.7%, at 16,389.24. Advancing to an intraday record of 1,867.93, the S&P 500 was lately up 12.56 points, or 0.7%, at 1,866.85, with consumer staples leading gains that extended to all but telecommunications of its 10 major sectors. After rising to a 14-year high of 4,342.59, the Nasdaq at last check was at 4,335.33, up 16.40 points, or 0.4%. Gold is trading about 0.8% lower, crude oil is seen trading about 0.3% higher, and the U.S. dollar is seen trading about 0.6% lower at about 1:00pm Chicago time. Thursday, there were 1,337 contracts traded, up from 876 contracts traded on Wednesday. Open interest the number of contracts outstanding on Thursday increased by 85 contracts to 7,554.
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chicago rough rice futures, U.S. rice prices, U.S. rice market

India Prepares Contingency Plans for Possible Weather Disturbances During 2014 Main Rice Crop Season

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The Indian government has developed contingency plans for over 500 districts of the country to help overcome crop losses during the Kharif (June December) rice crop season in the event of weather disturbances. In the two-day National Conference on Agriculture for Kharif Campaign held this week, the Agriculture Secretary said that scientists, officials and farmers will work together and use the contingency plans as the first point of reference to check actions in case of erratic rainfall or other weather disturbances. The government says that the contingency plan contains rainfall and soil map for each district and has action points for different levels of rainfall deficiency or excess or other weather-related contingencies such as cyclone, flood and sea-water inundation. States have also been asked to stock adequate seeds of short-duration crops, ensure timely availability of fertilizers and provide sufficient credit to farmers. Other aims in the strategy for 2014 kharif rice crop season include: improving rice production in eastern states; reducing rice area in northwestern region; use of bio-fertilizers and micro-nutrients; promotion of GM crops; and strengthening of procurement machinery, particularly in eastern states. Weather departments in several countries have warned that the El Nino phenomenon cold occur this year, which could lead to poor monsoon rains in India. Indias agriculture minister said this week that the El Nino phenomenon is unlikely to significantly impact India this year, but has asked states to prepare for such an event.
Tags: India rice production, Contingency plan

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India Basmati Rice GI Application in Tangle; Patent Office to Decide Inclusion of Madhya Pradesh State

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Indias attempt to get legal protection to basmati rice brand under the Geographical Indications (GI) tag is likely to be further delayed due to conflicts between different departments in the country and opposition in Pakistan over the expansion of basmati rice growing area in India. In its original application, the Agricultural and Processed Food Products Export Development Authoritys (APEDA) did not include the central state of Madhya Pradesh as one of the basmati rice growing areas because the state does not come within the boundaries of the Indo-Gangetic plain. However, this was challenged by the Madhya Pradesh government, which claims that parts of the state come within the Indo-Gangetic plain and basmati rice from the state is known around the world. Later the GI registry asked APEDA to file an amended application including Madhya Pradesh (with a map of the region clearly demarcating the area of production). However, APEDA has now approached the Intellectual Property Appellate Board (IPAB) to decide over the inclusion of Madhya Pradesh in its Geographical Indications (GI) application. APEDA says that the rice grown in Madhya Pradesh does not have the requisite reputation and corresponding public perception, though it has characteristics of basmati grown in the IndoGangetic plain. The APEDA further states that the order could potentially attract claims from other parts of the world to recognize their rice as basmati merely on basis of equivalent standards and specifications. It also notes that the intervention of the Madhya Pradesh government would unnecessarily delay the process of getting a legal protection to basmati rice. The IPAB is scheduled to hear the APEDA's arguments on March 11, 2014. Meanwhile, the Basmati Growers Association (BGA) of Pakistan is also opposing the inclusion of Madhya Pradesh under the basmati growing region saying that India has become the largest producer and exporter of basmati rice by expanding the area beyond the traditionally basmati producing states of Kashmir, Punjab, Haryana, Himachal Pradesh, and Delhi. The BGA

President says that indiscriminate expansion of basmati production areas by India is adversely affecting the export of basmati rice from Pakistan. A GI label certifies the geographical origin of a product and confirms adherence to some production standards. It also prevents producers who aren't covered by the tag from using the same.
Tags: india basmati rice, Geographical Indications (GI)

Oryza Overnight Recap Chicago Rough Rice Futures Paused Slightly Higher After Quiet Overnight Session; Grains Attempt to Recover Following Yesterdays Selloff

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Chicago rough rice futures for May delivery are currently paused 5 cent per cwt (about $1 per ton) higher at $15.730 per cwt (about $347 per ton) as of 8:00am Chicago time. The other grains are seen higher this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.6% higher, wheat was paused about 1.7% higher, and corn is noted about 0.3% higher. U.S. stock index futures pointed to a lower open on Friday, after the government estimated the U.S. economy grew 2.4 percent in the fourthquarter of 2013, down from the 3.2 percent pace reported last month. Other data out on Friday include pending home sales for January at 10 a.m. Sales are seen gaining 1.6 percent, compared with a drop of 8.7 percent in December. In addition, there will be the Chicago PMI (purchasing managers' index) for February at 9:45 a.m. and the final reading of February's University of Michigan consumer sentiment survey at 9:55 a.m. Outside of the U.S., traders will continue to watch events in the Ukraine. Ousted President Viktor Yanukovych plans to hold a news conference in southern Russia at 8 a.m. Global shares were boosted in early trade on Friday by Thursday's testimony from Federal Reserve Chair Janet Yellen. Appearing before Senate, Yellen said the recent spate of tepid economic data could be partial attributable to the exceptionally poor weather. Her comments helped drive the S&P 500 to a record close on Thursday. U.S. stock index futures are currently trading about 0.1% lower, gold is currently trading about 0.1% lower, crude oil is seen trading about 0.3% lower, and the U.S. dollar is currently trading about 0.6% lower at 8:00am Chicago time.
Tags: chicago rough rice futures

Is Rice Pledging Scheme Throwing Thailand Government Into a Maze of Rules?

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The Thailand caretaker government is struggling to raise funds to pay farmers who had pledged their rice with the government under the pledging program. However, the governments problems are compounded due to questions on legality on everything it tries. The governments latest attempt to use the funds from the Central Budget has now invited a constitutional point. The government had in the beginning of this week sought the Election Commissions (EC) approval to use 20 billion baht (around $612.5 million) from the Central Budget to pay farmers under the rice pledging scheme. The EC is yet to give its approval to the government. However, a senior Election Commissioner says that the government's plan to use money from the Central Budget could risk breaching Section 181(4) of the charter, which prohibits use of any government resources that might affect the election outcome. The Election Commissioner says that the government should mention whether the move would boost its popularity and impact the election outcome in its application. He also says that the government's move could put burden on the new government which could be a breach of Section 181(3) of the charter. The government still owes 116 billion baht (around $3.6 billion) to about 875,900 farmers for their 6.7 million tons of pledged rice so far, according to local sources. It looks like the caretaker government is moving through a maze of rules to fulfill its promises.
Tags: Thailand rice mortgage program

World Bank Urges Philippines to Remove Quantitative Restrictions on Rice Imports to Reduce Poverty, Corruption

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The World Bank (WB) lead economist for the Philippines has urged the government to remove quantitative restrictions on rice imports to control

surging food costs and pervasive poverty in the country, according to local sources. The WB economist says the Philippines has failed to achieve self-sufficiency in rice despite having good research and development, irrigation and extension work, and marketing for rice relative to its neighbors, as the rice prices in the country are the highest in the world. The WB economist blamed the current quantitative restrictions (QR) system for fostering corruption in the country's rice policy. He says that restrictions on rice imports are creating uncertainty in the private sector and are leading to high prices. He suggests the government to remove restrictions on importation of rice and just impose tariffs to protect local farmers. He warned that if the QR policy continues, it may lead to rice inflation as rice occupies a large portion of Filipinos food basket. He called for a new policy, which would attract foreign direct investments and bring down food prices, which are the main reason for growing poverty levels in the country. However, the Philippines Socioeconomic Planning Secretary says that removing QRs and imposing tariffs may not be easy because of ongoing negotiations for extension of the QRs on rice at the World Trade Organization (WTO). He, however, said that the government is trying to protect farmers without hurting the people below poverty line. There is a debate on the Philippines decision to continue QRs on rice imports despite the expiration of preferential treatment to imports under the General Agreement on Tariff and Trade-World Trade Organization (GATT-WTO) agreement in June 2012. The Department of Justice (DoJ) has recommended removal of QRs on rice imports as it amounts to violation of international law.
Tags: World Bank, Philippines rice imports, Quantitative restrictions on rice imports

World Bank Urges Philippines to Remove Quantitative Restrictions on Rice Imports to Reduce Poverty, Corruption

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The World Bank (WB) lead economist for the Philippines has urged the government to remove quantitative restrictions on rice imports to control surging food costs and pervasive poverty in the country, according to local sources. The WB economist says the Philippines has failed to achieve self-sufficiency in rice despite having good research and development, irrigation and

extension work, and marketing for rice relative to its neighbors, as the rice prices in the country are the highest in the world. The WB economist blamed the current quantitative restrictions (QR) system for fostering corruption in the country's rice policy. He says that restrictions on rice imports are creating uncertainty in the private sector and are leading to high prices. He suggests the government to remove restrictions on importation of rice and just impose tariffs to protect local farmers. He warned that if the QR policy continues, it may lead to rice inflation as rice occupies a large portion of Filipinos food basket. He called for a new policy, which would attract foreign direct investments and bring down food prices, which are the main reason for growing poverty levels in the country. However, the Philippines Socioeconomic Planning Secretary says that removing QRs and imposing tariffs may not be easy because of ongoing negotiations for extension of the QRs on rice at the World Trade Organization (WTO). He, however, said that the government is trying to protect farmers without hurting the people below poverty line. There is a debate on the Philippines decision to continue QRs on rice imports despite the expiration of preferential treatment to imports under the General Agreement on Tariff and Trade-World Trade Organization (GATT-WTO) agreement in June 2012. The Department of Justice (DoJ) has recommended removal of QRs on rice imports as it amounts to violation of international law.
Tags: World Bank, Philippines rice imports, Quantitative restrictions on rice imports

India Government Approves Field Trials of Genetically Modified Rice

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Indias Ministry of Environment and Forests (MoEF) has approved scientific field trials of nearly 200 transgenic varieties of genetically modified (GM) food crops including rice, wheat, maize, castor and cotton, on a conditional basis, according to local sources. The Environment Minister says that the approval is based on the recommendations of the Genetic Engineering Approval Committee (GEAC) made in March 2013. The approval by the GEAC (genetic engineering approval committee) was within the bounds of law so we have approved it, said the Minister. We have no business to halt the ongoing research and development work. GEAC is an expert and statutory committee and the Ministry must not undermine it, he adds.

The previous Environment Minister had earlier put on hold the GEAC recommendations based on a public litigation seeking a total ban of GM crops, including field trials, in the Supreme Court. However, the current Environment Minister says that that though the Supreme Court is hearing the case, there is no embargo by the court on field trials. However, the companies will still have to get the approval to conduct field trials from various state governments. According to local sources, major rice producing states including Punjab and Haryana are likely to allow field trials of GM rice. The move to allow GM trials has received strong opposition from activists who allege that the government has overturned its own decision and is moving hastily to benefit foreign seed companies. The government has called a meeting of the GEAC on March 21, 2014 to address pending applications by seed companies.
Tags: India rice, Genetically Modified rice

Asia Rice Quotes Unchanged Today

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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 $425 - $435 per ton, about a $30 per ton premium over Viet 5% rice shown around $395 - $405 per ton. Indian 5% rice is quoted around $415 - $425 per ton, about a $20 per ton premium over Pak 5% rice quoted around $395 - $405 per ton. 25% Broken Rice Thai 25% rice of old crop is quoted about $350 - $360 per ton, about a $20 per ton discount to Viet 25% rice shown around $370 - $380 per ton. Indian 25% rice is quoted about $360 - $370 per ton, about a $10 per ton premium over Pak 25% rice quoted around $350 - $360 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $460 - $470 per ton. Indian parboiled rice is quoted around $400 - $410 per ton, about $5 per ton discount to Pak parboiled rice quoted around $405 - $415 per ton. 100% Broken Rice Thai broken rice, A1 Super, of the old crop is quoted around $310 - $320 per ton, about a $45 per ton discount to Viet broken rice shown around $355 $365 per ton.

Indian broken sortexed rice is quoted about $300 - $310 per ton, about a $20 per ton discount to Pak broken sortexed rice quoted around $320 - $330 per ton.
Tags: Asia rice quotes, Thailand rice quotes, Vietnam rice quotes, Pakistan rice quotes, India rice quotes

Bangladesh Rice Millers Complain About Unfairness in New Rice Packaging Norms

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Local rice millers in Bangladesh are concerned about facing uneven competition with private rice importers because of the new packaging norms imposed by the government. The Bangladesh government has made it mandatory for local rice millers to sell rice in jute sacks from January 1, 2014. However, private importers are allowed to sell rice in polyethylene bags, say local sources. Local rice millers say their costs have increased sharply due to the new norms. While the price of a jute sack is Tk 70 (around $0.88), the price of a polyethylene bag is only Tk 13 (around $0.16). "We will have to invest more to buy jute sacks. As a result, importers will have an edge over us, says the Convener of Bangladesh Auto Major and Husking Mill Owners Association. He demands that the law should be binding on both millers and importers to avoid unfair competition. Rice millers are already worried about the increasing private sector imports in the country due to high local prices. The Food Ministry data shows that the country has imported 295,730 tons of rice until February 28, 2014 in the FY 2013-14 (July 2013 - June 2014). All the imports are by the private sector and the government says it will not import any rice in this fiscal year. The country imported only 18,100 tons of rice during the same period in the FY 2012-13, of which about 20% of rice was imported by the government while the remaining was imported by the private sector. Data from Bangladesh's Customs Department branch in Benapole district of Jessore state shows that the private importers imported 80% of the rice from India. "Imported rice is coming in polyethylene bags. But maize and wheat are being imported in jute sacks," said Assistant Commissioner at Benapole Customs. He confirmed that the government has not specified

whether rice should be imported in jute sacks. Benapole is the main land port for trade with India.
Tags: Bangladesh rice prices

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Nigeria Rice Sector Stakeholders Resolve to Stop Rice Smuggling

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The Rice Millers, Importers and Distributors Association of Nigeria (RIMIDAN), along with rice distributors, importers and security agencies in Nigeria have resolved to stop rice smuggling into the country. According to local sources, RIMIDAN and other stakeholders have issued a communiqu about sanitizing Nigeria's rice sector. The communiqu also resolves to alert government agencies such as the Nigeria Customs Service, special fraud unit of Nigeria Police, and the Economic and Financial Crimes Commission (EFCC) about activities involving smuggling of rice. The stakeholders of the rice sector in Nigeria met in Lagos recently to find ways to stop rice smuggling through land borders, particularly from the borders of Republic of Benin. They have resolved to ensure that every issue related to rice policy such as high tariffs, improved value chain and boosting food sufficiency under the Federal Government's agricultural agenda would be taken to the government's notice and would be dealt with in a more transparent manner. "Federal Government had assured that it would soon resolve every contentious issue in the rice business in order to boost the economy and make those in the sector to survive," says the President of RIMIDAN. We want zero-tolerance on rice smuggling. The leadership of the distributors are ready to work with us, importers can now import legally, while millers and rice farmers should fully be back to business, he adds. Rice smuggling is causing several billions of revenue losses to the Federal Government. The government has given a mandate to RIMIDAN and other

stakeholders to take appropriate steps to combat smuggling. The stakeholders have agreed to work together to make the country's rice sector more competitive. The Federal Government of Nigeria is planning to ban rice imports from 2015 to encourage domestic production. Currently, Nigeria produces around 2.8 million tons of rice and imports around 3 million tons of rice annually. The countrys annual rice consumption needs are at around 6 million tons, according to the USDA.
Tags: Nigeria rice smuggling

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Philippines under pressure over high rice prices

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RICE PRICES in the Philippines have risen for six straight weeks, piling pressure on the government to import more of the national staple to stabilize markets and curb inflation already at two-year highs.

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NFA as exclusive rice importer

While bumper harvests in other countries have stoked a global rice glut, prices in the Philippines have climbed around 4% in the last three months after super typhoon Haiyan devastated key growing regions and as the government clamps down on smugglers looking to avoid hefty taxes.

proposed

Release of rice import halted

Increased purchases by the Philippines, one of the worlds largest rice buyers, would help ease global oversupply, with Vietnam and Thailand likely to bid aggressively for any new deal from their Southeast Asian neighbor. National Food Authority (NFA) spokesman Rex C. Estoperez confirmed reports that Manila has since late January doubled the amount of rice being released into markets from stockpiles most days, looking to curb price gains. "Private traders are running out of stocks, thats why we have released [more] rice into the market from our warehouses," he said. That has further drained NFA stocks that had dwindled to around 275,000 tons at the start of the year -equivalent to eight days worth of consumption, nearly half normal levels. Figures for January are due to be released next week. The US Department of Agriculture has already said it expects Philippine imports to hit 1.4 million tons in 2014, which would be the highest in four years. The country has yet to confirm any purchases beyond 500,000 tons it bought from Vietnam in a government-to-government deal in November. Vietnam, the worlds second-biggest rice exporter after India, is traditionally the Philippines biggest supplier as it usually offers cheaper rice. For Thailand, a deal to sell rice to the Philippines would help offload some of its huge reserves and raise much-needed money to pay farmers that participated in a controversial subsidy scheme. The average retail price of well-milled rice in the Philippines rose a further 1.2% in February from the previous month to P40.12 per kg, and was up 13.7% from a year ago, data from the Bureau of Agricultural Statistics showed on Tuesday. Mr. Estoperez said the NFA had doubled the rice allocated each day to government accredited outlets to 2,500 kg per location. Details on the number of accredited outlets in the Philippines were not immediately available. He also noted that government moves to crack down on smugglers had pushed prices higher. Philippines customs have been on a drive to curb smuggling that has been rife as some importers look to avoid a whopping 40% duty on private shipments of rice and to get around a quota system. Critics have long argued the tariff should be reduced to encourage legal imports, but President Benigno S. C. Aquino IIIs government says it is necessary to support local farmers. -- Reuters