10th march,2014 daily global rice e newsletter by riceplus magazine

10th March , 2014

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Need to improve agri yields
Confusion trails Nigeria’s rice policy, as Okonjo-Iweala, Adesina express divergent views
Rice prices drop to 8,000 - 8,200 baht per ton
Oryza Rice Currency Analysis for Today – Pakistan Rupee UP 1%; Brazil Real Down 1%
Thailand Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged
Oryza White Rice Index – Is the End of the Thailand Rice Mortgage Scheme Bullish for Prices?
Oryza Afternoon Recap – Chicago Rough Rice Futures Finish Slightly Higher on the Day, but With a Steep Loss
on the Week; Soy, Wheat Rally while Corn Slips
EU Rice Imports Up 8% from Last Year
Oryza Overnight Recap – Chicago Rough Rice Futures Trade Higher Overnight Supported by Gains in Grain
Complex
Oryza Global Rice Quotes
Thailand Rice Exporters Spreading Rumors About Low Price Trend, Says Deputy Commerce Minister
Philippines to Continue Rice Imports in 2014, Says Agriculture Secretary
China Signs MoU to Buy One Million Tons of Rice from Thailand

NEWS DETAILS:
Need to improve agri yields
March 08, 2014
RECORDER REPORT

Cell # 92 321 369 2874

Pakistan's yield per acre of gram has dropped by 50 percent: from 5 maunds per acre to 2.5 maunds per acre,
according to Ibrahim Mughal Chairman of the Agri-Forum Pakistan. This statistic would surprise no one in the
wake of a 2011 United Nations Food and Agriculture Organisation (FAO) 2011 report that revealed that
Pakistan was behind regional as well as global yields per acreage for nearly all crops including wheat, rice,
sugarcane and pulses. The report added that while Pakistan is one of the ten major producers of wheat in the
world, around 24 million tons, with 24.5 to 25 million tons of total output projected in the current year, yet our
per acre yield is only 2.6 tons per hectare while India's yield is 2.8 tons and China's 4.7 tons per hectare. The
highest wheat yield is in the UK at 7.7 tons per hectare; however, its cycle is spread over one year against five
months in Pakistan. Wheat exports have varied - from 52.7 million rupees in July-April 2012-13 to 112.7
million rupees in 2011-12.
Rice yield in Pakistan was calculated at 3.1 tons per hectare with a total output of around 9 million tons making
Pakistan one of the ten largest producers of the crop world-wide. Rice exports have accounted for as high as 11
percent of our total exports accounting for almost 1.7 billion rupees in 2011-12. In contrast, India's yield per
hectare is 3.3, Bangladesh's 4.2 and Sri Lanka's 4.1. China has the highest yield - 6.5 tons per hectare. Pakistan's
sugarcane yield per hectare is 52.4 tons, in comparison to India's 66.1 tons which is the regional leader followed
by China's 65.7 tons per hectare and Bangladesh's 43.8 tons per hectare. Brazil is the world leader at 79.2 tons
per hectare. In coarse grains, Pakistan's yield is 2.2 tons per hectare, India's is lower at 1.2 tons per hectare and
Italy has the highest yield at 7.6 tons per hectare. Pakistan's yield for pulses is 0.6 tons per hectare, India's per
hectare yield is 0.7 tons, Bangladesh's 0.9 tons per hectare and the highest yield in pulses is in the UK at 3.9
tons per hectare.
Pakistan, however, has the highest per acre yield of 21.6 tons per hectare in roots and tuber production, India's
yield is 20.6 tons per hectare, China's 17.8, and Bangladesh 17.7. However, Pakistan is far behind the US
registering where per hectare is 42.1 tons. The FAO report highlighted the reasons for the low yield in Pakistan
in comparison to regional countries as well as globally: water shortage, absence of high yield varieties of seeds
and lack of research and development. However, in this context it is relevant to note that FAO's data takes
account of the national average while the yield per hectare of different crops varies from province to province.
Punjab remains the food basket of the country and its yield is on average higher than the national average.
Additionally, within provinces yield varies markedly between subsistence farms and those operated by the rich
landlords whose yield per acreage is closer to the regional average. Be that as it may, it is also relevant to note
that the Indian Punjab has a higher yield per hectare in most crops relative to the Pakistani Punjab.

What is perhaps required is for the provincial governments, given that agriculture is a provincial subject, take
cognisance of their farm sectors and initiate appropriate measures based on studies in high yield countries on
how to increase yield. Assistance in this regard can be sought from China, the US and the UK as well as Brazil
the world leaders in yields in specific crops.

Cell # 92 321 369 2874

Confusion trails Nigeria’s rice policy, as Okonjo-Iweala, Adesina express
divergent views
Bassey Udo
Published: March 8,2014

The new official policy would be announced soon.
Confusion trails the Federal Government‟s policy on rice
importation as two ministers express divergent views on the
current policy.About 48 hours after the Finance Minister,
Ngozi Okonjo-Iweala, announced the federal government‟s
decision to reduce import tariff on rice, and thus encourage
legal importation, the Agriculture Minister, Akinwunmi
Adesina, said the federal government is still determined to
reduce importation of the product.Mrs. Okonjo-Iweala said
on Wednesday in Abuja that government was contemplating
on reducing the tariff on rice importation to help reduce smuggling of the commodity into the country.
The minister was fielding questions during the maiden edition of „Budget 2014 Jam‟, a youth online programme
initiated by the Finance Ministry to enable the minister answer questions from a cross section of Nigerians
youth on the budget.The minister said that the existing 110 per cent duty on rice importation, recently put in
place by the federal government, would have to be reviewed downwards as government has found that it was
encouraging smuggling of the commodity into the country.“We increased the tariff to 110 per cent, and it
encouraged some people to go and grow rice, and we grew 1.1 million metric tonnes of the product.“But, it also
encouraged smuggling by neighboring countries, because they immediately dropped their own tariffs to 10 per
cent,” Mrs. Okonjo-Iweala said.
The finance minister explained that the government had decided to review the import tariff downwards because
increased tariff was not working.“For rice, we decided to bring it (import tariff) down because we see that it
(the current 110 per cent import tariff) is not working,” she said.But, the Agriculture and Rural Development
Minister, Mr. Adesina, insisted on Friday that the federal government was still determined to discourage and
stop rice importation.“We want to discourage those that bring rice as traders,” he said. “We want those that are
going to go in and have commercial farms, produce rice, buy domestic paddy rice and mill it for us.
He said government was looking at the rice tariff policy to discourage importers of rice, while encouraging
those going into local production, processing and milling of rice.“That policy will be released very soon; you
will see that we have chosen the path of supporting those that are investing in Nigeria, not those that are going

Cell # 92 321 369 2874

to be bringing rice from outside,” he said.The minister said that government would not allow any rice importer
to create poverty in the country, saying that poverty is not an industry that should be developed.
On dry season farming, Mr. Adesina said that the 2013/2014 programme was currently going on in 24 states of
the federation with the aim of producing 2.1 million tons of rice.He said that the figure was equivalent to 75 per
cent of the total rice imported into the country, if it could be milled at international quality standard.He stated
that the 2014 Dry Season Farming Support Programme launched by President Goodluck Jonathan was aimed at
making 600,000 farmers to benefit from a N14 billion grant.The Federal Government, he said, was committed
to ensuring that more integrated rice mills were established in the country as local rice is better than the
imported brand.He said he was confident that by 2016 or there about, Nigeria would be self-sufficient in rice
production with the amount of local production the country is having today.Rice is the most consumed staple
food by Nigeria‟s 160 million people.

Rice prices drop to 8,000 - 8,200 baht per ton
Sunday, 09 March 2014By NNT

BANGKOK, 7 Mar 2014, The prices of rice have dropped to the
range of 8,000 - 8,200 baht per ton for grain with 15% moisture
content, according to the media reports, predicting that prices may
dive even further down to 7,000 baht per ton.Rice millers are now
offering the said prices only for off-season rice, as rice farmers
have begun to unload their freshly harvested crops, the reports
indicated, citing the 7,000 baht per ton price is the lowest level in 6
years.Currently, rice traders are keeping their eyes on the
government‟s policies on the management of its stockpile of rice,
as its rice pledging scheme will soon come to an end. Analysts pointed out that the government might rush to
sell the stockpiled rice to obtain the money to pay rice farmers who have yet to receive the rice pledging
program money, forcing the prices to drop further.According to the Commerce Ministry‟s record, the price
during the first 3 months of 2009 was quoted at 2,125 baht per a 100-kilogram sack of white rice; currently,
millers offer only 1,475 for each 100-kilogram sack

Oryza Rice Currency Analysis for Today – Pakistan Rupee UP 1%; Brazil Real
Down 1%
Mar 07, 2014

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U.S. dollar index was up +0.09% from the open today, when it traded at 79.730 at the close.
Euro was stronger +0.08% by the close, trading around 1.3872 by end of day, after trading between an intraday
high of 1.3915 and low of 1.3852.
Thai baht was weaker -0.28%, trading at 32.325 at the close of business.
Indian rupee was +0.05% stronger at 61.0875.
Brazilian real was -0.96% weaker at the close of trading today, trading at 2.3464 reais per dollar.
Pakistan rupee was +1.05% stronger at 103.2000.
Vietnamese dong was unchanged at 21100.
Mexican peso was weaker -0.39% today, when it traded at 13.2039 pesos per dollar by the close of business
today.
Chinese yuan was weaker -0.14%, trading at 6.1274.
Argentine peso was stronger +0.14% at 7.8606 pesos per dollar.

Thailand Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes
Unchanged
Mar 07, 2014

Thailand rice sellers lowered their quotes for parboiled rice by about $5 per ton to about $435 - $445 per ton
today. Other Asia rice sellers kept their quotes mostly unchanged.
5% Broken Rice
Thai 5% rice (of new crop) is quoted around $415 - $425 per ton, about a $30 per ton premium over Viet 5%
rice shown around $385 - $395 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 the old crop is quoted about $350 - $360 per ton, about a $5 per ton discount to Viet 25% rice
shown around $355 - $355 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 $435 - $445 per ton, down about $5 per ton from yesterday.

Cell # 92 321 369 2874

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 $35 per ton discount
to Viet broken rice shown around $345 - $355 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

Oryza White Rice Index – Is the End of the Thailand Rice Mortgage Scheme Bullish
for Prices?
Mar 07, 2014

The Oryza White Rice Index, a weighted average of global white rice export quotes, ended the week at $457 per
ton, down about $4 per ton from a week ago and $6 per ton from a month ago and down $35 per ton from a year
ago. The index seems to have lost its upward trend since last autumn and is again declining toward $450 per
ton, weighed down by Thailand quotes on ideas that Thailand will flood the market with cheap rice after the
failure of its rice mortgage scheme.FAO‟s All Rice Price Index gained about 10 points in February, averaging
about 237 points in February. This shows an increase of about 5% from January. The FAO also estimates

Cell # 92 321 369 2874

global rice trade will reach about 38.3 million tons in 2014, about 100,000 tons or 3% higher than in 2013. The
International Grain Council (IGC) estimates global rice trade will reach about 38.5 million tons. The IGC also
forecasts the global rice stocks-to-use ratio will decline for the first time in 9 years.
Thailand
While some fear that Thailand rice will flood the market, others say Thai rice supplies could dwindle after the
rice mortgage scheme because farmers will not be incentivized to grow as much paddy. In fact, the Bank of
Agriculture and Agricultural Cooperatives (BAAC) asked the government to pay subsidies to farmers to stop
growing rice for the 2013-14 second crop (March 1 – September 30), according to local sources. The hope is
that these direct subsidies will prevent new product from entering the already glutted market and help stabilize
failing prices. Farmers who do grow rice for the second crop will likely receive much less for their rice than
they did under the now-defunct rice mortgage program. With the government unable to pay farmers for the
paddy they have pledged, it may be farfetched to see how the government can afford to pay farmers not to grow
paddy.
Perhaps Thailand tax payers need to prepare for higher fees and taxes? Either way, if Thailand paddy prices
decline and farmers plant less paddy, Thailand rice prices and export quotes may advance. This could especially
be the case if Thailand is not sitting on as much rice as we think (due to lost/stolen stocks). Meanwhile, in reply
to concerns Thailand will flood the market with cheap rice, the Deputy Commerce Minister refutes claims that
Thai rice prices are dropping quickly, claiming it‟s the Thai rice exporters who are spreading this rumor in
efforts
to
buy
cheap
rice
now
to
sell
for
a
profit
later.
Thailand 5% broken rice is today quoted about $420 per ton, down about $10 per ton from a week ago, $20 per
ton from a month ago and down $130 per ton from a year ago.The state-owned Cereals, Oils and Foodstuffs
Corporation (COFCO) in China signed a Memorandum of Understanding with Thailand‟s Foreign Trade
Department Thursday to buy one million tons of rice from Thailand.
India
India 5% broken rice ended the week at $420 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.The southern state of Karnataka has been criticized by
India‟s Comptroller and Auditor General for contributing a fraction of the rice it should have toward the central
pool.
The Indian government has procured about 24.66 million tons of rice as of March 3, down about 10% from the
same time last year, according to data from the Ministry of Consumer Affairs, Food and Distribution, a possible
sign that production may fall short of projections.Next month, India‟s 814 million eligible citizens will start
voting to decide whether Prime Minister Manmohan Singh‟s ruling party will retain its position as head of the
country, as it has for decades. There will be 9 rounds of voting from April 7 to May 12 in order to elect 543
lawmakers.
Vietnam

Cell # 92 321 369 2874

Vietnam 5% broken rice is today shown about $390 per ton, down about $10 per ton from week ago and down
about $15 per ton from a month and a year ago.During January and February both, Vietnam exported about
637,756 tons of rice, about 14% less than the same time last year. In February 2014, Vietnam exported about
330,501 tons of rice, up about 8% from about 307,255 tons of rice exported in January 2014, but down about
3% from February 2013, when Vietnam exported about 340,184 tons of rice.
Average export price in February 2014 stood at about $445 per ton, up about 7% from a month ago and up
about 3% from year ago levels.Vietnam announced it will stockpile one million tons of rice in the winter-spring
crop, according to the Vietnam Food Association. They hope this will help firm paddy prices during harvest
pressure.
Pakistan
Pakistan 5% broken rice is today quoted at about $400 per ton, unchanged from a week ago, up about $5 per ton
from a month ago and down about $30 per ton from a year ago.Last week, Russia lifted a phytosanitary ban on
Pakistani rice.
Brazil
The International Grain Council reports that production in South America is expected to reach a 3-year high of
16.4 million tons in 2013-14, about 4% higher than the previous year. Most of the increase is thanks to higher
yields in Brazil.Brazil 5% broken rice is today shown about $665 per ton, unchanged from a week and a month
ago.
US
U.S. 4% broken rice is today shown about $585 per ton, up about $5 per ton from a week and a month ago and
down about $45 per ton from a year ago.The USDA reported that cumulative net export sales for the week
ending on February 27, totaled 66,600 tons, which was 29% lower than last week and 28% lower than the prior
4-week
average.
Increases were reported for the following destinations including: 38,200 tons to Japan, 18,600 tons to Panama
(including 17,200 tons switched from unknown destinations), 12,600 tons to Turkey, 7,900 tons to El Salvador
(including 8,200 tons switched from unknown destinations and decreases of 300 tons), and 4,700 tons to
Mexico. There were also decreases of 25,400 tons reported for unknown destinations and 1,500 tons for
Switzerland.U.S. rice exporters shipped 70,100 tons, which was 8% lower than the previous week but 21%
higher than the prior 4-week average. The primary destinations included: 24,000 tons to Mexico, 18,600 tons to
Panama, 8,700 tons to Turkey, 8,200 tons to El Salvador, and 2,300 tons to Saudi Arabia.Chicago rough rice
futures for May delivery dropped throughout the week, declining from as high as $15.66 per cwt (about $345
per ton) on Monday to as low as $15.20 per cwt (about $335 per ton), before settling at $15.33 per cwt (about
$338 per ton) Friday morning.
Other Markets

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The Philippines announced it will continue to import rice in 2014 in efforts to replenish stocks that were
depleted
by
effects
from
the
typhoons
last
year.
In 2013, China imported about 2.2 million tons of rice, according to the General Administration of Customs in
China. This is about 6% less than in 2012.
Uruguay and Argentina 5% broken rice ended the week at $625 per ton, down about $5 per ton from a week
and
a
month
ago
and
up
about
$15
per
ton
from
a
year
ago.
Cambodia 5% broken rice is today quoted about $455 per ton, unchanged from a week and a month
ago. Cambodia has already exported about 48,573 tons of rice in 2014, but this is about 2.5% less than the
same time last year. Most of the rice was shipped to the EU, Malaysia, and China.
Starting in 2014, South Korea will likely end its 20-year long rice import quota. The Agriculture Minister
claims that they will set import duties between 300%-500% of import prices, a decision that must first be
approved by the WTO. The final policy will be announced by the South Korean government by June. South
Korea bought 57,222 tons of Asian-origin rice for prices of about $388.2 - $945 per ton in tenders issued
February
5.
Egypt may begin allowing rice exports again in efforts to boost the country‟s economy. The suspension has
been
in
effect
since
November
2013.
The Bangladesh government has decided to increase the Aman crop (May-December) rice procurement target
between December 1 and February 28 by 33%, to a total of 400,000 tons of rice. They are targeting rice
production of 35 million tons in FY 2013-14, about 3% higher than last year‟s production.
According to the Jakarta statistics office, Indonesia‟s paddy rice production increased to 71.29 million tons in
2013, an increase of about 3% from 2012. Higher acreage and yields both contributed to this increase, which
allowed them to
decrease their imports by 67%
in 2013, compared to 2012.
Qatar has issued a tender to purchase 750,000 sacks of basmati rice 1121, according to Qatar‟s Central Tenders
Committee.
Submissions
are
due
March
10.
According to the USDA Post, Peru‟s milled rice production is expected to decrease to about 2.1 million tons in
MY 2014-15 (April-March). This is about 3% and 56,000 tons less than the estimated 2.16 million tons in MY
2013-14.
Tags: Oryza White Rice Index (WRI)

Oryza Afternoon Recap – Chicago Rough Rice Futures Finish Slightly Higher on the
Day, but With a Steep Loss on the Week; Soy, Wheat Rally while Corn Slips
Mar 07, 2014

Cell # 92 321 369 2874

Chicago rough rice futures for May delivery settled 2.5 cents per cwt (about $1 per ton) higher at $15.310 per
cwt (about $338 per ton). Rough rice futures settled slightly higher after a quiet trading session today. Prices
remained trapped within a tight 11 cent per cwt (about $2 per ton) trading range, never moving more than 7.5
cents per cwt (about $2 per ton) to either side of unchanged. The day‟s gains provide additional support to the
idea that a near term low of $15.200 per cwt (about $335 per ton) put in place on Wednesday will likely act as a
turning point in the recent downtrend. Despite a modest attempt at a recovery over the last two trading sessions
the loss for the week stands at 32.5 cents per cwt (about $7 per ton). Technically the market appears to be
settling into a period of sideways trading bound by underlying support provided by the previously mentioned
low and overhead resistance at $15.500 per cwt (about $342 per ton) a level that represents both technical and
psychological significance. The other grains were mostly higher again today; soybeans closed about 1.4%
higher at $14.5775 per bushel; wheat finished about 1.2% higher at $6.5400 per bushel; and corn finished the
day about 0.4% lower at $4.8900 per bushel.
U.S. stocks turned mostly lower on Friday, with the S&P 500 wavering in the wake of its record rise, after the
February jobs report exceeded expectations. Figures from the Labor Department had the economy adding
175,000 jobs last month, following an upwardly revised 129,000 increase in January. The unemployment rate
unexpectedly rose to 6.7%. Rising 83 points and falling as much as 6, the Dow Jones Industrial Average was
recently up 12.43 points, or 0.1%, at 16,434.32. Stepping in and out of negative turf after rising to an intraday
record of 1,883.58, the S&P 500 was lately off 2.17 points, or 0.1%, at 1,874.86, with materials hardest hit and
financials the best performing of its 10 major sectors. Wavering between gains and losses, the Nasdaq was
lately down 24.39 points, or 0.6%, to 4,327.72. Gold is trading about 1% lower, crude oil is seen trading about
0.9% higher, and the U.S. dollar is seen trading about 0.1% higher at about 1:00pm Chicago time.Thursday,
there were 428 contracts traded, down from 628 contracts traded on Wednesday. Open interest – the number of
contracts outstanding – on Thursday increased by 97 contracts to 7,605.
Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market

EU Rice Imports Up 8% from Last Year
Mar 07, 2014

Since September 1, 2013 - the beginning of the 2013-14 crop year - to February 25, 2014, the European Union
(EU) imported 448,810 tons of milled rice, up nearly 8% from 416,414 tons imported in the same period a year
earlier. According to EU data, the United Kingdom is the biggest importers of foreign rice, importing 96,178
tons since September. The second biggest importer is France with 78,250 tons since beginning of crop year. The
Netherlands follows with 60,288 tons. Italy's imports since September total 26,634 tons.Most of the rice
imported to the EU is indica rice, both milled and half milled. Milled Indica rice imports advanced from
177,410 tons of one year ago to 242,825 tons of today, up 36.8% y/y; most of this rice was imported with zero
import duties from Less Developed Countries (LDCs) such as Cambodia and former Myanmar under the
Everything But Arms (EBA) agreement.
Imports of broken rice declined about 6% from 160,046 tons of one year ago to 152,235 tons this year.

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Oryza Overnight Recap – Chicago Rough Rice Futures Trade Higher Overnight
Supported by Gains in Grain Complex
Mar 07, 2014

Chicago rough rice futures for May delivery are currently paused 4.5 cents per cwt (about $1 per ton) higher at
$15.330 per cwt (about $338 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 1.3% higher, wheat was paused about 1.9%
higher, and corn is noted about 1% higher. U.S. stock index futures pointed to a higher open on Wall Street on
Friday, as investors welcomed news that the U.S. economy created 175,000 jobs in February, with the number
exceeding expectations.
The benchmark 10-year Treasury yield, down 1 basis point at 2.726% before the report, shoot up 7 basis points
in its wake, to 2.805%. The government also revised the prior month higher, now estimated that 129,000 jobs
were added in January. Friday will also bring the latest U.S. trade report and consumer credit figures for
January. Investors' other main focus will be on the escalating tension between the West and Russia over
Ukraine. U.S. stock index futures are currently trading about 0.5% higher, gold is currently trading about 1.4%
lower, crude oil is seen trading about 0.5% higher, and the U.S. dollar is currently trading about 0.2% higher at
8:00am Chicago time.
Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market

Oryza Global Rice Quotes
March 7th, 2014
Long grain white rice - high quality
Thailand 100% B grade 430-440
Vietnam 5% broken
385-395
India 5% broken
415-425
Pakistan 5% broken
395-405
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
355-365
Pakistan 25% broken
350-360
Cambodia 25% broken 420-430
India 25% broken
360-370
U.S. 15% broken
555-565
Long grain parboiled rice

↔
↔
↔
↔
↔
↔
↔
↔
↔
↔
↔
↔
↔

Cell # 92 321 369 2874

Thailand parboiled 100% stxd 435-445
↓
Pakistan parboiled 5% broken stxd
405-415
India parboiled 5% broken stxd 400-410
↔
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% 955-965
↔
Vietnam Jasmine
495-505
↔
India basmati 2% broken
1515 -1525
↔
Pakistan basmati 2% broken
NQ
↔
Cambodia Phka Malis 885-895
↔
Brokens
Thailand A1 Super
310-320
↔
Vietnam 100% broken 345-355
↔
Pakistan 100% broken stxd
320-320
↔
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 620-630
↔
Egypt medium grain 6% NQ
↔

↔

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

Thailand Rice Exporters Spreading Rumors About Low Price Trend, Says Deputy
Commerce Minister
Mar 07, 2014

Thailand's caretaker Deputy Commerce Minister has slammed Thai rice exporters for spreading rumors of a low
price trend for Thai rice, according to the local sources.The minister says that the exporters are spreading
rumors so that it will help them buy rice from government stockpiles at cheaper prices and sell the rice at a
higher profit margin later this year. He has warned the exporters to stop such rumors or else they would be put
under monitoring by the Internal Trade Department officials, who would scrutinize them for violating law on
prices of goods and services.However, local sources say that domestic prices of Thai rice have dropped to
around 8,000 - 8,200 baht (around $247 - $254) per ton for grain with 15% moisture content.
Millers and traders say prices would further fall to around 7,000 baht (around $216) per ton as the farmers start
offloading rice from the 2013-14 second crop into the market. Traders also say that prices may fall further as the
government rushes to sell rice from its stockpiles to pay the farmers. Moreover, the caretaker government is
under pressure to sell the stocks as it has to return the 20 billion baht (around $613 million) it is using from the

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Central Budget to pay farmers before May 31, 2014.Separately, the Permanent Secretary for Commerce said the
Agricultural Futures Trading Commission (AFTC) will promote sales of rice through the Agricultural Futures
Exchange of Thailand (AFET) and pay farmers, who had pledged their rice under the rice pledging program.
She said distribution of rice through the AFET is transparent and fair.
Tags: Thailand rice exports, Thailand rice prices

Philippines to Continue Rice Imports in 2014, Says Agriculture Secretary
Mar 07, 2014

The Philippines government will continue to import rice in 2014 due to the depletion in rice stocks and shortfall
in production due to typhoons last year, according to the Agriculture Secretary.The Agriculture Secretary says
that the country targeted around 20 million tons of paddy rice production to achieve self-sufficiency in rice in
2013, but fell short by around 8% (around 1.56 million tons of paddy rice). The National Food Authority (NFA)
also had to release large volumes of rice from stocks to victims of the Typhoon Haiyan (Yolanda). However, the
Agriculture Secretary says that the government is studying the requirement.The NFA is mandated to maintain a
buffer stock of 500,000 tons, sufficient to last for fifteen days at a national consumption rate of 34,000 tons
daily.
However, latest data from the Bureau of Agricultural Statistics (BAS) shows that NFA stocks have declined to
270,000 tons. NFA says that stocks are also low because it had to release more stocks into the market recently
to control rice price rises in the country. According to the BAS, average retail prices of rice in February rose by
1.2% to P40.12 per kilogram ($898 per ton) over P39.6 per kilogram ($887 per ton) in January, up 14% from
P34.5 (around $773 per ton) a year earlier.In February, 2014, the NFA invited private importers to apply for
quota allocations to import 163,000 tons of well-milled rice under the Minimum Access Volume - Country
Specific Quota (MAV-CSQ). The Philippines allocations were spread among Thailand (98,000 tons), India and
China (25,000 tons each), and Australia (15,000 tons).Under its self sufficiency in rice goal, the Philippines
government is targeting to produce 21 million tons of paddy rice in 2014, which is around 14% more than the
18.44 million tons produced in 2013. According to the USDA, the Philippines milled rice production in 2014 is
estimated at around 11.64 million tons (about 18.47 million tons, basis paddy), against a consumption of around
12.85 million tons. Rice imports in 2014 are estimated at around 1.4 million tons, according to the USDA.
Tags: Philippines rice imports

China Signs MoU to Buy One Million Tons of Rice from Thailand
Mar 07, 2014

China's state-owned Cereals, Oils and Foodstuffs Corporation (COFCO) signed a Memorandum of
Understanding (MoU) with Thailand's Foreign Trade Department yesterday to buy one million tons of rice from

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Thailand, according to local sources.According to Bloomberg, Thailand will supply the rice in 12 months.
About 400,000 tons of rice will be shipped between March and July, 2014, with the first delivery of about
100,000 tons is scheduled for March 2014.Thailand's Foreign Trade Department Director-General said officials
visited China this week for price negotiations. The meeting was a success and the deal indicates China's interest
to buy more rice from Thailand, he said. He added that the Foreign Trade Department would invite Thai rice
entrepreneurs to offer rice prices and improve rice quality to deliver to COFCO as per the agreed schedule. The
Director-General also says that the Foreign Trade Department is negotiating with other countries more
government-to-government deals may be signed this year.The Thai government is planning to auction around
500,000 tons of rice from its stockpile on March 10, 2014.
Tags: China rice imports, Thailand rice exports, Cereals, Oils and Foodstuffs Corporation (COFCO)

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Mujahid Ali
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+92 321 369 2874

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10th march,2014 daily global rice e newsletter by riceplus magazine

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