Colombia Rice Prices Increase Slightly in March 2014

     

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Mar 18, 2014

Average white rice prices in Colombia stood at around 1.88 million pesos per ton as of March 18, 2014, up slightly from around 1.87 million pesos per ton in February 2014, but down about 2% from year-ago levels of around 1.93 million pesos per ton, according to Fedearroz.In terms of USD per ton, Colombia’s average white rice prices increased to around $928 per ton, up about 1% from around $916 (using historical exchange rates) in February 2014, but down about 13% from around $1,072 per ton (using historical exchange rates) in March 2013.Colombia’s average green paddy prices stood at around 909,086 pesos per ton as of March 18, 2014, up about 2% from around 894,614 pesos per ton in February 2014, and up about 2% from around 892,829 pesos per ton in March 2013.In terms of USD per ton, Colombia’s average green paddy rice prices increased to around $447 per ton as of March 18, 2014, up about 2% from around $438 per ton (using historical exchange rates) in February 2014, but down about 10% from around $496 per ton (using historical exchange rates) in March 2013.

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march-2014#sthash.bShxCWzw.dpuf Brazil Paddy Rice Index Declines 1% in Last Week

     

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Mar 18, 2014

The Brazilian paddy rice index maintained by CEPEA declined to around 33.69 real per 50 kilograms on March 17, 2014, down about 1% from around 34.04 real per 50 kilograms recorded on March 10, 2014.In terms of USD per ton, the index stood at around $286.8 per ton as of March 17, 2014, down about 2% from around $291.5 per ton recorded a week ago.Tags: 

Brazil paddy rice index cepea

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Vietnam Begins Rice Stockpiling to Prevent Price Drop; Success Uncertain

     

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Mar 18, 2014

The Vietnam government has approved the stockpiling of about 2 million tons of paddy rice by private companies for about four months to avoid a price drop as the country’s main rice crop harvest peaks this month.According to local sources, the State Bank of Vietnam (SBV) will provide up to 8 trillion dong ($376 million) as loans with a 7% annual rate of interest to

private companies to buy paddy from March 15 to the end of April, 2014. However, it remains doubtful whether the stockpiling program will succeed in preventing losses for farmers.Local sources say that domestic prices in Vietnam's Mekong Delta, which contributes about half of the country's rice production, have declined to about 5.1 - 5.4 million dong (around $240 - $256) per ton this month, down about 7% from around 5.5 - 5.8 million dong (around $258 - $272) per ton in February, 2014. Prices are likely to drop further due to the estimated bumper rice crop in Vietnam. According to the Agriculture Ministry, the winter-spring crop in southern Vietnam is expected to yield about 11.7 million tons of paddy rice, up about 1% from about 11.6 million tons during the previous year.Last year, the stockpiling program had little impact on prices and is unlikely to support prices this time as well, say experts. Last week, the Vietnam Food Association (VFA) said that stockpiling of rice may not control prices like in the previous years because Thailand is offloading its huge stocks this year and the prices would be market driven. The VFA recently lowered the minimum export price of Vietnamese rice by about 3% to help it remain competitive against Thai rice.Tags: Vietnam rice exports, Vietnam rice stockpiling, Minimum Export Price- See more at: http://oryza.com/news/rice-news/vietnam-begins-rice-stockpiling-prevent-price-drop-success-uncertain#sthash.B5QhjZ2F.dpuf

Pakistan Rice Farmer Groups Oppose MFN Status to India

     

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Mar 18, 2014

Rice farmer groups in Pakistan, including the Farmers’ Association of Pakistan and Rice Millers Association, are opposing the government's decision to grant non-discriminatory market access (NDMA) or Most Favored Nation (MFN) status to India.According to the NDMA/MFN provision, Pakistan will not impose duties on agricultural imports from India. However, farmer groups say that the government should impose import tariffs on some Indian agricultural products as Pakistan's production of crops such as rice, sugarcane and wheat are declining due to water scarcity. Farmer groups also allege that Indian rice farmers have an advantage over the Pakistani farmers as the Indian government provides electricity to farmers at low prices, and also provides subsidies on diesel and agricultural loans at low interest rates.

Pakistan farmer groups want the government to reverse its decision and have warned to stage a sit-in at the Indo-Pak Wagah Border for an indefinite period from March 31, 2014 if the government does not do so, , according to local sources. Farmer groups say that they are not averse to trade with India but they would oppose any move to grant NDMA/MFN status to India until the government assures farmers in Pakistan of safeguarding the agriculture sector from unfair competition. Farmer groups also say that the South Asia Free Trade Agreement (Safta) does not apply fully to the complexities involved under the WTO regime with respect to agriculture.However, some rice exporters in Pakistan say that MFN status to India will provide an opportunity to re-export India rice. India granted the MFN status to Pakistan in 1996 under WTO rules, but Pakistan hasn’t reciprocated so far.Tags: Pakistan rice sector, MFN rice- See more at: http://oryza.com/news/rice-news/pakistan-rice-farmer-groups-oppose-mfn-status-india#sthash.nSU7iCxj.dpuf

IRRI to Provide Technological Support to Popularize Water-Resistant Rice Varieties in India

     

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Mar 18, 2014

The Philippines-based International Rice Research Institute (IRRI) will provide technological support to the rice farmers in India's northeastern state of Assam to popularize water-resistant varieties.Assam is a chronically flood-prone region. Last year, the Agricultural Ministry of Assam distributed two tons of the IRRI-developed Swarna SUB-1 (flood tolerant) variety of paddy to farmers. The new varieties reportedly helped double yields to up to 4 tons per hectare. This year, submergence rice varieties are planned to be used in about 493,000 hectares of flood-prone land, which is almost 20% of the 2.5 million hectares of rice cultivated area in Assam.A team of IRRI delegates will provide technological support to the farmers to popularize the submergence rice varieties in Assam. The Director General of IRRI says that agro-climatic zone-wise trials are planned to help farmers easily adapt to the newer varieties. He also says that there is a need for phase-wise strategic improvement of capacity building. Assam could easily become a rice-surplus state by reducing flood-induced crop damages significantly, he says.According to government sources Assam’s rice production during the FY 2012-13 (April - March), spread over an area of about 2.5 million hectares,

stood at about 5.13 million tons. Assam accounts for about 5% of India's total rice production of around 105 million tons in the FY 2012-13. The state is expected to produce around 6 million tons of rice in FY 2013-14.- See more at: http://oryza.com/news/research-development/irri-provide-technological-support-popularize-water-resistant-rice#sthash.KJZ6n5QL.dpuf

Myanmar Targets 3 Million Tons of Rice Exports by 2018-19

     

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Mar 18, 2014

Myanmar plans to increase its rice exports to about 3 million tons in five years, up almost three times the current exports of around one million tons, according to the Secretary General of the Myanmar Rice Federation (MRF), reports the Myanmar Times.The MRF Secretary General says that the government is framing a new trade policy and it would help rice exporters gain access to new markets. However, Myanmar will have to build all-season ports, and construct high-capacity warehouses and rice reprocessing plants to sustain such a high volume of exports, he says.Trade experts say that Myanmar can export around 3 million tons of rice in five years if the government addresses the funding needs of the farmers, and help them earn profits. Due to inadequate funding and subsidies from the government, farmers are forced to borrow at high interest rates, according to local sources. They say increasing demand for Myanmar could be sustained by producing quality rice to meet the specifications of the international buyers.MRF is working with the government in formulating the new trade policy, which aims to increase both rice production and exports. The new policy also aims to attract foreign investment in the country's rice sector. However, the government will also have to tackle increasing illegal rice exports to China through Shan State's Muse border to protect the country’s rice sector. Local sources say about 60% of Myanmar's rice is exported through these channels to China.According to trade sources, Myanmar's rice exports are expected to decline to about 1.1 million tons in the FY 2013-14 (April - March), down about 45% from 1.6 million tons exported in the previous fiscal year due to lower demand from China and increased sales by Thailand. However, the USDA estimates Myanmar to export 1.3 million tons of rice in 2014 (January - December), up 12% from an estimated 1.16 million tons in 2013. The agency

estimates the country to produce 12 million tons of rice in the MY 2013-14, up about 2% from an estimated 11.7 million tons in the MY 2012-13.Tags: 

myanmar rice exports

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Thailand Plans New Round of AFET Rice Auction Tomorrow

     

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Mar 18, 2014

Thailand government is planning to have a new round of auction for around 240,000 tons of rice through the Agricultural Future Exchange of Thailand (AFET) on March 19, 2014, according to the commerce ministry.The commerce ministry says that that the AFET auction for 200,000 tons of rice on March 26, 2014 will take place as planned. The previous AFET auction scheduled on March 12, 2014 was postponed to March 26, 2014 due to protests from anti-government groups.The caretaker government is speeding up the sale process as it is under pressure to make payments to the farmers who pledged their rice under the rice pledging scheme. Last week, it sold about 730,000 tons of rice to the exporters and about 517,000 tons of rice in a direct auction. The Director General of the Department of Foreign Trade said that another round of direct auction is scheduled for next week and the rice being sold at the auction is suitable for both domestic and exports purposes.The commerce ministry is also distributing the low-prices 5-kilogram rice packs in the domestic market. The ministry plans to sell about 5,000 tons of rice at about 80-90 baht per 5-kilogram pack (around $500-$560 per ton) to generate funds to pay farmers.However, the exporters are worried about the export prices for Thai rice plunging due to increased supplies. Last week, the Thai Rice Exporters Association (TREA) President said the global rice prices would decline unless the government adopts alternate means to raise money to pay farmers other than selling the stocks.Meanwhile, one thousand sacks of rice (from the 2012-13 crop) kept in Buriram province are missing and the Anti-Money Laundering Office (AMLO) is investigating the case. The sacks went missing when 3,000 sacks of rice

were being transferred to another warehouse without legal authorization, said the Director General of the Internal Trade Department.Tags: Thailand rice auctions- See more at: http://oryza.com/news/rice-news/thailand-plans-new-round-afet-rice-auction-tomorrow#sthash.GGZ2j7rg.dpuf

Oryza Overnight Recap – Chicago Rough Rice Futures Little Changed Overnight Following Two Consecutive Sessions of Double Digit Gains

     

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Mar 18, 2014

Chicago rough rice futures for May delivery are currently paused 1 cent per cwt (about $0.22 per ton) lower at $15.495 per cwt (about $342 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% higher, wheat was paused about 0.5% higher, and corn is noted about 0.5% higher.U.S. stock index futures turned higher Tuesday after Russian President Vladimir Putin said in a speech that he does not want Ukraine divided further while he asserted that the Crimea region should be under Russian sovereignty. Stock-index futures held gains after economic reports had housing starts down 0.2 percent in February, compared to estimates calling for a 3.4 percent rise. The consumer-price index, a measure of inflation, rose 0.1 percent, matching its rise in January and estimates. Earlier, the market had indicated a slightly lower opening on Wall Street, as the U.S. Federal Reserve begins a two-day policy meeting. Stocks rallied on Monday, with the Dow industrials rebounding after a five-day losing streak, as voting in Crimea passed without violence and after economic reports had U.S. manufacturing output jumping the most in six months in February. U.S. stock index futures are currently trading about 0.4% higher, gold is currently trading about 1.5% lower, crude oil is seen trading about 0.3% higher, and the U.S. dollar is currently trading marginally higher at 8:00am Chicago time.Tags: chicago rough rice futures- See more at: http://oryza.com/news/cbot/oryza-overnight-recap-%E2%80%93-chicago-rough-rice-futures-little-changed-overnight-following-two#sthash.tnwu26t3.dpuf

Vietnam Rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged

     

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Mar 18, 2014

Vietnam rice sellers increased their quotes for 5% broken rice by about $5 per ton to about $390-$400 per ton today. Other Asia rice sellers kept their quotes mostly unchanged.5% Broken RiceThai 5% rice (of new crop) is quoted around $400 - $410 per ton, about a $10 per ton premium over Viet 5% rice shown around $390 - $400 per ton, up about $5 per ton from yesterday.Indian 5% rice is quoted around $420 - $430 per ton, about a $20 per ton premium over Pak 5% rice quoted around $400 - $410 per ton.25% Broken RiceThai 25% rice of the old crop is quoted about $350 - $360 per ton, about a $5 per ton premium over Viet 25% rice shown around $355 - $365 per ton.Indian 25% rice is quoted around $360 - $370 per ton, about a $5 per ton premium over Pak 25% rice quoted around $355 - $365 per ton.Parboiled RiceThai parboiled rice of the old crop is quoted around $405 - $415 per ton.Indian parboiled rice is quoted around $405 - $415 per ton, about $15 per ton discount to Pak parboiled rice quoted around $420 - $430 per ton.100% Broken RiceThai broken rice, A1 Super, of the old crop is quoted around $305 - $315 per ton, about a $30 per ton discount to Viet broken rice shown around $335 - $345 per ton.Indian broken sortexed rice is quoted around $300 - $310 per ton, about a $30 per ton discount to Pak broken sortexed rice quoted around $330 - $340 per ton.Tags: Asia rice quotes, Thailand rice quotes, Pakistan rice quotes, Vietnam rice quotes, India rice quotes- See more at: http://oryza.com/news/rice-news/vietnam-rice-sellers-increase-some-their-quotes-today-other-asia-rice-quotes-3#sthash.WYawXBAQ.dpuf

Oryza U.S. Rough Rice Recap – Wide Bids, Offers Keep Trading Light; 24 Warehouse Receipts Canceled

     

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Mar 19, 2014

The U.S. cash market was mostly quiet today as offers from farmers remain much higher than what most buyers were willing to pay. Meanwhile, the cost of loading out warehouse receipts is currently more attractive to some buyers than the offers they are seeing from farmers in their area, and as a result, there were 24 warehouse receipts canceled overnight leaving 375 on the exchange (34,125 tons). As of today, old crop offers held steady near $15.55-$16.11 fob farm (about $343-$355 per ton) for nearby shipment however as you get closer to May and June offers increase substantially. Bids from larger mills increased today to around $15.25 per cwt (about $336 per ton) for March-April delivery while bids for exporters could still be found around $15.55 per cwt (about $343 per ton), for the same delivery period, and although there are still reports of smaller mills bidding around $16.00 per cwt (about $353 per ton) for prompt delivery, no trades were reported.Tags: U.S. rice market, U.S. rice prices- See more at: http://oryza.com/news/us-rough-rice/oryza-us-rough-rice-recap-%E2%80%93-wide-bids-offers-keep-trading-light-24-warehouse#sthash.T2REOsy5.dpuf

Italy Paddy Sales Slow amid Demand Rationing

     

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Mar 19, 2014

With less and less paddy available, higher prices seem to be rationing demand for Italian paddy rice. In the week March 4 - 11, about 21,918 tons of Italian paddy were sold,  about half the tonnage sales made in the prior week. Since September 2013, 848,861 paddy tons (about 59% of production) have been sold. Last year at this time, about 915,374 tons (56% of production) was sold.  There are about 7 months until the next harvest and right now farmers are preparing for seeding. Sales in the week March 4 - 11 include:  8,092 tons of Long A, down from

17,056 tons the prior week; 5,907 tons of Long A (down from 12,968 tons the prior week); 7,681 tons tons of round grain varieties(down from 9,219 tons a week earlier); and 238 tons of medium grain rice(down from 894 tons the week prior). The most sold varieties remain Loto and Ariete at 5,608 tons sold last week, followed by Carnaroli, with 881 tons, and Arborio-Volano, with 817 tons. Beginning paddy availability (including about 9,000 tons in carryover stocks) for 2013 amounted to 1,447,783 tons, down from 1,646,103 tons in 2012.Tags: italy paddy production, italy paddy sales, italy rice supplies, italy rice stocks- See more at: http://oryza.com/news/rice-news/italy-paddy-sales-slow-amid-demand-rationing#sthash.NAlc5wIY.dpuf