3rd July, 2014 Dail Exclusive ORYZA E-Newsletter by Riceplus Magazine

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July, 2014

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TOP Contents - Tailored for YOU
Latest News Headlines

Oryza Afternoon Recap - Chicago Rough Rice Futures Pop Higher as New Crop Futures Find Buyers
Oryza Rice Currency Analysis for Today Brazil Real Declines 1%
Government of India is Flooding Local Market with Cheap Rice to Stamp Out Inflation; But, Will It Work?
Indonesia Will Not Import Rice in 2014, Says Deputy Agriculture Minister
Argentina Exports 212,051 Tons of Rice in January - April 2014; Up 33% from Previous Year
Pakistan Rice Exports Decline 8% y/y to 2.9 Million Tons in July 2013 - May 2014; Earnings Up 14% y/y
Indonesia 2014 Paddy Rice Production to Reach 69.8 Million Tons; Down 2% from Last Year
Oryza Global Rice Quotes

News Detail
Oryza Afternoon Recap - Chicago Rough Rice Futures Pop Higher as New Crop
Futures Find Buyers
Jul 02, 2014
Chicago rough rice futures for Sep delivery settled 16 cents per cwt (about $4 per ton) higher at $13.690 per cwt
(about $302 per ton). The other grains finished the day with mixed results; soybeans closed about 0.5% lower at
$11.4150 per bushel; wheat settled about 0.5% higher at $5.7550 per bushel, and corn finished the day about
1.1% lower at $4.1800 per bushel.U.S. stocks closed mixed on Wednesday as the Dow and S&P 500 pushed
into uncharted territory ahead of a government jobs report expected to confirm economic strength. In the last


full day of trading before the July 4th holiday, the Dow had the narrowest range of the year, reaching a high of
just 37 points in the first 15 minutes of trading. Earlier in the day, the ADP jobs report reported better-than-
expected numbers.

The report is viewed as an indicator of the all-important non-farm payrolls due Thursday, estimated to rise by
212,000. Traders also looked to the bond market as Treasury yields on benchmark 10-year notes rose to the high
end of the curve at 2.62%. The Dow Jones Industrial Average ticked higher. The S&P 500 traded slightly higher
as half of the 10 sectors hit 52-week highs, with the health care sector leading gains. After leading sectors for
the year, utilities were the greatest laggard overall, suffering its biggest one-day decline since June 2013. The
Nasdaq traded lower. Gold is trading about 0.1% higher, crude oil is seen trading about 1% lower, and the U.S.
dollar is seen trading about 0.2% higher about 4:00pm Chicago time.Tuesday, there were 658 contracts traded,
up from 451 contracts traded on Monday. Open interest the number of contracts outstanding on Tuesday
decreased by 348 contracts to 8,106.

Oryza Rice Currency Analysis for Today Brazil Real Declines 1%
Jul 02, 2014
U.S. dollar index was up +0.18% from the open today, when it traded at 79.954 at the close.

Euro was weaker -0.18% by the close, trading around 1.3655 by end of day, after trading between an intraday
high of 1.3683 and low of 1.3643.

Thai baht was stronger +0.02%, trading at 32.383 at the close of business.

Indian rupee was stronger +0.64% at 59.6937.

Brazilian real was weaker -1.07% at 2.2257 reais per dollar.

Pakistan rupee was +0.10% stronger at 98.5905.

Vietnamese dong was stronger +0.05% at 21320.
Mexican peso was weaker -0.50% today, when it traded at 13.0075 pesos per dollar by the close of business.
Chinese yuan was weaker -0.14% at 6.2103.
Argentine peso was weaker -0.03% at 8.1367 pesos per dollar.


Government of India is Flooding Local Market with Cheap
Rice to Stamp Out Inflation; But, Will It Work?

Jul 02, 2014
Indias Cabinet Committee on Economic Affairs (CCEA) has approved the respective State governments and Union
Territories (UTs) to distribute the additional 5 million tons of rice, which the government has decided to release from the
Central Pool to contain inflation and curb price hikes, at Below Poverty Line (BPL) and Above Poverty Line (APL) prices
for the period July 2014 - March 2015, according to a press release by the CCEA.The Press Release states that the states
could continue to distribute the rice to the APL/BPL families during the slated period, or till the implementation of the
National Food Security Act (NFSA) by the respective States/UTs, whichever is earlier.

According to local sources, currently the APL prices are quoted at Rs.8 per kilogram (around $133 per ton) and BPL
prices are quoted at Rs.4 per kilogram (around $133 per ton).It also noted that the arrangement would help the public
combat inflation in food prices, particularly in states/UTs, which have not implemented the NFSA so far. However, there
are concerns that very depressed local prices may dampen incentives for farmers to grow rice, potentially leading to
production shortfalls next year. Also, this may encourage some unscrupulous traders to buy the cheap rice and sell it at
higher prices generating black money in the economy.
Indonesia Will Not Import Rice in 2014, Says Deputy Agriculture
Minister

Jul 02, 2014
Contrary to estimates by USDA, the UN's Food and Agriculture Organization (FAO) and industry experts, Indonesia's
Deputy Agriculture Minister said the Indonesian government will not import rice in 2014 as the expected output of around
69.8 million tons would be sufficient to meet the requisite demand, according to local sources.Indonesia's Central
Statistics Agency (BRS) yesterday estimated that 2014 paddy rice production would decline to around 69.8 million tons,
down about 2% from an estimated 71.28 million tons in 2013. However, the Minister told local sources that a decline in
production would not necessarily mean imports. "It does not mean that the decline in production (missing target) will
automatically trigger importation and the self sufficiency could not be achieved," he noted.
The Minister stated that Indonesia currently has around 1.6 million tons of rice in stocks with the national logistics agency
(Bulog), and the total supply would be suffice to meet the demand. However, Bloomberg reprots that Indonesia' Trade


Minister has instructed Bulog to prepare for rice importation due to an expectation of a decline in paddy production this
year. But Bulog President was quoted as saying that the State Food Company will continue to buy rice from local farmers
to strengthen its stockpiles and has not yet decided to import rice.Two weeks earlier, Reuters reported that industry
officials and analysts are expecting Indonesia to more than double its rice imports to around 1.5 million tons in 2014 from
an estimated 700,000 tons imported in 2013 ahead of a general election and El Nino.
The UN's Food and Agricultural Organization (FAO) has estimated Indonesia's 2014 milled rice imports at around 1.1
million tons, up about 60% from about 687,500 tons imported in 2013.USDA estimates Indonesia to produce around
37.355 million tons of rice, basis milled, and import around 1.5 million tons of rice in 2014. It estimates 2014 Indonesia's
rice imports to more than double from around 650,000 tons in 2013, while 2014 production is expected to increase by just
2% from 36.55 million tons in 2013. Consumption in 2014 is expected to increase by 1% to around 38.65 million tons
from 38.127 million tons in 2013.
Argentina Exports 212,051 Tons of Rice in January - April 2014; Up 33% from Previous
Year

Argentin
a has
exported
around
212,051
tons rice
in
January -
April
2014, up
about
33%
from
around
159,925
tons
exported
during
the same
period in
2013,
accordin
g to data


from the Ministry of Agriculture in Argentina. Argentina exported around 88,169 tons of rice in April 2014, up
about 74% from around 50,542 tons exported in March 2014; and about 92% from about 45,871 tons exported
in April 2013. Iraq and Brazil accounted for nearly 93% of Argentinas rice exports in April 2014.

Argentina exported around 61,249 tons of rice to Iraq (about 69% of total rice exports in April 2014) and
around 20,675 tons of rice to Brazil (about 23%). It also exported around 3,503 tons of rice to Bolivia (about
4%), around 890 tons to Chile (about 1%), and around 875 tons to Costa Rica (about 1%). Remaining 1% or
969 tons rice were exported to Canada, Denmark, Paraguay, Germany, New Zealand and the U.S.
Pakistan Rice Exports Decline 8% y/y to 2.9 Million Tons in July 2013 - May 2014;
Earnings Up 14% y/y

Pakist
an has
export
ed
aroun
d 2.9
millio
n tons
of rice
in the
first
eleven
month
s (July

May)
of the
curren
t
fiscal
year
2013-
14
(July -
June),


which is down about 8% from around 3.15 million tons of rice exported during the same period in FY 2012-13,
according to provisional data from the Pakistan Bureau of Statistics (PBS).Pakistans basmati rice exports in
July 2013 May 2014 stood at around 583,791 tons, down about 5% from around 613,857 tons exported during
the same period in the previous year. Pakistan's non-basmati rice exports in July 2013 May 2014 have also
declined to around 2.33 million tons, down about 8% from around 2.54 million tons exported during the same
period in the previous year.However, Pakistans rice exports are up in terms of value.

Pakistan has earned about $2 billion from total rice exports in July 2013 May 2014, up about 14% from
around $1.76 billion (using historical exchange rates) earned during the same period in FY 2012-13. Earnings
from basmati rice exports in July 2013 May 2014 stood at around $607 million, up about 1% from around
$601 million during the same period in the previous year, while non-basmati rice exports' earnings stood at
around $1.43 billion, up about 23% compared to around $1.16 billion (using historical exchange rates) in the
same period in FY 2012-13.

Indonesia 2014 Paddy Rice Production to Reach 69.8 Million Tons; Down 2% from
Last Year
Jul 02, 2014
Indonesia's 2014 paddy rice production is estimated to reach around 69.8 million tons, down about 2% from an
estimated 71.28 million tons in the previous year, according to the country's Central Statistics Agency (BRS).


The BRS attributes the fall in production to
decline in area harvested and yields. It estimates
2014 planting area at around 13.57 million
hectares, down about 2% from around 13.84
million hectares planted in 2013. Planting area in
the Jawa region is expected to decline to around
6.2 million hectares, down about 4% from around
6.47 million hectares planted last year. However,
planting area in the Lower Jawa region is
expected to increase marginally to around 7.37
million hectares from around 7.368 million
hectares last year.The Indonesian agency
estimates the average paddy yield in 2014 to
decline marginally to around 5.149 tons per
hectare from around 5.152 tons per hectare in the previous year.

The pace of the rice harvest in January - April 2014 is relatively lower than the pattern of harvest during the same period
last year. Around 6.17 million hectares of paddy rice area is harvested in the first four months of 2014, down about 1.6%
from around 6.27 million hectares harvested in 2013.

USDA estimates Indonesia to produce around 37.355 million tons of rice, basis milled, and import around 1.5 million tons
of rice in 2014. It estimates 2014 Indonesia's rice imports to more than double from around 650,000 tons in 2013, while
2014 production is expected to increase by just 2% from 36.55 million tons in 2013. Consumption in 2014 is expected to
increase by 1% to around 38.65 million tons from 38.127 million tons in 2013.

Oryza Global Rice Quotes
July 2nd, 2014
Long grain white rice - high quality
Thailand 100% B grade 425-435
Vietnam 5% broken 415-425
India 5% broken 430-440
Pakistan 5% broken 440-450


Cambodia 5% broken 440-450
U.S. 4% broken 570-580
Uruguay 5% broken 625-635
Argentina 5% broken 620-630

Long grain white rice - low quality
Thailand 25% broken NQ
Pakistan 25% broken 385-395
Cambodia 25% broken 410-420
India 25% broken 390-400
U.S. 15% broken 545-555

Long grain parboiled rice
Thailand parboiled 100% stxd 425-435
Pakistan parboiled 5% broken stxd 430-440
India parboiled 5% broken stxd 405-415
U.S. parboiled 4% broken 630-640
Brazil parboiled 5% broken NQ
Uruguay parboiled 5% broken NQ

Long grain fragrant rice
Thailand Hommali 92% 985-995
Vietnam Jasmine 575-585


India basmati 2% broken NQ
Pakistan basmati 2% broken NQ
Cambodia Phka Malis 845-855

Brokens
Thailand A1 Super NQ
Pakistan 100% broken stxd 325-335
Cambodia A1 Super 350-360
India 100% Broken stxd 315-325
Egypt medium grain brokens NQ
U.S. pet food 470-480
Brazil half grain NQ

Medium grain milled
U.S. Calrose 4% broken 1070-1080
Egypt medium grain 6% NQ
All prices USD per ton, FOB vessel, oryza.com
For Advertising SPECS & RATES
Contact: Advertising Department
Mujahid Ali
mujahid.riceplus@gmail.com
+92 321 369 2874

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