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Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.
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News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874

17
th
July , 2014

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Latest News Headlines
Brazil Conab Lowers 2013-14 Paddy Rice Production
Forecast to 12.18 Million Tons, Slightly Down m/m and Up
3% y/y
Oryza Afternoon Recap - Chicago Rough Rice Futures
Turn Positive as Soy and Corn Look to Recover Following
Recent Sell-off
Oryza U.S. Rough Rice Recap - Market Plays Who
Will Blink First as Supplies Tighten
Oryza Rice Currency Analysis for Today Mexico
Peso Up 0.3%; Euro Down 0.3%
South Korea Passes on Tenders to Buy 30,119 Tons of
Chinese and Australian Milled Rice
Oryza Global Rice Quotes
South Korea to Declare Stance on Rice Imports
Liberalization Next Week
Vietnam Rice Quotes Mixed Today; Other Asia Rice
Quotes Unchanged
India Removes Import Duty on Rice Bran to Encourage Local Oil Processing Sector
Thai Board of Trade Proposes 5 Rice Strategies at $621 million a Year
USDA Forecasts 2015 Global Milled Rice Trade at Record 41.5 million Tons; Up 2% from 2014

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Brazil Conab Lowers 2013-14 Paddy Rice Production Forecast to 12.18 Million
Tons, Slightly Down m/m and Up 3% y/y
Brazils National Grains Supply Company (Conab) has lowered its paddy rice production forecast for 2013-14 to
around 12.18 million tons, slightly down from its previous estimate of around 12.25 million tons, and up about 3%
from about 11.82 million tons produced in 2012-13.In its July 2014 estimates, Conab has lowered its estimates for
2013-14 rice acreage to around 2.396 million hectares, slightly down from previous estimates of around 2.404
million hectares, and slightly down from around 2.399 million hectares in 2012-13.


Rice acreage in the key rice growing Centro-Sul (Center-South) region is projected at 1.578 million hectares in
2013-14, slightly down from previous estimates of around 1.585 million hectares, and up about 4% from around
1.520 million hectares in 2012-13. However, rice acreage in the North and Northeast regions is expected to decline
to about 817,700 hectares, slightly down from previous estimates of around 819,300 hectares, and down about 7%
from around 880,100 hectares in 2012-13.Average rice yield in Brazil in 2013-14 is projected at around 5.085 tons
per hectare, slightly down from previous estimates of around 5.096 tons per hectare, and up about 3% from around
4.93 tons per hectare recorded in the previous year, according to Conab.
Oryza Afternoon Recap - Chicago Rough Rice Futures Turn Positive as Soy
and Corn Look to Recover Following Recent Sell-off
Jul 16, 2014
Chicago rough rice futures for Sep delivery settled 12 cents per cwt (about $3 per ton) higher at $12.990 per cwt
(about $286 per ton). Rough rice futures turned higher today, following two consecutive sessions of steep losses
earlier this week. The market has become oversold and although the trend remains lower, many technical
traders will look for a filling of the gap created by Mondays session opening over 25 cents per cwt (about $6
per ton) below Fridays settlement price. Additional support was provided from firmer grains as the complex as
a whole attempts to recover from losses sustained from last weeks USDA S&D update. The other grains were
led higher by a rally in the soy complex; soybeans closed about 1.5% higher at $11.0200 per bushel; wheat
finished about 0.1% higher at $5.3800 per bushel, and corn finished the day about 1.3% higher at $3.8775 per
bushel.
U.S. stocks climbed on Wednesday, again lifting the Dow industrials into uncharted terrain, with investor
sentiment lifted by corporate earnings, deals and better-than-expected data on growth in China. After a 78-point
jump to an intraday record 17,138.81, the Dow Jones Industrial Average was lately at 17,137.27, up 76.59
points, or 0.5%. The S&P 500 advanced 7.93, or 0.4%, to 1,981.21, with technology and energy pacing gains
and health care and financials the largest laggards among its 10 major sectors. The Nasdaq rose 18.39 points, or
0.4 percent, to 4,434.78. On Capitol Hill, U.S. Federal Reserve Chair Janet Yellen concluded a second day of
congressional testimony, where she faced a barrage of questions from Republican lawmakers about legislation
to make the Fed more accountable. Gold is trading about 0.2% higher, crude oil is seen trading about 1.2%
higher, and the U.S. dollar is seen trading about 0.2% higher about 12:00pm Chicago time.
Tuesday, there were 822 contracts traded, up from 537 contracts traded on Monday. Open interest the number
of contracts outstanding on Tuesday increased by 136 contracts to 8,612.
Oryza U.S. Rough Rice Recap - Market Plays Who Will Blink First as
Supplies Tighten
Jul 16, 2014


The U.S. cash market was silent today as both buyers and sellers are waiting for the other to blink as old crop
supplies tighten and as less expensive new crop approaches on the horizon.
As of today, old crop offers decreased to around $15.00 per cwt fob farm (about $331 per ton) for July shipment
while others still have their sights set on $16.00 per cwt fob farm (about $355 per ton).
Bids from exporters fell to around $14.25 per cwt (about $314 per ton) for July-August delivery while some
smaller mills are still said to have interest around $15.90 per cwt (about $351 ton) for the same delivery period
which is said to be getting the attention of some sellers.

Oryza Rice Currency Analysis for Today Mexico Peso Up 0.3%; Euro Down
0.3%
Jul 16, 2014
dollar index was stronger +0.20% from the open today, when it traded at 80.552 at the close.
Euro was weaker -0.33% by the close, trading around 1.3523 by end of day, after trading between an intraday
high of 1.3573 and low of 1.3521.
Thai baht was stronger +0.09%, trading at 32.110 at the close of business.
Indian rupee was unchanged at 60.1350.
Brazilian real was weaker -0.12% at 2.2218 reais per dollar.
Pakistan rupee was -0.11% weaker at 98.7768.
Vietnamese dong was stronger +0.01% at 21198.
Mexican peso was stronger +0.29% today, when it traded at 12.9090 pesos per dollar by the close of business.
Chinese yuan was stronger +0.05% at 6.2049.
Argentine peso was weaker -0.03% at 8.1539 pesos per dollar.


South Korea Passes on Tenders to Buy 30,119 Tons of Chinese and Australian
Milled Rice
Jul 16, 2014
South Korea's state run Agro-Fisheries & Food Trade Corporation (KAFTC) has today passed on four tenders
issued on July 8, 2014 to purchase a total of around 30,119 tons of milled short- and medium-grain rice of
Chinese and Australian origins between October 31 and December 31, 2014, due to high prices, according to a
notice on its website.In the July 8 tenders, the KAFTC sought to buy around 13,985 tons of milled short-grain
rice of Chinese origin for delivery by October 31, 2014; around 10,739 tons of milled short-grain rice of
Chinese origin for delivery by November 30, 2014; around 2,698 tons of milled medium-grain rice of
Australian origin for delivery by December 31, 2014; and around 2,697 tons of milled medium-grain rice of
Australian origin for delivery by December 31, 2014.

Oryza Global Rice Quotes
July 16th, 2014
Long grain white rice - high quality
Thailand 100% B grade 435-445
Vietnam 5% broken 430-440
India 5% broken 435-445
Pakistan 5% broken 435-445
Cambodia 5% broken 440-450
U.S. 4% broken 550-560
Uruguay 5% broken 625-635
Argentina 5% broken 620-630

Long grain white rice - low quality


Thailand 25% broken NQ
Pakistan 25% broken 380-390
Cambodia 25% broken 410-420
India 25% broken 390-400
U.S. 15% broken 530-540
Long grain parboiled rice
Thailand parboiled 100% stxd 440-450
Pakistan parboiled 5% broken stxd 435-445
India parboiled 5% broken stxd 420-430
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 585-595
India basmati 2% broken NQ
Pakistan basmati 2% broken NQ
Cambodia Phka Malis 845-855
Brokens
Thailand A1 Super NQ
Pakistan 100% broken stxd 335-345
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
All prices USD per ton, FOB vessel, oryza.com
South Korea to Declare Stance on Rice Imports Liberalization Next
Week
Jul 16, 2014
South Korea government is likely to declare its stance on opening its rice market on July 25, 2014, according to
local sources.The government will decide in the economic ministerial meeting on July 25 whether it would
continue with the WTO quotas or would liberalize the rice sector imposing high tariffs. Local sources say the
meeting would be mainly focussed on right amount of tariffs, or doubling the import quota under the minimum
market access (MMA) from the current 409,000 tons - if they decide to continue WTO quotas.The government
is understood to be leaning towards opening the rice import market and imposing tariffs at around 400% to
discourage foreign rice in the country and thereby protect the local rice farmers. The country is also reeling
under increased rice supplies from local production as well as compulsory imports under WTO regulation,
while the local rice consumption is declining. If the government decides to continue with the WTO quotas, it
may have to pay a price in terms of cutting down its own production, which would be a negative consequence to
local rice farmers.
Last week, The World Trade Organization (WTO) Chief made it clear that WTO rules do not allow any country
to seek a waiver for second time under Annex 5 of the Agreement on Agriculture, but if the country insists over
that, it has to negotiate with other member states regarding their demands on tariffication and other
compensation. South Korea already sought a ten-year extension of WTO quotas in 2004, when its first ten-year
agreement lapsed.
USDA estimates South Korea to import around 410,000 tons of rice in MY 2013-14 (November 2013 -
October 2014), down about 20% from 510,000 tons imported in MY 2012-13. Rice production in 2013-14 is
expected to reach around 4.2 million tons of rice in MY 2013-14, and its annual rice consumption is estimated
at about 4.6 million tons.
Vietnam Rice Quotes Mixed Today; Other Asia Rice Quotes
Unchanged


Jul 16, 2014
Vietnam rice sellers increased their quotes for 5% broken rice and 25% broken rice by about $5 per ton and
$10 per ton respectively to around $430 - $440 per ton and $385 - $395 per ton respectively and lowered their
quotes for 100% broken rice by about $5 per ton to around $335 - $345 per ton today. Other Asia rice sellers
kept their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice (of new crop) is quoted at around $420 - $430 per ton, about $10 per ton discount to Vietnam
5% rice (of new crop) quoted at around $430 - $440 per ton, up about $5 per ton from yesterday. India 5% rice
is quoted at around $435 - $445 per ton, on par with Pakistan 5% rice quoted at around $435 - $445 per ton.
25% Broken Rice
Thailand 25% rice (of the old crop) was last quoted at around $350 - $360 per ton, about $35 per ton discount to
Vietnam 25% rice (of new crop) quoted at around $385 - $395 per ton, up about $10 per ton from yesterday.
India 25% rice is quoted at around $390 - $400 per ton, about $10 per ton premium on Pakistan 25% quoted at
around $380 - $390 per ton.
Parboiled Rice
Thailand parboiled rice (of the old crop) is quoted at around $440 - $450 per ton. India parboiled rice is quoted
at around $420 - $430 per ton, about $15 per ton discount to Pakistan parboiled rice quoted at around $435 -
$445 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, (of the old crop) was last quoted at around $310 - $320 per ton, about $25 per
ton discount to Vietnam broken rice (of new crop) quoted at around $335 - $345 per ton, down about $5 per ton
from yesterday. India broken sortexed rice is quoted at around $315 - $325 per ton, about $20 per ton discount
to Pakistan broken sortexed rice quoted at around $335 - $345 per ton.
Tags: Vietnam rice prices, Thailand rice prices, India rice prices, pakistan rice prices

India Removes Import Duty on Rice Bran to Encourage Local Oil
Processing Sector


Jul 16, 2014

The Indian government has exempted rice bran from import duty, which was earlier 15%, in the
recently announced Union Budget for 2014-15 to help domestic edible oil processing sector, which
has a capacity of producing around 1.4 million tons of rice bran oil annually. India is the world's
largest producer of rice bran oil currently producing about 900,000 tons of rice bran oil annually,
accounting for about 75% of total global production of about 1.2 million tons.India, world's second
largest producer of rice, produces around 9 million tons of rice bran every year, but only 5 million
tons of it is used to extract edible oil and the remaining is used by the vanaspati segment or as cattle
feed. The edible oil sector usually imports rice bran from neighboring Bangladesh, Myanmar and Sri
Lanka and the import duty of 15% discouraged from importing huge quantities of rice bran, says the
Executive Director (ED) of the Solvent Extractors Association (SEA) in India.Rice bran oil, which is
rich in mono-unsaturated fatty acids and has a higher cholesterol reducing power, is gaining
significance in India recently. It is said to be better than other poly-unsaturated fatty acid PUFA) rich oils.Earlier, the SEA
ED had noted that if the production of rice bran is increased to its capacity level, India could reduce its import bill of
around Rs.600 billion (around $9.6 billion) on importing edible oils such as palm oil, soybean oil an sunflower
oil.Yesterday, there were reports that Bangladesh is planning to ban rice bran exports temporarily to support local edible
oil industry
Thai Board of Trade Proposes 5 Rice Strategies at $621 million a Year
Five rice strategies at Bt20 billion ($621 million) a year for one-tenth cost of the pledging schemes! The Board
of Trade of Thailand (BoT) promised all this and more as part of its initiative to develop a sustainable rice
industry to the National Council for Peace and Order (NCPO).The strategies are: Promoting self-sufficiency;
adopting modern farming technology; encouraging alternative economic crops for rice; focussing on deed
quality; facilitate private enterprises to trade rice without the states no intervention by the government.The
board also suggested encouraging rice farmers to integrate their plantations to reduce costs, setting up a fund to
help rice farmers for the long term.
USDA Forecasts 2015 Global Milled Rice Trade at Record 41.5 million Tons;
Up 2% from 2014
Jul 16, 2014


USDA has forecasted 2015 global milled rice trade at around 41.5 million tons, up about 2% from an estimated
40.7 million tons in 2014 in its July Rice Outlook report.It attributes the increase in trade to record imports by
Sub-Saharan Africa and China, slightly lower global trading prices and abundant exportable supplies in Asia
and the Western Hemisphere countries.On the export side, USDA estimates Thailand to replace India as world's
largest rice exporter with exports of around 10 million tons, up about 11% from an estimated 9 million tons in
2014 due to n more competitive prices and abundant supplies. It estimates Vietnam to export around 6.7 million
tons in 2015, up about 3% from an estimated 6.5 million tons in 2014.However, USDA expects India's exports
to decline to around 9 million tons, down about 10% from around 10 million tons in 2014 because of tighter
supplies and higher domestic use.On the import side, USDA estimates China to remain top rice importer in
2015 with around 3.7 million tons, up about 16% from an estimated 3.2 million tons imported in 2014 due to
high domestic prices, slow production growth, and increasing consumption. Nigeria is expected to import
around 3.5 million tons in 2015, up about 17% from an estimated 3 million tons in 2014. It also expects imports
of the Philippines to increase to around 1.6 million tons in 2015, up about 10% from an estimated 1.45 million
tons in 2014. The US agency estimates Indonesia's imports to decline to around 1 million tons, down about 33%
from an estimated 1.5 million tons in 2014.

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