February 12, 2015

Daily Exclusive ORYZA Rice E-Newsletter

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Volume 5, Issue I
Daily Exclusive

ORYZA Rice
Newsletter

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Guyana Releases Two New Hybrid Rice

Varieties
Feb 11, 2015

Guyana's Ministry of Agriculture and the Guyana

Rice Development Board (GRDB) have released two
new hybrid rice varieties - GRDB 14 and Maria's
Delight aromatic rice - on February 11, 2015 at the
Guyana International Conference Center.Both the
varieties are developed at the Burma Rice Research
Station (BRRS) situated in Essequibo. While GRDB
14 is a high-yielding variety and is resistant to
lodging, Maria's Delight is the country's first aromatic
rice variety and is resistant to pests and disease attacks, according to the Chief Scientist and
Plant Breeder at the GRDB. They are developed by cross-breeding local rice varieties and are
aimed at boosting productivity of the country. Particularly the aromatic rice variety is capable of
yielding 45 bags per acre (around 113 bags per hectare) and has excellent milling and cooking
qualities apart from having a uniform expression of aroma, he said.
He told local sources that Guyana has been striving to develop more pest resistant rice varieties
and will continue to put more efforts in that direction. He added that BRRS and GRDB, through
development and marketing of newer rice varieties, would play a major role in Guyana's efforts
to find new export markets.Guyana's President, who launched the two new varieties, noted that
Guyana is currently a very small player in the international rice market and have to achieve a lot
more to prove their visibility in the market. He stressed that the future of local rice industry
would depend on their efficiency in developing more aromatic rice varieties and increasing
production. He assured that the government would provide requisite support for the continued
growth, development and prosperity of the rice industry.Guyana has exported around 501,208
tons of rice in 2014, up about 27% from around 394,000 tons exported in 2013, according to the
Agriculture Minister

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California Rice Sector to Hit by Port

Closures
Feb 11, 2015

Problems of dock workers and terminal

operators in the U.S. West Coast ports are
having a ripple effect in the economy.
Especially agriculture exports, including
those of rice, are being affected
significantly.Nearly 80% of the rice
grown in California is medium-grain rice
and is exported through the port of West
Sacramento and Oakland port to the
countries in the south Pacific. But strikes
and closures by the dock workers and
terminal operators due to some issues over
contract terms have been delaying the shipment of rice to destination countries causing severe
losses to the exporters.
Some exporters told local sources that many of their rice containers are having to wait at the
docks idly. For every one day their rice containers wait at docks, they need to pay extra fees,
they added. They expressed concerns that though authorities tried to settle the ongoing labor
disputes shortly, it is not certain when the operations would return to normal. Similar port
lockouts due to labor disputes occurred in 2002. They came to an end with the involvement of
the then U.S. President.
California rice sector had been impacted by drought last year. The state's paddy rice acreage in
2014 had declined to around 420,000 hectares, down about 25% from around 525,000 hectares
planted in 2013 due to prolonged dry conditions and water shortages. California is the second
largest rice producing state in the U.S. after Arkansas, and contributes to around 2 million tons of
paddy rice annually or about 25% of the total rice grown in the U.S. The state's rice sector
employs about 25,000 people and most of rice grown here is exported.Currently, export prices of
the U.S. medium grain rice stand at around $905 per ton, down about 1% from around $915 per
ton in the beginning of this year.

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Brazil Exports 69,913 Tons of Rice in

January 2015
Feb 11, 2015

Brazil
has
exported
around 69,913 tons of rice
in the first month of 2015,
according to data released
by the Rice Institute of
Rio Grande do Sul
(IRGA). Cuba remained
the largest importer of
Brazilian rice in January
2015 with around 36,967
tons, or about 53% of
Brazil's total rice exports
during
the
month.
Switzerland accounted for
around 16,471 tons (about
24% of Brazil's total exports during the month); Bolivia accounted for around 7,927 tons (about
11% of Brazil's total exports during the month); Trinidad Tobago accounted for 1,836 tons
(about 3% of Brazil's total exports during the month); and the U.S. and Chile accounted for 2%
and 1% of Brazils total rice exports during January 2015 with 1,491 tons and 1,001 tons
respectively.
Angola, Panama, Belgium, Saudi Arabia, Cape Verde, Namibia, Barbados, Uruguay, Antigua
and Barbuda, Guinea, Netherlands Antilles, Lithuania. Bahamas, Portugal and Paraguay
accounted for the remaining 6% or around 4,220 tons of Brazil's total rice exports in January
2015.Brazil exported around 1.24 million tons of rice in 2014, up about 2.4% from around 1.209
million tons exported in 2013, according to data from IRGA.

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Iran May Lift Ban on Rice Imports in March

2015, Say India Commerce Ministry Officials
Feb 11, 2015

Iran, which imposed a temporary ban on rice imports in November 2014 citing excess stocks as
reason, is likely to lift the ban in March this year, local sources quoted the officials from
Indian Commerce Ministry as saying.As Iran is an important destination for India's basmati rice
exports accounting to over 30% of India's total basmati rice exports, Indian exporters as well as
the government have been trying to negotiate with Iran over resuming the basmati rice imports.
A team of Ministry officials who visited Iran recently told local sources that Iranian authorities
have assured them that the ban on rice imports would be lifted shortly as the supply glut in their
domestic market has eased substantially.
Iranian officials have indicated that they will resume the
process of re-registration of Basmati suppliers. The
country is supposed to come up with its notification (on
lifting curbs) on March 21," a Commerce Ministry
official was quoted as saying.However, Ministry sources
noted that the volume of basmati imports to Iran may not
be as high as before as the Middle East nation is still
carrying a good amount of stocks. The Ministry is
expecting that Iran would import around 800,000 to one million tons in 2014-15. India exported
around 1.44 million tons to Iran in FY 2013-14 (April - March), up about 33% from around 1.08
million tons exported in FY 2012-13, according to data from Agricultural and Processed Food
Products Export Development Authority (APEDA).
India exported around 3.76 million tons of basmati rice in FY 2013-14, up about 9% from around
3.46 million tons exported in FY 2012-13. India exported a total of 10.78 million tons of rice
(including basmati and non-basmati) in FY 2013-14, up about 6% from about 10.15 million tons
exported last year.

Thailand, Pakistan Rice Sellers Lower Their

Quotes Today; Other Asia Rice Quotes
Unchanged
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Feb 11, 2015

Thailand rice sellers lowered their quotes for Hommali rice by about $5 per ton to around $920 $930 per ton today. Pakistan rice sellers lowered most their quotes by about $5 - $15 per ton.
Vietnam and India rice sellers kept their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is quoted at around $405 - $415 per ton, about $55 per ton premium on
Vietnam 5% rice shown at around $350 - $360 per ton. India 5% rice is quoted at around $395 $405 per ton, about $50 per ton premium on Pakistan 5% rice quoted at around $345 - $355 per
ton.
25% Broken Rice
Thailand 25% rice is quoted at around $365 - $375 per ton, about $40 per ton premium on
Vietnam 25% rice shown at around $325- $335 per ton. India 25% rice is quoted at around $360
- $370, about $55 per ton premium on Pakistan 25% rice quoted at around $305 - $315 per ton,
down about $5 per ton from yesterday.
Parboiled Rice
Thailand parboiled rice is quoted at around $405 - $415 per ton. India parboiled rice is quoted at
around $390 - $400 per ton, about $5 per ton premium on Pakistan parboiled rice quoted at
around $385 - $395 per ton, down about $10 per ton from yesterday.
100% Broken Rice
Thailand broken rice, A1 Super, is quoted at around $320 - $330 per ton, about $15 per ton
premium on Vietnam 100% broken rice shown at around $305 - $315 per ton.
India's 100% broken rice is shown at around $295 - $305 per ton, about $20 per ton premium on
Pakistan broken sortexed rice quoted at around $275 - $285 per ton, down about $15 per ton
from yesterday.

Oryza Overnight Recap Chicago Rough

Rice Futures Look to Recover Following two
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Sessions of Steep Losses and as Traders

Digest Yesterdays S&D Update
Feb 11, 2015

Chicago rough rice futures for Mar delivery are currently listed 7.5 cents per cwt (about $2 per
ton) higher at $10.310 per cwt (about $227 per ton) during early floor trading in Chicago. The
other grains are seen trading mostly higher: soybeans are currently seen about 0.5% higher,
wheat is listed about 0.3% higher and corn is currently noted about 0.2% lower.U.S. stock traded
mixed on Wednesday as investors focused on developments in Greece's negotiations with the
euro zone finance ministers.
Blue chips and the S&P 500 traded moderately lower. All eyes will be on the outcome of the
Eurogroup meeting that begins at 11:30 a.m. ET. Greek Finance Minister Yanis Varoufakis is
expected to ask for a "bridge program" to cover the government's funding needs while a new
debt pact is agreed. European equities traded lower ahead of the Eurogroup meeting of finance
ministers. Little economic data is expected aside from the release of the monthly Federal Budget
statement at 2:00 p.m. ET.
With slightly higher interest rates, weekly mortgage applications were down 9% on a seasonally
adjusted basis, the Mortgage Bankers Association said. The Dow Jones Industrial Average traded
down 63 points, or 0.36%, at 17,807. The S&P 500 traded down 3 points, or 0.14%, at 2,065,
with utilities the greatest of seven laggards and consumer staples leading advancers. The Nasdaq
gained 6 points, or 0.13%, at 4,793. Gold is currently trading about 0.7% lower, crude oil is seen
trading about 2.6% lower, and the U.S. dollar is currently trading about 0.3% higher at 8:30am
Chicago time.

Uganda to Receive Korean Support to Boost

Upland Rice Production
Feb 11, 2015

The Korean Rural Community Corporation (KRCC) will guide the Ugandan government to
increase rice production in upland rice areas as well as effectively make use of the modern
farming technologies, according to local sources. The President of the KRCC who visited
Uganda met with a team of officials from the Agriculture Ministry led by the Agriculture
Minister and decided on the plan of action.
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Uganda's Agriculture Minister noted that the two sides
identified certain upland regions such as Pallisa, Kibuku
and R.Mpologoma where rice production could be
enhanced. He also noted that the two sides have agreed
on new areas of cooperation, including the introduction
of information communication and technology (ICT)
tools in rice production. The Agriculture Minister also
stated that Korea has agreed to support Uganda in
coordinating roundtable meetings in East Africa, which are aimed at framing strategies for rural
development.
Uganda produces only 65% of the rice needed for its annual consumption and imports the rest.
Like other African countries, Uganda is also aiming to increase local rice production and reduce
imports. USDA estimates Uganda to produce around 150,000 tons of milled rice and import
around 120,000 tons in MY 2014-15 (May - April) to meet a consumption demand of around
230,000 tons.

ABARES Forecasts Australia 2014-15 Paddy

Rice Production at 684,000 Tons, Down 18%
from Last Year
Feb 11, 2015

Australia's paddy rice production in MY

2014-15 (April 2014 - March 2015) is
estimated to decline to around 684,000
tons (around 492,000, basis milled),
down about 18% from an estimated
833,000 million tons (around 600,000
tons, basis milled) in MY 2013-14,
according to data from the Australian
Bureau of Agricultural and Resource
Economics and Sciences (ABARES).In
its February crop outlook report, the
ABARES attributes the decline in paddy
rice production to a decline in planting area during the marketing year reflecting reduced
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supplies of irrigation water in the main rice producing region of New South Wales. It also
expects the yields to return to normal from the above average yields last year.
2014-15 paddy rice planting area is expected to decline about 6.5% to around to 71,000 hectares
from an estimated 76,000 hectares in the previous year. It estimates the country's paddy rice
yield to decline about 12% to around 9.63 tons per hectare from around 10.96 tons per hectare
last year.About 99% of paddy rice is produced in New South Wales. In its February crop outlook
report, the ABARES estimated the paddy rice production in the region at around 680,000 tons
(around 490,000 tons, basis milled) from around 70,000 hectares of planted area. The region is
expected to produce a yield of about 9.71 tons per hectare during the marketing year.
Australia mostly grows short/medium rice varieties that are suited to its dry temperate microclimate. Some of the popular rice varieties grown in Australia include Amaroo, Reiziq, Quest,
Jarrah, Koshihikari, Opus, Illabong, Langi, Doongara and Kyeema. According to ABARES, all
cropping areas of Australia received average rainfall from November 1, 2014 to January 31,
2015. However, the Bureau of Meteorology forecasts a slightly warmer temperatures from
February 1 - April 30, 2015.
USDA estimates Australian paddy rice production to decline to around 700,000 tons (around
504,000 tons of rice, basis milled) in MY 2014-15 (April - March), down about 15% from an
estimated 833,000 tons of paddy rice (around 600,000 tons of rice, basis milled) produced last
year. It estimates Australia to produce a yield of 10 tons per hectare during the marketing year,
down about 9% from around 10.96 tons per hectare produced last year.

Global Rice Quotes

February 11th, 2015
Long grain white rice - high quality
Thailand 100% B grade 415-425

Vietnam 5% broken

350-360

India 5% broken

395-405

Pakistan 5% broken

345-355

Myanmar 5% broken

410-420

Cambodia 5% broken

430-440

U.S. 4% broken

480-490

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Uruguay 5% broken

NQ

Argentina 5% broken

NQ

Long grain white rice - low quality

Thailand 25% broken

365-375

Vietnam 25% broken

325-335

Pakistan 25% broken

305-315

Cambodia 25% broken 410-420

India 25% broken

360-370

U.S. 15% broken

470-480

Long grain parboiled rice

Thailand parboiled 100% stxd

405-415

Pakistan parboiled 5% broken stxd

India parboiled 5% broken stxd 390-400

U.S. parboiled 4% broken

555-565

Brazil parboiled 5% broken

570-580

Uruguay parboiled 5% broken NQ

385-395

Long grain fragrant rice

Thailand Hommali 92%
Vietnam Jasmine

920-930
445-455

India basmati 2% broken

NQ

Pakistan basmati 2% broken

NQ

Cambodia Phka Mails 785-795

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Brokens
320-330

Vietnam 100% broken 305-315

Thailand A1 Super

Pakistan 100% broken stxd

Cambodia A1 Super

275-285

365-375

India 100% broken stxd

295-305

Egypt medium grain brokens

NQ

U.S. pet food

380-390

Brazil half grain

NQ

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

Oryza Afternoon Recap - Chicago Rough

Rice Futures Bounce Higher as Market
Attempts to Establish Price Floor; Grains
Recover Despite Continued Weakness in
Crude
Feb 11, 2015

Chicago rough rice futures for Mar delivery settled 14.5 cents per cwt (about $3 per ton) higher
at $10.380 per cwt (about $229 per ton). Rough rice futures bounced higher today as the market
continues to attempt put in a firm bottom before a true recovery can get underway. Market
participants appear to be taking a wait and see attitude when it comes to increasing buy orders in
a meaningful way. The recent pattern of back-and-forth trading is indicative of a market that is in
the process of forming a low and indicates that a recovery to the upside should soon follow. The
other grains finished the day mostly higher as the market looked to shake off losses sustained
yesterday in the wake of the release of the USDAs S&D update; Soybeans closed about 0.9%
higher at $9.7775 per bushel; wheat finished about 0.8% higher at $5.2575 per bushel, and corn
finished the day about 0.6% lower at $3.8575 per bushel.
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U.S. stocks traded mostly lower on Wednesday as investors focused on developments in Greece's
negotiations with the euro zone finance ministers. The Dow Jones Industrial Average fell more
than 100 points before recovering to trade about 80 points lower in early afternoon trade in the
absence of official announcements out of the Eurogroup meeting. Greek and European officials
in Brussels discussed on Wednesday what could constitute a bridge agreement'' for Greece once
its bailout expires on Feb. 28, a Greek government official told Reuters. The meeting took place
"in a very good climate'', the official added.
The Eurogroup meeting will likely be just part of the continuing negotiations as euro zone and
Greek leaders have several scheduled discussions over the next few days. The Dow Jones
Industrial Average traded down 100 points, or 0.57%, to 17,766. The S&P 500 traded down 8
points, or 0.37%, to 2,061, with utilities leading declines and information technology and
consumer staples the only advancing sectors. The Nasdaq traded down 1 point, or 0.03%, to
4,786. Gold is trading about 1.1% lower, crude oil is seen trading about 2.2% lower, and the U.S.
dollar is seen trading about 0.3% higher at about 1:00pm Chicago time.Tuesday, there were
2,340 contracts traded, up from 795 contracts traded on Monday. Open interest the number of
contracts outstanding on Tuesday decreased by 103 contracts to 10,443.

Vietnam's Dong Thap Province Proposes to

Adopt Paddy Stockpiling Policy
Feb 11, 2015

The Dong Thap provincial government in Vietnam's Mekong

Delta region has proposed to the Central government that it
would adopt paddy stockpiling policy to curb price falls during
the harvest time of the winter-spring crop, according to
Bloomberg.The provincial government plans to buy around
350,000 tons of rice from now to March 15 and stockpile it for
four months to protect prices from falling. Paddy prices are
understood to have declined since the beginning of February. However, the price at which it is
planning to procure paddy is not known.
The province harvested only 35% of the winter-spring crop and the output from the harvest is
likely to peak in March 2015.Vietnam government introduced the paddy stockpiling policy last
year and encouraged traders and millers to buy paddy from farmers and stockpile it but it could
not effectively control price falls as many traders and millers were not ready to procure paddy
due to storage problems.
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