April 10, 2015

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Volume 5, Issue I
Daily Exclusive

ORYZA Rice
Newsletter

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Italy Lacks Requisite Laws to Reward

Research and Development in Rice Seeds
Sector
Apr 09, 2015

Italy does not have adequate laws to recognize and reward research and development in the
country's rice seed sector, according to local sources.Currently, the government does not provide
any kind of support to any kind of research undertaken by the rice breeding companies. It also
does not have provisions to help rice breeding companies claim the research expenses from the
government. Rice breeders are asked to claim their research expenses from the rice seed sales.
Therefore breeders are forced to increase prices of rice seeds.Local sources say other member
states of the European Union (EU) have provisions to separate the research costs from the rice
seed sales. Italian breeders say they expect the Italian government to enact some relevant laws in
this direction.
Separately, according to the Italian website www.risoitaliano.eu. reported that the European
Patent Office (EPO) has recently ruled in case of broccoli and tomato that hybrid seeds are
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eligible to get industrial patents as per the European Patent Convention. The rule also allows
breeders to use patented varieties for further research. An official from Assosementi, the national
association of seed breeders noted that this rule can also be applied to hybrid rice seeds research.
They say farmers are allowed to use their own farm saved seed (FSS) but cannot freely exchange
seeds among themselves. Farmers using FSS are required to pay royalties to the rice breeder or
the owner.

Asia Rice Quotes Unchanged Today

Apr 09, 2015

Asia rice sellers kept their quotes mostly unchanged today.

5% Broken Rice
Thailand 5% rice is indicated at around $385 - $395 per ton, about a $25 per ton premium on
Vietnam 5% rice shown at around $360 - $370 per ton. India 5% rice is indicated at around $375
- $385 per ton, about a $15 per ton premium on Pakistan 5% rice shown at around $360 - $370
per ton.
25% Broken Rice
Thailand 25% rice is shown at around $355 - $365 per ton, about a $15 per ton premium on
Vietnam 25% rice shown at around $340- $350 per ton. India 25% rice is indicated at around
$345 - $355, about a $10 per ton premium on Pakistan 25% rice shown at around $335 - $345
per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $385 - $395 per ton. India parboiled rice is
indicated at around $360 - $370 per ton, about a $35 per ton discount to Pakistan parboiled rice
shown at around $395 - $405 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $320 - $330 per ton, about a $10 per ton
premium on Vietnam 100% broken rice shown at around $310 - $320 per ton.

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India's 100% broken rice is shown at around $275 - $285 per ton, about a $10 per ton discount
to Pakistan broken sortexed rice shown at around $285 - $295 per ton.

Government of India Fixes Time Frame to

Receive Custom Milled Rice to Central Pool
Apr 09, 2015

The government of India has decided to fix time frame for states to supply custom milled rice
(CMR) procured by them to the central pool in order to avoid delays in supply of committed rice
quantities to the pool, according to local sources.According to a recent Food Ministry directive
to states, the government has directed single-crop states (which grow only kharif) to supply
CMR to the Food Corporation of India (FCI) storage centers by June 30 in a particular crop year,
and double-crop states (which grow both kharif and rabi) to supply CMR to the FCI by
September 30 in that crop year.
The directive also stated that if states failed to meet the new norm, the FCI would delete CMR
stocks received after the cut-off date from the Central Pool. In such a case, states are required to
find other means to dispose the rice held by them as CMR is usually collected only after meeting

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the state's own public distribution system (PDS) requirements. All states except Chhattisgarh and
Odisha, grow only one crop per year and have to supply rice by June 30.
"There are delays in getting CMR rice into central pool as millers often divert the rice derived
from paddy supplied by state government-owned agencies to open market or exports," a food
ministry official was quoted as saying. "The rationale behind fixing time frame for getting CMR
to central pool is to ensure there are actual grain stocks with us, not phantom stocks, he
added.However, the Chief Ministers of some states are reportedly not comfortable with the new
norm.
Under the CMR system, government agencies procure paddy from farmers and then get it
custom milled from rice millers by paying tolling charges.Indias rice stocks in the central pool
as of April 1, 2015 stood at around 23.62 million tons (including a milled equivalent of about
10.04 million tons of paddy), down about 22% from around 30.25 million tons recorded during
the same period last year, according to data from the Food Corporation of India (FCI).

Oryza Afternoon Recap - Chicago Rough

Rice Futures Continue to Tumble on Lack of
Demand and Expectations of Large New
Crop Supplies
Apr 07, 2015

Chicago rough rice futures for May delivery settled 14.5 cents per cwt (about $3 per ton) lower
at $10.680 per cwt (about $235 per ton). The other grains finished the day lower as well;
Soybeans closed about 0.8% lower at $9.7100 per bushel; wheat finished about 0.3% lower at
$5.2600 per bushel, and corn finished the day about 0.5% lower at $3.8300 per bushel.U.S.
stocks traded higher on Tuesday as investors eyed oil price movements and renewed dollar
strength ahead of the unofficial beginning of earnings season on Wednesday. The Job Openings
and Labor Turnover Survey (JOLTS) showed 5.1 million job openings on the last business day
of February, the highest since January 2001 but little changed from the prior month, the U.S.
Bureau of Labor Statistics reported on Tuesday.
The number of quits and hires declined slightly but were similar to January figures. The monthly
non-farm payrolls report for March significantly missed expectations on Friday, but traders
mostly digested the data as partly seasonal and as another weak indicator that could delay an
interest rate hike. The only other economic report due is consumer credit at 3:00 p.m. Stocks
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have remained in a range, with the S&P 500 roughly between 2,051 and 2,100. The Dow Jones
Industrial Average traded up 94 points, or 0.53%, at 17,974. The S&P 500 traded up 7 points, or
0.33%, at 2,087, with healthcare leading eight sectors higher and utilities and
telecommunications the only laggards.
The Nasdaq traded up 24 points, or 0.48%, at 4,941. Gold is trading about 0.7% lower, crude oil
is seen trading about 2.1% higher, and the U.S. dollar is seen trading about 1% higher at
about 1:00pm Chicago time.Monday, there were 228 contracts traded, down from 560 contracts
traded on Thursday. Open interest the number of contracts outstanding on Monday increased
by 32 contracts to 9,511.

India Rice Stocks in Central Pool Stand at

23.62 Million Tons as of April 1, 2015; Down
22% from Last Year
Apr 09, 2015

Indias rice stocks in the central pool as of April 1, 2015 stood at around 23.62 million tons
(including a milled equivalent of about 10.04 million tons of paddy), down about 22% from
around 30.25 million tons recorded during the same period last year, according to data from the
Food Corporation of India (FCI).

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Month-over-month, India's rice stocks in the central pool are slightly down from around 23.79
million tons recorded on March 1, 2014. However, current rice stocks are about 94% more than
the required buffer and strategic reserve norms of around 12.2 million tons for this time of the
year, according to the FCI.Total food grain stocks (including rice and wheat) in the central pool
stand at around 41.143 million tons as of April 1, 2014, down about 16% from last year's stock
of around 49.217 million tons and down about 6% from last month's stock of around 43.618
million tons.
Wheat stocks stand at around 17.221 million tons, down about 3% from last year's stock of
around 17.834 million tons and down about 12% from last month's stock of around 19.525
million tons.The government of India had revised the buffer norms for food grains, including
rice, in the Central Pool in January this year. According to the new norms, buffer stocks for food
grains to be maintained with the FCI at this part of the year is 21.04 million tons. Current norms
are 21.2 million tons.

Oryza Overnight Recap Chicago Rough

Rice Futures Unchanged Overnight as all
Eyes Turn to USDA S&D Update
Apr 09, 2015

Chicago rough rice futures for May delivery are currently seen unchanged at $10.575 per cwt
(about $233 per ton) ahead of floor trading in Chicago. The other grains are seen trading lower
overnight: soybeans are currently seen about 0.6% lower, wheat is listed about 0.8% lower and
corn is currently noted about 0.4% lower.U.S. stock index futures indicated a flat to lower open
on Thursday, as investors digested the mostly dovish minutes from the Fed, ahead of more
earnings and data releases. Jobless claims came in at 281,000, slightly above lowered
expectations, but an increase from last week.
Markets searched for direction on Wednesday after the release of minutes from the Federal Open
Market Committee's March meeting, which showed policymakers were divided over the timing
of a rate hike. Wholesale trade data comes at 10:00 a.m. ET. European equities were higher in
morning trade on Thursday, resuming a recent rally, as investors reacted to fresh economic data.
Oil prices rose in early trading on Thursday, regaining some ground after the 6% slump in the
previous session following a sharp jump in U.S. crude inventories and record Saudi output. Gold
is currently trading about 0.3% lower, crude oil is seen trading about 1.7% higher, and the U.S.
dollar is currently trading about 0.4% higher at 8:00am Chicago time.
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Global Rice Quotes

April 9th, 2015
Long grain white rice - high quality
Thailand 100% B grade 395-405
Vietnam 5% broken
360-370
India 5% broken
375-385
Pakistan 5% broken
360-370
Myanmar 5% broken 410-420
Cambodia 5% broken 435-445
U.S. 4% broken
480-490
Uruguay 5% broken
575-585
Argentina 5% broken 565-575

Long grain white rice - low quality

Thailand 25% broken
Vietnam 25% broken
Pakistan 25% broken
Cambodia 25% broken
India 25% broken
U.S. 15% broken

355-365
340-350
335-345
410-420
345-355
470-480

Long grain parboiled rice

Thailand parboiled 100% stxd 385-395

Pakistan parboiled 5% broken stxd

395-405
India parboiled 5% broken stxd 360-370

U.S. parboiled 4% broken

555-565

Brazil parboiled 5% broken

570-580

Uruguay parboiled 5% broken NQ

Long grain fragrant rice

Thailand Hommali 92%
890-900
Vietnam Jasmine
470-480

India basmati 2% broken

NQ

Pakistan basmati 2% broken

NQ

Cambodia Phka Mails 810-820

Brokens
Thailand A1 Super
320-330

Vietnam 100% broken 310-320

Pakistan 100% broken stxd

285-295

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Cambodia A1 Super
340-350

India 100% broken stxd

275-285
Egypt medium grain brokens NQ

U.S. pet food 370-380

Brazil half grain

NQ

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

South Korea Seeks to Buy 87,000 Tons of

Non-Glutinous Brown Rice in Tenders
Apr 09, 2015

South Korea's state run Agro Fisheries & Food Trade Corporation (KAFTC) is seeking to buy
about 87,000 tons of non-glutinous rice of U.S. origin in tenders for delivery between August 15,
2015 and September 30, 2015, according to a statement on its website.The tonnage and delivery
dates of different varieties of rice sought by KAFTC is shown below:
Registration of tenders will close at 4.00 p.m on April 20, 2015. The electronic bidding will take
place on April 21, 2015 between 10.00 11.00 A.M.On March 24, 2015, KAFTC purchased
33,897 tons of non-glutinous brown rice of the Chinese origin for delivery by June 30, 2015.

Oryza Afternoon Recap - Chicago Rough Rice

Futures Tumble to Nearby Technical Support as
USDA Confirms Large Supply
Apr 09, 2015

Chicago rough rice futures for May delivery settled 17.5 cents per cwt (about $4 per ton) lower
at $10.400 per cwt (about $229 per ton). The other grains finished the day sharply lower follow
the release of the latest USDA S&D update; Soybeans closed about 1.9% lower at $9.5350 per
bushel; wheat finished about 1.5% lower at $5.1875 per bushel, and corn finished the day about
0.3% lower at $3.7800 per bushel.U.S. stocks traded in a narrow range on Thursday as investors
digested earnings reports and looked for more signals on the timing of an interest rate hike.
Energy advanced 1% to lead the S&P 500 as the index tried for gains.
Oil rose more than 2% to near $51 a barrel, recovering from a 6.6 percent slide on Wednesday.
Stocks continued Wednesday's choppy trade that followed the release of minutes from the
Federal Open Market Committee's March meeting, which showed policymakers were divided
over the timing of a rate hike. Jobless claims came in at 281,000, slightly above lowered
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expectations, but an increase from last week. Wholesale trade data came in slightly higher than
expected, up 0.3%. However, weak sales provide less incentive for wholesalers to build their
inventories. The Dow Jones Industrial Average dropped 11 points, or 0.06%, at 17,891. The S&P
500 gained 1 point or 0.07%, to 2,083, with energy leading five sectors higher and utilities
lagging. The Nasdaq gained 3 points, or 0.06%, to 4,953. Gold is trading about 0.8% lower,
crude oil is seen trading about 1.9% higher, and the U.S. dollar is seen trading about 1.1% higher
at about 1:00pm Chicago time.Wednesday, there were 2,165 contracts traded, down from 3,186
contracts traded on Tuesday. Open interest the number of contracts outstanding on
Wednesday increased by 457 contracts to 10,555.

Thailand Rice Exports Increase Sharply in

February 2015
Apr 09, 2015

Thailand has exported around 732,151 tons of rice in February 2015, up about 20% from around
610,504 tons exported in January 2015, and up about 3% from around 709,832 tons exported in
February 2014, according to data from Thai Rice Exporters Association (TREA). In value terms,
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Thailands rice exports earned about $369.58 million from total rice exports in February 2015,
up about 10% from around $336.75 million earned in Janaury 2015, and down about 2% from
around $378.18 million earned in February 2014.In February 2015, white rice exports accounted
for around 323,192 tons (about 44% of total February 2015 exports), Hom Mali rice accounted
for about 99,053 tons (about 13.5% of total February exports), brokens accounted for 85,897 tons
(about 11.7% of total February 2015 exports), glutinous variety accounted for 8,467 tons (about
1% of total February 2015 exports), parboiled rice accounted for about 212,067 tons (about 29%
of total February 2015 exports) and husked/brown rice accounted for about 3,475 tons (about
0.4% of total February exports).
Average export prices of broken, glutinous, parboiled and Hommali rice declined m/m in
February 2015, while prices of white and husked rice increased during the month. Average
export prices of Hommali rice witnessed the highest increase of about 1.27% month-on-month in
February 2015, while average export prices of husked rice witnessed the highest increase of
about 12.8% month-on-month during the month.

Oryza U.S. Rough Rice Recap - Prices Dip

Slightly as Futures Fall; USDA Estimates
Planting 14% Completed
Apr 07, 2015

The U.S. cash market was slightly weaker falling with the futures market; however, trade activity
was limited as sellers remain uninterested in the current bids they are seeing while most buyers
are still on the sidelines.In the meantime, the USDA estimates that as of April 5, 14% of the US
rice crop had been planted which unchanged from this time last year but 4% behind the previous
5-year average. As of now, the USDA estimates that farmers have planted at 6% of their rice
crop in Arkansas, 0% in California, 63% in Louisiana, 9% in Mississippi, 0% in Missouri, and
21% in Texas.
The USDA also estimates that 3% of the crop has emerged which was 3% greater than this time
last year but 1% behind the previous 5-year average. As of now, the USDA estimates that 0% of
the rice crop in Arkansas has emerged compared to , 0% in California, 17% in Louisiana, 0% in
Mississippi, 0% in Missouri, and 0% in Texas.

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USDA Post Estimates Pakistan MY 2014-15

Rice Exports at 3.7 Million Tons, Up 16%
from Last Year
Apr 09, 2015

USDA Post has estimated Pakistan MY 2014-15 (November - October) rice exports at around
3.7 million tons, up about 16% from an estimated 3.2 million tons in MY 2013-14 and down
about 5% from around USDA official estimates.The Post reports that Pakistan exported around
1.72 million tons in November 2014 - February 2015. It expects a weaker demand for basmati
rice exports. The Post also reports that Pakistans rice exporters are concerned about Chinas
import quota on Pakistani rice and Kenyas recent decision to hike its rice import tariff
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significantly. USDA Post also reports that Pakistan is a major rice exporter to the U.S. and it
exported rice worth $37.5 million (about 32% of the total agricultural exports) to the U.S. in
2014.
Post estimates Pakistan's 2015-16 exports at 3.8 million tons.USDA Post estimates Pakistan's
MY 2014-15 milled rice production at around 6.9 million tons, up about 3% from an estimated
6.7 million tons in MY 2013-14 due to an increase in acreage. It expects paddy rice acreage to
increase by about 3% to around 2.85 million hectares in MY 2014-15 from around 2.78 million
tons in MY 2013-14.
The Post estimates Pakistan's MY 2014-15 consumption to increase about 8% to around 2.8
million tons from around 2.6 million tons last year due to a better availability of stocks. It
estimates Pakistan MY 2014-15 rice stocks to increase about 28.5% to around 1.8 million tons
from around 1.4 million tons last year.

Sushi Meets Sandwich: Making Onigirazu

Apr 07, 2015

Its a true multi-cultural dish the sushi roll meets the sandwich, and its called onigirazu. The
dish is gaining in popularity in Japan because the varieties are endless you can fill it with
anything youd normally put on a sandwich! The recipe is great for sushi lovers who are
intimidated by the rolling process. The below recipe takes a twist on the American ham and
cheese sandwich, but I encourage you to try other combinations, too.
What You Need:
5 tablespoons mayonnaise
1 tablespoon wasabi paste (more or less depending on spiciness preference!)
2 teaspoons cooking oil
5 eggs
cup chopped fresh chives/scallions/green onions
5 sheets roasted seaweed
3 cups cooked rice
5 slices cooked ham
5 slices cheese of choice
What You Do:

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1. In a bowl, mix the mayonnaise and wasabi.
2. In a different bowl, beat the eggs.
3. In an 8-inch skillet over medium heat, warm the oil. Add the eggs and spread them around
the pan, sprinkling with chives/scallions/green onions. Cook until the eggs are set like an
omelet, and then turn over and cook an additional minute.
4. Cut the cooked eggs into 5 wedges 1 for each sandwich.
5. Lay 1 sheet of seaweed on a sheet of plastic wrap. Put 1/3 cup of warm rice in the center of
the seaweed and lightly spread it into a 5-inch square or circle.
6. Spread tablespoon of the mayonnaise mixture over the rice.
7. Set slice of ham on the rice.
8. Take an omelet wedge and cut it into 2 pieces, then lay them on the ham.
9. Put a slice of cheese on top of the egg and top with the remaining slice of ham.
10. Spread the remaining mayonnaise mixture on the ham and top with another 1/3 cup of rice.
11. Starting from the bottom corner of the seaweed, bring it up and over the layers and hold the
roll together with your fingers (it doesnt have to be wrapped as tightly as a sushi
roll!). Take another corner of the seaweed and fold it in until all the layers are wrapped.
12. Continue to make 4 more sandwiches.
13. Wrap tightly in plastic wrap and slice in half for an on-the-go snack!

Oryza U.S. Rough Rice Recap Prices Dip

Slightly After USDA Increases Ending Stocks
Estimate
Apr 09, 2015

The U.S. cash market was weaker today after a slightly bearish USDA WASDE which projected
a 1.0 million cwt (45,359 tons) increase in U.S. long grain exports which was completely offset
by a decrease in domestic and residual use.
Ending stocks, however, increased by 0.5 million cwts (22,680 tons) on account of increased
long grain imports which in turn pegged long grain ending stocks at 27.6 million cwts (1.25
million tons).
In the meantime, the USDA reported that cumulative net export sales for the week ending on
April 2nd, totaled 61,100 tons, which was 31% higher than last week but 22% lower than the
prior 4-week average.

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Increases were reported for the following destinations including: 35,700 tons to Mexico, 9,300
tons to unknown destinations, 7,100 tons to unknown Haiti, 2,500 tons to Saudi Arabia, and
2,400 tons to Guatemala.
U.S. rice exporters shipped 60,400 tons, which was 3% lower than last week but 1% higher than
the prior 4-week average. The primary destinations included: 24,500 tons to Colombia, 12,100
tons to Japan, 8,800 tons Mexico, 7,500 tons to Honduras, and 2,100 tons to Jordan.

Oryza Global Weather Outlook

Apr 09, 2015

Rain is expected across South China this week.

Rain showers are expected across much of India this week, which will slow rabi rice harvesting
there.
Rain is expected across Northern Pakistan this week.
A few showers are expected across Bangladesh this week.
Widespread rain is expected across most parts of Indonesia this week, which will slow main
crop rice harvesting there.
Rain is expected across Thailand this week.
Scattered rain is expected across Northern and Southern Vietnam this week.
Rain showers are expected across Northern Luzon and South-eastern Philippines this week.
Rain is expected North-western portions of Center-South Brazil and should also increase further
across Northeast Brazil this week.
Dry weather is expected across Argentina and Uruguay this week, which will favour rice
harvesting there.
In the U.S., abundant rain is expected across the Delta and Coastal Bend this week.

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