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July 10 , 2015
Vol 5 ,Issue VII

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Indian Court to Hear Plea on Chinese Plastic


Rice
Jul 09, 2015

Oryza.com -

The Delhi High Court has accepted a public interest litigation (PIL) that has alleged that the rice
made out of plastic, which is imported from China, is being sold in the country along with real
rice and has sought testing of samples, according to the Economic Times.
The PIL stated that plastic rice when mixed with real rice cannot be identified and when
consumed, it may lead to serious gastric ailments. The petitioner urged the court to allow for
raiding rice traders and testing the samples in order to protect the consumers.

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The Court will reportedly hear the case on August 20, 2015.
Global Rice Quotes
July 10th, 2015
Long grain white rice - high quality
Thailand 100% B grade 390-400

Vietnam 5% broken

345-355

India 5% broken

380-390

Pakistan 5% broken

375-385

Myanmar 5% broken

415-425

Cambodia 5% broken

425-435

U.S. 4% broken 470-480

Uruguay 5% broken

535-545

Argentina 5% broken

530-540

Long grain white rice - low quality


Thailand 25% broken

355-365

Vietnam 25% broken

325-335

Pakistan 25% broken

335-345

Cambodia 25% broken 410-420

India 25% broken

350-360

U.S. 15% broken

445-455

Long grain parboiled rice


Thailand parboiled 100% stxd

390-400

Pakistan parboiled 5% broken stxd

415-425

India parboiled 5% broken stxd 375-385

U.S. parboiled 4% broken

555-565

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Brazil parboiled 5% broken

545-555

Uruguay parboiled 5% broken NQ

Long grain fragrant rice


Thailand Hommali 92% 865-875

Vietnam Jasmine

490-500

India basmati 2% broken

NQ

Pakistan basmati 2% broken

NQ

Cambodia Phka Mails

835-845

315-325

Vietnam 100% broken 310-320

Brokens
Thailand A1 Super

Pakistan 100% broken stxd

285-295

India 100% broken stxd 295-305

Egypt medium grain brokens

NQ

U.S. pet food

350-360

Brazil half grain NQ

Cambodia A1 Super 350-360

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

Oryza Overnight Recap Chicago Rough


Rice Futures Continue to Trend Higher;
Grains Higher on Improvement in Chinese
Economy
Jul 09, 2015

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Chicago rough rice futures for Sep delivery are currently seen paused 5.5 cents per cwt (about $1
per ton) higher at $11.065 per cwt (about $244 per ton) ahead of floor trading in Chicago. The
other grains are seen trading higher this morning; soybeans are currently seen trading about 1.7%
higher, wheat is listed about 0.8% higher and corn is currently noted about 0.8% higher.
U.S. stocks were tipped to open higher on Thursday, as a recovery in battered Chinese stocks
lifted sentiment, while focus remained on efforts to avert the collapse of Greece. China's
benchmark Shanghai Composite stock index jumped almost 6% after Beijing delivered its latest
salvo of measures to prop up a market that has crashed nearly 30% in the past month. The
Chinese Securities regulator on Thursday banned shareholders from selling large stakes in listed
firms in a bid to stem a slide in Chinese stocks that has sparked fears across the globe about a
protracted slowdown in the world's second-biggest economy. In fact, the sharp selloff has put
China risks firmly back in the spotlight, helping send Wall Street shares down almost 1.5% on
Wednesday. On the domestic front, weekly jobless claims data showed a slight increase to
297,000. There are several Federal Reserve speakers on the calendar, while Fed Chair Janet
Yellen speaks on Friday. Gold is currently trading about 0.1% higher, crude oil is seen trading
about 2.4% higher, and the U.S. dollar is currently trading about 0.2% higher at 8:30am Chicago
time.

Will Deteriorating Thai Rice Stocks Divert


Export Demand to India?
Jul 09, 2015

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A combination of external factors are likely to be favourable to India's non-basmati rice exports
in FY 2015-16 (April - March), according to the HinduBusinessLine.
After selling around 1.14 tons of rice in the latest tender on July 7, the Thai government is
holding about 14.3 million tons of rice in its stockpiles. Of this around 4.6 million tons are
declared as rotten and the government is planning to sell them to the industrial sector by the end
of this month. About 8 million tons of rice have reportedly passed standard testing and could be
sold for domestic consumption and export.
However, quality concerns still persist among buyers and they are expected to turn to India to
meet their buying needs. Since India is said to have good quality white rice, parboiled rice and
100% broken rice, demand for these could be expected to increase in this year.
An India-based grains analyst told local sources that since prices of Indian rice are also
competitive, exports are expected to be stable in FY 2015-16 unless the rupee strengthens against
the dollar or the government intervenes. The monsoons, which are feared to be impacted by the

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El Nino weather pattern, should not play a spoil sport on Indian rice production else the
government may decide to place restrictions on rice exports.
India 5% rice, parboiled rice and 100% broken rice currently stand at $385 per ton, $375 per ton
and $300 per ton respectively compared to Thailand's $385 per ton, $320 per ton and $390 per
ton.
India exported around 1.05 million tons of non-basmati rice in the first two months of FY 201516 (April - March), up about 13% from around 929,552 tons during the same period in FY 201415, according to data from the Agricultural & Processed Food Products Export Development
Authority (APEDA). India's total rice exports in April - May 2015 stood at around 1.83 million
tons compared to around 1.55 million tons last year.

Venezuela to Cancel 'Rice for Oil' Deal with


Guyana, Says Finance Minister
Jul 09, 2015

The PetroCaribe Deal between Venezuela and Guyana is coming to an end as Venezuela has not
agreed to renew it after it expires in November this year, according to local sources. Venezuela
sells oil to Guyana and buys rice from Guyana under the deal.

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Guyana's Finance Minister told local sources that Venezuela has decided to cancel the deal with
Guyana as it has secured shipments from Suriname and has enough local production to meet the
domestic demand. Local media is also reporting that Venezuela has signed a new rice deal with
Uruguay, and the deal would help Uruguay to clear off its $400 million debt it accumulated from
taking Venezuela's oil at concessionary rates.
The Minister also noted that Venezuela has hinted that it may buy rice from Guyana next year to
support its buffer stocks. He said that Venezuela has shown interest in working with Guyana to
pursue rice markets together. For instance, the Venezuelan authorities have proposed that they
would help Guyana in shipping its rice to other countries. Guyana will be allowed to bring rice to
an office set in Venezuela's borders and from there, it could ship rice to its destination markets.
However, the destination markets should have a good relation with Venezuela.
He noted that though the two options proposed by Venezuela are difficult to get into action, a
team from Guyana has been invited to discuss the options.
However, with the expiration of the PetroCaribe deal, Guyana is under pressure to find new
markets for its rice. Under the existing oil for rice agreement, Guyana is expected sells about
210,000 tons of paddy and polished rice annually to Venezuela.

Thailand Rice Exports Increase Sharply in


May 2015
Jul 09, 2015

Thai rice exports increased sharply in May 2015 after declining about 11% m/m in April 2015,
according to data from Thai Rice Exporters Association (TREA). Thailand has exported around
945,597 tons of rice in May 2015, up about 35% from around 700,011 tons exported in April
2015, and up about 7% from around 881,212 tons exported in May 2014, according to TREA.
The increase is attributed to an expected decline in supply in Thailand as well as globally owing
to drought-inducing El Nino weather pattern.
In value terms, Thailands rice exports earned about $416.22 million from total rice exports in
May 2015, up about 22% from around $340.10 million earned in April 2015, and down about
2.5% from around $427.12 million earned in May 2014.
In May 2015, white rice exports accounted for around 416,991 tons (about 44% of total May
2015 exports), Hom Mali rice exports accounted for about 106,731 tons (about 11% of total May
exports), brokens accounted for 182,796 tons (about 19% of total May 2015 exports), glutinous

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variety accounted for 20,688 tons (about 2% of total May 2015 exports), parboiled rice
accounted for about 211,696 tons (about 22% of total May 2015 exports) and husked/brown rice
accounted for about 6,695 tons (about 0.7% of total May 2015 exports).
Average export prices of all varieties of rice except husked rice have declined during the month.
Average export prices of broken rice witnessed the highest decline of about 10% month-onmonth in May 2015, while average export prices of husked rice increased by about 6% monthon-month during the month.
Thailand exported around 3.77 million tons of rice in the first five months of 2015, down about
1.3% from around 3.82 million tons exported during the same period last year. Thai government
is keen on exporting over 10 million tons of rice this year.

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India Basmati Rice Exports May Increase by


10% in FY 2015-16 Due to Steady Demand,
Says APEDA Official
Jul 09, 2015

India, which exported around 3.7 million tons of basmati rice in FY 2014-15 (April - May), is
expected to export around 4 million tons of basmati in FY 2015-16 due to a steady demand, local
sources quoted the Director of the Basmati Export Development Foundation, Agricultural &
Processed Food Products Export Development Authority (APEDA).

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He noted that India's basmati rice exports were affected in FY 2014-15 due to Iran imposing a
temporary ban on imports citing surplus domestic availability. Iran imported around 900,000
tons of basmati rice from India in FY 2014-15 compared to 1.44 million tons in FY 2013-14.
However, he noted that this year, the situation has stabilized and export demand from other
countries like Saudi Arabia is expected to compensate for the Iran shortfall. Saudi Arabia
remained the top importer of Indian basmati rice in FY 2014-15 with around 966,931 tons,
according to the APEDA data.
India exported around 780,090 tons of basmati rice in the first two months of FY 2015-16, up
about 25% from around 622,135 tons during the same period in FY 2014-15, according to
APEDA, though it started on a low note in April.
However, farmers are expected not to increase basmati rice acreage in this kharif season based
on last year's experience of low demand and low prices, according to the Executive Director of
the All India Rice Exporters' Association (AIREA). Basmati rice acreage increased about 31% to
around 2.1 million hectares in 2014-15 from around 1.6 million hectares in 2013-14.
In 2014-15, domestic basmati paddy prices fell to around Rs.2,300-2,500 per quintal (around
$362-$394 per ton) from around Rs.3,500-4,000 (around $551-$630 per ton) in 2013-14 mainly
due to low shipments to Iran.
Separately, following an impleading petition by the Patiala Basmati Growers Association,
Punjab in the Intellectual Property Appellate Board (IPAB) in the ongoing litigation between the
APEDA and the GI Registry in the issue of including more areas to be recognized under GI for
basmati, the IPAB has posted the case for final hearing on November 3 and ordered all the
parties to file their written arguments by October. Already, the IPAB has accepted impleading
cases by a farmers' group in Madhya Pradesh and Pakistan Basmati Growers Association (BGA).

Oryza Afternoon Recap - Chicago Rough


Rice Futures Supported by Rising Grains as
Chinese Markets Stabilize and as Traders
Prepare for Tomorrow's USDA Reports
Jul 09, 2015
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Chicago rough rice futures for Sep delivery settled 4 cents per cwt (about $1 per ton) higher at
$11.050 per cwt (about $244 per ton). The other grains closed higher as well today; Soybeans
closed about 2.8% higher at $10.1575 per bushel; wheat finished about 0.1% higher at $5.7800
per bushel, and corn finished the day about 1% higher at $4.2875 per bushel.
U.S. stocks more than halved gains on Thursday as optimism faded after an opening rebound on
the jump in Chinese stocks overnight. The Dow Jones industrial average traded about 70 points
higher after surging as much as 249 points in the open as the major averages briefly jumped
nearly 1% or more. Germany's Finance Minister Wolfgang Schaeuble conceded on Thursday that
Greece would need some debt restructuring as part of any new loan program to make its
economy viable, Reuters reported. The cash-strapped government is expected to submit
proposals by midnight Thursday. The Shanghai Composite shot 5.8% higher on Thursday for its
best day in six years after China instituted new supportive measures, including restrictions on
short selling and loosening of margin lending regulations. European stocks also surged, with the
DAX up more than 2.5%, as investors remained hopeful of a Greece proposal before the Friday
deadline. Political talks over Greece must produce a strong outcome on Sunday for the European
Central Bank to provide continued support, while there's only "very low" leeway to reprofile
Greece's debt, euro zone leaders said, according to Reuters. On the domestic front, weekly
jobless claims gained slightly to 297,000, the highest level since February. There are several
Federal Reserve speakers on the calendar ahead of Fed Chair Janet Yellen's speech Friday. The
Dow Jones Industrial Average traded up 125 points, or 0.72%, at 17,641. The S&P 500 traded up
15 points, or 0.71%, at 2,061, with financials leading eight sectors higher and utilities and
telecommunications the only decliners. The Nasdaq traded up 45 points, or 0.92%, at 4,955.
Gold is trading about 0.3% lower, crude oil is seen trading about 2.5% higher, and the U.S.
dollar is seen trading at about 0.4% higher at about 1:15pm Chicago time.
Wednesday, there were 1,173 contracts traded, up from 1,033 contracts traded on Tuesday. Open
interest the number of contracts outstanding on Wednesday increased by 49 contracts to
9,351.

FAO Global Rice Price Index Declines for


Tenth Consecutive Month
Jul 09, 2015

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The FAO All Rice Price Index declined to around 213 points in June 2015, down about 0.9%
from around 215 points in May 2015 due to a decline in all sub-indices. The market weakness
was pervasive, dominating all market segments and virtually all origins, says the FAO.
The FAO index has been declining continuously since September 2014. It declined about 11%
during the 10-month period.
The Higher Quality sub-index declined about 2 points or about 1% to around 184 points, while
the Lower Quality Indica sub-index declined about 2 point, or about 1% to around 188 points in
June 2015. Japonica sub-index declined by about 1 points, or about 0.3% to around 265 points
this month from around 266 points last month. The Aromatic sub-index declined by about 3
points or about 1.6% to around 182 points in June 2015. The decline in Aromatic sub-index is
mainly due to large production surpluses and a continued subdued import demand, according to
the FAO.
In January - June 2015, the FAO All Rice Price Index averaged 218 points, down about 7.3%
from around 235 points during the same period last year. Sub-index for higher quality Indica rice
prices declined about 9.6% y/y and sub-index for lower quality Indica rice prices declined about

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5.4% y/y. Aromatic rice price sub-index declined about 28% y/y. However, sub-index for
Japonica rice prices increased about 4% y/y.
According to the FAO, rice export prices in the Asian origins such as Vietnam, India, Pakistan
and Thailand declined due to continued strong competition for markets. Export prices in the
U.S., Argentina and Uruguay also declined due to slow export sales.
During June 2015, average rice export prices of Thai 100% broken rice, Thai parboiled rice, Thai
fragrant rice, Thai 5% rice and Thai 25% rice declined to around $385 per ton, $382 per ton,
$1,048 per ton, $376 per ton and $365 per ton respectively. Average export prices of Thai A1
Super increased slightly to $327 per ton. Export prices of Vietnam 25% broken rice remained
firm this month while those of Pakistan and India declined to around $346 per ton and $344 per
ton respectively. Export prices of the U.S. and Uruguay rice declined to around $485 per ton and
around $538 per ton respectively.

Iraq Seeks to Purchase 30,000 Tons of Rice in


International Tenders
Jul 09, 2015

Iraq has invited international tenders to purchase about 30,000 tons of rice from U.S., Uruguay,
Argentina and India, Bloomberg quoted a statement from the Iraq's Trade Ministry.
Last date for submitting bids is July 15, 2015 and offers remain valid till July 21, 2015.

Oryza U.S. Rough Rice Recap - Prices


Continue to Firm as Futures Rally; Iraq
Issues New Tender
Jul 09, 2015
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Oryza.com -

The U.S. cash market was firmer today despite disappointing export sales as the futures market
remains on fire and sellers are holding out in expectation of higher prices before the end of the
marketing year.
Today the USDA reported that cumulative net export sales for the week ending on July 2nd,
totaled 9,400 tons, which was 86% lower than last week and the prior 4-week average.
Increases were reported for the following destinations including: 10,600 tons to Guatemala
including 6,000 tons unknown destinations, 1,700 tons to Canada, 900 tons to Mexico, 600 tons
to Libya, and 300 tons to the United Arab Emirates. Net sales of 1,200 tons were reported for
2015/2016 including 700 tons to the United Arab Emirates and 500 tons to Jordan.
U.S. rice exporters shipped 104,400 tons, which was considerably higher than last week
and 52% higher than the prior 4-week average. The primary destinations included: 24,700 tons

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to South Korea, 24,100 tons to Japan, 23,500 tons to Turkey, 7,300 tons to Mexico, and 7,100
tons to Libya.
In the meantime, The IGB is seeking to buy either U.S., Uruguayan, Argentine, or Indian origin
and offers need to be submitted no later than July 15th and must remain valid through July 21st.

EU 2015-16 Rice Imports to Increase 3.5%


y/y to 1.18 Million Tons
Jul 09, 2015

The European Union's 2015-16 (September - August) rice imports are forecasted to increase
about 3.5% to around 1.18 million tons from an estimated 1.14 million tons, , according to the
report "Rice Market", issued by EU Committee for the Common Organisation of Agricultural
Markets on June 25 2015.
While Japonica rice imports are forecasted to decline about 11% y/y to around 80,000 tons,
Indica rice imports are forecasted to increase about 5% y/y to around 1.1 million tons.
The EU's 2015-16 rice exports (to third countries) are forecasted to increase about 2% to around
270,000 tons from an estimated 265,000 tons. Exports of Japonica rice varieties are forecasted to
increase to 245,000 tons from an estimated 240,000 tons and exports of Indica rice varieties are
forecasted to remain stable at 25,000 tons.
The EU's 2015-16 rice production is forecasted to increase to around 1.715 million tons, up
about 5% from an estimated 1.637 million tons in 2014-15. Production of Japonica rice varieties
is forecasted to increase about 9% to around 1.19 million tons from an estimated 1.089 million
tons last year; and production of Indica rice varieties is forecasted to decline about 4% to around
525,000 tons from an estimated 548,000 tons last year.
Total area under rice is forecasted at around 423,000 hectares, up about 2% from an estimated
414,000 hectares last year. While area under Japonica varieties is forecasted to increase about
8% y/y to around 313,000 hectares, area under Indica varieties is forecasted to decline about
10% y/y to around 111,000 hectares.
More than half of European area is located in Italy, with 220,000 hectares (190,000 has sowed
with Japonica, the rest with Indica varieties), followed by Spain, (110,220 hectares, half Japonica

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and half Indica), Greece (28,690 hectares, of which 20,060 has Japonica and 8,600 Indica),
Portugal (27,940 hectares, of which 17,000 hectares are Japonica and 10,940 hectares are
Indica), France (12,000 hectares), Romania (11,500 hectares), Bulgaria (9,870 hectares) and
Hungary (3,000 hectares). The data about areas and production are estimates by EU member
states, apart from Bulgaria (same data as a year prior) and Hungary (estimates by Copa-Cogeca).

Brazil Rice Stocks Decline Slightly to 127,970


Tons in June 2015
Jul 09, 2015

Brazil rice stocks stood at around 127,970 tons in June 2015, slightly down from around 128,120
tons in May 2015 and down about 76% from around 540,961 tons in June 2014, according to the
country's national grain supplying agency Conab.

According to Conab, rice stocks with the Selling Option Contract of Agricultural Products
(OPCAO) as well as Federal Government Acquisition (AGF) have remained unchanged at last
month's level of around 75,732 tons and 52,213 tons respectively. They were down about 77%
and 75% respectively from their year ago levels. Rice stocks with farmers (Agricultural Familiar)
stood at around 25 tons in June 2015, down 86% from around 175 tons in May 2015 and down
about 96% from around 595 tons in June 2014. In June 2015, Brazils National Grains Supply
Company (Conab) has forecasted the country's 2014-15 paddy rice production at around 12.544
million tons (around 8.53 million tons, basis milled), up about 3.5% from around 12.121 million
tons (around 8.24 million tons, basis milled) in 2013-14, and slightly up from its May forecast of
around 12.399 million tons

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