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November 24,2015
Vol 5,Issue XI

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Nicaragua Develops New Drought-Resistant

Rice Variety
Nov 23, 2015
The Nicaraguan Institute of Agricultural Technology (INTA) has developed a new droughtresistant rice variety, INTA-Posoltega, according to local sources.The new variety can yield up
to 8 tonsof paddy per parcel of land (11.4 tons per hectare) and matures in 120 days, according to
an INTA's researcher.
The INTA-Posoltega variety was reportedly introduced to small- and medium-sized rice
producers in the country's south-eastern city of Nueva Guinea, an agricultural region which
vulnerable to droughts and climate changes.
Nicaragua produces about 80% of the annual demand of over 350,000 tons. USDA estimates the
South American nation to produce about 290,000 tons of rice (basis, milled) in MY 2015-16
(October - September) and import about 70,000 tons to meet an annual consumption demand of
around 360,000 tons.

European Paddy, Rice Quotes Show Slight

Movements in Second Week of November
2015
Nov 23, 2015

European paddy quotes showed slight movements during the week November 10-17, 2015,
according to the European quotations supplied by the European Union (EU) on November 17,
2015. Paddy quotes were not available in some countries.SPAIN - Japonica paddy did not move
from 286 euros (about $304) per ton, unchanged. Indica paddy is firm at 273 euros (about $290)
per ton. Milled Japonica rice quoted 586 euros (about $623) per ton on both
weeks.
PORTUGAL - Portuguese rice received no quotations on both weeks.
GREECE Greek rice received no quotations on both weeks as for medium and Indica varieties.
Paddy long varieties are out at 300 euros (about $319 per ton) on both weeks.
ROMANIA - Japonica paddy prices were fixed at 353 euros (about $375) per ton, slightly up
from 352 euros (about $374) per ton on November 10. Indica paddy quotes were fixed on

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November 17 at 312 euros (about $331) per ton, down from 320 euros (about $340) per ton of
the prior week. As for milled rice, on November 17, Japonica quotes went up to 731 euros (about
$777) per ton from 720 euros (about $765) per ton on November 10. Indica milled rice was fixed
at 684 euros (about $727) on November 17, up from 662 euros (about $704) per ton of
November 10.
BULGARIA - Japonica paddy quotations were firm at 294 euros (about $312) per ton. Japonica
milled rice prices were unchanged at 872 euros (about $927) per ton.
FRANCE - Round milled rice was out at 560 euros (about $595) per ton on both weeks, Long A
at 590 euros (about $627) per ton on both weeks, Long B at 580 euros (about $616) per ton, upo
from 570 euros (about $606) per ton of November 10.

Iran to Temporarily Allow Rice Imports,

Reports Local Media
Nov 23, 2015

Iran, which imposed a ban on rice imports in October 2014 citing adequate stocks, has decided to
temporarily lift the ban on rice imports for three months starting December 3, 2015, local sources
quoted a statement issued by the Agriculture Minister.
The Ministry will reportedly allow customs officials to issue new import permits from December
4, 2015 - March 4, 2016, according to the statement. The ban will be reinstated after the threemonth period, according to the Ministry.
The decision is understood to tackle the insufficient domestic stocks to meet the demand.
There were reports in early November 2015 that Iran was lifting the ban on rice imports.
However, the Agriculture Ministry denied the reports. A few days later, it was reported that
Indian rice exporters were using the United Arab Emirates (UAE) route to export rice to Iran in
an effort to get around Iran's restrictive import permits to India's basmati rice.
Iran imported around 433,000 tons of rice in the first seven months of FY 2015-16 (March February) on orders placed before the ban.
Iran is the largest exporter of Indian basmati rice, accounting for more than a third of the
country's basmati rice exports. Indian exporters are looking forward for Iran to resume imports as
it would enhance basmati rice exports as well as push up prices, which have been falling since
the beginning of this year due to lower demand.

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India has exported 300,000 tons of basmati rice to Iran in the first four months of (April-August)
FY 2015-16 (April - March) against 370,000 tons during the same period in FY 2014-15,
according to the APEDA data. India exported 935,567 tons in FY 2014-15, down about 35%
from around 1.44 million tons in FY 2013-14.

Oryza CBOT Rough Rice Futures Recap Chicago Rough Rice Futures Ease off of
Early Gains to Close in the Red; Wheat
Rallies Over 1.5% on the Day
Nov 24, 2015

Chicago rough rice futures for Jan delivery settled 2.5 cents per cwt (about $1 per ton) lower at
$12.105 per cwt (about $267 per ton). The other grains finished the day higher; Soybeans closed
about 0.8% higher at $8.6425 per bushel; wheat finished about 1.6% higher at $4.9775 per
bushel, and corn finished the day about 0.9% higher at $3.7300 per bushel.
U.S. stocks traded in a range Monday as investors eyed fluctuations in oil prices and looked
ahead to economic reports in the shortened Thanksgiving holiday week. European stocks ended
lower, under some pressure from fluctuations in oil prices and declines in copper, which hit its
lowest level in more than 6 years. U.S. stocks rose more than 3% last week, with the S&P 500
posting its best week for the year so far, helped by gains in retail stocks and increasing
confidence in a December rate hike. Key economic reports for the week include another read on
third-quarter GDP Tuesday and the Fed's preferred gauge on inflation, the price inflation
measure for personal consumption expenditures, Wednesday.
In economic news Monday, the Chicago Fed National Activity Index was minus 0.04 in October,
up from minus 0.29 in September. Existing home sales showed a decline of 3.4% in October. In
early afternoon trade, the Dow Jones industrial average gained 1 point, or 0.01%, to 17,824. The
S&P 500 traded up 2 points, or 0.13%, to 2,091, with energy leading six sectors higher and
utilities the greatest laggard. The Nasdaq traded up 13 points, or 0.26%, to 5,117. Gold is seen
trading about 0.9% lower, crude oil is seen trading about 0.3% lower, and the U.S. dollar is seen
trading about 0.2% higher at about 1:45pm Chicago time.
Friday, there were 348 contracts traded, down from 2,016 contracts traded on Thursday. Open
interest the number of contracts outstanding on Friday decreased by 176 contracts to 12,520.

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China Rice Imports Increase Sharply in First

Ten Months of 2015
Nov 23, 2015

China has imported around 2.636 million tons of rice in the first ten months of 2015 (January December), up about 31% from around 2.013 million tons imported during the same period last
year, according to data from China Customs General Administration.
In October 2015, China imported around 322,600 tons of rice, down about 10% from around
357,700 tons imported in September 2015, and up about 79% from around 180,000 tons
imported in October 2014.
China has exported around 229,400 tons of rice in first ten months of 2015, down about 3% from
around 236,555 tons exported during the same period last year, according to data from the China
Customs General Administration.
In October 2015, China exported around 24,200 tons of rice, down about 62% from around
63,000 tons exported in September 2015 and down about 58% from around 57,492 tons exported
in October 2014.
China imported about 2.563 million tons of rice and exported about 419,069 tons of rice in 2014.

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USDA estimates China to produce around 145.5 million tons of milled rice in MY 2015-16 (July
- June). It estimates China to import around 4.7 million tons and export around 400,000 tons of
rice in 2015.

Thailand, Vietnam Rice Sellers Alter Some of

Their Quotes Today; Other Asian Rice
Quotes Remain Unchanged Today
Nov 23, 2015

Thailand rice sellers have increased their quotes for fragrant A1 super rice by about $5 per ton to
around $345 - $355 per ton today. Vietnam rice sellers lowered their quotes for 5% broken rice
and jasmine rice varieties by about $5 per tons to around $365 - $375 per ton and $445 - $455
per ton respectively. Other Asia rice sellers kept their quotes unchanged from Friday.
5% Broken Rice
Thailand 5% rice is indicated at around $350 - $360 per ton about $15 per ton discount on
Vietnam 5% rice shown at around $365 - $375 per ton. India 5% rice is indicated at around $345
- $355 per ton, about $30 per ton premium on Pakistan 5% rice shown at around $315 - $325 per
ton.
25% Broken Rice
Thailand 25% rice is indicated at around $335 - $345 per ton, about $20 per ton discount on
Vietnam 25% rice shown at around $355- $365 per ton. India 25% rice is indicated at around
$325 - $335 per ton, about $35 per ton premium on Pakistan 25% rice shown at around $290 $300 per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $350 - $360 per ton. India parboiled rice is
indicated at around $340 - $350 per ton, about $65 per ton discount to Pakistan parboiled rice
last shown at around $405 - $415 per ton.
100% Broken Rice
Thailand broken rice, A1 Super is indicated at around $325 - $335 per ton, about $5 per ton
discount to Vietnam 100% broken rice shown at around $330 - $340 per ton. India's 100%
broken rice is shown at around $285 - $295 per ton, about $5 per ton premium on Pakistan
broken sortexed rice shown at around $280 - $290 per ton.

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Thailand 2015-16 Dry Season Paddy Rice

Output to Decline Sharply on Lower Acreage
Nov 23, 2015

Thailand's 2015-16 dry season rice crop (November - April) output is expected to decline to
around 4 million tons, down about 25% from around 5.3 million tons last year, due to El Ninoinduced drought conditions, Bloomberg quoted a statement by the Office of the Agricultural
Economics (OAE).
It estimates the acreage for the on-going dry season crop at around 6.36 million rai (around 1.02
million hectares), down about 25% from around 8.48 million rai (around 1.36 million hectares)
in the previous year.
The government agency estimates the output from the 2015 main season rice crop (April December) at around 22.98 million tons, down about 30% from around 32.62 million tons last
year. Acreage for the main rice crop was at around 53 million rai (around 8.48 million hectares),
down about 9% from around 58 million rai (around 9.32 million hectares) in the previous year.
The government is expecting the drought conditions to continue in 2016 also. It is encouraging
farmers to switch to less water-consuming crops such as corn or beans.
It is also expecting the domestic paddy rice prices to increase next year. It is expecting the
average price of paddy white rice paddy at around 7,782 baht (around $218) per ton, according to
the statement.

Pakistan Rice Exports Increase Sharply in

First Four Months of FY 2015-16
Nov 23, 2015

Pakistan exported around 1.03 million tons of rice (including 114,895 tons of basmati and
917,302 tons of non-basmati) in the first four months of FY 2015-16 (July - June), up about 20%
from around 859,683 tons (168,955 tons of basmati and 690,718 tons of non-basmati) exported
during the same period in FY 2014-15, according to provisional data from the Pakistan Bureau of
Statistics (PBS).

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However, Pakistan's rice exports declined in terms of value during the said period. Pakistan
earned around $446 million during the four months of FY 2015-16, down about 14% from
around $517 million earned last year. The decline is attributed to a sharp decline in global rice
prices as well as a slow demand.

In October 2015, Pakistan exported around 372,630 tons of rice, up about 42% from around
263,368 tons exported in September 2015 and up about 29% from around 289,884 tons exported
in October 2014. In terms of value, Pakistan earned about $147.5 million in October 2015, up
about 72% from around $85.6 million earned in September 2015 and down about 5% from their
year-ago levels of around $154.7 million.
Pakistan exported around 24,945 tons of basmati rice in October 2015, down about 23% from
around 32,410 tons exported in September 2015, and down about 47% from around 47,459 tons
exported in October 2014. In terms of value, Pakistan's basmati rice exports earned $26 million
in October 2015 2015, down about 32% from around $38 million earned in September 2015, and
down about 45% from around $47 million earned in October 2014.
Pakistan exported around 347,685 tons of non-basmati rice in October 2015, up about 51% from
around 230,958 tons exported in September 2015 and up about 43% from around 242,415 tons in
October 2014. In terms of value, Pakistan's non-basmati rice exports earned $121 million in
October 2015, over two-and-half times from around $48 million earned in September 2015, and
up about 12% from around $107.85 million earned in October 2014.

Global Rice Quotes

November 24th, 2015

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Long grain white rice - high quality

Thailand 100% B grade 360-370
Vietnam 5% broken
365-370
India 5% broken
345-355
Pakistan 5% broken
315-325
Myanmar 5% broken 405-415
Cambodia 5% broken 415-425
U.S. 4% broken 490-510

Uruguay 5% broken
535-545
Argentina 5% broken 530-540
Long grain white rice - low quality
Thailand 25% broken 335-345
Vietnam 25% broken 355-365
Pakistan 25% broken 290-300
Cambodia 25% broken 400-410
India 25% broken
325-335
U.S. 15% broken
500-510

Long grain parboiled rice

Thailand parboiled 100% stxd 350-360

Pakistan parboiled 5% broken stxd

405-415
India parboiled 5% broken stxd 340-350

U.S. parboiled 4% broken

590-610

Brazil parboiled 5% broken

545-555

Uruguay parboiled 5% broken NQ

Long grain fragrant rice

Thailand Hommali 92% 705-715

Vietnam Jasmine
445-455

India basmati 2% broken

NQ

Pakistan basmati 2% broken

NQ

Cambodia Phka Mails 830-840

Brokens
Thailand A1 Super
325-335

Vietnam 100% broken 330-340

Pakistan 100% broken stxd

280-290
Cambodia A1 Super
355-365

India 100% broken stxd 285-295

Egypt medium grain brokens NQ

U.S. pet food 330-340

Brazil half grain NQ

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