Daily Exclusive ORYZA Rice E-Newsletter

February 01,2016
Vol 6,Issue I

www.ricepluss.com

www.riceplusmagazine.blogspot.com

Daily Exclusive ORYZA Rice E-Newsletter

Cold Weather Destroys 10,725 Hectares of

Paddy Fields in Vietnam
Jan 29, 2016

Cold weather in Northern Vietnam destroyed around 10,725 hectares of paddy fields, Vietnam
News quoted officials from Food Cooperatives.
Livestock and vegetables are also said to have been severely impacted by cold weather.
Saigon Times reports that prices of vegetables and meat have risen significantly due to the
impact of cold weather conditions on crops. Vegetable prices are likely to double if cold weather
continues.

Oryza U.S. Rough Rice Recap - Price Firm

Slightly despite Dismal Export Sales
Jan 30, 2016

The U.S. cash market was slightly firmer again today despite dismal export sales figures as many
market participants are hopeful the U.S. will receive additional demand from Colombia in
addition to the February 1 TRQ.
The USDA reported that cumulative net export sales for the week that ended on January 21,
totaled 22,700 tons, a decrease of 46% from the previous week and 57% lower than the prior 4week average.
Increases were reported for the following destinations: 9,100 tons to Honduras including 4,000
tons switched from unknown destinations, 9,100 tons to Canada, 5,600 tons to Mexico, 700 tons
to Papua New Guinea, and 400 tons to Guatemala while reductions of 4,000 tons were reported
for unknown destinations.
U.S. rice exporters shipped 42,700 tons, a decrease of 43% from than last week and 7% lower
than the prior 4-week average.
Increases were reported for the following destinations: 14,200 tons to Haiti, 12,500 tons to Japan,
4,400 tons to Honduras, 4,000 tons to Mexico, 2,400 tons to Canada, and 2,000 tons to South
Korea.
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India average wholesale rice prices which declined in October 2015 with the beginning of the
kharif (June - December) rice harvest, have been increasing since November 2015 on concerns
of lower output due to El Nino-induced below-average monsoon rains in many rice growing
areas.
Average monthly wholesale rice prices in India increased to around Rs.2,866.27 per quintal in
January 2016, up about 8% from around Rs.2,645,06 per quintal in December 2015, and up
about 1% from their year-ago levels of around Rs.2,836 per quintal.
In terms of USD per ton, wholesale rice prices in India stand at around $427 per ton (using
current exchange rates) in January 2016, up about 7% from around $399 per ton (using historical
exchange rates) in December 2015, and down about 7% from around $448 per ton (using
historical exchange rates) in January 2015.
Analysts are expecting Indias average prices to increase if Indias production is dampened by
intensifying El Nino weather pattern, which is likely to cause drought conditions in Asia.
The government of India has forecasted the 2015-16 kharif (June - December) rice production at
around 90.6 million tons, slightly down from around 90.86 million tons in 2014-15.
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Oryza Weekly: Rice Prices Surge on

Concerns of High Demand, Low Output
Jan 30, 2016

The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes,
ended the week at about $386 per ton, up about $3 per ton from a week ago, down about $2 per
ton from a month ago and down about $37 per ton from a year ago.
The World Bank, in its Commodity Market Outlook report, forecasts rice prices to remain below
$400 per ton in 2016 and up to 2020.
Global stocks jumped after the Bank of Japan lowered interest rates to negative territory, a move
that should improve liquidity. China's stock market bounced but still logged the biggest monthly
drop in 7 years. Data showed the U.S. economy hit a rough patch in Q4 2015 as inventories rose
and trade slowed. Iran pushed OPEC crude oil output to a new high as sanctions are lifted. A
U.S. Federal Reserve policy maker said in an interview that the central bank would be patient on
U.S. interest rate policy, given global risks.
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Daily Exclusive ORYZA Rice E-Newsletter

Thailand
Thailand 5% broken rice is today shown at about $370 per ton, up about $10 per ton from a week
ago, up about $20 per ton from a month ago and down about $35 per ton from a year ago.
In 2015, Thailand exported about 9.8 million tons of rice, about 10.7% less than in 2014. In
terms of value, Thai rice exports declined about 15.2% y/y to around $4.61 billion.
In 2016, Thailand plans to sell about 300,000 tons of rice to Iran, according to the Thai Rice
Exporters Association.
Rice exports in 2016 are expected to decline about 800,000 tons from last year to around 9
million tons, according to the Thai Rice Exporters Association.
The President of the Thai Rice Exporters Association is optimistic that Thai rice exports will
increase this year and Thailand will regain top rice exporter status from India.
Former Thai Prime Minister Yingluck Shinawatra criticized the government for using an
administrative process rather than a court lawsuit to seek compensation from in the rice-pledging
case on her Facebook and Twitter pages.
The government of Thailand has hiked the paddy rice output goal for the 2016-17 crop year to
around 27.17 million tons from the earlier target of 25 million tons based on higher demand
estimates.
Vietnam
Vietnam 5% broken rice is today shown at about $355 per ton, up about $5 per ton from a week
ago, down about $10 per ton from a month and a year ago.
During the period January 1-20, Vietnam exported about 108,959 million tons of rice, about 50%
less than in January 2015 and about 86% less than last month. The average export price so far in
January is about $365 per ton, about 19% less than a year ago and about 10% less than a month
ago.
The USDA Post forecasts Vietnams 2016 rice exports to reach about 6 million tons, about 8%
less than last year, due to expected low carry-over stocks from MY 2014-15 (JanuaryDecember).
Cold weather in Northern Vietnam destroyed around 10,725 hectares of paddy fields, a
development that could increase rice prices domestically.
Cambodia & Myanmar

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Cambodia 5% broken rice is today shown at about $430 per ton, unchanged from a week ago
and a month ago, and down about $15 per ton from a year ago.
The Prime Minister of Cambodia has asked for more investment in rice storage and drying
facilities in order to facilitate more exports. Specifically, the Prime Minister is optimistic that
the country will supply rice to the Philippines this year, competing with Thailand and
Vietnam. Additionally, the government and Cambodian Rice Federation are working to brand
and market Cambodian jasmine rice as distinct from Thai jasmine rice, hoping to position it as
extra premium rice.
Myanmar 5% broken rice is today shown at about $420 per ton, unchanged from a week ago, up
about $5 per ton from a month and a year ago.
India
India 5% broken rice is today shown at about $360 per ton, unchanged from a week and a month
ago, and down about $40 per ton from a year ago.
As of January 28, India 2015-16 winter/rabi rice (November-May) planting area has reached
about 2.241 million hectares, a decrease of about 7% from the same period in 2014-15. The
decline is attributed to scanty rains and low moisture in some rice growing regions. Despite this
decline, this years planting is ahead of the previous 4-year average.
Average monthly wholesale rice prices in India increased to around Rs.2,866.27 per quintal in
January 2016, up about 8% from around Rs.2,645,06 per quintal in December 2015, and up
about 1% from their year-ago levels of around Rs.2,836 per quintal. The increase can be
attributed to concerns of lower output due to El Nino-induced below-average monsoon rains in
many rice growing areas.
Wholesale basmati rice prices in the national capital have declined this week due to a slackened
demand from retailers.
The National Rice Research Institute (NRRI) in India has developed a new rice variety that is
enriched with higher level of protein compared to the traditional rice varieties.
Pakistan
Pakistan 5% broken rice is today shown at about $345 per ton, up about $5 per ton from a week
ago, up about $10 per ton from a month ago and down about $15 per ton from a year ago.
The Chairman of the Rice Exporters Association of Pakistan is calling for appropriate payment
mechanisms in order to facilitate exports to Iran.
Central & South America

Daily Exclusive ORYZA Rice E-Newsletter

The government of Guyana is advising farmers to delay rice planting activities for the 2016 crop
due to the beginning of the El Nino-induced dry season.
Brazil 5% broken rice is today shown at about $460 per ton, unchanged from a week ago, down
about $10 per ton from a month ago and down about $80 per ton from a year ago. The Brazilian
paddy rice index maintained by the Center for Advanced Studies on Applied Economics
(CEPEA) reached around 41.94 real per 50 kilograms as of January 25, 2016, up about 1.11%
from around 41.48 real per 50 kilograms recorded on January 18, 2016. In terms of USD per
ton, the index reached around $205.03 per ton on January 25, 2016, up about 0.24% from around
$204.53 per ton recorded a week ago. Month-on-month, the index has increased about 2.39%
from around 40.96 real per 50 kilograms recorded month ago. In terms of USD, the index
declined about 3.34% during the month.
Five per cent broken rice from Uruguay and Argentina is today shown at about $470 per ton,
down about $10 per ton from a week ago, down about $40 per ton from a month ago and down
about $130 per ton from a year ago. Argentina has exported around 267,466 tons of rice in the
first ten months of 2015 (January - October), down about 42% from around 458,950 tons
exported during the same period in 2014, according to data from the Ministry of Agriculture in
Argentina.
Ongoing drought conditions brought on by El Nino are impacting production of rice in Cuba,
and the government is likely to impose price controls on rice in order to address the concerns of
low production and supplies.
U.S.
U.S. 4% broken rice is today shown at about $470 per ton, unchanged from a week ago, down
about $10 per ton from a month ago and down about $30 per ton from a year ago.
The U.S. and China have finalized their rice trade agreement, establishing phytosanitary or pest
control rules necessary to allow U.S. rice into China.
Chicago rough rice futures for March delivery climbed higher this week, continuing to recover
from the recent decline. After opening at $11.000 per cwt (about $243 per ton) on both Monday
and Tuesday, futures gained steadily, reaching the weekly high of $11.480 per cwt (about $253
per ton) on Thursday before settling slightly to close at $11.350 per cwt (about $250 per ton)
Friday.
The U.S. cash market was slightly firmer this week but trade remained quiet as buyers and sellers
couldnt agree on price.
Other Markets
Paddy rice production in 2015 in the Philippines is down about 4.31% from 2014, reaching
about 18.15 million tons, according to the Philippine Statistics Authority. However, the
government has decided to defer the plan to import 400,000 tons of rice for delivery in the
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second quarter of 2016 because there is enough supply, according to the National Food
Authority. Meanwhile, the Economic Planning Secretary says the government must focus on
achieving rice self-sufficiency since the effects of El Nino were less drastic than anticipated. The
Philippines Department of Agriculture (DA) has set the 2016 paddy rice production target at
around 19 million tons.
The National Development Planning Minister of Indonesia says the government needs about 1.2
million tons of rice in order to maintain adequate stocks by the end of March 2016. The
government plans to balance rice supply-demand in order to control price hikes.
The government of Sri Lanka expects record paddy rice output from the 2015-16 Maha crop
(September-March) to reach about 2.93 million tons, an increase of about 7% from last year.
Taiwans Council of Agriculture, Agriculture and Forest Agency has announced the country
specific quotas for the 2016 Simultaneous Buy and Sell rice tender.
The Prime Minister of Malaysia announced that the government will distribute 20 kilograms of
rice per month to families registered in need under a new aid program.
The government of Bangladesh plans to build five steel silos with total capacity to store about
345,000 tons of rice, and it will invite bids from interested parties in August.
According to data from Statistics Korea, the per capita rice consumption in the South Korea fell
to around 62.9 kilograms in 2015, down about 3.4% from around 65.1 kilograms in 2014. The
per capita rice consumption is reportedly lowest since 1963 and more than half of around 136.4
kilograms in 1970 when the consumption hit a record high. Meanwhile, South Korea is planning
to begin rice exports to China in February 2016 after both the governments agreed on a set of
quarantine requirements after the South Korea-China summit talks in October last year.
Since September 1, rice imports by the European Union have increased sharply, with the EU
importing about 441,465 tons of rice between September 1 and January 19, an increase of about
28% from the same period last year.
European paddy quotes showed mixed trends during the week January 12 - 19, 2016, after
remaining firm during the previous week, according to the European quotations supplied by the
European Commission (EC) on January 19, 2016.
Italys Ente Nazionale Risi (National Agency for Rice) will organize a technical meeting on
February 4 with hopes of helping rice farmers and breeders with the latest developments in the
rice value chain.
Italian paddy rice prices declined in the third week of January 2016 after being relatively stable
during the previous week. Most of the paddy varieties declined as of January 26, 2016 compared
to those on January 19, 2016.

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On February 10, Spains Institute of Research and Technology Food and Agriculture will
conduct the annual technical rice conference.
The government of Cameroon has reinstated the 5% customs duty on rice imports under the
2016 Finance Act.
The state grain buyer for Egypt, the General Authority for Supply Commodities, has canceled a
tender to purchase an unspecified amount of rice.

Government of Philippines Sets 2016 Paddy

Rice Output at 19 Million Tons
Jan 29, 2016

The Philippines Department of Agriculture (DA) has set the 2016 paddy rice production target at
around 19 million tons, but may not be adequate to fulfil the countrys rice self-sufficiency goal,
the Philippine Star quoted the Agriculture Secretary.
For us to hit a higher target, we need at least 20 million metric tons but we were not given the
budget needed to hit the 20-million mark. We asked for additional budget (for rice sufficiency)
but it was not granted. So dont expect higher production, he said.
He noted that the DA needs more seeds to reach 100% rice sufficiency level.
The country produced 18.149 million tons of paddy in 2015, lower than the DA's 19.5 million
ton target due to the prolonged dry conditions and other natural calamities.
Regarding imports the Agriculture Secretary said: We will definitely need additional volume for
import. But, NFA is in a position to monitor how much remains from previous years
importation.
Earlier this week the National Food Authority (NFA) noted that the country may not need
additional imports for the lean season (July - September) as the actual impact of El Nino was not
as severe as expected. It also noted that there were adequate stocks to meet the rice consumption
needs. The Food Security Committee said there is enough rice supply until the end of June 2016.
The NFA already imported 500,000 tons of rice from Thailand and the Philippines under G2G
deals. The rice is for delivery by March 2016.

Daily Exclusive ORYZA Rice E-Newsletter

Former Thai Premier Criticizes Government

Over Rice Case on Social Media
Jan 29, 2016

Former Thai Prime Minister Yingluck Shinawatra criticized the government for using an
administrative process rather than a court lawsuit to seek compensation from her in the ricepledging case on her Facebook and Twitter pages, according to Bangkok Post.
She said she was again appealing on social media because the government has not acknowledged
her six previous letters on the subject. She emphasized that the losses from the rice-pledging
scheme had not been accounted for correctly, and it was unfair to hold her solely responsible for
the losses. She sought protection until the legal case is in progress.
She earlier noted that a civil lawsuit in the Court would give her an opportunity to defend herself
whereas an administrative order would bypass courts. She emphasized that issuing an
administrative order would mean rushing through the legal processes and not letting her prove
her innocence.
However, Deputy Prime Minister had reiterated that the rice-pledging case against the former
Premier Yingluck Shinawatra is receiving fair treatment from the government and is in
compliance with the law.
The former Prime Minister is facing charges of dereliction of duty in preventing multi-billion
dollar graft in running the controversial rice pledging scheme introduced by her government in
October 2011. The scheme is estimated to have caused losses to the extent of about 500 billion
baht (around $14 billion) to the government. If proved guilty in the present case, she may have to
face imprisonment for ten years.

South Korea to Begin Rice Exports to China

in Mid-February 2016
Jan 29, 2016

South Korea is planning to begin rice exports to China in February 2016 after both the
governments agreed on a set of quarantine requirements after the South Korea-China summit
talks in October last year, Yonhap News quoted sources from the Ministry of Agriculture.

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Daily Exclusive ORYZA Rice E-Newsletter

The Ministry is planning to ship 30 tons of rice from the Gunsan port on the west coast this
week. The vessel will leave in early February and reach Shanghai in mid-February.
Ministry sources told reporters that after clearing Chinese customs procedures, the Korean rice
will be marketed at 69 outlets of the Shanghai Lotte Market. The Ministry is also reportedly
planning to hold promotional events in China between February and March this year.
The Korean government is planning to ship another 70 tons of rice to China in the middle of
February through Korea's Daewoo International Corp. and the China National Cereals, Oils and
Foodstuffs Corp. The government hopes to export a total of 2,000 tons of rice to China in 2016.
"Entering the Chinese market will be an opportunity for Korea's rice exports amid continued
imbalance in supply and demand of the key staple grain," said the Korean Agriculture Minister.

Thailand Hikes Paddy Rice Output Target on

Higher Demand Estimates
Jan 29, 2016

The government of Thailand has hiked the paddy rice output goal for the 2016-17 crop year to
around 27.17 million tons from the earlier target of 25 million tons based on higher demand
estimates, Reuters quoted the Commerce Ministry Permanent Secretary.
The Thai government revised the target after government officials and private sector
representatives met and re-evaluated the expected demand for Thai rice, according to a statement
from the Commerce Ministry.
The Ministry estimates Thailand's 2015-16 paddy rice output at around 27.06 million tons. The
output is said to have declined significantly over 2014-15 due to extending drought conditions.
The Thai Rice Exporters Association (TREA) is estimating Thailand to export 9 million tons of
rice in 2016, down from around 9.79 million tons exported in 2015.
Thailand still holds around 13 million tons of rice in its stockpiles

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Wholesale Basmati Rice Prices in India

Decline on Slackened Demand
Jan 29, 2016

Wholesale basmati rice prices in the national capital have declined today due to a slackened
demand from retailers, according to the Press Trust of India (PTI).
On January 29, 2016, prices of Pusa 1121 declined to around Rs.4,000 - 4,900 per quintal
(around $588 - $721 per ton) from around Rs.4,250 - 5,000 per quintal (around $626 - $751 per
ton) on January 21, 2016.
Prices of common basmati rice declined to around Rs.5,200 - 5,300 per quintal (around $765 $779 per ton) from previous levels of around Rs.5,300 - 5,400 per quintal (around $781 - $796
per ton).
"Sluggish demand against sufficient stocks position on higher supplies from producing belts mainly kept
pressure on rice basmati prices," traders were quoted as saying

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Oryza CBOT Rough Rice Futures Recap Chicago Rough Rice Futures Close Higher as
Market Gains Nearly $0.50/cwt on the Week;
Surprise Announcement by Bank of Japan
Sparks Broad Based Buying
Jan 30, 2016

Chicago rough rice futures for Mar delivery settled 4 cents per cwt (about $1 per ton) higher at
$11.350 per cwt (about $250 per ton). The other grains finished the day higher; Soybeans closed
about 1.7% higher at $8.8225 per bushel; wheat finished about 1.5% higher at $4.7925 per
bushel, and corn finished the day about 1.8% higher at $3.7200 per bushel.
U.S. stocks rose more than 1% Friday, the last trading day of January, after the Bank of Japan
unexpectedly adopted a negative interest rate policy for the first time. Encouraging earnings
reports, a better-than-expected Chicago PMI report and some stabilization in oil prices also
helped push equities higher. U.S. crude oil futures settled up 40 cents, or 1.20%, at $33.62 a
barrel, for its first four-day win streak since April. Global equities climbed after the Bank of
Japan's surprise announcement, with the Nikkei reversing mild losses to close up 2.8%. The
Shanghai composite closed 3.09% higher. European stocks ended more than 1% higher, with the
STOXX 600 up more than 2%.In early afternoon trade, the Dow Jones industrial average traded
up 275 points, or 1.71%, to 16,345. The S&P 500 traded up 31 points, or 1.65%, to 1,924, with
information technology leading all 10 sectors higher. The Nasdaq composite gained 65 points, or
1.46%, to 4,572. Gold is seen trading about 0.1% higher, crude oil is seen trading about 0.9%
higher, and the U.S. dollar is seen trading about 1.1% higher at about 2:00pm Chicago time.
Thursday, there were 935 contracts traded, down from 429 contracts traded on Wednesday. Open
interest the number of contracts outstanding on Thursday increased by 262 contracts to
13,381.

Thailand Rice Sellers Increase Some of Their

Quotes Today; Other Asia Rice Quotes
Unchanged
Jan 29, 2016

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Thailand rice sellers increased their quotes for premium rice (100% B) by about $5 per ton to
about $380-$390 per ton today. Asia rice sellers kept their quotes mostly unchanged
today.
5% Broken Rice
Thailand 5% rice is indicated at around $365 - $375 per ton, about $15 per ton premium on
Vietnam 5% rice shown at around $350 - $360 per ton. India 5% rice is indicated at around $355
- $365 per ton, about $15 per ton premium on Pakistan 5% rice shown at around $340 - $350 per
ton.
25% Broken Rice
Thailand 25% rice is indicated at around $350 - $360 per ton, about $10 per ton premium on
Vietnam 25% rice shown at around $340- $350 per ton. India 25% rice is indicated at around
$325 - $335 per ton, about $20 per ton premium on Pakistan 25% rice shown at around $305 $315 per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $370 - $380 per ton. India parboiled rice is
indicated at around $345 - $355 per ton, about $60 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 $320 - $330 per ton, on par with Vietnam
100% broken rice shown at around $320 - $330 per ton. India's 100% broken rice is shown at
around $260 - $270 per ton, about $30 per ton discount to Pakistan broken sortexed rice shown at
around $290 - $300 per ton.

Argentina Rice Exports Decline Sharply in

First Ten Months of 2015
Jan 29, 2016

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Argentina has exported around 267,466 tons of rice in the first ten months of 2015 (January October), down about 42% from around 458,950 tons exported during the same period in 2014,
according to data from the Ministry of Agriculture in Argentina.
In October 2015, Argentina exported around 51,959 tons of rice, up about 61% from around
32,236 tons exported in September 2015 and up about 4.5 times from around 11,607 tons
exported in October 2014.
Argentina exported around 42,200 tons of rice to Iraq (about 81% of total October 2015 exports),
around 5,175 tons of rice to Chile (about 10% of October 2015 exports), around 1,900 tons of
rice to Costa Rica (about 4% of October 2015 exports) and around 1,160 tons of rice to Brazil
(about 2% of October 2015 exports) in October 2015.
It exported the remaining 3% or around 1,524 tons of rice to Bolivia (551 tons), Canada (18
tons), U.S. (568 tons), Paraguay (160 tons), Nicaragua (200 tons), U.K. (25 tons), and Uruguay
(2 tons).

India Develops New Rice Variety with Higher

Protein Level
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The National Rice Research Institute (NRRI) in India has developed a new rice variety that is
enriched with higher level of protein compared to the traditional rice varieties, according to the
Times of India. The new variety is said to contain more than 10% protein content.
"The new variety will help in reducing malnutrition," said the Director of the NRRI. "This is a
major breakthrough in the field of rice research. Generally rice varieties have around 7%
protein," he added.
According to the NRRI Director, the new variety is developed by crossing a high protein and
lower yielding variety from Assam with Naveen, a high yielding variety. The new variety will
yield about five tons per hectare, he said.
He noted that the new variety would be sent for large scale seed production after getting approval
from the Central Variety Releasing Committee.
The Director also assured that the NRRI would enhance research in aromatic rice varieties.

South Korea Per Capita Rice Consumption

Reaches Record Low in 2015
Jan 29, 2016

South Korea's per capita rice consumption hit a record low in 2015 due to shifting preferences
for food, Yonhap News quoted the data from Statistics Korea.According to data from Statistics
Korea, the per capita rice consumption in the country fell to around 62.9 kilograms in 2015,
down about 3.4% from around 65.1 kilograms in 2014. The per capita rice consumption is
reportedly lowest since 1963 and more than half of around 136.4 kilograms in 1970 when the
consumption hit a record high.
The data shows that daily rice consumption per person also declined to around 172.4 grams in
2015 from around 178.2 grams in 2014."The steady drop can be attributed to people reducing
their rice intake and diversifying their diets with other alternative grains like wheat, barley,
beans, and corn," said the statistics agency.The agency data also shows that the per capita
consumption of non-rice grain increased to around 8.8 kilograms in 2015 from around 8.7
kilograms in 2014. The agency noted that the percentage of non-rice grains in the country's diet
has increased to around 12.3% last year from around 9.4% in 2011.
The South Korean government has been facing higher production and lower consumption of rice over
the last few years. In December last year, the government had decided to strike a balance between rice
supply and demand by 2018 through a gradual reduction in paddy production and an increase in
consumption
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