11th July, 2014 Daily Exclusive ORYZA E-Newsletter by Riceplus Magazine

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TOP Contents - Tailored for YOU
Latest News Headlines
Oryza Global Rice Quotes
Oryza Analysis on Impact of Indian Budgetary Proposals on Rice Sector
Oryza U.S. Rough Rice Recap Trading Slow as Differing Price Ideas Hold
Iraq Tenders to Buy 15,000 Tons of Rice
Oryza Rice Currency Analysis for Today India Rupee Falls 0.7%
Oryza Afternoon Recap Chicago Rough Rice Futures Finish the Day Unchanged Despite Continued
Bearishness in Grain Complex
Oryza Global Rice Weather
What Happens When India Rice Exports Decline amid Adverse Weather? Oryza Speaks with IGC Senior
Economist Darren Cooper
Thailand Will Recommence Rice Sales from August 2014, Says Commerce Ministry
Competing with Asia, Australia to Export Fragrant Rice Next Year
Oryza Overnight Recap - Chicago Rough Rice Futures Little Changed Overnight Following Yesterday's Steep
Sell-off; Grains Look to Recover Behind Recent Losses
Philippines Rice Stocks Stand at About 2.31 Million Tons as of June 1, 2014; Down 8% m/m and Down 0.3% y/y
Oryza Shares - Agriculture Highlights of India 2014-15 Financial Budget
FAO Estimates North Korea 2013-14 Paddy Rice Production at 2.9 Million Tons, Up 7% from Last Year
AO Estimates Mozambique 2014 Paddy Rice Production at 343,000 Tons; Down 2% from Last Year
IBGE Estimates Brazil 2014 Paddy Rice Production to Increase to 12.3 Million Tons; Up 4% from Last Year
South Korea Cannot Seek Another Waiver on Rice Market Liberalization, Says WTO Chief
Italian Agriculture Vice-Minister Reiterates Stance on Cambodia Rice Imports under EBA Clause
Thailand, Vietnam Rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged
News Detail
Oryza Global Rice Quotes


July 10th, 2014
Long grain white rice - high quality
Thailand 100% B grade 425-435
Vietnam 5% broken 415-425
India 5% broken 430-440
Pakistan 5% broken 435-445
Cambodia 5% broken 440-450
U.S. 4% broken 550-560
Uruguay 5% broken 625-635
Argentina 5% broken 620-630

Long grain white rice - low quality

Thailand 25% broken NQ
Pakistan 25% broken 380-390
Cambodia 25% broken 410-420
India 25% broken 390-400
U.S. 15% broken 530-540

Long grain parboiled rice
Thailand parboiled 100% stxd 430-440
Pakistan parboiled 5% broken stxd 435-445


India parboiled 5% broken stxd 415-425
U.S. parboiled 4% broken 630-640
Brazil parboiled 5% broken NQ
Uruguay parboiled 5% broken NQ

Long grain fragrant rice
Thailand Hommali 92% 985-995
Vietnam Jasmine 575-585
India basmati 2% broken NQ
Pakistan basmati 2% broken NQ
Cambodia Phka Malis 845-855

Brokens
Thailand A1 Super NQ
Pakistan 100% broken stxd 325-335
Cambodia A1 Super 350-360
India 100% Broken stxd 315-325
Egypt medium grain brokens NQ
U.S. pet food 470-480
Brazil half grain NQ
Medium grain milled
U.S. Calrose 4% broken 1025-1035
Egypt medium grain 6% NQ


All prices USD per ton, FOB vessel, oryza.com
Oryza Analysis on Impact of Indian Budgetary Proposals on Rice Sector
Jul 10, 2014
The first financial budget presented by the new government in India has given more importance to agricultural
growth. Oryza analyzes the impact of this budget on Indias rice sector particularly.A investment of Rs. 100
crores (around $16.3 million) for Agri-tech Infrastructure Fund could help boost rice mechanization in India,
a positive move for boosting rice production. Similarly, investment of Rs.56 crore (around $9.4 million)
towards setting up 100 Mobile Soil Testing Laboratories can help farmers perform soil testing for presence of
various metals, which could affect rice production. Setting up of National Adaptation Fund can aid rice
farmers in adapting to climate changes more efficiently.

Proposal of technology driven second green revolution is in the direction of increased rice production.Setting up
new Agriculture Universities in some states could provide incentives to more rice related research in the
country.A "Price Stabilization Fund can help rice farmers manage price fluctuation easily. Proposal to provide
institutional finance to landless farmers is also a complementing factor to increase production. The proposal to
invest Rs. 5,000 crore (around $836 million) towards the "Warehouse Infrastructure Fund" can improve post-
harvest facilities improving the quality of rice, especially that is aimed for exports. Overall, the 2014-15 India
financial budget seems to be promising for the rice sector, especially can help increase production with better
incomes and life styles to rice farmers. Prices could stabilize once supplies increase. Hopefully a bad weather
should not put its mark on India rice production this year.

Oryza U.S. Rough Rice Recap Trading Slow as Differing Price Ideas Hold

Jul 10, 2014
As of today, old crop offers could still be found as low as $15.55 per cwt fob farm (about $343 per ton) for July
shipment while others can be seen near $16.00 per cwt fob farm (about $355 per ton).Bids from exporters held
steady near $14.70 per cwt (about $324 per ton) for July delivery while some smaller mills were still said to
bidding around $15.90 per cwt (about $351 per ton) for the same delivery period although no trades were
reported.In the meantime, today the USDA reported that cumulative net export sales for the week ending on
July 3rd, totaled 77,400 tons, which was considerably higher than last week and 94% higher than the prior 4-
week average. Increases were reported for the following destinations including: 46,100 tons to Mexico, 12,000
tons to Japan, 8,200 tons to Guatemala including 7,500 tons switched from unknown destinations, 4,100 tons to
El Salvador, while decreased of 7,500 tons were reported for unknown destinations. Net sales of 100 tons for
2014/15 were reported for the United Arab Emirates. U.S. rice exporters shipped 35,100 tons, which was 30%
lower than the previous week and 34% lower than the prior 4-week average. The primary destinations included:
8,200 tons to Guatemala, 7,400 tons to Haiti, 5,300 tons to Costa Rica, 3,600 tons to El Salvador, and 3,200
tons to Mexico


Iraq Tenders to Buy 15,000 Tons of Rice
Jul 10, 2014
Iraqs General Contracts Department under the Ministry of Trade announced a tender to buy 15,000 tons of
parboiled basmati rice with specifications adopted by the Grain Board of Iraq. The closing date is July 21 at
10:00 am.

Oryza Rice Currency Analysis for Today India Rupee Falls 0.7%
Jul 10, 2014
U.S. dollar index was up +0.17% from the open today, when it traded at 80.129 at the close.
Euro was weaker -0.26% by the close, trading around 1.3606 by end of day, after trading between an intraday
high of 1.3651 and low of 1.3589.

Thai baht was weaker -0.02%, trading at 32.188 at the close of business.

Indian rupee was weaker -0.74% at 60.2050.

Brazilian real was weaker -0.36% at 2.2208 reais per dollar.

Pakistan rupee was +0.08% stronger at 98.6415.
Vietnamese dong was stronger +0.21% at 21203.
Mexican peso was weaker -0.12% today, when it traded at 12.9843 pesos per dollar by the close of business.
Chinese yuan was weaker -0.05% at 6.2021.
Argentine peso was weaker -0.04% at 8.1469 pesos per dollar
Oryza Afternoon Recap Chicago Rough Rice Futures Finish the Day Unchanged
Despite Continued Bearishness in Grain Complex
Jul 10, 2014
Chicago rough rice futures for September delivery settled unchanged at $13.455 per cwt (about $297 per ton).
The other grains finished the day lower; soybeans closed about 1% lower at $10.9300 per bushel; wheat settled
about 0.5% lower at $5.4850 per bushel, and corn finished the day about 1.3% lower at $3.9375 per bushel.U.S.
stocks retained slight losses on Thursday, recouping the bulk of a steep drop, as worry eased over trouble at one
of Portugal's top banks and its potential impact about the health of Europe's recovery.


Coming back from a 180-point deficit, the Dow Jones Industrial Average was lately down 35.82 points, or
0.2%, at 16,949.79. Energy led sector declines and utilities paced gains on the S&P 500, which dropped 3.92
points, or 0.2%, to 1,968.91. The Nasdaq declined 4.87 points, or 0.1%, to 4,414.15. Gold is trading about 1.1%
higher, crude oil is seen trading about 0.4% higher, and the U.S. dollar is seen trading about 0.2% higher
about 12:00pm Chicago time.Wednesday, there were 647 contracts traded, up from 462 contracts traded on
Tuesday. Open interest the number of contracts outstanding on Wednesday increased by 57 contracts to
8,108.
Oryza Global Rice Weather Outlook
Jul 10, 2014
Yangtze valley, Northern and South-western China can expect rainfall between Thursday and Monday. Eastern
and Northeast China are also expected to get uneven rainfall in the next four days. In southern China, heavy rain
showers last week benefitted late-season rice.

Isolated heavy rainfall is expected in most parts of Thailand in the next four days.

Mainly hot and humid weather is expected in most parts of Pakistan.

Light rain is expected to occur at a few places over Dhaka, Rajshahi, Rangpur, Khulna, Barisal and Chittagong
in Bangladesh today and tomorrow.

Heavy rain is expected in North Sumatera, North Kalimantan, North Maluku and West Papua in Indonesia from
July 10-12, 2014.
Heavy rainfall is expected to occur over some places in Southern and Western India between July 10-12, 2014.
Meanwhile, rainfall remained poor in central and western India last week, while it was near normal across
eastern rice areas.
Vietnam can expect rain on Thursday and Friday.
A few showers are expected in the Southeast U.S. on Friday. Seventeen percent of this years rice crop in U.S.
was at or beyond the heading stage by week end July 6, eight percent ahead of last year, according to the
USDA. Arkansas producers reported increased detection of blast and sheath blight besides damaged rice leaves
due to excessive rains late last week. Overall, 70% of the rice crop was reported in good to excellent condition,
slightly better than both last week and the previous year.


What Happens When India Rice Exports Decline amid Adverse Weather? Oryza
Speaks with IGC Senior Economist Darren Cooper
Jul 10, 2014

With impending El Nino between August and September 2014, and
consecutively below-average monsoon rainfall in India in June September,
India government authorities as well as rice market analysts across the world
are expecting a lower rice production from India. Yesterday, Wall Street
Journal quoted an India Food Ministry official saying that Indian government
could consider curb on rice exports if low monsoon rains dent Indias rice
production. With India occupying the worlds top rice exporter status for last
two years in 2012 and 2013, obviously the world is watching for the quantum
of rice exports from India this year as well. In these backdrops, Senior
Economist Darren Cooper from the International Grains Council (IGC) shared
his views on Indias rice exports with Oryza.

Oryza: Do you see any possibility that the I ndian government will impose
export restrictions on non-basmati rice in anticipation of lower production
due to an impending El Nino in August 2014?

Darren Cooper: At this stage, the monsoon is a major worry since cumulative rains are hugely below the long
term average. Lessons from the past tell us that restrictions might be under consideration if rains do not
improve and the main (kharif) rice crop is significantly below potential. However, an offsetting factor will be
the large centrally-held reserves of wheat and rice, but domestic market needs will be the priority moving
forward.

In the past two calendar years, India exported well in excess of 10 million tons of all varieties of rice. So
the point I would make here is that even if India's exports of rice fell by around 20% year-on-year in 2014, at
around 8 million tons, they would still be substantially higher than the average of past years. The next two
months through to mid-September will be crucial.

Oryza: What kind of restrictions are possible - an export ban or a Minimum Export Price (MEP) or
Quantitative restrictions or higher export taxes?

Darren Cooper: In this case, I think a minimum export price [MEP] is certainly a viable option, while
quantitative restrictions are also on the table for consideration - these were policy options taken up in past years
so I see no reason to expect anything different. However, this is mere conjecturing since we can't be sure until
we know more about crop prospects.


Oryza: Do you think I ndia can retain its top exporter status this year as well amid these circumstances?

Darren Cooper: In terms of the current calendar year, as at late June, we had expected India to remain its
position of top [rice] exporter, but the continued slow progress of the monsoon casts doubts on that. As of
today, the government of Thailand has announced its intention to begin selling, or should I say releasing
significant quantities, of rice from August onwards, using all appropriate avenues. This could be very timely for
Thailand since if India's [rice] crop is particularly disappointing and supplies tighten, then it could involve a
marked slowing in the pace of India's [rice] exports, if not restrictions. Accordingly, Thailand would be well
positioned to soak up any fresh global demand.

ryza: How much rice exports are you expecting from India this year?

Darren Cooper: As at end-June, the forecast of India's [rice] exports in 2014 was 9.7 million tons, a decline of
8% from the previous calendar year. As an aside, we were forecasting exports of 9.2 million tons by Thailand
in 2014, an increase of almost 40% from the year before.

Oryza: I f I ndia imposes export restrictions, how do you think will the global rice supply and prices be
impacted?

Darren Cooper: Hypothetically, if India did impose restrictions, then that would certainly add to upward
pressure in the world market for white and parboiled rice. The onus would be on other suppliers to try and fill
"the gap" or shortfall from India's absence. When we talk about other suppliers we are mostly referring to
Thailand - it is really the only player capable owing to large intervention reserves. Vietnam's ability to cover
would be limited given only small stocks.

Oryza: I n this scenario, do you see a possibility of downgrading of I ndian rice export sector?

Darren Cooper: Not a downgrading of the [rice] sector, but a changing of the rice market dynamics for the
foreseeable future.

Economist Bio - Darren Cooper has spent almost two decades in the commodities sector, in a range of roles,
covering different markets and industries, including mining and metals, tropical commodities, notably natural
rubber, as well as agriculture, particularly grains, rice and oilseeds. He has travelled extensively and presented


on a range of topics at many international conferences. He joined the International Grains Council in London in
2006 and holds a Master of Science degree in Economics.
Thailand Will Recommence Rice Sales from August 2014, Says Commerce Ministry

Jul 10, 2014
Thailand will likely resume selling rice stocks from the government warehouses from August, after the military
government suspended sales for conducting nation-wide inspections of rice stocks, according to the acting
Director-General (DG) of Thailand's Foreign Trade Department (FTD) under the Commerce Ministry, reports
Reuters.The acting DG-FTD noted that while the inspections are expected to finish by next month, they would
not wait until they are complete. She told Reuters that the Ministry aims to sell around 500,000 - 600,000 tons
of rice every month, including government-to-government (G2G) deals, adding that the Ministry is confident
that this quantity of rice sales is not significant to influence market prices negatively.

At this pace, "the Commerce Ministry would take about three years to release the 18 tons of stocks," she noted.
The acting DG-FTD also stated that a likely El Nino and a consequent reduction of rice production in major
exporting countries like India may be an advantage to Thailand to be able to offload its stocks as well as
boosting exports to around 10 million tons i n2014, up about 49% from around 6.7 million tons exported in
2013.However, the Thai Rice Exporters Association (TREA) and USDA expect Thailand to export around 9
million tons in 2014.
Competing with Asia, Australia to Export Fragrant Rice Next Year
Jul 10, 2014
In an exclusive interview to Oryza, Prof Robert Henry, Director
Queensland Alliance For Agriculture and Food Innovation, Australia,
talks about how Australia, which has never really been a rice-growing
country, could actually be exporting it on a large scale in about a year.
Excerpts from a Q & A
Oryza: We understand that you are doing copious research on
Wild Rice. Why did you choose Wild Rice and what are you
expecting to reap out of this research?
Prof Robert Henry: We at Queensland Alliance for Agriculture and
Food Innovation, Australia, have been working on Wild Rice,
especially found in Africa, South America and Australia. The rice
breed is interesting in its versatility. Evolutionary evidence suggests
that wild rice was found extensively in Africa and South America.
However, this particular rice is very Asian by nature. Rice wasnt


grown traditionally in Australia. The one found in Australia may have come from Asia, as recent as 100 years
ago. Working with taxonomists we have noticed that Wild Rice is blessed with a lot of diversity. This leads us
to believe that this rice could be useful for cross breeding, is ideal for capturing its good trait and understand its
diversity.

Oryza: Wild Rice is a comparatively a new discovery in the world of rice. What do you think took
researchers so long to get to it?

Prof Robert Henry: My team in Queensland, Australia, has found that Wild Rice is often found in lagoons
infested with crocodiles. That could be the reason why it has taken so long for the rice to make its way to the
dining table in Australia. Obviously, the crocodiles may have prevented people from exploring or accessing it.

Oryza: What is the purpose of this research on Wild Rice?

Prof Robert Henry: As plant pathologists, our attempt is to be able to cultivate it and taste it by next year. We
are working in a direction such that we have enough seed to grow it as well. We hope that the research results
can help us start a small rice industry in Australia. The other aim is to start cultivating rice on a commercial
level so that we can export rice. I am hopeful that by 2015, Australia could be exporting rice to the world rice
markets. Australias domestic rice market and consumption is negligible and therefore it is going to be fetching
to be able to export it. We hope that we can do more research on Wild Rice, so much that we can grow a new
kind of fragrant rice like Indias basmati which suits the worlds palate and has desirable traits such as low GI
index etc.

Oryza: What kind of support are you getting from government, universities and other collaborators?

Prof Robert Henry: The Australian government has been supportive on every front. They have given us land
to carry out experiments and have been creating opportunities to study the rice. We are working closely as a
consortium along with researchers from University of Arizona. We are also working with Advanta Seed
Company in Hyderabad, India; another international research body called ICRISAT (International Crops
Research Institute for the Semi-Arid Tropics) besides the Department of Biotechnology many academic groups
in New Delhi.

Oryza Overnight Recap - Chicago Rough Rice Futures Little Changed
Overnight Following Yesterday's Steep Sell-off; Grains Look to Recover
Behind Recent Losses

Jul 10, 2014


Chicago rough rice futures for Sep delivery were paused 0.5 cents per cwt (about $0.11 per ton) lower at $13.450 per cwt
(about $297 per ton) during the trading break in Chicago. The other grains are seen higher this morning ahead of floor
trading in Chicago: soybeans are currently seen about 0.6% higher, wheat is paused about 0.7% higher and corn is noted
about 0.2% higher.

U.S. stock index futures indicated a sharply lower open on Thursday, tracking European shares, after soft data from Italy
and as investors worried about one of Portugal's top banks. Stock futures remained steeply under water, offering no
reaction to U.S. economic data after the government reported 304,000 claims for jobless benefits were filed last week,
down 11,000 and better than expected.
In Europe, stocks from the euro zone's periphery led declines. Portugal's PSI 20 Index fell by around 3 percent amid
concerns about the health of the financial group Banco Espirito Santo. It comes after U.S. stocks climbed on Wednesday -
following two days of falls - as traders digested minutes from the Federal Open Market Committee which noted an
improving economy and labor market. They also revealed that the central bank planned to end its quantitative easing
program by October, and that - while it had no date to raise rates - it had been working on details of a plan to return to
normalcy.
Wholesale inventories data are due to be published at 10 a.m. ET, with consensus forecasts calling for a 0.5 percent
increase in inventories after a 1.1 percent increase in April. Kansas City Fed President Esther George and Dallas Fed
President Richard Fisher are also due to speak. US stock index futures are currently seen trading about 1% lower, gold is
currently trading about 1.2% higher, crude oil is seen trading about 0.3% lower, and the U.S. dollar is currently trading
about 0.2% higher at 8:45am Chicago time.

Philippines Rice Stocks Stand at About 2.31 Million Tons as of June 1, 2014; Down
8% m/m and Down 0.3% y/y
Jul 10, 2014

Total rice stocks in the Philippines as of June 1, 2014 reached around 2.306 million tons, down about 8.5%
from around 2.52 million tons recorded in May 2014, and down about 0.3% from around 2.313 million tons
recorded during the same period last year, according to the Bureau of Agricultural Statistics (BAS).


According to the BAS, household stocks (which account for about 47% of total rice stocks in the country) have
reached around 1.08 million tons as of June 1, 2014, up about 13% from year-ago levels of around 960,000
tons. Commercial warehouse rice stocks (which account for about 35.4% of total stocks) have reached around
820,000 tons as of June 1, 2014, up about 14% from around 720,000 tons recorded during the same period last
year. The rice stocks with the National Food Authority (NFA) (which account for 17.6% of total stocks) stood
at around 410,000 tons, down about 36% from around 640,000 tons recorded in June 2013.


Month-on-month, household rice stocks are down about 18%, NFA rice stocks - in which about 90.4% are
imported rice - are down about 13% and commercial warehouse rice stocks are up about 12% from the
previous month levels, according to the BAS. The BAS says that the Philippines' rice stocks as of June 1, 2014
are enough to last for 68 days (household stocks are enough for 32 days, commercial warehouses stocks are
enough for 24 days and stocks with NFA are enough for 12 days). According to the Philippiness government
measure of rice self-sufficiency, the rice inventory must be enough for more than 90 days.
Oryza Shares - Agriculture Highlights of India 2014-15 Financial Budget
Jul 10, 2014
The financial budget for FY 2014-15 (April - March) by the new government aims a sustainable agricultural growth of 4%
during the year. Below are the other highlights pertaining to agriculture, agricultural credit and food security in the India
financial budget 2014-15.
Agriculture
Government to establish two more Agricultural Research Institute of excellence in North-eastern state Assam and
Central state Jharkhand with an initial sum of Rs.100 crore (around $16.7 million).
An amount of Rs. 100 crores (around $16.3 million) set aside for Agri-tech Infrastructure Fund.
Rs. 200 crore (around $33.4 million) provided to open Agriculture Universities in Southern state Andhra Pradesh
and Western stare Rajasthan and Horticulture Universities in newly formed Southern state Telangana and North-western
state Haryana.
A scheme to provide every farmer a soil health card in a Mission mode will be launched.
Rs.100 crore (around $16.7 million) has been provided for this purpose and additional Rs.56 crores (around $9.4
million) to set up 100 Mobile Soil Testing Laboratories across the country.
To meet the vagaries of climate change a National Adaptation Fund with an initial sum an amount of Rs. 100
crore (around $16.7 million) will be set up.
Technology driven second green revolution with focus on higher productivity and including Protein revolution
will be area of major focus.
To mitigate the risk of Price volatility in the agriculture produce, a sum of Rs.500 crore (around $83.6 million) is
provided for establishing a Price Stabilization Fund.


Central Government to work closely with the State Governments to re-orient their respective Agricultural Produce
Market Committee (APMC) Acts.
Transformation plan to invigorate the warehousing sector and significantly improve post-harvest lending to
farmers.
Agriculture Credit
A target of Rs. 8 lakh crore (around $133.8 billion) has been set for agriculture credit during 2014-15.
To provide institutional finance to landless farmers, it is proposed to provide finance to 5 lakh joint farming groups
of Bhoomi Heen Kisan through the National Bank of Agriculture and Rural Development (NABARD).
Corpus of Rural Infrastructure Development Fund (RIDF) raised by an additional Rs. 5,000 crores (around $836
million) from the target given in the Interim Budget to Rs. 25,000 crores (around $4.2 billion).
Allocation of Rs. 5,000 crore (around $836 million) provided for the Warehouse Infrastructure Fund.
Long Term Rural Credit Fund to set up for the purpose of providing refinance support to Cooperative Banks and
Regional Rural Banks with an initial corpus of Rs.5,000 crore (around $836 million).
Food Security
Government committed to provide wheat and rice at reasonable prices to the weaker sections of the society.
FAO Estimates North Korea 2013-14 Paddy Rice Production at 2.9 Million Tons,
Up 7% from Last Year

Jul 10, 2014
The UN's Food and Agriculture Organization (FAO) has estimated North Korea MY 2013-14 (November - October)
Paddy production at around 2.9 million tons, up about 7% from around 2.7 million tons produced in the previous
year.Planting of the 2014 main season rice crop (mid-April - October) has begun in April and will continue till June.
Normal rains helped effective sowing and transplantation of rice plants in most parts. But delayed sowing and re-planting
in some parts due to insufficient rains in April are likely to negatively impact yields in 2014 main season rice crop.
USDA estimates North Korea 2014 (January - December) paddy rice production at around 2.9 million tons (around 1.88
million tons, basis milled), up about 7% from around 2.7 million tons (around 1.74 million tons, basis milled) produced in
2013. It estimates North Korea to import around 50,000 tons of rice in 2014, same as that in 2013.


AO Estimates Mozambique 2014 Paddy Rice Production at 343,000 Tons; Down 2%
from Last Year

Jul 10, 2014

The UN's Food and Agriculture Organization (FAO) has estimated Mozambique 2014 paddy rice production to
decline to around 343,000 tons (around 223,000 tons, basis milled), down about 2% from around 351,000 tons
(around 328,000 tons, basis milled).

The average retail rice prices in Mozambique remained at May 2014 levels of around Metical 25,000 (around
$800) per ton in June 2014, but declined by about 19% from around Metical 30,740 (around $1,030) per ton
from an year ago levels, according to the FAO.


USDA estimates Mozambique to produce around 351,000 tons of paddy rice (around 228,000 tons, basis
milled) and import around 475,000 tons of milled rice in MY 2014-15 (May 2014 - April 2015) to meet
consumption needs of around 703,000 tons.
IBGE Estimates Brazil 2014 Paddy Rice Production to Increase to 12.3 Million Tons;
Up 4% from Last Year

Jul 10, 2014
The Brazilian Institute of Geography and Statistics (IBGE) has estimated Brazil's 2014 paddy rice production to
increase to about 12.3 million tons, up about 4.23% from about 11.76 million tons produced in 2013, according
to a press release on its website.

The IBGE expects the average yield in 2014 to reach around 5.3 tons per hectare, up about 6% from around 5
tons per hectares achieved in 2013. Gauchos producers in recent years have worked to raise the average yield of
rice by improving planting techniques and cultural practices, according to the IBGE. The Institute also expects
the area harvested under rice to increase by about 2% in 2014 over last year.

The Rio Grande do Sul is the largest paddy producing region in Brazil and accounts for about 68.1% of Brazil's
total paddy rice production. The IBGE expects the region to achieve a yield of about 7.7 tons per hectare on an
area of around 1.12 million hectares.

In June 2014, Brazils National Grains Supply Company (Conab) has lowered its paddy rice production forecast
for 2013-14 to around 12.25 million tons, down about 3% from its previous estimate of around 12.632 million
tons, and up about 4% from about 11.82 million tons produced in 2012-13.

USDA estimates Brazil's milled rice production at around 8.6 million tons in MY 2013-14 (April 2014 - March
2015), up about 8% from around 8 million tons produced in MY 2012-13. Brazil's 2013-14 rice exports are
estimated at around 950,000 tons, up about 13% from around 840,000 tons exported in 2012-13. Brazil's 2013-
14 rice imports are estimated at around 700,000 tons, up about 9% from around 840,000 tons exported in 2012-
13.
South Korea Cannot Seek Another Waiver on Rice Market Liberalization,
Says WTO Chief


Jul 10, 2014
South Korean government is in a fix over opening its rice import market. It is leaning towards liberalizing the rice import
market as it wants to cut down on imports quantity in the light of declining consumption, but cannot do so as it is
obligated to import over 400,000 tons of rice annually under WTCO rules. If it seeks another waiver, it may have to cut
down on its own production to accommodate imports. However, farmers, who feel imports of too many agricultural
products are liberalized and are forced to compete with other countries' products, say rice import market should be
protected. The current waiver expires by the end of this year and South Korea needs to publicize its stance before that.

The World Trade Organization (WTO) Chief made it clear that WTO rules do not allow any country to seek a waiver for
second time under Annex 5 of the Agreement on Agriculture, but if the country insists over that, it has to negotiate with
other member states, and may have to pay a huge price by way of adhering to their demands on tariffication and other
compensation.

In an interview to a Korean news paper, the WTO Chief cited the example of the Philippines, which had recently
succeeded in seeking another waiver for opening its rice import market. He noted that the Philippines had to agree to
boost its imports under the Minimum Market Access (MMA) volume to over 800,000 tons from the existing 350,000 tons
as well as a wide range of benefits to each and every member, though the details of these bilateral agreements are not
disclosed.

According to the WTO quota agreement, South Korea was obligated to import 4% of its annual rice consumption for ten
years in 1993. The agreement was extended for another ten years in 2004 obligating the country to import 7.96% of
annual rice consumption.USDA estimates South Korea to imports around 410,000 tons of rice in MY 2013-14 (November
2013 - October 2014), down about 20% from 510,000 tons imported in MY 2012-13. Rice production in 2013-14 is
expected to reach around 4.2 million tons of rice in MY 2013-14, up 6% from 4 million tons in MY 2012-13. The
country's annual rice consumption is estimated at about 4.6 million tons in MY 2013-14, up about 2% from 4.5 million
tons in MY 2012-13.
Italian Agriculture Vice-Minister Reiterates Stance on Cambodia
Rice Imports under EBA Clause

Jul 10, 2014
Responding to the comments of Acting Secretary General of Cambodia Rice Federation David Vichet Van published by
Oryza on June 7, 2014, Italy's Vice-Minister for Agriculture reiterated that Italy would defend its rice sector that is vital
for their economy."We could not think that Cambodia was happy about our requests," said Italy's Vice-Minister. While


agreeing with David Van's comments that European production doesn't cover the requests of the European Union (EU), he
noted that they have a need to import rice to meet the consumption needs of the nation. He added that they do not want to
damage the Everything But Arms (EBA) clause for other countries and other items other than Asian imported rice.
He stated that Italy is obligated to continue rice production and protect rice acreage as part of the Common Agricultural
Policy (CAP) principles, which aim at guaranteeing Europe self-sufficiency of food, though the focus has shifted to
quantity to quality over the decades.The Vice-Minister noted that they are waiting for the appropriate time to submit the
Italian document about Cambodia to the EU. "We are waiting for the right moment, we are discussing the matter with
other partners," he said. The Head of the Rice Group of the EU said, "I understand the reasons of Cambodia, but our
reasons are also important for us. We will go ahead, anyway: at the moment, the market is not big enough for the two of
us."
Thailand, Vietnam Rice Sellers Increase Some of Their Quotes Today; Other
Asia Rice Quotes Unchanged
Jul 10, 2014
Thailand rice sellers increased their quotes for 5% broken rice by about $5 per ton to around $410- $420 per ton today.
Vietnam rice sellers increased their quotes for 25% broken rice by about $5 per ton to around $365 - $375 per ton. Other
Asia rice sellers kept their quotes mostly unchanged.
5% Broken Rice
Thai 5% rice (of new crop) is quoted at around $410 - $420 per ton, up about $5 per ton from yesterday and about $5 per
ton discount to Viet 5% rice (of new crop) quoted at around $415 - $425 per ton.

Indian 5% rice is quoted at around $430 - $440 per ton, about $5 per ton discount to Pak 5% rice quoted at around $435 -
$445 per ton.

25% Broken Rice

Thai 25% rice (of the old crop) was last quoted at around $350 - $360 per ton, about $15 per ton discount to Viet 25% rice
(of new crop) shown about $365 - $375 per ton, down about $5 per ton from yesterday.
Indian 25% rice is quoted at around $390 - $400 per ton, about $10 per ton premium on Pak 25% quoted at around $380 -
$390 per ton.

Parboiled Rice
Thai parboiled rice (of the old crop) is quoted at around $430 - $440 per ton.
Indian parboiled rice is quoted at around $415 - $4205 per ton, about $20 per ton discount to Pak parboiled rice quoted at
around $435 - $445 per ton.

100% Broken Rice

Thai broken rice, A1 Super, (of the old crop) was last quoted at around $310 - $320 per ton, about $20 per ton discount to
Viet broken rice (of new crop) shown at around $330 - $340 per ton.Indian broken sortexed rice is quoted at around $315
- $325 per ton, about $10 per ton discount to Pak broken sortexed rice quoted at around $325 - $335 per ton.

11th July, 2014 Daily Exclusive ORYZA E-Newsletter by Riceplus Magazine

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11th July, 2014 Daily Exclusive ORYZA E-Newsletter by Riceplus Magazine

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Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.

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