12th January, 2015 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

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Daily
January 1, 2015
Exclusive ORYZA E-Newsletter
DAILYCompiled
EXCLUSIVE
ORYZA E-NEWSLETTER
& Edited by Riceplus Magazine
January 12, 2015

Vol 5, Issue I
Riceplus Magazine wwww.ricepluss.com

mujahid.riceplus@gmail.com Cell: +92 321 369 2874
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January 1, 2015
DAILY EXCLUSIVE ORYZA E-NEWSLETTER

News Headlines
Bangladesh Offers to Sell Rice to India at $425-$430 per Ton

India Rice Sellers Increase Most of Their Quotes; Pakistan
Rice Sellers Lower Some of Their Quotes Today
Falling Oil Prices May Impact 2015 Thai Rice Exports to
Africa
Brazil Paddy Rice Index Declines Slightly from Last Week
FAO Global Rice Price Index Declines 4% m/m to 224 Points
in December 2014
Niger Government Collaborates with IFAD to Develop Rice
Value Chain
Italy Rice Exports to Non-EU Countries Reach 54,611 Tons
in September 1, 2014 - January 6, 2015; Up 69% from Last
Year
Oryza Overnight Recap - Chicago Rough Rice Futures Look
to Rebound from Steep Losses Sustained Yesterday on
Support from Firmer Grains and Softer Dollar
Oryza U.S. Rough Rice Recap - Subdued Market amid
Limited Buy/Sell Interest
Indonesia Begins Bulog Operational Restructure; Reinstates
Older Duties
Oryza Afternoon Recap - Chicago Rough Rice Futures Finish
the Day Slightly Higher but End Week with a Loss
Vietnam Cuts Floor Price of Lower Quality Rice Exports
Vietnam Exports 495,457 Tons of Rice in November 2014;
Down 17% m/m and Up 22% y/y
Thai Ex-Premier Defends Rice Pledging Case Before NLA;
Denies All Charges
Weekly Recap: Oryza White Rice Index Continues Lower as
Vietnam, Pakistan Reduce Quotes
News Detail
Bangladesh Offers to Sell Rice to India at

$425-$430 per Ton
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January 1, 2015
Jan 09, 2015
Bangladesh has sent its intent to sell rice to India

through its Ministry of Foreign Affairs and is awaiting
India's response on the same, according to local
sources.A Joint Secretary of the Ministry of Food (MoF)
told local sources, Bangladesh acted to India's interest to
import around 20,000 - 30,000 tons of rice from the
neighboring country. He noted that they received India's
interest through a letter on December 17, 2014 and they
responded with price proposals on December 21, 2014.
Bangladesh has reportedly proposed to export coarse variety boiled rice to India at about $425$430 per ton (CIF basis).
Bangladesh has recently signed a government-to-government (G2G) agreement with Sri Lanka
to export 50,000 tons of rice at around $450 per ton.The government has assured that the current
rice stocks are adequate to meet the country's consumption needs despite exporting rice to Sri
Lanka and India. According to the Ministry of Food, the country has around 1.17 million tons of
rice stocks as on January 5, 2014, up about 73% from stocks of about 677,930 tons during same
period last year. Bangladesh produced around 34.449 million tons of rice, basis milled, in FY
2013-14 (July - June), up about 2.7% from around 33.833 million tons produced in FY 2012-13,
according to Department of Agriculture Extension (DAE) data.
India is planning rice to import rice to overcome shortages due to transportation disruptions from
the proposed railway conversion works on a 220-kilometer line between the North-eastern states
Assam and Tripura, according to official sources. Earlier, officials from the Food Corporation of
India (FCI) officials noted that transporting rice within India would prove costlier than importing
from Myanmar or Bangladesh.
India Rice Sellers Increase Most of Their

Quotes; Pakistan Rice Sellers Lower Some of
Their Quotes Today
Jan 09, 2015
India rice sellers increased most of their quotes by about $5 per ton today. Pakistan rice sellers
lowered their quotes for 5% broken rice and parboiled rice by about $5 per ton each to
around $370 - $380 per ton and around $400 - $410 per ton respectively. Other Asia rice sellers
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kept their quotes mostly unchanged today.

5% Broken Rice
Thailand 5% rice is quoted at around $405 - $415 per ton, about $30 per ton premium on
Vietnam 5% rice shown at around $375 - $385 per ton. India 5% rice is quoted at around $390 $400 per ton, up about $5 per ton from yesterday and about $20 per ton premium on Pakistan 5%
rice quoted at around $370 - $380 per ton, down about $5 per ton from yesterday.
25% Broken Rice
Thailand 25% rice was last quoted at around $350 - $360 per ton, about $5 per ton premium on
Vietnam 25% rice shown at around $345 - $355 per ton. India 25% rice is quoted at around $355
- $365, up about $5 per ton from yesterday and about $30 per ton premium on Pakistan 25% rice
quoted at around $325 - $335 per ton.
Parboiled Rice
Thailand parboiled rice is quoted at around $405 - $415 per ton. India parboiled rice is quoted at
around $380 - $390 per ton, up about $5 per ton from yesterday and about $20 per ton discount
to Pakistan parboiled rice quoted at around $400 - $410 per ton, down about $5 per ton from
yesterday.
100% Broken Rice
Thailand broken rice, A1 Super, is quoted at around $330 - $340 per ton, about $5 per ton
premium on Vietnam 100% broken rice shown at around $325 - $335 per ton. India's 100%
broken rice is shown at around $300 - $310 per ton, up about $5 per ton from yesterday and
about $10 per ton premium on Pakistan broken sortexed rice quoted at around $290 - $300 per
ton, down about $10 per ton from yesterday.
Falling Oil Prices May Impact 2015 Thai

Rice Exports to Africa
Jan 09, 2015
A report by the Thai National Shippers Council (TNSC) noted that relentlessly falling oil prices
may lead to a decline in Thai rice exports to African countries like Nigeria, 90% of whose
national income depends on oil exports, according to local sources.Oil prices have been falling
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January 1, 2015

since October 2014 due to increasing production and
supplies. WTI crude oil price fell to around $48.79 per
barrel from around $85 per barrel three months ago; and
Brent crude oil price fell to around $50.96 per ton from
around $91.6 in October 2014. Analysts are expecting
further fall in oil prices as North American shale
producers and OPEC countries are reluctant to cut
production for the next few months.
In this scenario, the report predicted that Thai rice exports in 2015 are likely to fall below the
2014 level of around 10.5 million tons due to an expected decline in exports of parboiled rice to
Nigeria and other African countries. It noted that low oil prices are impacting the purchasing
power of major rice importers. Exporters are particularly concerned of fall in shipments to
Nigeria, which is a major rice importer in Africa, says the report.Thailands rice exports to
Nigeria also assume significance in the light of a bilateral agreement between Thailand and
Nigeria under which both the countries have agreed under a to double trade, including rice,
between them from around $1.5 billion to around $3 billion over the next five years.On the other
hand Nigeria is also keen on achieving self-sufficiency in rice production and reducing rice
imports over the next few years. The government has been encouraging public and private
investments in the country's rice sector to achieve the target.
Thailand targets to export around 11 million tons of rice in 2015. The South-east nations rice
exports bounced back in 2014 after being severely impacted in 2012 and 2013 by a controversial
rice pledging scheme introduced by the previous government in October 2011. The former Prime
Minister facing charges of dereliction of duty in the implementation of the scheme.
Brazil Paddy
Rice Index
Declines
Slightly from
Last Week
The Brazilian paddy rice
index maintained by CEPEA
reached around 38 real per 50
kilograms as of January 8,
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January 1, 2015
2015, down about 0.11% from around 38.04 real per 50 kilograms recorded on January 2,
2015.In terms of USD per ton, the index reached around $282.4 per ton on January 8, 2015,
down about 0.07% from around $282.6 per ton recorded on January 2, 2015.
FAO Global Rice Price Index Declines 4%

m/m to 224 Points in December 2014
Jan 09, 2015
The FAO All Rice Price

Index declined to around
224 points in December
2014, down about 4%
from around 233 points in
November 2014 due to
decline in all sub indices,
including Higher and
Lower Quality Indica as
well as Aromatic and
Japonica sub-indices.
Aromatic sub-index witnessed highest decline of about 24 points, or 11% reaching to around 187
points in December 2014 from around 211 points in November 2014. The decline is largest since
November 2007, according to the FAO. Japonica sub-index declined about 2% or 6 points to
around 283 points this month from around 289 points last month. Higher Quality Indica subindex declined by about 4 points, or about 2% to around 195 points in December 2014, from
around 199 points last month. Lower Quality Indica sub-index declined by about 9 points, or
about 4.5% to around 191 points this month from around 200 points last month.
In January - December 2014, the FAO All Rice Price Index averaged 235 points, slightly up
from around 233 points during the same period in 2013. Sub index for higher quality Indica rice
prices declined about 5.7% y/y and sub index for lower quality Indica prices declined about 11%
y/y. Aromatic rice price sub index declined about 5% y/y. However, sub index for Japonica rice
prices increased about 15.6% y/y.
According to the FAO, rice export prices in the Asian origins such as Vietnam, India and
Pakistan declined in December 2014 due to increased supplies from new harvest and stiff
competition between them. However, Thai rice export prices remained relatively stable during
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January 1, 2015
the month, says the FAO. Export prices of U.S. origin rice declined and Uruguay origins
remained unchanged.
During December 2014, average rice export prices of Thai 100% broken remained unchanged at
around $427 per ton; Thai 5% broken prices also remained unchanged around $418 per ton;
Prices of Thai parboiled rice, Thai 25% broken rice, Thai fragrant rice and Thai A1 Super
declined slightly to around $418 per ton, $398 per ton, $1,058 per ton and $332 per ton
respectively.
Export prices of Vietnam and India 25% broken rice declined about 6% m/m and 3% m/m to
around $355 per ton and $350 per ton respectively. Rice export prices in of Pakistan 25% broken
rice declined by about 6% m/m to around $331 per ton; and export prices of the U.S. rice
declined about 4% to around $518 per ton. However, those in Uruguay remained unchanged at
around $600 per ton
Niger Government Collaborates with IFAD

to Develop Rice Value Chain
Jan 09, 2015
The government of Niger has collaborated with the International Fund for Agriculture
Development (IFAD) to develop rice production and value chain, according to local sources.The
IFAD would provide N328 million (around $591,741) annually for next six years, while the
government would budget around N79.4 million (around $143,245) per annum for the next six
years towards the development of rice and cassava value chain in the country, according to the

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January 1, 2015
Commissioner for Agriculture and Rural Development.

He told media reporters that the collaboration would improve standard of living of farmers in the
country. He noted that the three local governments of Katcha, Bida and Wushishi would actively
participate in the project.Niger is a net importer of rice and imports about 92% of its annual rice
consumption needs. USDA estimates Niger to produce around 26,000 tons of rice, basis
milled, and import around 310,000 tons of rice in MY 2014-15 (October - September) to meet a
consumption demand of around 336,000 tons.
Italy Rice Exports to Non-EU Countries

Reach 54,611 Tons in September 1, 2014 January 6, 2015; Up 69% from Last Year
Jan 09, 2015
Italy's rice exports to non-EU countries in the period

September 1, 2014 - January 6, 2015 have reached around
54,611 tons, up about 69% from around 32,325 tons
exported during the same period last year, according to data
from the Ministry of Economic Development. Turkey,
Switzerland and the U.S. accounted for most of the exports
so far in 2014-15. Italy's rice exports to Turkey so far this
year increased by about 3.5 times to around 28,219 tons
from around 8,311 of rice exported last year. Exports to
Switzerland during the period increased about 19% to
around 5,309 tons from around 4,463 tons last year.
However, Italy's exports to the U.S declined about 6% to
around 3,912 tons from around 4,167 tons last year.Exports
of Long A varieties in September 1, 2014 - January 6, 2015
almost doubled to around 43,251 tons from around 22,373
tons last year. Exports of round varieties increased about
11% to around 6,242 tons from around 5,609 tons last year.
Exports of medium varieties increased about three times to around 2,141 tons from around 757
tons last year. However, exports of Long B varieties declined about 17% to around 2,977 tons
from around 3,592 tons last year.

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January 1, 2015
Oryza Overnight Recap - Chicago Rough

Rice Futures Look to Rebound from Steep
Losses Sustained Yesterday on Support from
Firmer Grains and Softer Dollar
Jan 09, 2015
Chicago rough rice futures for Mar delivery are currently trading 5.5 cents per cwt (about $1 per
ton) higher at $11.580 per cwt (about $255 per ton) during early floor trading in Chicago. The
other grains are seen trading mostly higher: soybeans are currently seen 0.1% higher, wheat is
listed about 0.3% lower and corn is currently noted about 0.6% higher.U.S. stocks opened little
changed to slightly higher on Friday as the December jobs report topped expectations and hourly
earnings declined, furthering the argument for the Federal Reserve to keep interest rates low
even as economy grows.
The figures from the Labor Department had the U.S. economy adding 252,000 to payrolls last
month, and prompted stock-index futures to reverse higher ahead of the open. The Dow Jones
Industrial Average opened near unchanged. The S&P 500 added about 0.2%, and the Nasdaq
gained 0.3%. U.S. stocks surged for a second day on Thursday, with benchmarks turning higher
for the year, as oil steadied and on thinking the Federal Reserve and the European Central Bank
would buttress the global economy. Gold is currently trading about 0.4% higher, crude oil is seen
trading about 0.6% lower, and the U.S. dollar is currently trading about 0.1% lower at 10:10am
Chicago time.
Oryza U.S. Rough Rice Recap - Subdued

Market amid Limited Buy/Sell Interest

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Jan 09, 2015
The U.S. cash market was subdued today with little to no trading to report as buyer and seller
price ideas remain at odds ahead of the USDAs WASDE report due out on Monday.Analysts
contend that farmers who have yet to sell are waiting for prices improve while buyers continue to
be hand to mouth as it has paid them well to do so this year.
Most farmers are still hoping to net $12.22 per cwt fob farm (about $270 per ton) while buyers
are bidding closer to $11.50-$11.75 per cwt (about $254-$259 per ton) which is generating
limited sell interest.
Indonesia Begins Bulog Operational

Restructure; Reinstates Older Duties
Jan 09, 2015

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The Indonesian government has extended the responsibilities of its State Logistics Company
Bulog by reinstating some of its older duties and responsibilities, which were removed under a
reform program as mandated by the International Monetary Fund (IMF), according to local
sources.Bulog will now again continue to function as a buffer stock agency like pre-1998 period
and will involve in buying rice and other agricultural products at reasonable prices (to ensure
sufficient incomes to farmers) as well as maintain price stability of these products, according to
the State-Owned Enterprises (SOEs) Minister.
Bulog is now obligated to maintain supply and price stability of prices of seven commodities,
including rice, corn, soybeans, sugar, chilli and beef. The number of commodities has been
raised to seven from five, according to the Minister. Chilli and onions have been added newly to
Bulog's commodity list. Bulog is also entrusted with the responsibility of importing a particular
commodity if need arises. Imports are mainly for ensuring adequate stocks and stabilizing
prices.
As part of the efforts to widen the scope Bulog's duties and restructure its operations, the
Indonesian government has appointed a new President, who said she will particularly focus on
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rice, soybeans and onions.

The Bulog revamp is part of the new government's efforts to achieve self-sufficiency in basic
food items such as rice, corn and sugar. The new President is keen on ending rice imports within
the next two years. In line with its targets, the government is planning to rehabilitate around one
million hectares of tertiary irrigation channels for paddy production and distribute 25,000 tons of
subsidized seeds and subsidized fertilizer for around one million hectares of paddy fields. The
government has allocated around Rp 2 trillion ($163.8 million) for the purpose.
USDA estimates Indonesia to produce around 36.5 million tons of rice, basis milled (around
57.48 million tons, basis paddy) and import around 1.3 million tons of rice in MY 2014-15
(January 2015 - December 2015).
Oryza Afternoon Recap - Chicago Rough

Rice Futures Finish the Day Slightly Higher
but End Week with a Loss
Jan 09, 2015
Chicago rough rice futures for Mar delivery settled 2 cents per cwt (about $0.44 per ton) higher
at $11.545 per cwt (about $255 per ton). Rough rice futures moved slightly higher today as
traders took advantage of yesterdays decline in prices to make last minute adjustments to their
holdings ahead of Mondays USDA S&D update. Technically the market shows little signs of
upward potential and the bearish tilt remains in effect. The other grains closed mostly higher
today; Soybeans closed about 0.4% higher at $10.5225 per bushel; wheat finished about 0.6%
lower at $5.6375 per bushel, and corn finished the day about 1.5% higher at $4.0025 per bushel.
U.S. stocks dropped on Friday, pulling benchmarks back into the red for the year, as the
December jobs report topped expectations but hourly earnings declined, with crude falling nearly
2%.Investors also tracked events in France after Wednesday's massacre at Charlie Hebdo
magazine in Paris. The figures from the Labor Department had the U.S. economy adding
252,000 to payrolls last month, and the November already robust gain revised higher, to 353,000,
prompting stock-index futures to reverse higher ahead of the open. But the enthusiasm proved
short lived. Another economic report had wholesale inventories climbing 0.8% in November,
above estimates. Quickly erasing a 7-point opening gain, the Dow Jones Industrial Average
dropped as much as 221 points, and was lately down 126.12 points, or 0.7%, at 17,781.35. The
S&P 500 shed 13.13 points, or 0.6%, to 2,049.01, with financials and energy leading declines
among its 10 major sectors, all of which fell. The Nasdaq declined 23.51 points, or 0.5%, to
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4,712.68. Gold is trading about 0.7% higher, crude oil is seen trading about 0.8% lower, and the
U.S. dollar is seen trading about 0.5% lower at about 1:00pm Chicago time.
Thursday, there were 388 contracts traded, up from 255 contracts traded on Wednesday. Open
interest the number of contracts outstanding on Thursday increased by 1 contract to 8,764.
Oryza December 2014 Rice Market Review

Jan 08, 2015
The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes,
ended the month of December at about $431 per ton, down about $6 per ton from a month ago
and down about $32 per ton from a year ago.
Thailand
Thailand 5% broken rice ended the month of December at about $410 per ton, unchanged from a

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month ago, and down about 4% per ton from a year ago.
FAO has forecast Thailand will reclaim the world's top rice exporter status in 2014. According to
the agency, Thai rice exports to West and Southern African countries and Far Eastern nations
have increased significantly. FAO is estimating Thailand's rice exports will increase about 53%
y/y to about 10.2 million tons in 2014. The agency noted that Thai exports will further increase
to 11 million tons in 2015 despite a likely dent in local production due to water
shortages. Meanwhile, the Thai Rice Exporters Association (TREA) President said that
Thailand's rice exports would reach about 10.2-10.5 million tons in 2014 and expressed
confidence that the Southeast Asian nation would reclaim the world's top rice exporter this year.
Thailand exported about 10.07 million tons of rice between January 1 - December 2, 2014, up
about 67% over 6 million tons exported last year, according to TREA.
Thailand has also signed a memorandum of understanding (MoU) with China to export two
million tons of rice next year in Bangkok during the two-day Greater Mekong Sub-region (GMS)
summit December 2014, according to local sources.
While Thailands rice stocks remain high, Thailand sold about 348,000 tons of rice worth 3.6
billion baht (about $81 million) in the last three auctions. Meanwhile, the Thai Commerce
Ministry has also approved to sell about 273,295 tons of rice worth 2.22 billion baht (about $67.5
million) in fourth auction, which was scheduled in late December, according to Bloomberg. The
government still has about 17.8 million tons of rice in its stockpiles. Of the stockpiled rice, about
16.7 million tons of rice is fit to be sold, the Thai Prime Minister said.
The Thailand government is planning to speed up the stockpiled rice sales process, according to
local sources. The Commerce Ministry has reportedly submitted a rice sales framework for 2015
to the National Rice Policy and Management Committee (NRPMC). It is keen on selling the
entire stock of rice as early as possible as well as increasing the efficiency of rice management.
Separately, the Rice Policy and Management Committee, headed by the Thai Prime Minister, has
approved the on-farm pledging program for paddy main-crop (October 2014 - September
2015) for fragrant and glutinous rice on November 5, 2014, to limit downward pressure on
prices during the harvest time, according to the USDA. The program is called Farmer Loans to
Delay the Sales of Rice Paddy for MY2014/15 Main-Crop Fragrant and Glutinous Rice Paddy
and is open till February 2015. The government expects to collect about 2 million tons of paddy
under the program due to high intervention prices. The government is planning to buy fragrant
rice paddy at prices about 23% higher than market prices and glutinous rice paddy at prices about
41% higher than market prices and auction the collected rice in after February 2015 when the
program ends. The government is expected to spend about 29 billion baht (about $921 million)

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on the program.
A nail-in-the coffin statement says, the recent government intervention schemes in Thailand
have proved to be short-term measures to appease farmers and lacked focus on sustainable longterm measures to increase competitiveness of the sector, said experts from the International
Trade Studies Center of the University of the Thai Chamber of Commerce (ITSC-UTCC) and the
Thailand Development Research Institute (TDRI).
India
India 5% broken rice ended the month of December at about $390 per ton, down about 1% per
ton from a month ago and down about 5% per ton from a year ago.
India average wholesale rice prices have declined in December 2014 for the second consecutive
month amid increasing supplies from the ongoing harvests of the kharif main rice crop (June December). Average monthly wholesale rice prices in India declined to about Rs.2,730 per
quintal (about $427 per ton) in December 2014, down about 1.8% from about Rs.2,779 per
quintal (about $448 per ton) in November 2014, and down about 7% from about Rs.2,941 per
quintal (about $476 per ton) in December 2013.
The USDA has estimated India's MY 2014-15 (October - September) rice exports at about 8.7
million tons, down about 16% from an estimated 10.3 million tons last year due to anticipated
decline in supplies from low production and competition from other rice exporting countries.
Based on preliminary export figures, India's rice exports during January-October 2014 stood at
about 8.8 million tons, down about 1% from about 8.9 million tons exported during the same
period last year.
Separately, Iran imposed ban on rice import in November citing excess stocks as reason which
hurt Indian exporters very badly. Iran's basmati rice exports from India have been increasing
significantly for the last few years. In 2013-14, Iran's basmati rice imports from India accounted
for about 1.45 million tons or about 85% of its total rice imports of about 1.7 million tons. Indian
Basmati rice export prices this year fell to about $900 per ton, down about 36% from about
$1,400 per ton last year, according to local sources. The decline is largely attributed to an
expected increase in basmati rice production and decline in export demand, particularly from
Iran.
Separately, the USDA estimates MY 2014-15 rice production at about 102 million tons based on
government procurement and early market arrival trends. Harvesting of the Kharif rice crop is
almost complete and planting for Rabi rice crop is just beginning in north-eastern states. The
government of India procured about 14.918 million tons of rice as of January 1, 2015 in KMS
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2014-15 (October 2014 - September 2015). The government is targeting to procure 30.05 million
tons of rice, from the Kharif crop only, during the KMS 2014-15.
Meanwhile, Indias rice stocks in the central pool as of December 1, 2014 stood at about 21.57
million tons (including a milled equivalent of about 16.89 million tons of paddy), down about
23% from about 28.19 million tons recorded during the same time last year, according to data
from the Food Corporation of India (FCI). However, current rice stocks are about 45% more than
the required buffer and strategic reserve norms of about 11.8 million tons for this time of the
year, according to the FCI.
Vietnam
Vietnam 5% broken rice ended the month of December at about $385 per ton, down about 1%
per ton from a month ago and down about 6% per ton from a year ago.
Vietnam exported about 6.036 million tons of rice during January 1 - December 26, 2014, down
about 10% from about 6.71 million tons of rice exported in full year of 2013, according to data
from the Vietnam Food Association (VFA). The average rice export price so far in this year
stands at about $440 per ton (FOB), up about 1.6% per ton from about $433 per ton recorded
same time last year.
The VFA is targeting to export between 7 million tons and 7.5 million tons of rice (including
about 6.7 million tons of official and about 300,000 - 800,000 tons of non-official exports to
China) in 2015, according to Reuters. According to the information on the Vietnam Customs
Department website, Vietnam is expected to export about 2.4 million tons of rice to China (both
official and unofficial), about 1 million tons to Indonesia, about 500,000 tons - 1.1 million tons
to Malaysia and about 1.5 million tons of rice to the Philippines this year. Meanwhile, the
Agriculture Ministry of Vietnam said that Vietnam's total paddy production in 2014 would reach
about 44.84 million tons (about 28 million tons, basis milled), up about 1.8% from about 44
million tons (about 27.5 million tons, basis milled) produced in 2013. The Ministry added
Vietnam's rice exports in 2014 are expected to reach about 6.53 million tons, down about 0.9%
from about 6.59 million tons in 2013 due to a stiff competition from other exporting nations such
as Thailand and India.
Separately, the World Trade Organization (WTO) Center in Vietnam has urged the government
of Vietnam to reduce and eventually stop cross-border export and import transaction with China
in order to reduce its ballooning trade gap with China, according to local sources.
Pakistan

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Pakistan 5% broken rice ended the month of December at about $385 per ton, unchanged from a
month ago and down about 1% per ton from a year ago.
Pakistan exported about 459,419 tons of rice in November 2014, up about 58% from about
289,884 tons exported in October 2014, according to provisional data from the Pakistan Bureau
of Statistics (PBS). In terms of value, Pakistan's rice export earnings increased to about $221.2
million in November 2014, up about 43% from about $154.7 million earned in October 2014.
Meanwhile, the National Space Agency of Pakistan (SUPARCO) and FAO have estimated
Pakistan FY 2014-15 (July - June) paddy rice production to decline about 19% to about 8.437
million tons (about 5.65 million tons, basis milled) from about 10.04 million tons (about 6.72
million tons, basis milled) produced last year. The decline is attributed to floods that hit the
Punjab state in the month of August having damaged about 116,700 hectares of paddy fields.
Over 217,000 tons of paddy was said to be lost in the Punjab state.
Separately, Pakistan rice exporters are hopeful of resuming basmati rice exports to Mexico,
which banned basmati rice shipments from Pakistan in June 2013 after finding traces of Khapra
beetle in some shipments of Pakistan, according to local sources.
The Rice Exporters Association of Pakistan (REAP) is also seeking government support to
increase rice exports to existing markets such as China, Malaysia, Indonesia, Kenya, Iran and
Iraq as well as in exploring new markets, according to local sources.
Cambodia
Cambodia 5% broken rice ended the month of December at about $465 per ton, up about 1% per
ton from a month ago and unchanged from a year ago.
Cambodia exported about 387,061 tons of rice in calendar year 2014, up about 2% from about
378,856 tons rice exported in the same period last year, according to local sources. Cambodia is
targeting to export about one million tons rice in 2015. However, Price Minister of Cambodia
said that the country is unlikely to achieve the self-imposed target due to a lack of milling
capacity and funding.
South & Central America
Brazil 5% broken rice ended the month of December at about $550 per ton, unchanged from a
month ago and down about 20% per ton from a year ago. Brazils National Grains Supply
Company (Conab) has forecasted the country's 2014-15 paddy rice production at about 12.21
million tons, slightly up from about 12.12 million tons in 2013-14. Conab lowered its projections
for Brazil 2014-15 paddy rice production by about 2.3% from its last month's projection of about
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12.51 million tons. Separately, Brazil has exported about 1.19 million tons of rice in January November 2014, according to data released by the country's Rice Institute Rio Grande do Sul.
Five percent broken rice from Uruguay and Argentina ended the month of December at about
$600 per ton, unchanged from a month ago and down about 5% per ton from a year ago.
Argentina has exported about 447,333 tons of rice in the first nine months (January
September) of 2014, up about 9% from about 411,294 tons exported during the same period in
2013, according to data from the Ministry of Agriculture in Argentina. The USDA estimates
Argentina's milled rice production at about one million tons in MY 2014-15 (April March),
against consumption of about 440,000 tons. It estimates Argentina will export about 600,000
tons of rice in MY 2014-15.
The government of Venezuela has announced it will subsidize paddy rice prices at about 6.10
bolivars per kilogram (about $960.69 per ton), according to Bloomberg. The subsidy details have
been published in the official gazette number 40,567 and the subsidy is applicable in the states of
Barinas and Portuguesa. In November, the Venezuelan government fixed maximum retail price
(MRP) of rice at about 9.63 Bolivars per kilogram (about $1,532 per ton) for the producer in
order to help them increase their incomes.
Guyana has exported about 501,208 tons of rice in 2014, up about 27% from about 394,000 tons
exported in 2013, Agriculture Minister said. Guyana produced about 633,000 tons, up about 18%
from about 535,212 tons from last year, according to the Agriculture Ministry.
Mexico has imposed a 9% tariff on imported paddy rice and a 20% tariff husked, long grain and
other imported rice from all the countries that do not have free trade agreements (FTAs),
according to USDA Post. The U.S. is exempted from the tariff because of the North America
Free Trade Agreement (NAFTA). The government has decided to reinstate import tariffs as
Mexico's paddy rice production declined by about 50%, while domestic consumption has
increased about 12%, according to the new decree.
Separately, Mexico's Secretariat of Agriculture, Livestock, Rural Development, Fisheries and
Foodstuffs (SAGARPA) has decided to provide support payments to rice farmers to help them
overcome losses from declining rice prices since August 2012, according to the USDA. Rough
rice prices on the Chicago Board of Trade (CBOT) have declined about 14% to about $300 per
ton in August-September 2014 from about $350 per ton in August 2012, the USDA said.
U.S.
U.S. 4% broken rice ended the month of December at about $545 per ton, down about 5% per
ton from a month ago and down about 13% per ton from a year ago. CBOT near month's rough
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rice future ended the month at about 11.64 per cwt (about $257 per ton, down about 6% from a
month ago and down about 24% from a year ago.
The USDA has forecasted U.S. MY 2014-15 all rice exports at about 4.67 million tons, up about
10% from an estimated 4.24 million tons last year and slightly up from its last month's forecast
of about 4.63 million tons. USDA lowered estimates for U.S. MY 2014-15 all rice ending stocks
by about 3% to about 1.81 million tons from its last month's estimates of about 1.86 million tons.
It estimates U.S. all rice ending stocks to increase about 21% y/y in MY 2014-15.
The U.S' eased existing financing and banking restrictions on food items from the 50-year
embargo with Cuba in December. Now from this stance it is likely to increase U.S. exports of
agricultural products, including rice, with the Cuba, according to local sources. Cuba imported
about 30% of its annual rice import needs from the U.S. between 2001 and 2004.However, U.S.
rice exports to Cuba started declining till 2008 and have stopped since then due to certain
financing and banking restrictions imposed by the U.S. government with Cuba. Cuba imports
about 50% of its annual rice consumption needs.
Africa
The USDA has forecasted Ghana's MY 2014-15 (October - September) rice imports at about
600,000 tons, down about 7% from about 644,000 tons last year due to increasing prices of
imported rice resulting from the rapid depreciation of Ghana currency against the U.S. dollar.
The agency finds that demand for rice has been increasing due to persisting shortfall in
production. Share of U.S. rice in Ghana's rice imports has declined by about 77% to about $16.9
million in 2013-14 from about $73.3 million in 2011-12 due to high prices of U.S. rice,
according to the USDA. The agency forecasts, Ghana's MY 2014-15 rice production at about
300,000 tons, up about 3% from about 290,000 tons last year and about 9% lower than USDA's
official estimates of about 330,000 tons due to adequate and timely rains in all rice-growing
regions as well as the government support by way of introducing improved high yielding, disease
resistant rice varieties to producers and assisting them to adopt low cost water management
techniques. Separately, the Ghana Rice Inter-Professional Body (GRIB) has urged the
government to adopt new strategies to boost rice production in the country, according to local
sources.
The FAO has estimated Sierra Leone's 2015 rice, basis milled, imports at about 215,000 tons,
slightly from 2014. The expected increase in imports is attributed to shortfalls in 2014
production levels. The FAO estimates Sierra Leone's 2014 milled rice production at about
770,000 tons (about 1.15 million tons, basis paddy), down about 8% from about 831,600 tons
(about 1.25 million tons, basis paddy) last year, despite favorable weather conditions and timely
rains due to the Ebola Virus Disease (EVD) outbreak, which has severely affected the country
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since the beginning of this year.

The FAO has estimated Guinea's 2015 rice, basis milled, imports at about 320,000 tons, up
about 7% from about 300,000 tons in 2014. The probable increase in imports is attributed to
shortfalls in 2014 production levels. The UN agency estimates Guinea's 2014 milled rice
production at about 1.315 million tons (about 1.976 million tons, basis paddy), down about 4%
from about 1.368 million tons (about 2.075 million tons, basis paddy) last year, despite favorable
weather conditions and timely rains due to the EVD outbreak, which has severely affected the
country since the beginning of this year. The FAO estimates that the country to have very little
ending stocks in 2014 assuming increased domestic utilization.
China
The USDA has estimated China's rice imports at about 3.7 million tons in MY 2014-15 (July June), down about 3% from an estimated 3.8 million tons in MY 2013-14 due to an expected
increase in production. The agency estimates China to produce 144 million tons of rice in MY
2014-15, up about 1% from an estimated 142.53 million tons in the previous year due to an
estimated increase in paddy rice acreage. Separately, the FAO has forecasted China's rice
imports at about 2.4 million tons in calendar year 2014, unchanged from last year due to an
expected increase in production. The FAO estimates Chinas paddy rice production at about 205
million tons (about 143.3 million tons, basis milled)in calendar year 2014, up about 1% from
about 203.6 million tons last year (about 142.3 million tons, basis milled) . The increase is
attributed to a slight increase in area planted, prompted by higher minimum purchase/support
prices (MSP) and other government support measures, including direct payments to farmers and
subsidies for seed and machinery as well as other agricultural inputs.
China has imported about 2.014 million tons of rice in the first ten months of 2014 (January October), up about 7% from about 1.874 million tons imported during the same period last year,
according to data from China Customs General Administration. Meanwhile, China has exported
about 345,369 tons of rice in January - November 2014, down about 24% from about 455,970
tons exported during the same period last year, according to data from the Customs.
The government of China is also planning to take advantage of the prevailing lower global rice
prices by importing more rice at the current lower prices, according to a post on the government
website.
Extra imports would help in boosting local rice stocks and supplies thereby ensuring food
security in the country, according to National Agricultural Officers.
Separately, China's Ministry of Agriculture has renewed bio-safety certificates to two varieties of
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January 1, 2015
pest-resistant genetically modified (GM) rice for another five years, according to Reuters. The
Ministry renewed the certificates contrary to its earlier decision not to renew them.
Philippines
The government of the Philippines aimed to achieve self-sufficiency in rice production in 2013,
but could achieve only 92% of the self-sufficiency target due to a series of typhoons that hit the
country. Now the government has temporarily put off the rice self-sufficiency target and is
planning to import sufficient rice to ensure adequate stocks and control price hikes. The
Philippines has imported about 1.8 million tons of rice since the beginning of 2014 to replenish
rice stocks and control price hikes. It has recently allowed the private sector to import another
187,000 tons of rice under the minimum access volume (MAV) program, with delivery on or
before February 28, 2015.
However, Typhoon Hagupit (Ruby) which reportedly damaged about 52,034 tons of paddy rice
worth P890.92 million (about $20 million), may not impact the overall paddy rice output in the
first quarter of 2015, the Agriculture Undersecretary said.
Separately, the Philippines Department of Agriculture (DA) is targeting to produce about 20
million tons of paddy rice in 2015, up about 6% from an estimated 18.8 million tons in 2014,
according to local sources.
Myanmar
Myanmar exported about 915,000 tons from April 1 - December 15, 2014, up about 75% from
about 522,857 tons exported during the same period last year, according to the Ministry of
Commerce. Separately, Myanmar is targeting to export more than 1.5 million tons of rice in FY
2014-15 (April - March), up about 25% from about 1.2 million tons exported last year, the
Myanmar Rice Federation (MRF) Joint Secretary said. Myanmar rice exports to China through
its northern borders have reached about 716,272 tons accounting for nearly 78% of the total rice
exports since the beginning of this fiscal year, which began on April 1, according to local
sources.
The Myanmar government is also planning to release its National Export Strategy, which aims to
promote the main export commodities, including rice, hotels and tourism sector and supporting
services, in January 2015, according to local sources. The National Export Strategy, which is
prepared by the officials from the Ministry of Commerce, Customs Department, Myanmar Port
Authority and exporters, will be submitted for government approval in the last week of
December 2014, according to the Advisor to the Commerce Minister.

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Europe
The European Union's (EU) rice imports from the Least Developed Countries (LDCs) of Asia
such as Cambodia, Laos and Myanmar under the Everything But Arms (EBA) Agreement have
increased about 5% to about 65,280 in first three months of 2014-15, from about 62,253 tons
imported during the same period last year.
Italy has exported about 632,930 tons of rice, basis milled, in the crop year 2013-14 (September
1, 2013 - October 31, 2014), down about 6.3% from about 675,434 tons exported in the crop year
2012-13, according to data from the Ente Nazionale Risi, the National agency for rice.
Separately, Italian rice farmers are reportedly reducing the use of certified seeds for the last
couple of years, according to the data from Nazionale Risi, the use of certified seeds in the crop
year 2013-14 remained unchanged from the previous year despite an increase in the rice acreage.
The data also shows that area for growing certified seeds in 2013-14 has declined by about 20%
y/y due to reduction in the usage of certified seeds.
Other Markets
The USDA has estimated Indonesia to import about 1.225 million tons of rice in MY 2013-14
(January 2014 - December 2014), up about 88% from an estimated 650,000 tons in MY 2012-13.
Based on the forecasts by the Indonesian National Statistics Agency (Badan Pusat Statistik,
BPS), the agency estimates Indonesia's milled rice production at about 36.3 million tons (about
57.16 million tons, basis paddy), slightly down from an estimated 36.55 million tons (about
57.56 million tons, basis paddy) and up about 0.8% from USDA's official estimates of about 36
million tons (about 56.69 million tons, basis paddy). Separately, the Agriculture Minister of
Indonesia said that the country needs to produce over 80 million tons (about 52.8 million tons,
basis milled) of paddy rice in 2015 to achieve food self-sufficiency target in the next three years.
The Minister said the government is planning to increase the allocation for farming in the 2015
budget to about Rp20 trillion (about $1.6 billion) from the current Rp4.1 trillion (about $330
million) as part of efforts to achieve the food self-sufficiency target.
Indonesia's new President is targeting to achieve self-sufficiency in rice, corn and soybean
production by 2017 and is accordingly planning to build 47 water reservoirs as well as renovate
the existing irrigation canals.
Indonesia is hoping to import no rice in 2015 given good prospects for paddy production during
the year, according to local sources.
Bangladesh's private sector has imported about 405,000 tons of rice so far (July - December 9)
in FY 2014-15 (July - June), up about 8% from about 374,560 tons imported last year according
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to local sources. Meanwhile, the government has so far not imported any rice in this fiscal year.
But it has set a target of importing about 200,000 tons of rice in the fiscal year 2014-15 to
replenish falling stocks in the country, according to the Directorate of Food of Bangladesh.
Separately, in the light of increasing rice imports by the private sector, a Parliamentary Standing
Committee advised the Bangladesh government to curb rice imports, particularly from India, in
order to protect the competitiveness of the country's rice sector, according to local sources. Based
on data from the National Board of Revenue, the Committee noted that the government has been
following zero-duty policy for rice imports since 2006-07 and suggested that the government
should withdraw this policy to encourage rice farmers as well as the other stakeholders.
Bangladesh will receive Chinas support to boost rice production in the country under an
agricultural cooperation agreement, according to local sources. Under the agreement, China has
agreed to transfer the technology of its indigenous high-yielding rice variety to Bangladesh and
will also set up a rice research center in Bangladesh.
The USDA has forecasted South Korea's rice imports to more than double to about 560,000 tons
in MY 2014-15 (November - October) from an estimated 240,000 tons last year, and up about
37% from USDA's official estimates of about 410,000 tons. The South Korean government,
which decided to liberalize its rice import market from the beginning of this year, seems not to
have a smooth going. The government as planned started imposing 513% tariff on imports over
and above its minimum market access (MMA) quota of about 409,000 tons under WTO
regulations from January 1, 2015. Imports under the MMA quota would attract a tariff of 5%.
Separately, the USDA estimates South Korea's MY 2014-15 milled rice production at about
4.24 million tons, slightly up from an estimated 4.23 million tons last year; and about 1.4% up
from USDA's official estimates of about 4.18 million tons due to continued favorable weather
conditions until the completion of the harvest.
Mustapha Pakzad, global business consultant and Chairman of U.K.-based Pakzad Consulting
Group, told Oryza that Iran will resume rice import from February 2015. He said the ban is due
to the fact that the new government wants to clear the over-stock.
Nepal's 2014 paddy rice production is likely to decline about 5.1% to about 4.78 million tons
from about 5 million tons last year due to a late monsoon and untimely rainfall, sources from the
Ministry of Agricultural Development (MAD) said. Separately, The FAO estimates Nepal 2014
paddy production at about 4.6 million tons (about 3.1 million tons, basis milled), down about 9%
from about 5 million tons (about 3.35 million tons, basis milled) due to an estimated 6% decline
on planted area as a result of late and below-average monsoon rains, which delayed sowing
process and thereby leading to reduced yields. Meanwhile, The agency has forecasted Nepal
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January 1, 2015
2014-15 (July - June) rice imports to surge to about 500,000 Tons, up about 11% from about
450,450 tons in 2013-14 due to an expected decline in 2014 production and sustained demand.
Research and Scientific Development:
Scientists from the Swiss Federal Institute of Technology or Ecole Polytechnique Fdrale de
Lausanne have found that rice is more effective in reducing the toxicity of cholera bacterium
Vibrio cholera.
http://www.oryza.com/news/rice-news/swiss-scientists-find-rice-better-alternative-choleratreatment
Scientists of the Bihar Agriculture University, India, have developed a new drought-resistant rice
variety known as "Sabour Ardhjal" for rain-deficient areas in the state.
http://www.oryza.com/news/rice-news-asia-pacific/indian-eastern-state-bihar-researchersdevelop-drought-resistant-rice
A study by the India-based Central Rice Research Institute under the Indian Agriculture Ministry
has found that the low land flooded rice ecosystem, which is often viewed as a source of methane
emissions contributing to global warming, can store carbon in soil and behave a net carbon sink.
http://www.oryza.com/low-land-flooded-rice-ecosystems-act-net-carbon-sink-finds-study
The Philippine Rice Research Institute is developing new rice varieties that can endure high
temperatures and provide high yields.
http://oryza.com/philippines-plans-release-new-heat-tolerant-rice-varieties-2017
December Tenders:
South Korea bought about 90 tons rice in a tender.
http://www.oryza.com/news/tenders/south-korea-buys-90-tons-non-glutinous-rice-tender
Iraq issued a tender to buy at least 30,000 tons rice.
http://oryza.com/news/tenders/iraq-issues-tender-buy-least-30000-tons-rice
Vietnam Cuts Floor Price of Lower Quality

Rice Exports
Jan 09, 2015
The Vietnam Food Association (VFA) has cut the floor price of the lower quality 25% broken
rice exports to around $360 per month, down about 5% from around $380 per ton due to subdued
demand for Vietnamese rice, according to Reuters. The new floor price will be effective from
January 12, 2015, according to a statement from the VFA.Vietnam had cut the export floor price
of lower quality 25% broken rice variety to $380 per ton from about $410 per ton in November
2014.
The South-East Asian nation cut export floor prices (minimum export prices) of higher quality
and medium quality rice such as 5%, 10% and 15% broken rice varieties to around $385 per ton,
$375 per ton and $365 per ton respectively on January 7, 2015 to meet the Philippine demand of
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January 1, 2015
about 187,000 tons.Local sources say exporters are foreseeing a tough year ahead due to a likely
stiff competition this year from Thailand, India and Pakistan.
Vietnam rice export prices have declined over the last week due to higher supplies from winterspring harvest and a sluggish demand from buyers. Export prices of 5% broken rice currently
stand at $380 per ton, down about 1.5% from about $386 per ton in the last week of December
2014. On the other hand, export prices of 25% broken rice currently stand at $350 per ton, down
about 1.4% from about $355 per ton in the last week of December 2014.
Vietnam exported around 7.5 million tons of rice, including about 6.5 million tons of official rice
exports and around 1 million tons of unofficial rice exports to China through borders) in 2014,
according to the VFA.

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January 1, 2015
Vietnam Exports 495,457 Tons of Rice in

November 2014; Down 17% m/m and Up
22% y/y
Jan 09, 2015
Vietnam has exported around 495,457 tons of rice in November 2014, down about 17% from
around 599,948 tons exported in October 2014, and up about 22% from around 407,724 tons
exported in November 2013, according to USDA. While share of Vietnam's rice exports to Asia,
Africa and Europe declined m/m in November 2014, its share of exports to Americas and
Australia increased.

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January 1, 2015
Asia accounted for around 390,058 tons (about 79% of total rice exports by Vietnam in
November 2014), down about 22% from around 497,721 tons exported in October 2014, and up
about 35% from around 288,771 tons exported in November 2013.
Vietnam exported around 72,352 tons of rice to Africa (about 15% of total November exports),
down about 32% from around 54,985 tons exported in October 2014, and down about 5% from
around 76,253 tons exported in November 2013.
Vietnam exported around 4,759 tons of rice to American destinations (about 1% of November
exports), down about 85% from around 31,669 tons exported in October 2014, and down about
82% from around 26,470 tons exported in November 2013.
Vietnam's exports to Australia (about 0.4% of November exports) declined about 75% to around
2,130 tons from around 8,688 tons exported in October 2014 and increased about 3% from
around 2,071 tons exported in November 2013.
Vietnam's exports to Europe and CIS countries (about 5% of total November exports) accounted
for around 26,158 tons, about 4 times higher than around 6,885 tons exported in October 2014
and up about 85% from around 14,159 tons exported in November 2013.
In terms of grade, 25% broken rice exports accounted for around 81,438 tons (or, about 16% of
total exports in November 2014); 15% broken rice exports accounted for around 108,307 tons
(or, about 22% of total exports in November 2014); 5% broken rice exports accounted for around
64,436 tons (or, about 13% of total November exports); glutinous rice exports accounted for
around 70,914 tons (or, about 14% of total November exports); Jasmine rice exports accounted
for around 98,227 tons (or, about 20% of total November exports); and 10%, 100% and other
varieties accounted for around 72,135 tons (or, about 15% of total exports in November 2014).
Thai Ex-Premier Defends Rice Pledging Case

Before NLA; Denies All Charges
Jan 09, 2015
The Thai ex-Premier Yingluck Shinawatra gave testimony to the National Legislative Assembly
(NLA) today in the Parliament today, according to local sources. The Thai NLA initiated the
impeachment hearing against the former Prime Minister (PM) based on evidences submitted by
the National Anti-Corruption Commission (NACC).She is facing charges of ignoring warnings
against misdealing in the controversial rice pledging scheme, which brought losses of over 500
billion baht (around $15.6 billion) to the exchequer.The former PM reportedly denied all charges
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January 1, 2015
of encouraging corruption in the scheme saying that all charges against her are politically
motivated and the
investigation process by the NACC was not fair. "I was
removed from office the equivalent of being
impeached three times already. I have no position left
to be impeached from. The impeachment today will
affect policies aimed at helping farmers in the future,"
she was quoted as saying.She noted that she and her
Cabinet did not ignore warnings and suggestions of the
NACC and they rather introduced anti-corruption
measures at all levels. She added that the NACC did not
set up any fact-finding subcommittee and completed the
probe in just 21 days. They depended on some old data
from a Thailand Development Research Institute (TDRI)
report, she said. The former PM said she was ready for
any fair checks.She defended the rice pledging scheme
saying it is the best policy to protect farmers' interests. She added that policy changes by India
and other countries increased competition and affected prices. She further noted that Thailand
could reclaim its top rice exporter status in 2014 because of the rice stocks accumulated from the
scheme. The NLA members are yet to vote on whether to impeach her. If impeached, she could
face a political ban up to five years.
Weekly Recap: Oryza White Rice Index

Continues Lower as Vietnam, Pakistan
Reduce Quotes
Jan 09, 2015
The Oryza White Rice Index (OWRI), a weighted average of global white rice export quotes,
ended the week at about $429 per ton, down about $2 per ton from a week ago, down about $7
per ton from a month ago and down about $30 per ton from a year ago. The FAO All Rice Price
Index declined to about 224 points in December, down about 4% from November.
Thailand

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January 1, 2015
Thailand 5% broken rice is today shown at about $410 per ton, unchanged from a week ago, up
about $5 per ton from a month ago, and down about $10 per ton from a year ago.
Thailand exported about 9.49 million tons of rice in the first eleven months of 2014, up about
60% from 5.92 million tons during the same period in 2013.
Thailands National Legislature Assembly (NLA) will begin impeachment hearings against
former Prime Minister Yingluck Shinawatra on January 9 for her alleged negligence in the
management of the paddy rice pledging scheme introduced under her regime in October 2011.
Thailands Office of Agricultural Economics (OAE) has estimated the countrys paddy rice
output for 2014-15 at around 33.8 million tons, down about 8% from last year. The OAE
attributes the anticipated decline to decreased paddy rice acreage of the secondary crop.
The Thai Commerce Minister is expected to visit Hong Kong this month where he will likely
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January 1, 2015
sign a Memorandum of Understanding (MoU) to export about 100,000 tons of jasmine rice this
year, according to Reuters.
India
India 5% broken rice is today shown at about $395 per ton, up about $5 per ton from a week ago,
down about $5 per ton from a month and down about $10 per ton from a year ago.
Rice stocks in the central pool as of January 1 were around 22.79 million tons, about 24% less
than the same time last year, according to data from the Food Corporation of India. However,
month-over-month, rice stocks are up by about 6%.
A report by the Agriculture Ministry recommends increasing the use of hybrid rice seed varieties
in order to increase rice production in the country and meet increasing demand arising from the
National Food Security Mission.
The northeastern state of Mizoram has decided to import about 200,000 tons of rice from
Myanmar.
Bangladesh has offered to sell rice to India at $425-$430 per ton and is awaiting Indias
response.
Vietnam
Vietnam 5% broken rice is today shown at about $380 per ton, down about $5 per ton from a
week ago, down about $10 per ton from a month ago and down about $30 per ton from a year
ago.
Vietnams has exported about 495,457 tons of rice in November, down about 17% from October
and up about 22% from November 2013, according to the USDA.
Rice exporters have clinched export contracts for one million tons of rice for delivery this year,
an increase of about 25% from the same period last year. However, exporters anticipate stiff
competition from Thailand, India, and Pakistan.
Vietnam has cut export floor prices (minimum export prices) of higher quality and medium
quality rice such as 5%, 10%, and 15% broken rice varieties to around $385 per ton, $375 per
ton, and $365 per ton, respectively, in order to meet the Philippine demand of about 18,700
tons. In further efforts to boost Vietnams competitiveness in the world rice market, experts
have urged the government to develop a national brand for Vietnamese rice.
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January 1, 2015
The Vietnam Food Association (VFA) is targeting to export between 7 million tons and 7.5
million tons of rice in 2015, with about 2.4 million tons going to China, about 1 million tons
going to Indonesia, and about 1.5 million tons to the Philippines this year.
Pakistan
Pakistan 5% broken rice is today shown at about $375 per ton, down about $10 per ton from a
week ago, down about $5 per ton from a month ago and down about $20 per ton from a year
ago.
Central & South America
Brazil 5% broken rice is today shown at about $540 per ton, down about $10 per ton from a
week and a month ago and down about $125 per ton from a year ago.
In December, Mexico announced plans to reinstate import tariffs on paddy and rice, and these
tariffs will go into effect Friday, January 9.
Guyana has exported about 501,208 tons of rice in 2014, up about 27% from about 394,000 tons
exported in 2013.
U.S.
U.S. 4% broken rice is today shown at about $515 per ton, unchanged from a week ago, down
about $30 per ton from a month ago and down about $75 per ton from a year ago.
Chicago rough rice futures for March delivery drifted sideways this week, opening at $11.560
per cwt (about $255 per ton) on Monday and reaching the weekly high on Wednesday at $11.730
per cwt (about $259 per ton).
The U.S. cash market was quiet this week as market participants returned from vacation to find a
market with little-to-no sell or buy interest at current levels. Prices held around $12.22 per cwt
fob farm (about $270 per ton) with most buyers bidding about $0.50-$0.75 per cwt lower. The
market saw a slight uptick in sell interest on Thursday, but some analysts think the U.S. rice
market will see even lower prices before the end of the marketing year if export demand doesnt
increase.
Other Markets
Cambodia 5% broken rice is today shown at about $455 per ton, down about $5 per ton from a
week ago, down about $10 per ton from a month ago and down about $5 per ton from year
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January 1, 2015
ago. During 2014, Cambodia exported about 387,100 tons of rice, an increase of about 2% from
2013. About 62% of rice exports were to Europe, according to the Ministry of Agriculture.
Illegal rice exports from Myanmar to China reached 800,000 tons in the first nine months of
FY 2014-15, as Chinese authorities have reduced seizures, according to local sources.
The Ministry of Agriculture in China has renewed bio-safety certificates to two varieties of pestresistant genetically modified rice for another five years.
Indonesia hopes to import no rice in 2015 due to good prospects for paddy production during the
year.
The government of Bangladesh has released two new hybrid rice varieties this week BADC
Hybrid Dhan 2 and Buyer Hybrid Dhan 4. The hope is that these varieties will increase
production.
The Small Scale Rice Dealers Association of Ghana (SSRIDA-GH) has sought the Ministry of
Trade and Industry to reconsider the ban on inland rice importation or consider a total and
immediate ban on rice imports in order to protect the interests of small scale rice traders from
large foreign traders.
Rice grown in the Fukushima Prefecture of Japan has been cleared of radiation effects by the
government for the first time since the nuclear disaster in 2011, according to Reuters.
Rice acreage in the European Union (EU) in 2013/14 crop year reached 425,000 hectares, down
from 467,000 hectares in the previous year, according to data from Copa-Cogeca. EU rice
production in the 2013/14 crop year totaled 1.77 million tons (basis milled), down from 1.89
million tons the previous year. Forecasts for the 2014/15 marketing year have been projected
downwards, with production anticipated to reach 1.73 million tons (basis milled) with acreage
unchanged from the previous year. Exports to non-EU countries are expected to fall in 2014/15
to 160,000 tons from 212,000 tons in 2013/14.
About 44.7% of the Italian 2014-15 (September-August) paddy crop has been sold, totaling
about 631,058 tons. This amount is about 17% more than the same period last year. Italian rice
exports to non-EU countries reached 54,611 tons during September 1-January 6, an increase of
about 69% from last year.

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12th January, 2015 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

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Exclusive ORYZA E-Newsletter

January 12, 2015

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Bangladesh Offers to Sell Rice to India at $425-$430 per Ton

Bangladesh Offers to Sell Rice to India at

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Jan 09, 2015

Bangladesh has sent its intent to sell rice to India

India Rice Sellers Increase Most of Their

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kept their quotes mostly unchanged today.

Falling Oil Prices May Impact 2015 Thai

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FAO Global Rice Price Index Declines 4%

The FAO All Rice Price

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Niger Government Collaborates with IFAD

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Commissioner for Agriculture and Rural Development.

Italy Rice Exports to Non-EU Countries

Italy's rice exports to non-EU countries in the period

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Oryza Overnight Recap - Chicago Rough

Oryza U.S. Rough Rice Recap - Subdued

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Jan 09, 2015

Indonesia Begins Bulog Operational

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rice, soybeans and onions.

Oryza Afternoon Recap - Chicago Rough

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Oryza December 2014 Rice Market Review

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since the beginning of this year.

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Vietnam Cuts Floor Price of Lower Quality

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Vietnam Exports 495,457 Tons of Rice in

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