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June 18 ,2015

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About 30% of North Korean Paddy Rice


Acreage Dried Up Due to Drought, Says
KCNA
Jun 17, 2015

North Korea is experiencing worst drought conditions in a century and about 30% of the
country's rice land has dried up, the official Korean Central News Agency (KCNA) reported on
June 16."Water level of reservoirs stands at the lowest, while rivers and streams (are) getting
dry," said the report. Official sources are predicting the production of rice to decline by about
20% of the average production if the shortage of water continues till July.USDA estimates North

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Korea's 2015 milled rice production at around 1.7 million tons, down about 10% from around
1.88 million tons in 2014.

Asia Rice Quotes Unchanged Today


Jun 17, 2015

Asia rice sellers kept their quotes mostly unchanged today.


5% Broken Rice
Thailand 5% rice is indicated at around $355 - $365 per ton, about a $10 per ton premium on
Vietnam 5% rice shown at around $345 - $355 per ton. India 5% rice is indicated at around $365
- $375 per ton, about $15 per ton discount to Pakistan 5% rice shown at around $380 - $390 per
ton.
25% Broken Rice
Thailand 25% rice is shown at around $340 - $350 per ton, about a $10 per ton premium on
Vietnam 25% rice shown at around $330- $340 per ton. India 25% rice is indicated at around
$350 - $360, about $15 per ton premium on Pakistan 25% rice shown at around $335 - $345per
ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $360 - $370 per ton. India parboiled rice is
indicated at around $355 - $365 per ton, about a $45 per ton discount to Pakistan parboiled rice
shown at around $400 - $410 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $315 - $325 per ton, about $5 per ton
premium on Vietnam 100% broken rice shown at around $310 - $320 per ton. India's 100%
broken rice is shown at around $280 - $290 per ton, about a $15 per ton discount to Pakistan
broken sortexed rice shown at around $295 - $305 per ton.

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About Half of Rice Land in Central Region


Will Not Be Affected by Reduced Water
Supplies, Says Thai Agriculture Ministry
Jun 17, 2015

Thailand's Agriculture and Cooperatives Ministry has announced that about 3.4 million rai
(around 544,000 hectares) of rice land, or 46% of the total rice land in the Central region will not
be affected by the government's decision to cut water supplies from the Chao Praya River basin
to irrigated lands, according to local sources.The Agriculture Minister noted that the drought was
most severe in 22 provinces of the Central region, where about 7.4 million rai (around 1.184
million hectares) of rice land receive an irrigated water supply from the Chao Praya River. It
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advised the rice farmers in about 4 million rai (around 640,000 hectares) land to wait until there
is sufficient rain at the end of next month. He urged the farmers to understand the situation and
follow the government advice to delay planting until the water levels in the reservoirs improve.
Separately, the Prime Minister told local sources that the government has instructed
the Department of Royal Artificial Rain-making and Agricultural Aviation to monitor the
weather conditions and accordingly create artificial rain in areas with reservoirs in order to
increase the supply.Meanwhile the Thai Rice Mill Association (TRMA) President expressed
concern that the prolonged low rice price in Thailand may force many rice millers to shut their
operations. He told local sources that more than 100 mill operators are affected by the falling rice
prices.
Currently, the price of 15% moisture content rice is ruling at about 7,500 7,700 baht per ton
(around $222 - $228) down from the previous 8,000 8,500 baht per ton (around $237 - $252).
Average farm price of paddy is at around 6,700 7,000 baht per ton (around $199 - $208), he
said.

Bangladesh's Boro Rice Procurement Drive


Fails to Provide Respite to Farmers
Jun 18, 2015

The boro paddy and rice (January May) procurement drive has not provided the expected
respite to farmers in terms of prices, according to local sources.Despite the ongoing procurement
drive, farmers are forced to sell their paddy at almost half of their production costs. They are
currently selling freshly harvested boro rice between Tk 480 - 500 per 40 kilograms (around
$146-$162 per ton) against the government's estimated production cost of around Tk 800 per 40
kilograms (around $260 per ton).
The government began the procurement of one million tons of 2015 boro paddy and 100,000
tons of boro rice from May 1, 2015. The procurement drive will continue till August 31, 2015. It
has fixed the procurement price for paddy at Tk 22 per kilogram (around $283 per ton) and that
for rice at Tk 32 per kilogram (around $412 per ton).
However, local sources say the government is currently procuring milled rice from millers rather
than paddy from farmers. It has already procured around 313,000 tons of milled rice from the
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millers. Due to this stance by the government, farmers are at a loss as they are not receiving the
government set price of $283 per ton, and are forced to sell to millers and traders at much lower
prices. Traders and miller s on the other hand are not offering decent prices to farmers as the
market is flooded with low quality rice imports from India.Farmers are worried as they are
unable to recover their production costs and also they are not in a position to hold their output
until the government starts procuring paddy from them.
The government imposed a duty of 10% on rice imports in May this year to curb increasing
imports from India. Though this action by the government increased boro paddy price by about
20%, farmers had not benefitted out of it. Most of the farmers reportedly sold their output from
the boro harvest season even before the duty imposition and were not left with any stocks to take
advantage of the increased prices. According to local sources, this decision was also meant to
benefit millers who stocked enough paddy from the ongoing harvest.Either way, farmers stand at
a loss, according to local sources.The government is estimating the output from the 2014-15
ongoing boro crop at around 19 million tons.

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USDA estimates Bangladeshs MY 2014-15 (July 2014 June 2015) milled rice production to
slightly increase to about 34.5 million tons from an estimated 34.39 million tons in MY 2013-14.
It estimates Bangladesh to import 1.1 million tons of rice in 2015.

EU Seeks Aromatic Rice Import Deal from


Myanmar
Jun 18, 2015

The European Union (EU) is considering to import aromatic rice from Myanmar as the demand
for aromatic rice in the region is increasing, according to local sources.A delegation from the
European Commission (EC) had met with the representatives of the Myanmar Rice Federation
(MRF) on June 17 to discuss the country's ability to export fragrant rice to the EU in the mid- to
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long-term. The General Secretary of the MRF reportedly told the delegation that Myanmar can
produce both short and long grain aromatic rice and can meet the EU demand through the
contract farming system. Myanmar produces two types of fragrant rice - Lone Thwal Hmwe and
Paw San.
The MRF Vice-Chairman told local sources that exporting fragrant rice to the EU will help
Myanmar rice farmers to diversify their market but they need to increase the aromatic rice
production if they have to export it to the EU as the current production is sufficient only to meet
the local demand. He also noted that since the local price of Paw San is quite high, most of the
farmers do not want to export. He added that the export price of Paw San would be in the range
of $900 per ton.According to the MRF data, Myanmar exported around 100,000 tons of rice to
the EU in 2014 and the government is targeting to export 200,000 tons this year.The EU statistics
show that Myanmar's rice exports (both milled and semi-milled) to the EU increased about 120%
to around 45,240 tons during September 2014 - April 2015 from around 20,848 tons during the
same period last year. The EU imports rice from Myanmar under the Everything But Arms
(EBA) agreement at zero percent import duty."An export deal with Myanmar on aromatic rice
strains would create a win-win situation, as we dont produce them and we want and eat them,
a member of the EU delegation was quoted as saying.Separately, Myanmar rice exporters are
planning to attend an exhibition in Milan next month as part of efforts to promote Myanmar rice
in Italy and other EU markets. So far, China is the largest export market for Myanmar rice, but
the government is keen on diversifying its export market and reduce too much dependence on
China.

Government of Guyana Seeks to Extend


PetroCaribe Deal with Venezuela
Jun 18, 2015

The government of Guyana is preparing for bilateral talks with the government of Venezuela to
extend the oil-for-rice PetroCaribe deal, which is to expire this year, according to local sources.
Under the deal Venezuela buys rice from Guyana and sells oil to Guyana.Under the existing
agreement, Guyana is expected to sell about 210,000 tons of paddy and polished rice annually to
Venezuela. The value of this supply is reportedly $130 million.According to the Minister of
State, the government is seeking to extend the PetroCaribe deal with Venezuela at a time when
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other South American countries are eyeing a major share in the Venezuelan rice market.
However, he expressed confidence that the deal could be extended given the long-standing
relationship of Guyana with Venezuela. "We believe that because of the length of time that we
have been shipping rice to Venezuela market they might have become accustomed to Guyana's
rice and we stand a better chance of being able to negotiate a longer term arrangement," he was
quoted as saying.
He also noted that the Foreign
Affairs Minister will deal this
matter with the support of other
Ministers.At home, stakeholders of
the rice market have been
complaining of the government's
lethargy in making payments to the
farmers.
They
blame
the
government for mostly focusing on
finding markets for private rice
exporters and negotiating prices
overlooking
internal
problems.Recently, there was an
uproar about mismanagement of
the PetroCaribe fund. The Minister of State noted that the fund was empty and the government
needs to arrange about $15 million to pay farmers.The deal is very important for Guyana as it
had helped Guyana's rice industry develop significantly with increasing production and exports.
It has been providing higher prices compared to other countries' offers. The deal also helped to
achieve food security in the Caribbean region.
Guyana produced around 633,000 tons of rice in 2014, up about 18% from around 535,212 tons
from 2013; and exported around 501,208 tons of rice in 2014, up about 27% from around
394,000 tons exported in 2013, according to the Agriculture Minister. The Caribbean nation aims
to produce about 618,000 tons of milled rice and export around 521,000 tons in 2015.USDA
estimates Guyana to produce 650,000 tons of milled rice in the MY 2015-16(January 2015 December 2015) and export about 500,000 tons in 2015. The FAO estimates Guyana to produce
570,000 tons of milled rice and export around 460,000 tons in 2015.

Global Rice Quotes


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June 18th, 2015

Long grain white rice - high quality

Thailand 100% B grade

365-375

Vietnam 5% broken

345-355

India 5% broken

365-375

Pakistan 5% broken

380-390

Myanmar 5% broken

415-425

Cambodia 5% broken 430-440

U.S. 4% broken

450-460

Uruguay 5% broken

565-575

Argentina 5% broken 555-565

Long grain white rice - low quality


Thailand 25% broken 340-350

Vietnam 25% broken 325-335

Pakistan 25% broken 335-345

Cambodia 25% broken

410-420

India 25% broken

350-360

U.S. 15% broken

440-450

Long grain parboiled rice


Thailand parboiled 100% stxd 360-370

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Pakistan parboiled 5% broken stxd

400-410

India parboiled 5% broken stxd

360-370

U.S. parboiled 4% broken

555-565

Brazil parboiled 5% broken

570-580

Uruguay parboiled 5% broken NQ

Long grain fragrant rice


Thailand Hommali 92%
Vietnam Jasmine

840-850

465-475

India basmati 2% broken

NQ

Pakistan basmati 2% broken

NQ

Cambodia Phka Mails 820-830

Brokens

315-325

Vietnam 100% broken 310-320

Thailand A1 Super

Pakistan 100% broken stxd


Cambodia A1 Super

295-305

350-360

India 100% broken stxd

U.S. pet food

350-360

Brazil half grain

11

NQ

280-290

Egypt medium grain brokens NQ

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

Government of India Increases 2015-16


Paddy MSP by About 3.6% to $220 per Ton
Jun 17, 2015

The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal by the
Commission for Agricultural Costs and Prices (CACP) to increase the minimum support price
(MSP) for common paddy during the 2015-16 kharif marketing season (October - September) by
about Rs.50 per quintal (around $7.8 per ton) or about 3.6% to around Rs.1,410 per quintal
(around $220 per ton), according to local sources.The CCEA has also increased the MSP for
Grade A/superior paddy by about Rs.50 per quintal (around $7.8 per ton) or about 3.6% to
around Rs.1,450 per quintal (around $226 per ton).
For the 2014-15 kharif marketing season, the government increased the MSP for common grade
paddy by about 3.8% to around Rs.1,310 per quintal (around $218 per ton) and increased the
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MSP for Grade 'A' paddy by about 4% to around Rs.1,345 per quintal (around $223 per
ton).Analysts say percentage wise, there has been a steady decline in the paddy MSP hike over
the last few years, except for the crop year 2011 when there was no hike. In 2012-13 Kharif
marketing season, the government increased the paddy MSP by 15.74%.Meanwhile, amid fears
of lower rainfall due to an El Nino weather pattern, the government is reportedly preparing to
deal with exigencies which are likely to arise due to a deficient monsoon. The major rice
growing states such as Punjab, Haryana, Andhra Pradesh, Telangana, Chhattisgarh and Odisha
have so far received excess or normal rainfall since the beginning of the monsoon season on June
1.
USDA estimates India's MY 2015-16 (October - September) milled rice production at 104
million tons, up about 1.5% from an estimated 102.5 million tons in MY 2014-15. It expects
India to export around 10.2 million tons of rice during 2015, slightly up from an estimated 10.15
million tons in 2014.

Oryza Afternoon Recap - Chicago Rough


Rice Futures Fail to Maintain Morning
Momentum and Slide into the Close
Jun 17, 2015

Chicago rough rice futures for Jul delivery settled 7 cents per cwt (about $2 per ton) lower at
$9.730 per cwt (about $215 per ton). After trading higher overnight and for the majority of the
day session rough rice futures reversed direction and closed lower. The market once again failed
at nearby overhead resistance noted around the $9.900 per cwt (about $218 per ton) level and
now look poised to trade lower towards the bottom of the current $9.400-$10.000 per cwt (about
$207-$220 per ton) trading range. The other grains continued higher today, with impressive
gains noted in both the soy and corn pits for the second consecutive day; Soybeans closed about
1.2% higher at $9.6900 per bushel; wheat finished about 0.5% higher at $4.9125 per bushel, and
corn finished the day about 1.5% higher at $3.5925 per bushel.
U.S. stocks traded mostly lower on Wednesday as investors digested the Federal Reserve
statement. The Federal Open Market Committee concluded its two-day meeting in the afternoon.
The statement was due at 2:00 p.m. ET and Fed Chair Janet Yellen is scheduled to hold a press
conference at 2:30 p.m. Stocks reversed opening gains to trade lower ahead of the statement
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release. With consensus for a September rate hike, most investors do not expect major policy
changes from the central bank's announcement. U.S. stocks closed higher on Tuesday as the Fed
began its two-day meeting and investors attempted to shake off worries about Greece debt talks,
which reached an impasse over the weekend. The Dow Jones Industrial Average traded down 48
points, or 0.27%, at 17,854. The S&P 500 traded down 6 points, or 0.28%, at 2,090, with
telecommunications leading all 10 sectors lower. The Nasdaq traded down 8 points, or 0.15%, at
5,047. Gold is trading about 0.2% lower, crude oil is seen trading about 1.5% lower, and the U.S.
dollar is seen trading about 0.1% lower at about 1:00pm Chicago time.Tuesday, there were
2,162 contracts traded, up from 1,825 contracts traded on Monday. Open interest the number of
contracts outstanding on Tuesday decreased by 31 contracts to 11,101.

Oryza Overnight Recap Chicago Rough


Rice Futures Capture Overnight Support
from Firmer Grain Complex and Weaker
Dollar
Jun 17, 2015

Chicago rough rice futures for Jul delivery are currently seen trading 3 cent per cwt (about $1 per
ton) higher at $9.830 per cwt (about $217 per ton) ahead of floor trading in Chicago. The other
grains are seen trading higher; soybeans are currently seen trading about 0.6% higher, wheat is
listed about 1.5% higher and corn is currently noted about 0.6% higher.U.S. stock futures
pointed to a flat to slightly higher open on Wednesday, with the spotlight shifting from the crisis
in Greece to the Federal Reserve. The U.S. central bank concludes a two-meeting with a
statement and new economic and interest rate forecasts at 2 p.m. ET.
Fed chief Janet Yellen holds a 2:30 p.m. press briefing amid talk that the Fed is gearing up for a
September interest rate rise as the economy recovers. U.S. stock futures pared early gains, with
Dow Jones industrial average futures trading more than 15 points higher during the European
morning session. Wall Street shares closed higher on Tuesday as the Fed began its two-day
meeting and investors attempted to shake off worries about the Greece debt talks. Later on
Wednesday, the European Central Bank is expected to hold a meeting to review emergency
funds, known as the Emergency Liquidity Assistance (ELA). Greek banks are reliant on this
funding and analysts warn that if the central bank curbs this liquidity, Greece may have no
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option but to impose capital controls. Gold is currently trading about 0.3% lower, crude oil is
seen trading about 1.9% higher, and the U.S. dollar is currently trading about 0.2% lower
at 8:30am Chicago time.

Oryza U.S. Rough Rice Recap - Prices Slip as


Window to Market Old Crop Narrows
Jun 17, 2015

The U.S. cash market was slightly weaker today as buyer interest remains limited while those
with rice left to sell see their window to market their crop narrow as new crop in South Louisiana
approaches harvest late next month.Analysts contend that export demand will have to increase
substantially to help make room for new crop and stabilize prices; however, most doubt that
tomorrows USDA exports sales report will show a significant increase from the last two weeks'
sales figures which were tepid, at best.

Thailand, Vietnam Rice Sellers Lower Some


of Their Quotes; India Rice Sellers Increase
Some of Their Quotes Today
Jun 18, 2015

Thailand rice sellers lowered their quotes for 5% broken rice by about $5 per ton to around $350$360 per ton today. Vietnam rice sellers lowered their quotes for 25% broken rice and Jasmine
rice by about $5 per ton and about $10 per ton to around $325-$335 and $465-$475 per ton,
respectively. India rice sellers increased their quotes for parboiled rice by about $5 per ton to
around $360-$370 per ton. Pakistan rice sellers kept their quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is indicated at around $350 - $360 per ton, down about a $5 per ton from
yesterday and about a $5 per ton premium on Vietnam 5% rice shown at around $345 - $355 per
ton. India 5% rice is indicated at around $365 - $375 per ton, about $15 per ton discount to
Pakistan 5% rice shown at around $380 - $390 per ton.
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25% Broken Rice


Thailand 25% rice is shown at around $340 - $350 per ton, about a $15 per ton premium on
Vietnam 25% rice shown at around $325- $335 per ton, down about a $5 per ton from yesterday.
India 25% rice is indicated at around $350 - $360, about $15 per ton premium on Pakistan 25%
rice shown at around $335 - $345 per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $360 - $370 per ton. India parboiled rice is
indicated at around $360 - $370 per ton, up about a $5 per ton from yesterday and about a $40
per ton discount to Pakistan parboiled rice shown at around $400 - $410 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $315 - $325 per ton, about $5 per ton
premium on Vietnam 100% broken rice shown at around $310 - $320 per ton. India's 100%
broken rice is shown at around $280 - $290 per ton, about a $15 per ton discount to Pakistan
broken sortexed rice shown at around $295 - $305 per ton.

What Are India's Options for Rice Straw


Disposal?
Jun 17, 2015

India, the second largest rice producer in the world, produces nearly 130 million tons of rice
straw annually. While half of it is used as cattle feed, farmers want economically viable means of
disposing the other half, according to an article published in a UK magazine.Unable to find
economically lucrative methods, most farmers burn the straw in their fields to quickly get rid of
it before the new season begins. However, burning of rice straw is not environmentally safe
process as it releases gases such as gases like carbon dioxide, methane, carbon monoxide,
nitrogen oxide, sulphur oxide and large amount of particulate matters, which adversely affect
human health as well as the environment.

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Farmers are yet to realize the importance of rice straw as a form of manure and as a profitable
raw material for various industries. In the major rice growing states of Punjab and Haryana,
farmers have tried various means of disposing the rice straw while earning them some
income.Brick manufacturing companies, power companies, and paper and packaging industries
use rice straw as a raw material. But farmers say those industries don't offer decent prices, and
considering all rice production costs, they are not sure of assured returns.
Some agricultural specialists have devised a composting technique, which can convert huge piles
of rice straw into organically rice soil. However, since the whole process takes about 45 days,
farmers have found it very labor-intensive. Similarly, another method called "mulching" was also
suggested. In this process, straw is spread across the soil surface and allowed to decompose
naturally into the soil by the activity of worms and other organisms. Though some farmers have
adopted this process, it has not become very popular.In this backdrop, the author says farmers
want quick and easy solutions and they are very much aware of the multiple options available for
managing agro-waste. But they will give up burning rice straw only if they receive lucrative
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returns. The author suggests that the governments could convince farmers to stop burning rice
straw and help them earn lucrative returns through international carbon trading.

Philippines May Import 100,000 Tons of Rice


at Higher Price from Vietnam
Jun 17, 2015

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The National Food Authority (NFA) of the Philippines may consider to import
100,000 tons of 25% broken well-milled long grain white rice from Vietnam at a
higher price than its reference price of $408.14 after receiving higher bids twice in
the June 16 government-to-government (G2G) tender, according to local
sources.On June 16, when the NFA invited bids for the remaining 100,000 tons of
the June 5 tender, Thailand offered to sell 100,000 tons at $418 per ton, Vietnam
and Cambodia offered at $417 per ton and $464 per ton respectively. The NFA
rejected all the bids and asked the bidders to submit revised bids by 07.00 GMT.
However, Thailand backed out of the bidding as the reference price set by the NFA
was too low compared to the global prices. On the other hand Vietnam revised its
bid to supply 100,000 tons of rice at $416 per ton and Cambodia revised its bid to
supply 50,000 tons of rice at $455.5 per ton. Both the bids were still higher than
the reference price set by the NFA. However, the NFA is reportedly considering to
import rice at the lowest bid rate, which is from Vietnam.Since the NFA has no
authority to accept bids that are higher than the reference price, the matter has been
referred to the NFA Council, which has set the terms of reference for G2G
contracts, according to the Presidential Adviser on Food Security and
Modernization (PAFSAM), noted that the decision on imports is pending. He noted
that the NFA Council will meet on Wednesday to decide on the matter.
The imports are meant to maintain buffer stocks during the lean season (July December). The NFA currently holds a buffer stock of 750,000 tons of rice, which
is expected to last for 24 days. Since the NFA has to maintain a 30-day buffer
stock during lean months, it is dependent on the 100,000 tons imports.
Its just that we need to beef up and increase our buffer stock for the lean months
in line with our commitment to the government policy that every July 1 we should
have at least 30 days. We need to be compliant with our commitment to good
governance, the NFA Deputy Administrator was quoted as saying.

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