19th Feb.2014 Daily Exclusive ORYZA News by Riceplus Magazine

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TOP Contents - Tailored for YOU Latest News Headlines

India Finance Minister Announces Big News for the Nation's Rice Sector African Agricultural Technology Foundation Collaborates With Private Companies to Boost Rice Yields IRRI Scientist Urges India Punjab Farmers to Cut Rice Area to Reduce Water Use Vietnam Exports 337,318 Tons of Rice in January 1 - February 13, 2014 Well-Planned Strategy Can Help Eastern India Become Rice Bowl of India', Claims Study Asia Rice Quotes Unchanged Today Thailand PM Yingluck to Face Criminal Charges for Losses Related to Rice Mortgage Scheme Iraq Says No to Thailand Rice Until Quality Improves Oryza Afternoon Recap Chicago Rough Rice Futures Rocket Higher as Buyers Vie for Short Supplies, Firmer Grain Complex Adds Support National Economic and Social Development Board Lowers Thailand 2014 Economic Growth Forecast; PM Struggles to Fund Failing Rice Mortgage Scheme Myanmar Rice Federation Calls for Improved Rice Policies, to Compete with Neighboring Countries Oryza Rice Currency Analysis for Today Thailand Baht Falls 0.8% Oryza U.S. Rough Rice Recap Futures Market Rally Boosts Buyer Interest Oryza Global Rice Quotes
NEWS DETAILS:
India Finance Minister Announces Big News for the Nation's Rice Sector
Feb 18, 2014
In the interim budget (to be in effect until the new government is formed in May 2014) announced on February 17, 2014, Indias finance minister estimates agricultural credit by Indian banks would reach Rs.735,000 crore (around $119 billion) in the fiscal year 2013-14 (April March), which exceeds the target of Rs.700,000 crore (around $113 billion) by around 5.3%. The finance minister has fixed a target of Rs.800,000 crore (around $130
billion) towards agricultural credit for the fiscal year 2014-15. The minister says that the effective rate of interest on farm loans at 4% under the interest subvention scheme, which was introduced in 2006-07, would continue. He says that the scheme, under which Rs.23,924 crore (around $3.9 billion) has been released so far, would also continue. He projects Indias agricultural GDP growth in the 2013-14 fiscal to reach 4.6%. The finance minister estimates Indias total food grain production to increase by about 3% to around 263 million tons in FY 2013 -14. He estimates Indias agricultural exports in FY 2013-14 fiscal to increase by about 10% to around $45 billion, up from $41 billion in FY 2012-13.The finance minister also exempted service tax on loading, unloading, packing, storage and warehousing of rice. Recently, the finance ministry had removed rice from the service tax negative list and a service tax of 12.6% was imposed on rice storage and handling facilities. The finance ministry said that paddy could be defined as "agricultural produce but rice was not, since rice is a by-product of processed paddy.
Tags: India budget 2014, rice service tax
African Agricultural Technology Foundation Collaborates With Private Companies to Boost Rice Yields
Feb 18, 2014
African Agricultural Technology Foundation (AATF) has entered into public private partnership program (PPP) called "Hybrid Rice Project" with several private companies and the National Agricultural Research Systems of Kenya, Ethiopia, Uganda, Tanzania, Nigeria and Ghana with the aim of increasing rice yields in several African countries using genetics and technology. Decreasing yields per hectare and increasing rice consumption and imports and in many Southern and East African countries have become a major concern. AATF says that the partners of the Hybrid Rice Project will together develop hybrid rice germplasms that are adaptable to African weather conditions to help. The partners are keen to create sustainable hybrid rice agri-businesses to support rice farming in East, West and Southern African countries, AATF says. The project aims to develop and expand 2-line hybrid rice technology in selected African countries and ensure that the technology reaches farmers and helps improve rice yields and income streams. Under the 2-line rice hybrid system technology, a female line is developed using a temperature modulated single gene system and it is combined with a male line to achieve improved heterosis through genetic diversity in the hybrids. This system can be used to switch from fertile to sterile females by understanding the breeding and seed production environment. HEAL will basically work on developing new hybrids, according to the AATF.The public and private partners in the project will also develop and distribute seeds, train breeders and seed production specialists, establish testing and technology exchange networks, and provide other technology required to help ensure the success of the project. The project will also use web-based tools to help researchers determine both when and where to conduct various breeding operations, seed multiplication and seed production.
Tags: africa rice production, African Agricultural Technology Foundation (AATF)
IRRI Scientist Urges India Punjab Farmers to Cut Rice Area to Reduce Water Use
Feb 18, 2014
International Rice Research Institute (IRRI) scientist Dr. G.S. Khush says that rice farmers in Indias northern state of Punjab should reduce area under more water-demanding rice and switch to vegetable and fruit crops as the underground water resources in the state are declining, according to local sources.Dr. Khush told sources in Punjab, "Because of overexploitation of underground water by state farmers for watering rice, the water level in several blocks in Punjab has reached critical level." Though farm scientists are working on reducing water consumption level in rice crop, Punjab farmers could exploit great demand for vegetables in Middle East and Europe, he added. Dr. Khush was born in Punjab and spearheaded the IRRI's program for developing high-yielding disease- and insect- resistant varieties of rice. He supports GM rice and says that GM crops are very safe. He also urged for more private sector participation in marketing the rice crop in India. The Punjab Chief Minister called for a separate budget for the agriculture sector and urged the Central government to enhance the plan allocation for the agriculture sector to 10% from the current 3.7%. He also urged the Indian government to hike the minimum support price (MSP) by providing a margin of 50% over the cost of production to the farmers to ensure remunerative prices of their produce.
Tags: India rice production
Vietnam Exports 337,318 Tons of Rice in January 1 - February 13, 2014

Feb 18, 2014
Vietnam exported about 337,318 tons of rice during January 1 February 13, 2014, down about 55% from about 744,279 tons of rice exported in the first two month of 2013, according to the Vietnam Food Association (VFA). Average export price so far this year stands at about $416 per ton (FOB), down about 6% from an average export price of about $444 per ton (FOB) recorded in the first two months in 2013.During February 113, 2014, Vietnam exported about 30,064 tons of rice, down about 91% from about 340,185 tons of rice exported in full month of February 2013, and down about 90% from about 307,000 tons rice exported in January 2014. Average export price so far this month stands at about $420 per ton (FOB), down about 3% from around $434 per ton in February 2013, but up about 1% from about $415 per ton recorded in January 2014.Meanwhile, domestic paddy prices in the Mekong Delta for common stock stand at around VND 5,550 5,600 per kilogram (about $260 - $262 per ton, using current exchange rates). Vietnamese 5% broken domestic rice prices stand at around VND 7,400 - 7,500 per kilogram (about $347 - $352 per ton, using current exchange rates), while Vietnamese 25% broken rice prices stand at around VND 7,000 - 7,100 per kilogram (about $328 $333 per ton, using current exchange rates).
Tags: Vietnam rice exports, Vietnam Food Association (VFA)
Well-Planned Strategy Can Help Eastern India Become Rice Bowl of India', Claims Study
Feb 18, 2014
Integrated approach with well-planned strategy is needed to increase rice output in the Eastern India, according to a study by the Associated Chamber of Commerce and Industry of India.The study claims that the eastern India states of West Bengal, eastern Uttar Pradesh, Odisha, Bihar, Chhattisgarh, Assam and Jharkhand have the potential to emerge as the rice bowl of India. Rice production in the region, which has about 23 million hectares of rice acreage, could increase by about 16% to about 6.7 million tons by 2017-18 crop year (July - June) from the current 5.8 million tons by promoting better farm practices and agri-technologies.The study claims that recurring drought and floods, poor growth in spread of high yielding varieties, injudicious use of farm inputs and poor credit facilities are leading to lower yields in the region. The study recommends use of hybrids, intercropping, increased mechanization, use of micro nutrients, extension support and demonstration centers to increase yields in the region. Focused research in evolving hybrid seeds in developing transgenic rice to address the problem of nutrients, pests, diseases, drought and floods, says the study.
Tags: India rice production
Asia Rice Quotes Unchanged Today

Feb 18, 2014
Asia rice sellers kept their quotes mostly unchanged today. 5% Broken Rice Thai 5% rice (of new crop) is quoted around $445 - $455 per ton, about a $50 per ton premium over Viet 5% rice shown around $395 - $405 per ton. Indian 5% rice is quoted around $415 - $425 per ton, about a $20 per ton premium over Pak 5% rice quoted around $395 - $405 per ton. 25% Broken Rice Thai 25% rice (of new crop) is quoted about $390 - $400 per ton, about a $25 per ton premium over Viet 25% rice shown around $365 - $375 per ton. Indian 25% rice is quoted about $360 - $370 per ton, about a $10 per ton premium over Pak 25% rice quoted around $350 - $360 per ton. Parboiled Rice Thai parboiled rice of the old crop is quoted around $460 - $470 per ton. Indian parboiled rice is quoted around $400 - $410 per ton, about $5 per ton discount to Pak parboiled rice quoted around $405 - $415 per ton. 100% Broken Rice Thai broken rice, A1 Super, of the old crop is quoted around $315 - $325 per ton, about a $40 per ton discount to Viet broken rice shown around $355 - $365 per ton. Indian broken sortexed rice is quoted about $300 - $310 per ton, about a $20 per ton discount to Pak broken sortexed rice quoted around $320 - $330 per ton.
Tags: asian rice export quotes
Thailand PM Yingluck to Face Criminal Charges for Losses Related to Rice Mortgage Scheme
Feb 18, 2014
Four protesters in Thailand died today in clashes with police After protesters have blocked roads, stormed public buildings, and delayed elections, caretake PM Yingluck is facing charges of negligence for losses related
to the Thailand rice mortgage scheme. Yinglucks brother, Thaksin, was outed in a 2006 coup. The rice scheme had been engineered by the siblings as a way to boost rural incomes in hopes of cementing their political control in Thailand, including the goal to pass an amnesty bill that would provide Thaksin protection to return to Thailand from his self-imposed exile. The scheme became too costly and the siblings efforts to push the amnesty bill through parliament in November 2013 seemed to be too aggressive of a political gamble. The Thailand government admitted the rice scheme resulted in losses of about $4 billion for the first two harvests while independent estimates say this figure is closer to $12 billion. Anticorruption investigators have been probing caretaker PM Yingluck, with some citizens demanding that she go to prison. Thailands National Anti-Corruption Commission (NACC) said today it has gathered enough evidence to charge Yingluck with negligence for her role in overseeing the governments rice subsidy program. The plan to officially inform her of the charge February 27 and she will have a chance to defend herself before the NACC determines if she will be officially charged.Thailand is estimated to have about 18 million tons of rice in storage, accumulated under the rice mortgage scheme, about three times normal storage supplies. Theres fear that if the government offloads a lot of rice at once it will flood the market and send Thai and global rice prices spiraling lower. On the other hand, some fear prices could advance rapidly for several reasons including: rice stocks may be lower than estimated if supplies have leaked out via corrupt channels; rice stocks may be in terrible condition, rending good supplies lower than expected; and finally, the end of the rice mortgage scheme and the farmers losses from not yet being paid may reduce rice acreage in the coming crop harvests.
The Thailand rice scheme also created a bank run. The head of the state-run Government Savings Bank stepped down after trying to supply Thailands Bank for Agriculture and Agricultural Cooperatives (BAAC) with a 20 billion baht (about $620 million) credit line after the move spurred a bank run on the Government Savings Bank. Government Savings Bank recorded net withdrawals of 20b baht on February 17, compared with usual outflows of about 7 billion baht.
Tags: Thailand rice mortgage scheme
Iraq Says No to Thailand Rice Until Quality Improves

Feb 18, 2014
The Acting Director of Iraqs Grain Board, General Hassan Ibrahim, has said that Iraq will not buy Thai rice again unless the quality improves. Ibrahim said that he will meet with Thai officials to discuss the issue, although a date for the visit has not yet been established.Citing complaints about both the quality and the weight of rice sent to Iraq from Thailand, Iraq stopped purchases from Thailand in the second half of 2013, costing Thailand as much as 300,000-400,000 tons in additional sales last year sales that would have helped alleviate the massive stockpiles of rice the country is currently holding.Even though US rice and Uruguayan rice is more expensive than Thai rice, the Iraqi market prefers them due to quality, according to local sources. In 2013, Iraq was the second largest importer of Thai rice, behind Benin, according to the Thai Rice Exporters
Association. Thailand used to be the worlds largest exporter of rice but has lost that position to India in recent years.
Tags: Iraq rice imports, Thailand rice exports
Oryza Afternoon Recap Chicago Rough Rice Futures Rocket Higher as Buyers Vie for Short Supplies, Firmer Grain Complex Adds Support
Feb 18, 2014
Chicago rough rice futures for March delivery settled 27 cents per cwt (about $6 per ton) higher at $15.855 per cwt (about $350 per ton). Rough rice futures recovered in a big way today, following a double digit loss ahead of the extended holiday weekend. Prices shot up through multiple layers of resistance before ultimately closing above the 200-day moving average, noted at $15.790 per cwt (about $348 per ton), for the first time since early December. Todays action once again saw price break out beyond the upper Bollinger band which provided little in the way of resistance during a late session rally. The faster moving averages have turned positive and have moved to cross the longer term averages from below, further confirming that a bullish trend is underway. Todays action is seen as a further positive development for trade direction, however a bit of a pullback could be in store given the speed of the current rally. The other grains finished sharply higher today; soybeans closed about 1.8% higher at $13.6100 per bushel; wheat finished about 2.3% higher at $6.1200 per bushel; and corn finished the day about 1% higher at $4.4950 per bushel.U.S. stocks fluctuated on Tuesday, with Wall Street on uncertain footing in the wake of Wall Street's biggest weekly rise this year, as investors considered an acquisition and downbeat reports on builder confidence and manufacturing in New York. A measure of home builder confidence fell dramatically in February as dismal weather hit sales. And, the New York Fed's "Empire State" general business conditions index had factory activity in New York, the upper part of New Jersey and lower portion of Connecticut slowing in February, coming in at 4.48 in February from 12.5 in January. Economists polled by Reuters expected a reading of 9.0. After a three-day holiday weekend, the Dow Jones Industrial Average fell 14.82 points, or 0.1 percent, to 16,139.57. The S&P 500 rose 2.45 points, or 0.1 percent, to 1,841.08, with health care the best performing and telecommunications faring worst among its 10 major sectors. Rising to a 13-year high, the Nasdaq lately gained 28.47 points, or 0.7 percent, to 4,272.49 Gold is trading about 0.4% higher, crude oil is seen trading about 1.5% higher, and the U.S. dollar is seen trading about 0.2% lower at about 1:00pm Chicago time.Friday, there were 920 contracts traded, down from 1,377 contracts traded on Thursday. Open interest the number of contracts outstanding on Friday decreased by 122 contracts to 7,952.
Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market
National Economic and Social Development Board Lowers Thailand 2014 Economic Growth Forecast; PM Struggles to Fund Failing Rice Mortgage Scheme
Feb 18, 2014
The National Economic and Social Development Board (NESDB) in Thailand has lowered the country's economic growth forecast for 2014 to 3-4% from its earlier forecast of 4-5% after GDP growth in the fourth quarter of 2013 slowed down to 0.6%, according to local sources. The NESDB said in a statement on Monday that the economy grew by 2.9% in 2013, which was reportedly lower than the 3% predicted by the Bank of Thailand (BoT) in November 2013. The NESDB also lowered its export and import growth projections for the country. While the Board revised the 2014 export growth down to 5-7% from its previous projection of 7%, it cut its projection for 2014 import growth to 5.7% from its previous forecast of 6.7%.Although sources from the Finance Ministry expressed doubts whether the credit rating agencies would downgrade Thailand, both Moody's Investors Service and Fitch Ratings assigned "Baa1" and "BBB" respectively for Thailand, with stable outlook. The rating agencies said they did not consider government's unpaid debts to the country's farmers as a technical default as the delayed payments were largely due to prolonged political conflict.The Caretaker government is still struggling to garner funds to make payments to the farmers. The labor union of the state-run Government Savings Bank (GSB) are opposing the bank's decision to approve a 20 billion baht (around $618 million) loan to the Bank of Agriculture and Agricultural Cooperatives (BAAC) saying lending to finance the troubled rice pledging scheme would undermine the confidence of depositors. While the GSB President maintained that the lending was not meant to support the rice pledging scheme, the government insisted on making the longoverdue payments to the farmers from Monday.Meanwhile, the caretaker Prime Minister has assured that payments will be made to all farmers participating in the rice-pledging scheme. She blamed the political protestors for using the farmers' problems to bring down the caretaker government. The farmers are now in the middle of a political game being played by the protest leaders, who are refusing to follow the democratic and legal path, she adds. The PM said the BAAC would extend the period of debt repayments and increase credit line limits. The government needs about 130 billion baht (around $4 billion).
Tags: Thailand rice mortgage scheme
Myanmar Rice Federation Calls for Improved Rice Policies, to Compete with Neighboring Countries
Feb 18, 2014
The Myanmar Rice Federation (MRF) has called for improved rice policies, to compete with neighboring rice exporting countries like India, Thailand, Vietnam and China. The General-Secretary of the MRF said the
government needs to adopt more comprehensive rice policies, which allow foreign investors to invest freely in areas such as seed production, rice milling or industrial farming.He noted that the existing policy to ensure domestic production and export the surplus is too general and a more precise and strategic policy specifying the roles of rice millers, traders, companies and farmers as well as the insurance system is needed. The MRF will cooperate with the government, international organizations and civil society groups to work out new rice policies, he adds. The General-Secretary also said that the government and the MRF are working out on a draft of new rice policies and will shortly present it to the President and the public, as well as political parties and civil society organizations for their input and advice.The Democratic Voice of Burma, a non-profit media organization, also said that Myanmar lacks comprehensive policy governing foreign investment in agriculture and the export of rice despite scrapping the longstanding ban on private rice exports in 2010. The modernization needs of the country's agriculture sector are vast, says the media organization. Myanmar was the world's largest rice exporter from 1961 to 1963.The USDA estimates the country to produce 1.1 million tons of rice in the MY 2013-14, about 3% more than the 1.07 million tons in the MY 2012-13. The US agency estimates the country's consumption needs at 1.025 million tons, slightly up from last year's 1.02 million tons. The country's exports are estimated to remain at last year's level of around 750,000 tons.
Tags: myanmar rice exports
Oryza Rice Currency Analysis for Today Thailand Baht Falls 0.8%
Feb 18, 2014
U.S. dollar index was down -0.16% from the open today, when it traded at 80.010 at the close. Euro was stronger +0.37% by the close, trading around 1.3758 by end of day, after trading between an intraday high of 1.3770 and low of 1.3695. Thai baht was weaker -0.78%, trading at 32.485 at the close of business. Indian rupee was weaker -0.58% at 62.2200. Brazilian real was -0.22% weaker than the open at todays close, when it ended at 2.3952 reais per dollar. Pakistan rupee was +0.03% stronger at 104.8800. Vietnamese dong was +0.02% stronger at 21100. Mexican peso was -0.16% weaker today, when it traded at 13.2314 pesos per dollar by the close of business today.
Chinese yuan was weaker -0.06%, trading at 6.0675. Argentine peso was -0.09% weaker, trading at 7.7681 pesos per dollar.
Tags: foreign exchange rates
Oryza U.S. Rough Rice Recap Futures Market Rally Boosts Buyer Interest
Feb 18, 2014
The U.S. cash market was fairly active today after a rally in the futures market led some buyers to get more aggressive.As of today, old crop offers were unchanged and could be found somewhere between $15.55$16.11 fob farm (about $343-$355 per ton) depending on where they are located and how quickly they could ship.Bids from larger mills increased today to around $15.35 per cwt (about $338 per ton) while bids for exporters were unchanged near $15.55 per cwt (about $343 per ton), both for February through March delivery, although there were reports of rice trading as low as $15.75 per cwt (about $347 per ton) delivered barge facility and as high as $16.25 per cwt (about $358 per ton) delivered mill.
Tags: U.S. rice market, U.S. rice prices
Oryza Global Rice Quotes

February 18th, 2014 Long grain white rice - high quality Thailand 100% B grade 460-470 Vietnam 5% broken 395-405 India 5% broken 415-425 Pakistan 5% broken 395-405 Cambodia 5% broken 450-460 U.S. 4% broken 575-585 Uruguay 5% broken 625-635 Argentina 5% broken 625-635 Long grain white rice - low quality Thailand 25% broken 390-400 Vietnam 25% broken 365-375 Pakistan 25% broken 350-360 Cambodia 25% broken 420-430 India 25% broken 360-370 U.S. 15% broken 550-560
Long grain parboiled rice Thailand parboiled 100% stxd 460-470 Pakistan parboiled 5% broken stxd 405-415 India parboiled 5% broken stxd 400-410 U.S. parboiled 4% broken 660-670 Brazil parboiled 5% broken 590-600 Uruguay parboiled 5% broken NQ Long grain fragrant rice Thailand Hommali 92% 945-955 Vietnam Jasmine 525-535 India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ Cambodia Phka Malis 895-905 Brokens Thailand A1 Super 315-325 Vietnam 100% broken 355-365 Pakistan 100% broken stxd 320-320 Cambodia A1 Super 365-375 India 100% Broken stxd 300-310 Egypt medium grain brokens NQ U.S. pet food 470-480 Brazil half grain 345-355 Medium grain milled U.S. Calrose 4% broken Egypt medium grain 6%
620-630 NQ
All prices USD per ton, FOB vessel, oryza.com
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19th Feb.2014 Daily Exclusive ORYZA News by Riceplus Magazine

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19th February , 2014

Chinese COLOR SORTER as low as

Be the part of Rice plus authors Visit: www.ricepluss.com,www.publishpk.net mujahid.riceplus@gmail.com riceplus@irp.edu.pk

TOP Contents - Tailored for YOU Latest News Headlines

Vietnam Exports 337,318 Tons of Rice in January 1 - February 13, 2014

Asia Rice Quotes Unchanged Today

Iraq Says No to Thailand Rice Until Quality Improves

Oryza Global Rice Quotes

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

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