Pattabhi Agro Foods Pvt Ltd has launched its premium brand of rice labeled as 'LOHITHA' - The Delicious Rice. Read More

 
 
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Chicago rough rice futures for May delivery are currently noted 3 cents per cwt (about $1 per ton) higher at $9.805 per cwt (about $216 per ton) during early floor trading in Chicago. The other grains are seen trading lower: soybeans are currently seen about 0.1% lower, wheat is listed about 0.2% lower and corn is currently noted 1% lower.

U.S. stock index futures indicated a higher open on Tuesday, ahead of a spate of major earnings and as oil futures for May were set to expire. It\'s quiet on the data front, so earnings reports will dominate the early hours. Brent and WTI crude will be in focus on Tuesday, as U.S. oil futures for next month expire. Earlier in the day, oil prices dipped slightly, but remained near a 2015 peak reached last week. U.S. stocks closed sharply higher on Monday, after China\'s central bank announced unexpected stimulus measures. On Tuesday, Asian and European markets rose in early trade as investors reacted to a slew of corporate earnings reports. Gold is currently trading about 0.5% higher, crude oil is seen trading about 0.5% lower,  and the U.S. dollar is currently trading about 0.2% higher at 9:00am Chicago time.

Tue, 21 Apr 2015   View More
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The government of Indonesia is planning to assign a state subsidiary company to buy low quality rice from farmers at a commercial price in order to stabilize prices, Reuters quoted the Minister for State Companies as saying.

The Minister told local sources that the Ministry is likely to assign a subsidiary of a state fertilizer company to buy lower quality rice from farmers. She also noted that the rice would be bought with commercial fund and not from the state budget. The price would be lesser than the price set by the government for rice bought by the state logistics company Bulog, she said.

Bulog usually buys only standard quality rice from farmers with the funds from the state budget.

The Minister also stated that such a strategy was used by the government earlier to stabilize corn prices in the country.

Average domestic rice prices in Indonesia have been increasing since September 2014 and reached a high of around 10.375 million Rupiah (around $790) per ton in March 2015. The prices reversed slightly in April 2015 due to the ongoing procurement activity by the government.

Bulog is expecting to procure between 2.5 - 2.75 million tons of rice from local farmers, below the 3.2 million tons target set by the government. 

Tue, 21 Apr 2015   View More
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Below are farm gate paddy rice quotations supplied by Milan Grain Exchange,  as of April 14:

Arborio-Volano rice was shown at 695-725 euros (about $749-781) per ton, unchanged from the prior week.

Balilla, Centauro and similar varieties of paddy rice quotes are firm at 415-430 euros (about $447-463) per ton, unchanged from the prior week, but up about 100 euros (about $107) per ton if compared to seven weeks ago.

Lido, Crono, Flipper and similar paddy varieties are unchanged at 360-375euros (about $387-404) per ton.

Padano-Argo is shown at 550-650 euros (about $592-700) per ton, unchanged from the prior week.

Vialone Nano slightly decreased at 740-790 euros (about $797-851) from 745-795 euros (about $802-856) per ton of April 7.

Thaibonnet and similar Indica vindications slightly increased to 335-345 euros (about $361-371) per ton from 328-338 euros (about $353-364) per ton on April 7; Sant\'Andrea quoted 565-615 euros (about $608-662) per ton on April 14, unchanged from a week prior; Carnaroli was fixed at 695-725 euros (about $749-781) per ton, unchanged from a week prior.

Baldo paddy quotes fell to 560-610 euros (about $603-657) per ton on April 14, starting from 565-615 euros (about $608-662) per ton on April 7.

Roma was firm at 585-615 euros (about $630-662) per ton, unchanged from a week prior.

Selenio was shown at 405-430 euros (about $436-463) per ton on April 14, unchanged from a week prior.

Augusto was out at 405-420 euros (about $436-452) per ton, unchanged from a week prior; Loto and Nembo reached the same level of 405-420 euros (about $436-452) per ton, unchanged from a week prior; Luna Cl, Dardo and similar varieties were quoted 360-380 euros (about $387-409) per ton, unchanged from a week prior.

Tue, 21 Apr 2015   View More
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Chicago rough rice futures for May delivery settled 20.5 cents per cwt (about $5 per ton) higher at $9.980 per cwt (about $220 per ton). Rough rice futures rebounded today erasing losses sustained yesterday but were unable to maintain their placement above $10.000 per cwt (about $220 per ton). Although today’s action is seen as a positive development and could indicate a market that is attempting to put in a longer term low, technically the market remains bearish and true reversal in the trend will take additional gains in coming sessions to be confirmed. The other grains finished the day mostly lower; Soybeans closed about 0.3% lower at $9.7675 per bushel; wheat finished about 0.4% higher at $5.0025 per bushel, and corn finished the day about 1.3% lower at $3.7300 per bushel.

U.S. stocks traded mixed on Tuesday, mostly failing to hold momentum from Monday as investors eyed a slew of earnings reports. Stocks opened higher but soon pared gains. The S&P 500 dipped into negative territory. The Dow Jones industrial average traded mostly lower. The Nasdaq traded about half a percent higher, outperforming the major indices. The major indices are little changed from their levels one month ago. The corporate reports are a mixed bag, as analysts said the tendency of companies to beat on earnings but miss on revenue is a long-term negative. The Dow Jones Industrial Average traded down 71 points, or 0.40%, at 17,964. The S&P 500 traded down 2.41 points, or 0.11%, at 2,098, with materials leading six sectors lower and healthcare leading advancers. The Nasdaq traded up 24 points, or 0.48%, at 5,018. U.S. stocks closed sharply higher on Monday, after China\'s central bank announced unexpected stimulus measures. Gold is trading about 0.8% higher, crude oil is seen trading about 1.8% lower, and the U.S. dollar is seen trading about 0.1% lower at about  1:00pm Chicago time.

Monday, there were 1,093 contracts traded, up from 1,086 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday increased by 97 contracts to 11,618.

Tue, 21 Apr 2015   View More
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South Korea\'s state run Agro Fisheries & Food Trade Corporation (KAFTC) has purchased 72,000 tons of non-glutinous brown rice of the U.S. and Chinese origins for delivery between August and September 2015, according to a statement on its website.

The tonnage and price details of the various varieties of rice purchased are as below.

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KAFTC originally sought to purchase about 87,000 tons of non-glutinous rice via 9 tenders but will open tenders for 10,000 tons of non-glutinous short-grain brown rice and 5,000 tons of non-glutinous medium-grain brown rice after sample tests are complete, according to the website.

The international tender for the above qualities of rice closed on April 20, 2015 and electronic bidding for the same took place on April 21, 2015.

Wed, 22 Apr 2015   View More
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The UN\'s Food and Agriculture Organization (FAO) has forecasted Vietnam\'s 2015 rice exports to remain at last year\'s below-average level of 6.5 million tons. Vietnam exported about 1.144 million tons of rice in January 1 - April 13, 2015, down about 35% from about 1.76 million tons of rice exported in first four months of 2014, according to data from the Vietnam Food Association (VFA).

The FAO forecasts Vietnam\'s 2015 total paddy production at a record 44.8 million tons (around 28.9 million tons, basis milled), slightly down from last year\'s 44.99 million tons (around 29 million tons, basis milled).

Harvesting of the 2014-15 winter/spring paddy crop, which accounts for about 45% of annual production, began in late March and will continue till July in the north. Planting for 2015 summer/autumn crop is underway. Prolonged poor rains in the Central Highlands and Southern Coastal provinces are expected to slightly affect the output of the winter/spring and summer/autumn crops in these regions. However, their impact on the national production is likely to be very minimal as the two regions contribute to only 5% of the total area planted. The FAO forecasts the 2015 winter/spring rice harvest at 20.6 million tons, down 1% from the record level in 2014. 

Wholesale rice prices of rice in Vietnam were generally stable in March 2015. The downward pressure from the 2014-15 winter/spring crop was offset by the government supported procurement program at increased prices and strong export demand. However the prices were below their year-ago levels.

USDA estimates Vietnam to produce around 28 million tons of rice, basis milled (around 45 million tons, basis paddy) and export around 6.7 million tons in 2014-15 (January 2015 - December 2015).

Wed, 22 Apr 2015   View More
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In the March Crop Monitoring System Bulletin, the National Space Agency of Pakistan (SUPARCO) and UN’s Food and Agriculture Organization (FAO have estimated Pakistan FY 2014-15 (July - June) paddy rice production to decline about 19% to around 8.437 million tons (around 5.65 million tons, basis milled) from around 10.04 million tons (around 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 2014 having damaged around 116,700 hectares of paddy fields. Over 217,000 tons of paddy is said to be lost in the Punjab state. The government of Punjab reportedly announced a compensation of Rs.16 billion (around $159 million) to the flood-affected communities.

SUPARCO is estimating FY 2014-15 paddy rice acreage at around 3.285 million hectares and yield at around 2.568 tons per hectare.

Meanwhile, experts have been urging the government to take appropriate measures to increase fertilizer production to around 5 million tons from the existing 3.1 million tons. Pakistan needs about 4 million tons of fertilizer yearly for paddy cultivation. production reaches 5 million tons.

USDA estimates Pakistan\'s MY 2014-15 (November - October) milled rice production to increase about 3% to around 6.9 million tons (around 10.35 million tons, basis paddy) from around 6.7 million tons (around 10.05 million tons, basis paddy) in MY 2013-14.

 

Wed, 22 Apr 2015   View More
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Australian rice growers are confident that the country\'s paddy rice output would reach 700,000 tons (around 504,000 tons, basis milled) in 2015  due to favorable weather conditions, according to ABC.net.

One of the senior rice growers told reporters that growers are producing three varieties of long-grain and one variety of short-grain this year. He noted that harvesting of the 2015 rice crop is underway.

He however noted that fears of El Nino and less water allocation continue to threaten Australian rice growers.

The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) estimates Australia\'s MY 2014-15 (April 2014 - March 2015) at around 684,000 tons (around 492,000 tons, basis milled), down about 18% from an estimated 833,000 million tons (around 600,000 tons, basis milled) in MY 2013-14 due to a decline in planting area reflecting reduced supplies of irrigation water in the main rice producing region of New South Wales.

USDA estimates Australian paddy rice production to decline to around 700,000 tons (around 504,000 tons of rice, basis milled) in MY 2014-15 (April - March), down about 15% from an estimated 833,000 tons of paddy rice (around 600,000 tons of rice, basis milled) produced last year.

Wed, 22 Apr 2015   View More
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Indonesia\'s State-owned Enterprises Minister criticized the state logistics agency Bulog for its inefficiency in procuring rice from the ongoing harvest, according to local sources.

The Minister noted that the agency has failed in collecting rice from farmers in several areas in Central and East while the Ministry expected Bulog to monitor the distribution of harvest yields across the country more proactively.

She also stated that prices have not been stabilized yet owing to Bulog\'s slow and inefficient procurement process. She added that if this continues, farmers would be impacted by sharp fluctuations in rice prices and increasing supplies.

The Minister urged the agency to visit all the rice producing regions and monitor the condition of paddy harvests in those regions and support farmers.

Bulog is expecting to procure between 2.5 - 2.75 million tons of rice from local farmers, down about 14 - 22% from its target of 3.2 million tons. The government\'s recent hiking of the rice purchasing price/Harga pokok penjualan (HPP) by about 10% to around Rp7,260 per kilogram (around $577 per ton) from the current Rp6,600 per kilogram (around $524 per ton) is unlikely to have a positive effect on rice procurement.

The government of Indonesia is keen on increasing 2015 paddy rice production by about 4% to around 73.4 million tons (around 48.44 million tons, basis milled) from an estimated 70.61 million tons (around 46.65 million tons, basis milled) in 2014; and avoid imports. Indonesia imported 425,000 tons of rice from Thailand and Vietnam in 2014.

According to the UN\'s FAO, average domestic rice prices in Indonesia have been increasing since September 2014 and reached a high of around 10.375 million Rupiah (around $790) per ton in March 2015. The prices reversed slightly in April 2015 due to the ongoing procurement activity by the government. 

Wed, 22 Apr 2015   View More
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Vietnam rice sellers lowered their quotes for 25% broken rice by about $5 per ton to around $330-$340 per ton today. Other Asia rice quotes are unchanged today.

5% Broken Rice

Thailand 5% rice is indicated at around $380 - $390 per ton, about a $25 per ton premium on Vietnam 5% rice  shown at around $355 - $365 per ton. India 5% rice is indicated at around $370 - $380 per ton, about a $5 per ton discount to Pakistan 5% rice shown at around $375 - $385 per ton.

25% Broken Rice

Thailand 25% rice is shown at around $355 - $365 per ton, about a $25 per ton premium on Vietnam 25% rice shown at around $330- $340 per ton, down about $5 per ton from yesterday. India 25% rice is indicated at around $345 - $355, about a $15 per ton premium on Pakistan 25% rice shown at around $330 - $340 per ton.

Parboiled Rice

Thailand parboiled rice is indicated at around $380 - $390 per ton. India parboiled rice is indicated at around $365 - $375 per ton, about a $15 per ton discount to Pakistan parboiled rice shown at around $380 - $390 per ton.

100% Broken Rice

Thailand broken rice, A1 Super, is indicated at around $320 - $330 per ton, about a $10 per ton premium on Vietnam 100% broken rice shown at around $310 - $320 per ton. India\'s 100% broken rice is shown at around $275 - $285 per ton,  about a $10 per ton discount to  Pakistan broken sortexed rice shown at around $285 - $295 per ton.

Wed, 22 Apr 2015   View More
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Chicago rough rice futures for May delivery are currently noted 7 cents per cwt (about $2 per ton) higher at $10.050 per cwt (about $222 per ton) ahead of floor trading in Chicago. The other grains are seen trading mostly lower: soybeans are currently seen about 0.4% lower, wheat is listed about 0.2% higher and corn is currently noted 0.5% lower.

U.S. stock index futures pointed to a flat to higher open on Wednesday, ahead of more major earnings releases and some key housing data. Housing data will also be in focus, with the FHFA house price index for February showing a 0.7% increase from the previous month. Analysts polled by Reuters expected a 0.3% gain. Existing home sales data for March at 10:00 a.m. ET is expected to show a second consecutive monthly increase, to just over 5 million, broadly matching the average monthly reading since last summer. In an encouraging sign that the housing market is picking up, total mortgage application volume rose 2.3% week to week on a seasonally adjusted basis for the week ending April 17th, according to the Mortgage Bankers Association (MBA). U.S. stocks closed mixed on Tuesday, mostly failing to hold momentum from Monday, as investors reacted to earnings reports. The trend of earnings beats and revenue misses continued after the close. European stocks turned lower in morning trade on Wednesday, as investors digested a slew of earnings from European companies. Gold is currently trading about 0.5% lower, crude oil is seen trading about 0.1% higher,  and the U.S. dollar is currently trading a touch higher at 9:30am Chicago time.

Wed, 22 Apr 2015   View More
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The Philippines is planning to import rice from Myanmar, India and Pakistan to cater to the increased demand following a recent cyclone, Reuters quoted local sources as saying.

The south-east Asian nation is also planning to import rice from India and Pakistan. It already struck government-to-government (G2G) contracts with Thailand and Vietnam to import 500,000 tons of rice before May 2015 to ensure adequate stocks ahead of the lean season as well as to curb price hikes.

The National Food Authority (NFA) of the Philippines imported over 1.7 million tons of rice last year, including 300,000 tons of 2013 residual imports.

USDA estimates the Philippines to produce around 12.2 million tons of rice, basis milled, in MY 2014-15 (July - June) and import around 1.6 million 

Wed, 22 Apr 2015   View More
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Rice farmers in U.S. state of California are again facing water shortages that producers say will reduce production in 2015, after a reduction in production in 2014 .   California produces about 80% of the nation\'s medium grain rice.

The agriculture sector in the state has also been receiving criticism for consuming much of state\'s water resources.  The figure most often cited is that agriculture - including rice - uses 80% of California’s water, but the California Rice Commission points out that this statistic is misunderstood. The 80% refers to “developed water,\" that is “water held behind dams, put in canals and pump[ped] across the state,” according to the commission.  However, California also receives “200 million acre feet of water annually from precipitation and imports from the states Colorado, Oregon and Mexico.  Agricultural water use totals about 33 million acre-feet in an average year, which is about 17% of the water received in the state,” the commission writes.  The commission goes on to say that while 23% of California’s rice acreage was left fallow in 2014 and that figure will likely jump to 30-35% in 2015.

The water cutbacks imposed on agriculture, and specifically rice, also have far reaching implications on the environment since paddy rice fields support the habitat for snakes, fish and waterfowl.

Thu, 23 Apr 2015   View More
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Farmers often face a lot of burden in disposing the rice straw from their fields. They particularly face difficulties in packing and transporting bales of rice straw because of their hefty size. Due to these reasons, farmers prefer to burn it in their fields. However, burning is understood to cause several environmental and health hazards.

According to SciDev.Net, a researcher at the National Research Center under the Department of Animal Nutrition in Egypt has devised a method to reduce the size of the rice straw bales allowing easy storage and transportation.

He used a chopper invented and patented by an Egyptian scientist last December to cut the rice straw into small pieces (not exceeding 2 centimeters height). The small pieces of rice straw are compressed into a block of wood. This block of wood can be converted into animal feed by treating it with the bio fertilizer EM1. The straw thus treated is not exposed to air, water or sunlight for about one to one-and-half months.

This invention allows farmers to dispose off their rice straw easily without the need to burn it thereby reducing the environmental ill effects. Also the bales treated to convert into animal feed are found to have increased levels of protein content, fiber content and soluble sugars. 

The researcher told reporters that rice farmers in top rice-growing Asian countries can benefit from this innovation. He also noted that he is waiting for the Agriculture Ministry to approve his innovation and allow for establishing a commercial production line for the manufacture of animal feed using this method.

Thu, 23 Apr 2015   View More
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Thailand\'s National Legislative Assembly (NLA) began hearing in the impeachment case against the former Commerce Minister, former Deputy Commerce Minister and former Director-General of the Department of Foreign Trade today, for their alleged corruption in government-to-government (G2G) rice deals with two Chinese companies, according to local sources.

The National Anti-Corruption Commission (NACC) alleged that the three individuals allowed two Chinese companies, which were reportedly not authorized by the Chinese government, to seal G2G contracts for about 1.2 million tons of rice with the Thai government without participating in a bid. The NACC reportedly found in its investigation that the deal never happened and the rice was sold locally to Thai companies at below market prices. It noted that the three individuals violated the Criminal Code, the Public Competitive Bidding Act and the Anti-Corruption Act.

The NACC reportedly testified before the NLA regarding the allegations against the three individuals. The three accused are also supposed to deliver their defence testimony before the NLA. The two sides are to deliver their closing statements on May 7, 2015; and the NLA will vote on impeachment of the three individuals on May 8, 2015.

The NLA will set up a seven-member committee to raise questions for the three individuals to answer as well set dates for the enquiry sessions.

The Thai NLA impeached the former Prime Minister on January 23, 2015 for encouraging corruption in the rice pledging scheme introduced by her government in October 2011. 

Thu, 23 Apr 2015   View More
BRUSSELS (Reuters) - Once depicted as a \"Blue Banana\" stretching from Manchester to Milan, Europe\'s industrial heartland has moved eastwards just as its political center of gravity has shifted to Germany.
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Sun, 15 Mar 2015   View More
CERNOBBIO, Italy (Reuters) - The European Central Bank\'s bond purchases will create an unsustainable stock market rally and are unlikely to boost euro zone investments, Greek Finance Minister Yanis Varoufakis warned on Saturday.






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Sat, 14 Mar 2015   View More
SHARM EL-SHEIKH, Egypt (Reuters) - Oil company BP has signed an agreement to invest $12 billion in Egypt that will produce 3 billion barrels of oil equivalent, a joint statement from the company and the government said on Saturday.






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Sat, 14 Mar 2015   View More
NEW YORK (Reuters) - U.S. consumer sentiment fell in March as optimism slipped among lower- and middle-income households, a survey released on Friday showed.






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Fri, 13 Mar 2015   View More
SEATTLE (Reuters) - Microsoft is working on an advanced version of its competitor to Apple\'s Siri, using research from an artificial intelligence project called \"Einstein.\"






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Fri, 13 Mar 2015   View More
NEW YORK (Reuters) - Nasdaq OMX Group Inc said on Friday that several of its operated exchanges briefly declared \"self-help\" against the NYSE AMEX options exchange.
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Fri, 13 Mar 2015   View More
LONDON (Reuters) - The euro\'s slide toward parity with the dollar will provide a much-needed boost for European companies this year and force U.S. rivals to adapt their businesses or risk losing market share.






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Fri, 13 Mar 2015   View More
DETROIT (Reuters) - The family of a woman who died in a crash later blamed on a faulty General Motors Co ignition switch has settled a civil lawsuit against the automaker, ending litigation that helped bring to light the company’s decade-long delay in recalling millions of defective vehicles.
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Fri, 13 Mar 2015   View More
(Reuters) - Lumber Liquidators Holdings Inc\'s shares fell as much as 10 percent on Friday, reversing some gains from a day earlier, after brokerages cut their price targets, saying the hardwood flooring retailer\'s defense of its products left some questions unanswered.






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Fri, 13 Mar 2015   View More
(Reuters) - Billionaire investor Bill Ackman said some people hired by a consulting group working for his hedge fund had received subpoenas from federal agencies investigating possible manipulation of Herbalife Ltd\'s stock.
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Fri, 13 Mar 2015   View More
BRUSSELS (Reuters) - The European Commission warned of \"catastrophe\" if Greece has to abandon the euro and its chief executive, Jean-Claude Juncker, urged EU governments to show solidarity as Athens struggles to secure more credit.






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Fri, 13 Mar 2015   View More
NEW YORK (Reuters) - Global oil prices tumbled on Friday and fell 9 percent on the week, hit by a renewed rally in the dollar and a warning by the International Energy Agency (IEA) that the oil glut is growing.






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Fri, 13 Mar 2015   View More
NEW YORK (Reuters) - U.S. stocks fell on Friday and the Dow and S&P 500 registered a third week of losses as the dollar resumed its climb, adding to worries about the impact on U.S. multinationals\' earnings.






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Fri, 13 Mar 2015   View More
WASHINGTON (Reuters) - U.S. producer prices fell in February for a fourth straight month, pointing to tame inflation that could argue against an anticipated June interest rate hike from the Federal Reserve.
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Fri, 13 Mar 2015   View More
(Reuters) - DuPont rejected hedge fund Trian Fund Management LP\'s proposal to add two nominees each to the chemical conglomerate\'s board and the board of a unit the company plans to spin off, in a letter to activist investor Nelson Peltz.






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Fri, 13 Mar 2015   View More
NEW YORK (Reuters) - U.S. stocks fell on Friday and the Dow and S&P 500 registered a third week of losses as the dollar resumed its climb, adding to worries about its impact on U.S. multinationals\' earnings.






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Fri, 13 Mar 2015   View More
(Reuters) - BlackBerry Ltd on Friday won the dismissal of a U.S. lawsuit accusing it of fraudulently inflating its stock price by painting a misleadingly upbeat picture of the prospects for its BlackBerry 10 smartphone line.
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Fri, 13 Mar 2015   View More
LOS ANGELES (Reuters) - Chinese automaker BYD Co Ltd , backed by Warren Buffett\'s Berkshire Hathaway Inc , aims to triple its production of batteries as it takes on Tesla Motors in the race to supply electric vehicles and boost energy storage.






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Fri, 13 Mar 2015   View More
BOSTON (Reuters) - A decision by Coca-Cola Co\'s chief executive to decline his 2014 bonus did not go far enough, a well-known pay critic said Friday, indicating the company could face more scrutiny of its compensation ahead of its shareholder meeting this spring.
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Fri, 13 Mar 2015   View More
U.S. stock markets are in the midst of a \"\'patient\' panic\" ahead of Wednesday\'s Federal Reserve statement, when many investors expect a change in the Fed\'s language that would send the clearest signal yet that a rate hike is coming soon.






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Sat, 14 Mar 2015   View More
SEATTLE (Reuters) - Boeing Co has started using a new automated system to build wing panels for 737 jetliners, an important step in preparing to hit record production speeds while introducing new models of the popular plane.
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Sat, 14 Mar 2015   View More
CHICAGO (Reuters) - A U.S. home improvement association and several individual contractors said on Friday they would recommend customers avoid Lumber Liquidators Holdings Inc , highlighting the widening fallout from allegations about the safety of its flooring.






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Sat, 14 Mar 2015   View More
SEATTLE (Reuters) - Boeing Co has started using a new automated system to build wing panels for 737 jetliners, an important step in preparing to hit record production speeds while introducing new models of the popular plane.
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Sat, 14 Mar 2015   View More
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Plastic rice made by mixing potatoes, sweet potatoes and Chinese polymer is similar to natural rice and can hardly be differentiated by mere look. However, when cooked, the rice remains hard and soup made by it forms a plastic sheath, which burns like plastics when burned.

How is this rice made? The potatoes are first turned into the shape of rice grains and industrial synthetic resins are then added to the mix in order to get the texture of rice.

This type of plastic rice is said to be causing gastritis and other stomach related diseases.

Such type of rice packages have been found to be selling in some parts of India\'s southern state Kerala, according to local sources.

Consumers told local sources that such packages are undetectable as they are being mixed with normal rice packs. It is understood that this type of rice is being imported from China or is being bought online from Chinese and Singapore supermarkets.

Experts noted that currently there\'s no system to check imports of such rice into the country. But going forward, the Indian government may have to put some procedures in place to avert the entry of such artificial and harmful products into the country. India basically does not need to import rice given its huge production potential.

Earlier, Chinese plastic rice as well as the locally produced Chinese rice have been criticized for one being poisonous and the other being toxic after being contaminated with metals such as cadmium.

Thu, 12 Mar 2015   View More
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The Chairman of the Rice Exporters Association of Pakistan (REAP) has forecasted that the country would not be able to meet its rice export target of around 3.8 million tons in FY 2014-15 (July - June) as demand from China and Malaysia has been falling, according to Bloomberg.

The REAP Chairman noted that Pakistan\'s rice exports may reach around 3.5 million tons in 2014-15, of which 600,000 tons are expected to be basmati.

Currently Pakistan\'s 5% rice export prices are quoted at around $355 per ton, much lower than Thai 5% prices of around $400 per ton, Viet 5% prices of around $370 per ton and India 5% prices of around $395 per ton. Yet, the demand has been thin partly due to excessive stock offloading by Thailand and re-entry of Myanmar into the global rice market.

Other top rice exporters such as Thailand, Vietnam and India are also facing lower export demand this year.

Pakistan has exported around 2.26 million tons of rice (around 313,540 tons of basmati and around 1.95 million tons of non-basmati) in the first seven months of FY 2014-15 (July 2014 - June 2015), up about 2% from around 2.22 million tons (around 336,290 tons of basmati and around 1.88 million tons of non-basmati) exported during the same period in FY 2013-14.

The South Asian nation exported around 3.16 million tons of rice FY 2013-14, down about 7% from around 3.4 million tons exported in 2012-13.

Thu, 12 Mar 2015   View More
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The government of China has sold around 15,268 tons or 1.2% of around 1.4 million tons of late-harvest rice from reserves, Bloomberg quoted a statement posted on the National Grain and Oil Trade Center.

The government sold the rice at an average price of around 2,710 yuan (around $433) per ton.

The government usually procures rice from farmers at prescribed prices to stabilize market prices and protect farmers\' interests. This year, the government reportedly planned to build more granaries to accommodate more stocks under its price intervention programs.

Thu, 12 Mar 2015   View More
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European paddy quotes in the weeks between February 24 and March 3 show some slight movement, both for Indica and for Japonica varieties.

Below are European paddy and rice quotations supplied by European Union on March 3: 

SPAIN - Japonica paddy quotes decreased to 301 euros (about $ 317) per ton on March 3, from 302 euros (about $ 318) per ton on February 24. On March 3 Indica paddy was unchanged at 267 euros (about $ 281) per ton. Milled Japonica rice quoted at 567 euros (about $ 597) per ton on March 3, from 561 euros (about $ 591) per ton on February 24.                                       

PORTUGAL - Long A paddy indications increased to 325 euros (about $ 342) per ton on March 3, up from 314 euros (about $ 331) per ton on February 24. Meanwhile, Long B paddy did not receive quotations on March 3 but was shown at 280 euros (about $ 295) per ton on February 24.         

GREECE – No quotes have been available in the last two weeks for medium and Indica varieties. Long grain paddy is quoted at 440 euros (about $ 463) per ton on both weeks.

ROMANIA - On March 3 Japonica paddy prices dipped lower to 359 euros (about $ 378) per ton,  from 395 euros (about $ 416) per ton on February 24. Indica paddy quotes softened to 306 euros (about $ 337) per ton on March 3 from 316 euros (about $ 322) per ton on February 24. As for milled rice, Japonica quotes advanced to 850 euros (about $ 896) per ton on March 3 from 719 euros (about $ 758) per ton on February 24. Indica milled quotes advanced to 738 euros (about $ 778) per ton on March 3, from 694 euros (about $ 731) per ton on February 24.   

BULGARIA - Japonica paddy quotations remained firm at 276 euros (about $ 291) per ton as of March 3. Japonica milled rice quotations were unchanged in the previous couple of weeks, at 814 euros (about $ 858) per ton.

FRANCE - Round milled rice was shown at 570 euros (about $ 601) per ton on March 3. Long A indications advanced to 650 euros (about $ 685) per ton as of March 3.  Long B was quoted at 550 euros (about $ 579) per ton on March 3. There were no quotations available for French milled rice on March 3.

Thu, 12 Mar 2015   View More
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Chicago rough rice futures for May delivery settled 5.5 cents per cwt (about $1 per ton) lower at $10.680 per cwt (about $235 per ton). After getting off to a strong start on what looked to be follow-through buying, after yesterday’s double digit rally, rough rice futures gave back their gains and ultimately slipped into negative territory by the end of the trading session. Today’s action is seen as bearish as the market tested points of overhead resistance at $10.750 and $10.800 per cwt (about $237 and $238 per ton), provided by the 20-day moving average and the upper boundary of the current trading range respectively, but was unable to maintain these levels in late session trading. The uptick in selling pressure late in the day seems to indicate that speculative shorts are moving to protect their position in an effort to dampen the momentum of yesterday’s rally. The other grains also closed lower for the most part, with wheat the only market managing to pull off a higher close as the market continues to attempt to recover from historically low prices; Soybeans closed about 0.2% lower at $9.9050 per bushel; wheat finished about 1.7% higher at $5.0725 per bushel, and corn finished the day about 0.6% lower at $3.8850 per bushel.

U.S. stocks traded higher on Thursday as mixed economic data indicated to some investors that the Federal Reserve will not raise interest rates as early as anticipated. The U.S. dollar fell about half a percent, pausing its recent rally. The euro edged higher to $1.06, up from 12-year lows hit on Wednesday. The Federal Reserve said on Thursday that household net worth rose by $1.5 trillion in the fourth quarter of 2014 to a record $83 trillion, with gains driven by real estate. U.S. business inventories were unchanged in January and further declines in sales pushed the number of months it would take to clear shelves to the highest since July 2009, which suggests a stock drawdown in the months ahead. Retail sales for February fell 0.6%, missing expectations of a slight gain. Retail sales excluding automobiles, gasoline, building materials and food services were unchanged after a 0.1% decline in January. Weekly jobless claims fell more than expected to 289,000, below the prior week\'s 320,000. The Dow Jones Industrial Average traded up 184 points, or 1.05%, at 17,820. The S&P 500 traded up 19 points, or 0.92%, at 2,059, with utilities leading gains as all sectors except energy advanced. The Nasdaq traded up 27 points, or 0.55%, at 4,877. Gold is trading about 0.1% higher, crude oil is seen trading about 1.4% lower, and the U.S. dollar is seen trading about 0.5% lower at about  1:00pm Chicago time.

Wednesday, there were 322 contracts traded, up from 245 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday decreased by 5 contracts to 8,961.

Thu, 12 Mar 2015   View More
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The U.S. cash market was unchanged today with little to no significant news to report that could move the market in one direction or the other.

Farmers are still holding out at these levels noting that most of the bids they are receiving are at or below their cost of production while buyers contend that they is no business to be had at the levels sellers hope to net.

In the meantime, the USDA reported that cumulative net export sales for the week ending on March 5th, totaled 82,500 tons, which was 19% higher than last week but 15% lower than the prior 4-week average.

Increases were reported for the following destinations including: 22,100 tons to Mexico, 20,500 tons to Haiti, 11,100 tons to Costa Rica, 7,100 tons to Colombia, and 4,600 tons to Guatemala.

U.S. rice exporters shipped 53,100 tons, which was 59% higher than last week and 24% higher than the prior 4-week average. The primary destinations included: 35,600 tons to Colombia, 4,300 tons to Saudi Arabia, 3,600 tons to Canada, 3,500 tons to Mexico, and 1,500 tons to Haiti.

Thu, 12 Mar 2015   View More
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Asia rice sellers kept their quotes mostly unchanged today.

5% Broken Rice

Thailand 5% rice is indicated at around $395 - $405 per ton, about a $30 per ton premium on Vietnam 5% rice  shown at around $365 - $375 per ton.

India 5% rice is quoted at around $390 - $400 per ton, about a $40 per ton premium on Pakistan 5% rice quoted at around $350 - $360 per ton.

25% Broken Rice 

Thailand 25% rice is shown at around $370 - $380 per ton, about a $30 per ton premium on Vietnam 25% rice shown at around $340- $350 per ton.                                                                                                                                                                                                  

India 25% rice is quoted at around $360 - $370, about a $45 per ton premium on Pakistan 25% rice quoted at around $315 - $325 per ton.

Parboiled Rice

Thailand parboiled rice is indicated at around $400 - $410 per ton.

India parboiled rice is quoted at around $380 - $390 per ton, about $15 per ton discount to Pakistan parboiled rice quoted at around $395 - $405 per ton.

100% Broken Rice

Thailand broken rice, A1 Super, is quoted at around $320 - $330per ton, about a $15 per ton premium on Vietnam 100% broken rice shown at around $305 - $315per ton.

India\'s 100% broken rice is shown at around $275 - $285 per ton,  about a $15 per ton discount to  Pakistan broken sortexed rice quoted at around $290 - $300 per ton.

Fri, 13 Mar 2015   View More
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Chicago rough rice futures for May delivery are currently listed 6.5 cents per cwt (about $1 per ton) higher at $10.700 per cwt (about $237 per ton) ahead of floor trading in Chicago. The other grains are seen trading mostly lower this morning: soybeans are currently seen about 0.7% lower, wheat is listed about 0.7% higher and corn is currently noted about 0.1% lower.

U.S. stock index futures indicated a slightly lower open on Friday as uncertainty over the timing of an interest rate rise lingers after a bumpy week. Stocks ended in the green on Thursday following a rough few days, as mixed economic data indicated to some investors that the Federal Reserve will not raise interest rates as early as anticipated. Friday looks set to be a quiet day on the earnings front, with retailers Ann and The Buckle among the companies due to report before the bell. The U.S. Producer Price index for February showed a decline of 0.5%, missing estimates of a 0.3% gain. Consumer sentiment data comes at 10 a.m. ET. Gold is currently trading about 0.5% higher, crude oil is seen trading about 1.8% lower,  and the U.S. dollar is currently trading about 0.2% higher at 8:00am Chicago time.

Fri, 13 Mar 2015   View More
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Chicago rough rice futures for May delivery settled 10 cents per cwt (about $2 per ton) lower at $10.580 per cwt (about $233 per ton). The other grains also closed lower; Soybeans closed about 1.7% lower at $9.7400 per bushel; wheat finished about 1% lower at $5.0200 per bushel, and corn finished the day about 2.1% lower at $3.8050 per bushel.

U.S. stocks traded 1% lower on Friday as investors eyed weak inflation data amid renewed dollar strength and sharply lower oil prices. The U.S. dollar rose more than half a percent to a new 52-week high, on track for its first close above 100 since April 2003. The euro extended losses to fall below $1.05. The Dow fell more than 250 points before recovering slightly as the major indices extended losses, with nearly all blue chips declining and all S&P 500 sectors in the red. The U.S. Producer Price index for February showed a decline of 0.5%, missing estimates of a 0.3% gain. Consumer sentiment data showed a preliminary read of 91.2 in March versus 95.4 in February. The Federal Open Market Committee meets next week, with all eyes on whether or not \"patient\" remains in the statement. Quarterly options also expire. The Dow Jones Industrial Average traded down 240 points, or 1.34%, at 17,654. The S&P 500 traded down 22 points, or 1.08%, at 2,043, with industrials leading all ten sectors lower. The Nasdaq traded down 46 points, or 0.94%, at 4,847. Gold is trading about 0.2% higher, crude oil is seen trading about 4.2% lower, and the U.S. dollar is seen trading about 0.9% higher at about  1:00pm Chicago time.

Thursday, there were 610 contracts traded, up from 322 contracts traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday increased by 18 contracts to 8,979.

Fri, 13 Mar 2015   View More
\"vietnam

Rice harvesting of the 2014-15 main crop (winter-spring) is currently going on in Vietnam and will continue until the end of July. Below average rains from mid-January to late February, delayed planting in main rice producing area, according to FAO. In the organization’s latest official estimates planting has been completed on about 2.39 million hectares as of mid - February, down about 8% from last year. However, FAO notes that overall prospects for current paddy crop is expected to remain favorable due to near average rainfall and adequate irrigation water supply for the remainder of the season.

Meanwhile, FAO says that Vietnam is expected to export about 6.9 million tons rice in 2015, up about 7% from last year. Vietnam exported about 515,000 tons of rice in first two months of 2015, down about 30% from same period last year, according to the General Statistic Office of Viet Nam (GSO).

For 2014, FAO estimates total paddy rice production in Vietnam is expected to reach a record level of 45 million tons in 2014, up about 2% from about 44.04 million tons produced in 2013, due to higher yields amid favorable weather conditions.

In Vietnam, wholesale prices of rice decreased in February due to ample existing supplies and new crop harvest. Meanwhile, the Vietnam\'s Government has approved the purchase of 1 million tons of rice from the winter-spring crop to support domestic prices. The procurement program began on 1 March, 2015 and will continue until 15 April, 2015.

Fri, 13 Mar 2015   View More
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Ever wondered what it was like to be a rice trader 400 years ago?  A new game on Kickstarter called Fujian Trader can show you (well, kind of).  Fujian Trader is a trading game based on an actual 17th century map used by an actual Chinese trading family.  The game appears to be similar to the popular Settlers of Catan but is historically factual.  Players work trade routes on the gameboard to move their “ships” from port to port, fighting for control of ports and negotiating trades along the way.  And rice is one of the resources players can trade!  The game mimics reality, where “ports” farther from the Chinese mainland see higher prices for rice than “ports” closer to the mainland.  It would be a good way to teach older children about history and trade at the same time.

If you’re interested in the game, a donation through Kickstarter can get you a printable game board – but you’ll have to wait until December to get your hands on the real thing, complete with carved wooden game pieces to maintain its historical accuracy.

So what are you waiting for?  Now you can trade rice for fun, not just for work!

Fri, 13 Mar 2015   View More
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Go ahead and eat all the rice you want, but please keep it away from any goats you have.  Recently, five goats distributed in India under the welfare scheme all died mysterious deaths.  Post-mortem autopsies showed the goats had eaten significant amounts of rice, a food staple that’s not typically part of a goat’s diet.  Animal Husbandry officials speculate the rice caused “abnormal secretion of gastric fluids” like acid which led to the animals’ sudden deaths.

However, veterinarians maintain that white rice can be a good food substitute for other pets, like cats and dogs, when they have upset stomachs.  Just don’t let your goats near it!

Fri, 13 Mar 2015   View More
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A new study by researchers in Finland shows that cholesterol-lowering statin drugs may significantly increase a person’s risk of developing type 2 diabetes – in fact, it may increase a person’s risk by as much as 50%!

What’s a person to do when faced with a choice between high cholesterol or increased risk of type 2 diabetes?

Rice to the rescue once again!  Red yeast rice has been a controversial product – especially in the West.  In fact, Switzerland doesn’t even allow its sale in the country.  However, it’s popularly used in Asia for a variety of health benefits, including lowering cholesterol and improving blood circulation.

On the back of a study showing that statins, which millions of people around the world (and especially in the West) take daily, can increase the risk of another chronic disease, perhaps scientists should consider investing research into red yeast rice so that we can finally reach a conclusion about its efficacy in treating cholesterol.  If it is found to be scientifically effective, it could prevent millions of people from developing type 2 diabetes every year.

Fri, 13 Mar 2015   View More
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Rice farmers in drought-stricken California might finally have something to look forward to: the Metropolitan Water District of Southern California has offered up to $71 million for farmers to ship their water to the Los Angeles area in southern California.  As much as 115,000 acre-feet of water, or more than 37 billion gallons, could be sold.

According to the Sacramento Bee, some farmers may actually make more cash from selling their water than they would from selling their rice!  Last year, when Sacramento Valley water districts shipped their water down south they were getting $500 an acre-foot.  This year prices are around $700 an acre-foot.  (An acre foot is 326,000 gallons and will supply roughly two Southern California households for about a year.)

So far, nine irrigation districts have made tentative deals with the Water District to ship some of their water.

This news might decrease rice acreage in California even further; in 2014 rice acres in California decreased by 140,000 acres due to drought, and about one-fourth of the crop didn’t get planted.  Most rice farmers in the Sacramento Valley region make around $1,000 to $1,500 an acre profit when they plant rice.  Idling an acre of rice would save about 3 acre-feet of water, or more than $2,100 at this year’s rates.  However, many growers take a long-term approach and recognize the importance of supporting the rice industry as a whole; most farmers will likely still grow some rice – the question is how much?

Fri, 13 Mar 2015   View More
\"oryza

The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes, ended the week at about $419 per ton, down about $3 per ton from a week ago, down about $1 per ton from a month ago and down about $35 per ton from a year ago.

The USDA forecasts all rice exports in MY 2014-15 to reach 4.72 million tons, up about 11% from last year.

Thailand

Thailand 5% broken rice is today shown at about $400 per ton, down about $5 per ton from a week and a month ago and down about $15 per ton from a year ago.

In January 2015, Thailand exported about 610,504 tons of rice, down about 59% from December 2014 and down about 12% from January 2014.

Thailand received bids for about 780,000 tons of rice on March 6.  The government had hoped to auction off one million tons.

Thailand and China have sorted out the details of a deal signed between the two countries in December.  Under this deal, China agreed to buy about 2 million tons of rice and 200,000 tons of rubber from Thailand.

India

India 5% broken rice is today shown at about $395 per ton, unchanged from a week ago, down about $5 per ton from a month ago and down about $30 per ton from a year ago.

The government has decided to sell excess rice stocks in the open market starting April 1.

The Federation of Indian Exports Organization (FIEO) and the Agricultural & Processed Food Products Export Development Authority (APEDA) expect Iran to resume basmati rice imports from India once the new financial year begins in April.

The Chief Minister of the South Indian state of Telangana is urging the government to reconsider its decision to end the levy rice procurement system starting from the 2015-16 (October-September) kharif marketing season.

Chinese plastic rice, made of potatoes, sweet potatoes, and Chinese polymer, is turning up in consumer rice products in India.  The plastic rice can cause gastritis and other digestive problems and is causing the Indian government to consider instituting a system to check imports of rice into the country.

The rice sector in Bangladesh is facing severe trouble amidst continuing political unrest and rising imports.

Vietnam

Vietnam 5% broken rice is today shown at about $370 per ton, down about $5 per ton from a week ago, up about $10 per ton from a month ago and down about $5 per ton from a year ago.

Vietnam exported about 421,202 tons of rice in the first two months of 2015, a decrease of about 34% from the first two months of 2014.  Average rice export price so far this year is about $452 per ton (FOB), up about 5% from the same time last year.

The Deputy Minister for Industry and Trade is optimistic that rice exports, which declined about 4% y/y to 6.4 million tons in 2014, will rebound in 2015 as a result of increased demand from China and lower export prices.

The Ministry of Agriculture and Rural Development of Vietnam plans to develop specialized large-scale rice growing areas in the Mekong River Delta region to cater to the growing needs of local and international market.

Pakistan

Pakistan 5% broken rice is today shown at about $355 per ton, up about $5 per ton from a week and a month ago and down about $50 per ton from a year ago.

Basmati rice prices have seen a reversal and increased sharply in February 2015 after declining consistently since September.  The increase is likely due to concerns over an anticipated reduction in 2014-15 production.

The Chairman of the Rice Exporters Association of Pakistan forecasts that Pakistan may miss the rice export target of 3.8 million tons in FY 2014-15 due to falling demand.

Central & South America

Brazil 5% broken rice is today shown at about $550 per ton, unchanged from a week ago, up about $10 per ton from a month ago and down about $115 per ton from a year ago.

Brazil’s National Grains Supply Company (Conab) estimates 2014-15 paddy rice production will be about 12.152 million tons, slightly up from 2013-14.

The Brazilian paddy rice index maintained by the Center for Advanced Studies on Applied Economics (CEPEA) reached around 36.02 real per 50 kilograms as of March 09, 2015, down about 0.3% from around 36.13 real per 50 kilograms recorded on March 02, 2015.  In terms of USD per ton, the index reached around $232 per ton on March 09, 2015, down about 8% from around $252 per ton recorded on March 2, 2015.

Five percent broken rice from Uruguay and Argentina is today shown at about $580 per ton, down about $20 per ton from a month ago and down about $45 per ton from a year ago.

In 2014, Argentina exported around 510,707 tons of rice, down about 5% from the same period in 2013, according to the Ministry of Agriculture.

The government of Guyana has secured a deal with Venezuela to export about 260,000 tons of paddy and rice in 2015, according to the Agriculture Minister.

U.S.

U.S. 4% broken rice is today shown at about $485 per ton, unchanged from a week and a month ago and down about $100 per ton from a year ago.

The ongoing drought in California is leading some experts to anticipate global medium-grain rice prices will stay firm for the near future.

After staying flat early in the week, Chicago rough rice futures for May delivery saw a spike in prices Wednesday, when they reached a high of $10.740 per cwt (about $237 per ton).  Futures then dropped slightly to finish the week at $10.615 per cwt (about $234 per ton).

The U.S. cash market for rough rice was quiet and mostly unchanged this week, despite a relatively bullish WASDE report that projected a 1 million cwt (45,359 tons) increase in U.S. long grain exports.

Other Markets

 Cambodia 5% broken rice is today shown at about $430 per ton, down about $5 per ton from a week and a month ago and down about $25 per ton from a year ago.

The UN’s Food and Agriculture Organization (FAO) estimates 2014-15 rice imports for Japan to reach around 700,000 tons.

The UN’s FAO estimates Indonesia’s rice imports will reach about 1.2 million tons in 2014-15 (April-March), due to a reduction in 2014 aggregate rice production.  Meanwhile, the Indonesian President has ruled out rice imports, despite continuing price hikes.

For the third consecutive month, rice stocks in the Philippines continue to decline, according to the Bureau of Statistics.  As of February 1, stocks were around 2.35 million tons, down about 12% from last month, but up about 17.5% from the same period last year. Meanwhile, the Philippines Chief Economist is urging the government to remove quantitative restrictions on rice imports in order to stabilize rice prices in the country. Separately, the National Food Authority Council of the Philippines has approved the government-to-government deals of Vietnam and Thailand, with Vietnam supplying about 300,000 tons of rice and Thailand supplying about 200,000 tons of rice by May 31.

South Korea’s state-run Agro Fisheries & Food Trade Corporation is looking to buy about 58,897 tons of non-glutinous rice in international tenders for delivery between June 30 and September 30, with bidding occurring on March 24.

About 631,058 tons of Italian paddy crop has been sold as of March 3.  This represents about 64.82% of total Italian 2014-15 (September-August) paddy crop, and is about 11% more sold than during the same period last year, according to the Ente Nazionale Risi.

China has sold about 15,268 tons or 1.2% of 1.4 million tons of late-harvest rice from reserves.

 

Sat, 14 Mar 2015   View More
SINGAPORE (Reuters) - Crude oil prices fell early on Monday after U.S. unions called a refinery strike and traders cashed in on strong price gains last week when the market soared more than 8 percent on a sharp drop in U.S. drilling.






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Mon, 02 Feb 2015   View More
TOKYO (Reuters) - Asian shares languished on Monday, after the latest gauge of China\'s factory sector activity raised concerns about the world\'s second-largest economy.






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Mon, 02 Feb 2015   View More

Chicago rough rice futures for Mar delivery settled 29 cents per cwt (about $6 per ton) lower at $10.570 per cwt (about $233 per ton). Rough rice futures fell off during afternoon trading, moving to a fresh multi-year low before recovering slightly by the ringing of the closing bell but remaining sharply lower on the day. Today’s market action adds to losses sustained earlier in the week and brings the total loss to 37.5 cents per cwt (about $8 per ton) as prices fell from their opening at $10.945 per cwt (about $241 per ton) on Monday to today’s closing level. The bearish outlook remains in place and expectations are for prices to test support at $10.500 per cwt (about $231 per ton) in early trading next week. The other grains also finished the day lower; Soybeans closed about 0.8% lower at $9.6100 per bushel; wheat finished about 1% lower at $5.0375 per bushel, and corn finished the day about 0.4% lower at $3.7000 per bushel.

U.S. stocks fell on Friday, readying equities for January losses, with investors on uncertain footing after U.S. economic growth slowed sharply in the fourth quarter and Russia\'s central bank unexpectedly cut is benchmark interest rate. Already deep under water, stock futures retained stiff losses after the Commerce Department reported gross domestic product expanded at a 2.6% annual rate after the third quarter\'s 5% jaw-dropping pace. Analysts had projected the economy would expand at a 3% rate in the final quarter of 2014. U.S. stocks furthered their fall after the Greek government said it would not seekan extension of the bailout program with the European Union and the International Monetary Fund. The Dow Jones Industrial Average fell as much as 128 points, and was lately down 67.88 points, or 0.4%, to 17,348.97. The S&P 500 declined 5.58 points, or 0.3%, at 2,015.67; consumer staples led losses and telecommunications gains among its 10 major sectors. The Nasdaq wavered between gains and declines, lately down a points at 4,682.40. Gold is trading about 1.7% higher, crude oil is seen trading about 3.9% higher, and the U.S. dollar is seen trading about 0.1% higher at about  1:00pm Chicago time.

Thursday, there were 2,630 contracts traded, up from 772 contracts traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday increased by 694 contracts to 9,748.

Fri, 30 Jan 2015   View More
\"oryza

The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes, ended the week at about $422 per ton, down about $3 per ton from a week ago, down about $9 per ton from a month ago and down about $42 per ton from a year ago.

With Thailand still holding around 17 million tons of rice, competition among exporting nations is likely to grow, unless there is some production shortfall that changes the supply scenario. Along with the usual suspects – Thailand, India, Vietnam, Pakistan, the U.S., and South America, Asian nations such as Cambodia, Myanmar, and South Korea are hoping to make further inroads on the export market. For destination markets, exporters are looking at China and Africa, setting a scene of potentially lower export quotes amid increasing competition.

Thailand

Thailand 5% broken rice is today shown at about $405 per ton, unchanged from a week ago, down about $5 per ton from a month ago, and down about $35 per ton from a year ago.

In 2014, Thailand exported about 10.97 million tons of rice, an increase of about 66% from 2013, according to the Thai Rice Exporters Association.

Thailand offered the lowest bid in Iraq’s Grain Board rice tender, offering a bid of $443.90 per ton (c&f basis).  The IGB purchased about 80,000 tons from Thailand at this price.

Thailand’s domestic auction to sell around one million tons of rice received an overwhelming response with nearly 100 bidders participating.

India

India 5% broken rice is today shown at about $400 per ton, unchanged from a week ago, up about $10 a month and down about $15 per ton from a year ago.

Basmati rice prices already declined by about 40% since last year to below $900 per ton, and are expected to decline further due to low export demand and increasing inventories.

Average wholesale rice prices, which have declined for two consecutive months due to increasing supplies from kharif crop harvests, have increased sharply in January 2015.  Local sources attribute the increase to concerns about reduced output from the ongoing Rabi crop.

It is expected that Fiji will sign a Memorandum of Understanding (MoU) with India seeking support for revamping its rice sector.

The Indian government has adequate agricultural seeds for the 2015 kharif season, according to the Ministry of Agriculture.

The new zinc-enriched and high-yielding paddy rice variety BRRI-Dhan-64, developed by the Bangladesh Rice Research Institute, is being popularized among farmers in the ongoing boro crop season (January-May).

In Bangladesh, blockades of highways, railways, and waterways, which began on January 5, are causing ongoing problems to rice farmers and consumers, with farmers getting lower prices while consumers pay higher prices.

Vietnam

Vietnam 5% broken rice is today shown at about $360 per ton, down about $10 per ton from a week ago, down about $25 per ton from a month ago and down about $45 per ton from a year ago.

Vietnam exported about 65,780 tons of rice during the period from January 1 to January 22, down about 79% from the full month of January 2014 and down about 86% from December 2014.

The Institute for Agricultural Environment (IAE) under the Ministry of Agriculture and Rural Development is promoting new and efficient rice farming techniques in efforts to reduce greenhouse gas emissions from wet rice production by 15%-20% by 2020.

Pakistan

Pakistan 5% broken rice is today shown at about $360 per ton, down about $5 per ton from a week ago. down about $25 per ton from a month ago and down about $35 per ton from a year ago.

In the first six months of FY 2041-15 (July-June), Pakistan has exported about 1.7 million tons of rice worth $914.37 million, according to the Rice Exporters Association of Pakistan.

The Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry urged the Pakistan government to consider more rice exports to China.

Central & South America

Brazil 5% broken rice is today shown at about $540 per ton, unchanged from a week ago, down about $10 per ton from  a month ago and down about $125 per ton from a year ago.

Brazil’s state agency, CONAB, announced that it will sell about 60,000 tons of Brazilian paddy rice from the previous crop, including 2008-2009 and 2010-2011 harvests, in four different auctions on January 29.

The Brazilian paddy rice index maintained by the Center for Advanced Studies on Applied Economics (CEPEA) reached around 38.42 real per 50 kilograms as of January 26, 2015, up about 0.05% from around 38.4 real per 50 kilograms recorded on January 20, 2015.  In terms of USD per ton, the index reached around $296 per ton on January 26, 2015, up about 1% from around $293 per ton recorded on January 20, 2015.

The USDA Post estimates that Argentina will export about 580,000 tons of milled rice in 2015, a decrease of about 3% from 2014 and down about 3% from official USDA estimates for 2015.

U.S.

U.S. 4% broken rice is today shown at about $500 per ton, unchanged from a week ago, down about $15 per ton from a month ago and down about $90 per ton from a year ago.

U.S. farmers and members of the Mississippi Congressional Delegation recently submitted a letter urging the Secretary of State to assist the U.S. rice farmers and exporters in enhancing rice exports to Iraq, which have been declining.

Chicago rough rice futures for March delivery hit a low of $10.705 per cwt ($236 per ton) on Wednesday, matching the cheapest price for futures since August 2010.  However, news that Thailand’s auction attracted record bids boosted futures after that, helping them gain the most in two weeks – they reached $11.370 per cwt (about $251 per ton) on Thursday.  They then continued to drop even lower, bottoming at $10.525 per cwt (about $232 per ton) before closing at $10.620 per cwt (about $234 per ton) on Friday, placing them back at 2010 levels.

The U.S. cash market was weaker this week, falling in tandem with the futures market.  There was little-to-no trading to report.

Taiwan has imported about 9,100 tons of rice from the U.S. under the first tranche of 2015 Country Specific Quota (CSQ) Simultaneous Buy and Sell (SBS) tender.

Japan is considering increasing its tariff-free rice import quota from the U.S. as part of the efforts to push forward the Trans-Pacific Partnership (TPP) negotiations that have been stalled due to an impasse between the U.S .and Japan over access to its farm markets, including rice.

Other Markets

Cambodia 5% broken rice is today shown at about $445 per ton, up about $5 per ton from a week ago, down about $20 per ton from a month ago and down about $10 per ton from year ago.  Separately, the Cambodian government is being urged to intervene in the rice and other agricultural commodities markets to stop prices from falling and ensure adequate returns to farmers.

The government of Myanmar plans to export about 2.5 million tons of rice in FY 2015-16 (April-March), up about 67% from FY 2014-15, according to the CEO of the Myanmar Rice Federation.

The National Food Authority (NFA) of the Philippines plans to import about 500,000 tons of rice for delivery by May 2015 in efforts to boost its stockpiles ahead of the lean season (June-August), according to Reuters.  Buffer stocks with the NFA are enough for 12-13 days, slightly below the required norm of 15 days. Meanwhile, the NFA has decided to retain the paddy procurement price of about P17 per kilogram (about $390 per ton) but will provide more incentives to encourage farmers to sell their paddy to the agency. Separately, the Philippines-based International Rice Research Institute (IRRI) plans to construct a new research facility to cater solely to studying the impacts of climate change on rice production.

Rice blast (Pyricularia Oryzae) has devastated paddy production in the region of Baixo Mondego, Portugal, where about 25% of total domestic rice production is concentrated, and rice farmers say about 30-70% of the 2014 crop has been lost.

Despite lower crude oil prices, rice farmers in Spain are complaining that the cost of fertilizers and herbicides for agriculture has been increasing over the last six months.

In 2014, Madagascar imported about 363,423 tons of rice, down about 11% from 2013.

According to the UN’s Food and Agricultural Organization forecast, Mali 2014 paddy rice production will be about 2.3 million tons (about 1.55 million tons, basis milled), up about 4% from 2013.

South Korea will lift existing restrictions on rice exports this year, and the Agriculture Ministry is seeking revisions to existing laws and clauses in order to allow the government to export rice.  The change is likely due to increased production in the country, while consumption continues to fall.

Senegal imported about 871,100 tons of rice in the first eleven months of 2014, up about 6% from the same period in 2013.

The Ministry of Trade and Industry in Ghana ruled out a total rice import ban, saying the decision would violate the WTO rules.

The UN’s FAO estimates Guinea’s 2015 rice imports at around 320,000 tons, an increase of about 7% from 2014.  The anticipated increase is due to shortfalls in 2014 production resulting from the Ebola Virus Disease outbreak.

The new government in Sri Lanka has announced its plans to intervene in the rice market in order to ensure price stability in the market, according to a news release by the Sri Lanka Broadcasting Corporation.

Ongoing political turmoil and consecutive payment problems are hindering rice purchases by a Libyan state grain buying agency through tenders, according to Reuters.

The Governor of the Central Bank of Nigeria stated that increasing imports of several products, including rice, are putting downward pressure on the country’s currency. More likely, falling crude prices have reduced foreign exchange available to fund imports such as rice.

The UN’s FAO estimates Sierra Leone’s 2015 milled rice imports will be around 215,000 tons, up slightly from 2014.

The USDA Post estimates Australia may export around 400,000 tons of rice in 2015, down about 3% from an estimated 446,000 tons in 2014, due to an expected decline in production.

The government in China plans to increase production of grains, including rice, and their reserves, in efforts to improve food security in the country.

Fri, 30 Jan 2015   View More

The U.S. cash market was considerably weaker today after it was announced that the Iraqi Grain Board overlooked U.S. origin once again.  However, this time they chose instead to award 80,000 tons to Thailand which was roughly $170 per ton less expensive than the most attractive U.S. offer.

Many market participants were disappointed by the IGB’s decision to pass on the U.S. due to the fact that insufficient export demand has driven prices lower although most conceded that in this instance their decision made sense, unlike the previous tender when they purchased more expensive South American paddy.

Fri, 30 Jan 2015   View More

Chicago rough rice futures for Mar delivery settled 12.5 cents per cwt (about $3 per ton) higher at $10.860 per cwt (about $239 per ton). The other grains finished the day with mixed results; Soybeans closed about 0.2% lower at $9.6825 per bushel; wheat finished about 0.5% higher at $5.0875 per bushel, and corn finished the day about 0.5% lower at $3.7150 per bushel.

U.S. stocks gained on Thursday, bouncing back from a a two-day rout, as investors mulled earnings from corporations including Ford Motor and data that had a less-than-expected number of Americans filing for unemployment benefits. Stock futures added to gains after the Labor Department reported jobless claims dropped by 43,000 to 265,000 last week, fewer than forecast and the lowest number in nearly 15 years. However, the week included the Martin Luther King holiday, increasing the volatility of the numbers. Stocks offered muted reaction to another report that had pending-home sales dropping 3.7% in December. After falling as much as 55 points and rising 147, the Dow Jones Industrial Average was lately up 128.47 points, or 0.7%, at 17,319.84. Reversing after a drop under 2,000, the S&P 500 added 7.33 points, or 0.4%, to 2,009.49, with utilities leading gains and energy the sole laggard among its 10 major sectors. The Nasdaq advanced 10.03 points, or 0.2%, to 4,647.96. Gold is trading about 2.4% lower, crude oil is seen trading about 1.4% lower, and the U.S. dollar is seen trading about 0.4% higher at about  1:30pm Chicago time.

Wednesday, there were 772 contracts traded, up from 412 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday increased by 6 contracts to 9,054.

Thu, 29 Jan 2015   View More
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The Cambodian government is being urged to intervene in the rice and other agricultural commodities markets to stop prices from falling and ensure adequate returns to farmers, according to local sources.

In a letter addressed to the Prime Minister, a group of opposition leaders noted that declining prices of rice, rubber and mung beans have been significantly impacting the lives of the farmers. They noted that the prices of these commodities are influenced by middlemen and traders from Vietnam and Thailand. They often collude with each other and lower prices, they said.

They added that farmers are having less bargaining power especially during harvest time and are therefore forced to sell their output at offered prices to repay loans taken for planting purposes.

The opposition leaders urged the Prime Minister and the government to come up with good intervention policies and financing options to protect farmers\' interests. They noted that  a good coordination between the concerned Ministries to develop policies in that direction. Particularly, investments in processing industry and rural banking sector.

The Spokesman for the Ministry of Commerce responded to the opposition leaders\' concerns saying that the Ministry has been doing its ground work to match the provincial agricultural facilities with international standards. However, it would take time for the results to be visible, he added.

USDA estimates Cambodia MY 2014-15 (January 2015 - December 2015) paddy rice production at around 7.656 million tons (around 4.9 million tons, milled basis), up about 4% from around 7.383 million tons (around 4.725 million tons, milled basis) in MY 2013-14. It estimates Cambodia to export around 1.2 million tons of rice in 2015 (including official exports and unofficial exports to Vietnam and Thailand), up about 20% from an estimated 1 million tons in 2014. 

Fri, 30 Jan 2015   View More
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India average wholesale rice prices, which have declined for two consecutive months of November and December 2014 due to increasing supplies from harvests of the kharif main rice crop (June - December), have reversed in January 2015, according to official sources. The increase in prices could be attributed to concerns of reduced output from the ongoing Rabi crop (November - March). The Indian government is yet to release the second advance estimated of 2014-15 (October – September) rice production, including from both kharif and rabi.

Average monthly wholesale rice prices in India increased to around Rs.2,836 per quintal in January 2015, up about 4% from around Rs.2,730 per quintal in December 2014, and up about 4% from their year-ago levels of around Rs.2,720 per quintal.

In terms of USD per ton, wholesale rice prices in India stand at around $461 per ton (using current exchange rates) in January 2015, up about 8% from around $426 per ton (using historical exchange rates) in December 2014, and up about 7% from around $432 per ton (using historical exchange rates) in January 2014.     

Average wholesale rice prices increased sharply between July and August 2014 due to delayed monsoons and fears of lower production in 2014-15 crop year (October 2014 - September 2015). The Indian government also lowered its estimates for 2014-15  kharif rice production to around 88.02 million tons, down about 4% from around 91.69 million tons produced during the same time in 2013-14, according to a statement from the Agriculture Ministry in September 2014.

USDA estimates India\'s 2014-15 (October - September) production at around 102  million tons, down about 4% from an estimated 106.54 million tons in 2013-14. It estimates India’s rice exports to decline about 16% y/y to around 8.7 million tons in 2015 from an estimated 10.3 million tons in 2014.

Fri, 30 Jan 2015   View More
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Blockades of highways, railways and waterways, which began on January 5, 2015, are reportedly continuing causing several problems to rice farmers as well as consumers, according to local sources. While farmers are getting low prices, consumers are having to pay much higher prices.

Farmers who have just completed harvesting of the 2014 Aman rice crop (May - December) are expressing concerns of receiving lower prices to their output due to the ongoing blockades.

For instance, movement of rice and other commodities from Rangpur to parts of the country have been suspended for a long time due to the blockades. While rice farmers from about eight districts of the Rangpur division harvested a good amount of paddy in this Aman season from about one million hectares of land, they are not able to transport their paddy to other markets where they can get better prices.

Middlemen and traders are reportedly taking advantage of situation and offering much lower prices to farmers. Farmers told local sources that prices have dropped from about Tk 710-730 per maund/40 kilograms (around $230-$236 per ton) before blockades to around Tk 640-650 per maund/40 kilograms (around $207-$210 per ton). Most of the farmers are worried if they could get enough money to fulfil their financial commitments and retain some funds for next season planting.

The situation is quite opposite in the wholesale and retail markets. Due to transportation problems, wholesale rice prices in of different varieties of rice increased by about Tk  25 - Tk 100 per 50 kilogram (around $6.4 - $25.7 per ton) in markets across the country. Currently, coarse rice variety is selling at around Tk 36-37 per kilogram ($460 - $480 per ton), fine rice is selling at around Tk 48-52 per kilogram ($620 - $670 per ton) and medium variety is selling at Tk 38-40 per kilogram (around $490 - $510 per ton). 

Fri, 30 Jan 2015   View More
LONDON (Reuters) - Stocks fell in Europe and Asia and the dollar strengthened on Thursday after the Federal Reserve took an upbeat view of the world\'s largest economy and signaled it was on track to raise interest rates this year.






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Thu, 29 Jan 2015   View More
LONDON (Reuters) - Brent crude oil futures held above $48 a barrel on Thursday as investor inflows offset data showing that U.S. crude stocks had hit a record high.






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Thu, 29 Jan 2015   View More
LONDON (Reuters) - Global banks expect to increase base salaries by less than 3 percent this year and most are not planning to overhaul their pay structure in the face of tougher European Union rules on bonuses, a survey reported on Thursday.
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The Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) urged the Pakistan government to consider more rice exports to China keeping in view of the good relations between the two countries, according to local sources.

He told local sources that there is a lot of demand for Pakistani rice in China and Pakistan is capable of exporting about 600,000 - 700,000 tons of rice to China. Pakistan exported around 353,675 tons of rice worth $128 million to China in FY 2013-14 (July - June). But considering the reputation of Pakistani rice in China, the FPCCI Official, Pakistan government can negotiate with the Chinese authorities to import an additional 200,000 tons of rice from Pakistan yearly. He noted that he is hopeful that China would honour their request due to a large domestic demand for rice.

China imported around 2.267 million tons of rice  in 2013, and around 2.244 million tons of rice in the first eleven months (January - November) of 2014, according to data from China Customs General Administration.

On the other hand, Pakistan exported around 3.16 million tons of rice FY 2013-14, down about 7% from around 3.4 million tons exported in 2012-13. The South Asian country exported around 1.84 million tons of rice (around 278,973 tons of basmati and around 1.56 million tons of non-basmati) in the first six months of FY 2014-15.

Thu, 29 Jan 2015   View More
 
 

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Pattabhi Agro Foods Pvt Ltd is engaged in Paddy purchases, processing, milling and grading of rice, and its bi-products. It Primarily concentrate on processing and trading of agri commodities. Each of this activity is being handled by us with up most care. We are one of the largest exporters of indian rice from South India.
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