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

 
 
TOKYO (Reuters) - Honda Motor Co on Friday restated its financial results for the business year ended March, to account for additional costs to cover an expanded recall of cars equipped with Takata Corp air bag parts.
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Fri, 26 Jun 2015   View More
BEIJING/SHANGHAI (Reuters) - China\'s No. 2 e-commerce firm JD.com Inc is launching a Chinese consumer credit data system as a joint venture with U.S. credit-scoring technology company ZestFinance, taking on a rival service linked to the larger Alibaba Group Holding Ltd .
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Fri, 26 Jun 2015   View More
LONDON (Reuters) - Global stocks fell on Friday as equity investors sought to cut exposure to risk after Greece and its creditors again failed to resolve their differences, paving the way for a last-ditch effort on Saturday to avert a default.







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Fri, 26 Jun 2015   View More
(Reuters) - Charter Communications Inc formally argued for regulatory approval for its Time Warner Cable Inc and Bright House Networks deals, saying consumers would benefit as Internet services would become cheaper and faster.
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Fri, 26 Jun 2015   View More
MADRID (Reuters) - Spanish infrastructure group Ferrovial and Australia\'s Macquarie have put up for sale their concession for the Chicago Skyway toll road in the U.S., a source with knowledge of the matter said on Friday.
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Fri, 26 Jun 2015   View More
NEW YORK (Reuters) - U.S. consumer sentiment jumped in June, according to a survey released on Friday.
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Fri, 26 Jun 2015   View More
CHICAGO (Reuters) - Pimco\'s chief executive officer said on Friday that improving flow trends showed the big bond firm is regaining client confidence after the departure of star manager Bill Gross last year led to billions of dollars of withdrawals.
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Fri, 26 Jun 2015   View More
ZURICH (Reuters) - Switzerland\'s private banks are close to ridding themselves of undeclared European accounts, a salutary process but one which has undermined efforts to grow their businesses.
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Fri, 26 Jun 2015   View More
BRUSSELS (Reuters) - FedEx has asked the European Union\'s competition regulator to approve its 4.4-billion-euro ($4.9 billion) bid for Dutch rival TNT Express , the U.S. package delivery service company.







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Fri, 26 Jun 2015   View More
CANNES (Reuters) - (This version of the story corrects figures on Publicis contract wins, paragraph 13)







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Fri, 26 Jun 2015   View More
NEW YORK (Reuters) - Crude futures ended little changed on Friday after signs Greece might have a deal by the weekend to avoid a debt default, while Iran faced continued difficulty in securing an nuclear agreement to end sanctions on its oil exports.







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Fri, 26 Jun 2015   View More
WILMINGTON, Del. (Reuters) - Molycorp Inc failed to get approval from a U.S. Bankruptcy judge on Friday to borrow about $44 million at the rare earth producer\'s first bankruptcy hearing.







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Fri, 26 Jun 2015   View More
NEW YORK (Reuters) - The S&P 500 closed flat on Friday but ended lower for the week, with investors cautious ahead of a meeting in Europe that could decide whether Greece will default on critical loans.
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Fri, 26 Jun 2015   View More
TORONTO/NEW YORK (Reuters) - Canada\'s Element Financial is close to buying a large chunk of General Electric Co\'s vehicle fleet-management business in a deal that could be sealed as early as the end of June, three sources familiar with the matter said on Friday.







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Fri, 26 Jun 2015   View More
FRANKFURT (Reuters) - Deutsche Bank\'s co-chief executive Anshu Jain may have \"knowingly made inaccurate statements\" to Germany\'s Bundesbank during investigations into manipulation of the inter-bank rate setting process, the Financial Times reported online, citing a confidential report from German regulator BaFin.
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Fri, 26 Jun 2015   View More
NEW YORK (Reuters) - Nestle SA thinks it can turn around its U.S. frozen foods business despite recent sales declines driven by consumer perceptions that the products are not healthy, the company\'s U.S. chief executive said in an interview.
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Fri, 26 Jun 2015   View More
BRUSSELS/ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras summoned an urgent meeting of his cabinet on Friday after euro zone partners warned Athens it had until the weekend to accept a cash-for-reform deal or plunge toward default.







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Fri, 26 Jun 2015   View More
BRUSSELS (Reuters) - General Electric will seek to convince doubtful EU antitrust regulators of the merits of its 12.4 billion euro (US$13.9 billion) bid for Alstom\'s power unit at a hearing, the U.S. conglomerate said on Saturday.
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Sat, 27 Jun 2015   View More
NEW YORK (Reuters) - The S&P 500 closed flat on Friday but ended lower for the week, with investors cautious ahead of a meeting in Europe that could decide whether Greece will default on critical loans.







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Sat, 27 Jun 2015   View More
ATHENS/BRUSSELS (Reuters) - Greek Prime Minister Alexis Tsipras called a referendum on austerity demands from foreign creditors on Saturday, rejecting an \"ultimatum\" from lenders and putting a deal that could determine Greece\'s future in Europe to a risky popular vote.







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Sat, 27 Jun 2015   View More
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The U.S. cash market was mostly unchanged today after yesterday’s considerable jump that was seen in the futures market as well as in the cash market.

Analysts note that increases in export sales were helpful in supporting today’s prices however they insist we will need to see more numbers like today’s if this price increase can be sustainable.

Today the USDA reported that cumulative net export sales for the week ending on June 18, totaled 131,300 tons, which was considerably higher than last week and the prior 4-week average.

Increases were reported for the following destinations including: 64,300 tons to unknown destinations, 20,300 tons to Haiti, 17,500 tons to Mexico, and 8,500 tons to Jordan. Net sales of 3,000 tons for 2015/2016 were reported for unknown destinations.

U.S. rice exporters shipped 68,100 tons, which was 27% higher than last week but 2% lower than the prior 4-week average. The primary destinations included:  12,000 tons to Japan, 11,300 tons to Mexico, 10,300 tons to Haiti, 10,200 tons to Panama, and 10,000 tons to Colombia.

Thu, 25 Jun 2015   View More
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Indian basmati rice exporters are foreseeing a bleak year ahead as export deal with Iran, India\'s biggest basmati buyer, getting delayed as well as low international rice prices, according to local sources.

The Agricultural and Processed Food Products Export Development Authority (APEDA) data shows that India\'s basmati rice exports have declined marginally to around 3.7 million tons in FY 2014-15 (April - March) from around 3.76 million tons exported during the same period in FY 2013-14. The decline is largely attributed to fall in basmati rice shipments to Iran.

Iran, which accounts for more than a third of India\'s basmati rice exports temporarily banned rice imports in November 2014 citing excess stocks. India’s basmati rice exports to the Middle East nation in FY 2014-15declined about 35% to around 935,568 tons from around 1.44 million tons last year, according to APEDA.

So far, there is no clue about the resumption of rice imports by Iran. Visit by a delegation from the Commerce Ministry did not yield any positive results. 

“The government of Iran takes a rice import decision based on the current paddy crop. Since September is the normal harvesting season, any decision on bilateral rice import will be taken only around that time. Normally, they reduce customs duty on import from the Most Favoured Nation. So, we will have to wait a couple of months for any purchase agreement to get signed with India,” the Director General of Federation of Indian Export Organizations (FIEO) was quoted as saying. He noted that demand for basmati also declined this year due to emergence of some competitors as well as some buyers using last year\'s stocks without ordering for new stocks.

Demand from other countries such as Saudi Arabia and the European markets supported India\'s basmati rice sales this year. Saudi Arabia remained largest buyer of India\'s basmati rice in 2014-15 with 966,931 tons, up about 17% from 2013-14. 

Global prices of rice have declined significantly and basmati rice prices are currently ruling near $1,000 per ton from around $1,400 - $1,500 per ton during the same time last year. The All India Rice Exporters Association (AIREA) President noted that basmati rice exporters had witnessed a loss of about 30% in 2014-15 due to increased production costs as well fall in prices. He noted that considering total production, procurement, storage and export costs of basmati rice, a sale price of about $1,800 per ton would help exporters breakeven, he says. But prices are currently much lower than this figure, leading to concerns that exporters may face losses for a second consecutive year.

He urged the government to protect the interest of India\'s basmati exporters through some form of export subsidy.

Fri, 26 Jun 2015   View More
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Chicago rough rice futures for September delivery are currently seen trading 4.5 cent per cwt (about $1 per ton) higher at $10.370 per cwt (about $229 per ton) during early floor trading in Chicago. The other grains are seen trading higher this morning; soybeans are currently seen trading about 0.8% higher, wheat is listed about 3.2% higher and corn is currently noted about 1.1% higher.

U.S. stocks traded mostly higher on Friday as investors attempted to find optimism on the latest Greece headlines. Despite some positive headlines on Friday, the cash-strapped nation failed to reach a resolution with its creditors during several meetings this week. Leaders are scheduled to meet Saturday for another attempt to reach a deal ahead of the imminent June 30 repayment deadline. In the United States, the only economic data due is the Michigan Consumer Sentiment at 10:00 a.m. ET. European stocks traded mostly higher amid hopes that Greece was closer to a deal with its creditors. Chinese stocks plunged on Friday, with the Shanghai Composite tumbling more than 7%, its biggest one-day loss in five months. Stocks closed lower on Thursday as another meeting between Greece and its creditors failed to reach a deal. Health care stocks rallied on the U.S. Supreme Court\'s decision upholding federal subsidies for health plans under the Affordable Care Act. Gold is currently trading about 0.2% lower, crude oil is seen trading about 1.2% lower,  and the U.S. dollar is currently trading about 0.2% higher at 9:00am Chicago time.

Fri, 26 Jun 2015   View More
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Pakistan rice sellers lowered their quotes for 25% broken rice by about  a $5 per ton to about $335-$345 per ton today. Other Asia rice sellers kept their quotes mostly unchanged today.                                                                                                                       

5% Broken Rice

Thailand 5% rice is indicated at around $365 - $375 per ton, about a $20 per ton premium on Vietnam 5% rice  shown at around $345 - $355 per ton.

India 5% rice is indicated at around $385 - $395 per ton, about $10 per ton premium on Pakistan 5% rice shown at around $375 - $385 per ton.

25% Broken Rice

Thailand 25% rice is shown at around $345 - $3505 per ton, about a $20 per ton premium on Vietnam 25% rice shown at around $325- $335 per ton.

India 25% rice is indicated at around $350 - $360, about $15 per ton premium on Pakistan 25% rice shown at around $335 - $345per ton, down about $5 per ton from yesterday.

Parboiled Rice

Thailand parboiled rice is indicated at around $365 - $375 per ton.

India parboiled rice is indicated at around $365 - $375 per ton, about a $30 per ton discount to Pakistan parboiled rice shown at around $395 - $405 per ton.              

100% Broken Rice

Thailand broken rice, A1 Super, is indicated at around $315 - $325 per ton, about $5 per ton premium on Vietnam 100% broken rice shown at around $310 - $320 per ton.

India\'s 100% broken rice is shown at around $280 - $290 per ton, about a $15 per ton discount to  Pakistan broken sortexed rice shown at around $295 - $305per ton.

 

Fri, 26 Jun 2015   View More
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The Philippines Department of Agriculture (DA) has advised farmers to begin rice planting for the 2015 main crop in order to take advantage of the current intermittent rains in the country, according to a news release on the government website.

“If you start planting now, by July, when it is expected to rain the most, your rice crops would have passed its flowering stage, thus there is a better chance that harvests will be maximized,” The Agriculture Secretary was quoted as saying during a media interaction.

He noted that farmers in the rain fed areas can be benefited from the intermittent rains but cautioned them that the current rains may not signify the end of El Nino weather pattern.

The Agri Secretary said the dry spell is expected to start weak in July this year and grow moderate by August, persist till December and again start weakening until early 2016. He said the government is taking measures to help farmers adapt to climate changes and to minimize the impact of adverse weather conditions on their output.

“We are ready to schedule cloud seeding operations in case there is a need to induce rains during long dry seasons,” he was quoted. He assured that the Agriculture Department will install water pumps and solar water pumps in some regions which need an increase in water supplies.

Weather agencies have been warning of a dry weather condition due to El Nino from July this year. In the second week of June, the Philippines Statistics Authority (PSA) estimated Philippines\'s 2015 second quarter (April - June) production to decline by about 4.3% to around 3.898 million tons from last year\'s 4.073 million tons due to a decline in harvest area prompted by dry spell and insufficient water supply as well as incidence of pests and diseases in some rice growing areas.

Fri, 26 Jun 2015   View More
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A U.K.-based camping and outdoor equipment manufacturer is planning to launch a new range of eco-friendly tableware and kitchenware made with rice husk, according to a U.K. magazine.

The range of products will include mugs, tumblers, plates cutlery, bowls, set of round or rectangular storage containers as well as other kitchen accessories. Items can be purchased as a set or individually.

The rice husk ware is made of discarded rice husk and are extremely eco-friendly and biodegradable as well as be safely be used in microwave also. The material looks like plastic but uses up to 70% less CO2 to make than conventional plastic. The products are certified by the German Institute of Standardization (DIN).

The company is planning to release the rice husk ware in September 2015. The price would be in the range of £2.99 (around $3.15) for a tumbler, £34.99 (around $55) for a set of storage boxes and £58.99 (around $93) for a complete set.

Tags: 
Fri, 26 Jun 2015   View More
\"Thai

Thailand\'s Ministry of Agriculture and Cooperatives is planning to improve the output and quality of Thai sticky rice, according to local sources.

The Deputy Minister for Agriculture and Cooperatives told local sources that there is a need to overhaul the Thai sticky rice sector as it is plagued with inefficient production systems and farmers lack requisite technological knowledge and support.

He noted that the government has assigned the Rice Department to introduce new technology to farmers under its Smart Farmer campaign in order to reduce their production costs and reduce dependency on chemical fertilizers.

The Minister added that the campaign will be initiated in the provinces of Chiang Rai, Chiang Mai, Udon Thani and Khon Kaen during the rice farming season, then in 15 other provinces during the off-season farming period.

Fri, 26 Jun 2015   View More
\"rice\"

Bangladesh rice science researcher Dr.Md.Nazmul Haque has developed 850 new high-yielding rice varieties with a new method called \"Transgressive Sagreegant Breeding\" (TSB), according to local sources.TSB produces rice varieties that are superior in characters to the parent plants.

The researcher used a local rice variety called \'Dola Aman Dhan\' to create several hybrid varieties with various indica rice varieties that have life span of about 105-145 days and are suitable to grow in adverse climate and yield about 33-40 maund per bigha (around 8.25 - 10 tons per hectare).

The new varieties consist of longer stem and biomass that give the rice plants additional strength during storms and strong winds. These varieties can be cultivated both at high and low lands and are suited to grow in areas with low temperature, saline soil, and water logged conditions throughout the year in Aus, Aman and Boro seasons. Also these varieties require less fertilizer and are highly pest and disease resistant.

He also told that the new varieties contain high zinc and iron content than the traditional varieties. Zinc content can be increased up to 46.38 parts per million (ppm) in these varieties, while the highest content so far in Bangladesh in only 22 ppm (in BRRI Dhan 64).

The Dr.Haque has tried these varieties with some farmers in his district Bogra and obtained good results but the research needs to be promoted at the larger scale and rechecked before extension of the newly developed rice varieties, said the Deputy Director of the Department of Agriculture Extension (DAE), Bogra.

The DAE Extension in Bogra found some promising rice lines which are suitable to release across the country.

Dr.Haque urged the government to include the rice varieties to the national resource after patenting by genome sequencing. He expressed confidence that the research would help to promote future rice research in the country.

Fri, 26 Jun 2015   View More
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Indian basmati rice exporters are foreseeing a bleak year ahead as export deal with Iran, India\'s biggest basmati buyer, getting delayed as well as low international rice prices, according to local sources.

The Agricultural and Processed Food Products Export Development Authority (APEDA) data shows that India\'s basmati rice exports have declined marginally to around 3.7 million tons in FY 2014-15 (April - March) from around 3.76 million tons exported during the same period in FY 2013-14. The decline is largely attributed to fall in basmati rice shipments to Iran.

Iran, which accounts for more than a third of India\'s basmati rice exports temporarily banned rice imports in November 2014 citing excess stocks. India’s basmati rice exports to the Middle East nation in FY 2014-15declined about 35% to around 935,568 tons from around 1.44 million tons last year, according to APEDA.

So far, there is no clue about the resumption of rice imports by Iran. Visit by a delegation from the Commerce Ministry did not yield any positive results.

“The government of Iran takes a rice import decision based on the current paddy crop. Since September is the normal harvesting season, any decision on bilateral rice import will be taken only around that time. Normally, they reduce customs duty on import from the Most Favoured Nation. So, we will have to wait a couple of months for any purchase agreement to get signed with India,” the Director General of Federation of Indian Export Organizations (FIEO) was quoted as saying.

He noted that demand for basmati also declined this year due to emergence of some competitors as well as some buyers using last year\'s stocks without ordering for new stocks.

Demand from other countries such as Saudi Arabia and the European markets supported India\'s basmati rice sales this year. Saudi Arabia remained largest buyer of India\'s basmati rice in 2014-15 with 966,931 tons, up about 17% from 2013-14. However, there are also few countries such as the U.S. have lowered their basmati purchases in 2014-15 by about 22% y/y to around 80,540 tons.

Global prices of rice have declined significantly and basmati rice prices are currently ruling near $1,000 per ton from around $1,400 - $1,500 per ton during the same time last year.

The All India Rice Exporters Association (AIREA) President noted that basmati rice exporters had witnessed a loss of about 30% in 2014-15 due to increased production costs as well fall in prices. He noted that considering total production, procurement, storage and export costs of basmati rice, a sale price of about $1,800 per ton would help exporters breakeven, he says. But prices are currently much lower than this figure, leading to concerns that exporters may face losses for a second consecutive year.

He urged the government to protect the interest of India\'s basmati exporters through some form of export subsidy.

 

Fri, 26 Jun 2015   View More
\"rice

The Philippines Department of Agriculture (DA) has advised farmers to begin rice planting for the 2015 main crop in order to take advantage of the current intermittent rains in the country, according to a news release on the government website.

“If you start planting now, by July, when it is expected to rain the most, your rice crops would have passed its flowering stage, thus there is a better chance that harvests will be maximized,” The Agriculture Secretary was quoted as saying during a media interaction.

He noted that farmers in the rain fed areas can be benefitted from the intermittent rains but cautioned them that the current rains may not signify the end of El Nino weather pattern.

The Agri Secretary said the dry spell is expected to start weak in July this year and grow moderate by August, persist till December and again start weakening until early 2016. He said the government is taking measures to help farmers adapt to climate changes and to minimize the impact of adverse weather conditions on their output.

“We are ready to schedule cloud seeding operations in case there is a need to induce rains during long dry seasons,” he was quoted. He assured that the Agriculture Department will install water pumps and solar water pumps in some regions which need an increase in water supplies.

Weather agencies have been warning of a dry weather condition due to El Nino from July this year. In the second week of June, the Philippines Statistics Authority (PSA) estimated Philippines\'s 2015 second quarter (April - June) production to decline by about 4.3% to around 3.898 million tons from last year\'s 4.073 million tons due to a decline in harvest area prompted by dry spell and insufficient water supply as well as incidence of pests and diseases in some rice growing areas.

Fri, 26 Jun 2015   View More
\"\"

Vietnam has exported around 641,000 Tons of rice in June 2015, up about 13% from last month and about 18% from last year. Vietnam\'s rice exports in the first six months of this year declined about 6.2% y/y to around 3.06 million tons, Bloomberg quoted data from the Ministry of Agriculture and Rural Development.

Meanwhile, the paddy output from Vietnam\'s 2015 winter-spring crop has declined slightly by about 0.7% to around 20.7 million tons from around 22.25 million tons last year due to lower yields, according to Reuters.

Paddy output in the Mekong River Delta (MRD) accounted for around 13.48 million tons, while the northern region accounted for around 7.22 million tons. Most of the rice produced in MRD is exported.

Fri, 26 Jun 2015   View More
\"India

The pace of India\'s 2015-16 Kharif (main) rice crop (June - December) which began on May 8, has been pretty good in the week June 19 – 26 due to above-average rainfall in most of the rice growing areas.

However, as of June 26, the total area planted at around 2.328 million hectares is below last year\'s level of around 2.5 million hectares, according to preliminary data released by the Indian Agriculture Ministry.

According to the Indian Meteorological Department, India received 28% above normal rainfall since June 1, providing required support to the kharif rice and other crop plantings.

A likely drought-inducing El Nino this year is expected to lower production prospects this year. In its second forecast for 2015, the India Meteorological Department (IMD) has its estimate for this year\'s monsoon rains to 88% of normal, from a previous estimate of 93% due to reports of a strengthening El Nino. It is expecting rainfall to be 85% of the normal in the states of Haryana, Punjab, Rajasthan and Uttar Pradesh. The IMD expects the El Nino pattern to reach to moderate to a strong one during the monsoon season (June – September).

The government of India, in its third advance estimates for major crops, has estimated India\'s rice production for 2014-15 marketing year (October 2014 - September 2015) at around 102.54 million tons, down about 4% from an estimated 106.65 million tons in 2013-14, according to a statement from the agriculture Ministry.

The total Kharif crop sown area stands at 16.6 million hectares as on June 26, 2015, up about 24% from around 13.4 million hectares during the same period last year, according to the Agriculture Ministry.

Fri, 26 Jun 2015   View More
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Chicago rough rice futures for Sep delivery settled 8 cent per cwt (about $2 per ton) lower at $10.245 per cwt (about $226 per ton). The other grains continued their rally today, led by huge gains in wheat; Soybeans closed about 0.2% higher at $10.0200 per bushel; wheat finished about 5.7% higher at $5.6225 per bushel, and corn finished the day about 2.3% higher at $3.8500 per bushel.

U.S. stocks traded mixed on Friday as investors digested earnings and the latest headlines on the Greece debt crisis. The major indices are on track for their first weekly loss in three. Greek Prime Minister Alexis Tsipras called an urgent cabinet meeting on Friday evening to discuss a bailout deal, a government minister told Reuters. The country\'s finance minister Yanis Varoufakis said in a Reuters report that Saturday\'s meeting with the euro group of finance leaders will try to converge on a deal that includes debt and funding. He added that Greece has made concessions and that Athens rejects a 5-month funding proposal from lenders. Earlier, European Commission President Jean-Claude Juncker said in a Reuters report he was \"quite optimistic but not over-optimistic\" of a deal with Greece on a cash-for-reform deal at a crucial meeting of euro zone finance ministers on Saturday. European stocks edged out a mostly higher close amid hopes of resolution on Greece. Chinese stocks plunged on Friday, with the Shanghai Composite tumbling more than 7%, its biggest one-day loss in five months. The only U.S. economic data out Friday was the Michigan Consumer Sentiment, which posted a final read of 96.1 for June. On Friday, the Dow Jones industrial average gained 47 points, or 0.26%, at 17,936. The S&P 500 traded 2 points lower, or 0.10%, at 2,100, with utilities leading five sectors higher and information technology the greatest decliner. The Nasdaq fell 35 points, or 0.70%, at 5,076. Gold is trading about 0.1% lower, crude oil is seen trading about 0.2% lower, and the U.S. dollar is seen trading at about 0.3% higher at about  1:00pm Chicago time.

Thursday, there were 1,703 contracts traded, down from 1,738 contracts traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday increased by 117 contracts to 9,933.

Fri, 26 Jun 2015   View More
\"\"

Breeding ducks in rice farms has proved useful in increasing productivity, reducing pests and diseases and reducing fertilizers in countries such as Japan and China. Rice-Duck farming, as it is called, is based on the symbiotic relationship between paddy fields and ducks.

As ducks eat weeds, insects and other pests and their droppings serve as organic fertilizers and their swimming oxygenates the water and mixes the soil without hurting the rice plants. Pesticides and insects such as mosquito and drosophila are consumed by ducks easily.

Taking a cue from the countries, which are successfully using this method, rice farmers in Nepal began an integrated rice-duck farming and showed a significant increase in rice productivity and farmers\' net income. Also farmers who have adopted this method in Nepal have stopped the use of chemical fertilizers and avoided expenses on pests. On the contrary, neighboring farmers cultivating by traditional method had used three times of fertilizers.

It is an appropriate technology to address the food insecurity and climate change as well.

Fri, 26 Jun 2015   View More
\"oryza

The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes, ended the week at about $404 per ton, down about $6 per ton from a week ago, down about $3 per ton from a month ago and down about $57 per ton from a year ago.

Thailand

Thailand 5% broken rice is today shown at about $370 per ton, up about $5 per ton from a week ago, down about $5 per ton from a month ago and down about $15 per ton from a year ago.

Thailand exported around 945,597 tons of rice in May 2015, up about 7% from around 883,736 tons in May 2014, according to Bloomberg.

The government of Thailand has requested farmers in the Central region to further delay rice planting till August, when it expects rains to resume, from the earlier set July as 22 of the 76 provinces are still fighting drought conditions.

The government has not agreed to honor the farmers\' demands to pay a compensation of about 1,000 baht per rai (around $185 per hectare) to suspend rice planting. But the Agriculture Minister said he would propose a package of measures to assist farmers in the economic cabinet meeting next week.

The Commerce Ministry plans to auction about 1.395 million tons of rice on July 7.

The drought in Thailand and subsequent anticipated reduction in paddy output from the 2015 main rice crop will not affect shipments to Malaysia, according to the Agriculture and Agro-based Industry Deputy Minister.

Thailand\'s Ministry of Agriculture and Cooperatives is planning to improve the output and quality of Thai sticky rice as it is plagued with inefficient production systems and farmers lack requisite technological knowledge and support.

India

India 5% broken rice is today shown at about $390 per ton, up about $20 per ton from a week ago, up about $15 per ton from month ago, and down about $45 per ton from a year ago.

The pace of India\'s 2015-16 Kharif (main) rice crop (June - December) which began on May 8, reached around 2.328 million hectares as of June 26,below last year\'s level of around 2.5 million hectares, according to preliminary data released by the Indian Agriculture Ministry.

El Nino and the Indian Ocean Dipole are being watched closely but so far there has been no adverse affect on production expectations. Separately, an Indian grains analyst has warned that India’s absence in global rice trade could lead to extreme volatility and exorbitant prices.

A new study finds that Indian paddy yields are becoming resilient to droughts.

The state purchasing agency in Mauritius has purchased 6,000 tons of long-grain white rice from India in a tender that closed June 3.

The government is considering increasing production of oilseeds and pulses in some states that are covered under the Bringing Green Revolution to Eastern India scheme, with hopes it will reduce dependence on imports.

Vietnam

Vietnam 5% broken rice is today shown at about $350 per ton, unchanged from a week, down $5 from a month ago and down about $60 per ton from a year ago.

Vietnam has exported around 641,000 Tons of rice in June 2015, up about 13% from last month and about 18% from last year. Vietnam\'s rice export in the first six months of this year declined about 6.2% y/y to around 3.06 million tons, Bloomberg quoted data from the Ministry of Agriculture and Rural Development.

The paddy output from Vietnam\'s 2015 winter-spring crop has declined slightly by about 0.7% to around 20.7 million tons from around 22.25 million tons last year due to lower yields, according to Reuters.

Agricultural experts in the country have noted that various rice farming technologies are outdated and urged the government to facilitate restructuring of the rice industry and total agricultural mechanization in the country.

Pakistan

Pakistan 5% broken rice is today shown at about $380 per ton, unchanged from a week ago, down about $30 per ton from a month ago and down about $65 per ton from a year ago.

Members of the Rice Exporters Association of Pakistan are seeking a special package from the government to help alleviate the problems of rice growers and exporters.

The President of the Union of Small and Medium Enterprises (UNISAME) has suggested that the government should consider the pros and cons of setting up a Rice Board, especially how it would impact the rice industry and its stakeholders, according to a statement by the group. He also noted that the government should know the intentions of the stakeholders who are demanding such as Board.

Central & South America

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

The Brazilian paddy rice index maintained by CEPEA reached around 33.69 real per 50 kilograms as of June 22, 2015, down about 0.06% from around 33.71 real per 50 kilograms recorded on June 15, 2015. In terms of USD per ton, the index reached around $219 per ton on June 22, 2015, up about 1% from around $217 per ton recorded on June 15, 2015.

Five percent broken rice from Uruguay and Argentina is today shown at about $565 per ton, unchanged from a week and a month ago, and down about $10 per ton from a year ago.

U.S.

The U.S. 4% broken rice is today shown at about $455 per ton, unchanged from a week ago, down about $15 per ton from a  month ago and down about $120 per ton from a year ago.

Other Markets

The government of Indonesia is looking to redesign its rice-for-the-poor program after finding irregularities in the implementation of the program.

Cambodia, which offered a relatively higher bid in the recent Filipino tender, is working to offer a more competitive bid in the next Filipino rice tender.

Rice farmers associations in Nigeria have requested the Federal government to relax rules related to accessing credit in order to boost rice production and ensure food security in the country.

The National Food Authority of the Philippines will meet in the first week of July to discuss supply and the import of an additional 250,000 tons.

The Philippines weather agency anticipates the onset of the rainy season within the next few days. The Philippines Department of Agriculture (DA) has advised farmers to begin rice planting for the 2015 main crop in order to take advantage of the current intermittent rains in the country

The Philippines Rice Research Institute, along with the Department of Agriculture and the International Rice Research Institute, are developing rice varieties that can withstand adverse weather conditions and are resistant to pests and diseases.  The Philippines hopes to achieve rice sufficiency with NextGen varieties.

The EU farm Ministers Council has reached an understanding over the EU organic legislation.

Basmati rice imports by EU nations declined to around 223,549 tons during the period of September 1-June 18, a decrease of about 27% from the same period last year.

The government of Liberia needs to empower rice farmers to increase production, according to the Chairperson of the House of Representatives Committee on Agriculture, Forestry, and Fisheries.

Bangladesh rice farmers are looking forward to using new saline-tolerant rice varieties, as salinity in recent years has left some rice acreage to lie fallow.

Bangladesh rice science researcher Dr.Md.Nazmul Haque has developed 850 new high-yielding rice varieties with a new method called \"Transgressive Sagreegant Breeding\" (TSB), according to local sources.TSB produces rice varieties that are superior in characters to the parent plants.

The researcher used a local rice variety called \'Dola Aman Dhan\' to create several hybrid varieties with various indica rice varieties that have life span of about 105-145 days and are suitable to grow in adverse climate and yield about 33-40 maund per bigha (around 8.25 - 10 tons per hectare).

Myanmar currently exports milled rice to the EU at zero percent duty under the Everything But Arms agreement, but Myanmar exporters are struggling to meet European rice standards.

The chairman of the Rice Council of Tanzania has urged the government to settle the rice export issue with the East African Community, as Kenya and Uganda have banned rice imports from Tanzania due to its rice shipments being mixed up with low quality Indian and Pakistani rice.

The government of Togo has distributed 300 tons of improved rice seeds to farmers in efforts to increase rice production in the country.

The Central Bank of Nigeria has stopped the sale of U.S. dollars to importers of 40 items, including rice, as part of its efforts to protect foreign reserves, which have declined significantly, and to reduce pressure on the naira.

The Country Program Manager of Eastern Africa Grain Council has warned that Rwanda and Uganda have decided to levy a 75% tax on Tanzania rice imports mixed with cheap Asian rice.

South Korea’s state-run Agro Fisheries & Food Trade Corporation is looking to buy about 59,104 tons of non-glutinous rice in international tenders for delivery between October 15 and December 15.

Sat, 27 Jun 2015   View More
(Reuters) - Takata Corp said on Monday that it will continue producing air bags that use ammonium nitrate propellant, but will change the design of the driver-side air bag inflators.
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Mon, 01 Jun 2015   View More
(Reuters) - Intel Corp agreed to buy Altera Corp for $16.7 billion as the world\'s biggest chipmaker seeks to make up for slowing demand from the PC industry by expanding its line-up of higher-margin chips used in data centers.







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Mon, 01 Jun 2015   View More
(Reuters) - Mylan NV said Teva Pharmaceutical Industries Ltd , which has made an unsolicited offer for the company, violated U.S. anti-trust rules by acquiring a stake.







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Mon, 01 Jun 2015   View More
(Reuters) - Google Inc said 21 percent of tech hires last year were women, boosting overall number of women in technical roles by 1 percent, as part of efforts to increase diversity.







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Mon, 01 Jun 2015   View More
DETROIT (Reuters) - Please be advised that the story on Takata agreeing to quit using chemical in airbags is wrong and has been withdrawn. A new story will follow shortly.
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Mon, 01 Jun 2015   View More
TORONTO (Reuters) - Taxi drivers packed a courtroom in Canada\'s largest city on Monday as Toronto stated its case that the Uber ride-sharing service should be regulated, as are the traditional cabs with which Uber competes.
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Mon, 01 Jun 2015   View More
WASHINGTON (Reuters) - Two units of Bank of America\'s brokerage arm Merrill Lynch agreed to pay $11 million and admitted they violated certain federal rules by using inaccurate data for short sale orders, U.S. regulators said on Monday.







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Mon, 01 Jun 2015   View More
(Reuters) - Etihad Airways on Monday issued it strongest response yet to claims that it received market-distorting subsidies, saying it is required to repay loans and that its U.S. competitors have a \"condescending\" view of non-U.S. law.







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Mon, 01 Jun 2015   View More
(Reuters) - U.S. stocks ended with modest gains on Monday, recovering part of last week\'s losses in a session marked by cautious trading as investors reacted to mixed economic data.







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Mon, 01 Jun 2015   View More
SINGAPORE (Reuters) - Crude oil dipped on Tuesday on expectations of rising OPEC output and a potential increase in U.S. shale production, but analysts said that strong refinery demand was preventing further price falls.
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Tue, 02 Jun 2015   View More
BERLIN/BRUSSELS (Reuters) - The leaders of Germany, France and Greece\'s international creditor institutions agreed late on Monday to work with \"real intensity\" in the coming days as they try to clinch a deal in debt negotiations with Athens.
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Tue, 02 Jun 2015   View More
(Reuters) - Takata Corp said on Monday that it will continue producing air bags that use ammonium nitrate propellant, but will change the design of the driver-side air bag inflators.







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Tue, 02 Jun 2015   View More
DETROIT (Reuters) - Fiat Chrysler Automobiles in the past year has delayed the redesign or release of at least a dozen current or new vehicles in North America, according to suppliers familiar with the company\'s plans. The unusual number of delays could let the automaker defer billions of dollars in investment while searching for a partner.
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Tue, 02 Jun 2015   View More
KANSAS CITY, Kansas (Reuters) - For United Auto Workers union members Jermaine and Akema Austin, a two-tier wage system at General Motors Co is not just business, it\'s personal.







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Tue, 02 Jun 2015   View More
(Reuters) - Kraft Foods Group Inc and Mondelez International Inc petitioned a judge to dismiss two counts in a case filed by the U.S. Commodity Futures Trading Commission that alleged the companies manipulated wheat prices.
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Tue, 02 Jun 2015   View More
SINGAPORE (Reuters) - Crude oil prices stabilized on Tuesday due to firm demand after dipping in early trade on expectations that OPEC would not cut output at its meeting this week.







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Tue, 02 Jun 2015   View More
ATHENS (Reuters) - Greece\'s government can make no more concessions in negotiations for a cash-for-reforms deal and its international lenders must take responsibility for their role in the talks, Labour Minister Panos Skourletis said on Tuesday.
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Tue, 02 Jun 2015   View More
NEW DELHI (Reuters) - An Indian woman has accused a driver contracted with online taxi company Uber Technologies of trying to sexually harass her after she hailed his cab, prompting the U.S.-based firm to suspend the driver and launch an internal investigation.
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Tue, 02 Jun 2015   View More
TOKYO (Reuters) - The dollar ascended to a new 12-1/2-year peak against the yen on Tuesday, while Asian shares fell for a second day as the stronger greenback pressured commodity prices.







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Tue, 02 Jun 2015   View More
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Chicago rough rice futures for Jul delivery are currently seen paused 3 cents per cwt (about $1 per ton) higher at $9.540 per cwt (about $209 per ton) ahead of floor trading in Chicago. The other grains are seen trading mostly higher; soybeans are currently seen slightly higher, wheat is listed about 0.6% lower and corn is currently noted about 0.7% higher.

U.S. stock markets looked set for a flat to slightly lower open on Friday, as investors digested the second read on first quarter growth amid pressure on European shares from continued uncertainty over Greece. The second read on first-quarter GDP showed a decline of 0.7% as the economy struggled under heavy snow storms and the renewed strength in the dollar. The U.S. government had forecast a drop of 0.8%. Economists expected a 1% decline in first-quarter GDP, after an original print showed a 0.2% gain. That was down from 2.2% growth in the fourth quarter. Futures traded near earlier lows and Treasury yields briefly ticked higher after the report. European stocks were mostly lower on Friday, with only the FTSE slightly higher as Greece kept investors on edge. Gold is currently trading about 0.1% higher, crude oil is seen trading about 1.2% higher,  and the U.S. dollar is currently trading about 0.1% lower at 8:00am Chicago time.

Fri, 29 May 2015   View More
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Chicago rough rice futures for Jul delivery settled unchanged at $9.510 per cwt (about $210 per ton). The other grains finished the day with mixed results; Soybeans closed about 0.9% higher at $9.3400 per bushel; wheat finished about 2.4% lower at $4.7700 per bushel, and corn finished the day about 0.6% lower at $3.5150 per bushel.

U.S. stocks traded lower on Friday, the last day of trade for the month, as investors digested economic data and remained cautious on continued concerns about Greece. The Dow Jones industrial average traded about 60 points lower after falling more than 150 points to dip into negative territory for the month. The Dow transports traded about 0.70% lower, up from an earlier decline of more than 1%. European stocks closed sharply lower on Friday as Greece debt talks kept investors on edge. The Greek government has said it hopes to reach a reform-for-rescue deal with its international bailout supervisors by Sunday, according to Reuters. However, European officials have denied a deal is near and Christine Lagarde, the head of the International Monetary Fund, was quoted in a German newspaper as saying that Greece talks could fail, forcing the country to default on its debts. The paper toned down the quote on Friday after the release of the official transcript from the IMF, Reuters said. The second read on first-quarter GDP showed a decline of 0.7%, roughly in-line with estimates, as the economy struggled under heavy snow storms and the renewed strength in the dollar. Fourth quarter growth was 2.2%.The Dow Jones Industrial Average traded down 70 points, or 0.39%, at 18,055. The S&P 500 traded down 6 points, or 0.30%, at 2,114, industrials leading seven sectors lower and energy the greatest advancer. The Nasdaq traded down 6 points, or .12%, at 5,091. Gold is trading about 0.2% higher, crude oil is seen trading about 4.8% higher, and the U.S. dollar is seen trading about 0.1% lower at about  1:00pm Chicago time.

Thursday, there were 2,295 contracts traded, up from 681 contracts traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday increased by 292 contracts to 11,852.

Fri, 29 May 2015   View More
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The U.S. cash market was unchanged today as unimpressive export sales did little to sway the market in either direction.

Analysts contend that little new developments in the market prices will remain sideways until either the buyer or sellers hands are forced.

In the meantime, the USDA reported that cumulative net export sales for the week ending on May 21st, totaled 69,700 tons, which was considerably higher than last week and 35% higher than the prior 4-week average.

Increases were reported for the following destinations including: 17,800 tons to Mexico, 15,300 tons to Colombia, 14,400 tons to Haiti, 12,900 tons to Honduras including 11,000 tons switched from unknown destinations, and 7,500 tons to New Guinea including 7,000 tons that was reported late, while decreases of 11,500 tons and 4,200 tons were reported for unknown destinations and Guatemala, respectively.

U.S. rice exporters shipped 61,700 tons, which was 29% lower than last week and 12% lower than the prior 4-week average. The primary destinations included: 14,400 tons to Haiti, 12,700 tons to Honduras, 12,000 tons to Japan, 7,500 tons to New Guinea, and 4,700 tons to El Salvador.

Fri, 29 May 2015   View More
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The Oryza White Rice Index (WRI), a weighted average of global white rice export quotes, ended the week at about $406 per ton, down about $1 per ton from a week ago, down about $2 per ton from a month ago and down about $53 per ton from a year ago.

Thailand

Thailand 5% broken rice is today shown at about $370 per ton, down about $5 per ton from a week ago, down about $15 per ton from a month ago, and down about $5 per ton from a year ago.

Thailand\'s Rice Department will introduce seven new breeds of rice as part of celebrations of this year\'s \"Rice and Farmer\'s Day\" on June 5, according to local sources.

India

India 5% broken rice is today shown at about $375 per ton, unchanged from a week ago, up about $5 per ton from a month ago, and down about $55 per ton from a year ago.

Indian rice exporters expect the country’s basmati rice acreage in 2015-16 kharif season (June-December) to increase about 5% y/y to about 2.2 million hectares, despite lower returns last year.

The Chennai-based Intellectual Property Appellate Board will reportedly hear the claims of parties involved in the basmati geographical indications certification case for three days starting July 8, a move that could see legal protection granted to Indian basmati rice.

India’s rice auctions under the Open Market Sale Scheme since their launch April 1 have received a lukewarm response from traders and private purchasers, according to local sources.

India average wholesale rice prices continued to increase for the third consecutive month in May 2015 due to expected lower production from the just being completed Rabi secondary rice crop (November - May), according to official sources. Prices declined in February due to increased supplies and declining export demand. 

Planting for India 2015-16 Kharif (main) rice crop (June - December) which began on May 8, 2015 is picking up fast and stands at around 308,000 hectares as of May 22, 2015; up about 21% from around 254,000 hectares planted during the same period last year, according to preliminary data released by the Indian Agriculture Ministry.

Vietnam

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

The Prime Minister of Vietnam has approved a national rice development plan under which the government aims to increase competitiveness of Vietnamese rice globally and promote it as a high-quality trademark by 2030.

Vietnam\'s rice exports declined about 11.4% to around 2.4 million tons in the first five months of 2015 from around 2.7 million tons exported during the same period in 2014, local quoted a report by the Ministry of Agriculture and Rural Development (MARD).

Pakistan

Pakistan 5% broken rice is today shown at about $410 per ton, unchanged from a week ago, up about $30 per ton from a month ago and down about $50 per ton from a year ago.

Central & South America

Five percent broken rice from Uruguay and Argentina is today shown at about $565 per ton, unchanged from a week and a month ago, and down about $60 per ton from a year ago.

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

U.S.

U.S. 4% broken rice is today shown at about $470 per ton, unchanged from a week ago, down about $15 per ton from a  month ago and down about $115 per ton from a year ago.

Other Markets

The National Food Authority of the Philippines has called for tenders from Vietnam, Thailand, and Cambodia for 250,000 tons import, with bidding set for June 5.

Cambodia 5% broken rice is today shown at about $435 per ton, unchanged from a week and a month ago, and down about $5 per ton from a year ago.

Exporters in Cambodia say the country lacks adequate capacity to supply rice to the Philippines.

The government of Cambodia plans to increase checks on “unethical” rice tampering as part of its efforts to ensure the Cambodian rice slated for export is not mixed with rice from neighboring countries.

The Trade Minister of Indonesia has ruled out rice imports until July this year as the rice supply with the state logistics agency Bulog is sufficient to meet demand until then with an additional 7.1 million tons of rice expected from the ongoing harvest.  The Agriculture Minister reiterated that there would be enough rice and paddy stocks to be sufficient until September, but did say that if necessary they will import rice as a last resort.

The USDA Post anticipates cross border rice exports to China may increase sharply in 2015.

The USDA Post estimates Myanmar’s rice exports will increase about 10% from 2014 to reach 1.85 million tons in 2015.

South Korea’s state-run Agro Fisheries & Food Trade Corporation has purchased 55,378 tons of non-glutinous brown rice of the U.S. and Chinese origins.

The government of Bangladesh is planning to increase boro (January – May) rice procurement quantity as part of efforts to increase selling prices, local sources quoted the Agriculture Minister as saying following the meeting of the Food Planning Committee on Thursday.

Iran is likely to lift the ban on rice imports after Ramzan in this July, local sources quoted an official at India\'s Agricultural and Processed Foods Export Development Authority (Apeda) as saying.

 

Fri, 29 May 2015   View More
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Vietnam exported around 1.875 million tons of rice during January 1 - May 25, 2015, down about 20% from around 2.34 million tons of rice exported in first five months of 2014, according to data from the Vietnam Food Association (VFA). Average rice export price so far in this year stands at around $419 per ton (FOB), down about 3% per ton from around $433 per ton recorded during same last year.

During May 1-25, 2015, Vietnam exported around 319,513 tons of rice, down about 45% from around 585,536 tons rice exported in full month of May 2014, and down about 51% from around 650,507 tons rice exported in full month of April 2015. Average export prices so far in May stands at around $418 per ton, down about 2% per ton from a year ago, and up about 1% per ton from a month ago.

Mon, 01 Jun 2015   View More
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The Secretary of a Pakistan rice farmers association has expressed concern that last year\'s low rice prices coupled with increasing power shortages may discourage farmers from cultivating paddy in 2015-16 (July - June), according to local sources.

He told local sources that last year, the price of super basmati rice declined about 30% to around Rs.1,400 per 40 kilograms (around $343 per ton) from around Rs.2,000 per 40 kilograms (around $490 per ton) in 2013-14. Similarly, the price of Irri rice declined about 33% to around Rs.800 per kilograms (around $196 per ton) from around Rs.1,200 per 40 kilograms (around $294 per ton) in 2013-14.

The Secretary also noted that they are also expecting huge water shortages in the coming year due to increasing power shortages and expected hot summer. Tube wells will not run to their full capacity and rice needs three times more water than other crops, he adds.

Saying the production costs are too high, he urged the government to consider reducing the prices of agricultural inputs like fertilizers, pesticides and petroleum products to help farmers. He also urged the government to frame strategies to boost exports.

Some farmers noted that the government has so far not paid them the compensation package of Rs.5,000 per acre (around $123 per hectare) promised last year to cope up with the falling global rice prices. They urged the government to release the funds at the earliest.

USDA estimates Pakistan\'s MY 2014-15 (November - October) milled rice production at around 6.9 million tons (around 10.35 million tons, basis paddy). It estimated Pakistan\'s MY 2015-16 milled rice production to remain unchanged at 6.9 million tons.

Last month, Pakistan\'s Federal Committee on Agriculture (FCA) is targeting to produce 7 million tons, basis milled, (around 10.35 million tons, basis paddy) from an area of around 2.8 million hectares in 2015.

Mon, 01 Jun 2015   View More
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Vietnam rice exporters have signed contracts to export 3.2 million tons of rice so far this year, local sources quoted the Ministry of Agriculture and Rural Development (MARD) as saying.

Of the contracted amount, the exporters have reportedly delivered 1.7 million tons of rice worth $738 million. According to the Vietnam Food Association (VFA) data, Vietnam exported about 1.875 million tons of rice in January 1 - May 25, 2015, down about 20% from about 2.34 million tons of rice exported in first five months of 2014.

Vietnam rice exporters have been facing tough times since the beginning of this year due to stiff competition with Thailand, India and Pakistan as well as lower demand from importing countries. Demand from Vietnam\'s traditional buyers such as China, Malaysia and Indonesia has been slow. Indonesian government has still not decided on importing rice for this year. It reportedly decide after July this year.

Farmers in Mekong Delta have told local sources that businesses and traders have reduced buying due to low export demand. According to the Cultivation Department, summer-autumn paddy rice acreage in the Mekong Delta declined slightly y/y (about 8,300 hectares) to around 1.66 hectares this year due to price fluctuations and reduced buying by traders. Most of the paddy farmers are shifting to vegetable and fruit farming, says the Department.

According to the VFA, Vietnam\'s rice exports declined to around 6.6 million tons in 2013 from around 7.7 million tons in 2012. They further declined to around 6.5 million tons in 2014.

Mon, 01 Jun 2015   View More
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The Trade Minister of South Korea and his Chinese counterpart today formally signed the free trade agreement (FTA) between the two countries in Seoul, according to local sources.

China is South Korea\'s largest trading partner and their bilateral trade grew to around $228.9bn in 2013, according to BBC. The FTA is expected to boost both the countries\' annual bilateral trade to more than $300 billion, up about 40% from the current $215.1 billion in 2012, Seoul\'s Trade Ministry was quoted as saying.

Negotiations for the FTA began in May 2012 and both the countries held 14 rounds of negotiations since then. Negotiations have been delayed due to contentions on tariff cuts. While South Korea sought a wider range of cuts on industrial products, China had sought cuts on agricultural and fisheries products.

Finally, the two sides agreed on a total of 22 chapters highlighting tariff cuts and removal of investment barriers in various economic sectors, including services, finance and communications. However, both the sides have excluded rice from the FTA citing it as an important agricultural product, which needs protection.

After 20 years of FTA implementation, South Korea will see tariffs on 92% of all products from China eliminated and China will see tariffs on 91% of all products from South Korea eliminated.

South Korea also has similar FTAs with the U.S. and the European Union (EU). On the other hand China is planning to sign a three-way FTA with South Korea and Japan. It is also seeking to sign a Regional Comprehensive Economic Partnership, involving South Korea and Japan, along with 13 other countries, including Australia, India and New Zealand.

South Korea has recently announced its intention to liberalize rice imports from January 1, 2015. The government\'s decision to impose a tariff of around 513% on rice imports over and above its minimum market access (MMA) quota under the World Trade Organization (WTO) rules is yet to be ratified by the WTO.

Mon, 01 Jun 2015   View More
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India rice sellers increased their quotes for 25% broken rice and 100% broken rice by about $5 per ton each to around $350-$360 per ton and $280-$290 per ton respectively today. Pakistan rice sellers lowered most of their quotes by about $5-$10 per ton. Vietnam rice sellers kept their quotes mostly unchanged today. Thailand rice sellers are out today due to a public holiday.

5% Broken Rice

Thailand 5% rice was last indicated at around $365 - $375 per ton, about a $15 per ton premium on Vietnam 5% rice shown at around $350 - $360 per ton. India 5% rice is indicated at around $370 - $380 per ton, about a $25 per ton discount to Pakistan 5% rice shown at around $395 - $405 per ton, down about a $10 per ton from Friday.

25% Broken Rice

Thailand 25% rice was last shown at around $350 - $360 per ton, about a $25 per ton premium on Vietnam 25% rice shown at around $325- $335 per ton. India 25% rice is indicated at around $350 - $360, up about a $5 per ton from Friday and on par with Pakistan 25% rice shown at around $350 - $360 per ton, down about a $10 per ton from Friday.

Parboiled Rice

Thailand parboiled rice was last indicated at around $365 - $375 per ton. India parboiled rice is indicated at around $350 - $360 per ton, about a $60 per ton discount to Pakistan parboiled rice shown at around $410 - $420 per ton, down about a $5 per ton from Friday.

100% Broken Rice

Thailand broken rice, A1 Super, was last indicated at around $315 - $325 per ton, about a $5 per ton premium on Vietnam 100% broken rice shown at around $310 - $320 per ton. India\'s 100% broken rice is shown at around $280 - $290 per ton, up about a $5 per ton from Friday and  about a $25 per ton discount to  Pakistan broken sortexed rice shown at around $305 - $315 per ton.

Mon, 01 Jun 2015   View More
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In line with the recommendations by the high level committee for the Food Corporation of India (FCI) restructuring, the government of India may not be able to impose the uniform taxation on rice and wheat procurement in all states in the near term, local sources quoted Food Ministry officials as saying.

Currently, taxes on rice and wheat procurement differ from state to state. According to official data, taxes on rice procurement is 14.5% in Punjab, it is 12.5% in Andhra Pradesh, 11.5% in Haryana and 4.7% in Madhya Pradesh. Similarly, taxes on wheat procurement in Punjab is 14.5%, 11.5% in Haryana, 9.2% in Madhya Pradesh and 8.5% in Uttar Pradesh.

However, the Prime Minister constituted panel for restructuring the state-run FCI has recommended lowering state taxes on rice and wheat procurement to 3% uniformly in all states or include taxes in the minimum support price (MSP) of these two grains. However, the state governments have not agreed for uniform taxation and it is not justified to include taxes and commission in the MSP, a Food Ministry official was quoted.

The government of India, in its third advance estimates for major crops, has estimated India\'s rice production for 2014-15 marketing year (October 2014 - September 2015) at around 102.54 million tons, down about 4% from an estimated 106.65 million tons in 2013-14, according to a statement from the agriculture Ministry.

Mon, 01 Jun 2015   View More
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With California rice farmers braced up for another year of drought, experts are suggesting some water saving technologies, which may be helpful to them in reducing the impact of drought on their rice crops to some extent.

According to an article in Fortune, the following are some of the water technologies that could be useful to California rice farmers.

1. Sensor networks: These are wireless networks which use soil tension sensors together with data about temperature, weather and humidity. They are useful in managing irrigation systems by finding appropriate time and efficient ways to use water.

2. Data analytics: These include smart meters installed on water pumps to detect pump leaks. These basically use electricity data to control water use. For instance a farmer receives a text message if there\'s abnormal increase in electricity meter and can avert excessive use of water.

3. Management software, social media: These are basic software and social networking tools that can help farmers to compare and collaborate with other participants in the industry regarding water use, irrigation tools and weather information. These can be useful for primarily  increasing the yield.

4. Biotech and genetics: These include sophisticated genomics and breeding techniques to develop rice seeds are more drought-resistant and water efficient.

5. Water cleaning & reuse: This involves water purification and desalination processes (like reverse osmosis) and help municipal wastewater and sea water useful for irrigation.

These technologies can in fact be useful for any rice farmers.

Mon, 01 Jun 2015   View More
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The government of Iran has ruled out the lifting of rice import ban after Ramzan, Trend Daily Economic News has quoted the Iranian Deputy Agriculture Minister as saying.

There have been expectations in some of the rice exporting countries, including India, over Iran lifting the ban shortly. However, the Minister told local sources that the government is continuing with the ban considering the adequate amount of stocks available.

Iran banned rice imports from the middle of November 2014 to support domestic rice producers, the Deputy Head of Imports Commission of Iran\'s Chamber of Commerce, Industries, Mines and Agriculture was quoted as saying. He added that through Iran needs to import rice every year due to insufficient production, currently, the government has decided to ban imports as there are enough stocks.

According to data from the Iran Customs Administration, the Middle East nation imported 1.077 million tons in the first eleven months of the Iranian financial year 2014-15 (March - February), down about 40% during the same period last year.

India exported around 900,000 tons of rice to Iran in FY 2014-15 (April - March), down about 36% from around 1.4 million tons exported last year, according to data from the All India Rice Exporters Association (AIREA). 

 

Mon, 01 Jun 2015   View More
\"\"

Vietnam has increased the floor price (minimum export price, MEP) of its lower quality (25% broken) rice exports by about 3% to around $350 per ton from around $340 per ton ahead of the Philippines tender on June 5, 2015, according to Reuters.

The new MEP will reportedly be effective from June 1, 2015. \"This is a short-term floor as Vietnam prepares for the rice tender in the Philippines,\" a trader was quoted as saying.

The Philippines National Food Authority (NFA) has called for tenders from Vietnam, Thailand and Cambodia for the 250,000 tons 25% broken well-milled long-grain rice, with delivery expected between July and August, to replenish stocks during the lean season (July - September) as well as prevent commercial rice price hikes.

The South-East Asian nation lowered the floor price of the 25% broken rice exports to $340 per ton from $350 per ton on April 28, 2015 due to subdued demand from importers.

Vietnam exported 2.52 million tons of rice in the first five months of 2015, down about 7.4% from last year, according to government data.

Mon, 01 Jun 2015   View More
\"\"

Chicago rough rice futures for Jul delivery settled 14 cents per cwt (about $3 per ton) higher at $9.650 per cwt (about $213 per ton). The other grains finished the day with mixed results; Soybeans closed about 0.9% lower at $9.2600 per bushel; wheat finished about 3.5% higher at $4.9375 per bushel, and corn finished the day about 0.2% higher at $3.5225 per bushel.

U.S. stocks traded higher on Monday, the first day of trade for June, amid mixed reports on second quarter economic growth. The major indices advanced after earlier fluctuating around the flatline. The Dow Jones industrial average traded about 92 points higher. The Atlanta Fed\'s GDP Now forecast remained unchanged from May 26 at 0.8% after the morning\'s data. The forecast for real consumption growth fell to 2.1% from 2.6%. The Institute for Supply Management (ISM) said its index of national factory activity was 52.8 in May, up from April\'s reading of 51.5, which had tied with March\'s reading as the lowest since May 2013. The reading topped expectations of 52.0, according to a Reuters poll of economists. Construction spending for April increased 2.2%, the highest level in nearly six-and-a-half years. The May manufacturing PMI index came in at 54.0, slightly above the initial read of 53.8 and little changed from April\'s 54.1 report. The Dow Jones Industrial Average traded up 67 points, or 0.37%, at 18,077. The S&P 500 traded up 8 points, or 0.40%, at 2,115, with health care leading eight sectors higher and energy and telecommunications the only two laggards. The Nasdaq traded up 22 points, or 0.44%, at 5,092. Gold is trading about 0.1% lower, crude oil is seen trading about 0.2% lower, and the U.S. dollar is seen trading about 0.5% higher at about  1:45pm Chicago time.

Friday, there were 1,284 contracts traded, down from 2,295 contracts traded on Thursday. Open interest – the number of contracts outstanding – on Friday increased by 91 contracts to 11,943.

Mon, 01 Jun 2015   View More
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The U.S. cash market was slightly firmer today with offers increasing with the futures market while bids stayed flat, and as a result there were little to no trades to report.

Analysts note that bids from mills continue to outpace bids on the river as export demand remains tepid with buyers remaining hand to mouth throughout the entire marketing year.

Mon, 01 Jun 2015   View 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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