12th february,2014 daily exclusive oryza rice e newsletter by riceplus magazine

12th February, 2014

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Latest News Headlines…
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Iraq Buys 100,000 Tons of Rice from South America
Iraq Tenders to Buy 30,000 Tons of
Brazil Paddy Rice Index Declines Slightly in Last Week
Oryza Overnight Recap – Chicago Rough Rice Futures Little Changed Following Yesterday’s Rally
International Rice Prices Decline in January 2014; FAO Rice Price Index Down 1.6%
USDA Increases U.S. MY 2013-14 Total Rice Export Forecast to 4.5 Million Tons; Still Down 7.4% from
Last Year
Vietnam Rice Sellers Increase Most of Their Quotes Today; Other Asia Rice Quotes Unchanged
Oryza Global Rice Quotes
Oryza Rice Currency Analysis for Today – Brazil Real Up 0.4%
COL-RICE Announces TRQ Tender Results
Vietnam Exports 307,000 Tons of Rice in January 2014
Oryza Afternoon Recap – Chicago Rough Rice Futures Fail to Maintain Morning Bullishness and Slip
to Slight Losses by the Close
Oryza U.S. Rough Rice Recap – Market Stable Day After USDA Report Confirmed Tighter Ending
Stocks; Iraq Issues Another Tender
Golden Rice – A Revolution Still Waiting to Happen
Thailand Re-Elections Likely on April 27, 2014; Rice Mortgage Program Ends This Month
China Denies Cancellation of 1.2 Million Tons Rice Import Deal with Thailand
China Increases 2014 Paddy Rice Support Price by Up to 3.3%

Cell # 92 321 369 2874

NEWS DETAILS:
Iraq Buys 100,000 Tons of Rice from South America
In the tender on February 3, the Iraqi Grain Board purchased 100,000 tons of South American origin rice
ranging from $704-713 per ton. The tender results disappointed U.S. rice exporters who had hoped to
participate.
Tags: Iraq rice tender

Iraq Tenders to Buy 30,000 Tons of Rice
Feb 11, 2014

Iraq's Ministry of Trade announced they will seek to purchase 30,000 tons of long-grain rice from U.S.,
Uruguay, Argentina, or Brazil or medium-grain rice from Spain, U.S., or Australia. Bids are due February 23
and must remain valid until February 27.
Tags: Iraq rice tender

Brazil Paddy Rice Index Declines Slightly in Last Week
Feb 11, 2014

The Brazilian paddy rice index
maintained by CEPEA declined
to around 36.40 real per 50
kilograms on February 10,
2014, down about 0.4% from
around 36.54 real per 50
kilograms recorded a week
earlier on February 3, 2014. In
terms of USD per ton, the index
stood at around $304.2 per ton
as of February 10, 2014, up
about 0.3% from around
$303.26 per ton as of February
3, 2014.

Cell # 92 321 369 2874

Tags: Brazil paddy rice index cepea

Chicago Rough Rice Futures Little Changed Following Yesterday’s Rally
Feb 11, 2014

Chicago rough rice futures for March delivery are currently paused 1 cent per cwt (about $0.22 per ton) lower at
$15.535 per cwt (about $342 per ton) as of 8:00am Chicago time. The other grains are seen mostly lower this
morning ahead of floor trading in Chicago: soybeans are currently seen about 0.8% lower, wheat was paused
about 0.2% higher, and corn is noted about 0.3% lower.U.S. stock index futures reduced their gains on Tuesday
as prepared testimony from Federal Reserve Chair Janet Yellen had Ben Bernanke's replacement stressing
continuity in the central bank's approach to monetary policy.
Prepared remarks from Yellen – who took over from Ben Bernanke a little more than a week ago – were
released ahead of her formal semi-annual policy report, expected at 10 a.m. Eastern, and comes on the heel of
two weak monthly jobs reports in a row and a spate of market volatility largely tied to uncertainty in emerging
markets. Economic data due on Tuesday include wholesales sales and inventories for December at 3 p.m. U.S.
stock index futures are currently trading about 0.1% higher, gold is currently trading about 0.4% higher, crude
oil is seen trading about 0.3% higher, and the U.S. dollar is currently trading about 0.1% lower at 8:00am
Chicago time.
Tags: chicago rough rice futures

International Rice Prices Decline in January 2014; FAO Rice Price Index Down
1.6%

Cell # 92 321 369 2874

International
rice
prices
declined in January 2014
mainly due to weak import
demand, according to the UN’s
Food
and
Agriculture
Organization (FAO).The FAO
Rice Price index in January
2014 declined 2 points or about
1.6% from previous month.
The lower quality Indica subindex declined by 3.9% and the
aromatic sub-index declined by
2.7%. The benchmark Thai
white rice 100% B declined by
$4 or almost 1% to around
$455 per ton in January
2014.The FAO says that while
the average rice export prices in Vietnam and India declined in January 2014, export prices in the U.S. and
South America remained steady.Domestic rice prices in far eastern countries showed mixed trends in January
2014. Domestic rice prices in some major rice exporting countries such as Cambodia and Vietnam declined due
to weaker export demand and higher 2013 main season harvests. However, those in India, Bangladesh, China,
Myanmar, the Philippines, Indonesia and Myanmar increased due to localized crop damage and unfavorable
weather conditions, the FAO says.
Domestic rice prices in the urban areas of the Western Africa's Sahelian and coastal countries remained stable in
January 2014 due to good harvest and declining international prices. Rice prices in Madagascar increased
marginally month-on-month due to a weak harvest in 2013 as well as heavy rains, but import prices were stable
due to declining international prices. The domestic January 2014 rice prices in the Caribbean country Haiti
increased to high imported rice prices and the depreciation of the local currency with respect to the dollar.
Tags: FAO Rice Price Index, international rice prices January 2014

USDA Increases U.S. MY 2013-14 Total Rice Export Forecast to 4.5 Million Tons;
Still Down 7.4% from Last Year
Feb 11, 2014

The USDA has increased the U.S. MY 2013-14 (June 2013 – May 2014) all rice export forecast by about
45,360 tons or about 1% to around 4.5 million tons in its February World Agricultural Supply and Demand
Estimates (WASDE). However, the U.S. all rice export forecast for MY 2013-14 is still down about 7.4% from
around 4.86 million tons exported in the MY 2012-13.
The USDA increased the forecast for the U.S. combined medium- and short-grain exports by 45,360 tons 3.1%
to about 1.5 million tons, while it retained its forecast for long-grain exports at 3 million tons. The USDA also

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increased its forecast for MY 2013-14 U.S. rough rice exports by about 45,360 tons or about 3% to 1.63 million
tons, up about 5% from 1.55 million tons in MY 2012-13. The increase in forecast is due to higher-thanexpected exports of medium-grain rice to Turkey, the USDA says.
However, the U.S. agency retained its forecast for brown and milled rice exports at 2.9 million tons, down about
12% from 3.3 million tons in the MY 2012-13.The USDA retained its forecast for the U.S. MY 2013-14 all rice
consumption at 5.44 million tons, up about 1.5% from 5.36 million tons in MY 2012-13. The agency increased
its forecast for long-grain domestic use to 4 million tons and lowered the combined medium- and short-grain
domestic use to 1.4 million tons.The USDA lowered its forecast for the U.S. MY 2013-14 all rice ending stocks
to 1.24 million tons, down 25% from 1.65 million tons in MY 2012-13. While the agency lowered its forecast
for the long-grain stocks by 45,360 tons, or 3.5% to 739,363 tons, it retained its forecast for the combined
medium-and short-grain stocks at 394,629 tons.The US agency increased its forecast for MY 2013-14 average
milling yield by 0.75 percentage points to 71%, up 1% from 70% in MY 2012-13, due to more favorable U.S.
crop conditions during the year. The average milling yield this year is likely to be the highest milling yield
achieved since MY 2009-10.The USDA narrowed its forecast for MY 2013-14 all rice season-average price
range to $346.12 - $359.35 per ton, 2.5% from $337.30 - $359.35 per ton in the MY 2012-13.
The US agency narrowed its forecast for long-grain season-average price range to $332.89 - $346.12 per ton
and the combined medium- and short-grain season-average price range to $379.19 - $392.42 per ton.The US
agency increased its forecast for MY 2013-14 global rice production at 471.5 million tons, up 0.4% from 469.5
million tons in the MY 2012-13, with largest increases for Bangladesh and the U.S. While the U.S. production
is expected to increase because of the higher yield, Bangladesh’s rice production is expected to increase due to
favorable weather conditions. However, the USDA lowered its forecast for MY 2013-14 world ending stocks to
105 million tons, down about 2% from 106.85 million tons in MY 2012-13.
Tags: U.S. Rice exports, World Agricultural Supply and Demand Estimates (WASDE

Vietnam Rice Sellers Increase Most of Their Quotes Today; Other Asia Rice Quotes
Unchanged
Feb 11, 2014

Vietnam rice sellers increased their quotes for 5% broken rice, 25% broken rice and 100% broken rice by about
$5 per ton each today. Other Asia rice sellers kept their quotes mostly unchanged.
5% Broken Rice
Thai 5% rice (of new crop) is quoted around $435 - $445 per ton, about a $40 per ton premium over Viet 5%
rice shown around $395 - $405 per ton, up about $5 per ton from yesterday.
Indian 5% rice is quoted around $415 - $425 per ton, about a $25 per ton premium over Pak 5% rice quoted
around $390 - $400 per ton.
25% Broken Rice
Thai 25% rice (of new crop) is quoted about $390 - $400 per ton, about a $20 per ton premium over Viet 25%
rice shown around $370 - $380 per ton, up about $5 per ton from yesterday.

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Indian 25% rice is quoted about $360 - $370 per ton, about a $15 per ton premium over Pak 25% rice quoted
around $345 - $355 per ton.
Parboiled Rice
Thai parboiled rice of the old crop is quoted around $450 - $460 per ton.
Indian parboiled rice is quoted around $400 - $410 per ton, about $5 per ton discount to Pak parboiled rice
quoted around $405 - $415 per ton.
100% Broken Rice
Thai broken rice, A1 Super, of the old crop is quoted around $310 - $320 per ton, about a $45 per ton discount
to Viet broken rice shown around $355 - $365 per ton, up a bout $5 per ton from yesterday.Indian broken
sortexed rice is quoted about $300 - $310 per ton, about a $20 per ton discount to Pak broken sortexed rice
quoted around $320 - $330 per ton.
Tags: Asia rice quotes, Thailand rice quotes, Pakistan rice quotes, Vietnam rice quotes, India rice quotes

Oryza Global Rice Quotes
February 11th, 2014
Long grain white rice - high quality
Thailand 100% B grade 450-460

↔

Vietnam 5% broken

395-405

↑

India 5% broken

415-425

↔

Pakistan 5% broken

390-400

↔

Cambodia 5% broken

450-460

↔

U.S. 4% broken 575-585

↔

Uruguay 5% broken

625-635

↔

Argentina 5% broken

625-635

↔

Long grain white rice - low quality
Thailand 25% broken

390-400

↔

Vietnam 25% broken

370-380

↑

Pakistan 25% broken

345-355

↔

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Cambodia 25% broken 420-430

↔

India 25% broken

360-370

↔

U.S. 15% broken

550-560

↔

Long grain parboiled rice
Thailand parboiled 100% stxd

450-460

Pakistan parboiled 5% broken stxd

↔

405-415

India parboiled 5% broken stxd 400-410

↔

U.S. parboiled 4% broken

660-670

↔

Brazil parboiled 5% broken

590-600

↔

Uruguay parboiled 5% broken

NQ

↔

↔

Long grain fragrant rice
Thailand Hommali 92% 945-955

↔

Vietnam Jasmine

↔

535-545

India basmati 2% broken

1515 -1525

Pakistan basmati 2% broken

NQ

↔

↔

895-905

↔

Thailand A1 Super

310-320

↔

Vietnam 100% broken

355-365

↑

Cambodia Phka Malis
Brokens

Pakistan 100% broken stxd

320-320

365-375

↔

India 100% Broken stxd 300-310

↔

Egypt medium grain brokens

NQ

↔

U.S. pet food

↔

↔

Cambodia A1 Super

470-480

Cell # 92 321 369 2874

345-355

↔

U.S. Calrose 4% broken 620-630

↔

Brazil half grain
Medium grain milled

Egypt medium grain 6% NQ

↔

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

Oryza Rice Currency Analysis for Today – Brazil Real Up 0.4%
Feb 11, 2014

U.S. dollar index was down -0.01% from the open today, when it traded at 80.637 at the close.
Euro was weaker -0.05% by the close, trading around 1.3638 by end of day, after trading between an intraday
high of 1.3683 and low of 1.3630.
Thai baht was stronger +0.23%, trading at 32.739 at the close of business.
Indian rupee was stronger +0.35% at 62.2188.
Brazilian real was +0.40% stronger than the open at today’s close, when it ended at 2.4004 reais per dollar.
Pakistan rupee was +0.03% stronger at 105.3483.
Vietnamese dong was unchanged at 21105.
Mexican peso was +0.31% stronger today, when it traded at 13.2844 pesos per dollar by the close of business
today.
Chinese yuan was almost unchanged, trading at 6.0602.
Argentine peso was +0.03% stronger, trading at 7.8065 pesos per dollar.
Tags: foreign exchange rates

Cell # 92 321 369 2874

COL-RICE Announces TRQ Tender Results
Feb 11, 2014

In the Colombian TRQ on February 3, Col-Rice awarded the full 60,412 tons they made available, with the
lowest winning bid $121.22 per ton and the average winning bid $168.27 per ton. The majority of the tonnage
will be bulk milled rice.
This is the first of three auctions are scheduled this year: February 3, June 5 and October 16, 2014. Another
auction may be held on November 1, 2014 if required.
Tags: COL-RICE U.S. rice exports

Vietnam Exports 307,000 Tons of Rice in January 2014
Feb 11, 2014

Vietnam exported 307,000 tons of rice in January 2014, down about 24% from the same period last year,
according to the Vietnam Food Association (VFA). The exports were valued $127.5 million, down about 31%
from January of last year, suggesting an average price of about $415 per ton. Most of the rice shipped in
January was destined for the Philippines. Vietnam shipments to China and Africa slowed in January, according
to the VFA.Vietnam expects to ship 300,000-350,000 tons of rice in February. Vietnam will need to ship an
average of about 583,000 tons per month to reach a year-end target of about 7 million tons.
Tags: Vietnam rice exports

Oryza Afternoon Recap – Chicago Rough Rice Futures Fail to Maintain Morning
Bullishness and Slip to Slight Losses by the Close
Feb 11, 2014

Chicago rough rice futures for March delivery settled 1.5 cents per cwt (about $0.33 per ton) lower at $15.530
per cwt (about $342 per ton). Despite getting off to an impressive start, rough rice futures gave back all gains
earned during an initial morning rally. In early trading the market shot up to a fresh multi-week high of $15.690
per cwt (about $346 per ton). Although prices finished lower on the day, the current short-term trend remains
positive and today’s action may simply be the result of the recent rally taking place at took quick of a pace. The
previously mentioned point of nearby support at $15.530 per cwt (about $342 per ton) managed to maintain
prices at the close.
However, a breaking and close below this point could be seen as a technically negative signal and could
indicate that a bit of a correction is in store. The other grains were mostly higher today; soybeans closed about

Cell # 92 321 369 2874

0.7% higher at $13.3475 per bushel; wheat finished about 0.9% higher at $5.9025 per bushel; and corn finished
the day about 0.1% lower at $4.4150 per bushel.U.S. stocks surged on Tuesday, with the Dow Jones Industrial
Average rising triple digits, as Federal Reserve Chair Janet Yellen reassured Wall Street that the Fed would
continue the central bank's policy of providing monetary stimulus to bolster the economy.
In her prepared remarks before the House Financial Services Committee, Yellen stressed continuity in monetary
policy and said the recovery in the labor market is far from finished. After rising as much as 143 points, the
Dow Jones Industrial Average was lately up 140.13 points, or 0.9%, to 15,941.92. Energy and materials led
gains among the 10 major sectors on the S&P 500, which rose 13.67 points, or 0.8%, to 1,813.51, a level that
had the index recouping more than half of the losses sustained as of Feb. 5 its recent low. The Nasdaq climbed
27.73 points, or 0.7%, to 4,175.91. Gold is trading about 1.2% higher, crude oil is seen trading slightly lower,
and the U.S. dollar is seen trading nearly unchanged at about 1:00pm Chicago time.The Monday, there were
661 contracts traded, up from 565 contracts traded on Friday. Open interest – the number of contracts
outstanding – on Monday increased by 164 contracts to 8,412.
Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market

Oryza U.S. Rough Rice Recap – Market Stable Day After USDA Report Confirmed
Tighter Ending Stocks; Iraq Issues Another Tender
Feb 11, 2014

The U.S. cash market was seen stable after the USDA decreased their long grain ending stock estimate
yesterday to 16.3 million cwt (about 739,356 tons).As of today, a few old crop offers could be found as low as
$15.55 fob farm (about $343 per ton) although most farmers are asking for $16.11 per cwt fob farm (about $355
per ton) or higher.Bids from larger mills were unchanged today to around $15.00 per cwt (about $331 per ton)
while bids for exporters were held steady near $15.55 per cwt (about $343 per ton), both for February through
March delivery, although smaller mills were still bidding around $16.25 per cwt (about $358 per ton) delivered
mill.In the meantime, the Iraqi Grain Board issued another tender for at least 30,000 tons of rice of either U.S.,
Uruguayan, Argentine, or Brazilian origin. Bids need to be submitted no later than February 23rd and must
remain valid through February 27th.
Tags: U.S. rice prices, U.S. rice market

Golden Rice – A Revolution Still Waiting to Happen
Feb 11, 2014

“Golden Rice will certainly be accepted one day. We are only trying to put pressure so it will be accepted
earlier than later. Each second of the day a child dies unnecessarily.” These are the words of Dr. Patrick Moore,
Canadian ecologist and former director of Greenpeace, who is leading a campaign to make Golden Rice
acceptable in the EU and across the world.What’s surprising about Dr. Moore’s words are that these come
almost fourteen years after Swiss scientists Dr. Ingo Potrykus and Dr. Peter Beyer’s Eureka moment when they

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created a variety of rice containing beta-carotene, an invention that has the potential to greatly reduce Vitamin
A
deficiency
in
some
of
the
poorest
countries
of
the
world.
According to the World Health Organization (WHO), about 250 million pre-school children suffer from a
vitamin A deficiency. “About 2 million die each year from this deficiency. It is therefore more deadly than
either malaria or HIV/AIDS,” says the Allow Golden Rice Now! (www.allowgoldenricenow.org) project. The
deficiency results in 250,000 and 500,000 irreversible cases of blindness annually, mainly in children, half of
whom die within a year of becoming blind. Most of these people live in urban slums where poverty restricts
their
diet
to
a
daily
ration
of
rice.

This can change with the introduction of Golden rice, says
Dr. Adrian C Dubock, Executive Secretary, Golden Rice
Humanitarian Board and Project Manager Golden
Rice (www.goldenrice.org). According to Dr. Dubock,
vitamin A is essential for a fully functional human
immune system, for eyesight, and other requirements. In
children beta-carotene in Golden rice is converted to
vitamin A the same as from beta-carotene in vitamin pills.
About two beta-carotene molecules make one molecule of
vitamin A, which means that around 40 grams per day of
a dry Golden Rice variety can prevent death or
blindness.There is a growing interest among governments
in countries such as the Philippines, China, Bangladesh,
Nigeria and India to allow trials and grow Golden Rice.
Leading scientists across the world support trials and say
that questions can’t be answered without tests. However,
trials of Golden rice face resistance across the world due
to opposition from groups led by Greenpeace. Opponents
have several concerns which we asked Dr. Patrick Moore.
Q. Golden rice is unnatural and man-made, so it is like plastic that will harm my intestine and other parts.
Dr. Patrick Moore: Golden Rice is as natural as any rice, all of which is made by human breeding of rice. In
fact
plastic
will
not
harm
your
intestine
if
it
is
ground
finely.
(The Allow Golden Rice Now! project says, “Genetic engineering (or genetic modification, often called GM,
the products being genetically modified organisms, or GMOs) is an entirely organic procedure. In this sense it
resembles conventional breeding (sexual reproduction) as it does not require chemicals or radiation to produce
changes in the DNA of the product. Genetic modification simply involves moving a small piece of organic DNA
from one plant or animal to another. It is very precise in that the DNA that is moved is known to be responsible

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for expressing the desired trait in the species being modified...Conventional breeding is a slow and imprecise
process. The vast majority of mutations are useless, detrimental, or even fatal. But on occasion a mutation
occurs that improves some aspect of the plant's growth, productivity, resistance to disease, or other factors. It is
very
much
a
scattergun
approach.”)
Q. Golden

rice

is

unsafe

because

not

enough

tests

have

been

carried

out

on

humans.

Dr. Patrick Moore: Tests have been carried out on adults in the U.S. and on children in China. Both proved the
beta carotene [in Golden rice] will be converted to vitamin-A in the body [significantly].
Q. Golden rice is being promoted by some seed companies which want to control global food security and have
a monopoly in seeds.
Dr. Patrick Moore: Golden Rice has no corporate control, it is a humanitarian project. No company has a
monopoly in seeds. Any farmer can start a seed company, that is how seed companies begin. It is ridiculous to
think that a seed company can get control of global food production by selling seeds to farmers who want the
seeds.
(The Allow Golden Rice Now! project says, “In the name of „free choice,‟ activists have worked to deny
farmers the choice by campaigning to make GM illegal. They were particularly successful with this approach in
Europe, where incidences of mad-cow disease and chemical contamination have sensitized the public to food
scares. European agriculture is shaped more by social policy than by economic necessity. Farmers are paid not
to grow food, as there is a regional surplus. Those who do grow food receive large subsidies. So, European
farmers
do
not
have
much
incentive
to
improve
their
yields
or
profits.”)
Q. Golden rice will discourage food diversification because people eating Golden rice will think it is a complete
food.

Dr. Patrick Moore: Golden Rice is a more complete food than normal rice. If these people with vitamin A
deficiency could afford a balanced diet they would get it, but they only eat rice each day. With Golden Rice
their nutrition will be better and they will not so easily go blind or die.
Q. Golden rice will hurt rice exports because GM foods are banned in several countries including the EU,
China, etc. and such countries usually don’t buy any rice (GM or traditional) from countries that grow Golden
rice for fear of contamination.
Dr. Patrick Moore: Rice is not a major export crop. Most rice is eaten in the country where it is grown. So this
will not be a problem. The idea of “contamination” is stupid because the only possible outcome would be more
rice plants with beta carotene therefore better health.
Q. Golden rice is very expensive and takes a long time to cook.

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Dr. Patrick Moore: Golden rice will be the same price as normal rice. It will take the same time to cook
(where did you get that idea which is so goofy?)
Q. Golden rice tastes very turmeric-like.
Dr. Patrick Moore: Not true, it tastes like rice.
History proves that fears and orthodoxy have not made the world better, science has. The Golden Rice case also
seems to reiterate this.
Tags: Golden rice, Vitamin A deficiency

Thailand Re-Elections Likely on April 27, 2014; Rice Mortgage Program Ends This
Month
Feb 11, 2014

Thailand’s Election Commission says that re-elections may be held on April 27, 2014, which means that the
rice mortgage program will end this month and may be discontinued until a new government is formed in late
April 2014.The dissolution of the government in December 2013 has jeopardized the government rice mortgage
program. Local sources say that farmers are unable to invest in the next crop due to delays in payments under
the rice mortgage program. Some farmers have committed suicides due to mounting debts.
Farmers are upset with delays and may begin protests against the government for discontinuing the rice
mortgage program which pays farmers above market rates for their paddy. The caretaker government says that
it has no powers to renew the rice mortgage program which expires at the end of February.Meanwhile, the
cabinet approved the use of 712 million baht (around $22 million) from the central budget to help clear delayed
payments to farmers. The Election Commission will review the plan tomorrow. The Commerce Ministry is also
planning to appeal to the banks and financial institutions to reconsider providing bridge loans to the government
to fund the rice mortgage program.
The ministry says that the caretaker Finance Minister is prepared to sign on the bond documents to reassure
banks and financial institutions that the loans do not breach the law.The Commerce Ministry is also planning to
sell about 1.2 million tons of rice from its warehouses this week, but there are concerns about the quality of rice.
The former Thai Rice Exporters Association (TREA) President says that the government should dispose of the
old rice stocks in the domestic market instead of selling those to exporters as rice importers usually prefer rice
from new harvest.
Tags: Thailand rice mortgage program

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China Denies Cancellation of 1.2 Million Tons Rice Import Deal with Thailand
Feb 11, 2014

China has denied cancelling a deal to import around 1.2 million tons of rice from Thailand despite a probe on
the deal by Thailand’s National Anti-Corruption Commission (NACC) and political uncertainty.Earlier this
month, Thailand state media said that China had cancelled the rice import deal due to the NAAC probe. Some
reports said that China canceled the deal because it wanted to renegotiate with the Thai government as Thai rice
prices are expected to decline in the coming months.
However, Chinese state enterprise Beidahuang, which signed the deal with Thailand, told local sources in China
today that the contract continues and outside reports about cancellation of the deal to import rice from Thailand
are untrue.The deal between Beidahuang and Thailand was signed on November 20, 2013, for delivery starting
in December 2013. However, the delivery was delayed after the dissolution of Thailand Parliament on
December 9, 2013.
Tags: China rice imports, Thailand rice exports

China Increases 2014 Paddy Rice Support Price by Up to 3.3%
Feb 11, 2014

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China has
increased
the
minimum
state
purchasing
prices for
paddy rice
by 2.2% to
3.3% this
year,
according
to
local
sources.Th
e
new
paddy rice
support
price
in
2014
for
early indica
rice is 2.70
yuan
per
kilogram,
up
about
2.3% from
around
2.64 yuan
per
kilogram in
the
previous
year. Paddy
rice support
price
for
mid-andlate indica
rice is 2.76
yuan
per
kilogram,
up about 2.2% from around 2.70 yuan per kilogram in the previous year, while government support price for

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japonica rice is 3.10 yuan per kilogram, up about 3.3% from around 3.0 yuan per kilogram in the previous year,
according to the National Development and Reform Commission (NDRC).In terms of USD per ton, support
price for early indica rice of about $442 per ton (using current exchange rates) in 2014 is up about 5% from
around $420 per ton (using historical exchange rates) in 2013.
Support price for mid-and-late indica rice of about $452 per ton (using current exchange rates) is up about 5%
from around $430 per ton (using historical exchange rates) in 2013, while support price for japonica rice of
about $508 per ton (using current exchange rates) is up about 6% from around $478 per ton (using historical
exchange rates) in 2013.The NDRC says that higher support prices will help increase rice production in the
country. Recently, the government said in its first policy document of 2014 that self-sufficiency in rice remains
an important goal and government support prices and subsidies in rice will continue.However, the USDA says
that increase in support prices will result in high domestic prices which in turn will lead to higher rice imports.
According to the USDA, rice imports by China stood at around 540,000 tons in 2010-11, but imports surged to
around 3.1 million tons in 2012-13. Chinese government sources say that high rice imports are mainly due to
low global rice prices.
Tags: China rice support prices

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