19th feb.2014 daily exclusive oryza news by riceplus magazine

19th February , 2014

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India Finance Minister Announces Big News for the Nation's Rice Sector
African Agricultural Technology Foundation Collaborates With Private Companies to Boost Rice
Yields
IRRI Scientist Urges India Punjab Farmers to Cut Rice Area to Reduce Water Use
Vietnam Exports 337,318 Tons of Rice in January 1 - February 13, 2014
Well-Planned Strategy Can Help Eastern India Become ‘Rice Bowl of India', Claims Study
Asia Rice Quotes Unchanged Today
Thailand PM Yingluck to Face Criminal Charges for Losses Related to Rice Mortgage Scheme
Iraq Says No to Thailand Rice Until Quality Improves
Oryza Afternoon Recap – Chicago Rough Rice Futures Rocket Higher as Buyers Vie for Short Supplies,
Firmer Grain Complex Adds Support
National Economic and Social Development Board Lowers Thailand 2014 Economic Growth Forecast;
PM Struggles to Fund Failing Rice Mortgage Scheme
Myanmar Rice Federation Calls for Improved Rice Policies, to Compete with Neighboring Countries
Oryza Rice Currency Analysis for Today – Thailand Baht Falls 0.8%
Oryza U.S. Rough Rice Recap – Futures Market Rally Boosts Buyer Interest

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

Oryza Global Rice Quotes

NEWS DETAILS:
India Finance Minister Announces Big News for the Nation's Rice Sector
Feb 18, 2014

In the interim budget (to be in effect until the new government is formed in May 2014) announced on February
17, 2014, India‟s finance minister estimates agricultural credit by Indian banks would reach Rs.735,000 crore
(around $119 billion) in the fiscal year 2013-14 (April – March), which exceeds the target of Rs.700,000 crore
(around $113 billion) by around 5.3%. The finance minister has fixed a target of Rs.800,000 crore (around $130
billion) towards agricultural credit for the fiscal year 2014-15. The minister says that the effective rate of
interest on farm loans at 4% under the interest subvention scheme, which was introduced in 2006-07, would
continue. He says that the scheme, under which Rs.23,924 crore (around $3.9 billion) has been released so far,
would also continue.
He projects India‟s agricultural GDP growth in the 2013-14 fiscal to reach 4.6%. The finance minister estimates
India‟s total food grain production to increase by about 3% to around 263 million tons in FY 2013-14. He
estimates India‟s agricultural exports in FY 2013-14 fiscal to increase by about 10% to around $45 billion, up
from $41 billion in FY 2012-13.The finance minister also exempted service tax on loading, unloading, packing,
storage and warehousing of rice. Recently, the finance ministry had removed rice from the service tax negative
list and a service tax of 12.6% was imposed on rice storage and handling facilities. The finance ministry said
that paddy could be defined as "agricultural produce” but rice was not, since rice is a by-product of processed
paddy.
Tags: India budget 2014, rice service tax

African Agricultural Technology Foundation Collaborates With Private Companies
to Boost Rice Yields
Feb 18, 2014

African Agricultural Technology Foundation (AATF) has entered into public private partnership program (PPP)
called "Hybrid Rice Project" with several private companies and the National Agricultural Research Systems of
Kenya, Ethiopia, Uganda, Tanzania, Nigeria and Ghana with the aim of increasing rice yields in several African
countries using genetics and technology.

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Decreasing yields per hectare and increasing rice consumption and imports and in many Southern and East
African countries have become a major concern. AATF says that the partners of the Hybrid Rice Project will
together develop hybrid rice germplasms that are adaptable to African weather conditions to help. The partners
are keen to create sustainable hybrid rice agri-businesses to support rice farming in East, West and Southern
African countries, AATF says.
The project aims to develop and expand 2-line hybrid rice technology in selected African countries and ensure
that the technology reaches farmers and helps improve rice yields and income streams. Under the 2-line rice
hybrid system technology, a female line is developed using a temperature modulated single gene system and it
is combined with a male line to achieve improved heterosis through genetic diversity in the hybrids. This
system can be used to switch from fertile to sterile females by understanding the breeding and seed production
environment. HEAL will basically work on developing new hybrids, according to the AATF.The public and
private partners in the project will also develop and distribute seeds, train breeders and seed production
specialists, establish testing and technology exchange networks, and provide other technology required to help
ensure the success of the project. The project will also use web-based tools to help researchers determine both
when and where to conduct various breeding operations, seed multiplication and seed production.
Tags: africa rice production, African Agricultural Technology Foundation (AATF)

IRRI Scientist Urges India Punjab Farmers to Cut Rice Area to Reduce Water Use
Feb 18, 2014

International Rice Research Institute (IRRI) scientist Dr. G.S. Khush says that rice farmers in India‟s northern
state of Punjab should reduce area under more water-demanding rice and switch to vegetable and fruit crops as
the underground water resources in the state are declining, according to local sources.Dr. Khush told sources in
Punjab, "Because of overexploitation of underground water by state farmers for watering rice, the water level in
several blocks in Punjab has reached critical level." Though farm scientists are working on reducing water
consumption level in rice crop, Punjab farmers could exploit great demand for vegetables in Middle East and
Europe, he added.
Dr. Khush was born in Punjab and spearheaded the IRRI's program for developing high-yielding disease- and
insect- resistant varieties of rice. He supports GM rice and says that GM crops are very safe. He also urged for
more private sector participation in marketing the rice crop in India.
The Punjab Chief Minister called for a separate budget for the agriculture sector and urged the Central
government to enhance the plan allocation for the agriculture sector to 10% from the current 3.7%. He also
urged the Indian government to hike the minimum support price (MSP) by providing a margin of 50% over the
cost of production to the farmers to ensure remunerative prices of their produce.
Tags: India rice production

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Vietnam Exports 337,318 Tons of Rice in January 1 - February 13, 2014
Feb 18, 2014

Vietnam exported about 337,318 tons of rice during January 1 – February 13, 2014, down about 55% from
about 744,279 tons of rice exported in the first two month of 2013, according to the Vietnam Food Association
(VFA). Average export price so far this year stands at about $416 per ton (FOB), down about 6% from an
average export price of about $444 per ton (FOB) recorded in the first two months in 2013.During February 113, 2014, Vietnam exported about 30,064 tons of rice, down about 91% from about 340,185 tons of rice
exported in full month of February 2013, and down about 90% from about 307,000 tons rice exported in
January 2014. Average export price so far this month stands at about $420 per ton (FOB), down about 3% from
around $434 per ton in February 2013, but up about 1% from about $415 per ton recorded in January
2014.Meanwhile, domestic paddy prices in the Mekong Delta for common stock stand at around VND 5,550 5,600 per kilogram (about $260 - $262 per ton, using current exchange rates). Vietnamese 5% broken domestic
rice prices stand at around VND 7,400 - 7,500 per kilogram (about $347 - $352 per ton, using current exchange
rates), while Vietnamese 25% broken rice prices stand at around VND 7,000 - 7,100 per kilogram (about $328 $333 per ton, using current exchange rates).
Tags: Vietnam rice exports, Vietnam Food Association (VFA)

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Well-Planned Strategy Can Help Eastern India Become ‘Rice Bowl of India', Claims
Study
Feb 18, 2014

Integrated approach with well-planned strategy is needed to increase rice output in the Eastern India, according
to a study by the Associated Chamber of Commerce and Industry of India.The study claims that the eastern
India states of West Bengal, eastern Uttar Pradesh, Odisha, Bihar, Chhattisgarh, Assam and Jharkhand have the
potential to emerge as the rice bowl of India. Rice production in the region, which has about 23 million hectares
of rice acreage, could increase by about 16% to about 6.7 million tons by 2017-18 crop year (July - June) from
the current 5.8 million tons by promoting better farm practices and agri-technologies.The study claims that
recurring drought and floods, poor growth in spread of high yielding varieties, injudicious use of farm inputs
and poor credit facilities are leading to lower yields in the region. The study recommends use of hybrids, intercropping, increased mechanization, use of micro nutrients, extension support and demonstration centers to
increase yields in the region. “Focused research in evolving hybrid seeds in developing transgenic rice to
address the problem of nutrients, pests, diseases, drought and floods,” says the study.
Tags: India rice production

Asia Rice Quotes Unchanged Today
Feb 18, 2014

Asia rice sellers kept their quotes mostly unchanged today.
5% Broken Rice
Thai 5% rice (of new crop) is quoted around $445 - $455 per ton, about a $50 per ton premium over Viet 5%
rice shown around $395 - $405 per ton.
Indian 5% rice is quoted around $415 - $425 per ton, about a $20 per ton premium over Pak 5% rice quoted
around $395 - $405 per ton.
25% Broken Rice
Thai 25% rice (of new crop) is quoted about $390 - $400 per ton, about a $25 per ton premium over Viet 25%
rice shown around $365 - $375 per ton.
Indian 25% rice is quoted about $360 - $370 per ton, about a $10 per ton premium over Pak 25% rice quoted
around $350 - $360 per ton.

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Parboiled Rice
Thai parboiled rice of the old crop is quoted around $460 - $470 per ton.
Indian parboiled rice is quoted around $400 - $410 per ton, about $5 per ton discount to Pak parboiled rice
quoted around $405 - $415 per ton.
100% Broken Rice
Thai broken rice, A1 Super, of the old crop is quoted around $315 - $325 per ton, about a $40 per ton discount
to Viet broken rice shown around $355 - $365 per ton.
Indian broken sortexed rice is quoted about $300 - $310 per ton, about a $20 per ton discount to Pak broken
sortexed rice quoted around $320 - $330 per ton.
Tags: asian rice export quotes

Thailand PM Yingluck to Face Criminal Charges for Losses Related to Rice
Mortgage Scheme
Feb 18, 2014

Four protesters in Thailand died today in clashes with police After protesters have blocked roads, stormed
public buildings, and delayed elections, caretake PM Yingluck is facing charges of negligence for losses related
to the Thailand rice mortgage scheme. Yingluck‟s brother, Thaksin, was outed in a 2006 coup. The rice scheme
had been engineered by the siblings as a way to boost rural incomes in hopes of cementing their political control
in Thailand, including the goal to pass an amnesty bill that would provide Thaksin protection to return to
Thailand from his self-imposed exile. The scheme became too costly and the siblings‟ efforts to push the
amnesty bill through parliament in November 2013 seemed to be too aggressive of a political gamble. The
Thailand government admitted the rice scheme resulted in losses of about $4 billion for the first two harvests
while independent estimates say this figure is closer to $12 billion. Anticorruption investigators have been
probing caretaker PM Yingluck, with some citizens demanding that she go to prison.
Thailand‟s National Anti-Corruption Commission (NACC) said today it has gathered enough evidence to
charge Yingluck with negligence for her role in overseeing the government‟s rice subsidy program. The plan to
officially inform her of the charge February 27 and she will have a chance to defend herself before the NACC
determines if she will be officially charged.Thailand is estimated to have about 18 million tons of rice in
storage, accumulated under the rice mortgage scheme, about three times normal storage supplies. There‟s fear
that if the government offloads a lot of rice at once it will flood the market and send Thai and global rice prices
spiraling lower. On the other hand, some fear prices could advance rapidly for several reasons including: rice
stocks may be lower than estimated if supplies have „leaked‟ out via corrupt channels; rice stocks may be in

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terrible condition, rending good supplies lower than expected; and finally, the end of the rice mortgage scheme
and the farmer‟s losses from not yet being paid may reduce rice acreage in the coming crop harvests.

The Thailand rice scheme also created a bank run. The head of the state-run Government Savings Bank
stepped down after trying to supply Thailand‟s Bank for Agriculture and Agricultural Cooperatives (BAAC)
with a 20 billion baht (about $620 million) credit line after the move spurred a bank run on the Government
Savings Bank. Government Savings Bank recorded net withdrawals of 20b baht on February 17, compared
with usual outflows of about 7 billion baht.
Tags: Thailand rice mortgage scheme

Iraq Says No to Thailand Rice Until Quality Improves
Feb 18, 2014

The Acting Director of Iraq‟s Grain Board, General Hassan Ibrahim, has said that Iraq will not buy Thai rice
again unless the quality improves. Ibrahim said that he will meet with Thai officials to discuss the issue,
although a date for the visit has not yet been established.Citing complaints about both the quality and the weight
of rice sent to Iraq from Thailand, Iraq stopped purchases from Thailand in the second half of 2013, costing
Thailand as much as 300,000-400,000 tons in additional sales last year – sales that would have helped alleviate
the massive stockpiles of rice the country is currently holding.Even though US rice and Uruguayan rice is more
expensive than Thai rice, the Iraqi market prefers them due to quality, according to local sources. In 2013, Iraq
was the second largest importer of Thai rice, behind Benin, according to the Thai Rice Exporters
Association. Thailand used to be the world‟s largest exporter of rice but has lost that position to India in recent
years.
Tags: Iraq rice imports, Thailand rice exports

Oryza Afternoon Recap – Chicago Rough Rice Futures Rocket Higher as Buyers Vie
for Short Supplies, Firmer Grain Complex Adds Support
Feb 18, 2014

Chicago rough rice futures for March delivery settled 27 cents per cwt (about $6 per ton) higher at $15.855 per
cwt (about $350 per ton). Rough rice futures recovered in a big way today, following a double digit loss ahead
of the extended holiday weekend. Prices shot up through multiple layers of resistance before ultimately closing
above the 200-day moving average, noted at $15.790 per cwt (about $348 per ton), for the first time since early
December. Today‟s action once again saw price break out beyond the upper Bollinger band which provided
little in the way of resistance during a late session rally.
The faster moving averages have turned positive and have moved to cross the longer term averages from
below, further confirming that a bullish trend is underway. Today‟s action is seen as a further positive

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development for trade direction, however a bit of a pullback could be in store given the speed of the current
rally.
The other grains finished sharply higher today; soybeans closed about 1.8% higher at $13.6100 per bushel;
wheat finished about 2.3% higher at $6.1200 per bushel; and corn finished the day about 1% higher at $4.4950
per bushel.U.S. stocks fluctuated on Tuesday, with Wall Street on uncertain footing in the wake of Wall Street's
biggest weekly rise this year, as investors considered an acquisition and downbeat reports on builder confidence
and manufacturing in New York. A measure of home builder confidence fell dramatically in February as dismal
weather hit sales. And, the New York Fed's "Empire State" general business conditions index had factory
activity in New York, the upper part of New Jersey and lower portion of Connecticut slowing in February,
coming in at 4.48 in February from 12.5 in January. Economists polled by Reuters expected a reading of 9.0.
After a three-day holiday weekend, the Dow Jones Industrial Average fell 14.82 points, or 0.1 percent, to
16,139.57. The S&P 500 rose 2.45 points, or 0.1 percent, to 1,841.08, with health care the best performing and
telecommunications faring worst among its 10 major sectors. Rising to a 13-year high, the Nasdaq lately gained
28.47 points, or 0.7 percent, to 4,272.49 Gold is trading about 0.4% higher, crude oil is seen trading about 1.5%
higher, and the U.S. dollar is seen trading about 0.2% lower at about 1:00pm Chicago time.Friday, there were
920 contracts traded, down from 1,377 contracts traded on Thursday. Open interest – the number of contracts
outstanding – on Friday decreased by 122 contracts to 7,952.
Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market

National Economic and Social Development Board Lowers Thailand 2014 Economic
Growth Forecast; PM Struggles to Fund Failing Rice Mortgage Scheme
Feb 18, 2014

The National Economic and Social Development Board (NESDB) in Thailand has lowered the country's
economic growth forecast for 2014 to 3-4% from its earlier forecast of 4-5% after GDP growth in the fourth
quarter of 2013 slowed down to 0.6%, according to local sources. The NESDB said in a statement on Monday
that the economy grew by 2.9% in 2013, which was reportedly lower than the 3% predicted by the Bank of
Thailand
(BoT)
in
November
2013.
The NESDB also lowered its export and import growth projections for the country. While the Board revised the
2014 export growth down to 5-7% from its previous projection of 7%, it cut its projection for 2014 import
growth to 5.7% from its previous forecast of 6.7%.Although sources from the Finance Ministry expressed
doubts whether the credit rating agencies would downgrade Thailand, both Moody's Investors Service and Fitch
Ratings assigned "Baa1" and "BBB" respectively for Thailand, with stable outlook.
The rating agencies said they did not consider government's unpaid debts to the country's farmers as a technical
default as the delayed payments were largely due to prolonged political conflict.The Caretaker government is
still struggling to garner funds to make payments to the farmers. The labor union of the state-run Government

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Savings Bank (GSB) are opposing the bank's decision to approve a 20 billion baht (around $618 million) loan to
the Bank of Agriculture and Agricultural Cooperatives (BAAC) saying lending to finance the troubled rice
pledging scheme would undermine the confidence of depositors. While the GSB President maintained that the
lending was not meant to support the rice pledging scheme, the government insisted on making the longoverdue payments to the farmers from Monday.Meanwhile, the caretaker Prime Minister has assured that
payments will be made to all farmers participating in the rice-pledging scheme. She blamed the political
protestors for using the farmers' problems to bring down the caretaker government. The farmers are now in the
middle of a political game being played by the protest leaders, who are refusing to follow the democratic and
legal path, she adds. The PM said the BAAC would extend the period of debt repayments and increase credit
line limits. The government needs about 130 billion baht (around $4 billion).
Tags: Thailand rice mortgage scheme

Myanmar Rice Federation Calls for Improved Rice Policies, to Compete with
Neighboring Countries
Feb 18, 2014

The Myanmar Rice Federation (MRF) has called for improved rice policies, to compete with neighboring rice
exporting countries like India, Thailand, Vietnam and China. The General-Secretary of the MRF said the
government needs to adopt more comprehensive rice policies, which allow foreign investors to invest freely in
areas such as seed production, rice milling or industrial farming.He noted that the existing policy to ensure
domestic production and export the surplus is too general and a more precise and strategic policy specifying the
roles of rice millers, traders, companies and farmers as well as the insurance system is needed. The MRF will
cooperate with the government, international organizations and civil society groups to work out new rice
policies, he adds.
The General-Secretary also said that the government and the MRF are working out on a draft of new rice
policies and will shortly present it to the President and the public, as well as political parties and civil society
organizations for their input and advice.The Democratic Voice of Burma, a non-profit media organization, also
said that Myanmar lacks comprehensive policy governing foreign investment in agriculture and the export of
rice despite scrapping the longstanding ban on private rice exports in 2010. The modernization needs of the
country's agriculture sector are vast, says the media organization. Myanmar was the world's largest rice exporter
from 1961 to 1963.The USDA estimates the country to produce 1.1 million tons of rice in the MY 2013-14,
about 3% more than the 1.07 million tons in the MY 2012-13. The US agency estimates the country's
consumption needs at 1.025 million tons, slightly up from last year's 1.02 million tons. The country's exports are
estimated to remain at last year's level of around 750,000 tons.
Tags: myanmar rice exports

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Oryza Rice Currency Analysis for Today – Thailand Baht Falls 0.8%
Feb 18, 2014

U.S. dollar index was down -0.16% from the open today, when it traded at 80.010 at the close.
Euro was stronger +0.37% by the close, trading around 1.3758 by end of day, after trading between an intraday
high of 1.3770 and low of 1.3695.
Thai baht was weaker -0.78%, trading at 32.485 at the close of business.
Indian rupee was weaker -0.58% at 62.2200.
Brazilian real was -0.22% weaker than the open at today‟s close, when it ended at 2.3952 reais per dollar.
Pakistan rupee was +0.03% stronger at 104.8800.
Vietnamese dong was +0.02% stronger at 21100.
Mexican peso was -0.16% weaker today, when it traded at 13.2314 pesos per dollar by the close of business
today.
Chinese yuan was weaker -0.06%, trading at 6.0675.
Argentine peso was -0.09% weaker, trading at 7.7681 pesos per dollar.
Tags: foreign exchange rates

Oryza U.S. Rough Rice Recap – Futures Market Rally Boosts Buyer Interest
Feb 18, 2014

The U.S. cash market was fairly active today after a rally in the futures market led some buyers to get more
aggressive.As of today, old crop offers were unchanged and could be found somewhere between $15.55$16.11 fob farm (about $343-$355 per ton) depending on where they are located and how quickly they could
ship.Bids from larger mills increased today to around $15.35 per cwt (about $338 per ton) while bids for
exporters were unchanged near $15.55 per cwt (about $343 per ton), both for February through March delivery,
although there were reports of rice trading as low as $15.75 per cwt (about $347 per ton) delivered barge facility
and as high as $16.25 per cwt (about $358 per ton) delivered mill.
Tags: U.S. rice market, U.S. rice prices

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Oryza Global Rice Quotes
February 18th, 2014
Long grain white rice - high quality
Thailand 100% B grade
460-470
Vietnam 5% broken 395-405
↔
India 5% broken
415-425
↔
Pakistan 5% broken 395-405
↔
Cambodia 5% broken 450-460
↔
U.S. 4% broken
575-585
↔
Uruguay 5% broken 625-635
↔
Argentina 5% broken 625-635
↔
Long grain white rice - low quality
Thailand 25% broken 390-400
↔
Vietnam 25% broken 365-375
↔
Pakistan 25% broken 350-360
↔
Cambodia 25% broken
420-430
India 25% broken
360-370
↔
U.S. 15% broken
550-560
↔

↔

↔

Long grain parboiled rice
Thailand parboiled 100% stxd
460-470
Pakistan parboiled 5% broken stxd 405-415
India parboiled 5% broken stxd
400-410
U.S. parboiled 4% broken
660-670
↔
Brazil parboiled 5% broken 590-600
↔
Uruguay parboiled 5% broken
NQ ↔
Long grain fragrant rice
Thailand Hommali 92%
945-955
Vietnam Jasmine
525-535
↔
India basmati 2% broken
1515 -1525
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Malis 895-905
↔
Brokens
Thailand A1 Super
315-325
↔
Vietnam 100% broken
355-365
Pakistan 100% broken stxd 320-320
Cambodia A1 Super 365-375
↔
India 100% Broken stxd
300-310

↔
↔
↔

↔
↔

↔
↔
↔

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Egypt medium grain brokens NQ
U.S. pet food 470-480
↔
Brazil half grain
345-355
Medium grain milled
U.S. Calrose 4% broken
Egypt medium grain 6%

↔
↔

620-630
NQ ↔

↔

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

For Advertising SPECS & RATES
ontact: Advertising Department
Mujahid Ali
mujahid.riceplus@gmail.com
+92 321 369 2874

Cell # 92 321 369 2874

19th feb.2014 daily exclusive oryza news by riceplus magazine

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19th feb.2014 daily exclusive oryza news by riceplus magazine