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November 13, 2014

Exclusive ORYZA E-Newsletter

DAILYCompiled
EXCLUSIVE
ORYZA E-NEWSLETTER
& Edited by Riceplus Magazine
November 13, 2014

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November 13, 2014

DAILY EXCLUSIVE ORYZA E-NEWSLETTER

News Headlines

Brazil Paddy Rice Index Increases 0.5% from Last

Week
Cambodia Seeks China Support to Enhance Rice
Infrastructure
Conab Estimates Brazil 2014-15 Paddy Rice
Production at 12.51 Million Tons, Down 3% from
Last Year
Global Rice Quotes
Myanmar Plans to Support Rice Farmers with Extra
Loans
Thailand NLA Defers Ex-Premier Impeachment
Hearing
Oryza Overnight Recap - Chicago Rough Rice Futures
Attempt to Recover from Recent Losses as Corn and
Soy Provide Support
Oryza Afternoon Recap - Chicago Rough Rice
Futures Bounce Higher as Market Recovers to back
above $12.000 per cwt
Thailand, Vietnam Rice Quotes Lower Today; Other
Asia Rice Quotes Unchanged
USDA Post Estimates Vietnam MY 2013-14 Rice
Exports at 6.5 Million Tons, Down 3% from Last Year
Vietnam Exports 604,583 Tons of Rice in September
2014; Down 5% m/m and Up 22% y/y

News Detail...
Brazil Paddy Rice Index Increases 0.5% from Last Week
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DAILY EXCLUSIVE ORYZA E-NEWSLETTER

Nov 12, 2014

The Brazilian paddy rice index maintained by CEPEA reached around 37.07 real per 50
kilograms as of November 11, 2014, up about 0.5% from around 36.9 real per 50 kilograms
recorded on November 04, 2014.
In terms of USD per ton, the index reached around $289 per ton on November 11, 2014, down
about 1.3% from around $293 per ton recorded on November 04, 2014.
Tags: Brazil paddy rice index, Brazil CEPEA index

Cambodia Seeks China Support to Enhance

Rice Infrastructure
Nov 12, 2014

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DAILY EXCLUSIVE ORYZA E-NEWSLETTER

The Cambodian Rice Federation (CRF) is planning to seek financing from China's ExportImport Bank (Ex-Im) to enhance the country's
rice infrastructure such as warehouses and
post-harvest facilities, according to local
sources.The President of the CRF was quoted
as saying that a working group from the
Federation is preparing a proposal highlighting
the current status of the Cambodia rice sector,
existing infrastructure and the existing gaps to
submit to the Ex-Im Bank.
Cambodia targets to export around one million
tons of rice by 2015 and in order to achieve the target the country's rice sector is keen on
upgrading the country's milled rice export capacity. The CRF President noted that they have still
not arrived at the exact amount of funds needed to upgrade their infrastructure, adding that the
working group is analyzing the same. Earlier, the CRF President hinted that the country's rice
sector may need around $500 million financial assistance to enhance capacity infrastructure,
including warehouses, dryers and silos.
The CRF would submit the proposal to the government for its approval. Once approved, they
would sign a loan agreement with China's Ex-Im Bank next month.In September, Cambodia has
launched its first large-scale paddy rice bank with an aim to support the local rice industry by
way of purchasing, storing and drying rice, as well as helping farmers by disbursing loans in
exchange for paddy put up as collateral.
Cambodia exported around 269,370 tons of rice in January - September 2014, up about 1.2%
from around 266,123 tons exported during the same period in 2013, according to the Secretariat
One Window Service (SOWS-REF) under the Ministry of Trade. USDA estimates Cambodia to
export around 1 million tons of rice in 2014, including both official and unofficial exports to
Vietnam.
Tags: Cambodia rice sector, Cambodia rice exports

Conab Estimates Brazil 2014-15 Paddy Rice

Production at 12.51 Million Tons, Down 3%
from Last Year
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DAILY EXCLUSIVE ORYZA E-NEWSLETTER

Nov 12, 2014

Brazils National Grains Supply Company (Conab) has forecasted the country's 2014-15 paddy
rice production at around 12.51 million tons, down about 3% from around 12.162 million tons in
2013-14. Conab increased its projections for Brazil 2014-15 paddy rice production by about 4%
from its last month's projection of around 11.99 million tons.

Conab has estimated Brazil's 2014-15 paddy rice acreage to around 2.372 million hectares,
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DAILY EXCLUSIVE ORYZA E-NEWSLETTER

slightly down from around 2.387 million hectares in 2013-14 and about 1% lower from its
previous month's projection of around 2.39 million hectares.
Paddy rice acreage in the key rice growing Centro-Sul (Center-South) region is projected at
1.573 million hectares in 2014-15, slightly down from around 1.579 million hectares in 2013-14.
Rice acreage in the North/Northeast regions is estimated at around 799,700 hectares, down about
1% from around 808,400 hectares in 2013-14.
Average rice yield in Brazil in 2014-15 is projected at around 5.271 tons per hectare, up about
3% from around 5.095 tons per hectare recorded in the previous year, and down about 1% from
its last month's projection of around 5.314 tons per hectare.USDA estimates Brazil MY 2014-15
(April March) paddy rice production at around 12.28 million tons (around 8.35 million tons,
basis milled), slightly up from around 12.2 million tons (around 8.3 million tons, basis milled) in
MY 2013-14. It estimates Brazils 2014-15 paddy rice acreage at around 2.45 million tons, up
about 2% from around 2.4 million tons produced in MY 2013-14. USDA estimates Brazil to
export around 900,000 tons of rice and import around 700,000 tons of rice in 2014.
Tags: Conab, Brazil paddy rice production, Brazil paddy rice acreage, Brazil yields

Global Rice Quotes

November 12th, 2014
Long grain white rice - high quality
Thailand 100% B grade 420-430
Vietnam 5% broken
430-440
India 5% broken
410-420
Pakistan 5% broken
395-405
Cambodia 5% broken 465-475
U.S. 4% broken
540-550
Uruguay 5% broken
595-605
Argentina 5% broken 595-605
Long grain white rice - low quality
Thailand 25% broken NQ

Vietnam 25% broken 390-400

Pakistan 25% broken 350-360
Cambodia 25% broken NQ

India 25% broken

370-380
U.S. 15% broken
510-520

Long grain parboiled rice

Thailand parboiled 100% stxd 405-415

Pakistan parboiled 5% broken stxd

425-435
India parboiled 5% broken stxd 390-400

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DAILY EXCLUSIVE ORYZA E-NEWSLETTER

U.S. parboiled 4% broken

580-590
Brazil parboiled 5% broken
585-595
Uruguay parboiled 5% broken NQ

Long grain fragrant rice

Thailand Hommali 92%
850-860
Vietnam Jasmine
555-565

India basmati 2% broken

NQ

Pakistan basmati 2% broken

NQ

Cambodia Phka Malis 835-845

Brokens
Thailand A1 Super
330-340

Vietnam 100% broken 330-340

Pakistan 100% broken stxd

320-330
Cambodia A1 Super
NQ

India 100% Broken stxd

310-320
Egypt medium grain brokens NQ

U.S. pet food 445-455

Brazil half grain

NQ

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

Myanmar Plans to Support Rice Farmers

with Extra Loans
Nov 12, 2014

The Myanmar government is considering to support rice

farmers who are struggling with declining prices and lack of
demand after China banned rice imports through the northern
borders of Myanmar citing them as illegal in August. The
Ministry of Cooperatives has decided to provide $500 loan to
each rice farmer for helping them sustain crops in 2015,
according to local sources.The Ministry has sought a loan of
around $300 million from China for the purpose as the Ministry's funds are not sufficient to
cover all farmers, according to the Agriculture Minister. He noted that the Ministry is waiting for
the Parliament approval while China has agreed to disburse the loan amount. The Agriculture
Minister noted that the Ministry is encouraging all eight million rural families to make use of the
loans. He added that the low interest rate that China is offering will be passed on to the farmers.
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November 13, 2014

DAILY EXCLUSIVE ORYZA E-NEWSLETTER

The Myanmar Agricultural Development Bank under the Ministry of Agriculture has already
disbursed around $197 million to about 2 million farmers who are registered under the
Cooperative Small Loan Enterprise (CSLE). The Ministry is planning to include the remaining
farmers also under the CSLE.
The Ministry provided about K1,000 billion (around $962 million) loans to farmers at 5%
interest in the 2014 monsoon season. As paddy prices have declined about 25-30% to around
K280,000 - K300,000 per 2.5 tons (around $108 - $116 per ton) from around K400,000 per 2.5
tons (around $155 per ton) in July this year, farmers are not in a position to repay their loans.
Therefore, Myanmar farmers' associations are planning to sell the monsoon paddy rice in
auctions to cover losses to some extent. The government has also planned to buy paddy rice from
farmers at K350,000 per 2.5 tons (around $136 per ton).
Myanmar has exported around 630,071 tons of rice in the first six months (April - September) of
FY 2014-15, more than double over around 300,000 tons exported during the same period last
year, according to local sources. However, after China's banning of imports through border,
Myanmar's rice exports have plummeted to around 50,000 tons from around 100,000 tons a
month.
Myanmar exported record 1.33 million tons of rice in 2012-13, but exports dropped to 1 million
tons in MY 2013-14. The government is keen on increasing rice exports and accordingly has put
rice at the top of its National Export Strategy for 2014-2019 and is planning to explore newer
markets for its rice exports.According to the UN's Food and Agriculture Organization (FAO),
average wholesale milled rice prices declined about 10% to around K350,880 (around $350) per
ton in October 2014 from around K388,450 (around $400) per ton in August 2014.
USDA estimates Myanmar to produce around 12 million tons of rice, milled basis, and export
around 1.3 million tons of rice in MY 2013-14 (January - December 2014).a
Tags: Myanmar rice prices, Myanmar rice sector

Thailand NLA Defers Ex-Premier

Impeachment Hearing
Nov 12, 2014

Thailand's National Legislative Assembly (NLA) whip has deferred the former Prime Minister
Yingluck Shinawatra's impeachment hearing, which was scheduled for today, in the rice
pledging scheme case to November 28, 2014 as the former PM's lawyers requested for the
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November 13, 2014

DAILY EXCLUSIVE ORYZA E-NEWSLETTER

deferment since she has not been given sufficient time to go through the impeachment
documents, according to local sources.
According to the former PM's lawyers, impeachment documents
were handed over to her on November 7 and the hearing was
scheduled for today. But they argued that the accused should be
intimate about the hearing date at least 15 days in
advance.Meanwhile, the National Anti-Corruption Commission
(NACC) submitted its impeachment writ on the former PM to the
NLA on Monday, November 11, 2014. The NACC stated in the
writ that the former PM breached Article 178 of the 2007 charter,
Article 11 of the State Administration Act, Article 58 of the Constitution Organic Law on
Prevention and Suppression of Corruption Act by twice ignoring warnings by the NACC
regarding corruption in the rice pledging scheme.Local sources say the former PM could face a
five-year political ban if she is impeached.
Tags: Thai rice pledging scheme, National Anti Corruption Commission (NACC)

Oryza Overnight Recap - Chicago Rough

Rice Futures Attempt to Recover from
Recent Losses as Corn and Soy Provide
Support
Nov 12, 2014

Chicago rough rice futures for Jan delivery are currently noted 13.5 cents per cwt (about $3 per
ton) higher at $11.985 per cwt (about $264 per ton) during early morning floor trading in
Chicago. The other grains are seen trading mostly higher: soybeans are currently seen about
1.6% higher, wheat is listed about 0.9% lower and corn is noted about 2.7% higher. U.S. stocks
declined on Wednesday, with benchmarks retreating from records, as investors mulled the
slowdown in Europe's economy and earnings from Macy's and other retailers.
Wednesday data had wholesale inventories rising 0.3% in September, versus expectations for a
0.2% gain. The Dow Jones Industrial Average dropped 75.07 points, or 0.4%, to 17,539.83. The
S&P 500 shed 6.3 points, or 0.3%, to 2,033.38, with utilities leading sector losses and materials
the best performing of its 10 major sectors. The Nasdaq declined 9.03 points, or 0.2%, to
4,651.54. Gold is currently trading about 0.1% higher, crude oil is seen trading about 0.6%
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DAILY EXCLUSIVE ORYZA E-NEWSLETTER

lower, and the U.S. dollar is currently trading about 0.1% higher at 9:00am Chicago time.
Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market

Oryza Afternoon Recap - Chicago Rough

Rice Futures Bounce Higher as Market
Recovers to back above $12.000 per cwt
Nov 12, 2014

Chicago rough rice futures for Jan delivery settled 16.5 cents per cwt (about $4 per ton) higher at
$12.015 per cwt (about $265 per ton). Rough rice futures bounced nicely today as the market
attempts to recover from recent losses which saw prices fall below $12.000 per cwt (about $265
per ton). The other grains finished the day higher; Soybeans closed about 1.5% lower at
$10.4775 per bushel; wheat finished higher at $5.4275 per bushel, and corn finished the day
higher at $3.7775 per bushel.
U.S. stocks wavered on Wednesday, largely erasing a retreat from records, as investors mulled
the slowdown in Europe's economy and earnings from Macy's and other retailers. Utilities were
hardest hit among the S&P 500's 10 major sectors after the United States and China reached an
accord on carbon reductions to curb climate change. Wednesday data had wholesale inventories
rising 0.3% in September, versus expectations for a 0.2% gain. Benchmark indexes moderated
losses to turn little changed, with the Dow Jones Industrial Average initially shedding 78 points,
and lately off a fraction at 17,614.28. The S&P 500 shed almost a point to 2,038.91, with utilities
and energy leading sector losses and telecommunications and consumer discretionary the best
performing of its 10 major sectors. The Nasdaq added 10.73 point to 4,671.28. Gold is trading
about 0.3% lower, crude oil is seen trading about 1.4% lower, and the U.S. dollar is seen trading
about 0.3% higher at about 1:00pm Chicago time.
Tuesday, there were 503 contracts traded, up from 350 contracts traded on Monday. Open
interest the number of contracts outstanding on Tuesday increased by 14 contracts to 9,826.
Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market

Thailand, Vietnam Rice Quotes Lower

Today; Other Asia Rice Quotes Unchanged
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November 13, 2014

DAILY EXCLUSIVE ORYZA E-NEWSLETTER

Nov 12, 2014

Thailand rice sellers lowered their quotes for 5% broken rice and parboiled rice by about $5 per
ton each and lowered their quotes for Hommali rice by about $15 per ton today. Vietnam rice
sellers lowered their quotes for Jasmine rice by about $5 per ton today. Asia rice sellers kept
their quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is quoted at around $405 - $415 per ton, down about $5 per ton from yesterday
and about $25 per ton discount to Vietnam 5% rice shown at around $430 - $440 per ton. India
5% rice is quoted at around $410 - $420 per ton, about $15 per ton premium on Pakistan 5% rice
quoted at around $395 - $405 per ton.
25% Broken
Rice

Thailand 25% rice was last quoted at around $350 - $360 per ton, about $40 per ton discount to
Vietnam 25% rice shown at around $390 - $400 per ton. India 25% rice is quoted at around $370
- $380, about $20 per ton premium on Pakistan 25% rice quoted at around $350 - $360 per ton.
Parboiled Rice
Thailand parboiled rice is quoted at around $405 - $415 per ton, down about $5 per ton from
yesterday. India parboiled rice is quoted at around $390 - $400 per ton, about $35 per ton
discount to Pakistan parboiled rice quoted at around $425 - $435 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is quoted at around $330 - $340 per ton, on par with Vietnam
100% broken rice shown at around $330 - $340 per ton. India's 100% broken rice is shown at
around $310 - $320 per ton, about $10 per ton discount to Pakistan broken sortexed rice quoted
at around $320 - $330 per ton.
Tags: Vietnam rice prices, India rice prices, pakistan rice prices, Thailand rice prices

USDA Post Estimates Vietnam MY 2013-14 Rice

Exports at 6.5 Million Tons, Down 3% from Last Year
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November 13, 2014

DAILY EXCLUSIVE ORYZA E-NEWSLETTER

Nov 12, 2014

USDA Post
has
estimated
Vietnam's
MY 201314 (January
2014
December
2014) rice
exports at
around 6.5
million
tons, down
about 3%
from around 6.7 million tons exported in MY 2012-13 due to expected strong competition from
Thailand, India, Pakistan and emerging exporters such as Cambodia and Myanmar. It estimates
Vietnam's MY 2014-15 rice exports to increase to 6.7 million tons.
The Post estimates Vietnam MY 2013-14 paddy rice production at around 45.058 million tons
(around 28.16 million tons, basis milled), up about 2% from around 44.059 million tons (around
27.537 million tons, basis milled) produced in MY 2013-14 and slightly up from USDA official
estimates of around 44.477 million tons (around 28 million tons, basis milled) due to an
estimated higher yield in the Spring and Autumn crops.
USDA estimates Vietnam MY 2014-15 paddy rice production to increase to around 45.19
million tons (around 28.24 million tons, basis milled) due to expected higher yields from spring
and autumn crops.Acreage for spring and autumn crops has declined due to farmers'
apprehensions from increasing competition from Thailand. The Ministry of Agriculture and
Rural Development (MARD) also planned to shift around 260,000 hectares of paddy land to
other crops by 2015 and around 510,000 hectares by 2020 to keep a check on imports of other
agricultural products such as corn, soybeans, sesame and vegetables.
The Post estimates Vietnams ending stocks to decline considerably if it exports more rice in MY
2013-14. Vietnam's ending stocks declined about 28% y/y to around 624,000 tons in MY 201213 due to an increase of rice consumption and residual.
Tags: Vietnam paddy production, Vietnam rice exports, Ministry of Agriculture and Rural Development

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November 13, 2014

DAILY EXCLUSIVE ORYZA E-NEWSLETTER

(MARD)

Vietnam Exports 604,583 Tons of Rice in

September 2014; Down 5% m/m and Up
22% y/y
Nov 12, 2014

Vietnam has exported around 604,583 tons of rice in September 2014, down about 5% from around

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November 13, 2014

DAILY EXCLUSIVE ORYZA E-NEWSLETTER

636,545 tons exported in August 2014, and up about 22% from around 496,103 tons exported in
September 2013, according to USDA. While share of Vietnam's rice exports to Asia and Africa declined
during the month, share to Europe, Americas and Australia increased.

Asia accounted for around 391,077 tons (about 65% of total rice exports by Vietnam in
September 2014), down about 20% from around 490,705 tons exported in August 2014, and up
about 28% from around 306,079 tons exported in September 2013.Vietnam exported around
88,987 tons of rice to Africa (about 15% of total rice exports by Vietnam in September 2014),
down about 26% from around 120,175 tons exported in August 2014, and down about 38% from
around 143,240 tons exported in September 2013.Vietnam exported around 79,075 tons of rice to
American destinations (about 13% of total rice exports by Vietnam in September 2014), about 13
times more than 6,017 tons exported in August 2014, and three times higher than 26,716 tons
exported in September 2013.
Vietnam's exports to Australia (about 4% of total rice exports by Vietnam in September 2014)
increased about 18 times to around 24,230 tons from around 1,359 tons exported in August 2014
and about 15 times from around 1,636 tons exported in September 2013.Vietnam's exports to
Europe and CIS countries (about 4% of total rice exports by Vietnam in September 2014)
accounted for around 21,214 tons, up about 16% from around 18,289 tons exported in August
2014 and up about 15% from around 18,432 tons exported in September 2013.
In terms of grade, 15% broken rice exports accounted for around 165,873 tons (or, about 27% of
total exports in September 2014); 5% broken rice exports accounted for around 156,780 tons (or,
about 26% of total September exports); Jasmine rice exports accounted for around 153,573 tons
(or, about 25% of total September exports); 25% broken rice exports accounted for around
11,506 tons (or, about 2% of total exports in September 2014), glutinous rice exports accounted
for around 69,522 tons (or, about 11% of total September exports); and 10%, 100% and other
varieties accounted for around 47,329 tons (or, about 8% of total exports in September 2014).
Tags: Vietnam rice exports, Vietnam rice exports to Asia, Vietnam rice exports to Africa, Vietnam rice
exports to Europe, Vietnam rice exports to Australia

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