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Daily
December 10, 2014
DAILYCompiled
EXCLUSIVE
ORYZA E-NEWSLETTER
& Edited by Riceplus Magazine
News Detail
Pakistan Rice Sector Urged to Adopt Modern
Technologies to Avoid Losses
Dec 09, 2014
Fiji's Agriculture Ministry has signed a Memorandum of Understanding (MoU) with the Chinese
government to provide a boost to the government's Rice Revitalization Program, according to
local sources.According to the MOU, the China Shandong International Economic and Technical
Cooperation Group Limited (CSI) and the Yuan Longping HighTech Agriculture Company
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28
Limited will provide technical support to the Fijian government and help it increase local rice
production.
Fiji's Agriculture Permanent Secretary told local
sources that the MoU would help the government
significantly reduce the annual import bill of
around $40 million. He noted that most of the rice
fields in Fiji fall under economic depressed zones,
which are far from markets. There is a need to
develop those zones and convert them into
production and commercial areas in order to
increase our local rice production, he added.The
CSI Deputy Manager noted that they will
introduce newer technology to farmers as well as train them to use it and boost rice production.
He added that their aim is to increase the paddy per hectare yield from the current 2.5 tons to
over 8 tons.The Chinese government has approved $10 million for the purpose and the project
will commence from January 2015 through December 2016. The Fijian government has already
identified some lands for implementing the project.Fiji is a net importer of rice and imports about
70% of its rice consumption needs of around 44,000 tons annually. Fiji imports rice majorly
from Thailand and India.
Tags: Fiji rice production, Fiji Rice Imports
India 5% broken
395-405
U.S. 4% broken
540-550
355-365
515-525
Pakistan rice sellers lowered most of their quotes by about $5 - $10 per ton today. Other Asia
rice sellers kept their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is quoted at around $400 - $410 per ton, about $15 per ton premium on
Vietnam 5% rice shown at around $385 - $395 per ton. India 5% rice is quoted at around $395 $405 per ton, about $20 per ton premium on Pakistan 5% rice quoted at around $375 - $385 per
ton, down about $5 per ton from yesterday.
25% Broken Rice
Thailand 25% rice was last quoted at around $350 - $360 per ton, about $5 per ton discount to
Vietnam 25% rice shown at around $355 - $365 per ton. India 25% rice is quoted at around $355
- $365, about $20 per ton premium on Pakistan 25% rice quoted at around $335 - $345 per ton,
down about $5 per ton from yesterday.
Parboiled Rice
Thailand parboiled rice is quoted at around $400 - $410 per ton. India parboiled rice is quoted at
around $380 - $390 per ton, about $30 per ton discount to Pakistan parboiled rice quoted at
around $410 - $420 per ton, down about $10 per ton from yesterday.
100% Broken Rice
Thailand broken rice, A1 Super, is quoted at around $330 - $340 per ton, about $5 per ton
premium on Vietnam 100% broken rice shown at around $325 - $335 per ton. India's 100%
broken rice is shown at around $300 - $310 per ton, about $10 per ton premium on Pakistan
broken sortexed rice quoted at around $290 - $300 per ton, down about $10 per ton from
yesterday.
Tags: pakistan rice prices, India rice prices, Vietnam rice prices, Thailand rice prices
The Rice Policy and Management Committee, headed by the Thai Prime Minister, has approved the onfarm pledging program for 2014-15 (October 2014 - September 2015) paddy main-crop fragrant and
glutinous rice on November 5, 2014, to limit downward pressure on prices during the harvest time,
according to USDA Post.The program is called Farmer Loans to Delay the Sales of Rice Paddy for
MY2014/15 Main-Crop Fragrant and Glutinous Rice Paddy and is open till February 2015. The
government expects to collect around 2 million tons of rice paddy under the program due to high
intervention prices.The government is planning to buy fragrant rice paddy at prices about 23% higher than
market prices and glutinous rice paddy at prices about 41% higher than market prices and auction the
collected rice in after February 2015 when the program ends. The government is expected to spend about
29 billion baht (around $921 million) on the program. The Bank of Agriculture and Agricultural
Cooperatives (BAAC) will provide interest-free loans for farmers participating in the program.The
program is in line with the government's plan to delay sale of around 2 million tons of rice to control price
falls in the harvest season.The Post forecasts Thailand to export around 10.5 million tons of rice in 2014
and around 11 million tons in 2015. It expects Thai rice prices to remain competitive for the remaining
period of 2014 due to large main-crop supplies of white and fragrant rice. Thailand exported around 1.2
million tons of rice in October 2014, up about 59% from around 754,717 tons exported during the same
period last year, according to data from Thai Customs Department.USDA Post estimates Thailand 201415 paddy rice production at around 30.5 million tons (around 20.8 million tons, basis milled) from around
11.39 million hectares of rice area.
USDA
Post
has
forecasted
South
Korea's rice imports
to more than double to
around 560,000 tons
in
MY
2014-15
(November - October)
from an estimated
240,000 tons last year,
and up about 37%
from USDA's official
estimates of around
410,000
tons.The
South
Korean
government
has
decided to open its
rice import market
and impose tariffs of about 513% on imports over and above its minimum market access (MMA)
quota of about 409,000 tons under WTO regulations. Imports under the MMA quota would
attract a tariff of 5%. However, the move is opposed by farmers and civic groups saying the
move would demean the local rice sector.The Post estimates South Korea's MY 2014-15 milled
rice production at around 4.24 million tons, slightly up from an estimated 4.23 million tons last
year; and about 1.4% up from USDA's official estimates of around 4.18 million tons due to
continued favorable weather conditions until the completion of the harvest.However, South
Korea's rice acreage is expected to decline about 2% to around 816,000 hectares in MY 2014-15
from an estimated 833,000 hectares last year due to conversion of some agricultural land to
develop commercial complexes.
Tags: South Korea rice imports, South Korea rice production