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Vol 5.Issue XV
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The government of India has allowed private traders to procure around one
million tons of rice during the 2015-16 Kharif Marketing Season (KMS) in the
states of Uttar Pradesh, Bihar, Jharkhand, West Bengal and Assam,
according to local sources.
The Indian government is targeting to procure a total of 6.9 million tons of
rice from the five states in the on-going procurement season, local sources
quoted a Food Ministry official.
The decision to involve private players in the rice procurement operations is
based on the recommendations of the Committee set up to restructure the
Food Corporation of India (FCI) operations. The Committee headed by a
former Food Minister noted that the government needs to focus on the
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Chicago rough rice futures for Jan delivery settled 19.5 cents per cwt (about
$4 per ton) lower at $11.945 per cwt (about $263 per ton). The other grains
finished the day with mixed results; Soybeans closed about 1.2% lower at
$8.8450 per bushel; wheat finished about 4% higher at $5.0900 per bushel,
and corn finished the day about 1.3% higher at $3.8450 per bushel.
U.S. stocks traded in a range Monday, attempting to hold last week's gains,
as investors readied for another week of earnings and central bank
announcements. Stocks rallied last week, with the S&P 500 ending in
positive territory for 2015, after hints of further stimulus from the European
Central Bank Thursday and a surprise rate cut by the People's Bank of China
Friday. European equities closed lower Monday, while most Asian stocks
closed mildly higher. The Hang Seng ended a touch lower. In U.S. economic
news, September new home sales fell 11.5% to near a one-year low after
two straight months of gains, Reuters said.
The Federal Open Market Committee kicks off its two-day meeting Tuesday
and is scheduled to release its statement Wednesday afternoon. In early
afternoon trade, the Dow Jones Industrial Average declined 16 points, or
0.09%, at 17,630. The S&P 500 traded down 2 points, or 0.12%, at 2,072,
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with energy leading seven sectors lower and consumer discretionary leading
advancers. The Nasdaq traded up 12 points, or 0.23%, at 5,043. Gold is
trading about 0.2% higher, crude oil is seen trading about 1.2% lower, and
the U.S. dollar is seen trading about 0.3% lower about 1:30pm Chicago
time.
Friday, there were 2,940 contracts traded, down from 2, 976 contracts
traded on Thursday. Open interest the number of contracts outstanding
on Friday decreased by 163 contracts to 12,644.
Vietnam exported about 4.48 million tons of rice in January 1 - October 20, 2015, down
about 17% from about 5.37 million tons of rice exported in first ten months of 2014,
according to data from the Vietnam Food Association (VFA). The average rice export
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price so South Korea Plans to Procure 590,000 Tons tons of Rice in 2015 to Stabilize
Prices
Oct 26, 2015
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in full month of September 2015. The average export price so far in August
stands at about $400.09 per ton, down about 15% per ton from a year ago
and down about 2% per ton from a month ago.
Vietnam 5% broken
370-380
India 5% broken
350-360
Pakistan 5% broken
305-315
Myanmar 5% broken
415-425
Cambodia 5% broken
415-425
Uruguay 5% broken
535-545
Argentina 5% broken
530-540
330-340
355-365
280-290
330-340
500-510
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Long grain parboiled rice
Thailand parboiled 100% stxd
360-370
405-415
590-610
545-555
Vietnam Jasmine
475-485
NQ
NQ
830-840
305-315
Brokens
Thailand A1 Super
275-285
355-365
NQ
330-340
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Italian paddy rice prices, which were quite low in the last week of September
last week and first week of October, have increased in the second week of
October and are continuing to increase in the third week as well. Prices of
both Indica and Japonica varieties increased during the week. Harvesting of
2015-16 (September - August) rice land is almost complete and the total
amount of paddy available can be known shortly, according to local sources.
Below are farm gate paddy quotes from the Milan grain exchange, as of
October 20:
Arborio-Volano rice is quoted 650-675 euros (about $ 716-743) per ton, up
100 euros (about $ 110) per ton from 550-575 euros (about $ 605-633) per
ton of October 13;
Balilla, Centauro and similar paddies are out at 315-335 euros (about $ 347369) per ton, up from 290-310 euros (about $ 319-341) per ton of October
13.
Lido, Crono, Flipper and similar varieties are quoted 285-305 euros (about $
314-336), up from 265-285 euros (about $ 292-336) per ton of a week
prior.
Padano, Argo is out at 385-430 euros (about $ 424-474) per ton, unchanged
from a week prior.
Vialone Nano is quoted 515-540 euros (about $ 568-595) per ton, up from
465-490 euros (about $ 512-540) per ton from a week prior.
Carnaroli is quoted 650-685 euros (about $ 716-755) per ton, up from 590625 euros (about $ 650-689) per ton of one week prior.
Thaibonnet and similar varieties were indicated at 265-285 euros (about $
292-314) per ton, unchanged from a week prior.
Sant'Andrea is quoted 350-380 euros (about $ 385-419) per ton, up from
325-355 euros (about $ 358-391) per ton of October 13.
Luna Cl, Dardo and similar varieties are shown 285-305 ($ 314-336), up
from 265-285 euros (about $ 292-336) per ton of October 13.
Baldo is quoted 360-380 euros (about $ 397-426) per ton, up from 335-355
euros (about $ 369-391) per ton of one week prior.
Roma was quoted 370-400 euros (about $ 408-441) per ton, up from 350380 euros (about $ 385-419) per ton of October 13.
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Selenio is quoted 315-355 euros (about $ 347-391) per ton, up from 295335 euros (about $ 325-369) per ton of October 13.
Augusto is out at 305-325 euros (about $ 336-358) per ton, unchanged from
a week prior;
Loto and Nembo are quoted 295-325 euros (about 325-358) per
ton, unchanged from a week prior.
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The government of Thailand has approved the sale of 2 million tons of rotten
rice from the stockpiles to industries starting from November 2015, Reuters
quoted the Commerce Ministry Permanent Secretary.
"This rice is 2 million tonnes of rotten rice which humans and animals cannot
consume and it must be sold to the industrial sector only," said the Commerce
Ministry official. She assured that the Ministry would ensure that the rotten
stocks would not enter the markets for human and animal consumption.
The official noted that the Ministry is planning to sell the rotten rice at prices
below those of edible rice. However, she did not hint at the likely price that
could be fetched.Thailand is currently holding about 13.3 million tons of rice in
its stockpiles.