13th June, 2014 Daily Exclusive ORYZA E-Newsletter by Riceplus Magazine

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TOP Contents - Tailored for YOU
Latest News Headlines
Oryza U.S. Rough Rice Recap - Prices Hold Steady as Futures Bounce Higher
Oryza Rice Currency Analysis for Today Currencies Little Changed
Oryza Afternoon Recap - Chicago Rough Rice Futures Rally as Market Looks to Recover from Recent Selloff;
Crude Continues to Surge as Tensions Mount in Middle East
South Korea Issues Tender to Purchase 4,039 Tons of Australia Rice
India Rice Prices to Stay Stable despite Poor Monsoons, Say Analysts
Oryza Overnight Recap - Chicago Rough Rice Futures Give Back Yesterday's Gains in Overnight Trading; Crude
Rallies on Uncertainty in Middle East
Thai Finance Ministry Raises $1.2 Billion Loan to Complete Rice Payments; Military Junta Sets up Panel to
Consider Alternatives to Rice Pledging Scheme
Italy Wants European Union to Stop Duty Free Rice Imports from Cambodia; Stresses for $237 per Ton Import
Tariff or Safeguard Clause
Philippines Agriculture Secretary Alleged of Striking "Midnight Deal" with Vietnam over 800,000 Ton Rice
Import
Asia Rice Quotes Unchanged Today
Costa Rica Rice Farmers Seek Curb on Rice Imports
Oryza Global Rice Quotes

News Detail
Oryza U.S. Rough Rice Recap - Prices Hold Steady as Futures Bounce Higher
Jun 12, 2014


As of today, old crop offers were unchanged near $15.55 per cwt fob farm (about $343 per ton) for June
shipment although most are still hoping to net close to $16.11 per cwt fob farm (about $355 per ton).Bids from
exporters could still be found unchanged near $15.50 per cwt (about $342 per ton) for June delivery while
smaller mills were still said to be bidding around $16.00 per cwt (about $353 per ton) for the same delivery
period and there were reports of at least one barge trading around $15.50 per cwt (about $342 per ton) for
prompt delivery.

In the meantime, today the USDA reported that cumulative net export sales for the week ending on June 5th,
totaled 33,600 tons, which was 7% lower than last week but 6% higher than the prior 4-week average. Increases
were reported for the following destinations including: 18,200 tons to Haiti, 4,000 tons to El Salvador, 3,900
tons to Mexico, 2,100 tons to Saudi Arabia, and 1,800 tons to Canada while decreased of 300 tons for
2014/2015 were reported for Jordon.U.S. rice exporters shipped 89,900 tons, which was 27% higher than the
previous week and 37% higher than the prior 4-week average. The primary destinations included: 29,000 tons to
Mexico, 28,400 tons to Colombia, 13,300 tons to Japan, 10,700 tons to Saudi Arabia, and 3,600 tons to Canada.
Tags: U.S. rice prices; U.S. rice market

Oryza Rice Currency Analysis for Today Currencies Little Changed
Jun 12, 2014
U.S. dollar index was down -0.28% from the open today, when it traded at 80.563 at the close.

Euro was stronger +0.26% by the close, trading around 1.3567 by end of day, after trading between an intraday
high of 1.3572 and low of 1.3512.

Thai baht was stronger +0.09%, trading at 32.450 at the close of business.

Indian rupee was stronger +0.04% at 59.2550.

Brazilian real was stronger +0.12% at the close of trading today, trading at 2.2309 reais per dollar.

Pakistan rupee was +0.16% stronger at 98.3855.

Vietnamese dong was almost unchanged at 21220.

Mexican peso was stronger +0.23% today, when it traded at 12.9783 pesos per dollar by the close of business.

Chinese yuan was stronger +0.14% at 6.2191.

Argentine peso was weaker -0.02% at 8.1307 pesos per dollar.


Oryza Afternoon Recap - Chicago Rough Rice Futures Rally as Market Looks to
Recover from Recent Selloff; Crude Continues to Surge as Tensions Mount in
Middle East

Jun 12, 2014
Chicago rough rice futures for Jul delivery settled 29.5 cents per cwt (about $7 per ton) higher at $14.420 per
cwt (about $318 per ton). Rough rice futures made a big step towards an attempt to recover from a recent selloff
that saw prices fall nearly $1.50 per cwt (about $33 per ton) in a matter of weeks. Todays gains appears to
confirm that a near-term bottom has indeed been put in place near $14.000 per cwt (about $309 per ton) as the
market managed to rocked through nearby resistance noted at $14.360 per cwt (about $317 per ton) provided by
the 10-day moving average. Another close higher tomorrow will be seen as a firm indicator that a reversal is in
fact underway and could trigger additional buying interest.

The futures market remains at a steep discount to cash prices and thus additional gains will likely be seen as we
move towards the expiration of the front month contract. The other grains finished the day mostly lower as Soy
products slipped over 2%; soybeans closed about 2.1% lower at $14.1525 per bushel; wheat about 0.7% lower
at $5.8525 per bushel, and corn finished the day about 0.7% higher at $4.4400 per bushel.U.S. stocks declined
on Thursday after retail sales figures disappointed and as investors monitored tension in Iraq and the resulting
rise in energy costs. Brent futures rose above $110 a barrel and crude hovered at $106 a barrel, with futures
lately up $1.56, or 1.5%, at $105.97 a barrel, amid a Sunni militant uprising in Iraq that had rebels controlling
two cities and the Wall Street Journal reporting that Iran was sending elite troops to Iraq to help it fight the
rebellion.

Domestically, retail sales rose less than expected in May, according to Commerce Department data, which had
sales up 0.3% last month and the prior month revised higher to 0.5%. The Dow Jones Industrial Average fell
100 points. The S&P 500 declined 6.89 points, or 0.4%, to 1,937, with utilities hardest hit and energy the sole
industry group climbing among its 10 major sectors, as energy usurped utilities as the top performing sector,
year to date. The Nasdaq dropped 15.10 points, or 0.4%, to 4,316.83. Gold is trading about 1% 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.Wednesday, there were 1,063 contracts traded, down from 1,285 contracts traded on Tuesday.
Open interest the number of contracts outstanding on Wednesday increased by 72 contracts to 9,153.
Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures

South Korea Issues Tender to Purchase 4,039 Tons of Australia Rice
Jun 12, 2014
South Korea has issued a tender on June 3, 2104 to puchase 4,039 tons of Australian origin Jungripjong Tome
medium brown rice, according to the state-run Korea Agro-Fisheries & Food Trade.The tender is for rice that is


part of 73,476 tons, which South Korea is planning to purchase. Last week, the state-run grain buying company
passed on offers to buy 69,437 tons.

Tags: South Korea rice tenders
India Rice Prices to Stay Stable despite Poor Monsoons, Say Analysts
Jun 12, 2014
Analysts are expecting India wholesale rice prices to remain stable in 2014 despite below-normal monsoon as
predicted by the Indian Meteorological Department (IMD), as the government has enough rice stocks, according
to Economic Times.They say India's current buffer stock of rice will help the new government in controlling
prices. According to data from the Food Corporation of India (FCI), India's rice stocks in the Central Pool stand
at around 28.03 million tons (including 11.361 million tons of milled rice) as on June 1, 2014, against a buffer
norm of about 10 million tons.

Planting for the kharif rice crop (July - December) is expected to be delayed due to a weak monsoon and
thereby rice production for MY 2014-15 may be impacted to a certain extent. Average monthly wholesale rice
prices in India stood at around Rs.2,872 per quintal (around $484 per ton) in May 2014, down about 4% from
around Rs.2,984 per quintal (around $503 per ton) in April 2014, and up about 7% from an year ago levels of
around Rs.2,675 per quintal (around $450 per ton), according to official sources in India.Average export prices
of India 25% broken rice stood at around $384 per ton in May 2014, slightly up from about $381 per ton in
April 2014, and down about 8% from an year ago level of around $418 per ton.

Tags: India rice prices, El Nio
Oryza Overnight Recap - Chicago Rough Rice Futures Give Back Yesterday's Gains
in Overnight Trading; Crude Rallies on Uncertainty in Middle East
Jun 12, 2014
Chicago rough rice futures for Jul delivery were paused 9.5 cents per cwt (about $2 per ton) lower at $14.030
per cwt (about $309 per ton) as of 8:45am Chicago time. The other grains are seen mostly higher this morning
ahead of floor trading in Chicago: soybeans are currently seen about 0.4% higher, wheat is paused 0.2% higher,
and corn is noted about 0.1% lower. U.S. stock index futures fell slightly on Thursday after retail sales figures
disappointed. Sales rose less than expected in May, according to Commerce Department data. Other economic
reports had the number of Americans filing new claims for jobless benefits unexpectedly rising last week,
although not enough to alter the view of a labor market that is picking up steam.

And, the Labor Department reported import prices rose 0.1% last month after declining 0.5% in April. The
Treasury will auction $13 billion in 30year notes, taking its weekly coupon-bearing debt issuance up to $62


billion. Uncertainty ended broke Wall Street's record rally on Wednesday, with the Dow losing more than 100
points. Factor cited for the pullback included the World Bank's lowering of its global growth outlook and fears
of an upcoming U.S. interest rate hike. U.S. stock index futures are currently trading about 0.1% lower, gold is
currently trading about 0.3% higher, crude oil is seen trading about 1.8% higher, and the U.S. dollar is
currently trading about 0.1% lower at 8:45am Chicago time.

Thai Finance Ministry Raises $1.2 Billion Loan to Complete Rice Payments; Military
Junta Sets up Panel to Consider Alternatives to Rice Pledging Scheme
Jun 12, 2014
The Thai Finance Ministry has raised three-year loans of about 40 billion baht (around $1.2 billion) to complete
payments under the rice pledging scheme, which has been abandoned since February 28, 2014, due to lack of
funds with the government to run the scheme, reports Reuters.Three banks - Government Savings Bank (GSB),
Bank of Ayudhaya and Bank of Tokyo-Mitsubishi UFJ - won the loan bid conducted today with average annual
interest rate of 2.2705%, the Head of the Finance ministry's Public Debt Management Office (PDMO) was
quoted as saying. He told reporters that the interest rate was less than the yield of 2.46% on three-year
government bonds.

While the state-run GSB will lend 20 billion baht (around $615 million), Bank of Ayudhaya and Bank of
Tokyo-Mitsubishi UFJ will led 10 billion baht (around $307 million) each.The Ministry will have to return 40
billion baht (around $1.2 billion) to the Bank of Agriculture and Agricultural Cooperatives (BAAC), which
started off making payments from its reserves after the military junta, took over on May 22, 2014. Later the
Finance Ministry raised 50 billion baht (around $1.5 billion) in loans to make payments to farmers. On the day
the military junta took over, total payments to be made to farmers stood at 90 billion baht (around $2.77
billion).

Meanwhile, the NCPO has set up a panel to work on alternatives to rice pledging scheme, according to local
sources. The panel will come up with a plan considering the various suggestions by the stakeholders in
Monday's meeting with the NCPO. Suggestions included subsidies for chemical fertiliser and pesticides, a
welfare scheme for farmers, and cheap land rental fees for landless farmers, according to the local sources.

Tags: Thailand rice production, Thailand rice exports
Italy Wants European Union to Stop Duty Free Rice Imports from Cambodia;
Stresses for $237 per Ton Import Tariff or Safeguard Clause
Jun 12, 2014


In an attempt to support national rice growing sector, Italy seems to be against duty free import of rice by the
European Union (EU) from Cambodia, according to an Italian website www.risoitaliano.eu.Italy is particularly
concerned of preferential rice imports by the EU, under the EU Generalized Scheme of Preferences (GSP)
Regulation, which says "Import Everything but Arms", from Cambodia. Italy is planning to submit a report to
the European Union about the consequences of duty free imports on local production and the EU rice sector.
Tentative contents of the report have been published on the Italian website.

In the report, Italy will say that the duty free import clause with Cambodia is making Italian rice, which costs
around 646 (around $874) per ton, uncompetitive versus the Cambodian rice, which costs 438 (around $593)
per ton. According to a study by the Association of Graduates in Agriculture of the Province of Vercelli, Italian
producers cannot reduce this competitive gap because of high production costs. Italian producers incur a cost of
322 (around $436) per ton and cannot afford to sell at low prices in order to compete with the cheap
Cambodian rice.
Italy says in the report that EU should apply a n import tariff of 175 (around $237) per ton on Cambodian rice
so that its cost would increase to 623.28 (around $844), and the competitive gap reduces significantly.

Alternately, Italy is stressing the EU on adopting a safeguard clause on Cambodian rice imports that would
protect competitiveness of the locally produced rice.
Italy also stated in the report that rice farmers in the EU are facing difficulty in choosing the appropriate rice
varieties and ideal rice acreage for each variety. Also owing to increased milled rice imports from Cambodia,
local milling industry is shedding off jobs, which could be dangerous to the region's economy in coming years.

Tags: EU rice production, EU rice imports

Philippines Agriculture Secretary Alleged of Striking "Midnight Deal" with Vietnam
over 800,000 Ton Rice Import
Jun 12, 2014
The Philippines Agriculture Secretary has been alleged of striking a "midnight deal" with Vietnam's state-
owned exporting company VINAFOOD II in April this year over handing them contract to supply 800,000 tons
of 15% broken white rice between May and August this year, according to local sources.Based on a complaint
from Metro Manila Vendor's Association (MMVA), the Office of the Ombudsman questioned the Agriculture
Secretary over his alleged involvement in the Vietnam rice import deal. The MMVA alleged that the
Agriculture Secretary and the former National Food Authority (NFA) Chief facilitated "a deal that would pay
them handsomely in illegal kickbacks".

The complaint stated that the freightage rate of the deal was struck at around $54 per ton, about $30 per ton
above the prevailing market price of $24 per ton, and that the two accused embezzled nearly P1.048 billion


(around $24 million) using an exchange rate of P45 per dollar. The complaint also noted that the timing of the
deal in April, when the harvest was at its peak, was unjustified.The Agriculture Secretary is also accused for
importing around 205,700 tons of rice in May 2013 from Vietnam, a deal which is alleged to be overpriced by
around P457.2 million (around $10.4 million).

Tags: Philippines Rice Production, Philippines rice imports
Asia Rice Quotes Unchanged Today
Jun 12, 2014
Asia rice sellers kept their quotes mostly unchanged today.

5% Broken Rice

Thai 5% rice (of new crop) is quoted at around $380 - $390 per ton, about $25 per ton lower than Viet 5% rice
quoted at around $405 - $415 per ton. Indian 5% rice is quoted at around $435 - $445 per ton, about $10 per
ton lower than Pak 5% rice quoted at around $445 - $455 per ton.

25% Broken Rice

Thai 25% rice of the old crop is quoted at about $350 - $360 per ton, about $15 per ton lower than Viet 25%
rice quoted at around $365 - $375 per ton. Indian 25% rice is quoted at around $390 - $400 per ton, about $5
per ton lower than Pak 25% quoted at around $395 - $405 per ton.

Parboiled Rice

Thai parboiled rice of the old crop is quoted at around $420 - $430 per ton. Indian parboiled rice is quoted at
around $405 - $415 per ton, about $30 per ton lower than Pak parboiled rice quoted at around $435 - $445 per
ton.

100% Broken Rice

Thai broken rice, A1 Super, of the old crop is quoted at around $310 - $320 per ton, about $20 per ton lower
than Viet broken rice quoted at around $330 - $340 per ton. Indian broken sortexed rice is quoted at around
$310 - $320 per ton, about $15 per ton lower than Pak broken sortexed rice quoted at around $325 - $335 per
ton.
Tags: India rice prices, Thailand rice prices, Vietnam rice prices

Costa Rica Rice Farmers Seek Curb on Rice Imports


Rice farmers of Costa
Rica led by the National
Assembly of Rice
Producers (NARP) have
urged the government to
curb rice imports in order
to protect local farmers,
according to local
sources. The President of
NARP told local sources
that local rice producers
have been facing difficulty
in selling their produce
because of cheap milled
rice imports from
Argentina, Brazil and
Uruguay. He noted that
local rice has become
uncompetitive versus the
imported rice and farmers
are losing interest in
cultivating rice.This is not
the first time the Costa
Rican rice farmers have
urged the government to
curb rice imports. Earlier
also they complained that
the government was
storing their rice in
warehouses while
purchasing foreign rice for local consumption.In the beginning of this year, the Costa Rican government
considered introducing a safeguard measure on imports of rice from Argentina and Uruguay. However, it did
not initiate any measure so far. The Minister of Economy, Industry and Trade stated that the government is
evaluating the need for applying a safeguard measure and would take a decision after considering all relevant
data from the National Association of Manufacturers of Rice Sector (ANINSA). He added that the decision is
not a politically motivated one but has to be technically justified.The National Assembly of Rice (Conarroz)
stated that private entrepreneurs imported around 15,710 tons of rice from Argentina and Uruguay in 2013,
nearly 3.5 times of around 4,145 tons imported in 2012.USDA estimates Costa Rica to produce about 145,000
tons of rice and import about 100,000 tons of rice in MY 2013-14 (October 2013 - September 2014) to meet a
consumption need of about 250,000 tons. USDA maintains same estimates for MY 2014-15 as well.


Oryza Global Rice Quotes
June 12th, 2014
Long grain white rice - high quality
Thailand 100% B grade 395-405
Vietnam 5% broken 405-415
India 5% broken 435-445
Pakistan 5% broken 445-455
Cambodia 5% broken 435-445
U.S. 4% broken 575-585
Uruguay 5% broken 625-635
Argentina 5% broken 620-630
Long grain white rice - low quality
Thailand 25% broken 350-360
Pakistan 25% broken 395-405
Cambodia 25% broken 405-415
India 25% broken 390-400
U.S. 15% broken 550-560
Long grain parboiled rice
Thailand parboiled 100% stxd 420-430
Pakistan parboiled 5% broken stxd 435-445
India parboiled 5% broken stxd 405-415
U.S. parboiled 4% broken 660-670
Brazil parboiled 5% broken NQ
Uruguay parboiled 5% broken NQ
Long grain fragrant rice
Thailand Hommali 92% 950-960
Vietnam Jasmine 550-560
India basmati 2% broken NQ
Pakistan basmati 2% broken NQ
Cambodia Phka Malis 860-870
Brokens
Thailand A1 Super 310-320
Pakistan 100% broken stxd 325-335
Cambodia A1 Super 350-360
India 100% Broken stxd 310-320
Egypt medium grain brokens NQ
U.S. pet food 470-480
Brazil half grain NQ
Medium grain milled
U.S. Calrose 4% broken 1070-1080

Egypt medium grain 6% NQ

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

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

13th June, 2014 Daily Exclusive ORYZA E-Newsletter by Riceplus Magazine

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