21st April, 2015 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

April 21, 2015
Daily Exclusive ORYZA Rice E-Newsletter

www.ricepluss.com
Volume 5, Issue I
Daily Exclusive
ORYZA Rice
Newsletter

www.ricepluss.com
Japan May Not Accept U.S. Demands on Rice

Import Quota in TPP Talks
Apr 20, 2015
Japan may not bend to the U.S.

demands over increasing its rice
import quota as part of the TransPacific Partnership (TPP) talks,
according
to
Bloomberg.Japan's
Economy Minister who met with the
U.S Trade Reprehensive on April 19
in Tokyo as part of a two-day meeting
ahead of the two leaders' meeting in
Washington on April 28, told reporters
that U.S. is pressing for an increase in
rice imports from the U.S. by about
215,000 tons, of which 175,000 tons is
aimed for table rice consumption and the remaining for food processing. We cannot accept all
the U.S. requests on rice imports. We will negotiate cautiously for a deal that could be accepted
by Japanese lawmakers, he was quoted as saying.
He noted that a decision could be taken in the interest of Japanese rice farmers. Japan is likely to
agree to increase the U.S. rice import quota by about 50,000 tons, a quarter of the U.S.
demand.However, last week, experts noted that Japan may propose to increase imports from the
U.S. by about 100,000 tons annually during the Japanese premier's visit to the U.S. this month.
The Minister expressed hope that the two leaders would come to amicable terms on the Japanese
farm and the U.S auto parts issues, which have been major hindrances in taking the TPP talks
ahead. Once Japan the U.S. complete the bilateral talks, Japanese Congress would pass the
Trade-Promotion Authority Bill, he said.Japan imported about 360,000 tons of rice from the U.S.
in FY 2013-14. Currently, Japan imports about 770,000 tons of rice under the annual minimum
market access (MMA) quota as per the World Trade Organization (WTO) obligations. The WTO
regulations require Japan to import half of the mandatory 770,000 tons from the U.S. The rice
imports above the MMA quota carry a prohibitive import tariff of around 778%.USDA estimates
Japan to produce around 7.7 million tons of rice and import around 700,000 tons of rice in MY
2014-15 (November - October) to meet annual consumption needs of around 8.15 million tons.

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India Exports 10.81 Million Tons of Rice in

First Eleven Months of FY 2014-15, Up 8.5%
from Last Year
Apr 20, 2015
India exported around 10.81 million tons of rice (including basmati and non-basmati) in the first
eleven months of FY 2014-15 (April - March), up about 8.5% from around 9.96 million tons
exported during the same period in FY 2013-14, according to provisional data released by the
Agricultural and Processed Food Products Export Development Authority (APEDA).
In value terms, Indias total rice exports have earned around Rs.43,722 crore (around $7.16
billion) during April 2014 February 2015, up about 2% from around Rs.42,733 crore (around
$7 billion) earned during the same period in FY 2013-14. In USD terms, value of rice exports
during the eleven-month period increased by about 2% y/y.

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India's basmati rice exports have declined about 4% to around 3.3 million tons in April 2014 February 2015 from around 3.44 million tons exported during the same period in FY 2013-14. In
value terms, basmati rice exports declined to about Rs.25,087 crore (around $4.12 billion) during
the first eleven months of FY 2014-15, down about 5% from around Rs.26,515 crore (around
$4.4 billion) earned in the same period in FY 2013-14. In USD terms, Indias basmati rice
exports declined by 6% y/y in April 2014 February 2015.India's basmati rice exports were
primarily impacted due to Iran's ban on rice imports since November 2014.
Indias non-basmati rice exports in April 2014 - February 2015 increased to around 7.51 million
tons, up about 15% from around 6.52 million tons recorded in the same period in FY 2013-14. In
value terms, non-basmati rice exports earned about Rs.18,635 crore (around $3 billion), up about
15% from around Rs.16,218 crore (around $2.67 billion) in the same period in FY 2013-14. In
dollar terms, non-basmati rice exports increased by 12%y/y during the ten-month period.
FAO Forecasts India 2015 Rice Exports to

Decline 18% y/y to 9.3 Million Tons
Apr 20, 2015
The UN's Food and Agriculture Organization (FAO) has forecasted India's 2015 rice exports to
decline about 18% to around 9.3 million tons from around 10.9 million tons exported in 2014
due to an estimated lower harvest in 2014.Assuming a good monsoon season and continued
government support to the rice sector, the FAO estimates the total paddy rice production for
2015 at around 158.2 million tons (around 106 million tons, basis milled), up about 2% from last
year's output of about 154.6 million tons (around 103.6 million tons, basis milled).
It forecasts the output from the 2014-15 secondary rabi rice crop at around 20.2 million tons
(around 13.5 million tons, basis milled), 11% down from around 22.69 million tons last year
(around 15.2 million tons, basis milled). Reduced water levels in major reservoirs due to weak
monsoons coupled with below-average rains in October and November over most of the country
delayed planting for winter rice crop, and is likely to affect the rabi rice output this year.
Harvesting of the rabi rice crop is going on and will complete in May.Rice prices in March
remained stable or decreased in most markets as downward pressure from the beginning of 2015
secondary season harvest. However, the price declines are offset by the ongoing government's
procurement program. The government aims to procure around 30.05 of rice in the 2014-15
marketing season (October - September).
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Madagascar Imports 200,000 Tons of Rice in

First Three Months of 2015
Apr 20, 2015
Madagascar has imported about 200,000 tons of rice in the first three months of 2015 to
compensate for a likely loss of expected output from cyclones that hit the major rice producing
regions of the country since January this year, according to local sources.The country's
Agriculture Minister told local sources that a series of cyclones, including tropical storm Chedza,
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Cyclone Fundi and Cyclone Haliba, from the beginning of this year have damages about 20,000
hectares of rice area in the country and the output is likely to decline by about 15-20% compared
to last year.
The Minister noted that the government had increased rice imports by about 50,000 tons from the
earlier planned volume to avoid a shortage.Madagascar imported around 363,423 tons of rice in
2014, down about 11% from around 410,373 tons imported in 2013 due to a rise in production,
according to local sources. Madagascar usually imports more rice in the lean season (September
- January). It imported around 140,000 tons of rice in the 2014 lean season and around 300,000
tons of rice in 2013 lean season. If the production declines, the government may have to further
increase imports in the lean season.
The island country in the Indian Ocean produced around 4.3 million tons of paddy rice in 2014,
up about 19% from around 3.6 million tons produced in 2013 due to well distributed rains in the
2013-14 cropping season.USDA estimates Madagascar to produce about 2.75 million tons of rice
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basis milled (around 4.3 million tons, basis paddy), and import around 350,000 tons in MY
2014-15 (May 2014 April 2015).
Thai Supreme Court Decides to Prosecute

Former Commerce Minister in Rice Pledging
Case; First Trial to Commence on June 29,
2015
Apr 20, 2015
A panel of Thailand's Supreme Court Judges has decided to accept the case filed by the Office of
the Attorney-General (OAG) against the former Commerce Minister and 20 other individuals for
their alleged corruption in government-to-government (G2G) rice deals with two Chinese
companies, according to local sources.The nine judge panel, which was convinced that the there
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was enough evidence to bring the case of trial, has announced that the first trial against the 21
individuals will commence on June 29, 2015. If found guilty, the 21 individuals, including the
former Commerce Minister, may face life imprisonments as well as a fine of up to 35.2 billion
baht (around $1.1 million).
Separately, the Thai National Legislative Assembly (NLA) will begin hearing in the
impeachment case against the former Commerce Minister, former Deputy Commerce Minister
and former Director-General of the Department of Foreign Trade on April 23, 2015, for their
alleged corruption in G2G rice deals with two Chinese companies.The Thai NLA impeached the
former Prime Minister on January 23, 2015 for encouraging corruption in the rice pledging
scheme introduced by her government in October 2011. The Supreme Court has decided to
prosecute her in the rice pledging case and the first hearing is scheduled for May 19, 2015.The
NACC advised the government to file a civil suit against the former PM as well as the 21
individuals to recover the money lost in the rice program, which the Finance Ministry claims to
be about 600 billion baht (around $18 billion).
Philippines First Quarter Paddy Output May

Be Lower Than Government Forecast of 4.59
Million Tons, Says BAS
Apr 20, 2015
The Philippines first quarter paddy rice output is likely to be below the government forecast of
around 4.59 million tons due to unfavorable weather conditions, according to the Bureau of
Agricultural Statistics (BAS), reports Reuters.The BAS estimates the country's Q1 paddy output
at around 4.47 million tons. It attributes the decline to a reduction in paddy rice acreage and a
drop in yield due to occurrence of typhoons, intense heat, insufficient water supply, incidence of
pests and diseases and strong winds.
However, the output is expected to be 3.9% higher than last year's first quarter output of around
4.31 million tons.USDA estimates Philippines MY 2014-15 (July - June) paddy rice production
at around 19.365 million tons (around 12.2 million tons, basis milled), up about 3% from around
18.822 million tons (around 11.86 million tons, basis milled) produced in the previous year. It
estimates the Philippines to import around 1.6 million tons of rice in 2015.

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Pakistan Rice Exports Increase Sharply in

March 2015
Apr 20, 2015
Pakistan's total exports, including basmati and non-basmati, increased sharply in March 2015
after declining in January and February.Pakistan exported around 472,357 tons of rice (including
basmati and non-basmati) in March 2015, up about 33% from around 355,747 tons exported in
February 2015, according to provisional data from the Pakistan Bureau of Statistics (PBS). In
terms of value, Pakistan's rice export earnings increased about 24% to around $215 million in
March 2015 from around $173.27 million earned in February 2015.

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Year-on-year, Pakistans exports increased about 40% from around 338,415 tons exported in
March 2014. In terms of value, they declined about 1% from around $217 million in March
2014.
Pakistan exported around 42,569 tons of basmati rice in March 2015, up about 14% from around
37,374 tons exported in February 2015, and down about 30% from around 61,249 tons exported
in March 2014. In terms of value, Pakistan's basmati rice exports earned $48.5 million in March
2015, up about 14% from around $42.4 million earned in February 2015, and down about 37%
from around $76.5 million earned in March 2014.Pakistan exported around 429,788 tons of nonbasmati rice in March 2015, up about 35% from around 318,373 tons exported in February 2015
and up about 55% from around 277,166 tons in March 2014. In terms of value, Pakistan's nonbasmati rice exports earned $166.4 million in March 2015, up about 27% from around $130.87
million earned in February 2015, and up about 19% from around $140.22 million earned in
March 2014.
Pakistan has exported around 3.09 million tons of rice (around 393,483 tons of basmati and around 2.7
million tons of non-basmati) in the first nine months of FY 2014-15 (July 2014 - June 2015), up about 4%
from around 2.97 million tons (around 479,751 tons of basmati and around 2.49 million tons of nonbasmati) exported during the same period in FY 2013-14. In terms of value, Pakistan's exports earned
around $1,569 million (around $406.65 million from basmati and around $1,163.2 million from nonbasmati) in July 2014 - March 2015, down about 6% from around $1,667 million (around $542.42 million
from basmati and around $1,124.6 million from non-basmati) earned during the same period in 2013-14
Philippines Domestic Rice Prices Show

Diverse Trends in March 2015
Apr 20, 2015
Average domestic rice prices in the Philippines showed diverse trends in March 2015, according
to data from the Philippines Bureau of Agricultural Statistics (BAS). While retail prices of both
well-milled rice (WMR) and regular-milled rice (RMR) declined, wholesale prices of WMR and
RMR increased.
In March 2015, average retail prices of WMR declined to around P42.28, slightly down from
around P42.61 per kilogram in February 2015 and up about 3% from around P41.09 per
kilogram in March 2014. Average wholesale prices of WMR increased to around P39.49 per
kilogram, up about 2% from around P38.54 per kilogram in February 2015 and up about 2%
from around P38.56 per kilogram in March 2014.
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Average retail prices of RMR declined to around P37.8 per kilogram, down about 1% from
around P38.29 per kilogram in February 2015 and unchanged from their year-ago levels.
Average wholesale prices of RMR increased to around P35.41 per kilogram, up about 1% from
around P35.02 per kilogram in February 2015 and down about 1% from around P35.83 per
kilogram in March 2014.
In terms of USD per ton (using historical exchange rates), average retail prices of WMR declined
to around $952 per ton in March 2015, down about 1% from around $965 per ton in February
2015. Average wholesale prices of WMR increased to around $889 per ton, up about 2% from
around $873 per ton in February 2015. Average retail prices of RMR declined to around $851
per ton, down about 2% from around $867 per ton in February 2015. Average retail prices of
RMR increased to around $797 per ton, slightly up from around $793 per ton in February 2015.
The average retail price of WMR in the Philippines increased to around P42.64 per kilogram in
January - March 2015, up about 6% from around P40.28 per kilogram during the same period in
2014, while the average wholesale price of WMR increased to around P39.09 per kilogram in
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January - March 2015, up about 3% from around P37.79 per kilogram during the same period in
2014.Average retail price of RMR increased to around P38.35 per kilogram in January - March
2015, up about 3.5% from around P37.05 per kilogram during the same period in 2014. Average
wholesale price of RMR increased to around P35.34 per kilogram in January - March 2015,
slightly up from around P35.08 per kilogram during the same period in 2014, the BAS says.
In terms of USD per ton (using historical exchange rates), the average retail price of WMR stood
at about $961 per ton in January - March 2015, up about 6% from around $901 per ton during the
same period in 2014. Average wholesale price of WMR increased to about $881 per ton in
January - March 2015, up about 9% from around $805 per ton during the same period in 2014.
Average retail price of RMR increased to about $864 per ton in January - March 2015, up about
4% from around $829 per ton during the same period in 2014. Average wholesale price of RMR
increased to about $797 per ton in January - March 2015, up about 1.5% from around $785 per
ton during the same period in 2014.
FAO Forecasts China 2015 Rice Imports at

2.7 Million Tons; Unchanged from Last Year
Apr 20, 2015
The UN's Food and Agriculture Organization (FAO) has forecasted China's 2015 rice imports at
around 2.7 million tons, similar to last year's above-average level. It forecasts total cereal imports
in the 2014-15 marketing year at all-time high of 23 million tons, up about 12% from 2013-14.
The FAO estimates Chinas 2014 paddy rice production at around 207 million tons (around 145
million tons, basis milled), slightly up from around 206.4 million tons last year (around 144.4
million tons, basis milled). The increase is attributed to a slight increase in area planted,
prompted by higher minimum purchase/support prices (MSP) and other government support
measures, including direct payments to farmers and subsidies for seed and machinery as well as
other agricultural inputs.Planting of the 2015 minor early rice crop, which is normally grown in
the southern parts of the country and accounts for about 16% of total rice production, is almost
complete. The FAO expects the total output from this crop at around 34.1 million tons (around
23.87 million tons, basis milled).
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Average prices of Japonica rice remained stable despite increased supplies from the ongoing
2014 harvest due to the government support measures and strong demand.China has imported
around 189,700 tons of rice in first two months (January - February) of 2015, down about 44%
from around 338,700 tons imported during the same period in 2014, according to data from
China Customs General Administration.USDA estimates China to produce around 144.5 million
tons of rice, basis milled, import around 4.4 million tons and export around 400,000 tons of rice
in MY 2014-15 (July - June).
Thailand Rice Exports May Decline 1% y/y

to 10 Million Tons in 2015 Amid Stiff
Competition and Falling Prices
Apr 20, 2015
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Thailand is targeting to export about 10 million tons of rice in 2015, Bloomberg quoted Thai
Commerce Minister as saying. He told reporters that Thailand exported around 2.7 million tons
of rice from January - mid-April.In the beginning of the year, Thailand hoped to export 11
million tons of rice this year after exporting a record 10.97 million tons in 2014. However, due to
a stiff competition with Vietnam, India and Pakistan as well as falling prices and demand,
Thailand has been experiencing a decline in exports for the last couple of months.
Exporters opined that buyers are postponing their purchase needs in hope of a further fall in
prices.The Thai government is currently holding over 17 million tons of rice in its stockpiles and
is planning to sell around 10 million tons of rice, including 6 million tons of good quality rice. It
is planning to sell about 4 million tons of low quality rice after August this year. The Thai
military government sold about 1.88 million tons of rice from six auctions raising around 25.58
billion baht (around $785.2 million) since it seized power in May 2014. It also reportedly sold
one million tons of rice under government-to-government contracts.
The government also delayed this year's third auction to avert downward pressure on already
falling rice prices. It is understood to be carefully evaluating markets to decide over the timing
for reopening bidding for its government stocks, according to local sources.Export prices of Thai
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5% rice currently stands at around $387 per ton, down about 5.6% from around $410 per ton in
the beginning of this year. Export prices of India 5% rice and Vietnam 5% rice declined about
3.8% and 5.2% to around $375 per ton and $360 per ton respectively since the beginning of this
year.
Thailand Rice Sellers Increase Some of Their

Quotes Today; Other Asia Rice Quotes
Unchanged
Apr 20, 2015
Thailand rice sellers increased their quotes for Hommali rice by about $5 per ton to around $895$905 per ton today. Other Asia rice quotes are unchanged today.
5% Broken Rice
Thailand 5% rice is indicated at around $380 - $390 per ton, about a $25 per ton premium on
Vietnam 5% rice shown at around $355 - $365 per ton. India 5% rice is indicated at around $370
- $380 per ton, about a $5 per ton discount to Pakistan 5% rice shown at around $375 - $385 per
ton.
25% Broken Rice
Thailand 25% rice is shown at around $355 - $365 per ton, about a $20 per ton premium on
Vietnam 25% rice shown at around $335- $345 per ton. India 25% rice is indicated at around
$345 - $355, about a $15 per ton premium on Pakistan 25% rice shown at around $330 - $340
per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $380 - $390 per ton. India parboiled rice is
indicated at around $365 - $375 per ton, about a $15 per ton discount to Pakistan parboiled rice
shown at around $380 - $390 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $320 - $330 per ton, about a $10 per ton
premium on Vietnam 100% broken rice shown at around $310 - $320 per ton.
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India's 100% broken rice is shown at around $275 - $285 per ton, about a $10 per ton discount
to Pakistan broken sortexed rice shown at around $285 - $295 per ton.
Global Rice Quotes

April 21st, 2015
Long grain white rice - high quality
Thailand 100% B grade 395-405
Vietnam 5% broken
355-365
India 5% broken
370-380
Pakistan 5% broken
375-385
Myanmar 5% broken
410-420
Cambodia 5% broken
435-445
U.S. 4% broken 480-490
Uruguay 5% broken
575-585
Argentina 5% broken
565-575
Long grain white rice - low quality

Thailand 25% broken
355-365
Vietnam 25% broken
335-345
Pakistan 25% broken
330-340
Cambodia 25% broken 410-420
India 25% broken
345-355
U.S. 15% broken
470-480
Long grain parboiled rice

Thailand parboiled 100% stxd
380-390
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Pakistan parboiled 5% broken stxd
380-390
India parboiled 5% broken stxd 365-375
U.S. parboiled 4% broken
555-565
Brazil parboiled 5% broken
570-580
Uruguay parboiled 5% broken NQ
Long grain fragrant rice

Thailand Hommali 92% 895-905
Vietnam Jasmine
485-495
India basmati 2% broken
NQ
Pakistan basmati 2% broken
NQ
Cambodia Phka Mails
810-820
320-330
Vietnam 100% broken 310-320
Brokens
Thailand A1 Super
Pakistan 100% broken stxd

Cambodia A1 Super
285-295
345-355
India 100% broken stxd 275-285
Egypt medium grain brokens
NQ
U.S. pet food
370-380
Brazil half grain NQ
All prices USD per ton, FOB vessel, oryza.com
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Vietnam Exports About 1.144 Million Tons of

Rice During January 1 April 13, 2015
Apr 20, 2015
Vietnam exported about 1.144 million tons of rice in January 1 - April 13, 2015, down about
35% from about 1.76 million tons of rice exported in first four months of 2014, according to data
from the Vietnam Food Association (VFA). Average rice export price so far in this year stands at
about $413 per ton (FOB), down about 5% per ton from about $435 per ton recorded in April
2014.During April 1-13, 2015, Vietnam exported about 238,582 tons of rice, down about 56%
from about 537,094 tons rice exported in full month of April 2014, and down about 50% from
about 480,490 tons rice exported in full month of March 2015. Average export prices in so far in
March stands at about $380 per ton, down about 14% from a year ago, and down about 4% per
ton from a month ago.
18

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April 21, 2015

Daily Exclusive ORYZA Rice E-Newsletter

Daily Exclusive ORYZA Rice E-Newsletter

Japan May Not Accept U.S. Demands on Rice

Japan may not bend to the U.S.

Daily Exclusive ORYZA Rice E-Newsletter

India Exports 10.81 Million Tons of Rice in

Daily Exclusive ORYZA Rice E-Newsletter

FAO Forecasts India 2015 Rice Exports to

Daily Exclusive ORYZA Rice E-Newsletter

Madagascar Imports 200,000 Tons of Rice in

Daily Exclusive ORYZA Rice E-Newsletter

Daily Exclusive ORYZA Rice E-Newsletter

Thai Supreme Court Decides to Prosecute

Apr 20, 2015

Daily Exclusive ORYZA Rice E-Newsletter

Philippines First Quarter Paddy Output May

Daily Exclusive ORYZA Rice E-Newsletter

Pakistan Rice Exports Increase Sharply in

Apr 20, 2015

Daily Exclusive ORYZA Rice E-Newsletter

Philippines Domestic Rice Prices Show

Daily Exclusive ORYZA Rice E-Newsletter

Daily Exclusive ORYZA Rice E-Newsletter

FAO Forecasts China 2015 Rice Imports at

Daily Exclusive ORYZA Rice E-Newsletter

Thailand Rice Exports May Decline 1% y/y

Daily Exclusive ORYZA Rice E-Newsletter

Daily Exclusive ORYZA Rice E-Newsletter

Thailand Rice Sellers Increase Some of Their

Daily Exclusive ORYZA Rice E-Newsletter

Global Rice Quotes

U.S. 4% broken 480-490

Long grain white rice - low quality

Vietnam 25% broken

Pakistan 25% broken

Cambodia 25% broken 410-420

India 25% broken

U.S. 15% broken

Long grain parboiled rice

Daily Exclusive ORYZA Rice E-Newsletter

India parboiled 5% broken stxd 365-375

U.S. parboiled 4% broken

Brazil parboiled 5% broken

Uruguay parboiled 5% broken NQ

Long grain fragrant rice

India basmati 2% broken

Pakistan basmati 2% broken

Cambodia Phka Mails

Vietnam 100% broken 310-320

Pakistan 100% broken stxd

India 100% broken stxd 275-285

Egypt medium grain brokens

U.S. pet food

Brazil half grain NQ

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

Daily Exclusive ORYZA Rice E-Newsletter

Vietnam Exports About 1.144 Million Tons of