Chicago rough rice futures settled 15 cents higher on light buying following a technical turn in the market late last week. U.S. stocks rallied as voting in Crimea passed without violence and economic reports showed growth in manufacturing and industrial output. Vietnam exported 787,786 tons of rice from January to March 13, down 46% from the same period last year, with average prices down 3% to $430 per ton. Brazil offered the lowest price in Iraq's tender to buy 30,000 tons of rice from the U.S. and South America.

1. Oryza Afternoon Recap – Chicago Rough Rice Futures
Begin the Week on Positive Note
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Mar 17, 2014
Chicago rough rice futures for May delivery settled 15 cents per cwt (about
$3 per ton) higher at $15.505 per cwt (about $342 per ton). Rough rice
futures finished sharply higher today on light follow though buying following
a technical turn in the market late last week. The bulls managed to push
prices beyond a firm layer of resistance noted in the $15.450-$15.500 per
cwt (about $341-$342 per ton) range provided by the 20-day and 50-day
moving averages. Today’s move has returned the market to technically
bullish territory as prices managed to close above the 20-day moving
average. The other grains finished with mixed results today; soybeans
closed about 0.2% higher at $13.8850 per bushel; wheat finished about
1.9% lower at $6.8725 per bushel, and corn finished the day about 1.4%
lower at $4.8600 per bushel.
U.S. stocks rallied on Monday, with the Dow industrials rebounding after a
five-day losing streak, as the voting in Crimea passed without violence and
after economic reports had U.S. manufacturing output jumping the most in
six months in February. On Monday, President Barack Obama imposed
sanctions against Russian officials after voters in Crimea on Sunday
endorsed separating from Ukraine to join Russia. The U.S. announcement
came after the European Union announced travel bans and asset freezes on
21 people. Economic reports had U.S. industrial output rising in February; up
0.8%, and better than the 0.1% rise anticipated by economists polled by
Reuters. And, the March Empire State Factory Index climbed to 5.61 in
March after a reading of 4.48 the prior month. Stocks maintained gains after
a monthly measure of home builder confidence rose a tepid 1 point to 47 in
March, with the latest reading still below 50, the line between positive and
negative on the survey released by the National Association of Home
Builders. After a 204-point jump, the Dow Jones Industrial Average was
lately up 160.68 points, or 1%, to 16,226.35. The S&P 500 added 16.13
points, or 0.9%, to 1,857.26, with technology leading gains that included all
10 of its major industry groups. The Nasdaq climbed 40.96 points, or 1%, to
4,286.35. Gold is trading about 0.8% lower, crude oil is seen trading about
0.9% lower, and the U.S. dollar is seen trading about 0.1% lower at
about 1:00pm Chicago time.

2. Friday, there were 287 contracts traded, down from 309 contracts traded on
Thursday. Open interest – the number of contracts outstanding – on Friday
decreased by 4 contracts to 7,998.
Tags:
chicago rough rice futures, U.S. rice prices, U.S. rice market
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Oryza U.S. Rough Rice Recap – Cash Prices Continue
to Hold Steady, Analysts are Hopeful About Iraq
Tender
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Mar 17, 2014
As of today, old crop offers could still be found $15.55-$16.11 fob farm
(about $343-$355 per ton) for nearby shipment however as you get closer
to May and June offers increase substantially. Meanwhile, there were 59 new
receipt registrations late on Friday which brought the total amount of
receipts on the exchange to 399 (36,309 tons).
Bids from larger mills increased today to around $15.50 per cwt (about $342
per ton) for March-April delivery while bids for exporters were unchanged
near $15.55 per cwt (about $343 per ton), for the same delivery period, and
although there are still reports of smaller mills bidding around $16.10-
$16.25 per cwt (about $355-$358 per ton) for prompt delivery.
In other news, many analyst are hopeful that the U.S. will get in on part of
the action of the most recent Iraqi tender despite being more than $15.00
per ton greater than the most attractive offer given that the U.S. decreased
their offer by close to $30 per ton from their offer on the last tender coupled
with the fact that there are logistical issues facing other origins offering on
this tender.
Tags:
U.S. rice prices, U.S. rice market
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prices-continue-hold-steady-analysts-are-hopeful#sthash.nmDzDLQL.dpuf
Egypt’s Plan to Accept Imported Rice for Subsidy
Program May Free Up Expensive Rice for Exports

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Mar 17, 2014
The Egypt government will accept offers to buy imported rice for its food
subsidy program in the next local tender by the General Authority for Supply
Commodities (GASC), according to Reuters.
Egyptians traditionally consume medium grain rice rather than long grain
rice. However, medium grain rice is more expensive. The government buys
medium grain rice for around $420 per ton and sells it in the domestic
market for around $220 per ton under the subsidy program, compared to
export prices of around $900 per ton, according to Reuters. Sources say that
the move by the government to accept imported rice for the subsidy
program is a test to see the acceptability of imported long grain rice. It may
help the government to allow exports of the more expensive medium grain
rice grown in Egypt in future, say sources.
Egypt has an exportable surplus of around 800,000 – 850,000 tons of rice,
but rice exports are banned to help control prices and to ensure supplies for
the country’s subsidy program. Recently, Egypt’s new supplies minister said
that there is a demand to resume exports to help revive the country’s
economy and to prevent illegal rice exports.
Tags:
Egypt rice exports, Egypt rice export ban
- See more at: http://oryza.com/news/rice-news/egypt%E2%80%99s-plan-accept-imported-rice-
subsidy-program-may-free-expensive-rice-exports#sthash.IhhE3EsC.dpuf
Japan Announces Tender to Buy 32,753 Tons of Rice
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Mar 17, 2014
Japan announced a tender for March 20 to buy 32,753 tons of non-glutinous
milled long grain rice, including:
6,000 tons of Thailand origin
26,753 tons of global origin
The rice must be shipped in July-August.
Tags:
Japan rice tender

4. - See more at: http://oryza.com/news/tenders/japan-announces-tender-buy-32753-tons-
rice#sthash.DQIiJBi9.dpuf
Vietnam Exports 787,786 Tons of Rice in January 1 –
March 13, 2014
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Mar 17, 2014
Vietnam exported about 787,786 tons of rice during January 1 – March 13,
2014, down about 46% from about 1.45 million tons of rice exported during

5. the first three months of 2013, according to the Vietnam Food Association
(VFA). Average export price during January 1 – March 13, 2014 stands at
about $430 per ton (FOB), down about 3% from about $442 per ton
recorded during January 1 – March 31, 2013.
Vietnam exported about 152,283 tons of rice in March 1- 13, 2014, down
about 78% from about 706,483 tons rice exported in full month of March
2013, and down about 54% from about 330,501 tons rice exported in
February 2014. Average export price in March 2014 so far stands at about
$429 per ton, which is down about 2% from year ago levels and down about
4% from February 2014.
Vietnam's rice exports during March 1-13, 2014 include: 78,313 tons of 4%
- 10% broken rice (about 51.4% of total rice exports); 29,722 tons of
aromatic rice (about 19.5% of total rice exports); 19,806 tons of Nep
(glutinous) rice (about 13% of total rice exports); and 12,750 tons of 25%
broken rice (about 8.4% of total rice export so far in March 2014).
Asia is the major destination for Vietnam rice so far in March 2014,
accounting for about 136,816 tons or almost 90% of Vietnam’s total rice
exports in the month. Countries in the Americas account for about 8,129
tons of rice exports (equivalent to about 5% of total rice exports so far in
March). Vietnam also exported 3,100 tons of rice to Africa, about 2,100 tons
of rice to Europe, about 1,913 tons of rice to the Middle East and about 225
tons of rice to Australia so far this month, the VFA says.
Tags:
Vietnam rice exports
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%E2%80%93-march-13-2014#sthash.s3bnssYO.dpuf
Oryza Rice Currency Analysis for Today – Currencies
Little Changed; Mexico Peso Falls 0.5%
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Mar 17, 2014
U.S. dollar index was down -0.08% from the open today, when it traded at
79.384 at the close.
Euro was stronger +0.06% by the close, trading around 1.3923 by end of
day, after trading between an intraday high of 1.3948 and low of 1.3879.
Thai baht was stronger +0.17%, trading at 32.226 at the close of business.
Indian rupee was unchanged at 61.1900.

6. Brazilian real was -0.07% weaker at the close of trading today, trading at
2.3482 reais per dollar.
Pakistan rupee was -0.07% weaker at 99.0950.
Vietnamese dong was +0.04% stronger at 21093.
Mexican peso was stronger +0.32% today, when it traded at 13.1681 pesos
per dollar by the close of business.
Chinese yuan was weaker -0.45%, trading at 6.1775.
Argentine peso was weaker -0.29% at 7.9249 pesos per dollar.
Tags:
foreign exchange rates
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currencies-little-changed-mexico-peso-falls-05#sthash.9bA80UTz.dpuf
Vietnam Hopes to Export 4.27 Million Tons of Rice by
May 2014
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Mar 17, 2014
Vietnam's Ministry of Industry and Trade (MOIT) is targeting rice exports to
reach around 4.27 million tons by May 2014, and says that lower export
prices will help boost rice exports in the next few months, according to local
sources.
The MOIT says that the government has signed contracts to export about
one million tons of rice until May 2014. It is also keen to increase exports to
China this year and is planning to export rice to China via land borders to
curb the illegal exports through the borders. Illegal rice exports through
borders in the first two months of this year are three times the legal exports
to China, according to the MOIT.
Last week, the Vietnam Food Association (VFA) lowered the minimum export
price (MEP) for low grade rice (25% - 100% brokens) to $355 per tons from
the previous floor price of $365 per ton to help Vietnamese rice remain
competitive against Thai rice, and with an eye on the 800,000 tons rice
tender that the Philippines may announce soon.
The VFA says that Vietnam lost many contracts in February 2014 due to its
high price range of $405-$420 per ton. Vietnamese exporters have cut

7. prices not to lose any more contracts, adds the VFA. Exporters may suffer
losses due to the price cut but Vietnamese rice can now compete with that of
Thailand, India and Pakistan, it said. The current export price of Vietnamese
rice is lowest since 2013, according to the VFA. Vietnam seems to be willing
to take losses now to gain or maintain market share; however, dropping
prices too low, to below profitability, may backfire, causing producers to
reduce rice production in the future, something that could send domestic
prices higher later on, say sources.
Vietnam exported about 787,786 tons of rice between January 1 and March
13, 2014, down about 46% from about 1.5 million tons of rice exported
during the first three months of 2013, according to the VFA. Average export
price (FOB) during the period stands at $430 per ton, which is down about
3% from about $442 per ton recorded between January 1 and March 31,
2013. The USDA estimates Vietnam to export about 7.5 million tons in 2014,
up about 10% from an estimated 6.8 million tons in 2013.
Tags:
Vietnam rice exports, Vietnam rice prices
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2014#sthash.sOYwU8F5.dpuf
Pakistan Rice Exporters Face Losses Due to Sharp
Appreciation of Rupee Against USD
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Mar 17, 2014

8. Pakistan rice exporters have lost millions of rupees in the last few weeks due
to the sharp appreciation of the rupee against the US dollar since February
28, 2014, according to the Express Tribune.
The Pakistan rupee has appreciated by about 6% from around Rs.104.3 per
dollar to around Rs.97.96 between March 1 and March 17, 2014. The State
Bank of Pakistan says the appreciation is due to an inflow of around $523
million into the country in the form of Foreign Direct Investment (FDI)
during the first seven months of this fiscal year 2013-14 (July – June).
Selling pressure on dollar is adding to its depreciation against the Pakistani
rupee.
Pakistan rice exporters say their shipments could decline if the rupee
continues to appreciate against the dollar. Several exporters had booked
export orders at Rs.107 per USD dollar in December, 2013 but when receipts
arrive, they would be exchanged at Rs.97 against the dollar, which suggests
a loss of about $130 to $135 per ton. Exporters say they could lose buyers if
they increase prices to recoup losses on account of the fall in dollar value. At

9. the old exchange rate, Pakistan rice exporters were selling basmati rice to
international buyers in the range of $1,300 to $1,350 per ton, according to
local sources.
Rice exporters have temporarily suspended their activities since the
beginning of March 2014 and are waiting for the rupee-dollar exchange rate
to stabilize. They have urged the government to intervene in the foreign
exchange market and evolve a strategy to stabilize the rupee at a rational
level.
According to data from the Pakistan Bureau of Statistics, Pakistan's total rice
exports (including basmati and non-basmati) during the first seven months
of the current fiscal year stood at about 1.76 million tons, down about 1.4%
from about 1.79 million tons during the same period in the previous fiscal
year.
Tags:
Pakistan rice exports, Pakistan rupee
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appreciation-rupee-against-usd#sthash.HSgUGQng.dpuf
Brazil Rice Lowest Offer in Iraq Rice Tender for 30,000
Tons
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Mar 17, 2014
Brazil origin rice was offered the lowest in the international tender from Iraq
to buy at least 30,000 tons of long grain rice from the U.S. and South
America which closed this week.
According to Reuters, Brazil origin rice was offered lowest at $703 per ton
c&f free out (ciffo). Argentine rice was offered lowest at $717 per ton ciffo,
Uruguay rice was also offered at $717 per ton ciffo, and U.S. rice was
offered lowest at $718.25 per ton ciffo.
Tags:
Iraq rice tender
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tons#sthash.tsBFlT0A.dpuf
Thailand Rice Sellers Lower Some of Their Quotes;
Vietnam Rice Sellers Increase Most Their Quotes
Today

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Mar 17, 2014
Thailand rice sellers lowered their quotes for 5% broken rice by about $5 per
ton to about $400 - $410 per ton today. Vietnam rice sellers increased most
of their quotes by about $5 - $10 per ton. Pakistan rice sellers kept their
quotes mostly unchanged. India rice sellers are out today due to a national
holiday.
5% Broken Rice
Thai 5% rice (of new crop) is quoted around $400 - $410 per ton, down
about $5 per ton from Friday and about a $15 per ton premium over Viet
5% rice shown around $385 - $395 per ton, up about $10 per ton from
Friday.
Indian 5% rice was last quoted around $420 - $430 per ton, about a $20 per
ton premium over Pak 5% rice quoted around $400 - $410 per ton.
25% Broken Rice
Thai 25% rice of the old crop is quoted about $350 - $360 per ton, about a
$5 per ton premium over Viet 25% rice shown around $355 - $365 per ton,
up about $5 per ton from Friday.
Indian 25% rice was last quoted around $360 - $370 per ton, about a $5 per
ton premium over Pak 25% rice quoted around $355 - $365 per ton.
Parboiled Rice
Thai parboiled rice of the old crop is quoted around $405 - $415 per ton.
Indian parboiled rice was last quoted around $405 - $415 per ton, about $15
per ton discount to Pak parboiled rice quoted around $420 - $430 per ton.
100% Broken Rice
Thai broken rice, A1 Super, of the old crop is quoted around $305 - $315 per
ton, about a $30 per ton discount to Viet broken rice shown around $335 -
$345 per ton, up about $5 per ton from Friday.
Indian broken sortexed rice was last quoted around $300 - $310 per ton,
about a $30 per ton discount to Pak broken sortexed rice quoted around
$330 - $340 per ton.
Tags:
Asia rice quotes, India rice quotes, Pakistan rice quotes, Vietnam rice quotes, Thailand rice quotes
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Thailand Government Sells Packaged Rice to Raise
Funds to Pay Rice Farmers
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Mar 17, 2014
Thailand's Ministry of Commerce has launched the "Thai Rice Helps Thai
Farmers" campaign under which it aims to sell rice packed in bags to raise
funds to help pay farmers.
According to local sources, the commerce ministry is planning to sell about
2,000 tons of rice in 5-kilogram bags, 15-kilogram packs and 50-kilogram
packs mostly to hospitals, government offices and private organizations. The
program is aimed to raise funds quickly to pay farmers, according to the
Deputy Commerce Minister.
Meanwhile, rice exporters in Thailand are worried about plunging prices. On
Friday, the prices of common grade 5% Thai white rice declined to around
$410 per ton, down about 2% from previous week's $420 per ton. "The Thai

12. government said clearly that it will try to sell more and more rice to get
money. The market has factored that in and buyers have not rushed to buy,"
said the President of the Thai Rice Exporters Association (TREA).
Last week, Thailand government sold about 517,000 tons of rice in a direct
auction and another 730,000 tons of rice to exporters. It has scheduled a
sale of about 300,000 tons on March 26, 2014 through the Agricultural
Futures Exchange of Thailand (AFET). Local sources say the government is
keen to sell the same amount of rice from its stockpiles every month.
Today, the Deputy Prime Minister and the Commerce Minister will meet to
review the Ministry's strategy to sell the stockpiled rice. The Ministry will
seek Cabinet's approval to extend the Memorandum of Understanding (MoU)
with the Philippines, which will entitle Thailand to participate in the
Philippines rice auction, which is scheduled in April 2014. The MoU has to be
renewed every four years. The Philippines is likely to invite tenders to buy
800,000 tons of rice soon.
Tags:
Thailand rice exports, Thailand rice mortgage program
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farmers#sthash.oXL1vaaM.dpuf
Philippines to Import One Million Tons of Rice in 2014
Under Government-to-Government Deals
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Mar 17, 2014
The targeted one million tons of rice imports this year will be under
government-to-government (G-2-G) deals, according to the Philippines
Department of Agriculture (DA).
The Philippines recently announced that it is planning to import about
800,000 tons of rice to control prices and maintain buffer stocks. The DA
says that this will be part of the targeted one million tons of rice imports this
year. The inter-agency committee of the National Food Authority (NFA) will
give the details of the importation plan this week after receiving production
data on the rice harvest for the dry season cropping, according to the
Agricultural Secretary.
The DA says that the importation would be through the G-2-G deals despite
the huge volume of rice needed to be imported before the start of the lean
season (July-September). Currently, the Philippines has G-2-G purchase
agreements with Cambodia, Thailand and Vietnam. The government may

13. also import 200,000 tons of rice that were part of the 500,000 tons of last
year's emergency imports under G-2-G deals.
The Agricultural Secretary also says that the government is continuing its
rice self-sufficiency program, despite the decision to import rice. He says
that many regions in the country have registered production increases in this
cropping season compared with last year, and the country's paddy rice
production is likely to be around 19 million tons in 2013-14.
According to the USDA, the Philippines milled rice production in 2013-14 is
estimated at around 11.6 million tons (about 18.5 million tons, unmilled
rice), against a consumption of around 12.8 million tons. The USDA
estimates the Philippines to import 1.4 million tons of rice in 2014, while the
UN's FAO estimates it to import 1.2 million tons of rice.
Tags:
Philippines rice imports
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Philippines to Import One Million Tons of Rice in 2014
Under Government-to-Government Deals
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 Print
Mar 17, 2014
The targeted one million tons of rice imports this year will be under
government-to-government (G-2-G) deals, according to the Philippines
Department of Agriculture (DA).
The Philippines recently announced that it is planning to import about
800,000 tons of rice to control prices and maintain buffer stocks. The DA
says that this will be part of the targeted one million tons of rice imports this
year. The inter-agency committee of the National Food Authority (NFA) will
give the details of the importation plan this week after receiving production
data on the rice harvest for the dry season cropping, according to the
Agricultural Secretary.
The DA says that the importation would be through the G-2-G deals despite
the huge volume of rice needed to be imported before the start of the lean
season (July-September). Currently, the Philippines has G-2-G purchase
agreements with Cambodia, Thailand and Vietnam. The government may
also import 200,000 tons of rice that were part of the 500,000 tons of last
year's emergency imports under G-2-G deals.
The Agricultural Secretary also says that the government is continuing its
rice self-sufficiency program, despite the decision to import rice. He says
that many regions in the country have registered production increases in this

14. cropping season compared with last year, and the country's paddy rice
production is likely to be around 19 million tons in 2013-14.
According to the USDA, the Philippines milled rice production in 2013-14 is
estimated at around 11.6 million tons (about 18.5 million tons, unmilled
rice), against a consumption of around 12.8 million tons. The USDA
estimates the Philippines to import 1.4 million tons of rice in 2014, while the
UN's FAO estimates it to import 1.2 million tons of rice.
Tags:
Philippines rice imports
- See more at: http://oryza.com/news/rice-news/philippines-import-one-million-tons-rice-2014-
under-government-government-deals#sthash.rvi1soFh.dpuf