18th 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 - Quiet Market as Selling Rice Takes Backseat to Harvesting Wheat and Planting
Beans
Italy's New Project Supports Agriculture Sector Growth
Oryza Afternoon Recap - Chicago Rough Rice Futures Close Lower as New Crop Selling Weighs July Futures
Down
Winning World Cup Recipes: Russia vs South Korea
Oryza Overnight Recap - Chicago Rough Rice Futures Paused a Tick Higher as Traders Look for Continued
Liquidation on the Part of Short Holders
The Three Secrets of India's Rice Export Success
Brazil Paddy Rice Index Slightly Down from Last Week
Philippines Farmers Group Opposes Rice Price Hike, Blames Rice Cartels for Manipulating Prices; Government
Vows to Prevent Rice Hoarding
Guyana Rice Sector Faces Problem of Plenty with Increasing Supplies and Lack of Export Demand
Thailand Rice Seed Industry Needs an Overhaul
Iran Imports 196,600 Tons of Rice in First Two Months of CY 2014-15; Down 39% from Last Year
Thailand BAAC Completes Overdue Payments to Rice Farmers Five Days before Schedule
Asia Rice Quotes Unchanged Today
Oryza Global Rice Quotes

News Detail
Oryza U.S. Rough Rice Recap - Quiet Market as Selling Rice Takes Backseat to
Harvesting Wheat and Planting Beans

Jun 17, 2014
The U.S. cash market was fairly quiet today as many farmers were busy either harvesting wheat or planting
soybeans and showed very little interest in selling at the levels most buyers were willing to pay.As of today, old


crop offers could still be found around $15.75 per cwt fob farm (about $347 per ton) for June-July shipment
although most are still hoping to net at least $16.11 per cwt fob farm (about $355 per ton).Bids from exporters
increased slightly today to around $15.55 per cwt (about $343 per ton) for June delivery while smaller mills are
still bidding near $16.00 per cwt (about $353 per ton) for the same delivery period however no trades were
reported.
Tags: U.S. rice prices; U.S. rice market
Italy's New Project Supports Agriculture Sector Growth
Jun 17, 2014
More professional opportunities for young people; a cut in taxes; simplification of laws and bills; and sanctions against
farmers who choose GMOs: these are the main concepts of a new Ministry of Agriculture project in Italy called
Campolibero (free field). The plan was launched about two months ago, and Minister Maurizio Martina asked those
interested in these topics to send him an email by April 30. Now, about a month and a half later, the new measures are
ready and bear some relevance to the rice-growing sector in Italy:
Young farmers (no more than 35 years old) will pay lower taxes on land renting.
Young farmers (no more than 40 years old) opening a new farming company may apply for no interest funding.A network
for quality agricultural jobs has been established, and there are incentives for creating new jobs.There will be tax credits
up to 400,000 euros (about $541,600) for no more than 40% of the effective investments for the following sectors:
research and development projects, products and technologies, and the creation of company networks.
There will be tax credits up to 50,000 euros (about $67,700) for the e-commerce of agroalimentary products.Farms
cultivating GMOs will face stricter controls on their presence and possible sanctions.
Tags: farming, farmers, tax credits, GMO, GM Crops, genetically modified organism (GMO), young farmers

Oryza Afternoon Recap - Chicago Rough Rice Futures Close Lower as New Crop
Selling Weighs July Futures Down
Jun 17, 2014
Chicago rough rice futures for Jul delivery settled 1.5 cents per cwt (about $0.33 per ton) lower at $14.650 per
cwt (about $323 per ton). Rough rice futures backed off slightly today as selling pressure picked up in new crop
contracts which weighed on the front month future. The market appears to be pricing in a lack of demand as
well as expectations for a larger than expected crop next year as the July/September spread has now widened
back out to 64 cents per cwt (about $14 per ton).


Despite a slightly lower close, todays chart formation is seen as a positive development as the market managed
to put in place a higher high as well as higher low. The other grains finished the day mostly lower with only
wheat managing to pull off a marginal gain by the close; soybeans closed about 1.7% lower at $13.9825 per
bushel; wheat about 0.1% higher at $5.8275 per bushel, and corn finished the day about 0.5% lower at $4.3975
per bushel.U.S. stocks posted slight gains on Tuesday after a May rise in consumer prices came in larger than
expected, with the data coming a day ahead of the Federal Reserve's monetary-policy decision. The Labor
Department's consumer price index jumped 0.4% in May, with the report coming as the Fed starts a two-day
monetary-policy session. An increase in inflation reduces the risk of an extended decline in prices that crimps
economic growth, and offers the Fed a reason to maintain their program of scaling back monetary easing.

The Commerce Department reported housing starts declined 6.5% in May, versus 12.7% in April. After a 48-
point fall and 29-point gain, the Dow Jones Industrial Average was lately up 5.30 points at 16,786.31. The S&P
500 added 1.04 point, or 0.1%, to 1,938.82, with energy and utilities hardest hit and financials and technology
faring best among its 10 major sectors. Also wavering on either side of unchanged, the Nasdaq rose 13.02
points, or 0.3%, to 4,334.12. Gold is trading about 0.4% lower, crude oil is seen trading about 0.6% lower, and
the U.S. dollar is seen trading about 0.2% higher at about 1:00pm Chicago time.Monday, there were 1,708
contracts traded, up from 709 contracts traded on Friday. Open interest the number of contracts outstanding
on Monday increased by 61 contracts to 9,353.
Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures

Winning World Cup Recipes: Russia vs South Korea
Jun 17, 2014
What better way to celebrate the World Cup festivities from afar than with some regionally-themed rice
dishes!For Tuesdays match-up, Russian rice pilaf goes head-to-head with Korean kimchi fried rice for your
edible pleasure while you watch Russia and Korea battle it out in the last game of the day.Both of these dishes
are relatively humble staples of Russian and Korean food culture, and both feature rice as the star of the
dish. With just a few other ingredients, a modest bowl of rice becomes a filling meal that represents each
countrys unique flavors. The Russian Rice Pilaf can be made in advance, and the Kimchi Fried Rice is a great
use of leftover rice.

Russian Rice Pilaf

What You Need:
4 tablespoons butter, melted
cup slivered almonds
2 cups long-grain rice
teaspoon ground ginger
2 teaspoons sesame seeds
2.5 cups chicken or vegetable stock or broth


teaspoon salt
teaspoon ground black pepper

What You Do:

1. Preheat the oven to 350 F. Spread the almonds in a thin layer on a cookie sheet and toast for about 5
minutes, making sure not to burn them.
2. In a large casserole dish (2-quart is a good size), add the melted butter and rice and cook for about 10
minutes, stirring regularly with a wooden spoon, until the rice is somewhat white and opaque.
3. Add the ginger, sesame seeds, chicken/vegetable stock, salt, and pepper. Bring to a boil, stirring
constantly.
4. Cover the dish and bake in the oven for about 35 minutes, or until all the liquid is absorbed and the rice is
cooked, fluffing the rice with a fork a couple times during the baking process.
5. Add salt to taste, and sprinkle the toasted almonds on top before serving.

Kimchi Fried Rice (Kimchi Bokumbap)

What You Need:
1 cup kimchi, drained and chopped
onion, chopped
1 tablespoon butter
2 cloves garlic, minced
2 T soy sauce
3 cups cooked rice
1 tablespoon red pepper paste (gochujang, sold in Korean markets), optional
cup thinly sliced meat (beef, pork, bacon, ham) or tofu (cubed or shredded), optional

What You Do:
1. Saut kimchi and onion over medium heat until transparent.
2. Add tablespoon butter, garlic, soy sauce, and red pepper paste (if using) to pan and continue to saut
another few minutes.
3. If using, add meat/tofu and continue to saut until meat/tofu is cooked/browned.
4. Turn off heat but leave pan on burner and add rice and remaining butter, mixing completely.
5. Salt and pepper to taste, and top with fried egg to serve.
Note: This recipe is adaptable and forgiving use more or less kimchi, meat, red pepper paste, etc., based on
what you have available!

Tags: soccer, World Cup, Rice recipe, food


Oryza Overnight Recap - Chicago Rough Rice Futures Paused a Tick Higher as
Traders Look for Continued Liquidation on the Part of Short Holders

Jun 17, 2014
Chicago rough rice futures for Jul delivery were paused 0.5 cents per cwt (about $0.11 per ton) higher at
$14.670 per cwt (about $323 per ton) as of 8:45am Chicago time. The other grains are seen mostly lower this
morning ahead of floor trading in Chicago: soybeans are currently seen about 0.6% lower, wheat is paused 0.3%
higher, and corn is noted about 0.3% lower. U.S. stock index futures turned lower on Tuesday after economic
reports had consumer prices rising and housing starts coming in below expectations.

The Commerce Department reported housing starts declined 6.5 percent in May, versus 12.7 percent in April.
And the Labor Department's consumer price index jumped 0.4 percent in May. Islamist militants took control of
another Iraqi town, Saqlaqiya, on Monday, with the help of allied tribesmen. There were also reports of fighting
south of Baghdad. The U.S. is reportedly considering air strikes to help Iraq fight off the rebels, but has ruled
out coordinated military action with Iran. Russia cut off gas supplies to Ukraine on Monday, after the two
countries failed to agree on payment. U.S. stocks reversed losses on Monday to end mildly higher for a second
consecutive session.

This followed upbeat economic reports: May industrial production increased, home builder sentiment surged in
June and the Empire State index of business conditions rose to a four-year high. No major quarterly earnings are
due before markets open, but Adobe Systems will report after Wall Street closes. U.S. stock index are currently
trading about 0.2% lower, gold is currently trading about 1% lower, crude oil is seen trading about 0.4%
lower, and the U.S. dollar is currently trading about 0.2% higher at 8:45am Chicago time.
Tags:U.S. rice prices; U.S. rice market; Chicago rough rice futures

The Three Secrets of India's Rice Export Success
Jun 17, 2014

The All-India Rice Exporters Association, the apex body of Indian Rice Exporters worldwide, attributes Indias
success to three factors top quality basmati rice; worlds highest acreage of rice cultivation with 7 million
hectares; and competitive pricing on non-basmati rice. Its official. India is the world's biggest rice exporter and
is expected to export 11 million tons of rice in 2014, an improvement from 9.3 million tons of rice exports in
2013.The Food and Agriculture Organization estimates that India will remain the top exporter as Vietnam
occupies the number two slot (7.8 million tons of rice exported) and Thailand at number three) with about 7.7
million tons).Thailands loss is Indias gain, especially after the political turmoil in Thai made it lose the
coveted slot to India two years ago giving a fillip to Indian rice trade. Currently, Russia, Saudi Arabia,


Indonesia and Nigeria are the biggest importers of Indian rice.On the price front, although Basmati rice enjoyed
a 20 percent increase year on year in 2012 with price per ton touching $1300, prices are likely to fall slightly
this year.

Tags: All India Rice Exporters Association (AIREA)

Brazil Paddy Rice Index Slightly Down from Last Week

Jun 17, 2014

The Brazilian paddy rice index maintained by CEPEA reached at about 36.49 real per 50 kilograms as of June
16, 2014, slightly down from about 36.74 real per 50 kilograms recorded on June 9, 2014.In terms of USD per
ton, the index reached at about $327 per ton on June 16, 2014, down about 0.3% from about $328 per ton
recorded on June 9, 2014.


Philippines Farmers Group Opposes Rice Price Hike, Blames Rice Cartels for
Manipulating Prices; Government Vows to Prevent Rice Hoarding

Jun 17, 2014
The Philippines militant farmers group Kilusang Magbubukid ng Pilipinas (KMP) has opposed the rice price
hike of about P2 per kilogram (around $45 per ton) as stated by the National Food Authority (NFA), owing to
market movements, according to local sources.The KMP Chair noted that the price hike would not be temporary
as claimed by the NFA, adding that prices never reached their pre-hike levels immediately after harvests began.
He said the Presidential Office was encouraging the existence of rice cartels, which are resorting to price
manipulations in the country.

He urged the Presidential Office to rollback rice prices, dismantle the rice cartels and reinitiate the government's
trade liberalization policy.He also said the recent statement by the Bureau of Agricultural Statistics (BAS) that
the country's rice stocks were sufficient for 73 days was misleading as it included stocks held by the local
market and households.Meanwhile, the Presidential Communications Secretary said they are awaiting a
comprehensive report from the Department of Agriculture (DA) to ensure stable production and supply. He also
reiterated that the government was strictly against rice hoarding and would punish those resorting to hoarding
and other unfair trade practices. "Surveillance is being carried out to discourage hoarding and other practices
that could lead to artificial shortage," he adds.

Tags: Philippines Rice Production, Philippines rice imports

Guyana Rice Sector Faces Problem of Plenty with Increasing Supplies and Lack of
Export Demand

Jun 17, 2014
Guyana's rice sector is facing new problems with increasing rice supplies and lack of export demand, according
to local sources.According to officials of the Guyana Rice Producers Association (RPA), nearly 80,000 tons of
rice from 2013 and about 150,000 tons of rice from the minor crop (January - June) of 2014 are lying in
warehouses and the Ministry of Agriculture is expecting to harvest around 250,000 tons of rice from the 2014
main crop (May - November).Currently, Guyana supplies around 140,000 tons of paddy and around 50,000 tons
of milled rice to Venezuela under this year's oil-for-rice deal, and small amounts of rice to Jamaica and Haiti.


The RPA and the Ministry of Agriculture specified in the beginning of this year the government is planning to
expand its export destinations to Brazil, Belize, Guatemala, Jamaica, Trinidad and Tobago, and some European
countries.Guyana also lacks sufficient storage facilities for milled rice as well as paddy. The government has to
sell the existing stocks before the harvest from the main crop starts arriving in August. Officials are concerned
of delays of shipments to Venezuela due to placement problems in Venezuela ports. So, far Guyana could ship
only 25,000 tons of milled rice and 70,000 tons of paddy to Venezuela.The Ministry of Agriculture expects
2014 production to cross its estimated target of 543,793 tons.

Local sources say there are no indications of Guyana securing deals with new markets and the government
might be left with around 300,000 tons of surplus rice by the end of this year.Guyana produced around 532,000
tons of rice in 2013, up about 25% from about 425,000 tons produced in 2012; and exported around 394,989
tons in 2013, up about 18% from about 334,170 tons exported in 2012, according to the Agriculture
Minister. USDA estimates Guyana to produce around 536,000 tons of rice and export around 400,000 tons of
rice after meeting the domestic consumption needs of around 130,000 tons.

Tags: Guyana rice production, Guyana rice exports
Thailand Rice Seed Industry Needs an Overhaul
Jun 17, 2014
Thailand has begun renovation of its rice sector after the controversial rice-pledging scheme has severely
damaged its reputation, according to local sources. Thai military junta has ordered the relevant agencies to
repair the country's rice sector from the scratch.Thailands six key agencies, including the Rice Department, the
Bank for Agriculture and Agricultural Cooperatives, the Thai Rice Foundation under Royal Patronage, the
National Science Technology and Innovation Policy Office, the Agricultural Research Development Agency
and the National Science and Technology Development Agency (NSTDA), have identified lapses in the
production of high-quality rice seeds in the country.

The rice agencies told local sources that shortage of high-quality rice seeds is the one of the major problems
faced by Thai rice farmers and only 40% of the required demand is met by the local rice-seed production
companies. They noted that this gap in supply of and demand for high-quality rice seeds is affecting the yield as
well as quality of the output.The agencies noted that Thai farmers lack access to elite lines and master seeds as
well as requisite knowledge of using high-quality rice seeds. They also noted that there is no proper linkage
between rice-seed producers and distributors, sufficient number of seed-certification inspectors and necessary
finances to support the production/distribution chain.

The six agencies will work together to increase production of high-quality rice seeds in line with demand,
develop a network of rice seed producers and distributors, upgrade certification system of rice seeds, ensure
availability of funds for the industry. Initially, they are planning to launch a training program in rice-seed
production to create awareness among farmers regarding the importance of quality seeds and gradually
encourage them to increase their usage and eventually boost country's rice production and exports.


Iran Imports 196,600 Tons of Rice in First Two Months of CY 2014-15; Down 39%
from Last Year
Jun 17, 2014
Iran has imported around 196,600 tons of rice in the first two months of the Iranian Calendar Year (CY) 2014-
15 (March 21, 2014 - March 20, 2015), down about 39% from around 323,888 tons imported during the same
period in CY 2013-14, according to data from the Islamic Republic of Iran Customs Administration (IRICA).
Rice accounted for about 3.2% of the country's non-oil imports in March 21 - May 21 period, according to the
IRICA.

In terms of value, Iran imported around $235 million worth of rice in March 21 - May 21 period, down about
36% from about $368.5 million worth rice imported last year. Iran imported 1.956 million tons of rice in CY
2013-14, up about 51% from CY 2012-13, according to data from IRICA.Decline in basmati rice imports from
India since February 2014, after Iran had revised the accepted level of arsenic content in basmati rice from 150
parts per million (ppm) to 120 ppm, seems to be the main reason for a plunge in Iran's total rice imports.
According to data from India's Agricultural and Processed Food Products Export Development Authority
(APEDA), India exported about 130,000 tons a month of basmati until February 2014, but sales have since
plunged to 50,000-60,000 tons a month since then. India exported around 1.44 million tons of basmati rice to
Iran in FY 2013-14 (April - March), up about 33% from around 1.08 million tons of basmati exported in FY
2012-13.
Tags: Iran rice production, Iran rice imports, Basmati rice

Thailand BAAC Completes Overdue Payments to Rice Farmers Five Days before
Schedule
Jun 17, 2014
The Bank of Agriculture and Agricultural Cooperatives (BAAC) in Thailand has completed all the outstanding
payments to rice farmers five days ahead of the scheduled date of June 22, 2014, according to Reuters.The bank
had paid around 90 billion baht (around ($2.8 billion) to around 800,000 farmers, who pledged paddy rice from
the 2013-14 main crop (October 2013 - February 2014) since the military junta has taken over on May 22 and
prioritized payments to rice farmers.

The BAAC President noted that a total of 1.69 million farmers had pledged around 11.81 million tons of paddy
rice worth about 195.45 billion baht (around $6.028 billion) from 2013-14 main crop. He said the BAAC has
completed payments worth 195.394 billion baht (around $6.026 billion), but payments of about 56 million baht
(around $1.73 million) to a small number of farmers has been withheld owing to some documentation problems,
according to local sources.


He expressed confidence that the completion of payment would rekindle the Thai economy and contribute to
around 0.2% additional GDP growth.The military government decided over not continuing the rice pledging
scheme, which has dented the country's economy to a major extent. It has ordered the Commerce Ministry to
conduct checking on the remaining rice stocks for quality and any losses.
Tags: Thailand rice exports, Thailand rice pledging scheme

Asia Rice Quotes Unchanged Today
Jun 17, 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 $20 per ton lower than Viet 5% rice
(of new crop) quoted at around $400 - $410 per ton. Indian 5% rice is quoted at around $430 - $440 per ton,
about $15 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 around $350 - $360 per ton, about $10 per ton lower than Viet 25%
rice (of new crop) quoted at around $360 - $370 per ton. Indian 25% rice is quoted at around $385 - $395 per
ton, on par with Pak 25% quoted at around $385 - $395 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 $400 - $410 per ton, about $35 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 (of new crop) 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: Thailand rice prices, Vietnam rice prices, India rice prices, pakistan rice prices


Oryza Global Rice Quotes
June 18th, 2014
Long grain white rice - high quality
Thailand 100% B grade 395-405
Vietnam 5% broken 395-405
India 5% broken 430-440
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 385-395
Cambodia 25% broken 405-415
India 25% broken 385-395
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 400-410
U.S. parboiled 4% broken 660-670
Brazil parboiled 5% broken NQ
Uruguay parboiled 5% broken NQ

Long grain fragrant rice
Thailand Hommali 92% 965-975
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

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