Professional Documents
Culture Documents
March 17,2016
Vol 7,Issue III
www.ricepluss.com
www.riceplusmagazine.blogspot.com
The government of Brunei is working on the development of high-yielding rice varieties that can
produce about 12 tons per hectare to achieve self-sufficiency in rice production, according to
Brunei Times.
The Minister of Primary Resources and Tourism reportedly told in the 12th Legislative Council
(LegCo) meeting that research will be conducted to identify and develop such varieties. The
government is planning to introduce them to farmers by 2019.
Responding to a member's question on the governments assistance to farmers in the country's
main rice growing areas, the Minister noted that the Department of Agriculture and Agrifood
(DAA) has helped farmers get fertilisers, pesticides and machinery to plant Pusu, Bario, Adan
and Laila rice varieties. He noted that DAA also conducted research on the viability of planting a
hybrid rice variety BDR5 (Brunei Darussalam Rice 5), which is a high-yielding, low maturity
variety.
The Minister noted that the government has been encouraging farmers to use modern machinery
but soil in many rice growing areas is not suitable to use such machinery.
The government has been aiming for 60% self-sufficiency in rice production by 2015. Last year,
the Deputy Permanent Secretary at the Ministry of Industry and Primary Resources (MIPR)
apprised the Parliament that the government is far from achieving the target due to poor
irrigation infrastructure. However, the government has intensified efforts to increase rice
production, including incentive schemes such as the buy-back programme, infrastructure
development and the adoption of advanced production technologies to boost yields and overall
productivity, according to the official.
Brunei produces only 2% of the nations domestic annual rice consumption of around 40,000
tons. Bruneis rice production has remained at around 1,000 tons since 2002, according to the
USDA. The U.S. agency estimates Brunei to produce 1,000 tons of milled rice and import
around 40,000 tons in 2016, to meet a consumption demand of around 41,000 tons.
India 5% broken
365-375
U.S. 4% broken
440-450
Vietnam Jasmine
460-470
Brokens
Thailand A1 Super 335-345
Vietnam rice sellers lowered their quotes for 25% broken rice by about $5 per ton to around
$355-$365 per ton and increased their quotes for Jasmine rice by about $15 per ton to around
$460-$470 per ton today . Other Asia rice sellers kept their quotes unchanged
today.
5% Broken Rice
The Post forecasts Egypt's MY 2015-16 rice consumption at around 3.5 million tons, down from
around 4 million tons last year and down from USDA's official estimates of around 4 million
tons due to shortages of rice supplies in the governments subsidy program.
The USDA Post forecasts rice stocks to increase about 31% y/y to around 1.2 million tons during
the year as many traders are hoarding stocks in expectation of high prices.
Rice farmers in Indonesia's main rice growing area Bali are hoping to benefit from the province's
crop insurance program, which was launched in October 2015, to protect farmers from crop
failures caused by disasters such as drought, flooding or pest attacks, according to Reuters.
The program is part of the larger Indonesian crop insurance scheme launched in 2012-13 with
financial support from the Japan International Cooperation Agency (JICA). It promises to pay
farmers up to six million rupiah (around $480) for a crop failure. Under the program, the
government will pay 80% of the premium of 180,000 rupiah (around $13) per hectare.
The U.S. cash market was slightly firmer today although trading was limited as most buyers and
sellers remain at odd on prices.Some market participants are hopeful that more demand from Iraq
and Colombia will show up and shore up U.S. prices however the U.S. still remains
uncompetitive compared to some South American countries.
A number of research institutes in Thailand are keen on investing the country's rice research
activities to help the government increase the competitiveness of Thai rice and rice products in
the global market, according to ThaiVisa.com.The Director-General of the Thai Rice
Department, which takes care of rice research in the country, told reporters that the investments
by the agencies will be used to develop premium rice species, improve nutritional value, and
help farmers raise productivity while lowering costs. He also noted that the Department's current
rice research activities are primarily focussed on the development of a new strain that thrives in
dry weather conditions. He added that the Department is working on the development of a
variety called 'Kor Khor 61.'
"Researchers are trying to introduce rice as ingredients in dietary supplements and cosmetics.
Fifteen studies have so far yielded promising results. They will soon be introduced to the rice
industry," he said.In a latest development, the Agricultural Research Development Agency
(ARDA) has shown interest to invest in the country's rice research. "ARDA would recommend
technologies to the farming sector to help increase the quality of grains," said the Deputy
Director of the ARDA.
The government of Thailand is planning to sell about 641,000 tons of stockpiled rice on March
30 and 31, 2016, Reuters quoted the Thai Commerce Ministry.This will be the second auction of
this year. The Chief of the Foreign Trade Department told reporters that bidding for 418,000 tons
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Oryza CBOT Rough Rice Futures Recap Chicago Rough Rice Futures Capture Late
Session Rally as U.S. Dollar Tumbles and Oil
Surges in Wake of FOMC Announcement
Mar 17, 2016
Chicago rough rice futures for May delivery settled 11.5 cents were cwt (about $3 per ton)
higher at $10.485 per cwt (about $231 per ton). The other grains finished the day mostly lower;
Soybeans closed about 0.3% higher at $8.9450 per bushel; wheat finished about 1.4% lower at
$4.7075 per bushel, and corn finished the day about 0.1% lower at $3.6825 per bushel.U.S.
stocks struggled to hold gains Wednesday ahead of the scheduled afternoon conclusion of the
Fed meeting. The Federal Open Market Committee is due to conclude its two-day meeting on
Wednesday with the 2 p.m. ET release of its statement and economic projections. Those include
the highly scrutinized "dot plot," which shows the targets for appropriate federal funds rates by
FOMC participants. Fed Chair Janet Yellen is also scheduled to give a news conference at 2:30
p.m. U.S. crude oil futures traded near $37.84 a barrel in midday trade, a touch off session highs.
Earlier, WTI briefly traded more than 4% higher after weekly crude oil inventories showed a
smaller-than-expected build of 1.3 million barrels and following news producers will meet next
month in Qatar to discuss a proposal to freeze output. In other economic news, housing starts
rose 5.2% in February.
Industrial production declined 0.5% in February, with capacity utilization at 76.7%.In afternoon
trade, the Dow Jones industrial average traded down 29 points, or 0.17%, at 17,237. The S&P
500 traded down 3 points, or 0.17%, at 2,012, with health care leading five sectors lower and
energy the greatest advancer. The Nasdaq composite dipped 1 point, or 0.03%, to 4,727. Gold is
seen trading about 0.1% lower, crude oil is seen trading about 4% higher, and the U.S. dollar is
seen trading about 0.2% higher at about 1:00pm Chicago time.Tuesday, there were 288
contracts traded, down from 352 contracts traded on Monday. Open interest the number of
contracts outstanding on Tuesday increased by 38 contracts to 12,495.
Exclusive News have been shared with written permission of ORYZA.com with thanks
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