5th June, 2014 Daily Exclusive ORYZA E-Newsletter by Riceplus Magazine

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TOP Contents - Tailored for YOU
Latest News Headlines
Iraq Buys 120,000 Tons of Rice from Uruguay, U.S.
Oryza Rice Currency Analysis for Today Currencies Little Moved
Oryza Afternoon Recap - Chicago Rough Rice Futures Continue to Get Flogged by
Relentless Sellers while Buyers Take Wait and See Approach
Oryza U.S. Rough Rice Recap - Cash Prices Fall Despite U.S. Being Awarded Cargo on
Latest Iraq Tender
Oryza May 2014 Rice Market Review
Salt-Tolerant Rice Varieties May Restore Productivity of Philippines Island
South Korea Facing Growing Rice Surplus amid Declining Domestic Consumption,
Increasing Import Pressure
Oryza Overnight Recap - Chicago Rough Rice Futures Fall Back to Yesterday's
Settlement Price after an Initial Attempt at Recovery Overnight
Indonesia Government Amends "Rice for the Poor" Program
FAO Global Rice Price Index Declines Slightly in May 2014
TREA President Calls for Government Rice Stocks Audit amid Increasing Exports
Bangladesh to Import 200,000 Tons of Rice in 2014-15
U.S. Private Weather Agencies Predict Weak El Nio in 2014
Brazil Paddy Rice Index Slightly Up from Last Week
Asia Rice Quotes Unchanged Today
Oryza Global Rice Quotes

News Detail
Iraq Buys 120,000 Tons of Rice from Uruguay, U.S.


Jun 04, 2014
Iraq has bought 120,000 tons of rice including 90,000 tons of Uruguay origin and 30,000 tons of U.S. origin,
according to Bloomberg. Bloomberg says the announcement was made in a email-statement from the Iraq Trade
Ministry.

Tags: Iraq rice tender, Iraq rice imports, Uruguay rice exports, U.S. Rice exports
Oryza Rice Currency Analysis for Today Currencies Little Moved
Jun 04, 2014
U.S. dollar index was up +0.14% from the open today, when it traded at 80.664 at the close.

Euro was weaker -0.21% by the close, trading around 1.3599 by end of day, after trading between an intraday
high of 1.3639 and low of 1.3597.

Thai baht was weaker -0.16%, trading at 32.673 at the close of business.

Indian rupee was stronger +0.09% at 59.3350.

Brazilian real was weaker -0.07% at the close of trading today, trading at 2.2872 reais per dollar.

Pakistan rupee was +0.14% stronger at 98.4857.

Vietnamese dong was stronger +0.07% at 21200.

Mexican peso was stronger +0.04% today, when it traded at 12.9333 pesos per dollar by the close of business.

Chinese yuan was stronger +0.07% at 6.2504.

Argentine peso was weaker -0.15% at 8.1064 pesos per dollar.
Tags: foreign exchange rates, rice currencies, Global rice trade
Oryza Afternoon Recap - Chicago Rough Rice Futures Continue to Get Flogged by
Relentless Sellers while Buyers Take Wait and See Approach
Jun 04, 2014
Chicago rough rice futures for Jul delivery settled 32.5 cents per cwt (about $7 per ton) lower at $14.225 per
cwt (about $314 per ton). Rough rice futures were pounded lower again today, adding to huge losses sustained
over the past three sessions as well as over the previous week. Prices have now fallen over $1.25 per cwt (about


$28 per ton) since touching a high of $15.500 per cwt (about $342 per ton) in mid-May. Another sizeable leg
lower could place the market below $14.000 per cwt (about $309 per ton), a level not seen in the front month
contract in years. Technically the market remains bearish, however some traders point out that futures have
become very attractive to players who may be able to line up late season sales.

The other grains finished the day with mixed results; soybeans closed about 0.1% higher at $14.8250 per
bushel; wheat about 0.3% higher at $6.1450 per bushel, and corn finished the day about 0.4% lower at $4.5625
per bushel. U.S. stocks rose on Wednesday, lifting the S&P 500 into uncharted territory, after a measure of the
U.S. services sector climbed more than expected in May, helping counter another report that had private-sector
job creation failing to live up to expectations. Stocks maintained near session highs after the release of the
Federal Reserve's Beige Book of regional business conditions, which found expansion in all of the Fed's 12
districts. The anecdotal information comes ahead of a Federal Open Market Committee gathering later this
month.

The ISM non-manufacturing index rose to 56.3 in May, versus a 55.5 estimate, partially offsetting the latest
reading from ADP and Moody's Analytics, which found companies, added 179,000 positions last month, versus
expectations of 215,000 job additions. After a 48-point drop, the Dow Jones Industrial Average advanced 12.31
points, or 0.1%, to 16,734.65. Consumer staples and materials led sector gains as the S&P 500 also turned
positive, rising 3.52 points, or 0.2%, to 1,927.76, taking out both its record intraday and closing high reached on
Monday. Also clearing losses, the Nasdaq added 19.32 points, or 0.5%, to 4,253.40. Gold is trading marginally
higher, crude oil is seen trading slightly higher, and the U.S. dollar is seen trading about 0.1% higher at about
1:00pm Chicago time.Tuesday, there were 1,416 contracts traded, down from 1,819 contracts traded on
Monday. Open interest the number of contracts outstanding on Tuesday increased by 179 contracts to 8,393.

Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures
Oryza U.S. Rough Rice Recap - Cash Prices Fall Despite U.S. Being Awarded Cargo
on Latest Iraq Tender
Jun 04, 2014
The U.S. cash market was softer again today despite the news that the U.S. sold 30,000 tons of milled rice to
Iraq in their most recent tender. Old crop offers fell hard today to around $15.90 per cwt fob farm (about $351
per ton) for June shipment and although many sellers had hoped to net at least $16.66 per cwt fob farm (about
$367 per ton) for July and August shipment analysts suggest that some are beginning to re-evaluate their price
ideas.Bids from most larger mills dropped today to around $14.00 per cwt (about $309 per ton) for June
delivery while bids for exporters and smaller mills fell to around $15.50 per cwt (about $342 per ton) for the
same delivery period, although it was reported that rice traded around $15.70 per cwt (about $346 per ton) for
prompt delivery.


Oryza May 2014 Rice Market Review

Jun 04, 2014

The Oryza White Rice Index, a weighted average of global white rice export quotes, ended the month of May at
$460 per ton, up about $10 per ton from a month ago and down about $26 per ton from a year ago.

IRRI economist said despite the productive threat of El Nino, the global stocks-to-use ratio of 23.5% is
comfortable. Separately, the FAO All Rice Price Index declined by about 2 points to about 235 points in May
2014, from about 237 points in April 2014 due to a decline in Japonica price index by about 6 points, or about
2% to about 262 points from about 268 points in April 2014.

Thailand

Thailand 5% broken rice ended the May month at about $380 per ton, up about 1% from a month ago and down
about 26% from a year ago.


After Thailand Caretaker Prime Minister was found guilty in the beginning of the May, by Thailands National
Anti-Corruption Commission, of negligence for the rice mortgage schemes corruption, Thailand government
are still waiting to decide new date for general election. Meanwhile the Thailand Army Chief had declared
Martial Law in the country, which was effective from May 20, 2014, in order to rescue law and order in the
country, after many deaths associated with protests. On May 22, 2014, The Thailand military took full control
of the country. Thailand Army Chief, who said in a press conference that he had received the royal endorsement
for the military takeover, said discussions regarding election are going on and decision on the final date would
depend on the country's security environment. The Military government has renamed itself as National Council
for Peace and Order (NCPO).

Separately, The NCPO has authorized the Finance Ministry to borrow and guarantee bond issuance by the Bank
for Agriculture and Agricultural Cooperatives (BAAC) worth a combined 92.4 billion baht ($2.8 billion) to pay
858,000 rice farmers. In the meantime, the BAAC will start paying to the farmers from its reserve of about 40
billion baht ($1.2 billion). The NCPO is keen on completing all payments within a month.

Separately, Thailand's military government has successfully raised 50 billion baht (about $1.12 billion) needed
to complete payments to farmers waiting to be paid under the abandoned Rice Paddy Pledging scheme.
Thailand public debt office (PDO) will also conduct an auction to raise 40 billion baht (about $892 million) on
June 12, 2014 to repay the BAAC, which had been paying farmers from its reserves. So far, the BAAC paid 36
billion baht (about $803 million) to about 360,000 farmers. The PDO needs a total of 92 billion baht (about $2
billion) to complete payments to about 800,000 farmers. The BAAC has set a deadline of June 22 to complete
payments to farmers.

Separately, Thailand's Finance Ministry has estimated losses from the abandoned rice pledging scheme at about
500 billion baht (about $15 billion), since its inception, according to local sources.

Thailand's rice farmers are seeking an alternative to the Rice Paddy Pledging Scheme introduced by the
previous government, which was abandoned from February 28, 2014 due to lack of funds, according to local
sources. Meanwhile, Bangkoks farming leaders have urged the NCPO to formulate a policy that guarantees
paddy sales at 10,000 baht ($303) per tons for the next crop.

According to some local sources, Thailand is planning to capture the bulk of Malaysia's one million tons rice
import market in 2014. Thailand is also hopeful of regaining its share in Hong Kong's jasmine fragrant rice
market, which it had been losing to Vietnam over the last few years. Thailand's share in Hong Kong's rice
market declined to about 46% in 2013 from about 86% in 2008, while Vietnam's share increased to about 41%
in 2013 from almost nothing in 2008, according to the USDA.

Thailand's 2013-14 second rice crop (January - July), which has almost reached harvesting stage, has been
severely affected by the ongoing drought conditions in the country.

Thailand has exported about 2.9 million tons of rice in the first four months of 2014, up about 45% from about
1.985 million tons exported during the same period in 2013, according to the That Rice Exporters Association


(TREA).The TREA estimates that Thailand will export about 9 million tons rice in 2014, revising its earlier
estimate of 7.5 million tons with an expectation that the end of the government's rice pledging scheme would
again help Thai rice export prices to become competitive against those of Viet and India rice export prices.

The FAO is also estimated that Thailand will export about 9 million tons rice in 2014 due to higher production
and higher carry-over stocks. FAO projects that Thailand will produce about 24.75 million tons rice in 2014,
down about 2% from about 25.2 million tons estimated in 2013.

Separately, TREA and NCPO have called for market-based and transparent audit of all government rice stocks,
and have temporarily stopped government sales in the meantime.

India

India 5% broken rice ended May at about $430 per ton, up about 2% from a month ago, and down about 3%
from a year ago. Average monthly wholesale rice prices in India declined to about Rs.2,872 per quintal (about
$487 per ton) in May 2014, down about 4% from about Rs.2,984 per quintal (about $492 per ton) in April 2014,
and up about 7% from about Rs.2,675 per quintal (about $481 per ton) in May 2013, according to official
sources.

India is expected to produce about106.23 million tons of rice in MY2013-14 (Oct 2013-Sep 2014), up about 1%
from an estimated 105.24 million tons produced in MY2012-13, according to the Indian government data.
Meanwhile USDA estimates that India will produce about 105 million tons rice in MY2013-14 down about 1.3
million tons from Indian government estimates. With the monsoon season approaching analysts are closely
watching the weather and precipitation for signs that production may be curtailed and non-basmati rice exports
banned.

Since October 2013 to May 5, 2014, India has procured about 26.707 million ton rice in current marketing
year(MY)and India is targeting to procure about 34.3 million tons rice in current MY.

As of May 1, 2014, India rice in the central pool reached at about 28.41 million tons (including a milled
equivalent of about 12.302 million tons of paddy), down about 18% from about 34.73 million ton recorded
during same time last year. Current rice stocks are double the required buffer and strategic reserve norms of
about 14.2 million tons for this time of the year.

Vietnam

Vietnam 5% broken rice ended May at about $405 per ton, up about 4% from a month ago and up about 8%
from a year ago.

Vietnam exported about 2.199 tons of rice January 1 - May 29 2014, a pace that suggests a year-end total of
about 5.23 million tons. Separately, Vietnam has lowered the 2014 rice export target to 6.2 million tons from


earlier target to 6.5-7.0 million tons due to heavy competition from Thailand and India. Meanwhile The FAO
estimated Vietnam's milled rice exports to increase to about 7.2 million tons in 2014, up about 8% from about
6.7 million tons in 2013 due to higher production and increased export demand from Asian countries such as
Indonesia, Malaysia, China and the Philippines, backed by low prices.

Separately, Vietnam is now facing trouble internally with most of private exporters not willing to join the
Philippines rice export program for the fear of losses. In April, Vietnam won the bid to supply 800,000 tons of
rice to the Philippines between May and August 2014, in four lots, with selling prices of around $437 per ton.
However, some of the private exporters are officially refusing to supply rice to the Philippines saying the prices
are too low to cover their expenses. Now, Vietnam are planning to renegotiate a change in delivery dates with
the National Food Authority (NFA) of the Philippines as most of the private rice exporters are reluctant to
supply rice to join the Philippines rice export program.

The government of Vietnam is also considering the removal of minimum export price for rice and will allow to
the exporters to set their own prices instead of sticking to the floor prices set by the Vietnam Food Association.

According to the FAO, Vietnam rice production is expected to reach at about 44.2 million tons paddy (about
27/6 million tons milled basis) in 2014 marginally up about from last year's production of about 44 million tons
paddy (about 27.5 million tons milled basis). According to local sources, the Vietnam government is planning
to shift a total of 112,000 hectares of rice area in the Mekong River Delta to other crops such as corn, wheat and
soybean by 2015 in order to reduce import costs on those commodities.

Pakistan

Pakistan 5% broken rice quotes ended May at about $460 per ton, up about 10% from a month ago and up about
5% from a year ago.

Pakistan has exported about 2.66 million tons of rice July 2013 - April 2014, down about 5% from about 2.74
million tons exported during same period last year.

Separately, Pakistan rice exporters, led by the Union of Small and Medium Enterprises have urged the Trade
Development Authority of Pakistan to reconcile rice trade with Mexico, which has banned rice exports from
Pakistan in June 2013 after finding traces of Khapra beetle in some rice shipments from Pakistan, according to
local sources.

Cambodia

Cambodia 5% broken rice ended the month at about $440 per ton unchanged from a month ago.

Cambodia exported about 148,262 tons of rice in first five months of calendar year 2014, up about 1% from
about 146,854 tons rice exported in the same period last year, according to data from the Secretariat of One


Window Service of Rice Export Formality. Meanwhile the FAO expects that Cambodia will export about 1.2
million tons rice in 2014, including unofficial exports of milled as well as paddy rice sold through cross-border
trade to Vietnam and Thailand.

The FAO estimates 2014-15 aggregate paddy rice production from both main (June 2014 - February 2015) and
secondary crops (November 2014 - April 2015) at 9.5 million tons, up about 1% from about 9.4 million tons
produced in 2013-14 levels.

The newly-formed Cambodia Rice Federation , a body that aims to unite the rice sector under one representative
body in the country elected its first chairman, the son of Cambodias deputy prime minister and the CEO of a
business conglomerate that includes rice milling and exporting.

Brazil

There remain no quotes for Brazil 5% broken rice.

The Brazilian Institute of Geography and Statistics (IBGE) projects Brazil's 2014 paddy rice production to
increase to about 12.66 million tons, up about 7.7% from about 11.76 million tons produced in 2013. The IBGE
said rice production will increase due to expectation of higher yield and higher acreage. The IBGE expects the
average yield in 2014 to reach about 5.3 tons per hectare, up about 6% from about 5 tons per hectares achieved
in 2013. In addition, the area harvested under rice is expected to increase by about 2% in 2014 over last year.

Meanwhile, Brazils National Grains Supply Company (Conab) expects that Brazil will produce about 12.632
million tons paddy rice in 2013-14, up about 7% from about 11.82 million tons produced in 2012-13. Average
rice yield in 2013-14 is expected to reach at about 5.21 tons paddy per hectare, up about 6% from last year;
while rice area is expected to reach at about 2.43 million hectares in 2013-14, up about 0.3% from last year.

Separately, Mexico's Secretary of Agriculture, livestock, Rural, Development, Fishing and Food approved
Mexico's importation of Brazil rice paddy in 2014.

U.S.

U.S. 4% broken rice ended the month at about $585 per ton, unchanged from a month ago and down about 7%
from a year ago. CBOT rough rice future ended the month at $14.98 per cwt (about $330 per ton), down about
4% from a month ago and down about 1% from a year ago.

The USDA has projected the U.S. total paddy rice production at 9.66 million tons in MY 2014-15 (August -
July), up about 12% from about 8.61 million tons in MY 2013-14. Meanwhile, the USDA projects U.S. rice
exports to increase by about 7% to about 4.63 million tons in MY 2014-15, from about 4.36 million tons
expected to export in MY 2013-14.

Separately, the number of rice farms in the U.S. declined to about 5,591 in 2012, down about 9% from about


6,084 in 2007, according to the U.S. Agricultural Census, 2012, released recently.

Africa

The government of Nigeria is planning to adopt high-yielding hybrid rice varieties to boost production, in line
with their target of becoming self-sufficient in rice production by 2015, according to local sources. The
government of Nigeria is planning to ban rice imports by 2015, a lofty goal. Nigeria currently imports nearly 3
million tons of milled rice annually, nearly all of it smuggled, since local production of about 2.7 million tons is
insufficient to fulfill the country's consumption needs of about 6 million tons, according to the USDA data.

The Kenyan Agricultural Cabinet Secretary said the East African nation will continue to import rice until the
local production increases to meet the consumption needs, ruling out rumors about Kenya banning rice imports,
according to local sources. Japan is also supporting to the Kenya to increase rice productivity and react its goal
for achieving self-sufficiency by 2018.

The East African Community, comprising of Burundi, Kenya, Rwanda, Tanzania and Uganda, has also
increased the import tariff on rice - Common External Tariff (CET) - by 10% to 35% as a means to protect local
rice farmers and prevent cheap imports from Asia, according to local sources.

The Government of Liberia has suspended taxes on rice imports to control increasing prices of the essential
commodity, according to a press release by the countrys Executive Mansion. Liberia is a net importer of rice,
imports about 50-60% of rice needed for domestic consumption.

Ghana is getting the Dutch support to increase rice production under a two-year project called "Procurement
Governance for Grown School Feeding Project". The project aims to help rice farmers in Ghana by providing
access to quality seeds, farm mechanization services, and appropriate technology for rice harvesting as well as
post-harvest management. Ghana is a net importer of rice.

The FAO estimated that Madagascar will produce about 4.3 million tons paddy in 2014, up about 19% from
about 3.6 million tons produced in 2013. The FAO expects Madagascar's rice imports to reach 2012 levels after
they increased substantially in 2013 due to lower production. Madagascar imported 400,000 tons rice in 2013,
twice of about 200,000 tons imported in 2012.

Myanmar

Myanmar is constructing new parboiling rice mills in several parts of the country to meet increasing demand for
the country's parboiled rice abroad, according to local sources. The new mills will have a combined capacity
between 200,000 tons an 300,000 tons of parboiled rice. Meanwhile, Myanmar's parboiled rice exports are
expected to surge to about 300,000 tons in FY2014-15 (April-March), up almost nine times from 30,000 tons in
FY2013-14, according to the Myanmar Rice Industry Association. Separately, Myanmar is planning to replace
white rice with parboiled rice for local consumption citing health and cost benefits of parboiled rice over white


rice.

Myanmar is considering lifting the duty tax on rice exports to China. Myanmar is negotiating with Chinas
AQSIQ [General Administration of Quality Supervision, Inspection and Quarantine] which may give the
permission for duty free, quota free rice exports, added an advisor for the Ministry of Commerce.

China
China increased the minimum paddy purchase prices for early indica rice to about 2,700 yuan per ton (about
$438 per ton; using current exchange rate) for current year, up about 2.3% from about 2,640 yuan per ton (about
$420 per ton; using historical exchange rate) last year. The idea is to increase rice production and farmers'
income in the country, according to the National Development and Reform Commission.

Philippines

According to the Philippines Rice Research Institute (PhilRice), the Philippines has surpassed Asia's top rice
exporters - such as India, Thailand and Vietnam - in milled rice production growth. According to the PhiRice,
the Philippines milled rice production is growth (about 8.7% over the last 2 years combined) is highest in Asia.
However, Philippines rice imports, which are likely to increase to about 2 million tons in MY2013-14, up by
about 33% over the same period, suggesting production growth is not keeping up with needs.

Total rice stocks in the Philippines as of April 1, 2014 reached at about 2.18 million tons, down about 6% from
about 2.32 million tons recorded during the same time last year and up about 22% from March 2014, according
to the Bureau of Agricultural Statistics

Europe

Italy rice exports to non-EU countries have increased to 92,246 tons in September 1, 2013 - May 20, 2014
period, up about 10% from about 83,966 tons exported last year, according to data published by the Italian
Ministry of Industrial Development. Separately, Italy is beginning a drive to save the genes of thousands of
historical rice varieties by continuing to grow them to avoid degeneration, according to local sources.

The EU has imported 670,618 tons of milled rice since the beginning of the crop year (September 1, 2013) up
until May 6, 2014; thats up about 11% from 602,764 tons imported in the same period a year
earlier. Separately, Committee of Professional Agricultural Organizations - General Confederation of
Agricultural Cooperatives, representative of farmers and farmer cooperatives in the EU, has forecasted EUs
milled rice imports to increase to 950,000 tons in 2013-14, up about 2% from about 928,000 tons imported in
2012-13 due to an expected decline in milled rice production during the year.

Other Markets

The FAO has estimated Japan's paddy rice production to decline to about 10.6 million tons (about 7.2 million
tons of milled rice) January-December 2014, down by about 1.5% from about 10.76 million tons (about 7.3


million tons of milled rice) due to a slight decline in planting area. While Japan is expected to import about
700,000 tons rice in MY2014-15 (April-May), the FAO said.

The USDA estimated Russia's rice exports in 2014 to increase to about 200,000 tons, up about 67% from an
estimated 120,000 tons exported in 2013, due to estimation increase in production and an estimation decline in
consumption. According to the USDA, Russia is expected to import about 250,000 tons rice in 2014. Russia's
milled rice production in MY 2014-15 (January - December) at 650,000 tons, up about 7% from an estimated
608,000 tons in the previous year.

Paddy rice production in Sri Lanka is expected to reach about 3.8 million tons in 2014, down about 19% from
about 4.6 million tons produced in last year and down about 8% from the five-year average of about 4.1 million
tons, according to the FAO. Sri Lanka rice imports are expected to reach about 120,000 tons in MY2014
(January-December), up about 30,000 tons or about 33% from last year.

The FAO estimated 2014 Bangladesh's rice imports to nearly triple to about 400,000 tons due to lower prices in
international market. While Reuters reported the government of Bangladesh will import 200,000 tons of rice in
the fiscal year 2014-15 (July - June) to replenish government rice reserves and ensure food security. According
to Bangladesh's Directorate General of Food (DGF), the government is planning to procure a total of 1.5 million
tons of rice locally during FY 2014-15. The FAO estimates that Bangladesh will produce about 52 million tons
paddy in 2014, slightly above an estimated 2013 paddy rice production of 51.5 million tons, due to increased
planted area backed by favorable weather conditions, and government support to the rice sector, in the form of
seed, fertilizer and fuel subsidies.

May Tenders:

South Korea issued a tender to buy about 73,476 tons of rice.
http://oryza.com/news/tenders/south-korea-tenders-buy-73476-ton-rice

Iraq issued a tender to buy about 30,000 tons of rice
http://oryza.com/news/tenders/iraq-tenders-buy-30000-tons-rice-1

Research and Scientific Development:

Bangladesh overcomes climate challenges with early-harvesting rice
http://oryza.com/news/research-development/bangladesh-overcomes-climate-challenges-early-harvesting-rice

Extensive weeding rice pays off big-time in Sub-Saharan Africa
http://oryza.com/news/research-development/extensive-weeding-rice-pays-big-time-sub-saharan-africa

A study conducted by the Central Rice Research Institute in Cuttack, India, showed that rice paddy in flooded
fields during cultivation absorbs rather than emits carbon.
http://oryza.com/news/research-development/rice-paddy-absorbs-rather-emits-carbon-study-shows


The Journal of Plant Science recently published a study on the insecticidal properties of Orysata (Oryza sativa
L.), a carbohydrate-binding protein called a lectin, that comes from rice.
http://oryza.com/news/research-development/rice-derived-insecticide-shows-promise

A joint team of research scientists from the Nepal Agricultural Research Council and the Philippines-based
International Rice Research Institute have developed three new varieties of rice seeds that are flood and drought
resistant
http://oryza.com/news/research-development/nepal-develops-three-flood-and-drought-resistant-rice-varieties

Scientists from the Philippines-based International Rice Research Institute say it will be necessary to develop
temperature-resistant rice varieties which can tolerate high temperatures, as night temperatures across Asia have
been above 23 degrees Celsius (about 74 degrees Fahrenheit), a danger to rice yields
http://oryza.com/news/research-development/night-temperatures-rise-irri-scientists-look-develop-temperature-
resistant

Rice scientists from the Philippines and Japan are working together to develop 200 new rice varieties, including
disease-resistant and high-yielding varieties, by 2015
http://oryza.com/news/research-development/200-new-rice-varieties-2015

The Philippines-based International Rice Research Institute has claimed that the stress-tolerant rice varieties,
developed by them, are being used by about ten million farmers in South Asia and Africa in about 2.5 million
hectares of rice land as part of the Stress-Tolerant Rice for Africa and South Asia project
http://oryza.com/news/research-development/ten-million-farmers-south-asia-and-africa-use-stress-tolerant-rice

A Vietnam-based researcher has successfully created high temperature-resistant paints, called nano fireproofing
paints, using nano materials derived from rice husk
http://oryza.com/news/research-development/rice-husk-used-temperature-resistant-paints

Rice scientists have finally sounded the death knell for rice blast fungus that mercilessly exterminates nearly
one-third of the worlds rice crop
http://oryza.com/news/research-development/latest-research-sounds-death-knell-killer-rice-fungus

The International Rice Research Institute in Philippines has created some new rice apps for farmers
http://oryza.com/news/research-development/irri%E2%80%99s-swarna-sub1-hot-
%E2%80%98app%E2%80%99-spurring-second-green-revolution

Scientists at the University of Tokyo are trying to convert rice into a cheap storage and effective delivery
vehicle for drugs that can treat cholera and infant diarrhea.
http://oryza.com/news/research-development/rice-grains-replace-expensive-cold-storage-vaccine-delivery


Salt-Tolerant Rice Varieties May Restore Productivity of Philippines Island

Jun 04, 2014
The first harvest of about 2.5 tons of salt-tolerant rice later this year on the Philippines island of Palawan may
help farmers retrieve lands lost to saltwater invasion and protect their livelihood.
The International Rice Research Institute (IRRI) in Philippines is pilot testing two salt-tolerant rice varieties -
Salinas 1 and Salinas 9 - in 1.2 hectares of salt-affected rice fields in the villages of Taytay, on Palawan Island
in the Philippines.While 16 kg of Salinas 9 and 4 kg of Salinas 1 were cultivated using the transplanting method
(in which the seed is sown in one place and the seedlings are transplanted to another place after they have
grown a little in order to get higher yields and less weeding), 40 kg of Salinas 9 was cultivated using the
broadcast method.

This is a method of direct seeding in which one can broadcast about 100kg of seeds per hectare uniformly on
the field) using a furrower which is usually a narrow, shallow trench made in the ground by a plough. The first
harvest of the rice will be used as seeds for the next planting season.Taytays rice bowl status has been under
threat from rising sea levels invading fertile land and. Many farms previously harvested freshwater varieties
have been rendered infertile. The local government says that 1,500 hectares of the areas 9,000 hectares of
agricultural land has become unproductive due to saltwater intrusion into groundwater. The Food and
Agriculture Organization estimates that 6.5% of the worlds total area is affected by salt-water intrusion and
using salt-tolerant varieties is effective in restoring land fertility.

Planting the salt-tolerant variety is among the five climate change adaptation activities under Asian
Development Bank and the Global Environment Facility.Salinas 1 and Salinas 9, two of nine recent IRRI-bred
saline-tolerant varieties, are crossbreeds which have twice the tolerance to salinity compared to naturally salt-
tolerant varieties. Saline-tolerant rice can survive in saline-prone soil having salt levels of at least 0.3%. They
display tolerance during the seeding stage, during reproductive stage or both.

Tags: Philippines, salt-tolerant, productive rice farms
South Korea Facing Growing Rice Surplus amid Declining Domestic Consumption,
Increasing Import Pressure
South Korea may have to reduce its own rice production this year as the country is likely to face a rice surplus,
thanks to increase in imports and a decline in the country's rice consumption. The country's self-sufficiency rate
for rice may touch 92 percent this year, crossing the 90-percent mark of the last four years.South Koreas rice
imports under a minimum market access (MMA) quota are also expected to grow to 409,000 tons, which is 9
percent of its total rice usage. The country is obligated to import 400,000 tons of rice each year even after it
decides to open its market immediately.


In 1993, when South Koreas rice imports started growing steadily, it managed to postpone opening its rice
market under a World Trade Organization (WTO) agreement. The agreement which was extended by 10 years
in 2004 in lieu of further increase in the MMA quota, expires at the end of 2014. The government has not yet
decided on whether or not to liberalize the country's rice market. The ministry has said it will make its final
decision on the rice market opening before the end of June. The first public hearing on the issue is scheduled for
next week.

The Philippines, the only other country in the world besides South Korea which has not liberalized its rice
market yet, recently failed to get an extension of its agreement with the WTO although it offered to double its
rice imports. Rice experts indicate that South Korea may be asked to give much more than what the Philippines
had offered to delay its market opening.

Tags: South Korea rice consumption, South Korea rice imports 2014

Oryza Overnight Recap - Chicago Rough Rice Futures Fall Back to Yesterday's
Settlement Price after an Initial Attempt at Recovery Overnight
Jun 04, 2014
Chicago rough rice futures for Jul delivery were paused unchanged overnight at $14.550 per cwt (about $321
per ton) as of 8:00am Chicago time. The other grains are seen higher this morning ahead of floor trading in
Chicago: soybeans are currently seen about 0.6% higher, wheat was paused about 0.9% higher, and corn is
noted about 0.3% higher. U.S. stock index futures signaled a lower open on Wednesday after data had private-
sector job creation in May failing to live up to expectations.

The ADP private sector payrolls report, usually a warm up act for the official payrolls, found the private sector
added 179,000 jobs last month versus a 215,000 estimate. The Commerce Department reported the trade gap
increased to $47.2 billion in April. And, other data from the Labor Department found workers less productive in
the first quarter, revised down by 3.2%. U.S. stocks eased off their lows on Tuesday, but still closed in the red, a
day after the Dow and S&P 500 hit all-time highs. In Asia on Wednesday, automakers gained on news from the
previous day that U.S. auto sales surged to 1.6 million vehicles in May, the strongest annual sales rate since
before the financial crisis. U.S. stock index futures are currently trading about 0.2% lower, gold is currently
trading about 0.2% higher, crude oil is seen trading about 0.5% higher, and the U.S. dollar is currently trading
about 0.1% lower at 8:00am Chicago time.

Tags: U.S. rice prices; U.S. rice market; Chicago rough rice futures


Indonesia Government Amends "Rice for the Poor" Program

Jun 04, 2014
The Indonesian government has decided to amend its "Rice for the Poor" program (Raskin) based on
recommendations by the Corruption Eradication Commission (KPK), according to local sources.The
government will issue a Social Protection Card (KPS) to all eligible households under the amended Raskin
program, and would sell subsidized rice to about 15.5 million qualifying households, said the Assistant Deputy
of Social Benefits for the Office of the Coordinating People's Welfare Minister. He noted that the government is
planning to spend about Rp 18.8 trillion (around $1.6 billion) on the program this year. Qualifying households
will get rice at Rp 1,600 (around $0.14) per kilogram, he adds.

The government will update its database of household information through village council meetings under the
amended Raskin program. Based on total earnings of a household, the government will include new households
that are really in need of subsidized rice and remove those households that are crossing the limit and are
currently not entitled to receive subsidized rice. The government will sell subsidzed rice to those households
whose earnings are below 25% of average earnings in the country.The Deputy Minister also told local sources
that the KPS system would help the government to ensure that all the eligible households receive 15 kilograms
of rice every month reserved for them. He said the KPS would also serve as an identity card to other social
welfare programs as well.

In April this year, the KPK has alleged that the Raskin program is plagued by cartel practices and several other
irregularities including: invalid data of targeted households, fictitious distribution of Raskin rice, rice-price
hikes despite subsidies, unfair distribution, and poor rice quality. The KPK Chief also claimed that several
eligible households were not receiving Raskin rice and the funds used to run the program exceeded the allocated
budget in the last three years. The government is attempting to address all issues raised by the KPK, said
sources at the Social Affairs Ministry.
Tags: Raskin, Indonesia rice consumption, Indonesia rice production, Indonesia rice imports

FAO Global Rice Price Index Declines Slightly in May 2014


The FAO
All Rice
Price
Index
declined
by about 2
points to
about 235
points in
May 2014,
from about
237 points
in April
2014 due
to a
decline in
Japonica
price index
by about 6 points, or about 2% to about 262 points from about 268 points in April 2014. Sub-indices for higher
quality Indica and lower quality Indica increased by 2 points and 1 point respectively to 207 points and 199
points in May 2014. Aromatice rice price index remained unchanged at 264 points in May 2014.In January -
May 2014, the FAO All Rice Price Index averaged 235 points, down about 2 points from about 237 points
during the same period in 2013. Sub index for higher quality Indica rice prices declined by about 8.1% y/y, and
sub index for lower quality Indica prices declined by about 17% y/y.

Aromatic rice price sub index declined by about 2% y/y. However, sub index for Japonica rice prices increased
by about 14% y/y. According to the FAO, Thai rice prices continued to decline in May as well mainly due to
extensive sale of rice stocks by the government. While export prices of Thai A1 Super declined by about 3%
m/m, export prices of Thai 5% and Thai 25% broken rice declined by about 1,5% and 1.4% m/m respectively.
Rice export prices in India, Pakistan and Vietnam increased and were stable in Americas, according to the FAO.

Tags: FAO All Rice Price Index, Indica, Japonica

TREA President Calls for Government Rice Stocks Audit amid Increasing Exports

The Thai Rice Exporters Association (TREA) President has called for market-based and transparent audit of all
government rice stocks as hopes of Thailand regaining world's top rice exporter status rekindle, according to


local sources.The TREA President noted that audit of rice stocks would reveal the exact quality and quantity of
remaining rice stocks. He said a new rice board comprising of representatives of farmers, rice millers, local rice
traders and rice exporters should be formed to frame policies that are in tune with global markets.

The TREA has estimated Thailand's rice exports to reach 9 million tons in 2014, revising its earlier estimate of
7.5 million tons with an expectation that the end of the government's rice pledging scheme would again help
Thai rice export prices to become competitive against those of Viet and India rice export prices. Exporters have
been expressing concern that the rice pledging scheme, under which the government promised to pay above-
market prices, made Thai export prices uncompetitive. Consequently, Thailand lost its world's top rice exporter
status to India in 2012 and 2013.Secretary-General of TREA said lack of government intervention and
depreciating baht against the dollar would benefit Thai rice exports. Also correction in Thai rice export prices,
increasing demand from China and imminent El Nino, affecting rice production in India and other Asian
countries, are likely to increase demand for Thai rice.

Prices of Thai 5% broken rice are quoted at around $390 per ton compared to Indian rice at around $420-$430
per ton and Vietnamese rice at around $400 per ton. According to data from TREA, Thailand exported around
3.93 million tons of rice in January 1 - May 20, 2014 period. The military government, which took over on May
22, 2014, has prioritized payments of about 9 billion baht (around $2 billion) to nearly 800,000 rice farmers. It
aims to complete all payments by June 22, 2014.USDA estimates Thailand to export around 9 million tons of
rice in 2014, up about 34% from about 6.7 million tons exported in 2013. It estimates Thai exports to increase
to 10 million tons in 2015. USDA estimates Thailand's 2014 ending stocks at 13.8 million tons.

Tags: Thailand rice exports, Thai Rice Exporters Association

Bangladesh to Import 200,000 Tons of Rice in 2014-15
Jun 04, 2014
Bangladesh government will import 200,000 tons of rice in the fiscal year 2014-15 (July 2014 - June 2015) to
replenish government rice reserves and ensure food security, reports Reuters.
In the ongoing fiscal year 2013-14, Bangladesh government has imported only 3,060 tons of rice as on June 2,
2014, according to data from the Food Ministry. However, 371,500 tons of rice has been imported by the
private sector so far in FY 2013-14 mainly due to lower international rice prices relative to domestic
prices.According to Bangladesh's Directorate General of Food (DGF), the government is planning to procure a
total of 1.5 million tons of rice locally during FY 2014-15.Bangladesh government rice stocks stood at 638,020
tons as on June 2, 2014, up about 4% from about 611,800 tons during the same period last year. The current
target for rice imports and procurement may be changed depending on food situation, said the Head of DGF.
UNs Food and Agriculture Organization (FAO) and USDA estimate Bangladesh to import 400,000 tons
(including government and private sector) in 2014.


U.S. Private Weather Agencies Predict Weak El Nio in 2014
Jun 04, 2014
The U.S.-based Commodity Weather Group (CWG) and the U.S-based AccuWeather Inc have predicted a weak
El Nio pattern in 2014 due to the weakening of the warm pool of water below the surface of the Pacific Ocean
leading to significant weakening of trade winds, reports Bloomberg.CWG predicted a 65% probability for a
weak El Nio pattern and a 35% probability for a moderate El Nio pattern; and AccuWeather predicted a 80%
chance of a weak El Nio pattern. AccuWeather expects El Nio to set in during July 2014 and last for next six
to eight months. The predictions bring some hope of economic damage being lower than expected.
El Nios are caused by periodic rise in the sea surface temperature of the Pacific Ocean. Most of the weather
agencies, including the UN's World Meteorological Organization and the U.S. Climate Prediction Center have
predicted more than 65% probability of an El Nio pattern developing in June/July this year.

The Australian Bureau of Meteorology (ABM) released a report on Tuesday saying there is a 70% chance of the
El Nio pattern developing in August 2014, and would severely impacting southwest monsoon (June -
September) in India and leading to droughts in several parts of Asia, Australia and South America; and floods in
North America. The ABM report stated that sea surface temperatures in the tropical Pacific Ocean have been
increasing since February and are greater than +0.5 degrees Celsius in most of the eastern hemisphere. It
however, stated that the above-average sea surface temperatures have still not extended into the western tropical
Pacific, which means El Nio incidence on the western hemisphere is not clear.Meanwhile, Indian
Meteorological Department (IMD) is expecting southwest monsoon to hit India's western coast in next two days
and advance into north-eastern states in next week. IMD noted that it is closely monitoring the impact of El
Nio on Indian monsoon in June and July as rainfall in these two months is critical for kharif/summer crop
sowing.

In April, IMD predicted a 60% chance of an El Nio developing; and forecasted 23% chances of a 'deficit'
monsoon and 33% chances of a 'below-normal' monsoon and 35% chances of a 'normal' monsoon in India.
IMD's next prediction is expected soon after the onset of the southwest monsoon next week.Thai
Meteorological Department (TMD) is also predicting rainfall during July - October 2014 to be below 30-year
average and likely impact agriculture in rain-fed areas. Thailand has a total arable land of about 22.4 million
hectares, of which only 4.8 million hectares is irrigated and the remaining 17.6 million hectares is rain fed and
depends on monsoons.

Tags: El Nio, Argentina rice production
Brazil Paddy Rice Index Slightly Up from Last Week
Jun 04, 2014


The Brazilian paddy rice index maintained by CEPEA reached around 36.83 real per 50 kilograms as of June 2,
2014, up about 0.6% from around 36.6 real per 50 kilograms recorded on May 26, 2014.In terms of USD per
ton, the index reached at about $329 per ton (using historical exchange rates) on June 2, 2014, down about 0.3%
from about $330 per ton (using historical exchange rates) recorded on May 26, 2014.

Tags: Brazil paddy rice index
Asia Rice Quotes Unchanged Today
Jun 04, 2014
Asia rice sellers kept their quotes mostly unchanged today.

5% Broken Rice


Thai 5% rice (of new crop) is quoted at around $375 - $385 per ton, about $25 per ton lower than Viet 5% rice
quoted at around $400 - $410 per ton. Indian 5% rice is quoted at around $435 - $445 per ton, about $10 per
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 $345 - $355 per ton, about $15 per ton lower than Viet 25%
rice quoted at around $360 - $370 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 $415 - $425 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 $25 per ton lower
than Viet broken rice quoted at around $335 - $345 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, Indian rice prices, pakistan rice prices

Oryza Global Rice Quotes
June 4th, 2014
Long grain white rice - high quality
Thailand 100% B grade 390-400
Vietnam 5% broken 400-410
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 345-355
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 415-425
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% 945-955
Vietnam Jasmine 525-535
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

5th June, 2014 Daily Exclusive ORYZA E-Newsletter by Riceplus Magazine

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