Thursday, August 16, 2012

Cambodia Rice News: World Rice News: Thailand Government Urged to Build 10 Million Ton Storage Space for New Rice

Thailand Government Urged to Build 10 Million Ton Storage Space for New Rice

Thailand’s Public Warehouse Organization (PWO) is urging the government to allow private companies to build additional storage space for at least 10 million tons to help the government run the rice mortgage program in future.

The executive VP of PWO revealed that it is expected that the government would have to store about 6.5 million tons of rice from the new harvesting season, while the PWO can store only 4.5 million tons.

The official suggested that about 10 private companies be allowed to construct storage space of about one million tons each. He said, "If 10 companies joined the plan and each has the capacity of one million tonnes, then we could hold up to 10 million tonnes and not be concerned about slow sales."

The PWO is considering allowing private traders to store rice under rent to the government and reducing the deposit from 100% of rice value to about 70% for private companies which join the rice mortgage program.

Thai rice exports have plunged over 45% this year after the mortgage scheme pushed rice prices higher by about $100 per ton than rivals Vietnam and India. Slow sales have resulted in record high stocks of about 11 million tons rice. Thailand's rice production in 2012-13 is estimated to reach 21.1 million tons, up 3% from 2011-12, and the government has said that the rice mortgage program will continue to 2013.

Source: Oryza/16August2012

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Wednesday, August 15, 2012

Cambodia Rice News: Cambodian Rice Exports Fall Short of Government Hopes

Cambodian Rice Exports Fall Short of Government Hopes

Cambodia’s rice exports in 2012 may fall significantly compared to last year, due to high fuel prices, soaring logistics costs and high prices.

According to local sources, Cambodian rice shipments to Europe this month are at a $200 markup per container over those from Thailand and Vietnam. They say that shipping costs to Europe has surged almost 50% in the last three months, while soaring fuel prices have pushed logistics costs higher, making Cambodian rice unattractive in the international market.

This year the Cambodian government is targeting 400,000 tons of rice exports. However, Cambodia’s milled rice exports for the first quarter 2012 is almost one-tenth of the target at 38,409 tons. Observers say that the Cambodia’s rice exports will be hit badly this year, barely reaching half of 2011 rice exports of 173,000 tons.

Cambodia is aiming to increase rice production to about 9.5 million tons by 2015, and export around 5 million tons annually. The country has signed agreements with some European nations which exempt rice imports from Cambodia of import duties. However, traders say that in May Cambodian rice became more expensive Italian rice even with tax waivers. Cambodia was slated to sign an agreement with the Philippines this week, but the deal is shaky as delays have prompted the Philippine government to say yesterday that it may forego the Cambodia deal.

Source: Oryza/18May2012

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Cambodia Rice News: World Rice News: U.S. Rice Bids Fall as Crop Ratings Improve

U.S. Rice Bids Fall as Crop Ratings Improve

The U.S. cash rice market was dead today as bids from buyers dropped amid a selloff in the futures market. As of today, old crop offers from farmers declined around $14.95 per cwt delivered (about $330 per ton), while bids from mills and exporters dropped to around $14.30 per cwt delivered (about $315 per ton) and $14.40 per cwt delivered (about $317 per ton), respectively, however there were no sellers willing to entertain these bids.

As for new crop, farmers continue to ask for $15.55 per cwt fob farm (about $343 per ton) January/February/March shipment, however bids from mills and exporters were decreased to around $14.65 per cwt (about $323 per ton) and $14.90 per cwt (about $328 per cwt, respectively for the same shipment period, and as a result nothing traded. There were rumors, however, of a mill paying as much as $15.80 per cwt (about $348 per ton) for prompt delivery earlier this week, although most analysts believe that a majority of buyers are unwilling to pay that high of a price at the moment.

In the meantime, yesterday the USDA estimated that as of August 12, 83% of the U.S. rice crop has headed, compared to 79% last week, 66% this week last year, and a 70% average for the prior 5 years. As of now, the USDA estimates that 9% of the U.S. rice crop has been harvest, compared to 7% last week, 10% this week last year, and a 7% average for the prior 5 years. Currently, the USDA projects that 73% of the U.S. rice crop is in good to excellent condition, compared to 69% last week and 66% this week last year. As of now, 90% of the rice crop in California is in good to excellent condition, compared to 65% in Arkansas.

Going forward, many expect that old crop offers will start to decline as the farmers look to make room for new crop although most believe that farmers will hold on to their new crop tight as many are expecting above average yields on their corn and beans leaving them flush with cash.

Source: Oryza/14August2012

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Sunday, August 12, 2012

Cambodia Rice News: World Rice News: In Defense of Rice Scheme, Thai Officials Say Scheme Helps Other Rice Exporters

In Defense of Rice Scheme, Thai Officials Say Scheme Helps Other Rice Exporters

Thailand’s Permanent Secretary to the Commerce Ministry says representatives from the USDA plan to visit Thailand to inspect whether the rice mortgage scheme violates any World Trade Organization (WTO) rules on export subsidies, adding that such fears are unfounded.

The Commerce Ministry official said that the rice mortgage program boosts farmer income and does not lower rice prices, and thus does not give Thailand an advantage on international export markets. And, the money spent under the program cannot be called export subsidies as the money remains within the country, he added.

The official said, "No damage is incurred in the international market. The money spent on the rice pledging scheme circulates within the country…I wonder on what grounds the US is accusing us. I am ready to clarify.”

Rather than being harmed, the Commerce Secretary pointed out that the U.S. and other rice exporting countries benefit from the Thai scheme.

"A subsidy means dumping prices and hurting the competition of rivals but in this sense [Thailand's subsidy] is designed to support [farm] income and help boost domestic and export prices.” Adding “Other rice exporting nations such as the U.S. will also benefit from rising prices.”

He also noted that the subsidies of $5 billion per year that the U.S. pays its farmers and several other policies have distorted the rice market. The U.S. $158 million food aid program in Africa had hurt Thai rice exports, he alleged.

Meanwhile, the U.S. embassy has denied any U.S. plan to send USDA officials to Thailand to inspect the rice mortgage program, adding, "We have no formal position on the new Thai rice scheme, just as we have no formal position on the one before it," said embassy spokesman.

Source: Oryza/10August2012

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Thursday, August 9, 2012

Cambodia Rice News: World Rice News: Vietnam Plans New Model for Rice Reserve Program

Vietnam Plans New Model for Rice Reserve Program

Following Vietnam’s Agriculture Ministry’s allegations that farmers are unable to benefit from the rice reserve purchase program, the Deputy Agriculture Minister has asked his ministry and the Vietnam Food Association (VFA) to find out ways to ensure profits for rice farmers.

The Vietnamese government introduced the rice reserve purchase program to help stabilize prices during the harvest season when rice prices usually dropped sharply due to anticipation of increased supplies and a shortage of storage space.

Recently, the government ordered the VFA to buy half a million to one million tonnes of rice for the reserve with the help of private companies which received interest-free loans for buying rice from farmers. The move was aimed to ensure that farmers get at least 30% profits.

The VFA claims that the participating companies have completed their purchases and rice farmers have been paid high prices. However, the Agriculture Ministry contends that farmers could not get good prices for their crop because most of them had already sold their paddy to traders (at lower prices) before the program began.

In response, the Deputy Agriculture minister has asked the ministry and VFA to develop models under the rice reserve purchase program that will ensure that farmers get at least 30% profits.

Allowing farmers to store paddy in their houses and at cooperative storage facilities with interest-free bank loans for those storing more than 5 tons of paddy are among the suggestions. Food companies that agree to buy paddy directly from farmers will also be eligible for such loans.

Source: Oryza/9August2012

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Wednesday, August 8, 2012

សេចក្តីជូនដំណឹងស្តីពីការប្រលងចូលក្របខណ្ឌក្រសួងកសិកម្ម រុក្ខាប្រមាញ់ និងនេសាទ

សេចក្តីជូនដំណឹងស្តីពីការប្រលងចូលក្របខណ្ឌក្រសួងកសិកម្ម រុក្ខាប្រមាញ់ និងនេសាទ

ក្រសួងកសិកម្ម រុក្ខាប្រមាញ់ និង​នេសាទ សូម​ជូនដំណឹង​ជា​សាធារណៈ​ដល់​សិស្ស និង​និស្សិត​ទាំង​ពីរភេទ ឱ្យបាន​ជ្រាបថា ក្នុង​ឆ្នាំ២០១២នេះ ក្រសួង​ត្រូវការ​ប្រឡងប្រជែង​ជ្រើសរើស​អ្នកបច្ចេកទេស​ចំនួន១៦០នាក់ សម្រាប់​បម្រើការ​ងារ​នៅ​អង្គភាព​ថ្នាក់កណ្តាល និង​មន្ទីរ​កសិកម្ម​ខេត្ត។ សម្រាប់​ព័ត៌មាន លំអិត​សូម​ធ្វើការ​ទំនាក់​ទំ​នាង​ដោយផ្ទាល់​ជាមួយ​នាយកដ្ឋាន បុគ្គលិក និង​អភិវឌ្ឍន៍​ធនធានមនុស្ស នៃ​ក្រសួងកសិកម្ម រុក្ខាប្រមាញ់ និង​នេសាទ។

....

សំគាល់៖
កាលបរិច្ឆេទ ឈប់ទទួលពាក្យសុំចុះឈ្មោះប្រឡង ចាប់ពីផ្សាយដំណឹង រហូតដល់ ថ្ងៃទី ២៤ ខែ សីហា ឆ្នាំ ២០១២!!!

ប្រភព៖  ឯកសារភ្ជាប់របស់ក្រសូងកសិកម្ម រុក្ខា ប្រមាញ់ និង​នេសាទ

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Cambodia Rice News: World Rice News: Vietnam Considers Biannual Rice Purchase Targets to Stabilize Prices

Vietnam Considers Biannual Rice Purchase Targets to Stabilize Prices

Vietnam’s Ministry of Agriculture and Rural Development (MARD) is considering setting biannual rice purchase targets for rice companies to stabilize prices and help farmers get better returns for their crop.

Rice prices in Vietnam usually plunge during the harvest season. While Vietnam’s rice exports have increased significantly in the last three months, prices have remained low, plunging almost 15% in July from average prices of around $463 per ton in June, mainly due to the onset of the new harvest season.

MARD held a meeting with industry experts last week to discuss changes in rules and regulations about the rice purchase process. The Deputy Minister said that the existing rules have to be modified because the government has little control over the rice companies which rarely bought rice directly from farmers. The MARD suggests that rice purchasing targets should be set and support be extended to farmers and rice buying companies during harvest periods to boost prices and profits.

According to the new rules proposed by MARD, one million tons of the winter-spring rice crop would be bought every year in February and March and held in temporary reserve. The ministry also recommends buying 1-1.5 million tons of the summer-autumn rice crop between July and September and stored for sales later. The Vietnam Food Association (VFA) will sell the rice to food companies, while the Ministry of Finance and the State Bank of Vietnam will provide the necessary capital for the rice buying programs, said MARD.

It's not yet clear if the rice will be bought at a set minimum price.

Last month the Vietnam Prime Minister asked the Vietnam Food Association (VFA) to encourage rice companies to buy half a million tons of rice between July 10 and August 10 to help boost prices but so far only about 250,000 tons had been bought.

Vietnam’s total rice exports from January to July 2012 have reached around 4.18 million tons, up about 10% from the 3.78 million tons exported in the same period last year. Vietnam is targeting exports of 2.1 million tons in the third quarter to help the nation meet its 2012 target of exporting 6.5 to 7 million tons of rice.

Source: Oryza/7August2012

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Tuesday, August 7, 2012

Cambodia Rice News: World Rice News: India, Vietnam rice exports to surpass Thailand in 2012

India, Vietnam rice exports to surpass Thailand in 2012

PHUKET: A Thai trade researcher has concurred with a recent prediction by the United States Department of Agriculture (USDA) that India and Vietnam will export more rice than Thailand this year.

Thanawan Phonwichai, the Director of the Business and Economics Forecasting Center at the Thai Chamber of Commerce University said that Thailand is expected to lose its crown as the world’s top rice exporter due to an increasingly competitive regional market.

"Consistent with the USDA’s prediction, India this year is producing a lot of rice at lower prices. This has caused Vietnam to lower its prices to be more competitive.

"At the same time Thailand has not lowered its prices due to its base costs being a lot higher. As a result, we expect that India will export 8 million tonnes this year, followed by Vietnam exporting about 7, and Thailand just 6.5 million tonnes," he said.

According to the USDA, the predicted figure will equate to a 39% annual decline in the Kingdom’s rice exports.

Mr Thanawan added that he expects Thailand to reclaim its top position in 2013, however, when his department predicts that Thailand will export 8mn tonnes, followed by Vietnam with 7mn tonnes and India at 6mn tonnes.

In a related article by The Nation, it was reported that Thailand only exported 4.7mn tonnes between October, last year and July, 2012, about half when compared to the same period a previous year, when nearly 9mn tonnes were exported.

Export value also declined from 160 billion baht in the previous year to about 100bn baht this year, according to the Thailand Development Research Institute (TDRI).

The TDRI attributed the fall mainly to the government’s rice-mortgage policy.

The rice-pledging policy had destroyed the competitiveness of Thai rice in the world market because the government’s mortgage prices were a lot higher, TDRI President Nipon Poapongsakorn said.

Mr Nipon pointed out that Thailand would suffer a loss of 87bn to 100bn baht immediately if the government decided to release 10.2 million tonnes of rice in its stocks, noting that the pledging price is high while the current market price is still low.

Thailand will end up losing US$75 to US$77 (2,364 to 2,427 baht) per ton if it sells at the current market price, and this would not include the cost of pledging – about 260bn baht.

"Thailand is losing huge amounts on subsidies that are helping, not just poor farmers but also landlords and rich farmers, because the government is accepting all the rice that is entered in the pledging scheme.

"More than 52% of the rice entered in the pledging scheme comes from rich farmers," Nipon explained.

He added that if the government changed its pledging measure to providing direct subsidies to a particular group of small farmers, then it would only spend about 30bn to 40bn baht a year.

According to TDRI, about 80% of Thai farmers are small, producing only about 10 tonnes of rice per harvest.

Source: PHUKET NEWS/7August2012

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Friday, August 3, 2012

Cambodia Rice News: World Rice News: Asian Rice Quotes Mixed

Asian Rice Quotes Mixed

Thai rice sellers lower their quotes for 5% broken rice by about $5 per ton to about $560 - $570 per ton and increased their quotes for Parboiled rice by about $5 per ton to about $560 - $570 per ton. Viet rice sellers increased their quotes for 5% broken rice by about $5 per ton to about $410 - $420 per ton. Indian rice sellers increased their quotes for 25% and 100% broken rice by about $5 and $10 per ton respectively. Pak rice sellers kept their quotes unchanged.

Thai 5% rice is quoted about $560 - $570per ton, down about $5 per ton from Wednesday and about a $150 per ton premium over Viet 5% rice shown around $410 - $420 per ton, up about $5 per ton from yesterday. Indian 5% rice is quoted around $415 - $425 per ton, about a $30 per ton discount to Pak 5% rice shown around $445 - $455 per ton.

Thai 25% rice is quoted about $545 - $555 per ton, about a $170 per ton premium over Viet 25% rice indicated around $375 - $385 per ton. Indian 25% rice is quoted about $380 - $390 per ton, up about $5 per ton from Wednesday and, about a $15 per ton discount to Pak 25% rice shown around $395 - $405 per ton.

Thai parboiled rice is quoted about $560 - $570 per ton, up about $5 per ton from yesterday. Indian parboiled rice is quoted around $400 - $410 per ton, about a $70 per ton discount to Pak parboiled rice shown around $470 - $480 per ton.

Thai broken rice, A1 Super, is quoted about $505 - $515 per ton, about a $155 per ton premium over Viet broken rice shown around $350 - $360 per ton. Indian broken sortexed is quoted about $345 - $355 per ton, up about $10 per ton from Wednesday, and about a $10 per ton premium to Pak broken sortexed rice indicated around $335- $345 per ton.

Source: Oryza/3August2012

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Thursday, August 2, 2012

Cambodia Rice News: World Rice News: Rice price pledging scheme is a total disaster

Rice price pledging scheme is a total disaster

The rice pledging scheme alone, plagued with inefficiency and corruption, is likely to result in losses to the tune of Bt100 billion.

Niphon Wongtra-ngarn, a rice expert, has called for an inspection of the government's rice stocks, following reports that there could be 3 million tonnes in fake stock.

The government now has about 15 million tonnes in its stock, accumulated from the pledging programme. Of this, 3 million tonnes might not exist. Independent inspection is likely to face a roadblock. The Commerce Ministry is desperately trying to release the rice from the warehouses via government-to-government deals.

The Thailand Research Development Institute has called for the government to completely revised its farm price intervention policy, which harms the entire rice production and trading system of the country. Still, Kittiratt Na Ranong, the deputy prime minister and finance minister, has insisted that the government will continue to implement the rice pledging scheme, one of the Pheu Thai Party's massively expensive populist policies.

The Yingluck government has set aside Bt400 billion for the rice pledging scheme. It has spent Bt260 billion, over two harvests, to buy up paddy from farmers - with white rice at Bt15,000 per tonne and homali fragrant rice at Bt20,000 per tonne. Kittiratt said that by September the government is expected to use the remaining Bt170 billion in the budget to purchase more rice from farmers in order to fulfil its policy obligation.

The rice price pledging scheme is funded largely via borrowing. The FinanceMinistry has borrowed short-term money to the tune of around Bt260 billion to finance the scheme, operated by the Bank for Agriculture and Agricultural Cooperatives.

The whole Bt400 billion pledging scheme looks like a black hole. Nobody knows what is going on. The full extent of the losses will be learnt only when the Bank for Agriculture and Agricultural Cooperatives announces the operational outcomes. The rice pledging and selling operation is not transparent.

The following is from the United States Department of Agriculture's latest report on the global rice trade, issued in July:

"Prices have not returned to their pre-2008 pattern when quotes from Thailand, India and Vietnam generally moved together, and the gaps between them were narrow. Since the 2008 spike, quotes have converged and diverged, with gaps between suppliers occasionally surpassing US$200 per tonne. This has been the case since May, when Thai quotes jumped while Vietnamese and Indian quotes fell. The paddy pledging scheme in Thailand is keeping prices artificially high, while in India, massive stocks are pushing prices down. Like most of the price movements since 2008, the current divergence is linked to policy rather than to changes in supply or demand."

According to the US Department of Agriculture, Thailand has lost its world's No 1 rice exporting country status. Normally, Thailand exported 9 to 10 million tonnes of rice a year. But in the 2011 and this year so far, Thailand has exported only 6.5 million tonnes due to the phigh prices set by the rice pleding scheme, compared to 7 million tonnes for Vietnam and 8 million tonnes for India. The more Thailand exports, the more losses it will incur because the pledged price is higher than that on the world market. From fears of food insecurity and food inflation due to drought and natural disaster over the past few years, the situation has turned in favour of the buyers' market. Countries like China and Indonesia offer better bargains when it comes to prices for their rice exports.

In the 2012-2013 season, the situation will gradually turn around for Thailand's rice exports, when the country will export 8 million tonnes, followed by Vietnam's 7 million tonnes and India's 6.5 million tonnes.

If the policy does not work, the government should not continue to shoot itself - and the country - in the foot. The rice price pledging scheme must stop now before it creates even further damage and empties the government's coffers.

Source: TheNation/3August2012

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Wednesday, August 1, 2012

Cambodia Rice News: World Rice News: U.S. Rice Exporters Concerned About Falling River Levels

U.S. Rice Exporters Concerned About Falling River Levels

The U.S. cash rice market was quiet today as buyer and seller ideas remain about $0.50-$1.00 per cwt apart (roughly $11-$22 per ton). As of today, old crop offers from farmers were still hard to come however small lots could be found around $15.15 per cwt delivered (about $334 per ton), while offers from resellers pulled back with the futures market, although both offers generated only marginal interest.

Old crop bids from mills and exporters could still be seen around $14.65 per cwt delivered (about $323 per ton) while new crop bids for September delivery could be found at similar levels, however there are no takers at this time.

In the meantime, the drought that has plagued much of the U.S. this summer and decimated crops is now having an impact on marine transport activity on the lower Mississippi River. Currently, receding water levels on the Mississippi River are creating a logistical nightmare for rice exporters as water levels at several barge loading facilities are too low to load barges to full capacity and in some cases even at all. However, it's expected that river levels will rise about 4 feet this week, which may ease concerns for a bit, although many expect that this will be short lived.

Going forward, some analysts expect that falling river levels will create a backup of incoming rice at receiving facilities after the rice harvest and that this could ultimately lead to a wider basis (the difference between the cash and futures price) as traders look for places to move their rice.

Source: Oryza/31July2012

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Cambodia Rice News: World Rice News: Burma Traders Urge China to Reduce Import Tariffs on Rice Imports

Burma Traders Urge China to Reduce Import Tariffs on Rice Imports

Rice traders in Burma have urged China to roll-back the steep hike in rice import tariffs on Burmese rice, saying the move has hurt their profits while encouraging smuggling of rice across borders into China.

Local traders in Burma say that China has increased the rice import tariffs to 65% after the change in government in Burma. They add that China has also made it difficult for rice traders in China to avail loans to trade with Burma.

Meanwhile, smuggled Burmese rice into China is on the rise, reportedly at around 2,500 tons of rice every day. Traders involved in such illegal exports say that smuggling results in losses to Burmese rice traders because they have to sell their rice to Chinese farmers across the border at low prices. Burmese traders say that while the Burmese government has removed taxes on export of rice to promote exports, they are unable to benefit from the move.

Burma’s Minister for Commerce says that China has placed barriers on rice trade with Burma because Burma rice is considered low quality by World Trade Organization standards. “However, we will ask Chinese government representatives to reconsider this position and reduce export fees,” he said.

Source: Oryza/31July2012

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