Cambodia Rice News: World Rice News: Rice exports decrease in first half

Rice exports decrease in first half

HCM CITY — Rice exports fell in both volume and value terms in the first half of this year, the Viet Nam Food Association has said.

Exporters shipped 3.4 million tonnes for a free-on-board (FOB) value of US$1.5 billion, a reduction of 15.1 per cent in value and 12.7 per cent in quantity.

Speaking at a meeting held in HCM City yesterday to review rice exports in the first half and draw up plans for the second, Pham Van Bay, the VFA's deputy chairman, said the average price was $458.9 per tonne, a year-on-year decrease of $13.03.

China was the largest buyer, followed by Africa and the Philippines, he said.

High-grade rice accounted for nearly half of the shipments – a 52.6 per cent increase – as Viet Nam took advantage of the higher prices of Thai rice to boost its own exports, he said.

India's resumption of export and the entry of Myanmar into the low-grade variety market shrunk the market share of Vietnamese low-grade rice, since they both offered low prices.

VFA chairman Truong Thanh Phong said since export of low-grade rice was set to become harder, authorities should persuade farmers to reduce cropping of these varieties.

Bay said both the Food and Agriculture Organisation and the US Department of Agriculture had forecast global output to outstrip demand this year.

"With the fierce competition that would bring, prices are unlikely to harden during the rest of the year," he said.

India would continue to sell at low prices to reduce its large stockpile, he said.

Because of its higher prices, Thailand had accumulated a large inventory, and there would be pressure on the country to liquidate it, he said.

Deputy Minister of Industry and Trade Nguyen Thanh Bien, said if Thailand slashes prices to boost exports, it would be a big hurdle for Viet Nam's rice exports.

He urged the association to keep a close eye on global developments and its members informed.

He urged exporters to promote the Vietnamese rice brand in the global market.

Delegates at the meeting agreed that China would continue to be a key export market for the rest of this year, but warned that there would be payment risks attached to that market.

They hailed the setting up of a trade promotion centre in China, saying it would help resolve issues related to export.

South Korea and Japan were promising markets for Vietnamese rice, Le Tuan, director of the Vinh Long Import-Export Joint Stock Company, said.

But they set the quality bar very high, he said.

So, to find new markets for Vietnamese rice, enterprises should work with farmers to produce rice that meet the two nations requirements, he added.

Viet Nam targets exports of 2.3 million tonnes in the third quarter, including 800,000 tonnes this month.

— VNS/6July2012

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Cambodia Rice News: World Rice News: Prices of rice dumplings remain despite rise in fuel costs

Prices of rice dumplings remain despite rise in fuel costs

SINGAPORE: It's good news for consumers in this year's Chinese rice dumpling season as the prices of the delicacy are staying the same at some shops.

Retailers Channel NewsAsia spoke to said fuel prices may have risen in recent months.

But the cost of ingredients have stayed the same.

Shop owners said they have been able to hold prices because of the highly competitive market.

A key challenge this year though, is finding the necessary temporary staff, to pump up production for the peak period.

Managing director of Eastern Rice Dumpling Lim Cheng Hwee said: "In the past, we pay about S$1,500, S$1,600 a month for a part-time (worker). But this time round, I even offered S$2,000 a month, after speaking they didn't turn up for the job, so it's quite a headache.

"We're even considering getting students, like junior college and university students as part timers, since the festival falls within their holiday period."

- CNA/ck:16June2012

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Cambodia Rice: World Rice News: Thailand Rice Exporters Request Immediate Release of Rice Stocks

Thailand Rice Exporters Request Immediate Release of Rice Stocks

Thai rice exporters have urged the government to release rice stocks immediately in transparent bids as their own stocks have declined due to the rice mortgage scheme.

Exporters say that the government rice mortgage scheme has swelled government stockpiles while the rice stocks of local traders and exporters have dipped significantly.

However, it is unlikely that the government will release rice before next month. Yesterday, the Commerce Minister said yesterday that the government is planning to release rice from stockpiles in July, after the phase 2 of the mortgage scheme ends. He also hinted that the government is unaffected by the slump in rice exports because it has struck several government to government deals with several countries.

The Commerce minister revealed that Thailand recently sold 260,000 tons of rice to Côte d'Ivoire and 250,000 tons to Bangladesh, and that Thailand is in talks with the Philippines and Indonesia over rice exports.

Source: Oryza/12June2012

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Cambodia Rice: World Rice News: Thailand will still be top rice exporter

Thailand will still be top rice exporter

Thailand would be able to maintain its position as the world’s largest rice exporter this year, permanent secretary for commerce Yanyong Puangraj said on Tuesday.

Thailand exported 2.6 million tonnes of rice, worth 53.67 billion baht, from Jan 1 to May 17 and became the world's largest exporter.

The US took second place, exporting two million tones of rice and Vietnam third place with its 1.6 million tonnes of rice exported during the same period, said Mr Yanyong.

The average rice export price increased by 20 per cent to US$669 per tonne, from US$566, showing that the world market still wanted Thai rice even with its price raised by the price pledging scheme, he added.

The permanent secretary expected rice exports would total at least nine million tonnes this year.

“Thailand will be able to maintain its world number one rice exporter status. In the past we focused on export quantity in keeping the championship post. But now we will also emphasise our rice’s quality standard and are looking at more premium markets,” Mr Yanyong said.

He said his ministry expected the world market price of Thai Hommali rice would increase by five per cent to US$1,200 a tonne and by 15 per cent to US$700 per tonne for white rice. This would allow the domestic price of paddy to stand at 15,000-20,000 baht per tonne.

Kobsuk Iamsuree, chairwoman of the Thai Rice Exporters Association, disagreed with the ministry’s rice exports projection for 2012. She said her association still predicted rice exports for the year at only 6.5 million tonnes.

If the government is to increase rice exports to nine million tonnes, as planned, it would have to get it done through a government-to-government selling agreement, said Ms Kobsuk.

The baht had now weakened to 31 baht to the US dollar, lowering the price of Hommali rice to US$1,080 a tonne, from US$1,100. If the rice price is to reach US$1,200 a tonne, the value of the Thai currency must be strengthened to 25-26 baht to the dollar, she said.

“Through goverenment-to-government negotiations, the state might get a better price, but it is certain that the price would not be that high if the deals are made between private firms,” said Ms Kobsuk.

Source: Bangkokpost/22May2012

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Cambodia Rice: World Rice News: South Korea Tenders to Buy 98,982 Tons of Rice

South Korea Tenders to Buy 98,982 Tons of Rice

South Korea has announced a tender to import 98,982 metric tons of non-glutinous brown rice. A bulk of those imports or 37,636 tons will be allotted to China, said Korea Agro-Fisheries & Food Trade Corp., the state rice buying agency.

The last date for submissions of bids is June 19, 2012. Delivery is expected to take place between September and November.

Source: Oryza

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Cambodia Rice: Asian Rice Sellers Keep Quotes Unchanged

Cambodia Rice: Asian Rice Sellers Keep Quotes Unchanged

Viet rice sellers are out today due to a national holiday. Thai, Indian, and Pak rice sellers kept their quotes unchanged.

Thai 5% rice is quoted about $530 - $540 per ton, about a $100 per ton premium over Viet 5% rice was last quoted around $430 - $440 per ton. Indian 5% rice is indicated around $435 - $445 per ton, about a $30 per ton discount to Pak 5% rice shown around $465 - $475 per ton.

Thai 25% rice was last quoted around $510 - $520 per ton, about a $125 per ton premium over Viet 25% rice was last quoted around $385 - $395 per ton. Indian 25% rice is indicated around $375 - $385 per ton, about a $25 per ton discount to Pak 25% rice shown around $400- $410 per ton.

Thai parboiled rice is quoted about $585 - $595 per ton. Indian parboiled rice is indicated around $420 - $430 per ton, about a $35 per ton discount to Pak parboiled rice shown around $455 - $465 per ton.

Thai broken rice, A1 Super, is quoted around $530 - $540 per ton, about a $185 per ton premium over Viet broken rice was last quoted $345 - $355 per ton. Indian broken sortexed rice is quoted about $325 - $335 per ton, about a $30 per ton discount to Pak broken sortexed rice indicated around $355- $365 per ton. Source: Oryza

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Cambodia Rice: World Rice Exports to Shrink While India and Pakistan Grab Market Share, Says IGC

Cambodia Rice: World Rice Exports to Shrink While India and Pakistan Grab Market Share, Says IGC

The International Grains Council (IGC) forecasts 2012 rice exports from India and Pakistan will grow significantly even as the total global rice exports will decline by about 7.62% from 34.1 million tons in 2010-11 to 31.5 million tons in 2011-12, a steeper decline than that predicted by the USDA and FAO.

In its latest Grain report, the IGC said that India’s rice exports will grow to around 5 million tons in 2012, an increase of around 32% year over year. Pakistan rice exports will also grow to around 3 million tons in 2012. According to the IGC, the two South Asian nations will dent the market share of other origins listed as the world’s top 5 rice exporters: Thailand, Vietnam and the U.S. Thailand will remain the top rice exporter, but Thai rice exports are expected to reduce from 10.5 million tons in 2010-11 to 7.2 million tons in 2011-12, a decrease of over 31%. Vietnam rice exports are also expected to decline from 7.1 million tons in 2010-11 to 6.5 million tons in 2011-12. Exports from the U.S. are estimated to decline from last year’s 3.5 million tons to 2.9 million tons this year.

The IGC attributes the reduction in rice exports to reduced demand form top rice importers in South East Asia. The Philippines is forecast to increase its rice imports from 1.2 million tons last year to 1.7 million tons in 2011-12, according to IGC figures. Indonesia’s rice imports are expected to reduce significantly from 2.6 million tons of rice in 2010-11 to 0.9 million tons in 2011-12, a decline of nearly 65%. In 2012, Bangladesh is expected to halve its rice requirements form 1.4 million tons last year to around 0.7 million tons in 2011-12. The IGC said, “World trade in calendar 2012 is forecast to contract sharply, by 8%, to 31.5 million tons, owing to significantly reduced shipments to markets in Far East Asia.”

The IGC report also said that global rice output will grow up by 2% to around 459 million tons and the year will end in a surplus of around 98.1 million tons of rice, which is the highest in nine years.

Recently, the Food and Agriculture Organization of the UN (FAO) had estimated in its outlook for 2012 rice exports that weakening demand from Asian importing nations, which have a comfortable domestic supply, will cause a small decline from 34.3 million tons in 2011 to 33.8 million tons in 2012. FAO said the shortfall in exports will stem from Thailand’s being made uncompetitive due to its rice pledging scheme. The FAO has predicted, “Much of the shortfall in Thai deliveries is likely to be met by larger shipments from India, following the lifting of export restrictions. Australia, China, Pakistan and Vietnam are also foreseen to raise exports next year, while Argentina, Brazil, Myanmar, the United States and Uruguay may witness a contraction.” The USDA is forecasting a decline of world rice exports to about 31.8 million tons. Source:Oryza

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