issue date: 08/06/2018 - live rice index...u.s.a. - gulf lg 3 month6 month 1 yr u.s. #2, 4% broken,...
TRANSCRIPT
Issue Date 08062018
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Report Date 08062018
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Live Rice IndexTHAILAND - LONG GRAIN WHITE RICE CHANGE PRICE
100 Grade B -7 $4305 Broken -7 $42010 Broken -7 $41815 Broken -10 $41025 Broken -9 $400A1 Super 100 Broken -6 $370
THAILAND - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Hom Mali White Rice 100 Grade B +20 $1210Hom Mali White Rice A1 Super 100 Broken -2 $450Pathumthani Fragrant 100 Grade B 0 $892
THAILAND - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 100 STX -5 $420Parboiled Milled Rice 100 -5 $410Parboiled Milled Rice 5 STX -5 $415Parboiled Milled Rice 5 -5 $405
PAKISTAN - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $433 10 Broken -2 $428 15 Broken -2 $423 25 Broken 0 $390 100 Broken Rice +2 $340 386 2 Broken -5 $625
VIETNAM - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Fragrant Rice 5 Broken 0 $560KDM Fragrant Rice 5 Broken -5 $690
PAKISTAN - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 Broken STX -5 $440Parboiled Milled Rice 15 Broken STX -5 $435
PAKISTAN - BASMATI RICE (FOB FCL) CHANGE PRICE
Super Kernel White Basmati Rice 2 -10 $1040Super Kernel Brown Basmati Rice 2 0 $990Super Kernel Parboiled Milled Basmati Rice 2 0 $11001121 Steam Basmati Rice 2 0 $12501121 Parboiled Milled Basmati Rice 2 0 $1170
USA - GULF LONG GRAIN RICE CHANGE PRICE
US 2 4 Broken Hard Milled (FOB Lake Charles) 0 $650US 2 4 Broken Hard Milled (FOB bulk NOLA) -5 $535US 3 15 Broken Hard Milled (FOB bulk NOLA) -5 $525US 5 20 Broken Hard Milled (FOB Lake Charles) -5 $535US 1 Parboiled Milled 4 Broken (FOB bulk NOLA) 0 $550US 2 Paddy 5570 Yield (FOB bulk NOLA) 0 $310Southern Flour Quality Broken Rice (ex-works) 0 $353Southern Pet Food Quality Broken Rice (ex-works) +16 $325
USA - CALIFORNIAN MEDIUM GRAIN RICE CHANGE PRICE
US 1 4 Broken 0 $990US 1 Paddy 5869 Yield 0 $542
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Uruguayan Oliacutemar 5 Broken (FOB FCL) 0 $510Argentine 5 Broken (FOB FCL) -5 $485
Brazilian 5 Broken (FOB FCL) +20 $475Brazilian Broken Rice (12 Grain Brokens) (FOB Bulk) -5 $320Paraguayan 5 Broken (FOB FCL) +5 $400
EGYPT - WHITE RICE CHANGE PRICE
Medium Grain 2 5 Broken - NQMedium Grain 3 10 Broken - NQRound Grain 2 5 Broken - NQRound Grain 3 10 Broken - NQ100 Broken Rice Grade 0 - NQ
S AMERICA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Brazilian Parboiled Milled 5 Broken STX (FOB FCL) +20 $475Uruguayan Parboiled Milled 5 Broken STX (FOB FCL) +3 $515
THAILAND - LONG GRAIN GLUTINOUS RICE CHANGE PRICE
White Glutinous Rice 10 Broken -15 $627White Glutinous Rice 10 Broken (Sanpathong) -32 $640White Glutinous 100 Broken Rice A1 0 $515
VIETNAM - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken +5 $45310 Broken +5 $44815 Broken +2 $44225 Broken -4 $425100 Broken Rice +3 $378
B
B
B
B = INDICATES BENCHMARK
B
CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka MalisPhka Rumduol (Wet Season) 5 Broken STX -65 $980Sen Kra ObSen Pidao (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
For more information on our price assessments please visit httplivericeindexcommethodology
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MYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice 0 euro510Arborio 5 broken white rice 0 euro650
VIETNAM - LONG GRAIN GLUTINOUS RICE CHANGE PRICE
White Glutinous Rice 10 Broken 0 $492
USA - GULF LG 3 Month 6 Month 1 Yr
US 2 4 Broken Hard Milled (FOB Lake Charles) 181 142 118US 2 4 Broken Hard Milled (FOB bulk NOLA) 32 50 81US 3 15 Broken Hard Milled 33 51 83US 5 20 Broken Hard Milled 32 50 84US 1 Parboiled Milled 4 Broken 77 77 124US 2 Paddy 5570 Yield 120 135 133Southern Flour Quality Broken Rice 179 174 143Southern Pet Food Quality Broken Rice 150 124 122
LRI Historical Volatility Index - 3 Month 6 Month amp 1 YearTHAILAND - LG WR 3 Month 6 Month 1 Yr
100 Grade B 111 156 1615 Broken 113 160 16510 Broken 119 163 16615 Broken 107 150 15425 Broken 113 143 138A1 Super Broken 92 85 73
THAILAND - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 100 STX 116 155 169Parboiled Milled Rice 100 119 159 173Parboiled Milled Rice 5 STX 118 157 171Parboiled Milled Rice 5 121 161 175
THAILAND - LG FRAGRANT RICE 3 Month 6 Month 1 Yr
Hom Mali White Rice 100 Grade B New 129 147 191Hom Mali White Rice A1 Super 75 133 120Pathumthani Fragrant 100 Grade B 85 143 252
PAKISTAN - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 5 Broken STX 129 118 111Parboiled Milled Rice 15 Broken STX 131 119 113
PAKISTAN - BASMATI RICE 3 Month 6 Month 1 Yr
Super Kernel White Basmati Rice 2 69 219 189Super Kernel Brown Basmati Rice 2 73 178 216Super Kernel Parboiled Milled Basmati Rice 2 74 161 1811121 Steam Basmati Rice 2 87 NA NA1121 Parboiled Milled Basmati Rice 2 57 NA NA
VIETNAM - LG FRAGRANT RICE 3 Month 6 Month 1 Yr
Fragrant Rice 5 Broken 95 83 98KDM Fragrant Rice 5 Broken 333 263 213
INDIA - BASMATI RICE 3 Month 6 Month 1 Yr
Traditional White Basmati Rice 2 137 142 164Traditional Brown Basmati Rice 2 164 209 227Traditional Parboiled Milled Basmati Rice 2 197 180 179Pusa White Basmati Rice 2 116 152 158Pusa Brown Basmati Rice 2 167 155 173Pusa Parboiled Milled Basmati Rice 2 163 202 2081121 White Basmati Rice 2 128 250 2081121 Parboiled Milled Basmati Rice 2 133 170 252
USA - CALIFORNIAN MG 3 Month 6 Month 1 Yr
US 1 4 Broken 151 117 131US 1 Paddy 5869 Yield 70 66 133
S AMERICA - LG WR 3 Month 6 Month 1 Yr
Uruguayan 5 Broken 42 35 55Uruguayan Oliacutemar 5 Broken NA NA NAArgentine 5 Broken 49 41 53Brazilian 5 Broken 128 148 113Brazilian Broken Rice (12 Grain Brokens) 59 53 97Paraguayan 5 Broken 164 NA NA
S AMERICA - LG PB 3 Month 6 Month 1 Yr
Brazilian Parboiled Milled Rice 5 Broken STX 110 164 129Uruguayan Parboiled Milled Rice 5 Broken STX 18 16 47
THAILAND - LG GLUTINOUS RICE 3 Month 6 Month 1 Yr
White Glutinous Rice 10 Broken 187 554 402White Glutinous Rice 10 Broken (Sanpathong) 220 536 389White Glutinous Broken Rice A1 128 586 419
VIETNAM - LG WR 3 Month 6 Month 1 Yr
5 Broken 87 162 14010 Broken 86 158 13815 Broken 78 153 13325 Broken 107 162 139Broken Rice 103 123 109
B
B = INDICATES BENCHMARK
B
CAMBODIA - LG WR 3 Month 6 Month 1 Yr
5 Broken 82 90 8410 Broken 83 88 8425 Broken 147 137 113A1 Super Broken 109 218 190
CAMBODIA - LG FRAGRANT RICE 3 Month 6 Month 1 Yr
Phka Malis(Wet Season) 5 Broken STX 204 179 156Sen Kra Ob (Dry Season) 5 Broken STX 165 143 175Fragrant 100 Broken A1 Super 73 253 214
INDIA - LG WR 3 Month 6 Month 1 Yr
5 Broken 74 86 8025 Broken 50 76 96100 Broken Rice 62 92 100Swarna 5 Broken 236 185 170Sharbati 2 Broken 99 191 169
INDIA - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 5 STX 61 63 114
PAKISTAN - LG WR 3 Month 6 Month 1 Yr
5 Broken 238 190 16710 Broken 239 191 16715 Broken 242 195 17025 Broken 179 156 145100 Broken Rice 128 107 89386 2 Broken 80 133 166
Volatility Index ExplainedHistorical Volatility is a measure of how much how fast and how often prices change over time It is stated as a percentage () The higher the percentage the more volatile the price assessed
Example If the 3 Month volatility of Pakistani 5 broken white rice was 183 compared to 106 for Indian 5 broken whiterice Pakisani 5 broken white rice could be said to be the more volatile variety
To read the full LRI Historical Volatility Methodology please contact the team at lrilivericeindexcom
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Report Date 08062018
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B
MYANMAR - LG WR 3 Month 6 Month 1 Yr
5 Broken 71 142 11425 Broken 95 82 111B1 amp B2 Broken 65 78 99
MYANMAR - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 5 STX 60 127 98
ITALY - WR 3 Month 6 Month 1 Yr
Indica 5 broken white rice 30 44 136
Arborio 5 broken white rice 285 264 200
VIETNAM - LG GLUTINOUS RICE 3 Month 6 Month 1 Yr
White Glutinous Rice 10 Broken NA NA NA
Report Date 08062018
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Bitesize Rice News
USAbull KCCO cancels tender for
17000 MTS of white rice will retender on 12 June
bull Col-Rice holds import licence auction results are pending
(page 7)
South America bull Uruguayan exports totalled 53460 MTS during May 2018
bull Argentina sells 30000 MTS of paddy to Venezuela
(page 8)
Thailand bull TREA forecasts 2018 milled rice exports at
10 million MTS (page 5)
Bangladesh bull Government raises
rice import tariff from 2 to 28(page 12)
Vietnambull Milled rice exports totalled 243 million
MTS during January - April 2018(page 6)
Pakistan bull TCP awards the full 3000 MTS of white
rice in its 1 June domestic tender
(page 6)
Egypt bull Government will allow paddy white and brown
rice imports to cover requirements
(page 12)
Report Date 08062018
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ThailandThe Thai market was quiet and exporters lowered their parboiled and white rice offers to attract fresh demand Covering of recent tender sales to the Philippinesrsquo National Food Authority has concluded and an off-season harvest is expected to begin to arrive on to the market within the next two weeks putting additional pressure on long grain prices Thai 5 broken white rice and Parboiled 100 STX are both assessed down to US $420 PMT FOB A1 Super 100 broken white rice also closed the week assessed down to US $370 PMT FOB as supply improved There continued to be a firm undertone to the fragrant rice market with the local price of Hom Mali 100 Grade B increasing by THB 40 per 100kg (US $1250 PMT) this week according to the Department of Internal Trade Our assessment of Hom Mali 100 Grade B closed the week up to US $1210 PMT FOB FCL which is the highest ever LRI price assessment for this variety However international demand remained extremely quiet with buyers reporting that they have switched to purchasing Vietnamese KDM and Cambodian Phka Malis White Glutinous rice 10 broken is assessed down to US $627 PMT FOB FCL with slow demand reported According to the USDA Thai 2018 milled rice production is forecast to increase by 61 year-on-year to 204 million MTS This is based on favourable weather conditions in addition to expected increases in harvested area (107 million hectares +43) and the average field yield (289 MTSha +18) Substantial increases in irrigated land in the north northeast and central plains also encouraged planting Favourable financial
B
returns for fragrant rice varieties have encouraged a significant increase in fragrant rice planting in the northeast Exports are forecast to fall to 105 million MTS (milled equivalent -97) due to the liquidation of government old crop stocks Exports of white and parboiled rice between January ndash April 2018 increased by 49 and 222 year-on-year to 183 million MTS and 979230 MTS respectively However fragrant and glutinous rice exports have declined by 22 and 29 over the same period to 723397 MTS and 150910 MTS respectively Both consumption and ending stocks are expected to decrease to 115 million MTS (-42) and 275 million MTS (milled equivalent -343) respectively
Thai 2019 milled rice production is forecast to increase again to 212 million MTS (+39) with harvested area expected to rise to 111 million hectares (+43) As a result of increased production exports are forecast to rise to 11 million MTS (milled equivalent +48) Consumption is expected to continue to decline to 11 million MTS (-43) and ending stocks are forecast to increase to 319 million MTS (milled equivalent +16) The Thai Rice Exportersrsquo Association (TREA) has raised its target for 2018 exports from 95 million MTS to 10 million MTS according to local reports The revision follows better than expected sales during January ndash April Thailand exported 331 million MTS during this period which is a 38 year-on-year increase and a higher export volume than India Vietnam or Pakistan TREA attributes the export growth to improved demand from several destinations
CURRENCY THB 4 Week Range
1 USD $ 3208 3179 - 3228
THAILAND - LONG GRAIN WHITE RICE CHANGE PRICE
100 Grade B -7 $4305 Broken -7 $42010 Broken -7 $41815 Broken -10 $41025 Broken -9 $400A1 Super 100 Broken -6 $370
THAILAND - LONG GRAIN FRAGRANT RICE (FOB FCL)
CHANGE PRICE
Hom Mali White Rice 100 Grade B +20 $1210Hom Mali White Rice A1 Super 100 Broken -2 $450Pathumthani Fragrant 100 Grade B 0 $892
THAILAND - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 100 STX -5 $420Parboiled Milled Rice 100 -5 $410Parboiled Milled Rice 5 STX -5 $415Parboiled Milled Rice 5 -5 $405
THAILAND - LONG GRAIN GLUTINOUS RICE (FOB FCL)
CHANGE PRICE
White Glutinous Rice 10 Broken -15 $627White Glutinous Rice 10 Broken (Sanpathong) -32 $640White Glutinous 100 Broken Rice A1 0 $515
B
B
Export StatisticsUnofficial and preliminary rice exports (excluding premium white and fragrant rice) for 14 - 20 May 2018 totalled 152116 MTS down by 23351 MTS from the previous week Rice exports from 1 January - 20 May 2018 totalled 3547147 MTS
Report Date 08062018
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The Vietnamese white rice market had a soft undertone as the SummerAutumn off-season crop began to arrive on to the market The bulk of the harvest is not due to arrive until midlate July and the quality of early arrivals is reportedly poor Market participants reported that local sellers are blending the WinterSpring and SummerAutumn crops with fragrant rice varieties for sales in the domestic market and that shipments to the Philippines Indonesia and Cuba are also being covered with a blend of rice from the SummerAutumn and WinterSpring crops Exporters were not willing to accept lower bids for WinterSpring crop white rice due to its higher quality and as supply tightens and 5 broken white rice closed the week assessed up to US $453 PMT FOB Offers of SummerAutumn crop 5 broken white rice were reported at around US $440 PMT FOB White rice sales remained slow although enquiries from private buyers in the Philippines were reported
Vietnam PakistanThe Trading Corporation of Pakistan awarded Garibsons the full 3000 MTS of Pakistani white rice in its 1 June domestic tender The awarded price was PKR 5367 per kg (US $462 PMT) CFR Cotonou with the rice ultimately destined for Niger Local market activity remained minimal due to slow demand and Ramadan although exporters believe that this will change after Eid al-Fitr (14 ndash 15 June) Many exporters anticipate that the Rupee will depreciate following Eid and that local traders will raise their prices in response Pakistani 5 broken white rice closed the week assessed down to US $433 PMT FOB with a normalised trade to Russia reported at this level Indian 100 broken white rice closed the week assessed up to US $340 PMT FOB as stockholders held their positions in the hope of fresh demand with limited local market trade Parboiled 5 STX closed the week assessed down to US $440 PMT FOB as lower offers were available Planting has been delayed in some areas of Sindh due to irrigation water shortages growing beliefs that the non-Basmati harvest may not begin until October have caused local sellers to hold on to their stocks According to local reports planted area in Punjab will total 44 million acres (178 million hectares) Of this total 380000 acres (153780ha) will be planted in Sailkot District 82000 acres (33184ha) will be planted in Daska 47000 acres (19020ha) will be planted in Sambrial and 180000 acres (72843ha) will be planted in Pasrur Tehsil
B
B
CURRENCY VND 4 Week Range
1 USD $ 22778 22733 ndash 22927
CURRENCY PKR 4 Week Range
1 USD $ 11588 11479 ndash 11608
Domestic demand continued to support the price of Fragrant 5 broken which is assessed unchanged at US $560 PMT FOB KDM 5 broken is assessed down to US $690 PMT FOB as lower offers were available Glutinous rice demand from buyers in China remained subdued and White Glutinous 10 broken is assessed unchanged at US $492 PMT FOB FCL
Vietnamese milled rice exports during the first four months of 2018 totalled 243 million MTS according to the USDA Exports during April totalled 791210 MTS up by 289 year-on-year Of this volume fragrant rice comprised 250707 MTS (+755) 15 broken white rice comprised 194215 MTS (+308) 5 broken white rice comprised 151410 MTS (+116) glutinous rice comprised 139913 MTS (-234) 100 broken white rice comprised 8544 MTS (-534) 25 broken white rice comprised 1965 MTS (-853) and 10 broken white rice comprised 365 MTS (-964)
For an update on local prices production and vessel loading please see page 13
VIETNAM - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Fragrant Rice 5 Broken 0 $560KDM Fragrant Rice 5 Broken -5 $690
VIETNAM - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken +5 $45310 Broken +5 $44815 Broken +2 $44225 Broken -4 $425100 Broken Rice +3 $378
B
PAKISTAN - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $433 10 Broken -2 $428 15 Broken -2 $423 25 Broken 0 $390 100 Broken Rice +2 $340 386 2 Broken -5 $625
PAKISTAN - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 Broken STX -5 $440Parboiled Milled Rice 15 Broken STX -5 $435
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The Basmati market had a firm undertone due to domestic demand as Pakistanis observed Iftar although demand from Middle Eastern buyers remained minimal Super Kernel Basmati stocks continued to tighten due to ongoing European sales although Super Kernel White Basmati 2 broken is assessed down to US $1040 PMT FOB FCL as lower offers were available Pakistani 1121 Parboiled Basmati 2 broken closed the week assessed unchanged at US $1170 PMT FOB FCL with local demand reported Demand for 386 2 broken white rice remained subdued and this variety is assessed down to US $625 PMT FOB FCL
PAKISTAN - BASMATI RICE (FOB FCL) CHANGE PRICE
Super Kernel White Basmati Rice 2 -10 $1040Super Kernel Brown Basmati Rice 2 0 $990Super Kernel Parboiled Milled Basmati Rice 2 0 $11001121 Steam Basmati Rice 2 0 $12501121 Parboiled Milled Basmati Rice 2 0 $1170
VIETNAM - LONG GRAIN GLUTINOUS RICE CHANGE PRICE
White Glutinous Rice 10 Broken 0 $492
Export StatisticsFor the period 25 - 31 May 2018 net sales of 146200 MTS were recorded for
Exports for the same period reached 208400 MTS The primary destinations were
Report Date 08062018
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USA The US Kansas City Commodity Office (KCCO) cancelled its 6 June domestic tender for 17000 MTS of US 2 7 broken long grain rice The KCCO will retender for this volume on 12 June the volume is destined for Burkina Faso Please click here for more details A Col-Rice auction was held yesterday (7 June) for 14995 MTS worth of import licences results are pending Some market participants believe that the results of this auction and the KCCOrsquos 12 June tender will signify the start of a bearish milled long grain market Aside from trade to regular buyers milled long grain demand has been minimal for months and the volatility in paddy futures pricing since the end of May has yet to affect milled rice prices US 2 4 broken white rice closed the week assessed down to US $535 PMT FOB bulk NOLA and unchanged at US $650 PMT FOB Lake Charles Due to the recent slowdown in milling US Southern Pet Food Quality broken rice is assessed up to US $325 PMT ex-works with many mills reluctant to make fresh offers for delivery before the harvest Although the USDA recorded net sales of 146200 MTS for 25 ndash 31 May (a marketing year high) 93500 MTS of this volume were late-recorded sales which were not concluded in this period The price of paddy was under pressure early in the week after the CBOT Rough Rice Futuresrsquo nearby July contract fell by US $050 per cwt (US $1102 PMT) between 4 ndash 5 June However this contract then gained US $061 per cwt (US $1345 PMT) on 6 June before falling by US $034 per cwt (US $750 PMT) on 7 June US 2 Paddy 5570 Yield is assessed unchanged
at US $310 PMT FOB bulk NOLA Paddy trade to Honduras for September shipment was reported and new crop paddy offers for October shipment were reported at US $335 PMT CIF Central American ports The KCCO awarded 1800 MTS of US 5 20 broken fortified long grain rice in its 5 June tender Supreme Rice was awarded the full volume with 1000 MTS awarded at a price of US $50772 PMT delivered intermodal bridge Houston and 800 MTS awarded at US $51353 PMT delivered intermodal bridge Houston The rice is destined for Cambodia please click here for more details In its last tender for US 5 20 broken fortified long grain rice on 2 May the KCCO awarded Beaumont Rice Mills 1600 MTS at US $49493 PMT delivered intermodal bridge Houston The KCCO will also retender for 2500 MTS of US 5 20 broken fortified long grain rice which were not awarded in its 5 June tender The retender will be held on 19 June and the volume is still destined for the Ivory Coast For more information on this retender click here Planting has now concluded in California with most market participants estimating total planted area at 505000 ndash 515000 acres (204366 ndash 208413ha) Calrose trade liquidity remained minimal and US 1 4 broken white rice closed the week assessed unchanged at US $990 PMT FAS FCL Oakland South Korearsquos Agro-Fisheries and Food Trade Corporation is considering a new medium grain tender market participants are unsure when it will be announced but delivery will be required after the new crop harvest
USA - CALIFORNIAN MEDIUM GRAIN RICE CHANGE PRICE
US 1 4 Broken (FAS FCL) 0 $990US 1 Paddy 5869 Yield (Ex-Works) 0 $542
USA - GULF LONG GRAIN RICE CHANGE PRICE
US 2 4 Broken Hard Milled (FOB Lake Charles) 0 $650US 2 4 Broken Hard Milled (FOB bulk NOLA) -5 $535US 3 15 Broken Hard Milled (FOB bulk NOLA) -5 $525US 5 20 Broken Hard Milled (FOB Lake Charles) -5 $535US 1 Parboiled Milled 4 Broken (FOB bulk NOLA) 0 $550US 2 Paddy 5570 Yield (FOB bulk NOLA) 0 $310Southern Flour Quality Broken Rice (ex-works) 0 $353Southern Pet Food Quality Broken Rice (ex-works) +16 $325
B
All figures rounded to two decimal places
Country Volume (MTS)
Mexico 134600
Haiti 30500
Colombia 28800
Guatemala 8000
Canada 1900
MonthThursdayrsquos Close Price
cwt
Net Change from Wednesday
cwt
Net Change from previous
Thursdaycwt
Thursdayrsquos Close Price
PMT
Net Change from Wednesday
PMT
Net Change from previous
Thursday PMT
July 2018 $1122 -$034 -$035 $24725 -$750 -$761September 2018 $1085 -$032 -$049 $23920 -$705 -$1080
November 2018 $1105 -$032 -$049 $24361 -$694 -$1080
January 2019 $1125 -$038 -$046 $24791 -$838 -$1014March 2019 $1125 -$038 -$046 $24791 -$838 -$1014
May 2019 $1125 -$038 -$046 $24791 -$838 -$1014July 2019 $1125 -$038 -$046 $24791 -$838 -$1014
CBOT Rough Rice Futures
Country Volume (MTS)Mexico 123900
Haiti 15000
Honduras 5000
Canada 1600
Colombia 600
State Very Poor Poor Fair Good ExcellentArkansas 1 3 26 56 14California - - 10 85 5Louisiana - 4 26 63 7
Mississippi - - 16 56 28Missouri - 5 27 51 17
Texas - 5 30 55 106 States - 3 23 62 12
State 3 June 2017
27 May 2018
3 June 2018
2013-17 Average
Arkansas 99 95 99 94California 47 42 77 72Louisiana 100 99 100 98
Mississippi 97 84 92 89Missouri 90 83 96 92
Texas 98 89 95 956 States 90 85 95 91
USDA Rice Condition () USDA Rice Emerged ()
Report Date 08062018
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The Brazilian truckersrsquo strike ended at the start of the week although exporters remained cautious about concluding fresh trade in case of continued logistical issues According to market participants trucking costs increased by around 40 following the end of the strike and freight costs increased by US $50 per FCL Although the Real depreciated by 349 from 1 ndash 7 June the average price of paddy in Rio Grande do Sul increased by 22 during the same period to BRL 3810 per 50kg (US $19525 PMT) Brazilian 5 broken white rice and Parboiled 5 STX both closed the week assessed up to US $475 PMT FOB FCL Brazilian broken rice closed the week assessed down to US $320 PMT FOB due to slow demand Results of Costa Ricarsquos 30 May tender for at least 19363 MTS of paddy are yet to be confirmed although speculation that TRC was awarded the full volume and that it would source the award from Brazil persisted Two vessels were loading rice in Rio Grande Port as of 7 June Casillo was loading 30000 MTS of paddy and Rivelin was loading 6000 MTS of rice pellets Casillo was also waiting to load a further 30000 MTS of paddy and Densa Sea Lion was waiting to be loaded with 28500 MTS of paddy
Demand from regular buyers supported Uruguayan rice prices with 5 broken white rice assessed unchanged at US $500 PMT FOB FCL Oliacutemar 5 broken white rice is also assessed unchanged at US $510 PMT FOB FCL based on reported trade to Mexico Parboiled 5 STX closed the week assessed up to US $515 PMT FOB FCL based on
South AmericaCURRENCY BRL 4 Week Range
1 USD $ 390 355 ndash 395
CURRENCY ARS 4 Week Range
1 USD $ 2498 2235 ndash 2505
CURRENCY UYU 4 Week Range
1 USD $ 3121 2902 ndash 3143
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Argentine 5 Broken (FOB FCL) -6 $490Brazilian 5 Broken (FOB FCL) 0 $460Brazilian Broken Rice (12 Grain) (FOB Bulk) -3 $325Paraguayan 5 Broken (FOB FCL) 0 $375
S AMERICA - LONG GRAIN PARBOILED (FOB FCL)
CHANGE PRICE
Brazilian Parboiled Milled 5 Broken STX +20 $475Uruguayan Parboiled Milled 5 Broken STX +3 $515 CURRENCY PYG 4 Week Range
1 USD $ 5698 5563 - 5765
Country Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TotalBrazil 2017 79290 51106 46243 37926 77181 42893 112569 60659 109450 91988 95339 65624 870268
Brazil 2018 161324 163549 193565 95845 614283
Argentina 2017 41002 29169 26097 41507 82529 19285 37269 23233 28651 43788 18362 17060 407955
Argentina 2018 11999 24543 36543
Uruguay 2017 103606 122816 27526 67382 72917 122895 87482 89557 75406 85824 74996 52695 983103
Uruguay 2018 83019 107185 25598 97464 53460 366726
Sources IRGA Ministerio de Agroindustria de Argentina Uruguay XXI
Brazilian Paddy Prices - 080617 - 070618 Source ESALQ
South American Export Statistics (MTS)
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Uruguayan Oliacutemar 5 Broken (FOB FCL) 0 $510Argentine 5 Broken (FOB FCL) -5 $485
Brazilian 5 Broken (FOB FCL) +20 $475Brazilian Broken Rice (12 Grain Brokens) (FOB Bulk) -5 $320Paraguayan 5 Broken (FOB FCL) +5 $400
reported trade to Peru Guatemala and Costa Rica Uruguayan rice exports in May 2018 totalled 53460 MTS according to Uruguay XXI This represents a 46 month-on-month decrease and a 267 year-on-year decrease Paddy comprised 280 MTS of this volume brown rice comprised 8359 MTS milled rice comprised 44014 MTS and broken rice comprised the remaining 807 MTS Exports during 2018 so far totalled 366726 MTS (-698) as of 31 May Iraq imported the largest volume of Uruguayan rice during this period (milled 93000 MTS) followed by Peru (milled 74772 MTS) Venezuela (paddy and milled 46756 MTS) and Mexico (milled 30870 MTS)
A 30000 MT paddy sale to Venezuela white rice demand from Central American destinations and brown rice enquiries from Europe were reported in the Argentine market this week A 12000 MT sale of Argentine 100 broken rice to Africa for July shipment was also reported However Brazilian enquiries were minimal and some exporters were willing to lower their offers to conclude business Argentine 5 broken white rice closed the week assessed down to US $485 PMT FOB FCL
The depreciation of the Brazilian Real against the US Dollar curtailed Brazilian purchases of Paraguayan rice this week although the processing of last monthrsquos sale to Iraq continued to occupy Paraguayan mills Paraguayan 5 broken white rice is assessed up to US $400 PMT FOB FCL as lower offers were no longer available
IndiaIndian non-Basmati demand remained subdued as buyers waited for prices to soften Although an 036 appreciation of the Rupee against the US Dollar between 1 ndash 6 June initially supported prices the increase of Bangladeshrsquos import tariff from 2 to 28 on Thursday (7 June see page 12) put renewed pressure on prices Indian 5 broken white rice closed the week assessed down to US $408 PMT FOB based on reported trade to Ghana and 25 broken white rice closed the week assessed down to US $375 PMT FOB as lower offers were available Rice stocks in Senegal remained high and subsequently sales of broken rice were slow 100 broken white rice closed the week assessed down to US $305 PMT FOB Buyers in Benin continued to make parboiled rice enquiries although concluded trade was minimal Parboiled 5 STX closed the week assessed up to US $395 PMT FOB as lower offers were no longer available following the currency movements
Two vessels were being loaded with a total of 43000 MTS of rice in Kakinada Port on 4 June a 162 increase in volume from 31 May Olam was loading 37000
CURRENCY INR 4 Week Range
1 USD $ 6761 6682 ndash 6848
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
B
MTS of Parboiled 5 broken for Guinea and Robiul Islam was loading 6000 MTS of Parboiled 5 broken for Bangladesh Milled rice stocks in the Food Corporation of Indiarsquos (FCI) central pool totalled 2536 million MTS as of 1 May 2018 This represents a 197 increase from 1 April 2018 and a 111 increase year-on-year Paddy stocks in the FCIrsquos central pool totalled 654 million MTS in May down by 152 from April and down by 299 year-on-year
Middle Eastern and domestic demand for milled and parboiled Basmati increased ahead of the end of Ramadan (14 June) The appreciation of the Rupee also supported Basmati prices with 1121 Parboiled Basmati 2 broken assessed up to US $1040 PMT FOB FCL European enquiries supported the price of Pusa Brown Basmati 2 broken which is assessed up to US $900 PMT FOB FCL
Water levels in Indiarsquos 91 major reservoirs totalled 267 billion cubic metres as of 7 June according to the Ministry of Water Resources River Development and Ganga Rejuvenation This represents 17 of the reservoirsrsquo total capacity and is a 361 decline from 31 May and down by 17 year-on-year Please see the table below for more details
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 9
State 201617 201718Andhra Pradesh 372 374
Telangana 360 357
Assam 005 002
Bihar 123 079
Chandigarh 001 001
Chhattisgarh 402 321
Gujarat 000 000
Haryana 358 399
Himachal Pradesh 000 000
Jharkhand 014 014
Jammu and Kashmir 000 001
Karnataka 000 000
Kerala 031 033
Madhya Pradesh 131 110
Maharashtra 031 017
Odisha 363 301
Punjab 1110 1183
Rajasthan 000 000
Tamil Nadu 014 078
Uttar Pradesh 235 288
Uttrakhand 071 004
West Bengal 192 005
Total 3811 3566
State Rice Procurement (MMTS) Source Food Corporation of India
Indian and Pakistani Basmati exports to the EU (MTS) - 050618Source European Commissionrsquos DG of Agriculture and
Rural Development Country India Pakistan Total
201415 (Sep - Aug) 187455 128430 315885
201516 (Sep - Aug) 228912 118264 347176
201617 (Sep - Aug) 212960 89787 302747
201718 (Sep - Aug) 199341 153173 352515
Year-on-year change 201617 - 201718 -640 +706 +164
Procurement up until 080618
Region Number of Reservoirs
Total Storage Capacity (billion cubic metres)
Water Level as of 070618 (billion
cubic metres)
Change year-on-year
Northern 6 1801 257 -451
Eastern 15 1883 401 -113
Western 27 3126 439 -261
Central 12 4230 942 -281
Southern 31 5159 634 +756
Total 91 16199 277 -17
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 1 0
EuropeOur assessments of Italian Indica 5 broken white rice and Arborio 5 broken white rice are both unchanged at EUR euro510 PMT ex-works and EUR euro650 PMT ex-works respectively with minimal market activity reported However market participants expect demand for Indica paddy from Italian mills to improve in the coming days which could lead to an increase in Indica paddy and milled prices next week Planting of the 2018 crop is concluding and although harvesting is due to begin in September one mill believed that new crop paddy may not be available until October
EU Rice Prices - 050618Source European Commissionrsquos DG of Agriculture
and Rural Development (Prices EUR euro PMT Ex-Market)
Country Paddy Price Previous Week
Italy
Balilla euro33100 euro33600
Ribe euro38400 euro38400
Thaibonnet euro30700 euro28800
SpainJaponica euro32709 euro32709
Indica euro31426 euro31426
PortugalJaponica NQ NQ
Indica NQ NQ
Greece
Moyen NQ NQ
Japonica euro30600 euro28700
Indica euro28100 euro29000
RomaniaJaponica NQ euro40304
Indica euro30947 NQ
Bulgaria Japonica euro26843 euro26843
Country 5 Broken Price Previous Week
Italy
Rond euro65000 euro65000
Ribe euro71000 euro71000
Thaibonnet euro58000 euro58000
SpainJaponica euro55354 euro55354
Indica euro50344 euro50344
RomaniaJaponica euro85534 euro87290
Indica euro64473 euro67030
Bulgaria Japonica euro71582 euro71582
FranceJaponica euro68000 euro68000
Indica euro62000 euro60000
Country 100 Broken Price Previous Week
Italy Mezzagrana NQ NQ
Bulgaria Japonica NQ NQ
France Camargue NQ NQ
Cumulative Imports 010917 - 050618Source European Commissionrsquos DG
of Agriculture
Country Volume (MTS)Belgium 61304
Bulgaria 10098
Czech Republic 31399
Denmark 8438
Germany 81275
Estonia 553
Ireland 2327
Greece 7400
Spain 50567
France 144744
Croatia 2831
Italy 69379
Cyprus 2560
Latvia 2004
Lithuania 8965
Luxembourg 0
Hungary 11788
Malta 36
Netherlands 107989
Austria 4586
Poland 74015
Portugal 54070
Romania 2524
Slovenia 5
Slovakia 132
Finland 1426
Sweden 22663
UK 198524
Total 961602
CURRENCY EUR 4 Week Range
1 USD $ 085 083 ndash 087
Paddy Prices - 050618Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMaximumrsquo Price
PreviouslsquoMaximumrsquo
PriceBalilla Centauro and similar euro33100 euro33600
Sole CL euro27900 euro28400
Selenio and similar euro30700 euro30700
Ribe euro38400 euro38400
Loto and similar euro38400 euro38400
Augusto euro38400 euro38400
S Andrea and similar euro33600 euro33600
Roma and similar euro33600 euro33600
Baldo and similar euro43300 euro43300
Arborio and Volano euro33500 euro33500
Carnaroli and similar euro33300 euro33300
Thaibonnet and similar euro30700 euro30700
Milled Prices - 290518Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMinimumrsquo Price
PreviouslsquoMinimumrsquo
PriceOriginario euro57000 euro57000
Selenio euro55000 euro55000S Andrea euro60000 euro60000
Roma euro60000 euro60000
Baldo euro81000 euro81000
Ribe euro66000 euro66000
Augusto euro67000 euro67000
Arborio euro62000 euro62000
Carnaroli euro64000 euro64000
Thaibonnet euro54000 euro51000
ParboiledRibe euro76000 euro76000
Baldo euro91000 euro91000
Thaibonnet euro64000 euro61000
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice (ex-works) 0 euro510Arborio 5 broken white rice (ex-works) 0 euro650
LRI Assessment
EU rice imports during the first eight months of the 201718 marketing year (September ndash August) totalled 840451 MTS (milled equivalent excluding broken rice) up by 198 year-on-year according to the EU Commission Milledsemi-milled rice imports totalled 491215 MTS (+102) broken rice imports totalled 299513 MTS (+273) husked Basmati imports totalled 226255 MTS (+31) husked non-Basmati imports totalled 113215 MTS (-166) and paddy imports totalled 9767 MTS (-668) Imports under the Everything But Arms (EBA) agreement totalled 233574 MTS (milled equivalent excluding broken rice -196) during the same period Rice imported in packages weighing less than 5kg totalled 48773 MTS (+74) and rice imported in 5 ndash 20kg packages totalled 162821 MTS (+851)
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 2
Live Rice IndexTHAILAND - LONG GRAIN WHITE RICE CHANGE PRICE
100 Grade B -7 $4305 Broken -7 $42010 Broken -7 $41815 Broken -10 $41025 Broken -9 $400A1 Super 100 Broken -6 $370
THAILAND - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Hom Mali White Rice 100 Grade B +20 $1210Hom Mali White Rice A1 Super 100 Broken -2 $450Pathumthani Fragrant 100 Grade B 0 $892
THAILAND - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 100 STX -5 $420Parboiled Milled Rice 100 -5 $410Parboiled Milled Rice 5 STX -5 $415Parboiled Milled Rice 5 -5 $405
PAKISTAN - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $433 10 Broken -2 $428 15 Broken -2 $423 25 Broken 0 $390 100 Broken Rice +2 $340 386 2 Broken -5 $625
VIETNAM - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Fragrant Rice 5 Broken 0 $560KDM Fragrant Rice 5 Broken -5 $690
PAKISTAN - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 Broken STX -5 $440Parboiled Milled Rice 15 Broken STX -5 $435
PAKISTAN - BASMATI RICE (FOB FCL) CHANGE PRICE
Super Kernel White Basmati Rice 2 -10 $1040Super Kernel Brown Basmati Rice 2 0 $990Super Kernel Parboiled Milled Basmati Rice 2 0 $11001121 Steam Basmati Rice 2 0 $12501121 Parboiled Milled Basmati Rice 2 0 $1170
USA - GULF LONG GRAIN RICE CHANGE PRICE
US 2 4 Broken Hard Milled (FOB Lake Charles) 0 $650US 2 4 Broken Hard Milled (FOB bulk NOLA) -5 $535US 3 15 Broken Hard Milled (FOB bulk NOLA) -5 $525US 5 20 Broken Hard Milled (FOB Lake Charles) -5 $535US 1 Parboiled Milled 4 Broken (FOB bulk NOLA) 0 $550US 2 Paddy 5570 Yield (FOB bulk NOLA) 0 $310Southern Flour Quality Broken Rice (ex-works) 0 $353Southern Pet Food Quality Broken Rice (ex-works) +16 $325
USA - CALIFORNIAN MEDIUM GRAIN RICE CHANGE PRICE
US 1 4 Broken 0 $990US 1 Paddy 5869 Yield 0 $542
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Uruguayan Oliacutemar 5 Broken (FOB FCL) 0 $510Argentine 5 Broken (FOB FCL) -5 $485
Brazilian 5 Broken (FOB FCL) +20 $475Brazilian Broken Rice (12 Grain Brokens) (FOB Bulk) -5 $320Paraguayan 5 Broken (FOB FCL) +5 $400
EGYPT - WHITE RICE CHANGE PRICE
Medium Grain 2 5 Broken - NQMedium Grain 3 10 Broken - NQRound Grain 2 5 Broken - NQRound Grain 3 10 Broken - NQ100 Broken Rice Grade 0 - NQ
S AMERICA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Brazilian Parboiled Milled 5 Broken STX (FOB FCL) +20 $475Uruguayan Parboiled Milled 5 Broken STX (FOB FCL) +3 $515
THAILAND - LONG GRAIN GLUTINOUS RICE CHANGE PRICE
White Glutinous Rice 10 Broken -15 $627White Glutinous Rice 10 Broken (Sanpathong) -32 $640White Glutinous 100 Broken Rice A1 0 $515
VIETNAM - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken +5 $45310 Broken +5 $44815 Broken +2 $44225 Broken -4 $425100 Broken Rice +3 $378
B
B
B
B = INDICATES BENCHMARK
B
CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka MalisPhka Rumduol (Wet Season) 5 Broken STX -65 $980Sen Kra ObSen Pidao (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
For more information on our price assessments please visit httplivericeindexcommethodology
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MYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice 0 euro510Arborio 5 broken white rice 0 euro650
VIETNAM - LONG GRAIN GLUTINOUS RICE CHANGE PRICE
White Glutinous Rice 10 Broken 0 $492
USA - GULF LG 3 Month 6 Month 1 Yr
US 2 4 Broken Hard Milled (FOB Lake Charles) 181 142 118US 2 4 Broken Hard Milled (FOB bulk NOLA) 32 50 81US 3 15 Broken Hard Milled 33 51 83US 5 20 Broken Hard Milled 32 50 84US 1 Parboiled Milled 4 Broken 77 77 124US 2 Paddy 5570 Yield 120 135 133Southern Flour Quality Broken Rice 179 174 143Southern Pet Food Quality Broken Rice 150 124 122
LRI Historical Volatility Index - 3 Month 6 Month amp 1 YearTHAILAND - LG WR 3 Month 6 Month 1 Yr
100 Grade B 111 156 1615 Broken 113 160 16510 Broken 119 163 16615 Broken 107 150 15425 Broken 113 143 138A1 Super Broken 92 85 73
THAILAND - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 100 STX 116 155 169Parboiled Milled Rice 100 119 159 173Parboiled Milled Rice 5 STX 118 157 171Parboiled Milled Rice 5 121 161 175
THAILAND - LG FRAGRANT RICE 3 Month 6 Month 1 Yr
Hom Mali White Rice 100 Grade B New 129 147 191Hom Mali White Rice A1 Super 75 133 120Pathumthani Fragrant 100 Grade B 85 143 252
PAKISTAN - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 5 Broken STX 129 118 111Parboiled Milled Rice 15 Broken STX 131 119 113
PAKISTAN - BASMATI RICE 3 Month 6 Month 1 Yr
Super Kernel White Basmati Rice 2 69 219 189Super Kernel Brown Basmati Rice 2 73 178 216Super Kernel Parboiled Milled Basmati Rice 2 74 161 1811121 Steam Basmati Rice 2 87 NA NA1121 Parboiled Milled Basmati Rice 2 57 NA NA
VIETNAM - LG FRAGRANT RICE 3 Month 6 Month 1 Yr
Fragrant Rice 5 Broken 95 83 98KDM Fragrant Rice 5 Broken 333 263 213
INDIA - BASMATI RICE 3 Month 6 Month 1 Yr
Traditional White Basmati Rice 2 137 142 164Traditional Brown Basmati Rice 2 164 209 227Traditional Parboiled Milled Basmati Rice 2 197 180 179Pusa White Basmati Rice 2 116 152 158Pusa Brown Basmati Rice 2 167 155 173Pusa Parboiled Milled Basmati Rice 2 163 202 2081121 White Basmati Rice 2 128 250 2081121 Parboiled Milled Basmati Rice 2 133 170 252
USA - CALIFORNIAN MG 3 Month 6 Month 1 Yr
US 1 4 Broken 151 117 131US 1 Paddy 5869 Yield 70 66 133
S AMERICA - LG WR 3 Month 6 Month 1 Yr
Uruguayan 5 Broken 42 35 55Uruguayan Oliacutemar 5 Broken NA NA NAArgentine 5 Broken 49 41 53Brazilian 5 Broken 128 148 113Brazilian Broken Rice (12 Grain Brokens) 59 53 97Paraguayan 5 Broken 164 NA NA
S AMERICA - LG PB 3 Month 6 Month 1 Yr
Brazilian Parboiled Milled Rice 5 Broken STX 110 164 129Uruguayan Parboiled Milled Rice 5 Broken STX 18 16 47
THAILAND - LG GLUTINOUS RICE 3 Month 6 Month 1 Yr
White Glutinous Rice 10 Broken 187 554 402White Glutinous Rice 10 Broken (Sanpathong) 220 536 389White Glutinous Broken Rice A1 128 586 419
VIETNAM - LG WR 3 Month 6 Month 1 Yr
5 Broken 87 162 14010 Broken 86 158 13815 Broken 78 153 13325 Broken 107 162 139Broken Rice 103 123 109
B
B = INDICATES BENCHMARK
B
CAMBODIA - LG WR 3 Month 6 Month 1 Yr
5 Broken 82 90 8410 Broken 83 88 8425 Broken 147 137 113A1 Super Broken 109 218 190
CAMBODIA - LG FRAGRANT RICE 3 Month 6 Month 1 Yr
Phka Malis(Wet Season) 5 Broken STX 204 179 156Sen Kra Ob (Dry Season) 5 Broken STX 165 143 175Fragrant 100 Broken A1 Super 73 253 214
INDIA - LG WR 3 Month 6 Month 1 Yr
5 Broken 74 86 8025 Broken 50 76 96100 Broken Rice 62 92 100Swarna 5 Broken 236 185 170Sharbati 2 Broken 99 191 169
INDIA - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 5 STX 61 63 114
PAKISTAN - LG WR 3 Month 6 Month 1 Yr
5 Broken 238 190 16710 Broken 239 191 16715 Broken 242 195 17025 Broken 179 156 145100 Broken Rice 128 107 89386 2 Broken 80 133 166
Volatility Index ExplainedHistorical Volatility is a measure of how much how fast and how often prices change over time It is stated as a percentage () The higher the percentage the more volatile the price assessed
Example If the 3 Month volatility of Pakistani 5 broken white rice was 183 compared to 106 for Indian 5 broken whiterice Pakisani 5 broken white rice could be said to be the more volatile variety
To read the full LRI Historical Volatility Methodology please contact the team at lrilivericeindexcom
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P a g e 0 3
Report Date 08062018
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B
MYANMAR - LG WR 3 Month 6 Month 1 Yr
5 Broken 71 142 11425 Broken 95 82 111B1 amp B2 Broken 65 78 99
MYANMAR - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 5 STX 60 127 98
ITALY - WR 3 Month 6 Month 1 Yr
Indica 5 broken white rice 30 44 136
Arborio 5 broken white rice 285 264 200
VIETNAM - LG GLUTINOUS RICE 3 Month 6 Month 1 Yr
White Glutinous Rice 10 Broken NA NA NA
Report Date 08062018
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Bitesize Rice News
USAbull KCCO cancels tender for
17000 MTS of white rice will retender on 12 June
bull Col-Rice holds import licence auction results are pending
(page 7)
South America bull Uruguayan exports totalled 53460 MTS during May 2018
bull Argentina sells 30000 MTS of paddy to Venezuela
(page 8)
Thailand bull TREA forecasts 2018 milled rice exports at
10 million MTS (page 5)
Bangladesh bull Government raises
rice import tariff from 2 to 28(page 12)
Vietnambull Milled rice exports totalled 243 million
MTS during January - April 2018(page 6)
Pakistan bull TCP awards the full 3000 MTS of white
rice in its 1 June domestic tender
(page 6)
Egypt bull Government will allow paddy white and brown
rice imports to cover requirements
(page 12)
Report Date 08062018
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ThailandThe Thai market was quiet and exporters lowered their parboiled and white rice offers to attract fresh demand Covering of recent tender sales to the Philippinesrsquo National Food Authority has concluded and an off-season harvest is expected to begin to arrive on to the market within the next two weeks putting additional pressure on long grain prices Thai 5 broken white rice and Parboiled 100 STX are both assessed down to US $420 PMT FOB A1 Super 100 broken white rice also closed the week assessed down to US $370 PMT FOB as supply improved There continued to be a firm undertone to the fragrant rice market with the local price of Hom Mali 100 Grade B increasing by THB 40 per 100kg (US $1250 PMT) this week according to the Department of Internal Trade Our assessment of Hom Mali 100 Grade B closed the week up to US $1210 PMT FOB FCL which is the highest ever LRI price assessment for this variety However international demand remained extremely quiet with buyers reporting that they have switched to purchasing Vietnamese KDM and Cambodian Phka Malis White Glutinous rice 10 broken is assessed down to US $627 PMT FOB FCL with slow demand reported According to the USDA Thai 2018 milled rice production is forecast to increase by 61 year-on-year to 204 million MTS This is based on favourable weather conditions in addition to expected increases in harvested area (107 million hectares +43) and the average field yield (289 MTSha +18) Substantial increases in irrigated land in the north northeast and central plains also encouraged planting Favourable financial
B
returns for fragrant rice varieties have encouraged a significant increase in fragrant rice planting in the northeast Exports are forecast to fall to 105 million MTS (milled equivalent -97) due to the liquidation of government old crop stocks Exports of white and parboiled rice between January ndash April 2018 increased by 49 and 222 year-on-year to 183 million MTS and 979230 MTS respectively However fragrant and glutinous rice exports have declined by 22 and 29 over the same period to 723397 MTS and 150910 MTS respectively Both consumption and ending stocks are expected to decrease to 115 million MTS (-42) and 275 million MTS (milled equivalent -343) respectively
Thai 2019 milled rice production is forecast to increase again to 212 million MTS (+39) with harvested area expected to rise to 111 million hectares (+43) As a result of increased production exports are forecast to rise to 11 million MTS (milled equivalent +48) Consumption is expected to continue to decline to 11 million MTS (-43) and ending stocks are forecast to increase to 319 million MTS (milled equivalent +16) The Thai Rice Exportersrsquo Association (TREA) has raised its target for 2018 exports from 95 million MTS to 10 million MTS according to local reports The revision follows better than expected sales during January ndash April Thailand exported 331 million MTS during this period which is a 38 year-on-year increase and a higher export volume than India Vietnam or Pakistan TREA attributes the export growth to improved demand from several destinations
CURRENCY THB 4 Week Range
1 USD $ 3208 3179 - 3228
THAILAND - LONG GRAIN WHITE RICE CHANGE PRICE
100 Grade B -7 $4305 Broken -7 $42010 Broken -7 $41815 Broken -10 $41025 Broken -9 $400A1 Super 100 Broken -6 $370
THAILAND - LONG GRAIN FRAGRANT RICE (FOB FCL)
CHANGE PRICE
Hom Mali White Rice 100 Grade B +20 $1210Hom Mali White Rice A1 Super 100 Broken -2 $450Pathumthani Fragrant 100 Grade B 0 $892
THAILAND - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 100 STX -5 $420Parboiled Milled Rice 100 -5 $410Parboiled Milled Rice 5 STX -5 $415Parboiled Milled Rice 5 -5 $405
THAILAND - LONG GRAIN GLUTINOUS RICE (FOB FCL)
CHANGE PRICE
White Glutinous Rice 10 Broken -15 $627White Glutinous Rice 10 Broken (Sanpathong) -32 $640White Glutinous 100 Broken Rice A1 0 $515
B
B
Export StatisticsUnofficial and preliminary rice exports (excluding premium white and fragrant rice) for 14 - 20 May 2018 totalled 152116 MTS down by 23351 MTS from the previous week Rice exports from 1 January - 20 May 2018 totalled 3547147 MTS
Report Date 08062018
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The Vietnamese white rice market had a soft undertone as the SummerAutumn off-season crop began to arrive on to the market The bulk of the harvest is not due to arrive until midlate July and the quality of early arrivals is reportedly poor Market participants reported that local sellers are blending the WinterSpring and SummerAutumn crops with fragrant rice varieties for sales in the domestic market and that shipments to the Philippines Indonesia and Cuba are also being covered with a blend of rice from the SummerAutumn and WinterSpring crops Exporters were not willing to accept lower bids for WinterSpring crop white rice due to its higher quality and as supply tightens and 5 broken white rice closed the week assessed up to US $453 PMT FOB Offers of SummerAutumn crop 5 broken white rice were reported at around US $440 PMT FOB White rice sales remained slow although enquiries from private buyers in the Philippines were reported
Vietnam PakistanThe Trading Corporation of Pakistan awarded Garibsons the full 3000 MTS of Pakistani white rice in its 1 June domestic tender The awarded price was PKR 5367 per kg (US $462 PMT) CFR Cotonou with the rice ultimately destined for Niger Local market activity remained minimal due to slow demand and Ramadan although exporters believe that this will change after Eid al-Fitr (14 ndash 15 June) Many exporters anticipate that the Rupee will depreciate following Eid and that local traders will raise their prices in response Pakistani 5 broken white rice closed the week assessed down to US $433 PMT FOB with a normalised trade to Russia reported at this level Indian 100 broken white rice closed the week assessed up to US $340 PMT FOB as stockholders held their positions in the hope of fresh demand with limited local market trade Parboiled 5 STX closed the week assessed down to US $440 PMT FOB as lower offers were available Planting has been delayed in some areas of Sindh due to irrigation water shortages growing beliefs that the non-Basmati harvest may not begin until October have caused local sellers to hold on to their stocks According to local reports planted area in Punjab will total 44 million acres (178 million hectares) Of this total 380000 acres (153780ha) will be planted in Sailkot District 82000 acres (33184ha) will be planted in Daska 47000 acres (19020ha) will be planted in Sambrial and 180000 acres (72843ha) will be planted in Pasrur Tehsil
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CURRENCY VND 4 Week Range
1 USD $ 22778 22733 ndash 22927
CURRENCY PKR 4 Week Range
1 USD $ 11588 11479 ndash 11608
Domestic demand continued to support the price of Fragrant 5 broken which is assessed unchanged at US $560 PMT FOB KDM 5 broken is assessed down to US $690 PMT FOB as lower offers were available Glutinous rice demand from buyers in China remained subdued and White Glutinous 10 broken is assessed unchanged at US $492 PMT FOB FCL
Vietnamese milled rice exports during the first four months of 2018 totalled 243 million MTS according to the USDA Exports during April totalled 791210 MTS up by 289 year-on-year Of this volume fragrant rice comprised 250707 MTS (+755) 15 broken white rice comprised 194215 MTS (+308) 5 broken white rice comprised 151410 MTS (+116) glutinous rice comprised 139913 MTS (-234) 100 broken white rice comprised 8544 MTS (-534) 25 broken white rice comprised 1965 MTS (-853) and 10 broken white rice comprised 365 MTS (-964)
For an update on local prices production and vessel loading please see page 13
VIETNAM - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Fragrant Rice 5 Broken 0 $560KDM Fragrant Rice 5 Broken -5 $690
VIETNAM - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken +5 $45310 Broken +5 $44815 Broken +2 $44225 Broken -4 $425100 Broken Rice +3 $378
B
PAKISTAN - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $433 10 Broken -2 $428 15 Broken -2 $423 25 Broken 0 $390 100 Broken Rice +2 $340 386 2 Broken -5 $625
PAKISTAN - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 Broken STX -5 $440Parboiled Milled Rice 15 Broken STX -5 $435
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The Basmati market had a firm undertone due to domestic demand as Pakistanis observed Iftar although demand from Middle Eastern buyers remained minimal Super Kernel Basmati stocks continued to tighten due to ongoing European sales although Super Kernel White Basmati 2 broken is assessed down to US $1040 PMT FOB FCL as lower offers were available Pakistani 1121 Parboiled Basmati 2 broken closed the week assessed unchanged at US $1170 PMT FOB FCL with local demand reported Demand for 386 2 broken white rice remained subdued and this variety is assessed down to US $625 PMT FOB FCL
PAKISTAN - BASMATI RICE (FOB FCL) CHANGE PRICE
Super Kernel White Basmati Rice 2 -10 $1040Super Kernel Brown Basmati Rice 2 0 $990Super Kernel Parboiled Milled Basmati Rice 2 0 $11001121 Steam Basmati Rice 2 0 $12501121 Parboiled Milled Basmati Rice 2 0 $1170
VIETNAM - LONG GRAIN GLUTINOUS RICE CHANGE PRICE
White Glutinous Rice 10 Broken 0 $492
Export StatisticsFor the period 25 - 31 May 2018 net sales of 146200 MTS were recorded for
Exports for the same period reached 208400 MTS The primary destinations were
Report Date 08062018
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USA The US Kansas City Commodity Office (KCCO) cancelled its 6 June domestic tender for 17000 MTS of US 2 7 broken long grain rice The KCCO will retender for this volume on 12 June the volume is destined for Burkina Faso Please click here for more details A Col-Rice auction was held yesterday (7 June) for 14995 MTS worth of import licences results are pending Some market participants believe that the results of this auction and the KCCOrsquos 12 June tender will signify the start of a bearish milled long grain market Aside from trade to regular buyers milled long grain demand has been minimal for months and the volatility in paddy futures pricing since the end of May has yet to affect milled rice prices US 2 4 broken white rice closed the week assessed down to US $535 PMT FOB bulk NOLA and unchanged at US $650 PMT FOB Lake Charles Due to the recent slowdown in milling US Southern Pet Food Quality broken rice is assessed up to US $325 PMT ex-works with many mills reluctant to make fresh offers for delivery before the harvest Although the USDA recorded net sales of 146200 MTS for 25 ndash 31 May (a marketing year high) 93500 MTS of this volume were late-recorded sales which were not concluded in this period The price of paddy was under pressure early in the week after the CBOT Rough Rice Futuresrsquo nearby July contract fell by US $050 per cwt (US $1102 PMT) between 4 ndash 5 June However this contract then gained US $061 per cwt (US $1345 PMT) on 6 June before falling by US $034 per cwt (US $750 PMT) on 7 June US 2 Paddy 5570 Yield is assessed unchanged
at US $310 PMT FOB bulk NOLA Paddy trade to Honduras for September shipment was reported and new crop paddy offers for October shipment were reported at US $335 PMT CIF Central American ports The KCCO awarded 1800 MTS of US 5 20 broken fortified long grain rice in its 5 June tender Supreme Rice was awarded the full volume with 1000 MTS awarded at a price of US $50772 PMT delivered intermodal bridge Houston and 800 MTS awarded at US $51353 PMT delivered intermodal bridge Houston The rice is destined for Cambodia please click here for more details In its last tender for US 5 20 broken fortified long grain rice on 2 May the KCCO awarded Beaumont Rice Mills 1600 MTS at US $49493 PMT delivered intermodal bridge Houston The KCCO will also retender for 2500 MTS of US 5 20 broken fortified long grain rice which were not awarded in its 5 June tender The retender will be held on 19 June and the volume is still destined for the Ivory Coast For more information on this retender click here Planting has now concluded in California with most market participants estimating total planted area at 505000 ndash 515000 acres (204366 ndash 208413ha) Calrose trade liquidity remained minimal and US 1 4 broken white rice closed the week assessed unchanged at US $990 PMT FAS FCL Oakland South Korearsquos Agro-Fisheries and Food Trade Corporation is considering a new medium grain tender market participants are unsure when it will be announced but delivery will be required after the new crop harvest
USA - CALIFORNIAN MEDIUM GRAIN RICE CHANGE PRICE
US 1 4 Broken (FAS FCL) 0 $990US 1 Paddy 5869 Yield (Ex-Works) 0 $542
USA - GULF LONG GRAIN RICE CHANGE PRICE
US 2 4 Broken Hard Milled (FOB Lake Charles) 0 $650US 2 4 Broken Hard Milled (FOB bulk NOLA) -5 $535US 3 15 Broken Hard Milled (FOB bulk NOLA) -5 $525US 5 20 Broken Hard Milled (FOB Lake Charles) -5 $535US 1 Parboiled Milled 4 Broken (FOB bulk NOLA) 0 $550US 2 Paddy 5570 Yield (FOB bulk NOLA) 0 $310Southern Flour Quality Broken Rice (ex-works) 0 $353Southern Pet Food Quality Broken Rice (ex-works) +16 $325
B
All figures rounded to two decimal places
Country Volume (MTS)
Mexico 134600
Haiti 30500
Colombia 28800
Guatemala 8000
Canada 1900
MonthThursdayrsquos Close Price
cwt
Net Change from Wednesday
cwt
Net Change from previous
Thursdaycwt
Thursdayrsquos Close Price
PMT
Net Change from Wednesday
PMT
Net Change from previous
Thursday PMT
July 2018 $1122 -$034 -$035 $24725 -$750 -$761September 2018 $1085 -$032 -$049 $23920 -$705 -$1080
November 2018 $1105 -$032 -$049 $24361 -$694 -$1080
January 2019 $1125 -$038 -$046 $24791 -$838 -$1014March 2019 $1125 -$038 -$046 $24791 -$838 -$1014
May 2019 $1125 -$038 -$046 $24791 -$838 -$1014July 2019 $1125 -$038 -$046 $24791 -$838 -$1014
CBOT Rough Rice Futures
Country Volume (MTS)Mexico 123900
Haiti 15000
Honduras 5000
Canada 1600
Colombia 600
State Very Poor Poor Fair Good ExcellentArkansas 1 3 26 56 14California - - 10 85 5Louisiana - 4 26 63 7
Mississippi - - 16 56 28Missouri - 5 27 51 17
Texas - 5 30 55 106 States - 3 23 62 12
State 3 June 2017
27 May 2018
3 June 2018
2013-17 Average
Arkansas 99 95 99 94California 47 42 77 72Louisiana 100 99 100 98
Mississippi 97 84 92 89Missouri 90 83 96 92
Texas 98 89 95 956 States 90 85 95 91
USDA Rice Condition () USDA Rice Emerged ()
Report Date 08062018
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The Brazilian truckersrsquo strike ended at the start of the week although exporters remained cautious about concluding fresh trade in case of continued logistical issues According to market participants trucking costs increased by around 40 following the end of the strike and freight costs increased by US $50 per FCL Although the Real depreciated by 349 from 1 ndash 7 June the average price of paddy in Rio Grande do Sul increased by 22 during the same period to BRL 3810 per 50kg (US $19525 PMT) Brazilian 5 broken white rice and Parboiled 5 STX both closed the week assessed up to US $475 PMT FOB FCL Brazilian broken rice closed the week assessed down to US $320 PMT FOB due to slow demand Results of Costa Ricarsquos 30 May tender for at least 19363 MTS of paddy are yet to be confirmed although speculation that TRC was awarded the full volume and that it would source the award from Brazil persisted Two vessels were loading rice in Rio Grande Port as of 7 June Casillo was loading 30000 MTS of paddy and Rivelin was loading 6000 MTS of rice pellets Casillo was also waiting to load a further 30000 MTS of paddy and Densa Sea Lion was waiting to be loaded with 28500 MTS of paddy
Demand from regular buyers supported Uruguayan rice prices with 5 broken white rice assessed unchanged at US $500 PMT FOB FCL Oliacutemar 5 broken white rice is also assessed unchanged at US $510 PMT FOB FCL based on reported trade to Mexico Parboiled 5 STX closed the week assessed up to US $515 PMT FOB FCL based on
South AmericaCURRENCY BRL 4 Week Range
1 USD $ 390 355 ndash 395
CURRENCY ARS 4 Week Range
1 USD $ 2498 2235 ndash 2505
CURRENCY UYU 4 Week Range
1 USD $ 3121 2902 ndash 3143
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Argentine 5 Broken (FOB FCL) -6 $490Brazilian 5 Broken (FOB FCL) 0 $460Brazilian Broken Rice (12 Grain) (FOB Bulk) -3 $325Paraguayan 5 Broken (FOB FCL) 0 $375
S AMERICA - LONG GRAIN PARBOILED (FOB FCL)
CHANGE PRICE
Brazilian Parboiled Milled 5 Broken STX +20 $475Uruguayan Parboiled Milled 5 Broken STX +3 $515 CURRENCY PYG 4 Week Range
1 USD $ 5698 5563 - 5765
Country Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TotalBrazil 2017 79290 51106 46243 37926 77181 42893 112569 60659 109450 91988 95339 65624 870268
Brazil 2018 161324 163549 193565 95845 614283
Argentina 2017 41002 29169 26097 41507 82529 19285 37269 23233 28651 43788 18362 17060 407955
Argentina 2018 11999 24543 36543
Uruguay 2017 103606 122816 27526 67382 72917 122895 87482 89557 75406 85824 74996 52695 983103
Uruguay 2018 83019 107185 25598 97464 53460 366726
Sources IRGA Ministerio de Agroindustria de Argentina Uruguay XXI
Brazilian Paddy Prices - 080617 - 070618 Source ESALQ
South American Export Statistics (MTS)
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Uruguayan Oliacutemar 5 Broken (FOB FCL) 0 $510Argentine 5 Broken (FOB FCL) -5 $485
Brazilian 5 Broken (FOB FCL) +20 $475Brazilian Broken Rice (12 Grain Brokens) (FOB Bulk) -5 $320Paraguayan 5 Broken (FOB FCL) +5 $400
reported trade to Peru Guatemala and Costa Rica Uruguayan rice exports in May 2018 totalled 53460 MTS according to Uruguay XXI This represents a 46 month-on-month decrease and a 267 year-on-year decrease Paddy comprised 280 MTS of this volume brown rice comprised 8359 MTS milled rice comprised 44014 MTS and broken rice comprised the remaining 807 MTS Exports during 2018 so far totalled 366726 MTS (-698) as of 31 May Iraq imported the largest volume of Uruguayan rice during this period (milled 93000 MTS) followed by Peru (milled 74772 MTS) Venezuela (paddy and milled 46756 MTS) and Mexico (milled 30870 MTS)
A 30000 MT paddy sale to Venezuela white rice demand from Central American destinations and brown rice enquiries from Europe were reported in the Argentine market this week A 12000 MT sale of Argentine 100 broken rice to Africa for July shipment was also reported However Brazilian enquiries were minimal and some exporters were willing to lower their offers to conclude business Argentine 5 broken white rice closed the week assessed down to US $485 PMT FOB FCL
The depreciation of the Brazilian Real against the US Dollar curtailed Brazilian purchases of Paraguayan rice this week although the processing of last monthrsquos sale to Iraq continued to occupy Paraguayan mills Paraguayan 5 broken white rice is assessed up to US $400 PMT FOB FCL as lower offers were no longer available
IndiaIndian non-Basmati demand remained subdued as buyers waited for prices to soften Although an 036 appreciation of the Rupee against the US Dollar between 1 ndash 6 June initially supported prices the increase of Bangladeshrsquos import tariff from 2 to 28 on Thursday (7 June see page 12) put renewed pressure on prices Indian 5 broken white rice closed the week assessed down to US $408 PMT FOB based on reported trade to Ghana and 25 broken white rice closed the week assessed down to US $375 PMT FOB as lower offers were available Rice stocks in Senegal remained high and subsequently sales of broken rice were slow 100 broken white rice closed the week assessed down to US $305 PMT FOB Buyers in Benin continued to make parboiled rice enquiries although concluded trade was minimal Parboiled 5 STX closed the week assessed up to US $395 PMT FOB as lower offers were no longer available following the currency movements
Two vessels were being loaded with a total of 43000 MTS of rice in Kakinada Port on 4 June a 162 increase in volume from 31 May Olam was loading 37000
CURRENCY INR 4 Week Range
1 USD $ 6761 6682 ndash 6848
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
B
MTS of Parboiled 5 broken for Guinea and Robiul Islam was loading 6000 MTS of Parboiled 5 broken for Bangladesh Milled rice stocks in the Food Corporation of Indiarsquos (FCI) central pool totalled 2536 million MTS as of 1 May 2018 This represents a 197 increase from 1 April 2018 and a 111 increase year-on-year Paddy stocks in the FCIrsquos central pool totalled 654 million MTS in May down by 152 from April and down by 299 year-on-year
Middle Eastern and domestic demand for milled and parboiled Basmati increased ahead of the end of Ramadan (14 June) The appreciation of the Rupee also supported Basmati prices with 1121 Parboiled Basmati 2 broken assessed up to US $1040 PMT FOB FCL European enquiries supported the price of Pusa Brown Basmati 2 broken which is assessed up to US $900 PMT FOB FCL
Water levels in Indiarsquos 91 major reservoirs totalled 267 billion cubic metres as of 7 June according to the Ministry of Water Resources River Development and Ganga Rejuvenation This represents 17 of the reservoirsrsquo total capacity and is a 361 decline from 31 May and down by 17 year-on-year Please see the table below for more details
Report Date 08062018
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P a g e 0 9
State 201617 201718Andhra Pradesh 372 374
Telangana 360 357
Assam 005 002
Bihar 123 079
Chandigarh 001 001
Chhattisgarh 402 321
Gujarat 000 000
Haryana 358 399
Himachal Pradesh 000 000
Jharkhand 014 014
Jammu and Kashmir 000 001
Karnataka 000 000
Kerala 031 033
Madhya Pradesh 131 110
Maharashtra 031 017
Odisha 363 301
Punjab 1110 1183
Rajasthan 000 000
Tamil Nadu 014 078
Uttar Pradesh 235 288
Uttrakhand 071 004
West Bengal 192 005
Total 3811 3566
State Rice Procurement (MMTS) Source Food Corporation of India
Indian and Pakistani Basmati exports to the EU (MTS) - 050618Source European Commissionrsquos DG of Agriculture and
Rural Development Country India Pakistan Total
201415 (Sep - Aug) 187455 128430 315885
201516 (Sep - Aug) 228912 118264 347176
201617 (Sep - Aug) 212960 89787 302747
201718 (Sep - Aug) 199341 153173 352515
Year-on-year change 201617 - 201718 -640 +706 +164
Procurement up until 080618
Region Number of Reservoirs
Total Storage Capacity (billion cubic metres)
Water Level as of 070618 (billion
cubic metres)
Change year-on-year
Northern 6 1801 257 -451
Eastern 15 1883 401 -113
Western 27 3126 439 -261
Central 12 4230 942 -281
Southern 31 5159 634 +756
Total 91 16199 277 -17
Report Date 08062018
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P a g e 1 0
EuropeOur assessments of Italian Indica 5 broken white rice and Arborio 5 broken white rice are both unchanged at EUR euro510 PMT ex-works and EUR euro650 PMT ex-works respectively with minimal market activity reported However market participants expect demand for Indica paddy from Italian mills to improve in the coming days which could lead to an increase in Indica paddy and milled prices next week Planting of the 2018 crop is concluding and although harvesting is due to begin in September one mill believed that new crop paddy may not be available until October
EU Rice Prices - 050618Source European Commissionrsquos DG of Agriculture
and Rural Development (Prices EUR euro PMT Ex-Market)
Country Paddy Price Previous Week
Italy
Balilla euro33100 euro33600
Ribe euro38400 euro38400
Thaibonnet euro30700 euro28800
SpainJaponica euro32709 euro32709
Indica euro31426 euro31426
PortugalJaponica NQ NQ
Indica NQ NQ
Greece
Moyen NQ NQ
Japonica euro30600 euro28700
Indica euro28100 euro29000
RomaniaJaponica NQ euro40304
Indica euro30947 NQ
Bulgaria Japonica euro26843 euro26843
Country 5 Broken Price Previous Week
Italy
Rond euro65000 euro65000
Ribe euro71000 euro71000
Thaibonnet euro58000 euro58000
SpainJaponica euro55354 euro55354
Indica euro50344 euro50344
RomaniaJaponica euro85534 euro87290
Indica euro64473 euro67030
Bulgaria Japonica euro71582 euro71582
FranceJaponica euro68000 euro68000
Indica euro62000 euro60000
Country 100 Broken Price Previous Week
Italy Mezzagrana NQ NQ
Bulgaria Japonica NQ NQ
France Camargue NQ NQ
Cumulative Imports 010917 - 050618Source European Commissionrsquos DG
of Agriculture
Country Volume (MTS)Belgium 61304
Bulgaria 10098
Czech Republic 31399
Denmark 8438
Germany 81275
Estonia 553
Ireland 2327
Greece 7400
Spain 50567
France 144744
Croatia 2831
Italy 69379
Cyprus 2560
Latvia 2004
Lithuania 8965
Luxembourg 0
Hungary 11788
Malta 36
Netherlands 107989
Austria 4586
Poland 74015
Portugal 54070
Romania 2524
Slovenia 5
Slovakia 132
Finland 1426
Sweden 22663
UK 198524
Total 961602
CURRENCY EUR 4 Week Range
1 USD $ 085 083 ndash 087
Paddy Prices - 050618Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMaximumrsquo Price
PreviouslsquoMaximumrsquo
PriceBalilla Centauro and similar euro33100 euro33600
Sole CL euro27900 euro28400
Selenio and similar euro30700 euro30700
Ribe euro38400 euro38400
Loto and similar euro38400 euro38400
Augusto euro38400 euro38400
S Andrea and similar euro33600 euro33600
Roma and similar euro33600 euro33600
Baldo and similar euro43300 euro43300
Arborio and Volano euro33500 euro33500
Carnaroli and similar euro33300 euro33300
Thaibonnet and similar euro30700 euro30700
Milled Prices - 290518Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMinimumrsquo Price
PreviouslsquoMinimumrsquo
PriceOriginario euro57000 euro57000
Selenio euro55000 euro55000S Andrea euro60000 euro60000
Roma euro60000 euro60000
Baldo euro81000 euro81000
Ribe euro66000 euro66000
Augusto euro67000 euro67000
Arborio euro62000 euro62000
Carnaroli euro64000 euro64000
Thaibonnet euro54000 euro51000
ParboiledRibe euro76000 euro76000
Baldo euro91000 euro91000
Thaibonnet euro64000 euro61000
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice (ex-works) 0 euro510Arborio 5 broken white rice (ex-works) 0 euro650
LRI Assessment
EU rice imports during the first eight months of the 201718 marketing year (September ndash August) totalled 840451 MTS (milled equivalent excluding broken rice) up by 198 year-on-year according to the EU Commission Milledsemi-milled rice imports totalled 491215 MTS (+102) broken rice imports totalled 299513 MTS (+273) husked Basmati imports totalled 226255 MTS (+31) husked non-Basmati imports totalled 113215 MTS (-166) and paddy imports totalled 9767 MTS (-668) Imports under the Everything But Arms (EBA) agreement totalled 233574 MTS (milled equivalent excluding broken rice -196) during the same period Rice imported in packages weighing less than 5kg totalled 48773 MTS (+74) and rice imported in 5 ndash 20kg packages totalled 162821 MTS (+851)
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
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CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
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AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
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Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
USA - GULF LG 3 Month 6 Month 1 Yr
US 2 4 Broken Hard Milled (FOB Lake Charles) 181 142 118US 2 4 Broken Hard Milled (FOB bulk NOLA) 32 50 81US 3 15 Broken Hard Milled 33 51 83US 5 20 Broken Hard Milled 32 50 84US 1 Parboiled Milled 4 Broken 77 77 124US 2 Paddy 5570 Yield 120 135 133Southern Flour Quality Broken Rice 179 174 143Southern Pet Food Quality Broken Rice 150 124 122
LRI Historical Volatility Index - 3 Month 6 Month amp 1 YearTHAILAND - LG WR 3 Month 6 Month 1 Yr
100 Grade B 111 156 1615 Broken 113 160 16510 Broken 119 163 16615 Broken 107 150 15425 Broken 113 143 138A1 Super Broken 92 85 73
THAILAND - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 100 STX 116 155 169Parboiled Milled Rice 100 119 159 173Parboiled Milled Rice 5 STX 118 157 171Parboiled Milled Rice 5 121 161 175
THAILAND - LG FRAGRANT RICE 3 Month 6 Month 1 Yr
Hom Mali White Rice 100 Grade B New 129 147 191Hom Mali White Rice A1 Super 75 133 120Pathumthani Fragrant 100 Grade B 85 143 252
PAKISTAN - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 5 Broken STX 129 118 111Parboiled Milled Rice 15 Broken STX 131 119 113
PAKISTAN - BASMATI RICE 3 Month 6 Month 1 Yr
Super Kernel White Basmati Rice 2 69 219 189Super Kernel Brown Basmati Rice 2 73 178 216Super Kernel Parboiled Milled Basmati Rice 2 74 161 1811121 Steam Basmati Rice 2 87 NA NA1121 Parboiled Milled Basmati Rice 2 57 NA NA
VIETNAM - LG FRAGRANT RICE 3 Month 6 Month 1 Yr
Fragrant Rice 5 Broken 95 83 98KDM Fragrant Rice 5 Broken 333 263 213
INDIA - BASMATI RICE 3 Month 6 Month 1 Yr
Traditional White Basmati Rice 2 137 142 164Traditional Brown Basmati Rice 2 164 209 227Traditional Parboiled Milled Basmati Rice 2 197 180 179Pusa White Basmati Rice 2 116 152 158Pusa Brown Basmati Rice 2 167 155 173Pusa Parboiled Milled Basmati Rice 2 163 202 2081121 White Basmati Rice 2 128 250 2081121 Parboiled Milled Basmati Rice 2 133 170 252
USA - CALIFORNIAN MG 3 Month 6 Month 1 Yr
US 1 4 Broken 151 117 131US 1 Paddy 5869 Yield 70 66 133
S AMERICA - LG WR 3 Month 6 Month 1 Yr
Uruguayan 5 Broken 42 35 55Uruguayan Oliacutemar 5 Broken NA NA NAArgentine 5 Broken 49 41 53Brazilian 5 Broken 128 148 113Brazilian Broken Rice (12 Grain Brokens) 59 53 97Paraguayan 5 Broken 164 NA NA
S AMERICA - LG PB 3 Month 6 Month 1 Yr
Brazilian Parboiled Milled Rice 5 Broken STX 110 164 129Uruguayan Parboiled Milled Rice 5 Broken STX 18 16 47
THAILAND - LG GLUTINOUS RICE 3 Month 6 Month 1 Yr
White Glutinous Rice 10 Broken 187 554 402White Glutinous Rice 10 Broken (Sanpathong) 220 536 389White Glutinous Broken Rice A1 128 586 419
VIETNAM - LG WR 3 Month 6 Month 1 Yr
5 Broken 87 162 14010 Broken 86 158 13815 Broken 78 153 13325 Broken 107 162 139Broken Rice 103 123 109
B
B = INDICATES BENCHMARK
B
CAMBODIA - LG WR 3 Month 6 Month 1 Yr
5 Broken 82 90 8410 Broken 83 88 8425 Broken 147 137 113A1 Super Broken 109 218 190
CAMBODIA - LG FRAGRANT RICE 3 Month 6 Month 1 Yr
Phka Malis(Wet Season) 5 Broken STX 204 179 156Sen Kra Ob (Dry Season) 5 Broken STX 165 143 175Fragrant 100 Broken A1 Super 73 253 214
INDIA - LG WR 3 Month 6 Month 1 Yr
5 Broken 74 86 8025 Broken 50 76 96100 Broken Rice 62 92 100Swarna 5 Broken 236 185 170Sharbati 2 Broken 99 191 169
INDIA - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 5 STX 61 63 114
PAKISTAN - LG WR 3 Month 6 Month 1 Yr
5 Broken 238 190 16710 Broken 239 191 16715 Broken 242 195 17025 Broken 179 156 145100 Broken Rice 128 107 89386 2 Broken 80 133 166
Volatility Index ExplainedHistorical Volatility is a measure of how much how fast and how often prices change over time It is stated as a percentage () The higher the percentage the more volatile the price assessed
Example If the 3 Month volatility of Pakistani 5 broken white rice was 183 compared to 106 for Indian 5 broken whiterice Pakisani 5 broken white rice could be said to be the more volatile variety
To read the full LRI Historical Volatility Methodology please contact the team at lrilivericeindexcom
B
B
B
B
B
B
B
P a g e 0 3
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
B
MYANMAR - LG WR 3 Month 6 Month 1 Yr
5 Broken 71 142 11425 Broken 95 82 111B1 amp B2 Broken 65 78 99
MYANMAR - LG PB 3 Month 6 Month 1 Yr
Parboiled Milled Rice 5 STX 60 127 98
ITALY - WR 3 Month 6 Month 1 Yr
Indica 5 broken white rice 30 44 136
Arborio 5 broken white rice 285 264 200
VIETNAM - LG GLUTINOUS RICE 3 Month 6 Month 1 Yr
White Glutinous Rice 10 Broken NA NA NA
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 4
Bitesize Rice News
USAbull KCCO cancels tender for
17000 MTS of white rice will retender on 12 June
bull Col-Rice holds import licence auction results are pending
(page 7)
South America bull Uruguayan exports totalled 53460 MTS during May 2018
bull Argentina sells 30000 MTS of paddy to Venezuela
(page 8)
Thailand bull TREA forecasts 2018 milled rice exports at
10 million MTS (page 5)
Bangladesh bull Government raises
rice import tariff from 2 to 28(page 12)
Vietnambull Milled rice exports totalled 243 million
MTS during January - April 2018(page 6)
Pakistan bull TCP awards the full 3000 MTS of white
rice in its 1 June domestic tender
(page 6)
Egypt bull Government will allow paddy white and brown
rice imports to cover requirements
(page 12)
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 5
ThailandThe Thai market was quiet and exporters lowered their parboiled and white rice offers to attract fresh demand Covering of recent tender sales to the Philippinesrsquo National Food Authority has concluded and an off-season harvest is expected to begin to arrive on to the market within the next two weeks putting additional pressure on long grain prices Thai 5 broken white rice and Parboiled 100 STX are both assessed down to US $420 PMT FOB A1 Super 100 broken white rice also closed the week assessed down to US $370 PMT FOB as supply improved There continued to be a firm undertone to the fragrant rice market with the local price of Hom Mali 100 Grade B increasing by THB 40 per 100kg (US $1250 PMT) this week according to the Department of Internal Trade Our assessment of Hom Mali 100 Grade B closed the week up to US $1210 PMT FOB FCL which is the highest ever LRI price assessment for this variety However international demand remained extremely quiet with buyers reporting that they have switched to purchasing Vietnamese KDM and Cambodian Phka Malis White Glutinous rice 10 broken is assessed down to US $627 PMT FOB FCL with slow demand reported According to the USDA Thai 2018 milled rice production is forecast to increase by 61 year-on-year to 204 million MTS This is based on favourable weather conditions in addition to expected increases in harvested area (107 million hectares +43) and the average field yield (289 MTSha +18) Substantial increases in irrigated land in the north northeast and central plains also encouraged planting Favourable financial
B
returns for fragrant rice varieties have encouraged a significant increase in fragrant rice planting in the northeast Exports are forecast to fall to 105 million MTS (milled equivalent -97) due to the liquidation of government old crop stocks Exports of white and parboiled rice between January ndash April 2018 increased by 49 and 222 year-on-year to 183 million MTS and 979230 MTS respectively However fragrant and glutinous rice exports have declined by 22 and 29 over the same period to 723397 MTS and 150910 MTS respectively Both consumption and ending stocks are expected to decrease to 115 million MTS (-42) and 275 million MTS (milled equivalent -343) respectively
Thai 2019 milled rice production is forecast to increase again to 212 million MTS (+39) with harvested area expected to rise to 111 million hectares (+43) As a result of increased production exports are forecast to rise to 11 million MTS (milled equivalent +48) Consumption is expected to continue to decline to 11 million MTS (-43) and ending stocks are forecast to increase to 319 million MTS (milled equivalent +16) The Thai Rice Exportersrsquo Association (TREA) has raised its target for 2018 exports from 95 million MTS to 10 million MTS according to local reports The revision follows better than expected sales during January ndash April Thailand exported 331 million MTS during this period which is a 38 year-on-year increase and a higher export volume than India Vietnam or Pakistan TREA attributes the export growth to improved demand from several destinations
CURRENCY THB 4 Week Range
1 USD $ 3208 3179 - 3228
THAILAND - LONG GRAIN WHITE RICE CHANGE PRICE
100 Grade B -7 $4305 Broken -7 $42010 Broken -7 $41815 Broken -10 $41025 Broken -9 $400A1 Super 100 Broken -6 $370
THAILAND - LONG GRAIN FRAGRANT RICE (FOB FCL)
CHANGE PRICE
Hom Mali White Rice 100 Grade B +20 $1210Hom Mali White Rice A1 Super 100 Broken -2 $450Pathumthani Fragrant 100 Grade B 0 $892
THAILAND - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 100 STX -5 $420Parboiled Milled Rice 100 -5 $410Parboiled Milled Rice 5 STX -5 $415Parboiled Milled Rice 5 -5 $405
THAILAND - LONG GRAIN GLUTINOUS RICE (FOB FCL)
CHANGE PRICE
White Glutinous Rice 10 Broken -15 $627White Glutinous Rice 10 Broken (Sanpathong) -32 $640White Glutinous 100 Broken Rice A1 0 $515
B
B
Export StatisticsUnofficial and preliminary rice exports (excluding premium white and fragrant rice) for 14 - 20 May 2018 totalled 152116 MTS down by 23351 MTS from the previous week Rice exports from 1 January - 20 May 2018 totalled 3547147 MTS
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 6
The Vietnamese white rice market had a soft undertone as the SummerAutumn off-season crop began to arrive on to the market The bulk of the harvest is not due to arrive until midlate July and the quality of early arrivals is reportedly poor Market participants reported that local sellers are blending the WinterSpring and SummerAutumn crops with fragrant rice varieties for sales in the domestic market and that shipments to the Philippines Indonesia and Cuba are also being covered with a blend of rice from the SummerAutumn and WinterSpring crops Exporters were not willing to accept lower bids for WinterSpring crop white rice due to its higher quality and as supply tightens and 5 broken white rice closed the week assessed up to US $453 PMT FOB Offers of SummerAutumn crop 5 broken white rice were reported at around US $440 PMT FOB White rice sales remained slow although enquiries from private buyers in the Philippines were reported
Vietnam PakistanThe Trading Corporation of Pakistan awarded Garibsons the full 3000 MTS of Pakistani white rice in its 1 June domestic tender The awarded price was PKR 5367 per kg (US $462 PMT) CFR Cotonou with the rice ultimately destined for Niger Local market activity remained minimal due to slow demand and Ramadan although exporters believe that this will change after Eid al-Fitr (14 ndash 15 June) Many exporters anticipate that the Rupee will depreciate following Eid and that local traders will raise their prices in response Pakistani 5 broken white rice closed the week assessed down to US $433 PMT FOB with a normalised trade to Russia reported at this level Indian 100 broken white rice closed the week assessed up to US $340 PMT FOB as stockholders held their positions in the hope of fresh demand with limited local market trade Parboiled 5 STX closed the week assessed down to US $440 PMT FOB as lower offers were available Planting has been delayed in some areas of Sindh due to irrigation water shortages growing beliefs that the non-Basmati harvest may not begin until October have caused local sellers to hold on to their stocks According to local reports planted area in Punjab will total 44 million acres (178 million hectares) Of this total 380000 acres (153780ha) will be planted in Sailkot District 82000 acres (33184ha) will be planted in Daska 47000 acres (19020ha) will be planted in Sambrial and 180000 acres (72843ha) will be planted in Pasrur Tehsil
B
B
CURRENCY VND 4 Week Range
1 USD $ 22778 22733 ndash 22927
CURRENCY PKR 4 Week Range
1 USD $ 11588 11479 ndash 11608
Domestic demand continued to support the price of Fragrant 5 broken which is assessed unchanged at US $560 PMT FOB KDM 5 broken is assessed down to US $690 PMT FOB as lower offers were available Glutinous rice demand from buyers in China remained subdued and White Glutinous 10 broken is assessed unchanged at US $492 PMT FOB FCL
Vietnamese milled rice exports during the first four months of 2018 totalled 243 million MTS according to the USDA Exports during April totalled 791210 MTS up by 289 year-on-year Of this volume fragrant rice comprised 250707 MTS (+755) 15 broken white rice comprised 194215 MTS (+308) 5 broken white rice comprised 151410 MTS (+116) glutinous rice comprised 139913 MTS (-234) 100 broken white rice comprised 8544 MTS (-534) 25 broken white rice comprised 1965 MTS (-853) and 10 broken white rice comprised 365 MTS (-964)
For an update on local prices production and vessel loading please see page 13
VIETNAM - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Fragrant Rice 5 Broken 0 $560KDM Fragrant Rice 5 Broken -5 $690
VIETNAM - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken +5 $45310 Broken +5 $44815 Broken +2 $44225 Broken -4 $425100 Broken Rice +3 $378
B
PAKISTAN - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $433 10 Broken -2 $428 15 Broken -2 $423 25 Broken 0 $390 100 Broken Rice +2 $340 386 2 Broken -5 $625
PAKISTAN - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 Broken STX -5 $440Parboiled Milled Rice 15 Broken STX -5 $435
B
B
B
The Basmati market had a firm undertone due to domestic demand as Pakistanis observed Iftar although demand from Middle Eastern buyers remained minimal Super Kernel Basmati stocks continued to tighten due to ongoing European sales although Super Kernel White Basmati 2 broken is assessed down to US $1040 PMT FOB FCL as lower offers were available Pakistani 1121 Parboiled Basmati 2 broken closed the week assessed unchanged at US $1170 PMT FOB FCL with local demand reported Demand for 386 2 broken white rice remained subdued and this variety is assessed down to US $625 PMT FOB FCL
PAKISTAN - BASMATI RICE (FOB FCL) CHANGE PRICE
Super Kernel White Basmati Rice 2 -10 $1040Super Kernel Brown Basmati Rice 2 0 $990Super Kernel Parboiled Milled Basmati Rice 2 0 $11001121 Steam Basmati Rice 2 0 $12501121 Parboiled Milled Basmati Rice 2 0 $1170
VIETNAM - LONG GRAIN GLUTINOUS RICE CHANGE PRICE
White Glutinous Rice 10 Broken 0 $492
Export StatisticsFor the period 25 - 31 May 2018 net sales of 146200 MTS were recorded for
Exports for the same period reached 208400 MTS The primary destinations were
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 7
USA The US Kansas City Commodity Office (KCCO) cancelled its 6 June domestic tender for 17000 MTS of US 2 7 broken long grain rice The KCCO will retender for this volume on 12 June the volume is destined for Burkina Faso Please click here for more details A Col-Rice auction was held yesterday (7 June) for 14995 MTS worth of import licences results are pending Some market participants believe that the results of this auction and the KCCOrsquos 12 June tender will signify the start of a bearish milled long grain market Aside from trade to regular buyers milled long grain demand has been minimal for months and the volatility in paddy futures pricing since the end of May has yet to affect milled rice prices US 2 4 broken white rice closed the week assessed down to US $535 PMT FOB bulk NOLA and unchanged at US $650 PMT FOB Lake Charles Due to the recent slowdown in milling US Southern Pet Food Quality broken rice is assessed up to US $325 PMT ex-works with many mills reluctant to make fresh offers for delivery before the harvest Although the USDA recorded net sales of 146200 MTS for 25 ndash 31 May (a marketing year high) 93500 MTS of this volume were late-recorded sales which were not concluded in this period The price of paddy was under pressure early in the week after the CBOT Rough Rice Futuresrsquo nearby July contract fell by US $050 per cwt (US $1102 PMT) between 4 ndash 5 June However this contract then gained US $061 per cwt (US $1345 PMT) on 6 June before falling by US $034 per cwt (US $750 PMT) on 7 June US 2 Paddy 5570 Yield is assessed unchanged
at US $310 PMT FOB bulk NOLA Paddy trade to Honduras for September shipment was reported and new crop paddy offers for October shipment were reported at US $335 PMT CIF Central American ports The KCCO awarded 1800 MTS of US 5 20 broken fortified long grain rice in its 5 June tender Supreme Rice was awarded the full volume with 1000 MTS awarded at a price of US $50772 PMT delivered intermodal bridge Houston and 800 MTS awarded at US $51353 PMT delivered intermodal bridge Houston The rice is destined for Cambodia please click here for more details In its last tender for US 5 20 broken fortified long grain rice on 2 May the KCCO awarded Beaumont Rice Mills 1600 MTS at US $49493 PMT delivered intermodal bridge Houston The KCCO will also retender for 2500 MTS of US 5 20 broken fortified long grain rice which were not awarded in its 5 June tender The retender will be held on 19 June and the volume is still destined for the Ivory Coast For more information on this retender click here Planting has now concluded in California with most market participants estimating total planted area at 505000 ndash 515000 acres (204366 ndash 208413ha) Calrose trade liquidity remained minimal and US 1 4 broken white rice closed the week assessed unchanged at US $990 PMT FAS FCL Oakland South Korearsquos Agro-Fisheries and Food Trade Corporation is considering a new medium grain tender market participants are unsure when it will be announced but delivery will be required after the new crop harvest
USA - CALIFORNIAN MEDIUM GRAIN RICE CHANGE PRICE
US 1 4 Broken (FAS FCL) 0 $990US 1 Paddy 5869 Yield (Ex-Works) 0 $542
USA - GULF LONG GRAIN RICE CHANGE PRICE
US 2 4 Broken Hard Milled (FOB Lake Charles) 0 $650US 2 4 Broken Hard Milled (FOB bulk NOLA) -5 $535US 3 15 Broken Hard Milled (FOB bulk NOLA) -5 $525US 5 20 Broken Hard Milled (FOB Lake Charles) -5 $535US 1 Parboiled Milled 4 Broken (FOB bulk NOLA) 0 $550US 2 Paddy 5570 Yield (FOB bulk NOLA) 0 $310Southern Flour Quality Broken Rice (ex-works) 0 $353Southern Pet Food Quality Broken Rice (ex-works) +16 $325
B
All figures rounded to two decimal places
Country Volume (MTS)
Mexico 134600
Haiti 30500
Colombia 28800
Guatemala 8000
Canada 1900
MonthThursdayrsquos Close Price
cwt
Net Change from Wednesday
cwt
Net Change from previous
Thursdaycwt
Thursdayrsquos Close Price
PMT
Net Change from Wednesday
PMT
Net Change from previous
Thursday PMT
July 2018 $1122 -$034 -$035 $24725 -$750 -$761September 2018 $1085 -$032 -$049 $23920 -$705 -$1080
November 2018 $1105 -$032 -$049 $24361 -$694 -$1080
January 2019 $1125 -$038 -$046 $24791 -$838 -$1014March 2019 $1125 -$038 -$046 $24791 -$838 -$1014
May 2019 $1125 -$038 -$046 $24791 -$838 -$1014July 2019 $1125 -$038 -$046 $24791 -$838 -$1014
CBOT Rough Rice Futures
Country Volume (MTS)Mexico 123900
Haiti 15000
Honduras 5000
Canada 1600
Colombia 600
State Very Poor Poor Fair Good ExcellentArkansas 1 3 26 56 14California - - 10 85 5Louisiana - 4 26 63 7
Mississippi - - 16 56 28Missouri - 5 27 51 17
Texas - 5 30 55 106 States - 3 23 62 12
State 3 June 2017
27 May 2018
3 June 2018
2013-17 Average
Arkansas 99 95 99 94California 47 42 77 72Louisiana 100 99 100 98
Mississippi 97 84 92 89Missouri 90 83 96 92
Texas 98 89 95 956 States 90 85 95 91
USDA Rice Condition () USDA Rice Emerged ()
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 8
The Brazilian truckersrsquo strike ended at the start of the week although exporters remained cautious about concluding fresh trade in case of continued logistical issues According to market participants trucking costs increased by around 40 following the end of the strike and freight costs increased by US $50 per FCL Although the Real depreciated by 349 from 1 ndash 7 June the average price of paddy in Rio Grande do Sul increased by 22 during the same period to BRL 3810 per 50kg (US $19525 PMT) Brazilian 5 broken white rice and Parboiled 5 STX both closed the week assessed up to US $475 PMT FOB FCL Brazilian broken rice closed the week assessed down to US $320 PMT FOB due to slow demand Results of Costa Ricarsquos 30 May tender for at least 19363 MTS of paddy are yet to be confirmed although speculation that TRC was awarded the full volume and that it would source the award from Brazil persisted Two vessels were loading rice in Rio Grande Port as of 7 June Casillo was loading 30000 MTS of paddy and Rivelin was loading 6000 MTS of rice pellets Casillo was also waiting to load a further 30000 MTS of paddy and Densa Sea Lion was waiting to be loaded with 28500 MTS of paddy
Demand from regular buyers supported Uruguayan rice prices with 5 broken white rice assessed unchanged at US $500 PMT FOB FCL Oliacutemar 5 broken white rice is also assessed unchanged at US $510 PMT FOB FCL based on reported trade to Mexico Parboiled 5 STX closed the week assessed up to US $515 PMT FOB FCL based on
South AmericaCURRENCY BRL 4 Week Range
1 USD $ 390 355 ndash 395
CURRENCY ARS 4 Week Range
1 USD $ 2498 2235 ndash 2505
CURRENCY UYU 4 Week Range
1 USD $ 3121 2902 ndash 3143
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Argentine 5 Broken (FOB FCL) -6 $490Brazilian 5 Broken (FOB FCL) 0 $460Brazilian Broken Rice (12 Grain) (FOB Bulk) -3 $325Paraguayan 5 Broken (FOB FCL) 0 $375
S AMERICA - LONG GRAIN PARBOILED (FOB FCL)
CHANGE PRICE
Brazilian Parboiled Milled 5 Broken STX +20 $475Uruguayan Parboiled Milled 5 Broken STX +3 $515 CURRENCY PYG 4 Week Range
1 USD $ 5698 5563 - 5765
Country Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TotalBrazil 2017 79290 51106 46243 37926 77181 42893 112569 60659 109450 91988 95339 65624 870268
Brazil 2018 161324 163549 193565 95845 614283
Argentina 2017 41002 29169 26097 41507 82529 19285 37269 23233 28651 43788 18362 17060 407955
Argentina 2018 11999 24543 36543
Uruguay 2017 103606 122816 27526 67382 72917 122895 87482 89557 75406 85824 74996 52695 983103
Uruguay 2018 83019 107185 25598 97464 53460 366726
Sources IRGA Ministerio de Agroindustria de Argentina Uruguay XXI
Brazilian Paddy Prices - 080617 - 070618 Source ESALQ
South American Export Statistics (MTS)
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Uruguayan Oliacutemar 5 Broken (FOB FCL) 0 $510Argentine 5 Broken (FOB FCL) -5 $485
Brazilian 5 Broken (FOB FCL) +20 $475Brazilian Broken Rice (12 Grain Brokens) (FOB Bulk) -5 $320Paraguayan 5 Broken (FOB FCL) +5 $400
reported trade to Peru Guatemala and Costa Rica Uruguayan rice exports in May 2018 totalled 53460 MTS according to Uruguay XXI This represents a 46 month-on-month decrease and a 267 year-on-year decrease Paddy comprised 280 MTS of this volume brown rice comprised 8359 MTS milled rice comprised 44014 MTS and broken rice comprised the remaining 807 MTS Exports during 2018 so far totalled 366726 MTS (-698) as of 31 May Iraq imported the largest volume of Uruguayan rice during this period (milled 93000 MTS) followed by Peru (milled 74772 MTS) Venezuela (paddy and milled 46756 MTS) and Mexico (milled 30870 MTS)
A 30000 MT paddy sale to Venezuela white rice demand from Central American destinations and brown rice enquiries from Europe were reported in the Argentine market this week A 12000 MT sale of Argentine 100 broken rice to Africa for July shipment was also reported However Brazilian enquiries were minimal and some exporters were willing to lower their offers to conclude business Argentine 5 broken white rice closed the week assessed down to US $485 PMT FOB FCL
The depreciation of the Brazilian Real against the US Dollar curtailed Brazilian purchases of Paraguayan rice this week although the processing of last monthrsquos sale to Iraq continued to occupy Paraguayan mills Paraguayan 5 broken white rice is assessed up to US $400 PMT FOB FCL as lower offers were no longer available
IndiaIndian non-Basmati demand remained subdued as buyers waited for prices to soften Although an 036 appreciation of the Rupee against the US Dollar between 1 ndash 6 June initially supported prices the increase of Bangladeshrsquos import tariff from 2 to 28 on Thursday (7 June see page 12) put renewed pressure on prices Indian 5 broken white rice closed the week assessed down to US $408 PMT FOB based on reported trade to Ghana and 25 broken white rice closed the week assessed down to US $375 PMT FOB as lower offers were available Rice stocks in Senegal remained high and subsequently sales of broken rice were slow 100 broken white rice closed the week assessed down to US $305 PMT FOB Buyers in Benin continued to make parboiled rice enquiries although concluded trade was minimal Parboiled 5 STX closed the week assessed up to US $395 PMT FOB as lower offers were no longer available following the currency movements
Two vessels were being loaded with a total of 43000 MTS of rice in Kakinada Port on 4 June a 162 increase in volume from 31 May Olam was loading 37000
CURRENCY INR 4 Week Range
1 USD $ 6761 6682 ndash 6848
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
B
MTS of Parboiled 5 broken for Guinea and Robiul Islam was loading 6000 MTS of Parboiled 5 broken for Bangladesh Milled rice stocks in the Food Corporation of Indiarsquos (FCI) central pool totalled 2536 million MTS as of 1 May 2018 This represents a 197 increase from 1 April 2018 and a 111 increase year-on-year Paddy stocks in the FCIrsquos central pool totalled 654 million MTS in May down by 152 from April and down by 299 year-on-year
Middle Eastern and domestic demand for milled and parboiled Basmati increased ahead of the end of Ramadan (14 June) The appreciation of the Rupee also supported Basmati prices with 1121 Parboiled Basmati 2 broken assessed up to US $1040 PMT FOB FCL European enquiries supported the price of Pusa Brown Basmati 2 broken which is assessed up to US $900 PMT FOB FCL
Water levels in Indiarsquos 91 major reservoirs totalled 267 billion cubic metres as of 7 June according to the Ministry of Water Resources River Development and Ganga Rejuvenation This represents 17 of the reservoirsrsquo total capacity and is a 361 decline from 31 May and down by 17 year-on-year Please see the table below for more details
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 9
State 201617 201718Andhra Pradesh 372 374
Telangana 360 357
Assam 005 002
Bihar 123 079
Chandigarh 001 001
Chhattisgarh 402 321
Gujarat 000 000
Haryana 358 399
Himachal Pradesh 000 000
Jharkhand 014 014
Jammu and Kashmir 000 001
Karnataka 000 000
Kerala 031 033
Madhya Pradesh 131 110
Maharashtra 031 017
Odisha 363 301
Punjab 1110 1183
Rajasthan 000 000
Tamil Nadu 014 078
Uttar Pradesh 235 288
Uttrakhand 071 004
West Bengal 192 005
Total 3811 3566
State Rice Procurement (MMTS) Source Food Corporation of India
Indian and Pakistani Basmati exports to the EU (MTS) - 050618Source European Commissionrsquos DG of Agriculture and
Rural Development Country India Pakistan Total
201415 (Sep - Aug) 187455 128430 315885
201516 (Sep - Aug) 228912 118264 347176
201617 (Sep - Aug) 212960 89787 302747
201718 (Sep - Aug) 199341 153173 352515
Year-on-year change 201617 - 201718 -640 +706 +164
Procurement up until 080618
Region Number of Reservoirs
Total Storage Capacity (billion cubic metres)
Water Level as of 070618 (billion
cubic metres)
Change year-on-year
Northern 6 1801 257 -451
Eastern 15 1883 401 -113
Western 27 3126 439 -261
Central 12 4230 942 -281
Southern 31 5159 634 +756
Total 91 16199 277 -17
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 1 0
EuropeOur assessments of Italian Indica 5 broken white rice and Arborio 5 broken white rice are both unchanged at EUR euro510 PMT ex-works and EUR euro650 PMT ex-works respectively with minimal market activity reported However market participants expect demand for Indica paddy from Italian mills to improve in the coming days which could lead to an increase in Indica paddy and milled prices next week Planting of the 2018 crop is concluding and although harvesting is due to begin in September one mill believed that new crop paddy may not be available until October
EU Rice Prices - 050618Source European Commissionrsquos DG of Agriculture
and Rural Development (Prices EUR euro PMT Ex-Market)
Country Paddy Price Previous Week
Italy
Balilla euro33100 euro33600
Ribe euro38400 euro38400
Thaibonnet euro30700 euro28800
SpainJaponica euro32709 euro32709
Indica euro31426 euro31426
PortugalJaponica NQ NQ
Indica NQ NQ
Greece
Moyen NQ NQ
Japonica euro30600 euro28700
Indica euro28100 euro29000
RomaniaJaponica NQ euro40304
Indica euro30947 NQ
Bulgaria Japonica euro26843 euro26843
Country 5 Broken Price Previous Week
Italy
Rond euro65000 euro65000
Ribe euro71000 euro71000
Thaibonnet euro58000 euro58000
SpainJaponica euro55354 euro55354
Indica euro50344 euro50344
RomaniaJaponica euro85534 euro87290
Indica euro64473 euro67030
Bulgaria Japonica euro71582 euro71582
FranceJaponica euro68000 euro68000
Indica euro62000 euro60000
Country 100 Broken Price Previous Week
Italy Mezzagrana NQ NQ
Bulgaria Japonica NQ NQ
France Camargue NQ NQ
Cumulative Imports 010917 - 050618Source European Commissionrsquos DG
of Agriculture
Country Volume (MTS)Belgium 61304
Bulgaria 10098
Czech Republic 31399
Denmark 8438
Germany 81275
Estonia 553
Ireland 2327
Greece 7400
Spain 50567
France 144744
Croatia 2831
Italy 69379
Cyprus 2560
Latvia 2004
Lithuania 8965
Luxembourg 0
Hungary 11788
Malta 36
Netherlands 107989
Austria 4586
Poland 74015
Portugal 54070
Romania 2524
Slovenia 5
Slovakia 132
Finland 1426
Sweden 22663
UK 198524
Total 961602
CURRENCY EUR 4 Week Range
1 USD $ 085 083 ndash 087
Paddy Prices - 050618Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMaximumrsquo Price
PreviouslsquoMaximumrsquo
PriceBalilla Centauro and similar euro33100 euro33600
Sole CL euro27900 euro28400
Selenio and similar euro30700 euro30700
Ribe euro38400 euro38400
Loto and similar euro38400 euro38400
Augusto euro38400 euro38400
S Andrea and similar euro33600 euro33600
Roma and similar euro33600 euro33600
Baldo and similar euro43300 euro43300
Arborio and Volano euro33500 euro33500
Carnaroli and similar euro33300 euro33300
Thaibonnet and similar euro30700 euro30700
Milled Prices - 290518Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMinimumrsquo Price
PreviouslsquoMinimumrsquo
PriceOriginario euro57000 euro57000
Selenio euro55000 euro55000S Andrea euro60000 euro60000
Roma euro60000 euro60000
Baldo euro81000 euro81000
Ribe euro66000 euro66000
Augusto euro67000 euro67000
Arborio euro62000 euro62000
Carnaroli euro64000 euro64000
Thaibonnet euro54000 euro51000
ParboiledRibe euro76000 euro76000
Baldo euro91000 euro91000
Thaibonnet euro64000 euro61000
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice (ex-works) 0 euro510Arborio 5 broken white rice (ex-works) 0 euro650
LRI Assessment
EU rice imports during the first eight months of the 201718 marketing year (September ndash August) totalled 840451 MTS (milled equivalent excluding broken rice) up by 198 year-on-year according to the EU Commission Milledsemi-milled rice imports totalled 491215 MTS (+102) broken rice imports totalled 299513 MTS (+273) husked Basmati imports totalled 226255 MTS (+31) husked non-Basmati imports totalled 113215 MTS (-166) and paddy imports totalled 9767 MTS (-668) Imports under the Everything But Arms (EBA) agreement totalled 233574 MTS (milled equivalent excluding broken rice -196) during the same period Rice imported in packages weighing less than 5kg totalled 48773 MTS (+74) and rice imported in 5 ndash 20kg packages totalled 162821 MTS (+851)
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
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AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
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Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
Report Date 08062018
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P a g e 0 4
Bitesize Rice News
USAbull KCCO cancels tender for
17000 MTS of white rice will retender on 12 June
bull Col-Rice holds import licence auction results are pending
(page 7)
South America bull Uruguayan exports totalled 53460 MTS during May 2018
bull Argentina sells 30000 MTS of paddy to Venezuela
(page 8)
Thailand bull TREA forecasts 2018 milled rice exports at
10 million MTS (page 5)
Bangladesh bull Government raises
rice import tariff from 2 to 28(page 12)
Vietnambull Milled rice exports totalled 243 million
MTS during January - April 2018(page 6)
Pakistan bull TCP awards the full 3000 MTS of white
rice in its 1 June domestic tender
(page 6)
Egypt bull Government will allow paddy white and brown
rice imports to cover requirements
(page 12)
Report Date 08062018
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P a g e 0 5
ThailandThe Thai market was quiet and exporters lowered their parboiled and white rice offers to attract fresh demand Covering of recent tender sales to the Philippinesrsquo National Food Authority has concluded and an off-season harvest is expected to begin to arrive on to the market within the next two weeks putting additional pressure on long grain prices Thai 5 broken white rice and Parboiled 100 STX are both assessed down to US $420 PMT FOB A1 Super 100 broken white rice also closed the week assessed down to US $370 PMT FOB as supply improved There continued to be a firm undertone to the fragrant rice market with the local price of Hom Mali 100 Grade B increasing by THB 40 per 100kg (US $1250 PMT) this week according to the Department of Internal Trade Our assessment of Hom Mali 100 Grade B closed the week up to US $1210 PMT FOB FCL which is the highest ever LRI price assessment for this variety However international demand remained extremely quiet with buyers reporting that they have switched to purchasing Vietnamese KDM and Cambodian Phka Malis White Glutinous rice 10 broken is assessed down to US $627 PMT FOB FCL with slow demand reported According to the USDA Thai 2018 milled rice production is forecast to increase by 61 year-on-year to 204 million MTS This is based on favourable weather conditions in addition to expected increases in harvested area (107 million hectares +43) and the average field yield (289 MTSha +18) Substantial increases in irrigated land in the north northeast and central plains also encouraged planting Favourable financial
B
returns for fragrant rice varieties have encouraged a significant increase in fragrant rice planting in the northeast Exports are forecast to fall to 105 million MTS (milled equivalent -97) due to the liquidation of government old crop stocks Exports of white and parboiled rice between January ndash April 2018 increased by 49 and 222 year-on-year to 183 million MTS and 979230 MTS respectively However fragrant and glutinous rice exports have declined by 22 and 29 over the same period to 723397 MTS and 150910 MTS respectively Both consumption and ending stocks are expected to decrease to 115 million MTS (-42) and 275 million MTS (milled equivalent -343) respectively
Thai 2019 milled rice production is forecast to increase again to 212 million MTS (+39) with harvested area expected to rise to 111 million hectares (+43) As a result of increased production exports are forecast to rise to 11 million MTS (milled equivalent +48) Consumption is expected to continue to decline to 11 million MTS (-43) and ending stocks are forecast to increase to 319 million MTS (milled equivalent +16) The Thai Rice Exportersrsquo Association (TREA) has raised its target for 2018 exports from 95 million MTS to 10 million MTS according to local reports The revision follows better than expected sales during January ndash April Thailand exported 331 million MTS during this period which is a 38 year-on-year increase and a higher export volume than India Vietnam or Pakistan TREA attributes the export growth to improved demand from several destinations
CURRENCY THB 4 Week Range
1 USD $ 3208 3179 - 3228
THAILAND - LONG GRAIN WHITE RICE CHANGE PRICE
100 Grade B -7 $4305 Broken -7 $42010 Broken -7 $41815 Broken -10 $41025 Broken -9 $400A1 Super 100 Broken -6 $370
THAILAND - LONG GRAIN FRAGRANT RICE (FOB FCL)
CHANGE PRICE
Hom Mali White Rice 100 Grade B +20 $1210Hom Mali White Rice A1 Super 100 Broken -2 $450Pathumthani Fragrant 100 Grade B 0 $892
THAILAND - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 100 STX -5 $420Parboiled Milled Rice 100 -5 $410Parboiled Milled Rice 5 STX -5 $415Parboiled Milled Rice 5 -5 $405
THAILAND - LONG GRAIN GLUTINOUS RICE (FOB FCL)
CHANGE PRICE
White Glutinous Rice 10 Broken -15 $627White Glutinous Rice 10 Broken (Sanpathong) -32 $640White Glutinous 100 Broken Rice A1 0 $515
B
B
Export StatisticsUnofficial and preliminary rice exports (excluding premium white and fragrant rice) for 14 - 20 May 2018 totalled 152116 MTS down by 23351 MTS from the previous week Rice exports from 1 January - 20 May 2018 totalled 3547147 MTS
Report Date 08062018
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P a g e 0 6
The Vietnamese white rice market had a soft undertone as the SummerAutumn off-season crop began to arrive on to the market The bulk of the harvest is not due to arrive until midlate July and the quality of early arrivals is reportedly poor Market participants reported that local sellers are blending the WinterSpring and SummerAutumn crops with fragrant rice varieties for sales in the domestic market and that shipments to the Philippines Indonesia and Cuba are also being covered with a blend of rice from the SummerAutumn and WinterSpring crops Exporters were not willing to accept lower bids for WinterSpring crop white rice due to its higher quality and as supply tightens and 5 broken white rice closed the week assessed up to US $453 PMT FOB Offers of SummerAutumn crop 5 broken white rice were reported at around US $440 PMT FOB White rice sales remained slow although enquiries from private buyers in the Philippines were reported
Vietnam PakistanThe Trading Corporation of Pakistan awarded Garibsons the full 3000 MTS of Pakistani white rice in its 1 June domestic tender The awarded price was PKR 5367 per kg (US $462 PMT) CFR Cotonou with the rice ultimately destined for Niger Local market activity remained minimal due to slow demand and Ramadan although exporters believe that this will change after Eid al-Fitr (14 ndash 15 June) Many exporters anticipate that the Rupee will depreciate following Eid and that local traders will raise their prices in response Pakistani 5 broken white rice closed the week assessed down to US $433 PMT FOB with a normalised trade to Russia reported at this level Indian 100 broken white rice closed the week assessed up to US $340 PMT FOB as stockholders held their positions in the hope of fresh demand with limited local market trade Parboiled 5 STX closed the week assessed down to US $440 PMT FOB as lower offers were available Planting has been delayed in some areas of Sindh due to irrigation water shortages growing beliefs that the non-Basmati harvest may not begin until October have caused local sellers to hold on to their stocks According to local reports planted area in Punjab will total 44 million acres (178 million hectares) Of this total 380000 acres (153780ha) will be planted in Sailkot District 82000 acres (33184ha) will be planted in Daska 47000 acres (19020ha) will be planted in Sambrial and 180000 acres (72843ha) will be planted in Pasrur Tehsil
B
B
CURRENCY VND 4 Week Range
1 USD $ 22778 22733 ndash 22927
CURRENCY PKR 4 Week Range
1 USD $ 11588 11479 ndash 11608
Domestic demand continued to support the price of Fragrant 5 broken which is assessed unchanged at US $560 PMT FOB KDM 5 broken is assessed down to US $690 PMT FOB as lower offers were available Glutinous rice demand from buyers in China remained subdued and White Glutinous 10 broken is assessed unchanged at US $492 PMT FOB FCL
Vietnamese milled rice exports during the first four months of 2018 totalled 243 million MTS according to the USDA Exports during April totalled 791210 MTS up by 289 year-on-year Of this volume fragrant rice comprised 250707 MTS (+755) 15 broken white rice comprised 194215 MTS (+308) 5 broken white rice comprised 151410 MTS (+116) glutinous rice comprised 139913 MTS (-234) 100 broken white rice comprised 8544 MTS (-534) 25 broken white rice comprised 1965 MTS (-853) and 10 broken white rice comprised 365 MTS (-964)
For an update on local prices production and vessel loading please see page 13
VIETNAM - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Fragrant Rice 5 Broken 0 $560KDM Fragrant Rice 5 Broken -5 $690
VIETNAM - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken +5 $45310 Broken +5 $44815 Broken +2 $44225 Broken -4 $425100 Broken Rice +3 $378
B
PAKISTAN - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $433 10 Broken -2 $428 15 Broken -2 $423 25 Broken 0 $390 100 Broken Rice +2 $340 386 2 Broken -5 $625
PAKISTAN - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 Broken STX -5 $440Parboiled Milled Rice 15 Broken STX -5 $435
B
B
B
The Basmati market had a firm undertone due to domestic demand as Pakistanis observed Iftar although demand from Middle Eastern buyers remained minimal Super Kernel Basmati stocks continued to tighten due to ongoing European sales although Super Kernel White Basmati 2 broken is assessed down to US $1040 PMT FOB FCL as lower offers were available Pakistani 1121 Parboiled Basmati 2 broken closed the week assessed unchanged at US $1170 PMT FOB FCL with local demand reported Demand for 386 2 broken white rice remained subdued and this variety is assessed down to US $625 PMT FOB FCL
PAKISTAN - BASMATI RICE (FOB FCL) CHANGE PRICE
Super Kernel White Basmati Rice 2 -10 $1040Super Kernel Brown Basmati Rice 2 0 $990Super Kernel Parboiled Milled Basmati Rice 2 0 $11001121 Steam Basmati Rice 2 0 $12501121 Parboiled Milled Basmati Rice 2 0 $1170
VIETNAM - LONG GRAIN GLUTINOUS RICE CHANGE PRICE
White Glutinous Rice 10 Broken 0 $492
Export StatisticsFor the period 25 - 31 May 2018 net sales of 146200 MTS were recorded for
Exports for the same period reached 208400 MTS The primary destinations were
Report Date 08062018
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P a g e 0 7
USA The US Kansas City Commodity Office (KCCO) cancelled its 6 June domestic tender for 17000 MTS of US 2 7 broken long grain rice The KCCO will retender for this volume on 12 June the volume is destined for Burkina Faso Please click here for more details A Col-Rice auction was held yesterday (7 June) for 14995 MTS worth of import licences results are pending Some market participants believe that the results of this auction and the KCCOrsquos 12 June tender will signify the start of a bearish milled long grain market Aside from trade to regular buyers milled long grain demand has been minimal for months and the volatility in paddy futures pricing since the end of May has yet to affect milled rice prices US 2 4 broken white rice closed the week assessed down to US $535 PMT FOB bulk NOLA and unchanged at US $650 PMT FOB Lake Charles Due to the recent slowdown in milling US Southern Pet Food Quality broken rice is assessed up to US $325 PMT ex-works with many mills reluctant to make fresh offers for delivery before the harvest Although the USDA recorded net sales of 146200 MTS for 25 ndash 31 May (a marketing year high) 93500 MTS of this volume were late-recorded sales which were not concluded in this period The price of paddy was under pressure early in the week after the CBOT Rough Rice Futuresrsquo nearby July contract fell by US $050 per cwt (US $1102 PMT) between 4 ndash 5 June However this contract then gained US $061 per cwt (US $1345 PMT) on 6 June before falling by US $034 per cwt (US $750 PMT) on 7 June US 2 Paddy 5570 Yield is assessed unchanged
at US $310 PMT FOB bulk NOLA Paddy trade to Honduras for September shipment was reported and new crop paddy offers for October shipment were reported at US $335 PMT CIF Central American ports The KCCO awarded 1800 MTS of US 5 20 broken fortified long grain rice in its 5 June tender Supreme Rice was awarded the full volume with 1000 MTS awarded at a price of US $50772 PMT delivered intermodal bridge Houston and 800 MTS awarded at US $51353 PMT delivered intermodal bridge Houston The rice is destined for Cambodia please click here for more details In its last tender for US 5 20 broken fortified long grain rice on 2 May the KCCO awarded Beaumont Rice Mills 1600 MTS at US $49493 PMT delivered intermodal bridge Houston The KCCO will also retender for 2500 MTS of US 5 20 broken fortified long grain rice which were not awarded in its 5 June tender The retender will be held on 19 June and the volume is still destined for the Ivory Coast For more information on this retender click here Planting has now concluded in California with most market participants estimating total planted area at 505000 ndash 515000 acres (204366 ndash 208413ha) Calrose trade liquidity remained minimal and US 1 4 broken white rice closed the week assessed unchanged at US $990 PMT FAS FCL Oakland South Korearsquos Agro-Fisheries and Food Trade Corporation is considering a new medium grain tender market participants are unsure when it will be announced but delivery will be required after the new crop harvest
USA - CALIFORNIAN MEDIUM GRAIN RICE CHANGE PRICE
US 1 4 Broken (FAS FCL) 0 $990US 1 Paddy 5869 Yield (Ex-Works) 0 $542
USA - GULF LONG GRAIN RICE CHANGE PRICE
US 2 4 Broken Hard Milled (FOB Lake Charles) 0 $650US 2 4 Broken Hard Milled (FOB bulk NOLA) -5 $535US 3 15 Broken Hard Milled (FOB bulk NOLA) -5 $525US 5 20 Broken Hard Milled (FOB Lake Charles) -5 $535US 1 Parboiled Milled 4 Broken (FOB bulk NOLA) 0 $550US 2 Paddy 5570 Yield (FOB bulk NOLA) 0 $310Southern Flour Quality Broken Rice (ex-works) 0 $353Southern Pet Food Quality Broken Rice (ex-works) +16 $325
B
All figures rounded to two decimal places
Country Volume (MTS)
Mexico 134600
Haiti 30500
Colombia 28800
Guatemala 8000
Canada 1900
MonthThursdayrsquos Close Price
cwt
Net Change from Wednesday
cwt
Net Change from previous
Thursdaycwt
Thursdayrsquos Close Price
PMT
Net Change from Wednesday
PMT
Net Change from previous
Thursday PMT
July 2018 $1122 -$034 -$035 $24725 -$750 -$761September 2018 $1085 -$032 -$049 $23920 -$705 -$1080
November 2018 $1105 -$032 -$049 $24361 -$694 -$1080
January 2019 $1125 -$038 -$046 $24791 -$838 -$1014March 2019 $1125 -$038 -$046 $24791 -$838 -$1014
May 2019 $1125 -$038 -$046 $24791 -$838 -$1014July 2019 $1125 -$038 -$046 $24791 -$838 -$1014
CBOT Rough Rice Futures
Country Volume (MTS)Mexico 123900
Haiti 15000
Honduras 5000
Canada 1600
Colombia 600
State Very Poor Poor Fair Good ExcellentArkansas 1 3 26 56 14California - - 10 85 5Louisiana - 4 26 63 7
Mississippi - - 16 56 28Missouri - 5 27 51 17
Texas - 5 30 55 106 States - 3 23 62 12
State 3 June 2017
27 May 2018
3 June 2018
2013-17 Average
Arkansas 99 95 99 94California 47 42 77 72Louisiana 100 99 100 98
Mississippi 97 84 92 89Missouri 90 83 96 92
Texas 98 89 95 956 States 90 85 95 91
USDA Rice Condition () USDA Rice Emerged ()
Report Date 08062018
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P a g e 0 8
The Brazilian truckersrsquo strike ended at the start of the week although exporters remained cautious about concluding fresh trade in case of continued logistical issues According to market participants trucking costs increased by around 40 following the end of the strike and freight costs increased by US $50 per FCL Although the Real depreciated by 349 from 1 ndash 7 June the average price of paddy in Rio Grande do Sul increased by 22 during the same period to BRL 3810 per 50kg (US $19525 PMT) Brazilian 5 broken white rice and Parboiled 5 STX both closed the week assessed up to US $475 PMT FOB FCL Brazilian broken rice closed the week assessed down to US $320 PMT FOB due to slow demand Results of Costa Ricarsquos 30 May tender for at least 19363 MTS of paddy are yet to be confirmed although speculation that TRC was awarded the full volume and that it would source the award from Brazil persisted Two vessels were loading rice in Rio Grande Port as of 7 June Casillo was loading 30000 MTS of paddy and Rivelin was loading 6000 MTS of rice pellets Casillo was also waiting to load a further 30000 MTS of paddy and Densa Sea Lion was waiting to be loaded with 28500 MTS of paddy
Demand from regular buyers supported Uruguayan rice prices with 5 broken white rice assessed unchanged at US $500 PMT FOB FCL Oliacutemar 5 broken white rice is also assessed unchanged at US $510 PMT FOB FCL based on reported trade to Mexico Parboiled 5 STX closed the week assessed up to US $515 PMT FOB FCL based on
South AmericaCURRENCY BRL 4 Week Range
1 USD $ 390 355 ndash 395
CURRENCY ARS 4 Week Range
1 USD $ 2498 2235 ndash 2505
CURRENCY UYU 4 Week Range
1 USD $ 3121 2902 ndash 3143
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Argentine 5 Broken (FOB FCL) -6 $490Brazilian 5 Broken (FOB FCL) 0 $460Brazilian Broken Rice (12 Grain) (FOB Bulk) -3 $325Paraguayan 5 Broken (FOB FCL) 0 $375
S AMERICA - LONG GRAIN PARBOILED (FOB FCL)
CHANGE PRICE
Brazilian Parboiled Milled 5 Broken STX +20 $475Uruguayan Parboiled Milled 5 Broken STX +3 $515 CURRENCY PYG 4 Week Range
1 USD $ 5698 5563 - 5765
Country Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TotalBrazil 2017 79290 51106 46243 37926 77181 42893 112569 60659 109450 91988 95339 65624 870268
Brazil 2018 161324 163549 193565 95845 614283
Argentina 2017 41002 29169 26097 41507 82529 19285 37269 23233 28651 43788 18362 17060 407955
Argentina 2018 11999 24543 36543
Uruguay 2017 103606 122816 27526 67382 72917 122895 87482 89557 75406 85824 74996 52695 983103
Uruguay 2018 83019 107185 25598 97464 53460 366726
Sources IRGA Ministerio de Agroindustria de Argentina Uruguay XXI
Brazilian Paddy Prices - 080617 - 070618 Source ESALQ
South American Export Statistics (MTS)
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Uruguayan Oliacutemar 5 Broken (FOB FCL) 0 $510Argentine 5 Broken (FOB FCL) -5 $485
Brazilian 5 Broken (FOB FCL) +20 $475Brazilian Broken Rice (12 Grain Brokens) (FOB Bulk) -5 $320Paraguayan 5 Broken (FOB FCL) +5 $400
reported trade to Peru Guatemala and Costa Rica Uruguayan rice exports in May 2018 totalled 53460 MTS according to Uruguay XXI This represents a 46 month-on-month decrease and a 267 year-on-year decrease Paddy comprised 280 MTS of this volume brown rice comprised 8359 MTS milled rice comprised 44014 MTS and broken rice comprised the remaining 807 MTS Exports during 2018 so far totalled 366726 MTS (-698) as of 31 May Iraq imported the largest volume of Uruguayan rice during this period (milled 93000 MTS) followed by Peru (milled 74772 MTS) Venezuela (paddy and milled 46756 MTS) and Mexico (milled 30870 MTS)
A 30000 MT paddy sale to Venezuela white rice demand from Central American destinations and brown rice enquiries from Europe were reported in the Argentine market this week A 12000 MT sale of Argentine 100 broken rice to Africa for July shipment was also reported However Brazilian enquiries were minimal and some exporters were willing to lower their offers to conclude business Argentine 5 broken white rice closed the week assessed down to US $485 PMT FOB FCL
The depreciation of the Brazilian Real against the US Dollar curtailed Brazilian purchases of Paraguayan rice this week although the processing of last monthrsquos sale to Iraq continued to occupy Paraguayan mills Paraguayan 5 broken white rice is assessed up to US $400 PMT FOB FCL as lower offers were no longer available
IndiaIndian non-Basmati demand remained subdued as buyers waited for prices to soften Although an 036 appreciation of the Rupee against the US Dollar between 1 ndash 6 June initially supported prices the increase of Bangladeshrsquos import tariff from 2 to 28 on Thursday (7 June see page 12) put renewed pressure on prices Indian 5 broken white rice closed the week assessed down to US $408 PMT FOB based on reported trade to Ghana and 25 broken white rice closed the week assessed down to US $375 PMT FOB as lower offers were available Rice stocks in Senegal remained high and subsequently sales of broken rice were slow 100 broken white rice closed the week assessed down to US $305 PMT FOB Buyers in Benin continued to make parboiled rice enquiries although concluded trade was minimal Parboiled 5 STX closed the week assessed up to US $395 PMT FOB as lower offers were no longer available following the currency movements
Two vessels were being loaded with a total of 43000 MTS of rice in Kakinada Port on 4 June a 162 increase in volume from 31 May Olam was loading 37000
CURRENCY INR 4 Week Range
1 USD $ 6761 6682 ndash 6848
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
B
MTS of Parboiled 5 broken for Guinea and Robiul Islam was loading 6000 MTS of Parboiled 5 broken for Bangladesh Milled rice stocks in the Food Corporation of Indiarsquos (FCI) central pool totalled 2536 million MTS as of 1 May 2018 This represents a 197 increase from 1 April 2018 and a 111 increase year-on-year Paddy stocks in the FCIrsquos central pool totalled 654 million MTS in May down by 152 from April and down by 299 year-on-year
Middle Eastern and domestic demand for milled and parboiled Basmati increased ahead of the end of Ramadan (14 June) The appreciation of the Rupee also supported Basmati prices with 1121 Parboiled Basmati 2 broken assessed up to US $1040 PMT FOB FCL European enquiries supported the price of Pusa Brown Basmati 2 broken which is assessed up to US $900 PMT FOB FCL
Water levels in Indiarsquos 91 major reservoirs totalled 267 billion cubic metres as of 7 June according to the Ministry of Water Resources River Development and Ganga Rejuvenation This represents 17 of the reservoirsrsquo total capacity and is a 361 decline from 31 May and down by 17 year-on-year Please see the table below for more details
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 9
State 201617 201718Andhra Pradesh 372 374
Telangana 360 357
Assam 005 002
Bihar 123 079
Chandigarh 001 001
Chhattisgarh 402 321
Gujarat 000 000
Haryana 358 399
Himachal Pradesh 000 000
Jharkhand 014 014
Jammu and Kashmir 000 001
Karnataka 000 000
Kerala 031 033
Madhya Pradesh 131 110
Maharashtra 031 017
Odisha 363 301
Punjab 1110 1183
Rajasthan 000 000
Tamil Nadu 014 078
Uttar Pradesh 235 288
Uttrakhand 071 004
West Bengal 192 005
Total 3811 3566
State Rice Procurement (MMTS) Source Food Corporation of India
Indian and Pakistani Basmati exports to the EU (MTS) - 050618Source European Commissionrsquos DG of Agriculture and
Rural Development Country India Pakistan Total
201415 (Sep - Aug) 187455 128430 315885
201516 (Sep - Aug) 228912 118264 347176
201617 (Sep - Aug) 212960 89787 302747
201718 (Sep - Aug) 199341 153173 352515
Year-on-year change 201617 - 201718 -640 +706 +164
Procurement up until 080618
Region Number of Reservoirs
Total Storage Capacity (billion cubic metres)
Water Level as of 070618 (billion
cubic metres)
Change year-on-year
Northern 6 1801 257 -451
Eastern 15 1883 401 -113
Western 27 3126 439 -261
Central 12 4230 942 -281
Southern 31 5159 634 +756
Total 91 16199 277 -17
Report Date 08062018
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P a g e 1 0
EuropeOur assessments of Italian Indica 5 broken white rice and Arborio 5 broken white rice are both unchanged at EUR euro510 PMT ex-works and EUR euro650 PMT ex-works respectively with minimal market activity reported However market participants expect demand for Indica paddy from Italian mills to improve in the coming days which could lead to an increase in Indica paddy and milled prices next week Planting of the 2018 crop is concluding and although harvesting is due to begin in September one mill believed that new crop paddy may not be available until October
EU Rice Prices - 050618Source European Commissionrsquos DG of Agriculture
and Rural Development (Prices EUR euro PMT Ex-Market)
Country Paddy Price Previous Week
Italy
Balilla euro33100 euro33600
Ribe euro38400 euro38400
Thaibonnet euro30700 euro28800
SpainJaponica euro32709 euro32709
Indica euro31426 euro31426
PortugalJaponica NQ NQ
Indica NQ NQ
Greece
Moyen NQ NQ
Japonica euro30600 euro28700
Indica euro28100 euro29000
RomaniaJaponica NQ euro40304
Indica euro30947 NQ
Bulgaria Japonica euro26843 euro26843
Country 5 Broken Price Previous Week
Italy
Rond euro65000 euro65000
Ribe euro71000 euro71000
Thaibonnet euro58000 euro58000
SpainJaponica euro55354 euro55354
Indica euro50344 euro50344
RomaniaJaponica euro85534 euro87290
Indica euro64473 euro67030
Bulgaria Japonica euro71582 euro71582
FranceJaponica euro68000 euro68000
Indica euro62000 euro60000
Country 100 Broken Price Previous Week
Italy Mezzagrana NQ NQ
Bulgaria Japonica NQ NQ
France Camargue NQ NQ
Cumulative Imports 010917 - 050618Source European Commissionrsquos DG
of Agriculture
Country Volume (MTS)Belgium 61304
Bulgaria 10098
Czech Republic 31399
Denmark 8438
Germany 81275
Estonia 553
Ireland 2327
Greece 7400
Spain 50567
France 144744
Croatia 2831
Italy 69379
Cyprus 2560
Latvia 2004
Lithuania 8965
Luxembourg 0
Hungary 11788
Malta 36
Netherlands 107989
Austria 4586
Poland 74015
Portugal 54070
Romania 2524
Slovenia 5
Slovakia 132
Finland 1426
Sweden 22663
UK 198524
Total 961602
CURRENCY EUR 4 Week Range
1 USD $ 085 083 ndash 087
Paddy Prices - 050618Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMaximumrsquo Price
PreviouslsquoMaximumrsquo
PriceBalilla Centauro and similar euro33100 euro33600
Sole CL euro27900 euro28400
Selenio and similar euro30700 euro30700
Ribe euro38400 euro38400
Loto and similar euro38400 euro38400
Augusto euro38400 euro38400
S Andrea and similar euro33600 euro33600
Roma and similar euro33600 euro33600
Baldo and similar euro43300 euro43300
Arborio and Volano euro33500 euro33500
Carnaroli and similar euro33300 euro33300
Thaibonnet and similar euro30700 euro30700
Milled Prices - 290518Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMinimumrsquo Price
PreviouslsquoMinimumrsquo
PriceOriginario euro57000 euro57000
Selenio euro55000 euro55000S Andrea euro60000 euro60000
Roma euro60000 euro60000
Baldo euro81000 euro81000
Ribe euro66000 euro66000
Augusto euro67000 euro67000
Arborio euro62000 euro62000
Carnaroli euro64000 euro64000
Thaibonnet euro54000 euro51000
ParboiledRibe euro76000 euro76000
Baldo euro91000 euro91000
Thaibonnet euro64000 euro61000
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice (ex-works) 0 euro510Arborio 5 broken white rice (ex-works) 0 euro650
LRI Assessment
EU rice imports during the first eight months of the 201718 marketing year (September ndash August) totalled 840451 MTS (milled equivalent excluding broken rice) up by 198 year-on-year according to the EU Commission Milledsemi-milled rice imports totalled 491215 MTS (+102) broken rice imports totalled 299513 MTS (+273) husked Basmati imports totalled 226255 MTS (+31) husked non-Basmati imports totalled 113215 MTS (-166) and paddy imports totalled 9767 MTS (-668) Imports under the Everything But Arms (EBA) agreement totalled 233574 MTS (milled equivalent excluding broken rice -196) during the same period Rice imported in packages weighing less than 5kg totalled 48773 MTS (+74) and rice imported in 5 ndash 20kg packages totalled 162821 MTS (+851)
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
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CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
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AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
Report Date 08062018
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P a g e 0 5
ThailandThe Thai market was quiet and exporters lowered their parboiled and white rice offers to attract fresh demand Covering of recent tender sales to the Philippinesrsquo National Food Authority has concluded and an off-season harvest is expected to begin to arrive on to the market within the next two weeks putting additional pressure on long grain prices Thai 5 broken white rice and Parboiled 100 STX are both assessed down to US $420 PMT FOB A1 Super 100 broken white rice also closed the week assessed down to US $370 PMT FOB as supply improved There continued to be a firm undertone to the fragrant rice market with the local price of Hom Mali 100 Grade B increasing by THB 40 per 100kg (US $1250 PMT) this week according to the Department of Internal Trade Our assessment of Hom Mali 100 Grade B closed the week up to US $1210 PMT FOB FCL which is the highest ever LRI price assessment for this variety However international demand remained extremely quiet with buyers reporting that they have switched to purchasing Vietnamese KDM and Cambodian Phka Malis White Glutinous rice 10 broken is assessed down to US $627 PMT FOB FCL with slow demand reported According to the USDA Thai 2018 milled rice production is forecast to increase by 61 year-on-year to 204 million MTS This is based on favourable weather conditions in addition to expected increases in harvested area (107 million hectares +43) and the average field yield (289 MTSha +18) Substantial increases in irrigated land in the north northeast and central plains also encouraged planting Favourable financial
B
returns for fragrant rice varieties have encouraged a significant increase in fragrant rice planting in the northeast Exports are forecast to fall to 105 million MTS (milled equivalent -97) due to the liquidation of government old crop stocks Exports of white and parboiled rice between January ndash April 2018 increased by 49 and 222 year-on-year to 183 million MTS and 979230 MTS respectively However fragrant and glutinous rice exports have declined by 22 and 29 over the same period to 723397 MTS and 150910 MTS respectively Both consumption and ending stocks are expected to decrease to 115 million MTS (-42) and 275 million MTS (milled equivalent -343) respectively
Thai 2019 milled rice production is forecast to increase again to 212 million MTS (+39) with harvested area expected to rise to 111 million hectares (+43) As a result of increased production exports are forecast to rise to 11 million MTS (milled equivalent +48) Consumption is expected to continue to decline to 11 million MTS (-43) and ending stocks are forecast to increase to 319 million MTS (milled equivalent +16) The Thai Rice Exportersrsquo Association (TREA) has raised its target for 2018 exports from 95 million MTS to 10 million MTS according to local reports The revision follows better than expected sales during January ndash April Thailand exported 331 million MTS during this period which is a 38 year-on-year increase and a higher export volume than India Vietnam or Pakistan TREA attributes the export growth to improved demand from several destinations
CURRENCY THB 4 Week Range
1 USD $ 3208 3179 - 3228
THAILAND - LONG GRAIN WHITE RICE CHANGE PRICE
100 Grade B -7 $4305 Broken -7 $42010 Broken -7 $41815 Broken -10 $41025 Broken -9 $400A1 Super 100 Broken -6 $370
THAILAND - LONG GRAIN FRAGRANT RICE (FOB FCL)
CHANGE PRICE
Hom Mali White Rice 100 Grade B +20 $1210Hom Mali White Rice A1 Super 100 Broken -2 $450Pathumthani Fragrant 100 Grade B 0 $892
THAILAND - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 100 STX -5 $420Parboiled Milled Rice 100 -5 $410Parboiled Milled Rice 5 STX -5 $415Parboiled Milled Rice 5 -5 $405
THAILAND - LONG GRAIN GLUTINOUS RICE (FOB FCL)
CHANGE PRICE
White Glutinous Rice 10 Broken -15 $627White Glutinous Rice 10 Broken (Sanpathong) -32 $640White Glutinous 100 Broken Rice A1 0 $515
B
B
Export StatisticsUnofficial and preliminary rice exports (excluding premium white and fragrant rice) for 14 - 20 May 2018 totalled 152116 MTS down by 23351 MTS from the previous week Rice exports from 1 January - 20 May 2018 totalled 3547147 MTS
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 6
The Vietnamese white rice market had a soft undertone as the SummerAutumn off-season crop began to arrive on to the market The bulk of the harvest is not due to arrive until midlate July and the quality of early arrivals is reportedly poor Market participants reported that local sellers are blending the WinterSpring and SummerAutumn crops with fragrant rice varieties for sales in the domestic market and that shipments to the Philippines Indonesia and Cuba are also being covered with a blend of rice from the SummerAutumn and WinterSpring crops Exporters were not willing to accept lower bids for WinterSpring crop white rice due to its higher quality and as supply tightens and 5 broken white rice closed the week assessed up to US $453 PMT FOB Offers of SummerAutumn crop 5 broken white rice were reported at around US $440 PMT FOB White rice sales remained slow although enquiries from private buyers in the Philippines were reported
Vietnam PakistanThe Trading Corporation of Pakistan awarded Garibsons the full 3000 MTS of Pakistani white rice in its 1 June domestic tender The awarded price was PKR 5367 per kg (US $462 PMT) CFR Cotonou with the rice ultimately destined for Niger Local market activity remained minimal due to slow demand and Ramadan although exporters believe that this will change after Eid al-Fitr (14 ndash 15 June) Many exporters anticipate that the Rupee will depreciate following Eid and that local traders will raise their prices in response Pakistani 5 broken white rice closed the week assessed down to US $433 PMT FOB with a normalised trade to Russia reported at this level Indian 100 broken white rice closed the week assessed up to US $340 PMT FOB as stockholders held their positions in the hope of fresh demand with limited local market trade Parboiled 5 STX closed the week assessed down to US $440 PMT FOB as lower offers were available Planting has been delayed in some areas of Sindh due to irrigation water shortages growing beliefs that the non-Basmati harvest may not begin until October have caused local sellers to hold on to their stocks According to local reports planted area in Punjab will total 44 million acres (178 million hectares) Of this total 380000 acres (153780ha) will be planted in Sailkot District 82000 acres (33184ha) will be planted in Daska 47000 acres (19020ha) will be planted in Sambrial and 180000 acres (72843ha) will be planted in Pasrur Tehsil
B
B
CURRENCY VND 4 Week Range
1 USD $ 22778 22733 ndash 22927
CURRENCY PKR 4 Week Range
1 USD $ 11588 11479 ndash 11608
Domestic demand continued to support the price of Fragrant 5 broken which is assessed unchanged at US $560 PMT FOB KDM 5 broken is assessed down to US $690 PMT FOB as lower offers were available Glutinous rice demand from buyers in China remained subdued and White Glutinous 10 broken is assessed unchanged at US $492 PMT FOB FCL
Vietnamese milled rice exports during the first four months of 2018 totalled 243 million MTS according to the USDA Exports during April totalled 791210 MTS up by 289 year-on-year Of this volume fragrant rice comprised 250707 MTS (+755) 15 broken white rice comprised 194215 MTS (+308) 5 broken white rice comprised 151410 MTS (+116) glutinous rice comprised 139913 MTS (-234) 100 broken white rice comprised 8544 MTS (-534) 25 broken white rice comprised 1965 MTS (-853) and 10 broken white rice comprised 365 MTS (-964)
For an update on local prices production and vessel loading please see page 13
VIETNAM - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Fragrant Rice 5 Broken 0 $560KDM Fragrant Rice 5 Broken -5 $690
VIETNAM - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken +5 $45310 Broken +5 $44815 Broken +2 $44225 Broken -4 $425100 Broken Rice +3 $378
B
PAKISTAN - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $433 10 Broken -2 $428 15 Broken -2 $423 25 Broken 0 $390 100 Broken Rice +2 $340 386 2 Broken -5 $625
PAKISTAN - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 Broken STX -5 $440Parboiled Milled Rice 15 Broken STX -5 $435
B
B
B
The Basmati market had a firm undertone due to domestic demand as Pakistanis observed Iftar although demand from Middle Eastern buyers remained minimal Super Kernel Basmati stocks continued to tighten due to ongoing European sales although Super Kernel White Basmati 2 broken is assessed down to US $1040 PMT FOB FCL as lower offers were available Pakistani 1121 Parboiled Basmati 2 broken closed the week assessed unchanged at US $1170 PMT FOB FCL with local demand reported Demand for 386 2 broken white rice remained subdued and this variety is assessed down to US $625 PMT FOB FCL
PAKISTAN - BASMATI RICE (FOB FCL) CHANGE PRICE
Super Kernel White Basmati Rice 2 -10 $1040Super Kernel Brown Basmati Rice 2 0 $990Super Kernel Parboiled Milled Basmati Rice 2 0 $11001121 Steam Basmati Rice 2 0 $12501121 Parboiled Milled Basmati Rice 2 0 $1170
VIETNAM - LONG GRAIN GLUTINOUS RICE CHANGE PRICE
White Glutinous Rice 10 Broken 0 $492
Export StatisticsFor the period 25 - 31 May 2018 net sales of 146200 MTS were recorded for
Exports for the same period reached 208400 MTS The primary destinations were
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 7
USA The US Kansas City Commodity Office (KCCO) cancelled its 6 June domestic tender for 17000 MTS of US 2 7 broken long grain rice The KCCO will retender for this volume on 12 June the volume is destined for Burkina Faso Please click here for more details A Col-Rice auction was held yesterday (7 June) for 14995 MTS worth of import licences results are pending Some market participants believe that the results of this auction and the KCCOrsquos 12 June tender will signify the start of a bearish milled long grain market Aside from trade to regular buyers milled long grain demand has been minimal for months and the volatility in paddy futures pricing since the end of May has yet to affect milled rice prices US 2 4 broken white rice closed the week assessed down to US $535 PMT FOB bulk NOLA and unchanged at US $650 PMT FOB Lake Charles Due to the recent slowdown in milling US Southern Pet Food Quality broken rice is assessed up to US $325 PMT ex-works with many mills reluctant to make fresh offers for delivery before the harvest Although the USDA recorded net sales of 146200 MTS for 25 ndash 31 May (a marketing year high) 93500 MTS of this volume were late-recorded sales which were not concluded in this period The price of paddy was under pressure early in the week after the CBOT Rough Rice Futuresrsquo nearby July contract fell by US $050 per cwt (US $1102 PMT) between 4 ndash 5 June However this contract then gained US $061 per cwt (US $1345 PMT) on 6 June before falling by US $034 per cwt (US $750 PMT) on 7 June US 2 Paddy 5570 Yield is assessed unchanged
at US $310 PMT FOB bulk NOLA Paddy trade to Honduras for September shipment was reported and new crop paddy offers for October shipment were reported at US $335 PMT CIF Central American ports The KCCO awarded 1800 MTS of US 5 20 broken fortified long grain rice in its 5 June tender Supreme Rice was awarded the full volume with 1000 MTS awarded at a price of US $50772 PMT delivered intermodal bridge Houston and 800 MTS awarded at US $51353 PMT delivered intermodal bridge Houston The rice is destined for Cambodia please click here for more details In its last tender for US 5 20 broken fortified long grain rice on 2 May the KCCO awarded Beaumont Rice Mills 1600 MTS at US $49493 PMT delivered intermodal bridge Houston The KCCO will also retender for 2500 MTS of US 5 20 broken fortified long grain rice which were not awarded in its 5 June tender The retender will be held on 19 June and the volume is still destined for the Ivory Coast For more information on this retender click here Planting has now concluded in California with most market participants estimating total planted area at 505000 ndash 515000 acres (204366 ndash 208413ha) Calrose trade liquidity remained minimal and US 1 4 broken white rice closed the week assessed unchanged at US $990 PMT FAS FCL Oakland South Korearsquos Agro-Fisheries and Food Trade Corporation is considering a new medium grain tender market participants are unsure when it will be announced but delivery will be required after the new crop harvest
USA - CALIFORNIAN MEDIUM GRAIN RICE CHANGE PRICE
US 1 4 Broken (FAS FCL) 0 $990US 1 Paddy 5869 Yield (Ex-Works) 0 $542
USA - GULF LONG GRAIN RICE CHANGE PRICE
US 2 4 Broken Hard Milled (FOB Lake Charles) 0 $650US 2 4 Broken Hard Milled (FOB bulk NOLA) -5 $535US 3 15 Broken Hard Milled (FOB bulk NOLA) -5 $525US 5 20 Broken Hard Milled (FOB Lake Charles) -5 $535US 1 Parboiled Milled 4 Broken (FOB bulk NOLA) 0 $550US 2 Paddy 5570 Yield (FOB bulk NOLA) 0 $310Southern Flour Quality Broken Rice (ex-works) 0 $353Southern Pet Food Quality Broken Rice (ex-works) +16 $325
B
All figures rounded to two decimal places
Country Volume (MTS)
Mexico 134600
Haiti 30500
Colombia 28800
Guatemala 8000
Canada 1900
MonthThursdayrsquos Close Price
cwt
Net Change from Wednesday
cwt
Net Change from previous
Thursdaycwt
Thursdayrsquos Close Price
PMT
Net Change from Wednesday
PMT
Net Change from previous
Thursday PMT
July 2018 $1122 -$034 -$035 $24725 -$750 -$761September 2018 $1085 -$032 -$049 $23920 -$705 -$1080
November 2018 $1105 -$032 -$049 $24361 -$694 -$1080
January 2019 $1125 -$038 -$046 $24791 -$838 -$1014March 2019 $1125 -$038 -$046 $24791 -$838 -$1014
May 2019 $1125 -$038 -$046 $24791 -$838 -$1014July 2019 $1125 -$038 -$046 $24791 -$838 -$1014
CBOT Rough Rice Futures
Country Volume (MTS)Mexico 123900
Haiti 15000
Honduras 5000
Canada 1600
Colombia 600
State Very Poor Poor Fair Good ExcellentArkansas 1 3 26 56 14California - - 10 85 5Louisiana - 4 26 63 7
Mississippi - - 16 56 28Missouri - 5 27 51 17
Texas - 5 30 55 106 States - 3 23 62 12
State 3 June 2017
27 May 2018
3 June 2018
2013-17 Average
Arkansas 99 95 99 94California 47 42 77 72Louisiana 100 99 100 98
Mississippi 97 84 92 89Missouri 90 83 96 92
Texas 98 89 95 956 States 90 85 95 91
USDA Rice Condition () USDA Rice Emerged ()
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 8
The Brazilian truckersrsquo strike ended at the start of the week although exporters remained cautious about concluding fresh trade in case of continued logistical issues According to market participants trucking costs increased by around 40 following the end of the strike and freight costs increased by US $50 per FCL Although the Real depreciated by 349 from 1 ndash 7 June the average price of paddy in Rio Grande do Sul increased by 22 during the same period to BRL 3810 per 50kg (US $19525 PMT) Brazilian 5 broken white rice and Parboiled 5 STX both closed the week assessed up to US $475 PMT FOB FCL Brazilian broken rice closed the week assessed down to US $320 PMT FOB due to slow demand Results of Costa Ricarsquos 30 May tender for at least 19363 MTS of paddy are yet to be confirmed although speculation that TRC was awarded the full volume and that it would source the award from Brazil persisted Two vessels were loading rice in Rio Grande Port as of 7 June Casillo was loading 30000 MTS of paddy and Rivelin was loading 6000 MTS of rice pellets Casillo was also waiting to load a further 30000 MTS of paddy and Densa Sea Lion was waiting to be loaded with 28500 MTS of paddy
Demand from regular buyers supported Uruguayan rice prices with 5 broken white rice assessed unchanged at US $500 PMT FOB FCL Oliacutemar 5 broken white rice is also assessed unchanged at US $510 PMT FOB FCL based on reported trade to Mexico Parboiled 5 STX closed the week assessed up to US $515 PMT FOB FCL based on
South AmericaCURRENCY BRL 4 Week Range
1 USD $ 390 355 ndash 395
CURRENCY ARS 4 Week Range
1 USD $ 2498 2235 ndash 2505
CURRENCY UYU 4 Week Range
1 USD $ 3121 2902 ndash 3143
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Argentine 5 Broken (FOB FCL) -6 $490Brazilian 5 Broken (FOB FCL) 0 $460Brazilian Broken Rice (12 Grain) (FOB Bulk) -3 $325Paraguayan 5 Broken (FOB FCL) 0 $375
S AMERICA - LONG GRAIN PARBOILED (FOB FCL)
CHANGE PRICE
Brazilian Parboiled Milled 5 Broken STX +20 $475Uruguayan Parboiled Milled 5 Broken STX +3 $515 CURRENCY PYG 4 Week Range
1 USD $ 5698 5563 - 5765
Country Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TotalBrazil 2017 79290 51106 46243 37926 77181 42893 112569 60659 109450 91988 95339 65624 870268
Brazil 2018 161324 163549 193565 95845 614283
Argentina 2017 41002 29169 26097 41507 82529 19285 37269 23233 28651 43788 18362 17060 407955
Argentina 2018 11999 24543 36543
Uruguay 2017 103606 122816 27526 67382 72917 122895 87482 89557 75406 85824 74996 52695 983103
Uruguay 2018 83019 107185 25598 97464 53460 366726
Sources IRGA Ministerio de Agroindustria de Argentina Uruguay XXI
Brazilian Paddy Prices - 080617 - 070618 Source ESALQ
South American Export Statistics (MTS)
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Uruguayan Oliacutemar 5 Broken (FOB FCL) 0 $510Argentine 5 Broken (FOB FCL) -5 $485
Brazilian 5 Broken (FOB FCL) +20 $475Brazilian Broken Rice (12 Grain Brokens) (FOB Bulk) -5 $320Paraguayan 5 Broken (FOB FCL) +5 $400
reported trade to Peru Guatemala and Costa Rica Uruguayan rice exports in May 2018 totalled 53460 MTS according to Uruguay XXI This represents a 46 month-on-month decrease and a 267 year-on-year decrease Paddy comprised 280 MTS of this volume brown rice comprised 8359 MTS milled rice comprised 44014 MTS and broken rice comprised the remaining 807 MTS Exports during 2018 so far totalled 366726 MTS (-698) as of 31 May Iraq imported the largest volume of Uruguayan rice during this period (milled 93000 MTS) followed by Peru (milled 74772 MTS) Venezuela (paddy and milled 46756 MTS) and Mexico (milled 30870 MTS)
A 30000 MT paddy sale to Venezuela white rice demand from Central American destinations and brown rice enquiries from Europe were reported in the Argentine market this week A 12000 MT sale of Argentine 100 broken rice to Africa for July shipment was also reported However Brazilian enquiries were minimal and some exporters were willing to lower their offers to conclude business Argentine 5 broken white rice closed the week assessed down to US $485 PMT FOB FCL
The depreciation of the Brazilian Real against the US Dollar curtailed Brazilian purchases of Paraguayan rice this week although the processing of last monthrsquos sale to Iraq continued to occupy Paraguayan mills Paraguayan 5 broken white rice is assessed up to US $400 PMT FOB FCL as lower offers were no longer available
IndiaIndian non-Basmati demand remained subdued as buyers waited for prices to soften Although an 036 appreciation of the Rupee against the US Dollar between 1 ndash 6 June initially supported prices the increase of Bangladeshrsquos import tariff from 2 to 28 on Thursday (7 June see page 12) put renewed pressure on prices Indian 5 broken white rice closed the week assessed down to US $408 PMT FOB based on reported trade to Ghana and 25 broken white rice closed the week assessed down to US $375 PMT FOB as lower offers were available Rice stocks in Senegal remained high and subsequently sales of broken rice were slow 100 broken white rice closed the week assessed down to US $305 PMT FOB Buyers in Benin continued to make parboiled rice enquiries although concluded trade was minimal Parboiled 5 STX closed the week assessed up to US $395 PMT FOB as lower offers were no longer available following the currency movements
Two vessels were being loaded with a total of 43000 MTS of rice in Kakinada Port on 4 June a 162 increase in volume from 31 May Olam was loading 37000
CURRENCY INR 4 Week Range
1 USD $ 6761 6682 ndash 6848
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
B
MTS of Parboiled 5 broken for Guinea and Robiul Islam was loading 6000 MTS of Parboiled 5 broken for Bangladesh Milled rice stocks in the Food Corporation of Indiarsquos (FCI) central pool totalled 2536 million MTS as of 1 May 2018 This represents a 197 increase from 1 April 2018 and a 111 increase year-on-year Paddy stocks in the FCIrsquos central pool totalled 654 million MTS in May down by 152 from April and down by 299 year-on-year
Middle Eastern and domestic demand for milled and parboiled Basmati increased ahead of the end of Ramadan (14 June) The appreciation of the Rupee also supported Basmati prices with 1121 Parboiled Basmati 2 broken assessed up to US $1040 PMT FOB FCL European enquiries supported the price of Pusa Brown Basmati 2 broken which is assessed up to US $900 PMT FOB FCL
Water levels in Indiarsquos 91 major reservoirs totalled 267 billion cubic metres as of 7 June according to the Ministry of Water Resources River Development and Ganga Rejuvenation This represents 17 of the reservoirsrsquo total capacity and is a 361 decline from 31 May and down by 17 year-on-year Please see the table below for more details
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 9
State 201617 201718Andhra Pradesh 372 374
Telangana 360 357
Assam 005 002
Bihar 123 079
Chandigarh 001 001
Chhattisgarh 402 321
Gujarat 000 000
Haryana 358 399
Himachal Pradesh 000 000
Jharkhand 014 014
Jammu and Kashmir 000 001
Karnataka 000 000
Kerala 031 033
Madhya Pradesh 131 110
Maharashtra 031 017
Odisha 363 301
Punjab 1110 1183
Rajasthan 000 000
Tamil Nadu 014 078
Uttar Pradesh 235 288
Uttrakhand 071 004
West Bengal 192 005
Total 3811 3566
State Rice Procurement (MMTS) Source Food Corporation of India
Indian and Pakistani Basmati exports to the EU (MTS) - 050618Source European Commissionrsquos DG of Agriculture and
Rural Development Country India Pakistan Total
201415 (Sep - Aug) 187455 128430 315885
201516 (Sep - Aug) 228912 118264 347176
201617 (Sep - Aug) 212960 89787 302747
201718 (Sep - Aug) 199341 153173 352515
Year-on-year change 201617 - 201718 -640 +706 +164
Procurement up until 080618
Region Number of Reservoirs
Total Storage Capacity (billion cubic metres)
Water Level as of 070618 (billion
cubic metres)
Change year-on-year
Northern 6 1801 257 -451
Eastern 15 1883 401 -113
Western 27 3126 439 -261
Central 12 4230 942 -281
Southern 31 5159 634 +756
Total 91 16199 277 -17
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 1 0
EuropeOur assessments of Italian Indica 5 broken white rice and Arborio 5 broken white rice are both unchanged at EUR euro510 PMT ex-works and EUR euro650 PMT ex-works respectively with minimal market activity reported However market participants expect demand for Indica paddy from Italian mills to improve in the coming days which could lead to an increase in Indica paddy and milled prices next week Planting of the 2018 crop is concluding and although harvesting is due to begin in September one mill believed that new crop paddy may not be available until October
EU Rice Prices - 050618Source European Commissionrsquos DG of Agriculture
and Rural Development (Prices EUR euro PMT Ex-Market)
Country Paddy Price Previous Week
Italy
Balilla euro33100 euro33600
Ribe euro38400 euro38400
Thaibonnet euro30700 euro28800
SpainJaponica euro32709 euro32709
Indica euro31426 euro31426
PortugalJaponica NQ NQ
Indica NQ NQ
Greece
Moyen NQ NQ
Japonica euro30600 euro28700
Indica euro28100 euro29000
RomaniaJaponica NQ euro40304
Indica euro30947 NQ
Bulgaria Japonica euro26843 euro26843
Country 5 Broken Price Previous Week
Italy
Rond euro65000 euro65000
Ribe euro71000 euro71000
Thaibonnet euro58000 euro58000
SpainJaponica euro55354 euro55354
Indica euro50344 euro50344
RomaniaJaponica euro85534 euro87290
Indica euro64473 euro67030
Bulgaria Japonica euro71582 euro71582
FranceJaponica euro68000 euro68000
Indica euro62000 euro60000
Country 100 Broken Price Previous Week
Italy Mezzagrana NQ NQ
Bulgaria Japonica NQ NQ
France Camargue NQ NQ
Cumulative Imports 010917 - 050618Source European Commissionrsquos DG
of Agriculture
Country Volume (MTS)Belgium 61304
Bulgaria 10098
Czech Republic 31399
Denmark 8438
Germany 81275
Estonia 553
Ireland 2327
Greece 7400
Spain 50567
France 144744
Croatia 2831
Italy 69379
Cyprus 2560
Latvia 2004
Lithuania 8965
Luxembourg 0
Hungary 11788
Malta 36
Netherlands 107989
Austria 4586
Poland 74015
Portugal 54070
Romania 2524
Slovenia 5
Slovakia 132
Finland 1426
Sweden 22663
UK 198524
Total 961602
CURRENCY EUR 4 Week Range
1 USD $ 085 083 ndash 087
Paddy Prices - 050618Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMaximumrsquo Price
PreviouslsquoMaximumrsquo
PriceBalilla Centauro and similar euro33100 euro33600
Sole CL euro27900 euro28400
Selenio and similar euro30700 euro30700
Ribe euro38400 euro38400
Loto and similar euro38400 euro38400
Augusto euro38400 euro38400
S Andrea and similar euro33600 euro33600
Roma and similar euro33600 euro33600
Baldo and similar euro43300 euro43300
Arborio and Volano euro33500 euro33500
Carnaroli and similar euro33300 euro33300
Thaibonnet and similar euro30700 euro30700
Milled Prices - 290518Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMinimumrsquo Price
PreviouslsquoMinimumrsquo
PriceOriginario euro57000 euro57000
Selenio euro55000 euro55000S Andrea euro60000 euro60000
Roma euro60000 euro60000
Baldo euro81000 euro81000
Ribe euro66000 euro66000
Augusto euro67000 euro67000
Arborio euro62000 euro62000
Carnaroli euro64000 euro64000
Thaibonnet euro54000 euro51000
ParboiledRibe euro76000 euro76000
Baldo euro91000 euro91000
Thaibonnet euro64000 euro61000
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice (ex-works) 0 euro510Arborio 5 broken white rice (ex-works) 0 euro650
LRI Assessment
EU rice imports during the first eight months of the 201718 marketing year (September ndash August) totalled 840451 MTS (milled equivalent excluding broken rice) up by 198 year-on-year according to the EU Commission Milledsemi-milled rice imports totalled 491215 MTS (+102) broken rice imports totalled 299513 MTS (+273) husked Basmati imports totalled 226255 MTS (+31) husked non-Basmati imports totalled 113215 MTS (-166) and paddy imports totalled 9767 MTS (-668) Imports under the Everything But Arms (EBA) agreement totalled 233574 MTS (milled equivalent excluding broken rice -196) during the same period Rice imported in packages weighing less than 5kg totalled 48773 MTS (+74) and rice imported in 5 ndash 20kg packages totalled 162821 MTS (+851)
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
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Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
Report Date 08062018
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P a g e 0 6
The Vietnamese white rice market had a soft undertone as the SummerAutumn off-season crop began to arrive on to the market The bulk of the harvest is not due to arrive until midlate July and the quality of early arrivals is reportedly poor Market participants reported that local sellers are blending the WinterSpring and SummerAutumn crops with fragrant rice varieties for sales in the domestic market and that shipments to the Philippines Indonesia and Cuba are also being covered with a blend of rice from the SummerAutumn and WinterSpring crops Exporters were not willing to accept lower bids for WinterSpring crop white rice due to its higher quality and as supply tightens and 5 broken white rice closed the week assessed up to US $453 PMT FOB Offers of SummerAutumn crop 5 broken white rice were reported at around US $440 PMT FOB White rice sales remained slow although enquiries from private buyers in the Philippines were reported
Vietnam PakistanThe Trading Corporation of Pakistan awarded Garibsons the full 3000 MTS of Pakistani white rice in its 1 June domestic tender The awarded price was PKR 5367 per kg (US $462 PMT) CFR Cotonou with the rice ultimately destined for Niger Local market activity remained minimal due to slow demand and Ramadan although exporters believe that this will change after Eid al-Fitr (14 ndash 15 June) Many exporters anticipate that the Rupee will depreciate following Eid and that local traders will raise their prices in response Pakistani 5 broken white rice closed the week assessed down to US $433 PMT FOB with a normalised trade to Russia reported at this level Indian 100 broken white rice closed the week assessed up to US $340 PMT FOB as stockholders held their positions in the hope of fresh demand with limited local market trade Parboiled 5 STX closed the week assessed down to US $440 PMT FOB as lower offers were available Planting has been delayed in some areas of Sindh due to irrigation water shortages growing beliefs that the non-Basmati harvest may not begin until October have caused local sellers to hold on to their stocks According to local reports planted area in Punjab will total 44 million acres (178 million hectares) Of this total 380000 acres (153780ha) will be planted in Sailkot District 82000 acres (33184ha) will be planted in Daska 47000 acres (19020ha) will be planted in Sambrial and 180000 acres (72843ha) will be planted in Pasrur Tehsil
B
B
CURRENCY VND 4 Week Range
1 USD $ 22778 22733 ndash 22927
CURRENCY PKR 4 Week Range
1 USD $ 11588 11479 ndash 11608
Domestic demand continued to support the price of Fragrant 5 broken which is assessed unchanged at US $560 PMT FOB KDM 5 broken is assessed down to US $690 PMT FOB as lower offers were available Glutinous rice demand from buyers in China remained subdued and White Glutinous 10 broken is assessed unchanged at US $492 PMT FOB FCL
Vietnamese milled rice exports during the first four months of 2018 totalled 243 million MTS according to the USDA Exports during April totalled 791210 MTS up by 289 year-on-year Of this volume fragrant rice comprised 250707 MTS (+755) 15 broken white rice comprised 194215 MTS (+308) 5 broken white rice comprised 151410 MTS (+116) glutinous rice comprised 139913 MTS (-234) 100 broken white rice comprised 8544 MTS (-534) 25 broken white rice comprised 1965 MTS (-853) and 10 broken white rice comprised 365 MTS (-964)
For an update on local prices production and vessel loading please see page 13
VIETNAM - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Fragrant Rice 5 Broken 0 $560KDM Fragrant Rice 5 Broken -5 $690
VIETNAM - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken +5 $45310 Broken +5 $44815 Broken +2 $44225 Broken -4 $425100 Broken Rice +3 $378
B
PAKISTAN - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $433 10 Broken -2 $428 15 Broken -2 $423 25 Broken 0 $390 100 Broken Rice +2 $340 386 2 Broken -5 $625
PAKISTAN - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 Broken STX -5 $440Parboiled Milled Rice 15 Broken STX -5 $435
B
B
B
The Basmati market had a firm undertone due to domestic demand as Pakistanis observed Iftar although demand from Middle Eastern buyers remained minimal Super Kernel Basmati stocks continued to tighten due to ongoing European sales although Super Kernel White Basmati 2 broken is assessed down to US $1040 PMT FOB FCL as lower offers were available Pakistani 1121 Parboiled Basmati 2 broken closed the week assessed unchanged at US $1170 PMT FOB FCL with local demand reported Demand for 386 2 broken white rice remained subdued and this variety is assessed down to US $625 PMT FOB FCL
PAKISTAN - BASMATI RICE (FOB FCL) CHANGE PRICE
Super Kernel White Basmati Rice 2 -10 $1040Super Kernel Brown Basmati Rice 2 0 $990Super Kernel Parboiled Milled Basmati Rice 2 0 $11001121 Steam Basmati Rice 2 0 $12501121 Parboiled Milled Basmati Rice 2 0 $1170
VIETNAM - LONG GRAIN GLUTINOUS RICE CHANGE PRICE
White Glutinous Rice 10 Broken 0 $492
Export StatisticsFor the period 25 - 31 May 2018 net sales of 146200 MTS were recorded for
Exports for the same period reached 208400 MTS The primary destinations were
Report Date 08062018
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P a g e 0 7
USA The US Kansas City Commodity Office (KCCO) cancelled its 6 June domestic tender for 17000 MTS of US 2 7 broken long grain rice The KCCO will retender for this volume on 12 June the volume is destined for Burkina Faso Please click here for more details A Col-Rice auction was held yesterday (7 June) for 14995 MTS worth of import licences results are pending Some market participants believe that the results of this auction and the KCCOrsquos 12 June tender will signify the start of a bearish milled long grain market Aside from trade to regular buyers milled long grain demand has been minimal for months and the volatility in paddy futures pricing since the end of May has yet to affect milled rice prices US 2 4 broken white rice closed the week assessed down to US $535 PMT FOB bulk NOLA and unchanged at US $650 PMT FOB Lake Charles Due to the recent slowdown in milling US Southern Pet Food Quality broken rice is assessed up to US $325 PMT ex-works with many mills reluctant to make fresh offers for delivery before the harvest Although the USDA recorded net sales of 146200 MTS for 25 ndash 31 May (a marketing year high) 93500 MTS of this volume were late-recorded sales which were not concluded in this period The price of paddy was under pressure early in the week after the CBOT Rough Rice Futuresrsquo nearby July contract fell by US $050 per cwt (US $1102 PMT) between 4 ndash 5 June However this contract then gained US $061 per cwt (US $1345 PMT) on 6 June before falling by US $034 per cwt (US $750 PMT) on 7 June US 2 Paddy 5570 Yield is assessed unchanged
at US $310 PMT FOB bulk NOLA Paddy trade to Honduras for September shipment was reported and new crop paddy offers for October shipment were reported at US $335 PMT CIF Central American ports The KCCO awarded 1800 MTS of US 5 20 broken fortified long grain rice in its 5 June tender Supreme Rice was awarded the full volume with 1000 MTS awarded at a price of US $50772 PMT delivered intermodal bridge Houston and 800 MTS awarded at US $51353 PMT delivered intermodal bridge Houston The rice is destined for Cambodia please click here for more details In its last tender for US 5 20 broken fortified long grain rice on 2 May the KCCO awarded Beaumont Rice Mills 1600 MTS at US $49493 PMT delivered intermodal bridge Houston The KCCO will also retender for 2500 MTS of US 5 20 broken fortified long grain rice which were not awarded in its 5 June tender The retender will be held on 19 June and the volume is still destined for the Ivory Coast For more information on this retender click here Planting has now concluded in California with most market participants estimating total planted area at 505000 ndash 515000 acres (204366 ndash 208413ha) Calrose trade liquidity remained minimal and US 1 4 broken white rice closed the week assessed unchanged at US $990 PMT FAS FCL Oakland South Korearsquos Agro-Fisheries and Food Trade Corporation is considering a new medium grain tender market participants are unsure when it will be announced but delivery will be required after the new crop harvest
USA - CALIFORNIAN MEDIUM GRAIN RICE CHANGE PRICE
US 1 4 Broken (FAS FCL) 0 $990US 1 Paddy 5869 Yield (Ex-Works) 0 $542
USA - GULF LONG GRAIN RICE CHANGE PRICE
US 2 4 Broken Hard Milled (FOB Lake Charles) 0 $650US 2 4 Broken Hard Milled (FOB bulk NOLA) -5 $535US 3 15 Broken Hard Milled (FOB bulk NOLA) -5 $525US 5 20 Broken Hard Milled (FOB Lake Charles) -5 $535US 1 Parboiled Milled 4 Broken (FOB bulk NOLA) 0 $550US 2 Paddy 5570 Yield (FOB bulk NOLA) 0 $310Southern Flour Quality Broken Rice (ex-works) 0 $353Southern Pet Food Quality Broken Rice (ex-works) +16 $325
B
All figures rounded to two decimal places
Country Volume (MTS)
Mexico 134600
Haiti 30500
Colombia 28800
Guatemala 8000
Canada 1900
MonthThursdayrsquos Close Price
cwt
Net Change from Wednesday
cwt
Net Change from previous
Thursdaycwt
Thursdayrsquos Close Price
PMT
Net Change from Wednesday
PMT
Net Change from previous
Thursday PMT
July 2018 $1122 -$034 -$035 $24725 -$750 -$761September 2018 $1085 -$032 -$049 $23920 -$705 -$1080
November 2018 $1105 -$032 -$049 $24361 -$694 -$1080
January 2019 $1125 -$038 -$046 $24791 -$838 -$1014March 2019 $1125 -$038 -$046 $24791 -$838 -$1014
May 2019 $1125 -$038 -$046 $24791 -$838 -$1014July 2019 $1125 -$038 -$046 $24791 -$838 -$1014
CBOT Rough Rice Futures
Country Volume (MTS)Mexico 123900
Haiti 15000
Honduras 5000
Canada 1600
Colombia 600
State Very Poor Poor Fair Good ExcellentArkansas 1 3 26 56 14California - - 10 85 5Louisiana - 4 26 63 7
Mississippi - - 16 56 28Missouri - 5 27 51 17
Texas - 5 30 55 106 States - 3 23 62 12
State 3 June 2017
27 May 2018
3 June 2018
2013-17 Average
Arkansas 99 95 99 94California 47 42 77 72Louisiana 100 99 100 98
Mississippi 97 84 92 89Missouri 90 83 96 92
Texas 98 89 95 956 States 90 85 95 91
USDA Rice Condition () USDA Rice Emerged ()
Report Date 08062018
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P a g e 0 8
The Brazilian truckersrsquo strike ended at the start of the week although exporters remained cautious about concluding fresh trade in case of continued logistical issues According to market participants trucking costs increased by around 40 following the end of the strike and freight costs increased by US $50 per FCL Although the Real depreciated by 349 from 1 ndash 7 June the average price of paddy in Rio Grande do Sul increased by 22 during the same period to BRL 3810 per 50kg (US $19525 PMT) Brazilian 5 broken white rice and Parboiled 5 STX both closed the week assessed up to US $475 PMT FOB FCL Brazilian broken rice closed the week assessed down to US $320 PMT FOB due to slow demand Results of Costa Ricarsquos 30 May tender for at least 19363 MTS of paddy are yet to be confirmed although speculation that TRC was awarded the full volume and that it would source the award from Brazil persisted Two vessels were loading rice in Rio Grande Port as of 7 June Casillo was loading 30000 MTS of paddy and Rivelin was loading 6000 MTS of rice pellets Casillo was also waiting to load a further 30000 MTS of paddy and Densa Sea Lion was waiting to be loaded with 28500 MTS of paddy
Demand from regular buyers supported Uruguayan rice prices with 5 broken white rice assessed unchanged at US $500 PMT FOB FCL Oliacutemar 5 broken white rice is also assessed unchanged at US $510 PMT FOB FCL based on reported trade to Mexico Parboiled 5 STX closed the week assessed up to US $515 PMT FOB FCL based on
South AmericaCURRENCY BRL 4 Week Range
1 USD $ 390 355 ndash 395
CURRENCY ARS 4 Week Range
1 USD $ 2498 2235 ndash 2505
CURRENCY UYU 4 Week Range
1 USD $ 3121 2902 ndash 3143
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Argentine 5 Broken (FOB FCL) -6 $490Brazilian 5 Broken (FOB FCL) 0 $460Brazilian Broken Rice (12 Grain) (FOB Bulk) -3 $325Paraguayan 5 Broken (FOB FCL) 0 $375
S AMERICA - LONG GRAIN PARBOILED (FOB FCL)
CHANGE PRICE
Brazilian Parboiled Milled 5 Broken STX +20 $475Uruguayan Parboiled Milled 5 Broken STX +3 $515 CURRENCY PYG 4 Week Range
1 USD $ 5698 5563 - 5765
Country Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TotalBrazil 2017 79290 51106 46243 37926 77181 42893 112569 60659 109450 91988 95339 65624 870268
Brazil 2018 161324 163549 193565 95845 614283
Argentina 2017 41002 29169 26097 41507 82529 19285 37269 23233 28651 43788 18362 17060 407955
Argentina 2018 11999 24543 36543
Uruguay 2017 103606 122816 27526 67382 72917 122895 87482 89557 75406 85824 74996 52695 983103
Uruguay 2018 83019 107185 25598 97464 53460 366726
Sources IRGA Ministerio de Agroindustria de Argentina Uruguay XXI
Brazilian Paddy Prices - 080617 - 070618 Source ESALQ
South American Export Statistics (MTS)
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Uruguayan Oliacutemar 5 Broken (FOB FCL) 0 $510Argentine 5 Broken (FOB FCL) -5 $485
Brazilian 5 Broken (FOB FCL) +20 $475Brazilian Broken Rice (12 Grain Brokens) (FOB Bulk) -5 $320Paraguayan 5 Broken (FOB FCL) +5 $400
reported trade to Peru Guatemala and Costa Rica Uruguayan rice exports in May 2018 totalled 53460 MTS according to Uruguay XXI This represents a 46 month-on-month decrease and a 267 year-on-year decrease Paddy comprised 280 MTS of this volume brown rice comprised 8359 MTS milled rice comprised 44014 MTS and broken rice comprised the remaining 807 MTS Exports during 2018 so far totalled 366726 MTS (-698) as of 31 May Iraq imported the largest volume of Uruguayan rice during this period (milled 93000 MTS) followed by Peru (milled 74772 MTS) Venezuela (paddy and milled 46756 MTS) and Mexico (milled 30870 MTS)
A 30000 MT paddy sale to Venezuela white rice demand from Central American destinations and brown rice enquiries from Europe were reported in the Argentine market this week A 12000 MT sale of Argentine 100 broken rice to Africa for July shipment was also reported However Brazilian enquiries were minimal and some exporters were willing to lower their offers to conclude business Argentine 5 broken white rice closed the week assessed down to US $485 PMT FOB FCL
The depreciation of the Brazilian Real against the US Dollar curtailed Brazilian purchases of Paraguayan rice this week although the processing of last monthrsquos sale to Iraq continued to occupy Paraguayan mills Paraguayan 5 broken white rice is assessed up to US $400 PMT FOB FCL as lower offers were no longer available
IndiaIndian non-Basmati demand remained subdued as buyers waited for prices to soften Although an 036 appreciation of the Rupee against the US Dollar between 1 ndash 6 June initially supported prices the increase of Bangladeshrsquos import tariff from 2 to 28 on Thursday (7 June see page 12) put renewed pressure on prices Indian 5 broken white rice closed the week assessed down to US $408 PMT FOB based on reported trade to Ghana and 25 broken white rice closed the week assessed down to US $375 PMT FOB as lower offers were available Rice stocks in Senegal remained high and subsequently sales of broken rice were slow 100 broken white rice closed the week assessed down to US $305 PMT FOB Buyers in Benin continued to make parboiled rice enquiries although concluded trade was minimal Parboiled 5 STX closed the week assessed up to US $395 PMT FOB as lower offers were no longer available following the currency movements
Two vessels were being loaded with a total of 43000 MTS of rice in Kakinada Port on 4 June a 162 increase in volume from 31 May Olam was loading 37000
CURRENCY INR 4 Week Range
1 USD $ 6761 6682 ndash 6848
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
B
MTS of Parboiled 5 broken for Guinea and Robiul Islam was loading 6000 MTS of Parboiled 5 broken for Bangladesh Milled rice stocks in the Food Corporation of Indiarsquos (FCI) central pool totalled 2536 million MTS as of 1 May 2018 This represents a 197 increase from 1 April 2018 and a 111 increase year-on-year Paddy stocks in the FCIrsquos central pool totalled 654 million MTS in May down by 152 from April and down by 299 year-on-year
Middle Eastern and domestic demand for milled and parboiled Basmati increased ahead of the end of Ramadan (14 June) The appreciation of the Rupee also supported Basmati prices with 1121 Parboiled Basmati 2 broken assessed up to US $1040 PMT FOB FCL European enquiries supported the price of Pusa Brown Basmati 2 broken which is assessed up to US $900 PMT FOB FCL
Water levels in Indiarsquos 91 major reservoirs totalled 267 billion cubic metres as of 7 June according to the Ministry of Water Resources River Development and Ganga Rejuvenation This represents 17 of the reservoirsrsquo total capacity and is a 361 decline from 31 May and down by 17 year-on-year Please see the table below for more details
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 9
State 201617 201718Andhra Pradesh 372 374
Telangana 360 357
Assam 005 002
Bihar 123 079
Chandigarh 001 001
Chhattisgarh 402 321
Gujarat 000 000
Haryana 358 399
Himachal Pradesh 000 000
Jharkhand 014 014
Jammu and Kashmir 000 001
Karnataka 000 000
Kerala 031 033
Madhya Pradesh 131 110
Maharashtra 031 017
Odisha 363 301
Punjab 1110 1183
Rajasthan 000 000
Tamil Nadu 014 078
Uttar Pradesh 235 288
Uttrakhand 071 004
West Bengal 192 005
Total 3811 3566
State Rice Procurement (MMTS) Source Food Corporation of India
Indian and Pakistani Basmati exports to the EU (MTS) - 050618Source European Commissionrsquos DG of Agriculture and
Rural Development Country India Pakistan Total
201415 (Sep - Aug) 187455 128430 315885
201516 (Sep - Aug) 228912 118264 347176
201617 (Sep - Aug) 212960 89787 302747
201718 (Sep - Aug) 199341 153173 352515
Year-on-year change 201617 - 201718 -640 +706 +164
Procurement up until 080618
Region Number of Reservoirs
Total Storage Capacity (billion cubic metres)
Water Level as of 070618 (billion
cubic metres)
Change year-on-year
Northern 6 1801 257 -451
Eastern 15 1883 401 -113
Western 27 3126 439 -261
Central 12 4230 942 -281
Southern 31 5159 634 +756
Total 91 16199 277 -17
Report Date 08062018
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P a g e 1 0
EuropeOur assessments of Italian Indica 5 broken white rice and Arborio 5 broken white rice are both unchanged at EUR euro510 PMT ex-works and EUR euro650 PMT ex-works respectively with minimal market activity reported However market participants expect demand for Indica paddy from Italian mills to improve in the coming days which could lead to an increase in Indica paddy and milled prices next week Planting of the 2018 crop is concluding and although harvesting is due to begin in September one mill believed that new crop paddy may not be available until October
EU Rice Prices - 050618Source European Commissionrsquos DG of Agriculture
and Rural Development (Prices EUR euro PMT Ex-Market)
Country Paddy Price Previous Week
Italy
Balilla euro33100 euro33600
Ribe euro38400 euro38400
Thaibonnet euro30700 euro28800
SpainJaponica euro32709 euro32709
Indica euro31426 euro31426
PortugalJaponica NQ NQ
Indica NQ NQ
Greece
Moyen NQ NQ
Japonica euro30600 euro28700
Indica euro28100 euro29000
RomaniaJaponica NQ euro40304
Indica euro30947 NQ
Bulgaria Japonica euro26843 euro26843
Country 5 Broken Price Previous Week
Italy
Rond euro65000 euro65000
Ribe euro71000 euro71000
Thaibonnet euro58000 euro58000
SpainJaponica euro55354 euro55354
Indica euro50344 euro50344
RomaniaJaponica euro85534 euro87290
Indica euro64473 euro67030
Bulgaria Japonica euro71582 euro71582
FranceJaponica euro68000 euro68000
Indica euro62000 euro60000
Country 100 Broken Price Previous Week
Italy Mezzagrana NQ NQ
Bulgaria Japonica NQ NQ
France Camargue NQ NQ
Cumulative Imports 010917 - 050618Source European Commissionrsquos DG
of Agriculture
Country Volume (MTS)Belgium 61304
Bulgaria 10098
Czech Republic 31399
Denmark 8438
Germany 81275
Estonia 553
Ireland 2327
Greece 7400
Spain 50567
France 144744
Croatia 2831
Italy 69379
Cyprus 2560
Latvia 2004
Lithuania 8965
Luxembourg 0
Hungary 11788
Malta 36
Netherlands 107989
Austria 4586
Poland 74015
Portugal 54070
Romania 2524
Slovenia 5
Slovakia 132
Finland 1426
Sweden 22663
UK 198524
Total 961602
CURRENCY EUR 4 Week Range
1 USD $ 085 083 ndash 087
Paddy Prices - 050618Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMaximumrsquo Price
PreviouslsquoMaximumrsquo
PriceBalilla Centauro and similar euro33100 euro33600
Sole CL euro27900 euro28400
Selenio and similar euro30700 euro30700
Ribe euro38400 euro38400
Loto and similar euro38400 euro38400
Augusto euro38400 euro38400
S Andrea and similar euro33600 euro33600
Roma and similar euro33600 euro33600
Baldo and similar euro43300 euro43300
Arborio and Volano euro33500 euro33500
Carnaroli and similar euro33300 euro33300
Thaibonnet and similar euro30700 euro30700
Milled Prices - 290518Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMinimumrsquo Price
PreviouslsquoMinimumrsquo
PriceOriginario euro57000 euro57000
Selenio euro55000 euro55000S Andrea euro60000 euro60000
Roma euro60000 euro60000
Baldo euro81000 euro81000
Ribe euro66000 euro66000
Augusto euro67000 euro67000
Arborio euro62000 euro62000
Carnaroli euro64000 euro64000
Thaibonnet euro54000 euro51000
ParboiledRibe euro76000 euro76000
Baldo euro91000 euro91000
Thaibonnet euro64000 euro61000
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice (ex-works) 0 euro510Arborio 5 broken white rice (ex-works) 0 euro650
LRI Assessment
EU rice imports during the first eight months of the 201718 marketing year (September ndash August) totalled 840451 MTS (milled equivalent excluding broken rice) up by 198 year-on-year according to the EU Commission Milledsemi-milled rice imports totalled 491215 MTS (+102) broken rice imports totalled 299513 MTS (+273) husked Basmati imports totalled 226255 MTS (+31) husked non-Basmati imports totalled 113215 MTS (-166) and paddy imports totalled 9767 MTS (-668) Imports under the Everything But Arms (EBA) agreement totalled 233574 MTS (milled equivalent excluding broken rice -196) during the same period Rice imported in packages weighing less than 5kg totalled 48773 MTS (+74) and rice imported in 5 ndash 20kg packages totalled 162821 MTS (+851)
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
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AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
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Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
Export StatisticsFor the period 25 - 31 May 2018 net sales of 146200 MTS were recorded for
Exports for the same period reached 208400 MTS The primary destinations were
Report Date 08062018
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P a g e 0 7
USA The US Kansas City Commodity Office (KCCO) cancelled its 6 June domestic tender for 17000 MTS of US 2 7 broken long grain rice The KCCO will retender for this volume on 12 June the volume is destined for Burkina Faso Please click here for more details A Col-Rice auction was held yesterday (7 June) for 14995 MTS worth of import licences results are pending Some market participants believe that the results of this auction and the KCCOrsquos 12 June tender will signify the start of a bearish milled long grain market Aside from trade to regular buyers milled long grain demand has been minimal for months and the volatility in paddy futures pricing since the end of May has yet to affect milled rice prices US 2 4 broken white rice closed the week assessed down to US $535 PMT FOB bulk NOLA and unchanged at US $650 PMT FOB Lake Charles Due to the recent slowdown in milling US Southern Pet Food Quality broken rice is assessed up to US $325 PMT ex-works with many mills reluctant to make fresh offers for delivery before the harvest Although the USDA recorded net sales of 146200 MTS for 25 ndash 31 May (a marketing year high) 93500 MTS of this volume were late-recorded sales which were not concluded in this period The price of paddy was under pressure early in the week after the CBOT Rough Rice Futuresrsquo nearby July contract fell by US $050 per cwt (US $1102 PMT) between 4 ndash 5 June However this contract then gained US $061 per cwt (US $1345 PMT) on 6 June before falling by US $034 per cwt (US $750 PMT) on 7 June US 2 Paddy 5570 Yield is assessed unchanged
at US $310 PMT FOB bulk NOLA Paddy trade to Honduras for September shipment was reported and new crop paddy offers for October shipment were reported at US $335 PMT CIF Central American ports The KCCO awarded 1800 MTS of US 5 20 broken fortified long grain rice in its 5 June tender Supreme Rice was awarded the full volume with 1000 MTS awarded at a price of US $50772 PMT delivered intermodal bridge Houston and 800 MTS awarded at US $51353 PMT delivered intermodal bridge Houston The rice is destined for Cambodia please click here for more details In its last tender for US 5 20 broken fortified long grain rice on 2 May the KCCO awarded Beaumont Rice Mills 1600 MTS at US $49493 PMT delivered intermodal bridge Houston The KCCO will also retender for 2500 MTS of US 5 20 broken fortified long grain rice which were not awarded in its 5 June tender The retender will be held on 19 June and the volume is still destined for the Ivory Coast For more information on this retender click here Planting has now concluded in California with most market participants estimating total planted area at 505000 ndash 515000 acres (204366 ndash 208413ha) Calrose trade liquidity remained minimal and US 1 4 broken white rice closed the week assessed unchanged at US $990 PMT FAS FCL Oakland South Korearsquos Agro-Fisheries and Food Trade Corporation is considering a new medium grain tender market participants are unsure when it will be announced but delivery will be required after the new crop harvest
USA - CALIFORNIAN MEDIUM GRAIN RICE CHANGE PRICE
US 1 4 Broken (FAS FCL) 0 $990US 1 Paddy 5869 Yield (Ex-Works) 0 $542
USA - GULF LONG GRAIN RICE CHANGE PRICE
US 2 4 Broken Hard Milled (FOB Lake Charles) 0 $650US 2 4 Broken Hard Milled (FOB bulk NOLA) -5 $535US 3 15 Broken Hard Milled (FOB bulk NOLA) -5 $525US 5 20 Broken Hard Milled (FOB Lake Charles) -5 $535US 1 Parboiled Milled 4 Broken (FOB bulk NOLA) 0 $550US 2 Paddy 5570 Yield (FOB bulk NOLA) 0 $310Southern Flour Quality Broken Rice (ex-works) 0 $353Southern Pet Food Quality Broken Rice (ex-works) +16 $325
B
All figures rounded to two decimal places
Country Volume (MTS)
Mexico 134600
Haiti 30500
Colombia 28800
Guatemala 8000
Canada 1900
MonthThursdayrsquos Close Price
cwt
Net Change from Wednesday
cwt
Net Change from previous
Thursdaycwt
Thursdayrsquos Close Price
PMT
Net Change from Wednesday
PMT
Net Change from previous
Thursday PMT
July 2018 $1122 -$034 -$035 $24725 -$750 -$761September 2018 $1085 -$032 -$049 $23920 -$705 -$1080
November 2018 $1105 -$032 -$049 $24361 -$694 -$1080
January 2019 $1125 -$038 -$046 $24791 -$838 -$1014March 2019 $1125 -$038 -$046 $24791 -$838 -$1014
May 2019 $1125 -$038 -$046 $24791 -$838 -$1014July 2019 $1125 -$038 -$046 $24791 -$838 -$1014
CBOT Rough Rice Futures
Country Volume (MTS)Mexico 123900
Haiti 15000
Honduras 5000
Canada 1600
Colombia 600
State Very Poor Poor Fair Good ExcellentArkansas 1 3 26 56 14California - - 10 85 5Louisiana - 4 26 63 7
Mississippi - - 16 56 28Missouri - 5 27 51 17
Texas - 5 30 55 106 States - 3 23 62 12
State 3 June 2017
27 May 2018
3 June 2018
2013-17 Average
Arkansas 99 95 99 94California 47 42 77 72Louisiana 100 99 100 98
Mississippi 97 84 92 89Missouri 90 83 96 92
Texas 98 89 95 956 States 90 85 95 91
USDA Rice Condition () USDA Rice Emerged ()
Report Date 08062018
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P a g e 0 8
The Brazilian truckersrsquo strike ended at the start of the week although exporters remained cautious about concluding fresh trade in case of continued logistical issues According to market participants trucking costs increased by around 40 following the end of the strike and freight costs increased by US $50 per FCL Although the Real depreciated by 349 from 1 ndash 7 June the average price of paddy in Rio Grande do Sul increased by 22 during the same period to BRL 3810 per 50kg (US $19525 PMT) Brazilian 5 broken white rice and Parboiled 5 STX both closed the week assessed up to US $475 PMT FOB FCL Brazilian broken rice closed the week assessed down to US $320 PMT FOB due to slow demand Results of Costa Ricarsquos 30 May tender for at least 19363 MTS of paddy are yet to be confirmed although speculation that TRC was awarded the full volume and that it would source the award from Brazil persisted Two vessels were loading rice in Rio Grande Port as of 7 June Casillo was loading 30000 MTS of paddy and Rivelin was loading 6000 MTS of rice pellets Casillo was also waiting to load a further 30000 MTS of paddy and Densa Sea Lion was waiting to be loaded with 28500 MTS of paddy
Demand from regular buyers supported Uruguayan rice prices with 5 broken white rice assessed unchanged at US $500 PMT FOB FCL Oliacutemar 5 broken white rice is also assessed unchanged at US $510 PMT FOB FCL based on reported trade to Mexico Parboiled 5 STX closed the week assessed up to US $515 PMT FOB FCL based on
South AmericaCURRENCY BRL 4 Week Range
1 USD $ 390 355 ndash 395
CURRENCY ARS 4 Week Range
1 USD $ 2498 2235 ndash 2505
CURRENCY UYU 4 Week Range
1 USD $ 3121 2902 ndash 3143
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Argentine 5 Broken (FOB FCL) -6 $490Brazilian 5 Broken (FOB FCL) 0 $460Brazilian Broken Rice (12 Grain) (FOB Bulk) -3 $325Paraguayan 5 Broken (FOB FCL) 0 $375
S AMERICA - LONG GRAIN PARBOILED (FOB FCL)
CHANGE PRICE
Brazilian Parboiled Milled 5 Broken STX +20 $475Uruguayan Parboiled Milled 5 Broken STX +3 $515 CURRENCY PYG 4 Week Range
1 USD $ 5698 5563 - 5765
Country Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TotalBrazil 2017 79290 51106 46243 37926 77181 42893 112569 60659 109450 91988 95339 65624 870268
Brazil 2018 161324 163549 193565 95845 614283
Argentina 2017 41002 29169 26097 41507 82529 19285 37269 23233 28651 43788 18362 17060 407955
Argentina 2018 11999 24543 36543
Uruguay 2017 103606 122816 27526 67382 72917 122895 87482 89557 75406 85824 74996 52695 983103
Uruguay 2018 83019 107185 25598 97464 53460 366726
Sources IRGA Ministerio de Agroindustria de Argentina Uruguay XXI
Brazilian Paddy Prices - 080617 - 070618 Source ESALQ
South American Export Statistics (MTS)
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Uruguayan Oliacutemar 5 Broken (FOB FCL) 0 $510Argentine 5 Broken (FOB FCL) -5 $485
Brazilian 5 Broken (FOB FCL) +20 $475Brazilian Broken Rice (12 Grain Brokens) (FOB Bulk) -5 $320Paraguayan 5 Broken (FOB FCL) +5 $400
reported trade to Peru Guatemala and Costa Rica Uruguayan rice exports in May 2018 totalled 53460 MTS according to Uruguay XXI This represents a 46 month-on-month decrease and a 267 year-on-year decrease Paddy comprised 280 MTS of this volume brown rice comprised 8359 MTS milled rice comprised 44014 MTS and broken rice comprised the remaining 807 MTS Exports during 2018 so far totalled 366726 MTS (-698) as of 31 May Iraq imported the largest volume of Uruguayan rice during this period (milled 93000 MTS) followed by Peru (milled 74772 MTS) Venezuela (paddy and milled 46756 MTS) and Mexico (milled 30870 MTS)
A 30000 MT paddy sale to Venezuela white rice demand from Central American destinations and brown rice enquiries from Europe were reported in the Argentine market this week A 12000 MT sale of Argentine 100 broken rice to Africa for July shipment was also reported However Brazilian enquiries were minimal and some exporters were willing to lower their offers to conclude business Argentine 5 broken white rice closed the week assessed down to US $485 PMT FOB FCL
The depreciation of the Brazilian Real against the US Dollar curtailed Brazilian purchases of Paraguayan rice this week although the processing of last monthrsquos sale to Iraq continued to occupy Paraguayan mills Paraguayan 5 broken white rice is assessed up to US $400 PMT FOB FCL as lower offers were no longer available
IndiaIndian non-Basmati demand remained subdued as buyers waited for prices to soften Although an 036 appreciation of the Rupee against the US Dollar between 1 ndash 6 June initially supported prices the increase of Bangladeshrsquos import tariff from 2 to 28 on Thursday (7 June see page 12) put renewed pressure on prices Indian 5 broken white rice closed the week assessed down to US $408 PMT FOB based on reported trade to Ghana and 25 broken white rice closed the week assessed down to US $375 PMT FOB as lower offers were available Rice stocks in Senegal remained high and subsequently sales of broken rice were slow 100 broken white rice closed the week assessed down to US $305 PMT FOB Buyers in Benin continued to make parboiled rice enquiries although concluded trade was minimal Parboiled 5 STX closed the week assessed up to US $395 PMT FOB as lower offers were no longer available following the currency movements
Two vessels were being loaded with a total of 43000 MTS of rice in Kakinada Port on 4 June a 162 increase in volume from 31 May Olam was loading 37000
CURRENCY INR 4 Week Range
1 USD $ 6761 6682 ndash 6848
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
B
MTS of Parboiled 5 broken for Guinea and Robiul Islam was loading 6000 MTS of Parboiled 5 broken for Bangladesh Milled rice stocks in the Food Corporation of Indiarsquos (FCI) central pool totalled 2536 million MTS as of 1 May 2018 This represents a 197 increase from 1 April 2018 and a 111 increase year-on-year Paddy stocks in the FCIrsquos central pool totalled 654 million MTS in May down by 152 from April and down by 299 year-on-year
Middle Eastern and domestic demand for milled and parboiled Basmati increased ahead of the end of Ramadan (14 June) The appreciation of the Rupee also supported Basmati prices with 1121 Parboiled Basmati 2 broken assessed up to US $1040 PMT FOB FCL European enquiries supported the price of Pusa Brown Basmati 2 broken which is assessed up to US $900 PMT FOB FCL
Water levels in Indiarsquos 91 major reservoirs totalled 267 billion cubic metres as of 7 June according to the Ministry of Water Resources River Development and Ganga Rejuvenation This represents 17 of the reservoirsrsquo total capacity and is a 361 decline from 31 May and down by 17 year-on-year Please see the table below for more details
Report Date 08062018
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P a g e 0 9
State 201617 201718Andhra Pradesh 372 374
Telangana 360 357
Assam 005 002
Bihar 123 079
Chandigarh 001 001
Chhattisgarh 402 321
Gujarat 000 000
Haryana 358 399
Himachal Pradesh 000 000
Jharkhand 014 014
Jammu and Kashmir 000 001
Karnataka 000 000
Kerala 031 033
Madhya Pradesh 131 110
Maharashtra 031 017
Odisha 363 301
Punjab 1110 1183
Rajasthan 000 000
Tamil Nadu 014 078
Uttar Pradesh 235 288
Uttrakhand 071 004
West Bengal 192 005
Total 3811 3566
State Rice Procurement (MMTS) Source Food Corporation of India
Indian and Pakistani Basmati exports to the EU (MTS) - 050618Source European Commissionrsquos DG of Agriculture and
Rural Development Country India Pakistan Total
201415 (Sep - Aug) 187455 128430 315885
201516 (Sep - Aug) 228912 118264 347176
201617 (Sep - Aug) 212960 89787 302747
201718 (Sep - Aug) 199341 153173 352515
Year-on-year change 201617 - 201718 -640 +706 +164
Procurement up until 080618
Region Number of Reservoirs
Total Storage Capacity (billion cubic metres)
Water Level as of 070618 (billion
cubic metres)
Change year-on-year
Northern 6 1801 257 -451
Eastern 15 1883 401 -113
Western 27 3126 439 -261
Central 12 4230 942 -281
Southern 31 5159 634 +756
Total 91 16199 277 -17
Report Date 08062018
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P a g e 1 0
EuropeOur assessments of Italian Indica 5 broken white rice and Arborio 5 broken white rice are both unchanged at EUR euro510 PMT ex-works and EUR euro650 PMT ex-works respectively with minimal market activity reported However market participants expect demand for Indica paddy from Italian mills to improve in the coming days which could lead to an increase in Indica paddy and milled prices next week Planting of the 2018 crop is concluding and although harvesting is due to begin in September one mill believed that new crop paddy may not be available until October
EU Rice Prices - 050618Source European Commissionrsquos DG of Agriculture
and Rural Development (Prices EUR euro PMT Ex-Market)
Country Paddy Price Previous Week
Italy
Balilla euro33100 euro33600
Ribe euro38400 euro38400
Thaibonnet euro30700 euro28800
SpainJaponica euro32709 euro32709
Indica euro31426 euro31426
PortugalJaponica NQ NQ
Indica NQ NQ
Greece
Moyen NQ NQ
Japonica euro30600 euro28700
Indica euro28100 euro29000
RomaniaJaponica NQ euro40304
Indica euro30947 NQ
Bulgaria Japonica euro26843 euro26843
Country 5 Broken Price Previous Week
Italy
Rond euro65000 euro65000
Ribe euro71000 euro71000
Thaibonnet euro58000 euro58000
SpainJaponica euro55354 euro55354
Indica euro50344 euro50344
RomaniaJaponica euro85534 euro87290
Indica euro64473 euro67030
Bulgaria Japonica euro71582 euro71582
FranceJaponica euro68000 euro68000
Indica euro62000 euro60000
Country 100 Broken Price Previous Week
Italy Mezzagrana NQ NQ
Bulgaria Japonica NQ NQ
France Camargue NQ NQ
Cumulative Imports 010917 - 050618Source European Commissionrsquos DG
of Agriculture
Country Volume (MTS)Belgium 61304
Bulgaria 10098
Czech Republic 31399
Denmark 8438
Germany 81275
Estonia 553
Ireland 2327
Greece 7400
Spain 50567
France 144744
Croatia 2831
Italy 69379
Cyprus 2560
Latvia 2004
Lithuania 8965
Luxembourg 0
Hungary 11788
Malta 36
Netherlands 107989
Austria 4586
Poland 74015
Portugal 54070
Romania 2524
Slovenia 5
Slovakia 132
Finland 1426
Sweden 22663
UK 198524
Total 961602
CURRENCY EUR 4 Week Range
1 USD $ 085 083 ndash 087
Paddy Prices - 050618Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMaximumrsquo Price
PreviouslsquoMaximumrsquo
PriceBalilla Centauro and similar euro33100 euro33600
Sole CL euro27900 euro28400
Selenio and similar euro30700 euro30700
Ribe euro38400 euro38400
Loto and similar euro38400 euro38400
Augusto euro38400 euro38400
S Andrea and similar euro33600 euro33600
Roma and similar euro33600 euro33600
Baldo and similar euro43300 euro43300
Arborio and Volano euro33500 euro33500
Carnaroli and similar euro33300 euro33300
Thaibonnet and similar euro30700 euro30700
Milled Prices - 290518Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMinimumrsquo Price
PreviouslsquoMinimumrsquo
PriceOriginario euro57000 euro57000
Selenio euro55000 euro55000S Andrea euro60000 euro60000
Roma euro60000 euro60000
Baldo euro81000 euro81000
Ribe euro66000 euro66000
Augusto euro67000 euro67000
Arborio euro62000 euro62000
Carnaroli euro64000 euro64000
Thaibonnet euro54000 euro51000
ParboiledRibe euro76000 euro76000
Baldo euro91000 euro91000
Thaibonnet euro64000 euro61000
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice (ex-works) 0 euro510Arborio 5 broken white rice (ex-works) 0 euro650
LRI Assessment
EU rice imports during the first eight months of the 201718 marketing year (September ndash August) totalled 840451 MTS (milled equivalent excluding broken rice) up by 198 year-on-year according to the EU Commission Milledsemi-milled rice imports totalled 491215 MTS (+102) broken rice imports totalled 299513 MTS (+273) husked Basmati imports totalled 226255 MTS (+31) husked non-Basmati imports totalled 113215 MTS (-166) and paddy imports totalled 9767 MTS (-668) Imports under the Everything But Arms (EBA) agreement totalled 233574 MTS (milled equivalent excluding broken rice -196) during the same period Rice imported in packages weighing less than 5kg totalled 48773 MTS (+74) and rice imported in 5 ndash 20kg packages totalled 162821 MTS (+851)
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
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CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
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Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 8
The Brazilian truckersrsquo strike ended at the start of the week although exporters remained cautious about concluding fresh trade in case of continued logistical issues According to market participants trucking costs increased by around 40 following the end of the strike and freight costs increased by US $50 per FCL Although the Real depreciated by 349 from 1 ndash 7 June the average price of paddy in Rio Grande do Sul increased by 22 during the same period to BRL 3810 per 50kg (US $19525 PMT) Brazilian 5 broken white rice and Parboiled 5 STX both closed the week assessed up to US $475 PMT FOB FCL Brazilian broken rice closed the week assessed down to US $320 PMT FOB due to slow demand Results of Costa Ricarsquos 30 May tender for at least 19363 MTS of paddy are yet to be confirmed although speculation that TRC was awarded the full volume and that it would source the award from Brazil persisted Two vessels were loading rice in Rio Grande Port as of 7 June Casillo was loading 30000 MTS of paddy and Rivelin was loading 6000 MTS of rice pellets Casillo was also waiting to load a further 30000 MTS of paddy and Densa Sea Lion was waiting to be loaded with 28500 MTS of paddy
Demand from regular buyers supported Uruguayan rice prices with 5 broken white rice assessed unchanged at US $500 PMT FOB FCL Oliacutemar 5 broken white rice is also assessed unchanged at US $510 PMT FOB FCL based on reported trade to Mexico Parboiled 5 STX closed the week assessed up to US $515 PMT FOB FCL based on
South AmericaCURRENCY BRL 4 Week Range
1 USD $ 390 355 ndash 395
CURRENCY ARS 4 Week Range
1 USD $ 2498 2235 ndash 2505
CURRENCY UYU 4 Week Range
1 USD $ 3121 2902 ndash 3143
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Argentine 5 Broken (FOB FCL) -6 $490Brazilian 5 Broken (FOB FCL) 0 $460Brazilian Broken Rice (12 Grain) (FOB Bulk) -3 $325Paraguayan 5 Broken (FOB FCL) 0 $375
S AMERICA - LONG GRAIN PARBOILED (FOB FCL)
CHANGE PRICE
Brazilian Parboiled Milled 5 Broken STX +20 $475Uruguayan Parboiled Milled 5 Broken STX +3 $515 CURRENCY PYG 4 Week Range
1 USD $ 5698 5563 - 5765
Country Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TotalBrazil 2017 79290 51106 46243 37926 77181 42893 112569 60659 109450 91988 95339 65624 870268
Brazil 2018 161324 163549 193565 95845 614283
Argentina 2017 41002 29169 26097 41507 82529 19285 37269 23233 28651 43788 18362 17060 407955
Argentina 2018 11999 24543 36543
Uruguay 2017 103606 122816 27526 67382 72917 122895 87482 89557 75406 85824 74996 52695 983103
Uruguay 2018 83019 107185 25598 97464 53460 366726
Sources IRGA Ministerio de Agroindustria de Argentina Uruguay XXI
Brazilian Paddy Prices - 080617 - 070618 Source ESALQ
South American Export Statistics (MTS)
S AMERICA - LONG GRAIN WHITE RICE CHANGE PRICE
Uruguayan 5 Broken (FOB FCL) 0 $500Uruguayan Oliacutemar 5 Broken (FOB FCL) 0 $510Argentine 5 Broken (FOB FCL) -5 $485
Brazilian 5 Broken (FOB FCL) +20 $475Brazilian Broken Rice (12 Grain Brokens) (FOB Bulk) -5 $320Paraguayan 5 Broken (FOB FCL) +5 $400
reported trade to Peru Guatemala and Costa Rica Uruguayan rice exports in May 2018 totalled 53460 MTS according to Uruguay XXI This represents a 46 month-on-month decrease and a 267 year-on-year decrease Paddy comprised 280 MTS of this volume brown rice comprised 8359 MTS milled rice comprised 44014 MTS and broken rice comprised the remaining 807 MTS Exports during 2018 so far totalled 366726 MTS (-698) as of 31 May Iraq imported the largest volume of Uruguayan rice during this period (milled 93000 MTS) followed by Peru (milled 74772 MTS) Venezuela (paddy and milled 46756 MTS) and Mexico (milled 30870 MTS)
A 30000 MT paddy sale to Venezuela white rice demand from Central American destinations and brown rice enquiries from Europe were reported in the Argentine market this week A 12000 MT sale of Argentine 100 broken rice to Africa for July shipment was also reported However Brazilian enquiries were minimal and some exporters were willing to lower their offers to conclude business Argentine 5 broken white rice closed the week assessed down to US $485 PMT FOB FCL
The depreciation of the Brazilian Real against the US Dollar curtailed Brazilian purchases of Paraguayan rice this week although the processing of last monthrsquos sale to Iraq continued to occupy Paraguayan mills Paraguayan 5 broken white rice is assessed up to US $400 PMT FOB FCL as lower offers were no longer available
IndiaIndian non-Basmati demand remained subdued as buyers waited for prices to soften Although an 036 appreciation of the Rupee against the US Dollar between 1 ndash 6 June initially supported prices the increase of Bangladeshrsquos import tariff from 2 to 28 on Thursday (7 June see page 12) put renewed pressure on prices Indian 5 broken white rice closed the week assessed down to US $408 PMT FOB based on reported trade to Ghana and 25 broken white rice closed the week assessed down to US $375 PMT FOB as lower offers were available Rice stocks in Senegal remained high and subsequently sales of broken rice were slow 100 broken white rice closed the week assessed down to US $305 PMT FOB Buyers in Benin continued to make parboiled rice enquiries although concluded trade was minimal Parboiled 5 STX closed the week assessed up to US $395 PMT FOB as lower offers were no longer available following the currency movements
Two vessels were being loaded with a total of 43000 MTS of rice in Kakinada Port on 4 June a 162 increase in volume from 31 May Olam was loading 37000
CURRENCY INR 4 Week Range
1 USD $ 6761 6682 ndash 6848
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
B
MTS of Parboiled 5 broken for Guinea and Robiul Islam was loading 6000 MTS of Parboiled 5 broken for Bangladesh Milled rice stocks in the Food Corporation of Indiarsquos (FCI) central pool totalled 2536 million MTS as of 1 May 2018 This represents a 197 increase from 1 April 2018 and a 111 increase year-on-year Paddy stocks in the FCIrsquos central pool totalled 654 million MTS in May down by 152 from April and down by 299 year-on-year
Middle Eastern and domestic demand for milled and parboiled Basmati increased ahead of the end of Ramadan (14 June) The appreciation of the Rupee also supported Basmati prices with 1121 Parboiled Basmati 2 broken assessed up to US $1040 PMT FOB FCL European enquiries supported the price of Pusa Brown Basmati 2 broken which is assessed up to US $900 PMT FOB FCL
Water levels in Indiarsquos 91 major reservoirs totalled 267 billion cubic metres as of 7 June according to the Ministry of Water Resources River Development and Ganga Rejuvenation This represents 17 of the reservoirsrsquo total capacity and is a 361 decline from 31 May and down by 17 year-on-year Please see the table below for more details
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 9
State 201617 201718Andhra Pradesh 372 374
Telangana 360 357
Assam 005 002
Bihar 123 079
Chandigarh 001 001
Chhattisgarh 402 321
Gujarat 000 000
Haryana 358 399
Himachal Pradesh 000 000
Jharkhand 014 014
Jammu and Kashmir 000 001
Karnataka 000 000
Kerala 031 033
Madhya Pradesh 131 110
Maharashtra 031 017
Odisha 363 301
Punjab 1110 1183
Rajasthan 000 000
Tamil Nadu 014 078
Uttar Pradesh 235 288
Uttrakhand 071 004
West Bengal 192 005
Total 3811 3566
State Rice Procurement (MMTS) Source Food Corporation of India
Indian and Pakistani Basmati exports to the EU (MTS) - 050618Source European Commissionrsquos DG of Agriculture and
Rural Development Country India Pakistan Total
201415 (Sep - Aug) 187455 128430 315885
201516 (Sep - Aug) 228912 118264 347176
201617 (Sep - Aug) 212960 89787 302747
201718 (Sep - Aug) 199341 153173 352515
Year-on-year change 201617 - 201718 -640 +706 +164
Procurement up until 080618
Region Number of Reservoirs
Total Storage Capacity (billion cubic metres)
Water Level as of 070618 (billion
cubic metres)
Change year-on-year
Northern 6 1801 257 -451
Eastern 15 1883 401 -113
Western 27 3126 439 -261
Central 12 4230 942 -281
Southern 31 5159 634 +756
Total 91 16199 277 -17
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 1 0
EuropeOur assessments of Italian Indica 5 broken white rice and Arborio 5 broken white rice are both unchanged at EUR euro510 PMT ex-works and EUR euro650 PMT ex-works respectively with minimal market activity reported However market participants expect demand for Indica paddy from Italian mills to improve in the coming days which could lead to an increase in Indica paddy and milled prices next week Planting of the 2018 crop is concluding and although harvesting is due to begin in September one mill believed that new crop paddy may not be available until October
EU Rice Prices - 050618Source European Commissionrsquos DG of Agriculture
and Rural Development (Prices EUR euro PMT Ex-Market)
Country Paddy Price Previous Week
Italy
Balilla euro33100 euro33600
Ribe euro38400 euro38400
Thaibonnet euro30700 euro28800
SpainJaponica euro32709 euro32709
Indica euro31426 euro31426
PortugalJaponica NQ NQ
Indica NQ NQ
Greece
Moyen NQ NQ
Japonica euro30600 euro28700
Indica euro28100 euro29000
RomaniaJaponica NQ euro40304
Indica euro30947 NQ
Bulgaria Japonica euro26843 euro26843
Country 5 Broken Price Previous Week
Italy
Rond euro65000 euro65000
Ribe euro71000 euro71000
Thaibonnet euro58000 euro58000
SpainJaponica euro55354 euro55354
Indica euro50344 euro50344
RomaniaJaponica euro85534 euro87290
Indica euro64473 euro67030
Bulgaria Japonica euro71582 euro71582
FranceJaponica euro68000 euro68000
Indica euro62000 euro60000
Country 100 Broken Price Previous Week
Italy Mezzagrana NQ NQ
Bulgaria Japonica NQ NQ
France Camargue NQ NQ
Cumulative Imports 010917 - 050618Source European Commissionrsquos DG
of Agriculture
Country Volume (MTS)Belgium 61304
Bulgaria 10098
Czech Republic 31399
Denmark 8438
Germany 81275
Estonia 553
Ireland 2327
Greece 7400
Spain 50567
France 144744
Croatia 2831
Italy 69379
Cyprus 2560
Latvia 2004
Lithuania 8965
Luxembourg 0
Hungary 11788
Malta 36
Netherlands 107989
Austria 4586
Poland 74015
Portugal 54070
Romania 2524
Slovenia 5
Slovakia 132
Finland 1426
Sweden 22663
UK 198524
Total 961602
CURRENCY EUR 4 Week Range
1 USD $ 085 083 ndash 087
Paddy Prices - 050618Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMaximumrsquo Price
PreviouslsquoMaximumrsquo
PriceBalilla Centauro and similar euro33100 euro33600
Sole CL euro27900 euro28400
Selenio and similar euro30700 euro30700
Ribe euro38400 euro38400
Loto and similar euro38400 euro38400
Augusto euro38400 euro38400
S Andrea and similar euro33600 euro33600
Roma and similar euro33600 euro33600
Baldo and similar euro43300 euro43300
Arborio and Volano euro33500 euro33500
Carnaroli and similar euro33300 euro33300
Thaibonnet and similar euro30700 euro30700
Milled Prices - 290518Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMinimumrsquo Price
PreviouslsquoMinimumrsquo
PriceOriginario euro57000 euro57000
Selenio euro55000 euro55000S Andrea euro60000 euro60000
Roma euro60000 euro60000
Baldo euro81000 euro81000
Ribe euro66000 euro66000
Augusto euro67000 euro67000
Arborio euro62000 euro62000
Carnaroli euro64000 euro64000
Thaibonnet euro54000 euro51000
ParboiledRibe euro76000 euro76000
Baldo euro91000 euro91000
Thaibonnet euro64000 euro61000
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice (ex-works) 0 euro510Arborio 5 broken white rice (ex-works) 0 euro650
LRI Assessment
EU rice imports during the first eight months of the 201718 marketing year (September ndash August) totalled 840451 MTS (milled equivalent excluding broken rice) up by 198 year-on-year according to the EU Commission Milledsemi-milled rice imports totalled 491215 MTS (+102) broken rice imports totalled 299513 MTS (+273) husked Basmati imports totalled 226255 MTS (+31) husked non-Basmati imports totalled 113215 MTS (-166) and paddy imports totalled 9767 MTS (-668) Imports under the Everything But Arms (EBA) agreement totalled 233574 MTS (milled equivalent excluding broken rice -196) during the same period Rice imported in packages weighing less than 5kg totalled 48773 MTS (+74) and rice imported in 5 ndash 20kg packages totalled 162821 MTS (+851)
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
IndiaIndian non-Basmati demand remained subdued as buyers waited for prices to soften Although an 036 appreciation of the Rupee against the US Dollar between 1 ndash 6 June initially supported prices the increase of Bangladeshrsquos import tariff from 2 to 28 on Thursday (7 June see page 12) put renewed pressure on prices Indian 5 broken white rice closed the week assessed down to US $408 PMT FOB based on reported trade to Ghana and 25 broken white rice closed the week assessed down to US $375 PMT FOB as lower offers were available Rice stocks in Senegal remained high and subsequently sales of broken rice were slow 100 broken white rice closed the week assessed down to US $305 PMT FOB Buyers in Benin continued to make parboiled rice enquiries although concluded trade was minimal Parboiled 5 STX closed the week assessed up to US $395 PMT FOB as lower offers were no longer available following the currency movements
Two vessels were being loaded with a total of 43000 MTS of rice in Kakinada Port on 4 June a 162 increase in volume from 31 May Olam was loading 37000
CURRENCY INR 4 Week Range
1 USD $ 6761 6682 ndash 6848
INDIA - BASMATI RICE (FOB FCL) CHANGE PRICE
Traditional White Basmati Rice 2 +5 $1131 Traditional Brown Basmati Rice 2 -4 $950 Traditional Parboiled Milled Basmati Rice 2 +4 $981 Pusa White Basmati Rice 2 +7 $997 Pusa Brown Basmati Rice 2 +50 $900 Pusa Parboiled Milled Basmati Rice 2 +28 $888 1121 White Basmati Rice 2 +5 $1131 1121 Parboiled Milled Basmati Rice 2 +10 $1040
INDIA - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX +5 $395
INDIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken -2 $40825 Broken -8 $375100 Broken Rice -3 $305Swarna 5 Broken 0 $420Sharbati 2 Broken -1 $799
B
MTS of Parboiled 5 broken for Guinea and Robiul Islam was loading 6000 MTS of Parboiled 5 broken for Bangladesh Milled rice stocks in the Food Corporation of Indiarsquos (FCI) central pool totalled 2536 million MTS as of 1 May 2018 This represents a 197 increase from 1 April 2018 and a 111 increase year-on-year Paddy stocks in the FCIrsquos central pool totalled 654 million MTS in May down by 152 from April and down by 299 year-on-year
Middle Eastern and domestic demand for milled and parboiled Basmati increased ahead of the end of Ramadan (14 June) The appreciation of the Rupee also supported Basmati prices with 1121 Parboiled Basmati 2 broken assessed up to US $1040 PMT FOB FCL European enquiries supported the price of Pusa Brown Basmati 2 broken which is assessed up to US $900 PMT FOB FCL
Water levels in Indiarsquos 91 major reservoirs totalled 267 billion cubic metres as of 7 June according to the Ministry of Water Resources River Development and Ganga Rejuvenation This represents 17 of the reservoirsrsquo total capacity and is a 361 decline from 31 May and down by 17 year-on-year Please see the table below for more details
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 0 9
State 201617 201718Andhra Pradesh 372 374
Telangana 360 357
Assam 005 002
Bihar 123 079
Chandigarh 001 001
Chhattisgarh 402 321
Gujarat 000 000
Haryana 358 399
Himachal Pradesh 000 000
Jharkhand 014 014
Jammu and Kashmir 000 001
Karnataka 000 000
Kerala 031 033
Madhya Pradesh 131 110
Maharashtra 031 017
Odisha 363 301
Punjab 1110 1183
Rajasthan 000 000
Tamil Nadu 014 078
Uttar Pradesh 235 288
Uttrakhand 071 004
West Bengal 192 005
Total 3811 3566
State Rice Procurement (MMTS) Source Food Corporation of India
Indian and Pakistani Basmati exports to the EU (MTS) - 050618Source European Commissionrsquos DG of Agriculture and
Rural Development Country India Pakistan Total
201415 (Sep - Aug) 187455 128430 315885
201516 (Sep - Aug) 228912 118264 347176
201617 (Sep - Aug) 212960 89787 302747
201718 (Sep - Aug) 199341 153173 352515
Year-on-year change 201617 - 201718 -640 +706 +164
Procurement up until 080618
Region Number of Reservoirs
Total Storage Capacity (billion cubic metres)
Water Level as of 070618 (billion
cubic metres)
Change year-on-year
Northern 6 1801 257 -451
Eastern 15 1883 401 -113
Western 27 3126 439 -261
Central 12 4230 942 -281
Southern 31 5159 634 +756
Total 91 16199 277 -17
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 1 0
EuropeOur assessments of Italian Indica 5 broken white rice and Arborio 5 broken white rice are both unchanged at EUR euro510 PMT ex-works and EUR euro650 PMT ex-works respectively with minimal market activity reported However market participants expect demand for Indica paddy from Italian mills to improve in the coming days which could lead to an increase in Indica paddy and milled prices next week Planting of the 2018 crop is concluding and although harvesting is due to begin in September one mill believed that new crop paddy may not be available until October
EU Rice Prices - 050618Source European Commissionrsquos DG of Agriculture
and Rural Development (Prices EUR euro PMT Ex-Market)
Country Paddy Price Previous Week
Italy
Balilla euro33100 euro33600
Ribe euro38400 euro38400
Thaibonnet euro30700 euro28800
SpainJaponica euro32709 euro32709
Indica euro31426 euro31426
PortugalJaponica NQ NQ
Indica NQ NQ
Greece
Moyen NQ NQ
Japonica euro30600 euro28700
Indica euro28100 euro29000
RomaniaJaponica NQ euro40304
Indica euro30947 NQ
Bulgaria Japonica euro26843 euro26843
Country 5 Broken Price Previous Week
Italy
Rond euro65000 euro65000
Ribe euro71000 euro71000
Thaibonnet euro58000 euro58000
SpainJaponica euro55354 euro55354
Indica euro50344 euro50344
RomaniaJaponica euro85534 euro87290
Indica euro64473 euro67030
Bulgaria Japonica euro71582 euro71582
FranceJaponica euro68000 euro68000
Indica euro62000 euro60000
Country 100 Broken Price Previous Week
Italy Mezzagrana NQ NQ
Bulgaria Japonica NQ NQ
France Camargue NQ NQ
Cumulative Imports 010917 - 050618Source European Commissionrsquos DG
of Agriculture
Country Volume (MTS)Belgium 61304
Bulgaria 10098
Czech Republic 31399
Denmark 8438
Germany 81275
Estonia 553
Ireland 2327
Greece 7400
Spain 50567
France 144744
Croatia 2831
Italy 69379
Cyprus 2560
Latvia 2004
Lithuania 8965
Luxembourg 0
Hungary 11788
Malta 36
Netherlands 107989
Austria 4586
Poland 74015
Portugal 54070
Romania 2524
Slovenia 5
Slovakia 132
Finland 1426
Sweden 22663
UK 198524
Total 961602
CURRENCY EUR 4 Week Range
1 USD $ 085 083 ndash 087
Paddy Prices - 050618Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMaximumrsquo Price
PreviouslsquoMaximumrsquo
PriceBalilla Centauro and similar euro33100 euro33600
Sole CL euro27900 euro28400
Selenio and similar euro30700 euro30700
Ribe euro38400 euro38400
Loto and similar euro38400 euro38400
Augusto euro38400 euro38400
S Andrea and similar euro33600 euro33600
Roma and similar euro33600 euro33600
Baldo and similar euro43300 euro43300
Arborio and Volano euro33500 euro33500
Carnaroli and similar euro33300 euro33300
Thaibonnet and similar euro30700 euro30700
Milled Prices - 290518Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMinimumrsquo Price
PreviouslsquoMinimumrsquo
PriceOriginario euro57000 euro57000
Selenio euro55000 euro55000S Andrea euro60000 euro60000
Roma euro60000 euro60000
Baldo euro81000 euro81000
Ribe euro66000 euro66000
Augusto euro67000 euro67000
Arborio euro62000 euro62000
Carnaroli euro64000 euro64000
Thaibonnet euro54000 euro51000
ParboiledRibe euro76000 euro76000
Baldo euro91000 euro91000
Thaibonnet euro64000 euro61000
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice (ex-works) 0 euro510Arborio 5 broken white rice (ex-works) 0 euro650
LRI Assessment
EU rice imports during the first eight months of the 201718 marketing year (September ndash August) totalled 840451 MTS (milled equivalent excluding broken rice) up by 198 year-on-year according to the EU Commission Milledsemi-milled rice imports totalled 491215 MTS (+102) broken rice imports totalled 299513 MTS (+273) husked Basmati imports totalled 226255 MTS (+31) husked non-Basmati imports totalled 113215 MTS (-166) and paddy imports totalled 9767 MTS (-668) Imports under the Everything But Arms (EBA) agreement totalled 233574 MTS (milled equivalent excluding broken rice -196) during the same period Rice imported in packages weighing less than 5kg totalled 48773 MTS (+74) and rice imported in 5 ndash 20kg packages totalled 162821 MTS (+851)
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
Report Date 08062018
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
P a g e 1 0
EuropeOur assessments of Italian Indica 5 broken white rice and Arborio 5 broken white rice are both unchanged at EUR euro510 PMT ex-works and EUR euro650 PMT ex-works respectively with minimal market activity reported However market participants expect demand for Indica paddy from Italian mills to improve in the coming days which could lead to an increase in Indica paddy and milled prices next week Planting of the 2018 crop is concluding and although harvesting is due to begin in September one mill believed that new crop paddy may not be available until October
EU Rice Prices - 050618Source European Commissionrsquos DG of Agriculture
and Rural Development (Prices EUR euro PMT Ex-Market)
Country Paddy Price Previous Week
Italy
Balilla euro33100 euro33600
Ribe euro38400 euro38400
Thaibonnet euro30700 euro28800
SpainJaponica euro32709 euro32709
Indica euro31426 euro31426
PortugalJaponica NQ NQ
Indica NQ NQ
Greece
Moyen NQ NQ
Japonica euro30600 euro28700
Indica euro28100 euro29000
RomaniaJaponica NQ euro40304
Indica euro30947 NQ
Bulgaria Japonica euro26843 euro26843
Country 5 Broken Price Previous Week
Italy
Rond euro65000 euro65000
Ribe euro71000 euro71000
Thaibonnet euro58000 euro58000
SpainJaponica euro55354 euro55354
Indica euro50344 euro50344
RomaniaJaponica euro85534 euro87290
Indica euro64473 euro67030
Bulgaria Japonica euro71582 euro71582
FranceJaponica euro68000 euro68000
Indica euro62000 euro60000
Country 100 Broken Price Previous Week
Italy Mezzagrana NQ NQ
Bulgaria Japonica NQ NQ
France Camargue NQ NQ
Cumulative Imports 010917 - 050618Source European Commissionrsquos DG
of Agriculture
Country Volume (MTS)Belgium 61304
Bulgaria 10098
Czech Republic 31399
Denmark 8438
Germany 81275
Estonia 553
Ireland 2327
Greece 7400
Spain 50567
France 144744
Croatia 2831
Italy 69379
Cyprus 2560
Latvia 2004
Lithuania 8965
Luxembourg 0
Hungary 11788
Malta 36
Netherlands 107989
Austria 4586
Poland 74015
Portugal 54070
Romania 2524
Slovenia 5
Slovakia 132
Finland 1426
Sweden 22663
UK 198524
Total 961602
CURRENCY EUR 4 Week Range
1 USD $ 085 083 ndash 087
Paddy Prices - 050618Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMaximumrsquo Price
PreviouslsquoMaximumrsquo
PriceBalilla Centauro and similar euro33100 euro33600
Sole CL euro27900 euro28400
Selenio and similar euro30700 euro30700
Ribe euro38400 euro38400
Loto and similar euro38400 euro38400
Augusto euro38400 euro38400
S Andrea and similar euro33600 euro33600
Roma and similar euro33600 euro33600
Baldo and similar euro43300 euro43300
Arborio and Volano euro33500 euro33500
Carnaroli and similar euro33300 euro33300
Thaibonnet and similar euro30700 euro30700
Milled Prices - 290518Ex-Vercelli Italy Source Vercelli Chamber of Commerce
(Prices EUR euro PMT Ex-Market)
Variety lsquoMinimumrsquo Price
PreviouslsquoMinimumrsquo
PriceOriginario euro57000 euro57000
Selenio euro55000 euro55000S Andrea euro60000 euro60000
Roma euro60000 euro60000
Baldo euro81000 euro81000
Ribe euro66000 euro66000
Augusto euro67000 euro67000
Arborio euro62000 euro62000
Carnaroli euro64000 euro64000
Thaibonnet euro54000 euro51000
ParboiledRibe euro76000 euro76000
Baldo euro91000 euro91000
Thaibonnet euro64000 euro61000
ITALY - WHITE RICE CHANGE PRICE
Indica 5 broken white rice (ex-works) 0 euro510Arborio 5 broken white rice (ex-works) 0 euro650
LRI Assessment
EU rice imports during the first eight months of the 201718 marketing year (September ndash August) totalled 840451 MTS (milled equivalent excluding broken rice) up by 198 year-on-year according to the EU Commission Milledsemi-milled rice imports totalled 491215 MTS (+102) broken rice imports totalled 299513 MTS (+273) husked Basmati imports totalled 226255 MTS (+31) husked non-Basmati imports totalled 113215 MTS (-166) and paddy imports totalled 9767 MTS (-668) Imports under the Everything But Arms (EBA) agreement totalled 233574 MTS (milled equivalent excluding broken rice -196) during the same period Rice imported in packages weighing less than 5kg totalled 48773 MTS (+74) and rice imported in 5 ndash 20kg packages totalled 162821 MTS (+851)
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
Federation hopes that this prospective deal will help achieve its aim for Myanmar to export more than 3 million MTS in the current financial year and 4 million MTS by 202021
Report Date 08062018Cambodia
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
CAMBODIA - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken 0 $48010 Broken 0 $47525 Broken -5 $460A1 Super 100 Broken -10 $380
CAMBODIA - LONG GRAIN FRAGRANT RICE CHANGE PRICE
Phka Malis (Wet Season) 5 Broken STX -65 $980Sen Kra Ob (Dry Season) 5 Broken STX -10 $880Fragrant 100 Broken A1 Super 0 $475
Month 2017 2018 Change
January 48820 62623 +2830
February 60731 47809 -2128
March 57127 50683 -1270
April 45716 36239 -2073
May 45243
June 30925
July 27354
August 56274
September 49776
October 70776
November 70122
December 73442
Total 635679 197354
Export Statistics (MTS) Source Mekong Oryza
B
MyanmarMYANMAR - LONG GRAIN WHITE RICE CHANGE PRICE
5 Broken (FOB FCL) 0 $435 25 Broken (FOB Bulk) 0 $341 B1 amp B2 Broken (FOB FCL) 0 $310
MYANMAR - LONG GRAIN PARBOILED RICE CHANGE PRICE
Parboiled Milled Rice 5 STX (FOB FCL) 0 $460
CURRENCY MMK 4 Week Range
1 USD $ 1356 1331 ndash 1357
Loading of both LDCrsquos and MOIrsquos vessels continued in Yangon Port with traders reporting that weather conditions had improved substantially since last weekrsquos storms Both vessels are now expected to leave port between 12 ndash 14 June and a Phoenix vessel is still anticipated to arrive later this month to be loaded with 25 broken white rice Regular cross-border white rice trade with China continued although African demand remained subdued with one trader reporting that many African buyers would require offers of 25 broken white rice to be US $15 - $25 PMT cheaper to be competitive in their local markets Myanmar 25 broken white rice is assessed unchanged at US $341 PMT FOB B1 amp B2 broken white rice and 5 broken white rice are also assessed unchanged at US $310 PMT FOB FCL and US $435 PMT FOB FCL as lower offers were no longer available Many exporters are reportedly unwilling to make fresh offers of 5 broken white rice as much of their remaining stock is already committed to existing orders
The Myanmar government is still negotiating a Memorandum of Understanding with Chinarsquos Yunnan Province to export 1 million MTS of rice in the 201819 financial year according to local reports Under the deal Myanmar is expected to import agricultural equipment and appliances The Myanmar Rice
Despite enquiries from European buyers market participants reported a slowdown in white rice sales as buyers showed a preference for more competitively priced and higher quality rice from origins such as Myanmar Cambodian 25 and 100 broken white rice are both assessed down to US $460 PMT FOB FCL and US $380 PMT FOB FCL respectively as lower offers were available Cambodian 5 broken white rice is assessed unchanged at US $480 PMT FOB FCL
Phka Malis and Sen Kra Ob supplies remain extremely tight with many exporters unable to offer Phka Malis However Phka Malis 5 broken STX and Sen Kra Ob 5 broken STX are both assessed down to US $980 PMT FOB FCL and US $880 PMT FOB FCL respectively as lower offers were available Strong Sen Kra Ob demand from buyers in Malaysia and Europe was reported The Sen Kra Ob main crop harvest is due to arrive on to the market at the end of Augustbeginning of September
Japanese and Cambodian officials are discussing the launch of a bilateral programme to use Cambodian rice husks to generate power according to local reports Rice husks would be processed in a specially constructed silo to generate around 2 megawatts of electricity per hour for approximately 10 years The project will cost an estimated US $6 million with 50 of the cost expected to be funded by the Japanese government P a g e 1 1
via grants It is hoped that the programme will have positive impacts on both the environment and farmersrsquo incomes
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
Costa RicaThe USDA has forecast that Costa Rican 2018 paddy production will increase by 15 year-on-year to 150000 MTS Production in 2017 was affected by Tropical Storm Nate which hit the country in October Rice is principally produced in the Northern Pacific Region (56 of total output) followed by the Southern and Central Pacific regions (16 each) the Northern Region (11) and the Atlantic Region (1)
Due to the reduced production in 2017 2018 imports are forecast to increase to 140000 MTS (milled equivalent +464) Under the Dominican Republic-Central America Free Trade Agreement Costa Ricarsquos 2018 Tariff Rate Quota is 63000 MTS of paddy and 8250 MTS of milled rice In 2017 Costa Rica imported 132111 MTS of paddy (+249) and 45232 MTS of milled rice (-22) US import market share in Costa Rica declined from 58 in 2014 to 42 in 2017 as importers favoured rice from Brazil Argentina and Uruguay which had a combined market share of 56 in 2017 (32 from Argentina and 12 each from Brazil and Uruguay) Importers stated a preference for South American rice due a perceived high chalky content of US rice
The majority of rice sold in Costa Rica is 20 broken white rice (43 of sales) at a fixed price of CRC 604 per kg (US $1066 PMT) followed by 9 broken white rice (18) at a fixed price of CRC 819 per kg (US $1446 PMT) and 1 broken white rice (14) at a fixed price of CRC 845 per kg (US $1491 PMT)
OPECOil production by the Organization of Petroleum Exporting Countries (OPEC) fell by 70000 barrels per day in May to 32 million barrels per day the lowest level since April 2017 according to reports This was mainly the result of reduced production in Venezuela and Nigeria and as OPEC seeks to reduce output by around 12 million barrels per day as part of a deal with non-OPEC producers to eliminate excess supply Venezuelan oil production was recorded at 145 million barrels per day in May down by 50000 barrels per day from April as the domestic oil industry continues to be underfunded due to the ongoing economic crisis Nigerian output was affected by delayed and cancelled crude oil shipments and Libyan production decreased due to power supply issues These production declines offset slight increases in Saudi Arabian and Iraqi outputs
UNrsquos FAO The FAOrsquos All Rice Price Index increased by 04 points (+017) last month to 2298 points according to its June 2018 report The price of higher quality Indica increased by 095 in May and the price of lower quality Indica increased by 137 However the price of Japonica remained stable month-on-month and Aromatic (fragrant and Basmati) prices decreased by 136 Please click here for more details
Bangladesh The Bangladeshi government increased the import duty on rice from 2 to 28 to protect farmers from competitive import prices The government lowered its import duty from 28 to 2 last year in response to crop losses caused by repeated flooding with both the government and private traders importing unusually high volumes of rice as a result Bangladesh is currently harvesting its Boro crop which the government believes will total 197 million MTS (milled equivalent) exceeding its target of 19 million MTS
Egypt Egypt will import paddy white and brown rice to increase stocks and cover consumption requirements It has not been decided whether the imports will be sourced by the General Authority for Supply Commodities (GASC) or by private buyers what volume will be imported or when imports will begin However market participants believe that imports could consist of up to 500000 MTS of milled rice (white and brown) and 500000 MTS of paddy The Egyptian government has attempted to limit domestic rice production due to concerns regarding the nationrsquos water security as construction of the Grand Ethiopian Renaissance Dam continues with 820000 feddans (344400ha) allocated for 2018 planted area However farmers are expected to exceed this allocation by 283920ha for the upcoming crop While GASC imported large volumes of rice in 2017 especially Indian Swarna rice it has not made a significant purchase so far this year No paddy has been imported since 2002
Report Date 08062018Other News
P a g e 1 2
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
P a g e 1 3
E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent
AMIS The Agricultural Market Information System (AMIS) has released its latest forecast for world supply and demand AMIS has forecast 201819 global milled rice production at 5113 million MTS a 133 increase from 201718 Global trade in 201819 is forecast at 473 million MTS (milled equivalent -105) and stocks are expected to increase to 1738 million MTS (milled equivalent +146) See the table below for more details and the graphic for rice growing conditions Please click here for
the full report
VietnamThere were 10 vessels being loaded a total of 183300 MTS of rice in Ho Chi Minh City Port as of 6 June Vinafood 1 was loading three vessels bound for Indonesia (two with 22000 MTS each of white rice and one with 22500 MTS of white rice) one vessel with 29000 MTS of 5 broken white rice for Cuba and four vessels bound for the Philippines (three with a total of 39300 MTS of 25 broken white rice and one with 10000 MTS of 15 broken white rice) Tan Long was loading 8500 MTS of brown rice for South Korea and Pacific Legend was being loaded with 30000 MTS of rice for Iraq Two further Vinafood 1 vessels are due to arrive on 7 June bound for the Philippines Neptune Star will be loaded with 20000 MTS of 15 broken white rice and 3000 MTS of 25 broken white rice and Truong Minh Ocean will be loaded with 10000 MTS of 15 broken white rice
The local price of 5 broken white rice in the Mekong Delta was unchanged at VND 10000 ndash 10100 per kg (US $438 ndash $443 PMT) from 24 - 31 May according to the Vietnam Food Association cited in local reports The prices of 15 and 25 broken white rice were also unchanged at VND 9700 ndash 9800 per kg (US $425 ndash $430 PMT) and VND 9450 ndash 9550 per kg (US $414 - $418 PMT) respectively
As of 31 May SummerAutumn crop planted area in the Mekong Delta was 529 complete at 1 million hectares An estimated 19376ha were harvested representing 112 of planted area WinterSpring crop harvesting has finished in the South Central Coast South East and Mekong Delta provinces but is only 442 complete in the Central Highlands provinces WinterSpring crop harvested area totalled 2 million hectares (985 of planted area) with an estimated average field yield of 681 MTSha
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E m a i l l r i l i v e r i c e i n d e x c o m | W e b s i t e w w w l i v e r i c e i n d e x c o m | T e l + 4 4 ( 0 ) 2 0 3 9 0 4 4 6 5 8 - copy C o p y r i g h t 2 0 1 8
Other News Continued Report Date 08062018
201718 (est)
201819 (frsquocast)
201718- 201819 variance
Production 5046 5113 +133Supply 6737 6826 +132
Utilisation 5041 5093 +103Trade 478 473 -105
Ending Stocks 1713 1738 +146NB all figures million MTS milled equivalent