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20Jun Oryza White Rice Index - Holds Steady as Market Watches Thailand Political Crisis, El Nino Impact.

Oryza White Rice Index - Holds Steady as Market Watches Thailand Political Crisis, El Nino Impact.

Thailand  

Thailand 5% broken rice (new crop) is today shown at about $385 per ton, up about $5 per ton from a week ago, up about $10 per ton from a month ago and down about $110 per ton from a year ago.   The Thai Rice Farmers Association is asking the current military government to consider alternatives to assist rice farmers after the rice pledging scheme ended in February 2014.  In addition to recommending financial assistance in the range of 2,500 baht per rai (about $481 per hectare), they suggested the government focus on reducing production costs such as subsidizing fertilizers and insecticides and developing reliable irrigation systems.  Meanwhile, Finance Ministry sources say that the failed rice pledging scheme has escalated the country’s public debt, which may reach 5.55 trillion baht (about $171 billion), equivalent to about 46% of the  country’s gross domestic product, in FY 2014 (October 2013-September 2014).   Thailand’s Commerce Ministry plans to auction more rice through the Agriculture Futures Exchange of Thailand (AFET), according to local sources, but first needs the military government’s approval.   The Thai Finance Ministry has raised three-year loans of about 40 billion baht (about $1.2 billion) to complete payments for the now-defunct rice pledging scheme, reports Reuters.   The head of the Thai military government has said that it will be at least a year before the country is ready for a general election, meanwhile an interim government will be set up by August/September, according to Reuters.  The military government confirmed it has no plans to revive the rice-pledging scheme.  

India 5% broken rice is today shown at about $440 per ton, unchanged from a week ago, up about $25 per ton from a month ago, and down about $5 per ton from a year ago.   In anticipation of El Nino and its negative effect on monsoon rains, the Indian government has prepared contingency plans, according to the new Agriculture Minister.  However, analysts expect India’s wholesale prices to remain stable since the government has sufficient stocks, according to the Economic Times.   Planting for karif rice crop (the main rice crop, June-December) has begun in India and about 238,000 hectares were completed as of June 13, according to the Indian Agriculture Ministry.  This is about 70% less than the 794,000 hectares planted during the same time last year.   The Indian government is being urged by analysts to reform the paddy rice procurement process, recommending government agencies buy milled rice directly from millers.   Starting in September, the government will begin using Global Positioning System (GPS) and Radio-frequency Identification devices (RFID) to track the 300 trucks that carry food grains from storage to destination, in efforts to curb embezzlement during transit.   Kaipad rice – a red, non-sticky rice variety grown organically in the southern state of Kerala – is now registered in the Geographical Indications Registry (GIR) with the Government of India.  

Vietnam 5% broken rice (new crop) is today shown at about $405 per ton, down about $5 per ton from a week and a month ago and up about $30 per ton from a year ago.   During the first five months of the year, Vietnam exported about 2.335 million tons of rice, according to the Vietnam Food Association (VFA), about 16% less than the same time in 2013.  During the month of May, Vietnam exported only about 585,536 tons of rice, about 10% less than in May 2013.   A VFA advisor has warned Vietnam’s rice exporters that overdependence on exports to China and subsequent loss of traditional markets may prove risky.   The Philippines Agriculture Secretary has been accused of striking a “midnight deal” – including illegal kickbacks - with Vietnam’s state-owned exporting company VINAFOOD II in April.   Pakistan   Pakistan 5% broken rice is today quoted at about $450 per ton, unchanged from a week ago, up about $25 per ton from a month ago and down about $10 per ton from a year ago.   Many rice exporters in Pakistan have begun diverting their Mexico-bound rice shipments to African countries after Mexico rejected about 100 Pakistan rice containers for being contaminated with the Khapra beetle, according to local sources.  

Pakistan’s opposition party, the Pakistan People’s Party (PPP), has urged the government to fix minimum support price for basmati rice at Rs. 3,000 per 40-kilogram bag (about $755 per ton) to help rice farmers and exporters be more competitive with Indian and Thai exporters, according to local sources.

fonte:Oryza White Rice Index