World Grain - May 2012 - 22

GRAINMARKETREVIEW

Rice
Prices remain firm as records are set in global production and consumption
by Chris Lyddon

World rice situation
(in 1,000 tonnes)

Production 500,000 400,000 300,000 200,000

Consumption

Ending stocks

Rice is breaking records in global production and consumption. Although demand is covered, causing a rise in ending stocks, there have 100,000 been enough bullish factors in the market to keep prices mostly firm. “Rice export markets in Asia strengthened in March, with values 0 supported by logistical issues in India, unexpectedly heavy buying by China and ongoing support measures in Thailand,” the International Grains Council (IGC) said in its Grain Market Report. It predicts a rise of 3% in world rice production in 2011-12, bringing it to 463 million tonnes. “Despite a further expansion in world *Projected Source: U.S. Department of Agriculture use, to 459 million tonnes (449 million), the global 2011-12 carryover is expected to increase to 99 million (96 million),” it said. “The amount of rice in an effort to ease domestic market values which projected rise is largely due to increases in key exporters, namely have moved markedly higher this year.” India and Thailand, as well as in China.” “While there was a degree of uncertainty about the actual volume It forecasts a fall of 5% in world trade to 32.7 million tonnes be- secured by Chinese buyers, the Vietnam Food Association indicatcause of reduced Asian imports. ed that exporters were contracted to deliver up to 500,000 tonnes,” In its World Agricultural Supply and Demand Estimates report, it said. “Although traders suggested that China could buy more in the U.S. Department of Agriculture (USDA) reduced production the near future, purchases would likely be relatively small to avoid and consumption predictions for 2011-12. “World rice production is dampening domestic prices ahead of harvesting.” reduced 1.7 million tonnes to 463.7 million tonnes, still a record, The IGC also cited reports that the National Food Authority of the largely due to lower projections for Burma, Colombia, Egypt and Philippines had purchased 500,000 tonnes of broken rice as supportIndonesia, which are partially offset by increased projections for ive to the market in Vietnam. “Traders noted that it was now unlikely Bangladesh, Thailand and Vietnam,” it said. “Global consumption that the Philippines would buy 380,000 tonnes through private-sector is reduced 4.1 million tonnes to 458.8 million, still a record, largely channels as originally planned,” the IGC said. due to reductions for Burma, Egypt, India, Pakistan and Thailand, The Council also reported rises in export quotations for white and partially offset by increases for China, E.U.-27 and Iran.” parboiled rice in Pakistan, with 25% broken increasing by as much as The USDA raised its figure for exports for 2011-12 by 800,000 tonnes 12% to a five-month peak of $425 fob before easing slightly thereafto 33.9 million tonnes, down nearly 1 million tonnes from the record set ter. “Gains were underpinned by buying interest, especially from Afin 2010-11. “Projected imports are raised for China, Egypt, E.U.-27 and rican importers, prompted by logistical difficulties at ports in India,” Indonesia,” it said. “Forecast exports are raised for India, Vietnam and it said. “In that market, a slower pace of shipments, together with the United States, and lowered for Burma, China and E.U.-27. ample domestic availabilities, weighed on export prices, as offers for “Global ending stocks are projected at 103.3 million tonnes, up 25% broken fell by 4%, to $378 fob, a near three-month low.” nearly 3 million tonnes from last month, an increase of almost 5 milIn Thailand, support mostly came from government intervention lion tonnes from 2010-11, and the largest since 2001-02. Burma, In- buying, due to run until the end of June. “However, renewed export donesia, E.U.-27, Pakistan, the Philippines and Thailand account for demand, including the reported purchase of at least 350,000 tonnes the bulk of the upward revision in global ending stocks.” by African importers mildly underpinned,” it said. The IGC’s report noted that most markets are up. “Global export The more recent USDA ERS Rice Outlook report said that “except markets for white and parboiled rice mostly strengthened during for parboiled rice, trading prices for Thailand’s rice have changed March, with the IGC-GOI Rice sub-Index advancing by 2%, to 213 little since early March, as demand for Thailand’s non-parboiled rice points,” it said. “Amid logistical difficulties at India’s ports, renewed remains weak. In contrast, price quotes from Vietnam have risen subbuying interest underpinned solid gains in Pakistan, while big pur- stantially over the past month, mostly a response to large purchases chases by China and the Philippines supported increases in Vietnam. by China and the Philippines for delivery in the second quarter. U.S. Elsewhere, government policy continued to underpin the market in long-grain milled-rice prices have fallen from a month earlier, conThailand, but milled rice values at the U.S. Gulf edged lower in gen- tinuing a downward trend that began in early October,” it said. erally limited activity.” It reported that broken rice values in Vietnam eased, with improvChris Lyddon is World Grain’s European editor. ing new crop supplies and competition from South Asian exporters. He may be contacted at: chris.lyddon@ntlworld.com. “However, the market subsequently recovered on fresh international buying interest, more than offsetting pressure from increasing ex- We want to hear from you — Send comments and inquiries to worldgrain@sosland. com. For reprints of WG articles, e-mail reprints@sosland.com. port availabilities,” it said. “China purchased an unexpectedly large 2011-12* 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11
22 May 2012 / World Grain / www.World-Grain.com


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World Grain - May 2012

Table of Contents for the Digital Edition of World Grain - May 2012

World Grain - May 2012
Table of Contents
from the editor-in-chief - India marked by grain milling excitement
Calendar of Events
News review - GrainCorp adds capacity to key port terminals
News review - Greg Page discusses food security
News review - OSHA, Bartlett at odds over elevator mishap
News review - CME launches Black Sea wheat futures contract
News review - U.K. donates $25 million to improve ag statistics
News review - CHS second-quarter earnings drop 60%
News review - Bunge announces management transition at Bunge EMEA
News review - Kazakhstan to build grain export terminal in Iran
News review - Sistema, Louis Dreyfus family establish Russian jv
News review - Ukraine nearly doubles grain exports
News review - Cargill reports strong third-quarter earnings
News review - CBH Group names new deputy chairman
News review - Australian wheat quality improving
News review - CBH appoints new CBH Grain general manager
Grain Market Review - Rice
Country Focus - Pakistan
Feature - A missing piece of the puzzle
Feature - A leader in many categories
Feature - Europe's CAP celebrates 50 years
Feature - Grain storage and handling projects
Grain Operations - Maximizing returns
Feature - Global center unites grain experts
Biofuels Business Quarterly - The push for biotech wheat
World Grain's Biofuels Business Quarterly
Biofuels Business Quarterly - Ethanol's future in Brazil, U.S.
Feature - Canada's push for biofuels
Biofuels News Review - U.S. EPA approves E15 as registered fuel
Biofuels Business Quarterly - Saudi Arabia’s demand for DDGS grows
Biofuels Business Quarterly - Lautt takes over from Broin as POET CEO
Biofuels News Review - Boeing to study renewable jet fuels in Brazil
Biofuels News Review - Maple Energy completes Peru ethanol plant
Biofuels News Review - Solazyme, Bunge to build renewable oil facility in Brazil
Biofuels News Review - Mascoma, Lallemand enter agreement with Pacific Ethanol
Rice Quarterly - India gaining influence in rice market
Rice News Roundup - IGC estimates India’s rice exports at 6.1 million tonnes
Rice News Roundup - U.S. rice industry preps for trade with Colombia
Rice News Roundup - Vietnam rice exports fall in first quarter
Rice News Roundup - U.S. lawmakers ask Iraq to ease rice import rules
Rice News Roundup - Sumitomo to enter rice distribution in China
Feature - Global cooling trend
Feature - Positioned for success
Supplier News
Product Showcase
Advertiser Index/Reader Information Faxback Program
World Grain - May 2012 - World Grain - May 2012
World Grain - May 2012 - 2
World Grain - May 2012 - 3
World Grain - May 2012 - 4
World Grain - May 2012 - Table of Contents
World Grain - May 2012 - 6
World Grain - May 2012 - from the editor-in-chief - India marked by grain milling excitement
World Grain - May 2012 - 8
World Grain - May 2012 - Calendar of Events
World Grain - May 2012 - 10
World Grain - May 2012 - 11
World Grain - May 2012 - News review - Greg Page discusses food security
World Grain - May 2012 - 13
World Grain - May 2012 - News review - OSHA, Bartlett at odds over elevator mishap
World Grain - May 2012 - News review - CME launches Black Sea wheat futures contract
World Grain - May 2012 - News review - CHS second-quarter earnings drop 60%
World Grain - May 2012 - News review - Kazakhstan to build grain export terminal in Iran
World Grain - May 2012 - News review - Ukraine nearly doubles grain exports
World Grain - May 2012 - News review - Cargill reports strong third-quarter earnings
World Grain - May 2012 - News review - Australian wheat quality improving
World Grain - May 2012 - News review - CBH appoints new CBH Grain general manager
World Grain - May 2012 - Grain Market Review - Rice
World Grain - May 2012 - 23
World Grain - May 2012 - Country Focus - Pakistan
World Grain - May 2012 - 25
World Grain - May 2012 - 26
World Grain - May 2012 - 27
World Grain - May 2012 - 28
World Grain - May 2012 - 29
World Grain - May 2012 - Feature - A missing piece of the puzzle
World Grain - May 2012 - 31
World Grain - May 2012 - 32
World Grain - May 2012 - 33
World Grain - May 2012 - 34
World Grain - May 2012 - 35
World Grain - May 2012 - 36
World Grain - May 2012 - 37
World Grain - May 2012 - Feature - A leader in many categories
World Grain - May 2012 - 39
World Grain - May 2012 - 40
World Grain - May 2012 - 41
World Grain - May 2012 - 42
World Grain - May 2012 - 43
World Grain - May 2012 - Feature - Europe's CAP celebrates 50 years
World Grain - May 2012 - 45
World Grain - May 2012 - 46
World Grain - May 2012 - 47
World Grain - May 2012 - 48
World Grain - May 2012 - 49
World Grain - May 2012 - Feature - Grain storage and handling projects
World Grain - May 2012 - 51
World Grain - May 2012 - 52
World Grain - May 2012 - 53
World Grain - May 2012 - 54
World Grain - May 2012 - 55
World Grain - May 2012 - 56
World Grain - May 2012 - 57
World Grain - May 2012 - 58
World Grain - May 2012 - 59
World Grain - May 2012 - 60
World Grain - May 2012 - 61
World Grain - May 2012 - Grain Operations - Maximizing returns
World Grain - May 2012 - 63
World Grain - May 2012 - 64
World Grain - May 2012 - 65
World Grain - May 2012 - 66
World Grain - May 2012 - 67
World Grain - May 2012 - Feature - Global center unites grain experts
World Grain - May 2012 - 69
World Grain - May 2012 - 70
World Grain - May 2012 - 71
World Grain - May 2012 - Biofuels Business Quarterly - The push for biotech wheat
World Grain - May 2012 - 73
World Grain - May 2012 - 74
World Grain - May 2012 - 75
World Grain - May 2012 - 76
World Grain - May 2012 - 77
World Grain - May 2012 - 78
World Grain - May 2012 - World Grain's Biofuels Business Quarterly
World Grain - May 2012 - Biofuels Business Quarterly - Ethanol's future in Brazil, U.S.
World Grain - May 2012 - 81
World Grain - May 2012 - 82
World Grain - May 2012 - 83
World Grain - May 2012 - Feature - Canada's push for biofuels
World Grain - May 2012 - 85
World Grain - May 2012 - Biofuels News Review - U.S. EPA approves E15 as registered fuel
World Grain - May 2012 - 87
World Grain - May 2012 - Biofuels Business Quarterly - Lautt takes over from Broin as POET CEO
World Grain - May 2012 - Biofuels News Review - Mascoma, Lallemand enter agreement with Pacific Ethanol
World Grain - May 2012 - Rice Quarterly - India gaining influence in rice market
World Grain - May 2012 - 91
World Grain - May 2012 - 92
World Grain - May 2012 - 93
World Grain - May 2012 - 94
World Grain - May 2012 - Rice News Roundup - Vietnam rice exports fall in first quarter
World Grain - May 2012 - Rice News Roundup - Sumitomo to enter rice distribution in China
World Grain - May 2012 - 97
World Grain - May 2012 - Feature - Global cooling trend
World Grain - May 2012 - 99
World Grain - May 2012 - 100
World Grain - May 2012 - 101
World Grain - May 2012 - Feature - Positioned for success
World Grain - May 2012 - 103
World Grain - May 2012 - 104
World Grain - May 2012 - 105
World Grain - May 2012 - 106
World Grain - May 2012 - 107
World Grain - May 2012 - Supplier News
World Grain - May 2012 - 109
World Grain - May 2012 - 110
World Grain - May 2012 - 111
World Grain - May 2012 - Product Showcase
World Grain - May 2012 - 113
World Grain - May 2012 - Advertiser Index/Reader Information Faxback Program
World Grain - May 2012 - 115
World Grain - May 2012 - 116
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http://digital.world-grain.com/sosland/wg/2008_11_01
http://digital.world-grain.com/sosland/wg/2008_10_01
http://digital.world-grain.com/sosland/wg/2008_09_01
http://digital.world-grain.com/sosland/wg/2008_08_01
http://digital.world-grain.com/sosland/wg/2008_07_01
http://digital.world-grain.com/sosland/wg/2008_06_01
http://digital.world-grain.com/sosland/wg/2008_05_01
http://digital.world-grain.com/sosland/wg/2008_04_01
http://digital.world-grain.com/sosland/wg/2008_03_01
http://digital.world-grain.com/sosland/wg/2008_02_01
http://digital.world-grain.com/sosland/wg/2008_01_01
http://digital.world-grain.com/sosland/wg/2007_12_01
http://digital.world-grain.com/sosland/wg/2007_11_01
http://digital.world-grain.com/sosland/wg/2007_10_01
http://digital.world-grain.com/sosland/wg/2007_09_01
http://digital.world-grain.com/sosland/wg/2007_08_01
http://digital.world-grain.com/sosland/wg/2007_07_01
http://digital.world-grain.com/sosland/wg/2007_06_01
http://digital.world-grain.com/sosland/wg/2007_05_01
http://digital.world-grain.com/sosland/wg/2007_04_01
http://digital.world-grain.com/sosland/wg/2007_03_01
http://digital.world-grain.com/sosland/wg/2007_02_01
http://digital.world-grain.com/sosland/wg/2007_01_01
http://digital.world-grain.com/sosland/wg/2006_12_01
http://digital.world-grain.com/sosland/wg/2006_11_01
http://digital.world-grain.com/sosland/wg/2006_10_01
http://digital.world-grain.com/sosland/wg/2006_09_01
http://digital.world-grain.com/sosland/wg/2006_08_01
http://digital.world-grain.com/sosland/wg/2006_07_01
http://digital.world-grain.com/sosland/wg/2006_06_01
http://digital.world-grain.com/sosland/wg/2006_05_01
http://digital.world-grain.com/sosland/wg/2006_04_01
http://digital.world-grain.com/sosland/wg/2006_03_01
http://digital.world-grain.com/sosland/wg/2006_02_01
http://digital.world-grain.com/sosland/wg/2006_01_01
http://digital.world-grain.com/sosland/wg/2005_12_01
http://digital.world-grain.com/sosland/wg/2005_11_01
http://digital.world-grain.com/sosland/wg/2005_10_01
http://digital.world-grain.com/sosland/wg/2005_09_01
http://digital.world-grain.com/sosland/wg/2005_08_01
http://digital.world-grain.com/sosland/wg/2005_07_01
http://digital.world-grain.com/sosland/wg/2005_06_01
http://digital.world-grain.com/sosland/wg/2005_05_01
http://digital.world-grain.com/sosland/wg/2005_04_01
http://digital.world-grain.com/sosland/wg/2005_03_01
http://digital.world-grain.com/sosland/wg/2005_02_01
http://digital.world-grain.com/sosland/wg/2005_01_01
http://digital.world-grain.com/sosland/wg/2004_12_01
http://digital.world-grain.com/sosland/wg/2004_11_01
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_01
http://digital.world-grain.com/sosland/wg/2004_09_01
http://digital.world-grain.com/sosland/wg/2004_08_01
https://www.nxtbookmedia.com