Philippines seen importing more rice.

The Philippines is projected to import at least 1.5 million metric tons (MMT) of rice this year, 53.33 percent more than the estimated 0.7 million metric tons (MT) the country purchased from abroad last year. The FAO also noted that the price of rice for exports has started to go up after the Philippines and Bangladesh have sent signals that it would import more rice this year.

WASDE JUNE RICE OUTLOOK:

U.S. 2016/17 rice ending stocks are lowered 2.0 million cwt this month on increased exports. Milled exports for 2016/17 are raised 4.0 million cwt on strong demand particularly in the Middle East. However, rough exports for 2016/17 are lowered 2.0 million cwt on a correction in Census data for shipments to El Salvador; the correction also led to a slight reduction in 2015/16 rough exports. Total supplies for 2017/18 are down 2.0 million cwt, reflecting the lower beginning stocks and unchanged production. All rice planted area remains estimated at 2.6 million acres despite weather-related uncertainties in the mid-South and California during planting this spring. NASS will release the Acreage report on June 30 providing an estimate for rice planted area and a forecast for harvested area. Total exports are raised 2.0 million cwt to 112.0 million with milled increased 3.0 million and rough reduced 1.0 million. Ending stocks are lowered 4.0 million cwt to 34.1 million, and the 2017/18 all rice season-average farm price is raised $0.30 per cwt at the midpoint to a range of $11.00 to $12.00. Global supplies are raised fractionally for both 2016/17 and 2017/18. The largest change is a 1.5-million-ton increase in 2016/17 India production to 108.0 million on updated government statistics. Global 2017/18 rice production is lowered fractionally to 481.0 million tons, down 2.1 million tons from the previous year and the second largest on record. Exports are raised 0.6 million tons in 2016/17 and 0.5 million tons in 2017/18 both largely on increases for India. Imports for 2017/18 are raised 0.4 million tons for Bangladesh on tight supplies. Only slight changes are made this month to total use. Ending stocks are raised 0.7 million tons for 2016/17 and 0.8 million tons for 2017/18, respectively.

Dairy body to buy 1,500 tonne de-oiled rice bran.

The National Cooperative Dairy Federation of India will buy 1,500 tonne de-oiled rice bran and 300 tonne of rice polish through a reverse electronic auction on Friday. The commodities, used as cattle feed, will be bought on behalf of the Erode District Co-Operative Milk Producers’ Union. The National Cooperative Dairy Federation of India, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.

Thailand rice prices high on strong demand from importing countries.

Prices of Thai rice hit their highest in nearly four years while those of the Vietnamese grain rose to their strongest in more than two years on strong demand from key importing countries. Thailand’s benchmark 5-percent broken rice RI-THBKN5-P1 was quoted at $440-$457 a tonne, free-on-board (FOB) Bangkok, up from $430 last week. Exporters are now buying the grain at much higher prices than when deals were struck, while some have shied away from fresh deals. Thailand has exported 5.09 million tonnes of rice so far, this year, up 15.7 percent from the same period last year.

Vietnamese rice prices hit highest in over two years.

In Vietnam, the 5-percent broken rice RI-VNBKN5-P1 was quoted at $395-$400 a tonne, FOB Saigon, up from $390 last week, and the highest level since November 2014. Prices are expected to rise further in Thailand and Vietnam, the world’s second and third biggest rice exporters. Demand from key importers of the grain has been strong this year. Most private traders and farmers are still holding grains for higher prices. Bangladesh also plans to increase rice imports from Vietnam to 500,000 tonnes by end-2017 and to buy 1 million tonnes of Vietnamese rice annually until 2022.

Rice Strong demand from Bangladesh and Philipines.

Bangladesh is set to import 250,000 tonnes of rice from Vietnam in a government-to-government deal, as part of an effort to build reserves, which are at 10-year lows, and rein in record-high local prices after flash floods hit output. The Philippines has also said it would issue a tender next month to import 250,000 tonnes of the grain from Thailand and Vietnam, and possibly also India. In India, the world’s biggest rice exporter, prices of 5-percent broken parboiled rice RI-INBKN5-P1 climbed by $2 per tonne to $415-$418, as demand from overseas buyers rose.

Maharashtra to pay 30 rupees/100 kg extra for milling procured rice.

Maharashtra will pay rice millers 30 rupees per 100 kg over and above the Centre-fixed 10 rupees per 100 kg for raw rice and the mandatory 20 rupees for parboiled rice. The additional payment will be eligible for milling of rice procured in kharif and rabi seasons of 2016-17 and beyond. The rates had not been revised since 2005-06, and from 2015-16, the state decided to make additional payment to prevent rice mills from discontinuing operations.

Rice sowing target in Kazakhstan exceeded by 11%.

Despite the late arrival of spring, planting in Kazakhstan has already almost caught up with last year progress, even outpaced it in some regions. The lag in individual grain growing regions results from rainy weather at the plantings time. Spring spiked cereals were sown on an area of 12.53 million hectare, 2017 (87.5% of the plan) that is 4.6% less than at the same time last year (13.13 million hectare or 89.6% of the plan). The rice sowing target in the country has already been exceeded by 11%. Kazakh farmers planted 102.7 thousands hectare of rice by the reporting date, or 14.5% more than at the same time last year (89.7 thousands hectare).

Thailand Most edible rice in old stockpile now sold.

The National Rice Policy Committee has approved the 16.56-billion-baht sale of 1.66 million tonnes of old rice to auction winners, leaving only 160,000 tonnes of edible rice in the stockpile. the committee endorsed the sale of the rice that 24 bidders won in the second auction of old government rice this year. 90.84% of the 1.82 million tonnes put up for auction were sold. 90.84% of the 1.82 million tonnes put up for auction were sold.

USDA estimates India on pace for record rice procurement.

Riding on expected record harvest, India rice procurement already has surpassed the previous record of 36 million tonnes in market year 2009-10. The country rice procurement is estimated at 36.9 million tonnes compared to 32.6 million tonnes during the corresponding period last year. With additional procurement of rabi and summer rice expected to continue in eastern and southern states, India rice procurement in market year 2016-17 is likely to touch a record 38 million tonnes, about 4 million tonnes higher than last year. The USDA estimates India market year 2016-17 rice production at a record 108 million tonnes.

India rice prices unchanged.

Prices of rice remained unchanged in the key wholesale market of Kapurthala. The steamed variety of Pusa 1121 basmati rice was sold at 7,000-7,200 rupees per 100 kg in Kapurthala, while the parboiled variety was sold at 6,000-6,100 rupees. Prices of 25% broken non-basmati rice were unchanged at 2,300 rupees per 100 kg.

USDA arm sees India 2016-17 rice exports at 11 million tonne.

India wheat exports in 2016-17 marketing year (Oct-Sep) are likely to be at 11 million tonne, up from 10.2 million tonne a year ago. the country had exported 5.2 million tonne rice, up from 4.8 million tonne in the year ago period. Indian rice exports have risen due to strong demand for non-basmati rice from African countries and neighboring Bangladesh, a record production at home and international parity in prices.

Rice, corn sown early in Thailand on good rains.

The cultivation of main crop rice and corn in Thailand is occurring much sooner than the year-ago period due to favourable rainfall and sufficient water reservoir levels. Thailand Royal Irrigation Department crop progress report indicated that approximately 300,000 ha main-crop rice has been planted in irrigated areas, compared to 4,800 ha in the year ago period. Thai rice exports during Jan-Apr (2017-18), was at 3.6 million tonne, up 2% on year. Exports of corn from the country in 2016-17 are revised up to 700,000 tonne, compared to 500,000 tonne in the previous forecast.