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India's rice auctions under the Open Market Sale Scheme (OMSS) since their launch on April 1
this year have received a lukewarm response from traders and private purchasers, according to
local sources.With an intention to clear off the buffer stocks with the Food Corporation of India
(FCI, the government of India has allowed the FCI to offload excess rice stocks to the extent of
around 2 million tons to bulk buyers such as millers and traders. Any government agencies are
not allowed to participate in bidding, according to local sources.However, the FCI received bids
for only 350 tons so far.
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The Chennai-based Intellectual Property Appellate Board (IPAB) will reportedly hear the claims
of parties involved in the basmati gegraphical indications (GI) certification case for three days
www.ricepluss.com & www.riceplusmagazine.blogspot.com
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South Korea Buys 55,378 Tons of NonGlutinous Brown Rice from U.S. and China
in Tender
May 27, 2015
South Korea's state run Agro Fisheries & Food Trade Corporation (KAFTC) has purchased
55,378 tons of non-glutinous brown rice of the U.S. and Chinese origins, according to a
statement on its website.The tonnage and price details of the various varieties of rice purchased
are as below.KAFTC originally sought to purchase about 75,378 tons of non-glutinous rice via
eight tenders but will announce the results for 10,000 tons of non-glutinous short-grain brown
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Chicago rough rice futures for Jul delivery are currently seen paused 1.5 cents per cwt (about
$0.33 per ton) lower at $9.405 per cwt (about $207 per ton) during early floor trading in
Chicago. The other grains are seen trading with mixed results; soybeans are currently seen about
0.2% higher, wheat is listed about 1.3% lower and corn is currently noted about 0.9% lower.U.S.
stocks traded higher on Wednesday, recovering some of Tuesday's sharp decline, as investors
eyed Greece headlines amid continued rise in the dollar and bond yields. The Dow Jones
industrial average traded about 105 points higher. The blue chip index fell as much as 242 points
on Tuesday before closing 190 points lower. European stocks opened higher and rallied on
encouraging reports out of Greece.
The German DAX gained more than 1 percent, while Greece's ATHEX Composite traded 3.5%
higher. No major data is expected Wednesday. Weekly mortgage applications dropped 1.6% as
higher rates put a pause on refinancing. Investors will continue to watch the Dow transports,
which attempted to trade about half a percent higher. The index extended its recent selloff on
Tuesday, with its 50-day moving average falling below its 200-day moving average. Gold is
currently trading slightly higher, crude oil is seen trading about 0.4% lower, and the U.S. dollar
is currently trading about 0.1% higher at 8:30am Chicago time.
Thailand rice sellers lowered their quotes for Hommali rice by about $10 per ton to around $850
- $860 per ton today. Other Asia rice sellers kept their quotes mostly unchanged today.
5% Broken Rice
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Vietnam 5% broken
350-360
India 5% broken
370-380
Pakistan 5% broken
405-415
Myanmar 5% broken
420-430
Cambodia 5% broken
430-440
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565-575
Argentina 5% broken
555-565
350-360
325-335
360-370
410-420
345-355
455-465
365-375
405-415
350-360
555-565
570-580
NQ
Vietnam Jasmine
470-480
Brokens
Thailand A1 Super
315-325
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