USA Rice Gets In-depth Look at Japan Market
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Yumi Kojima leads the discussion
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TOKYO, JAPAN -- Last week USA Rice leaders engaged in the export trade to Japan received a detailed briefing on USA Rice's promotional activities in Japan, where the focus is on the quality and safety of U.S. rice and the promotion of U.S. medium grain rice to the foodservice sector, deli operators, and retailers. U.S. rice is under particular challenge today because the depressed domestic price of Japanese rice, coupled with the high costs imposed by the Japanese government in the operation of the Simultaneous Buy-Sell system, severely reduces the cost competitiveness of imported U.S. rice.
Yumi Kojima, head of USA Rice's representative office in Tokyo, outlined Japan's domestic rice market situation, the relative competitive position of imported rice from various origins to Japanese rice, and outreach and promotion efforts to consumers, bloggers, restaurants, and retailers.
While here, the USA Rice team also attended the 18th annual U.S.-Japan rice technical meeting and met with staff from the U.S. Department of Agriculture's Foreign Agricultural Service posted to the U.S. embassy.
"These annual meetings are an excellent and important venue for discussing and resolving technical issues with our Japanese counterparts with the goal of better mutual understanding and more efficient rice trade between our two countries," said Alex T. Balafoutis, U.S. delegation chairman and vice president, PGP International, Inc.
Both sides exchanged reports on the rice supply and demand situation in the United States and Japan, the U.S. rice export situation, and concluded with a discussion and overall positive assessment of the quality of U.S. rice.
In addition to Chairman Balafoutis, the U.S. delegation included Todd Burich, ADM Rice; Jess Errecarte, SunWest Foods; Jim Higa, Sun Valley Rice Co.; Kirk Messick, Farmers' Rice Cooperative; Michael Rue, rice producer, and USA Rice COO Bob Cummings.
Contact: Bob Cummings (703) 236-1473
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EPA Sets New Threshold for SPCC Rule
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WASHINGTON, DC -- Recently the U.S. Environmental Protection Agency (EPA) Office of Emergency Management released the findings of a study to determine the aggregate aboveground oil storage capacity threshold for farms subject to the Spill Prevention Control and Countermeasure (SPCC). The EPA storage capacity report was a requirement of the Water Resources Reform and Development Act (WRRDA) of 2014.
Without a national registration database of aboveground oil storage tanks on farms, EPA used anecdotal and other data to determine that the original 1,320 gallon capacity threshold was appropriate. However, the WRRDA required a new threshold of between 2,500 gallons and 6,000 gallons. EPA has opted for the minimum 2,500 gallon threshold as the new trigger for compliance under SPCC -- a move that EPA states will exempt more than 80 percent of farms in the United States.
In response to the new WRRDA report, Congressman Rick Crawford (R-AR) plans to reintroduce the Farmers Undertake Environmental Stewardship (FUELS) Act, which modifies EPA's SPCC regulations applicability on farms and raises the exemption level for a single container up to 10,000 gallons.
A fact sheet on the WRRDA-compliant SPCC rule for farms can be found here.
Contact: Steve Hensley (703) 236-1445
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Weekly Rice Sales, Exports Reported
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WASHINGTON, DC -- Net rice sales of 9,400 MT for 2014/2015 were down 91 percent from the previous week and 88 percent from the prior four-week average, according to today's Export Sales Highlights report. Increases were reported for Venezuela (30,000 MT switched from unknown destinations), Haiti (14,300 MT), Mexico (6,800 MT), New Guinea (3,200 MT), and Canada (1,300 MT). Decreases were reported for unknown destinations (28,000 MT), Turkey (20,000 MT), and Taiwan (300 MT). Net sales of 132,400 MT for 2015/2016 were reported for Iraq (60,000 MT), Iran (60,000 MT), unknown destinations (5,500 MT), and Honduras (3,400 MT).
Exports of 92,400 MT were up noticeably from the previous week and up 53 percent from the prior four-week average. The primary destinations were Venezuela (30,000 MT), Haiti (14,300 MT), Mexico (12,700 MT), Japan (12,000 MT), and Ghana (7,000 MT).
This summary is based on reports from exporters from the period July 10-16, 2015.
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CME Group/Closing Rough Rice Futures | CME Group (Prelim): Closing Rough Rice Futures for July 23
September 2015 | $11.110 |
- $0.010
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November 2015
| $11.375 |
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January 2016
| $11.645 |
- $0.005
| March 2016 | $11.845 |
- $0.005
| May 2016 | $12.035 |
- $0.005
| July 2016 | $12.035 |
- $0.005
| September 2016
| $12.045
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- $0.005
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In the News
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Science and Technology
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Mission Statement | USA Rice Federation is the global advocate for all segments of the U.S.
rice industry with a mission to promote and protect the interests of
producers, millers, merchants and allied businesses. |
About Us | Editor: Michael Klein (703) 236-1458 mklein@usarice.com
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This report is time-sensitive, based on information available at press time. Content is derived from facts and sources believed to be reliable. Reprinting and/or distribution may be done with permission of the USA Rice Federation
Copyright © 2015. Please direct comments or questions to the editor or contact name listed for each story. |
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