Honduras Confirms Additional Quota of 25,000 MT of U.S. Rice
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TEGUCIGALPA, HONDURAS -- The Honduran Ministry of Agriculture (SAG) confirmed that an additional 25,000 MT of U.S. paddy rice will be imported duty free this calendar year, above the already fulfilled 2015 CAFTA-DR Tariff Rate Quota (TRQ) amount of 108,000 MT for paddy rice.
As has happened in years prior, agribusiness and representatives of the Executive Directorate of Revenue (DEI), the Honduran Institute of Agricultural Marketing (IHMA), the Ministry of Economic Development (SDE), and the Institute National Agriculture (INA) met with the SAG last month. Based on "desabasto" or insufficient supply, they have requested the ability to import additional amounts of paddy rice. The additional quota is then allocated by the government, based on domestic production purchases.
"After listening to agribusinesses, which requested 44,000 MT, we reviewed local production projections and decided to approve 25,000 MT," said Jacobo Paz, head of the SAG.
Honduras, slightly larger than Tennessee, is home to more than 8 million people. Annual rice consumption is as high as 770 million pounds, but with domestic production maxing out at 440 million pounds, the government here is forced to resort to import quotas to address the shortfall. This year's El Niño drought has exacerbated the production situation, causing losses in crops including rice.
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CCC Announces Prevailing World Market Prices
| WASHINGTON, DC -- The Department of Agriculture's Commodity Credit Corporation today announced the following prevailing world market prices of milled and rough rice, adjusted for U.S. milling yields and location, and the resulting marketing loan gain (MLG) and loan deficiency payment (LDP) rates applicable to the 2015 crop, which will become effective today at 7:00 a.m., Eastern Time (ET). Rough rice prices decreased $0.22 per cwt for long grain and $0.25 per cwt for medium/short grain.
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World Price
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MLG/LDP Rate
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Milled Value ($/cwt)
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Rough ($/cwt)
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Rough ($/cwt)
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Long Grain
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14.81
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9.35
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0.00
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Medium/Short Grain
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14.33
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9.61
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0.00
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Brokens
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8.93
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This week's prevailing world market prices and MLG/LDP rates are based on the following U.S. milling yields and the corresponding loan rates:
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U.S. Milling Yields
Whole/Broken
(lbs/cwt)
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Loan Rate
($/cwt)
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Long Grain
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55.01/13.46
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6.50
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Medium/Short Grain
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61.81/8.43
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6.50
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The next program announcement is scheduled for September 16, 2015. |
| CME Group/Closing Rough Rice Futures | CME Group (Prelim): Closing Rough Rice Futures for September 9
| September 2015 | $12.215 |
+ $0.205
| | November 2015 | $12.465 |
+ $0.200
| | January 2016 | $12.750 |
+ $0.195
| | March 2016 | $12.970 |
+ $0.170
| | May 2016 | $13.155 |
+ $0.130
| July 2016
| $13.305
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+ $0.130
| September 2016
| $12.510
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+ $0.135
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In the News
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Around Washington
Today, USDA is focused more than ever before on partner-based solutions to drive our conservation efforts. NRCS is calling on farmers, ranchers, partner organizations, and local government to drive our Farm Bill investments through the innovative Regional Conservation Partnership Program, or RCPP. Earlier this year, we announced 115 partner-driven projects in which we'll invest more than $370 million, which is being matched by our partners.
Around the Country
Over 90 percent of Arkansas fields have reached harvest moisture (20 percent). The weather for the next 10 days looks excellent for harvest and if the dew will lighten up many will make tremendous progress.
Science and Technology
To keep rice a viable crop, researchers are looking into wild rice varieties for genetic diversity that might help one crop survive the salty intrusion of water in fields near a coast. One such researcher, Robert Henry of the University of Queenland led an expedition into the wilds of Cape York to search for the wildest wild rice.
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| Mission Statement | | USA Rice 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
Fax (703) 236-2301
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Arlington, VA 22201
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 USA Rice.
Copyright © 2015. Please direct comments or questions to the editor or contact name listed for each story. |
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