10th June (Wednesday),2015 Daily Global Rice E-Newsletter by Riceplus Magazine

Ancient algae found deep in tropical glacier

Jun 10, 2015

The remains of tiny creatures found deep inside a mountaintop glacier in Peru are clues to the local landscape more than a millennium ago, according to a new study by Rice University, the University of Nebraska-Lincoln and Ohio State University. The unexpected discovery of diatoms, a type of algae, in ice cores pulled from the Quelccaya Summit Dome Glacier demonstrate that freshwater lakes or wetlands that currently exist at high elevations on or near the mountain were also there in earlier times. The abundant organisms would likely have been transported in air currents to the glacier, where they were deposited on its surface, dead or alive, and ultimately became frozen within the glacial ice and persisted there for hundreds of years.The study is the first to show the presence of diatoms in glacial ice from tropical regions. The diatoms offer useful information about conditions in and around the Andes when they were deposited on the ice.

The paper is the result of a unique collaboration among Rice chemists Ed Billups and Bruce Brinson, Ohio State climatologist Lonnie Thompson and lead author Sherilyn Fritz, a geoscientist at Nebraska. It appears this week in Arctic, Antarctic, and Alpine Research, a journal published by the University of Colorado-Boulder.Of the four scientists, Billups, Brinson and even Thompson had something in common with the focus of their study: They were all, figuratively, fish out of water."I was the lucky latecomer to the group," said Fritz, who studies diatoms from cores she and her students drill from South American lakebeds. "It's only because Bruce was so observant and curious and did such a nice job on documenting the diatoms that it happened at all."Over a long and storied career, Thompson has collected ice cores from many of the world's hard-to-reach locations, including Quelccaya in 2003. The cores contain a climate record that spans millennia, but Thompson's ability to pull hard data from his samples was complicated by the sheer number he had preserved.

Thompson said the first record of diatoms in tropical glaciers "points to the potential of these archives for investigating how not just diatoms but other life forms such as ancient microbes survived, thrived and evolved under extreme conditions and under very different climatic regimes."The collaboration began when Thompson visited Rice for a conference and struck up a conversation with Billups, with whom he shares West Virginia roots. "We got to talking," said Billups of their first encounter. "He knew we were working on carbon materials and said, 'You know, sometimes my ice is black, and I think that's carbon.'" Billups, whose wide-ranging research includes the study of all forms of carbon, suspected wind currents carried fullerenes from forest fires to the mountaintop and offered to have a look.Thompson sent ice core filtrates in silica filter paper that preserved the contents of water from three layers corresponding to the years 1161 to 1176, 807 to 837 and 460 to 511 A.D.

(The earliest samples tested for the study were from about 540 feet below the surface of the 18,000-foot mountain.) "When I looked at the samples, I thought, 'Whatever are we going to do with these?'" Billups recalled."We realized they weren't appropriate for searching for fullerenes," said Brinson, a Rice research scientist.Brinson looked at the samples through a Rice electron microscope and quickly recognized their significance. Rather than fullerenes, they contained what the paper described as "a serendipitous byproduct": an abundance of diatoms, the study of which is generally well outside the realm of either chemists or glaciologists."When we saw the first diatom and realized it possessed periodic nanoscale structure, we knew we were documenting irreplaceable snapshots in archeological time and space," Brinson said.

"Thompson was very excited about this," Billups said. "Diatoms are found in Arctic and Antarctic ice, but he said nobody's ever found them in equatorial glaciers."Brinson hit the books and identified many of the diatoms, which ranged in size from a few to 70 microns in length. "I don't have a biological background, but I knew they were unique," he said. He also realized the team needed a specialist.Thompson, who knew of Fritz's work in South America, suggested they enlist her."There are diatoms in dust that is transported globally, and people have found them in glaciers in Antarctica and Greenland, so my first thought was they'd be like those," Fritz said. "But these are beautifully preserved, and most of the ecology we know about indicates they're not from global diatom dust sources.

"Fritz said the diatoms' excellent condition suggested they hadn't traveled far. Most but not all of them are species you would find in very dilute freshwater, either lakes or wetlands, and there are lots of those in the tropical Andes at varied elevations," she said. The presence of Volvox, green algae found in the two older samples, confirmed the diatoms' freshwater source.The study has Fritz thinking about gathering diatoms from lakes near the ice cap to see how diatom populations have changed over the centuries. "I've contemplated doing some more sampling, just because it's an interesting question," she said. She does plan to have her students take a closer look at the original samples, which Brinson sent her, "to do some quantitative counts, just to get a better sense of the relative abundance of things."

The researchers wrote that continuing study of diatoms in relation to other materials found in the ice core record could provide valuable information about local or even global environmental change."I'm convinced there's no end to what you can find in these glaciers," Billups said."One thing is clear," Thompson said. "The greatest scientific progress going forward will be made with increased collaboration among many different disciplines. Unfortunately, these valuable ice archives of our past are rapidly disappearing under the present climate conditions."

By Mike Williams

Source: Rive University

http://environmentalresearchweb.org/cws/article/yournews/61487

 

Pricey Loans to Blame for Slow Rice Exports: National Bank

 

BY KANG SOTHEAR | JUNE 10, 2015

The high-interest loans that banks offer to rice millers will likely contribute to the country’s failure to meet its goal of exporting 1 million tons of the crop by the end of the year, the head of the National Bank of Cambodia said Tuesday.Speaking during an investment luncheon at the Raffles Hotel Le Royal in Phnom Penh, National Bank Director-General Chea Serey said the inability of millers to access funds means they cannot buy paddy to process for export.“A lot of our rice millers face difficulties in getting loans from the banks because the banks ask the millers to use their land as collateral,” Ms. Serey said. “But the millers say they don’t have land to use as collateral because they just rent or lease it.”

Banks, meanwhile, charge exceptionally high interest rates because they consider lending to millers to be high risk, she said.Lun Yeng, secretary-general of the Cambodia Rice Federation, which represents the country’s rice milling and export associations, said banks typically charge between 10 and 12 percent for loans greater than $50,000 and at least 7 percent for loans of $1 million or more. For loans of less than $30,000, microfinance institutions usually charge between 2 and 2.5 percent.“The point is that millers need revolving funds when they need to buy rice paddy from farmers, while payments from exporters are generally late and their [millers’] collateral is placed at banks at the time they borrowed the money,” he said.Millers also need the money to purchase milling machines and build warehouses, he added.

According to Mr. Yeng, rice exports increased by 64 percent in the first five months of the year, compared to the same period last year, totaling 243,025 tons.“The increase in rice exports is because rice was exported to China a lot after a deal was made for Cambodia to supply 100,000 [tons] to the country,” he said.

sothear@cambodiadaily.com

https://www.cambodiadaily.com/business/pricey-loans-to-blame-for-slow-rice-exports-national-bank-85299/

Nagpur Foodgrain Prices Open- Jun 10

Nagpur, June 10 Gram and tuar prices moved down in Nagpur Agriculture Produce and

Marketing Committee (APMC) here on poor buying support from local millers amid poor quality

arrival. Fresh fall on NCDEX, easy condition in Madhya Pradesh pulses and increased arrival from

producing regions also pushed down prices, according to sources. 

               *            *              *              *

    FOODGRAINS & PULSES

    GRAM

   * Desi gram raw recovered in open market on renewed demand from local traders. Fresh 

     enquiries from South-based plants also boosted prices. 

     TUAR

   * Tuar black reported strong in open market here on good demand from local traders 

     amid weak supply from producing regions.      

   * Major wheat varieties moved down in open market on lack of demand from local traders 

     amid increased supply from producing regions like Punjab and Haryana.

   * In Akola, Tuar - 7,300-7,700, Tuar dal - 10,100-10,500, Udid at 9,100-9,600, 

     Udid Mogar (clean) - 10,700-11,100, Moong - 9,000-9,200, Moong Mogar 

    (clean) 10,700-11,100, Gram - 4,200-4,500, Gram Super best bold - 6,100-6,300 

     for 100 kg.

   * Rice and other commodities remained steady in open market in poor trading 

     activity, according to sources.

 Nagpur foodgrains APMC auction/open-market prices in rupees for 100 kg

     FOODGRAINS                 Available prices     Previous close   

     Gram Auction                   3,600-4,480         3,500-4,530

     Gram Pink Auction            n.a.           2,100-2,600

     Tuar Auction                6,000-7,390         6,000-7,480

     Moong Auction                n.a.                6,000-6,300

     Udid Auction                n.a.           4,300-4,500

     Masoor Auction                n.a.              2,600-2,800

     Gram Super Best Bold            6,200-6,500        6,200-6,500

     Gram Super Best            n.a.                

     Gram Medium Best            5,800-6,000        5,800-6,000

     Gram Dal Medium            n.a.            n.a.

     Gram Mill Quality            5,500-5,650        5,500-5,650

     Desi gram Raw                4,550-4,650         4,500-4,600

     Gram Filter new            6,000-6,100        6,000-6,100

     Gram Kabuli                5,400-6,900        5,400-6,900

     Gram Pink                6,400-6,600        6,400-6,600

     Tuar Fataka Best             10,500-10,800        10,500-10,800

     Tuar Fataka Medium             9,900-10,300        9,900-10,300

     Tuar Dal Best Phod            9,500-9,700        9,500-9,700

     Tuar Dal Medium phod            8,800-9,300        8,800-9,300

     Tuar Gavarani New             7,400-7,500        7,400-7,500

     Tuar Karnataka             8,000-8,100        8,000-8,100

     Tuar Black                 11,000-11,300           10,900-11,200 

     Masoor dal best            8,000-8,200        8,000-8,200

     Masoor dal medium            7,500-7,900        7,500-7,900

     Masoor                    n.a.            n.a.

     Moong Mogar bold               10,800-11,000       10,800-11,000

     Moong Mogar Medium best        10,000-10,500        10,000-10,500

     Moong dal Chilka            9,500-9,800        9,500-9,800

     Moong Mill quality            n.a.            n.a.

     Moong Chamki best            9,600-9,900        9,600-9,900

     Udid Mogar Super best (100 INR/KG)    11,400-11,700       11,400-11,700

     Udid Mogar Medium (100 INR/KG)    10,500-10,800        10,500-10,800

     Udid Dal Black (100 INR/KG)        8,800-9,100        8,800-9,100

     Batri dal (100 INR/KG)        4,200-4,400        4,200-4,400

     Lakhodi dal (100 INR/kg)           3,300-3,350         3,300-3,350

     Watana Dal (100 INR/KG)        3,400-3,500        3,400-3,500

     Watana White (100 INR/KG)        3,100-3,150         3,100-3,150

     Watana Green Best (100 INR/KG)    3,600-4,500        3,600-4,500

     Wheat 308 (100 INR/KG)        1,400-1,600        1,400-1,600

     Wheat Mill quality(100 INR/KG)    1,550-1,650        1,550-1,750

     Wheat Filter (100 INR/KG)        1,400-1,600           1,400-1,600

     Wheat Lokwan best (100 INR/KG)    2,200-2,400        2,200-2,450

     Wheat Lokwan medium (100 INR/KG)    1,900-2,100        1,900-2,150

     Lokwan Hath Binar (100 INR/KG)    n.a.            n.a.

     MP Sharbati Best (100 INR/KG)    3,100-3,600        3,100-3,700

     MP Sharbati Medium (100 INR/KG)    2,700-2,900        2,800-3,000

     Wheat 147 (100 INR/KG)        1,400-1,500        1,400-1,500

     Wheat Best (100 INR/KG)        1,900-2,100        2,000-2,200     

     Rice BPT New(100 INR/KG)        2,700-2,850        2,700-2,850

     Rice BPT (100 INR/KG)               3,000-3,200        3,000-3,200

     Rice Parmal (100 INR/KG)        1,600-1,850        1,600-1,850

     Rice Swarna new (100 INR/KG)      2,200-2,450        2,100-2,450

     Rice Swarna old (100 INR/KG)      2,500-2,800        2,500-2,800

     Rice HMT new(100 INR/KG)        3,100-3,600        3,100-3,600

     Rice HMT (100 INR/KG)               3,800-4,200        3,800-4,200

     Rice HMT Shriram New(100 INR/KG)    4,100-4,500        4,100-4,500

     Rice HMT Shriram old (100 INR/KG)    4,500-5,000        4,500-5,000     

     Rice Basmati best (100 INR/KG)    8,200-10,200        8,200-10,200

     Rice Basmati Medium (100 INR/KG)    6,000-7,200        6,000-7,200

     Rice Chinnor new (100 INR/KG)    4,700-4,900        4,700-4,900

     Rice Chinnor (100 INR/KG)        5,500-6,000        5,500-6,000

     Jowar Gavarani (100 INR/KG)        2,200-2,450        2,200-2,450

     Jowar CH-5 (100 INR/KG)        2,500-2,600        2,500-2,600

WEATHER (NAGPUR)  

Maximum temp. 41.0 degree Celsius (105.9 degree Fahrenheit), minimum temp.

29.4 degree Celsius (84.9 degree Fahrenheit)

Humidity: Highest - n.a., lowest - n.a.

Rainfall : nil

FORECAST: Partly cloudy sky. Rains or thunder-showers likely towards evening or night. Maximumand minimum temperature would be around and 43 and 29 degree Celsius respectively.

Note: n.a.--not available

(For oils, transport costs are excluded from plant delivery prices, but included in market prices.)

http://in.reuters.com/article/2015/06/10/nagpur-foodgrain-idINL3N0YW3MJ20150610

NFA-2  assures enough rice supply

 June 10, 2015  By Merlito G. Edale Jr.

SANTIAGO CITY, Isabela, June 8 (PIA) - - The National Food Authority (NFA) here has assured the public of stable rice supply for the coming lean months.Mario Gonzales, regional director, said they have enough buffer stock of rice amid concerns that price of the staple food will increase as the lean harvest season starts in July.“Our rice stocks are enough for local consumers for three months and are enough to stabilize any prize hike in the market,” he said.He added that NFA accredited rice outlets regionwide have also enough rice supply, making rice more affordable for consumers at P27 per kilo for regular milled-rice while P32 per kilo for the well-milled rice.Gonzales urged the public not to waste food especially rice at this time. (ALM/MGE/PIA-2 Isabela)

http://news.pia.gov.ph/article/view/481433730841/nfa-2-assures-enough-rice-supply#sthash.XvvGrUeC.dpuf

Rice crop takes big hit, down 175K acres

Posted: Wednesday, June 10, 2015 12:10 am | Updated: 9:21 am, Wed Jun 10, 2015.

By Andrew Creasey/ acreasey@appealdemocrat.com

About 175,000 acres of rice land is going unplanted this year due to the drought, according to the California Rice Commission.In all, an estimated 375,000 acres will produce the lowest planting since 1991 for the $1 billion industry. The impact will reverberate through local economies and wildlife habitat.This year's estimate represents a 31 percent reduction in acreage, surpassing the 2014 crop that was down 21 percent from the 550,000 acres usually planted in the Sacramento Valley.The estimate is based on a survey of seed sales and is lower than a U.S. Department of Agriculture prospective plantings survey from early March, which put the estimated 2015 rice crop at 408,000 acres.

"The crop might be more than 375,000 acres, but it won't be what it was last year," said Tim Johnson, president and CEO of the Rice Commission.The reduction in the crop could have an economic impact of up to $300 million in lost value, said Eric Houk, an agricultural and nature resource economist and professor at California State University, Chico.The reduction in acreage also sharpens anxiety regarding the amount of habitat that will be available to the 5 million to 7 million ducks and geese that migrate into the Sacramento Valley in the winter."We count on flooded acres of rice for habitat," said Mark Biddlecomb, executive director of the western region of Ducks Unlimited. "If we don't have flooded fields, it could lead to disease outbreaks."

---

Farmers on ‘pins and needles’ about water supply

Rice farmers along the Sacramento River are suddenly uncertain about their water supply after the revelation earlier this month that temperatures in Shasta Lake are higher than expected.

Now, those farmers nervously await word from the State Water Resources Control Board and the Bureau of Reclamation about how those higher temperatures, which are harmful to the federally protected winter-run salmon, could impact their diversions from the river."

We're on pins and needles," said Sean Doherty, a local rice farmer. "I don't know what will happen, and that's the worst part: We're just sitting in limbo."The order from Tom Howard, executive director of the water board, called for a delay in increases to the releases from Keswick Dam and expires today.But there has been no word of a new operations plan for releases from Shasta Lake, and farmers are looking at the possibility of another extension of the order curtailing flows in the Sacramento River, said Lewis Bair, general manager of Reclamation District 108."We told agency folks that their decisions could kill crops and prevent water from being transferred. Let's hope they listen," Bair said.

— Andrew Creasey

http://www.appeal-democrat.com/news/rice-crop-takes-big-hit-down-k-acres/article_033d7c3e-0f3c-11e5-abba-1f705c077342.html

Sacramento Valley Rice Growers in Survival Mode

POSTED 5:58 PM, JUNE 9, 2015, BY LONNIE WONG

SACRAMENTO COUNTY-

Rice growers in the Sacramento Valley just north of Sacramento say the drought has forced them to cut down the size of their crops.“I’ve left out 150 acres of rice out of 600 acres…it’s pretty much survival mode,” said Natomas Basin rice grower Mike Daddow.The California Rice Commission says about 370,000 acres was planted this year, down from 500,00 acres, which is a 32 percent reduction.“For my employees, it is a reduction of not only time of employment for part-time people but over-time, which really affects them,” Daddow said.Chico State Agribusiness professor Eric Houk says less income not only affects rice related business but other segments of the economy in the Northern California.

“As we see lower incomes and less employment opportunities, those individuals will reduce their spending in the economy, as well,” Houk said.Surveys show that most Californians believe that farmers use more than their fair share of water. That may be especially true of rice growers who must flood their fields to plant their crop.But growers like Sean Doherty, who farms rice near Knight’s Landing, says the heavy clay soil in the valley means water doesn’t soak down into the ground.

Instead the water in rice fields, which averages five inches in depth, can be recycled from field to field. At the end of the season it drains back into the Sacramento River.“Water that gets used at the top of the valley will actually be reused three or four times going down through the river,” Doherty said.He says rice uses less water to produce than broccoli and carrots. Still growers have fought the perception battle all during the drought. Right now, they are also treading water business-wise.“You won’t make any money, hopefully if everything goes right, you won’t lose any money, and it’s as if the year never happened,” Doherty said.Daddow does worry that a smaller crop will force buyers to get rice from other producers, and he says it’s tough to attract customers once you have lost them.

Vietnam cuts export price floor of 25% broken rice by 2.9% to $340 tonne

Reported by: `Customs Today Report June 10, 2015

HANOI: Vietnam has cut the export price floor for the 25 percent broken rice by 2.9 percent to $340 a tonne, an industry body said, after the country submitted the lowest price in a rice tender in the Philippines.The new floor came into effect on Monday, the Vietnam Food Association said in a statement seen by Reuters.The Philippines agreed to buy 150,000 tonnes from Vietnam in a tender on Friday and could import additional volumes to avert a potential spike in prices of the staple if adverse weather threatens the local crop.Vietnam, the world’s third-largest rice exporter after India and Thailand, had raised the price floor to $350 a tonne on June 1 before the tender.

http://www.customstoday.com.pk/vietnam-cuts-export-price-floor-of-25-broken-rice-by-2-9-to-340-tonne-2/

Pricey Loans to Blame for Slow Rice Exports: National Bank

BY KANG SOTHEAR | JUNE 10, 2015

The high-interest loans that banks offer to rice millers will likely contribute to the country’s failure to meet its goal of exporting 1 million tons of the crop by the end of the year, the head of the National Bank of Cambodia said Tuesday.Speaking during an investment luncheon at the Raffles Hotel Le Royal in Phnom Penh, National Bank Director-General Chea Serey said the inability of millers to access funds means they cannot buy paddy to process for export.“A lot of our rice millers face difficulties in getting loans from the banks because the banks ask the millers to use their land as collateral,” Ms. Serey said.

 “But the millers say they don’t have land to use as collateral because they just rent or lease it.”Banks, meanwhile, charge exceptionally high interest rates because they consider lending to millers to be high risk, she said.Lun Yeng, secretary-general of the Cambodia Rice Federation, which represents the country’s rice milling and export associations, said banks typically charge between 10 and 12 percent for loans greater than $50,000 and at least 7 percent for loans of $1 million or more. For loans of less than $30,000, microfinance institutions usually charge between 2 and 2.5 percent.

“The point is that millers need revolving funds when they need to buy rice paddy from farmers, while payments from exporters are generally late and their [millers’] collateral is placed at banks at the time they borrowed the money,” he said.Millers also need the money to purchase milling machines and build warehouses, he added.According to Mr. Yeng, rice exports increased by 64 percent in the first five months of the year, compared to the same period last year, totaling 243,025 tons.“The increase in rice exports is because rice was exported to China a lot after a deal was made for Cambodia to supply 100,000 [tons] to the country,” he said.

sothear@cambodiadaily.com

https://www.cambodiadaily.com/business/pricey-loans-to-blame-for-slow-rice-exports-national-bank-85299/

 

FCI still bogged down by excess buffer stocks of rice, wheat

 

On June 1, food grain stocks with the Food Corporation of India usually reach the year’s peak.

By: Sandip Das | New Delhi | June 10, 2015 1:12 am

On June 1, food grain stocks with the Food Corporation of India (FCI) usually reach the year’s peak. This year too they had, but the stocks were still at their lowest level compared to the corresponding periods in the last five years.The FCI had more than 61.8 million tonne  (mt) of grains on June 1,   mostly consisting of rice and wheat. This was still way above strategic reserve norm of 41.1 mt.

The FCI’s grain stocks have dropped to the current level from the record high of 82.4 mt  reported in June  2012.After FCI  virtually winded up wheat procurement drive for the current marketing season by purchasing more than 27 mt from the farmers in the last two months or so, the stock levels have gone up to more than 40 mt at the start of this month, though as per buffer norms, it should have a wheat stock of 27.5 mt onJuly 1.Sources told FE that while the government has continued with the Open Market Sale Scheme  (OMSS) for wheat in non-procuring states after April 1,  the response has not been encouraging so far. Only 14,300 tonne of wheat has been sold to bulk buyers under OMSS through weekly auctions since April 2015.

In the case of rice,  the government agency has stock of 22.6 mt of grain which included rice yet to be received from miller. The buffer stocks norm for July 1  prescribes a rice of stock of 13.5 mt.For the first time since the government launched open market sale of rice in April, only  7,300 tonne of rice has been purchased by grian traders and bulk buyers so far.The High-Level Committee (HLC) for FCI restructuring chaired by former food minister Shanta Kumar in its report earlier this year had observed ‘during the last five years, on an average, buffer stocks with FCI have been more than double the buffer stocking norms, costing the nation thousands of crores of rupees loss without any worthwhile purpose being served.”HLC had stated that the current system is extremely ad-hoc, slow and expensive. “A transparent liquidation policy is the need of hour, which should automatically kick in when FCI is faced with surplus stocks than buffer norms.Greater flexibility to FCI with business orientation to operate in OMSS and export markets is needed,” the committee had observed in its report.

http://www.financialexpress.com/article/markets/commodities/fci-still-bogged-down-by-excess-buffer-stocks-of-rice-wheat/82404/

Lowest rainfall in 30 years prompts RID to tighten reins on Thai rice cultivation

BY EDITORON 2015-06-10THAILAND

BANGKOK, 10 June 2015 (NNT) – The Royal Department of Irrigation (RID) has revealed that the off-season farming has left only 3.8 billion cubic meters of water for agricultural purposes during the May – October period, while rainfall hits a 30-year low.A meeting of the RID’s committee to monitor and analyze the nation’s water management revealed that despite government warnings, more than six million rai of land was farmed in the Chao Phraya and Mae Glong river basins. RID Director-General Lertwirot Kowattana said that agriculture activities during the drought crisis has consumed 1.2 billion cubic meters of water.The four national reservoirs include the Bhumibol Dam, Sirikit Dam, Pa Sak Jolasid Dam, and the Khaew Noi Bamrung Dan Operation and Maintenance Project.

They have a combined 3.8 billion cubic meters left for agricultural use, falling short of the department’s target of five billion cubic meters.Reservoirs continue to sustain the off-season farmland. However, rainfall has been unable to replenish water levels. The RID recorded the lowest rainfall in 30 years.The department has urged farmers of 4.2 million rai that have yet to begin planting rice to cease water consumption for agricultural use for 40 days, and wait for greater rainfall in mid-July.The Ministry of Agriculture and Cooperatives has been instructed to inform farmers across 22 provinces in the Chao Phraya river basin of the government’s water policy.

http://news.thaivisa.com/thailand/lowest-rainfall-in-30-years-prompts-rid-to-tighten-reins-on-thai-rice-cultivation/96212/

Commerce Min. to sell stocked rice to low income earners

ไม่มีรายการภาพ

ไม่มีรายการวีดีโอ                  Date : 10 มิถุนายน 2558

BANGKOK, 10 June 2015, (NNT) - The Ministry of Commerce plans to sell rice in the government's stockpile at affordable prices to low income earners, following Prime Minister General Prayut Chan-o-cha’s instruction. According to General Chatchai, the proposed plan was given the nod by the Cabinet during yesterday’s session, adding that the details of the program would be discussed with the Ministry of Agriculture and Cooperative, the Ministry of Interior, and the National Council for Peace and Order on Friday. Initially, the Commerce Ministry would be tasked with selecting quality grain from the government warehouses before sending it to the Ministry of Agriculture and Cooperatives to find manufacturers to process the rice. Then, the Ministry of Interior will be in charge of selling the packed rice, with priority being given to low income earners , said Gen. Chatchai.

http://thainews.prd.go.th/centerweb/newsen/NewsDetail?NT01_NewsID=WNECO5806100010004#sthash.CGhanIkd.dpuf

Pakistan wheat surplus to cool imports this year - trader

* Oilseed imports expected to rise-Bombi's Group

* Pakistan looking to Iran market for its rice

By Jonathan Saul

LONDON, June 10 (Reuters) - A wheat surplus in Pakistan is likely to mean little appetite for imports this year, although it will purchase more oilseeds due lower crop prospects, a leading local trader said.In November last year, Pakistan imposed a 20 percent import duty on wheat to help protect local farmers from imports, leading to the cancellation of some of the import deals.

Anis Majeed, chairman of Karachi-based food commodities firm Bombi's Group, said Pakistan was estimated to produce 25 million tonnes of wheat this year versus around 24 million tonnes last year. Domestic wheat consumption was pegged around 22-23 million tonnes, he said."This year, Pakistan will not make big imports because we have the crop and there is a surplus," Majeed said on a visit to London this week.The International Grains Council estimated Pakistan's wheat production in the 2015-16 year at 25.0 million tonnes, versus 25.5 million tonnes in 2014-15.In contrast, Pakistan was expected to import higher quantities of oilseeds including canola, said Majeed, who is also chairman of the wholesale grocers' association of Karachi, which is Pakistan's mercantile capital."If you calculate (oilseeds) ... altogether this year, we are expecting to import about 1.5 to 1.6 million tonnes," he said.

"Last year was a little less - about 1.2 million tonnes and our crop was better than this year."Majeed said Pakistan expected a good rice crop although exports were likely to be tempered by slower demand."Pakistan's production is around 6.5 million tonnes annually - out of which 3.5 million tonnes we export," he said."Prices have come down as the international market has come down," he added. "Therefore, there could be a little less (exports) this year."Majeed said rice exporters were looking to boost sales to Iran, a major consumer of Basmati grade rice.Iran and six world powers are seeking to overcome remaining differences with a looming self-imposed June 30 deadline to reach a deal over Tehran's disputed nuclear programme. The timing of sanctions relief for Iran are among the disputes holding up a nuclear accord.

Majeed said there was already a border trade between Pakistan and Iran for rice - with the business handled by local merchants along the border. A nuclear deal could enable other exporters in Pakistani cities such as Karachi and Lahore expanding business."Iran can be good partner of Pakistani rice and trade can be increased. But there are few difficulties of the embargoes," he said.Majeed said a proposed wheat barter deal between Pakistan and Iran was still being discussed.The deal, initially agreed in 2012, was to involve Tehran exporting fertiliser and iron ore to Pakistan in exchange for wheat."The swapping ... has not been decided as yet," he said. "They are working on it.

 (Editing by William Hardy)

http://www.reuters.com/article/2015/06/10/pakistan-grains-idUSL5N0YW2FM20150610

 ‘Negros has rice oversupply'

BY PEACE S. FLORES

“We have an oversupply of rice in Negros,” Jesus Jimenez of the Negros Occidental Farmers and Rice Millers Multi-purpose Cooperative, said yesterday.Due to the rice oversupply in the province, the wholesale and retail prices of rice have gone down this year compared to 2014, said Jimenez, who chairs the rice millers division of NOFARIMCO.Wholesale prices per sack went down by P200 to P400 and retail prices by P2 to P4 per kilo, Jimenez said.Jimenez said that the main reason for the oversupply was the rise in rice production in this year's third crop, NFA's importation, and the abundance of imported rice entering the market through private retailers.

Prices of palay have also dropped resulting in cheaper rice, Jimenez said.Consumers may benefit from this oversupply, but local rice farmers are suffering from lower profits, Jimenez added.The NFA should minimize the release of its rice stocks during harvest time, and regulate importation of rice from other countries and provinces, he added.*PSF

http://www.visayandailystar.com/2015/June/11/businessnews2.htm

Won’t sell basmati rice at low rates, says millers’ body

Tribune News Service

Muktsar, June 10

Basmati rice millers today jointly decided that they would not sell “steamed” basmati rice at a rate lesser than Rs 6,500 per quintal and “sella” basmati rice lesser than Rs 5,200 per quintal.The rice millers said earlier, they were selling steamed basmati rice at Rs 4,350 per quintal and sella basmati rice at Rs 4,300 per quintal but suffering huge losses.They have also decided to meet Food and Civil Supplies Minister Adaish Partap Singh Kairon tomorrow to seek a strategy for basmati sowing and its consumption.

Ashish Kathuria, a spokesperson for Punjab Basmati Rice Manufacturers’ Association, said, “It has been observed that the area under the basmati cultivation has increased in the state in the recent past. However, the decline in price has been proving to be a huge threat to the millers. Farmers as well as the major importers and exporters are exploiting the millers by buying the shelled rice at Rs 4,000 per quintal. However, last year, the price remained Rs 8,500 per quintal.”He added, “We do not want to decrease the area under this crop but if we do not take some measures, the price of basmati paddy 1121 will go even lower than Rs 1,800 per quintal and this will affect farmers adversely.”Meanwhile, the Punjab Basmati Rice Manufacturers’ Association also decided to meet Prime Minister Narendra Modi to seek interest-free loan to the industry for its survival.

http://www.tribuneindia.com/news/punjab/won-t-sell-basmati-rice-at-low-rates-says-millers-body/92387.html

A Nobel laureate's sexist remark sparks a conversation about bias against women in the sciences

A scientist prepares to scan a root inside a laboratory at the International Rice Research Institute in the Philippines.

Credit: 

Cheryl Ravelo/Reuters

A sexist remark by Nobel laureate Tim Hunt provoked a swift reaction from scientists — men and women alike — around the globe.

  

This story is based on a radio interview.Listen to the full interview.

Later Hunt offered an apology, but by then the discussion had taken off, and it was no longer just about the 72-year-old self-described chauvinist.  "Of course, I was disappointed that even today we're still seeing these sorts of entrenched biases toward women," says Dr. Heather Metcalf, director of research and analysis with the Association for Women in Science. "His comments show that even with the best of intentions, that people carry around biases that influence their attitudes and behaviors towards one another."  Metcalf — who directs, coordinates and performs research and analysis surrounding gender and the science, technology, engineering, and mathematics (STEM) workforce — says there is a large body of research that shows the impact of unconscious bias on the sciences.

"There are many examples, from hiring to promotion and tenure, to awards allocations, to individual behaviors towards one another, to the culture and climate within our workplaces, to resource allocation and writing of recommendation letters, evaluation and analysis of CVs and other kinds of materials, and teaching evaluations — how students evaluate professors in the classroom. Bias is pretty pervasive."But Metcalf sees some progress in overcoming bias in the sciences. "For example, through our awards project that we've been engaging with at AWIS, we see that women are receiving more awards. owever, the way that bias works is that we have expectations of people about gender, and what kinds of roles they should be satisfying, and then also [expectations] about scientists, and what kinds of things are valued when we think of scientists.

"Here's how it plays out. "Women receive disproportionate numbers of teaching, service, sort-of 'helping' awards," observes Metcalf, "because that's more in line with the gender role expectations that we have for women." At the same time, Metcalf notes, women receive lower numbers of scholarly and research awards. "They're not being valued as much for their intelligences, and instead are being recognized for their communal work, or the 'helping' work that they are doing."Sir Tim Hunt's remarks, and his apology, provided a teaching moment. "While he owns that he may be a chauvinist or engaging in chauvinistic attitudes," says Metcalf, "he doesn't really see why that's problematic. And that's why I'm saying that it's important to focus on the larger system and see how that has a broader impact on the kinds of work that can be done, and the kinds of people that can be doing that work."

http://www.pri.org/stories/2015-06-10/nobel-laureates-sexist-remark-sparks-conversation-about-bias-against-women

World Rice Production

2015/2016

June 2015

This month the United States Department of Agriculture (USDA) estimates that the World Rice Production 2015/2016 will be 481.74 million metric tons, around 0.36 million tons less than the previous month's projection.

Rice Production last year (*) was 476.13 million tons. This year's 481.74 estimated million tons could represent an increase of 5.62 million tons or a 1.18% in rice production around the globe.

Rice Production by Country

(Values in Metric Tons)

China: 146,000,000

India: 104,000,000

Others: 40,440,000

Indonesia: 36,650,000

Bangladesh: 35,000,000

Vietnam: 28,200,000

Thailand: 19,800,000

Burma: 12,800,000

Philippines: 12,400,000

Brazil: 8,000,000

Japan: 7,900,000

United States: 6,954,000

Pakistan: 6,900,000

Cambodia: 4,900,000

Egypt: 4,600,000

Korea, South: 4,100,000

Nepal: 3,100,000

Next Update will be July 10, 2015.

https://www.worldriceproduction.com/?Referer=Newsletter

USA Rice and Coalition Urge COOL Reform

 OTTAWA, CANADA - USA Rice joined 108 other agriculture and food businesses on a letter to Member of Congress today urging support for H.R. 2393, a bipartisan bill to reform the controversial Country of Origin Labeling (COOL) regulations. The World Trade Organization (WTO) has consistently ruled against the United States on the COOL regulation, most recently on May 29, paving the way for legal tariff retaliation by Canada, Mexico, and other countries.

The Canadian government here issued a preliminary list of targeted commodities and foods, and rice is at the top with a 100 percent tariff threatened."If Congress doesn't fix COOL to bring it into compliance with our international obligations, the cost to American business will be staggering, and the rice industry could take a significant hit," said Betsy Ward, President & CEO of USA Rice. According to the coalition letter, retaliatory tariffs could total more than $3.5 billion in just the first year. A vote on the bill, the Country of Origin Labeling Amendments Act of 2015 is expected in the House this week.  The Senate is yet to act on the issue.Canada is the fourth largest market for U.S. rice, with imports last year valued at $185 million.

 Contact: Michael Klein (703) 236-1458

USA Rice takes messages to the sky

50,000 Foot View of Rice from 35,000 Feet!

FORT WORTH, TX - Passengers on American Airlines and Frontier Airlines will be able to learn a lot about rice this summer thanks to a unique partnership between USA Rice and the airlines.The U.S. rice industry is being highlighted by Talk Business 360, the service that produces original programming for the airlines. The two and a half minute video gives viewers a quick primer on the rice industry - including where rice is grown, how much is exported, and how efficient and environmentally responsible U.S. rice farmers are.

The video also includes interviews with Arkansas growers Jennifer James and Joe Rennicke and Louisiana's Kevin Berken.The video will air on American Airlines on demand in First and Business Class, and be available online as well. With only one cabin class on Frontier, the video will be one of several playing for all passengers prior to take-off, and then be available to passengers on demand in flight. The USA Rice video is expected to reach more than 750,000 passengers this summer.

 Contact: Michael Klein (703) 236-1458

WASDE Report Released

WASHINGTON, DC-- U.S. rice 2015/16 supply and use balance sheets are little changed from last month. All rice beginning stocks are raised 2.5 million cwt with long-grain rice stocks raised 0.5 million, and medium- and short-grain stocks raised 2.0 million. All rice imports are raised 0.5 million cwt to 25.0 million (all long-grain), up 2 percent from revised 2014/15. Medium- and shortgrain exports are raised 2.0 million cwt to 34.0 million as a large outstanding sales balance to Northeast Asia in 2014/15 will likely be shipped in 2015/16. The large balance was caused in part due to work slowdowns and stoppages at ports along the West Coast earlier this year. This labor dispute has since been resolved, but a large backlog at the ports still exists. Additionally, Turkey has not accepted some U.S. medium-grain rice shipments in 2014/15 for phytosanitary reasons in recent months. The long-grain export projection is unchanged at 76.0 million cwt, but up 4 percent from the previous year. Long-grain ending stocks for 2015/16 are raised 1.0 million cwt to 35.1 million, up 23 percent from 2014/15, and the largest since WASDE-542-3 2010/11. Medium- and short-grain ending stocks are forecast at 11.0 million cwt, unchanged from last month, but 24 percent below the previous year's revised estimate. The U.S. 2015/16 long-grain rice season-average farm price is projected at $10.00 to $11.00 per cwt, unchanged from last month compared to $11.90 to $12.10 for the previous year. The combined medium- and short-grain price is unchanged at $17.80 to $18.80 per cwt compared to $17.80 to $18.20 for the year earlier. The 2015/16 all rice price is projected at $12.30 to $13.30 per cwt, compared to $13.20 to $13.60 per cwt for 2014/15. The California and Other States medium-and short-grain prices are unchanged from last month. Global 2015/16 rice supply and use is little changed from a month ago. Global rice production is projected at a record 481.7 million tons, 0.4 million below a month ago. Brazil's rice crop is forecast at 8.0 million tons, down 0.3 million from last month, a result of a reduction in area. This crop will not be planted until October-December 2015. The change is based mostly on a reduction in the 2014/15 rice crop based on recent estimates from the government of Brazil. Global consumption is nearly unchanged at a record 489.0 million tons. Global 2015/16 trade (imports and exports) are also nearly unchanged from a month ago. World export projections are raised slightly for Guyana and the United States. Global ending stocks are forecast at 91.4 million tons, down slightly from last month, down 7.2 million from the previous year, and the smallest stocks since 2007/08. The global stocks-to-use ratio at 18.7 percent is unchanged from a month ago, but down 1.7 points from the previous year, and the lowest since 2006/07. Read the complete report here.

CCC Announces Prevailing World Market Prices 

WASHINGTON, DC --The Department of Agriculture's Commodity Credit Corporationtoday 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 2014 crop, which will become effective today at 7:00 a.m., Eastern Time (ET). Prices are unchanged from the previous announcement. World Price MLG/LDP Rate Milled Value ($/cwt) Rough ($/cwt) Rough ($/cwt) Long-Grain 14.93 9.67  0.00 Medium-/Short-Grain 14.55 9.80  0.00 Brokens   9.01 ---- ---- This week's prevailing world market prices and MLG/LDP rates are based on the following U.S. milling yields and the corresponding loan rates: U.S. Milling Yields Whole/Broken (lbs/cwt) Loan Rate ($/cwt) Long-Grain 57.21/12.55 6.64 Medium-/Short-Grain 61.89/8.83 6.51 The next program announcement is scheduled for June 17, 2015.

CME Group/Closing Rough Rice Futures

CME Group (Prelim):  Closing Rough Rice Futures for June 10 Month Price Net Change July 2015 $9.870  - $0.110 September 2015 $10.150 - $0.105 November 2015 $10.415 - $0.100 January 2016 $10.675 - $0.095 March 2016 $10.875 - $0.090 May 2016 $10.875 - $0.090 July 2016 $10.875 - $0.090

Loss of international rice market

June 10, 2015

RECORDER REPORT

It is somewhat odd to highlight the dwindling exports of the country and moan about their trend when the government is bent upon taking credit for the increase in foreign exchange reserves and stability in the exchange rate without a proper analysis of the factors behind such positive developments. However, some exporters, of late, seem to be voicing their concerns about the prevailing unsatisfactory conditions. President, Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain, for instance, has demanded of the government to bail out the sinking rice sector otherwise the country may lose export market to India. Pakistan exports rice, worth over two billion dollars per annum, but has been losing the export market for the last two years, landing over one thousand rice mills into serious problems and risking millions of jobs in this critical sector. Highlighting problems of rice growers and rice mills in the country, President, Pakistan Rice Mills Association, Mukhtar Baloch also reiterated that the situation is turning against Pakistan and in favour of India which has introduced its own brands.

He revealed that 3,000 rice mills are facing problems and more than 1000 mills are on the verge of collapse that have failed to sell rice during the past two years. 0.35 million of rice bags are lying unsold in only one district and mills are unable to repay loans, adding to increased interest on past loans. During the current Kharif season, farmers are reluctant to sow rice as they are not getting a fair price of their produce which would put the future of rice industry and agriculture sector at stake. The observations of traders associated with rice exports would seem to be a very fair commentary on the current market conditions of an important export item of the country which has the potential to raise the value of overall exports significantly and contribute a lot to the expansion of economic activity and job creation.

However, most of the recent developments indicate very clearly that Pakistan has failed to avail the opportunity and missed the chances of expanding rice exports for one reason or the other. Rice accounted for 11.3 percent of the total exports of the country in 2009-10 but its share fell to only 7.6 percent by FY14. The situation in FY15 is also not likely to be much different due mainly to a negative price effect in the international market. In fact, overall exports of the country are also performing very poorly this year. Value of exports were targeted to grow by 5.8 percent to reach dollar 27.0 billion during 2014-15 due mainly to the grant of GSP Plus status, a likely improvement in the energy supplies and an increase in trade with regional partners. However, exports have already declined by as much as 5.0 percent during July-April, 2015 compared to the corresponding period last year and such a dismal trend should give sleepless nights to policymakers of the country who still remain unfazed about the emerging situation.

The report of trading charges between the Finance Minister and the Minister of Water and Power in this newspaper on 8th June, 2015 over the impact of energy supplies on the industrial sector in a meeting chaired by the Prime Minister is of course unfortunate. The entire government machinery, in our view, should jointly devote its energies towards enhancing energy supplies, spurring industrial growth and accelerating exports so that the country could generate its own resources to pay for the imports and eliminate its dependence on the IMF. However, while the exporters are right in asking the government to re-evaluate its export policy framework, the businesspeople are also required to improve their performance to compete in a highly complex international market.

Of course, energy supplies and law and order situation have to be improved, a conducive taxation and customs regime has to be provided and overvaluation of the Pak rupee should be corrected but there is no reason for exporters to be complacent about the developments in the world markets and always look to the government for support. It is hard to understand, for instance, why Pakistani exporters cannot compete effectively and have an edge over Indian exporters, when Pakistani rice and mangoes are rated relatively superior in quality in the international market. Latest market technologies and imaginative ways could make a difference in attracting foreign buyers and raising the sales of exportable items. A decline in exports this year is such a bad news that all the relative stakeholders need to ponder over this unfortunate development at the earliest. 

http://www.brecorder.com/editorials/0:/1194537:loss-of-international-rice-market/?date=2015-06-10

Balochistan CM inaugurates Pakistan-Iran cargo train

 

* Dr Abdul Malik says business community of Balochistan would be major beneficiary of goods train

June 10, 2015 

   

QUETTA: Balochistan Chief Minister Abdul Malik Baloch on Tuesday inaugurated Pak-Iran goods train.The train would ply between Quetta and Iranian city of Zahidan once a week.Pakistan Railways Chairwoman Parveen Agha, Balochistan ministers Sardar Raza Baraich, Abdul Raheem Ziaratwal, Nawab Muhammad Khan Shahwani, Home Secretary Balochistan Akbar Hussain Durrani, CCPO Abdul Razzaq Cheema and senior PR officials were present.

The CM said that business community of Balochistan would be major beneficiary of Quetta-Zahidan goods train.“We request Federal Minister for Pakistan Railways Saad Rafique to make Quetta-Taftan railway track fast by making it enable for increasing train speed from 40 km per hour to 120 km per hour,” he said.He said that the provincial government has already submitted a proposal to the federal government to restore Sibi-Harnai railway track.

He recalled that he himself has travelled by train for several times when he was a student. “Twenty to thirty years back, travelling by train was very enjoyable but later, decline started to be reported in Pakistan Railways,” he said.Paying tributes to the federal minister for railways, he said, “Saad Rafique is captain of Pakistan Railways who made hectic efforts to bring improvement in railways system”. He said that Balochistan needed a better Railways transport system.Earlier, Parveen Agha said that train was operational between Quetta and Taftan once a month to provide ration, water and salaries to the employees and carrying out postal service.“On the directives of the federal government, we decided to start good train between Quetta and Zahidan once a week in order to promote trade between Pakistan and Iran,” she said adding that more trains would also be run on this route.

Railways Quetta Division DS Mir Faiz Bugti said there were several problems on Quetta-Taftan route, adding that the PR Ministry, however, took a better decision to start goods train on this route to meet the demand made by traders community.He further said, “We welcome the Federal Minster for Railways’ decision to give Hard Area Allowance to railways employees.”On Monday, Federal Minister for Railways Saad Rafique had said that the train composition would consist of 24 freight vans which would be extended up to 40 vans in the future and the train would transport rice and other goods from Pakistan to Iran while it would bring sulphur, coal and other chemicals from Iran to Pakistan.

He had said the train would bring 2,000 litres of oil from Iran initially which would be increased up to 5,000 litres in future as the price of oil was about Rs14 to 15 per litre in Iran, adding the train would be able to manage its expenses through this fuel.The minister had also said Pakistan had informed Iran and Turkey that PR was ready to operate the Economic Cooperation Organisation (ECO) train as soon as it receives green signal from these countries.He informed media that the PR was now out of “ICU” and it was running purely on Pakistan Railways model. 

 

http://www.dailytimes.com.pk/national/10-Jun-2015/balochistan-cm-inaugurates-pakistan-iran-cargo-train

Supplements and fine-tuning your child’s diet can cure allergy

Analysis show the infants who were having less commercially produced foods were less likely to develop an allergy by age two. PHOTO | FILE 

In Summary

·         An extreme elimination diet, especially for a child, is gruelling, but that is the route we needed to go in Melissa’s case. In addition to a few supplements to heal her gut, we started Melissa on a diet of bone soup, stewed vegetables and brown rice (the bone soup was made by boiling goat bones for 72 hours and extracting the marrow). Tiny Melissa was just eight when she came to see me. I say tiny because she was: not just in stature (she was painfully skinny), but in her demeanour too (she was like a small mouse).

Melissa suffered from various allergies.Generally, allergies are not life-threatening. For Melissa though, they were. The last time she had a little peanut, her throat swelled up and she had to be rushed to hospital, otherwise she would have chocked to death. Her last encounter with eggs left her covered with fluid-filled boils all over her body.However, her parents didn’t’ bring her to see me because of these reactions; rather, they brought her because there was little that Melissa could eat.In addition to her egg and peanut allergy, Melissa also couldn’t tolerate beef, beans, peas or lentils.This meant that her daily diet was restricted to chapatti, rice, chicken, potatoes, cabbage and bananas.Even with larger quantities of food, Melissa simply was not putting on weight. What was going on?

EXTREME ELIMINATION

The first thing that we discovered during the course of the consultation was that Melissa often suffered from diarrhoea – she went three or four times a day and passed a fairly watery consistency.This meant that something in the short list of foods she had been eating was irritating her gut. This helped to explain why she found it difficult to absorb nutrients from her food and put on weight.An extreme elimination diet, especially for a child, is gruelling, but that is the route we needed to go in Melissa’s case. In addition to a few supplements to heal her gut, we started Melissa on a diet of bone soup, stewed vegetables and brown rice (the bone soup was made by boiling goat bones for 72 hours and extracting the marrow).Over the course of the next few weeks, her stool began to firm up, and she started going only once a day.

Her energy also increased.As the weeks went by, we added cooked green grams (soaked overnight) with basmati rice and ghee, all of which Melissa was able to tolerate.To replenish her gut bacteria, we added a little whey (the water that separates when you make yoghurt). Next, we added a little well-boiled liver.Six weeks after starting the treatment, Melissa was invited for a birthday party, where she ate a piece of the birthday cake. Her mother was prepared for the worst, but the only reaction was her face swelling up slightly. Recovery was well underway.

Next came the introduction of egg. We started with a little egg yolk (this is less allergenic than egg white), then the whole egg yolk, and then after a couple of weeks, we tried the egg white.Now, Melissa is able to handle proteins much better than she used to. Her mother has also noted that a stubborn ringworm on Melissa’s scalp is also starting to clear up.Beef is next on our list, followed by tiny amounts of peanuts. While peanuts can be mostly avoided, our goal is to ensure that Melissa doesn’t have an adverse reaction should some of her food contain peanuts.

Daily Nation

 

Rice Leadership Program accepting applications

 

The Rice Leadership Development Program provides a comprehensive understanding of the rice industry, with an emphasis on personal development and communication skills.

By USA Rice Federation

Posted Jun. 9, 2015 at 3:27 PM 

STUTTGART —

The Rice Foundation is accepting applications for the 2016 Rice Leadership Development Program. Rice producers or industry-related professionals between the ages of 25 and 45 are eligible to apply for the program. The application deadline is Oct. 3.The Rice Leadership Development Program provides a comprehensive understanding of the rice industry, with an emphasis on personal development and communication skills. During a two-year period, class members attend four one-week sessions designed to strengthen leadership skills through studies of all aspects of the rice industry.

The class is comprised of five rice producers and two industry-related professionals chosen by a committee of agribusiness leaders. The committee evaluates the applications of all candidates, reviews letters of recommendation, and conducts personal interviews with the finalists. Interviews will be conducted at the USA Rice Outlook Conference in New Orleans, Louisiana, in December.Additional information on the Rice Leadership Development Program and an application form can be found on the USA Rice website.

http://www.stuttgartdailyleader.com/article/20150609/NEWS/150609617/-1/Opinion

Amira Nature Foods - Friend Or Foe?

Jun. 9, 2015 4:49 AM ET  | 

Summary

A growing company in a growing market with growing demographics and a low PE of 7.9.

Price growth same as for competitor KRBL (from 24.05 to 178.9 INR in 2 years).

Also expanding in premium markets like US and UK.When you see a company with revenue CAGR of 28.3%, EBITDA CAGR 36.6% and EPS CAGR of 61.5% in the last 2 years and attach to it a PE ratio of 7.9, you immediately ask yourself what is the catch. The goal of this article is to uncover the catch and make an estimation of the possible effects of this catch on Amira Nature Foods Ltd (NYSE:ANFI) in the long term.

 

About Amira

ANFI is a major international producer of packaged food, Indian specialty Basmati rice with sales in over 60 countries. It generates the majority of its revenue through the sale of Basmati rice, a long-grain rice grown only in certain regions of the Indian subcontinent, selling its products, primarily in emerging markets, through a distribution network.Looking at what the CEO Mr. Karan A. Chanana has to say about Amira's successes and failures, it is clear that he has delivered on most of his statements in the past. In January 2013, when Amira's brand was selling in 40 countries, he estimated that it will sell in 70 countries by 2017.

Today, the brand has already reached sales in 60 countries. There have been some delays in certain projects like the debt issue where the attempted offering of $225 million Senior Secured Second Lien Notes due in 2020 failed because of a short-selling attack by Prescience point research. Consequently, the building of the new processing factory that would have enabled even faster future growth was delayed. But the business model of Amira as it is now is working pretty well and the earnings are growing. The company is expanding globally and last year increased its revenue by 35%. Also a development that has worked was the increase of up to 15 distribution centers in India to exploit the promising demographics and economic development in India. If we estimate future projections like the goal of reaching 1 billion in revenues through the analysis of past projections, we can be very confident in the current management team.

 

Possible catches - the cheapness of the Amira stock

As it is not an US company, investors find it difficult to trust a business from another part of the world. It is very difficult to call your mate from college and ask about the building of some distribution centre in north India. On the other hand, we can simply walk into department stores and see the rice they sell. For me, those are stores like Tesco, Asda, Waitrose and Morrison in the UK and for US readers it should be Costco (NASDAQ:COST) with new additions coming month by month. This research aims to show that unfamiliarity can be a great play for investors.

The second issue is the financing problem that arose after missing the bond issue because of a short-seller attack a few months ago.

This was quite unfortunate for Amira because of the relatively high interest rates in India, but nothing that deteriorated the current situation that is very positive by itself. The way Amira does business now by financing operations through a consortium of Indian banks works pretty well, so a future possible lowering of the interest rate would only be beneficial.The third issue that is also related to the second one is the continuous delays in finishing the new factory because of lack of financing. The CEO promises updates on finishing factory in the next quarterly presentation. The new factory would only improve the growth possibilities and future outlook for Amira.The forth possible issue is the expected growth of the rice crop 2015 that will impact volume, thus lower prices.

 Also not such a bad thing because the consumer will get a better price and Amira will have the opportunity to increase the margins and pass some of the price decreases to its customers.The fifth issue is that the organic product is still not on US shelves. Here it has to be said that the business model of Amira involves an aging process of more than 12 months, so it takes time for the new product lines to reach its customers. It is understandable that Wall Street would like everything immediately, but this gives the opportunity to more patient investors to buy a gem in the making, and let it age to grasp all the flavors by letting it become older and better (the rice and also the stock).

The CEO announced the organic product line on US shelves by the end of this year.The sixth issue could be the possible diminishing demand from Middle East countries because of lower oil prices and thus lower purchasing power. Amira wants to be a global player, and partly already is one, so geographical diversification lowers specific geographical risks.The seventh reason can be the very extensive global growth plans that might be overstretching the possibilities of Amira and putting more risk, but 27 million of cash with 20 million more of available financing plus negotiations for more finances should help, and a low debt-to-equity ratio makes this an unlikely risk (Total debt/LTM adj. EBITDA = 2.0x).

A financial crisis that would hit the eastern markets might shake a little bit its financial position, but again, with the growth going on in Asia, it is something unlikely to happen. The competitor KRBL expects rice market volume to grow at a CAGR of 7% in India for the coming years.The eighth reason can be that Amira is developing a brand strategy. You probably know of places where the atmosphere is nicer, the coffee is better and much cheaper than at Starbucks (NASDAQ:SBUX), but the brand is what attracts people to it. Amira is trying to create that feeling in the premium Basmati rice growing segment. If it succeeds, we have in our hands a stock that might be the one that we will be telling stories to our grandchildren. If it does not succeed in creating a worldwide famous rice brand, it will probably be bought out by a large corporation at a nice premium. So for the long-term investors, there is a win-win situation with low possible downside risks at the current pricing.

 

Comparison with KRBL

KRBL is the world's largest rice miller and Basmati rice exporter. The company is quoted on the NSE (Indian National stock exchange) and BSE (Bombay stock exchange). It operates in the same market as Amira but without the global focus. The growth of the two companies has been almost the same that can be seen in the following table. Here we have also to take into account that the accounting currency for KRBL is the Indian Rupee and for ANFI the US dollar. The depreciation of 18.9% in the period from January 2011 till December 2014 of the Indian Rupee in relation to the US dollar makes ANFI's numbers look even more impressive.

Table 1. Growth comparison ANFI and KRBL

Source: ANFI and KRBL investor presentations. Data for KRBL is in thousands of Lacs and data for ANFI in million USD.

But looking at the graph that compares the stock prices of ANFI and KRBL since the quotation of ANFI on the NYSE, we can see the same pattern up to February 17, 2014 which was the high point of ANFI. After that, with only good news from the company, beating estimates with growing revenues and earnings, the stock has not been the investors' favorite on the NYSE. For KRBL, which is an Indian company quoted in India, the story is completely different where the stock price has followed the developments in the business. It can be assumed that the same will happen for ANFI, so now is a great opportunity to buy at this bargain prices.

Graph 1. Comparison of stock price movement ANFI and KRBL

Source: yahoo.com/finance

Conclusion

It is our opinion that all the possible risks are already calculated in the price and also overestimated. Thus for now, we expect

Farmers urged to delay crops

 

Rice planting would 'deplete water supply'

10 Jun 2015 at 03:30

NEWSPAPER SECTION: NEWS | WRITER: APINYA WIPATAYOTIN

The government "urges" rice growers not to plant for at least six weeks because of what it claims is unusually low rainfall in the Chao Phraya River basin. (File photo by Chanat Katanyu)

The Department of Royal Irrigation has urged rice farmers in the Chao Phraya River basin to delay planting their crops due to water shortages. The department said crop plantations should be delayed until the middle of next month due to unusually low rainfall.The department says water reserves are sufficient for only the next 40 days.It also called on consumers to conserve water to prevent more serious shortages.

Department chief Lertviroj Kowattana said experts have tweaked the water management plan along the basin by reducing the amount of discharge from 57 million cubic metres per day to 30 million to 35 million cubic metres, due to lower than expected water storage levels in the four main dams − Bhumibol dam in Tak province, Sirikit dam in Uttaradit, Kwae Noi Bamrung Dan dam in Phitsanulok, and Pasak Jolasid dam in Lop Buri.He also insisted there was enough water stored for the public's daily consumption, meeting the ecological system's needs, agriculture and industrial activity.But it would not be enough if the agricultural zone increased more than 2.8 million rai in the rainy season."There is only enough water for the current plantation zone. We can not supply more water if there are more plantations," Mr Lertviroj said."We want farmers to cooperate with us by helping conserve water. They should avoid increasing crop zones as we only have enough water for use for 40 days," he said, adding he would ask for cooperation from the military to help farmers better understand the situation.

Mr Lertviroj said the dams will not discharge any more water after 40 days as they need to keep water at sensible levels.However, Mr Lertviroj believed normal levels of rain would start falling in the middle of next month.According to the department, the amount of rainfall last month, when the rainy season started, was 260 millimetres, or 30% lower than the 30-year average amount of 396.6mm in the same period.  Meanwhile, rainfall in the North last month was 47% lower compared with the same period last year and rainfall in the Central Plains was 45% lower.This has resulted in less water reserves in the four dams, particularly Bhumibol and Sirikit.

When officials checked Tuesday, usable water storage in Bhumibol dam was 457 million cubic metres, or only 3% of usable capacity, and water storage in Sirikit dam was 831 million cubic metres or only 9% of usable capacity."We will have no secondary plan if there is no rain after the 40 days expire but we are confident rain will return to normal levels after July," Mr Lertviroj said.Department of Meteorology spokesman Boonthum Tanglumlert said the full extent of the rainy season is expected to be known next month and August.He said there might be only one storm this year, compared with an average of three monsoon storms annually during the rainy season in previous years.

NCPO orders cheap rice for the poor

10 Jun 2015 at 08:00 947 viewed1 comments
NEWSPAPER SECTION: NEWS | WRITER: POST REPORTERS

The National Council for Peace and Order (NCPO) has ordered the sale of cheap rice to low-income people nationwide to help cut their cost of living.The order came at a joint meeting between the NCPO and the cabinet on Tuesday, chaired by Prime Minister Prayut Chan-o-cha, NCPO spokesman Winthai Suvaree said.The NCPO instructed state agencies to arrange the sale of cheap rice possibly at community cooperative shops and military camps, he said.

Prayut: Concerns over political activities

Aside from helping low-income earners, the sale of cheap rice could also help strengthen the community-level economy, Col Winthai said.Col Winthai was also asked about predictions of a water crisis, with many dams and reservoirs storing lower-than-usual levels of water.The NCPO would launch a campaign to raise awareness about the importance of using water sparingly, he said.Col Winthai said Gen Prayut had also expressed his concerns over students carry¬ing out political activities.Security authorities had tried to avoid taking legal action against the activists because they are young people whose future might be affected if they are prosecuted.The students have been warned and released previously without facing any legal action, he said.But since they appeared to ignore the authorities' "good intention" and continue to repeat their misconduct, Gen Prayut said more "suitable" measures would have to be taken against them instead, Col Winthai said.The NCPO spokesman also relayed Gen Prayut's message to the parents, saying if they again fail to improve their children's understanding about obeying the law, the authorities would be left with no choice but to take legal action.Get full Bangkok Post printed newspaper experience on your digital devices with Bangkok Post e-newspaper. Try it out, it's totally free for 7 days.

APEDA NEWS (India)

International Benchmark Price

Price on: 10-06-2015

Product Benchmark Indicators Name Price Apricots 1 Turkish No. 2 whole pitted, CIF UK (USD/t) 5975 2 Turkish No. 4 whole pitted, CIF UK (USD/t) 5375 3 Turkish size 8, CIF UK (USD/t) 4375 Raisins 1 Californian Thompson seedless raisins, CIF UK (USD/t) 2620 2 South African Thompson seedless raisins, CIF UK (USD/t) 2278 Sultanas 1 Australian 5 Crown, CIF UK (USD/t) 2967   2 Iranian natural sultanas (Gouchan), CIF UK (USD/t) 1792 3 Turkish No 9 standard, FOB Izmir (USD/t) 2058 Source:agra-net For more info

Market Watch Commodity-wise, Market-wise Daily Price on 10-06-2015 Domestic Prices Unit Price : Rs per Qty Product Market Center Variety Min Price Max Price Jowar(Sorgham) 1 Amreli (Gujarat) Other 1000 3000 2 Solapur (Maharashtra) Other 1580 2000 3 Kota (Rajasthan) Other 1411 1411 Maize 1 Amreli (Gujarat) Other 1250 2370 2 Bellary (Karnataka) Local 1268 1345 3 Kota(Rajasthan) Other 1121 1290 Grapes 1 Abohar (Punjab) Other 1000 2000 2 Thodupuzha(Kerala) Other 2500 2700 3 Nagpur(Maharashtra) Other 2500 4000 Carrot 1 Attingal (Kerala) Other 3400 3800 2 Nilagiri (Orissa) Other 2400 2600 3 Akluj(Maharashtra) Other 2500 4000 Source:agra-net For more info

Egg Rs per 100 No Price on 10-06-2015 Product Market Center Price 1 Pune 400 2 Chittoor 398 3 Hyderabad 362 Source: e2necc.com

Other International Prices Unit Price : US$ per package Price on 10-06-2015 Product Market Center Origin Variety Low High  Onions Dry Package: 50 lb sacks 1 Atlanta California Yellow 23 23 2 Chicago Washington Yellow 20 22 3 Dallas Mexico Yellow 21 24 Cauliflower Package: cartons film wrapped 1 Atlanta California White 20.50 20.50 2 Miami Mexico White 18 18 3 New York California White 18 20 Source:USDA Download/View On-Line the above News in pdf format,just click the following link 10th June (Wednesday),2015 Daily Global RiceE-Newsletter by Riceplus Magazine