THAVER CALLS
ON POLICY MAKERS TO BENEFIT FROM FALL IN OIL PRICES WISELY
January 2, 2015
Karachi, January 01, 2015
(PPI-OT): The Union of Small and Medium Enterprises (UNISAME) has called upon
the policy makers to benefit from the fall in oil prices wisely and take this
as golden opportunity to curb inflation, reduce cost of production, promote
investment and increase exports.President UNISAME Zulfikar Thaver said the
prospects are very bright for 2015 and Pakistan will become competitive in many
commodities but it is very important that the government reduce its own
expenses and declare austerity as a very first step.
Secondly full throttle action is required to promote value
addition and exports. Thirdly a strict eye on imports is necessary to
discourage imports of the unnecessary.He lamented that the government is not
taking steps to promote domestic industry and not protecting it as a result
imports are increasing and many items which are manufactured in Pakistan are
being imported in bulk and dumped in the market. The SME units are discouraged
and not planning to increase production, to modernize and upgrade their
products due to tough competition from imported items.The importers are under
invoicing their imports and also importing goods with undeclared money. There
is no check on imports as imports of all items are allowed whether they are
made in the country or not due to WTO regulations the imports cannot be
disallowed.
Thaver urged the policy makers to examine the imports and impose
regulatory duty on imports of items manufactured in Pakistan otherwise Pakistan
is fast becoming a trading economy. The country is exporting goods worth US
dollars 24 billions and importing goods worth US dollars 45
billions.Fortunately overseas Pakistanis are remitting US dollars 15 billions
which is saving the situation otherwise the balance of payments would be
precarious. There is also foreign debts and internal debts and deficits which
are increasing and increasing the burden but the government is not serious
although it is a situation which could cause deep concern to the economist.
UNISAME conducted a survey and found that the new industries are
not being set up due to energy crisis, poor law and order, competition from
Chinese goods, lack of marketing support for exports, poor infrastructure for
farm produce and poor logistics.The other draw backs are lack of finance,
leasing, insurance and taxation policies. Many entrepreneurs also complained
about corruption, extortion and environment. Some even mentioned the high
handedness of government officials and difficulties in lodging FIR and
misconduct of policemen.
One important issue raised was of lack of information and
entrepreneurs complained that the related trade promotion bodies have no
satisfactory information bureau to answer queries. One exporter of bananas
wanted to know what is the import duty on bananas in different countries and
nobody was in a position to give the correct answer and the exporter was keen
to export the fruit to the different countries as he was a farmer and growing
the fruit.
It is very important that the information bureau is set up in
the trade promotion body capable of providing information as information is the
key requirement of any entrepreneur. It is high time the government gets into
gear and takes positive bold steps to benefit from the favourable aspects of
reduced oil prices and strengthen the economy before the situation takes a
turn. It is expected that the oil prices will remain such for about one year
and in this period the government must act diligently to benefit from the
situation.
Source with thanks:http://www.unisame.org/thaver-calls-on-policy-makers-to-benefit-from-fall-in-oil-prices-wisely/
Nigeria’s yearly rice imports from Vietnam hit N84 billion
Thursday, 01 January 2015 19:05
Written by Roseline Okere
THE Federal Government’s yearly rice import bill from Vietnam has
hit about $500 million (N84 billion) according to the Nigerian-Vietnam Chambers
of Commerce and Industry. Besides, Vietnam also spends about $100 million
to import agricultural products such as raw cashew nuts, cassava and oil palm
from Nigeria. Indeed, Nigeria spends about N365 million yearly on the
importation of 2.1 million metric tonnes of milled rice from different
countries, such as India, Thailand and Vietnam. President of the chamber,
Prince Oye Akinsemoyin, who made this disclosure in an interview with The
Guardian recently, said Nigeria’s imports cover a wide range of commodities,
including those of Vietnam’s strengths such as rice.
He listed Vietnam’s major exports to Nigeria to include rubber,
electric and electronic products, footwear, plastics, handicraft and fine art
articles and construction materials, while the country imports from Nigeria raw
cashew nuts, fruits, cotton and minerals. Akinsemoyin stated: “Basically,
Nigeria exports Agricultural products.
At the moment, Vietnam is the largest importer of Nigeria’s raw
cashew nuts. Vietnam’s cashew import from Nigeria is about a $100 million
yearly. Nigeria exports agricultural items like Cassava with which Vietnam
produces starch and the raw materialsVietnam imports sea foods from Nigeria,
like shrimps, fish; also oil palm, which is processed to palm oil, which goes
into local production of creams and cosmetics Vietnam imports food items like
coconut and also beans and fruits from Nigeria.
Vietnam exports rice to Nigeria; Vietnam is one of
Nigeria’s trading partners in rice exportation. Vietnam’s rice export to
Nigeria will be about $500 million per annum. Vietnam exports garments, fabrics
to Nigeria as well as shoes and fashion accessories. Many of the cosmetics
companies in Vietnam are looking for distributors in Nigeria.
Vietnam exports furniture, artifacts and art work for interior
décor”. He disclosed that many companies from Vietnam are willing
to invest in Nigeria.
According to him, “the chamber is now looking at setting up
institutions that will further foster the relationship between Nigeria and
Vietnam; we are encouraging investors from Vietnam to make in road to Nigeria
economy, companies like Viettel is willing to invest $7 billion into the
Nigerian Telecommunication sector. Arrangement is already going on to avail
them the opportunity to bid for the relevant spectrum to be able to operate as
one of the telecom operators in the country. “PetroVina is also
interested in investing in the Exploration and Production (E&P) sub-sector
of the country’s Oil and Gas sector, PetroVina is interested in the upstream
and the midstream sectors. We are trying to attract investments that will be
able to provide employment for Nigerians. The kind of investors that will be
able to have multiplier effects on the Nigerian economy”.
source with thanks:http://www.ngrguardiannews.com/business/192379-nigeria-s-yearly-rice-imports-from-vietnam-hit-n84-billion
Cambodia's
rice export up 2 pct last year
(GlobalPost/GlobalPost)
Cambodia's rice export up 2 pct last
year
PHNOM
PENH, Jan. 1 (Xinhua) -- Cambodia exported 387,061 tons of milled rice in 2014,
a 2 percent increase from 378,856 tons in a year earlier, an official report
said Thursday.Cambodian rice has been sold to 57 countries and regions around
the world, said the data compiled by the Secretariat of One Window Service for
Rice Export.Five main buyers are France, Poland, Malaysia, China, and the
Netherlands.Kim Savuth, Vice President of the Federation of Cambodian Rice
Exporters, said a sluggish growth in rice export was due to fierce competitions
with other countries' rice, especially Vietnam and Thailand.Cambodia is an
agrarian country with some 80 percent of the population being farmers.
In
2010, the Southeast Asian country set a goal of exporting 1 million tons of
milled rice by 2015. However, Prime Minister Hun Sen admitted last month that
the country was unlikely to achieve the self-imposed target due to a lack of
milling capacity and funding.He said the rice export figure in 2014 clearly
proved that achieving the 1 million tons target in 2015 is unlikely.Copyright
2014 Xinhua News Agency.Xinhua is China's state-run news agency.All rights
reserved. This material may not be published, broadcast, rewritten, or
redistributed.
source with thanks:http://www.globalpost.com/dispatch/news/xinhua-news-agency/150101/cambodias-rice-export-2-pct-last-year
Gov't grain stockpile crushing
China's domestic market
Staff Reporter
2015-01-02
09:50 (GMT+8)
Harvesting at a rice field in Harbin, Heilongjiang, Sept. 2011.
(File photo/Xinhua)
The grain inventory the Chinese
government stockpiled to bolster prices and protect the livelihood of farmers
is now stilling tall and idle without a modern food processing industry to
consume it, reports the Chinese-language China Business News.Mu Yiankuei, owner
of a major food processing firm, said that despite the good intentions, the
government's practice has given rise to some grave side effects, including the
disruption of the normal circulation of grains on the market and hindrance of
the healthy development of the food processing industry.
Many grain processing enterprises have been forced to close down
because of a lack of grain supply, one example being rice factories in
northeastern China. Nearly 80% of them have folded their operations.The grain
purchase has entailed a heavy financial burden on the government, which has
been spending several hundreds of billions of yuan in buying up grains a year.
These are on top of the costs for infrastructure, custody of the stockpiled
grains and interest on funds for the purchases.
The stockpiled grains are typically kept in warehouses for one to
three years before their release into the market, greatly affecting their
quality. In addition, the government purchase has jacked up domestic grain
prices, inducing imports or even the smuggling of low-cost grains from
neighboring nations into China. In the same vein, it has distorted the domestic
market. In one instance, farmers looking to make an extra buck off of higher
prices in northeastern China, prices set off by official grain purchases, began
selling their maize en masse from northern China. According to rough
statistics, over 5 million tons of maize flowed from Hebei to Liaoning province
in 2014.Mu Yiankuei urged the government to intensify its support for the
development of a modern grain processing industry, thereby laying a firm
foundation for grain safety and management.
Nigeria's
Yearly Rice Imports From Vietnam Hit N84 Billion
By Roseline Okere
THE Federal Government's yearly rice import bill from Vietnam has
hit about $500 million (N84 billion) according to the Nigerian-Vietnam Chambers
of Commerce and Industry.Besides, Vietnam also spends about $100 million to
import agricultural products such as raw cashew nuts, cassava and oil palm from
Nigeria.Indeed, Nigeria spends about N365 million yearly on the importation of
2.1 million metric tonnes of milled rice from different countries, such as
India, Thailand and Vietnam.
President of the chamber, Prince Oye Akinsemoyin, who made this
disclosure in an interview with The Guardian recently, said Nigeria's imports
cover a wide range of commodities, including those of Vietnam's strengths such
as rice.He listed Vietnam's major exports to Nigeria to include rubber,
electric and electronic products, footwear, plastics, handicraft and fine art
articles and construction materials, while the country imports from Nigeria raw
cashew nuts, fruits, cotton and minerals.
Akinsemoyin stated: "Basically, Nigeria exports Agricultural
products. At the moment, Vietnam is the largest importer of Nigeria's raw
cashew nuts. Vietnam's cashew import from Nigeria is about a $100 million
yearly. Nigeria exports agricultural items like Cassava with which Vietnam
produces starch and the raw materials.Vietnam imports sea foods from Nigeria,
like shrimps, fish; also oil palm, which is processed to palm oil, which goes
into local production of creams and cosmetics Vietnam imports food items like
coconut and also beans and fruits from Nigeria.
Vietnam exports rice to Nigeria; Vietnam is one of Nigeria's
trading partners in rice exportation. Vietnam's rice export to Nigeria will be
about $500 million per annum. Vietnam exports garments, fabrics to Nigeria as
well as shoes and fashion accessories. Many of the cosmetics companies in
Vietnam are looking for distributors in Nigeria.Vietnam exports furniture,
artifacts and art work for interior décor".He disclosed that many
companies from Vietnam are willing to invest in Nigeria.
According to him, "the chamber is now looking at setting up
institutions that will further foster the relationship between Nigeria and
Vietnam; we are encouraging investors from Vietnam to make in road to Nigeria
economy, companies like Viettel is willing to invest $7 billion into the Nigerian
Telecommunication sector. Arrangement is already going on to avail them the
opportunity to bid for the relevant spectrum to be able to operate as one of
the telecom operators in the country.
"PetroVina is also interested in investing in the Exploration
and Production (E&P) sub-sector of the country's Oil and Gas sector,
PetroVina is interested in the upstream and the midstream sectors. We are
trying to attract investments that will be able to provide employment for
Nigerians. The kind of investors that will be able to have multiplier effects
on the Nigerian economy".
Source with thanks:http://allafrica.com/stories/201501021460.html
Nagpur
Foodgrain Prices Open- Dec 31
Wed Dec 31, 2014 7:03pm IST
Nagpur, Dec 31 (Reuters) -
Gram prices reported higher in Nagpur Agriculture Produce and
Marketing Committee (APMC) on increased marriage season demand from
local millers amid thin arrival from producing belts. Freshs rise in Madhya
Pradesh gram prices and enquiries from
South-based millers also pushed up prices, according to sources.
* * * *
FOODGRAINS & PULSES
GRAM
* Desi gram raw zoomed up
again in open market on good marriage season demand
from local traders amid
tight supply from producing regions.
TUAR
* Tuar gavarani recovered
nominally in open market on renewed demand from local
traders amid weak supply
from producing regions.
* Moong and udid varieties
touched to a record high in open market on increased
seasonal demand from
local traders amid tight supply from producing regions. Weak
production reports also
activated stockists.
* In Akola, Tuar -
4,700-4,900, Tuar dal - 7,100-7,400, Udid at 6,700-6,900,
Udid Mogar (clean) -
7,500-7,700, Moong - 7,800-8,000, Moong Mogar
(clean) 9,700-10,100,
Gram - 2,500-2,700, Gram Super best bold - 3,600-3,900
for 100 kg.
* Wheat, rice and other
commodities remained steady in open market
in thin trading
activity, according to sources.
Nagpur foodgrains APMC
auction/open-market prices in rupees for 100 kg
FOODGRAINS Available prices Previous close
Gram Auction 2,900-3,400 2,870-3,350
Gram Pink Auction n.a. 2,100-2,600
Tuar Auction n.a. 4,000-4,200
Moong Auction n.a. 6,200-6,400
Udid Auction n.a. 4,300-4,500
Masoor Auction n.a. 2,600-2,800
Gram Super Best Bold 4,150-4,300 4,150-4,300
Gram Super Best n.a.
Gram Medium Best 3,900-4,000 3,900-4,000
Gram Dal Medium n.a. n.a.
Gram Mill Quality 3,000-3,100 3,000-3,100
Desi gram Raw 3,100-3,400 3,100-3,400
Gram Filter new 3,300-3,700 3,300-3,700
Gram Kabuli 8,600-9,900 8,600-9,900
Gram Pink 7,300-7,500 7,300-7,500
Tuar Fataka Best 7,700-7,800 7,700-7,800
Tuar Fataka Medium 7,450-7,600 7,450-7,600
Tuar Dal Best Phod 7,000-7,200 7,000-7,200
Tuar Dal Medium phod 6,600-6,800 6,600-6,800
Tuar Gavarani 5,550-5,650 5,500-5,600
Tuar Karnataka 5,800-6,000 5,800-6,000
Tuar Black 8,300-8,700 8,300-8,700
Masoor dal best 7,300-7,500 7,300-7,500
Masoor dal medium 7,000-7,200 7,000-7,200
Masoor n.a. n.a.
Moong Mogar bold 10,500-10,800 10,300-10,600
Moong Mogar Medium best 9,800-10,200 9,700-10,200
Moong dal Chilka 9,500-10,000 9,200-9,800
Moong Mill quality n.a. n.a.
Moong Chamki best 8,300-9,800 8,000 -9,600
Udid Mogar Super best
(100 INR/KG) 8,200-8,500 8,000-8,200
Udid Mogar Medium (100
INR/KG) 7,700-7,900 7,600-7,800
Udid Dal Black (100
INR/KG) 6,000-6,200 5,800-6,000
Batri dal (100
INR/KG) 4,300-4,500 4,300-4,500
Lakhodi dal (100 INR/kg) 2,800-3,000 2,800-3,000
Watana Dal (100
INR/KG) 2,900-3,200 2,900-3,200
Watana White (100
INR/KG) 2,900-3,100 2,900-3,100
Watana Green Best (100
INR/KG) 3,850-4,450 3,850-4,450
Wheat 308 (100
INR/KG) 1,300-1,600 1,300-1,600
Wheat Mill quality(100
INR/KG) 1,800-1,900 1,800-1,900
Wheat Filter (100
INR/KG) 1,200-1,400 1,200-1,400
Wheat Lokwan best (100
INR/KG) 2,200-2,500 2,100-2,500
Wheat Lokwan medium (100
INR/KG) 1,950-2,200 1,950-2,200
Lokwan Hath Binar (100
INR/KG) n.a. n.a.
MP Sharbati Best (100
INR/KG) 2,800-3,200 2,800-3,200
MP Sharbati Medium (100
INR/KG) 2,300-2,500 2,300-2,500
Wheat 147 (100
INR/KG) 1,300-1,400 1,300-1,400
Wheat Best (100
INR/KG) 1,550-1,850 1,550-1,850
Rice BPT (100
INR/KG) 3,000-3,300 3,000-3,300
Rice Parmal (100
INR/KG) 1,700-1,800 1,700-1,800
Rice Swarna new (100
INR/KG) 2,400-2,600 2,400-2,600
Rice HMT (100
INR/KG) 3,800-4,200 3,800-4,200
Rice HMT Shriram (100
INR/KG) 4,500-5,300 4,400-5,300
Rice Basmati best (100
INR/KG) 10,000-13,000 10,000-13,000
Rice Basmati Medium (100
INR/KG) 7,000-9,600 7,000-9,600
Rice Chinnor (100
INR/KG) 5,200-5,500 5,100-5,500
Jowar Gavarani (100
INR/KG) 1,900-2,100 1,900-2,100
Jowar CH-5 (100
INR/KG) 2,100-2,300 2,100-2,300
WEATHER (NAGPUR)
Maximum temp. 28.8 degree Celsius (73.8 degree Fahrenheit), minimum
temp.
15.2 degree Celsius (59.4 degree Fahrenheit)
Humidity: Highest - n.a., lowest - n.a.
Rainfall : nil
FORECAST: Partly cloudy sky. Rains or thunder-showers likely
towards evening or night. Maximum
and minimum temperature would be around and 29 and 18 degree
Celsius respectively.
Note: n.a.--not available
(For oils, transport costs
are excluded from plant delivery prices, but
included in market prices.)
