Friday, August 07, 2015

7th August(Friday),2015 Daily Exclusvie ORYZA Rice E-Newsletter by Riceplus Magazine

Government of India Approves Bulk Export of Rice Bran Oil

Aug 06, 2015

Following the decision by the Cabinet Committee on Economic Affairs (CCEA) to "allow unrestricted exports of rice bran oil in bulk" in July this year, the Director General of Foreign Trade (DGFT) under the Ministry of Commerce has announced that the Indian government would hereafter allow export of rice bran oil in bulk, according to a notification by the DGFT.It also removed quantitative restrictions on the export of organic edible oils."Export of rice bran oil in bulk has been exempted from the prohibition on export of edible oils. Also, the quantity ceiling on export of organic edible oils has been removed," states the notification.Rice millers and edible oil exporters had welcomed the CCEA decision. "This would help rice farmers as well as the country in realising full potential in this segment. India produces one million tons of rice bran oil, but we have capacity to reach 1.6 million tons," the Executive Director of the Solvent Extractors Association was quoted as saying.

FAO Global Rice Price Index Continues to Decline for Eleventh Consecutive Month

Aug 06, 2015
The FAO All Rice Price Index declined to around 211 points in July 2015, down about 0.9% from around 213 points in June 2015 due to a decline in most of the sub-indices. According to the FAO, the price weakness dominated the principal market segments. The Higher and Lower Quality Indica sub-indices declined by about 1.3% and 1.7% respectively to around 182 points and 185 points. The Aromatic subindex declined by 2.7% to 175 points. However, the Japonica price index remained unchanged in July 2015.
The FAO index has been declining continuously since September 2014. It declined about 12% during the 11-month period. The FAO index value in July is the lowest since June 2010.
In January - July 2015, the FAO All Rice Price Index averaged 217 points, down about 8% from around 236 points during the same period last year. Sub-index for higher quality Indica rice prices declined about 10.2% y/y and sub-index for lower quality Indica rice prices declined about 6.1% y/y. Aromatic rice price sub-index declined about 29% y/y. However, sub-index for Japonica rice prices increased about 3.4% y/y.
According to the FAO, rice export prices in Thailand increased on concerns of drought affecting the production. Export prices in Vietnam and India also increased due to a revical of sales to Africa. However, export prices in Vietnam, Pakistan, U.S., Argentina and Uruguay declined due to higher supplies and slow export sales.
During July 2015, average rice export prices of Thai 100% broken rice, Thai parboiled rice, Thai 5% rice and Thai 25% rice increased to around $401 per ton, $399 per ton, $392 per ton and $376 per ton respectively. But, Average export prices of Thai A1 Super and Thai fragrant rice declined to around $321 per ton and $1,031 per ton respectively. Export prices of India 25% broken rice increased to around $351 per ton. However, export prices of Vietnam 25% broken rice, Pakistan 25% broken rice, U.S. 4% broken and Uruguay 5% broken rice declined to around $323 per ton, $332 per ton, $445 per ton and $526 per ton respectively.

Oryza Afternoon Recap - Chicago Rough Rice Futures Come under Pressure as Weekly Export Sales Disappoint; Wheat Manages to Strengthen despite Softer Grains

Aug 06, 2015
Chicago rough rice futures for Sep delivery settled 10 cents per cwt (about $2 per ton) lower at $11.440 per cwt (about $252 per ton). The other grains finished the day lower, excluding wheat which managed to move higher; Soybeans closed about 1.1% lower at $9.4325 per bushel; wheat finished about 1% higher at $5.0700 per bushel, and corn finished the day about 0.7% lower at $3.8050 per bushel.
U.S. stocks fell nearly 1% or more on Thursday as renewed declines in oil weighed on investor sentiment amid a slew of earnings releases and Friday's key employment report. The major averages came off session lows after extending losses in midday trade as the S&P 500 broke through a key level of 2,087 that many analysts were watching. Consumer discretionary fell about 2% as the greatest decliner in the S&P 500, weighed by media stocks. Economists expect 223,000 nonfarm payrolls on Friday, with unemployment unchanged at 5.3%, according to Thomson Reuters. Jobs data so far this week was mixed. Initial claims came in Thursday at 270,000, slightly below expectations. The private sector report from ADP showed fewer-than-expected jobs were created. Oil continued to decline, with WTI crude off 1.5% at a fresh five-month low near $44.30 a barrel. Brent dipped below $48 a barrel. In Europe, equities closed lower as crude weighed on sentiment and the Bank of England kept rates unchanged. The Dow Jones Industrial Average traded down 126 points, or 0.72%, at 17,413. The S&P 500 traded down 17 points, or 0.82%, at 2,082, with health care leading nine sectors lower and energy the only advancer. The Nasdaq traded down 83 points, or 1.62%, at 5,056. Gold is trading about 0.4% higher, crude oil is seen trading about 1.6% lower, and the U.S. dollar is seen trading nearly about 0.1% lower about  1:00pm Chicago time.
Wednesday, there were 344 contracts traded, down from 2,766 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday decreased by 34 contracts to 9,384.

Stiff Competition, Limited Exportable Supplies to Lower Thai Rice Exports in 2015, Says USDA Post

Aug 06, 2015
USDA Post forecasts Thailand's 2015 rice exports to decline about 18% to around 9 million tons from an estimated 10.97 million tons in 2014 due to a stiff competition with Vietnam and India as well as expected limited exportable supplies. The Post expects exportable supplies to be low because of a likely low output from the new crop on drought conditions as well as lesser good quality stocks in the government warehouses.
Thailand exported around 4.5 million tons of rice in the first six months of 2015, down 5% from last year due to a reduction in white and parboiled rice exports. The Post reports that the export prices of Thai white rice have increased in the mid-July due to tighter new-crop supplies.  
The Post forecasts exports in 2016 to increase slightly to 9.5 million tons due to tighter exportable supplies of white and parboiled rice in anticipation of smaller MY 2015-16 off-season rice production.
According to the Post, the government was holding around 14 million tons of rice in its ware houses as of July 20. Of these, around 8 million tons are food-grade rice, of which around 0.7 million tons are good quality rice and around 7.3 million tons are sub-standard rice or unaccounted for. Meanwhile, around 6 million tons are non-food grade rice, of which around 5 million tons are still good for industrial use and around 1 million tons are rotten rice.
The Post forecast Thailand's MY 2015-16 (January -December 2015) milled rice production at around 18 million tons, down about 7% from around 19.4 million tons due to on-going drought in irrigated areas, particularly in the lower northern region and the central plains. In July, the government stopped water supplies for main-rice crop in these regions due to critically low reservoir levels. The government expects that around 1.5 million rai (around 240,000 hectares) of main-rice crop will likely be adversely affected by drought.  
Due to anticipated tight supplies, farm-gate prices of white paddy rice increased significantly to around 8,400 baht per ton ($242 per ton) compared to 7,600 baht per ton ($227 per ton) in June 2015. 
The government has also announced that it will reduce the water supplies by half during the dry-season crops in 2016. 

Indonesia Rules Out Rice Imports Immediately Despite El Nino Concerns

Aug 06, 2015
The government of Indonesia is planning to increase 2015 paddy rice output by about 7% to around 75.2 million tons from around 70 million tons in 2014 despite concerns of a drought-inducing El Nino weather pattern likely to affect rice production in the coutnty, Reuters quoted Agriculture Ministry officials.The Agricultural Ministry is keen on acheiving the target by providing emergency measures to farmers affected by drought. The Agricutlure Minister has reportedly discussed on plans to deal with the weather pattern and ensuring the target is met. As part of efforts to increase rice production, the government has supported the rice sector by distributing 20,000 irrigation pumps and digging about 1,000 wells as well as 1,000 reservoirs.
In July this year, the country's statistics agency forecasted an output of about 75.55 million tons in 2015. However, as dry conditions have damaged about 52,000 hectares of rice land in some, the Ministry cut its target by about 250,000 - 300,000 tons.While Indonesia's President has called for a no rice import policy, some analysts expressed concern that the country may have to import some rice to make up for the production shortfall due to drought conditions.
The Agriculture Minister noted that the government is taking all measures to achieve the desired output and imports would be the last option. The government did not import any rice so far this year.
USDA estimates Indonesia to produce around 36.3 million tons of rice, basis milled (around 57.17 million tons, basis paddy), and import around 1.25 million tons of rice in MY 2014-15 (October - September). While some analysts are forecasting imports to reach about 1.6 million tons.

Oryza Overnight Recap – Chicago Rough Rice Futures Lower Overnight as Market Continues to Drift Sideways

Aug 06, 2015
Chicago rough rice futures for Sep delivery are currently seen paused 11 cents per cwt (about $2 per ton) lower at $11.430 per cwt (about $252 per ton) ahead of floor trading in Chicago. The other grains are seen trading with mixed results this morning; soybeans are currently seen trading about 1.1% higher, wheat is listed about 0.8% higher and corn is currently noted about 0.7% higher.
U.S. stock index futures indicated a higher open on Thursday as markets digested the latest Challenger jobs report, amid a raft of earnings reports, as investors geared up for Friday's closely watched July jobs report. Weekly jobless claims came in at 270,000, slightly below expectations. U.S. job cuts soared to a nearly four-year high in July as the military announced plans to reduce troop and civilian workforce payrolls. Employers based in the United States announced 105,696 layoffs last month, the first time monthly reductions exceeded 100,000 since September 2011. A year ago, U.S. companies announced plans to cut 46,887 jobs. However, none of the jobs data so far this week are expected to significantly affect Friday's key report. In Europe, equities traded lower on Thursday, as crude weighed on sentiment and markets ready themselves for an interest rate decision and economic outlook report from the Bank of England (BoE). Gold is currently trading slightly lower, crude oil is seen trading about 1.2% lower,  and the U.S. dollar is currently trading about 0.1% higher at 8:15am Chicago time.

Thailand , Pakistan Rice Sellers Lower Some of Their Quotes Today; Vietnam Rice Sellers Increase Some of Their Quotes

Aug 06, 2015
Thailand rice sellers lowered their quotes for Hommali rice by about $5 per ton to around $855-$865 per ton today. Vietnam rice sellers increased their quotes for 5% broken rice by about $5 per ton to around $340-$350 per ton. Pakistan rice sellers lowered most of their quotes by about $5 per ton today. India rice sellers kept their quotes mostly unchanged today.

5% Broken Rice
Thailand 5% rice is indicated at around $365 - $375 per ton, about $25 per ton premium on Vietnam 5% rice shown at around $340 - $350 per ton, up about $5 per ton from yesterday. India 5% rice is indicated at around $385 - $395 per ton, about $45 per ton premium on Pakistan 5% rice shown at around $340 - $350 per ton, down about $5 per ton from yesterday.
25% Broken Rice
Thailand 25% rice is shown at around $350 - $360 per ton, about $25 per ton premium on Vietnam 25% rice shown at around $325- $335 per ton. India 25% rice is indicated at around $350 - $360, about $40 per ton premium on Pakistan 25% rice shown at around $310 - $320 per ton, down about $5 per ton from yesterday.
Parboiled Rice
Thailand parboiled rice is indicated at around $380 - $390 per ton. India parboiled rice is indicated at around $375- $385 per ton, about $40 per ton discount to Pakistan parboiled rice was last  shown at around $415 - $425 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $320 - $330 per ton, about $10 per ton from premium on Vietnam 100% broken rice shown at around $310 - $320 per ton. India's 100% broken rice is shown at around $305 - $315 per ton, about $25 per ton premium on Pakistan broken sortexed rice shown at around $280 - $290 per ton, down about $5 per ton from yesterday.

Vietnam Rice Exports to Asian Destinations Increase Sharply in June 2015

Aug 06, 2015
Vietnam's rice exports have increased in June 2015 after declining sharply in May 2015, according to USDA. While the share of Vietnam's rice exports to Asian, Africa and American destinations increased in June 2015, its share of exports to Europe declined during the month. 
Vietnam has exported around 620,421 tons of rice in June 2015, up about 18% from around 526,133 tons exported in May 2015, and down about 1% from around 628,322 tons exported in June 2014. 
Asia accounted for around 456,928 tons (about 74% of total rice exports by Vietnam in June 2015) in June 2015. Month-on-month, Vietnam's rice exports to Asian destinations increased about 22% from around 375,569 tons exported in May 2015. Year-on-year, they declined about 14% from around 528,573 tons exported in June 2014.
Vietnam exported around 86,848 tons of rice to Africa (about 14% of total June 2015 exports) in June 2015, up about 3% from around 84,371 tons exported in May 2015, and nearly four times from around 22,406 tons exported in June 2014.
Vietnam exported around 63,682 tons of rice to American destinations (about 10% of June 2015 exports) in June 2015, up about 9% from around 58,239 tons exported in May 2015, and down about 1.5% from around 64,640 tons exported in June 2014. 
Vietnam's exports to Australia (about 0.5% of June 2015 exports) declined about 12% to around 2,969 tons in June 2015 from around 3,391 tons exported in May 2015 and increased about 42% times from around 2.096 tons exported in June 2014.
Vietnam's exports to Europe and CIS countries (about 0.2% of total June 2015 exports) accounted for around 10,004 tons in June 2015, over twice from around 4,563 tons exported in May 2015 and down about 6% from around 10,607 tons exported in June 2014. 
In terms of grade, 5% broken rice exports accounted for around 223,499 tons (or, about 36% of total June 2015 exports); Jasmine rice exports accounted for around 107,104 tons (or, about 17% of total June 2015 exports); 25% broken rice exports accounted for around 82,614 tons (or, about 13% of total exports in June 2015); 15% broken rice exports accounted for around 51,172 tons (or, about 8% of total exports in June 2015);  glutinous rice exports accounted for around 46,239 tons (or, about 7% of total June 2015 exports); and 10%, 100% and other varieties accounted for around 109,803 tons (or, about 18% of total exports in June 2015).

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6th August(Thursday),2015 Daily Global Rice E-Newsletter by Riceplus Magazine

Pakistan, Malaysia urged to increase trade volume

August 06, 2015
not focus on agriculture based products in trade with Malaysia as the two countries have the potential to increase the volume of the trade from current level of $1.43 billion. According to an assessment of the Malaysia-Pakistan Closer Economic Partnership Agreement (MPCEPA) which came into effect in 2008, Malaysian exports to Pakistan remain $1.2 billion while Pakistani exports to Malaysia stands at $233 million, which shows the balance of trade totally is in favour of Malaysia. The assessment report compiled by Pakistan Business Council (PBC) said that the MPCEPA was aimed at promoting bilateral trade between the two countries by giving tariff reductions on various commodities.
The agreement is one of the most comprehensive agreements Pakistan is a part of, covering trade in goods, trade in services, investment and economic co-operation. Though not exceeding 1.5% of Pakistan's overall exports, Pakistan's exports to Malaysia have been on a rise since 2004 with total exports to Malaysia in 2014 amounting to $233 million. Comparatively Malaysia's exports to Pakistan amounted to only 0.52% of its total world exports while total exports from Malaysia to Pakistan amounted to around $1.2 billion in 2014. The top 10 exports accounted for 86% of Pakistan's total exports to Malaysia in 2014. These top items consisted mainly of Cereals (Rice), Cotton, textiles and articles of apparel and Fish.
Meanwhile, out of the 80 product categories exported to Pakistan by Malaysia, the top 10 accounted for 85% of the total export value. These majorly consisted of Palm Oil (52% of total exports), Machinery and Mineral fuels. The study conducted at the HS 6 level shows that Pakistan's top potential trade commodities continue to be largely agriculture based. While Pakistan faces 0% tariffs in 71 of the 100 top potential items, a comparison of Malaysia's free trade agreements with India and China shows them to have a lower overall duty structure than Pakistan on most of the items of Pakistan's interest. 
This study makes the following recommendations: (i) The Pakistani business community need to be involved in the negotiation of any future trade agreements. (ii) None of the major trade agreements Pakistan has signed, have seen a significant increase in its exports. Imports however have shown a healthy increase post all major FTAs signed by Pakistan. (iii)The Government of Pakistan needs to ensure that the focus is not only on concessions for agriculture based exports but that value added manufacturing sector has access to markets that allow it to develop critical mass. And Pakistan still needs to focus on the following sectors while creating awareness or while negotiating future concessions; Salt; Sulphur; earths and stone for the export of portland cement to Malaysia, sugars and sugar confectionery for the export of sugar confectionary and Glucose & glucose syrup, Articles of apparel and clothing accessories and Machinery, Mechanical Appliances and Electrical Appliances. 
The study said Pakistan's world exports have mostly been focused on agriculture based commodities, a trend that is reflected in Pakistan's exports to Malaysia with rice being the top exported commodity in 2014, contributing 45.5% of Pakistan's total exports to Malaysia. This is a significant rise from 2008 when rice exports amounted to only 28.23% of total exports to Malaysia. Pakistani rice however enjoys no preferential treatment under the FTA. Pakistan's dependence on a few major agro based exports leaves it with little room to compensate for years where the recurring conditions of boom and slump may heavily affect overall exports. While Pakistan aims to increase its share of rice exports to Malaysia, Malaysia's claim that it aims to be self-sufficient in the production of rice by 2020 becomes a matter of concern, specifically since 45.5% of all Pakistani exports to Malaysia in 2014 were rice. 
Rice has been given no concession, with exporters having to face a tariff of 40% on all Pakistani exports of rice. While Malaysia has maintained this trend in all its other free trade agreements as well, India is the only country with whom Malaysia has a trade agreement where tariffs for rice are at 20%, resulting in Indian exports increasing from $8 Million to $18 Million from 2011-2014. Comparatively when looking at Malaysia's exports to Pakistan, exports are based more on commodities manufactured within the country, along with a focus on Palm Oil and Organic Chemicals. This indicates a more diversified economy with a divided focus on both agro based and manufactured commodities for export.
While Malaysian exports to Pakistan continue to be heavily focused on Palm oil, a 2008-2014 comparison shows a diversification in these exports, with Palm oil dropping from 69.96% to 52.06%, while Machinery shows an increase to 7.82% from 0.26%' hence corroborating the previously mentioned statement. Pakistan's top potential trade commodities identified in this study continue to be largely agriculture based. While Pakistan faces o% tariffs in 71 of the 100 top potential items, a comparison of Malaysia's free trade agreement with India and China show them to have a lower overall duty regime than Pakistan does on most of the items Pakistan does face tariffs in, hence affecting the country's competitiveness in the Malaysian market.
An example of this can be seen for 'T-shirts, singlets and other vests, of cotton, knitted' (HS 610910), where Pakistan faces a duty of 20% under the MPCEPA, China a duty of 0% (Under the ACFTA) and India a duty of 10% under the MICECA. Cotton, one of Pakistan's top export items, has a duty advantage in Malaysia, with o% tariff rates of most cotton commodities (Raw and cotton yarn), and an overall ad valorem tariff of 4.2%. Unfortunately Pakistan does not seem to have utilised this opportunity as Cotton exports to Malaysia have dropped from 15.09% of Pakistan's total exports to Malaysia in 2008, to 10.02% in 2014. Malaysia on the other hand has seen an increase in exports of two of its top world export items, namely Machinery and Mineral fuels, both of which face higher tariff rates (than those given to China) of 7% and 6% respectively, for exports to Pakistan.
 On its own the Malaysia Pakistan free trade agreement (MPCEPA), seems to provide relative concessions for Pakistani exports. A closer look however paints a picture of higher comparative tariff rates and the under - utilisation by the Pakistani business community of the concessions that do exist. During the 2008-2014 time period, while Malaysian exports to Pakistan continued to rise, Pakistani exports could not catch up, hence based on the study conducted the following recommendations are put forth: 

It shall create awareness amongst the business community of new opportunities for trade available as many items in the FTA have entered the o% tariff track; a fact many of the local manufacturers and exporters appear to be unaware of. Pakistan needs to focus on creating awareness amongst its business community about the opportunities available or negotiating future concessions from Malaysia; this is because these sectors have the highest trade potential and are thus necessary for boosting exports: 

Salt; Sulphur; earths and stone; plastering materials, lime and cement as there is a trade potential of $78.26 Million for the export of Portland cement to Malaysia. Articles of apparel and clothing accessories, knitted or crocheted has the third highest trade potential of $60.15 Million. While this category falls under the MPCEPA, 5 of the 6 top potential subcategories have a duty regime of 20%. Comparatively duties for China and India for these same categories are at 0% and 10% making their products more competitive in the Malaysian market. 
Machinery, Mechanical Appliances and Electrical Appliances as analysis show there is a combined trade potential of $75.36 Million for the exports of gas turbines, vacuum pumps, air conditioners, refrigerators and Mobile telephones.
A special focus should be on air conditioners and refrigerators as Pakistan currently faces a duty reduction to 20% in both these categories while China and India face 0% and 11% respectively. Pharmaceutical products is also currently an under-utilised opportunity as there is a trade potential of $47.5 Million in the export of Antibiotics, Medicaments, Hormones nes and Pencillins with a current 0% duty regime. Plastics and articles thereof and Paper and paperboard have a combined trade potential of $88.64 Million for the export of Polyvinyl Chloride, Film & Sheet of Polyethylene terephththalates (Pakistan: No concession 20%, China: 6.6% and India: 12.3%) and of Polymers of propylene (Pakistan: No concession 20%, China: 13.3% and India: 14%); along with Paper and paperboard (13.3% duty to China's o% and India's 4.6%).

Fake rice' just stale, contaminated rice – NFA

Suspected fake rice turns out to be 'retrograded rice' while the contaminated rice from Davao City is an isolated case, according to tests by government agencies
Pia Ranada
Published 3:51 PM, August 06, 2015
Updated 3:56 PM, Aug 06, 2015
REAL RICE AFTER ALL. NFA Food Development Center Director Jocelyn Sales explains tests done on suspected fake rice samples. Photo by Pia Ranada/Rappler
MANILA, Philippines – There is no fake rice in the Philippines so far, officials of the National Food Authority (NFA) assured on Thursday, August 6.“What is clear from the series of tests is that there is no existence of ‘fake rice’ in our country,” NFA Administrator Renan Dalisay said in a news briefing.Test results of rice samples reported to be "fake rice" show that the strange appearance of the rice was only due to a “retrogradation process” involving a series of freezing, thawing, and heating.In other words, retograded rice can be termed as "stale rice," NFA Food Development Center Director Jocelyn Sales said at the news conference.
The 50-gram rice sample from Davao City contaminated with a plasticizer chemical compound, dibutyl phthalate (DBP), was also found to be only an “isolated case.”Test results showed that of the 21 rice samples tested, only the Davao sample was found with the presence of a chemical.“What we have is an isolated case of chemically-contaminated sample which may have been the result of mishandling or pure neglect to safeguard rice from contaminants,” said Dalisay.The tests were conducted by multiple agencies including the NFA’s Food Development Center (FDC), Philippine Rice Research Institute (PhilRice), International Rice Research Institute (IRRI), Research Institute for Tropical Medicine (RITM), and the Department of Health.
'Stale' rice
Though DBP was found only in the Davao sample, all the reported “fake rice” looked like styrofoam, prompting complaints by citizens.But the tests showed that the samples were still rice, but in a degraded form.RITM tests showed that the alleged fake rice is “morphologically different” from cooked NFA rice because it seemed to have undergone a series of quick freezing, thawing, and heating.“When rice undergoes quick freezing, many small ice crystals form in and out of cells. Water will ooze out and you will get a spongy, styrofoam-like structure,” said Sales.She likened retrograded rice to stale bread. Though dry, it is safe for eating, she added.More tests confirmed that, despite its bad condition, it is still rice.A DNA analysis by PhilRice showed that the rice sample was “positive for rice DNA.” IRRI tests supported the PhilRice finding.“The IRRI rice is very similar to the unknown samples from NFA. The unknown samples are more similar to rice than to corn or sweet potato,” said Rose Cuevas of IRRI.
'Don't put hot food in plastic'
As for the contaminated rice from Davao City, it’s likely that the chemical came from plastic containers which was used to pack the cooked rice, said Sales.The chemical DBP is typically used by plastic bag makers as an additive to make the bags more flexible. Without DBP, plastic bags can crumble.The Davao rice was likely placed inside a plastic bag while still hot.“You shouldn’t put hot food in plastic. When food is hot, the plasticizer (DBP) can migrate from plastic to the food,” said Sales.Since reports of fake rice came to NFA’s attention on June 30, the agency has sent teams to make daily inspections of rice stalls in markets nationwide.The NFA says it has responded to more than a hundred reports of suspected fake rice from different parts of the country.The most recent report of fake rice came from Naga City in Bicol two days ago. The sample tested negative for contamination, and was proven to be rice, said Dalisay.The agency gave assurances that it will continue its market monitoring activities.
“We remind the public to be very cautious in their own food handling practices as the government will continue to ensure that food, especially rice, will be available, affordable, accessible, and safe for the public,” said Secretary Francis Pangilinan, Presidential Assistant for Food Security and Agricultural Modernization. 
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Nagpur Foodgrain Prices Open- Aug 06

Thu Aug 6, 2015 2:47pm IST
Nagpur, Aug 6 Gram prices reported down in Nagpur Agriculture Produce and Marketing
Committee (APMC) here on poor buying support from local millers amid high moisture content
arrival. Fresh fall in Madhya Pradesh pulses and good monsoon reports in the region also
affected prices, according to sources. 
               *            *              *              *
   * Gram Kabuli and gram pink recovered in open market on increased seasonal demand from 
     local traders amid weak overseas supply.
   * Tuar varieties ruled steady here but demand was poor in weak trading activity.   
   * Masoor and Udid varieties reported strong in open market here on increased festival 
     season demand from local traders amid weak supply from producing belts.      
   * In Akola, Tuar - 7,300-7,500, Tuar dal - 10,400-10,600, Udid at 9,100-9,500, 
     Udid Mogar (clean) - 10,000-11,000, Moong - 7,600-7,800, Moong Mogar 
    (clean) 9,200-9,800, Gram - 4,200-4,400, Gram Super best bold - 5,800-6,000 
     for 100 kg.
   * Wheat, rice and other commodities remained steady in open market 
     in thin trading activity because of heavy rains, according to sources.
 Nagpur foodgrains APMC auction/open-market prices in rupees for 100 kg
     FOODGRAINS                 Available prices     Previous close   
     Gram Auction                   3,570-4,270         3,600-4,310
     Gram Pink Auction            n.a.           2,100-2,600
     Tuar Auction                n.a.                6,700-7,400
     Moong Auction                n.a.                6,000-6,400
     Udid Auction                n.a.           4,300-4,500
     Masoor Auction                n.a.              2,600-2,800
     Gram Super Best Bold            6,000-6,200        6,000-6,200
     Gram Super Best            n.a.                
     Gram Medium Best            5,600-5,800        5,600-5,800
     Gram Dal Medium            n.a.            n.a.
     Gram Mill Quality            5,500-5,700        5,400-5,700
     Desi gram Raw                4,650-4,750         4,650-4,750
     Gram Filter new            6,000-6,200        6,000-6,200
     Gram Kabuli                6,100-7,400        6,000-7,300
     Gram Pink                6,800-7,000        6,700-6,900
     Tuar Fataka Best             10,800-11,000        10,800-11,000
     Tuar Fataka Medium             10,300-10,600        10,300-10,600
     Tuar Dal Best Phod            9,900-10,100        9,900-10,100
     Tuar Dal Medium phod            9,400-9,700        9,400-9,700
     Tuar Gavarani New             7,900-8,000        7,900-8,000
     Tuar Karnataka             8,300-8,500        8,300-8,500
     Tuar Black                 11,000-11,200           11,000-11,200 
     Masoor dal best            8,300-8,500        8,000-8,400
     Masoor dal medium            7,900-8,200        7,700-8,000
     Masoor                    n.a.            n.a.
     Moong Mogar bold               9,600-9,800        9,600-9,800
     Moong Mogar Medium best        8,200-8,800        8,200-8,800
     Moong dal Chilka            8,800-9,000        8,800-9,000
     Moong Mill quality            n.a.            n.a.
     Moong Chamki best            9,700-10,000        9,700-10,000
     Udid Mogar Super best (100 INR/KG)    11,400-11,900       11,200-11,800
     Udid Mogar Medium (100 INR/KG)    10,300-10,800        10,200-10,700
     Udid Dal Black (100 INR/KG)        9,300-9,700        9,200-9,600
     Batri dal (100 INR/KG)        4,500-5,000        4,500-5,000
     Lakhodi dal (100 INR/kg)           3,250-3,400         3,250-3,400
     Watana Dal (100 INR/KG)        3,100-3,350        3,100-3,350
     Watana White (100 INR/KG)        3,100-3,200         3,100-3,200
     Watana Green Best (100 INR/KG)    3,300-3,900        3,300-3,900
     Wheat 308 (100 INR/KG)        1,400-1,500        1,400-1,500
     Wheat Mill quality(100 INR/KG)    1,550-1,700        1,550-1,700
     Wheat Filter (100 INR/KG)        1,300-1,500           1,300-1,500
     Wheat Lokwan best (100 INR/KG)    2,200-2,400        2,200-2,400
     Wheat Lokwan medium (100 INR/KG)    1,900-2,100        1,900-2,100
     Lokwan Hath Binar (100 INR/KG)    n.a.            n.a.
     MP Sharbati Best (100 INR/KG)    3,200-3,700        3,200-3,700
     MP Sharbati Medium (100 INR/KG)    2,550-2,850        2,550-2,850        
     Rice BPT New(100 INR/KG)        2,750-3,000        2,750-3,000
     Rice BPT (100 INR/KG)               3,000-3,300        3,000-3,300
     Rice Parmal (100 INR/KG)        1,600-1,700        1,600-1,700
     Rice Swarna new (100 INR/KG)      2,200-2,450        2,200-2,450
     Rice Swarna old (100 INR/KG)      2,500-2,700        2,500-2,700
     Rice HMT new(100 INR/KG)        3,200-3,750        3,200-3,750
     Rice HMT (100 INR/KG)               3,800-4,200        3,800-4,200
     Rice HMT Shriram New(100 INR/KG)    4,200-4,500        4,200-4,500
     Rice HMT Shriram old (100 INR/KG)    4,600-5,000        4,600-5,000     
     Rice Basmati best (100 INR/KG)    8,000-10,000        8,000-10,000
     Rice Basmati Medium (100 INR/KG)    7,000-7,500        7,000-7,500
     Rice Chinnor new (100 INR/KG)    4,300-4,700        4,500-4,800
     Rice Chinnor (100 INR/KG)        5,000-5,400        5,100-5,500
     Jowar Gavarani (100 INR/KG)        2,100-2,350        2,100-2,350
     Jowar CH-5 (100 INR/KG)        2,400-2,500        2,400-2,500
Maximum temp. 25.0 degree Celsius (77.0 degree Fahrenheit), minimum temp.
22.4 degree Celsius (72.3 degree Fahrenheit)
Humidity: Highest - n.a., lowest - n.a.
Rainfall : 0.3 mm
FORECAST: Generally cloudy sky. Rains or thunder-showers likely. Maximum and minimum temperature would be around and 27 and 21 degree Celsius respectively.
Note: n.a.--not available
(For oils, transport costs are excluded from plant delivery prices, but included in market prices.)

World food prices hit lowest level in almost six years, UN agency reports

Prices of dairy products dropped in July mainly due to lower import demand from China, the Middle East and North Africa amid abundant EU milk supplies. Photo: FAO/Alessia Pierdomenico
6 August 2015 – Prices for global agricultural products in July hit their lowest level since September 2009, as sharp drops in the prices of dairy products and vegetable oils more than offset some increases for those of sugar and cereals, the United Nations Food and Agriculture Organization (FAO) confirmed today.According to the UN agency's monthly Food Price Index, meat prices remained stable. An increase in international prices of bovine meat offset a decline for pig meat and ovine meat, while prices for poultry remained stable.The trade-weighted index tracks prices on international markets of five major food commodity groups: cereals, meat, dairy products, vegetable oils and sugar.In July, says FAO, the dairy price index dropped 7.2 percent from the previous month, mainly due to lower import demand from China, the Middle East and North Africa amid abundant EU milk production which has resulted in good availability of dairy products for export.As for the July vegetable oil price index, it was some 5.5 percent below its June level, reaching its lowest value since July 2009.
The recent slide was primarily caused by a fall in international palm oil prices due to increased production in Southeast Asia combined with slower exports especially from Malaysia. Another reason is a further weakening of soy oil prices on ample supplies for export in South America and a favourable outlook for global supply in 2015/16.The cereal price index rose by 2.0 percent from June, but was still 10.1 percent below July last year's level. For the second consecutive month, higher wheat and maize prices, in part due to unfavourable weather in North America and Europe, kept the cereal index rising, but rice prices continued to fall.The sugar price index rose by 2.5 percent from June 2015, largely due to less than ideal harvesting conditions in the main producing region of Brazil.

News Tracker: past stories on this issue

El Niño Tests How Soft Commodities Weather the Storm

The El Niño weather pattern can wreak havoc on already battered agricultural commodities

Rainfall in India’s monsoon season is tracking just below the long-term average. Here, laborers plant saplings in a paddy field on the outskirts of the eastern Indian city of Bhubaneswar. PHOTO: REUTERS
Updated Aug. 6, 2015 12:09 a.m. ET
WELLINGTON, New Zealand—Investors in soft commodities are used to being slaves to the weather’s twists and turns. With prices now in a depression and the El Niño weather pattern looming, the forecast looks more unsettled than normal.The possibility that the Federal Reserve will raise interest rates later this year, coupled with a strong U.S. dollar as a result, have weighed on prices of commodities already under pressure thanks to slowing growth in the key Chinese market. Soft commodities haven’t been spared, with sugar trading around six-year lows, dairy at 13-year lows and palm oil down around 13% so far this year.Yet the expected dry weather in Asia and wetness in the U.S. and South America that El Niño may bring could stem the losses in agricultural products, and even push prices higher if the impact on crops is as bad as some expect.El Niño occurs when winds in the equatorial Pacific slow down or reverse direction. That warms water over a vast area, which in turn can upend weather patterns around the world. It typically reduces rainfall in Australia and across parts of southeast and southern Asia in the winter and spring.
Australia’s Bureau of Meteorology Tuesday said that the weather phenomenon has continued to strengthen and temperatures in the central tropical Pacific Ocean may exceed the peak values reached during 2002 and 2009 El Niño events.“High volatility weather patterns are going to wreak havoc on the commodities markets,” said Michael Underhill, chief investment officer at Wisconsin-based Capital Innovations, which has nearly $1 billion of assets under management.The impact of El Niño so far this year has been patchy across Asia.

Rainfall in India’s monsoon season is currently tracking just below the long-term average while most of the areas that were in need of rain, including Vietnam and Philippines, have received some over the past 10 days.Meanwhile, the Thai Rice Exporters Association last month downgraded expected rice-export forecasts. It expects to export 9.5 million tons of rice in 2015, down from 10.97 million tons in 2014 because of a lack of rain. Rains in July have somewhat alleviated the dry conditions.
High volatility weather patterns are going to wreak havoc on the commodities markets.
—Michael Underhill, chief investment officer at Wisconsin-based Capital Innovations

The difficulty for investors is judging whether El Niño will have enough of an impact on crops to offset the broader macroeconomic trends that have been pushing commodity prices down.El Niño’s impact may not play out the same way in all regions. For example, while the dry weather it brings in South East Asia may damage crops, the extra rain it brings in North and South America could help farmers, leading to rising supply of commodities. Arabica coffee could benefit from a reduction in frosts as El Niño boosts temperatures, while increased rain could boost corn crops in Brazil. However, too much rain in the Americas could hamper milling of sugar and harvesting of grains and have a negative impact on supply.

Concerns about the weather pattern caused an initial “pop” in a number of agricultural commodity prices over the last couple of months, said Matthew Bradbard, director at RCM Alternative, a Chicago-based firm that specialized in managed future products. But if markets start to anticipate it won’t be as bad as first expected this could reverse, he added, noting the rally in wheat in early July has been pared back as early concerns about the impact of El Niño on the grain have waned, though he expects sugar prices to start strengthening. “Sugar is extremely cheap and...prices have just got decimated of late,” he said. “People aren’t meant to pick tops or bottoms but I’m lightly starting to buy sugar because it is so cheap.

”Some Asia-based companies could benefit from upended weather patterns because of their exposure to palm oil and sugar prices, said Mr. Underhill. For every 10% that palm oil prices rise, for example, Golden Agri-Resources Ltd., the world’s second largest palm oil plantation company could see net profit increase by 16%, he said. Trading company Wilmar International Ltd. could meanwhile benefit from soft commodity price volatility brought on by weather changes.The market hasn't taken into sufficient account the support that El Niño could provide to agricultural commodity prices and what this could mean for upstream producers, saidJames Govan, investment manager at Baring Global Agricultural Fund in London.“El Niño tends to be most positive for Argentina and southern Brazil, as these regions tend to see an improvement in yields. We have increased our allocation to Latin American farming stocks—these companies are also currently gaining from depreciating local currencies against the U.S. Dollar,” he said.
Write to Lucy Craymer at

Only 40% of rice production target met

 Thursday, August 06, 2015
RICE production in Davao City reached 3,465.91 metric tons (MT) as of July 2015, about 40 percent of the city's rice production target for this year, City Agriculturist Office (CAO) of Davao said.CAO data showed that for 2015, the city is eyeing to produce 9,052.87 MT in 4,377.29 hectares."Through our regular rice production monitoring we found out that the destructive effects of the dry spell contributed a lot in the low rice production of the city," Babeta Samodal, agriculturist II rice report officer said, adding that the city should have already accomplished more than half of its target at present.

Data released by the regional office of the Department of Agriculture (DA) showed the city's total riceland damage in July 2015 was pegged at 320 hectares.The ill effects of the El Nino have more than 90 percent chance to continue until 2016, according to Philippine Atmospheric, Geophysical and Astronomical Services Administration.Largest bulk of rice production is from Calinan with 2,044.86 MT production, followed by Tugbok (486.10 MT) and Talomo (276 MT).Samodal said Davao is rich with irrigated lowland and upland rice areas.
The city's rice production as of July 2015, from irrigated areas, contributed a total of 2,991.81 MT while lowland rice only contributed 399.25 MT and upland rice with 74.85 MT.CAO rice production monitoring in 2014 showed that a total of 11,414.14 MT were produced by the city from the 3,172.17 hectares harvested area.Rice producing land areas in Davao are Talomo, Buhangin, Paquibato, Toril, Tugbok, Calinan, Baguio and Marilog. (Sun.Star Davao)
Old carvings excite scientists
New find: A giant rock with carved figures made by people in Yen Bai Province 400 years ago.
YEN BAI (VNS) — Around 20 big stones with figures carved on these and dating as far back as 16th or 17th century have been discovered recently by scientists from the Yen Bai Province's museum.The stones, measuring between two cubic metres and 50 cubic metres, were found scattered in various communes of Che Cu Nha, La Pan Tau, Lao Chai and De Xu Phinh.Figures carved on the stones includes images of terrace rice fields, flamingos, horses, astrological maps, yin-yang and five basic elements' symbols and mysterious lines, believed to be some kind of ancient characters.Local scientists have chosen six big stones with the most typical carved figures for further research, which will add more value to the already famous local beautiful terrace rice fields from a tourism point of view. — VNS

Agro-forestry-fishery exports: secondary items make up mainstay reduction

Impressing export turnover growth of secondary items in agricultural-forestry- fishery industry such as cashew nut, pepper, cassava, vegetable and fruits has partly made up the drastic fall of traditionally mainstay products including rice, coffee and seafood in the first seven months this year.

Seafood export value reaches US$3.5 billion in the first seven months this year, down 17 percent over the same period last year (Photo: SGGP)
Mainstay product turnover reduction
In the first seven months, export turnover of farm produce and seafood products dropped 3.6 percent over the same period last year to only US$16.9 billion, raising concerns because Vietnam has been familiar with good export growth of these products for the last several years.The most reduction was from coffee, rubber, rice and seafood.Unofficial statistics show that rice exports reached only 3.7 million tons worth US$1.5 billion, down 3.1 percent in volume and 8.3 percent in value. Previously, the Vietnam Food Association reported that rice export price averaged US$431 a ton in the first half this year, a year on year fall of 4.64 percent.Rice exports to China that is the Vietnam’s largest market with 38 percent market share decreased 9 percent in volume and 13.2 percent in value in the seven months.Coffee and rubber even reduced deeper than rice. Vietnam shipped 792,000 tons of coffee to yield US$1.6 billion, down 40 percent in volume and 33.7 percent in value.Rubber products saw a year on year volume of 13.6 percent increase and value decline of 9.2 percent to 519,000 tons and US$760 million.

The above three products’ reduction was said because supply has exceeded demand after top export nations including Vietnam quickly expanded their cultivation areas.The most concern was from seafood which turnover plunged 17 percent to bring only US$3.5 billionExport value of brackish shrimp, accounting for 50 percent of seafood export turnover, dropped 29 percent to US$1.2 billion in the first six months, according to the General Department of Vietnam Customs.
The Vietnam Association of Seafood Exporters and Producers (VASEP) forecast that shrimp export turnover would approximate US$3.2 billion this year, a reduction of US$700 million over 2014 due to increasing supply in the world.  Pangasius fish is expected to slide 4 percent to US$1.7 billion for the whole year.

Minor items rise up

Shrimp harvest in Nha Be district, HCMC (Photo: SGGP)

While main products experienced the turnover shortfall, secondary items posted an impressive growth such as vegetable, cashew nuts, pepper and cassava in the first seven months.Firms exported 184,000 tons of cashew nuts worth US$1.3 billion, a year on year increase of 11.8 percent in volume and 26.6 percent in value. Export price averaged US$7,213, up 12.6 percent.
Chairman of the Vietnam Cashew Association Nguyen Duc Thanh said that prices of many kinds of nuts including cashew had soared up because of drought in the world. With this momentum, cashew nut and product export turnover might hit at least US$2.5 billion this year.
About 98,000 tons of pepper was sold abroad bringing US$920 million, down 20.6 percent in volume but up 2 percent in value. Average export prices moved up 30 percent to exceed US$9,300 a ton.

The highest hike was from cassava and products with 2.8 million tons worth US$886 million, raising 35.4 percent in volume and 40 percent in value.Wood and furniture value was up 8.3 percent to hit US$3.7 billion, which is expected to break US$7 billion this year.Vegetables and fruits have recovered in recent years after a long stagnation.The Vietnam Fruit and Vegetable Association reported an export turnover hike of 22.8 percent to near US$881 million in the first seven months. Markets posting the highest growth rate comprising Germany with 50 percent and the United Kingdom with 31.3 percent.

Experts expected stronger growth in the second half of the every year that is the main export season. In addition, many new markets have already opened to Vietnamese fruits including longan and litchi. If growth rate tops 25 percent, US$2 billion turnover is possibly reachable.
By Cong Phien – Translated by Hai Mien

PNNL researchers lead decade-long study on rice modification for bioenergy

August 6, 2015 | Meghan Sapp
In Washington state, with the addition of a single gene, rice can be cultivated to emit virtually no methane from its paddies during growth. It also packs much more of the plant’s desired properties, such as starch for a richer food source and biomass for energy production, according to a study in Nature.

The results, which appear in the July 30 print edition of Nature and online, represent a culmination of more than a decade of work by researchers in three countries, including Christer Jansson, director of plant sciences at the Department of Energy’s Pacific Northwest National Laboratory and EMSL, DOE’s Environmental Molecular Sciences Laboratory. Jansson and colleagues hypothesized the concept while at the Swedish University of Agricultural Sciences and carried out ongoing studies at the university and with colleagues at China’s Fujian Academy of Agricultural Sciences and Hunan Agricultural University.

Tags: PNNL, Rice, Washington
Category: Research

Ghana 'reduces sugar and rice imports'
President John Dramani Mahama says government has made significant strides in the reduction of some imported products including rice and sugar which hitherto were massively imported for local consumption.He stated that local rice production for instance has significantly improved by about 60 per cent.President Mahama said this when he commissioned a 50 million Ghana Cedis Tomato Processing Plant for Conserveria Africana Limited in Tema.President Mahama emphasized that the strides made has helped to reduce the Country's foreign exchange.

Rakhine State flooding death toll hits at least 55

By Aung Shin   |   Thursday, 06 August 2015
The number of confirmed casualties in Rakhine State has hit 55 and is likely to rise further, officials reported yesterday, as civil society groups and residents said drinking water shortages were the main concern.
A body is transported on a boat through mangrove forest in Mrauk-Oo township on August 4. Photo: Kaung Htet / The Myanmar Times
 The northern part of Rakhine has been among the hardest-hit by recent floods that have afflicted 12 of Myanmar’s 14 states and regions, affecting an estimated 260,000 people.But many areas remain virtually cut off from assistance, reachable only by helicopter. “The death toll could increase. There are still villages that we haven’t reached yet,” U Tin Maung Swe, state-level administrator in Sittwe told The Myanmar Times.
The regional government is supplying food and other aid to villages through airdrops using military helicopters. A total of 180 flights have been undertaken since August 2.“Airdrops of food supplies with helicopters are not sufficient. It is just to provide mental encouragement to the flood victims. We are now going by small boats to villages in very remote areas,” U Tin Maung Swe said.According to the regional government, five townships in northern Rakhine State have been classified flood disaster zones – Kyauktaw, Minbya, Mrauk-Oo, Buthidaung and Maungdaw – with as many as 300,000 people affected.As well as the human toll, thousands of livestock and at least 200,000 acres of paddy have been damaged.
But many more acres of paddy are likely to be damaged in the disaster-hit northern part of Rakhine, which has between 800,000 and 900,000 acres of rich paddy fields, according to official data.Similarly, Rakhine residents are sceptical of the official casualty figures.“The government’s figures are not reliable. It seems that government officials are reluctant to release the real number of casualties. There are some villages still disconnected,” said UKhine Pray Soe, vice chair of the Rakhine National Party.He said drinking water was the most urgent need among flood-hit communities.“We have no idea how we can solve the drinking water problem at the moment. There are also difficulties for cooking,” he said.
When The Myanmar Times travelled to villages around Mrauk-Oo on August 4, residents were covering long distances in small boats in the hope of finding drinking water. Other boats were searching for bodies.Most land transport routes and power lines have been cut off in Rakhine State due to the flooding. The capital city, Sittwe, has received limited electricity through the use of generators.Meanwhile, the telecommunication system, which was poor to begin with, has also been badly damaged in many areas. As a result, remote villages remain out of contact with government officials and civil society groups.“The death toll could be at least 100,” said U San Kyaw, a member of a Sittwe charitable organisation.
His association set up a temporary centre in Sittwe to accept donations from individuals and arrange delivery. As of yesterday evening it had received K100 million in cash, as well as many goods.“We are going to very disconnected villages where nobody is reaching,” said U Thein Tun Aung, another association’s member.The group has dispatched supply boats to remote villages, travelling to Mrauk-Oo three times and Minbya twice, he said.One Mrauk-Oo resident said on August 4 that while the worst of the flooding was over, there was still a shortage of supplies.“The water went down in many parts of town and people are almost back to normal. But they are waiting for aid to arrive,” he said.


Mexican Dishes Bring U.S. Rice to Japanese Consumers        

 Japanese consumers sampling U.S. rice
Olé and kanpai!

TOKYO, JAPAN - This week, USA Rice conducted a consumer event here in collaboration with Ryoritsushin, a popular food magazine. Approximately 60 Japanese consumers were introduced to U.S. medium grain at Toro Tokyo, celebrity chef Richard Sandoval's hot Mexican and Latin American restaurant in the posh and exclusive Ginza District.The event featured a discussion led by the magazine about the new popularity of Mexican cuisine in Japan, followed by a presentation on U.S. rice including its growing environment, exports, and unique sustainability story. Finally, Toro chef Ogawa explained to the crowd why U.S. medium grain works nicely for his Mexican menus, and that it is the only rice on the restaurant's menu. He then conducted a cooking demonstration of his "Mexican Egg," incorporating U.S. medium grain rice.

Ms. Rachel Nelson, director of the U.S. Embassy Agricultural Trade Office here, offered a greeting and toast to the invited participants and partook of the many Mexican dishes, all of which were prepared with U.S.-grown rice.Attendees completed a questionnaire at the event's conclusion that showed 95 percent of the participants were satisfied with the event and almost 98 percent thought the menus using U.S. medium grain tasted good. Ninety-five percent of the participants liked the texture of U.S. medium grain. 

"Simple first-person promotional events such as this one create a long-remembered positive image for our rice that is passed on by word-of-mouth to many others," said USA Rice's Bill Farmer who attended the event.

Contact: Michael Klein (703) 236-1458

Weekly Rice Sales, Exports Reported       

WASHINGTON, DC -- Net sales of 19,800 MT for 2014/2015 were up noticeably from the previous week, but down 38 percent from the prior 4-week average, according to today'sExport Sales Highlights report.  Increases were reported for Libya (20,600 MT), Canada (1,500 MT), South Korea (500 MT), New Guinea (400 MT), and El Salvador (400 MT).  Decreases were reported for Mexico (4,400 MT) and Jordan (400 MT). Net sales of 81,500 MT for 2015/2016 were reported for Panama (45,400 MT), Haiti (20,000 MT), Mexico (10,100 MT), Costa Rica (4,500 MT), and El Salvador (1,000 MT). Decreases were reported for Canada (100 MT). 

Exports of 77,700 MT were down 27 percent from the previous week and 3 percent from the prior 4-week average. The primary destinations were Mexico (30,100 MT), Libya (20,600 MT), South Korea (10,700 MT), El Salvador (6,000 MT), and Canada (3,100 MT).

This summary is based on reports from exporters from the period July 24-30, 2015. 

CME Group/Closing Rough Rice Futures   
CME Group (Prelim):  Closing Rough Rice Futures for August 6.
Net Change

September 2015
- $0.100
November 2015
- $0.100
January 2016
- $0.090
March 2016
- $0.060
May 2016
- $0.065
July 2016
- $0.065
September 2016
- $0.065


Openings in China for high-quality food export

E-commerce there has grown to 10% of retail sales
BS Reporter  |  Mumbai 

Beside the export of traditional agricultural products like spice and sugar, Indian companies can now look forward to supplying high-quality foodstuff to China, with consumers there becoming more quality conscious.“Indian companies can scout for business opportunities in China,” said Ping Chew, Asia head for food & agricultural research at Rabo Bank, in an interview to  Business Standard. “Following the increasing demand due to safety concerns among Chinese consumers, producers/ distributors there are looking for outsourcing safer and quality products and also tying up with foreign companies.”
E-commerce there has grown to 10 per cent of retail sales. Last year, China’s per capita income was $7,500 per annum; measured by purchasing power parity, it was $13,000-14,000. Despite a slowing economy, consumption remains a main driver. Higher disposable income has also has made consumers more choosy about quality, safety and protein rich products. Chew said, “Several incidences of issues emerging in food safety were reported in China.” This is another reason why ore Chinese companies source good brands, mainly from the US and Europe.

China’s economy is now expected to grow at six to seven per cent annually till it stabilises, “a new normal for the economy”, said Ping. He foresees further consolidation in China’s food andagriculture sector. It will increase import of soybean and feedgrain. At the downstream side, e-commerce will continue to play a big role. “There are enormous opportunities in
 China for foreigners to invest or tie-up with local companies, and Indian companies can look forward for such opportunities,” said Ping. Products in this regard include high-value dairy, cashew, processed seafood, basmati rice and sesame seeds.

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