Thursday, May 26, 2016

26th May,2016 daily global,regional and local rice e-newsletter by riceplus magazine

Dar orders availability of agricultural credit to farmers

After failure of crops of cotton, maize and rice that affected the GDP growth for the current financial year, Federal Minister for Finance Senator Ishaq Dar chaired a meeting on Wednesday to review the provision of agriculture credit, particularly by public sector banks to the farmers to increase agriculture production. The secretary finance, deputy governor State Bank of Pakistan, CEOs of National Bank of Pakistan and Zarai Taraqiati Bank Limited and senior officials of the ministry of finance attended the meeting.
In the meeting, issues pertaining to the agriculture sector, particularly losses incurred by the agriculturists in respect of cotton and rice crops were discussed. It was also pointed out that the mark-up rates charged on agriculture credit by the banks need to be reviewed. In view thereof, the finance minister urged upon the public sector financial institutions like NBP and ZTBL to review the mark-up rates for agriculture credit, particularly in view of the reduction in overall policy rate recently announced by the State Bank of Pakistan.
The heads of the banks assured that they would immediately finalise specific measures for increasing availability of agricultural credit and rationalise mark-up rates which will enhance agricultural growth in the country

Teams formed to monitor Ramzan relief package, USC informs Senate body

The Utility Stores Corporation (USC) informed the Senate Committee on Industries and Production that it has constituted as many as nine monitoring teams besides designating 153 officials for effective monitoring of Ramzan Package during the holy month of Ramazan.The Senate Committee, which met here under chairmanship of Senator Hidayatullah, was attended by Senators Mrs Khalida Parveen, Chaudhry Tanvir Khan, Mst Kalsoom Parveen, Mian Muhamamd Ateeq Shaikh, Khanzada Khan and Mohsin Aziz.USC Managing Director Gulzar Hussain Shah informed the committee that the ministry of industries and production would also constitute monitoring teams of other departments under its control to ensure the relief reaches to the deserving.
In addition, a separate operation room will be set up at USC Head Office, Islamabad, to receive complaints related to pricing, quality and non-availability of commodities at the outlets.
Hussain informed the committee that the USC would provide subsidy on 22 items to facilitate people during the holy month.
Talking about the distribution system, he said that the subsidised items would be available on 5,455 utility store outlets all across the country. In addition, the items would also be made available at 300 Ramazan Bazaars established all across Punjab.
He informed the committee that utility ghee/oil will be available from Rs 115-125 per kg compared to 125-175 per kg market prices, dall channa would be available at Rs 120 per kg compared to 150-160 per kg in the open market, dall moong (washed) at Rs 148 per kg compared to Rs170-180 per kg while dall mash (washed) would be available at Rs273 per kg compared to Rs280-290 per kg in the market.
Similarly, dall masoor would be sold at Rs115 per kg compared to Rs160-180 per kg in the market, white gram at Rs115 per kg compared to Rs160-180 per kg in the market, Basen at Rs120 per kg against Rs155-160 per kg, black gram at Rs110 per kg against Rs140-145 per kg, Sella broken at Rs40 per kg compared to Rs55-60 per kg whereas mash shell per kg would be available at Rs258 compared to Rs270-280 per kg.
Likewise, Masoor (whole) would be provided at Rs120 per kg against Rs145-155 per kg, dates at Rs160 per kg against 200-240 per kg, rice (super basmati) at Rs 72 per kg against Rs 80 to 100 per kg, rice (super sella) at Rs72 per kg against Rs80-100 per kg, broken rice would be available at Rs48 per kg against Rs55-60 per kg, squashes and syrups (1500ml) at Rs265 against Rs295, squashes and syrups (800ml) at Rs152 against Rs170, black tea at Rs603 per kg against Rs690 per kg, milk (tetra pack) at Rs102 liter kg against 110 per liter while all USC spices would be available on 10 per cent discount.
The MD USC said that as much as Rs1751.13 million subsidy would be provided on these items compared to subsidy of Rs 1134.272 million in 2015, Rs 1316.144 in 2014 and Rs 1795.791 in 2013.

Uganda Spends Shs367 Billion Monthly On Rice Imports - Official

By Stephen Otage
Kampala — Uganda spends about $105m (Shs367b) every month in transport costs to import rice from Pakistan, yet this money could improve the welfare of Ugandans, an outgoing minister has said.While signing off a farming partnership between rice farmers in the country and Kingdom Rice, a new rice milling factory on Tuesday in Namanve Industrial Park, outgoing State minister for Investment Gabriel Ajedra said Uganda has no reason to continue being ranked among poor countries of the world because the money Uganda loses to purchase and transport food like rice that can be locally grown here, explains the amount of money we waste as a country.
"Last week at the World Economic Forum, it was noted that in 2020, there is going to be a global food crisis and interestingly, Uganda was mentioned among the six countries in the world which can avert it if only they fixed their agricultural systems," he said.
Cost of transport
Explaining the Shs367b bill, Uganda Revenue Authority (URA) commissioner customs field services Stephen Magera, who attended the meeting said every month, URA receives 300,000 metric tonnes of rice imported from Pakistan and another 25,000 metric tonnes from Tanzania yet the cost of transporting a metric tonne of rice together with other logistical arrangement is $350 (Shs1.2m) without the actual cost of the rice.
On the same day, Uganda Development Bank and Kingdom Rice signed a Memorandum of Understanding in which the bank is going to capitalise the rice company to help it raise rice production in the country.

Asia Rice-Thai prices steady on limited supply, Vietnam rates ease