Today Rice News Headlines...
Huge surge in prices of essential items witnessed
June 13, 2016
A huge surge in prices of essential commodities
of daily use including fruits, vegetables, sugar, pulses, and rice, has been
reported during the holy month of Ramazan, according to a survey conducted by Business
Recorder here on Sunday.The unchecked price of essential food items has
irked the consumers. They have demanded of the authorities concerned to take
prompt action against hoarders and profiteers, and to implement official price
list.Traders in the KP's provincial capital said that prices had gone up due to
gap between supply and demand. They said there was no significant increase in
prices in current holy month of Ramazan as compared to the last year's prices.
A one-kilogram gram flour (baisin) is available at Rs 150, while dates are being sold at Rs 250 and Rs 280 per kg. Basmati rice is being available at Rs 110 and Rs 100 per kg. Sugar price now ranges between Rs 65 per kilogram, as compared to Rs 62 per kilogram before the beginning of the holy month of Ramazan. Syrups and juices, widely used in Ramazan, are being sold at sky-high rates in retail market, according to the survey.
A one-kilogram gram flour (baisin) is available at Rs 150, while dates are being sold at Rs 250 and Rs 280 per kg. Basmati rice is being available at Rs 110 and Rs 100 per kg. Sugar price now ranges between Rs 65 per kilogram, as compared to Rs 62 per kilogram before the beginning of the holy month of Ramazan. Syrups and juices, widely used in Ramazan, are being sold at sky-high rates in retail market, according to the survey.
It was noticed that the price of big white
Channa are sold at Rs 180 per kilogram, as compared to Rs 110 during last
month. Dal Chana's per kg price was Rs 135 per kilogram, Dal green available at
Rs 140 per kg, while Red bean is being sold at Rs 120 per kg, moong at Rs 140
per kg. Dal Mash has become further costlier with Rs 270 per kg, and white
lobiya at Rs 120 per kg.Price of cooking oil/ghee of various brands and
varieties were ranged between Rs 120 to Rs 180, while ghee prices also
witnessed unjustifiable increase in month of Ramazan.
The survey witnessed that five kilogram potatoes are being sold at Rs 150 due to increasing demand in the holy month. Last month the 5 kg potatoes were available below Rs 100 in wholesale market. Five kilogram onion being available at Rs 150 while ginger at Rs 200 per kilogram. With increasing demand in hot and humid weather, the price of lemon has soared to Rs 200 per kilogram.Other veggies such as ladyfinger being sold at Rs 40 per kg, cauliflower at Rs 60 per kilogram, capsicum at Rs 80 per kilogram, calabash at Rs 40 per kg, tori at Rs 40 per kg, and cabbage at Rs 100 per kilogram.
The survey witnessed that five kilogram potatoes are being sold at Rs 150 due to increasing demand in the holy month. Last month the 5 kg potatoes were available below Rs 100 in wholesale market. Five kilogram onion being available at Rs 150 while ginger at Rs 200 per kilogram. With increasing demand in hot and humid weather, the price of lemon has soared to Rs 200 per kilogram.Other veggies such as ladyfinger being sold at Rs 40 per kg, cauliflower at Rs 60 per kilogram, capsicum at Rs 80 per kilogram, calabash at Rs 40 per kg, tori at Rs 40 per kg, and cabbage at Rs 100 per kilogram.
Since the beginning of holy month of Ramazan,
the price of fruit has become sky-high due to no-check by authorities
concerned. Amid rising demand of fruits, a manifold increase witnessed in the
prices of almost all fruits. Apple is being sold at Rs 120 to Rs 150 per
kilogram, mango available at Rs 100 to Rs 120 per kg, melon at Rs 30 per kg,
banana at Rs 100 per dozen, water melon at Rs 100 to Rs 120 per piece.According
to survey, the price of flour has also surged since the beginning of the holy
month of Ramazan, as a 20-kg bag of mix flour available at Rs 720, while bag of
fine atta, weighting (20-kg) being sold at Rs 780 and Rs 800 in retail.
Fresh milk is being sold at Rs 90 to Rs 100 per litre - while price of milk powder of various brands and quality had also risen in the retail market. One kilogram fresh yogurt is being sold at Rs 90 to Rs 100.
Fresh milk is being sold at Rs 90 to Rs 100 per litre - while price of milk powder of various brands and quality had also risen in the retail market. One kilogram fresh yogurt is being sold at Rs 90 to Rs 100.
Seed facility nears completion as Rice Expo approaches
STUTTGART — The University of Arkansas System Division of Agriculture is preparing to open its new Foundation seed facility for operation in early August.The $8.6 million facility will be part of the Rice Research and Extension Center at Stuttgart. Glenn Bathke, program director at the center, said the new facility will be key in making varieties of rice, soybean and wheat foundation seeds, developed by Division of Agriculture researchers, available to seed companies for purchase.
“This is a giant leap forward from our original seed processing facility, which was built in 1951,” Bathke said. “It’s much safer and efficient.”
The facility will manage the certified foundation seeds produced by the Division of Agriculture, which require inspections throughout the entire process, from the field to the point of sale, Bathke said. The facility will be capable of processing as much as 250 bushels of seed an hour, including pre-cleaning, cleaning, sizing and other steps in ensuring the high quality of as many as 25 varieties of seed each year.
“We’ll be able to handle more varieties as well, so we can keep our seed portfolio updated much more effectively,” Bathke said.
Bathke said technicians for machinery involved in the seed handling process are currently onsite to help manage the installation process. There is still plenty of work to be done before the scheduled Aug. 9 ribbon-cutting ceremony, he said, but things are moving according to plan.
Tours of the facility will be included as part of the 2016 Arkansas Rice Expo, taking place Aug. 10, based at the Grand Prairie Center in Stuttgart.
For more information about the 2016 Arkansas Rice Expo, contact the Rice Research and Extension Center at 870-673-2661, or a local Cooperative Extension Service agent.
http://pbcommercial.com/news/area-digest/seed-facility-nears-completion-rice-expo-approaches
Rice export slumps in second quarter
Rice export volume in the first quarter this year posted a strong year on year growth but drastically dropped in the first two months of the second quarter, reported the Vietnam Food Association (VFA).Farmers reap rice in the Mekong Delta (Photo: SGGP)
Rice export volume and value grew 57.6 percent and 51.1 percent over a year back in the first quarter, high compared to annually average level for the same period.The increase was thanked to contracts signed in 2015, especially Government to Government (G2G) deals with Indonesia and the Philippines and a large number of commercial deals with China.According to the VFA, the strong growth in the first quarter and drought have affected rice productivity and output in the Mekong Delta and highly increased domestic rice prices.
Therefore, exporters have offered higher prices than those from India, Pakistan and Thailand. Vietnamese rice price was US$10-20 a ton higher than Thai rice. This has caused many businesses hesitate and not sign new export contracts.
Commercial contracts especially from China drastically fell while G2G contracts nearly ran out in April and May, resulting in volume drop to below the annually average level of 600,000.
The strong fall has sent Vietnam to reduce rice export norm in the second quarter from 1.8 million tons to 1.5 million tons.
However with current situation, the second quarter is likely to export about 1.3-1.4 million tons, the lowest for the same period of the last several years. The VFA forecast that the number will approximate only 450,000 tons in June.
Total export volume thus might reach 2.7-2.75 million tons in the first half this year. http://www.saigon-gpdaily.com.vn/Business/2016/6/119252/
Possible new rice varieties subject of field days
Jun 10, 2016
Photo: Bruce Shultz, LSU AgCenter
One or
two breeding lines of rice will be chosen this year for seed increases that
could result in the first variety release for new rice technology called
Provisia.At field days in Vermilion Parish and in Jefferson Davis Parish in May, LSU AgCenter rice breeder Steve Linscombe said whatever is selected will undergo a seed increase in Puerto Rico this winter for a possible release in 2017. “The good news is by 2018, we should have plenty of seed available.”
He said Provisia will provide farmers with an alternative technology to fight red rice, extending the viability of Clearfield rice, which has allowed farmers to control red rice.
The first Clearfield variety was released in 2002, but outcrosses of red rice with the Clearfield trait have been causing farmers problems in recent years, and Provisia is expected to control those problems.
The new technology discovered by BASF has been in development for the past four years.
Linscombe also said he will identify one or two lines of Clearfield Jazzman this year for seed increases in Puerto Rico this winter, and a new variety could be chosen next year.
AgCenter weed scientist Eric Webster told farmers that Provisia can be rotated with soybeans and Clearfield rice to control outcrosses and weedy rice.
Weed control
He also said a new Dow product, Voyant, is being tested for rice with good potential as a broad spectrum herbicide that can control broadleaf weeds, aquatic plants as well as grasses.He said flatsedge is showing resistance to Permit herbicide, but the weed can be controlled with Facet, Prowl and Sharpen.
Delta Farm Press Daily
AgCenter
plant pathologist Don
Groth said many Louisiana rice farmers planted earlier than usual
this year, and that should result in less disease pressure.He said cutbacks in fertilizer could mean reduced disease outbreaks. “The more nitrogen you have, the more diseases.”
He said blast and sheath blight disease has been light this year.
Groth warned farmers that Cercospora disease is becoming resistant to propiconazole fungicide. A rate of 6 ounces per acre provided good control at one time, but now 9 to 12 ounces are needed. Sercadis is a good alternative chemical, he said.
AgCenter rice breeder Adam Famoso told farmers about new equipment at the Rice Research Station that will allow screening of thousands of lines of rice for genetic traits related to disease resistance and grain quality. But he said the equipment will not replace field testing of rice lines.
Low prices
At the Vermilion Parish Field Day, AgCenter economist Michael Deliberto said increased rice acreage this year means low prices will continue for 2016.He said that more than 3 million acres were expected to be planted this year, a 17 percent increase over the 2015 total. The acreage in the largest rice-growing state, Arkansas, has been estimated at more than 1.6 million acres, he said.
With good yields on the increased acreage, he said, abundant rice supplies will keep prices suppressed.
But, he said, long-grain exports have been on the increase to Latin American countries, including Mexico, the largest U.S. rice customer.
Rice research
Linscombe said checkoff funds paid by farmers result in research to help grow better crops. “Those funds certainly give us much more stability in trying to come up with new techniques for your operations.”He also thanked farmers Kent Lounsberry near Lake Arthur and Jimmy Hoppe near Fenton, for providing land to conduct off-station research. The Lounsberry farm has hosted the work for 32 years, and the Hoppe farm has made a research field available for 20 years
http://deltafarmpress.com/rice/possible-new-rice-varieties-subject-field-days
Kharif paddy sowing begins in Sundargarh
Published: 13th June 2016 06:42 AM
Last Updated: 13th
June 2016 06:42 AM
ROURKELA:
SOWING of paddy seeds for kharif crop has begun amid sporadic rainfall in
rain-fed Sundargarh district. The sowing activity, however, will gain momentum
only after the three-day break of Raja festival.In fact, farmers have rested their hopes on the forecast of good monsoon. But in the event of monsoon playing truant, there will not be much irrigation support as all water bodies, including four medium irrigation dams, are running dry.
According to Odisha Rainfall Monitoring System (ORMS), in June, the district has so far received average rainfall of 32.64 mm against the month’s normal figure of 237.4 mm. The rainfall was scattered and not all blocks received showers.
Farmers said at many places, ‘kharudi buna’ has been completed and seeds were sown on dry ploughed land in anticipation of germination after rain. Similarly, at several other places, ‘baturi buna’ is underway. In this process, the paddy seeds sown once grow in soil moisture.
They said seed sowing would continue till Monday and farmers would take a break of three days from all sorts of farming operations for Raja festival.
Sundargarh-based Deputy Director of Agriculture (DDA) K N Mohapatra said ideally seed sowing continues till first week of July.
Hoping that monsoon would be good as forecast, he asked the farmers not to panic. However, agriculture authorities and farmers said barring the last kharif crop season, monsoon predictions in previous years were not accurate.
Incidentally, in this kharif season, paddy cultivation target has been kept unchanged at 2.13 lakh hectares, but farmers are encouraged to go for crop diversification on upland.
The target for cultivation of non-paddy crops is about one lakh ha. The district has about 1.63 lakh ha, 95,000 ha and 55,000 ha upland, medium-land and low-land respectively.
http://www.newindianexpress.com/states/odisha/Kharif-paddy-sowing-begins-in-Sundargarh/2016/06/13/article3479819.ece
Iran to ban rice imports from July 21
6/13/2016
DUBAI,
June 13 (Reuters) - Iran will ban rice imports fromJuly 21, the agriculture minister was quoted as saying by the
Tasnim news agency on Monday, aiming to protect domestic farmers
during their harvest.
Mahmoud Hojjati said Iran has imported 191,000 tonnes of
rice this year, noting imports are already down from previous
years.
http://www.agriculture.com/markets/newswire/iran-to-ban-rice-imports-from-july-21
Stockpiled rice to be sold via G2G deals
PETCHANET PRATRUANGKRAI
THE NATION
June 14, 2016 1:00 am
THE Commerce Ministry will continue to focus on government-to-government (G2G) contracts for the release of rice from stockpiles, as well as general rice auctions in the second half of the year after opening a big-lot bid for 2.24 million tonnes tomorrow.
Duangporn Rodphaya, director-general of the Foreign Trade Department, said the government would continue to release rice from the stockpiles in the second half as it foresaw high demand due to drought in many countries, resulting in lower production.
There are still about 10 million tonnes of rice in the government stockpiles, including the 2.24 million tonnes up for auction tomorrow.
"The government will [send officials] to South Africa and Mozambique to sell rice under G2G [contracts], and will gradually consider open bidding for rice during the rest of the year," she said.The government also plans to sell rice to Indonesia and the Philippines under G2G contracts.
Meanwhile, China has asked for a postponement of negotiations to purchase 1 million tonnes of rice as Chinese officials are not available. Previously, the meeting was set for this coming Friday.However, Chutima Bunyapraphasara, permanent secretary of the Commerce Ministry, said China would soon set up a new appointment and continue its plan to purchase rice under a G2G contract
http://www.nationmultimedia.com/business/Stockpiled-rice-to-be-sold-via-G2G-deals-30288110.html
Is Bird-Friendly Beer
Possible?
By Paul Baicich
Special to USA Rice Daily
OXEN HILL, MD -- It's not as
outlandish as you might think. A
"bird-friendly beer" really depends on how you look at beer
ingredients and if they have content that actually helps birds.
Well, we are in luck. And whether you are a beer fan or not, this
may be of interest.
Ingredients in beer may vary
culturally in such countries as the Netherlands, Japan, Mexico, Great Britain,
and Belgium, but in the U.S. most brands of beer have used barley as the main
ingredient in brewing. It's the
"adjunct" ingredients that may now draw our attention. "Adjunct" refers to any beer
ingredient other than malted barley used to contribute sugar for fermentation
(including sugar itself) in making beers.
Mass market beers, and even
craft beers, use these adjunct ingredients.
They can include wheat, rye, oats, corn, and rice. Of these, one element surely stands out:
rice.
Since rice in the United
States is the most bird-compatible, mass-produced, popular crop in the country,
it deserves special consideration.
Although the total acreage of rice grown in the U.S. (c. 2.8 million
acres) may be less than that used by some other crops - corn, soybeans, wheat,
cotton, and sorghum, for example - rice is actually critical for our wetland
birds.
Today, American rice farms,
many of them family farms, serve as "surrogate wetlands" to
supplement natural wetlands that have decreased over time. Rice production creates a modest but
essential replacement ecosystem, helping to ameliorate losses of native wetland
habitat. It's important for waterfowl,
shorebirds, long-legged waders, rails, and many other species.
Separating rice at
processing mills results in "head rice" (whole-grain) and different
grades of broken kernels, or "brewer's rice." In the past, most broken rice in the U.S.
went to the beer industry. Today, most
of the rice going into beer is whole-grain, while the dog-food industry uses
much of the broken rice.
Used properly in production, rice lightens the color and body of
beer. It has been used much like corn
has in beer, but it helps produce a drier product. Rice is very much about clean and dry
drinkability. This may not be to your
own particular taste, but pale lager still dominates the U.S. beer market, and
grains that make beer lighter seem to be essential for most makers of pale
lager.
Currently, Budweiser uses
rice in its production. Indeed, the
Budweiser bottle labels announce the rice content: "Brewed by our original
process from the choicest hops, rice, and best barley malt." Among the larger brewers, Coors also uses
rice, reportedly less so. But with some
of the biggest beer brands in the country - consider Budweiser, Miller, and
Coors - now owned by foreign investors, the future of beer here is still in
flux. At the same time, local craft
beers continue to grow, with some of them using rice in the brewing process.
So far, no major brand has
pitched itself as a bird-friendly beer, but perhaps it's only time before that
happens. And, yes, experts say that one
could probably make beer from 100 percent rice, but it probably would be very
bland!
Consider rice and wetland
birds the next time you order up a brew or go shopping for a six-pack. Paul J.
Baicich is a bird-watching and conservation writer and editor, and an
avitourism consultant. He recently
coauthored (with M. Barker and C. Henderson) Wild Bird Feeding in America:
Culture Commerce, and Conservation (2015, Texas A&M University Press).
USA Rice Daily
Rabobank-led fund to buy minority stake in Parijat
IANS | Jun 13, 2016, 03.42 PM IST
Mumbai, June 13 (IANS) Rabo
Equity Advisors, the investment advisors for the $200-million India Agri
Business Fund-II, have announced around Rs 100 crore investment in Parijat
Industries by the fund to acquire a minority stake, a company statement
said.
Parijat is an Indian agrochemical player with a presence in 70 countries, six international offices and exclusive distribution networks in India, West Africa, Russia and members of the Commonwealth of Independent States.
"Parijat is looking to achieve sales of Rs 15,000 million (Rs 1,500 crore) by 2021 and also expand its domestic distribution network to 10,000 retail points in three years from 4,500 at present, thereby expanding its presence through the country," the statement said.
"Parijat is also recognised in the industry for introducing and promoting new-age molecules."
India Agri Business Fund-II is a $200 million private equity fund targeted at expansion and growth of food and agribusiness companies in India across the value chain. It is sponsored by Rabobank along with anchors such as CDC Group and the Asian Development Bank.
This is the second investment by India Agri Business Fund-II, close on the heels of the first one announced last week in the food condiments sector.
"We are especially excited at the company's export forays and new products expected to be launched in the domestic market over the next few years," said Rajesh Srivastava, Chairman and Managing Director of Rabo Equity Advisors.
Parijat is an Indian agrochemical player with a presence in 70 countries, six international offices and exclusive distribution networks in India, West Africa, Russia and members of the Commonwealth of Independent States.
"Parijat is looking to achieve sales of Rs 15,000 million (Rs 1,500 crore) by 2021 and also expand its domestic distribution network to 10,000 retail points in three years from 4,500 at present, thereby expanding its presence through the country," the statement said.
"Parijat is also recognised in the industry for introducing and promoting new-age molecules."
India Agri Business Fund-II is a $200 million private equity fund targeted at expansion and growth of food and agribusiness companies in India across the value chain. It is sponsored by Rabobank along with anchors such as CDC Group and the Asian Development Bank.
This is the second investment by India Agri Business Fund-II, close on the heels of the first one announced last week in the food condiments sector.
"We are especially excited at the company's export forays and new products expected to be launched in the domestic market over the next few years," said Rajesh Srivastava, Chairman and Managing Director of Rabo Equity Advisors.
"Our team at Parijat is committed to exponentially growing its
domestic presence besides the international footprint," said Keshav Anand,
Chairman and Managing Director of Parijat, adding the company hoped to leverage
Rabo Equity domain knowledge and global outreach in business.
Rabo Equity Advisors, a subsidiary of Rabobank, currently advises
two funds in India. The first fund has a $120 million corpus, that has been
invested in 10 companies across sectors like biotechnology, warehousing, edible
oils, dairy and basmati rice, the company said.
Some of the existing portfolio companies are Prabhat Dairy, LT
Foods, and Vacmet. Rabo Equity has an exclusive knowledge sharing agreement
with Rabobank which gives it unfettered access to the vast knowledge pool and
network of Rabobank.
ED, IT to probe multi-crore scam in export of Basmati rice
PTI | Jun 13, 2016, 04.47 PM IST
New
Delhi, Jun 13 () The Enforcement
Directorate (ED) and Income Tax (IT)
department will probe the over Rs 1,000-crore scam in export of high-quality
Basmati rice to Iran which was fraudulently diverted mid-sea to Dubai.Both the agencies have been asked by a Supreme Court- appointed Special Investigation Team to track the money which has been laundered through the export besides zeroing in on its beneficiaries, official sources said today.
The Directorate of Revenue Intelligence (DRI), which has unearthed the scam, has shared relevant details of the case with the SIT, which is now monitoring the probe, they said.
The SIT, headed by former Supreme Court judge M B Shah, is responsible for investigating cases of black money stashed within and outside the country.
Over two lakh metric tonnes of Basmati rice was illegally offloaded in Dubai, during 2014-2015, instead of Bandar Abbas in Iran, the sources said.
At least 25 big exporters from Haryana and Punjab are under the scanner of probe agencies for their involvement in the multi-crore scam. Both ED and IT have been asked to look into the case, they said.
Explaining the modus operandi, the sources claimed the rice would be taken to Gujarat's Kandla Port by these exporters. They would then file shipping bills--documents filed with customs authorities carrying details of goods to be exported, consignor and consignee--for export to Iran.
Instead of the consignment reaching Iranian shores, it would be diverted mid-sea to Dubai allegedly with connivance of cargo ship operators carrying the goods.
Surprisingly, payments were also made from Iran to these exporters in India. Importers and port officials would allegedly acknowledge the receipt of rice and allow payment to be made against it here, they said.
Agencies are clueless about the end-use of rice off-loaded in Dubai and suspect misuse of the proceeds through the commodity to fund some illegal activity like terror financing, the sources said.
Minister of State for Finance Jayant Sinha had recently informed the Parliament about the scam.
"Directorate of Revenue Intelligence has detected cases of diversion of Basmati rice export wherein consignments of rice meant for Iran were diverted to Dubai.
"The payments for the said goods were received in Indian
Rupees instead of freely convertible foreign currency, by misusing the
facilities granted to the goods actually exported to Iran," Sinha had said
in a written reply to Lok Sabha. AKV
AMS ZMN AMS
Could eating Weetabix prevent early death? Harvard scientists think so...
Monday, June 13, 2016
Eating
whole grains – such as brown rice, oats and Weetabix – could prevent an early
death, research suggests.Experts at Harvard found just one 16g serving per day
of whole grain cuts the risk of dying from any cause, heart disease or cancer.
And, they argued, the more whole grains people eat, the bigger the benefits. Their
analysis of studies showed that for every single serving (16g) of whole grains,
there was a 7% drop in risk of death from any cause, a 9% drop in death from
cardiovascular disease and a 5% drop in the chance of dying from cancer.
Three
servings of cooked brown rice a day could reduce the risk of death (from any
cause) by 20% (Matthew Mead/AP)
When
three servings (48g) was eaten daily, people had a 20% lower chance of dying
from any cause, a 25% reduced risk of a cardiovascular death and a 14% reduced
chance of dying from cancer. The research was published in the journal of the
American Heart Association. A slice of whole grain bread acts as one serving, while two Weetabix (37.5g) is just over two servings.
Two
Weetabix contains just over two servings of whole grains (Clive Darra/Flickr)
Half a
cup of cooked brown rice or 100% whole grain pasta also count as one serving. Experts agree that people do not eat enough whole grain foods and fibre.
The recent Eatwell Guide published by Public Health England (PHE) says people should consume 30g of fibre per day from fruit, vegetables and whole grain foods.
Experts
believe just one 16g serving per day of whole grain cuts the risk of dying from
heart disease or cancer (Danny Lawson/PA)
Currently
people only consume around 19g of fibre per day – less than two-thirds the
recommendation. Previous studies have shown that whole grains can help reduce
the risk of heart disease, stroke, obesity and Type 2 diabetes. In the latest
analysis, 12 studies were included from the US, Scandinavia and the UK. The
combined studies involved 786,076 men and women and included 97,867 total
deaths, 23,597 deaths from cardiovascular disease and 37,492 deaths from
cancer. Currently people only consume around 19g of fibre per day (Diana House/Flickr)Qi
Sun, assistant professor in the department of nutrition at the Harvard TH Chan
School of Public Health in Boston, who led the research, said low-carbohydrate
diets that ignore the health benefits of whole grains foods “should be adopted
with caution”.He said they may be linked to a higher risk of cardiovascular
disease and death. “Based on the solid evidence from this meta-analysis and numerous previous studies that collectively document beneficial effects of whole grains, I think healthcare providers should unanimously recommend whole grain consumption to the general population as well as to patients with certain diseases to help achieve better health and perhaps reduce death,” he said.
Rabobank-led fund to but majority stake in Parijat
Rabo Equity Advisors, the investment advisors for the $200-million India Agri Business Fund-II, has announced around Rs 1,100-crore investment into Parijat Industries by the fund to acquire a minority stake, a company statement said.
By: IANS | Mumbai | Published: June 13, 2016 2:24 PM
Rabo Equity Advisors, a subsidiary of Rabobank, currently advises
two funds in India. (Reuters)
Rabo
Equity Advisors, the investment advisors for the $200-million India Agri
Business Fund-II, has announced around Rs 1,100-crore investment into
Parijat Industries by the fund to acquire a minority stake, a company
statement said.Parijat is an Indian agrochemical player with a presence in 70 countries, six international offices and exclusive distribution networks in India, West Africa, Russia and members of the Commonwealth of Independent States.
“Parijat is looking to achieve sales of Rs 15,000 million (Rs 1,500 crore) by 2021 and also expand its domestic distribution network to 10,000 retail points in three years from 4,500 at present, thereby
expanding its presence through the country,” the statement said.
“Parijat is also recognised in the industry for introducing and promoting new-age molecules.”
India Agri Business Fund II is a $200 million private equity fund targeted at expansion and growth of food and agribusiness companies in India across the value chain. It is sponsored by Rabobank along with anchors such as CDC Group and the Asian Development Bank.
This is the second investment by India Agri Business Fund II, close on the heels of the first one announced last week in the food condiments sector.
“We are especially excited at the Company’s export forays and new products expected to be launched in the domestic market over the next few years,” said Rajesh Srivastava, Chairman and Managing Director of Rabo Equity Advisors.
“Our team at Parijat is committed to exponentially growing its domestic presence besides the international footprint,” said Keshav Anand, Chairman and Managing Director of Parijat, adding the company hoped to leverage Rabo Equity domain knowledge and global outreach in
business.
Rabo Equity Advisors, a subsidiary of Rabobank, currently advises two funds in India. The first fund has a $120 million corpus, that has been invested in 10 companies across sectors like biotechnology, warehousing, edible oils, dairy and basmati rice, the company said.
Some of the existing portfolio companies are Prabhat Dairy, LT Foods, and Vacmet. Rabo Equity has an exclusive knowledge sharing agreement with Rabobank which gives it an unfettered access to the vast knowledge pool and network of Rabobank
APEDA AgriExchange Newsletter - Volume 1493
International
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06/13/2016 Farm Bureau Market Report
Soybeans
High
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Low
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Cash Bids
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1184
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1117
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New Crop
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1181
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1124
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Riceland Foods
Cash Bids
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Stuttgart: - - -
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Pendleton: - - -
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New Crop
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Stuttgart: - - -
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Pendleton: - - -
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Futures:
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Soybean Comment
Soybeans closed lower today as the market is beginning to worry
about additional acreage being added to U.S. soybean acreage. Soybeans remain
at strong levels thanks to continued strong; however, additional acreage could
put supplies at a surplus and begin to push prices lower. Soybeans remain
oversold and need bullish demand news to continue in order to support prices.
High
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Low
|
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Cash Bids
|
508
|
469
|
New Crop
|
494
|
469
|
Futures:
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Wheat Comment
Wheat closed lower as prices failed to get the necessary support
from other market. Wheat continues to face bearish fundamentals which are
limiting wheats ability to move higher.
High
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Low
|
|
Cash Bids
|
388
|
368
|
New Crop
|
376
|
350
|
High
|
Low
|
|
Cash Bids
|
434
|
408
|
New Crop
|
431
|
415
|
Futures:
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Corn Comment
Corn prices closed higher today as weather remains the main support
factor for corn. In addition to the weather concerns private estimates are
beginning to forecast lower acreage making the market bullish about the
upcoming acreage report. If acreage were to decline and weather forecast remain
dry the market will become concerned about supplies. With short South American
crops the market needs a normal U.S. Crop.
Futures:
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Cotton Comment
December cotton charted a huge bearish reversal today after failing
to challenge last week’s spike high of 66.45 cents in early dealings. Uptrending support
is near 62.30 cents currently. In last week’s report, USDA forecast weaker
cotton mill use in the U.S. The USDA continues to forecast U.S. Cotton stocks
at more than 4 million bales this year and next. Global demand remains sluggish
despite a 1.7 million bale decline in global stocks primarily caused by a 2
million bale decrease in China cotton stocks, which were the result of lower
production forecasts, not increased demand.
High
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Low
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Long Grain
Cash Bids
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- - -
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- - -
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Long Grain
New Crop
|
- - -
|
- - -
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Futures:
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Rice Comment
Rice futures were under pressure today but traded in a fairly
narrow range. The USDA supply/demand report did show an increase in short and
medium grain rice exports, but also forecast an increase in long grain rice
imports. With forecast for another big crop in 2016/17, rice needs to see
additional demand develop as we approach the fall. The USDA is forecasting
sharp increases next year over the current year, however, export sales are
still lackluster.
Futures:
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Live Cattle:
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Feeders:
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Cattle Comment
Cattle prices closed sharply lower today as the cash market is
beginning to weaken. Over the last few weeks strong cash prices have privided
support for cattle as beef prices remain week. With slow demand and weakening
cash cattle prices, futures could see further weakness this week and retest
lows at 116.45 for live cattle and 139.77 for feeder cattle.
Futures:
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