USA Rice Explores E-Commerce Potential in Chinese Market
By Sarah Moran
WASHINGTON, DC -- While the U.S. rice industry anxiously awaits
entry into the Chinese market, USA Rice is reaching out to various importers
and sellers of rice in the e-commerce business there. E-commerce is a
huge platform in China; last year, there were USD$744 billion in ecommerce
sales, a 40 percent increase from the prior year. Alibaba controls
about 60 percent of that market - the next largest company is JD.com with a 25
percent share.
Yesterday, USA Rice met with representatives from both
Alibaba and JD.com at the Alibaba office here to discuss U.S. rice production
and our interest in supplying rice to China in the very near future.
Asked about the prospect of new U.S. products being
permitted to enter the Chinese market, Mr. Jinghua Bao, the Logistics Planning
and Development Director of JD.com, outlined the logistics of selling
rice. "Since rice has a heavy weight but lower price point, it must
be subsidized by other products," said Mr. Bao. "If the
logistics work out and the price is right, this could work out."
"U.S. rice must differentiate itself from other
origins...it must be unique," said Mr. Ming Chen, the Logistics Director
for Alibaba's HeMa Fresh Gourmet Supermarket Chain. "If it is, then
price is not an issue."
While China is U.S. agriculture's largest export
market, U.S. rice has not yet been permitted to enter the ports. Two
months ago, a phytosanitary protocol was signed between the two countries
signaling the potential entrance of U.S. rice to the market. The next step
is an inspection of U.S. rice export facilities by Chinese phytosanitary
authorities that is expected to happen by the end of this year.
USA Rice is exhibiting at FHC China in Shanghai in
November; several attendees at yesterday's meeting said they look forward to
seeing USA Rice and our members there.
USA RICE Daily
Bangladesh to
import rice from Myanmar
September 19, 2017
DHAKA: Bangladesh will import 100,000 tonnes of white rice from
Myanmar at $442 a tonne in a state-to-state deal, the food minister said on
Monday, as it grapples with depleted stocks and record domestic prices.
The decision comes after Bangladesh finalised a deal to import
250,000 tonnes of white rice at $453 a tonne from Cambodia, following a
comparatively cheaper deal with Vietnam.
“It will take some time to complete formalities. Then shipment
will start,” the minister, Qamrul Islam, told reporters.
However, the latest deal comes amid worsening ties between the two
countries over the Rohingya refugee crisis.
Bangladesh, the world’s fourth biggest rice producer, has emerged
as a major importer of rice after floods hit crops.
High demand from Bangladesh could lift Asian prices that have
already hit multi-year highs in recent months.The state grains buyer is issuing
a series of tenders as it seeks to import 1.5 million tonnes of rice in the
year to next June.
It has imported 200,000 tonnes of white rice at $430 a tonne and
50,000 tonnes of parboiled rice at $470 a tonne from Vietnam in a
state-to-state deal.
The government started selling rice at a subsidised rate from this
week while last month it cut a duty on imports of the grain for the second time
in two months.
But prices of rice, a staple food for Bangladeshs 160 million
people, did not budge, posing a problem for the government which faces a
national election due next year.
The country produces around 34 million tonnes of rice annually but
uses almost all its production to feed its population, and often requires
imports to cope with shortages caused by floods or droughts.
https://www.dawn.com/news/1358537/bangladesh-to-import-rice-from-myanmar
Traders announce cuts in rice
prices
2017-09-19 16:29:02.0 BdST Updated: 2017-09-19 16:29:02.0 BdST
Traders have announced a reduction in the prices of rice after
receiving assurances from the government of ‘solutions to several problems’.
“Rice prices will fall by Tk 2-3 per kg
starting tomorrow,” said Bangladesh Auto Major and Husking Mill Owners
Association General Secretary KM Layek Ali after a meeting with three ministers
at the Secretariat on Tuesday.Minister of Commerce Tofail Ahmed, Minister of
Agriculture Matia Chowdhury, Minister of Food Kamrul Islam and former Food
Minister Abdur Razzak met with representatives from rice mill owners,
importers, wholesalers and retailers to address the recent spike in rice
prices.
“The relevant ministries will take action to remove these
problems,” Tofail said after a discussion that lasted over two hours.
The commerce minister also approved the use of plastic instead
of jute sacks for the import, production and distribution of rice for three
months.
“Get the rice however you can. We will relax the use of plastic
sacks for two to three months.”
Rice imports from India through Rohonpur will also be allowed,
said Tofail.
Two rounds of floods that damaged crops and depletion of rice
reserves have prompted the government to begin several rice import initiatives.
It has also cut rice import duties by 24 percentage points to encourage private
sector imports.
Though a record amount of rice has been imported by public and private
entities in the past two months, the price of rice has continued to rise. The
government has blamed the deception of traders for the market instability.
“It was a good meeting,” Bangladesh Auto Major and Husking Mill
Owners Association President Abdur Rashid told reporters. “Rice prices will
begin to fall in a few days.”
http://bdnews24.com/bangladesh/2017/09/19/traders-announce-cuts-in-rice-prices
Dhaka to
import 1 lakh tonnes rice from Myanmar
18.09.2017
Bangladesh has decided to import rice from Myanmar in face of
instability in the market of the prime staple and in the backdrop of Rohingya
crisis.
A decision to import 1 lakh metric tonnes of white rice has been taken up, food ministry officials told The Daily Star today on condition of anonymity.
The purchase will be made at USD 442 per tonne. The decision came following a meeting between a delegation of Myanmar and the food ministry last night.
Last month, Bangladesh faced a bout of instability in the rice market. The government was compelled to encourage exports from neighbouring countries.
Import duty on rice was brought down to two percent from the preceding 20 percent. But less than a month into such move, the price of rice has soared up again.
The government again stepped in and started the sale of subsidised rice under its open market sale programme from this week – selling Tk 30 per kg, Tk 20 less from that in the market.
Also, the decision to import rice from Myanmar comes in the backdrop of Rohingya crisis – the latest refugee toll pouring into Bangladesh rising to over 412,000.
Myanmar currently faces international condemnation for carrying out atrocities against the Rohingyas. Bangladesh is pressuring Myanmar to take back the Rohingyas.
Police chief warns hoarders
Bangaldesh’s police chief AKM Shahidul Hoque has warned strongly against rice hoarding.
He said police will take action against those found hoarding rice in a bid to create artificial crisis in the country. “On-field policemen have already been directed in this regarded.”
The inspector general of police (IGP) repeated the warning at a press conference in police headquarters today following repeated warning of the government against hoarders.
A decision to import 1 lakh metric tonnes of white rice has been taken up, food ministry officials told The Daily Star today on condition of anonymity.
The purchase will be made at USD 442 per tonne. The decision came following a meeting between a delegation of Myanmar and the food ministry last night.
Last month, Bangladesh faced a bout of instability in the rice market. The government was compelled to encourage exports from neighbouring countries.
Import duty on rice was brought down to two percent from the preceding 20 percent. But less than a month into such move, the price of rice has soared up again.
The government again stepped in and started the sale of subsidised rice under its open market sale programme from this week – selling Tk 30 per kg, Tk 20 less from that in the market.
Also, the decision to import rice from Myanmar comes in the backdrop of Rohingya crisis – the latest refugee toll pouring into Bangladesh rising to over 412,000.
Myanmar currently faces international condemnation for carrying out atrocities against the Rohingyas. Bangladesh is pressuring Myanmar to take back the Rohingyas.
Police chief warns hoarders
Bangaldesh’s police chief AKM Shahidul Hoque has warned strongly against rice hoarding.
He said police will take action against those found hoarding rice in a bid to create artificial crisis in the country. “On-field policemen have already been directed in this regarded.”
The inspector general of police (IGP) repeated the warning at a press conference in police headquarters today following repeated warning of the government against hoarders.
http://www.blackseagrain.net/novosti/dhaka-to-import-1-lakh-tonnes-rice-from-myanmar
Govt doubles OMS rice price to Tk
30 per kg
2017-09-17 19:44:03.0 BdST Updated: 2017-09-17
19:44:03.0 BdST
The government
has doubled the price of rice at trucks of its Open Market Sale or OMS
programme to Tk 30 per kilogram to adjust the market price.The government
decision came after the price of the staple food grain skyrocketed of late.
Flour will also be sold at the OMS trucks at Tk 17 per kg along with rice only
in Dhaka city. In the other district headquarters, only rice will be sold.Directorate
General of Food Director General Md Badrul Hasan told bdnews24.com, “Many days
have passed since the price of rice at OMS programme had been cut to Tk 15 from
Tk 24 a kg. It won’t be (reasonable) if we keep the price unchanged while
market prices have shot up.”
“We can’t keep a huge difference between the prices. It will raise the
possibilities of leakage and other problems,” he added.
This year’s OMS programme was scheduled to open across the
country on Sunday, but the trucks could not be seen at all district
headquarters.Hasan hoped the sale at OMS trucks would start at all the
designated places within a day or two.
According to him, 120 OMS trucks will sell two tonnes of flour and one tonne of rice in Dhaka. Outside the capital, 507 trucks will sell rice.
The government has fixed warehouse price of the OMS rice at Tk 28.5 per kg.
At a news conference on Sept 14, Food Minister Qamrul Islam said the price of OMS rice would be unchanged at Tk 15 per kg, but now the government has raised the price while opening the sale.
According to him, 120 OMS trucks will sell two tonnes of flour and one tonne of rice in Dhaka. Outside the capital, 507 trucks will sell rice.
The government has fixed warehouse price of the OMS rice at Tk 28.5 per kg.
At a news conference on Sept 14, Food Minister Qamrul Islam said the price of OMS rice would be unchanged at Tk 15 per kg, but now the government has raised the price while opening the sale.
http://bdnews24.com/economy/2017/09/17/govt-doubles-oms-rice-price-to-tk-30-per-kg
Rice harvest races start of autumn rains
Share
Issue Date: September
20, 2017
By Ching Lee
Rice harvest at this Sutter County farm started with a field of
short-grain rice last week. The earlier-maturing variety is typically one of
the first to be harvested in the Sacramento Valley.
Photo/Ching Lee
Photo/Ching Lee
After being held up by late spring
rains that led to a hectic planting schedule, California rice farmers have
begun harvesting what is expected to be a smaller crop.
With an estimated 458,000 acres in production this year,
California rice acreage declined by 78,000 acres from 2016, according to a
forecast this month from the U.S. Department of Agriculture. Farmers have
attributed that drop to the difficult spring weather that did not allow them to
finish on time.
"Everybody in the industry thought we were going to have a
big crop this year," said Sutter County rice farmer Greg Van Dyke.
"But with the type of weather we had, we just physically couldn't get in
and plant it."
He ended up leaving 40 percent of his normal acreage fallow
because it got too late in the season to plant the rest.
The late planting was also expected to push back the start of
harvest, which could put farmers at risk of early fall rains that could wreak
havoc on their crop. Farmers agree the number of sweltering days this summer
helped speed growth of the plants, but there are also concerns that the high
heat could lower yields.
"I don't think yields are going to be bad by any means; I
just think they're going to be slightly reduced from last year, which had very
good yields," Van Dyke said.
A smaller incoming crop could help firm up prices, he added,
noting the depressed rice market in recent years. Also boosting grower optimism
is the prospect of China, the world's largest consumer, opening its doors to
U.S. rice. A phytosanitary agreement reached by the U.S. and China in July is
expected to be particularly beneficial to California growers and millers, by
raising long-term export sales.
Van Dyke started harvest last week on a short-grain variety, which
has a shorter growing season than the state's predominant, medium-grain Calrose
variety and is typically one of the first to come off in the Sacramento Valley.
Colusa County farmer Brian Barrett said he expects some medium-grain
fields will begin cutting sometime next week, with harvest ramping up in
October, on par with typical harvest dates.
"I think (the crop) has caught up a little bit, but I think
it'll still be about a week behind where we were last year," he said.
His family managed to plant all their ground except for about 100
acres, which were covered by prevented-planting insurance. The option of the
indemnity, Barrett said, allowed farmers to focus on the fields they were able
to plant.
"It was like, let's do it right and get the best crop we
could," he said.
With half his acreage in the Yolo Bypass, which remained flooded
late in the season, Yolo County farmer Mike Hall said he left some 4,800 acres
unplanted. He completed harvest on about 2,000 acres of wild rice—another
short-season crop—more than two weeks ago, but he said some of his
later-maturing, medium-grain varieties won't be harvested until mid-October.
"When you start to get into October, you run the risk of late
October wind and rain that could knock (the plant) down," he said.
"We've encountered that before, where the yield was cut more than 50
percent when those fields just got wet and knocked down."
Because many fields were planted during a two-week window, Barrett
said if farmers try to harvest it all in a similar timeframe, it could
"make things hard" for dryers as they face a possible logjam.
Yuba County farmer Charley Mathews Jr., who expects to start
harvest sometime this week, said when there's late planting, farmers typically
scramble on the back end, with multiple varieties coming off at the same time.
"It's going to be a rush, but it always is," he said.
"We all harvest a lot faster than we used to."
Now that the weather has started to cool down, he said, it has
slowed progress of the crop.
Consecutive days of triple-digit temperatures this summer may
cause some yield losses, Barrett said.
During the heading stage of the rice plant, temperatures exceeding
104 degrees could dry out the pollen, thwarting fertilization, which leads to
blanking, or empty kernels, said Luis Espino, a University of California
Cooperative Extension farm advisor.
"And this year, I've seen some of that," he said.
"I don't know how widespread it is. It's going to depend on when the
panicles were coming out and the temperature at that time. I've seen some
fields where you can see can blanking, and I believe it's because of the high
temperature."
Blanking more often happens when temperatures below 55 degrees
damage the pollen when it is first formed, making it unviable, Espino said. But
this year, temperatures never dropped that low during that stage of the plant's
development, raising hopes that there would be less blanking and higher yields,
he said.
Aside from possible heat-related issues, Espino described the
overall growing season as "good," noting that he didn't see any blast
in fields and received few reports of it this year. However, there were more
reports of stem rot, a common fungal disease caused by a pathogen in the soil
that he said may be becoming more prevalent.
The pathogen overwinters in rice straw, and farmers used to manage
the disease by burning the straw after harvest. Because burning has been
greatly reduced for many years, Espino said he thinks the pathogen has
accumulated in some fields, leading to an increase in stem-rot problems.
Fungicides, he noted, have not been very effective.
Small infestations of weedy rice, or red rice, also are showing up
in more California fields, Espino said. As of the end of 2016, it had been
confirmed in more than 10,000 acres, according to UCCE.
Because the weed is considered one of the most damaging for rice
and can affect yield and quality significantly, Espino said farm advisors have
been "trying to spread the word and get growers to be on the lookout for
it."
"We want to make sure that if a grower finds something that
looks suspicious, they let us know," he said.
(Ching Lee is an assistant editor of Ag Alert. She may be
contacted at clee@cfbf.com.)
Permission for use is granted, however, credit must be made to the
California Farm Bureau Federation when reprinting this item.
http://agalert.com/story/?id=11189
Chinese scientists to help Pakistan
enhance rice production
APP
LAHORE: Chinese scientists are ready to help Pakistan in increasing rice
production, said Dr Wang, head of a delegation of Chinese scientists, during
their visit to Rice Research Institute at Kala Shah Kaku, on Monday.
Director of the Institute Dr
Muhammad Akhtar welcomed the visitors. Both sides stressed the need for
increasing liaison between the Rice Research Institute Kala Shah Kaku and
Chinese Long Ping Hi-tech for preparing rice varieties with higher yield.
Dr Muhammad Anjum Ali, a senior
official of the Punjab Agriculture Department, suggested promoting hybrid rice
varieties to increase per acre yield of paddy.
He said that hybrid varieties
will decrease the cost of production of the rice crop and ultimately increase
exports.
The delegation will visit all
rice producing areas and give recommendations its recommendations as well.
It will also visit Sindh,
Balochistan and Khyber-Pakhtunkhwa. In the next few days, the members will
reach Islamabad to prepare their recommendations and present them on Oct 11.
Dr Wang pledged to take every
possible step for the provision of better quality rice varieties. The
delegation will also take the local farmers and seed companies into confidence
China offers help in
boosting rice production
September 19, 2017
RRI Director Muhammad Akhtar welcomed the visitors.
Both sides stressed the need for increasing liaison between the Rice Research
Institute and Chinese Long Ping Hi-tech for preparing rice varieties with
higher yield.
Muhammad Anjum Ali, a senior official of the
Punjab Agriculture Department, suggested promoting hybrid rice varieties to
increase per acre yield of paddy. He said that hybrid varieties will decrease
the cost of production of the rice crop and ultimately increase exports.
The delegation will visit all the rice
producing areas and give recommendations.
Published in The Express Tribune, September 19th,
2017
https://tribune.com.pk/story/1510146/china-offers-help-boosting-rice-production/
Maldives refutes 'plastic' rice reports
Maldives Food and Drug Authority on Monday refuted reports of
'plastic' rice in the country, insisting that tests thus far have been
negative.
In a letter sent to Lily
International which is the importer of renowned rice brand 'Kohinoor', FDA said
investigation into reports had not revealed any traces of plastic in the rice
and eggs imported into the Maldives.
"But since such reports are a major concern for the people,
we would continue our investigation into the claims. We would also be keeping a
close eye on the rice imported into the country for traces of plastic,"
FDA said in its letter.Fake eggs feared to be made of plastic have caused panic
in India after they were recovered in large numbers from markets in some states
of the neighbouring country. India remains a key exporter of eggs to the
Maldives
FDA however insisted that no international authority including the World Health Organization (WHO) have officially confirmed the presence of plastic eggs or rice.
FDA however insisted that no international authority including the World Health Organization (WHO) have officially confirmed the presence of plastic eggs or rice.
https://avas.mv/en/38705
Decoded: How does bajra survives
extreme heat, drought
NEW
DELHI, SEP 19:
Scientists, including those from
India, have decoded the genome of bajra and discovered how the crop survives
high temperatures and drought, a finding that may help boost production of
other cereals in light of the impending global climate change and food crisis.
“Rising temperatures and
frequency of extreme climate events like heat waves in many parts of the world
will lead to a drop in major staple crop production,” researchers said.
A global team of 65 scientists
from 30 research institutions decoded and sequenced the bajra (or pearl millet)
genome and revealed critical coping strategies. The analysis has led to a
better understanding of the ability of this dryland cereal to survive soaring
temperatures of over 42 degrees Celsius and its exceptional drought tolerance.
The discovery published in the
journal Nature Biotechnology may help develop climate adaptation strategies in
other important food crops.
This research co-led by the
International Crops Research Institute for Semi-Arid Tropics (ICRISAT) in Telangana,
BGI-Shenzhen in China and the French National Research Institute for
Sustainable Development (IRD), used the latest innovations in DNA sequencing
and analysis.
The team identified new genetic
tools like molecular markers related to drought and heat tolerance, as well as
other important traits.
“The findings may boost efforts
to improve this crucial staple food for millions of people in arid and
semi-arid Africa and Asia in particular,” researchers said.
Pearl millet is a nutritious
drylands cereal, rich in protein, fibre and essential micronutrients like iron,
zinc and folate.
Nutrition studies have shown that
this cereal has the potential to fight iron deficiency, the most widespread
micronutrient deficiency and major cause of anaemia, affecting health and
development of a third of global population.
Pearl millet is grown on about 27
million hectares worldwide and is a daily food for more than 90 million people,
among the most vulnerable in arid and semi-arid Africa and Asia.
It is also an important source of
fodder for millions of farms. However, pearl millet yields have remained low
over the last six decades, as this cereal is mainly grown in poor soil
conditions without irrigation, minimal and no fertiliser and other agricultural
inputs.
“Investment in genetic research
for this crop has been inadequate and breeders had limited genetic information
to develop high yielding superior varieties and hybrids that respond to
farmers’ constraints,” researchers said.
“Most cereals like rice or maize
cannot support temperatures over 30 to maximum 35 degrees Celsius when they
start forming their grain, whereas pearl millet will fill its grain in air
temperatures of up to 42 degrees,” said Professor Rajeev Varshney from ICRISAT,
who coordinated the Pearl Millet Genome Sequencing Consortium.
“We have found that compared to
other cereals like wheat, rice or maize, pearl millet has a more diverse
repertoire of genes for natural wax proteins, which act as thermal protection
for the plant,” said Varshney.
Such heat resistance is crucial
as climate experts forecast further heat waves in years to come.
With the new biotechnology
methods, we can foresee the transfer of such heat and/or drought tolerance to
other important food cereals in a near future.
“This research will lead to
delivery of high yields of pearl millet in farmer fields in the marginal
environments in Africa and Asia,” said David Bergvinson, Director General of
ICRISAT.
“Identifying better genes for
heat tolerance in pearl millet can also help other crops like wheat, rice and
maize become more climate change ready, showing the importance of investing in
so called ‘orphan’ or neglected crops,” Bergvinson said.
Govt to procure
50,000 tons of rice from Thailand
The
government will procure 50,000 tons of non-bashmoti and parboiled rice from
Thailand through an international tender, official sources have said. The
Ministry of Food proposal to purchase the rice from M/S Sima Trading Company
will be placed at today’s cabinet committee meeting on public purchase, which
will be presided over by Finance Minister AMA Muhith.
The
proposal signed by Food Secretary Md Kaikobad Hossain fixes the cost per metric
ton of the staple at $438, while the total cost of the import stands at $21.9m
(Tk181 crore). According to a recent report of the Food Ministry, the
government has previously failed to import 300,000 tons of rice from Thailand
and India due to price differences between the two countries and the
international market. The proposal put the per unit cost of import from
Thailand at $464 and from India at $454 under the government-to-government purchases.
The
Food Ministry had aimed to procure one million tons of rice from international
markets to meet the current shortage in rice, which fell to a five-year low of
345,000 tons on September 14. Last month, the government signed two deals with
Vietnam and Cambodia to import 2.5 million tons of rice from each of the
countries. Earlier, Food Minister Md Qamrul Islam visited Myanmar to pave the
way for 10 million tons of rice to be imported over the next three years. On
Sunday and Monday, a visiting Myanmar delegate held talks over the issue
and decided on supplying 100,000 tons of non-boiled rice under the current
government-to-government purchase at a per ton cost of $442.
The
Food Ministry’s recent report reveals that Bangladesh has become a surplus state
in rice production, but this year is an exception due to natural disasters like
flooding. Qamrul Islam also acknowledged on Tuesday the failure of internal
collection campaign, which he also blamed on the floods. According to the
ministry source, the minister set a target of 800,000 tons of rice collection
internally in the current Boro season but by September 10, only 250,000 tons
had been collected.
The
minister earlier announced that the government will procure 1.6 million tons of
paddy, rice and wheat, of which 78% was not achieved. After the
inter-ministerial meeting of Food and Expenditure Committee on August 16,
Qamrul told reporters that the target of harvesting 19.1 million tons of Boro
paddy was not achieved due to floods in haor and other areas. “I did not buy
the plan to procure 700,000 tons of rice and 800,000 tons of wheat,” he said.
Former
food secretary Abdul Latif Mondal told the Dhaka Tribune that the Ministry of
Food made a “big mistake” by not taking necessary steps at the beginning of the
crisis. He said it was too late when the import initiative was taken, and by
that time the reserves ended. “The Food Ministry depends heavily on paper
information about the production,” Latif said, adding that this situation is
associated with other issues that have been brought together at a time. He
added that rice price might come down a little by Tk5 in November, which will
still affect the lower-income groups.
http://www.dhakatribune.com/business/commerce/2017/09/20/govt-procure-50000-tons-rice-thailand/
Rice basmati weakens on muted demand
New Delhi, Sep 19 (PTI) Barring a
slide in rice basmati prices on subdued demand from retailers, rest other
grains held steady at the wholesale grains market today. Traders said sluggish
demand from retailers against sufficient stocks position mainly weighed on
prices. In the national capital, rice basmati Pusa-1121 variety eased to Rs
5,500-5,550 against last close of Rs 5,550-5,600 per quintal. Following are
today’s quotations (in Rs per quintal): Wheat MP (desi) Rs 2,100-2,350, Wheat
dara (for mills) Rs 1,765-1,770, Chakki atta (delivery) Rs 1,770-1,775, Atta
Rajdhani (10 kg) Rs 260-300, Shakti Bhog (10 kg) Rs 255-290, Roller flour mill
Rs 950-960 (50 kg), Maida Rs 990-1,000 (50 kg)and Sooji Rs 1,030-1,040 (50 kg).
Basmati rice (Lal Quila) Rs 10,700, Shri Lal Mahal Rs 11,300, Super Basmati
Rice Rs 9,800, Basmati common new Rs 6,800-6,900, Rice Pusa (1121) Rs
5,500-5,550, Permal raw Rs 2,200-2,225, Permal wand Rs 2,250-2,275, Sela Rs
2,300-2,400 and Rice IR-8 Rs 1,850-1,875, Bajra Rs 1,190-1,195, Jowar yellow Rs
1,400-1,450, white Rs 2,800-2,900, Maize Rs 1,310- 1,315, Barley Rs
1,430-1,440.
http://www.india.com/news/agencies/rice-basmati-weakens-on-muted-demand-4-2482081/
Traders promise lowering rice
prices soon
| Update: 19:25,
Sep 19, 2017
The country’s businessmen have said the prices
of rice would be lowered by Tk 2/3 per kg in the next few days after a meeting
with the government on Tuesday.The announcement came after the business leaders
and the government reached a consensus over the issue during the meeting at the
food ministry.According to the business leaders, the government agreed to allow
businesses to use plastic bags and to help quicken release of rice-carrying
trucks stuck at land ports.
The business leader then protested the
government allegations and said the crisis was created due to the government’s
policies and failure to take timely decision over the issue.
As
Bangla imports surge, rice becomes costly
The prices of common rice varieties in West Bengal have increased by 10-20 per cent at the miller’s end in recent weeks. Bangladesh has imported 600,000 tonnes in the last five weeks
Panic over potential foodgrain shortfall and
opportunistic trading in Bangladesh have sent the price of rice soaring on both
sides of the border.Over the last three weeks, the price of common rice
varieties in West Bengal increased by 10-20 per cent at the miller’s end. The
price of Swarna has gone up from ₹22 a kg to ₹27 a kg, Ratna from ₹28 to ₹30 and
Minikit from ₹32 to ₹35. Retail prices are ₹2 to ₹5
higher.The buzz in the market is that prices will increase further after Durga
Puja next week. Reason: The sudden rise in demand from Bangladesh, which
reduced import duty from 28 per cent to 2 per cent in phases between June and
August.
According
to customs sources, approximately 2,300-2,400 tonnes of rice is exported to
Bangladesh from West Bengal every day; taking the total to over 600,000 tonnes
in the last four-five weeks. This is as much as the annual imports of
Bangladeshi traders in 2014-15.The intensity of trade can be understood from
the fact that Bangladesh imported roughly 700,000 tonnes of rice in the whole
of 2014-15. At least 230 trucks are crossing the Petrapole border, which hasn’t
seen rice exports for nearly five years.The rise in prices is yet to catch the attention of the West Bengal government. “We will assess the situation,” State Agriculture Minister Ashis Banerjee told BusinessLine.
Opportunistic trading
The most confusing part of the whole story is that despite such heavy imports, the price of rice continues to rise in Bangladesh. The price of Minikitrose by around 18 per cent from approximately Taka 55 a kg to Taka 65 a kg in the retail market, says Golam Mortoza, editor of Dhaka-based Sapthahik.
That is not all; Bangladesh’s media was abuzz last week with fictitious news of export restriction by India. The Sheikh Hasina government in Dhaka, however, was quick to describe the reports as “fabricated” and blame opportunistic trading for the crisis.
‘Vested quarters are trying to create an artificial food crisis’ Bangladesh’s Commerce Minister Tofail Ahmed was quoted saying by ‘The Daily Star’ of Dhaka.
He is not entirely wrong; Bangladesh achieved self-sufficiency in rice production during the last five years with production reaching 34.5 million tonnes in 2015-16. Accordingly the government buying from overseas markets has also stopped.
However, private buying continued till 2015, when Bangladesh raised import duties to a steep 28 per cent to protect domestic farmers.
The situation tilted in favour of the traders due to a perceived 300,000-tonne production shortfall this year due to climatic conditions and flooding. To mitigate this, the government planned up to 600,000 tonnes.
However, Dhaka failed to implement the import plan till Sunday when it struck an agreement with Myanmar to import 100,000 tonnes of rice in three years.
Slashing the import duty sent panic waves and traders took full advantage of the sentiments.
The mismanagement on the part of Bangladesh came as a windfall opportunity to traders in Bengal. The rice industry in the State was affected for the last five years due to the drop in Bangladeshi imports.
West Bengal produced 15.9 million tonne (mt) of
rice in in 2016-17 against an estimated domestic demand of 14.5 mt. Apparently,
therefore, the state has enough stocks even after supplying 600,000 rice to
Bangladesh. Yet prices are spiralling.
Nasdaq
Cabinet approves B87 bn to help rice
19 Sep 2017
at 16:14 4,174
WRITER:
REUTERS
Rice paddies are pictured in Ban Mae
Tia in Chom Thong District of Chiang Mai. (Bangkok Post photo)
The cabinet on Tuesday approved
three loan a
nd subsidy programmes for rice farmers, to help stabilise prices
and reduce oversupply of the grain.The three programmes are worth a total of 87
billion baht and include 73 billion baht for loans and subsidies for rice
farmers already approved by the rice management committee earlier this month.The
73 billion baht spending programme will cover 3.7 million households and span
the seasonal harvest from the start of November this year to the end of
February 2018.
The remaining money will be used for
loans and subsidies for agricultural institutes and business to stockpile rice.The
three programmes are designed to stockpile 12.5 million tonnes of rice.The
measures were approved during the mobile cabinet meeting in Ayutthaya.
https://www.bangkokpost.com/business/news/1327255/cabinet-approves-b87bn-to-help-rice-farmers
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