9th May,2018
Daily Global Regional Local Rice E-Newsletter
mujahid.riceplus@gmail.com
A perfect storm
I for one dread the day when I will go to a bank and it will not
be able to cash my cheque, and so should everyone else
MAY 8, 2018
The Supreme Court of Pakistan recently gave its judgement on land
procurement in Karachi’s Bahria Town. The judgement was quite comprehensive,
and is considered case law now. Sale and purchase of land in Bahria Town is
illegal ab initio. However, this development
failed to garner much attention in mainstream media. Only one mainstream
English daily carried the story, and the English media was also eerily quiet.
This is strange, considering the implications this case could have. The
litigation pile up in civil courts will likely go through the roof, but that is
another topic for another time. There are also incalculable economic
implications.
In 2007, a mortgage crisis triggered the worst recession seen by
the global economy since the Great Depression. It all started in the real
estate and housing sector. The housing bubble burst leading to mortgage
delinquencies and foreclosures. This internal meltdown in the US economy’s real
estate sector triggered a shock wave hitting all economies except perhaps
China’s due to the cushions of insulation. Pakistan was also hit by this
worldwide wave. Even today, the global economy is struggling to stabilize
itself. This is an oscillation pattern which follows global economic crises.
Pakistan’s economy is resting — or more illustratively —
contained within the real estate bubble. Investments in real estate are one of
the few growth industries in Pakistan. The service sector’s GDP contribution
amounts to55.6 percent and industry a mere 19.6 percent. The service sector
intrinsically follows capital flows (according to data available with Pakistan’s
Ministry of Finance in 2016). Our trade deficit stands at $25.5 billion
according to OEC estimates.
Pakistan’s major exports are varieties of textile and rice. The
only major manufacturing industry is textile. Excuse the pun — but we are only
spinning yarn. This narrow dependency creates huge economic vulnerability.
Dampening of demand in the global market will hit this industry very hard,
resulting in amplification of stress across the whole economy. Therefore due to
the vulnerability of textile — or the manufacture sector in general — capital
flows are directed towards real estate. Services just follow.
In 2007, a mortgage crisis
triggered the worst recession seen by the global economy since the Great
Depression. It all started in the real estate and housing sector
A cadastral survey of Pakistan was last done decades ago. It is
the only method that legally defines the real property boundaries. Many changes
have taken place since. Properties have been divided due to inheritance and
sold out multiple times. In truth, no one in Pakistan should be too sure that
they own whatever piece of land they think is theirs. Therefore, the land
record computerisation based on existing property demarcation may be a trifle
off the mark. The data entered in flashy computers does not matter if it is all
wrong. This is a property speculators ‘perfect storm’.
The civil side of the legal system also has its role to play in
further muddying these murky waters. There is a pattern in which civil cases go
through the Revenue Bureaucracy all the way to the top; from the Tehsildar till
the Board of Revenue member for years, until they finally land at the bottom of
the Civil Court. All this takes years. On average, the case pendency time in
civil cases is intergenerational. It is also said axiomatically and sadly that
90 percent of land ownership is based on who actually holds the qabza on
the ground. This huge legal anomaly is accepted as a norm in Pakistan, as some
form of perverted reassurance. But is it legal? More importantly, is it moral?
This land speculator and grabber friendly environment is at a
high risk of becoming a literal economic black hole. The SC’s decision will
eventually come to the media’s attention, creating a perfect recipe for market
panic. As Fredric Hayek described, the market behaves like a spontaneous human
organisation, acting instinctively. The real estate market’s capital flows may
suddenly dry up as the court order and its implications are comprehended. Then
panic selling will ensue. This will inevitably result in defaults and
foreclosures. This will destroy lives. As the bubble bursts, so will honest
people’s honest investments. This economic implosion will not only affect the
propertied class, in fact it will be the non-propertied class which is effected
the most. The loss of small businesses and daily jobs will be devastating for
low income households.
The subprime crisis in the US was mitigated by a bailout package
of $168 billion by US government to manage market liquidation. Do we have that
kind of money? If not, then it is the responsibility of the Government to work
out a solution to solve this impending national crisis. It will not matter who
rules Islamabad or Lahore or Karachi or even Peshawar and Quetta. The storm is
brewing and it will not discriminate. The state of denial will help no one. The
real estate sector needs to be managed through legislation, reform, regulation,
taxation and all that can be mustered from the basket of Government actions. I
for one dread the day when I will go to a bank and the bank will not be able to
cash my cheque, and so should everyone else.
The writer can be reached at kashifnoon69@gmail.com
https://dailytimes.com.pk/237182/a-perfect-storm-3/
NFA completes bidding for rice imports
07.05.2018 | UkrAgroConsult
The National Food Authority (NFA) has finally
awarded the supply of 250,000 metric tons (MT) of rice imports to the
governments of Vietnam and Thailand after a reopening of offers.
The two governments lowered their offers to
match NFA’s adjusted reference prices after the failure of the first bidding
conducted last April 27.
NFA’s reference price for the second bidding
was set at $531 per MT for the 15 percent broken and $520.50 per MT for the 25
percent broken rice, based on the prevailing world market prices and the
peso-dollar exchange rate as of May 3, 2018.
However, the agency’s spokesman, Rex Estoperez
said that the country may have secured lower prices if the bidding was allowed
to be done earlier.
“That is what we call as the complexity of NFA
operations. Decision should always be on time. We should have imported that
towards the last quarter of last year,” he expressed.
The NFA also mentioned that the import prices
could have been lower if more countries were allowed to join aside from Vietnam
and Thailand. The agency said that the governments of India, Pakistan and
Myanmar submitted their letters of intent to join the bidding but is still
being reviewed by the Department of Foreign Affairs up to now.
Vietnam offered to supply 80,000 MT of 25
percent broken rice at $517.50 per MT and 50,000 MT of 15 percent broken rice
at $520 per MT.
Meanwhile, the government of Thailand
initially offered $520 per MT for the supply of 120,000 MT of 25 percent broken
rice, but adjusted its bid to match Vietnam’s $517.50 per MT for the same
volume.
“We are happy that we have successfully
completed the bidding for this initial NFA rice import of 250,000 MT so that we
can immediately replenish our buffer stock and bring back our P27 per kg and
P32 per kg NFA rice back in the markets,” NFA administrator Jason Aquino said.
After a notice of award is given, NFA said the
two supplying countries have four working days to post a performance bond
before they can secure a notice to proceed that will allow them to start
loading and shipping the rice.
Of the total volume, Thailand will bring in
60,000 MT of 25 percent broken rice not later than May 31, and the balance of
60,000 MT not later than June 15.
On the other hand, Vietnam will bring in
40,000 MT of 25 percent broken rice not later than May 31, and another 40,000
MT not later than June 15. The 50,000 MT of 15 percent broken rice will be
shipped by Vietnam to the designated ports not later than June 30.
The 25 percent broken rice will be loaded to
the ports of Poro Point in La Union, Subic,Batangas, Tabaco, Iloilo, Bacolod,
Cebu City, Tacloban, Zamboanga City, Cagayan de Oro, Davao City, General Santos
City, Manila and Surigao City.
For the 15 percent broken rice, designated
ports are Subic, Cebu City, Davao Cityand Manila.
After completing the government to government
deal, NFA is already preparing for the procurement of another 250,000 MT of
rice that will be under an open tender scheme, where supply could come from any
country and suppliers could be from either the private or government sector.
Interested suppliers may acquire bid documents
at the NFA’s special bids and awards committee secretariat in its central
office in Quezon City until May 21, 2018, for a fee of P75,000.
Tractor Work Gears Up on the Rice Farm!
Tractor
work starts on the rice farm thus kicking off the 2018 crop year. We are
breaking ground with our tractors, prepping the soil to plant rice seed. We are
running a Case Magnum 340 and two Case Magnum 260 tractors. Each tractor has a
chisel plow, used to rip the ground deep. This is the first step in preparing
the soil, turning it into a rice field. 🔴 Subscribe! Stay updated with California rice production: https://goo.gl/pOjVfO Please share this episode if you
found it entertaining and/or educational. Rice Farming TV aims to promote the
US rice industry through dynamic and educational videos that range from rice
production to the family life of a rice farmer. 🔴 Recommended Playlist "Rice Farming TV | Starting at
Episode 1": https://goo.gl/j25ujs ✅ Please contact me with any questions or feedback. I will
make an effort to respond within 24 hours.
Watch Video on https://www.youtube.com/watch?v=fdbJjEiX-jk
https://www.youtube.com/watch?v=fdbJjEiX-jk
Rice, corn output up in first quarter of 2018
08.05.2018
Some 4.7 million metric tons of rice is produced between January
to March of this year, up 6.8% from the same period last year. Corn production
is at 2.5 million metric tons, gaining some 4.2% year-on-year.Rice and corn
production improved during the first quarter of the year, according to
Agriculture Secretary Manny Piñol.
Some 4.7 million metric tons of rice were produced between January to March of this year, up 6.8% from the same period last year. Corn production was at 2.5 million metric tons, gaining some 4.2% year-on-year.The Department of Agriculture (DA) attributed the growth to farmers' increased adoption of modern technologies.
“Farmers now use good quality seeds. There is now greater awareness and they realize that using quality seeds can increase their harvest two-fold,” said Piñol.The DA is also confident that the country is on track to hit the 97% target of rice sufficiency this year.“We don’t want to go beyond that because we don’t have a program on how to export our rice. Prices will fall in the market, farmers could take a hit if we have an oversupply,” Piñol said.
Output figures may be stable, but several factors in play have made life harder for farmers. For instance, the Philippine Rice Research Institute (Philrice) says farmers earned 10% less because of the implementation of the tax reform law.The agriculture chief says he is in favor of increasing “to an extent” the farmgate price of palay."I favor increasing [the farmgate price], but we cannot just carelessly bring it up to a level where consumers will be affected," Piñol said.According to the Philippine Statistics Authority, the average farmgate palay price is at P20.79 per kilogram, as of May 2, up 0.39% the average price two weeks ago.
Moreover, consumers still took a hit despite the steady supply, due to the low supply of affordable rice.
Last week, the National Food Authority awarded the supply of 250,000 metric tons of rice imports to Vietnam and Thailand to remedy the issue.To encourage farmers to sell their produce to the NFA, the DA is planning to reward them with farm implements and machinery."If they sell around 20 metric tons [of palay], you will have one power tiller," Piñol added.
Some 4.7 million metric tons of rice were produced between January to March of this year, up 6.8% from the same period last year. Corn production was at 2.5 million metric tons, gaining some 4.2% year-on-year.The Department of Agriculture (DA) attributed the growth to farmers' increased adoption of modern technologies.
“Farmers now use good quality seeds. There is now greater awareness and they realize that using quality seeds can increase their harvest two-fold,” said Piñol.The DA is also confident that the country is on track to hit the 97% target of rice sufficiency this year.“We don’t want to go beyond that because we don’t have a program on how to export our rice. Prices will fall in the market, farmers could take a hit if we have an oversupply,” Piñol said.
Output figures may be stable, but several factors in play have made life harder for farmers. For instance, the Philippine Rice Research Institute (Philrice) says farmers earned 10% less because of the implementation of the tax reform law.The agriculture chief says he is in favor of increasing “to an extent” the farmgate price of palay."I favor increasing [the farmgate price], but we cannot just carelessly bring it up to a level where consumers will be affected," Piñol said.According to the Philippine Statistics Authority, the average farmgate palay price is at P20.79 per kilogram, as of May 2, up 0.39% the average price two weeks ago.
Moreover, consumers still took a hit despite the steady supply, due to the low supply of affordable rice.
Last week, the National Food Authority awarded the supply of 250,000 metric tons of rice imports to Vietnam and Thailand to remedy the issue.To encourage farmers to sell their produce to the NFA, the DA is planning to reward them with farm implements and machinery."If they sell around 20 metric tons [of palay], you will have one power tiller," Piñol added.
The Impact of the Growing
Reliance on Overseas Food Supplies in Egypt
9 MAY 2018
Egypt, the world’s second-largest importer of wheat, behind Indonesia, could soon also be an importer of rice.
The two crops are staple grains in Egypt. Rapid population growth, climate
change and the filling of the Grand Ethiopian Renaissance Dam (GERD), have
raised concerns about the security of water supplies in the foreseeable future.
This concern has seen the Egyptian Government implement a national strategy for
resources, to last from 2017 until 2037, with a focus on reducing the farming
of water-intensive crops.
As an import-dependent country, Egypt has a volatile economic
landscape, where GDP growth is moderate, but unemployment remains high.
Purchasing power has declined due to inflation and a consumer tax and currency
fluctuations have increased domestic prices. Becoming ever more reliant on food
imports, Egypt is increasingly susceptible to changes in global commodity
markets, which could lead to negative impacts on economic growth and to social
unrest.
Comment
Ethiopia is preparing to fill the 79 billion cubic metre GERD,
which is expected to have pronounced ramifications for Egypt’s already scarce
water supplies. Egypt and Ethiopia have been at cross purposes, not being able
to agree on the time frame for filling the dam. Egypt’s irrigation ministry has
estimated that if the dam is filled in three years the reduced water flow could
destroy 51 per cent of Egypt’s farmland, compared to a 17 per cent loss over
six years. This loss of farmland would hinder crop production and reduce food
security.
Egypt is already facing severe food security implications, as a
consequence of a scarcity of water and resources that has been magnified by
climate change. The World Food Programme states that approximately 16 per cent
of the population (95 million) has poor access to food. Water scarcity,
desertification and urbanisation have led to decreased domestic crop production
and Egypt has become highly dependent on food imports.
The Food and Agriculture Organization estimates that Egypt will
import 11.7 million to 12 million tonnes of wheat in the 2017/18 financial
year. The United States Department of Agriculture estimates that Indonesia, in
the same financial year, will import approximately 12.5 million tonnes of
wheat, due to changing dietary habits. If those estimates are accurate, Egypt
will no longer be the world’s largest wheat importer, a position it has held
since 2007/08. Egypt’s dependability on wheat imports is highly volatile,
however, due to its current economic situation and the global commodity market.
It could, therefore, return to that position as the world’s leading wheat
importer.
In 2014, the Egyptian Government commenced rolling out an
economic reform programme, with the aim of invigorating the economy. The reform
programme led to a gradual increase in the growth rate of GDP, which reached
5.2% in 2017/18. Despite recent modest economic growth, the unemployment rate
remains high at 11.3%. High rates of unemployment can be directly linked to
increasing levels of poverty affecting the ability of families to purchase
food. Currency fluctuation and consumer tax reforms have put further pressure
on society, through inflation and reduced purchasing power.
A volatile Egyptian economy is susceptible to fluctuations in
global commodity prices. Egypt, already an import-dependent country, has been
attempting to narrow its trade deficit; however, if wheat prices were to
increase, the deficit could potentially expand. On a larger scale, if the wheat
supply is restricted due to poor yields, unexpected weather events or export
bans, a food security crisis could occur. The 2010 Russian wheat export ban,
for example, was a result of drought causing global prices to rise, which
triggered social unrest and contributed to the Arab Spring.
Rice, like wheat, is a staple food source in Egypt and it has
been forecast that Egypt could become a rice importer by 2019. Due to water
scarcity, desertification, increased levels of soil salinity and the reduced
flow of water in the Nile, the government has introduced a national strategy
for water resources for the period 2017 to 2037. According to Hossam el-Emam, a
Ministry of Irrigation spokesperson, one of the main pillars of the strategy is
to rationalise water use by reducing the cultivation of water-intensive crops.
The government has announced that only 750,000 acres of rice can be planted
this year, approximately half of the area cultivated in 2017.
The logical expectation is that the reduced production of rice
will lead to higher domestic market prices, which will impact on the already
vulnerable lower to middle income classes. It will also see Egypt become ever
more dependent on imports to ensure food security.
As Egypt trends toward an increased reliance on importing these
crops, a negative impact on economic growth could be experienced. Although, at
first glance, relying on imports for food security does not seem like a serious
fundamental issue, it becomes a problem when the import costs take money away
from key development agendas. It becomes a bigger problem, when the food
security dilemma is still not completely resolved. It can also be foreseen that
if a crisis does occur, whether caused by trade bans or unprecedented climatic
events, social unrest could result, causing political instability.
Any opinions or views expressed in this paper are those of the
individual author, unless stated to be those of Future Directions
International.
Published by Future Directions International Pty Ltd.
80 Birdwood Parade, Dalkeith WA 6009, Australia.
Tel:+61 8 9389 9831 Fax:+61 8 9389 8803
http://www.futuredirections.org.au/publication/impact-growing-reliance-overseas-food-supplies-egypt/
Global Rice Seed Market Growth by
2023: Dupont Pioneer, Bayer, Mahyco, Kaveri and Nuziveedu Seeds
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supports the growth of the Rice Seed market and has its uniqueness in the
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The deep study includes the key Rice Seed market outline,
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Socorro Barner
Socorro Barner has been into market research industry for last 4
years. She has a keen interest and deep knowledge of research industry. She
worked as an Research Analyst in GlobeMertix. Her goals in life are simple - to
stay happy, healthy and to keep writing as long as she possibly can. https://dailyassessment.com/2018/05/09/global-rice-seed-market-growth-by-2023-dupont/https://dailyassessment.com/2018/05/09/global-rice-seed-market-growth-by-2023-dupont/
Yield10
Researchers Publish Research in Plant Science Showing that Novel Transcription
Factors Represent a Promising Approach for Increasing Crop Productivity
May 08, 2018 08:30 ET| Source: Yield10 Bioscience,
Inc.
WOBURN, Mass., May 08, 2018 (GLOBE
NEWSWIRE) -- Yield10 Bioscience, Inc. (Nasdaq:YTEN), a Company developing new technologies to
create step-change improvements in crop yield to enhance global food security,
today announced the publication of peer reviewed research showing that novel
global transcription factors (GTFs) found in plants represent a promising
approach for increasing crop productivity. The research paper has been
published in Plant Science, an international
journal of experimental plant biology.
“In this paper, we describe in
detail for the first time the identification of two novel plant global
transcription factors for which modulating their activity boosts key parameters
of photosynthetic efficiency and significantly increases plant biomass,” said
Kristi Snell, Ph.D.,Chief Science Officer at Yield10 Bioscience, Inc. “Through
this work, we have determined that these transcription factors are widely distributed
across plant species and may represent valuable gene targets for increasing
crop yield. Our C4000
series of traits are based on this foundational research,
allowing us to identify a series of genome-editing targets to improve
performance in key commercial crops. We are currently working on these targets
in rice and wheat, and expect to expand into corn this year.”
The Yield10 research
paper is titled “Novel Transcription Factors PvBMY1 and PvBMY3
increase biomass yield in greenhouse grown switchgrass (Panicum virgatum L.).”
Yield10 refers to these transcription factors as the C4001 and C4003 trait
genes, respectively. The objective of the research was to identify global
regulatory genes associated with photosynthesis and related carbon metabolism
with the goal of identifying candidate genes that would enable increased carbon
fixation and efficient carbon capture in biomass. The authors describe the
identification of two previously uncharacterized global transcription factor
genes (GTFs).
Yield10 found that using genetic
engineering to increase the activity of the GTF genes in switchgrass plants
resulted in large increases in photosynthesis and biomass yield. The C4001 gene
increased biomass production by 75-100% in leaves and stems as compared to
control plants. Expression of C4003 in switchgrass resulted in a total increase
in biomass of 100-160% in leaves and stems as compared to control plants.
Increasing biomass yield is important for forage crops such as sorghum, silage
corn, and alfalfa. Further, Yield10 also observed increases in root biomass
upon expression of C4001 and C4003.
The researchers identified genes
closely related to C4001 and C4003 in major food and feed crops including corn,
soybean, and rice. In corn, the equivalent C4001 and C4003 genes were found to
be expressed in a broad range of maize tissues with the highest levels in the
tissue of seeds 12 and 16 days after pollination, suggesting that C4001 and
C4003 genes may be good targets for increasing seed yield.
The authors of the Plant
Science paper include Madana M.R. Ambavaram, Aminat Ali,
Kieran P. Ryan, Oliver Peoples, Kristi D. Snell and Maria N. Somleva, all of
Yield10.
About Yield10 Bioscience
Yield10 Bioscience, Inc. is focused
on developing new technologies to achieve step-change improvements in crop
yield to enhance global food security. Yield10 has an extensive track record of
innovation based around optimizing the flow of carbon in living systems.
Yield10 is leveraging its technology platforms and unique knowledge base to
design precise alterations to gene activity and the flow of carbon in plants to
produce higher yields with lower inputs of land, water or fertilizer. Yield10
is advancing several yield traits it has developed in crops such as Camelina,
canola, soybean and rice. Yield10 is headquartered in Woburn, MA and has an
Oilseeds Center of Excellence in Saskatoon, Canada.
For more information about the
company, please visit www.yield10bio.com.
(YTEN-G)
Safe Harbor for Forward-Looking
Statements
This press release contains
forward-looking statements which are made pursuant to the safe harbor
provisions of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements in this release do not constitute guarantees of
future performance. Investors are cautioned that statements in this press
release which are not strictly historical, including, without limitation, the
use of technology to successfully identify targets for increasing crop yield
and progress by Yield10, constitute forward-looking statements. Such forward-looking
statements are subject to a number of risks and uncertainties that could cause
actual results to differ materially from those anticipated, including the risks
and uncertainties detailed in Yield10 Bioscience's filings with the Securities
and Exchange Commission. Yield10 assumes no obligation to update any
forward-looking information contained in this press release or with respect to
the matters described herein.
Contacts:
Yield10 Bioscience:
Yield10 Bioscience:
Lynne H. Brum, (617) 682-4693, LBrum@yield10bio.com
Investor Relations:
Amato and Partners, LLC
admin@amatoandpartners.com
Amato and Partners, LLC
admin@amatoandpartners.com
Media Inquiries:
Eric Fischgrund
Fischtank Marketing and PR
eric@fischtankpr.com
Eric Fischgrund
Fischtank Marketing and PR
eric@fischtankpr.com
Logistics agency introduces barcode system to
monitor commodities
Stefanno Reinard Sulaiman
The Jakarta Post
Jakarta | Wed, May 9, 2018 | 10:38 am
State Logistics Agency (Bulog) president director
Budi Waseso (Antara/Wahyu Putro A)
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In a bid to ensure the availability
of food stocks ahead of the Ramadhan fasting
month starting next week, the government has introduced the use of
a barcode system to monitor an online database of commodities. The
system was launched on Sunday.
State Logistics Agency (Bulog) president
director Budi Waseso said on Tuesday that the system could prevent hoarding.
“The use of barcodes is to control the sales of commodities. The system
will detect anyone who buys too much [of a certain commodity],” he said.
“The system operates just like in the [modern]
retail market.” There are at least five main commodities under Bulog’s
supervision; rice, meat, sugar, fish and soybeans.Medium-quality rice was the
cheapest on the market, Budi said, adding that it could even be lower than
the price ceiling decided on by the Trade Ministry last year
of Rp 11,000 (78 US cents) per kilogram on average.
“We can change any regulations as long as it is
for the benefit of society,” he argued.
Apart from introducing the barcoded 5 and 10
kilogram packages of medium-quality rice, Bulog also introduced smaller
packages of 200-gram medium quality rice to be sold at small kiosks, he added.
Meanwhile, to ensure the distribution of rice
across the country, Budi said that the agency had teamed up with regional
governments, the Indonesian Military (TNI) and the National Police (Polri).
During the holy month, the problem of food
scarcity usually emerges because of foul play by suppliers seeking
to disrupt distribution to get higher prices. (bbn)
NPLs will bottom out this year, says CIMB Thai CEO
May 08, 2018 16:00 pm +08
This article first appeared in The Edge Malaysia Weekly,
on April 30, 2018 - May 06,
2018.
CIMB Group Holdings Bhd’s asset quality has improved
substantially in Indonesia but pressures persist in Thailand, based on the
recently-released first quarter financial performance of the group’s
subsidiaries in those two markets.
On April 20, CIMB Thai Bank PCL reported a 39% year-on-year
improvement in first quarter net profit to THB168.9 million. However, gross
non-performing loans (NPL) went up 6.5% q-o-q to THB11.4 billion, which led to
its gross NPL ratio increasing 40 basis points to 5.2%.
This is higher than the Thai banking industry’s gross NPL ratio
of about 3%.
CIMB Thai president and CEO Kittiphun Anutarasoti tells The Edge
he expects the bank’s NPLs to bottom out this year. He says the NPL ratio is
likely to improve to below 5% this year as it looks to sell more NPLs.
“I think this year we’ll probably see a bottoming out already.
We have looked at our portfolio very closely and right now, run very tight
asset quality management. We think that all the problems have already been
identified. This year, we should see lower provision compared to last year,” he
says in his first one-on-one interview with Malaysian media.
“The NPL ratio, we will try to manage it down to below 5%. NPL
ratio is [measured] against the loan book, so if the loan book doesn’t grow as
fast, then you need to manage down the NPLs. There are two ways to manage down
NPLs — one is through restructuring and the other is though a sale. This year,
we are planning to sell some of the NPLs to manage the number,” he adds.
Last year, CIMB Thai sold some THB5 billion in NPLs over three
tranches. Two tranches were sold to external parties, and the other was to an
entity within CIMB Group in a deal that was done on an arm’s length basis, he
says.
CIMB Thai plans to sell less than that this year, but the timing
of the sale is unclear for now, Kittiphun says. Other Thai banks too have been
selling NPLs to manage their asset quality, and as such there has been an
influx of supply in the market.
“I’d like it to be as soon as possible, but I really can’t
confirm the timing yet. Because of the influx of supply, we’re not seeing very
good bids in terms of pricing, so we have to basically keep trying,” he explains.
CIMB Group bought into the Thai bank, then known as BankThai,
back in November 2008 and became its controlling shareholder two months later.
CIMB Thai, the ninth largest by assets in the country, is now a 93.7%-owned
subsidiary.
Kittiphun took the helm of CIMB Thai in late 2016, when asset
quality issues were pervasive in the industry, particularly among SMEs and in
the agriculture sector. Upon joining, he and the team identified “weak quality
loans” that could potentially turn bad.
“The ones that went bad last year and the beginning of this year
were the ones that were on our list,” he remarks.
CIMB Thai had been saddled with a number of legacy bad loans
from the BankThai days. “These were in a variety of sectors. But the newer NPLs
in the last two years were just in two or three main sectors. We had issues
with rice millers last year … but most of these have been impaired already,” he
says.
He predicts that the bank will face some issues with a few
companies in the rubber sector “beginning this year and perhaps towards the
middle of this year”.
“Three or four years ago when the price of rubber had gone up,
there were significant investments by these players. Now, when the price is not
as strong as it used to be, some are facing liquidity issues. So we’re seeing a
few [accounts] that are more likely than not going to turn into NPL this year,”
he says.
However, the bank’s expectation continues to be that NPLs will
bottom out from this year. “This year, there could be some more [NPLs] to go,
but that should be sorted out by the third quarter of this year,” he says.
He says CIMB Thai’s asset quality is in line with that of the
market. “If you watch other Thai banks’ asset quality, their NPLs are also
ticking up, but they manage the overall number by selling their NPLs and
non-performing assets. There was a massive supply of NPLs in the market last
year. But we’re seeing that NPL issue bottoming out this year, hopefully.”
It was only last year that CIMB Thai returned to a full-year net
profit of THB385 million after having slipped into a loss of THB630 million in
FY2016.
Economists expect Thailand’s economy, which had seen sluggish
growth since late 2013 due to political unrest, to improve further this year
from 3.9% growth last year. Kittiphun says the improvement in the economy has
so far yet to really funnel down to the general population.
“In Thailand, up until about three years ago, loan growth used
to be 1.5 times to 2 times GDP growth. But for the last three to four years,
loan growth is not even 0.5 times GDP growth. However, now that the private
sector is starting to look a bit more positive in terms of their investment
plan, I think we’ll probably start to see more private sector investments in
Thailand and that should lead to higher loan growth,” he says.
He aims for the bank to grow loans by about 5% this year after
3.2% last year. “The growth for us will be mostly from wholesale and retail
loans. We’re making a conscious effort to de-risk our commercial banking
portfolio because of the asset quality issues, so that may actually drag the
growth down a bit,” he says.
Thai transformation plan
According to Kittiphun, the bank has internally launched a
five-year transformation plan this year in a bid to become a more relevant
player. Without revealing too much, he says the plan involves diversifying its
loan portfolio and scaling up consumer loans significantly.
As at end-March 2018, its gross loan book stood at about THB213
billion, of which about 54% comprised consumer loans and the rest, wholesale
and commercial loans.
“The bank has set a five-year aspiration to try to become a
mid-tier bank, which means that for the next 12 to 24 months, we have to build
the right infrastructure, build the right capability for the bank to grow on a
very strong foundation. So this year, we’re investing quite a bit on product
capability. In the SME sector, for example, we’re building credit underwriting
tools and monitoring tools,” he says.
He adds: “We’ve found that in the past, when we had asset
quality [issues] in the commercial sector, those were mostly concentrated
exposure on single clients and very concentrated in only a handful of sectors,
for example, rice mills and rubber. We’d like to be much more diversified now
and go smaller per client, so there’s less of a concentration issue.”
Analysts point out that the group has been closing branches
substantially in Thailand as it looks to go increasingly into digital banking.
It is down to 84 branches now compared with 165 in 2013.
Impact on CIMB Group
While CIMB Thai is not a big contributor to CIMB Group’s
earnings — it accounted for only 3% of group earnings last year — it, along
with the Indonesia unit, has weighed on the group’s performance in recent years
given the high provisions made for bad loans. Last year, the regional banking
group’s gross impaired loan (GIL) ratio ticked up 10 basis points to 3.4%, the
highest among Malaysia’s eight banking groups.
Analysts say the group’s GIL ratio will improve this year on the
back of continued recovery in Indonesia and the bottoming of NPLs in Thailand.
The Indonesian bank, PT Bank CIMB Niaga Tbk, is the biggest
overseas contributor to group earnings at 21% last year, followed by Singapore
(5%).
Last week, CIMB Niaga reported a 37% increase in first quarter
net profit to IDR876.6 billion, helped by higher non-interest income and lower
impairment allowances.
Absolute gross NPLs declined 9% y-o-y, while its NPL ratio
improved to 3.51% from 3.75% in the preceding quarter, and 3.91% in 1Q2017.
CIMB Group is expected to report its 1Q2018 numbers on May 30.
Most analysts have a “buy” call on the stock, and expect it to report a better
net profit this year. It made a net profit of RM4.5 billion last year, and ROE
improved to 9.6% from 8.3%.
“We believe earnings/ROE recovery will continue in 2018, led
mainly by Indonesia credit costs narrowing further and a cleaner Thai book,
coupled with some acceleration in loans growth (we forecast 6% for the group),
and an improving Malaysia net interest margin after the 25bps hike in the overnight
policy rate (in January)” says Nomura Research in a March 1 report.
The stock, which has gained 12.7% this year, closed at RM7.25
last Friday.
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Rice Transplanter Machines Market
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·
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·
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·
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·
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·
Jiangsu World Agriculture Machinery
·
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Shandong Fuerwo Agricultural
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·
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https://thetechnicalprogress.com/2018/05/rice-transplanter-machines-market-trends-drivers-strategies-applications-and-competitive-landscape-2022/
Indo-Gangetic Plain rice-wheat
landscapes get climate smart makeover
Julie
Mollins
9 May 2018
BONN, Germany (Landscape News) – Farmers confront a daunting
range of options for potentially achieving high crop yields on India’s western
Indo-Gangetic Plain, where rice and wheat are planted in rotation to meet high
demand for dietary food staples.
Also known as double cropping, the rotational technique has been
used in the area since 1965 to intensify production in an increasingly limited
growing area, initially yielding positive food security results. Over time,
agricultural practices have led to troubling consequences for the landscape,
leading to unreliable or lower yields for farmers.
Now, new scientific research into
“layering” climate smart agriculture techniques shows promise, revealing the
potential for crop adaptability to climate change. Scientific experiments
demonstrate the feasibility of climate smart efforts offering a combination of
high productivity, benefits to water and energy supplies, and ultimately a
smaller environmental footprint.
Throughout Southeast Asia, but particularly in the fertile
Indo-Gangetic Plains area, natural resources are up to five times more stressed
than other areas due to agricultural intensification, urbanization, population
growth, increasing climate change risks, and land degradation difficulties.
“Land is degraded in the region because over the past 50 years
crop production increased quickly leading to inefficient use and mismanagement
of resources,” said Mangi Lal (M.L.) Jat, a Principal Scientist with the International
Maize and Wheat Improvement Center (CIMMYT), who works with a
team of scientists on sustainable intensification and climate smart
agriculture.
The scientists conducted a study to determine the most effective
methods to grow rice and wheat in constrained conditions where horizontal
expansion of crop growing areas is no longer a viable option for increasing
yields.
Before beginning their research, scientists were already aware
that because of overpopulation, to meet rising food demand in the Indo-Gangetic
Plains area, the only option for farmers is to increase yields on land already
under agricultural production. Land shortages are exacerbated by reduced
availability of water and energy.
By 2050, variability in growing conditions due to climate change
is projected to lower crop yields by 10 to 40 percent and total crop failure
will become more common.
In addition, over the same time period, more than half the
current wheat growing area in the Indo-Gangetic Plains will likely become unsuitable
for production due to heat stress. Over pumping of ground water for rice
production is simultaneously depleting the water table.
“Adaptation to climate change is no longer an option, but
essential for minimizing crop losses that will occur as a result of the adverse
impact of climate change,” Jat said, adding that the key to future food
security is to use agricultural technologies that promote sustainable
intensification and adapt to emerging climatic variability.
“Farmers face an enormous challenge – to be successful they must
now rely on sustainable intensification management practices and adapt to
emerging climate variability while playing a role in reducing greenhouse gas
emissions and sequestering carbon to keep global warming in check,” he said.
The key will be to boost the use of climate smart agriculture
techniques, which have the potential to simultaneously address these
challenges, maintain environmental equilibrium and produce high crop yields.
The strategy opens the door to sustainably increase agricultural
productivity and farmer income, adapt to and develop the capacity to resist
climate change, and reduce or eliminate greenhouse gas emissions.
WINNING TECHNIQUES
After experimental fieldwork, the scientists learned that
strategically combining climate smart agricultural technologies already used
selectively as a result of years of CIMMYT-designed trials in the region are
most likely to lead to high crop yields and food security.
Their findings are reported in a new research paper published in Agricultural Water
Managementjournal.
Currently, farmers are using such climate smart water and energy
saving techniques as direct seeded rice, zero tillage, laser land levelling,
alternate wetting and drying, weather forecast based irrigation, precision
nutrient management. Other climate smart techniques include retention of crop
residues on the fields to store carbon and prevent emissions and unhealthy smog
levels that result from residue burning.
“Climate smart agriculture practices in isolation may not
fulfill their full potential in adapting to climate risks and mitigating
greenhouse gas emissions in rice-wheat production systems,” Jat said.
“However, layering of these practices and services in optimal
combinations may help to adapt and build resilience under diverse production
systems and ecologies to ensure future food security.”
The scientists studied six scenarios in three different climate
smart villages in India’s sub-tropical state of Haryana in the Indo-Gangetic
Plains.
The first scenario was based solely on observing the normal
practices of a farmer, the second and third scenarios were layered with
different technologies used for tillage, crop establishment, residue and
nutrient management, and designated as “improved farmers’ practices.”
The other three scenarios were based on climate smart
agriculture practices combined with the available range of technologies
deployed to enhance tillage, crop establishment, laser land leveling; residue,
water and nutrient management; improved crop varieties, information and
communication technology and crop insurance.
Scientists set out to determine the best combination of
practices and found that layering of climate smart agriculture practices
improved rice-wheat system productivity from 6 to 19 percent depending on
techniques used.
Layering also led to savings of more than 20 percent irrigation
water. Global warming potential was reduced by 40 percent.
“The research leaves us feeling optimistic that the work we’ve
been conducting throughout South Asia is leading to strong results,” Jat said.
“Our aim now is to continue to work through various real life scenarios to see
how far we can go in sustainably intensifying the entire region so that food
supply can keep apace with population growth under emerging climate change
challenges.”
The project was supported by the CGIAR Research Program on
Wheat and the CGIAR Research Program on
Climate Change, Agriculture and Food Security.
Delhi, we’ve a problem:
Father-son conmen duo pretend to be NASA scientists and dupe businessman of Rs
1.43 crore
Conmen
with Delhi Police
Updated: May 8, 2018, 10:45 PM IST
A father-son duo parading in a space suit escorted by cops is
not a common sight. These are cons who allegedly duped a Delhi-based businessman
of Rs. 1.43 crore claiming they worked for NASA. The Delhi Police arrested
the two on Tuesday.
Plastic space suits, ‘RP’ copper plate, anti-radiation
chemical stickers made by them to lure and convince their victims that
they work for NASA were seized from them, police said.
The accused have been identified as Virender Mohan Brar (56) and
Nitin Mohan alias Bawa Brar (30) both residents of Paschim Vihar, Delhi.
Based on a complaint from businessman Narender that Mohan and
Nitin cheated him claiming they were dealing Rice Pullers (RP) used
by NASA for research.
“Virender posed as MD of a company stated that he can arrange
the sale of ‘RP’ to NASA at a price of around Rs 37,500 crore after
testing its genuineness, which would be done by scientists of DRDO and some
chemicals would be imported for the same as well. Narender was lured and told
that if he invested the returns would be great,” said Bhisham Singh, DCP, Crime
Branch.
In his complaint Narender alleged that he came in contact
with a man who told him that ‘Rice Puller’ dealings involve huge profits.
The accused would fool the victim by saying that the is a
rare piece of copper, which is struck by thunderbolt in the hills of
Uttarakhand giving it power to pull rice and is being used
by NASA for advanced space research.
The testing of the RP was scheduled in Hapur but could not
happen as the accused persons made an excuse that the place was not conducive
and after that the said testing was delayed by them on one or another
pretext.
Another round of negotiations for another test finalised at
Dharamshala, Himachal Pradesh also did not finalise. But testing was cancelled
last moment stating weather issues. This is when the victim realised he cheated
by the so-called scientists.
What is a rice puller?
A rice puller is a conman’s device in which a fraud takes a
copper plate or utensil and coat it with liquid magnet and then fill some
boiled rice with small iron wires and fools the victim by pulling the rice
grain towards the magnet-coated copper article.
SCIENTISTS ANNOUNCED THE INGRESS OF
MERCURY IN CHINESE RICE
| May 8, 2018 | Science | No Comments
Grown in
China, rice is gradually polluted with mercury as a result of the coal plants.
This was stated in the Massachusetts Institute of Technology.
Is exposed to contamination like fish and rice. Emissions of coal factories lead to the ingress of metal into the atmosphere, where it mixes with precipitation and falls into the water and soil, there being absorbed by the rice. Infiltrated water bacteria transform mercury into methyl mercury, a poison that can be collected in the human body. Due to the fact that rice fields flooded throughout the growing period, the substance is there on a permanent basis.
American scientists conducted a study, which showed that the change in the emissions of mercury in air affects the amount of the element in Fig. In the case of a further increase in emissions of this type of metal, its concentration in the grain could increase by 13% by 2050.
16 foreign bidders eyeing to supply imported rice to NFA
May 8, 2018, 10:00 PM
By Madelaine B. Miraflor
As much as 16 foreign bidders are
now looking to bag contracts to supply imported rice of as much as 250,000
metric tons (MT) to the state-run grains agency National Food Authority (NFA).
In an effort to effectively build
up government buffer stocks for this year’s lean months, NFA has already begun
the process of rice procurement for another 250,000 MT under an open tender
scheme where supply could come from any country and suppliers could come from
either the private or government sector.
During the pre-bid conference
yesterday, 16 companies expressed interest to supply the Philippines its much
needed stocks.
Of the 16 bidders, seven came
from Vietnam namely Vietnam Northern Food Corp., Vietnam Southern Food Corp.,
Gentraco Corp., Gia International Corp., Hiep Loi Joint Stock Co., Phan Minh
Investment Production Trading Services, and Khiem Thanh Co. Ltd.
Thailand has five including
Ponglarp Co. Ltd., Thai Hua Co. Ltd., Capital Cereals Co. Ltd., Asia Golden
Rice Co. Ltd. and Thai Capital Crops Co. Ltd.
The remaining bidders are Olam
International Ltd. from Singapore, Phoenix Global DMCC from United Arab
Emirates, Meskay & Femtee Trading Co. Ltd. from Pakistan, and Paritas
Trading Corp. from the Philippines.
NFA Deputy Administrator Judy
Carol Dansal said that for this particular bidding, the agency scrapped the
rule that limits the volume of rice that one bidder can supply to the country.
“There is [now] no limitation on
the volume. This time, we allowed the participation of more [and] it’s up to
them on how many lots they would like to bid. A certain trader can bid for the
entire 250,000 provided they qualify and they have the lowest bid,” Dansal
said.
According to her, the rationale
behind this is for NFA to allow traders to have “wider participation” and less
chance of failed bidding.
Deadline for submission of bids
is on May 22 at 10 am. Opening of Bids will be held 5 minutes later at 10:05
a.m. of the same day.
The total volume is divided into
nine lots to be delivered via 14 designated discharge ports across the country,
namely, Poro Pt., La Union; Batangas; Subic; Tabaco; Iloilo; Bacolod; Cebu;
Tacloban; Zamboanga; Cagayan de Oro; Surigao; Gen. Santos City; Davao City and
Manila.
This private sector-led
importation came just a few days after NFA succesfully conducted a
government-to-government bidding for the importation of another 250,000 MT of
rice.
After a failed bidding, NFA last
week finally awarded the supply contracts for 250,000 MT worth of rice imports
to the governments of Vietnam and Thailand.
This, after the two governments
adjusted their offers, lowering their prices, to match NFA’s reference price.
Of the total volume, Thailand
will bring in 60,000 MT of 25 percent broken rice not later than May 31, 2018,
and the balance of 60,000 MT not later than June 15, 2018.
Vietnam, on the other hand, will
bring in 40,000 MT of 25 percent broken rice not later May 31, 2018, and
another 40,000 MT not later than June 15, 2018. The 50,000 MT of 15 percent
broken rice will be shipped by Vietnam to the designated ports not later than
June 30, 2018.
On top of all of these, NFA is
still looking to import more rice this year as the expected supply of 500,000
MT is only going to be good for 15 days or less.
https://business.mb.com.ph/2018/05/08/16-foreign-bidders-eyeing-to-supply-imported-rice-to-nfa/
Self-sufficiency or security?
Published May
8, 2018, 10:00 PM
Former Vice President
By Jejomar C. Binay
Former Vice President
Every
administration has high aspirations of making our country self-sufficient in
rice. This is understandable, considering that we are a rice-consuming and
producing country.
The
previous administration had proclaimed the country would be totally
self-sufficient in rice by 2013.
It
failed to meet that target.
From 96
percent rice self-sufficiency in 2013, the figure actually dropped to 92 per
cent in 2014. And the rice self-sufficiency policy has also resulted,
ironically, in rising prices of rice.
As
pointed out by the International Rice Research Institute (IRRI), the policy of
imposing import restrictions to achieve rice self-sufficiency actually raises
domestic prices, which then reduces household food security.
Research
also showed that the domestic price of rice is about 40 percent higher than
imported rice.
Experts
have been consistent in pointing out several barriers to rice-self sufficiency.
Foremost is geography.
Rice-exporting
countries in Southeast Asia – Thailand, Vietnam, Myanmar, Cambodia, and Laos –
produce more rice than the Philippines because they are all on the Southeast
Asian mainland, with dominant river deltas that provide sufficient water.
These
countries also have vast, flat lands which make them more suitable for
cultivating rice. More land is available for rice because of their low
population density.
On the
other hand, rice-importing countries like Indonesia, Malaysia, and the
Philippines are all islands or peninsulas, with high population densities and
fewer farmers growing rice because other crops more suitable to their land are
more profitable.
Rather
than pursue a policy of rice self-sufficiency, experts have proposed that
government pursue a policy of ensuring food security instead. I agree with this
view.
For one
thing, when you talk of rice self-sufficiency, you are talking of domestic
production equal to or matching the local demand for rice.
On the
other hand, food security, as defined by the Food and Agriculture Organization
(FAO), an international agency under the United Nations (UN), is achieved when
“all people, at all times, have physical and economic access to sufficient,
safe, and nutritious food.” This is regardless of the source of the food.
What
experts recommend is for the Philippines to target 90-95 percent of rice
produced domestically and import the rest from Vietnam or Thailand. Malaysia,
also an archipelagic country, imports as much as 30 percent of its rice.
The
Philippine Institute for Development Studies (PIDS), for its part, is proposing
a liberalized trade regime to ensure food security.
Such a
policy, says PIDS, would also help curb rampant rice smuggling. A farmers’
group has estimated that some P182 billion in agricultural products were
smuggled into the country from 2010 to 2014, which they say is almost double
the amount of smuggled products from 2005 to 2009.
Cheap
smuggled rice disables competitive trade prices for local farmers and traders.
Rice smuggling also distorts the data on rice supply-and-demand which is used
as reference for making a sound policy on food security.
More
importantly, it robs government of revenues from unpaid tariff.
As
experts have proposed, rice trade liberalization is a country’s best option
under a perfect market condition, wherein a level playing field exists between
exporting and importing countries.
However,
studies have shown that the international rice trade is not an even playing
field.
As I
pointed out in my previous column, the support extended by Asian rice-producing
countries for their rice industry far exceeds that of the Philippines.
These
countries provide free Irrigation water for their farmers, while for so many
decades, our government makes our farmers pay irrigation fees.
Poor
farmers who can barely make ends meet have been a source of government revenue.
Republic
Act 10969, the Free Irrigation Service Act, is a step in the right direction.
And I do hope our policymakers would consider making strategic investments in
irrigation.
If we
irrigate our remaining irrigable farmlands nationwide, it will create jobs in
the countryside, where jobs are most needed. It will also increase the value of
farmlands to a level that would attract foreign direct investments in
mechanization, modern farming technology, and fertilization.
Strategic
investments in irrigation will also have ancillary benefits. It will induce a
lot of urban poor people to go home to their provinces since there are jobs
available. We will be able to decongest cities and other urban centers,
stimulate provincial economies, and improve the fiscal position of local
government units (LGUs). We improve the lives of our people, we restore their
dignity. That should be our ultimate goal.
This Indian Rice Exporter Is Not Worried About U.S. Sanctions On
Iran
9
May 2018, 11:16 AM9 May 2018, 10:45 AM
KRBL Ltd., the maker of India Gate basmati rice, is not overly
worried about the U.S. reinstating sanctions on Iran. This despite the country
along with Saudi Arabia accounting for nearly 40-45 percent of India’s basmati
rice exports, according to rating agency ICRA.
“As far as rice is concerned, it is a staple food in Iran and
that is why it will be out of the sanctions,” Anil Mittal, chairman and
managing director of the company, told BloombergQuint. “In the past too,
whenever there are sanctions on any country, essential food items are out of
the sanction,” he said citing the examples of North Korea and Sudan.
U.S. President Donald Trump abandoned the landmark 2015 nuclear
deal between America and the Iran, and reinstated sanctions, opening an
uncertain new chapter for the country and its neighbours. The sanctions
threaten to tighten global oil markets and derail billions in business deals.
India, one of the close allies of U.S., exports rice and
two-wheelers to Iran while importing crude oil from there. Rice exporters to
Iran include KRBL, Kohinoor Foods Ltd. and LT
Foods Ltd.
KRBL gets 5 percent of its turnover from Iran, Mittal said.
Ergo, the sanctions would not affect their business much. The company’s stock
pared early losses and was trading 3.42 percent higher at 10 a.m.
The Impact of the Growing Reliance on Overseas Food Supplies in
Egypt
9 MAY 2018
Egypt, the world’s second-largest
importer of wheat, behind Indonesia, could soon also be an importer of rice.
The two crops are staple grains in Egypt. Rapid population growth, climate
change and the filling of the Grand Ethiopian Renaissance Dam (GERD), have
raised concerns about the security of water supplies in the foreseeable future.
This concern has seen the Egyptian Government implement a national strategy for
resources, to last from 2017 until 2037, with a focus on reducing the farming
of water-intensive crops.
As an import-dependent country,
Egypt has a volatile economic landscape, where GDP growth is moderate, but
unemployment remains high. Purchasing power has declined due to inflation and a
consumer tax and currency fluctuations have increased domestic prices. Becoming
ever more reliant on food imports, Egypt is increasingly susceptible to changes
in global commodity markets, which could lead to negative impacts on economic
growth and to social unrest.
Ethiopia is preparing to fill the
79 billion cubic metre GERD, which is expected to have pronounced ramifications
for Egypt’s already scarce water supplies. Egypt and Ethiopia have been at
cross purposes, not being able to agree on the time frame for filling the dam.
Egypt’s irrigation ministry has estimated that if the dam is filled in three
years the reduced water flow could destroy 51 per cent of Egypt’s farmland,
compared to a 17 per cent loss over six years. This loss of farmland would
hinder crop production and reduce food security.
Egypt is already facing severe
food security implications, as a consequence of a scarcity of water and
resources that has been magnified by climate change. The World Food Programme
states that approximately 16 per cent of the population (95 million) has poor
access to food. Water scarcity, desertification and urbanisation have led to
decreased domestic crop production and Egypt has become highly dependent on
food imports.
The Food and Agriculture
Organization estimates that Egypt will import 11.7 million to 12 million tonnes
of wheat in the 2017/18 financial year. The United States Department of
Agriculture estimates that Indonesia, in the same financial year, will import
approximately 12.5 million tonnes of wheat, due to changing dietary habits. If
those estimates are accurate, Egypt will no longer be the world’s largest wheat
importer, a position it has held since 2007/08. Egypt’s dependability on wheat
imports is highly volatile, however, due to its current economic situation and
the global commodity market. It could, therefore, return to that position as the
world’s leading wheat importer.
In 2014, the Egyptian Government
commenced rolling out an economic reform programme, with the aim of
invigorating the economy. The reform programme led to a gradual increase in the
growth rate of GDP, which reached 5.2% in 2017/18. Despite recent modest
economic growth, the unemployment rate remains high at 11.3%. High rates of
unemployment can be directly linked to increasing levels of poverty affecting
the ability of families to purchase food. Currency fluctuation and consumer tax
reforms have put further pressure on society, through inflation and reduced
purchasing power.
A volatile Egyptian economy is
susceptible to fluctuations in global commodity prices. Egypt, already an
import-dependent country, has been attempting to narrow its trade deficit;
however, if wheat prices were to increase, the deficit could potentially
expand. On a larger scale, if the wheat supply is restricted due to poor
yields, unexpected weather events or export bans, a food security crisis could occur.
The 2010 Russian wheat export ban, for example, was a result of drought causing
global prices to rise, which triggered social unrest and contributed to the
Arab Spring.
Rice, like wheat, is a staple
food source in Egypt and it has been forecast that Egypt could become a rice
importer by 2019. Due to water scarcity, desertification, increased levels of
soil salinity and the reduced flow of water in the Nile, the government has
introduced a national strategy for water resources for the period 2017 to 2037.
According to Hossam el-Emam, a Ministry of Irrigation spokesperson, one of the
main pillars of the strategy is to rationalise water use by reducing the
cultivation of water-intensive crops. The government has announced that only
750,000 acres of rice can be planted this year, approximately half of the area
cultivated in 2017.
The logical expectation is that
the reduced production of rice will lead to higher domestic market prices,
which will impact on the already vulnerable lower to middle income classes. It
will also see Egypt become ever more dependent on imports to ensure food
security.
As Egypt trends toward an
increased reliance on importing these crops, a negative impact on economic
growth could be experienced. Although, at first glance, relying on imports for
food security does not seem like a serious fundamental issue, it becomes a
problem when the import costs take money away from key development agendas. It
becomes a bigger problem, when the food security dilemma is still not
completely resolved. It can also be foreseen that if a crisis does occur,
whether caused by trade bans or unprecedented climatic events, social unrest
could result, causing political instability.
Any opinions or views
expressed in this paper are those of the individual author, unless stated to be
those of Future Directions International.
Published by Future
Directions International Pty Ltd.
80 Birdwood Parade,
Dalkeith WA 6009, Australia.
Tel:+61
8 9389 9831 Fax:+61 8 9389 8803
Chefs See Rice Flour as a Secret Ingredient to Make
Everything Better
By Lesley Dixon
ARLINGTON, VA -- Trends
show that both in the restaurant and at home, chefs are increasingly using rice
flour to fry foods. Frying doesn't have
to involve a thick, heavy batter that creates a greasy, bready crust. Substituting rice flour for wheat flour in
practically any fried food is a refreshing alternative that is weightless,
crispy, and tender.
Though it's been recently
popularized in the U.S., the technique of frying with rice flour is
universal. In Asia, it's used in
everything from Japanese tempura vegetables to Korean fried chicken, lending
Asian fried foods their characteristic pillowy crunch. It also has a strong presence in Italian
cooking, where chefs use finely-ground arborio rice to make such classic dishes
as Tuscan-style fried chicken, calamari fritti, and the region's signature
breaded zucchini, thinly sliced and sautéed in olive oil.
Stateside, rice flour has
been used in Southern-style cooking for generations. In the Carolinas and the Deep South in the
19th century, rice flour, then just a by-product of the mills, was often
cheaper and more available than wheat flour.
Some versions of Creole dumplings and pancakes are still made with rice
flour.
But it's rice flour's
frying qualities that put it in the spotlight.
Lifestyle guru Martha Stewart has a recipe for Korean-inspired fried
chicken with a rice-flour batter, and celebrity chef Bobby Flay introduced a
fish and chips recipe using rice flour and panko breadcrumbs that rivaled
classic English recipes on his show Throwdown! with Bobby Flay. Flay claimed rice flour was a "secret
weapon" that he uses in many fried recipes for a nice, light batter.
Even many of your favorite
fast food French fries - yes, the perfect, golden, crispy fries you know and
love so well - are dusted with rice flour before frying to give them that
characteristic, satisfying crunch.
Burger King, Jack in the Box, and Carl's Jr./Hardees all use rice flour
on their French fries.
Chef Mike Manno
The benefits of frying with rice flour aren't all
aesthetic; it's healthier, too. "Rice flour absorbs less oil than other
flours while frying, resulting in fewer calories from fat and a less oily
product," says Mike Manno, research and development chef at CSSI, a
foodservice agency. In a study conducted
by the Southern Regional Research Center, part of the U.S. Department of
Agriculture's Agriculture Research Service, chicken drumsticks fried in rice
flour absorbed up to 62 percent less oil than those fried in traditional
breading flour.
Frying with rice flour is
also a perfect alternative for people with celiac disease or gluten intolerance
who still want to occasionally enjoy a good plate of chicken wings - which
happens to be Manno's favorite way to utilize the unique properties of rice
flour. "I got sick and tired of the same old chicken wings, so I decided
to try something different," Manno said.
He first poaches the wings and lets them cool, then coats them in
seasoned rice flour. "Rice flour is
so versatile. It's a blank canvas you
can season any way you want."
Once the wings are fried
to crispy perfection, Manno tosses them with sticky-sweet Asian sauce and
sprinkles something to add texture on top, like sesame seeds. "Rice flour is a really fun way to make
something crispy and crave-able, even for people with dietary restrictions."
If you're frying with rice
flour at home, Manno recommends you use smaller pieces of meat and vegetables,
since rice flour is finely ground and browns faster than wheat flour.
And you don't always have
to make a tough choice when frying, either.
"A lot of chefs tend to blend traditional wheat or cornstarch
batters with rice flour these days," says Manno. "Not only does it lighten the batter up,
but it also reduces some of that gumminess you get with wheat."
One last editorial
recommendation, if you're feeling adventurous:
try dusting your bacon lightly in rice flour before frying in a pan or
baking in the oven. The result is
shockingly crisp, juicy, and evenly cooked.
The rice flour makes the outside of the bacon perfectly crunchy, while
soaking up just enough of the bacon grease to keep it juicy on the inside.
Iran tenders to buy 20,000 tonnes rice from
Pakistan - trade
Image used for illustrative purpose
Getty Images
HAMBURG - * Iran's state grains buyer GTC has issued an
international tender to buy 20,000 tonnes of rice to be sourced from Pakistan,
said European traders
* The tender closes on June 12
* The super basmati rice is sought in two 10,000 tonne
consignments
(Report
ing by Michael Hogan)
((michael.j.hogan@thomsonreuters.com; +49 40 419 03 4275; ReutersMessaging:
michael.hogan.thomsonreuters.com@reuters.net)
https://www.zawya.com/mena/en/story/Iran_tenders_to_buy_20000_tonnes_rice_from_Pakistan__trade-TR20180508nL8N1SF1MJX2/
Iran tenders to buy 20,000 tonnes rice from Pakistan – trade
HAMBURG - * Iran's state grains buyer GTC has issued an
international tender to buy 20,000 tonnes of rice to be sourced from Pakistan,
said European traders * The tender closes on June 12
* The super basmati rice is sought in two 10,000 tonne
consignments
Date: 08-May-2018
India Gate Basmati rice: GST profiteering
charge against KRBL dismissed
New Delhi, May 8 () The National
Anti-Profiteering Authority (NAA) has dismissed charges against Basmati
rice-exporting firm KRBL of not passing on price reduction benefits under Goods
and Services Tax (GST) to consumers. This is the second time in a row that the
NAA has ruled in favour of the company against whom a complaint was filed for
indulging in profiteering. Last month, the authority had exonerated a dealer of
Honda cars of the charges of not passing on the benefit of reduced tax
incidence to a consumer. According to the complaint lodged with a standing
committee under GST in November last year, KRBL Ltd had not passed on to the
consumers the benefit of reduction in the rate of tax on 'India Gate Basmati
rice'. The applicant had attached the image of price of 'India gate Basmati
Rice (Mini Mogra)' printed on 10-kg packet showing the price at Rs 540 in
August 2017 and Rs 585 in October 2017 in its complaint. The Director General
of Safeguards (DGS), which investigated the complaint, found that the tax rate
on packed Basmati rice has been increased from 'Nil' to '5' per cent after the
implementation of GST. The company has started paying 5 per cent GST with
effect from September 22, 2017, pursuant to a government notification. The
input tax credit (ITC) claimed by the company worked out to be between 2.69-3
per cent and the balance of G
ST had been paid by the company in cash since the ITC
available was less than the GST liability on outward supplies, the DGS noted.
"It is also apparent from the returns filed by the respondent (KRBL) for
the months of September, October and November, 2017, that the ITC available to
him as a percentage of the total value of taxable supplies was between 2.69 per
cent to 3 per cent whereas the GST on the outward supply of his product was 5
per cent which was not sufficient to discharge his tax liability.
"Moreover in this case the rate of tax has been increased from 0 per cent
to 5 per cent instead of a reduction in the same. Therefore, there appears to
be no reason for treating the price fixed by the respondent as violation of the
provisions of the anti-profiteering clause," the NAA said while dismissing
the plea against KRBL. The NAA, in its order, also said that the tax invoices
submitted by KRBL show there was an increase in the purchase price of paddy in
year 2017 as compared to 2016. The price increase from Rs 540 to Rs 585 for
10kg rice constituted an increase of 8.33 per cent keeping in view of the
increase in the purchase price. "Therefore, due to the imposition of the
GST on the above product as well as the increase in the purchase price of the
paddy there does not appear to be denial of benefit of ITC as has been alleged
by the Applicant as there has been no net benefit of ITC available to the
Respondent which could be passed on to the consumers. Accordingly, there is no
substance in the application filed," the order issued by NAA chairman B N
Sharma and other members stated. As per the structure of the anti-profiteering
mechanism in the GST regime, complaints of local nature will be first sent to
the state-level screening committee, while those of national level will be
marked for the Standing Committee. If the complaints have merit, the respective
committees will refer the cases for further investigation to the DGS. The DGS
then sends its report to the NAA, which passes final order on the case after
hearing both parties. JD BAL BAL
https://timesofindia.indiatimes.com/business/india-business/india-gate-basmati-rice-gst-profiteering-charge-against-krbl-dismissed/articleshow/64081705.cms
16 firms keen on supplying rice to PHL
A total of 16 firms bought bid documents on
importing 250,000 metric tons (MT) of rice, in line with the government’s
efforts to boost the country’s supply of the commodity. In a pre-bid conference
in Quezon City on Tuesday, the National Food Authority (NFA) reported that the
firms are from Thailand, Vietnam, and the Philippines. Those from Thailand
include Asia Golden Rice Co. Ltd., Capital Cereals Co. Ltd., Ponglard Co. Ltd.,
Thai Capital Corps Co. Ltd., and Thai Hua Co. Ltd. Those from Vietnam are Gia
International Corp., Gentraco Corp., Hiep Loi Joint Stock Co., Khiem Than Ltd.,
Phan Minh Investment Production Trading Services, Vietnam Nothern Food Corp.
(VinaFood I), and Vietnam Southern Food Corp. (VinaFood II). And those from the
Philippines are Paritas Trading Corp., Singapore-headquartered Olam
International Ltd. and Maxwill (Asia) Ptr. Ltd., and Dubai-headquartered
Phoenix International Ltd. Under the terms of reference released by the NFA on
Tuesday, the rice importations will be in two shipments. The first batch of
200,000 MT of 25 percent brokens is required to arrive in the Philippines not
later than July 31, 2018. The 25 percent brokens is a rice category, of which
25 percent has been broken into two or more pieces during the milling process
The second batch of 50,000 MT of 15-percent brokens is required to arrive not
later than Aug. 31, 2018. The terms specified that the rice must have been
harvested on or after November 2017, and must be freshly milled within four
months before loading and shipping to the Philippines. —VDS, GMA News
Author Name: http://www.gmanetwork.com/news/money/companies/652616/16-firms-keen-on-supplying-rice-to-phl/story/
LSU AgCenter
sets dates for rice field days
Bruce
Schultz | 5/7/2018 7:26:04 PM
(05/07/18) CROWLEY, La. — The LSU
AgCenter will hold a series of field days to help rice farmers learn about the
latest recommended practices to improve their crop production.
Experts will make presentations
on variety development, fertility, growing soybeans and controlling problems of
diseases, insects and weeds.
“These field days give us the
chance to provide details about our research projects,” said Don Groth, resident coordinator of the AgCenter H. Rouse Caffey Rice
Research Station. “Also, our scientists will be available to answer
questions from growers.”
The field days will be held on:
— May 30, southwest Louisiana
rice field day at Johnny Hensgens Farm, at the corner of David and McCown roads
south of Iowa, starting at 8 a.m.
— May 31, Evangeline Parish rice
field day at the Bieber Farm, 1 mile west of Mamou on Bieber Road, starting at
8:30 a.m.
— June 5, Vermilion Parish rice
field day at the Lounsberry Farm east of Lake Arthur on La. Highway 14,
starting at 4 p.m. followed by supper at the Klondike Fire Station.
— June 13, Acadia Parish rice
field day at the South Farm of the H. Rouse Caffey Rice Research Station,
starting at 8:30 a.m.
— June 27, Rice Research Station.
Field tours start at 7:15 a.m. and the last trailer will leave at 9 a.m.,
followed by a poster session and indoor presentations.
— July 18, northeast Louisiana
rice field day at the Colvin Farm at 632 Scales Road, Rayville, followed by
indoor presentations at the Rayville Civic Center at 817 Louisa St., Rayville,
9 a.m. until noon.
NFA rice tender for private suppliers scheduled for May 22
May 8, 2018 | 10:04 pm
THE National Food Authority (NFA)
will launch a tender for another 250,000 metric tons (MT) of rice on May 22,
with the order to be filled by 16 private companies.
The tender will allow the NFA to
replenish its buffer stock and will ask participants to fill orders for
well-milled long grain white rice. The Approved Budget of the Contract (ABC) is
P6.52 billion.
The tender for private suppliers
completes the NFA’s import procurement program of 500,000 MT.
NFA Special Bids and Awards
Committee Chairperson Judy Carol L. Dansal on Monday said that the terms of
reference (TOR) are unchanged except for the removal of volume limits to “allow
wider participation of traders and businesses.”
The former minimum lot size was
50,000 MT for eligible bids.
The bidders are from Thailand.
Vietnam, Pakistan, Singapore and the United Arab Emirates.
According to the TOR read out
during the pre-bid conference, 50,000 MT of the order will be filled with 15%
broken rice while the remaining 200,000 MT will be 25% broken rice.
The 25% broken rice should arrive
not later than July 31 while the 15% broken rice should arrive not later than
Aug. 31.
The shipments will be bid out in
nine lots for delivery to 14 designated ports.
The TOR calls for penalties for
failure to comply, but Ms. Dansal said penalties to bidders are unprecedented.
“But of course, to protect the
interest of the government, we always provide controls and penalties to ensure
compliance,” she added.
“From the loading port, there is
already an opportunity for the sellers’ surveyor to reject the goods that are
to be loaded. NFA can also send a representative to make sure that whatever is
loaded [is compliant so] they can reject from the load port.”
The NFA has two options for
restocking its warehouses: through local procurement or by importation. Ms.
Dansal said the NFA relies on importation when local procurement is unfeasible
due to high prices. — Anna Gabriela A. Mogato
6 firms keen on supplying rice to PHL
Published May 8, 2018 12:54pm
By JON VIKTOR D. CABUENAS, GMA News
A total of 16 firms bought bid documents on importing 250,000
metric tons (MT) of rice, in line with the government’s efforts to boost the
country’s supply of the commodity.
In a pre-bid conference in Quezon City on Tuesday, the National Food Authority (NFA) reported that the firms are from Thailand, Vietnam, and the Philippines.
Those from Thailand include Asia Golden Rice Co. Ltd., Capital Cereals Co. Ltd., Ponglard Co. Ltd., Thai Capital Corps Co. Ltd., and Thai Hua Co. Ltd.
Those from Vietnam are Gia International Corp., Gentraco Corp., Hiep Loi Joint Stock Co., Khiem Than Ltd., Phan Minh Investment Production Trading Services, Vietnam Nothern Food Corp. (VinaFood I), and Vietnam Southern Food Corp. (VinaFood II).
And those from the Philippines are Paritas Trading Corp., Singapore-headquartered Olam International Ltd. and Maxwill (Asia) Ptr. Ltd., and Dubai-headquartered Phoenix International Ltd.
Under the terms of reference released by the NFA on Tuesday, the rice importations will be in two shipments.
The first batch of 200,000 MT of 25 percent brokens is required to arrive in the Philippines not later than July 31, 2018. The 25 percent brokens is a rice category, of which 25 percent has been broken into two or more pieces during the milling process
The second batch of 50,000 MT of 15-percent brokens is required to arrive not later than Aug. 31, 2018.
The terms specified that the rice must have been harvested on or after November 2017, and must be freshly milled within four months before loading and shipping to the Philippines. —VDS, GMA News
In a pre-bid conference in Quezon City on Tuesday, the National Food Authority (NFA) reported that the firms are from Thailand, Vietnam, and the Philippines.
Those from Thailand include Asia Golden Rice Co. Ltd., Capital Cereals Co. Ltd., Ponglard Co. Ltd., Thai Capital Corps Co. Ltd., and Thai Hua Co. Ltd.
Those from Vietnam are Gia International Corp., Gentraco Corp., Hiep Loi Joint Stock Co., Khiem Than Ltd., Phan Minh Investment Production Trading Services, Vietnam Nothern Food Corp. (VinaFood I), and Vietnam Southern Food Corp. (VinaFood II).
And those from the Philippines are Paritas Trading Corp., Singapore-headquartered Olam International Ltd. and Maxwill (Asia) Ptr. Ltd., and Dubai-headquartered Phoenix International Ltd.
Under the terms of reference released by the NFA on Tuesday, the rice importations will be in two shipments.
The first batch of 200,000 MT of 25 percent brokens is required to arrive in the Philippines not later than July 31, 2018. The 25 percent brokens is a rice category, of which 25 percent has been broken into two or more pieces during the milling process
The second batch of 50,000 MT of 15-percent brokens is required to arrive not later than Aug. 31, 2018.
The terms specified that the rice must have been harvested on or after November 2017, and must be freshly milled within four months before loading and shipping to the Philippines. —VDS, GMA News
Rice basmati
weakens on muted demand
In the national capital, rice basmati common and Pusa 1121 variety declined by Rs 100 each to Rs 7,100-7,200 and Rs 6,400-6,500 per quintal, respectively.
Other bold grain, maize also shed Rs 20 to Rs 1,420-1,425 per quintal.
Following are today's quotations (in Rs per quintal):
Wheat MP (desi) Rs 2,060-2,260, Wheat dara (for mills) Rs 1,735-1,740 Chakki atta (delivery) Rs 1,740-1,745, Atta Rajdhani (10 kg) Rs 230-260, Shakti Bhog (10 kg) Rs 255-290, Roller flour mill Rs 930-940 (50 kg), Maida Rs 960-970 (50 kg)and Sooji Rs 1,040-1,050 (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 7,100-7,200, Rice Pusa (1121) Rs 6,400-6,500, Permal raw Rs 2,375-2400, Permal wand Rs 2,475-2,525, Sela Rs 3,050-3,150 and Rice IR-8 Rs 2,025-2,075, Bajra Rs 1,250-1,255, Jowar yellow Rs 1,600-1,650, white Rs 2,850-2,950, Maize Rs 1,420-1,425, Barley Rs 1,470-1,480.
https://www.outlookindia.com/newsscroll/rice-basmati-weakens-on-muted-demand/1303633u are
FCI rice stock hits 5-year high at 25 million
tonnes
According to the
official Second Advance Estimates, the country's rice output is estimated at
111.01 mt for 2017-18, a record
Dilip Kumar Jha
| Mumbai Last Updated at May 8, 2018 00:21 IST
52
Rice stocks with Food Corporation
of India’s (FCI’s) central pool reached 25 million tonnes (mt) at end-April,
the highest since 2013.
As of Monday, the total of rice with it and
its other nominated agencies was 32.96 mt, a third from Punjab (11.83 mt).
Wheat procurement is at 29.67 mt, with plans to buy another two to three mt.
“Although the rice stock is
relatively high, it is not at an alarming level. We require 32 mt of rice and
36 mt of wheat in our central pool for one year of distribution need, through
the Public Distribution System (PDS).
We are planning to start open market sale (OMS, of rice) in June to deal with
such a high stock,” said R P Singh, executive director.
Since January, FCI has added at
least eight mt of rice stock in its central pool. Market sources says there has
been slow pick-up from states, due to high output of other cereals.
According to the official Second
Advance Estimates, the country's rice output is estimated at 111.01 mt for
2017-18, a record. It was 109.7 mt in 2016-17.
In April 2017, rice stocks in FCI’s
central pool were 23.08 mt; wheat was eight mt.
The central government-owned agency
also procures unmilled paddy and other coarse grain — 7.72 mt and 0.1 mt,
respectively, at present in stock.
http://www.business-standard.com/article/markets/fci-rice-stock-hits-5-year-high-at-25-million-tonnes-118050701057_1.htmlhttp://www.business-standard.com/article/markets/fci-rice-stock-hits-5-year-high-at-25-million-tonnes-118050701057_1.html
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