Despite drop in the EU, exports
of milled rice stable: CRF
Chea Vannak / Khmer Times
September 26, 2019
Exports
of milled rice in 2019 will be similar to last year despite a significant drop
in shipments to the European Union, the Cambodia Rice Federation (CRF) said.
A 32 percent drop in rice exports
to the EU so far this year is being offset by a rise in exports to other
markets, particularly China, Malaysia, Brunei, Australia, Canada, and the
United States, the rice association said.
The drop in shipments to the EU,
the biggest market for Cambodian rice, is the result of tariffs imposed by the
European Commission on local rice in February, according to CRF.
CRF’s secretary-general Lun Yeng
said yesterday that exports of long-grain white rice to the EU were down but
that shipments of fragrant rice were on the rise. Overall, however, rice
exports to the bloc were significantly lower than last year.
“Overall, exports to the EU are
down, but, fortunately, exports to other markets are increasing,” he said.
“By the end of the year, I
believe we will export the same amount of rice to foreign markets than last
year, or perhaps a bit more,” Mr Yeng said.
From January to August, Cambodia
exported 132,947 tonnes of rice to China (a 54 percent hike compared to the
same period in 2018), 43,317 tonnes to Asean countries (a 12 percent increase),
and 45,731 tonnes to other countries (a 13 percent increase).
Exports to the EU amounted to
120,085 tonnes, a 32 percent drop.
Speaking at the launch of
‘RiceTechCambodia’ yesterday in Phnom Penh’s Raffles Hotel Le Royal, Veng
Sakhon, the Minister of Agriculture, said the rice sector should focus on
fragrant rice when it comes to exports.
“Competition in long-grain white
rice in international markets is tough. It is hard for Cambodia to compete with
Vietnam because the cost of production here is higher.
“The answer is to focus on
fragrant rice because Cambodian fragrant rice is famous abroad,” Mr Sakhon
said.
The government is now working on
increasing access to capital for rice millers so that they can buy more paddy
rice during the harvest season and build storage facilities, Mr Sakhon said,
adding that it is also working on lowering costs for players in the industry,
including the electricity bill and transportation. This, he said, will make the
Kingdom more competitive vis-à-vis its neighbours.
Cambodia will fulfill its export
quota in the Chinese market this year, shipping 300,000 tonnes of rice to the
East Asian giant, according to CRF.
Last year, Cambodia exported
626,225 tonnes of rice abroad, a drop of 1.5 percent compared to 2017.
Grade A Cambodian fragrant rice
sells for $900 to $950 per tonne, while Grade B fetches $700 to $740.
Long-grain white rice sells for about $450 per tonne, CRF said.
Rice millers threaten to boycott paddy
milling
Unhappy
over lack of space in godowns
· Sep 26, 2019, 7:23 AM; last updated: Sep 26, 2019, 7:23 AM
(IST)
Balwant Garg
Tribune News Service
Faridkot, September 25
Facing a lot of problems in storing rice,
members of the Rice Millers’ Association has threatened not to mill paddy this
season.
The state is
expecting 117 lakh metric tonnes of rice after milling of paddy in the ensuing
season. The paddy will start arriving at state mandis from October 1 and rice
millers will start milling it by mid-November. After milling, the rice is
delivered to the Food Corporation of India (FCI).
But as godowns of the FCI and affiliated food
agencies in Punjab are now packed to capacity and have space to store only 17
lakh metric tonnes of rice, rice millers are worried about the place to store
100 lakh metric tonnes of rice after milling.
“In the absence
of space to store the milled rice, we have no option but to delay the milling
process. But for the delay, the Food and Supply Department will impose
penalties on us,” said Charanjit Singh and Harpal Singh, rice millers, during a
meeting here on Wednesday.
“Until the FCI
liquidates the excess grain stock and creates space for the new stock, the
procurement and milling of paddy will be hampered in the coming days,” said
members of the Rice Millers’ Association.
The FCI, an
agency to handle the Central pool stock, has huge grain stocks which far exceed
buffer stock norms. A significant gap between the quantum of procurement of
grains and the volume of allocation to states under the National Food Security
Act (NFSA) has resulted in holding on to more grain stocks than needed. This
situation has left no space for the new rice stock.
Tarsem Saini,
president, Punjab Rice Millers’ Association, said, “The delivery of milled rice
will begin from mid-November and the entire rice (117 lakh metric tonnes) will
be delivered by April-end next year.”
Besides space
shortage, the millers are opposing the state government for receiving Rs5 lakh
as non-refundable security from each miller. “Earlier, the security amount was
refundable after the completion of the paddy milling. But this time, the amount
has been hiked to Rs10 lakh, including non-refundable Rs5 lakh,” said Laddi
Mangewala, a rice miller.
Millers are also
unhappy over the remaining payment of Rs1,500 crore of the last year’s paddy
milling from the state government. “The last paddy milling season got over on
March 31. But the government neither released the several charges and packing
material expenses, nor returned the security deposit taken from every rice mill
before paddy procurement,” said the millers.
Millers will
convene a state-level general house meeting on October 7 in Moga. During the
meeting, they will take decision to boycott paddy milling if their demands are
not meet, said Saini.
CLIMATE CHANGE PREDICTED TO HIT WHEAT PRODUCTION—AND THE U.S. IS
GOING TO BE ONE OF THE WORST PLACES AFFECTED
BY ON 9/25/19 AT 2:00 PM EDT
Wheat is a staple source of food
for people across the planet, accounting for a fifth of the calories consumed
globally. But, as a result of climate change, scientists believe most parts of
the world where the crop is grown will be simultaneously hit by water shortages
by the end of the century.
And the U.S. could be among the countries worst affected, the
authors of the research published in the journal published in the journal Science
Advances told Newsweek.
If climate change isn't tackled,
by the year 2100, 60 percent of areas that grow wheat will be hit by water
scarcity—up from the current level of 15 percent, according to the
international team of scientists.
These Are the U.S. States That Will Be Most Affected by Climate
Change
They say hitting the goals of the
Paris Agreement on climate change—including keeping average post-industrial global
temperatures from rising above 1.5 degrees Celsius—could "substantially
reduce the negative effects" of problems like droughts.
But even then, instances of
growers struggling to water their crops is predicted to double between 2041 and
2070, compared with current conditions.
To predict the threat global
warming presents to wheat, the researchers created a model based on drought
conditions at the time of year wheat is grown.
Co-authors Miroslav Trnka, of the Czech Academy of
Sciences, and Song Feng, of the University of Arkansas, told Newsweek that in their previous research, they had shown climate change
may cause soil to become less moist across most mainland U.S. states, including
those where wheat is grown.
As a result, the U.S. could be
"one of the top most affected wheat producers" in terms of the
increase in areas affected by severe droughts, they said in a joint statement.
That could signal problems for
farmers—and, in turn, the amount of wheat the country can export. But more
detailed analysis is needed to understand the full extent of the potential
problems, they stressed.
Partly due to the purchasing
power of Americans, U.S. society likely won't suffer in as much as developing
nations, the pair said.
Severe drought will strike major
exporters, most of whom are in developed countries, "suggesting major
challenges on wheat production and a high risk of food price spikes in the
future," they said. "This scenario will add further hardship to the
importers and the developing countries."
The projections are
"unsettling," the pair argued as because have died, thousands made
homeless, and countries "ruined" because of price hikes in past
decades.
"It is not a future that
must happen but maybe more likely under the future climate," they said.
Wheat is the number one rain-fed crop grown in terms of harvest
area—equaling maize and rice combined. The Food and Agriculture
Organization predicts there will have been a 43 percent increase in demand for
cereals—including maize, rice, sorghum, millet and wheat—between 2006 to 2050.
Worryingly, existing research cited by the authors has predicted a
4.0 to 6.5 percent drop in global wheat production per 1 degree Celsius of
warming if climate change isn't mitigated. And it's unlikely wheat can be
replaced if water becomes scarce, as it's not as thirsty as other crops and can
do without for a relatively long period of time.
If multiple regions are affected by drought simultaneously
"it might be difficult to meet the demand even if the trade routes stay
open and are not restricted by governmental measures,"
warned Feng and Trnka.
However, they said: "Studies
show that if we continuously improve the sustainability and technologies in the
coming decades and allow for international trade, we may overcome the negative
impacts of climate change."
SEPTEMBER 25, 2019
Scientists find ways to improve cassava, a 'crop of inequality'
featured at Goalkeepers
Today, as world leaders gather
for the UN General Assembly, hundreds of emerging leaders focused on fighting
global inequality came together at the Bill & Melinda Gates Foundation's
third annual Goalkeepers event in New York City. Among them,
University of Illinois scientist Amanda De
Souza highlighted a crop of inequality called cassava, which
has starchy, tuberous roots that sustain more than 500 million people in
sub-Saharan Africa, yet cassava has been largely neglected by research and
development compared to the staple crops of wealthier regions. Recently, De
Souza and a team from Realizing Increased Photosynthetic Efficiency (RIPE) published
a study in New Phytologist that identified opportunities to
improve cassava yields—which have not increased for more than fifty years in
Africa.
"For smallholder farmers who
depend on tiny plots of land to feed and support their families, cassava is a 'backup'
crop when other crops fail," De Souza said at Goalkeepers,
where she described her work to improve cassava through the RIPE project.
"Especially for women, who represent a majority of smallholder
farmers, cassava is a savings account. It is a resource they can
harvest all year to pay for things like medical treatments and their children's
school fees."
The RIPE project is an international
effort to develop more productive crops by improving
photosynthesis—the natural, sunlight-powered process that all plants use to
fix carbon dioxide into carbohydrates that fuel
growth, development, and ultimately yields. RIPE is supported by the Gates
Foundation, the U.S. Foundation for Food and Agriculture Research (FFAR), and
the U.K. Government's Department for International Development (DFID).
Led by RIPE researchers at
Illinois and Lancaster University, this study examined factors that limit
photosynthesis in 11 popular, or farmer-preferred, African varieties of cassava
with the goal to eventually help cassava overcome photosynthetic limitations to
boost yields.
First, the team examined the
photosynthetic limitations of cassava exposed to constant high levels of light,
like a plant would experience at midday with cloudless skies. In these
conditions, and like many crops, cassava's photosynthesis is limited (by as
much as 80 percent) by two factors: One half is due to the low speed that
carbon dioxide molecules travel through the leaf to reach the enzyme that
drives photosynthesis, called Rubisco. The other half is because Rubisco
sometimes fixes oxygen molecules by mistake, wasting large amounts of the
plant's energy.
According to a recent study using modeling, the tropical root
crop cassava could be more productive with less water if the microscopic pores
on its leaves could open three times faster, allowing more carbon dioxide to
enter the plant to be fixed into sugars during photosynthesis in the transition
from shade to light. Credit: RIPE Project
Next, the team evaluated the
limitations of photosynthesis under fluctuating light
conditions. Surprisingly, and unlike most crops, Rubisco was not the
primary limiting factor when leaves transitioned from shade to sunlight, like
when the sun comes out from behind a cloud. Instead, cassava is limited by
stomata, which are microscopic pores on the surface of leaves that open to
allow carbon dioxide to enter the plant but at the cost of water that escapes
through these same pores. Stomata are partially closed in the shade and open in
response to light when Rubisco is active.
"Rubisco is the major
limiting factor during this transition from shade to light for most plants,
including rice, wheat, and soybean," De Souza said. "Cassava is the
first crop that we have found where stomata limit photosynthesis during these
light transitions more than Rubisco."
Illinois' Postdoctoral Researcher
Yu Wang created a computer model to quantify how much cassava would gain by
overcoming this limitation. According to the leaf-level model, if stomata could
open three times faster, cassava could fix 6 percent more carbon dioxide each
day. In addition, cassava's water use efficiency—the ratio of biomass produced
to water lost by the plant—could be improved by 16 percent.
In addition, the team found that
it takes as long as 20 minutes for cassava to transition from shade to full
light and reach the maximum rate of photosynthesis, which is quite slow
compared to other crops such as rice that can transition in just a few minutes.
However, the fastest variety of cassava could transition almost three times
faster and fix 65 percent more carbon dioxide into carbohydrates than the
slowest variety. Closing this gap is another opportunity to improve cassava's
productivity.
"Plants are constantly
moving from shade to light as leaves shift and clouds pass overhead," said
RIPE Director Stephen Long, Ikenberry Endowed University Chair of
Crop Sciences and Plant Biology at Illinois' Carl R. Woese Institute for
Genomic Biology, who contributed to this study. "We hope that the
variation that we discovered during these light transitions among cassava
varieties can be used to identify new traits, and therefore opportunities for
us to improve cassava's photosynthetic efficiency and yield
potential."
Searca sees digital tech boosting plant science
SEARCA SEES DIGITAL TECH BOOSTING PLANT
SCIENCE
The Southeast Asian Regional
Center for Graduate Study and Research in Agriculture (Searca) is advocating
the use of digital technology to boost plant science to improve the lives and
earnings of farmers.
More than 350 scientists,
researchers and educators recently convened to discuss ways digital technology
can be harnessed to boost plant science during the 25th Federation of Crop
Science Societies of the Philippines and the 1st Federation of Plant Science
Associations of the Philippines (FPSAP) Scientific Conference held at Apo
View Hotel in Davao City from September 17 to 21.
During the opening of the
conference that had the theme “Converging Sustainability and Precision to
Create Digital Plant Science Innovations,” Searca Director Glenn Gregorio
explained the importance of using technology to achieve “Agriculture 4.0,” but
pointed out that there was still resistance in adopting modern technologies
because of perceived risks.
“The reality of digitalizing
agriculture is won or lost at the farmer level, where applicability and
sustainability have to be tested,” he said.
“We have to embrace these changes
to actually change the lives of farmers. Let’s give these technologies and
changes a chance so that we can have a better chance of changing the current
state of our farmers,” Gregorio added.
Ryan Rodrigo Tayobong, FPSAP president, also underscored the need for advanced technology for plant research.
Ryan Rodrigo Tayobong, FPSAP president, also underscored the need for advanced technology for plant research.
“Advances in plant science
through the form of biotechnology or agro-engineering technology can create
various impacts in our society and environment and thus should incorporate
sustainable designs for future generations,” he said.
FPSAP is composed of the Crop
Science Society of the Philippines, the Philippine Seed Industry Association
Inc., PhilFruits Association Inc. and the Philippine Association of Plant
Tissue Culture and Biotechnology.
Gregorio also said Searca was
working toward elevating the quality of life of farmers by improving their
access to new, sustainable and resilient production technologies and systems,
and helping them integrate with modern post-harvest and logistics systems.
“Plant science and agriculture
must be able to cope with how fast new knowledge is generated and technologies
change,” he said.
Gregorio added that Searca, in
the next five years, would focus its efforts to facilitate interconnectedness
among the academe, industry and government to contribute to the United Nations
Sustainable Development Goals (SDGs), particularly on quality education;
industry, innovation, and infrastructure; and partnerships for the SDGs, among
others.
“We have to make agriculture
attractive and this begins with changing the mindset of farmers from being
producers to ‘agripreneurs’ and in having a holistic approach to the
agricultural value chain,” Gregorio said, challenging the participants to begin
innovating approaches in transforming the agricultural sector.
FPSAP organized the conference in
collaboration with the University of Southeastern Philippines and Southern
Mindanao Agriculture Aquatic and Resource Research Development Consortium.
It was co-sponsored by Searca,
the Philippine Council for Agriculture, Aquatic and Natural Resources Research
and Development, the Philippine Rice Research Institute, Corteva Agriscience,
Monsanto Philippines-Bayer Crop Science, and CropLife Philippines.
Protect coastal, island communities now as seas rise, scientists
urge
SEPTEMBER 25, 2019 / 9:38 PM /
LONDON (Thomson Reuters Foundation) - Melting of the world’s
glaciers and warming of its oceans are fuelling rising seas, fiercer storms,
worsening water shortages and other risks that could force millions from their
homes or leave them hungrier and poorer, scientists warned on Wednesday.
Some of the threat could be averted both by rapidly slashing
climate-heating emissions and speeding up efforts to adapt to the coming
changes, using everything from sea-walls to early warning systems for extreme
weather, they said.
But “we may be losing this race” to put protective measures in
place in time, warned Hoesung Lee, chair of the Intergovernmental Panel on
Climate Change (IPCC), a U.N.-backed panel of climate scientists.
Coastal communities, particularly in the tropics and on low-lying
islands, as well as people dependent on glacier melt for their water are most
at risk, scientists said in a new report outlining how climate change could
affect oceans and ice.
The report, crafted by more than 100 scientists from 36 countries,
said 680 million people live in low-lying coastal zones worldwide, a figure
expected to rise to 1 billion by 2050.
As sea level rises - driven increasingly by accelerating melting of
the world’s ice sheets as well as by ocean warming - those people will face
more frequent flooding and harsher storms that drive powerful seawater surges
inland, the scientists said.
Some areas that once flooded only every 100 years or so -
particularly on low-lying islands that are home to 65 million people - could
face annual flooding by 2050, they warned, unless strong protective measures
are put in place.
“This could create very vexing questions about the habitability of
some areas of the world,” said Debra Roberts, a South African scientist and a
co-author of the report.
ADAPTATION LIMITS
Zita Sebesvari, who studies environmental vulnerability at the
United Nations University, said many communities in Asia’s Mekong and
Ganges-Brahmaputra river deltas are already seeing their land become salt-laden
and infertile.
“People try to adapt, to introduce shrimp farming, but it’s a
riskier undertaking than rice farming - and once land is converted to saline
water, it’s hard to reuse as a rice field,” said Sebesvari, who looked at
sea-level rise for the report.
Cities could be protected in part with sea-walls, she said. But
costs and practicality mean more rural areas would likely have to rely on other
solutions, such as restoration of mangrove forests, which shelter fish and slow
storm surges.
However, measures such as protecting and planting mangroves are
only likely to be effective if efforts to cut emissions are hugely accelerated,
said Maarten van Aalst, a climate scientist and director of the Red Cross Red
Crescent Climate Center.
“At some point there will be no easy solutions,” he told the
Thomson Reuters Foundation. “There will be no nice options out there anymore if
the climate changes too much.”
Most work to improve safety for at-risk communities still comes
only after a big disaster, he said, while much construction - including
post-crisis rebuilding efforts - does not adequately take growing climate
threats into account.
Investing in cutting those risks makes economic sense - but elected
officials who do not anticipate a disaster during their term in office often
find it more politically expedient to spend on other things, he said.
COSTS OF PREPARATION
New York - which hosted the U.N. secretary-general’s climate summit
on Monday - is one city moving to cut its risk, in the wake of the destruction
caused by Hurricane Sandy in 2012.
It is building a $10-billion system of berms, removable barriers
and new, higher land at the fringes of lower Manhattan in an attempt to protect
itself from flooding and storms.
Germany, similarly, is constructing a series of dikes along the
North Sea coast, designed in a way that they can be elevated in the future if
sea-level rise exceeds current expectations, said Sebesvari of the U.N.
University.
But “many other cities in the world cannot afford that,” noted van
Aalst.
The cost barrier is even more serious for island states with
relatively small economies and resources but long coastlines, said Helene Jacot
des Combes, an IPCC report author who lives in the Marshall Islands.
“You can build sea-walls and dikes, but that means very high levels
of investment - we’re taking about millions of dollars,” she told the Thomson
Reuters Foundation.
“Managed retreat” - which means moving people away from risky
coastal areas, a response already happening in some countries - was one option,
she said, but only “if you have safe land to retreat to”, a problem for small
islands.
Valerie Masson-Delmotte, a French scientist and IPCC report author,
said the number of people who could be forced from their homes by rising seas
and other risks was unclear and depended on “the adaptation solutions that are
available - or not”.
DISAPPEARING WATER
Increasingly rapid glacier melt - particularly of smaller tropical
glaciers from Peru to Indonesia - also is likely to lead to worsening water
shortages that will affect farming, hydropower and even drinking water
supplies, scientists said.
“Changes in water availability will not just affect people in these
high mountain regions but also communities much further downstream,” said
Panmao Zhai, a Chinese author of the report.
Stepped-up efforts to share and manage scarce freshwater,
particularly from rivers that flow across borders, will be key to keeping
growing risks in check, he added.
Pakistan’s Prime Minister Imran Khan warned at the U.N. climate
summit this week that his country gets 80% of the river water it depends on
from glacier melt.
“If temperatures keep rising the way they are, we face catastrophe”
as water supplies decline, he said.
Reporting by Laurie Goering @lauriegoering; editing by Megan
Rowling. Please credit the Thomson Reuters Foundation, the charitable arm of
Thomson Reuters, that covers humanitarian news, climate change, resilience,
women's rights, trafficking and property rights. Visit news.trust.org/climate
Our Standards:The Thomson Reuters Trust Principles.
CRF calls on paddy farmers to delay sales
Hin Pisei | Publication date 25 September 2019 |
22:16 ICT
CRF secretary-general Lun Yeng said on Wednesday that more than 80
per cent of rice millers had postponed purchases of paddy earlier this week,
which has allowed brokers to buy it at prices lower than the market rate. Hong Menea
CRF secretary-general Lun Yeng
said on Wednesday that more than 80 per cent of rice millers had postponed
purchases of paddy since earlier this week, which has allowed brokers to buy it
at prices lower than the market rate.
“If their paddy is not [at risk
of being] affected by floods or destroyed by insects, farmers should not rush
to harvest. Good paddy should not be priced below 1,150-1,200 riel
[$0.28-$0.29] per kilogramme,” he said.
Narum, a rice farmer in Kratie
province, said prices in the province were not as high as they were last year.
This time last year, he could sell paddy for between 900 and 1,000 riel per
kilogramme, but must now settle for between 700 and 800 riel.
“If the price of paddy goes down
like this, farmers will lose out,” he said.
Most paddy harvested in the
province is immediately sold to traders, he said, adding that the
unavailability of warehouses and drying facilities left farmers no choice but
to sell their paddy after harvesting.
Heng Pheng, the CEO of Battambang
province-based Thmor Korl Rice Import Export Co Ltd, said the paddy prices in
the province this year is similar to that of last year – currently at about
1,150 riel per kg.
“Workers have gone home for the
Pchum Ben holiday, so farmers should not try to collect the rice now because it
will bring down prices,” he said.
Battambang provincial Department
of Commerce director Kim Hout on Wednesday said paddy yields in the province
have dropped 60-70 per cent due to a long drought compared to last year.
He said fragrant paddy is
currently priced at 1,130 riel per kg and IR paddy at around 700 riel.
“Rice prices in Battambang
province are fairly good, there isn’t much of a change,” he said.
Apeda seeks to step up organic produce exports
At present, different countries have different residual norms for
import of farm and food products: Officials.
India’s export of basmati rice has taken a hit due to strict
residual norms for Tricyclazole in Eurozone and countries like US, Saudi
Arabia, Iran, Jordon and Lebanon.
NEW DELHI: The
Agricultural and Processed Food Products Export Development Authority (Apeda)
is working with state governments to devise a strategy to boost export of
organic farm produce, said a senior official from the government body. “We are
working to devise a state-centric plan for organic food exports,” he
said. In this process, exporters would connect directly with farmers to
tie up for exports, and would guide them to grow crops in accordance with
specific country norms. At present, different countries have different residual
norms for import of farm and food products, the official said. India’s export
of basmati rice has taken a hit due to strict residual norms for Tricyclazole
in Eurozone and countries like US, Saudi Arabia, Iran, Jordon and Lebanon.
Therefore, it is important to educate and give proper guidelines to growers to
meet norms of key importing countries.
This would benefit both -
farmers and exporters, the official said. To boost export of organic farm and
food products from India, the Apeda is working to increase the number of
accredited laboratories that give certification. At present, there are 30
laboratories in India that give organic certification. “We are working towards
end-to-end certification for organic food, which means certification for
organic would be given right from the farm level to cover the entire value
chain including post-harvest management services,” he said.
There is huge potential to boost export of organic farm and food
products from the country, he added. India exports around 4.5 lakh tonnes of
organic products annually to countries like the US, Canada, Switzerland,
Australia, Israel, South Korea, Vietnam, New Zealand, Japan and European Union.
The country produces organic products like oilseeds, sugarcane, cereals,
millets, cotton, pulses, medicinal plants, tea, fruits, spices, dry fruits,
vegetables, coffee, and some other food products.
Acclaimed Chefs Tour
Mississippi Rice Country
By Lesley Dixon
GREENWOOD, ARCOLA, & GREENVILLE, MS --
Earlier this month, USA Rice brought seven foodservice chefs, nutritionists,
and award-winning individual chefs to Mississippi rice country for the fourth
iteration of the Foodservice Farm & Mill tour to learn and experience
first-hand the whole story of U.S.-grown rice from the field to their kitchens.
The tour kicked off with a
U.S.-grown rice presentation that covered the history, plant anatomy, and
nutritional profile of rice, and the latest in rice uses, applications across
all foodservice meal components, and foodservice trends for rice. Following the presentation, the group visited
the Delta Seed and Service Center where Mississippi rice farmer Carter Murrell
provided an informative walk through of the planting and harvest cycles, as
well as the drying, milling, and grading processes. He also spoke about sustainable farming
practices utilized in the state and shared his experiences with alternate
wetting and drying on his own family farm.
It was then a short ride down MS-438
to Marvin Cochran's farm and fields where harvest was in full swing. Cochran welcomed the group and explained the
proud history of rice farming in Mississippi.
Long line to ride a combine with
rice farmer Marvin Cochran
"There aren't many places in
the United States where you can say we're growing the seed, planting the rice,
harvesting it, drying it, and milling it all in the same county or parish, but
we can say that here in Washington County where you are standing right
now," Cochran told the group.
"That's pretty special and we're proud of that."
Cochran then saw to it all the
attendees got to ride in one of the two combines running that morning, which
was a highlight for all.
"Getting these chefs out into
the field to actually experience harvest is a vital part of the tour that gets
them thinking about our rice differently," said Cameron Jacobs, USA Rice
domestic promotion manager. "In the
field you can really see it click with our attendees. Rice goes from just something that's in their
pantry to a locally-grown crop being nurtured and prepared by family
farmers. This year's attendees were from
Chicago, New York City, Tampa, Nashville, Roanoke, Washington, DC, and the
Philadelphia area - this visit to the farm made an impact!"
After a rice-centric lunch,
attendees were ready to suit up for their tour of the Mars' Food U.S. facility
in Greenville that is home to the ready-to-heat process for Uncle Ben's quick
cook bags. At the facility, attendees
learned about the process, where rice is sourced, how quality of products are
ensured, and Mars' sustainability goals.
Admiring the ingredients
"It was great to learn more
about American grown rice from seed, to harvest, to mill, to polish, to
bag. I took away a lot from this
tour," said 3x James Beard nominee Chef Hari Cameron.
"I now know how unique the U.S.
rice industry is in its ability to produce all types of rice - long, medium,
and short grain, as well as aromatic and specialty varieties," added 2018
Rising Star winning Chef Jerome Grant.
New to the foodservice tour program
this year was a reality show-style cooking competition that took place
following the mill tour at the Viking Cooking School Test Kitchen in
Greenwood. Attendees were put into teams
of two and had to answer rice trivia questions to earn market baskets of different
ingredients including shrimp, catfish, chicken thighs, and pork
tenderloin.
Chefs then had one hour and their
choice of Uncle Ben's quick cook rice varieties to produce a dish that would be
judged for a chance to win a commercial Zojirushi rice cooker.Jacobs noted
while these tours are educational opportunities, it's also about establishing
and maintaining relationships with tour attendees.
"Restaurants have tremendous
influence on consumers, and the proper promotion and plating of U.S.-grown rice
can have a trickle-down effect to your everyday consumer," he said. "The more restaurants we get using U.S.
rice - and calling it out - the broader we can spread our messages and
awareness of our industry, and potentially impact consumer purchasing habits."
Tour participants represented more
than 1,600 restaurants from Bloomin' Brands (parent company for Outback,
Fleming's, Bonefish Grill, and Carrabba's Italian Grill), Logan's Road House,
Virginia Tech's dining services, the Restaurant Associates group, a(muse)
coastal cuisine, and the Smithsonian's African American History and Culture
Museum.
What it looks like when
professionals Think Rice
Imelda stamps
out rice crops, displaces cattle
Updated 10:01 am
CDT, Wednesday, September 25, 2019
Photo:
Ryan Welch, Beaumont Enterprise / The Enterprise
IMAGE 1 OF 34
Beau Picou, 13 and in the yellow, and Lane Elrod, 13, get a cow
into a trailer after it went into the water near Hamshire on Texas 124 Sunday.
Photo taken on Sunday, 09/22/19. Ryan Welch/The Enterprise
Farmers and ranchers in Southeast
Texas are doing their best to stabilize commodities in the wake of Tropical
Storm Imelda’s deluge, which may have impacted at least 25 percent of the
state’s eastern nonharvested rice crop.
A quarter of the rice crop in
Jefferson County alone was left in the ground as floodwaters rose, according to
crop yield surveys from the Texas A&M University AgriLIFE Research Center
at Beaumont. With 19,621 acres, Jefferson County is the largest producer of
rice in the state’s east zone, just ahead of Chambers County.
Beaumont Research Center Director
Lloyd “Ted” Wilson said the crops lost in the deluge of water only compounded
yields lost from spring rains that delayed planting.
“You lose about 310 pounds of yield
per every week planting is delayed, which can easily create a bad situation,”
Wilson said. “If you base your operation on planting in mid-April but are stuck
until mid-May, you’re looking at a loss of 1,240 pounds per acre.”
He said some local farmers’
plantings were delayed into June.
While Jefferson County farms were
experiencing low crop yields because of late plantings, as reported in the
Sept. 19 survey, Chambers County crops were affected negatively heat.
Along with conducting the yield
survey and partnering with local growers for production research, Wilson said
the Beaumont Research Center also conducts studies on the biology, ecology and
DNA of rice from root system to grain.
He said most of the center’s
buildings and equipment weathered the storm, but it did lose some plots of
research crop to the high waters.
Once water tops mature rice, the
plants begin to sprout and become unfit for human consumption. Some sprouted
rice can be converted to silage for animal feed.
Like other American grain
producers, rice farmers already had been eyeing economic issues, including the
brief gain and sudden loss of a new trade market.
Rice has been included along with
soybeans, wheat, corn, sorghum, corn flour and cereal flour on the list of
products targeted by China for tariffs in response to similar U.S. tariffs on
Chinese goods.
The U.S. did bag its first direct
export deal of rice to China this summer after American growers met with
Chinese importers at an expo in Guangzhou, China. However, growers were unable
to secure additional deals in the fall due to continued trade tensions. A day
before the domestic trade organization USA Rice hosted another series of
seminars in China for a group of more than 100 Chinese trade representatives,
President Donald Trump announced tariffs on an additional $250 billion worth of
Chinese goods.
“The day after the announced
tariffs, we heard credible reports that the Chinese government had contacted
agricultural importers and advised them to avoid purchasing U.S. products,” Jim
Guinn, USA Rice director of Asia promotion said in a statement. “A number of
attendees spoke about the trade tensions but it didn’t seem to temper their
longer term interest in U.S. rice. … Given this setback in trade relations, the
short term outlook for rice sales is not very positive in the absence of a
trade deal.”
Most of Jefferson County’s rice is
grown in its western and southern areas where high waters have isolated
communities over the past six days since Imelda made landfall.
Mike Doguet, turf farmer and
developer, said around 80 percent of his family’s rice crop was harvested when
the storm came through, but the real issues will come from the lack of a second
crop this season.
Most rice farmers in Texas rely on
profits from ratoon crops, which refers to plants that are cut to allow a
portion of the shoot to continue growing under the waterline for another
harvest. As the costs of water and fertilizer rose, farmers leaned heavily on
the reduced cost of ratoon crops to increase profitability.
Doguet said his turf farms in China
and Nome had drained by Saturday and were mostly intact. That allowed him to
shift focus on moving his cattle to higher ground.
“We had to do the same thing we did
in Harvey, move the cows a mile south since our water drains north toward the
bayou,” Doguet said.
Other cattle ranchers in the area
struggled through the weekend to find a safe spot for their cattle and a
reliable way to get feed to livestock.
Dustin Huff’s cattle in Winnie were
safe on a high bank near on his farm, but he spent much of Sunday helping other
ranchers swim their cattle to dry land.
All of this maneuvering also so
happened to crop up during calving season.
“Once we got most of them moved, we
noticed there was a baby calf left so we scooped it up in the boat and carried
him over,” Huff said.
While the ranchers were in the
pasture land, they also had to coordinate a drop of hay from a helicopter into
the fields. With most of the hay drenched and too heavy to lift, Huff said it
was difficult to find a dry roll to deliver.
Huff, who owns Renegade Industrial
Supply in Beaumont, said his Monday was dedicated to finding enough hay for his
own cattle and figuring out what to do with a flooded tractor.
The number of farms in Jefferson
County has been shrinking over the past decade, but the farms are growing in
acreage as older farmers either pass down their land or farmers buy up their
neighbors’ farmsteads.
The county had 793 farms in 2007
with an average size of 420 acres, according to the U.S. Department of
Agriculture census. In 2017, Jefferson County counted 729 farms with an average
size of 429 acres. Those farms are home to about 46,000 head of cattle.
Bennett DeMoss, executive director
for the Texas A&M AgriLIFE Extension Program in Jefferson County, said the
scope of damage to the area’s farms would likely trickle in over the next week,
but there were some options available to farmers right now.
“Generally with a disaster
declaration at any level like the one addressed by Gov. Abbott will open up
different funding avenues for programs through the USDA,” DeMoss said.
Congress approved $3 billion in
June for use in the Wildfire and Hurricane Indemnity Program Plus (WHIP+) that
will allow for farmers that lost crops in 2018 or 2019 to recoup between 75
percent to 95 percent of the crop’s worth, depending on the level of crop
insurance coverage or NAP coverage that a producer obtained for the crop.
WHIP+ can be claimed when a
presidential or secretarial level disaster is announced.
Information on the program and
other USDA offerings is availableat fsa.usda.gov.
jacob.dick@beaumontenterprise.com
Twitter.com/jdickjournalism
https://www.beaumontenterprise.com/news/article/Stranded-cows-lost-crops-14464614.php#photo-18317039
Overcoming a slow start, rice farmers expect good crop
Share
Issue
Date: September 25, 2019
By
Ching Lee
Colusa County farmer Don Traynham, harvests a field of short-grain
rice. The earlier-maturing variety is typically the first to be harvested in
the Sacramento Valley.
Photo/Ching Lee
Photo/Ching Lee
Traynham started harvest about two weeks ago on fields of short-grain rice, a shorter-season variety that typically matures about 10 days earlier than medium-grain Calrose, the predominant variety grown in the state. He said he expects more growers in the Sacramento Valley will begin to ramp up harvest this week.
Wet conditions prevented him from planting about 15% of his acreage. Though growers expressed concern in the spring that later planting could lead to lower yields, Traynham described his yields so far as "very good" and comparable to his production last year.
"My gut instinct tells me that about 75% of this crop across California is going to be good, similar to what has been the last couple of years," he said. "The question mark is the last 25% that we planted very late and not in ideal conditions. That's where I think we'll see some yield loss."
Mike DeWit, who farms rice in Yolo and Sutter counties, won't start harvest for another week or so, but he described the "outward appearance" of his crop as "good," despite some challenges this year with weed control, as wind and rain in the spring "messed up some herbicide applications."
Because some of his rice ground lies in the Sutter Bypass, which stayed too saturated to plant, DeWit said he left those acres fallow and filed for prevented-planting insurance. Considering the troubles growers experienced in the spring trying to plant their crop, he said "nobody's complaining" now, though he added he doesn't think yields will be as high as last year.
"It looks a lot better than it started out," he said. "I think we dodged a big bullet and had almost a perfect growing season over the summer that brought the crop along—better than we expected, given the start."
With most of his rice acreage up against the Sutter Bypass, Sutter County grower David Richter said seepage in the fields pushed planting back by about 10 days, with one field left unplanted because it didn't dry in time. He described most of his rice stands as looking "pretty good," though he said that is not a sure sign of a healthy crop, as farmers won't know their true yields until they harvest the crop and get it in the dryer.
"Are we going to have blanks? That's the big question," he said. "Traditionally, the later you get, the less yields you get, but that's not always the case."
Richter said his region did receive some light rain early last week that may have halted harvest a day for those who had gotten started. With his own fields still about a week away from being ready, he said the brief moisture dried quickly and was not enough to cause lodging or other problems.
Though he won't know how well his crop produced until he starts harvesting sometime this week, Colusa County grower Don Bransford said he usually looks to the state's tomato crop as a predictor.
"Our rule of thumb is if the yields on the tomatoes are good, then the rice tends to be good—and the tomato crop has been excellent," he said, noting that a few growers he's talked to who've harvested some of their rice say their yields are up this year.
Growers say they're encouraged by the market for the crop they're harvesting, as low rice inventories have helped prices. This stands in contrast to two years ago, when an oversupply dragged prices to unprofitable levels, Traynham said. Buyers took advantage of the lower prices, allowing marketers to sell most of the stock coming into the 2018 season.
Despite the later plantings, California rice acreage remains similar to last year's levels—492,000 compared to 506,000 in 2018, according to the U.S. Department of Agriculture. Traynham said growers are coming into the 2019 harvest season with low stocks again and "supply and demand in balance."
"There's not much rice out there," DeWit said. "All the indications are the market is fairly stable, if not on an upward trend. Guys with not too many mistakes can make money at today's prices."
With China finally buying American rice after reaching a deal with the U.S. in 2017—and the first confirmed sale to the Asian nation by a California rice company this year—Bransford said the Chinese export market "has the potential to hugely impact the industry in a positive way."
"But until these trade disputes get resolved, who knows what's going to happen," he added.
(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.
Why price of local rice is
high
Millers By Vincent A. Yusuf (Abuja) & Nabob Ogbonna (Abakiliki)
| Published Date Sep 26, 2019 2:04 AM TwitterFacebookWhatsAppTelegram Bags of
locally produced rice • Say border closure boosts capacity
A few weeks ago, President Muhammadu Buhari,
in an unprecedented move, shut down the nation’s borders as efforts by the
Nigeria Customs to curtail cross-border smuggling activities, which is badly
affecting rice farmers and processors, particularly, appeared fruitless.
ADVERTISEMENT NOMINATE AFRICAN OF THE YEAR 2019 The closure led to increased
activities in the local rice industry as cost of the foreign variety shot
beyond the reach of most average Nigerians who hitherto did not see much good
in what is produced locally.
However, some believe the price of
the local rice is still high as an effective alternative to the imported
variety. For example, a 50kg bag of Mama Pride rice produced by Olam rice farm
in Rukubi, Nasarawa State, at some shopping malls, costs between N19, 500 and
N19, 999 while Tomato Rice, which is a Thai imported brand costs between
N21,000 and N23,000 – an insignificant difference. This inconsequential
difference, some observers said, might not change the attitude of loyal foreign
rice consumers. “Until a 50kg bag of imported rice costs two times the price of
local rice and the smuggling routes along the northern fringes are heavily
controlled, affordable imported rice will still hit our local markets,” a
consumer, Sani Bello, told this reporter in Abuja. In Doma, Nasarawa State,
this reporter witnessed increased activities around rice and farmers appeared
to be happy with the business. But their conversation on the cost of production
showed they were concerned over the
rising cost of labour, quality seeds,
and climate related issues, which they said affect yield and turnover.
But for the processors, the heydays are here.
Market for their product has broadened as even
local small mill operators also record increased demand for rice. Big players
who have invested so much in the production are also very happy, Daily Trust
gathered. Alhaji Abdullahi Idris Zuru, Managing Director, Labana Rice Mills Ltd
in Birnin Kebbi, Kebbi State, in a telephone interview with Daily Trust,
acknowledged that the closure of the border has improved their sales. “The
truth is it has improved our sales and it has equally increased our production.
Before the closure, most of the existing rice mills had milled and stored the
commodity in their warehouses because there was no market. Some even suspended
production. For those who are strong, they kept on milling and storing despite
absence of any good sale,” he said. Alhaji Idris painted two scenarios which he
said hold serious implications in allowing massive foreign rice smuggling. One
was that the federal government, through the CBN, gave farmers loans under the
Anchor Borrowers’ Programme and the farmers have produced the commodity and
they are expected to pay back the loan. He however noted that where the millers
are unable to buy from the farmers, they would not be able to repay the loan.
“Even if we buy, we buy it without
much value because we are not selling and at the end of the day, the farmer cannot
even get the cost of production not to talk of profit,” he added. Secondly,
Zuru said, investors who heeded government’s call and invested in the
agro-allied industry will be in a fix because at the end of the day, they will
produce but they cannot sell, adding that there were rice mills that government
assisted with loans to buy machinery and which spent more money processing rice
that they have not been able to sell. “These are serious problems. Some rice
mills suspended production, some reduced their workforce, some have been
operating under capacity but with the border closure, almost all the mills have
picked up. The millers are selling, the farmers are selling and if this is
sustained, you will see more people going back to the farm to continue rice
production and the millers too will increase their capacity,” the Labana Rice
MD stated. Why price of local rice is
high The Managing Director, Labana Rice Mills Ltd, explained why the price of
the local rice has gone up. “To be honest with you, the price has increased to
some extent because, with the border closure, millers went out to get paddy
from farmers and the farmers, knowing that the borders have been closed, and
the millers will come for it, increased the price, and only a few of them have
it because some had earlier given up on the business because the price was not
encouraging.
“A ton of rice which was sold at
N100,000, is about N120,000 to N122, 000 as I speak with you now. If the
farmers are encouraged and they return to the farm based on this policy and
produce more, basically the price will crash and if the millers process more,
the price will drop for the consumers. “When more mills come on board, the
price must drop. The current price is because the policy has just come on
board,” Alhaji Idris said.
Mr Ade Adefeko, Vice President, Corporate and
Government Relations, who is also in charge of External Communication and
Stakeholder Management at Olam Nigeria, a major rice producer with 14,000
hectares of farmland, told Daily Trust
that about two million metric tons of foreign rice were smuggled into
the country annually through various
land borders. He added that the border closure policy was in the right
direction as it would protect the investments in the country’s rice industry.
But he expressed worry that the
smugglers have developed new and “more innovative routes” over the years to
bring rice into the country, adding that “this trade of smuggling rice into
Nigeria evolved over time especially since the ban on direct rice imports into
Nigerian ports.
” The Olam vice president expressed
belief that “apart from the strict border control policies, the solution lay in
the economic policy of making Nigerian paddy and finished rice cheaper and
passing on a strong message of advocating Nigerian rice to all consumers
consistently through the mass media. “Smuggling probably can’t be completely
removed, but it can be drastically reduced if this two-pronged strategy is
implemented with zeal.”
Increased milling activities since border closure Alhaji Mohammed
Abubakar Maifata, National Chairman of Rice Processors Association of Nigeria
(RIPAN), at a press conference in Abuja, confirmed that mills that were
hitherto unable to compete have now resumed production.
RIPAN at the press conference, said without
the intervention, Nigeria would have lost about $400 million (about N150
billion) to smuggling. Similarly, the Secretary General of Rice Millers,
Importers and Distributors Association of Nigeria (RIMIDAN), Muhammed Shuaib,
stated that millers were increasing their capacity with production and now
recording additional one million metric tons. Reports from Ebonyi State, a
major rice hub in the South-east, indicated that there has been increased
activity in the rice business. At the popular Abakaliki rice
mill in the state, traders at the market said the closure of
the border has tremendously impacted the business of rice. The traders, called on the federal government not to
reopen the border but to provide loan for rice farmers in the state to expand
production. Mr. Peter Simeon, who has spent over 46 years in the business, made
the call while speaking with Daily Trust in Abakaliki. “Since the closure,
traders from Lagos State, Anambra, Aba and Port Harcourt are now buying rice
from this mill.
“Yesterday, I sold many bags to traders from
Port Harcourt, Aba, Owerri among others. “So these days, rice farmers smile
home with their cash as against what obtained before when milled rice stayed in
our hands for weeks before we sold it. Now we don’t have leftover as it used to
be. “That is why we are calling on the federal government to continue with the
closure of the border,’’ Mr. Simeon said.
Bumpy transition
aside, rice trade liberalization a good reform–ADB
-
September 26, 2019
AMID the decline in the average
farm-gate price of unhusked rice, the Asian Development Bank (ADB) reiterated
its support for the rice trade liberalization law, saying it remains “a good
reform.”
In a press briefing on Wednesday,
ADB Country Director for the Philippines Kelly Bird said agricultural reforms,
such as Republic Act 11203 or the rice trace liberalization
law, would “naturally” encounter bumpy roads.
law, would “naturally” encounter bumpy roads.
Bird noted that the law is not
only concerned with rice imports, but is also focused on expanding
mechanization, which can lead to higher agricultural productivity.
“These reforms are fairly new.
And when these kinds of agricultural reforms are implemented, there’s going to
be a complex transition stage where it’s going to be a little bumpy in the
first few years,” Bird said.
Bird recalled that when his
native country, New Zealand, decided to implement agricultural reforms in the
1980s, his country went through a complex transition period.
However, once the situation
stabilized, Bird said the reforms led to higher growth and agricultural
productivity. This is an important lesson that the Philippines must keep in
mind, given its low farm productivity.
National Economic and Development
Authority (Neda) Assistant Secretary Mercedita A. Sombilla told the
BusinessMirror that the recent decline in the average farm-gate price of palay
was due to “transitional adjustments” caused by the implementation of RA 11203.
Sombilla also said this may have
also been brought about by the delay in the government’s release of the P10
billion for the Rice CompetitivenessEnhancement Fund (RCEF) fund this year.
The RCEF, derived from tariffs
collected from rice imports, is supposed to bankroll reforms in the rice
sector.
The Philippine Statistics
Authority (PSA) said the average farm-gate price of unhusked rice fell to an
average of P8 per kilogram to P10 per kilogram in August. Palay is usually more
expensive during the lean months of July to September, when harvest declines
significantly.
National Statistician and Civil
Registrar Dennis S. Mapa told reporters in the third and fourth week of August,
the PSA’s price monitoring revealed low prices for wet palay, particularly in
Luzon.
In other provinces, such as those
in Visayas, Mapa said farm-gate prices of wet palay were at P14 to P18 per kg
in August.
Image Credits: Nonie Reyes
DOF open to proposed cash subsidy for farmers
By: Ben O. de Vera - Reporter / @bendeveraINQ
Philippine Daily Inquirer / 05:18 AM September 26,
2019
The head of
the Duterte administration’s economic team is open to a proposal to give away
cash to farmers who are suffering from lower palay prices as a result of the
rice tariffication law.
Finance
Secretary Carlos Dominguez III told reporters that he was also amenable to Sen.
Juan Miguel “Migz” Zubiri’s suggestion to provide rice instead of money to
recipients of the government’s Pantawid Pamilyang Pilipino Program (4Ps) amid a
supposed domestic oversupply of the Filipino staple food.
However,
Dominguez said it might be difficult for the Department of Social Welfare and Development
to hand out rice instead of money to 4Ps beneficiaries.
“Sure, they
can do it. But it’s going to be a logistics problem,” Dominguez said.
As for the
proposed cash transfers to palay farmers, Dominguez said the required funding
would come from the rice import tariff collection in excess of the P10 billion
in yearly allotment for the Rice Competitiveness Enhancement Fund.
From March
to September, the government has already collected P10.7 billion in import
duties, Dominguez said.
While Sen.
Francis Pangilinan wanted a P13-billion cash assistance to farmers, Dominguez
said the Department of Finance (DOF) had yet to determine how much money the
government could directly give to those affected by the influx of rice imports.
“It depends
on how much we collect extra. Because our interpretation of the law is that
it’s P10 billion, that’s one pot. Anything over that, we can reinvest in the
assistance program,” which included cash transfers, Dominguez said.
https://business.inquirer.net/279766/dof-open-to-proposed-cash-subsidy-for-farmers#ixzz60cjI3VSz
https://business.inquirer.net/279766/dof-open-to-proposed-cash-subsidy-for-farmers#ixzz60cjI3VSz
Sonny agrees with Kiko: Farmers need immediate
cash amid flood of rice imports
Last updated Sep 25, 2019
POLITIKO - The bible of
Philippine Politics.
The Department of Finance (DoF)
is backing Senator Kiko Pangilinan’s call to provide P13-billion immediate cash
assistance to rice farmers affected by the Rice Tariffication Law.
“We think that a cash transfer
program should be developed for the affected rice farmers using the excess,”
Finance Secretary Carlos Dominguez said on Wednesday during the hearing on the
proposed 2020 budget of the DoF and its attached agencies.
The fund will come from the fund
balance of P4 billion of the P10 billion appropriated for the Rice
Competitiveness Enhancement Fund (RCEF) under the unprogrammed appropriations
of the 2019 national budget and the P9.19 billion collected as tariff revenues
from rice importation from March 5, 2019 to August 31, 2019.
“The need is now. The biggest
bulk of palay purchases are done September to December so 60 percent of our
harvests come in. Therefore, with the inflow of largest supply of locally
produced palay, the tendency would be that the prices would drop further, and
that’s why the assistance should come immediately,” said Pangilinan.
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While the DoF is looking at the
joint resolution, Pangilinan asked the DoF to extend immediate cash assistance
to rice farmers whose income has been affected by the influx of imported rice
in the market.
“In the interim, maybe two or
three years, a portion of the mechanization allocation or a portion of the
in-bred seed allocation should be made as direct cash assistance,” Pangilinan
told Dominguez.
“We’re not looking at increasing
appropriation. We’re just looking at realigning the current appropriation,” he
added.The Philippine Institute for Development Studies (PIDS) earlier proposed
that cash assistance to rice farmers should be made available but it was not
adopted in the Rice Tariffication Law.
Fresh produce up for grabs
as UP climate group launches farmers market
ABS-CBN News
MANILA - Consumers will get a chance to buy products directly
from farmers around the country on Thursday and Friday at University of the
Philippines Diliman.
"Bagsakan: A Farmers Market" will be at the CASAA
grounds and will be open from 9 a.m. to 4 p.m. This event is accompanied by a
book launch, "Imperialist Plunder of Philippine Agriculture" on
Thursday that will run from 9 a.m. to 12 p.m.
Organized by the Global Climate Strike Diliman -- an alliance of
UP student organizations, environmental groups, student councils, UP agencies,
and mass organizations -- the event eyes to help impoverished farmers.
"This model of commerce skips the middleman and gives
farmers a wider margin of profit for their labor," Global Climate Strike
Diliman said in a statement.
Farmers have complained that the price of palay has dropped to
P7 to P11 a kilo due to a flood of cheap rice imports.
The Rice Tariffication Law, signed by President Rodrigo Duterte
in February, removed the cap on rice imports and allotted P10 billion from
tariffs to aid farmers every year.
NFA allots P700M to buy palay from Bicol
farmers
By: Mar S. Arguelles - Correspondent / @msarguellesINQ
Inquirer Southern Luzon / 02:05 PM September 25,
2019
LEGAZPI CITY
— The National Food Authority (NFA) in Bicol has allotted P700 million for the
procurement of palay from local rice farmers in the region.
“The palay
price would range from P19 to P10 per kilo, depending on the quality of palay
the farmers are selling,” said Henry Tristeza, director of NFA in Bicol.
He said NFA
offers the farmers the prevailing buying price of P19 per kilo of well-dried
palay and P10 per kilo of wet palay.
There are
eight NFA buying stations in Bicol, and five more would be set up during the
peak harvest season starting October until December.
The NFA
warehouses have 205,000 bags of rice as buffer stocks for nine days.
Tristeza
said consumers could also purchase NFA rice in all accredited rice retail
outlets without limit. /lzb
https://newsinfo.inquirer.net/1169348/nfa-allots-p700m-to-buy-palay-from-bicol-farmers#ixzz60cmqrqnR
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Thailand’s
rice subsidy program may affect Vietnam: rice operators
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Rice exports $265M in first eight months
Thou Vireak | Publication date 25 September 2019 |
22:18 ICT
Cambodian rice exports to international markets were worth more
than $265 million in the first eight months of the year, said Cambodia Rice
Federation (CRF) secretary-general Lun Yeng. Hean Rangsey
Cambodian rice exports to
international markets were worth more than $265 million in the first eight
months of the year, said Cambodia Rice Federation (CRF) secretary-general Lun
Yeng.
Yeng told The Post on Wednesday
that the Kingdom exported more than 340,000 tonnes of rice during the period.
Rice exports last year, he said, reached more than 620,000 tonnes or more than
$473 million.
CRF data shows Cambodia exported
342,080 tonnes of rice in the first eight months of this year – up 0.13 per
cent year-on-year. However, exports to European markets were down 32.09 per
cent, or 120,085 tonnes.
Figures show that during the
period, the Kingdom exported 132,947 tonnes of rice to China, up 54.38 per cent
year-on-year; 43,317 tonnes to Asean, up 12.68 per cent year-on-year, and
45,731 tonnes the US, Canada, Australia and African countries, up 13.63 per
cent year-on-year.
Cambodian rice exports to the
European market have continued to decline since the implementation of European
safeguard measures earlier this year, which imposed nearly $187 per tonne in
tariffs on the Kingdom, said Yeng, giving a figure lower than the €175 ($192)
levy set by the EU for this year.
“Although the volume of rice
exported to the EU had declined, revenue increased because our fragrant rice is
more expensive than white rice,” he said.
He said in efforts to boost rice
exports to Europe, the CRF plans to meet directly with European farmers in the
next month to find a solution.
“First, the CRF will try to
coordinate with European farmers. We recognise that our white rice has an
impact on them, but our fragrant rice does not affect them because they do not
produce fragrant rice.
“We will try to persuade Europe
[the EU] not to continue taxing our rice after the end of the [three-year]
term,” he said.
In the first half of this year,
Cambodia exported 247,769 tonnes of rice worth over $188.29 million, up 24.45
per cent year-on-year, a Ministry of Commerce report shows. Destination markets
include the US, Europe, Canada, China and Asean countries.
Thailand’s rice exports hampered by strong baht
Thai rice exports are likely to stay below targets as the strong
baht weakens competitiveness in the world market (Photo: Bangkok Post)
September 25, 2019
By
Bangkok (VNA) – Thai rice exports
are likely to stay below targets as the strong baht weakens
competitiveness in the world market.
competitiveness in the world market.
Honorary president of the Thai Rice
Exporters Association Chookiat Ophaswongse said Thai rice shipments may drop to
as low as 8 million tonnes this year, led by a sharp decline in white rice
exports.
exports.
He predicted that the continued
strong baht, which makes Thai rice more expensive than grains from other
countries, will lower white rice shipments by up to 35 percent from 5.49
million tonnes last year, adding that Thailand’s rice exports totalled only 6
million tonnes at the end of September.
The free-on-board prices of Thai 5
percent white rice are 400 USD a tonne, while those of Vietnamese rice are at
320 USD a tonne.
Prices for paddy rice in Vietnam
are also much lower, at 5,600 THB (183.67 USD) per tonne, while those of Thai
rice are at 7,500-7,800 THB a tonne.
Chookiat said the Vietnamese
currency has been quite stable since last year, adding that because of the
strong baht, buyers like the Philippines, Indonesia and Malaysia are projected
to switch to
buying rice from Vietnam instead of Thailand.
buying rice from Vietnam instead of Thailand.
Normally Thailand’s rice exports
average 10 million tonnes a year, with white rice making up half the amount.
Chookiat said white rice shipments may reach just 3 million tonnes this year.
In July, the association lowered
its target for the country’s annual rice exports from 9.5 million tonnes to 9
million. Of the total, white rice will account for 3.9 million tonnes.
According to the latest report by
the Thailand’s Commerce Ministry, rice exports fell by 26.3 percent to 5.3
milliontonnes in the first eight months, while export value slid 22 percent to
2.87 billion USD.
In a move to boost rice exports, the
Trade Policy and Strategy Office of Thailand will ask the commerce minister to
pay a visit to Asian buyers like the Philippines and China./.
VNA
Nagpur
Foodgrain Prices Open- September 26, 2019
EPTEMBER 26, 2019 /
* * * * * *
Nagpur Foodgrain Prices – APMC/Open Market-September 26, 2018
Nagpur, Sept 26 (Reuters) – Gram and tuar prices firmed up again in Nagpur
Agriculture Produce and Marketing Committee (APMC) here on increased seasonal
demand from local millers amid weak supply from producing belts because of
rains in parts of regions. Healthy rise on NCDEX in gram, good recovery in
Madhya Pradesh pulses and enquiries from South-based millers also jacked up
prices. About 600 bags of gram and 50 bags of tuar reported for auction,
according to sources.
GRAM
* Gram varieties ruled steady in open market here matching the
demand and supply
position.
TUAR
* Tuar gavarani reported higher in open market on good seasonal
demand from local
traders.
* Major rice varieties recovered in open market here on increased
festival season
demand from local traders amid weak supply from producing regions.
* In Akola, Tuar New – 5,500-5,700, Tuar dal (clean) – 8,100-8,200,
Udid Mogar (clean)
– 7,300-8,100, Moong Mogar (clean) 8,200-8,900, Gram – 4,300-4,400,
Gram Super best
– 5,600-6,000 * Wheat and other foodgrain items moved in a narrow
range in
scattered deals and settled at last levels in weak trading
activity.
Nagpur foodgrains APMC auction/open-market prices in rupees for 100
kg
FOODGRAINS Available prices Previous close
Gram Auction 3,750-4,325 3,650-4,300
Gram Pink Auction n.a. 2,100-2,600
Tuar Auction 5,100-5,450 5,000-5,450
Moong Auction n.a. 3,950-4,200
Udid Auction n.a. 4,300-4,500
Masoor Auction n.a. 2,200-2,500
Wheat Lokwan Auction 2,000-2,015 1,950-2,040
Wheat Sharbati Auction n.a. 2,900-3,000
Gram Super Best Bold 5,800-6,000 5,800-6,000
Gram Super Best n.a. n.a.
Gram Medium Best 5,400-5,600 5,400-5,600
Gram Dal Medium n.a. n.a
Gram Mill Quality 4,350-4,450 4,350-4,450
Desi gram Raw 4,400-4,500 4,400-4,500
Gram Kabuli 8,300-10,000 8,300-10,000
Tuar Fataka Best-New 8,300-8,400 8,300-8,400
Tuar Fataka Medium-New 7,800-8,100 7,800-8,100
Tuar Dal Best Phod-New 7,400-7,600 7,400-7,600
Tuar Dal Medium phod-New 6,800-7,200 6,800-7,200
Tuar Gavarani New 5,850-5,950 5,800-5,900
Tuar Karnataka 6,050-6,150 6,050-6,150
Masoor dal best 5,500-5,700 5,500-5,700
Masoor dal medium 5,200-5,400 5,200-5,400
Masoor n.a. n.a.
Moong Mogar bold (New) 8,500-9,000 8,500-9,000
Moong Mogar Medium 7,000-7,800 7,000-7,800
Moong dal Chilka New 7,200-7,800 7,200-7,800
Moong Mill quality n.a. n.a.
Moong Chamki best 8,400-8,900 8,400-8,900
Udid Mogar best (100 INR/KG) (New) 7,500-8,200 7,500-8,200
Udid Mogar Medium (100 INR/KG) 6,000-7,000 6,000-7,000
Udid Dal Black (100 INR/KG) 4,700-5,300 4,500-5,100
Mot (100 INR/KG) 5,650-6,750 5,600-6,700
Lakhodi dal (100 INR/kg) 4,700-5,000 4,800-5,100
Watana Dal (100 INR/KG) 5,800-6,000 5,800-6,000
Watana Green Best (100 INR/KG) 7,500-8,000 7,500-8,000
Wheat 308 (100 INR/KG) 2,250-2,350 2,250-2,350
Wheat Mill quality (100 INR/KG) 2,100-2,200 2,100-2,200
Wheat Filter (100 INR/KG) 2,650-2,750 2,650-2,750
Wheat Lokwan best (100 INR/KG) 2,550-2,650 2,550-2,650
Wheat Lokwan medium (100 INR/KG) 2,300-2,450 2,300-2,450
Lokwan Hath Binar (100 INR/KG) n.a. n.a.
MP Sharbati Best (100 INR/KG) 3,200-4,000 3,200-4,000
MP Sharbati Medium (100 INR/KG) 2,600-3,100 2,600-3,100
Rice Parmal (100 INR/KG) 2,400-2,500 2,200-2,300
Rice BPT best new (100 INR/KG) 3,200-3,600 2,900-3,400
Rice BPT medium new(100 INR/KG) 2,700-3,100 2,500-3,000
Rice Luchai (100 INR/KG) 3,000-3,000 2,900-3,000
Rice Swarna best new (100 INR/KG) 2,500-2,700 2,500-2,650
Rice Swarna medium new (100 INR/KG)2,300-2,400 2,200-2,300
Rice HMT best new (100 INR/KG) 3,800-4,000 3,600-4,000
Rice HMT medium new (100 INR/KG) 3,300-3,500 3,200-3,400
Rice Shriram best new(100 INR/KG) 4,600-5,000 4,400-5,000
Rice Shriram med new (100 INR/KG) 4,200-4,500 4,100-4,300
Rice Basmati best (100 INR/KG) 8,500-13,500 8,200-13,500
Rice Basmati Medium (100 INR/KG) 5,000-7,200 5,000-7,200
Rice Chinnor best new 100 INR/KG) 5,400-5,700 5,300-5,700
Rice Chinnor medium new(100 INR/KG)5,100-5,200 5,000-5,200
Jowar Gavarani (100 INR/KG) 2,350-2,550 2,350-2,550
Jowar CH-5 (100 INR/KG) 2,050-2,250 2,050-2,250 WEATHER (NAGPUR)
Maximum temp. 28.9 degree Celsius, minimum temp. 23.3 degree Celsius Rainfall :
48.1 mm FORECAST: Generally cloudy sky with one or two spells of rains or
thunder-showers. Maximum and minimum temperature likely to be around 30 degree
Celsius and 24 degree Celsius respectively. Note: n.a.—not available (For oils,
transport costs are excluded from plant delivery prices, but included in market
prices)
Our Standards:The Thomson Reuters Trust Principles.
Rice in govt. godowns
under lens
MACHILIPATNAM, SEPTEMBER
24, 2019 07:14 IST
Quality matters: Krishna District Joint Collector K. Madhavilatha
inspecting rice at the Food Corporation of India’s godown at Machilipatnam in
Krishna district.
Panel gets down to the task of collecting samples
A five-member committee headed by
by Krishna district Joint Collector K. Madhavilatha of whom external experts
are also members, on Monday began inspection of rice stored in godowns across
the district, collecting at least 1,000 samples for testing before recommending
for distribution through the Public Distribution System (PDS).
The committee was constituted by
the government in the wake of complaints that poor quality rice was distributed
last month under its prestigious project of supplying fine variety through the
PDS.
Speaking to newsmen after inspecting
the rice stored in the Food Corporation of India’s godown here, Ms.
Madhavilatha said 85,000 tonnes is stored in the eight godowns of the FCI, the
Central Warehousing Corporation and others in the district. She said a report
on broken and discoloured rice would be sent to the Civil Supplies Department.
Rice Prices
as on : 26-09-2019 10:34:31 AM
Arrivals in tonnes;prices in Rs/quintal in domestic market.
|
Arrivals
|
Price
|
|||||
|
Current
|
%
change |
Season
cumulative |
Modal
|
Prev.
Modal |
Prev.Yr
%change |
|
|
Rice
|
||||||
|
Jambusar(Kaavi)(Guj)
|
1.00
|
NC
|
62.00
|
3100
|
3000
|
-
|
|
Aroor(Ker)
|
1.00
|
NC
|
5.00
|
10000
|
10000
|
9.89
|
|
Achalda(UP)
|
1.00
|
-16.67
|
24.90
|
2600
|
2650
|
85.71
|
Published
on September 26, 2019
Nagpur
Foodgrain Prices Open- September 25, 2019
SEPTEMBER 25, 2019 / 1:45 PM
* * * * * *
Nagpur Foodgrain Prices – APMC/Open Market-September 25, 2019.
Nagpur, Sept 25 (Reuters) – Gram and tuar prices reported strong in Nagpur
Agriculture Produce and Marketing Committee (APMC) here on good buying support
from local millers amid tight supply from producing belts because of rains in
parts of regions. Notable rise on NCDEX in gram, healthy rise in Madhya Pradesh
pulses and reported demand from South-based millers also helped to push up
prices. About 800 bags of gram and 150 bags of tuar reported for auction,
according to sources.
GRAM
* Desi gram raw recovered further in open market on good festival
season demand from
local traders amid weak arrival from producing regions.
TUAR
* Tuar varieties ruled steady in open market here on subdued demand
from local
traders.
* Wheat MP Sharbatai reported down in open market here on poor
demand from
local traders amid increased supply from producing regions.
* In Akola, Tuar New – 5,500-5,700, Tuar dal (clean) – 8,100-8,200,
Udid Mogar (clean)
– 7,300-8,100, Moong Mogar (clean) 8,200-8,900, Gram – 4,300-4,400,
Gram Super best
– 5,600-6,000 * Other varieties of wheat, rice and other foodgrain
items moved in a narrow range in
scattered deals and settled at last levels in thin trading
activity.
Nagpur foodgrains APMC auction/open-market prices in rupees for 100
kg
FOODGRAINS Available prices Previous close
Gram Auction 3,650-4,295 3,600-4,250
Gram Pink Auction n.a. 2,100-2,600
Tuar Auction 5,000-5,600 4,900-5,400
Moong Auction n.a. 3,950-4,200
Udid Auction n.a. 4,300-4,500
Masoor Auction n.a. 2,200-2,500
Wheat Lokwan Auction 1,950-2,040 1,950-2,040
Wheat Sharbati Auction n.a. 2,900-3,000
Gram Super Best Bold 5,800-6,000 5,800-6,000
Gram Super Best n.a. n.a.
Gram Medium Best 5,400-5,600 5,400-5,600
Gram Dal Medium n.a. n.a
Gram Mill Quality 4,350-4,450 4,350-4,450
Desi gram Raw 4,400-4,500 4,300-4,400
Gram Kabuli 8,300-10,000 8,300-10,000
Tuar Fataka Best-New 8,300-8,400 8,300-8,400
Tuar Fataka Medium-New 7,800-8,100 7,800-8,100
Tuar Dal Best Phod-New 7,400-7,600 7,400-7,600
Tuar Dal Medium phod-New 6,800-7,200 6,800-7,200
Tuar Gavarani New 5,800-5,900 5,800-5,900
Tuar Karnataka 6,050-6,150 6,050-6,150
Masoor dal best 5,500-5,700 5,500-5,700
Masoor dal medium 5,200-5,400 5,200-5,400
Masoor n.a. n.a.
Moong Mogar bold (New) 8,500-9,000 8,500-9,000
Moong Mogar Medium 7,000-7,800 7,000-7,800
Moong dal Chilka New 7,200-7,800 7,200-7,800
Moong Mill quality n.a. n.a.
Moong Chamki best 8,400-8,900 8,400-8,900
Udid Mogar best (100 INR/KG) (New) 7,500-8,200 7,500-8,200
Udid Mogar Medium (100 INR/KG) 6,000-7,000 6,000-7,000
Udid Dal Black (100 INR/KG) 4,700-5,300 4,500-5,100
Mot (100 INR/KG) 5,650-6,750 5,600-6,700
Lakhodi dal (100 INR/kg) 4,700-5,000 4,800-5,100
Watana Dal (100 INR/KG) 5,800-6,000 5,800-6,000
Watana Green Best (100 INR/KG) 7,500-8,000 7,500-8,000
Wheat 308 (100 INR/KG) 2,250-2,350 2,250-2,350
Wheat Mill quality (100 INR/KG) 2,100-2,200 2,100-2,200
Wheat Filter (100 INR/KG) 2,650-2,750 2,650-2,750
Wheat Lokwan best (100 INR/KG) 2,550-2,650 2,550-2,650
Wheat Lokwan medium (100 INR/KG) 2,300-2,450 2,300-2,450
Lokwan Hath Binar (100 INR/KG) n.a. n.a.
MP Sharbati Best (100 INR/KG) 3,200-4,000 3,300-4,000
MP Sharbati Medium (100 INR/KG) 2,600-3,100 2,800-3,100
Rice Parmal (100 INR/KG) 2,200-2,300 2,200-2,300
Rice BPT best new (100 INR/KG) 2,900-3,400 2,900-3,400
Rice BPT medium new(100 INR/KG) 2,500-3,000 2,500-3,000
Rice Luchai (100 INR/KG) 2,900-3,000 2,900-3,000
Rice Swarna best new (100 INR/KG) 2,500-2,650 2,500-2,650
Rice Swarna medium new (100 INR/KG)2,200-2,300 2,200-2,300
Rice HMT best new (100 INR/KG) 3,600-4,000 3,600-4,000
Rice HMT medium new (100 INR/KG) 3,200-3,400 3,200-3,400
Rice Shriram best new(100 INR/KG) 4,400-5,000 4,400-5,000
Rice Shriram med new (100 INR/KG) 4,100-4,300 4,100-4,300
Rice Basmati best (100 INR/KG) 8,000-13,500 8,000-13,500
Rice Basmati Medium (100 INR/KG) 5,000-7,200 5,000-7,200
Rice Chinnor best new 100 INR/KG) 5,300-5,700 5,300-5,700
Rice Chinnor medium new(100 INR/KG)5,000-5,200 5,000-5,200
Jowar Gavarani (100 INR/KG) 2,350-2,550 2,350-2,550
Jowar CH-5 (100 INR/KG) 2,050-2,250 2,050-2,250 WEATHER (NAGPUR)
Maximum temp. 31.9 degree Celsius, minimum temp. 23.7 degree Celsius Rainfall :
4.9 mm FORECAST: Generally cloudy sky with a spells of rains or
thunder-showers. Maximum and minimum temperature likely to be around 30 degree
Celsius and 24 degree Celsius respectively. Note: n.a.—not available (For oils,
transport costs are excluded from plant delivery prices, but included in market
prices)
Our Standards:The Thomson Reuters Trust Principles. https://in.reuters.com/article/nagpur-foodgrain/nagpur-foodgrain-prices-open-september-25-2019-idINL3N26G2A9
Ayur-Shri: Indian food and culture at its tandoori cooking best
Ayur-Shri is located on Route 6 (State Road) in Dartmouth across
from the Dartmouth Mall. [LINDA ROY/THE STANDARD-TIMES/SCMG]
Butter Chicken is boneless chicken marinated in butter, tomato
and cream sauce cooked with herbs and spices, served with Himalayan basmati
rice. [LINDA ROY/THE STANDARD-TIMES/SCMG]
Appetizers include a Kabab Platter — Seekh kabab, lamb boti
kabab, chicken tikka kabab and tandoori wings. [LINDA ROY/THE
STANDARD-TIMES/SCMG]
Naan is a traditional type of Indian bread — like a flatbread
that can be plain or stuffed with all kinds of goodies. [LINDA ROY/THE
STANDARD-TIMES/SCMG]
The restaurant is nicely decorated with the music of India
playing softly in the background. [LINDA ROY/THE STANDARD-TIMES/SCMG]
The tri-fold menu means there is lots to choose from: kebabs,
chicken and lamb dishes, seafood and vegetarian plates. [LINDA ROY/THE STANDARD-TIMES/SCMG]
Ayur-Shri is located on Route 6 (State Road) in Dartmouth across
from the Dartmouth Mall. [LINDA ROY/THE STANDARD-TIMES/SCMG]
Butter Chicken is boneless chicken marinated in butter, tomato
and cream sauce cooked with herbs and spices, served with Himalayan basmati
rice. [LINDA ROY/THE STANDARD-TIMES/SCMG]
Appetizers include a Kabab Platter — Seekh kabab, lamb boti
kabab, chicken tikka kabab and tandoori wings. [LINDA ROY/THE
STANDARD-TIMES/SCMG]
Naan is a traditional type of Indian bread — like a flatbread
that can be plain or stuffed with all kinds of goodies. [LINDA ROY/THE
STANDARD-TIMES/SCMG]
The restaurant is nicely decorated with the music of India
playing softly in the background. [LINDA ROY/THE STANDARD-TIMES/SCMG]
The tri-fold menu means there is lots to choose from: kebabs,
chicken and lamb dishes, seafood and vegetarian plates. [LINDA ROY/THE
STANDARD-TIMES/SCMG]
Ayur-Shri is located on Route 6 (State Road) in Dartmouth across
from the Dartmouth Mall. [LINDA ROY/THE STANDARD-TIMES/SCMG]
My
husband, Stephen, and I are your typical American fare diners. We like diner
food, window service seafood, and burger joints.
But every now and then we go
outside our comfort food zone and step into different cuisine cultures.
My first experience with Indian
food was at Waterfire in Providence about 10 years ago. Stephen was already a
fan of Indian food and suggested I give it a try.
I’m kind of finicky.
He knows it.
I guess I always equated Indian
food with being heavy-handed on the curry and way too spicy for me.
I stood corrected.
We’ve been to a couple of Indian
food restaurants since then in Providence and Boston.
Ayur-Shri Fine Indian Cuisine
Indian
Address: 387 State Road (Route 6) Dartmouth
Phone: 508-999-0070
Hours: Tues. - Thurs. 11:30 a.m. to 3 p.m./5 p.m. - 9 p.m.; Fri. and
Sat: 11:30 a.m. to 3 p.m./5 p.m. - 10 p.m.; Sunday 11:30 a.m. to 3 p.m./5 p.m.
- 9 p.m; Closed Mondays
Credit cards: Yes
Handicap accessible: Yes
Reservations: Yes
Online: https://ayurshriindiancuisine.com
Food: 5
Service: 5
Atmosphere: 4.5
Cleanliness: 5
Price/Value: 5
But here we were, at Ayur-Shri on
Route 6 in Dartmouth across from the Dartmouth Mall. With trees on both sides
of the restaurant, it’s easy to miss when caught up in the whizzing traffic
heading east on State Road. The white sign with red lettering comes into view
at the last second and you turn right quickly onto Speaker Street — a teeny
tiny street — to gain access to the parking lot behind Ayur-Shri.
There’s a fair amount of parking
for the small size of the restaurant and a handicap ramp out front.
We arrived at 5 p.m. on a
Thursday, having come from an appointment in Providence so we were a little
earlier than we usually eat dinner.
We were the only ones in the
restaurant which has a small dining room in the front, more seating in the back
and a private and semi-private dining for small groups upstairs.
The music of India played softly
in the background and the decor was nice — not overdone.
Our polite greeter offered us a
booth near the window overlooking the Route 6 traffic. He asked for our drink
orders. I ordered a ginger ale and Stephen stayed with water. Yeah, we are kind
of straight arrow when it comes to drinking.
Ayur-Shri does offer lassies — a
kind of smoothie made with yogurt, Nepali tea made with milk and spices, white
and red wines, domestic and imported beers.
We looked over the appetizers and
decided on the Kabab Platter ($9.95)— Seekh kabab, lamb boti kabab, chicken
tikka kabab and tandoori wings.
Tandoori wings? Okay, time to
jump on the Internet and find out what tandoori means..
Tandoori cooking, we learned, is
an Indian method of cooking over a charcoal fire in a tandoor, a cylindrical
clay oven. Meats cooked in the tandoor are usually marinated in yogurt and
spices and threaded on long skewers that are placed vertically in the oven with
one end resting in the ashes.
The restaurant quickly filled
after our appetizer came and the takeout counter moved steadily along with
customers, and the phone rang with more takeout customers placing their orders.
When the appetizer came, the
skewer had been removed (thank you!) but you could see the small hole left in
the meats where it had been, so it was an authentic kabab all right. I tried
the chicken first and the sumptuous flavor, juicy tenderness, and essence of
being cooked over hot ashes was almost too much for my senses to register. How
do I describe it? You know when you roast a marshmallow over an open flame and
the outside becomes tinged and you get that campfire taste? That’s it!
We tried the wings next. Stephen
accidentally bumped his elbow on the table causing him to drop his wing on the
floor.
“This is one of those times when
a grown man weeps, ” he said. But there was more where that came from as the
appetizer could have easily been a meal with the generous amount of meat on it.
Moving on to our entree order,
each item might sound strange vocabulary-wise, but the menu fully describes
each dinner so you know what you’re getting.
The tri-fold menu means there is
lots to choose from: kebabs, chicken and lamb dishes, seafood and vegetarian
plates.
One item that grabbed my
appetite’s attention was the Butter Chicken ($15.95). Okay, I felt like a
glutton ordering something with butter in the title (flashes of Homer Simpson
putting butter in his coffee came to mind), but it sounded like something I
would like — boneless chicken marinated in butter, tomato and cream sauce
cooked with herbs and spices, served with Himalayan basmati rice. Our server
asked me if I wanted it mild, medium or spicy. I told him mild. That’s me, mild
all the way.
Stephen, who was also feeling
like a chicken dish, opted for the Chicken Mango Curry ($15.95) — boneless
chicken pieces cooked in a rich onion sauce flavored with mangoes, cashew nuts,
raisins, herbs and spices. He chose the medium spice level.
Naan is a traditional type of
Indian bread — like a flatbread that can be plain or stuffed with all kinds of
goodies. Our server recommended the Peshawari Naan ($4.50) — Naan bread stuffed
with cashew nuts, coconut and raisins.
It was served warm and offered a
deliciously sweet taste of coconut. You could say we had dessert first.
When our entrees arrived, the
chicken bathed in its sauces, was presented in a serving bowl and the
accompanying rice in a separate serving bowl. Dish out what you want and how
you want it on your plate and take home what you don’t finish.
The butter chicken absolutely
melted in my mouth. The creamy tomato sauce was not overpowering, and the
flavor was full, rich and a pure delight. The rice was light and fluffy, not
clumpy. I mean how can white rice be impressive, right? But I was totally
impressed with it.
Stephen’s chicken mango curry was
exactly what he was hoping for. Remember, he is a fan of Indian food and
qualified, in my opinion, to compare the tastes from different establishments.
He gave the chicken mango curry
five stars!
We skipped dessert, but there
were some pretty interesting choices: Ras Malai ($4.95) a cheese dumpling
soaked in sweetened, thickened milk delicately flavored with cardamom and
topped with nuts; rice or mango pudding ($4.95), Gulab Jamun ($3.95) a deep
fried dough ball soaked in a sugar syrup flavored with cardamon; mango, coconut
or ginger ice cream ($4.95).
Feeling happily full, we boxed up
the rest of our dinners, kabab platter and Peshawari naan and were brought our
check.
All this mouth-watering food,
before tax and tip, came to $48.10.
The restaurant offers a lunch
buffet from 11:30 a.m. to 3 p.m. They also offer take-out and catering service
for large events.
Our experience at Ayur-Shri was
as wonderful as the food, as the service was impeccable.
We’ll definitely be back and we
promise not to drop any food on the floor.
International Engineering And Machinery Exhibition 2019 Opens
Tomorrow
Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) and
E-commerce Gateway Pakistan are jointly holding a three-day 'International
Engineering and Machinery Exhibition 2019' from tomorrow (Thursday) here at
Lahore Expo Center
LAHORE, (APP - UrduPoint / Pakistan Point News - 25th Sep, 2019 )
:Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) and E-commerce Gateway Pakistan are jointly holding a three-day
'International Engineering and Machinery Exhibition 2019' from tomorrow (Thursday) here at Lahore Expo Center.
Punjab Minister for Industries, Commerce and Information Mian Aslam Iqbal will
inaugurate the exhibition to be participated by over 250 delegates from seven countries: Japan, China Germany, Belarus, Jordan, UAE and Austria.
PCJCCI Senior Vice President Ahmed
Hasnain, Senior Executive Committee Member Daud Ahmed, Secretary General
Salahuddin Hanif and E-Commerce Gateway President Dr Khursheed Nizam held the
final preparatory meeting of the Exhibition held here at PCJCCI premises on
Wednesday.
They were of the unanimous view that the exhibition would lead the way in delivering the most outstanding
opportunities for all participants in different sectors like, Fiber
Laser Cutting Machine, Brick Machinery, Mining Equipment, Road Building Equipment, Glass Fiber, Oil & Gas Refined Products, Chemical & Acrylic
Fibers and Threads, chilled Iron Shot & Grit, Puff Smacks Machine, Rice
Machine, Stationary and mobile Compressor Station, Soya Protein Machine,
tyres of all Vehicles, Truck Mounted Concrete Pump, Electric
Screwdrivers, Power Shearing & Bending Machine, Truck, Buses, Prime Movers,
Block Making Machinery, Concrete Mixer, Diesel / Gas Generators, Drilling Machinery, Fuel Dispenser
,UPS Inverter & Batteries, Power Cable & Switchgear, Construction
Hoist, Gantry crane, CNC Machinery etc. They were encouraged to note that
almost all sector of the world engineering industry would be showcasing their latest technology, equipment and innovative ideas of new
products at the exhibition.
On this occasion, Ahmed Hasnain hoped, "International
Engineering and Machinery Exhibition 2019', would act as a source of inspiration and real
opportunities for business ventures to the local businesses and
industries.
Further, it would also open doors for the up gradation of
local industry by introducing emerging technologies and
to develop businesses based on futuristic approach in order to take maximum
benefits from the CPEC (China-Pakistan Economic Corridor) and BRI
(Belt and Road Initiative)," he added.
While, Dr Khursheed Nizam informed the meeting that over 250
delegates from seven countries: Belarus, China, Germany, Jordan, UAE, Japan and Austria etc are participating the three-day
exhibition. The exhibition, he said, shall showcase over 200 products at 250
stalls. "The event is expected to host more than 40,000 trade
visitors from relevant fields," he hoped.
He mentioned that E-Commerce Gateway and Lahore Chamber Of Commerce & Industry (LCCI) would hold Business to Business (B2B) meetings during the events from September 26 to 28. The exhibition, he asserted,
was being initiated to facilitate effective interaction among several
camaraderie of the machine tool, automation, and cutting tool and user
industries.
PCJCCI Senior EC Member Daud Ahmed said, "This
Business-to-Business Exhibition aims to be a one-stop shop for all the engineering industry products from processing technology to the finished products. Hence,
the event is a wonderful opportunity to see a range of
products to thousands of potential buyers, who would be attending the
exhibition".
Salahuddin Hanif expressed hoped that exhibition would also help
in developing a new international and domestic manufacturers suppliers of
machine tools and automation products / services, creating a unique platform to
leverage the rapidly growing Pakistan's market.
Ambassador Extraordinary and Plenipotentiary of Belarus to Pakistan Mr. Andrei Ermolovich, Ministry of Commerce Additional Secretary Javed Akber,
TDAP Lahore Director General Ms. Nudrat Hussain Khan
and NLC DG would attend the exhibition as guests of honour.
International engineering and machinery
exhibition opens Today
SEPTEMBER
26, 2019
LAHORE: Pakistan China Joint Chamber of Commerce and Industry (PCJCCI)
and E-commerce Gateway Pakistan are jointly holding a three-day
‘International Engineering and Machinery Exhibition 2019’ from
Thursday here at Lahore Expo Center.
Punjab Minister for Industries, Commerce and
Information Mian Aslam Iqbal will inaugurate the exhibition to be participated
by over 250 delegates from seven
countries: Japan, China Germany, Belarus, Jordan, UAE and Austria.
PCJCCI Senior Vice President Ahmed Hasnain, Senior Executive
Committee Member Daud Ahmed, Secretary General Salahuddin Hanif and E-Commerce
Gateway President Dr Khursheed Nizam held the final preparatory meeting of the
Exhibition held here at PCJCCI premises on Wednesday.
They were of the unanimous view that the exhibition
would lead the way in delivering the most outstanding opportunities
for all participants in different sectors like, Fiber Laser Cutting
Machine, Brick Machinery, Mining Equipment, Road Building Equipment,
Glass Fiber, Oil & Gas Refined Products, Chemical &
Acrylic Fibers and Threads, chilled Iron Shot & Grit, Puff Smacks Machine,
Rice Machine, Stationary and mobile Compressor Station, Soya Protein
Machine, tyres of all Vehicles, Truck Mounted Concrete Pump, Electric
Screwdrivers, Power Shearing & Bending Machine, Truck, Buses, Prime Movers,
Block Making Machinery, Concrete Mixer, Diesel / Gas Generators,
Drilling Machinery, Fuel Dispenser ,UPS Inverter & Batteries, Power Cable
& Switchgear, Construction Hoist, Gantry crane, CNC Machinery etc. They
were encouraged to note that almost all sector of
the world engineering industry would be showcasing their
latest technology, equipment and innovative ideas of new products at the
exhibition.
On this occasion, Ahmed Hasnain hoped, “International
Engineering and Machinery Exhibition 2019′, would act as a source of
inspiration and real opportunities for business ventures to the local
businesses and industries.
Further, it would also open doors for the up gradation of
local industry by introducing emerging technologies and to develop
businesses based on futuristic approach in order to take maximum
benefits from the CPEC (China-Pakistan Economic Corridor)
and BRI (Belt and Road Initiative),” he added.
While, Dr Khursheed Nizam informed the meeting that over 250
delegates from seven
countries: Belarus, China, Germany, Jordan, UAE, Japan and Austria etc
are participating the three-day exhibition. The exhibition, he said, shall
showcase over 200 products at 250 stalls. “The event is expected to
host more than 40,000 trade visitors from relevant fields,” he hoped.
Agri engineers back rice tariff law
AGRI ENGINEERS BACK RICE TARIFF LAW
The Philippine Society of
Agricultural and Biosystems Engineers (Psabe) has expressed strong support for
the government’s implementation of the Rice Tariffication Law, citing its huge
potential to boost the local rice industry and make it as competitive as its
counterparts in Southeast Asia.
In a statement on Wednesday,
Psabe President Dennis Tactac said the new law, through the Rice
Competitiveness Enhancement Program (Rcep), could pave the way for the further
development on the country’s rice sector modernization.
At present, the country’s cost of
producing of palay (unmilled rice) is at P12.72 per kilo, significantly higher
than those of Thailand and Vietnam at P8.86 per kilo and P6.22 per kilo,
respectively.
The Philippines, he noted, has
the pool of managerial experts and professionals who can push the modernization
of the country’s rice industry like licensed agricultural and biosystems
engineers.
“The manpower of Psabe, which is
mostly made up of professional and licensed agricultural and biosystems
engineers, and pre-professional ABEs (agricultural and biosystems engineers)
aspiring to be such, are ready to be part of the ‘collective action’ to make
Rcep succeed in its objective of making the Philippine rice industry
competitive in Asean countries, and to increase the production yield and
eventually earnings of rice farmers,” Tactac said.
He also stressed that Psabe fully
supports the leadership of Agriculture Secretary William Dar, believing he has
the expertise and administrative competence to mobilize the Department of
Agriculture and the institutions attached to it to successfully implement Rcep
in the next six years.
“Psabe as a whole is also ready
to be a partner in the implementa tion of Rcep such as the source of
top-caliber resource persons during the conduct of training and seminars, serve
as test engineers and inspectors/evaluators of the agricultural machinery and
equipment and among others,” Tactac added.
Instead of focusing on the
negative aspects of Republic Act 11203, he pointed out that the law should be
appreciated for putting in place safety nets for the rice industry and farmers,
in the form of a mechanism that automatically allocates tariff collections from
imported rice into programs directed to local farmers.
EIREENE JAIREE GOMEZ
EIREENE JAIREE GOMEZ
Farmers urged to Adopt Novel Techniques, Boost Rice Production
September 26,
LAKHIMPUR: An awareness meeting on strengthening seed system and production
technology of rice was organized by Krishi Vigyan Kendra (KVK), Lakhimpur on
Wednesday under the aegis of Assam Agribusiness and Rural Transformation
Project (APART) in collaboration with International Rice Research Institute
(IRRI).
The meeting was held among 40
farmers of different villages and blocks under Lakhimpur district. The main
objective of the meeting was to make the farmers aware about different
stress-tolerant rice varieties and their characteristics like Ranjit Sub-1,
Bahadur Sub-1, Swarna Sub-1 and Bina dhan 11. Effort was made to create
awareness among the farmers regarding use of modern technologies and
machineries for scientific production of rice and their advantages. In
connection with the programme, a talk on quality seed production techniques of
rice and importance of strengthening seed system for better production was also
given by Dr. Rahul Priyadarshi, scientist from IRRI.
Lakhi Kanta Nath, Subject Matter
Specialist (Agronomy) of Krishi Vigyan Kendra, Lakhimpur, welcomed the farmers
during the meeting and explained the objectives of the programme while
delivering the inaugural speech. He also discussed about the different methods
and techniques of rice cultivation and their advantages as a whole. Senior
Scientist and Head of Krishi Vigyan Kendra, Lakhimpur, Dr. Bhabesh Chandra Deka
delivered his speech on importance of production of quality seeds for improved
rice cultivation and he encouraged the farmers to adopt different techniques of
rice production like preparation of MAT nursery and thereby transplanting of
seedlings by using mechanical transplanter. He also made farmers aware about
direct seeded rice cultivation using machineries.
Amira Nature Foods: A Corporate Reset
You Won't Want To Miss
Sep.
25, 2019 2:45 PM ET
Deep Value, research analyst, special situations
Summary
Reputable Indian research
organizations have changed their outlook on the basmati rice Industry
explaining FY2019 and FY2020 will be the highest ever export years for basmati
rice.
Delisting warnings have created a
65% discount to ANFI's peer group and has motivated ANFI to redesign their
existing business model taking advantage of a strong market.
New management, a new capital
structure, and a redesigned business strategy bring ANFI's 1-year price target
to 1$ (+67% upside).
Source: Amira Nature Foods Ltd. | ANFI Website
Introduction - ANFI's Upside Outlook
Company Overview - ANFI, Indian Exporter Without the Indian
Exposure
Amira Nature Foods Ltd. (ANFI) is a family-owned and operated
global provider of packaged Indian specialty rice founded in 1915 headquartered
in the UAE. They have 135 full-time employees and their sales cover 40+
countries. A majority of their revenue is derived from basmati rice sales, a
specialty premium long-grain rice sourced solely in areas of India,
particularly the North with 2-3x premiums to standard rice. They provide their
products under the Amira brand and white-label options, customer branded. They
are currently undergoing a massive restructuring.
Why Go Long ANFI & Why Go Long Basmati Rice Now
Basmati rice has not been a popular
segment to follow and it's for good reason. Historically, 2016-2017 presented
the industry with double-digit losses. ANFI did not fare much better. With
short-squeezes and allegations of manipulation in 2015 and rice demand
volatility in the past few years, it may seem to be an odd time. But, when you
research deeper into ANFI, you will notice massive changes that seem likely to
unlock the return potential of this vastly discounted company.
Basmati rice exports are reaching
record levels this year, and the industry is poised for its best year yet.
Management has been radically altered within ANFI, and the 2019 strategy is
moving towards a high-margin distribution model enabled by targeting high-value
western markets with contracts already being confirmed in the past few months.
Seasonality may make the next few
months volatile, and with the SEC presenting a delisting risk if ANFI does not
reach >1$ by Jan. 2020, it is a fearful time for ANFI investors. But, after
ignoring popular sentiment and analyzing the fundamentals, ANFI is a company
poised for far greater stability going forward and with it record-level stock returns
once the market understands and re-values the risk. I project this will largely
take place in April 2020, based on FYE filings [Indian calendar].
Macroeconomics - FY2019 & FY2020, "basmati rice industry
expected to achieve highest ever exports"
With ANFI not posting financials
for the recent FYE and/or audited financial updates, it can be a daunting task
to understand their market potential. But, by analyzing the most recent export
numbers for the country and their target markets, we can relatively understand
the growth/demand prospects for basmati rice, their product. The interesting
aspect of ANFI's upcoming year's end-markets is how they are strategically
placed. When analyzing the export numbers for the basmati rice segment [HS
Code: 10063020], you will notice several factors that should affect the
relative value of ANFI.
The first factor is the
price/demand for basmati rice. To better understand the price and demand for
this non-traditional Indian commodity, we can utilize basmati export numbers from
India. To confirm, we have a connection, we can see below that ANFI's stock
price has fallen and risen synchronously to the export numbers of basmati rice.
Graphic: Self Created | Data: Apeda, Seeking Alpha
Export numbers already factor in
the price/demand considerations for the commodity [after considering Qty output
and Rs. Crore numbers]. With room for error, this can provide insight into the
revenue potential for ANFI.
We notice globally that basmati
rice exports are growing, but ANFI has targeted specific export markets [EMEA
& North America]. Breaking down the export numbers to these target markets,
we can see that the ANFI price collapse between 2014 and 2017 coincided with
the basmati rice exports' average y/y contraction rate of -10% [Rs. Crore].
Looking forward, we see that since
then, the demand for basmati rice in EMEA & North America has picked up
substantially with India's FY2018-2019 posting Qty y/y growth of 9%, Rs Crore
y/y growth of 23%, and US$ y/y growth of 14%. This shows not only quantity
growth but pricing growth also as well. India's FY2019-2020 [April, May] export
numbers of basmati rice have indicated strong demand growth within ANFI's newly
targeted segments:
India's Basmati Rice Export Numbers
for EMEA & North America Covering April 19'-May 19'
|
Qty
in MT
|
Rs.
Crore
|
US$
Mill
|
|
820018.79
|
6150.42
|
883.66
|
|
+16%
y/y growth
|
+19%
y/y growth
|
+14%
y/y growth
|
Source: DGCIS
There are risk factors to consider
including realizing this growth and avoiding sharp declines in price and export
volume related to US-Iranian sanctions, but, for now, the revenue potential for
ANFI's newly targeted segments is clear, and the demand, in reality, does
exist.
Operations Analysis - Why ANFI's New Management Is Key
Intro:
ANFI has historically
underperformed due to a global decline in prices/demand for basmati rice in
2016/2017. However, now the company is undergoing massive restructuring. The
aim is to focus on international sales with their business line primarily
focused on just distribution which enables low-cost high margin results. This
is evident through the company's sale of Amira-India/Africa/SE Asia and their
subsequent refocus towards EMEA+UK and the USA.
Company Expectations for FYE 2019
Operating Performance [as of June 2019]:
·
$200M in Revenue
·
$16M in EBITDA
·
$6M in NI
·
$23M in Net Debt
Revenues:
As presented above, this is a
complex area to forecast given their structural overhaul, but we start with
assuming they can continue the progress made thus far on their $200M revenue
guidance [37.5% progress]. This is far below FYE2018's revenue of $414M, but
per my valuation checks, the market has already discounted the stock -77% below
the $200M revenue guidance. The published progress towards the revenue goal as
of July 18, 2019, has been $75M [37.5% of the goal] within 29% of the time
until FYE2019. This seems like good progress, but the rest of the year
typically shows lower sales due to the seasonality of basmati rice based on
several years of export numbers. I am still optimistic that this owner-operator
company can make its goal, but even if they end the year at their current
revenue levels, based on a peer PE multiple of 17.8x and a 2010-2017 avg NI
margin of 4%, their stock should be priced at $1.31. This is astonishing 54%
discount.
Now, their new CFO and their new
strategy, I believe, warrants an optimistic outlook on their current revenue
progress. The market seems to disagree, but time will tell.
Margins/Costs:
Complexity attributable to recent
accounting changes forces us to look into historical margins to gain an
understanding of post-crisis potential operational profitability levels and the
CF statement to better understand the viability of the company at present. A
company needs cash to operate, but, for some time, with asset sales and debt, a
company can survive with cash outflows. I would never advocate investing in a
non-CF-based company, but, at the present valuations and operational progress,
there is a great upside once stability returns in April 2020. I will now
breakdown some key operational factors to simplify ANFI for the reader.
Margins are key to the development
and profitability of the business [and to valuations]. There are a few aspects
that I am particularly fond of when analyzing this business. The first is the
fact that they are de-consolidating ownership of Amira India. If we consider
the updates breaking out Amira-India in the investor presentation as of June 2019, we
see that Amira-India will take out with it 91% of the ST-Debt equaling a
reduction in BS debt of a massive $188.8M leaving only $18M in ST-Debt [very
manageable]. This should translate into a large reduction of -$25M to Amira's
presented interest expenses and push towards profitability by 2020.
Due to the complexity of ANFI's
financial situation with a massive corporate overhaul, we must understand from
a general operational perspective. In my analysis, during this period of
operational turmoil, excessive non-traditional costs were realized stemming
mainly from "other expenses" [see 6K | March 2019].
Graphic: Self Created | Data: Company Financials, Seeking Alpha
Additionally, but unconfirmable,
ANFI should benefit from the changes regarding inventory costs. According to
the ICRA, an Indian credit rating agency, the
majority of operating costs for a rice company are concentrated in the cost of
raw materials; one of the two major costs of raw materials are related to the
cost incurred when holding inventory for long periods when aging the rice. When
looking at the changes being made on ANFI's operations side, we see that
AMIRA-India, the current subsidiary being unconsolidated based on ANFI selling
their ownership, is taking 91% of the inventory and its subsequent management
costs. This should translate into a reasonably valuable decrease in operating
costs, thereby improving margins and earnings while providing a lift to
valuation prices. Overall, the new business model and the connecting
deconsolidation of Amira-India should improve the operating capability and
results of ANFI going forward.
Balance Sheet
In March '19, ANFI raised LT debt of EUR25M under ANFI's
European subsidiary with the proceeds going to financing its international
business lines. This should establish broader sales enabling greater progress
to ANFI's revenue guidance of $200M for FYE2019.
Noting part of the left-over debt
after deconsolidation of the ANFI-India subsidiary is denominated in rupees,
this leaves ANFI with a stronger BS than before, per its foreigner-currency denominated
revenues.
In the end, this would leave Amira
with a manageable final debt amounting to 52.4M [1/4 of FYE18's Total Debt].
This number does include debt most recently raised by their European
subsidiary.
Regarding restrictions to maintain
safe operations, there are covenants against issuing dividends outside of
profit and debt repayment. This is good for reinvestment and for strengthening
the current financial standing of the company. This dislocates any
self-interest by management to take home undue pay.
Overall, the balance sheet seems
manageable going forward and a decrease in debt levels should increase the
probability of continued stability.
Strategy and Management - Int. Expansion, Western Leadership, And
A New Capital Structure
Regarding ANFI's new strategy, it
breaks down into 5 core pillars to which I will elaborate on the first 3
pillars.
Core Pillars:
1. Focus on International Expansion
| Restructuring | Deconsolidation
2. Westernize Leadership Team |
Corporate, Legal and Accounting Functions
3. Improve Capital Structure |
Attract New Financing Sources
4. Focus on Third-Party Branded
Products
5. Opportunistic Acquisitions
Regarding pillar 1, the new
strategy for expansion moves away from traditional low-income based purchasers
and into more premium markets [sale of Amira-India and its subsidiaries
covering Africa and SE Asia]. The new markets focused on are the USA, Germany,
UAE, and the UK. Regarding pillar 2, we have seen the hiring of several key
individuals and US-based advisors.
The key individual list is as
follows:
·
Thomas Dennhardt
[formerly Lidl] to CEO of German Subsidiary [to expand EU sales]
·
Hervé Larren [formerly
LVMH] to Board [to improve branding/sales from his experience w/ International
Brands]
·
Brian M. Speck [from
Brio] as CFO [to westernize financial and accounting practices]
One large factor to note is that
the previous CFO has been replaced and publication of financials should
certainly from now on be timely and be free of error. This should minimize any
future claims of manipulation and decrease investment risk.
The advisor list is as follows:
·
Finance/Accounting -
Brio Financial Group [CF focused]
·
Legal Counsel - Graubard
Miller [Worrisome OTC focus] :
·
Corporate Advisory -
Petrina Advisors, Inc. [Global Reorientation & Capital Raising]
Regarding pillar 3, we have already
seen ANFI raise LT debt of EUR25M under ANFI's European subsidiary with the
proceeds going to financing its international business lines. This was done in
March '19, and we can expect the BS to handle more debt which can enable
greater and more consistent sales moving forward.
Price Effect - How Publicized Sales Are The ST Catalysts
A major catalyst you can expect
between now and FYE2019 in April 2020 [Indian Fiscal Calendar] that I would
like to point out is the trend of announcing major contracts. The last sales
update we saw was on July 18, 2019; however, any subsequent updates act as a
catalyst pushing the price towards the key $1.00 mark required by the SEC this
year. We saw this through two announcements and their results:
+8% increase for $9M in sales
announced (EMEA)
+9.4% for $6M in sales announced
(EMEA)
Valuation - Capital Structure Changes And FY2019's Expectations
There are many unknowns to be
certain regarding valuation, but, for your understanding of the discount
existing and the potential, we can take some conservative assumptions and
present an estimation:
·
Various PE multiples
ranging from 8.9x-20x
·
NI margin of 4%
[2010-2017 Avg.]
·
FYE 2019 Revenue of
$100M [50% of FYE19 Co. Guidance, +25M revenue from current]
Table: Self Created | Data: Company Financials & Updates, Seeking Alpha
After calculating several potential
price points, the most basic is the company's estimation of a peer group
multiple at 17.8x with my conservative twist on EPS discounted from a NI of $6M
[co. guidance] to my $4M. This brings us to a FYE19 price of $1.75. This is a
massive +192% upside. Now, if we assume a 50% market discount on the peer group
PE Multiple, reducing it to 8.9x, we still get a +46% upside to a price point
of $0.87. Another hypothetical variant is modeling under a relatively stable
period, like 2016. If we do this, we get a price of $1 which is +67% upside,
and in my view, the most realistic but still conservative valuation.
Regardless, it's clear that we can expect sizeable returns, contingent on ANFI
remaining listed.
RYN's current one-year price target is $1.
Risks - Hired OTC-Known Advisors, Potential Missed Revenue Target,
Delisting
1.
SEC 1$ delisting restriction may
lead to a substantial loss from forced delisting. The company has 6 months to
increase its 30-day average stock price to above $1.00. The 6 months started June
26, 2019, and ends Jan 26, 2020, with checks set for December 26, 2019. There
is the possibility of extension. In addition to the above facts, studies on this topic show a 21.7% likelihood
of delisting, contingent on the thesis that 21.7% of firms studied during the
year following their first violation of accounting standards were delisted and
the rest returning to good standing. Additionally, several studies indicated that the financial
matters were less important to the SEC than lawsuits engaged by shareholders.
2.
Previous CFO's severance stock
package was marked for September 8, 2019, as the end of
6-month restriction on sales of 528,243 ordinary shares. If on September 8,
2019, the value was different than $559,937 [it was], the shares were to be
returned by Mr. Sethi for the Company to issue additional cash or additional
shares to Mr. Sethi, in each case in an amount equal to the difference between
the value of the shares on Sep. 8th and $559,937. This allows him to now sell
his shares which may put strong downward pressure on the stock.
3.
Inventory funding requirements of
the industry have been increasing thereby accentuating price risk. This results in higher costs for credit
lines to buy products to continue operations affecting the likelihood of ANFI
meeting its revenue guidance.
4.
Paddy price corrections
can result in lower sales.
Other Risks are outlined in the FYE financials.
Conclusion - The Beginning To A New Story
In conclusion, we see here a
company that is undergoing major changes. These include new management, new
strategy, new distribution channels, and a new capital structure. Some will be
cautious over the future of a basmati rice producer riddled with historical
turmoil, but for the research-savvy investor, this seems to be a solid
opportunity to get in at ground-level valuations.
WFP Senegal Country Brief, June 2019
REPORT
In Numbers
22,520 mt of food assistance
distributed
US$0 m cash based transfers made
US$ 5.5 m six months (July 2019
-December 2019) net funding requirements.
81,000 people assisted in June
2019
Operational Updates
• WFP elaborated an operational
plan for targeted food assistance during the lean season in support of the
National Response Plan and in complement of the Government’s social safety
nets. Distributions in the form of digitalized cash transfers will start in
July for three months targeting 31,000 people with currently available
resources.
• WFP participated in the
national consultative group in support of the Government’s efforts to implement
the roadmap for the school feeding transition plan. The roadmap foresees an
update of the Senegal school feeding policy document, the establishment of a
multisectoral school feeding group, the development of a law on school feeding
and the co-hosting of a national school feeding forum.
• WFP prepared the terms of
reference for a study on the acceptability of fortified rice and on
micronutrient retention in rice with a local research institute. The results of
these studies will help inform the decisionmaking process of the Senegal
Committee for Food Fortification with Micronutrients, Comité Sénégalais Pour la
Fortification des Aliments en Micronutriments (COSFAM), on rice fortification
in Senegal.
WFP signed an agreement with its
national counterpart on nutrition, Cellule pour la Lutte Contre la Malnutrition
(CLM) for the treatment of moderate acute malnutrition in 1,411 children aged 6
to 59 months in Diourbel, Mbacké, Linguère departments and to ensure continuous
care with UNICEF's treatment of severe acute malnutrition activities.
• WFP Senegal attended a training
on Smallholder Agricultural Market Support (SAMS) from 24-28 June organized by
the West Africa Regional Office and HQ. In the future, these learnings will be
used in designing programmes with a value chain orientation that better integrate
the different components of WFP’s prosmallholder portfolio.
• Following its participation in
a WFP Innovation Accelerator Bootcamp, WFP worked on developing a SPRINT
application with the social business innovator team “MyAgro”.
Venezuela to fund Sh400m rice institute in Busia
WEDNESDAY,
SEPTEMBER 25, 2019 22:00
The
project to will be funded by the Venezuela government. FILE PHOTO | NMG
A Sh400 million rice research
institute is to be set up in Budalang'i, Busia County, to boost the production
and marketing of the crop in western Kenya.
The project to will be funded by
the Venezuela government.
Head of Rice Promotion Programme
in the Ministry of Agriculture Jane Ndung’u said Busia would be the only county
in Kenya to benefit from the funding.
“The institute will develop new
breeding products for lowland rice ecologies and also come up with quality
grain that is tolerance to major biotic stresses,” said Ms Ndung’u.
“Rice is a strategic food crop
that the national government has included under the Food Security pillar of the
Big Four Agenda. We want Busia County to add value and boost uptake of their
rice in the market.”
ALSO READ
Speaking during a meeting with
officials from the Department of Agriculture, led by county executive Moses
Osia, Ms Ndung'u said the money for the project is with the Treasury awaiting
disbursement.
The head of rice promotion also
assessed various rice groups that will benefit from equipment for mechanised
rice production during her two-day visit to the county.
Madagascar is the other country
in Africa to receive the funds. Madagascar has already completed its project,
while Kenya's is still at design stage. Ms Ndung'u said the Ministry of Public
Works is expected to hand over the designs to the contractor once complete.
China National Rice Research
Institute had previously partnered with Bunyala Irrigation Scheme in effort to
study and enhance production of the crop.
Dr Osia thanked the national
government for picking Busia for the project, saying it will help create job
opportunities and identify the best rice varieties for specific regions in the
county.
Robert Musanya, the chairperson
of Bunyala Rice Farmers Cooperative Society, said that the proposed institute
will help them maximise on production through value addition.
Mr Musanya said lack of a modern
processing facility had forced farmers to sell their produce at low prices for
fear of incurring losses from poor storage.
“Currently we are selling
unprocessed rice to Kisumu and Uganda markets at lowly price of Sh3,000 per
bag. Processed rice fetches between Sh4,500 and Sh5,000 depending on the
variety,” he said.
The irrigation scheme has two
rice farmers' societies, namely Bunyala and Magombe Multipurpose Cooperative.
They have a combined capacity to
produce over 5,000 90kg bags of Pishori Basmati rice and a local variety
commonly known as Sindano every season. The farmers are expecting more than
9,000 bags from the over 1,500 acres.
Early this year Deputy President
William Ruto said the government would set up a milling plant in the area as
part of the Sh 10billion Lower Nzoia irrigation scheme.
Profile: Yuan Longping, father of hybrid rice
Source:
Xinhua| 2019-09-25 19:42:46|Editor: Yurou
CHANGSHA, Sept. 25 (Xinhua) -- Yuan Longping, a globally
renowned agronomist known for developing the first hybrid rice strains, just
celebrated his 90th birthday in accordance with the traditional Chinese age
counting system.
Yuan, born in September 1930, has helped China work a great
wonder -- feeding nearly one-fifth of the world's population with less than 9
percent of the world's total land.
Getting enough to eat, however, used to be a serious problem in
China. "I saw heartbreaking scenes of people starving to death on the road
before 1949," recalled Yuan.
It was that year when Yuan applied for Southwest Agricultural
College and began his special connection with rice -- a staple food of the
Chinese people that would become the focus of his lifelong research career.
A discovery of a peculiar wild rice species by Yuan in the
southern island of Hainan in 1970 became the prelude of China's decades of
hybrid rice research. Three years later, he cultivated the world's first
high-yielding hybrid rice strain with three lines, namely, the male sterile,
maintainer and restorer.
Hybrid rice has since been grown across the country and farmers
reaped incredible output after switching to Yuan's hybrid varieties.
Hybrid rice recorded an annual yield about 20 percent higher
than that of conventional rice strains-- meaning it could feed an extra 70
million people a year. Now its accumulated planting area in China has exceeded
16 million hectares, with the total grain output 658 billion kg in 2018, a
nearly fivefold increase from that of 1949.
"China has a large population but little arable land, the
only way for us to guarantee our national food security is to increase crop
yield," he said.
In 1986, Yuan brought up the hybrid rice breeding strategy --
from the three-line hybrid rice strain to a two-line, and later on to a
one-line variety. The two-line technique means that the hybrid rice seeds are
cultivated with the male sterile and restorer lines only, which will call for
less complicated techniques, save labor and cut cost. Compared with its
three-line predecessor, the two-line hybrid rice strain has higher yields and
makes use of manpower and material resources more efficient, according to rice
experts.
In 1995, local farmers planted 20,000 hectares of two-line
hybrid rice in 55 counties on a trial base. The per hectare output reached
8,250 kg, 1,125 kg more than that of the three-line strain. The success
established China's leading position in the global field of hybrid rice
research.
In 1996, the Ministry of Agriculture formally established a
super rice breeding program. Four years later, the first phase of the 10.5
tonnes per hectare target was achieved. The record was shattered three more
times with jumps to 12 tonnes in 2004, 13.5 tonnes in 2011 and 15 tonnes in
2014.
Now the target of 18 tonnes per hectare is about to be achieved,
according to Yuan.
FROM CHINA TO THE WORLD
While food shortages have long been consigned to China's past,
Yuan, the famine fighter, has a much bigger ambition -- to save the world from
starvation.
Since the 1980s, Yuan's team has offered training courses in
dozens of countries in Africa, the Americas and Asia -- providing a robust food
source in areas with a high risk of famine.
With assistance from Yuan's team, a hybrid crop variety produced
a harvest of 10.8 tonnes per hectare in Madagascar this year, far exceeding the
yield of local rice. And the average yield of the hybrid rice planted in Kenya
is four to five times greater than conventional varieties.
Globally, more than 820 million people were hungry in 2018,
according to a UN report. And if hybrid rice is planted in half of the world's
147 million hectares of paddy fields, the additional yield alone can feed
another 500 million people, said Yuan.
Yuan's team has continued to make new breakthroughs. Yuan's team
was invited to make a trial plantation of the saline-alkaline tolerant rice in
experimental fields in Dubai in January 2018, achieving huge success. China's
export of saline-alkaline tolerant rice and the technique has been eyed as a
way to combat the world's food insecurity.
FROM HAVING ENOUGH TO EAT TO EATING WELL
Now the focus of Yuan's hybrid rice project has changed from
increasing output to green and sustainable development. In September 2017, a
strain of low-cadmium indica rice developed by Yuan's team and the Hunan
provincial academy of agricultural sciences was able to reduce the average
amount of cadmium in rice by more than 90 percent in areas suffering from heavy
metal pollution.
"This is a huge breakthrough, and the technology is simple
and inexpensive to apply," said Yuan. He is currently working on the third
generation of hybrid rice, and striving to gradually replace the three-line and
two-line hybrid rice in the next few years.
"Our country has entered a decisive period to complete
building of a moderately prosperous society in all respects since the 19th
National Congress of the Communist Party of China. To me, that means we are
moving from 'having enough to eat' to 'eating well,'" he said.
"I am now in my 90s and hope that I can live to be 100
years old," he said. "I'm confident in the future of my country, and
I want to make more contributions to its prosperity."
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Basmati exports growth to slow down in FY20: ICRA
On the supply side,
basmati paddy prices continued to firm up for three years in a row.
By
, ET Bureau|
Sep 26,
2019, 02.42 PM IST
0Comments
Agencies
Indian basmati exports are
facing headwinds in the current fiscal, after two years of strong growth, said
an ICRA
note released on Thursday. The ICRA note says that with uncertainty over level
of exports to Iran
as well as likely moderation in average export realisations, basmati rice exports are
expected to be muted in FY2020. This is after basmati rice exports in FY2019
were at an all-time high at Rs. 32,806 crore, primarily led by aggressive
buying by Iran, that enabled healthy growth in volumes besides favourable
pricing.
Elaborating further, Mr. Deepak Jotwani, Assistant Vice President, ICRA, says, “There is increased uncertainty over level of imports by Iran going forward in light of ongoing trade sanctions; and tighter pesticide residue norms continuing to weigh on exports to European Union (EU). Also, some changes in import policies proposed by Saudi Arabia are likely to come into effect by the end of the year. While EU is a comparatively smaller market, Iran and Saudi Arabia are leading destinations, accounting for 50-55 per cent of Basmati rice exports from India.”
During the current fiscal, Basmati rice exports realisations stood at Rs. 75,589/MT for 4M FY2020, only 2 per cent higher than the previous fiscal. This is considerably lower than the increase in export realisations by around 23 per cent in FY2018 and 12 per cent in FY2019. Also, on a comparative basis, Basmati rice exports in 4M FY2020 stood at Rs. 10,847 crore, 6 per cent lower than Rs. 11,575 crore in the corresponding period in the previous fiscal, largely attributable to lower import volumes by Iran, the leading importer of Basmati rice from India. Adds Mr. Jotwani, “This can be partly explained by aggressive pre-emptive buying by Iran in the first half of FY2019, due to anticipated impact on its global trade with re-imposition of US trade sanctions later in that year.”
According to ICRA, a more long-term concern is that the reserves (receivables against crude oil exports to India done earlier) being utilised by Iran for paying for its Basmati rice imports, are declining with crude oil imports by India from Iran discontinued since June 2019. This enhances the uncertainty on future trade with Iran, considering the ongoing trade sanctions. While some comfort can be drawn from the fact that basmati rice forms a part of the staple diet of Iran and Saudi Arabia; however, any considerable decline in level of imports by these countries can have a depressing impact on basmati rice prices and exert pressure on the industry participants.
On the supply side, basmati paddy prices continued to firm up for three years in a row. However, given the better earnings garnered by farmers in the last season, Basmati paddy production is estimated to be higher in the current fiscal. This coupled with delay in resumption/lower level of imports by Iran, if any, is likely to keep paddy prices under check in the current year’s procurement season. This will have a bearing on Basmati rice prices in the next calendar year as well as overall Basmati rice exports in FY2021.
Elaborating further, Mr. Deepak Jotwani, Assistant Vice President, ICRA, says, “There is increased uncertainty over level of imports by Iran going forward in light of ongoing trade sanctions; and tighter pesticide residue norms continuing to weigh on exports to European Union (EU). Also, some changes in import policies proposed by Saudi Arabia are likely to come into effect by the end of the year. While EU is a comparatively smaller market, Iran and Saudi Arabia are leading destinations, accounting for 50-55 per cent of Basmati rice exports from India.”
During the current fiscal, Basmati rice exports realisations stood at Rs. 75,589/MT for 4M FY2020, only 2 per cent higher than the previous fiscal. This is considerably lower than the increase in export realisations by around 23 per cent in FY2018 and 12 per cent in FY2019. Also, on a comparative basis, Basmati rice exports in 4M FY2020 stood at Rs. 10,847 crore, 6 per cent lower than Rs. 11,575 crore in the corresponding period in the previous fiscal, largely attributable to lower import volumes by Iran, the leading importer of Basmati rice from India. Adds Mr. Jotwani, “This can be partly explained by aggressive pre-emptive buying by Iran in the first half of FY2019, due to anticipated impact on its global trade with re-imposition of US trade sanctions later in that year.”
According to ICRA, a more long-term concern is that the reserves (receivables against crude oil exports to India done earlier) being utilised by Iran for paying for its Basmati rice imports, are declining with crude oil imports by India from Iran discontinued since June 2019. This enhances the uncertainty on future trade with Iran, considering the ongoing trade sanctions. While some comfort can be drawn from the fact that basmati rice forms a part of the staple diet of Iran and Saudi Arabia; however, any considerable decline in level of imports by these countries can have a depressing impact on basmati rice prices and exert pressure on the industry participants.
On the supply side, basmati paddy prices continued to firm up for three years in a row. However, given the better earnings garnered by farmers in the last season, Basmati paddy production is estimated to be higher in the current fiscal. This coupled with delay in resumption/lower level of imports by Iran, if any, is likely to keep paddy prices under check in the current year’s procurement season. This will have a bearing on Basmati rice prices in the next calendar year as well as overall Basmati rice exports in FY2021.
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