Asian palm
oil, rice yet to price in severe El Nino: Russell
Thu Jun 18, 2015 6:02am EDT
LAUNCESTON, AUSTRALIA, JUNE 18 | BY CLYDE
RUSSELL
Workers
stand near palm oil fruits inside a palm oil factory in Sepang, outside Kuala
Lumpur, February 18, 2014.
REUTERS/SAMSUL SAID
-
The warnings of a strong El Nino weather phenomenon have been ramped up in
recent weeks, but some Asian agricultural prices have yet to fully price in the
looming drought.The meteorological agencies of the United States, Japan and
Australia have all upped their forecasts for the strength and duration of the
El Nino effect, which is caused by rising sea-surface temperatures in the
Pacific Ocean.El Nino brings drier conditions to Southeast Asia, India and
Australia, and a severe event can hurt output of agricultural commodities, such
as palm oil, rice, rubber, wheat and cotton.In contrast, El Nino, the Spanish
word for small boy, brings wetter weather to the Americas and sometimes to
North Asia.
There
is an 85 percent likelihood that the El Nino weather pattern that's currently
developing will likely last into 2016, the Climate Prediction Center, an agency
of the U.S. National Weather Service, said on June 11.Previously the agency had
said there was an 80 percent chance that El Nino would last through 2015.The
Japan Meteorological Agency said on June 10 that the El Nino was strengthening
and was likely to reach intensity levels seen in 2009, which caused widespread
damage to crops in Asia and Australia and caused food prices to
surge.Australia's Bureau of Meteorology said on June 9 that Pacific ocean
temperatures are continuing to warm, and that El Nino conditions are already at
"moderate" levels and expected to persist through 2015.
So
far, the reaction in several Asian commodity markets to the consensus of
forecasters that the El Nino risks are rising has been muted.It's true that
prices of many commodities are at, or near, cyclical lows and past experience
has shown that they only tend to move higher once it's virtually certain that
output will be cut by a weather event.The experience of 2012 and 2014, when an
El Nino was forecast but didn't materialize in any significant way, has also
likely made traders and investors somewhat more cautious.But it's worth bearing
in mind that palm oil prices leapt 57 percent in 2009, partly due to the El
Nino that year.Malaysian palm oil futures have been remarkably stable so far
this year, up about 1 percent from the 2,266 ringgit per tonne at the end of
last year. The contract is, however, down around 5 percent in U.S. dollar terms
this year.The tropical oil has been losing ground against rival soy oil, with
Chicago futures gaining 2.1 percent from the start of the year to Wednesday's
close.
EL
NINO TO NARROW PALM, SOY OIL GAP
Converting
both contracts into U.S. dollars per tonne showed soyoil prices were $117 a
tonne above palm on Wednesday, up from $66 at the end of last year.In the last
major El Nino event in 2009, the gap between the two contracts narrowed sharply
once the full impact of the weather event hit production by the end of 2010.At
the start of 2009, soy oil commanded a $257 premium over palm oil, but this
narrowed to $41 by the end of 2010.Although the gap between the two is
currently not as wide as it was at the start of 2009, history does suggest
there is scope for it to narrow over the medium term if this El Nino is as bad
as forecasters predict.
The
palm oil futures curve <0#1FCPO:> shows it has moved into a mild contango
from being flat three months ago, with the 12-month contract trading 6.6
percent above the three-month on Thursday.Rice is another major Asian commodity
that could be affected by a strong El Nino, with output likely to drop.However,
the rice market is still trying to digest the massive overhang of stocks built
up in Thailand during the government buying program of Yingluck Shinawatra, the
prime minister removed last year by the military partly as a result of the
scheme's vast cost and lack of success.
Thai
benchmark 5-percent broken white rice dropped to $365-$368 a tonne on
Wednesday, the lowest since January 2008.With ample rice stocks and low prices it
may be tempting for governments in importing countries such as the Philippines
and Indonesia to boost reserves in case a severe El Nino does materialize.But
similar to palm oil, rice prices are likely to rise only once it becomes
clearer that output is going to decline because of El Nino.
(Clyde
Russell is a Reuters columnist. The views expressed are his own)
(Editing
by Himani Sarkar)
http://www.reuters.com/article/2015/06/18/us-column-russell-agriculture-asia-idUSKBN0OY12M20150618?utm_source=USA+Rice+Daily%2C+June+19%2C+2015&utm_campaign=Friday%2C+December+13%2C+2013&utm_medium=email
http://in.reuters.com/article/2015/06/19/nagpur-foodgrain-idINL3N0Z537Q20150619
Thursday, 18 June 2015 21:46
Posted by Parvez Jabri
ISLAMABAD: Federation of Pakistan
Chambers of Commerce and Industry (FPCCI) Thursday called for formation of Rice
Development Board (RDB), aimed at development of the sector and boost its
exports for the benefit of the country.According to an FPCCI statement, Abdul
Rahim Janoo, its Sr. Vice President, had written a letter to Engr. Khurram
Dastgir Khan, Federal Commerce Minister and Sikander Hayat Khan Bosan, Federal
Minister for Food Security & Research in this regard.He urged them to
constitute a Rice Development Board (RDB) for providing a single platform to
effectively and forcefully deal with the issues - related to development and
promotion of all varieties of rice grown in the country, especially the unique
Basmati rice as well as regular paddy - of all the stakeholders on Board.
The SVP of FPCCI was of the view
that Rice exports on an average was stuck-up at around $ 2 billion per annum
mainly due to the lack of knowledge about latest research & development in
the field of new rice varieties that yield more at lower cost and are
acceptable to the global market.He disclosed, "Our competitors have come
up with such products due to market oriented or demand driven research in
consultation with all the stakeholders (rice growers, millers, exporters,
traders etc.) on one platform, whereas, on the contrary, our research has been
exclusive and in isolation, either in public or private sectors".The
FPCCI's Sr. Vice President added that formation of the proposed "Rice
Development Board" based on public-private partnership concept would
transcend across all barriers both designed and unintended and would have two
chapters, namely, Basmati Chapter and Paddy Chapter (for regular non Basmati
rice paddy).
"It would have the Federal and
Provincial bodies and institutions seamlessly on the Board besides private
sector as well as technical experts both from public and private sectors",
he elaborated.He further said that the proposed Board would be headed by a
Federal Secretary as Governor of the Board with Deputy Governors, one each for
Basmati and Paddy Chapters, from the rice exporting body to better define
market demand criteria.Abdul Rahim Janoo, SVP, FPCCI therefore, asked both the
Commerce Minister and Food Minister to extend their cooperation for formation
of such a venture.
Soil microbe blocks arsenic uptake in rice
A
microbe that mobilizes an ‘iron shield’ to block the uptake of toxic arsenic in
rice has been found giving hope that a low-cost solution — a probiotic for rice
plants — may be in sight.
http://www.thehindu.com/todays-paper/tp-features/tp-sci-tech-and-agri/soil-microbe-blocks-arsenic-uptake-in-rice/article7327253.ece
Paddy farmers bitter
over paltry increase in MSP
Updated: June 18, 2015 05:45 IST G. VENKATARAMANA RAO
The Centre’s decision to raise
the minimum support price for paddy by Rs 50 to Rs 1410 has left farmers here
disappointed.The Cabinet Committee for Economic Affairs (CCEA) on Wednesday
announced an MSP of Rs 1,410 per quintal of ordinary paddy and Rs 1,450 per
quintal of fine paddy.The Consortium of Indian Farmers Associations (CIFA)
leader, Mr. P.Chengal Reddy said a mere Rs 50 increase in MSP was not
acceptable to farmers in Andhra Pradeshl. The BJP had in its election manifesto
said it would fix MSP at cost of production plus 50 per cent.By breaking its
promise, the Union Government has lost the confidence of farmers here, he
said.Mopidevi paddy farmer Tummala Vishal Rao said ordinary variety paddy
normally fetched Rs 1,060 a bag (75 kg), or Rs 1,413.33 a quintal. He got a
yield of 27 bags per acre and earned Rs 28,620 an acre, but his expenditure
itself would be Rs 23,000.Owner-farmer, Mr Vishal Rao said he would barely
manage to recover his investment but then, but 70 per cent of paddy growers are
tenant farmers, who have to pay a lease cost of 20 bags and would not break
even unless their yields were 40-45 bags an acre.YSR Congress Farmers’ Wing
Convenor, Mr. M.V.S. Nagireddy pointed out that the UPA 1 government had hiked
the MSP for paddy by 83 per cent (from Rs 550 to Rs 1,000) and UPA 2 had
increased it by 31 per cent (from Rs 1,000 to Rs 1,310). The NDA government, in
contrast, increased MSP by a mere 7.5 per cent in two years. The NDA was a
harsh critic of the UPA, but its own performance was worse, Mr. Reddy said.
Nagpur
Foodgrain Prices Open- Jun 18
Nagpur, June 18 Gram and tuar
prices recovered in Nagpur Agriculture Produce and
Marketing Committee (APMC) here on
good demand from local millers amid weak arrival from
producing regions because of heavy
pre-monsoon rains in parts of Vidarbha. Fresh rise in Madhya
Pradesh pulses and enquiries from
South-based millers also jacked up prices, according to
sources.
* * * *
FOODGRAINS & PULSES
GRAM
* Gram varieties ruled steady in open market on subdued demand from
local traders amid
ample stock in ready position.
TUAR
* Tuar gavarani showed weak tendency in open market here in absence of
buyers amid
high moisture content arrival.
* Moong varieties reported down in open market on lack of demand from
local traders
amid release of stock from stockists.
* In Akola, Tuar - 7,300-7,700, Tuar dal - 10,100-10,500, Udid at
9,100-9,600,
Udid Mogar (clean) - 10,700-11,100, Moong - 9,000-9,200, Moong Mogar
(clean) 10,700-11,100, Gram - 4,200-4,500, Gram Super best bold -
6,100-6,300
for 100 kg.
* Wheat, rice and other commodities remained steady in open market in
poor trading
activity, according to sources.
Nagpur foodgrains APMC auction/open-market
prices in rupees for 100 kg
FOODGRAINS Available
prices Previous close
Gram Auction
3,600-4,510 3,570-4,400
Gram Pink Auction
n.a. 2,100-2,600
Tuar Auction
6,350-7,100 6,300-7,100
Moong Auction
n.a. 6,000-6,300
Udid Auction
n.a. 4,300-4,500
Masoor Auction
n.a. 2,600-2,800
Gram Super Best Bold
5,800-6,000 5,800-6,000
Gram Super Best
n.a.
Gram Medium Best
5,500-5,600 5,500-5,600
Gram Dal Medium
n.a. n.a.
Gram Mill Quality
5,100-5,300 5,100-5,300
Desi gram Raw 4,400-4,450 4,400-4,450
Gram Filter new
5,600-5,800 5,600-5,800
Gram Kabuli
5,500-7,000 5,500-5,700
Gram Pink
6,400-6,600 6,400-6,600
Tuar Fataka Best 10,500-10,800 10,500-10,800
Tuar Fataka Medium
9,900-10,300 9,900-10,300
Tuar Dal Best Phod
9,500-9,700 9,500-9,700
Tuar Dal Medium phod
8,800-9,300 8,800-9,300
Tuar Gavarani New
7,250-7,350 7,300-7,400
Tuar Karnataka
7,900-8,000 7,900-8,000
Tuar Black
11,000-11,300
11,000-11,300
Masoor dal best
8,000-8,200 8,000-8,200
Masoor dal medium
7,500-7,900 7,500-7,900
Masoor
n.a. n.a.
Moong Mogar bold
10,400-10,700 10,500-10,800
Moong Mogar Medium best
9,700-10,200 9,800-10,300
Moong dal Chilka
9,100-9,500 9,200-9,600
Moong Mill quality
n.a. n.a.
Moong Chamki best
9,600-9,900 9,600-9,900
Udid Mogar Super best (100 INR/KG)
11,500-11,750 11,500-11,750
Udid Mogar Medium (100 INR/KG)
10,600-10,800 10,600-10,800
Udid Dal Black (100 INR/KG)
8,900-9,200 8,900-9,200
Batri dal (100 INR/KG)
4,200-4,400 4,200-4,400
Lakhodi dal (100 INR/kg)
3,200-3,350 3,200-3,350
Watana Dal (100 INR/KG)
3,300-3,400 3,300-3,400
Watana White (100 INR/KG)
3,000-3,100 3,000-3,100
Watana Green Best (100 INR/KG)
3,600-4,500 3,600-4,500
Wheat 308 (100 INR/KG)
1,400-1,600 1,400-1,600
Wheat Mill quality(100 INR/KG)
1,550-1,650 1,550-1,650
Wheat Filter (100 INR/KG)
1,400-1,600 1,400-1,600
Wheat Lokwan best (100 INR/KG)
2,200-2,400 2,200-2,400
Wheat Lokwan medium (100 INR/KG)
1,900-2,100 1,900-2,100
Lokwan Hath Binar (100 INR/KG)
n.a. n.a.
MP Sharbati Best (100 INR/KG)
3,100-3,600 3,100-3,600
MP Sharbati Medium (100 INR/KG)
2,700-2,900 2,700-2,900
Wheat 147 (100 INR/KG)
1,400-1,500 1,400-1,500
Wheat Best (100 INR/KG)
1,900-2,100
1,900-2,100
Rice BPT New(100 INR/KG)
2,600-3,000 2,600-3,000
Rice BPT (100 INR/KG) 3,200-3,400 3,200-3,400
Rice Parmal (100 INR/KG)
1,500-1,750 1,500-1,750
Rice Swarna new (100 INR/KG)
2,150-2,450 2,150-2,450
Rice Swarna old (100 INR/KG)
2,600-2,800 2,600-2,800
Rice HMT new(100 INR/KG)
3,100-3,600 3,100-3,600
Rice HMT (100 INR/KG)
3,600-4,000 3,600-3,900
Rice HMT Shriram New(100 INR/KG)
4,000-4,500 4,000-4,500
Rice HMT Shriram old (100 INR/KG)
4,500-5,200
4,500-5,200
Rice Basmati best (100 INR/KG)
8,200-10,200 8,200-10,200
Rice Basmati Medium (100 INR/KG)
6,000-7,200 6,000-7,200
Rice Chinnor new (100 INR/KG)
4,700-4,900 4,700-4,900
Rice Chinnor (100 INR/KG)
5,200-5,600 5,200-5,600
Jowar Gavarani (100 INR/KG)
2,200-2,450 2,200-2,450
Jowar CH-5 (100 INR/KG)
2,500-2,600 2,500-2,600
WEATHER (NAGPUR)
Maximum temp. 36.6 degree Celsius
(92.5 degree Fahrenheit), minimum temp.
23.3 degree Celsius (73.9 degree
Fahrenheit)
Humidity: Highest - n.a., lowest -
n.a.
Rainfall : 17.0 mm
FORECAST: Partly cloudy sky. Rains
or thunder-showers likely towards evening or night. Maximum and minimum
temperature would be around and 35 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.)
PH to buy higher priced rice from Vietnam
June 18, 2015 9:58 pm
THE Philippines has agreed to pay
Vietnam close to $1 million more as the National Food Authority (NFA) scrambles
to fill up its buffer rice stock requirement two weeks ahead of the lean
season.During a special meeting on June 17, the interagency NFA Council has
accepted Vietnam’s revised offer of $416.85 per metric ton (MT) for 100,000
metric tons of rice, the staterun grains agency said in a statement.The offer
was above the $408.14 per MT ceiling set by the Philippine government.Earlier,
he NFA Committee on GovernmenttoGovernment Procurement (CGGP) rejected
initial offers from Cambodia, Thailand, and Vietnam, which were way above the
reference price for 100,000 MT of wellmilled, long grain white rice—25 percent
broken.
Thailand offered $418 per MT,
Vietnam offered $417, and Cambodia offered $464.During the second round,
Thailand backed out of the bidding, saying that the Philippine government’s
reference price was too low compared with the average price prevailing in the
world market.Cambodia offered 50,000 MT at $455.50 per MT, while Vietnam
offered 100,000 MT at $416.85 per MT – both offers were beyond the ceiling set
by the NFA Council.The situation compelled the CGGP to call on the NFA Council
for a decision.
The NFA Council is chaired by
Secretary Francis N. Pangilinan of the Office of the Presidential Assistant for
Food Security and Agricultural Modernization, with the Bangko Sentral ng
Pilipinas, Development Bank of the Philippines, Land Bank of the Philippines,
Department of Finance, Department of Trade and Industry, National Economic
Development Authority, NFA and a farmer’s representative as members.The council
awarded the contract to Vietnam, citing that “under the terms of reference of
the G2G importation, in the event that revised offers are submitted, these
shall be evaluated on the basis of the lowest price.”The 100,000 MT of rice is
part of the 250,000 MT that the NFA Council approved to buy under the
recommendation of the Food Security Committee to head off the lean season when
the supply of rice is traditionally low and prices are high.
The shipment is expected to
arrive in the country on August 15.NFA Administrator Renan Dalisay said the
weighted average price for the 250,000 MT was $412.81 per MT while the average
price for the rejected bids was $455 for Cambodia, $419 (Thailand), and $418
(Vietnam).“Taking this bid and comparing it to the average weighted price of
$412.81 will show that we got a good price relative to the initial bid offers,”
Dalisay said in a text message.The NFA chief said they are under pressure to
make the rice imports available by July 1, the start of the lean season.
http://www.manilatimes.net/ph-to-buy-higher-priced-rice-from-vietnam/193045/
840,000 tons of rice
sold in the 3rd/2015 rice auction
Thursday, 18 June 2015
BANGKOK, 17 June 2015 - The Ministry of Commerce reported that
840,000 tons of rice out of the 1.06 million tons worth 7.8 billion baht in the
government stockpile, were sold in the 3rd auction.Miss Banjongjit Angsusingh,
Deputy Director-General of the Department Foreign Trade, said 40 out of the 43
qualified business operators made offers this time. She said 107 out of 153
silos of rice had been sold, netting 7.8 billion baht in a 840,000-ton rice
deal.The Deputy Director-General said her department would forward the auction
result to the National Rice Policy Committee before officially announcing it to
the public and the bid winner in due course.
http://www.pattayamail.com/business/840-000-tons-of-rice-sold-in-the-3rd-2015-rice-auction-48139#sthash.5SMocWDU.dpuf
EU seeks aromatic rice
import deal with Myanmar
EU seeks aromatic rice impo
Xinhua
News Agency on Jun 17, 2015 @ 8:20 PM
EU
seeks aromatic rice import deal with Myanmar.EU seeks aromatic rice import deal
with Myanmar
YANGON, June 18
(Xinhua) -- The European Union is seeking to import Myanmar's aromatic rice as
demand in Europe is on rise, an official report said Thursday.Myanmar has two
types of aromatic rice - Lone Thwal Hmwe and Paw San. Paw San was judged the
world's best rice at the World Rice Conference in 2011.Officials of the Myanmar
Rice Federation (MRF) said Myanmar can grow both short and long grain aromatic
rice to meet EU demand through the country's contract farming system, pointing
out that exporting to Europe would enable Myanmar growers to diversify their
markets.
However, the
officials added that local farmers will need to grow a greater volume of
aromatic rice to supply the EU market as local consumption already accounts for
most of the crop.Paw San rice is priced at around 900 U.S. dollars per ton in
its export.According to the MRF, Myanmar targets to export some 200,000 tons of
rice to the EU this year against 100,000 tons last year.About 70 percent of
Myanmar's rice export go to China with the rest going to EU, Japan and African
markets.EU figures show that export of Myanmar milled rice to Europe increased
120 percent between September 2014 and April 2015, while broken rice export
rose 81 percent during the same period.Myanmar official statistics show that
the country's rice export reached nearly 2 million tons in the fiscal year
2014-15 which ended in March, up 40 percent from the previous year.
This
article was produced by the Xinhua News Agency, the official press agency of
the People's Republic of China. Xinhua describes itself as the
"information organ of the central government." Given China’s size and
importance, GlobalPost publishes Xinhua’s press feed as a resource for its
readers and makes no claims as to journalistic accuracy
Tidbits: Kool-Aid gelatin dessert; jasmine and basmati rice
Hamilton Spectator
JIGGLE VS. JIGGLE
Mr. Tidbit has seen some strange
things, but he doesn't recall ever seeing a product and a new virtually
identical competing product coming from the same company.But that's the case
with new Kool-Aid gelatin dessert. It's made by the Kraft Foods Group, which
also makes Jell-O. The Kool-Aid box carries the iconic Kool-Aid pitcher, but
otherwise there is almost no difference between the 3-ounce packages, and when
Mr. Tidbit and two of his little friends tried the grape version of each, they
found no apparent difference in Flavour. Both desserts even had the identical
amethyst colour. (Mr. Tidbit would have called it "purple," but his
little friends are much more graphics-oriented.)
There is one difference, though: Where Mr. Tidbit found them,
the box of Jell-O sold for 67 cents; the Kool-Aid gelatin was 73 cents. That's
9 per cent more.
MORE NICE RICE
A few weeks ago, Mr. Tidbit
discussed his somewhat delayed discovery of Uncle Ben's new basmati rice and
jasmine rice, which cook in 10 minutes (and Uncle Ben's two-serving Ready Rice
versions of basmati and jasmine rice, which microwave in 90 seconds and are so
old that the packages don't even say "new"). He marvelled that the
once-exotic rices had begun turning up as brand-name staples.Since then, he
discovered that he had still failed to notice several other related brand-name
products, not one of which apparently is new. There's Uncle Ben's Ready Rice
brown basmati rice, and entries from two other rice purveyors:
Success Rice sells jasmine and
basmati rice in 14-ounce boxes (eight boil-in-bag servings) at essentially the
same per-ounce price as the Uncle Ben's 10-minute products.And there's Minute
Rice jasmine rice in a two-pack of single-serving microwave tubs. Where he
found it, it's a little cheaper than the Uncle Ben's microwave products. But
all the microwave rices are much more expensive per serving than any of the
rices that require you to get out a pan. Serving sizes are inconsistent, but
the cost of a serving of one of the microwaved aromatic rices is roughly triple
that of one of the you-boil-it versions.
Minute Rice apparently also sells boil-in-the bag jasmine and
basmati rices, but Mr. Tidbit hasn't found them on the shelf anywhere. Yet.
Star Tribune (Minneapolis)
APEDA NEWS (INDIA)
|
Price on: 18-06-2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pakistan to
draft GI law
It aims at bring international
distinction to indigenous Pakistani products
As the negotiators in Geneva, last month, approved a revised
international registration system providing protection for names that identify
the geographic origin of products such as coffee, tea, fruits, wine, pottery,
glass and cloth, Pakistan also plans to enact a Geographical Indication Law (GI
law) to bring international distinction to indigenous Pakistani
products.Minister for Commerce Khurram Dastgir Khan said on Thursday that the
GI law would be enacted for the registration of Pakistani products having
unique attributes for recognition at the international level.
The GI is a concept of
international trade which associates a certain product to a specific location
thus identifying its originality and uniqueness. Such an indication to any
product distinguishes it from the rest of same kind thus bringing premium to its
price.Dastgir said directions had been issued to the ministry of commerce to
initiate coordination with the concerned stakeholders of the intellectual
property organisation Pakistan, ministry of national food security and
research, concerned provincial departments and private sector. He said the GI
law was needed and would enhance visibility of several Pakistani export items
in the international market.The government has remained under pressure from the
basmati growers and exporters since the start of this millennium to enact the
GI law to oust India from the basmati market. However, the commerce ministry
and ministry of agriculture failed to enact the law.
Pakistan possesses several such
products which have distinctive attributes through which they can make a niche
in the international market once they are certified as GI. Basmati rice,
Chaunsa mango, Hunza apricot, Peshawari chappal, Sindhi ajrak are among the top
Pakistani products which will get international recognition under the GI
law.Experts are of the opinion that if Pakistan enacts the law then export of
Pakistani products like basmati rice and fruits will pick up in near future
which at present are under a lot of pressure from India. Absence of GI law has
led to the failure of investment in the basmati rice processing, especially in
Punjab, during the last decade, even though initially it was projected that the
new investment along with GI certification will open new markets in Middle
East, Far East, Europe and North America.
It is important to mention a
diplomatic conference in Geneva on May 21, 2015, which adopted the Geneva Act
of the Lisbon Agreement on Appellations of Origin and Geographical Indications.
The Geneva Act allows the international registration of GIs, in addition to
appellations of origin, and permits the accession to the Lisbon Agreement by
certain intergovernmental organisations. The new GI agreement drafted by the
World Intellectual Property Organisation will lead to new era of trade of GI
products.
http://www.pakistantoday.com.pk/2015/06/18/business/pakistan-to-draft-gi-law/
Rice millers
threaten agitation against 'corrupt practices' in FCI
|
Updated:
Jun 18, 2015 21:36 IST
|
The
Punjab Rice Millers Association (PRMA) has warned that if 'corrupt practices'
did not stop in the Food Corporation of India (FCI) during the coming paddy
season, then the rice millers would boycott the milling process and start a
state-wide agitation.
|
The PRMA alleged that the
authorities of the FCI were not showing any interest to check corruption in the
procurement system though the Union government has taken it seriously.Addressing
a state-level meeting here on Thursday, Tarsem Saini, state president of the
PRMA, said that there was no doubt that the Union government had formed some
best policies for purchasing and storing of foodgrains, however, at the ground
level, the policies are not being implemented.
He said the FCI had issued a
circular that while accepting the custom-milled rice, the authorities would
record the weight of only 10% of the delivery for acceptance and storage of the
stock in the warehouses. "But, the FCI is not willing to record the weight
of the whole consignment of rice even as the computerised weighing machines are
available with them at their warehouses," said Saini.During the meeting,
the rice millers said that now Adesh Partap Singh Kairon, minister for food and
civil supplies, has agreed to allocate and distribute paddy in a uniform way to
the millers by constituting sub-committees at the local level so as to end
corruption in the allotment of paddy quota to the millers.
"Under this concept, we are
going to set up special committees at the district level across the state to
check corrupt practices during the period of paddy allocation," he
said.Rice millers raised their voice against the FCI and said that, in most
cases, bribe is demanded from millers for acceptance of the stock and for
quality assurance.PRMA leaders said, "FCI authorities also blackmail rice
milers on the pretext of quality checking of the stored rice and by conducting
tests in FCI laboratories. The union government has recently set up the Central
Grain Analysis Laboratory (CGAL) at New Delhi and all the samples of disputed cases must be referred
to it and the report of this laboratory should be considered final."
http://www.hindustantimes.com/bathinda/rice-millers-threaten-agitation-against-corrupt-practices-in-fci/article1-1360325.aspx
Vermont's GMO labeling
law could cost grocers up to $10 million per day in fines
·
JUN. 18, 2015, 10:46 PM
Erik De Castro / ReutersA scientist shows "Golden Rice" (R) and
ordinary rice at the International Rice Research Institute in Los Banos, Laguna
south of Manila, August 14, 2013.
MONTPELIER, Vt. (AP) — Vermont's
first-in-the-nation law requiring the labeling of foods made with genetically
modified organisms could cost the nation's grocers up to $10 million a day in
fines, according to a letter from an industry organization that is suing the
block the law.The letter to Gov. Peter Shumlin from the head of the Grocery
Manufacturers Association, dated Wednesday, said companies could be fined up to
$1,000 a day per unlabeled item — a can of soup or a box of cereal, for
instance — that mistakenly ends up on store shelves. The law is due to take
effect next year.
"Even with the best of intentions, excellent supply chain
logistics and herculean efforts, product will be in the wrong place at any
given time, resulting in millions upon millions of dollars in potential
fines," said GMA President Pamela G. Bailey.She estimated more than 100,000
items sold in the state would require Vermont-specific labels, a companies
could quickly amass millions in fines if only 5 to 10 percent of products slip
through.Shumlin had a clear response Thursday: "Just label your products.
All of them nationwide."He said labeling foods with genetically modified
organisms — which can include food made from seeds that were originally
engineered in laboratories to have certain traits, like resistance to
herbicides — is already required by 64 countries.
"The industry's real concern
is that as goes Vermont so will go America," Shumlin said. "Plain and
simple Vermont's law is about giving consumers the right to know what is in
their food. For too long consumers in America have been denied that
right."Bailey said members of the association have determined that
changing labels to comply with Vermont's law will cost more than they earn
selling their products in the state."A $10 million per day fine to comply
with the labeling law of the second smallest state in the Union is hugely
problematic for an industry that employs 14 million U.S. workers and represents
the largest sector of manufacturing," she said.
REUTERS/Mark BlinchA protester holds a sign reading
"Ban GMO" (Genetically Modified Organism) in the "March Against Monsanto" in
Toronto, May 24, 2014.A proposal pending in Congress would block mandatory GMO
labeling efforts such as Vermont's and others being considered by a number of
states. The bill, introduced by Rep. Mike Pompeo, R-Kan., provides for voluntary
certification from the U.S. Department of Agriculture.Much of the country's
corn and soybeans are genetically modified, with much of that going to animal
feed. GMO corn and soybeans can also be made into popular processed food
ingredients like high-fructose corn syrup and soybean oil.The Vermont law calls
for labeling processed GMO foods and for retailers to post signs on displays of
unpackaged genetically engineered foods. It also sets a civil penalty of $1,000
per day per product.
Throughout
the legislative and legal debate on GMO labeling, industry groups have argued
there is no difference between foods made with GMOs and other foods.The Grocery
Association argues in its federal lawsuit to block the law that the First
Amendment gives them broad discretion about what to include on their labels and
that there's no compelling state interest to offset that.The legal case is
pending.Bailey acknowledged in her letter the association is trying to block
the law in court, but until that happens it is working to comply."We would
appreciate the opportunity to work cooperatively with the state to minimize the
liability that almost certainly will arise despite the best efforts of the GMA
member companies, as well as others in the industry," the letter said.
In
Memory: Wayne N. Zaunbrecher
Wayne
Zaunbrecher
USA Rice is deeply saddened by the passing of longtime Louisiana
rice leader Wayne N. Zaunbrecher, 76, who died on Wednesday, June 17,
2015. Mr. Zaunbrecher was a rice and
cattle producer who worked with his brother Floyd on the family farm. He served as treasurer of the Louisiana Rice
Promotion Board and was on the Louisiana Rice Council Board of Directors. A native of Gueydan, Louisiana, Mr.
Zaunbrecher was a loving husband, father, grandfather and
great-grandfather. Survivors include his
wife of 54 years, Linda Guidry Zaunbrecher, who serves on the USA Rice
Producers' Group Board, daughters Alison and Andrea, and their families.
Visitation will be at Vincent Funeral Home, 311 Fourth Street, Gueydan,
Louisiana, 70542. Visiting hours are 1
p.m. to 10 p.m., with a rosary at 7 p.m., on Thursday, June 18, and on Friday,
June 19, from 9 a.m. until funeral services at a 3 p.m. Mass of Christian Burial at St. Peter the
Apostle Roman Catholic Church, 603 Main Street, Gueydan, Louisiana, 70542. Memorial donations can be made online or by
check to the LSU Foundation atlsufoundation.org or to Vermilion Parish Farm
Bureau for a scholarship fund.USA Rice extends heartfelt condolences to the
family and friends of Wayne Zaunbrecher
Rural Town
Halls to Spotlight Presidential Candidates
RFD-TV's
Patrtick Gottsch (l) and Orion Samuelson
WASHINGTON, DC -- RFD-TV announced this week their intention to
produce a series of live, one-hour televised town halls with presidential
candidates to focus exclusively on issues important to the rural and
agricultural communities."When we launched RFD-TV fifteen years ago we
intended for it to serve the needs of rural America and to connect rural and
urban audiences," said Patrick Gottsch, founder and president of RFD-TV
and Rural Radio, at a press conference here.
"We're taking a major step towards reconnecting the rural and urban
audiences with these town halls.
"As the divide between rural and urban grows wider each year,
and fewer people have an understanding of where their food comes from, and what
it takes to grow it, the sessions could help bridge an important gap."I
grew up on a dairy farm in Wisconsin milking cows, and my children always had
farms to visit. My grandchildren do not have farms to visit," said Orion
Samuelson a famed rural broadcaster who will host and moderate the town
halls. "I'm looking forward to discussing
the politics of agriculture with the people who want to be President of the
United States."Gottsch and Samuelson said they see the town halls as an
opportunity to educate candidates on rural issues as well as provide them an
opportunity to share their vision with the engaged, voting rural audience."We're
going to send the candidates a list of about 200 questions that may come up -
we want a good dialogue - we're not trying to embarrass anyone," said
Samuelson. "We also hope to have a
studio audience providing questions, and email questions from viewers at home
too."
Gottsch said he doesn't want to ask any of the questions the urban
media ask the candidates, but rather will focus on issues such as water use,
immigration, animal rights, the use of pesticides and antibiotics in farming,
and other vital rural issues."This seems like an excellent opportunity to
spend quality time on very specific, nuts and bolts issues with men and women
vying for the most important job in the world," said Michael Klein, vice
president of communications for USA Rice.
"We're going to work with our friends at RFD-TV to try to get some
rice specific questions in front of these candidates.""Rural Town
Hall" will be recorded at locations around in Iowa and at RFD-TV studios
in Nashville and will premiere in July on Mondays at 8pm eastern and Thursdays at
10pm eastern. RFD-TV can be seen on
DirecTV (channel 345), DISH Network (channel 231), and through some other rural
cable providers. Check with your system
provider or log on to RFDTV.com for more details.
Contact: Deborah Willenborg (703) 236-1444
|
Weekly
Rice Sales, Exports Reported
|
|
WASHINGTON,
DC -- Net rice sales of 32,300 MT for 2014/2015 were down 11 percent
from the previous week and 15 percent from the prior four-week average,
according to today's Export
Sales Highlights report. Increases
were reported for Mexico (10,400 MT), Costa Rica (9,700 MT, including 8,200
MT switched from unknown destinations), Japan (7,600 MT), Guatemala (6,900 MT,
including 5,000 MT switched from unknown destinations), and El Salvador
(5,000 MT, including 5,600 switched from unknown destinations and decreases
of 600 MT). Decreases were reported for unknown destinations
(18,700 MT) and Taiwan (4,900 MT). Net sales reductions of 100 MT
for 2015/2016 were reported for Japan. Exports of 53,600 MT were
down 48 percent from the previous week and 31 percent from the prior 4-week
average. The primary destinations were Mexico (14,100 MT), Saudi
Arabia (13,700 MT), Costa Rica (8,300 MT), Guatemala (6,600 MT), and El
Salvador (5,300 MT).This summary is based on reports from exporters from the
period June 5-11, 2015.
|
|
CME
Group/Closing Rough Rice Futures
|
||||||||||||||||||||||||
|
Good rice crop
Posted: Jun 17, 2015 2:55 PM PDTUpdated: Jun 17, 2015 2:55 PM PDT
Ben
McKnight, LSU AgCenter research associate and doctoral student, talks about
research with an aquatic weed herbicide, benzobicyclon, made by Gowan. (Photo
by Bruce Schultz, LSU AgCenter)
CROWLEY, La. – Unusually excessive rainfall and cloudy days have
been a challenge for growing rice, but it's too early to become pessimistic
about this year's crop, according to the director of the LSU AgCenter Rice
Research Station.“We've still got the potential for a good crop,” said Steve
Linscombe, also a rice breeder, talking at the Acadia Parish rice field day
held Tuesday (June 16).Linscombe said the silver lining to the cloudy weather
has been mild night temperatures that foster good rice development.
He said the long-term forecast calls for moderate night
temperatures.He said blast disease is a concern with the wet weather,
especially for Jupiter and CL151 varieties that will require
fungicides.Linscombe also said he is optimistic that an agreement to sell rice
to China is close to being finalized, and that could boost rice prices. “They
want U.S. rice,” he said.Water and soil contamination issues in China have
caused some consumers there to look to U.S. rice as a safer alternative to the
domestically produced product, he said.LSU AgCenter economist Kurt Guidry said
just talk of a big corn purchase by China has driven prices up by 30 cents to
50 cents a bushel.Guidry said the long-term forecast for rice is not
encouraging, but a possible acreage reduction in Arkansas could help reduce
rice stockpiles.Prices are low because of low demand and high supply, he
said.Exports of long-grain rice are up by 9 percent from last year, Guidry
said. “They just haven't been good enough to support a price increase.”
Exports of medium-grain rice have dropped by a fourth to a third
from last year, and the medium-grain prices have fallen, Guidry said.The low
prices could mean that rice farmers enrolled in the Price Loss Coverage program
in the current farm bill could receive as much as $93 to $103 per acre, he
said.Rice farmers got the chance to hear from Adam Famoso, the new rice breeder
at the Rice Research Station. He was a rice researcher for Dupont Pioneer in
Iowa before joining the LSU AgCenter.“I think Adam is going to be a very
valuable addition to our team,” Linscombe said.Linscombe said he has a
medium-grain Clearfield line in development that could be accepted by
Kellogg's.
He also has 18 lines of the Provisia rice that probably will
result in one or two candidates that could become a variety.He also has a
Clearfield long-grain line with the yield potential of CL151 and better
resistance to blast and lodging with improved grain quality. The line, LA2134,
could be a release for 2016, and a 20-acre seed increase is being grown now at
the Rice Research Station.AgCenter weed scientist Eric Webster said this year's
wet weather has caused problems with the use of the herbicide Prowl in rice
that has been broadcast seeded. The seeding method doesn't result in uniform
seed-to-soil contact and remains in the wet conditions and it develops a root
system slowly.Webster said the rice weed program has 70 trials at the Rice
Research Station and at the LSU AgCenter Northeast Research Station near St.
Joseph.
Ben McKnight, Webster's research associate and a doctoral student,
talked about the use of benzobicyclon for aquatic weeds. He said the Gowan
product is probably the best material available for ducksalad.AgCenter soybean
specialist Ron Levy said the rainy weather has caused problems for many
farmers. But in northeast Louisiana, some fields have required irrigation,
while some soybeans in northwest Louisiana along the Red River have been
flooded.Elsewhere, rainy weather has prevented many farmers from planting
soybeans. “In southwest Louisiana we probably have the worst conditions,” Levy
said.More herbicide-resistant soybeans are becoming available, he said. “They
are going to be the future of soybean production.”Guidry said soybean prices
have fallen because of a large supply, but demand in China remains high.
http://www.ktbs.com/story/29346132/louisiana-still-has-potential-for-a-good-rice-crop?utm_source=USA+Rice+Daily%2C+June+18%2C+2015&utm_campaign=Friday%2C+December+13%2C+2013&utm_medium=email
SME EXPORT HOUSE MUCH NEEDED TO PROMOTE SMES
The Union of Small and Medium
Enterprises ( UNISAME ) has urged S.M.Munir CEO of Trading Corporation of
Pakistan ( TDAP ) to set up the promised SME Export House from export
development funds on the premises to be vacated by the Rice Exporters
Association of Pakistan ( REAP ) due to disbandment of the Quality Review
Committee ( QRC ) by the end of the fiscal year before 30th June
2015 positively as reportePresident UNISAME Zulfikar Thaver said REAP had
purchased properties in Karachi and Lahore for its own offices from QRC
funds which it is obliged to return as it is public funds and belongs to the
state and cannot be in the ownership of REAP under any circumstances
REAP had wrongfully got the transfer in its name instead of TDAP and objections have been raised by the relavent authorities who are at a loss to understand as to who gave them the permission to purchase immovable property in the name of a trade body.In fact it is believed the auditors would also report the discrepency in the audit which is being conducted would also pinpoint the questionIt would therefore be appropriate if REAP returns its offices in Karachi and Lahore to TDAP gracefully and rent out premises for itself rather than continue to use property purchased with public funds unlawfully without lawful permissionThe premises would be best suited for an SME Export House with modern facilities for SMES and supported with Internet network for SME Gallery with expertise of SMEDA. It would be an ideal utilization of property rightfully belonging to the state.Thaver reminded the TDAP to expedite the SME Export House for which preliminary work was done and a steering committee was formed with experts by TDAP.He said TDAP could join hands with the Small and Medium Enterprises Development Authority ( SMEDA ) who has also done preliminary work as the SME Export House is promised in the SME policy.
REAP had wrongfully got the transfer in its name instead of TDAP and objections have been raised by the relavent authorities who are at a loss to understand as to who gave them the permission to purchase immovable property in the name of a trade body.In fact it is believed the auditors would also report the discrepency in the audit which is being conducted would also pinpoint the questionIt would therefore be appropriate if REAP returns its offices in Karachi and Lahore to TDAP gracefully and rent out premises for itself rather than continue to use property purchased with public funds unlawfully without lawful permissionThe premises would be best suited for an SME Export House with modern facilities for SMES and supported with Internet network for SME Gallery with expertise of SMEDA. It would be an ideal utilization of property rightfully belonging to the state.Thaver reminded the TDAP to expedite the SME Export House for which preliminary work was done and a steering committee was formed with experts by TDAP.He said TDAP could join hands with the Small and Medium Enterprises Development Authority ( SMEDA ) who has also done preliminary work as the SME Export House is promised in the SME policy.
APEDA NEWS
(INDIA)
|
Price on: 17-06-2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Food prices increase
ahead of Ramazan
KARACHI: The price of gram flour (baisin) has touched new peak
of Rs120 from Rs90-93 per kg last month owing to its rising demand ahead of
Ramazan.
Among other commodities, prices
of fruits, vegetables, sugar, pulses and rice also witnessed an increase.The
price list issued by the Commissioner of Karachi, which is effective from June
16-30, 2015, carries the gram flour retail price of Rs58 per kg.Last month,
gram pulse was available at Rs85 per kg which rose to Rs90 per kg in May and
since then it maintains an upward trend.Now gram pulse rate hovers between
Rs100 and Rs110 per kg in various areas but the commissioner is forcing the
retailers to sell it at Rs58 per kg.
Sugar price now ranges between Rs62 and Rs64 per kg as compared
to Rs60 per kg last month. The current official rate of sugar is Rs61 per
kg.Kabuli channa white and black are priced at Rs100 and Rs120 per kg as
compared to their control rate of Rs75 and Rs55 per kg, respectively. Last
month these items were available below Rs100 per kg in retail.Syrups and
juices, which are widely used in Ramazan, are being sold in black, and
consumers are paying Rs10 more on various brands.Retailers said the companies
have not increased prices but due to tight supply and high demand, wholesalers
are demanding Rs1,760 for 12 bottles of Rooh-i-Afza (800ml) for the last three
days as compared to Rs1,680. Jam-i-Shireen carton is available at Rs1,760 as
compared to Rs1,700.
As a result, 800ml bottle of Rooh-i-Afza and Jam-i-Shireen is
being sold at Rs160 as compared to Rs150 a few days back.Overcharging is also
rampant on 1.5 litre bottles as wholesalers are selling six-bottle pack at
Rs1,620 as compared to Rs1,520. Retailers are charging Rs280 for 1.5 litre
bottle as compared to Rs270.Pulses: Moong has further become costlier and is
being sold at Rs180 per kg. Its official rate is Rs132.The official rate of
masoor is Rs109, but retailers are charging Rs140-150 per kg. Mash is selling
for Rs180 per kg but its official rate is Rs132.Traders have expedited pulses
imports in view of demand and supply gap in some items.According to figures of
Pakistan Bureau of Statistics (PBS), import of overall pulses during July-April
2014-15 went up to 525,622 tonnes ($322 million) as compared to 390,742 tonnes
($240 million) in the same period of the last fiscal year.
The official rate of kernal basmati rice is Rs127 per kg but
retailers are demanding over Rs140-150.The official rates of various varieties
of rice vary and there is a difference of Rs20 to 40 in their prices.The price
list has been issued with the consultation of Karachi Wholesalers Grocers
Association, Jodia Bazaar Traders’ Association, Karachi Retail Grocers Group,
Bureau of Supply and Prices, Consumers’ Associations and civil society, but a
vast gap exists between official and market rates.Retailers are of the view
that if Karachi administration assures supply of items at officially fixed
rates, they would have no problem in demanding official price from consumers.
Published in Dawn, June 18th, 2015
MSP hike no
worry; basmati output to rise 5-7%
Kohinoor The short rain prediction by the Indian
Meteorological Department (IMD) is not going to affect Kohinoor adversely as
farmers in Punjab UP and Haryana were competent enough to face a situation like
that of short rains or drought, Satnam Arora, Managing Director, Kohinoor Foods
told CNBC-TV18. 1 0Google +0 0 Midcap Radar 01:30 pm
The Rs 50 rise in Minimum Support Price (MSP) for paddy is not a concern
for Kohinoor Foods . Speaking to CNBC-TV18, Satnam Arora, Managing
Director, Kohinoor Foods, says the company’s major export product is
basmati rice, with non-basmati products contributing only 7-8 percent
to its revenues.
“This hike in MSP will make non-basmati rice expensive
by USD 30, internationally,” he said He says the less rainfall prediction by
the Indian Meteorological Department (IMD) is not going to affect the company
adversely as farmers in Punjab, UP and Haryana are competent enough to face a
situation like that of less rains or drought. The overall production of rice
will be perfect and basmati production will be 5-7 percent more than last year,
Arora said. The company’s prices will adjust internationally in the global
market, despite the hike, as the prices were lucrative and competitive for its
customers, he further added. Hailing the government's move to increase the MSP
of paddy, Arora says: “Cost of farmers has gone up and we have to support our
farmers.” Below is the edited transcript of Satnam Arora’s interview with
Mangalam Maloo and Reema Tendulkar on CNBC-TV18. Mangalam: Do you see any
impact in the proposed hike of about Rs 50 in paddy which comes up to about 3.5
percent?
A: This Rs 50 is good for the farmer but business wise
the price of rice will go up. We do a little non-basmati rice so it will affect
our pricing in the international market. We will be expensive by almost USD 30
and in case international price can afford it then we will definitely ship it.
Whereas on Kohinoor it does not have a large impact because our non-basmati exports
are very les compared to basmati. Reema: Can you give us the percentage, the
contribution on non-basmati to your revenues? A: Non – basmati is almost 7-8
percent in comparison to our basmati business. Mangalam: We were also taking
about rains, the MET department has indicated that there is an 88 percent
probability of lesser rains but in the first 5-6 days of the monsoon it has
said that there has been 13 percent above normal so what do you make of the
rains and will there be an impact on the crops of basmati rice this year?
A: In my view it is not going to affect adversely to
the basmati farming because mostly all the farmers in Punjab, UP, Haryana they
have their other arrangements also so in case of any short rain basmati will
not be affected because they are quite competent to face all this droughts. The
rain so far looks normal in our area. In our view it will not affect adversely
to our basmati farm. Reema: Generally not just basmati but the productions of
rice this year how much will it be and you don’t expect any shortage or short
fall because of the monsoon? A: In my view the overall production of rice will
be perfect and even in basmati rice, it may grow by 5-7 percent but it will not
be down in comparison to the last year. Reema: So last year basmati production
you said was down but this year you are expecting it to be 5-7 percent? A: More
than last year and the other thing is we expect much bigger business in basmati
this year also because prices are very competitive and it is very attractive
and lucrative to our customers and they will definitely buy larger quantities
this year comparison to last year.
Mangalam: Were
we to see a hike or a rise in Basmati rice prices will go be able to pass it on
to your customers going forward or perhaps you will take a hit on your margins
then? A: Basmati rice price, it is every day game. Every day we buy and every
day we sell and the customer is aware of it. So, the rice is sold only on the
regular prices; so it is a regular business nobody will take the hit neither
the customers nor Kohinoor Foods. Why should be take a hit in case our customer
is ready to pay more price. Moreover in branding we always charge some better
margins on it so that it is good for organisation. Reema: The MSP price hike
that we are picking up from our sources at 3.7 percent would that be in line
with what the market or industry was expecting?
A: The costs of the farmers have also gone up and what
the government has done is very good. We have to support our farmers also. In
international market the prices will also jump so it will adjust into the
market pricing so adversely it is not going to affect our rice industry.
Kohinoor Foods stock price On June 19, 2015, Kohinoor Foods closed at Rs 43.65,
down Rs 0.15, or 0.34 percent. The 52-week high of the share was Rs 63.85 and
the 52-week low was Rs 38.80. The latest book value of the company is Rs 117.06
per share. At current value, the price-to-book value of the company was 0.37.
Download/View On-Line the above News
in pdf format,just click the following link
