Nagpur
Foodgrain Prices Open-Feb 12
Nagpur Foodgrain Prices - APMC & Open Market-February 12
Nagpur, Feb 12 Gram and tuar prices firmed up again in Nagpur Agriculture Produce
and Marketing Committee (APMC) here on increased demand from local millers amid weak supply from producing belts. Fresh hike on NCDEX in gram, upward trnd in Madhya Pradesh pulses prices andreported demand from South-based millers also jacked up prices, according to sources.
* * * *
FOODGRAINS & PULSES
GRAM
* Desi gram raw reported higher in open market on good seasonal demand from local
traders amid tight supply from producing regions.
TUAR
* Tuar varieties ruled steady in open market here but demand was poor.
* Lakhodi dal and watana dal recovered in open market on good demand from local
traders amid thin arrival from producing regions.
* In Akola, Tuar New - 8,000-8,200, Tuar dal New - 12,500-13,700, Udid -
12,600-13,600, Udid Mogar (clean) - 14,900-16,700, Moong -
8,400-8,600, Moong Mogar (clean) 9,400-9,700, Gram - 4,100-4,200,
Gram Super best bold - 5,300-5,700 for 100 kg.
* Wheat, rice and other commodities moved in a narrow range in
scattered deals, settled at last levels.
Nagpur foodgrains APMC auction/open-market prices in rupees for 100 kg
FOODGRAINS Available prices Previous close
Gram Auction 4,000-4,510 4,000-4,400
Gram Pink Auction n.a. 2,100-2,600
Tuar Auction 7,200-8,450 7,100-8,400
Moong Auction n.a. 6,400-6,600
Udid Auction n.a. 4,300-4,500
Masoor Auction n.a. 2,600-2,800
Gram Super Best Bold 5,900-6,100 5,900-6,100
Gram Super Best n.a. n.a.
Gram Medium Best 5,500-5,700 5,500-5,700
Gram Dal Medium n.a. n.a
Gram Mill Quality 4,500-4,600 4,500-4,600
Desi gram Raw 4,500-4,550 4,450-4,500
Gram Filter new 4,600-4,900 4,600-4,900
Gram Kabuli 6,000-8,000 6,000-8,000
Gram Pink 6,400-7,200 6,400-7,200
Tuar Fataka Best-New 12,500-13,000 12,500-13,000
Tuar Fataka Medium-New 11,800-12,300 11,800-12,300
Tuar Dal Best Phod-New 11,500-12,000 11,500-12,000
Tuar Dal Medium phod-New 10,500-11,000 10,500-11,000
Tuar Gavarani New 7,450-7,950 7,450-7,950
Tuar Karnataka 8,150-8,450 8,150-8,450
Tuar Black 12,500-13,000 12,500-13,000
Masoor dal best 6,200-6,400 6,200-6,400
Masoor dal medium 5,800-6,000 5,800-6,000
Masoor n.a. n.a.
Moong Mogar bold (New) 9,600-10,000 9,600-10,000
Moong Mogar Med 8,900-9,300 8,900-9,300
Moong dal Chilka 7,800-8,800 7,800-8,800
Moong Mill quality n.a. n.a.
Moong Chamki best 8,600-8,800 8,600-8,800
Udid Mogar best (100 INR/KG) (New) 16,100-17,000 16,100-17,000
Udid Mogar Medium (100 INR/KG) 13,500-14,500 13,500-14,500
Udid Dal Black (100 INR/KG) 9,700-9,900 9,700-9,900
Batri dal (100 INR/KG) 5,500-5,850 5,500-5,850
Lakhodi dal (100 INR/kg) 4,450-4,650 4,400-4,600
Watana Dal (100 INR/KG) 3,300-3,450 3,250-3,400
Watana White (100 INR/KG) 3,000-3,200 3,000-3,200
Watana Green Best (100 INR/KG) 3,100-3,600 3,100-3,600
Wheat 308 (100 INR/KG) 1,700-1,800 1,700-1,800
Wheat Mill quality (100 INR/KG) 1,700-1,800 1,700-1,800
Wheat Filter (100 INR/KG) 1,650-1,850 1,650-1,850
Wheat Lokwan best (100 INR/KG) 2,200-2,500 2,100-2,500
Wheat Lokwan medium (100 INR/KG) 2,000-2,100 1,950-2,250
Lokwan Hath Binar (100 INR/KG) n.a. n.a.
MP Sharbati Best (100 INR/KG) 3,200-3,600 3,200-3,600
MP Sharbati Medium (100 INR/KG) 2,500-3,000 1,500-3,000
Rice BPT best New(100 INR/KG) 2,600-2,800 2,600-2,800
Rice BPT medium (100 INR/KG) 2,000-2,250 2,000-2,200
Rice Parmal (100 INR/KG) 1,800-2,000 1,800-2,000
Rice Swarna best (100 INR/KG) 2,100-2,450 2,100-2,450
Rice Swarna medium (100 INR/KG) 1,800-2,000 1,800-2,000
Rice HMT best New (100 INR/KG) 3,000-3,500 3,000-3,500
Rice HMT medium (100 INR/KG) 2,400-2,800 2,400-2,800
Rice Shriram best New(100 INR/KG) 4,100-4,400 4,100-4,400
Rice Shriram med New(100 INR/KG) 3,700-4,100 3,700-4,100
Rice Basmati best (100 INR/KG) 9,700-11,500 9,700-11,500
Rice Basmati Medium (100 INR/KG) 7,600-8,000 7,600-8,000
Rice Chinnor best New(100 INR/KG) 4,700-4,800 4,700-4,800
Rice Chinnor med. New (100 INR/KG) 4,200-4,400 4,200-4,400
Jowar Gavarani (100 INR/KG) 1,800-2,100 1,800-2,100
Jowar CH-5 (100 INR/KG) 1,700-1,800 1,700-1,800
WEATHER (NAGPUR)
Maximum temp. 34.4 degree Celsius (93.9 degree Fahrenheit), minimum temp.
14.4 degree Celsius (57.9 degree Fahrenheit)
Humidity: Highest - n.a., lowest - n.a.
Rainfall : n.a.
FORECAST: Mainly clear sky. Maximum and minimum temperature would be around and 34 and 14 degree
Celsius respectively.
Note: n.a.--not available
(For oils, transport costs are excluded from plant delivery prices, but
included in market prices.)
http://in.reuters.com/article/nagpur-foodgrain-idINL3N15R27H
http://www.bangkokpost.com/news/politics/859536/state-panel-clears-rice-scheme-of-damages
Give Pakistani
rice the Basmati tag
Rejection by India based on some petty
procedural grounds seems unfair Business Standard Editorial Comment | New
Delhi February 11, 2016 Last Updated at 21:41 IST
Mindshare is prime property'We need to strike a
balance in the SEP wars'Govt to unveil new IPR policy within two monthsHoly
books, gods cannot be trademarksCopycats come under Amul fire
Strangely enough, it has taken India nearly
seven years to properly initiate the process to protect Basmati rice. This
premium, scented variety of rice deserves Geographic Indication (GI) status
under the global intellectual property rights (IPR) regime. Indeed, this
process is long overdue, given bids by other countries to eat into India's
market share by offering their products under similar-sounding brand names -
Kasmati, Jasmati and Taxmati being just some examples.
India's apex IPR regulator, the Intellectual
Property Appellate Board (IPAB), has now directed the Chennai-based Geographic
Indications Registry to formally attach GI tag to the Basmati rice grown in
specified areas of six northern states - Punjab, Haryana, Himachal Pradesh,
Uttarakhand and parts of Uttar Pradesh and Jammu and Kashmir. Claims from
Madhya Pradesh, Rajasthan and Odisha are still pending.
However, the IPAB has unwisely turned down the
application by the Lahore-based Basmati Growers Association for the GI tag for
some rice produced in Pakistan as well. This rejection, based on petty
procedural grounds, seems unfair. After all, Basmati grown along the Himalayan
foothills in that country possesses the same qualities as rice on the other
side of the border and deserves to be covered under the GI regime. The GI label
is issued under the TRIPs agreement for goods having unique characteristics
attributable to their geographical location. This mark is essential to maintain
exclusivity of local products in the international market. According to Article
22 of the TRIPs, unless a GI product is protected in the country of its origin,
there is no obligation for other countries to extend reciprocal protection.
Basmati vitally needs this tag; it is one of
India's major exports. In 2014-15, 3.7 million tonnes of Basmati rice worth
around Rs 27,600 crore were exported. What sets Basmati apart from other
aromatic rices is not only its unmatched aroma and taste but also the fact that
its grains, on cooking, elongate laterally without swelling up, and do not
stick to each other. Besides, the plants of true Basmati rice are highly
sensitive to factors like the duration of daytime, temperature and humidity during
their growing season. These conditions are found only in the tracts along the
Himalayan foothills.
Clearly, Pakistan also grows Basmati in the
same tracts and under the same agro-ecological conditions. The Basmati
producers' bodies of that country should, therefore, be given another chance to
file their claim for GI protection. Since Basmati is the common heritage of
both India and Pakistan, such a tag would be mutually beneficial to ward off
bio-piracy by third countries. Pakistan, in fact, should already have realised
this and joined hands with India in fighting litigation abroad even in the
past.
India, in any case, is in an advantageous
position. It already enjoys over a 60 per cent share in the global Basmati rice
market and is quite capable of retaining it through measures like quality
assurance and brand building. Much of Pakistan's Basmati rice exports, on the
other hand, is of unbranded grain shipped in bulk - which cannot compete with
well-established Indian brands. However, the GI tag applications from Madhya
Pradesh and other states on behalf of scented rice produced there should be
evaluated separately, based on the evidence that they can provide in support of
their claims
Business standard
1,500 Pak rice containers stuck up at Kenyan ports
February 12, 2016
LAHORE -
More than 1500 rice containers are stuck up at Kenyan customs clearance points
due to cancellation of licenses of two port yards.Rice Exporters Association of
Pakistan chairman Shafique Ch said that shipments made by the Pakistani
exporters had been stuck up at ‘Port of CFS’ and ‘Portside CFS’ in Kenya since
20th January, 2016 despite the fact that exporters had paid all local taxes and
duties.He said that approximately 1,500 containers, having about 37,500 metric
tons of rice worth $13 million were held at these two CFSs without any specific
reason.Shafique Ch asked the government of Pakistan to approach the Kenyan
authorities to press them to release hundreds of rice containers held at these
ports.
“The
REAP is also considering to send a delegation to Kenya to discuss the problems
faced by them,” said chairman of the Rice Exporters Association of Pakistan.He
also requested the High Commission of Pakistan, Kenya to intervene in the
matter and coordinate with the Kenyan authorities to expedite the matter and
resolve the problem of Pakistani rice exporters, so that Pakistani rice cargo
could be released on priority basis.Since Pakistan is one of the biggest
importers of tea from Kenya, we believe that pressure exerted by the government
of Pakistan and High Commission of Pakistan in Kenya will yield positive
results, he said.“In present case, importers are facing loss in the form of demurrage
bills as a result of which our potential business to Kenya will also be
suffered greatly.
Shafique
Ch said that Pakistan is one of the largest exporters of rice to Kenya, valuing
$188,326,419 in fiscal year 2015.He said that issues the importers are facing
in Kenya will have a negative effect on exporters in Pakistan in the form of
late payments which will lead to a slowdown in exports.“We hope that the
problem will be taken up by Pakistani government with Kenya.It is a national
issue and not anyone’s personal matter,” he said.
Rice being genetically modified from C3 to C4
plant
By Rich
Keller, Editor, Ag Professional February 12, 2016 | 8:16 am EST
A group
of scientists from 12 universities in eight countries is working to develop a
new strain of “hyperefficient, drought-resistant rice known as C4,” reported
Oscar Lopez in Newsweek.Around the world researchers are trying to
improve the productivity of all crops being grown for human food and livestock
feed, but improved rice could have the most impact on feeding a population of
more than 9 billion in 2050.
The
International Rice Research Institute says each hectare of land (2.5 acres) in
Asia produces food for about 27 people, but that hectare will have to feed 43
by 2050.Lopez goes through a scientific explanation about the difference
between C3 and C4 plants (rice grows with a C3 process and barley is a C4).
Lopez also writes about scientists expecting the weather cycle to cause more
drought and the weather to be less hospitable to conventional rice production.
Conversion
of rice from being a C3 to a C4 will result in genetically modified (GM) rice.
The scientists involved don’t see scientific development of C4 rice as being
much different than the evolution of other plants over time.A scientist is
quoted as explaining that GMO rice cannot be dismissed as a solution to feeding
the world because GMO rice will be safe to grow and consume and is definitely
better than no food at all. Also noted in the article is
conventional rice production’s negative influence on the earth’s atmosphere
because growing rice accounts for 20 percent of the global greenhouse gas of
methane.
http://www.agprofessional.com/news/rice-being-genetically-modified-c3-c4-plant
S. Korea to sell old rice for animal feed
2016/02/12 08:51
SEJONG, Feb. 12 (Yonhap) -- South Korea will sell old rice in
its stock to feed domestic animals to handle rising inventory and save money on
corn imports, the agriculture ministry said Friday.The Ministry of Agriculture,
Food and Rural Affairs said it will begin offering 99,000 tons of brown rice
harvested in 2012 to local distributors later this month.The rice will be sold
at 200 won (17 cent) per kilogram, which is slightly cheaper than the price of
alcohol beverages.Farms will be required to mix about 5 percent of rice into
the corn-based forage to pigs, cows and chickens.
The ministry said using rice as cattle feed will reduce growing
stockpile management expenses, about 1.4 billion won per 10,000 kilograms, and
cut costs on importing corn for farms.The government has been grappling with a
huge surplus of rice over the past years as Koreans eat less rice and more
bread. The state-controlled rice stockpile reached 1.9 million tons at the end
of 2015, according to ministry data.
http://english.yonhapnews.co.kr/business/2016/02/12/0501000000AEN20160212001600320.html
Rice Prices
as on : 12-02-2016 08:11:13 PM
Arrivals in tonnes;prices in Rs/quintal in domestic market.
|
Arrivals
|
Price
|
|||||
|
Current
|
%
change |
Season
cumulative |
Modal
|
Prev.
Modal |
Prev.Yr
%change |
|
|
Rice
|
||||||
|
Gadarpur(Utr)
|
1474.00
|
1.1
|
59101.00
|
1803
|
2155
|
3.03
|
|
Bharwari(UP)
|
400.00
|
-
|
880.00
|
1980
|
-
|
-
|
|
Etawah(UP)
|
360.00
|
2.86
|
14880.00
|
2250
|
2250
|
2.27
|
|
Bahraich(UP)
|
190.00
|
8.57
|
2457.50
|
2080
|
2075
|
0.24
|
|
Allahabad(UP)
|
170.00
|
-5.56
|
4750.00
|
2125
|
2125
|
3.66
|
|
Gondal(UP)
|
167.00
|
5.7
|
9709.10
|
2020
|
2020
|
-0.25
|
|
Pilibhit(UP)
|
140.00
|
-22.22
|
16238.00
|
2195
|
2190
|
-6.40
|
|
Lucknow(UP)
|
130.00
|
9.24
|
2672.00
|
2140
|
2150
|
-1.38
|
|
Mathabhanga(WB)
|
120.00
|
20
|
2220.00
|
1950
|
1950
|
-
|
|
Bareilly(UP)
|
114.00
|
5.07
|
5727.50
|
2200
|
2200
|
4.76
|
|
Basti(UP)
|
109.00
|
-11.74
|
3152.50
|
2060
|
2060
|
5.64
|
|
Ghaziabad(UP)
|
100.00
|
150
|
1490.00
|
2070
|
2065
|
-2.59
|
|
Kalipur(WB)
|
90.00
|
12.5
|
2686.00
|
2050
|
2050
|
-6.82
|
|
Siliguri(WB)
|
90.00
|
63.64
|
432.00
|
2600
|
2600
|
-
|
|
Dhing(ASM)
|
86.00
|
-1.15
|
1861.20
|
1800
|
1800
|
-
|
|
Achalda(UP)
|
76.50
|
-4.38
|
2346.50
|
2240
|
2240
|
2.75
|
|
P.O.
Uparhali Guwahati(ASM)
|
75.00
|
1.35
|
2056.00
|
2100
|
2100
|
-19.23
|
|
Thodupuzha(Ker)
|
70.00
|
NC
|
1260.00
|
2600
|
2600
|
6.12
|
|
Aligarh(UP)
|
70.00
|
-17.65
|
1495.00
|
2170
|
2160
|
14.21
|
|
Cachar(ASM)
|
60.00
|
200
|
1160.00
|
2700
|
2700
|
NC
|
|
Beldanga(WB)
|
60.00
|
-6.25
|
779.50
|
2275
|
2275
|
-12.50
|
|
Bishnupur(Bankura)(WB)
|
55.00
|
22.22
|
1455.00
|
1950
|
1950
|
-
|
|
Jorhat(ASM)
|
52.00
|
48.57
|
704.00
|
2800
|
2700
|
-
|
|
Lanka(ASM)
|
50.00
|
25
|
1625.00
|
1725
|
1725
|
-
|
|
Jaunpur(UP)
|
50.00
|
11.11
|
946.00
|
1950
|
1945
|
-
|
|
Nadia(WB)
|
50.00
|
NC
|
950.00
|
3200
|
3200
|
3.23
|
|
Samsi(WB)
|
50.00
|
NC
|
14510.00
|
2800
|
2800
|
-
|
|
Koderma(Jha)
|
49.00
|
25.64
|
295.00
|
3500
|
3600
|
NC
|
|
Kasimbazar(WB)
|
44.00
|
-2.22
|
878.00
|
2310
|
2290
|
-11.15
|
|
Dadri(UP)
|
40.00
|
14.29
|
1222.00
|
2070
|
2080
|
-2.59
|
|
Khatra(WB)
|
38.00
|
NC
|
571.00
|
2250
|
2250
|
-7.79
|
|
Balrampur(UP)
|
36.00
|
26.32
|
919.50
|
2070
|
2075
|
0.98
|
|
Taliamura(Tri)
|
35.00
|
16.67
|
208.00
|
2300
|
2250
|
-
|
|
Purulia(WB)
|
32.00
|
-20
|
1272.00
|
2200
|
2180
|
-8.33
|
|
Kolhapur(Laxmipuri)(Mah)
|
30.00
|
3.45
|
735.00
|
3000
|
3000
|
-
|
|
Balugaon(Ori)
|
30.00
|
50
|
215.00
|
3200
|
3100
|
6.67
|
|
Sirsa(UP)
|
27.50
|
14.58
|
219.50
|
2050
|
2025
|
-
|
|
Mirzapur(UP)
|
26.00
|
-7.14
|
859.00
|
1910
|
1915
|
1.60
|
|
Kondotty(Ker)
|
25.00
|
NC
|
50.00
|
2700
|
2800
|
-
|
|
Jasra(UP)
|
25.00
|
38.89
|
243.00
|
2075
|
2075
|
3.75
|
|
Haldibari(WB)
|
25.00
|
-16.67
|
466.50
|
2350
|
2400
|
-9.62
|
|
Ramkrishanpur(Howrah)(WB)
|
25.00
|
NC
|
649.40
|
2300
|
2300
|
-11.54
|
|
Dahod(Guj)
|
24.50
|
-43.02
|
716.80
|
3900
|
3900
|
-8.24
|
|
Lohardaga(Jha)
|
24.00
|
-9.43
|
419.50
|
1950
|
1950
|
10.48
|
|
Alipurduar(WB)
|
18.00
|
NC
|
197.00
|
2200
|
2200
|
-
|
|
Bohorihat(ASM)
|
16.50
|
14.58
|
146.40
|
2000
|
2100
|
-13.98
|
|
Dibrugarh(ASM)
|
16.00
|
-13.51
|
586.80
|
2400
|
2400
|
-
|
|
Buland
Shahr(UP)
|
16.00
|
220
|
260.50
|
2040
|
2050
|
0.99
|
|
Champadanga(WB)
|
16.00
|
33.33
|
421.00
|
2350
|
2350
|
-12.96
|
|
Medinipur(West)(WB)
|
16.00
|
23.08
|
375.00
|
2450
|
2450
|
2.08
|
|
North
Lakhimpur(ASM)
|
14.30
|
60.67
|
798.20
|
1900
|
1900
|
-
|
|
Kannauj(UP)
|
12.50
|
-5.3
|
159.60
|
2180
|
2170
|
0.46
|
|
Palghar(Mah)
|
12.00
|
-50
|
414.00
|
2203
|
3980
|
-
|
|
Firozabad(UP)
|
12.00
|
-14.29
|
313.00
|
2110
|
2100
|
3.43
|
|
Chhibramau(Kannuj)(UP)
|
12.00
|
-17.24
|
209.00
|
2150
|
2120
|
NC
|
|
Etah(UP)
|
11.00
|
-8.33
|
49.00
|
1890
|
1880
|
-6.44
|
|
Naugarh(UP)
|
11.00
|
4.76
|
362.00
|
2060
|
2065
|
9.87
|
|
Raibareilly(UP)
|
10.50
|
50
|
188.00
|
2025
|
2020
|
1.76
|
|
Karimpur(WB)
|
10.00
|
233.33
|
40.00
|
3150
|
3150
|
NC
|
|
Chalakudy(Ker)
|
8.00
|
NC
|
60.00
|
2480
|
2600
|
-10.14
|
|
Bhivandi(Mah)
|
8.00
|
-11.11
|
158.00
|
2300
|
2250
|
35.29
|
|
Bhawanipatna(Ori)
|
6.50
|
-61.76
|
23.50
|
2200
|
2500
|
-
|
|
Chengannur(Ker)
|
6.00
|
-14.29
|
327.00
|
2450
|
2500
|
-15.52
|
|
Karanjia(Ori)
|
6.00
|
NC
|
156.80
|
2600
|
2600
|
4.00
|
|
Khairagarh(UP)
|
6.00
|
20
|
221.00
|
2090
|
2090
|
2.96
|
|
Muradabad(UP)
|
6.00
|
-40
|
315.50
|
2240
|
2230
|
13.42
|
|
Tanakpur(Utr)
|
6.00
|
-57.14
|
124.10
|
2100
|
2150
|
-2.33
|
|
Imphal(Man)
|
4.10
|
57.69
|
111.70
|
2900
|
2900
|
-
|
|
Hailakandi(ASM)
|
4.00
|
NC
|
79.00
|
2700
|
2700
|
NC
|
|
Bishenpur(Man)
|
3.20
|
NC
|
57.40
|
2500
|
2400
|
-7.41
|
|
Aroor(Ker)
|
3.00
|
NC
|
109.70
|
6900
|
6900
|
-25.81
|
|
Alibagh(Mah)
|
3.00
|
NC
|
72.00
|
3750
|
3750
|
134.38
|
|
Murud(Mah)
|
3.00
|
-97.06
|
156.00
|
2750
|
2750
|
71.88
|
|
Islampur(WB)
|
3.00
|
NC
|
164.20
|
2150
|
2150
|
-
|
|
Perinthalmanna(Ker)
|
2.90
|
NC
|
33.60
|
2600
|
2600
|
-
|
|
Darjeeling(WB)
|
2.60
|
8.33
|
41.70
|
2800
|
2800
|
3.70
|
|
Karsiyang(Matigara)(WB)
|
2.40
|
-4
|
38.80
|
2600
|
2600
|
-
|
|
Bonai(Bonai)(Ori)
|
2.00
|
-33.33
|
42.10
|
2000
|
2000
|
-9.09
|
|
Lamlong
Bazaar(Man)
|
1.80
|
12.5
|
37.90
|
2700
|
2700
|
-6.90
|
|
Jowai(Meh)
|
1.70
|
NC
|
5.80
|
2700
|
2700
|
-3.57
|
|
Siyana(UP)
|
1.50
|
-25
|
50.00
|
2055
|
2050
|
1.73
|
|
Shillong(Meh)
|
1.20
|
100
|
31.10
|
3500
|
3500
|
NC
|
|
Chorichora(UP)
|
0.90
|
-10
|
261.90
|
2100
|
2125
|
7.14
|
|
Kalimpong(WB)
|
0.80
|
-42.86
|
15.80
|
2450
|
2450
|
-12.50
|
http://www.thehindubusinessline.com/economy/agri-business/article8227284.ece
02/12/2016 Farm Bureau Market Report
Rice
|
High
|
Low
|
|
|
Long
Grain Cash Bids
|
- - -
|
- - -
|
|
Long
Grain New Crop
|
- - -
|
- - -
|
|
|
||
|
Futures:
|
   |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rice Comment
Rice futures continued lower today, despite a better export
report this week. USDA says 53,000 metric tons were sold to foreign buyers this
week, compared with only 40,200 metric tons last week. The monthly
supply/demand balance sheet was little changed, but the on-farm price was
lowered again. The average expected price for long grain is now
$11.00-$11.60/cwt, and mid-south medium grain is expected to bring
$11.70-$12.30. March has been working lower and is set up for a retest of the
recent low of $10.65.
February 10, 2016
KARACHI: The State Bank of Pakistan
(SBP), together with the World Bank and the United Nations, launched the
"Universal Financial Access Initiative", on Tuesday.The event was
held to secure public and private sector commitments to achieve universal
financial inclusion in Pakistan as envisaged under the National Financial
Inclusion Strategy (NFIS), said a statement issued by the central bank.
The event was attended by Queen Maxima of The Netherlands who is
also UN Secretary-General’s Special Advocate for Inclusive Finance for
Development (UNSGSA), President World Bank Group Dr Jim Yong Kim, Finance
Minister Ishaq Dar, and State Bank of Pakistan Governor Ashraf Mahmood Wathra.Queen
Maxima, while appreciating the efforts of Pakistan for improving financial
inclusion remarked, “Today, Pakistan’s commitment to financial inclusion moves
to a new level of action guided by the recently adopted National Financial
Inclusion Strategy, supported by government and private-sector commitments, and
with the backing of the World Bank Group, Pakistan is prepared to take flight.”She
said that “thanks to the committed work of many, Pakistan has built one of the
strongest foundations for financial inclusion in the world.
New regulations have supported the emergence of branchless banking,
a growing microfinance sector, effective payments systems and a more
constructive approach to customer identification.Speaking on the occasion the
Finance Minister said, “Government’s development policy agenda is based on the
principle of inclusive economic growth so that the benefits are shared across
all segments of the society.”He termed Financial Inclusion as a critical enabler
for achieving inclusive economic growth.In his address of welcome, while
highlighting the efforts of SBP, Governor Ashraf Mahmood Wathra shared that
access to financial services has improved from 12 percent of population in 2008
to 23 percent in 2015.
He said, “Universal Financial Access initiative, under the umbrella
of the UN, the World Bank and the government, will accelerate this pace and
serve as a catalyst for improving socio-economic conditions and poverty
alleviation.”Pakistan Banks’ Association (PBA) Chairman Muhammad Aftab Manzoor
on behalf of the banking and microfinance sector pledged full support in
reaching out to public and achieving targets set under the NFIS.PBA pledged to
increase access to M-wallet accounts to 50 percent of the adults, including 25
percent of female population and increasing other financial services to micro
and small businesses by 2020.In addition, he pledged that banking sector will
partner with SBP to enhance financial awareness and literacy under CSR
initiatives.In his concluding remarks the Deputy Governor, Saeed Ahmed, said
that financial inclusion would help in strengthening financial stability and
lead to poverty alleviation in the country.
The event was also attended by federal ministers, diplomats,
federal and provincial secretaries, representatives of development agencies,
presidents of banks and other dignitaries.Earlier in the morning, Queen Maxima
met SBP Governor Ashraf Mahmood Wathra to discuss ways and means to enhance
financial inclusion in Pakistan.
The governor apprised her on SBP’s financial inclusion initiatives
and shared that SBP was driving the agenda from the front and had made it one
of its strategic goals.He thanked HM for personal commitment and pushing
forward the agenda of financial inclusion as a means for achieving inclusive
development.
http://www.thenews.com.pk/print/97124-State-Bank-launches-universal-financial-access-initiative#sthash.Pjtx6Ihk.hpvt
USA Rice Video Exclusive
USA Rice caught
up with Congressman Ted Poe (R-TX) this week to talk about U.S. food aid
programs. Specifically, the fact that rice use in the programs has been
declining and the Obama Administration seems to favor cash over in-kind
contributions. Congressman Poe joined
other rice state lawmakers last week to submit a request that USDA and USAID
use U.S. rice in emergency refugee relief efforts.
Click here to watch the short video. https://www.youtube.com/watch?v=glVXYAp9Uio
Mississippi Rice Council Meets
By Chuck Wilson
CLEVELAND, MS - USA Rice President and CEO Betsy Ward
discussed trade prospects in key export markets at the Mississippi Rice Council
Annual Meeting on
Thursday. Ward pointed to the Colombia FTA as an
example of how powerful and beneficial good, common-sense trade agreements can
be. "Not only did we create a new market for our rice, but the benefits
are spread throughout the rice industry, funding important industry research
that helps us improve the quality, sustainability, and marketability of our
rice," she said. Mississippi rice research has received over $2
million dollars since the agreement was signed.
In addition to trade, Ward shared highlights of the
domestic promotion programs with the group.
USA
Rice Vice President of Government Affairs Ben Mosely reported that with the
presidential election season, the closing months of the Obama Administration,
and a relatively light legislative calendar for Congress there is little chance
of major policy initiatives moving forward in Washington. Mosely also talked
about opportunities for rice in Cuba, USA Rice's efforts to combat illegal rice
subsidies for rice producers in other countries, and the need to continue to
protect the farm bill from attacks in the budgetary process.
Bobby
Golden with Mississippi State University gave the rice research report and
projections for the coming rice crop and Michael Ledlow gave the Mississippi
Plant Board report focusing on looming worker protection laws that could
greatly impact farm operations."The meeting was a total success with
informative reports from the top leadership of USA Rice regarding the future of
the rice industry," said Curtis Berry, Mississippi Rice Council President.
USA Rice Participates in ASU Agribusiness Conference
By Colleen Klemczewski
JONESBORO, AR -
Arkansas State University held the 22nd annual Agribusiness Conference here
earlier this week with the support of USA Rice and several industry
members. USA Rice COO Bob Cummings
joined other speakers in presenting information important to agriculture in
Arkansas and the Mid-South. "It was
an honor to return to the Agribusiness Conference and discuss the key trade
challenges and opportunities facing the rice industry today," said
Cummings. "The conference
presentations on succession and estate planning, environmental law and
regulation, ag. financing, and commodity reviews were first rate."
Cummings
discussed USA Rice's ongoing efforts to develop new demand and market access
for U.S. rice in international markets, with a current focus on China,
Colombia, Iraq, and Mexico. He also
reviewed the pros and cons for rice of the recently concluded Trans Pacific
Partnership trade agreement as well as the importance of the ongoing
negotiations with the European Union in the Trans-Atlantic Trade and Investment
Partnership.
The conference
is organized by Dr. Bert Greenwalt of the College of Agriculture and
Technology, and is supported by a broad cross section of Arkansas
agriculture. "USA Rice has been a
proud sponsor of this conference for seventeen years, which brings together
expertise important to agriculture and related businesses in Arkansas,"
said Chuck Wilson of USA Rice.
Link
to CME Group Survey
All members of the rice industry, particularly those with interest
in the rice futures market, are encouraged to complete the CME Group survey
found here https://cmeg.co1.qualtrics.com/jfe/form/SV_86WBqXz373PWewJ
https://cmeg.co1.qualtrics.com/jfe/form/SV_86WBqXz373PWewJ
