22nd February 2016 Daily Global Rice E-Newsletter by Riceplus Magazine-Latest Rice News Updates

Pak-Iran trade hostage to failed trade diplomacy: PBIF

INP

February 20, 2016

KARACHI: Pakistan Businessmen and Intellectuals Forum (PBIF) on Friday said Pakistan and Iran could become important trading partners for which serious efforts are needed.
Gas import deal that was to bring a revolution in the Pakistan's energy market is still under sanctions, therefore the two countries should ink new energy deals, it said.Bilateral trade, which was once $1 billion, has now come down to $128 million despite the agreement between both countries to boost trade to $5 billion, said PBIF President Mian Zahid Hussain. He said that sliding exports reflects the failure of trade diplomacy on the part of Pakistani authorities despite the fact that Pakistani rice, fruit, vegetable, sports goods and IT services are in demand in the neighbouring nations.

Hussain said that the government as well as private sector should initiate efforts to boost trade, which include opening of banking channels that are currently under sanctions and improved transport infrastructure.

http://www.dailytimes.com.pk/business/20-Feb-2016/pak-iran-trade-hostage-to-failed-trade-diplomacy-pbif

 

Writ Plea from Madhya Pradesh Seeks Quashing of IPAB Order on Basmati Rice

By Siva Sekaran

Published: 18th February 2016 04:01 AM

Last Updated: 18th February 2016 04:01 AM

CHENNAI: The State of Madhya Pradesh, through its Additional Director of Agriculture, has moved the Madras High Court with a writ petition seeking quashing of an order, dated February 5, 2016, of the City-based Intellectual Property Appellate Board (IPAB).The February 5 order, among other things, held that the Agricultural and Processed Food Products Export Development Authority (APEDA), a statutory body in New Delhi, is entitled to get Geographical Indications (GI) tag for Basmati rice in respect of the area and region specified in the certified copies of the maps annexed with its GI application No 145 and consequently, the Assistant Registrar, GI Registry, Chennai, shall proceed with the registration and issue the certificate of registration within four weeks.The writ petition came up before the first bench of Chief Justice SK Kaul and Justice MM Sundresh on Wednesday.

The bench ordered notice to the IPAB, APEDA, Assistant Registrar of GI and others. It also directed that, till a decision is taken on the writ petition, no precipitating action will be taken by APEDA in respect of the produce from the State of Madhya Pradesh quo the existing areas where such rice is alleged to have been growing.Petitioner’s senior counsel submitted that the issue of inclusion of certain areas of MP as Basmati rice growing areas would have to be examined by the Assistant Registrar of Geographical Indications in view of the impugned order of the Intellectual Property Appellate Board (IPAB) and there were already directions to conclude that aspect within six months.

The issue which is sought to be raised before the Bench, as per the submissions made, is that certain States have been included in toto, while actually what should have been included was certain specified areas of those States where the cultivation of Basmati rice goes on. It is the counsel’s contention that such a plea was not capable of being raised in the proceedings before the Assistant Registrar of GI and can be raised before this court as a consequent of the impugned order.

APEDA senior counsel stated that the petitioner never assailed the earlier order of the Assistant Registrar of GI dated December 31, 2013 and had thus lost the right to raise the issue as otherwise they could always raise it before the Assistant Registrar of GI, subject to the meeting of the terms and conditions required for raising such an objection.The aforesaid is the limited controversy which will have to be examined by this court as agreed to by both the sides. Let counters be filed by the parties to the case restricting to the aforesaid aspects within three weeks, the bench said. Rejoinder if any be filed within two weeks thereafter, the bench added and posted the matter for April 5

The  Indian Express

Is Iran’s Comeback a Double-Edged Sword for India?

Iran’s reengagement promises both more opportunity and more competition for India.

By Soyen Park

February 21, 2016

Since 2014, buoyed by the economic pitch of Prime Minister Narendra Modi, India has been in the global economic spotlight. In 2016, however, at least some of the focus will shift to Iran, as it rejoins the global economy following the lifting of sanctions. What does this new Iran really mean for India? As much as it can benefit from a more open Iran, India will also face some more serious competition, from both Iran and its potential partners.There is no doubt that India will benefit from cheaper commodity prices and an Iranian shopping spree.

With Iran boosting its oil production and exports amid a global supply glut, major crude oil importers like India will benefit immensely from the cheaper oil. For India, cheaper oil helps it to reduce its import bill, reducing trade and current account deficits. The Indian government has already taken the opportunity to hike excise duties on fuels, which are expected to yield additional government revenue at a time of fiscal consolidation.

But Iran’s comeback means more than just cheaper oil and better fiscal position. Besides agro and allied products, which have been India’s biggest exports to Iran, exports of Indian pharmaceuticals, IT, commodities, and general goods are all expected to increase. The Indian government is moving swiftly to expand trade ties with Iran. During the second meeting of the Joint Working Group on Trade and Commerce in November 2015, Iran and India agreed “to open up a channel for exchange of information” to start preliminary consultations for a preferential trade agreement (PTA).Indian companies are also expected to play a greater role in Iran’s infrastructure projects.

In fact, Iran hasasked India to invest $8 billion in infrastructure projects, particularly in connectivity plans. India has already signed a memorandum of understanding with Iran to develop the strategic Chabahar port and pledged to invest about $85 million. India is also keen to develop Iran’s railways, participating in the Chahbahar-Zahedan-Mashhad railway line as well as supplying rail tracks, rolling stock, signaling and other equipment.Energy is another area where India is seeking for greater access. During the 18th session of the India-Iran Joint Commission in December 2015, External Affairs Minister Sushma Swaraj conveyed India’s interest in exploring Iranian oil and gas blocks and asked Iran to allow India to develop Farzad-B gas field, which was discovered by a consortium of Indian companies in 2008.

More Competition

Despite the much-hyped expectations of opportunities in post-sanctions Iran, India is likely to face more competition in engaging with Iran. During sanctions, India was one of the few countries that continued trade links with Iran. Food, pharmaceuticals and medical equipment were explicitly excluded under the sanctions, and Iran imported basmati rice, sugar, soymeal, corn and other products from India, whose exports to Iran almost doubled in the years since 2011. With the sanctions lifted, however, Iran now has more options for both its exports and its imports – all major exporting countries are keen to tap the Iranian market. China moved first when President Xi Jinping visited Iran last month to expand trade and strengthen ties. On February 15, a cargo train from China arrived in Tehran in an attempt to revive the ancient Silk Road. This will only buttress Iran’s geostrategic position.

Competing with others in the Iranian market is not the only concern. India now will have to compete with Iran itself for foreign investment. Less than two weeks after sanctions were lifted, Iranian President Hassan Rouhani signed megadeals worth billions during his state visit to Europe. Iran now expects to attract up to $50 billion in foreign investment and finance in the next fiscal year, which begins on March 20.

The upsurge of global interest in the Iranian market is clearly evident. China and Europe are already racing to get a slice of the pie. A bilateral investment pact between Japan and Iran was signed early this month, while Joint Economic Committee meeting between Iran and South Korea will be held tomorrow with the expectation of signing more than 15 agreements. With Iran emerging as the next frontier for investment, India is no longer a sure thing to remain the world’s most favored investment destination when U.S. primary sanctions against Iran are lifted.Iran’s reengagement with the world certainly promises great opportunities to India. However, India is not the sole beneficiary, and New Delhi will need to consider its strategy carefully.

Dr. Soyen Park is a South Korean national, currently living in New Delhi where she works as a researcher on the Indian economy.

Trilochan Mohapatra is now Secy, ICAR

 

Staff Reporter, New Delhi
20/02/2016   

 

Trilochan Mohapatra, Director-cum-vice Chancellor, IARI, ICAR, New Delhi, has been appointed as Secretary, Department of Agri Research & Education-cum-Director General in the Indian Council of Agricultural Research. In August 2015, Mohapatra was appointed as Director of the Indian Agricultural Research Institute (IARI), which played a major role in the country's Green Revolution after remaining headless for more than a year.

 Mohapatra, previously also headed Odisha-based Central Rice Research Institute, Bureaucracy Today has learnt.  Mohapatra, who has been working in the area of molecular genetics and genomics, has published over 145 research papers in national and international journals of repute.He has developed the first high-yielding basmati rice variety resistant to bacterial sequencing of rice and tomato.

https://bureaucracytoday.com/top_news.aspx?id=154042

 

Korean researchers find black rice helps reduce body fat

 

Updated: 2016-02-22 14:03:36 KST

More people are eating different types of rice for a healthy lifestyle.Black rice contains one of the highest levels of anthocyanin antioxidants, which act as anti-cancer agents.The rice is also good for anti-aging and prevention against various diseases.And according to research, black rice also fights against obesity.Substances found in the outermost layer of black rice, including anthocyanin, inhibit lipogenesis and fat absorption.The researchers fed ten out of 20 mice with black rice extract for three months.

Compared to the control group, the mice that were fed the extract saw a nearly 26 percent reduction in obesity index and a 27.five percent reduction in abdominal fat. Their blood cholesterol was also reduced by ten.five percent.Post-menopausal women who took black rice extract capsules for 12 weeks also saw a more than five-percent reduction in abdominal fat.Korea's Rural Development Administration will transfer its extraction technology of black rice to companies, which will produce medicines and various health products.
Park Se-young, Arirang News.

Reporter :

http://www.arirang.co.kr/News/News_View.asp?nseq=188470

Nigeria spends $1.8b yearly on rice import, says Dangote

Posted By: Okwy Iroegbu-Chikezieon: February 22, 2016

Launches Rice Outgrowers Scheme

Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote has lamented that Nigeria spends nearly $1.8billion per year importing (approximately 3.2 million) metric tons of rice to feed its population.He said this huge foreign exchange (forex) would have been used on more impactful social development interventions if they were not needed for food imports.Speaking during the launch of the Dangote Rice Outgrowers Scheme in Jigawa State at the weekend, he  said the nation’s  agricultural commodities and food imports bills averaged over N1trillion in 2013 and 2014, with foods such as sugar, wheat, rice, fish accounting for 93 per cent of the total cost of imports

He described the situation as unacceptable for anyone who loves the country. To check the the unncessary waste of forex on food importation, the Dangote Group has made investment in the agrci sector to create jobs and assure food security in the country.The Rice Outgrowers Scheme was launched in Hadejia, Kafin-Hausa Local Government Area of Jigawa State.Starting with 20,000 hectares of rice cultivation to be expanded to cover 800, 000 hectares over the next three years, Dangote said there was no better time than now to turn to agriculture to save the  economy.
The scheme started  with the distribution of treated rice seedling for planting to some 5000 farmers.He said: “We are committed to the development of outgrower scheme by providing local, value added products and services that meet the ‘basic needs’ of the populace. To this end, the Dangote Rice Farm Ltd, will run an initial pilot in Hago-Fadama, Kafin Hausa and Auyo areas which would see Dangote Rice developing small hold farmers by providing quality inputs (certified seeds, fertiliser, agro-chemicals and petrol), improved agricultural practices and technology to increase yield and produce quality rice paddy which would also be bought back from them by Dangote Rice Limited.
“The programme in Jigawa State is expected to create more than 10,000 direct and indirect jobs to the host communities.”Aside the outgrowers aspect of the investment, he said Dangote Rice is planning to plant approximately 150,000 hectares  of long grain white rice and produce near one million tons of high quality par boiled white rice for sale into the market.Furthermore, he said the internal policy within Dangote Rice Ltd is to procure 30 per cent of rice production from local farmers who will be developed into outgrower groups. According to him these outgrowers will be simultaneously developed alongside the company’s commercial farming operations.
Dangote said before the discovery of oil, the economy was built around potentials from palm oil, ground nut, cotton, and rubber plantations. “Now the price of oil has plummeted from a peak of $116 per barrel in June 2014 to as low as $29 per barrel in January this year. This means there is huge loss of revenue to the government,” he said.Currently the average yield of rice in the country is between 1.8 to 2.5  metric tone per hectare (MT/ha), depending on the region and the crop (wet or dry) and with or without irrigation 1.8 MT/ha, which is significantly lower than the best practice yields in Africa of 9.2 MT/ha generated in Egypt. Locally produced rice is more expensive than imported rice due to the high cost of production relative to the low yields in the country because of poor agronomic practices.

In addition, the Federal Government has implemented policy incentives that encourage investment in domestic rice production and milling.Dangote disclosed that the Dangote Rice Outgrowers Scheme was designed as a one stop solution for the rice value chain.In his remark during the rice seedling distribution, Minister of State for Agriculture, Senator Heneiken Lokpobiri lauded the initiative of Dangote, saying the intervention in the government efforts at providing food security for the citizenry, creating jobs and reducing dependence on food importation is appreciated by being boosted.According to him, so much forex is spent on importation of food items that could be produced locally.

While expressing the government readiness to provide all the needed support to make the Dangote Rice Outgrowers Scheme a success, the minister said the government is putting in place a strategy that will make farmers have greater access to farm implements to help them produce with ease.Also speaking the Special Adviser to Alhaji Dangote on Rice and Coordinator of the Outgrowers Scheme, Mr. Lulu Carlos explained that 6.1million metric tone (mmt) of rice is consumed annually but not more than 2.6 million metric tons are produced locally leaving the rest to importation.Lulu said: “We are happy to start today the partnership with the First Out Growers bloc of 200 hectares, shared among 8 communities. I have seen the same project grow in my country, Brazil, whereby from 2.5 Mt tons in the beginning to today where we reached 9 tons of paddy rice per hectare in productivity.

“This has transformed our country (Brazil), from a net importer of Rice in the year 2000 to a neýt exporter in the year of 2009.   This was achieved through a big out grower scheme in the rice region, which today involves thousands of independent farmers responsible for 80 per cent of the 12 million tons locally produced rice and a small number of large Commercial farms supplying the remaining 20 per cent.“Also, Alhaji Aliko, has   instructed me to conduct the project here for at least 30 per cent from out growers and 70 per cent from our commercial farm to be established in the state. But this is not our limit. We are today convinced that this equation will have more and more out growers participation in the future, due to very good and welcome response we are getting from all the communities we are dealing with.

“We are bringing to the people top quality seeds, fertilizers and chemicals as well the training and teaching the best and most modern agriculturalý practices, to enable you to boost your productivity and quality of your rice. We are also committed to roll out the scheme to cover another 1,000 hectares for the coming rainy season in June / July, using the experience of this 1st plot to guide our progress.”

The Jigawa State governor, Alhaji Badaru Muhammed Abubakar thanked the Dangote Rice Limited for choosing Jigawa as the pilot state for the project. He pledged the readiness of his administration to provide all necessary support to the project.He said, the project was part of his government’s commitment to improve agriculture and industrialize the state for job creation and poverty eradication.

“Right from my inaugural speech, I made it clear that, agriculture was one of my government cardinal points and we are ready to collaborate with private investors in achieving the desire goals.“The project we are launching today is one of the numerous projects we intend to embark in collaboration with private investors from within and outside the country and we have already signed memorandum with many of them,” the governor said.The governor then assured Dangote Group of the state government’s support in making any policy and intervention that will make the investment profitable and generate jobs for the teeming population of the state.

http://thenationonlineng.net/nigeria-spends-1-8b-yearly-on-rice-import-says-dangote/

Aurora’s festival puts the spotlight on brown rice

Eight of the best suman makers in Aurora competed during the Farmers’ Day, in what was to be their first official attempt at using unpolished or “brown” rice in creating the best tasting suman, 15 February."Every year, the local government holds a Pinaka Contest. This 2016, we are holding the Pinakamasarap na Brown Rice Suman as suman is one of the most sought-after delicacy  that visitors and tourists buy in Aurora. It is also in response to the call of the Department of Agriculture (DA) to eat brown rice," said Venecia B. Estacio, focal person for organic agriculture and high value crops.

Suman is a steamed rice cake wrapped in fresh coconut palm or banana leaves. A native delicacy made with glutinous rice, coconut milk, sugar, and salt, suman has become a staple in typical Filipino fiestas."In our promotion of organic farming, we have heard farmers and non-farmers alike express their growing concern for their diet and health. We also note that their awareness and demand for pinawa or brown rice is increasing. Hence, the twist in our suman-making contest, "Estacio added.

Brown rice is the common term for the whole grain form of any kind of rice. It still has the bran, the part that is removed during polishing to make rice white.  Thus, its brown color. Because of the bran, brown or unpolished rice has more protein, dietary fiber, minerals, antioxidants, B vitamins, and vitamin E compared to white rice.“We want to make Filipino rice consumers healthier through the promotion of unpolished or brown rice. Since Filipinos also eat rice during snacks, we also want to develop and promote rice-based food products made of brown rice. Hence, the event,” explained Hazel V. Antonio, Be RICEponsible campaign director.

The Be RICEponsible Campaign of DA, has since 2014, been raising awareness as well as improving the consumption and production of brown rice in the Philippines. The promotion of brown rice is one of its pillar messages in making Filipinos responsible rice consumers."Junk foods are sold almost everywhere. We need to promote healthier alternatives to these like brown rice suman for snack and breakfast to nourish our children [and people] better," said Eleanor De Mesa-Olivar, tourism officer and co-chair of the Suman House exhibit.Farmers' associations and rural improvement clubs from the eight municipalities of Aurora joined the contest: Baler, Casiguran, Dilasag, Dinalungan, Dingalan, Dipaculao, Maria Aurora, and San Luis. San Luis' milky soft suman bagged first place, taking home P10,000, followed by the latik-laden entry of Maria Aurora with P7,000, and the cheesy variant of Baler with P5,000.

Reviving lost tradition

The recently erected mini Suman House, a two-storey wooden hut decked with colorful suman-shaped decorations and other indigenous embellishments reminiscent of the Pahiyas of Quezon province, served as the venue for the taste off."We are pouring efforts to showcase Aurora's suman-making heritage not just for the sake of marketing but to inspire community participation in helping revive the Suman Festival, which we last held in 2004," Olivar added.From 1997 to 2004, Aurora is home to the grand celebration of the Suman Festival, which also coincides with the province's founding anniversary.

It is believed that the suman of Aurora started even before the Japanese came. Travelers from Nueva Ecija and Manila, journey from three to five days by walking or riding on a horse. This long journey entailed extra work like bringing food that would keep them full while traveling. This triggered the preparation of suman, which was easy to bring and less perishable.

Healthier, taste even better

"All the pinawa suman tasted so good that you can hardly say that the makers used unpolished rice. I think they even tasted better than all the suman (made with polished rice) I have ever tasted," remarked Antonio.Lydia Amatorio, a contestant from Baler, said that although pinawa required more time to cook, it has a natural flavor that makes the resulting product taste better than that made with polished glutinous rice.

"The secret to making a milky rich and soft suman is in the soaking and amount of coconut milk used," Melba Eberio, the master cook from the winning San Luis team."If unpolished glutinous rice will become accessible, it is possible for us to use it regularly for our suman," Eberio added.Meanwhile, suman maker Josie Mambalo of Brgy. Suguit, Maria Aurora has already begun selling brown rice suman to her clients on a made-to-order basis since their cooperative acquired a brown rice milling unit in 2015.The Pinakamasarap na Brown Rice Suman Contest was organized by the local government of Aurora in partnership with the Be RICEponsible Campaign of DA.

International Benchmark Price

Price on: 19-02-2016

Product Benchmark Indicators Name Price Apricots 1 Turkish No. 2 whole pitted, CIF UK (USD/t) 4625 2 Turkish No. 4 whole pitted, CIF UK (USD/t) 4125 3 Turkish size 8, CIF UK (USD/t) 3625 Raisins 1 Californian Thompson seedless raisins, CIF UK (USD/t) 2306 2 South African Thompson seedless raisins, CIF UK (USD/t) 2153 Sultanas 1 Australian 5 Crown, CIF UK (USD/t) 2754 2 South African Orange River, CIF UK (USD/t) 2752 3 Turkish No 9 standard, FOB Izmir (USD/t) 1950 Source:agra-net For more info

Market Watch Commodity-wise, Market-wise Daily Price on 20-02-2016 Domestic Prices Unit Price : Rs per Qty Product Market Center Variety Min Price Max Price Maize 1 Davangere (Karnataka) Local 1340 1400 2 Kopargaon (Maharashtra) Other 1330 1414 3 Derol (Gujarat) Other 1460 1470 Paddy(Dhan) 1 Kasargod (Kerala) Other 1450 1550 2 Aheri (Maharashtra) Other 1450 1450 3 Dehgam (Gujarat) Other 1350 1380 Mousambi 1 Thirurrangadi (Kerala) Other 3500 3700 2 Taura (Haryana) Other 2000 2000 3 Sultanpur (Uttar Pradesh) Other 2300 2400 Onion 1 Kannur (Kerala) Other 1500 1600 2 Palitana (Gujarat) Other 500 675 3 Barnala (Punjab) Other 800 1100 Source:agmarknet.nic.in For more info

Egg Rs per 100 No Price on 20-02-2016 Product Market Center Price 1 Ahmedabad 360 2 Chittoor 378 3 Nagapur 323 Source: e2necc.com

Other International Prices Unit Price : US$ per package Price on 18-02-2016 Product Market Center Origin Variety Low High Onions Dry Package: 40 lb cartons 1 Atlanta Peru Yellow 23 24.50 2 Baltimore Peru Yellow 22 23 3 Chicago Nevada Yellow 34.50 34.50 Cauliflower Package: cartons film wrapped 1 Atlanta California White 24 26.50 2 Dallas California White 26.50 27.50 3 Philadelphia Arizona White 23 24 Grapes Package:18 lb containers bagged 1 Atlanta Peru Red Globe 26 28.50 2 Chicago Peru Red Globe 23 25 3 Miami Chile Red Globe 22 26 Source:USDA

18th February,2016 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

FAO Estimates Bolivia 2015-16 Rice Imports to Decline on Record Production

Feb 17, 2016

The UN's Food and Agricultural Organization (FAO) estimates Bolivia's rice and other cereal imports to decline from high levels of the previous two years due to record production in 2015. It estimates 2015 total cereal imports, including rice to decline about 19% to around 476,000 tons from last year's 588,000 tons.

Bolivia's 2015 paddy rice production increased by about 25% to around 472,000 tons from around 378,000 tons in 2014, according to the FAO. It estimates 2015 total cereal production at around 2.63 million tons, up about 6% from last year's 2.47 million tons.

Bolivia’s 2015-16 rice crop (October - March) is likely to have reached harvesting stage currently

Scientists Aim to Develop Hyper-efficient Drought-Resistant Rice Variety

Feb 17, 2016

A group of scientists from twelve universities in eight countries are working to develop a new hyper-efficient, drought-resistant rice variety known as C4, according to Newsweek.

The scientists say normally rice plants exhibit C3 photosynthesis process, in which they take carbon dioxide (CO2) from the air and break it down and use the carbon molecules to form 3-phosphoglyceric acid (3-PGA). However, another molecule called ribulose-1,5-bisphosphate carboxylase/oxygenase (RuBisCO), which is supposed to facilitate the CO2 reaction, reacts with oxygen in the air and creates a toxic compound that reduces the plant's efficiency to make food. They say at hotter temperatures, RuBisCO interacts more with oxygen further reducing the plant's efficiency.

To address this problem, scientists say corn plants exhibit a C4 process in which "RuBisCO transforms CO2 into energy away from the leaf surface in specialized cells, called bundle sheath cells. This prevents RuBisCO from reacting with oxygen in the air and forces it to react only with CO2, allowing the photosynthetic process to operate at maximum efficiency." As stomata on the leaves remain closed during the photosynthesis process, plants don't lose much water through transpiration making them more drought-resistant.

Scientists are now working to replicate the C4 process in a rice plant so that it will have greater drought-resistance. “C4 plants have a better tolerance for periods of low water supply. With increased fluctuations in climate, we are going to need a crop that is more resistant. C4 could be the answer,” says a Professor of molecular physiology at Cambridge University.

Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Continue Higher as U.S. Grains Continue to be Supported by Rally in Crude

Feb 18, 2016

Chicago rough rice futures for Mar delivery settled 20 cents per cwt (about $4 per ton) higher at $11.040 per cwt (about $243 per ton). The other grains finished the day higher; Soybeans closed about 0.3% higher at $8.8525 per bushel; wheat finished about 1.2% higher at $4.7450 per bushel, and corn finished the day about 1% higher at $3.7150 per bushel.

U.S. stocks traded higher Wednesday, trying for a three-day win streak, helped by a rise in oil prices and some encouraging economic data ahead of the afternoon release of the Fed meeting minutes. The S&P 500 topped the psychologically key 1,900 level in intraday trade for the first time since Feb. 5 and came within 10% of its 52-week intraday high, out of correction territory on an intraday basis. Energy led advancers. U.S. crude oil futures surged more than 5.3% to near $30.60 a barrel after comments from the Iran oil minister raised hopes for the possibility of cooperation on an agreement to freeze production. Iran Oil Minister Bijan Zanganeh said he supports any effort to stabilize the market and prices, according to a Reuters report citing the Iranian oil ministry's official Shana news agency. The Iran oil minister also said in the report the Tehran oil producers meeting was good. Zanganeh did not explicitly say in his remarks quoted by Shana that Iran would keep its own output at its January level. In economic news, industrial production for January rose 0.9%, while capacity utilization was 77.1%.U.S. producer prices unexpectedly rose last month, rising 0.1% after falling 0.2% in December. Excluding food and energy, PPI rose 0.4%. Housing starts fell 3.8% in January, while building permits fell 0.2%.In afternoon trade, the Dow Jones industrial average gained 235 points, or 1.46%, to 16,431. The S&P 500 traded up 29 points, or 1.54%, to 1,924, with energy leading nine sectors higher and utilities the only decliner. The Nasdaq composite gained 90 points, or 2%, to 4,526. Gold is seen trading about 0.1% higher, crude oil is seen trading about 5.4% higher, and the U.S. dollar is seen trading about 0.1% lower at about  1:00pm Chicago time.

Tuesday, there were 2,658 contracts traded, up from 1,614 contracts traded on Friday. Open interest – the number of contracts outstanding – on Tuesday decreased by 92 contracts to 13,151. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

India's Basmati Rice Gets GI Certificate

Feb 17, 2016

India-based Geographical Indications (GI) registry granted the GI certification to India's basmati rice providing it a legal protection from other countries and companies from using the 'basmati' tag, according to the Financial Express.

The development came after the Chennai-based Intellectual Property Appellate Board (IPAB) ordered the GI registry to grant GI certificate to Indian basmati rice, which commands a premium in the international market. The Agricultural and Processed Food Products Export Development Authority (APEDA), which had applied for a legal protection for India's basmati rice grown in the Indio-Gangetic plains in 2009, has been recognized as the sole custodian of Indian basmati rice.

The IPAB has considered the basmati rice grown in the states of Punjab, Haryana, Himachal Pradesh, Delhi, Uttarakhand, Western UP and the two districts of Jammu and Kathua for the GI tag. It had sent back the petition for inclusion of India's Central state Madhya Pradesh to the Chennai-Registry.

A GI tag distinguishes a product with its geographic origin and, under a multilateral framework, prevents traders from attributing its name and traits for products from other geographies. According to official data, more than 237 Indian products have got GI certification for preserving their uniqueness

FAO Estimates Tanzania MY 2015-16 Rice Imports at 100,000 Tons

Feb 17, 2016

The UN's Food and Agricultural Organization (FAO) estimates Tanzania's MY 2015-16 (July-June) rice imports at around 100,000 tons.

It estimates Tanzania's 2015 paddy rice production to decline about 7% to around 2.4 million tons from around 2.586 million tons in 2014. In Tanzania, rice is a Msimu/unimodal crop and is grown between November – June every year.

Planting for 2016 rice crop has been delayed due to early dryness in December 2015. However, precipitation was adequate and well-distributed in January 2016, according to the FAO. The UN agency says amount of rainfall and distribution in the coming weeks is crucial for crop development and performance.

USDA estimates Tanzania to produce around 1.716 million tons of rice, basis milled (around 2.6 million tons, basis paddy), and import around 150,000 tons in MY 2015-16 (June 2015 - May 2016). Tanzania is expected to export around 40,000 tons in MY 2015-16.

Survey Finds Very Few Rice Farmers in India Have Crop Insurance

Feb 17, 2016

A report, based on the 70th round of the National Sample Survey carried out between January and December 2013, found that only 5% of rice farmers in the country insured their crops and majority of them were not aware of the insurance concept, according to Business Standard.

The report noted that nearly 20% of rice farmers were not interested in insuring their crops despite knowing about the facility. The report also noted that most of the famers who insured their crops and experienced crop losses have not received their claims.

The survey found that insurance coverage rates were higher among farmers cultivating other crops such as groundnut, soybean and cotton during the crop year 2012-13 (July - June).

The data is very discouraging as the government is keen on providing crop insurance schemes to farmers. The government is aiming to cover about 50% of the farmers in the next two years.

However, the report suggested that proper awareness, enhanced geographical coverage and simplification of procedures may encourage farmers to use the insurance facility.

Asia Rice Quotes Mixed Today

Feb 17, 2016

Thailand rice sellers lowered their quotes for Hommali rice by about $5 per ton to around $680-$690 per ton today. Vietnam rice sellers increased their quotes for 25% broken rice and Jasmine rice by about $5 per ton each to around $335-$345 per ton and $430-$440 per ton respectively. Pakistan rice sellers lowered their quotes for 5% broken rice by about $5 per ton to around $340-$350 per ton and increased their quotes for 100% broken rice by about $5 per ton to around $290-$300per ton. Other Asia rice sellers kept their quotes unchanged today.                                

5% Broken Rice

Thailand 5% rice is indicated at around $360 - $370 per ton, about $15 per ton premium on Vietnam 5% rice shown at around $345 - $355 per ton. India 5% rice is indicated at around $360 - $370 per ton, about $20 per ton premium on Pakistan 5% rice shown at around $340 - $350 per ton.

25% Broken Rice

Thailand 25% rice is indicated at around $345 - $355per ton, about $10 per ton premium on Vietnam 25% rice shown at around $335- $345 per ton. India 25% rice is indicated at around $325 - $335 per ton, about $15 per ton premium on Pakistan 25% rice shown at around $310 - $320 per ton.

Parboiled Rice           

Thailand parboiled rice is indicated at around $370 - $380 per ton. India parboiled rice is indicated at around $350 - $360 per ton, about $55 per ton discount to Pakistan parboiled rice last shown at around $405 - $415 per ton.

100% Broken Rice

Thailand broken rice, A1 Super is indicated at around $325 - $335 per ton, about $5 per ton premium on Vietnam 100% broken rice shown at around $320 - $330 per ton. India's 100% broken rice is shown at around $260 - $270 per ton, about $30 per ton discount to Pakistan broken sortexed rice shown at around $290 - $300 per ton

Wholesale Basmati Rice Prices in India Rise on Increased Buying for Stockpiling

Feb 17, 2016

Wholesale basmati rice prices in the national capital have increased today owing to an increase in buying for stockpiling, according to the Press Trust of India (PTI).

On February 17, 2016, prices of Pusa 1121 increased to around Rs.3,900 - 4,800 per quintal (around $572 - $703 per ton) from previous levels of around Rs.3,800 - 4,700 per quintal (around $559 - $691 per ton).

Prices of common basmati remained stable at  previous levels of around Rs.5,100 - 5,200 per quintal (around $747 - $762 per ton).

"Some buying by stockists against restricted supplies from producing regions mainly attributed to the rise in rice basmati prices,"  traders were quoted as saying.

Thailand Sells 245,262 Tons of Stockpiled Rice in Second Auction of This Year

Feb 17, 2016

The government of Thailand has sold around 245,262 tons of stockpiled rice worth 1.53 billion baht (around $43 million) in the second auction of this year, Reuters quoted sources from the Commerce Ministry.

The Ministry auctioned about 360,000 tons of "Grade C" rice for industrial use from 64 warehouses in today's auction. Bids of nine private companies were reportedly successful in today's auction.

While the Ministry aimed to sell about 570,000 tons of rice in two lots (about 210,000 tons for human consumption and around 360,000 for industrial use), it sold about 397,639 tons, or about 70% of the target volume, raising about 3.32 billion baht (around $93.28 million).

The Ministry noted that the sale would be approved by Thailand's rice management committee but did not provide a time frame. 

Earlier this month, the Commerce Ministry Permanent Secretary noted that the market prices of rice won't be affected due to the current auctions as paddy from the 2015-16 crop has already reached the market.

The government currently holds about 13 million tons of rice in its stockpiles and it is reportedly planning to clear the stocks by the end of 2017. The Thai military government reportedly sold about 5 million tons of stockpiled rice worth $1.5 billion since it seized power in May 2014.

Thailand Accused of Diverting Water from Mekong River to its North-Eastern States

Feb 17, 2016

Thailand, which is part of the Mekong River Commission (MRC), is accused of diverting water from the Mekong River to its North-Eastern states that are suffering from drought conditions without proper notice to the MRC, according to Vietnamese media reports.

The other members of the MRC, including Cambodia, Laos and Vietnam, have been complaining that Thailand diverted water into its territories without consulting the MRC. They say under the rules of Mekong water utilization, any activity of diverting the mainstream must be consulted or allowed by other MRC countries.

Earlier, Bangkok Post quoted the spokesman of Thai Royal Irrigation Department (RID) as saying that the agency had used three pump stations with capacity of 12,000 litres per second each to bring water from the Mekong river into the Nong Khai province to ease the drought there.

However, sources at the MRC noted that they have not received any notice about water utilization by Thailand. Experts warned if a large volume of water is diverted from Mekong mainstream, it would impact water security in the dry season in Cambodia and Vietnam. They noted that particularly Vietnam would be impacted as the Vietnamese rely heavily on the water from Mekong on irrigation and daily use in dry season as well as to prevent saltwater intrusion.

USDA Developing "Rice Studio" Software to Measure Percentage of Brokens in Milled Rice

Feb 17, 2016

The USDA's Grain Inspection, Packers and Stockyards Administration (GIPSA) is developing a new software called "Rice Studio," which can be used along with consumer-grade photo scanners, to grade rice by measuring the percentage of broken kernels in milled rice quickly and accurately, according to a news release on the USDA website.

The USDA's "Rice Studio" will be designed with a wide variety of computers and flatbed photo scanners. It will quickly analyze image of milled rice from a flat-bed scanner. It first identifies whole kernels, and then precisely compares fractured kernels with the most similar whole kernels to determine whether each fractured kernel is whole or broken. The program then computes the percentage of broken kernels by weight. The entire process requires less than five minutes.

The USDA-GIPSA is planning to release the software to all interested users as soon as it is developed and tested fully

Australian Rice Growers Seek Access to China Rice Market

Feb 17, 2016

The Ricegrowers Association of Australia (RGA) is urging the government to speed up the process of signing biosecurity protocols agreement with China so as to be able to export rice to the world's largest rice importer, according to local sources.

The Executive Director of the RGA noted that lack of biosecurity protocols with China has been preventing Australia to gain access to the Chinese rice market.

He noted that China is yet to respond to Australia's submission on the protocols. “Theoretically the holdup is with getting paperwork org­anised, but the decision is political,” he said.

Biosecurity protocols are agreements between two countries that outline the phyto­sanitary requirements of the goods being exported and includes a list of banned pest, weed and chemicals.