2018 overproduction potentially devastating to rice prices
Overproduction of rice in 2018 could resut in sluggish to lower
prices.
Dramatic
swings in Arkansas long grain rice acres have become the norm and this is
anything but a good thing.
Market participants are hearing
an array of 2018 rice acreage and production projections for Arkansas. All
projections are pointing to higher acreage and production in 2018 over 2017:
·
Due in part concerns
regarding weak soybean and corn 2018 pricing opportunities and over expectation
possibilities regarding 2018 rice pricing opportunity.
·
Public and private
varieties are coming on line and creating significant optimism about Arkansas
productivity and quality improvements.
·
This is important
If rice market participants
believe, and this is especially true for 2018 Arkansas long grain rice acreage
and production, that the state will overplant and overproduce in 2018 with no
new demand source, the market could turn sluggish to weaker 2017/18 prices for
the remainder of the marketing period; depending on 2018 planted long grain
rice acreage, potentially chronic low prices could result for the 2018/19
marketing period.
2017 Arkansas Total Rice
2017 Arkansas Total Rice
Harvested Acres: Arkansas’ total
rice harvested acres in 2017 is estimated by USDA at 1,093,000 acres, 28
percent below 2016. FSA preliminary failed total rice estimate is 51,179 acres
and prevented planted 218,791 acres. Without weather and global economic issues
potential total Arkansas rice acreage including failed and prevented is
1,362,970 acres.
Yield per Acre: Arkansas total
rice yield per acre in 2017 is estimated at 7,400 pounds or 164 bushels per acre,
the 4th highest on record.
Production: Arkansas total rice
production in 2017 is estimated at 81 million cwt., 17 million cwt. below a 5-,
10-, and 15-year average of around 98 million cwt.
2017 Arkansas Long Grain Rice:
Harvested Acres: Arkansas long grain
rice harvested acres in 2017 is estimated 945,000 acres, 445,000 acres or 32
percent below 2016’s 1,390,000 acres. The previous six year average is
1,123,000 acres.
Production: Arkansas long grain
rice production in 2017 is estimated at 70 million cwt., the 2nd lowest in the
current 7 production periods.
Top 4 Counties: The top 4 AR long
grain rice counties by harvested acreage are Lonoke, 77,342 acres; Lawrence,
74,529 acres; Greene, 64,904 acres; and Poinsett, 62,922 acres.
2017 Arkansas Medium Grain Rice:
Harvested Acres: Arkansas medium
grain rice harvested acres in 2017 is estimated at 147,000 acres. The previous
16 year average is 159,625 acres.
Production: Arkansas medium grain
rice production in 2017 is estimated at 11 million cwt., or 24 percent greater
than 2016.
Top 4 Counties: The top 4 AR
medium grain rice counties by harvested acreage are Poinsett, 28,819 acres;
Jackson, 19,078 acres; and Lawrence 13,791 acres.
World Rice Fundamentals
If one takes USDA’s balance sheet
at its face value, 2017/18 world rice milled production is 481 million metric
tons, the 2nd highest on record, and world rice milled consumption at 480
million metric tons is also the 2nd highest on record. World rice production
has exceeded consumption in the current 11 marketing periods.
World trade at 45.1 million
metric tons, 2nd highest on record, and consideration could be given to global
reflation providing a more bullish trade bias for 2018.
That said, world rice ending
stocks at 138.9 million metric tons is the highest since 2001/02. Collectively,
from a global perspective, we may not need to be conservative in our Arkansas
acreage expansion plans without an additional known demand source.
U.S. Rice Fundamentals
The 2017/18 long grain rice
total supply is estimated at 178.5 million cwt, which is 15 percent below
2016/17. The 5 year average is a 190 million cwt., and the 10 year average 191
million cwt.
The 2017/18 long grain rice total
export is estimated at 74 million cwt., 4.7 million cwt below last year. The 5
year average is 72 million cwt, and the 10 year average 73 million cwt.
The 2017/18 long grain rice
ending stocks are estimated at 16.5 million cwt, 47-percent below 2016/17 and
the 2nd lowest in the previous 13 marketing periods. The 5 year average 23.7
million cwt and the 10 year average is 24 million cwt, potentially favorable
for 2018 prices unless U.S. overproduction occurs and world production is
average or above.
2018 Global Macro Forces Positive
Present domestic and global
fiscal, monetary, trade and regulatory policies are
adequate to overcome:
·
Chronic global
slow growth
·
Low to negative
interest rates
This assumes social, political,
trade and military stability.
My expectation is that policy
intervention will significantly enhance 2018 Global Inflationary Forces and
provide continued support for rice and grain prices.
For rice, this assumes no
major over-production. Over-production would be bearish pushing prices back
toward 2016/17 season’s lows.
Concluding Thoughts
Dramatic swings in Arkansas long
grain rice acres have become the norm and this is anything but a good thing:
·
From 2011 to
2012 the harvested acreage shifted from 910,000 acres to 1,170,000, a 29
percent increase.
·
From 2013 to 2014 the
harvested acreage shifted from 950,000 acres to 1,265,000 a 33 percent
increase.
·
From 2015 to
2016 the harvested acreage shifted from 1,045,000 acres to 1,390,000 a 33
percent increase.
2018 Arkansas Long Grain Rice:
2018 Arkansas long grain rice harvested acreage likely needs to stay in an
acreage range of 1,086,750 to 1,173,000 acres (2017 = 945,000) or 15 percent to
24.1 percent increase. Why? Reality is with no new demand [and if LG rice
harvested acreage exceeds a 15 [erect increase over 2017 acreage or 1,086,750
acres] one should likely expect increasingly downward pressure on long grain
rice prices, so plan accordingly.2018 Arkansas Medium Grain Rice: Given the
potential of new public and private varieties 2018 Arkansas medium grain rice
harvested acreage could increase to 169,000 acres 15 percent increase over
2017. Here again overproduction could be problematic, so producers should study
demand for medium grain before planting.
Bobby Coats is a professor in the
Department of Agricultural Economics and Agribusiness, University of Arkansas
System, Division of Agriculture, Cooperative Extension Service.
E-mail: recoats@uark.edu
http://www.deltafarmpress.com/rice/2018-overproduction-potentially-devastating-rice-prices
Maiden hybrid rice seed consignment cleared for export
LAHORE: The government has allowed
a local firm to export hybrid rice seed for the first time in the history of
the country, marking Pakistan’s debut in the international trade of this
variety of the agricultural commodity, a statement said on Friday.
“Guard Agricultural Research and
Services Ltd was given a go-ahead to initially sell 50 tons of hybrid rice seed
to a Philippine company, after its consignment passed purity and germination
analysis,” said Shahzad Ali Malik, chief executive Guard.
“The company had applied for the
aforementioned analysis with the Federal Seed Certification & Registration
Department (FSCD) in mid of December 2017 and received a positive response on
January 03, 2018.” Malik said the company would export the consignment shortly
as now it was going through the process of quarantine.
“We had a good harvest of rice seed
of hybrid varieties, which after processing and passing through required
procedures is ready to be exported now,” he said. He said the shipment was expected
to be seen off at Karachi by high government officials, company representatives
and other stakeholders at an event to celebrate this landmark achievement by
the country.
“We dedicate this milestone to the
Pakistani growers, company’s Chinese counterparts and our team,” Malik added.
Shah Rukh Malik, executive seed
division, Guard Agriculture Research & Services, termed it a great
accomplishment, not only for the company but also for Pakistan.
https://www.thenews.com.pk/print/264927-maiden-hybrid-rice-seed-consignment-cleared-for-export
Rice basmati rules firm on upsurge in demand
New Delhi, Jan 5 Rice basmati
prices firmed up by up to Rs 200 per quintal at the wholesale grains market
today on the back of rising demand against restricted supplies from producing
belts.
However, other grains traded flat
in thin trade.
Traders said besides rising
demand from retailers as well as rice mills, fall in arrivals from producing
regions, mainly pushed up rice basmati prices.
In the national capital, rice basmati
common and Pusa-1121 variety went up by Rs 200 and Rs 100 to Rs 7,800- 7,900
and Rs 6,400-6,500 per quintal, respectively.
Following are today's quotations
(in Rs per quintal):
Wheat MP (desi) Rs 2,080-2,280,
Wheat dara (for mills) Rs 1,800-1,815, Chakki atta (delivery) Rs 1,810-1,815,
Atta Rajdhani (10 kg) Rs 260-300, Shakti Bhog (10 kg) Rs 255-290, Roller flour
mill Rs 960-970 (50 kg), Maida Rs 990-1,000 (50 kg)and Sooji Rs 1,050-1,060 (50
kg).
Basmati rice (Lal Quila) Rs
10,700, Shri Lal Mahal Rs 11,300, Super Basmati Rice Rs 9,800, Basmati common
new Rs 7,800-7,900, Rice Pusa (1121) Rs 6,400-6,500, Permal raw Rs 2,300-2350,
Permal wand Rs 2,350-2,400, Sela Rs 2,700-2,900 and Rice IR-8 Rs 1,925-1,975,
Bajra Rs 1,225-1,230, Jowar yellow Rs 1,375-1,425, white Rs 2,750-2,850, Maize
Rs 1,340- 1,345, Barley Rs 1,480-1,490.
https://www.outlookindia.com/newsscroll/rice-basmati-rules-firm-on-upsurge-in-demand/1223379
Indian rice exporters to gain market
share: Ind-Ra
MUMBAI:
The credit profile of rice exporters is likely to improve over the
near-to-medium term due to increase in market share following production
shortfall in parts of South Asia, India Ratings and Research (Ind-Ra) said in a
report.
“Credit profile of rice exporters to improve over the near-to-medium term on the back of increased market share, higher realisations and improved liquidity. Significant production shortfall in parts of South Asia is likely to result in a substantial gain in market share by various Indian exporters,” Ind-Ra said.
Ind-Ra expects Indian rice exports to account over 29 per cent of the global rice trade in marketing year (MY) 2017-18 compared to 26.70 per cent in the MY 2016-17.
The rating agency said subdued yields across major South and East Asian rice producers should result in higher realisations and marginal improvement in export volumes.
Weak output levels in Vietnam and other parts of South Asia have resulted in a sharp spike in international prices, primarily on the back of increased demand from exporters to deliver forward export orders, it added. The agency expects demand to remain strong on the back of higher paddy procurement target and minimum support price.
In June 2017, the government of India had decided to increase the minimum selling price of common grade paddy by 5.4 per cent to Rs 1,550 per quintal, it said.
The procurement target was also increased to 37.50 million tonnes in MY 2016-17 from 34.34 million tonnes in the previous year, it added.
Indian Basmati exports grew 35 per cent annually to Rs 136 billion in the first half of FY18 on the back of a significant growth in offtake by Iran. While the timely lifting of the temporary import ban by the Iranian government on November 22, 2017 is expected to augur well for Indian rice exporters, yet, significant volume gain is unlikely due weak demand from countries like Saudi Arabia and Kuwait, it said.
Iran is likely to replace Saudi Arabia as the largest exporter of Indian Basmati rice.
Saudi Arabia reported a 13 per cent decline in rice imports in the first quarter of FY18.
Despite the recovery in demand from Iran and the US, Ind-Ra expects total growth in Basmati export volumes to remain range bound between 3 per cent and 5 per cent.
“Credit profile of rice exporters to improve over the near-to-medium term on the back of increased market share, higher realisations and improved liquidity. Significant production shortfall in parts of South Asia is likely to result in a substantial gain in market share by various Indian exporters,” Ind-Ra said.
Ind-Ra expects Indian rice exports to account over 29 per cent of the global rice trade in marketing year (MY) 2017-18 compared to 26.70 per cent in the MY 2016-17.
The rating agency said subdued yields across major South and East Asian rice producers should result in higher realisations and marginal improvement in export volumes.
Weak output levels in Vietnam and other parts of South Asia have resulted in a sharp spike in international prices, primarily on the back of increased demand from exporters to deliver forward export orders, it added. The agency expects demand to remain strong on the back of higher paddy procurement target and minimum support price.
In June 2017, the government of India had decided to increase the minimum selling price of common grade paddy by 5.4 per cent to Rs 1,550 per quintal, it said.
The procurement target was also increased to 37.50 million tonnes in MY 2016-17 from 34.34 million tonnes in the previous year, it added.
Indian Basmati exports grew 35 per cent annually to Rs 136 billion in the first half of FY18 on the back of a significant growth in offtake by Iran. While the timely lifting of the temporary import ban by the Iranian government on November 22, 2017 is expected to augur well for Indian rice exporters, yet, significant volume gain is unlikely due weak demand from countries like Saudi Arabia and Kuwait, it said.
Iran is likely to replace Saudi Arabia as the largest exporter of Indian Basmati rice.
Saudi Arabia reported a 13 per cent decline in rice imports in the first quarter of FY18.
Despite the recovery in demand from Iran and the US, Ind-Ra expects total growth in Basmati export volumes to remain range bound between 3 per cent and 5 per cent.
https://kashmirreader.com/2018/01/05/indian-rice-exporters-to-gain-market-share-ind-ra/
Strong baht to depress 2018
exports
· 5 Jan 2018 at 08:07
· NEWSPAPER SECTION: BUSINESS | WRITER: PHUSADEE ARUNMAS
Thailand's rice exports are expected to ease this year from an
expected record high of 11.2-11.3 million tonnes in 2017 because of rising
global demand and the competitiveness of the local grain, says the Thai Rice
Exporters Association.
Workers haul bags at a rice
warehouse in Bangkok. PATTANAPONG HIRUNARD
President Charoen Laothammatas
said the association forecast Thailand's rice exports to dip to 9.5 million
tonnes this year because of depleted state rice stocks and lower Thai hom mali fragrant rice output because of heavy
rains in many areas.
The Agriculture Ministry projects rice production for the 2018
season at 30 million tonnes of paddy rice or 22-23 million tonnes of milled
rice, equivalent to last season.
But the association argued such production is uncertain, citing
weather volatility, while domestic consumption is estimated to exceed 10
million tonnes of milled rice this year because of rising tourist arrivals and
foreign workers in Thailand.
The biggest risk factor for rice exports this year is baht
appreciation that will whittle down Thailand's competitive edge, said Mr
Charoen.
The strong baht will hurt
Thai hom mali rice
the most because supply is generally limited, making the premium grain more
expensive than similar rice from other countries, he said.
As of Dec 27, 2017, Thai hom mali rice was quoted at US$993 a tonne,
while aromatic rice from Vietnam was quoted at $600 a tonne and Cambodian
aromatic rice sold for $800.
Based on the sharp baht
appreciation, Thai hom mali rice
is now quoted at about $1,000 per tonne.
Mr Charoen is confident Thailand shipped 11.2-11.3 million
tonnes last year, setting a record high for rice exports. The volume was up
from 9.90 million tonnes in 2016.
According to the association's figures, Thailand shipped a total
of 10.5 million tonnes in the first 11 months of last year, up 19.9% from the
same period a year earlier.
Values also rose 14.1% for the period to 156.6 billion baht.
The top five importers of Thai rice were Benin, China, South
Africa, Cameroon and the US.
The association estimated Thailand would ship about 800,000
tonnes in the final month of 2017, raising the total for the full year to
11.2-11.3 million tonnes.
https://www.bangkokpost.com/business/news/1390438/strong-baht-to-depress-2018-exports
Rice farmers in
trouble with hippos in CRR
Friday, January 05, 2018
In an interview with The Point,
Alkalo Eliman Njie of the villages said the destruction by the hippos to their
rice fields was a terrifying situation for the village because the rice fields
were previously affected by heavy flash flood which had submerged lots of rice.
“However, the little remaining
rice at the fields has now been also ravaged by the hippos. This destruction
pushed us to terrible challenges because even getting seedlings for the next
season could be difficult, talk less of feedings,” he stated.
He pointed out that they have
been experiencing hippos’ destruction in their rice fields but this year’s is
has been the worst as 80% of the farms have been destroyed due to heavy
downpour, monkeys and hippos incursion.
He explained that the frequent
tampering of the rice fields is due to the high tidal this year. He said that
due to the oversea level, it enable the hippos climb to travel to the fields
for feeding.
He recommended for government
to modernise the agricultural site to tidal irrigation or to dig a ditch
between the river and the rice fields in order to prevent the hippos from
climbing to their rice farms.
One Jalika Keita, a rice
farmer, said the destruction of the rice fields became the community’s greatest
concern as the hippos have destroyed her eight plots of rice where she spent
lots of money including from clearing, ploughing and fertilizer application
among others.
She asserted that the area is a
potential rice growing area and they heavily depend on rice for feeding as well
as for cash crop. She said such devastation could lead to difficulty for them.
She finally noted: “However,
apart from agriculture, we don’t have any source of income to feed our
families; thus if the hippos are discouraging us from rice cultivation then our
future could be in mess.”
Mariama Jallow also a rice
farmer said the hippos destroy all her family’s rice fields which she said was
great devastation for them because they use the rice for feedings, school fees
and other relevant matters.
“The nightmare became a
terrifying, challenging for us since we put all our hopes on rice cultivation
as our principal source of foods and revenue,” she said.
Mamadou Keita and Mariama
Jallow both said the destruction causes numerous challenges for the affected
families, noting that apart from agricultural activities, they do not have any
other source of income. They posited that the hippos’ destruction has
jeopardized their cropping season and appealed to concern authorities to come
to their aid in order to tackle menace of hippos in the area.
They said hence the wild life
department said the hippos should not be killed, then they should provide
measures to address the situation because they are farmers and use the rice
fields to sustain their families.
Author: Lamin S.M. Jawo in CRR
http://thepoint.gm/africa/gambia/article/rice-farmers-in-trouble-with-hippos-in-crr
BSP considers inflation on target, manageable
Published January 5, 2018, 10:01 PM
By Lee C. Chipongian
Bangko Sentral ng Pilipinas (BSP)
Governor Nestor A. Espenilla Jr. yesterday said they remain confident that
inflation path is manageable, within prediction, and is supportive of
sustainable growth.
“Robust domestic economic
activity, ample liquidity, and well-anchored inflation expectations continue to
support within-target inflation,” commented Espenilla following the
government’s announcement of a 2017 inflation rate of 3.2 percent which is within
the target of two percent to three percent.
The 3.2 percent full-year rate is
also the BSP’s forecast for the year.
Espenilla said the BSP “will
remain vigilant against any risks to the inflation outlook to ensure that the
monetary policy stance remains consistent with the mandate of maintaining price
stability conducive to economic growth.”
For this year and in 2019,
inflation rate is projected to settle above the midpoint of the target range of
two percent to four percent for the next two years.
BSP Deputy Governor Diwa C.
Guinigundo said that while they expect the tax reform program will put pressure
on inflation numbers, they look at it as mostly short term effects,
particularly from the higher fuel prices.
Guinigundo said the one
percentage point impact of the tax reform program “hardly justifies a monetary
response” since it will be on the supply side. “We shall consider adjusting our
monetary stance when second round effects are triggered because the demand side
would be upset, generating demand pressure for higher wages and higher
transportation fares.”
“As we said previously, if
Congress is able to pass the rice tariffication bill early enough this year,
that could be a game changer because liberalizing rice imports would have the
effect of cheapening the general price of rice which accounts for nearly nine
percent of the consumer basket. Our initial estimate puts it at around one
percentage point reduction, which on balance could provide some counterweight
to the inflationary pressure of the higher excise tax on fuel,” he said.
Guinigundo added that the tax
reform would produce the funds for infrastructure projects and “increase our
potential output and in the end enhance the supply situation and mitigate price
pressures.”
“The rice policy towards more
open rice importation would allow the government to channel proceeds from rice
tariffs to agricultural support like irrigation, warehousing, drying
facilities, reaearch on new disease and weather resistant rice varieties. This
is a superior public support than subsidizing farm gate rice prices,” said
Guinigundo.
Economists and analysts likewise
had on-point inflation forecasts for 2017. Standard Chartered Bank economist
for Asia, Chidu Narayanan, said they expected the 3.3 percent for the December
rate as well.
“We retain our view that
inflation is not a worry for the Philippines,” said Narayanan. The December
inflation is same as November’s.
The bank also sees a 3.5 percent
inflation for 2018 due to domestic demand and the tax reform. “We estimate
higher infrastructure investment and the tax reform to add about 0.3-0.5
percentage point to headline inflation.”
Tags: Bangko Sentral ng Pilipinas, BSP Deputy Governor Diwa C. Guinigundo, monetary policy stance, Nestor A. Espenilla Jr., sustainable growth, Tax
reform
Prices of rice
drops by 25% in Maiduguri
ON JANUARY 5, 20185:28 PM
As farmers began crop harvest, prices of local rice has dropped by
about 25 per cent in Maiduguri, Borno, and newsmen report. A check by newsmen
at Gamboru and Customs Area Markets in Maiduguri indicated that prices of the
commodity had dropped in the past two months since the beginning of crop
harvest by farmers. Rice Newsmen report that rice farmers had recorded bumper
harvests this cropping season, forcing the prices of the staple food crushing.
A 50kg bag of local rice goes for between N6,500 and N7,200 as against the old
price of N9,000, while a measure of the produce is sold at N380. The
development has affected the price of refined rice which also declined. A 50kg
bag is being sold at between N15,000 and N16,500 from the old pric
e of N17,500. A measure of the commodity now go for N900 as against
N1,050, depending on its quality. Prices of other produce had also dropped
significantly in the past months as a measure of maize is sold at N280, beans
N450 and millet N350, as against the previous prices of N420, N600 and N500,
respectively. Similarly, a measure of groundnut oil i sold at N280 as against
N500. Traders at the markets attributed the drop in prices to improvement in
the supply of food commodities to the markets. Malam Ali Muhammad, a rice
dealer, said that prices of rice were falling on daily basis in view of the
fresh supplies from the farms. Muhammad also attributed the situation to
improvement in the supply of local produce to the market, adding that the
development is encouraging. “There is a significant increase in the number of
farmers who cultivated rice and other produce this cropping season. “Prices
will further go down as supply improves,’’ he said. Muhammad said that rice
dealers were now enjoying appreciable patronage. Also commenting, Ya-Ana Yusuf,
a peanut grower, said that the massive mobilisation of farmers in liberated
communities had encouraged production and forced grain prices down in the
state. Malam Muhammad Dungus, a resident, expressed joy over the development,
and urged traders to further reduce their prices. Newsmen report that the
Federal Government in collaboration with Food and Agriculture Organisation
(FAO) had distributed fertilisers, seeds and inputs to over 1.1 million farmers
in the Northeast this cropping season. More than 5,000 rice farmers were also
supported by the Central Bank of Nigeria (CBN) under the Anchor Borrowers
Scheme in Borno.
Iran imports 1m tons of rice in 9
months
January 5, 2018
TEHRAN- According to the latest report released by
the Islamic Republic of Iran Customs Administration (IRICA), the country
imported one million tons of rice during the first nine months of the current
Iranian calendar year (ended December 21, 2017).The value of the
imported rice stood at $983 million, the report said, showing an increase of 86
percent from the last year’s $527 million. Iran’s imports of rice registered 65
percent rise in terms of volume, compared to the same time in last year.
Group earmarks 1200 hectares for
rice production in Benue
"Our Cooperative has earmarked
1200 hectares of farmlands for rice production and we are providing guaranteed
security to all investments," Obeya tells Pulse.
· Published: 05.01.2018
· Goodness Adaoyiche
· Print
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Group earmarks
1200 hectares for rice production in Benue
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In line with the diversification
move of the federal government, the Benue South Multipurpose Cooperative
society has earmarked 1200 hectares of farmlands for rice production in the
state.
Coordinator of the group, Andrew
Obeya, tells Pulse that 2018
agribusiness season will focus on rice production.
Obeya noted that the cooperative
had obtained legal authorities and work closely with communities and relevant
bodies towards ensuring healthy and hygienic foods and commodities are produced
for human and industrial consumptions.
“Our goal is to set up and
manage agribusiness for willing investors who may have very little opportunity
to own and manage their investments directly,” Obeya said.
“The Cooperative society works
closely with off-takers and partners to procure farm products for food
manufacturing and processing companies. While we work with off-takers to make
this happen, we are also developing a long term plan of manufacturing,
processing and redistribution of food and raw materials that are needed for
consumption.
“The 2018 agribusiness season will focus on
rice production. Our Cooperative has earmarked 1200 hectares of farmlands for
rice production and we are providing guaranteed security to all investments, in
other to ensure that investors get the best out of their investments.
“The return on investment is
about 50 percent of capital per annum and it is expected that investors’
capital will run for 12 months before yielding the desired profit," he concluded.
He added that the cooperative also
engages in the sales and distribution of farm inputs like fertilizers, improved
seeds and other products that aid agribusiness for small holder farmers and
investors.
Meanwhile, an agriculturist, Richard
Ogundele, has advised the federal government to allow the current rice production
system firm up and become self-sufficient,
before it could contemplate banning its importation.
Ogundele made the plea in an
interview with the News Agency of Nigeria (NAN) on Friday, January 5, 2018 in
Lagos.
http://www.pulse.ng/news/business/group-earmarks-1200-hectares-for-rice-production-in-benue-id7808376.htmlTwo
millers found to be recycling
Rice basmati rules firm on upsurge
in demand
Rice basmati prices firmed up by up to Rs 200 per quintal at the
wholesale grains market today on the back of rising demand against restricted
supplies from producing belts. However,
other grains traded flat in thin trade.
Traders said besides rising demand from retailers as well as rice mills,
fall in arrivals from producing regions, mainly pushed up rice basmati
prices. In the national capital, rice
basmati common and Pusa-1121 variety went up by Rs 200 and Rs 100 to Rs 7,800-
7,900 and Rs 6,400-6,500 per quintal, respectively. Following are today's quotations (in Rs per
quintal): Wheat MP (desi) Rs
2,080-2,280, Wheat dara (for mills) Rs 1,800-1,815, Chakki atta (delivery) Rs
1,810-1,815, Atta Rajdhani (10 kg) Rs 260-300, Shakti Bhog (10 kg) Rs 255-290,
Roller flour mill Rs 960-970 (50 kg), Maida Rs 990-1,000 (50 kg)and Sooji Rs
1,050-1,060 (50 kg). Basmati rice (Lal
Quila) Rs 10,700, Shri Lal Mahal Rs 11,300, Super Basmati Rice Rs 9,800,
Basmati common new Rs 7,800-7,900, Rice Pusa (1121) Rs 6,400-6,500, Permal raw
Rs 2,300-2350, Permal wand Rs 2,350-2,400, Sela Rs 2,700-2,900 and Rice IR-8 Rs
1,925-1,975, Bajra Rs 1,225-1,230, Jowar yellow Rs 1,375-1,425, white Rs
2,750-2,850, Maize Rs 1,340- 1,345, Barley Rs 1,480-1,490.
CBN to make Nigeria global rice
giant
The Central Bank of Nigeria (CBN) said it is determined to make
Nigeria one of the largest rice producer and exporter in the world, making her
less dependent on petroleum money.
Speaking with newsmen in Umuahia,
the apex bank’s Acting Director, Corporate Communication, Issac
Okoroafor, underlined the preparedness of the CBN to make the dream come true,
saying the country’s apex bank is determined to make Nigeria join other
countries in the production and exportation of rice, so that there will be food
security and more jobs for the teeming youths.
He said, “This year, we are expecting
that we will be self- sufficient in rice production, Nigeria will become a net
exporter of rice because we have seen that most families now eat
made-in-Nigeria rice.
“We now eat rice grown fresh in
Nigeria not the rice we used to import from India, Vietnam and Thailand, rice
that was between seven to nine years old. Now we are eating farm fresh
rice, grown, milled and packaged in Nigeria. You see, we are very proud of
Nigerians, because they responded to this”.
Okoroafor said the Anchor
Borrowers programme has been one of the most successful programs in this
country, adding that it goes to show that, “when our people think well and we
invest well, we can achieve a revolution, which is what Anchor Borrowers
programme has achieved. We are continuing with it, we are expanding it.”
He said the regulator is getting
into the next stage of the Anchor Borrowers Program, which is working with
commodity associations, (no longer states), pointing out however that the apex
bank is still continuing with the state governments.
“We are opening up a window for
commodity associations. We have started with the Rice Farmers Association of
Nigeria (RIFAN), we expect to reach 12 million farmers in this program and you
can imagine what 12 million farming with at least one hectare of land can
produce. You can imagine what that will bring to our economy”.
Okorafor said the accelerated
agricultural development scheme will involve 10 thousand youths at the pilot
level, saying the choice of the youths, will be those that will take pride in
agriculture, who also at the end of the day, will be well funded to make
agriculture big business.
He said, “We are starting with
360 to 370 youths, including Abuja and we look forward to a few years when we
will come up and say, yes, we have made 360 billionaires in agriculture, young
people between the ages of 16 and 35, that is our target.
“They would come up to make this
nation proud. So we are collaborating with the Ministry of Agriculture and
Rural Development on this programme. The details are going to be rolled out
very soon. There has been a stakeholders meeting in Abuja and that is our
focus for this year,” he stated.
Okoroafor said the CBN has spent
about N87.5 billion on the Micro, Small and Medium Entreprise Development Fund,
which was designed for small business operators, like artisans, vulcanizers,
hair dressers and tailors, among others.
He appealed to youths in Abia and
the other Southeast states to key-into the programmes of the CBN, by forming
strong cooperatives to enable them access the available funds without
cut-throat collaterals.
Rice exports at document excessive in 2017
January
5, 2018 Kaplan Contributor
Rice
exports hit an all-time record in 2017, increasing by 14.77% this year to at
least 11.25 million tonnes as of Dec 27, the Ministry of Commerce said.The price per tonne has risen
above US$1,000 for popular Jasmin fragrant rice, or hom mali.
Sales
revenue showed significant growth of around 15%, or $4.97 billion (168 billion
baht). With a few days still remaining in the calendar year, the export volume
was already the highest since Thailand began trading rice.
On
the global market, the price of Jasmine rice continues to climb steadily,
currently standing at $1,040, the highest in the past five years, the
ministry statement said.
Staple
‘white rice 5%’ was also doing exceptionally well and competitive, but prices
remained quite stable at $403 per metric tonne.
Honorary
president of the Thai Rice Exporters Association Chukiat Opaswong said
shipments soared on increased foreign demand and a decrease in global market
supply.
“The
government’s stock of hom-mali rice for export has already run dry, and our
domestic production has dropped from nine to seven million tonnes this year,
which caused exporters and rice mills to compete intensely for the remaining
supply,” Mr Chukiat said.
“As
for the white rice, the price remains stable and less exciting than Jasmine
rice because India has recently offloaded their stock at a discount, and its
volume is quite overwhelming.”
On
Jan 14 the Ministry of Commerce will organise a workshop and seminar for
representatives of the rice sector on the future direction and development
of the industry, Deputy Commerce Minister Chutima Bunyapraphasara said.
“We
will discuss the system as a whole, looking at ways to improve harvesting,
production and marketing Thai rice. Next year’s plan to expand the rice
industry will give importance to G2G (government-to-government) trading, and
fulfilling our contract with China for 600,000 metric tonnes of rice,” Ms
Chutima said.
The
Ministry of Commerce is planning for a new 1 million tonne contract with China
next year, and is ready for negotiations with Indonesia, the Philippines and
Sri Lanka, she said.
https://kaplanherald.com/2018/01/05/rice-exports-at-document-excessive-in-2017/
Nagpur Foodgrain Prices Open- January 5, 2018
Nagpur Foodgrain Prices – APMC/Open Market-January 5, 2018
Nagpur, Jan 4 (Reuters) – Gram prices showed weak tendency in Nagpur Agriculture Produce
Marketing Committee (APMC) on lack of demand from local millers amid high moisture content
arrival. Fresh fall in Madhya Pradesh gram prices and release of stock from stockists also
pulled down prices.
About 150 bags of gram reported for auctions in Nagpur APMC, according to sources.
FOODGRAINS & PULSES
GRAM
* Desi gram raw moved down in open market on lack of demand from local traders.
TUAR
* Tuar gavarani and tuar Karnataka recovered in open market on increased demand
from local traders.
* Moong Chamki reported weak in open market on poor demand from local traders amid
good supply from producing regions.
* In Akola, Tuar New – 4,100-4,200, Tuar dal (clean) – 6,000-6,200, Udid Mogar (clean)
– 7,800-8,800, Moong Mogar (clean) 7,300-7,600, Gram – 4,300-4,400, Gram Super best
– 6,400-7,000
* Wheat, rice and other foodgrain items moved in a narrow range in
scattered deals and settled at last levels in thin trading activity.
Nagpur foodgrains APMC auction/open-market prices in rupees for 100 kg
FOODGRAINS Available prices Previous close
Gram Auction 3,200-3,700 3,200-3,790
Gram Pink Auction n.a. 2,100-2,600
Tuar Auction n.a. 3,500-4,201
Moong Auction n.a. 3,900-4,200
Udid Auction n.a. 4,300-4,500
Masoor Auction n.a. 2,600-2,800
Wheat Mill quality Auction 1,600-1,706 1,600-1,686
Gram Super Best Bold 7,000-7,500 7,000-7,500
Gram Super Best n.a. n.a.
Gram Medium Best 6,000-6,500 6,000-6,500
Gram Dal Medium n.a. n.a
Gram Mill Quality 4,100-4,200 4,100-4,200
Desi gram Raw 4,650-4,750 4,700-4,800
Gram Kabuli 12,400-13,000 12,400-13,000
Tuar Fataka Best-New 6,200-6,500 6,200-6,500
Tuar Fataka Medium-New 5,900-6,100 5,900-6,100
Tuar Dal Best Phod-New 5,700-5,900 5,700-5,900
Tuar Dal Medium phod-New 5,300-5,600 5,300-5,600
Tuar Gavarani New 4,300-4,400 4,200-4,300
Tuar Karnataka 4,600-4,800 4,500-4,700
Masoor dal best 5,000-5,200 5,000-5,200
Masoor dal medium 4,700-4,900 4,700-4,900
Masoor n.a. n.a.
Moong Mogar bold (New) 7,500-8,000 7,500-8,000
Moong Mogar Medium 6,500-7,000 6,500-7,000
Moong dal Chilka 5,800-6,500 5,800-6,500
Moong Mill quality n.a. n.a.
Moong Chamki best 7,400-7,900 7,500-8,000
Udid Mogar best (100 INR/KG) (New) 8,000-8,500 8,000-8,500
Udid Mogar Medium (100 INR/KG) 5,800-7,000 5,800-7,000
Udid Dal Black (100 INR/KG) 5,000-6,200 5,000-6,200
Batri dal (100 INR/KG) 5,000-5,500 5,000-5,500
Lakhodi dal (100 INR/kg) 2,500-2,600 2,500-2,600
Watana Dal (100 INR/KG) 3,200-3,300 3,200-3,300
Watana Green Best (100 INR/KG) 3,400-3,800 3,400-3,800
Wheat 308 (100 INR/KG) 1,900-2,000 1,900-2,000
Wheat Mill quality (100 INR/KG) 1,750-1,850 1,750-1,850
Wheat Filter (100 INR/KG) 2,150-2,350 2,150-2,350
Wheat Lokwan best (100 INR/KG) 2,200-2,400 2,200-2,400
Wheat Lokwan medium (100 INR/KG) 1,950-2,150 1,950-2,150
Lokwan Hath Binar (100 INR/KG) n.a. n.a.
MP Sharbati Best (100 INR/KG) 3,200-3,700 3,200-3,700
MP Sharbati Medium (100 INR/KG) 2,400-2,800 2,400-2,800
Rice BPT best (100 INR/KG) 3,200-3,600 3,200-3,600
Rice BPT medium (100 INR/KG) 2,700-2,800 2,700-2,800
Rice Luchai (100 INR/KG) 2,300-2,500 2,300-2,500
Rice Swarna best (100 INR/KG) 2,500-2,600 2,500-2,600
Rice Swarna medium (100 INR/KG) 2,350-2,450 2,350-2,450
Rice HMT best (100 INR/KG) 4,100-4,500 4,100-4,500
Rice HMT medium (100 INR/KG) 3,500-3,900 3,500-3,900
Rice Shriram best(100 INR/KG) 5,000-5,400 5,000-5,400
Rice Shriram med (100 INR/KG) 4,400-4,900 4,400-4,900
Rice Basmati best (100 INR/KG) 9,500-13,500 9,500-13,500
Rice Basmati Medium (100 INR/KG) 5,000-7,500 5,000-7,500
Rice Chinnor best 100 INR/KG) 5,800-6,000 5,800-6,000
Rice Chinnor medium (100 INR/KG) 5,200-5,500 5,200-5,500
Jowar Gavarani (100 INR/KG) 2,000-2,200 2,000-2,100
Jowar CH-5 (100 INR/KG) 1,800-2,000 1,700-2,000
WEATHER (NAGPUR)
Maximum temp. 27.2 degree Celsius, minimum temp. 9.1 degree Celsius
Rainfall : Nil
FORECAST: Mainly clear sky. Maximum and minimum temperature would be around and 27 and 09 degree
Celsius respectively.
Note: n.a.--not available
(For oils, transport costs are excluded from plant delivery prices, but included in market prices)
Rice: Fortified Rice Added to Global Food Assistance
Programs
By
Rebecca Bratter, USA RiceJanuary 4, 2018
©Creative
Commons Yamanaka Tamaki
For the past three years, USA
Rice has worked closely with the U.S. Agency for International Development
(USAID), the U.S. Department of Agriculture (USDA), and their partner, The
World Food Programme (WFP) to help formulate specifications for a nutritionally
superior rice product for use in global food assistance programs. At long
last, the dialogue, field testing, and peer review, has borne fruit as USAID
recently announced the publication of a new commodity specification document
for the procurement of fortified rice that can address not just hunger but the
long-term debilitating effects of malnutrition.
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While
fortified rice has been approved for use in global feeding programs for the
past two years, only extruded fortified rice was specified in the commodity
document, therefore limiting the amount of fortified rice actually used.
As
of December 31, 2017, the use of coated fortified rice has been incorporated
into the document as an alternate and equally effective micronutrient fortified
product. This means more fortified product availability, greater
economies of scale, and efficiency for U.S. government food assistance
programs.
Additionally,
some of the other rice specifications have been updated and simplified,
including new specifications allowing vendors to identify suitable packaging
that limits infestation and waste.
“While
the use of all rice in global feeding programs has increased significantly over
the last year to more than 100,000 MT, we believe the addition of coated
fortified rice to feeding programs will result in greater use of fortified rice
in all food aid programs,” said Bobby Hanks, chairman of the USA Rice Food Aid
Subcommittee.
In
the last year, the USDA’s McGovern Dole Food For Education Program went from
using negligible amounts to more than 25,000 MT of fortified rice in School
Feeding programs in Asia and Africa.
“Reducing
and eliminating rampant malnutrition is a goal of all global food assistance
programs, and implementing agencies will be looking to fortified rice as a key
component of food rations in their ongoing and future programming,” Hanks said.
“USA
Rice is pleased with the timely release of the new commodity document and the
ongoing strength of its partnership with both USAID and USDA that made this
possible,” said Sarah Moran, USA Rice vice president international.
“While the specification is in effect as of the new year, we will continue to
work through a six-month transition period allowing for any new feedback on the
specification, particularly on packaging and product shelf life.”
Moran said she anticipates the
trend of increased rice usage in these programs will continue in 2018 which
provides a lift for the entire U.S. industry.
http://agfax.com/2018/01/04/rice-fortified-rice-added-to-global-food-assistance-programs/
REAP to send
trade delegation to Saudi Arabia
Last Updated On 05 January,2018 03:40
pm
We are seeing positive growth in rice exports, the
Senior Vice Chairman of REAP said.
KARACHI (Dunya News) - Rafique Suleman, the Senior Vice Chairman
of Rice Exporters Association of Pakistan (REAP) held a meeting with Inamullah
Khan, the Secretary of Trade Development Authority of Pakistan (TDAP) at TDAP
Head Office Karachi.
Rafique Suleman expressed with pleasure that we are seeing
positive growth in rice exports, however, there are several measure to be taken
for the betterment of the 2nd largest export trade. He shared the suggestions
with TDAP Officials.
He said that since long time we don’t have any good rice seed,
that is why many companies are importing hybrid seeds of rice. He emphasized
for proper check and balance on importation of hybrid seeds, as it has been
observed that some companies are importing low quality rice seeds which are not
good for our agricultural environment. After visit of REAP Delegation to
Philippines in 2015, International Rice Research Institute (IRRI) has sent new
GSR-1 & GSR-2 rice seeds, further NIBGE Faisalabad has introduced New
Basmati Rice Seed BR-1 which is also useful in low quantity of water. REAP has
distributed these Rice Seeds among Farmers for experimental sowing of rice and
these seeds are in multiplication stage.
He also
requested to give some relief to rice exporters are they are making huge
investments for value addition in rice and struggling hard to compete in
international markets, particularly for the survival of Basmati rice exports.
He suggested to give farmers latest rice equipments, such as Dryers etc. on
easy installments, so that we may get good quality rice for export purpose. He
also suggested to organize Awareness Programme by TDAP for Farmers for adopting
latest techniques in rice farming.
He added that REAP is planning to send a high profile
trade delegation to Kingdom of Saudi Arabia in the month of March for the
forceful marketing and promotion of Pakistani rice and to increase market share
of Pakistani rice in Saudi Arabia. Saudi Arabia is very good market
particularly for Basmati rice and they import approx. $ 1 Billion worth of rice
every year. Pakistan had a good share in Saudi markets, however, since last few
years Pakistani rice exports facing decline.
Pakistan had exported 172,000 M/Tons of Rice amounting
US$123.86 Million in 2010-11, whereas in last fiscal year 2016-17 we have
exported only 70,000 M/Tons amounting US$47 Million. Therefore, REAP has
decided to send a trade delegation on priority basis. He was very hopeful that
there is tremendous scope for the export of Pakistani Basmati rice to Saudi
Arabia, because of its supreme quality, unique aroma and taste. We are also
sending letters to TDAP and Pakistan Mission in Riyadh and Jeddah for arranging
meetings of REAP Delegation with Chamber Officials and Leading Rice Buyers.
http://dunyanews.tv/en/Business/422169-REAP-rice-export-Pakistan-Saudi-Arabia
