Riceplus
A Voice for Rice Community
Tuesday, March 31, 2015
Saturday, March 21, 2015
20th March (Friday) , 2015 Global Rice E-Newsletterby Riceplus Magazine
Farmers oppose to “Golden Rice”
TAGBILARAN CITY – Militant
farmers belonging to Hugpong sa Mag-uumang Bol-anon (HUMABOL), an affiliate of
Kilusang Magbubukid ng Pilipinas (KMP) have opposed to the genetically modified
“Golden Rice.”Danilo Olayvar, HUMABOL chair, told “Sumada” program anchored by
Alan Mangmang over DyTR recently that the based on research “Golden Rice”
appeared harmful to human and to plants.He said that instead of Department of
Agriculture’s endorsing the said “Golden Rice” to farmers, it would be better
for the government to encourage the planting of local varieties of root crops,
fruits and vegetables which are rich in Vitamin A.
These local varieties of crops
are more sustainable than the genetically-modified “Golden Rice,” he said.
“Golden Rice” is promoted since it contains Vitamin A, he added.“Amo gyud nang
batukan,” (We will oppose it), he said. And this “Golden Rice,” if commercially
viable, could also spur grain price changes, if not price increment, in the
locality because this is business.The government appeared not looking for the
benefit of the consumers but to the businesses, Olayvar said in vernacular. It
was not immediately known if the “Golden Rice” has already penetrated
discreetly in Bohol.
Earlier, the provincial
government through the Sangguniang Panlalawigan has enacted an ordinance
banning the entry and field testing of genetically-modified-organism (GMO)
plants or seeds. Monitoring and vigilance activities had been conducted. But
these efforts have been allegedly abandoned for unknown reason.According to the
research, “The (golden) rice also displays an enhanced iron content and in the
grain, the presence of such enhanced levels of beta carotene results in a
yellow tint that has prompted the name of “Golden Rice.”The studies pointed out
that “Vitamin A, by nature, is almost completely absent from rice. Diseases
caused by this deficiency are widespread in many Asian countries in which the
grain serves as dietary stales.
”“Through the use of gene
technology, researchers have developed a variety of the plant that produces
greater proportions of beta-carotene, a compound which may processed by human
body into vitamin A.”“The lack of this vitamin increases the chances of
blindness and susceptibility to disease. Vitamin A deficiency is a significant
problem among children in developing countries.” It is estimated that one cup
of golden rice, around 670,000 children will die each year from the problem,
while 350,000 will go blind.
”Reports said that “Golden Rice”
has been introduced since this variety is pest-resistant and have high yiled,
ther report said.The need for more rice production appeared prompted the
Philippines to pursue this since it has only 1.9 million hectares of irrigated
rice fields available for local rice production. This is lower than Thailand with
9.9 million hectares and Vietnam with 7.5 million of rice fields.The project to
develop Golden Rice started 20 years ago in 1993 by German researchers with
funding from the Rockefeller Foundation. It is the brainchild of Professor Ingo
Potrykus of Zurich and Peter Beyer of the University of Freiburg.
Their collaborative efforts they
were able to show that “production of B-carotene could be turned on in rice
grains using a minimum set of transgenes.”It was learned that the research of
this “Golden Rice” at Syngenta (Nature of Biotechnology 2005) is funded by the
Rockefeller Foundation, Bill and Melinda Gates Foundation, United States Agency
for International Development (USAID), Philippine Dept. of Agriculture,
HarvestPlus, European Commission, Swiss Federal Funding, and the Syngenta
Foundation. The International Rice Research Institute (IRRI) together with
PhilRice carriedout the field testing, the report said. (rvo)
Two rice importers in smuggle
raps
By | Mar. 20, 2015 at 12:01am
Two rice traders on
Thursday were charged with smuggling for the illegal importation of
rice valued at P31 million, the Customs Bureau said on
Thursday.Charged before the Department of Justice were Elmer Caneta and
Michael Abella owners of EC Peninsula Commercial and New Dawn Enterprises,
respectively, Customs Commissioner John Sevilla said.The two tried to
import rice without permit and misdeclared their shipments in
violation of customs law Sevilla said.
The rice shipments arrived
December last year at the Port of Cagayan De Oro. Both importers
misdeclared the rice imports as kitchen wares and tiles.Both traders were also
slapped with similar charges last January by the BOC after they were caught
illegally importing over 1.3 million kilograms of glutinous rice worth P82.68
million in Cagayan De Oro Port last November 2014.
Japanese firm Yanmar forms JT venture with Ropali
By Louella D. Desiderio, The Philippine Star
Posted at 03/20/2015 7:40 AM
MANILA, Philippines - Japanese agricultural and construction
equipment maker Yanmar Co. Ltd. has formed a joint venture with local firm
Ropali Corp. to sell agricultural machinery for rice farmers with the aim of
cornering at least 30 percent of the market by 2018.Naoki Kobayashi, managing
director for agricultural operations business at Yanmar Co. Ltd., said in a
press conference the firm decided to form the joint venture Yanmar Philippines
Corp. given opportunities here as the country is among the biggest producers of
rice in the world.“Our objective to establish Yanmar Philippines Corp. is not
just to improve farmers’ income, but also the sustainability of the Philippine
agriculture sector.
The Philippines is the eighth biggest producer of rice in the
world, but it also relies on importing from other countries. By establishing
the joint venture with Ropali, I think we can contribute to the agriculture
sector,” he said.For his part, Ropali Corp. president and chief executive
officer Roberto Alingog said the partnership is not only expected to increase
farmers’ incomes, but also the country’s rice supply.“This will be a
transformation very much like what happened in the 1970s but now attended by
the higher levels of technology and comfort for the farmer. Higher yield too is
expected with the use of the Yanmar tractors, transplanters and rice combine
harvesters,” he said.
The joint venture, which has an invested capital worth P120
million with 60 percent accounted for by Yanmar Corp. and the balance coming
from Ropali, would engage in the import, sale and service of various types of
agricultural machinery.Yanmar Philippines Corp. president Hideaki Ikezawa said
the target is to achieve sales worth 6.5 billion yen by 2018.“The earlier we
achieve that target would be better,” he said.Yasuji Arima, executive officer
and divisional manager for overseas business promotion division at Yanmar Co. Ltd.
said the 6.5 billion yen worth of sales would translate to about 30- to
40-percent market share for the firm.While the firm would want to manufacture
its products here, he said much would depend on the sales volume.“If sales
volume get very big, of course, we wish (to manufacture products here),” he
said.
In the future, Kobayashi said the joint venture may expand its
business to vegetables and fruit production.Yanmar Group, which is engaged in
business domains: agriculture; marine; power generation and air conditioning;
construction; and industrial engine, has 66 companies worldwide.Apart from the
Philippines, it has presence in Vietnam, Thailand and Indonesia in Southeast
Asia.The Ropali Group, meanwhile, is engaged in banking, sales and distribution
of agri-machineries and motorcycles, manufacturing as well as real estate.
Farmers oppose
to “Golden Rice”
TAGBILARAN
CITY – Militant farmers belonging to Hugpong sa Mag-uumang Bol-anon (HUMABOL),
an affiliate of Kilusang Magbubukid ng Pilipinas (KMP) have opposed to the
genetically modified “Golden Rice.”Danilo Olayvar, HUMABOL chair, told “Sumada”
program anchored by Alan Mangmang over DyTR recently that the based on research
“Golden Rice” appeared harmful to human and to plants.He said that instead of
Department of Agriculture’s endorsing the said “Golden Rice” to farmers, it
would be better for the government to encourage the planting of local varieties
of root crops, fruits and vegetables which are rich in Vitamin A. These local
varieties of crops are more sustainable than the genetically-modified “Golden
Rice,” he said. “Golden Rice” is promoted since it contains Vitamin A, he
added.
“Amo
gyud nang batukan,” (We will oppose it), he said. And this “Golden Rice,” if
commercially viable, could also spur grain price changes, if not price
increment, in the locality because this is business.The government appeared not
looking for the benefit of the consumers but to the businesses, Olayvar said in
vernacular. It was not immediately known if the “Golden Rice” has already
penetrated discreetly in Bohol.Earlier, the provincial government through the
Sangguniang Panlalawigan has enacted an ordinance banning the entry and field
testing of genetically-modified-organism (GMO) plants or seeds. Monitoring and
vigilance activities had been conducted. But these efforts have been allegedly
abandoned for unknown reason.
According
to the research, “The (golden) rice also displays an enhanced iron content and
in the grain, the presence of such enhanced levels of beta carotene results in
a yellow tint that has prompted the name of “Golden Rice.”The studies pointed
out that “Vitamin A, by nature, is almost completely absent from rice. Diseases
caused by this deficiency are widespread in many Asian countries in which the
grain serves as dietary stales.”“Through the use of gene technology,
researchers have developed a variety of the plant that produces greater
proportions of beta-carotene, a compound which may processed by human body into
vitamin A.”“The lack of this vitamin increases the chances of blindness and
susceptibility to disease.
Vitamin A deficiency is a significant problem
among children in developing countries.” It is estimated that one cup of golden
rice, around 670,000 children will die each year from the problem, while
350,000 will go blind.”Reports said that “Golden Rice” has been introduced
since this variety is pest-resistant and have high yiled, ther report said.The
need for more rice production appeared prompted the Philippines to pursue this
since it has only 1.9 million hectares of irrigated rice fields available for
local rice production. This is lower than Thailand with 9.9 million hectares
and Vietnam with 7.5 million of rice fields.
The
project to develop Golden Rice started 20 years ago in 1993 by German
researchers with funding from the Rockefeller Foundation. It is the brainchild
of Professor Ingo Potrykus of Zurich and Peter Beyer of the University of
Freiburg. Their collaborative efforts they were able to show that “production
of B-carotene could be turned on in rice grains using a minimum set of
transgenes.”It was learned that the research of this “Golden Rice” at Syngenta
(Nature of Biotechnology 2005) is funded by the Rockefeller Foundation, Bill
and Melinda Gates Foundation, United States Agency for International
Development (USAID), Philippine Dept. of Agriculture, HarvestPlus, European
Commission, Swiss Federal Funding, and the Syngenta Foundation. The
International Rice Research Institute (IRRI) together with PhilRice carriedout
the field testing, the report said. (rvo)
APEDA NEWS
http://www.boholnewstoday.com/201503/farmers-oppose-to-golden-rice.html
|
Market Watch
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
outh power rejuvenates paddy
fields to harvest a bounty
MANGALURU, MARCH
20:
An initiative by a few youths to rejuvenate unused paddy fields
in Dakshina Kannada district is bearing fruits now.Led by U Rajesh Naik, a
progressive farmer from Dakshina Kannada district, a group of youths began
paddy cultivation on five acres of land at Brahmarakootlu village in Dakshina
Kannada district in November. The owners of the land had agreed to the request
of the youths to rejuvenate it with paddy cultivation, as it was left unused
for nearly two decades.Naik had two things in mind when he initiated this
project.
First was to channelise the youth power to a productive purpose,
and second to rejuvenate the unused paddy fields in the district.Naik told
Business Line that the organic cultivation on five acres of land helped the
group to harvest around 130 ‘muras’ of paddy in the first week of March.
(‘Mura’ is a local unit for measuring the quantity of paddy. Each ‘mura’ is
equal to around 40 kg of paddy).This pilot project yielded around 5000 kg of
organically cultivated rice for this group of youths. Stating that there has
been good demand for rejuvenating paddy fields through such collaborative
farming, Naik said the Brahmarakootlu youths have already identified 50 acres
of land in the nearby areas for cultivation.
Their target is to cultivate paddy on around 100 acres of unused
land during the next cropping season, he said.Now these youths have gone a step
ahead and have planted maize on these five acres of land to improve fertility
of the soil and to produce fodder for dairying activities. Naik said that many
temples in the district have paddy fields attached to them. In most of the
cases, these fields are left unused for various reasons. His intention now is
to rejuvenate such paddy fields through collaborative farming methods.According
to Naik, nearly 40,000 acres of paddy fields in Dakshina Kannada district have
remained unused over the years.
(This article was published on March 20, 2015)
Nigeria: Elephant Group Partners Africinvest for
Global Rice Production
Tagged:Food and AgricultureGovernanceNigeriaWest Africa
A LEADING player in Nigeria's agricultural commodities promotion
drive, Elephant Group, has signed a Memorandum of Understanding with a global
organisation, AfricInvest for the purpose of boosting the federal government's
backward integration initiatives on rice, crude palm oil and fertilizer Supply
Value Chain across the world.This is in line with the company's plan to
showcase its products at the international market.At a meeting in Lagos during
the week, Founder/Group Managing Director, Elephant Group, Mr. Tunji Owoeye,
explained that the company has entered into deal with AfricInvest for an equity
investment in Elephant Group. Our Correspondent reports that based on the deal,
AfricInvest would acquire a minority equity interest in Elephant Group via issuing
new shares.
A
statement emanating from both parties indicated that "the fund raised will
be used to boost Elephant Group's market share in agricultural commodities
trading and deepen penetration of agricultural commodities exports across
selected markets in Africa even as the Elephant Group will continue to
strengthen its backward integration initiatives in the rice, crude palm oil and
fertilizer value chain".Owoeye declared: "We are excited to partner
with an African-focused investor with experience in the agricultural sector.
The investment will enable the Company to benefit further from the federal
government's drive to promote agricultural productivity in Nigeria. It would
also allow Elephant Group to transform from an indigenous agricultural commodities
company in Nigeria to a vertically integrated pan-African player.
This
transaction will be the first ever private equity investment in the Nigeria
agricultural commodities sector and we view it as a strong vote of confidence
in the company".Senior Partner and Managing Director of AfricInvest in
Nigeria, Abiola Ojo-Osagie said the partnership with the Elephant Group would
enable the firm to take advantage of the opportunity to capitalise in Nigeria's
agricultural transformation agenda."We have identified a company led by
entrepreneurs and a management team with a good knowledge of the domestic
market. Our goal is to build an enduring institution with a clear potential for
growth and regional expansion," Osagie noted.Founded in 1994, Elephant Group
is the largest and fastest growing indigenous agro commodities company in
Nigeria, which imports, exports, markets and distributes rice, fertiliser and
other agro-allied commodities.
The
Company is currently ranked #4 in rice and fertiliser marketing with market
share of 8% and 10% respectively. Elephant Group owns extensive distribution
and logistics infrastructure in Nigeria and is a critical link in the supply of
main staple foods in Africa's largest and fastest growing consumer market. The
Company also has presence in Ghana, Cameroon, Senegal, Niger and Cote
d'Ivoire.Over the last three years, Elephant Group has focused on executing its
backward integration strategy. Elephant Group is also a key player in the
Growth Enhancement Support Scheme in Nigeria, supplying fertilizer in 36 states
of Nigeria.Elephant Group's strategy is aligned with the renewed focus by many
African governments on Agriculture towards ensuring food security.
As
for AfricInvest, founded in 1994 and which today ranks among the leading private
equity firms in North and Sub-Saharan Africa with about 1 billion USD of assets
under management across 13 PE funds and sponsored by prestigious DFIs, private
and institutional investors, it relies on a team of 50 highly skilled
investment professionals with over 130 years of cumulative PE experience,
operating in six offices in Tunis, Casablanca, Algiers, Lagos, Abidjan and
Nairobi.The Firm is also a co-founder of the African Venture Capital
Associations, the Emerging Markets Private Equity Association and member of the
Euromed Capital Forum.
Importer Wants To Penetrate Belize's Rice Market
posted (March 19, 2015)
posted (March 19, 2015)
Belize produces enough rice to feed itself - but an
Indian merchant wants to bring in rice from Guyana - where it's cheaper and
because he can make a profit on it.The CEO in the Ministry of Agriculture Jose
Alpuche met with the rice producers yesterday to apprise them of the situation.
He told us today that he stressed that government has no intention of granting
a license to the importer. But, it's not that simple.
Under the revised treaty of Chaguaramas which
established the Caricom Single Market and Economy - Government cannot simply
block the importation of products that come from the Caribbean to protect a
local product - and you can ask Belikin about that.Still, government is holding
its ground, but the importer has indicated that he may take dispute to COTED
which is the council for trade and economic development. The merchant has
indicated that he would present it as a trade dispute between Belize and
Guyana.Belize's Ministry of Agriculture is standing firm and saying it is not a
trade dispute. They intend to meet with producers again next week to keep them
updated on the evolving situation.
Rabi rice acreage down 10%
NEW DELHI, MARCH
20:
The area under rice in the Rabi season has dropped some 10 per
cent to 38.27 lakh hectares (lh) compared with 42.56 lh during the
corresponding period a year ago, data released by the Agriculture Ministry on
Friday which showed.Preliminary data on the sowing of summer pulses showed that
0.18 lh had been covered in Gujarat, 0.14 lh in Karnataka, 0.10 lh in West
Bengal, 0.09 lh in Uttar Pradesh and 0.05 lh each in Bihar and Madhya
Pradesh.The area under summer oilseeds had been reported as 2.19 lh in
Karnataka, 1.26 lh in Odisha, 1.22 lh in West Bengal and 0.87 lh in Gujarat.
Meanwhile, Minister of State for Agriculture Mohanbhai Kundaria
informed Parliament that Rabi crops, such as mustard, wheat, potato and pulses
had been hit in numerous parts of the country due to the unseasonal rain and
hailstorms. Foodgrains production will likely to decline by 3.2 per cent to
257.07 million tonnes (mt) in the current season to June.The Minister said that
according to reports, around 27 lh under Rabi crops had been affected. Around
614.69 lh has been sown for the Rabi seasons, 535.35 lh under foodgrains and
79.34 lh with oilseeds.Union Minister Radha Mohan Singh will visit Maharashtra
and Kundaria is undertaking a visit to Gujarat while Sanjeev Balyan, also
Minister of State for Agriculture, is already in Uttar Pradesh to assess crop
damage.
Meanwhile, the Agriculture Ministry has assigned officials to
different States for assessing the damage to crops .RP Singh, Director,
Directorate of Cotton Development, will assess the damage in Maharashtra; AK
Tiwari, Director, Directorate of Pulses Development in Madhya Pradesh; MC
Diwakar, Director, Directorate of Sugarcane Development in Uttar Pradesh;
Narender Kumar, Director-in-charge, Directorate of Wheat Development in
Haryana; A Ansari, Statistical Investigator, Directorate of Millets Development
in Rajasthan; Subhash Chander, Joint Director, Directorate of Millets
Development in Gujarat.Mahesh Kumar, Assistant Director, Directorate of Wheat
Development will survey Punjab.
(This article was published on March 20, 2015)
Rice exports to Nigeria slip as
shippers turn cautious
Reuters
Presidential poll results
awaited; insurgency, currency depreciation add to concerns
BENGALURU, MARCH
20:
A sharp decline in crude oil price coupled with a fall in
currency in the violence-hit Nigeria has made the Indian non-basmati rice
exporters turn cautious. As a result, shipments to the African nation have
slowed in the recent past. Indian exporters are keenly watching the forthcoming
presidential elections on March 28, after which they expect shipments to pick
up.Nigeria, where insurgency in the form of Boko Haram is on the rise
triggering violence in the recent past, is one of the largest buyers of par-boiled
rice. Indian exports account for close to half of the 2.5 million tonnes that
the African nation imports. Nigeria accounts for close to a fourth of India’s
non-basmati rice shipments. Thailand is the other major exporter of rice to
Nigeria.
Slow exports
“Shipments are slow in the first half and it is a kind of
uncertain situation. There is distress in the market as developments in Nigeria
are influencing prices. We expect shipments to pick up once the elections are
over,” said BV Krishna Rao, Managing Director of Pattabhi Agro Foods Pvt Ltd, a
large exporter.Rao said the non-basmati rice exports to Nigeria are estimated
at around a lakh tonnes so far this calendar year, against about 2-3 lakh
tonnes in corresponding period a year ago.
Sliding currency
Grains trade analyst Tejinder Narang said the biggest problem
being faced by Nigeria is the fall in crude oil prices and a huge depreciation
in the currency. Nigerian Niara has depreciated by 25-30 per cent in the last
few months. Also, the availability of foreign exchange is an issue for the
traders. These issues coupled with the delayed elections and politics
associated with it have slowed rice exports, Narang said.However, S Venkatesh,
Head-Rice Desk at Ruchi Soya Industries Ltd, sought to downplay the slowdown in
shipments to Nigeria.“Their currency has depreciated by about 25 per cent and
oil prices are down. But rice, the cheapest cereal, is what they cannot avoid,”
Venkatesh said, adding that there was a general slowdown in offtake.He said the
main issue was the forthcoming presidential elections after which shipments
could pick up.
Global competition
Rao said Indian exporters have not faced any payment issues so
far in Nigeria. India this year is facing stiff competition from Thailand,
which is dumping the old cargo in market, while Vietnam has turned aggressive,
Rao said.According to Apeda, non-basmati rice shipments have increased 14 per
cent in rupee terms at ₹16,670 crore for the April-January period of the current
financial year against ₹14,614 crore in the year-ago period.In quantity terms, shipments
for the April-January period stood at 6.64 million tonnes against 5.87 million
tonnes.In the same period, basmati shipments, impacted by a ban imposed by the
largest buyer Iran, were down by about 3.28 per cent valued at ₹22,740 crore against ₹23,510 crore in corresponding
last year.
(This article was published on March 20, 2015)
Commerce delays third rice
auction
20
Mar 2015 at 16:04
A farmer in Suphan Buri use a harvesting truck
to harvest rice from their field on March 16, 2015. (Photo by Thanarak Khunton)
The Commerce Ministry has delayed the next
auction of rice from the government stockpile to avoid bringing down the price
during the second-crop harvest.Commerce Minister Chatchai Sarikulya said the
domestic paddy price had declined during the harvest, so the ministry had
delayed the third auction to prevent it sliding even lower.According to the
Office of Agricultural Economics, the price of ordinary white rice (15%
moisture content) in Phitsanulok was 7,800 baht a tonne on Friday,
and Hom Mali rice in Surin was at 13,000 baht.
He said the ministry expected the price would
rise in the near future, because Thailand has an order to deliver 200,000
tonnes of rice to the Philippines and the Foreign Trade Department is in the
process of selling two million tonnes to China. Gen Chatchai said
the ministry had ordered the setting up of 60 central farm markets
nationwide to provide a direct marketing channel for farmers and ensure they
get fair prices. Get full Bangkok Post printed newspaper experience on
your digital devices with Bangkok Post e-newspaper. Try it
out, it's totally free for 7 days.
Rice exports up 6 pc at 8.44
million ton in Apr-Dec 2014
By PTI | 20 Mar, 2015, 05.16PM IST
"The
balance in the INR Vostro Account of Iranian Commercial Banks
with UCO Bank as on March 16, 2015
is Rs 17,895.50 crore," she added.New Delhi, Mar 20 (PTI)
India's rice exports rose by 6.1 per cent to 8.44 million tonnes during the
April-December period of current fiscal compared to 7.95 million tonnes in the
same period of 2013-14.In value terms, rice exports stood at Rs 35,157.38 crore
during the period this fiscal against Rs 33,647.45 crore in the year ago
period, Parliament was informed today.Export of basmati rice during the
nine-month period of this fiscal declined by 6.19 per cent to 2.57 million
tonnes from 2.74 million tonnes in the same period last year, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
Iran
is the largest importer of basmati rice from India. "During the current
year, Iran had significant carry over stocks from domestic
production and heavy imports in past two years and hence has imposed a
restriction on issue of import permits from October 2014," she said.
Exports to Iran
during the nine-month period declined to 705.52 thousand tonnes as against 1.18
million tonnes during the same period last year.Other major export destinations
for basmati rice are Saudi Arabia, Iraq, Kuwait and the UAE. Major export
destinations of non-basmati rice include Benin, Bangladesh, Senegal, South Africa and Liberia.Replying to a
separate question, the Minister said India's
automobile exports have increased by 16.92 per cent at 3,322,581 units during
April-February this fiscal.
In
2013-14, it was 3,107,893 units as against 2,898,907 units in
2012-13."There is no significant fall as such in passenger vehicle
exports," she said.In a separate question on third country export to Iran,
she said the government has issued guidelines for allowing third country export
of humanitarian goods (food, medicines and medical equipment) to Iran as part
of oil payments due to that country.
"Ministry
of Finance has decided that payments to the extent of USD 100 million per
month for such third country exports to Iran would be allowed from the 45 per
cent INR (domestic currency) vostro account (a kind of payment settlement
mechanism) held with the UCO Bank," Sitharaman said.Payment over and above
USD 100 million per month would be met from 55 per cent Euro component, the
Minister said."The balance in the INR Vostro Account of Iranian Commercial
Banks with UCO BankBSE -1.21 % as on March 16, 2015 is Rs 17,895.50 crore," she added.
Download/View On-Line the above News
in pdf format,just click the following link
Subscribe to:
Posts (Atom)