RI considers
importing
rice from Pakistan
Khoirul Amin, The Jakarta Post, Manila, The Philippines |
Business | Thu, November 19 2015, 5:28 PM
The government will soon sign a rice import deal with Pakistan
to secure a food supply for Indonesians after its earlier plan to import the
staple from Vietnam and Thailand failed when the Philippines bought out the
commodity from them beforehand.Trade Minister Thomas Trikasih Lembong said
during this week’s Asia-Pacific Economic Cooperation (APEC) leaders meeting in
Manila that his ministry had been trying to accelerate discussions with
Pakistan’s Trade Ministry to formulate a legal framework for rice imports.
“So far, we’re still ‘chasing’ Pakistan’s trade minister to immediately sign a
memorandum of understanding (MoU),” he said.
He went on to say that once an agreement was reached with Pakistan, Indonesia
would send a team from the State Logistics Agency (Bulog) to verify Pakistan’s
rice supply.According to Thomas, Pakistan has previously stated that it could
potentially supply 500,000 tons of rice to Indonesia. The supply, however,
would probably just enter into the Indonesia’s market next year as there were
only six weeks left before the end of this year, while negotiations were still
ongoing, he added.Bulog’s rice reserves stood at between 1.3 and 1.4 million
tons as of Oct. 25, which was estimated to meet only half of the country’s
monthly consumption of 2.5 million tons.
The situation has sent a signal that there is an insufficient
supply to meet the growing domestic demand for the staple food.The government
had previously announced it planned to import a total of 1.5 million tons of
rice from Thailand and Vietnam this year, with around 1 million tons already
secured.The country was, however, overtaken by the Philippines, which bought
the 1.5 million tons of rice from the two rice producers. The Philippines’
import figures are far higher than its normal annual imports of between 500,000
and 700,000 tons.Vice President Jusuf Kalla said in front of business leaders
at the APEC summit that importing rice this year was inevitable for Indonesia
because its domestic production has slumped because of the El Niño weather
phenomenon.
El Niño could lead to severe droughts, floods and fluctuating crop yields in
the Pacific equatorial region, including Indonesia.“But for next year, if the
weather is good, I think we will not import more rice,” Jusuf said.Meanwhile,
Thomas said the government would be more closely monitoring national rice
supply and demand next year to prevent soaring prices caused by an insufficient
supply within the domestic market.He said that his ministry would start
formulating annual import plans for essential food commodities, such as beef,
sugar and rice.“Secondly, we will develop market intelligence that will review
possibilities to find international sources of rice, even if [it has to be]
Brazil. Bulog has also previously attempted to include Myanmar and Cambodia,”
he said.
An insufficient supply of rice in the country has caused soaring prices, which
are expected to hit low-income people hard, as about 60 percent of their cost
of living will be taken up by food.
Average price of medium-quality rice hit Rp 10,536 (76 US cents) per kilogram
(kg), far higher than its normal price of Rp 8,500 per kg, according to data
from the Trade Ministry.
Rice price escalation unlikely, says Fadnavis
11/19/2015
Free Press Journal (India)
Mumbai : Chief
Minister Devendra Fadnavis has said that the state has enough stocks of rice
and the prices are unlikely to escalate, and also appealed to people not to
worry.Industry body Assocham, in its study earlier this week, had predicted
that due to the failed Kharif season rice prices may escalate just like those
of pulses and onion earlier this year.However, the statement issued by the
Chief Minister's Office said that the state government is already providing
rice at Rs 3 per kg to over 7.5 crore people of the state and will continue
doing so as there is adequate stock of rice in the state and the government has
also made good purchases of rice.While implementing the National Food Security
ordinance, the state decided to give the benefit of the scheme to 7.17 crore
beneficiaries of the public distribution system.
The beneficiaries
of the Antyodaya scheme are getting 35 kg per family per month and
beneficiaries of food security scheme are getting 5 kg per person per month.A
total of 1,68,425 tonnes of rice is being distributed under these schemes every
month at the rate of Rs 3 per kg. Moreover, the government is also providing
over 13,600 tonnes of rice for the farmers' families in drought hit districts,
the statement said.
"The fact
that the government is able to distribute over 1.82 lakh tonnes of rice to over
7.68 crore beneficiaries at subsidised rates itself suggests that most of the
people of the state have benefitted from the scheme. The state has adequate
stock to continue running the scheme and the purchases too are adequate,"
Fadnavis said in his statement.Current price trend in the rice market, too, is
lower compared to last year's prices, a CMO official pointed out. While the
prices of non-basmati rice are around 15% lower than the last year's rates, the
prices of basmati rice have declined sharply by about 30%.The Assocham study
had said rice stocks have declined in last three years from 24.59 million
tonnes in 2012 to 13.89 million tonnes (plus unlimited paddy 3.61 tonnes) in
stocks at present.
"Increasing export outgo on account of PDS (Public Distribution
System) and other welfare schemes will continue to weigh on availability in the
open market. Unless government is able to handle the situation prudently,
depleting stocks will soon reflect on the open market prices," the study
had argued.
http://www.world-grain.com/news/news%20home/LexisNexisArticle.aspx?articleid=2484893404
Rice basmati
remains up on increased buying
Press
Trust of India | New Delhi November
19, 2015 Last Updated at 14:13 IST
Rice basmati prices rose further
up to to Rs 300 per quintal at the wholesale grain market today on increased
stockist buying against restricted supplies from producing regions.
However, maize eased on reduced offtake by consuming industries. Traders said
increased buying by stockists in the face of restricted supplies from producing
regions mainly kept rice basmati prices higher. The said reports of a likely
fall in its kharif output further fuelled the uptrend in rice basmati prices.
In the national capital, rice basmati common and Pusa-1121 variety edged higher
to Rs 5,000-5,400 and Rs 4,200-5,000 from previous levels of Rs 5,000-5,100 and
Rs 4,100-4,800 per quintal respectively. Shri Lal Mahal rice moved up by Rs 300
to Rs 10,800 per quintal. Non-basmati rice permal raw, wand, sela and IR-8 also
finished higher at Rs 1,800-1,825, Rs 1,950-2,050, Rs 2,350-2,450 and Rs
1,680-1,700 from previous close of Rs 1,700-1,750, Rs 1,850-1,870,Rs
2,250-2,350 and Rs 1,600-1,615 per quintal respectively in line with rice
basmati firming trend. On the other hand, maize fell by Rs 30 to Rs 1,500-1,550
per quintal.
Following are today's quotations (in Rs per quintal):
Wheat MP (desi) Rs 2,000-2,600, Wheat dara (for mills) Rs 1,685-1,715, Chakki
atta (delivery) Rs 1,705-1,720, Atta Rajdhani (10 kg) Rs 230, Shakti Bhog (10
kg) Rs 230, Roller flour mill Rs 900-905 (50 kg), Maida Rs 945-950 (50 kg) and
Sooji Rs 1,090-1,095 (50 kg).
Basmati rice (Lal Quila) Rs 10,700, Shri Lal Mahal Rs 10,800, Super Basmati Rice
Rs 9,700, Basmati common new Rs 5,000-5,400, Rice Pusa (1121) Rs 4,200-5,000,
Permal raw Rs 1,800-1,825, Permal wand Rs 1,950-2,050, Sela Rs 2,350-2,450 and
Rice IR-8 Rs 1,680-1,700, Bajra Rs 1,285-1,295, Jowar yellow Rs 1,600-1,700,
white Rs 3,100-3,200, Maize Rs 1,500-1,550, Barley Rs 1,440-1,450.
Fadnavis assures there is adequate stock
of rice
Press Trust of India
| Mumbai November 18, 2015 Last
Updated at 21:13 IST
Allaying fears of spurt in
prices of rice, Maharashtra Chief
Minister Devendra Fadnavis today said there is adequate stock of rice in state. Besides this, the state
government has purchased fresh rice stock and is now distributing rice to
people at Rs 3 per kg through the Public Distribution System, he said in a
statement issued here. Fadnavis
stated that the National Food Security scheme covers 7.17 crore population and
68 lakh farmers in 14 suicide prone districts of the state. "In all, 1.82 lakh metric
tonnes of rice will be distributed to 7.68 crore population at Rs 3 per kg
through the 52,000 fair price shops in the state," the Chief Minister
said. He termed reports
appearing in a section of the media about possibility of rise in prices of rice
as "baseless" and added that there is no cause of worry for the
people.
Bio-fortified rice, food crops to
hit market in 2 years
Bio-fortified rice and other food
crops will be made available in the market within two years, said V. Ravindra
Babu, director, ICAR-Indian Institute of Rice Research. The rice variety
developed in IIRR will have zinc and protein content.The institute is also
conducting bio-fortification research on eight other crops including wheat,
sorghum and bajra among others. Bio-fortified crops have medical properties and
are good for newborns and nursing mothers. He was speaking on the sidelines of
a media conference held to announce the dates for International Rice Symposium-
2015 where farmers, academics, researchers and industry experts collaborate and
hold dialogues with one another.
USA Rice Attends Annual Trade Workshop
Telling USA Rice's positive trade story
BALTIMORE, MD -- The U.S. Agricultural Export
Development Council (USAEDC) held its annual workshop here earlier this week
where over 70 commodity trade associations/stage regional trade groups and
nearly a dozen marketing/research companies met to hear the U.S. Department of
Agriculture's (USDA) updates and current agricultural, economic, and political
trends.
The keynote speaker, USDA's Farm and Foreign
Agricultural Services Deputy Under Secretary Alexis Taylor, shared the
Department's positive view of the recently concluded Trans Pacific Partnership
(TPP) agreement as well as the Department's continued efforts to expand trade
opportunities for U.S. agriculture. In
addition to agriculture updates, Charlie Cook, an entertaining political
speaker, gave his predictions for the 2016 presidential election which promises
to be a unique race.
There were several panel discussions on USDA's
current Global Broad-based Initiatives (GBIs), programs designed to help
industry partners engage in common areas across specific markets. USA Rice is participating in four GBIs. USA Rice Vice President of International
Promotion Jim Guinn gave an update for the "GBIs in Africa" panel,
reporting that USA Rice is the lead organization for the consumer promotion
activities in Ghana, conducting three seminars involving rice, poultry, and
peanut butter to Ghana's burgeoning foodservice sector. Each seminar brought in 230-350 foodservice
attendees.
"Thanks to the assistance from FAS, we are
able to conduct meaningful activities in the Golden Triangle, an area which
represents an estimated 85 percent of food consumption in Ghana," said Jim
Guinn. "These activities are efficient
at increasing awareness and preference for U.S. products." The final event of this GBI was held
yesterday in Accra (see USA Rice Daily November 18, 2015).
Contact:
Sarah Moran (703) 236-1457
Weekly Rice Sales, Exports Reported
WASHINGTON, DC -- Net rice sales of 43,600 MT
for 2015/2016 were up 22 percent from the previous week, but down 41 percent
from the prior four-week average, according to today's Export Sales Highlights
report. Increases were reported for
Haiti (28,300 MT), Guatemala (6,600 MT, including 6,000 MT switched from
unknown destinations), Mexico (2,700 MT), Canada (2,400 MT), and Jordan (1,600
MT). Reductions were reported for
unknown destinations (1,000 MT) and Iran (600 MT).
Exports of 110,200 MT, up noticeably from the previous
week and from the prior four-week average, were reported to Iran (29,400 MT),
Honduras (22,500 MT), Haiti (21,300 MT), Mexico (10,400 MT), and Colombia
(6,900 MT).
This summary is based on reports from exporters
from the period November 6-12, 2015.
CME Group/Closing Rough Rice Futures
|
CME Group (Prelim): Closing Rough Rice Futures for November 19
|
January 2016
|
$11.845
|
+ $0.005
|
|
March 2016
|
$12.110
|
+ $0.005
|
|
May 2016
|
$12.395
|
UNCH
|
|
July 2016
|
$12.650
|
+ $0.005
|
|
September 2016
|
$12.350
|
+ $0.005
|
|
November 2016
|
$12.350
|
+ $0.005
|
|
January 2017
|
12.350
|
+ $0.005
|
|
The importance of rice breeding
in the Mid-South
A chat with Jarrod Hardke
Arkansas produces the most rice of any state and it stands to
reason that state researchers are hard at work to keep it that way. One key
piece to that puzzle: making sure a breeding program remains robust.In early
November, Jarrod Hardke, rice Extension agronomist for the University of
Arkansas Division of Agriculture, spoke with Delta Farm Press about the
program, the process for bringing a new variety to producers and an extremely
promising cultivar waiting in the wings. Among his comments:
On the rice breeding process and
research in Arkansas…
“I lead the Arkansas Rice
Performance Trials (ARPTs), which are our standardized trials for evaluating
commercial cultivars, releases from other universities we may not have a great
deal of information on, and a vast number of lead experimental lines out of the
University of Arkansas. This is our most advanced yield testing program so,
once entries make it that far they’ve shown great promise in the preliminary
processes of variety development.
“We try to plant in five or six
ARPT locations throughout the state each year. There are a total of 90 entries of
which there are about 20 commercial and 70 experimental entries annually.
Really, we have developed consistent ‘homes’ for the five or six locations.
Among them, one is always planted at the Rice Research and Experiment Station
in Stuttgart; one is at Pine Tree Station near Colt; one at the Northeast
Research and Extension Center in Keiser.
spots with different soil types.
However, because they don’t reach the full extent of the state, we plant
another trial on a grower’s field in Clay County. That gets us to the most
northern part of the state. Another trial goes in a grower field in Desha
County, which puts us in the southern part of the state.
“In those trials we’re evaluating
grain yield and milling yield for quality. Samples are sent off to check all
the industry grain characteristics including chalk, amylose content, gel
temperature, all the things that will have an effect on how the rice will be
processed.”
Rice importation ban extended to September 2016
- Minister Jobe
Thursday, November 19, 2015
Minister of Trade, Industry, Regional Integration and Employment
has said the banning of rice importation, which was to take effect by the end
of December 2015, has been extended to September 2016.Minister Abdou Jobe made this revelation
in an interview with The Point yesterday at his office in Banjul.The extension
of the deadline for importing rice into the country is an executive decision
from the Presidency, the Trade minister said.“Based on the President’s wisdom
for his overreaching global holistic view in the interest of the country, he
decided to extend the banning of rice importation from December 2015 to
September 2016,” the minister announced.
Minister Jobe said that as a minister,
working under the guidance and advice of the President, he has notified all
players in the business community, especially those dealing in rice
importation, of the latest development.“We have notified all the stakeholders,
including rice importers, as well as the Gambia Chamber of Commerce Industry
(GCCI), which is responsible for dealing with the private sector, to inform
them of the executive decision about the extension of the deadline on banning
rice importation into the country,” Minister Jobe said.“I believe that The
Point newspaper, being a very proactive media company and coming to enquire
about the veracity of the information; if it is published in the paper, people
would be fully informed.”It would be recalled that about US$50 million was
being spent annually on rice importation from Thailand, India and Brazil, for
about 175,500 metric tonnes of rice, while local production of rice stood at
24,895 metric tonnes.
On EU’s
€1.8 billion to curb migration
Minister
Jobe also commented on the €1.8 billion the European Union has decided to give
African countries to control and limit the undesirable migration from Africa to
Europe through the ‘back way’, especially undertaken by African youths.“I
represented the President as a head of (The Gambian) delegation accompanied by
two ministers and permanent secretaries to attend the AU-Summit in Malta, where
the European Union has pledged 1.8 billion euro and other member countries
pledged to top up the amount that the EU has pledged.
”As a
beneficiary country, he added, The Gambia has developed an action plan, which
will be concretized to support job creation and skills development for Gambian
youths.The minister continued: “Prior to the summit, the Ministry of the
Interior, which is a focal point for migration in The Gambia, has been
coordinating project proposals on youth empowerment. This will be concretized
for job creation opportunities and skills development for Gambian youths.”Since
it is also the responsibility of the Gambia government to do something about
it, the ministries have been tasked to carry out the project initiatives, he
went on.“We will continue to work together as a country and rally behind
President Jammeh to achieve the laudable development objectives for sustainable
development,” Minister Jobe said.
Author: Abdou Rahman Sallah
Source: Picture:
Minister Abdou Jobe
Farmers in state receive $160.4M
2014 farm bill, according to the
U.S. Department of Agriculture.This is the first time farmers have gotten
payments under the legislation, which provides assistance only when markets or
yields are down. Previous farm bills issued payments regardless of market
conditions or crop yield to provide farmers with a minimum guaranteed income.Randy
Veach, president of the Arkansas Farm Bureau Federation, said Wednesday that
the safety-net payments would provide some help to Arkansas farmers hurt by
falling commodity prices and lower yields. But he said the payments wouldn't
enable farmers to make a profit."We'd a lot rather have better prices in
the market than to have [the safety-net] payments," said Veach, who farms
cotton, rice and soybeans in northeast Arkansas.
Operators of 16,339 Arkansas
farms will receive safety-net payments for the 2014 market year, the USDA said
in a news release. A total of 74,694 Arkansas farms participated in the
programs, which means 58,355 farms in the state didn't qualify for payments.The
payment total will rise over the next few weeks. About 80 percent of the checks
due to Arkansas farmers had been mailed as of Nov. 3, a USDA spokesman said
Wednesday.The 2014 farm bill was written at a time of high commodity prices,
and supporters said it would save the federal government billions of dollars
over 10 years. Since then, commodity prices have plunged, and the USDA now
forecasts that net farm income in the United States, adjusted for inflation,
will fall 53 percent from where it was two years ago, from $123.7 billion in
2013 to $58.3 billion in 2015.
The net farm income figure
includes profits from beef, pork, poultry and crops, but the head of AgHeritage
Farm Credit Services in Arkansas said recently that average crop prices were
down 35 percent this year.Under the 2014 farm legislation, farmers had to
choose between two safety-net programs for five years. The Price Loss Coverage
Program, which the USDA says was selected by more than 90 percent of the
state's rice growers, makes payments when market-year average prices are below reference
prices."For example, 29 counties in Arkansas harvest long-grain rice, and
long-grain rice producers have experienced a 15 percent drop below the
historical benchmark price established by the PLC program," said Linda
Newkirk, executive director of the USDA's Arkansas Farm Services Agency.
Through Nov. 3, Arkansas farmers
have received $146,695,326 under the Price Loss Coverage Program, according to
the USDA. The payment rate for rice was about 2 cents per pound, compared with
a rate of 2.35 cents per pound in 2014 under the old direct payment system, a
USDA spokesman said.The second program, called Agriculture Risk Coverage,
created payment rates for each county by comparing historical average crop
yields and prices with 2014 actual yields and prices. Payment rates can vary
among counties.Through Nov. 3, Arkansas farmers have received $13,714,515 in
Agriculture Risk Coverage payments, according to the USDA. Most of the money
went to soybean, corn and grain sorghum growers, the agency said.
Nationwide, payments for both
programs through Nov. 3 totaled more than $4.5 billion, the USDA said.The
payments were subject to a 6.8 percent reduction as a result of the mandatory
federal budget cuts known as sequestration.Veach said it was still too early to
judge the effectiveness of the 2014 farm legislation. He said 2015, for which
farmers will receive safety-net payments in late 2016, would provide a good
test because it combined low prices in the markets with generally low crop
yields in Arkansas."We're just now getting a glimpse of the kind of safety
net we have or don't have," he said.
Prices for January 2016 rice fell
22.5 cents Wednesday, to close at $11.84 per hundredweight.
Rice prices were about $14 per
hundredweight at this time last year, Veach said, adding that it was unlikely
they would return to that level in the near future.
Business on 11/19/2015
Discovering Pakistan
Mahander Dev leads a group of students in a
traditional dance. Photo by Alex Bertsch/ The Dakota Student.Members of the UND
community gathered last week to celebrate Pakistan Culture Night in the
Memorial Union.The event offered an opportunity for attendees to learn more
about Pakistan.It opened with the Pakistan’s national anthem, the Qaumi Taranah
(“The Sacred Land”). Kaleemullah Sandhu, a Pakistani exchange student studying
mechanical engineering at UND, gave a presentation on life in Pakistan.Pakistan
became an independent country in 1947, and more than 95 percent of the
population of Pakistan is Muslim. With a population of just under 200 million
people, it is the seventh most populous country in the world. It borders India,
China, Afghanistan, Iran and the Arabian Sea.Sandhu clarified that while many
people think people in Pakistan speak Arabic, the national language is actually
Urdu. English is widely spoken and there are dozens of local regional
languages. The name Pakistan means “Land of the Pure” in Urdu.“The Pakistani
flag, the green portion represents that Pakistan is a Muslim country, and the
white portion represents the minorities,” Sandhu said. “The flag symbolizes
that we respect the minorities that live in Pakistan.”Sandhu studies at the
National University of Science and Technology in Islamabad, which is the
capital city of Pakistan. The country is home to more than 170 universities.A
music video of the song “Tamasha” by Khumariyaan was played to show an example
of popular modern music in Pakistan. The group is known in Pakistan for their
ability to combine traditional folk style of pakistani music with a modern
twist.Sandhu highlighted several well known Pakistanis, including Abdul Sattar
Edhi and Abdus Salam. Edhi is considered to be one of the greatest
humanitarians in the world and has been running his foundation in Pakistan
since 1947.This foundation includes many initiatives to help the poor and sick,
including the largest ambulance service in the world. Salam was the first
pakistani to receive a Nobel Peace prize, which he received for his study in
physics in 1979.Mahender Dev, an electrical engineering exchange student from
Pakistan, led a group of students in a traditional dance to conclude the
presentation. Ifrah Wali, a marketing student at UND, displayed some Pakistani
clothing for attendees to examine after the presentation. Dev, Wali and Sandhu
all expressed the positive experience they have had so far at UND, and they
will be returning to Pakistan at the end of the semester to finish their
studies in Pakistan.Following the presentation, the attendees enjoyed Chicken
Biryani, rice, and Kheer. Chicken Biryani, like other popular Pakistani
cuisine, is spicy and highly seasoned. Kheer is a a sweetened rice pudding that
is commonly served through south Asia.Sean Cleary is a staff writer for The
Dakota Student. He can be reached at sean.d.cleary@my.und.edu
- See more at:
http://dakotastudent.com/7245/news/discovering-pakistan/#sthash.zLvzl7nw.dpuf
http://dakotastudent.com/7245/news/discovering-pakistan/
Written by Bettie Johnson/
betty.johnson@frontpageafricaonline.com
Published: 17 November 2015
Monrovia - The presiding judge of the Civil
Law Court has ordered the United Commodities Incorporated a dealer in rice on
the Liberian market to pay US$2,385,800.00 to the ECOWAS Bank for Investment
and Development (EBID) instead of US$6,679,503 as claimed by the Bank in a
petition filed before the court. The ruling of the judge followed 15 counts for
declaratory judgment filed by the United Commodities Incorporated relying upon
section 43 of the Civil Procedure law.In its petition, UCI (petitioner) stated
that that rice were under the control of a collateral manager, the ACE Global,
an agent of the respondent (EBID) adding that they cannot be held responsible
to answer for such damages or pay the value of the damage goods caused by the outbreak
of the Ebola virus.“That once the damaged portion of the consignment were
disposed of by the competent authorities in the presence of representatives of
the respondent represented by LBDI or ACE Global, the collateral manager, the
ministry of Commerce and other stakeholders, the petitioner or borrower cannot
be held liable to pay such damage portion of the rice,” UCI argued.“The rice
was stored in a warehouse under a collateral management arrangement, any damage
thereto based on nature causes, should be the responsibility of insurance
company that insured the consignment.” The petitioner prayed the Court that
they should be responsible to pay to the Respondent herein the amount generated
by the petitioner from the auctioned portion of the rice which totaled US
$2,386,000.00.“That the value of the damaged rice which totals US$6,679,503.78
cannot and should not be the responsibility of the petitioner giving the fact
and circumstances of the case,” UCI stated in its petition. The petitioner
disclosed that the value of the damaged rice which total US$6,679,503.78 cannot
and should not be the responsibility of the petitioner giving the fact and
circumstances of the case, said UCI.According to the petitioner, they requested
or apply to EBID for a 12 million letter of credit for the importation and
distribution in Liberia of the total of 21 thousand metric tons of rice at the
price of US$ 596.06 or metric tons CIF Monrovia. A loan agreement was executed
and several documents were signed including a field warehousing and storage
agreement contract where the parties agreed to place the rice to be imported
under the loan agreement under a collateral manager.Citing section 11.1 of the
field warehousing and storage agreement, the petitioner or the respondent on behalf
of the petitioner shall at all cost obtain an insurance company approved by the
respondent, insurance for the goods. Section 11.4 of the same agreement also
provided that where no insurance had been procured whatsoever in terms and on
the conditions set out in that agreement, the obligations hereunder shall be
assumed at the sole risk of the respondent and that the respondent bears the
risk of lost in the absence of any such insurance.In counter argument, the
respondent filed a twenty counts return challenging the jurisdiction of the
court over its persons for reason that the writ of summons was served on them
through the Liberia Bank for Development and Investment as the respondent’s
purported agent adding that the bank was not an agent for the respondent for
the purpose of receiving court’s precepts. A motion to dismiss the petitioner’s
petition was filed by the respondent but was dismissed by the court.In the
court’s ruling Judge Yussif Kaba said the terms and condition of the contract
consummated by and between the petitioner herein and the respondent freely and
in the absence of undue influence, is fully binding on the parties and all
terms and condition contain therein are binding upon the parties.“That in the
face of article 11 of the warehouse and storage agreement, more specifically
section 11.4 thereof it was the obligation of the respondent bank under the
binding agreements executed by and between the parties, to ensure that all
times especially during the period when the respondent bank invoked article
10.2 of the loan agreement, to have procure an insurance policy to cover the
goods that were covered by the loan agreement and therefore the failure of the
respondent bank to secure such insurance policy to cover the goods as provided
for by section 11.4 of the warehousing and storage agreement.”
Continued Judge Kaba: “the petitioner cannot and should not be held for damages
sustained as the consequent of the 3,2945.95 metric tons of rice, and the 3,356
metric tons of rice which all of which were damaged and disposed at the value
of US$6,679,503.78. He said the portion of the rice which was turned over to
the petitioner herein and auctioned by the petitioner in the tune of
US$2,385,000.00 should be the responsibility of the petitioner and the petitioner
shall be held to pay. Following the ruling, the respondent ECOWAS Bank took
exception to the judge’s ruling announcing an appeal to the Supreme Court.
CBE regulates exporting rice
New decision by the bank lists
rice among the commodities that should be exported through Egyptian banks
Central Bank of Egypt
(CBE) issued new instructions to regulate exporting rice to abroad.
The CBE’s instructions stipulate
listing rice among the commodities that exporters must complete exporting
procedures for through the banks operating in the Egyptian market. Moreover the
exporter must obtain a document proving that the exporter did so to submit it
to the concerned customs office before the shipping.The CBE issued in April
2013 instructions to banks to adhere to decision No. 235/2013 of the Ministry
of Industry that stipulates exporting 13 commodities through one of the banks
operating in Egypt.The commodities subjected to these instructions include gold
and gold jewellery, urea, copper rolls, iron or steel plates, iron or steel
sticks, carbon black, anhydrous ammonia, cotton, crude aluminium, cane or beet
sugar, cement, raw marble and granite, or that which is initially polished, or
only cut through sawing or other methods.
The CBE’s instructions stipulate
that the bank should issue a document for the exporters of these commodities,
as long as the banks receive a written guarantee from the exporter including
the period for the exports’ proceeds, and that the proceeds will be placed in
accounts at the bank that issued the document.
If the proceeds are not received
within a maximum of 180 days from the shipping date, or the exporter does not
provide the date of receiving the proceeds, within a maximum of a year from the
shipping date, and after following up with the client, the bank that issued the
document must report to the CBE. The defaulting client’s data will then be
circulated in the banking sector, and the client is listed as a defaulter, in
order to prevent any future operations.
The bank must also report also
Ministry of Trade and Industry, the foreign trade sector, and the Egyptian
Customs Authority, to take the necessary procedures towards the defaulting
client.
New restaurant brings authentic taste of the Holy Land to Utah
Valley
GALILEE GRILL & BAKERY OPENS IN LINDON
New
restaurant brings authentic taste of the Holy Land to Utah Valley
Galilee
Grill & Bakery opens in Lindon
We heard it through the grapevine.Lindon residents have been
raving about a new restaurant that recently opened, bringing new food flavors
to the area. Galilee Grill & Bakery has centered its menu around foods
from the Holy Land. The owner, Ehab Abunuwara, sought to share family recipes
and experiences from Nazareth -- his hometown -- and Jerusalem with Utah
Valley. He was particularly frustrated with the lack of decent pita bread here
-- I don't blame him.
But alas, we no longer have to suffer stiff store-bought pita
from the supermarket because Abunuwara is supplying fresh, homemade pita, after
having a machine designed by his father in Israel and engineered in Lehi, in
the restaurant.
This pita! While waiting for my abnormally large order to be
served, I snatched my one pita bread offered with two flavors of olive oil or
balsamic vinegar. While the selection of oils and vinegars was exciting and
varied, I settled on sampling the Blood Orange Olive Oil and Pistachio
Balsamic. Every bite was tasty; I could see diners making the trip to this
restaurant solely to stock up on pita and delicious dipping sauces.
I tried Middle Eastern cuisine for the first time while studying
in Israel several years ago. I believe the moment I became enamored was my
first bite of fresh baklava -- a pastry made of flaky layers often filled with
nuts and syrup -- that was served in a corner store in the evenings during
Ramadan. It was sticky and sweet and covered in honey, and we proceeded to dine
on it every night like it was our bread and butter instead of the dessert it
was.
Since then, I've also dreamed of the five shekel falafel
sandwiches I'd grab in the Old City from my favorite vendor, and whenever I've
stumbled upon a Middle Eastern restaurant in the U.S., I'd stop and pray the
food would be authentic enough to take me back to those busy streets in
Jerusalem filled with bustling people and narrow alleys perfumed with the smell
of a dozen spices.
So, logically I ordered a falafel sandwich, among other plates
from Galilee's menu. The sandwich included falafel -- fried balls typically
made with ground chickpeas -- with hummus, tahini sauce, various fresh and
pickled vegetables and sauces wrapped in pita. I asked the worker for a little
hot sauce on mine, and when I took my first bite and closed my eyes I could
almost feel Jerusalem's uneven stone streets beneath me; I've yet to find an
American place that stuffed a falafel sandwich with french fries like my
favorite Israel joint did. Nonetheless, I'll be going back for the falafel.
And on my next trip, I'll be coming back for the lamb as well.
Those familiar with Middle Eastern cuisine will know lamb is just as much a
staple and commonality as falafel, hummus and sesame seeds. In thinly sliced
strips, the lamb in the Lamb Shwarma Plate was tender and tangy. Paired with
the restaurant's offering of Jasmine or Basmati Rice, it's a rare delicacy in
these parts that I hope and anticipate will be embraced.
Galilee's special at the time featured Turkish Chicken with a
side of rice, salad and hummus. The chicken was served as a juicy drumstick
cooked with simple spices, a unique plate considering many restaurants forgo
this part of the chicken nowadays.
The Kebab Plate came served with red onion and half a Roma
tomato over tasty, yet standard rice. The blackened outside of the kebabs had a
strong charred flavor, while the insides were juicy and well spiced, with a bit
of a bite to the flavor without being too hot. The onion and tomato were also
char grilled, which paired well with the meat.
The soup offerings stand out as perhaps the most traditional
menu items; the hearty Red Lentil Soup will attract those well acquainted with
this cuisine while first-comers might be better off starting with other popular
menu items.
The homemade baklava, while not quite like my idealized memory
of the desserts I ate in Jerusalem, was much better than the Greek versions of
the dessert available at other local restaurants. Typical of Middle Eastern
cuisine and desserts, it was topped and filled with finely chopped
pistachios.
For those who love cheese and more savory treats, the fatayer (a
pastry that can be stuffed with anything from spinach and meat to cheese) was
cut and made like the baklava, except the fatayer toned down the sweetness
and added cheese to the pastry along with chopped pistachios on top.
Lindon residents should consider themselves lucky to have this
Middle Eastern jewel tucked in their shopping area by Oteo, Magleby's Fresh and
Big Island Sam's. For those that haven't made the 7,000-mile trip to the Holy
Land, the 7 or so miles to Galilee Grill is one "foodcation" you can
make frequently.
Daily Herald Managing Editor and Digital Director Jordan
Carroll can be reached at jcarroll@heraldextra.com or on
Twitter @jordanec
http://www.heraldextra.com/entertainment/dining/restaurants/new-restaurant-brings-authentic-taste-of-the-holy-land-to/article_56fcabb9-d6ab-52aa-afd6-b1f6ab662d4a.html
Cereal Science: Crushing Rice Krispies Reveals New Insight for
Materials (VIDEO)
First Posted: Nov 18, 2015 10:11 AM EST
Scientists have used breakfast
cereal to discover a new phenomenon in materials science: highly porous,
brittle materials can deform in different ways depending on compaction
velocity. (Photo : Flickr/Amy)
There's more to cereal than you might think. Scientists have used
breakfast cereal to discover a new phenomenon in materials science: highly
porous, brittle materials can deform in different ways depending on compaction
velocity.In this latest study, the researchers investigated compaction by using
Rice Krispies in an acrylic tube. As a piston crushed the cereal, the
experimenter could see the material being compacted. The scientists then used
microphones at the bottom and top of the tube in order to record the crushing
sounds and identify which parts of the cereal pack would crush when.
Surprisingly, though, the researchers didn't find the crackling
pattern that they expected. Instead, the microphones recoded an alternating
wave of popping.Not quite believing their ears, the researchers ran the
experiment again, watching it this time. The scientists saw that as the cereal
compacted, there was a rising band in the tube, indicating where the material
was being crushed, or deformed."It was the first time anyone had seen a
propagating compaction band in granular matter," said Julio Valdes, one of
the researchers, in a news release. "We could see it
clearly. It was beautiful."
The researchers then repeated the original experiment with the
piston depressing at different velocities. They found that, depending on the
velocity, they could see three different types of deformation in the cereal.The
findings explain the complex mechanics underlying porous, brittle material.
More specifically, the results could have applications in manufacturing as well
as in assessing the stability of snowpack after an avalanche.The findings are
published in the journal Nature Physics.
http://www.scienceworldreport.com/articles/33262/20151118/cereal-science-crushing-rice-krispies-reveals-new-insight-materials-video.htm
Arkansas Farm
Bureau Daily Commodity Report
Rice
|
High
|
Low
|
|
Long Grain Cash Bids
|
- - -
|
- - -
|
|
Long Grain New Crop
|
- - -
|
- - -
|
|
|
|
Futures:
|
|
|
|
|
High
|
Low
|
Last
|
Change
|
|
|
|
|
|
|
Jan '16
|
1197.5
|
1175.0
|
1184.5
|
+0.5
|
|
Mar '16
|
1223.0
|
1207.5
|
1211.0
|
+0.5
|
|
May '16
|
1247.0
|
1247.0
|
1239.5
|
0.0
|
|
Jul '16
|
|
|
1265.0
|
+0.5
|
|
Sep '16
|
|
|
1235.0
|
+0.5
|
|
Nov '16
|
|
|
1235.0
|
+0.5
|
|
Jan '17
|
|
|
1235.0
|
+0.5
|
|
|
Rice Comment
Rice futures
were fractionally higher. January will have resistance near $12.50 and support
begins around $11.75 . Global ending stocks for 15/16 were raised by 3 percent
(2.7 million tons) due to an increase in beginning stocks and a decrease in
consumption in the November report. The average long-grain price is projected
down $1.30 from last month to $11.50 to $12.50.
APEDA Rice
Commodity News
|
International
Benchmark Price
|
|
Price
on: 17-11-2015
|
|
Product
|
Benchmark Indicators Name
|
Price
|
|
White Sugar
|
|
1
|
CZCE White Sugar
Futures (USD/t)
|
847
|
|
2
|
Kenya Mumias
white sugar, EXW (USD/t)
|
691
|
|
3
|
Pakistani
refined sugar, EXW Akbari Mandi (USD/t)
|
559
|
|
Raisins
|
|
1
|
Californian
Thompson seedless raisins, CIF UK (GBP/t)
|
1700
|
|
2
|
South African
Thompson seedless raisins, CIF UK (GBP/t)
|
1615
|
|
Guar Gum Powder
|
|
1
|
Indian 100 mesh
3500 cps, FOB Kandla (USD/t)
|
2190
|
|
2
|
Indian 200 mesh
3500 cps basis, FOB Kandla (USD/t)
|
1530
|
|
3
|
Indian 200 mesh
5000 cps, FOB Kandla (USD/t)
|
2630
|
|
Source:agra-net
|
For
more info
|
|
|
Market Watch
|
|
Commodity-wise,
Market-wise Daily Price on 17-11-2015
|
|
Domestic
Prices
|
Unit
Price : Rs per Qty
|
|
Product
|
Market Center
|
Variety
|
Min Price
|
Max Price
|
|
Rice
|
|
1
|
Alappuzha
(Kerala)
|
Other
|
3800
|
3900
|
|
2
|
Solapur
(Maharashtra)
|
Other
|
2115
|
5225
|
|
3
|
Dhing (Assam)
|
Common
|
1700
|
2000
|
|
Wheat
|
|
1
|
Cherthala
(Kerala)
|
Other
|
2350
|
2500
|
|
2
|
Nagpur
(Maharashtra)
|
Other
|
1500
|
1640
|
|
3
|
Sainthia (West
Bengal)
|
Other
|
1615
|
1640
|
|
Pine Apple
|
|
1
|
Chala (Kerala)
|
Other
|
2000
|
2060
|
|
2
|
Ropar (Punjab)
|
Other
|
1600
|
2000
|
|
3
|
Nagpur
(Maharashtra)
|
Other
|
1000
|
2000
|
|
Cabbage
|
|
1
|
Barnala (Punjab)
|
Other
|
1000
|
1200
|
|
2
|
Shillong
(Meghalaya)
|
Other
|
1500
|
1800
|
|
3
|
Samsi
(West Bengal)
|
Other
|
990
|
1020
|
|
|
For
more info
|
|
|
Egg
|
Rs
per 100 No
|
|
Price
on 16-11-2015
|
|
Product
|
Market Center
|
Price
|
|
1
|
Ahmedabad
|
386
|
|
2
|
Chittoor
|
375
|
|
3
|
Hyderabad
|
353
|
|
|
|
|
Other International
Prices
|
Unit
Price : US$ per package
|
|
Price
on 16-11-2015
|
|
Product
|
Market Center
|
Origin
|
Variety
|
Low
|
High
|
|
Onions Dry
|
Package:
50 lb sacks
|
|
1
|
Atlanta
|
Washington
|
Yellow
|
19.50
|
22
|
|
2
|
Chicago
|
Nevada
|
Yellow
|
11
|
13
|
|
3
|
Dallas
|
Colorado
|
Yellow
|
14
|
17
|
|
Cauliflower
|
Package:
cartons film wrapped
|
|
1
|
Atlanta
|
Mexico
|
White
|
23.25
|
23.50
|
|
2
|
Dallas
|
California
|
White
|
26.50
|
30
|
|
3
|
Miami
|
California
|
White
|
20
|
24
|
|
Grapefruit
|
Package:
4/5 bushel cartons
|
|
1
|
Atlanta
|
Florida
|
Red
|
17.50
|
18
|
|
2
|
Dallas
|
Florida
|
Red
|
23
|
23.50
|
|
3
|
New
York
|
Florida
|
Red
|
26
|
26
|
|
Source:USDA
|
|
Iran’s rice import hikes despite official ban
18
NOVEMBER 2015, 17:20 (GMT+0
http://en.trend.az/iran/business/2458111.html
