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EU Rice Imports from Asian LDCs Increase Sharply
y/y in First Six Months of 2015-16
Mar 07, 2016
The European Union's
(EU) rice imports from the Least Developed Countries (LDCs) of Asia such as
Cambodia and Myanmar under the Everything But Arms (EBA) Agreement have reached
around 185,180 tons in the first six months of the crop year 2015-16 (September
2015 - February 2016), up about 42% from around 130,408 tons imported during
the same period last year, according to data from the European Commission (EC).
The EC data shows that
imports from Cambodia (which account for about 83% of total imports from Asian
LDCs in September 2015 - February 2016) increased about 51% to around 154,020
tons from around 102,184 tons during the same period last year. Meanwhile, rice
imports from Myanmar (which account for about 15% of total imports from Asian LDCs
in the first six months of 2015-16) have increased about 12% to around 28,348
tons from around 25,350 tons during the same period last year.
China Seeks to Stabilize Grain Production, Prices and Reduce Imports by
2020
The
government of China is planning to stabilize total grain, including rice,
production and prices by 2020, and rely less on foreign imports, Daily News
quoted the Agriculture Minister.
Addressing the annual
legislature meeting in Beijing, the Minister noted that the country aims to
improve mechanisms for grains pricing and enhance its stockpiling system. The
government is reportedly expecting the total grains output to exceed 550
million tons in 2016.
Recently, the Chinese
Premier prioritized increasing the agricultural production to ensure food
security in the country. He has urged the local grain producing companies to
take lead in developing genetically modified (GM) crops to boost gain
production.
Meanwhile, analysts
are criticizing the government's grain procurement policy at high prices for
distorting grain markets in the country. The country is said to be facing
severe grain storage problems owing to excessive buying by the government to
maintain prices and protect the local grain markets in the country.
China imported around 287,200
tons of rice in the first month of 2016 (January), about 2.3 times from around
122,400 tons imported during the same period last year, according to data from
China Customs General Administration. The East Asian nation imported about 3.35
million tons of rice in 2015, up about 31% from around 2.56 million tons
imported in 2014.
USDA estimates China
to produce around 145.77 million tons of milled rice in MY 2015-16 (July -
June). It estimates China to import around 4.7 million tons and export around 450,000
tons of rice in 2016.
Government of Laos Aims to Export One Million Tons of Rice in 2016
The government of Laos
is aiming to export one million tons of rice this year, local sources quoted
the Director of the Department of Planning and Cooperation under the Lao
Ministry of Agriculture and Forestry.
In order to achieve
the goal, the government targets a production of about 4.2 million tons of
paddy in the 2015-16 season, according to the official. He reportedly noted
that the target includes 40,000 tons of rice for reserve purposes and 60,000
tons for seeding purposes. The government is also keen on ensuring 2.1 million
tons for domestic consumption during the year.
To boost paddy rice
production, the government is encouraging local farmers to raise the area under
wet rice cultivation to one million hectares and that of upland rice to 100,000
hectares.
The Laos government is
keen on exploring new export markets after the country officially received
order to export about 8,000 tons of rice to China this year.
According to the
Ministry of Agriculture and Forestry, Laos unofficially sells 300,000 to
400,000 tons of paddy rice to neighboring countries through land borders every
year.
The USDA estimates
Laos to produce around 2.778 million tons of paddy rice (around 1.75 million
tons, basis milled) from around 925,000 hectares in MY 2015-16 (January –
December 2016).
UNISAME President Calls for Modernization of Pakistan Rice Sector to Cope
with Growing Competition
The President of the
Union of Small and Medium Enterprises (UNISAME) has urged the government of
Pakistan to modernize the rice farming, milling, processing and marketing to
enable the country's rice sector to meet the global challenges, according to
local sources.
The official had
called for a coordinated effort by the Ministries of Agriculture, Commerce,
Industry, and Science and Technology for the upliftment of the rice sector. He
noted that the rice sector is being neglected despite being the second largest
foreign exchange earner. Dedicated efforts are required from grass root level
to modernization of all the related activities.
The UNISAME President
urged the Small and Medium Enterprises Development Authority (SMEDA) under the
ministry of industries and the Pakistan Council of Scientific and Industrial
Research (PCSIR) under the ministry of science and technology to join hands for
modernization of the rice industry.
He also noted that the
Rice Research Institute under the Agriculture Ministry should invest more in
the development of new varieties to boost production. The Ministry of Commerce
also needs to step up efforts to get geographical indication (GI) recognition
to Pakistan’s basmati rice, he said.
The official also
called the Trade Development Authority of Pakistan (TDAP) and Rice Exporters
Association of Pakistan (REAP) to increase efforts to regain lost market shares
in Iran, Gulf and the Middle East as well as find new markets for Pakistan's
basmati rice.
Government of Philippines Advised to Consider 35% Tariff on Rice Imports
after QRs End Next Year
A Senior Research
Fellow at the state-run Philippine Institute of Development Studies (PIDS) has
advised the government to consider imposing a 35% tariff on rice imports after
the WTO-imposed quantitative restrictions (QRs) on rice imports expire in July
2017, according to local sources.
The researcher noted
that the expiration of QRs would intensify competition among rice importers and
foreign suppliers leading to a fall in domestic prices and affecting the
incomes of local farmers and traders.
He also noted that the
government should simultaneously consider a direct cash transfer program for
farmers to promote competition as well as increase their standard of living. He
stated that government should consider the direct cash transfers over and above
the current support in the form of irrigation investments as well as subsidies
for farm machinery, and farm inputs. "The government should continue to
continue providing these traditional support programs as these have significant
medium term and long term impact but direct payments to farmers would have
immediate impact as it would provide an immediate safety net for local
producers," he said.
The PIDS researcher,
however, noted that the proposal would demand significant resources but is
financially feasible and would directly address the problems faced by farmers
once the protection renegotiated by the government with the WTO ends next year.
QRs apparently allow
the government to import a stated amount of rice at lesser duty and imports
over and above the quota attract higher duties. Last year, the WTO allowed the
Philippines to extend the QRs until 2017. Under the new QR policy, the
Philippines can import 805,200 tons of rice under the minimum access volume
(MAV) of at 35% duty. Imports above the MAV will attract 50% duty.
Global Rice Quotes
March 7th, 2016
Long grain white rice -
high quality
Thailand 100% B grade 370-380 ↑
Vietnam 5% broken 370-380 ↑
India 5% broken 370-380 ↑
Pakistan 5% broken 335-345 ↔
Myanmar 5% broken 420-430 ↔
Cambodia 5% broken 410-420 ↔
U.S. 4% broken 455-465 ↔
Uruguay 5% broken 445-455 ↔
Argentina 5% broken 435-445 ↔
Long grain white rice -
low quality
Thailand 25% broken 350-360 ↔
Vietnam 25% broken 350-360 ↔
Pakistan 25% broken 305-315 ↔
Cambodia 25% broken 395-405 ↔
India 25% broken 330-340 ↔
U.S. 15% broken (sacked)
440-450 ↔
Long grain parboiled
rice
Thailand parboiled 100%
stxd 365-375 ↔
Pakistan parboiled 5%
broken stxd NQ ↔
India parboiled 5%
broken stxd 355-365 ↔
U.S. parboiled 4% broken
480-490 ↔
Brazil parboiled 5%
broken 520-530 ↔
Uruguay parboiled 5%
broken NQ ↔
Long grain fragrant rice
Thailand Hommali 92% 660-670 ↔
Vietnam Jasmine 445-455 ↑
India basmati 2% broken NQ ↔
Pakistan basmati 2%
broken NQ ↔
Cambodia Phka Mails 755-765 ↔
Brokens
Thailand A1 Super 325-335 ↔
Vietnam 100% broken 335-345 ↑
Pakistan 100% broken
stxd 285-295 ↔
Cambodia A1 Super 335-345 ↔
India 100% broken stxd 265-275 ↔
Egypt medium grain
brokens NQ ↔
U.S. pet food 280-290 ↔
Brazil half grain NQ ↔
All
prices USD per ton, FOB vessel, oryza.com
Oryza U.S.
Rough Rice Recap - Prices Firm Slightly with Futures; Everyone Waiting on Iraq
Tender Results
Mar 08, 2016
The U.S. cash market
was slightly firmer with offers from resellers increasing with the futures
market while farmer sell interest was nearly non-existent today.
Analysts note that
both buyers and sellers are sitting on the sidelines waiting to see the results
of the latest Iraq tender which is supposed to be announced on March 14.
If the U.S. is able to
secure a cargo or two of this business many market participants expect prices
to stabilize or firm slightly. However, if the U.S. is overlooked prices
will likely continue their downward trajectory.
Domestic paddy and
rice prices in Vietnam are increasing due to increased exports to Indonesia and
the Philippines, as well as higher orders from China, local sources quoted the
Ministry of Agriculture and Rural Development (MARD).
Prices are also said
to increase amid concerns of lower production due to severe saltwater intrusion
and serious water shortages in rivers.
Paddy prices in An
Giang and Vinh Long in the Mekong Delta region increased between 50 to 150 VND
to around 4,550 VND per kilogram (around $204 per ton) and 4,650 VND per
kilogram (around $208 per ton) respectively.
Harvesting of the
winter-spring rice crop is on-going, and more than 200,000 tons of rice worth
at least 1 trillion Vietnamese dong (around $44.64 million) is likely to be
damaged by the salt water intrusion, according to the MARD officials.
Domestic prices of
rice have been declining since November 2015, according to the data from the
UN's Food and Agriculture Organization (FAO). The decline can be attributed to
low export demand.
Vietnam 5% and 25%
broken rice exports are quoted at around $375 per ton and $355 per ton
respectively, on par with Thai quotes of around $375 per ton and $355 per ton.
However, the MARD officials are expecting a stiff competition for Vietnam rice
exports this year from India, Thailand and Pakistan.
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Start the
Week on Bullish Note as Rally in Crude Supports U.S. Grain Prices
Chicago rough rice
futures for May delivery settled $0.195 cents were cwt (about $4/ton) higher at
$10.700 per cwt (about $236 per ton). The other grains finished the day higher;
Soybeans closed about 0.4% higher at $8.8175 per bushel; wheat finished about
0.4% higher at $4.6275 per bushel, and corn finished the day about 0.2% higher
at $3.5900 per bushel.
U.S. stocks traded
mostly lower Monday, after their first three-week rally of the year so far, as
investors eyed oil prices and awaited indications on monetary policy around the
world. Brent crude topped $40 a barrel for the first time in 2016, while WTI
traded more than 5% higher above $37.50 a barrel. The major averages opened lower
before trying to hold mildly higher in afternoon trade. The key event in the
data-light week is the European Central Bank's Thursday meeting. The Federal
Open Market Committee meets March 15 to 16. European stocks came off session
lows in the close. Asian stocks closed mixed, with the Shanghai composite
ending about 0.8% higher. Over the weekend, Chinese Premier Li Keqiang
announced a 2016 target GDP growth range between 6.5% and 7%.In afternoon
trade, the Dow Jones industrial average traded up 58 points, or 0.35%, at
17,065. The S&P 500 was flat, with energy leading six sectors higher and
information technology the biggest laggard. The Nasdaq composite declined 16
points, or 0.36%, to 4,700. Gold is seen trading about 0.6% lower, crude oil is
seen trading about 4.8% higher, and the U.S. dollar is seen trading about 0.2%
lower at about 1:30pm Chicago time.
Friday, there were 352
contracts traded, down from 795 contracts traded on Thursday. Open interest –
the number of contracts outstanding – on Friday decreased by 44 contracts to
11,849.
Philippines Scientist Developing Eco-Friendly Mechanical Rice Pest Remover
A scientist from the
University of Philippines in Los Baños is developing a mechanical device called
Mechanical Postharvest Pest Removal System (MPReS) to easily remove pests from
rice and corn in an environment-friendly manner, according to GMA News.
Normally, pests are
removed using a two-pronged method. First cooling with dry ice to reduce pest
activity and then fumigating to kill the pests. However, the scientist says,
the method is expensive for many farmers.
She says the newly
developed MPReS device is more useful for farmers in rural areas where there
are no proper storage facilities. She adds that the device works in a very
simple manner.
"It tumbles the
produce, shaking off pests that then fall through a sieve on the contraption's
floor. Thus, pests are sifted out and the cleaned produce can be safely removed
from the device," she says. Thus device can process up to 50 kilograms of
rice at a time. It would take between 5 - 8 minutes for one round of spin, and
the cleaned rice can be easily tilted into another sack by pushing up to tilt
the compartment. The device also does not need electricity or expensive fuel,
she says.
The scientist said: “The
device must be affordable for farmers, easy to clean and operate, and durable
so that it can be used for years.” The device is still in the planning stages
and she is planning to release in the market soon.
She is planning to
present the device in the Young Agriprenuer Program, a global contest for
young agricultural entrepreneurs.
Vietnam Rice Exports Double y/y in First Two Months of 2016
Vietnam exported
856,219 tons of rice in first two months of 2016, up about 103% from 421,202
tons of rice exported during same period in last year, according to data from
the Vietnam Food Association (VFA). The average rice export price so far in
this year stands at around$406 per ton (FOB), down about 10% per ton from
around $452 per ton recorded during same last year.
In February, 2016, Vietnam exported 439,449 tons of rice,
up about 119% from 200,814 tons rice exported in February 2015, and up about 5%
from 416,770 tons rice exported in full month of January 2016. The average
export price in February stands at around $405 per ton, down about 11% per ton
from a year ago and down about 0.6% per ton from a month ago
Thailand, Vietnam, India Rice Sellers Increase Some of Their Quotes Today;
Pakistan Rice Quotes Unchanged
Mar 07, 2016
Thailand rice sellers
increased their quotes for high quality rice, 100% B grade, rice by about
$5 per ton to around $370-$380 per ton. Vietnam rice sellers increased their
quotes for 5% broken rice, 100% broken rice and Jasmine rice by about $10 per
ton, $5 per ton and $15 per ton to around $370-$380 per ton, $335-$345
per ton and $445-$455 per ton, respectively, today. India rice sellers
increased their quotes for 5% broken rice by about $5 per ton to around
$370-$380 per ton. Pakistan rice sellers kept their quotes unchanged today.
5% Broken Rice
Thailand 5% rice is
indicated at around $360 - $370 per ton, about $10 per ton discount to Vietnam
5% rice shown at around $370 - $380 per ton. India 5% rice is indicated at
around $370 - $380 per ton, about $35 per ton premium on Pakistan 5% rice shown
at around $335 - $345 per ton.
25% Broken
Rice
Thailand 25% rice is
indicated at around $350 - $360 per ton, on par with Vietnam 25% rice shown at
around $350- $360 per ton. India 25% rice is indicated at around $330 - $340
per ton, about $25 per ton premium on Pakistan 25% rice shown at around $305 -
$315 per ton.
Parboiled
Rice
Thailand parboiled
rice is indicated at around $365 - $375 per ton. India parboiled rice is
indicated at around $355 - $365 per ton, about $50 per ton discount to Pakistan
parboiled rice last shown at around $405 - $415 per ton.
100% Broken
Rice
Thailand broken rice,
A1 Super is indicated at around $325 - $335 per ton, about $10 per ton discount
to Vietnam 100% broken rice shown at around $335 - $345 per ton. India's 100%
broken rice is shown at around $265 - $275 per ton, about $20 per ton discount
to Pakistan broken sortexed rice shown at around $285 - $295 per ton.
Exclusive News have been shared with written permission of
ORYZA.com with thanks
Indian Finance Minister
Enhances Agricultural Credit in 2016-17 Union Budget
Feb 29, 2016
The Indian Finance Minister, who presented the Union Budget
2016-17 today, has enhanced the agricultural credit to Rs.9 lakh crore (around
$131 billion) from Rs.8.5 lakh crore ($124 billion) last year.
A total of Rs.35,984 crore (around $5.2 billion) is allotted
for agriculture in the 2016-17 budget, he said. The Minister also announced
that the government aims to cover all the 140 million farm holdings in the
country under the soil health card scheme by March 2017. The soil health card
scheme was introduced in last budget. Under the scheme, the government will
advise farmers on the usage of inputs like fertilizers for different types of
soils and for different types of crops after testing the soil in various soil
testing labs across the country.
He also noted that about 200,000 hectares would be brought
under organic farming over a period of three years. He stated that Rs.6,000
crore (around $874 million) would be allocated for sustainable management of
ground water resources.
The Minister announced that Rs.15,000 crore ($219 million)
would be allocated towards interest subvention to lower burden for farmers.
He also announced that a Unified Agricultural Marketing
ePlatform would be provided for wholesale markets.
Government of Rwanda May Stop Rice Imports by 2018 to Reduce Trade Deficit
Feb 29, 2016
The government of
Rwanda may stop importing rice by 2018 as part of its efforts to reduce the
bulging trade deficit, according to local sources. Rwanda imported around $37 million
worth rice in 2015 compared to around $31.1 million in 2014. The country 's
trade deficit stood at around $1,761.3 million in 2015. Higher deficit is
attributed to a fall in the country’s exports due to falling global prices.
The State Minister for
Agriculture reportedly told the Parliament recently that the Agriculture
Ministry has drafted a new plan aimed at increasing the local rice production,
enough to meet all the country's needs by 2018.
The measures
reportedly include expanding the rice planting in marshland areas as well as
allocating more land to private investors who are interested in venturing into
commercial rice growing activities. Currently, only 28,500 hectares of
marshland areas are used for rice cultivation, while the country has a total
capacity of 66,094 hectares.
"The new plan
involves working with co-operatives and easing access to farm inputs to boost
production. The government is currently trying to address the challenges in
rice production including limited Post-harvest infrastructures, insufficient
amount of good quality seeds due to absence of efficient public seed production
and distribution," said the Agriculture Ministry's Permanent Secretary.
The Permanent
Secretary in the Ministry of Trade and Industry added that “streamlining the
production and supply value chains will help increase local production."
The government of
Rwanda is aiming to achieve rice self-sufficiency by increasing yields to 7
tons per hectares by 2018. In 2014, the Rwanda Agriculture Board (RAB) reportedly
unveiled an initiative that sought to increase rice production, ensure quality
along the value chain, and ease access to agro-inputs.
Rwanda imports about
40% of its annual rice demand of arbout 98,000 tons, according to the USDA.
Cambodia Lacks Comprehensive Rice Export Policy, Say Exporters
Feb 29, 2016
Cambodian rice
exporters have expressed concerned that Cambodia lacks a comprehensive rice
export policy, which can aid in boosting production and exports, according to
the Phnompenh Post.
They noted that
despite winning the world's best rice competition for three consecutive years,
the Cambodian rice industry continues to face challenges such as access to
finance, as well as inadequate irrigation, milling and storage facilities.
“Relevant ministries
such as the Ministry of Economy and Finance together with the Ministry of
Agriculture and CRF [Cambodian Rice Federation] have yet to come up with a
thorough strategy design, accompanying policies and policy implementation
framework that can be rolled out to enhance the competitiveness of our rice
industry in the global market, especially within the context of how to allow
Cambodian millers to become a cost leader to compete with the same level
playing field [of our] Thai and Vietnamese counterparts,” one of the leading
exporters was quoted.
“Cambodia’s rice
industry has a huge potential but unless we manage to solve the cost
impediments, this potential may be squandered. It is the survival of the
fittest,” he added.
They noted that
"a pragmatic, professional, and thorough marketing strategy with
appropriate market positioning and implementation plan" is necessary along
with the government's on-going efforts to develop a national brand name for the
country's rice.
Meanwhile, the
Cambodian Center for Study and Development in Agriculture (CEDAC) is planning
to expand the production of organic rice in the country to around 1,000 - 1,500
tons this year due to its higher export potential. Local farmers affiliated
with CEDAC produced around 400 tons of organic rice in 2014 and around 800 tons
in 2015.
Cambodia has exported
around 538,396 tons of milled rice in 2015 (January - December), up about 39%
from around 387,061 tons exported in 2014. The government of Cambodia aimed to
increase official rice exports to one million tons in 2015 but missed the
target due to inadequate milling facilities and infrastructure as well as lack
of access to funding.
India Average Wholesale Rice Prices Decline Slightly m/m in February 2016
Feb 29, 2016
India average
wholesale rice prices have declined slightly in February 2016, after increasing
for three consecutive months. The decline can be contributed to increasing
supplies from the on-going Rabi/secondary rice crop (November - May) harvests.
Average monthly
wholesale rice prices in India stood at around Rs.2,773.3 per quintal in
February 2016, slightly up from around Rs.2,782.77 per quintal in January 2016,
and slightly down from their year-ago levels of around Rs.2,787.06 per quintal.
In terms of USD per
ton, wholesale rice prices in India stand at around $404 per ton (using current
exchange rates) in February 2016, down about 3% from around $415 per ton (using
historical exchange rates) in January 2016, and down about 10% from around $450
per ton (using historical exchange rates) in February 2015.
Analysts are expecting
India’s average prices to increase due to a likely reduction in this year's
output following below-average monsoon rains during the kharif season (July -
December).The government, in its second advance estimates for major crops,
forecasts India's 2015-16 (July - June) milled rice output to decline about 2%
to around 103.61 million tons from around 105.48 million tons in 2014-15.
Indian Authorities Unearth $146 Million Scam in Basmati Rice Exports Routed
to Iran
Feb 29, 2016
Authorities from the
Directorate of Revenue Intelligence (DRI) have unearthed a massive scam
involving over 200,000 tons of basmati rice worth Rs.1,000 crore (around $146
million) in rice exports routed to Iran, according to the Press Trust of India
(PTI).
The DRI authorities
found that the rice routed to the Bandar Abbas port in Iran was being
fraudulently diverted mid-sea to Dubai. They noted that exporters involved in
the scam would load the rice at the Kandla port in Gujarat. They have also
filed shipping bills to Iran. However, the consignment was diverted mid-sea to
Dubai allegedly with the connivance of cargo ship operators carrying the goods.
They also noted that payments are understood to be made from Iran to these
exporters with the importers and port officials officially acknowledging the
receipt of rice.
The authorities are
reportedly suspecting the involvement of about 25 rice exporters from Haryana
and Punjab in this scam.
Local sources noted
that the intelligence agencies are investigating the end use of the rice
off-loaded in Dubai. They noted that the authorities are suspecting the use of
rice as barter system to fund some illegal activities. Locally, they are
expecting the proceeds of the scam are a form of black money, the sources said.
The DRI has reportedly
involved the Supreme Court-appointed Special Investigation Team on black money
as well as the Enforcement Directorate to resolve the case. It is also in touch
with the concerned authorities in Dubai
Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Bounce
Higher to Start the Week on a Positive Note
Mar 01, 2016
Chicago rough rice
futures for Mar delivery settled 10.5 cents per cwt (about $2 per ton) higher
at $10.495 per cwt (about $231 per ton). The other grains finished the day with
mixed results; Soybeans closed about 0.3% lower at $8.6100 per bushel; wheat
finished about 0.2% higher at $4.5325 per bushel, and corn finished the day
about 0.7% lower at $3.5700 per bushel.
U.S. stocks traded
higher Monday, the last trading day of February, amid higher oil prices and
after some disappointing data. U.S. crude oil futures extended gains trading
more than 2.5% higher near $33.70 a barrel in afternoon trade. In economic
news, Chicago PMI came in at 47.6 in February, missing expectations and
dropping from 55.6 in January. Pending home sales fell 2.5% in January, versus
expectations for a slight gain. Key data for the week include ISM manufacturing
on Tuesday and the jobs report on Friday.
European equities came
off session lows to close mixed after China's central bank announced further
stimulus measures. The People's Bank of China cut further the reserve
requirement ratio, the amount of cash the country's banks have to hold, by 0.5%
points after China's markets closed Monday. The cut was the first since October
and the fifth since last February. The reserve requirement ratio comes into
effect Tuesday and means most large Chinese banks will have a reserve ratio of
17%, Reuters said. Asian equities closed mostly lower, with the Shanghai
composite down about 2.9% but above session lows and the Nikkei 225 reversing
gains to close down 1%.In afternoon trade, the Dow Jones industrial average was
up 42 points, or 0.25%, at 16,682. The S&P 500 traded 5 points higher, or
0.4%, at 1,953, with utilities leading eight sectors higher and health care and
energy the only decliners. The Nasdaq composite was up 17 points, or 0.38%, to
4,607. Gold is seen trading about 1.1% higher, crude oil is seen trading about
2.6% higher, and the U.S. dollar is seen trading about 0.1% higher at
about 1:00pm Chicago time.
Friday, there were
4,710 contracts traded, up from 3,079 contracts traded on Thursday. Open interest
– the number of contracts outstanding – on Friday increased by 264 contracts to
13,037.
Iraq Seeks to Buy 30,000 Tons of Rice in Tenders
Feb 29, 2016
Iraq is seeking to buy
about 30,000 tons of rice in tenders from the U.S., Uruguay and Argentina,
Bloomberg quoted a statement from Iraq's Trade Ministry.
Deadline for
submission of bid is reportedly March 8, 2016, and the offers will be valid
till March 14, 2016.
Last week, Iraq passed
off tenders to buy 90,000 tons of U.S. rice due to high prices. Bidders
reportedly offered South American rice at low prices.
Pakistan Resumes Banking Ties with Iran as Sanctions End
Feb 29, 2016
The State Bank of
Pakistan (SBP) has resumed banking ties with Iran allowing all commercial banks
and financial institutions in the country to restart business with their
Iranian counterparts, according to Reuters.
"In line with the
federal government's decision to implement the United Nations Security Council
Resolution regarding lifting of sanctions against Iran, the State Bank of
Pakistan has communicated to banks/financial institutions that previous
sanctions on Iran have been removed and normal business activities can be
commenced within the scope of the Resolution," the central bank was
quoted.
"It is expected
that the lifting of sanctions and restoration of banking channels between
Pakistan and Iran would revive normal trade and business activities between the
two neighbours," it added.
Major Pakistani
exports to Iran include basmati rice, plastics, paper and oranges, and the big
imports items include liquefied petroleum gas, petroleum products, electric
transformers and dry fruits. The Rice Exporters Association of Pakistan (REAP)
has been urging the government to restore payment mechanisms between the two
countries to help boost exports.
Earlier this month,
the global transaction network Society for Worldwide Interbank Financial
Telecommunication (SWIFT) reconnected a number of Iranian banks to its system,
allowing them to restart cross-border transactions with foreign banks. The move
came after sanctions were lifted on Iran in January this year. Iranian banks
were removed from the Belgium-based SWIFT in March 2012, following the
tightening of the international sanctions against Iran over its disputed
nuclear program.
Global Rice Quotes
February
29th, 2016
Long
grain white rice - high quality
Thailand
100% B grade 365-375 ↔
Vietnam
5% broken 355-365 ↑
India 5%
broken 360-370 ↔
Pakistan
5% broken 335-345 ↔
Myanmar
5% broken 420-430 ↔
Cambodia
5% broken 410-420 ↔
U.S. 4%
broken 455-465 ↔
Uruguay
5% broken 445-455 ↔
Argentina
5% broken 435-445 ↔
Long
grain white rice - low quality
Thailand
25% broken 345-355 ↔
Vietnam
25% broken 345-355 ↑
Pakistan
25% broken 305-315 ↔
Cambodia
25% broken 395-405 ↔
India 25%
broken 325-335 ↔
U.S. 15%
broken (sacked) 440-450 ↔
Long
grain parboiled rice
Thailand
parboiled 100% stxd 365-375 ↔
Pakistan
parboiled 5% broken stxd NQ ↔
India
parboiled 5% broken stxd 350-360 ↔
U.S.
parboiled 4% broken 480-490 ↔
Brazil
parboiled 5% broken 520-530 ↔
Uruguay
parboiled 5% broken NQ ↔
Long
grain fragrant rice
Thailand
Hommali 92% 665-675 ↔
Vietnam
Jasmine 415-425 ↔
India
basmati 2% broken NQ ↔
Pakistan
basmati 2% broken NQ ↔
Cambodia
Phka Mails 755-765 ↔
Brokens
Thailand
A1 Super 325-335 ↔
Vietnam
100% broken 330-340 ↑
Pakistan
100% broken stxd 285-295 ↔
Cambodia
A1 Super 335-345 ↔
India
100% broken stxd 260-270 ↔
Egypt
medium grain brokens NQ ↔
U.S. pet
food 280-290 ↔
Brazil
half grain NQ ↔
All
prices USD per ton, FOB vessel, oryza.com
Vietnam Exports About 727,847 Tons of Rice During January 1 – February 25,
2016
Feb 29, 2016
Vietnam exported about
727,847 tons of rice in January 1 - February 25, 2016, up about 73% from around
421,202 tons of rice exported in first two months of 2015, according to data
from the Vietnam Food Association (VFA). The average rice export price so far
in this year stands at about $399 per ton (FOB), down about 11% per ton from
around $452 per ton recorded during same last year.
During February 1-25,
2016, Vietnam exported around 311,077 tons of rice, up about 55% from around
200,814 tons rice exported in full month of February 2015, and down about 25%
from around 416,770 tons rice exported in full month of January 2016. The
average export price so far in February stands at around $387 per ton, down
about 15% per ton from a year ago and down about 5% per ton from a month ago.
Vietnam Rice Sellers Increase Their Quotes Today; Other Asia Rice Quotes
Unchanged
Feb 29, 2016
Vietnam rice sellers
increased their quotes for 5% broken rice, 25% broken rice and 100% broken rice
by about $5 per ton each to around $355-$365 per ton, $345-$355 per ton and
$330-$340 per ton respectively today. Other Asia rice sellers kept their quotes
unchanged today.
5% Broken Rice
Thailand 5% rice is
indicated at around $355 - $365 per ton, on par with Vietnam 5% rice shown at
around $355 - $365 per ton. India 5% rice is indicated at around $360 - $370
per ton, about $25 per ton premium on Pakistan 5% rice shown at around $335 -
$345 per ton.
25% Broken
Rice
Thailand 25% rice is
indicated at around $345 - $355 per ton, on par with Vietnam 25% rice shown at
around $345- $3505per ton. India 25% rice is indicated at around $325 - $335
per ton, about $20 per ton premium on Pakistan 25% rice shown at around $305 -
$315 per ton.
Parboiled
Rice
Thailand parboiled
rice is indicated at around $365 - $375 per ton. India parboiled rice is
indicated at around $350 - $360 per ton, about $55 per ton discount to Pakistan
parboiled rice last shown at around $405 - $415 per ton.
100% Broken
Rice
Thailand broken rice,
A1 Super is indicated at around $325 - $335 per ton, about $5 per ton discount
to Vietnam 100% broken rice shown at around $330 - $340 per ton. India's 100%
broken rice is shown at around $260 - $270 per ton, about $25 per ton discount
to Pakistan broken sortexed rice shown at around $285 - $295 per ton.
Oryza U.S. Rough Rice Recap - Prices Seen Steady after IGB Reissues Another
Tender Including South American Origins
Mar 01, 2016
The U.S. cash market
was seen mostly unchanged today after it was confirmed that Iraq canceled their
U.S. origin only tender and reissued another tender to buy at least 30,000 MT
from either the U.S., Uruguay, or Argentina.
Analyst note that the
lower and unsolicited offers from South America on the old tender likely
complicated things for the Iraqi Grain Board as they likely faced difficulties
justifying paying a roughly $90 per ton premium for U.S. rice over South
American.
Going forward,
analysts expect that offers from the U.S. will decrease while offers from South
America will increase which some believe will give the U.S. a decent shot at
booking one cargo.
Offers need to be
submitted no later than March 8 and need to remain valid until March 14.
News have been shared with permission of ORYZA.com with thanks
The Rice Exporters Association of Pakistan (REAP) has urged the
government to declare rice as a separate industry and place it under
zero-rating along with five major export-oriented sectors.
In a statement, Patron-in-Chief of REAP Abdul Rahim Janoo said
that apart from textiles, rice exports were much ahead of other four
export-oriented sectors. He feared that neglecting this sector would discourage
rice exports and the country would lose its traditional markets.
Janoo said the government would have to go for “no payment no
tax” policy to ensure corruption-free export trade and encourage exporters.
“There is no logic in first paying taxed and then getting refunds of the same.
This results in corruption and blocks huge working capital of export trade.”As
exporters funds are held back by the Federal Board of Revenue (FBR), they had
to go for bank borrowing and pay extra amount towards mark-up, he said.
Group seeks foreign partners to boost rice
production
ON FEBRUARY 28, 201611:49 AMIN NEWS0 COMMENTS
111 Shares3321 Yenagoa – The Bayelsa chapter of Rice Farmers Association of
Nigeria (RIFAN) says it is seeking foreign partners to produce rice in
commercial quantity in the state. The state Chairman of the association, Mr
Ezekiel-Simeon Ogbianko, disclosed this in Yenagoa on Sunday. Ogbianko said the
association had acquired 40,000 hectares of land in Yenagoa Local Government
Area for the commercial rice farming project. He said that the association also
acquired additional 5,000 hectares of land in each of the eight local
government areas of the state for rice cultivation. He said the acquisition of
land in the local government areas was to ensure that there was enough rice for
local consumption as well as export. “We want to launch our website very soon
and we need international partners. We have a large parcel of land for
commercial rice cultivation. “We need those with the technical knowhow and
those that know the value of agriculture to partner with us and produce rice in
commercial quantity in Bayelsa State,” he said. Ogbianko said that the
association was expecting a loan from the Bank of Agriculture to fully go into
the project. He explained that the state chapter of RIFAN faced the challenge
of non-accessibility of the acquired parcels of land because the areas were
characterised by thick vegetation and marshy soil. The chairman decried the
lack of rice mills in the state, and said that a large quantity of rice
produced in the state was unprocessed because of lack of milling machines. He
said, “if government can provide modern milling
TEMPO.CO, Jakarta -
Agricultural Minister Amran Sulaiman predicted that certain parties have
intentionally manipulated rice prices to gain profits in exchange of public
interest. "These parties are middle men who often look for opportunities
to hoard rice and sell them to the market [at certain times]," Amran said
to the press on Monday, February 29, 2016.Amran said that these middle men have
less to no concern about the public needs and the government's effort to
stabilize rice prices. Amran added that the middle men will only sell their
rice stocks if commodity prices are climbing.Currently, Amran has noted an
indication of massive inflow of rice stocks in rice supply centers, causing
oversupply, in turn, dropping the price of rice. On the first week of February
2016, rice were sold at Rp 13,344 per kilogram while on the second week, the
price drops to Rp 7,500 to Rp 10,000 per kilogram.
"This
is an anomaly that has never happened within the last five to 10 years. This
also showed that the national rice production is increasing," Amran said.Minister
Amran said that the government will not giving up in eradicating middle men and
food commodity mafia who have disrupted Indonesia's agricultural pattern."We
will change the planting patter so that there will be no unused land, because
once a harvesting season ends, a planting season starts. This will resulted in
continuous rice production and eliminate rice scarcity," Amran concluded.
Cilacap, C Java (ANTARA News) - Agriculture
Minister Andi Amran Sulaiman launched a new rice product, labeled as Premium
7,500 Rice, in Cilacap, Central Java, on Monday, in an effort to reduce the
number of players in distribution channel.The minister launched the Premium
7,500 rice product after conducting a grand rice harvest, together with the
Indonesian Army Chief Gen Mulyono, Central Java Governor Ganjar Pranowo,
Cilacap District Head Tatto Wuarto Pamuji and a number of government officials
in Mernek Village, Maos, Cilacap District, Central Java.Minister Sulaiman said
the Premium 7,500 rice was bought from farmers at a fair price and was sold to
consumers at a lower price.
"This means that we are creating a new market by shortening the
distribution channel for rice," noted the minister.He said the rice was
bought from farmers at a price of Rp4,000 per kilogram. The rice was bought in
the unhusked form and was sold as hulled premium rice at Rp7,500 per kilogram.However,
the minister said he did not rule out the possibility of the premium rice price
increasing slightly in the future. "It can be raised slightly as long as
it stays below the Rp8,000 per kilogram level," he said.On the
distribution of Premium 7,500 rice, the minister explained that his ministry
has prepared 1,000 farmer shops in provinces which are rice producing centers.
Premium 7,500 rice venture is part of the efforts to stabilize rice prices.
"We can see now that the rice prices have returned to normal, ranging from
Rp7,500 to Rp8,000 per kilogram. So, we will go ahead with the program."
At a separate occasion, Head of the Food Resilience Agency of the Ministry of
Agriculture, Gardjita Budi said the rice from which Premium Rice 7,500 is
produced was bought from farmers at a price more than what is sanctioned by the
government (HPP), so the farmers get the benefit. The unhusked rice is
processed and sold to the farmer shops.
"The point is that the shops should not cause difficulties to the people
while selling rice," he said. The farmer shops can sell the premium rice
at Rp7,500 per kilogram directly because there is a shorter distribution
channel.Budi said his side has set a target of opening 1,000 farmer shops in
2016. About 150 shops had been opened in 2015 but they were still on a trial
basis.
HO CHI
MINH CITY - Sunday, February 28, 2016 10:22
Workers load rice sacks at a seaport in Ho Chi
Minh City. Photo: Diep Duc Minh
Vietnam's
rice exports hit US$445 million in the first two months, twice the number of
the same period last year, the agriculture ministry reported on Friday.The
strong increase was achieved, even as the average price slipped nearly 6
percent to $443.5 a ton, thanks to a sharp increase in quantity. Rice shipments
exceeded one million ton in January and February, the ministry said.
Indonesia replaced China to become Vietnam's
biggest rice buyer, accounting for more than 25 percent of the shipments in
January. It was followed by China and the Philippines.
Vietnam, however, saw sharp declines in its
exports to Hong Kong and the US, both deemed as its high-ranking markets.
Shipments to these markets went down 25 and 23 percent, respectively.Rice
exports fell 2.9 percent last year to $2.85 billion.
The China Certification and Inspection Group (CCIG) will
open a branch in Yangon next month, according to the Myanmar Rice Federation
(MRF).It aimed to carry out quality inspection of rice due to be exported to
China, the MRF said.Lu Maw Myint Maung, joint secretary of the MRF, said:
"Officials from the CCIG held discussions this month to increase rice
exports. They feel the Myanmar rice market has potential to develop. The CCIG
is looking for an office and plans to open next month. I heard the Myanmar
Agribusiness Public Corporation has arranged an office for the CCIG and it is
looking for warehouses in Hlaingtharya and rice mills near industrial
zones."
The country could export more than 1.3 million tonnes of rice this fiscal year,
down more than four million tonnes compared with the last year, said Ye Min
Aung, general secretary of the MRF.The decline in rice exports was due to the
devastating floods during last year’s monsoon, he added. Around 90 per cent of
Myanmar’s exported rice passes through its land borders with 10 per cent
leaving by sea. Muse is the main centre for rice exports to China. "Muse
camp received about 5,000 tonnes of rice in previous years. But now we cannot
export more than 1,000 tonnes. CCIG is an independent, third-party
certification and inspection organisation dedicated to providing inspection,
verification, certification and testing services," he said.
Rice futures
recoveredFriday'slosses, but didn't make much progress
in recouping most of what was lost last week. The market continues to absorb
disappointing export news. The loss of the Iraqi tender, which had originally
been for 90,000 tons US origin rice only, was the impetus for the negative
undertone this week. Weekly exports of 55,800 metric tons weren't enough to
spark much buying interest today. USDA pegged US acreage at 2.8 million acres,
up from last year's 2.6 million. Depending on the weather, though, that total
could be even higher.
Iraq Tender Falls Apart at Eleventh Hour
By Michael Klein
WASHINGTON, DC -- USA Rice has learned that the
most recent rice tender from the Grain Board of Iraq has been cancelled despite
on target and competitive bids from the United States, the extension of bids,
and intervention from the U.S. Ambassador to Iraq.After months of wrangling
with the Grain Board and the Ministry of Trade, direct involvement from the
U.S. embassy in Baghdad, and U.S.-sponsored technical seminars as recently as
three weeks ago, things appeared to be looking up in this once great market for
U.S rice when a U.S. specific tender was announced earlier this month.The
90,000 metric ton tender closed on February 21, with results expected to be
announced late last week.
As of today, the tender has been cancelled and
is being reoffered at 30,000 metric tons and including South America as an
origin. [Click on the video link above
to hear Carl Brothers, senior vice president and COO of Riceland Foods, explain
what's happening here.]USA Rice, in partnership with the U.S. Embassy, has
consistently encouraged Iraq to diversify its origins for rice to reduce the
risk of non-delivery and to ensure a reliable and timely supply of rice."We
certainly don't expect to get all the business, but with a U.S. origin tender
it seems we had a good shot at this one," Ward said. "We're extremely disappointed, and this
latest action by the government of Iraq is leaving a bad taste in the mouths of
U.S. rice farmers who stand ready to help feed the people of Iraq. We have a large, high-quality, safe crop, ready
to go. It's quite frustrating."
The government of Iraq is experiencing a
significant financial crisis with no approved operating budget for the year,
however, it is well known that food stocks are running low and the 90,000 ton
tender was almost seen as an emergency measure to help with food rations for
the Iraqi people.
USA Rice Connects with Thousands at Farm &
Gin Show
By Michael Klein
MEMPHIS, TN -- The just concluded 64th Annual
Mid-South Farm & Gin Show attracted thousands of attendees and more than
400 exhibitors, one of which was USA Rice.USA Rice's popular booth featured an
exciting prize wheel that's become a show favorite. "Contestants" spin the wheel and
must answer a trivia question about rice to receive a prize. Topics include the nutritional value of rice,
where rice is grown, rice's sustainability record, and more, including some fun
facts and trick questions that you can see in the video above. Correct answers were rewarded withThinkRice
marshmallow rice treats, pens, colored pencils, and measuring cups.
"We like to have fun with the folks with
our trivia game," said Randy Jemison, USA Rice director of Louisiana Field
Services. "A lot of exhibitors just
give stuff away, but we make them work - and learn for it. They come back year after year, a lot of
times proud that they remember the question and answer we asked them last
year. And that's what this is all
about."Jemison said USA Rice attends to connect with rice growers and to
participate in the many educational seminars offered at the show.During his
annual presentation for the Outlook on Rice and Wheat, Carl Brothers, senior
vice president and COO of Riceland Foods, said that while the year started out
strong and rough rice exports are still strong, milled rice exports are down.
"I had hoped to come to Memphis a little
more upbeat than I am, but we've got some tenders going on that we're not sure
what's happening, and we are absolutely looking at other rice exporting
countries that are not complying with the WTO obligations, making it very
difficult for American rice farmers," he said.Brothers said a bright side
was a steady rise in U.S. domestic consumption that far outpaces population
growth. "Since 1980, ice
consumption is up 271 percent, but population is up only about 40
percent," he said. "The
upsurge is attributed to the rise in rice use in pet food and in the diet of
Americans as demographics shift."
Milo Hamilton, founder of FirstGrain, also gave
an interesting talk where he said water, and by extension, rice, are entering a
phase of what he termed "Empire Commodities." He believes the Fossil Fuel Empire
Commodities are declining in importance and water will be a new global
standard.
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Spend Matters welcomes this
guest post from Loraine Hudson, of Mintec.
After roughly 10 years of
discussions, an agreement has been reached that will allow U.S. rice to be
exported to China, the largest rice producer, importer and consumer. Demand for
U.S. rice in China has been identified and the country could, in time, become
the largest market for U.S. rice exports.
In comparison with China, the
U.S. rice market is tiny. The U.S. produces 6 million to 7 million tonnes of
rice per year, compared to around 140 million tonnes per year for China. U.S.
consumption is around 4 million tonnes, whereas China’s is more than 142
million tonnes. China’s huge demand for rice is not completely covered by its
domestic production and so in the past few years China has become the world’s
largest rice importer too.In 2014/2015, China imported 4.3 million tonnes of
rice, and none of that was American. A lengthy discussion on the phytosanitary
aspects of the rice that China will allow into the country has been ongoing for
the best part of a decade and, until this was decided, no U.S. rice could be
exported to China. On Jan. 21, 2016, a representative from USA Rice announced
that an agreement had been reached with hopes that U.S. rice could be exported
to China as early as spring 2016.
The phytosanitary protocol
agreement requires U.S. rice mills and storage facilities to comply with a
range of phytosanitary standards, which will be inspected by both U.S. and
Chinese authorities, and a certification issued by China before exports can be
made. Even then exports will only be allowed into eligible Chinese ports. Part
of the requirements is for traps to be laid to capture certain insects,
especially the Khapra beetle. The Khapra beetle is notoriously hard to kill but
very rare in the U.S., and exporters will need to prove traps are in place and
record anything found in them.Although the prospect of exporting to China is
seen as having huge potential for the U.S. rice industry, U.S. exporters are
aiming for the high-quality market rather than the mass-market. Consequently,
it is thought that exports will grow slowly, with China becoming the largest
importer of U.S. rice only after a few years.
With a
reduced rice crop prices for farmers’ paddy might increase
Dear Editor,
Harvesting of the first rice crop for 2016,
will commence soon in Region Two, where farmers will be making full use of the
sunny weather. Farmers are expected to harvest an average of 40 bags per acre
without much difficulty; overall a bumper crop will result. It is a relatively
small crop considering that only about 25,000 acres out of the 35,500 acres
were sown due to the lack of irrigation water and the continuing dry weather.With
a lower projected yield from such a reduced crop, the signs are pointing in the
direction of increased competition for farmers’ paddy and a resultant increase
in price, which may be good for the farmers. I think it was a wise decision for
Guyana and Suriname rice millers to join forces considering the critical nature
of the current situation. It will be necessary to lobby for increased access to
the Colombia market.
This could be expedited and supported by
monitoring how paddy stocks are released into the market, thereby empowering
lobbyists with crucial information for decision-making. The need for
constructive dialogue between the Guyana Rice Exporters and Millers Association
(GREMA) and the Suriname Rice Millers Association at this time cannot be
over-emphasized. Over the past year, there has been a general decline in the
sale of rice on the international market for both Guyana and Suriname.
This trend, which has been non-uniform, has had
more consequences for Guyana and Suriname than other rice-producing countries.
In the last few years they have faced a serious threat to their earning
position as other countries began offering more competitive prices. If rice
from outside sources enters the Caribbean and Colombia markets, regional
producers will have grave difficulties in competing. Guyana and Suriname
producers will have to pay greater attention to cost of production and
efficiency. We hear over and over that the world is becoming more
interdependent.
Much talk is going on about the global rice
trade. Asian countries are forming transnational corporations and they do not
allow differences of race, nationality or religion to affect their profits.
They will further add to the pressure on the low prices. For the third time
since 1995, drought has reduced rice crops in Guyana and Suriname. It is still
too early to make a definitive forecast of the 2016 production of Guyana’s
paddy and rice. International rice prices from most origins strengthened during
the month of March.
Kisan Servcies Organisation (KSO) secretary and a progressive
farmer P.S.R. Das passed away on Sunday. His last rites would be performed in
the city on Monday. The body was shifted to his son’s residence in the city
near Ayush Hospitals. He served as secretary of Kisan Service Organsation
(KSO), a voluntary organisation floated to create awareness among farmers on
current agricultural practices, government schemes etc.Mr. Das has been
instrumental in encouraging the farmers in cultivating Basmati rice in the
district. The farmers cultivated the new variety as it can be exported. The
Pusa 1509 variety has become popular among the farmers due to its high yield as
compared to Pusa-1121.Mr. Das was on forefront on many issues that were related
to the farming community. In Gudivada, his home town, Mr. Das also organised meet
in commemoration of Sir Arthur Cotton.
Amira Nature Foods Ltd Announces
New Partnership for UAE Market
*Reuters is not responsible for
the content in this press release.
Amira Nature Foods Ltd Announces New Partnership for UAE Market
Amira Forms Strategic Alliance with MAN Consumer, One of the
Fastest Growing FMCG Distributors in the United Arab Emirates
Amira Nature Foods Ltd (NYSE: ANFI), a leading global provider
of branded packaged Indian specialty rice, announced today that it has joined hands
with MAN Consumer, a wholly owned subsidiary of MAN Investments UAE, to form a
strategic alliance for the distribution of Amira products in the United Arab
Emirates. The agreement was formalized last week with an official signing
ceremony in Dubai at Gulfood 2016, the world’s largest annual food and
hospitality trade show. Amira was a gold sponsor for the event which drew
approximate 85,000 attendees over a five day period.
MAN Consumer, one of the fastest growing distribution companies
in the United Arab Emirates, is a wholly owned subsidiary of MAN Investments,
which is a part of Mohammed Juma Al Naboodah’s private office, a major Emirati
conglomerate. With a vision to be the largest FMCG distributor in the UAE and a
leading player in the broader MENA region, MAN Consumer presently distributes
30+ brands in the region, spread across diverse set of segments.Amira’s
Chairman Mr. Karan A. Chanana during the press meet stated, "We are
delighted to be working with MAN Consumer to strengthen our brand distribution.
This marks an exciting step for Amira in the UAE. We look forward to working
with the group to increase our product availability in the region, allowing
more Emirates consumers to discover the Amira brand and our excellent range of
quality rice."
MAN Consumer General Manager Mr.Taranjit Singh stated, “Amira’s
premium aged rice ranges intend to bring delight to consumers, like no other.
With our strong distribution strengths, MAN intend to ensure Amira’s
availability in every single corner of the country and make Amira a household
name.”
About Amira Nature Foods Ltd
Founded in 1915, Amira has evolved into a leading global
provider of branded packaged Indian specialty rice and other products, with
sales in over 60 countries. The Company primarily sells Basmati rice, which is
a premium long-grain rice grown only in certain regions of the Indian
sub-continent, under its flagship Amira brand as well as under other third
party brands. Amira sells its products through a broad distribution network in
both the developed and emerging markets. The Company’s global headquarters are
in Dubai, United Arab Emirates, and it also has offices in India, Malaysia,
Singapore, Germany, the United Kingdom, and the United States. Amira Nature
Foods Ltd is listed on the New York Stock Exchange (NYSE) under the ticker
symbol “ANFI.”For more information, please visitwww.amira.net
“Discover. Create. Enjoy. - Amira!”
Safe Harbor for Forward-Looking Statements
This press release contains statements of a forward-looking
nature. These statements are made under the “safe harbor” provisions of the
U.S. Private Securities Litigation Reform Act of 1995. You can identify these
forward-looking statements by words or phrases such as “may,” “will,” “except,”
“anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely
to,” “future” or other similar expressions. We have based these forward-looking
statements largely on our current expectations and projections about future
events and financial trends that we believe may affect our financial condition,
results of operations, business strategy and financial needs. There is no
assurance that our current expectations and projections are accurate. These
forward-looking statements include, but are not limited to:
·
our goals and strategies;
·
our expansion plans;
·
our future business development, results of
operations, financial condition and audited financial statements;
·
our ability to protect our intellectual
property rights;
·
projected revenue, EBITDA, adjusted EBITDA,
profits, adjusted profits, earnings, adjusted earnings and other estimated
financial information;
·
our ability to maintain strong relationships
with our customers and suppliers;
·
the continued application of the proceeds
from our initial public offering (“IPO”);
·
governmental policies regarding our industry;
and
·
the impact of legal proceedings.
You should not place undue reliance on forward-looking
statements and you should read these statements in conjunction with the risk
factors disclosed in “Risk Factors” appearing in Amira’s Annual Reports found
on the SEC’s website located atwww.sec.gov. Those risks are not exhaustive.
We operate in a rapidly evolving environment. New risk factors emerge from time
to time, and it is impossible for our management to predict all risk factors,
nor can we assess the impact of all factors on our business or the extent to
which any factor, or combination of factors, may cause actual results to differ
from those contained in any forward-looking statement. We do not undertake any
obligation to update or revise the forward-looking statements except as required
under applicable law.
DRI
unearths over Rs 1,000 crore scam in rice export
By PTI |
Feb 28, 2016, 12.47 PM IST
Authorities have unearthed a massive scam in
export of high-quality
Basmati rice to Iran, running into over Rs 1,000 crore.
NEW DELHI:
Authorities have unearthed a massive scam in export of high-quality Basmati
rice to Iran, running into over Rs 1,000 crore, in which the
commodity was fraudulently diverted mid-sea to Dubai. According to a probe
being done by the Directorate of Revenue Intelligence (DRI), over two lakh
metric tonnes of Basmati rice was illegally offloaded in Dubai in the last over
a year instead of in Bandar Abbas in Iran, official sources said. Over 25 big
exporters from Haryana and Punjab are under the scanner of DRI and other agencies
for their involvement in the multi-crore scam, they said.
Explaining the modus operandi, the sources
said rice would be taken to Gujarat's Kandla Port by these exporters. They
would then file Shipping Bills--documents filed with customs authorities carrying
details of goods to be exported, consignor and consignee--for export to Iran,
they said. Instead of the consignment reaching Iranian shores, it would be
diverted mid-sea to Dubai allegedly with the connivance of cargo ship operators
carrying the goods. Surprisingly, payments were also made from Iran
to these exporters in India. Importers and port officials would allegedly
acknowledge the receipt of rice and allow payment to be made against it here,
the sources said. What is worrying for intelligence agencies here is that they
do not know the end-use of rice off-loaded in Dubai. They suspect use of rice
as barter system to fund some illegal activity like terror financing, the
sources said.
The DRI has red-flagged the scam at the
highest level and is in touch with authorities concerned in Dubai about the
scam. Prima facie, two lakh metric tonnes of rice valued at about Rs 1,000
crore has been off-loaded in Dubai instead of Iran, they said. While India lost
foreign exchange which it could have got from Dubai in case of genuine trade,
Iran was also deprived of customs duty it would have been entitled to if rice
was delivered at its shore, the sources said. The authorities suspect the
proceeds of the scam assumed the form of black money. The DRI has informed
Supreme Court- appointed Special Investigation Team on black money about the
case. It has also roped in the Enforcement Directorate to look into the matter,
they said. Legal export of rice from the country has risen in the past two
years. India had exported 2,77,880.22 kg of Basmati rice to United Arab
Emirates in 2014-15. About 4,11,776.06 kg of rice had been sent to the UAE
between April and November 2015, as per the latest data of export compiled by Directorate
General of Foreign Trade.
Only American on Amadeus Silver II cruise
February 28, 20165:38 PM MST
I’m the only American on thisAmrascruise aboard theAmadeus Silver II.I’ll say it once more because it has never
happened before and most likely will never happen again – I am the only
American on this cruise.
Jackie Sheckler Finch
Jackie Sheckler Finch
What an
adventure!
So far,
it has been a breeze. A driver was waiting holding a card with my name when I
exited the airport in Basel. My Amras contact had already told me to exit on
the French side of the airport, rather than the German one. Many people make a
mistake and go out the wrong side so I was glad to be forewarned by Amras. On
my previous arrivals in Basel, I needed to exit on the German side so this was
a bit different.I was the onlySilver
IIpassenger arriving on this flight so I had the
plush taxi all to myself. The driver didn’t speak English but he smiled a lot
and insisted on carrying my one suitcase.It was only about a 20-minute ride
from the airport to the ship. Even though I arrived at the ship around 11 a.m.,
my stateroom was ready. I was happy to be able to unpack, take a shower and get
ready for a wonderful five-day cruise on the Rhine.As I said in my first
preview blog about the cruise, I am taking two back-to-back cruises on theSilver II. Since it is such a long flight from
Indianapolis to Europe, I am combining two cruises for an 11-day river journey.
The second six-day cruise is also on the Rhine.
Sleek and silvery ship
The
Amadeus Silver II is a beautiful ship and lives up to her name. She sparkles
and shines. Launched in 2015, the Silver II has four decks and can carry 168
passengers. As a nod to her Amadeus heritage, the decks are namedMozart, Strauss and Haydn. I am on Mozart.My
cruise has 80 passengers, most of whom are German or Israeli with a small group
of Japanese. The Israelis are traveling with their own guide and will be doing
their own activities as well as eating at tables reserved for them. Although
all ship personnel speak English, the main languages on this cruise are Hebrew
and German, I am definitely in the minority. I don’t speak either of those.
The average age of passengers seems to be about
60 although there is a young New Zealand couple taking their first river cruise
and their first trip to Germany and France. The cruise will be going from Basel
to Cologne, Germany. We mostly have two shore excursions each day, one in the
morning and one in the afternoon.
Since this is embarkation day, our program is
shorter than usual. This first day we had tea time from 4 to 5 p.m. in the
Panorama Bar. Along with tea and coffee, the welcoming buffet had bunches of
little sandwiches and sweets. We will be having dinner in a couple of hours so
I tried to steer clear of the delicious fresh pastries. Took will power not to
eat more than one strudel.
At 6 p.m., we had the obligatory safety and
ship briefing, followed at 6:30 by the captain’s welcome with an introduction
of ship officers and a champagne toast.
First dinner aboard Silver II
Dinner was served at 7 p.m. in the restaurant.
It doesn’t have a fancy name – just The Restaurant. Dinner is one seating and
seats are assigned. The Israeli tour group, of course, was seated together at
several tables. Germans also were seated together or as couples at individual
tables as were the Japanese. Since the cruise is only half full, it is possible
for couples to have tables all to themselves.
I was assigned to sit at a table with a 40ish
man named Alex from the United Kingdom. Maître d' Roman said we had been seated
together because we both speak English. Alex is on a business cruise. He
arranges tours for clients, especially for travelers with disabilities and is
on the Silver II to learn more about the ship.
It is interesting to see the ship through
Alex’s eyes looking for disability access and I think I will learn quite a bit
from him in the next few days. Alex is stubborn and uses crutches, although he
said he could easily be a wheelchair user. He also told me that he has outlived
his projected lifespan and greets each day as a gift. That is a good attitude
for everyone to keep in mind.
The dining room is beautiful as is the whole
ship. The décor is very appealing to me – light and open, elegant but simple.
Floor-to-ceiling windows are everywhere. The dominant colors are deep mauve and
ivory. Lighting fixtures are sparkly crystal.
Cuisine is considered international with an
accent on Viennese. Judging from the afternoon tea and first dinner, I am going
to be quite happy with whatever label is given the food served aboard Silver
II.
Here is theWelcome
Dinner Menu. It is quite a lot to type in but look at it
and consider what you would order if you were here:
Beef Carpaccio Marinated with Truffle Oil, Old
Aceto Balsamico and Ruccola Salad
Or
Caesar’s Salad
Beef Consumme with Sherry and Puff Pastry
Or
Chili Corn Cream Soup
Tortellini Pasta with Truffle Sauce and
Parmesan (appetizer for everyone)
Roasted Lamb Shank with Fresh Vegetables,
Creamy Polenta, Lamb Jus and Gremolata
Or
Grilled Fillet of Salmon with Potato Carrot Crust, Curry Sauce, Sautéed Savoy
Cabbage, Snow Peas and Basmati Rice
Or
Steamed Chinese Cabbage with Basmati Rice, Lemon-Soja Sauce and Asian
Vegetables.
Stuffed Macaroon and Caramel Parfait
Or
Vanilla Ice Cream with Fresh Strawberries and Grand Marnier
Quiz:
What’s the right diet for you?
Are you a feaster, emotional eater or constant craver? Take our
quiz to find out what kind of eater you are and how that impacts your ideal
diet.
BySiobhan Hegarty
22
JUL 2015 - 11:35 AM
UPDATED 24 FEB 2016 - 12:53 PM
The three-part documentaryWhat's the right diet for you?starts 8.30pm Thursday 3 March on SBS.
What type
of eater am I?
·a)
Once I start, I can't stop.
·b)
I want to eat all day, every day.
·c)
It's my go-to when anxious or sad.
·a) Once I start, I can't stop.36.5%
·b) I want to eat all day, every day.32.2%
·c) It's my go-to when anxious or sad.31.3%
Answered a)? You’re a ‘Feaster’
Recent scientific studies show gut hormones can have a strong
influence on our appetite. If you’re a feaster, you’re likely to possess low
levels of a gut hormone that tells you when you’re full.
What does this mean?Once you start eating you’re unlikely to feel the satisfaction
of fullness, so you keep on munching.
What’s the best diet?Seeing as you find it hard to stop eating, it’s best to choose
foods that reach your gut hormone and make you feel fuller for longer. These
are foods that are high in protein, such as fish and chicken, and low in
glycemic index (GI) – pasta, lentils and basmati rice are great examples.
What not to eat?Be careful with your carbs!
Potatoes along with most rice varieties and breads are carbohydrates that are
quickly processed by the gut and, hence, won’t keep you sated.
For most people, when our fat stores reach a sufficient level,
our brains receive signals telling us we no longer need to eat. If you’re a
constant craver, you possess genes which disrupt the way these signals are
received, tricking the brain into thinking the fat stores constantly need
replenishing.
What does this mean?You’re hungryall of the gosh darn time!
What’s the best diet?Because you’re constantly craving food, dieting seven days a
week will be a serious struggle. Instead, try dramatically reducing your
calories on two days of the week. This is known as ‘intermittent fasting’.
Severely limiting your calorie intake should shock your body into burning
carlories.
So how many calories are we talking?It’s best to seek guidance from a medical professional before
starting your fast as it’s not recommended for all body types. Most contestants
onWhat’s The Right Diet For You?fit into the obese category, so they were given a limit of 800
calories on fasting days, however, other programs, such asMichael Mosley: Eat, Fast & Live Longersuggest 500 calories for women and 600 for men will be
sufficient.
What can I eat?The good news is, five days per
week you can eat whatever you like! Try to keep it healthy. For the two fasting
days, it’s best to stick to small portions of meat, fish, eggs and vegetables.
Some fasting programs, such as those showcased on the Michael Mosley
documentary, say you can eat whatever foods you like on a fasting day, whileWhat’s The Right Diet For You?argues you should avoid carbohydrates, like bread, pasta and
fruit.
In stressful situations, our brains are primed to seek out
rewards. Everyone is programmed differently: some people seek out
alcohol, while others prefer a jog. If you’re an emotional eater, you supress
negative feelings with food.
What does this mean?When you’re experiencing stress, anxiety, anger or sadness you
seek comfort in foods that are high in sugar and fat.
What’s the best diet?Stick to a low-calorie diet.
Is that all?No. Your unhealthy relationship
with food is less about your physiology and more about your emotions. People
cannot will themselves to lose weight, but they can develop healthy eating
habits.
Do you have any tips?One established way to creatie healthy habits is to seek out
group support. Attend weight loss meetings and reach out to online groups that
can offer a 24/7 touch point. It’s also a great idea to start a dieting diary
and look at cognitive behavioural therapy.
Quiz inspired by What’s The Right Diet For You?starts 8.30pm Thursday 3 March on SBS.
MORE
EATING INTEL
Eat well: Can you be addicted to
food?
Are you a “carb craver” or
“chocaholic”? We often use language associated with addiction to describe our
relationships with food. But is it really possible to be addicted to certain
types of food?
10 meaty truths you need to know
From the journalist who brought
us the truth about fasting, comes food doco Should I Eat Meat?. Britain's
Michael Mosley looks at the pros, cons and potentially dangerous aspects of red
and processed meat. Here, we get down to the science-y details so you can
separate the saturated fat from the L-Carnitine.
Eat well: How to work out how
much food you should eat
Whether you prefer a mathematical
or instinctive approach to kilojule counting, it's essential to consider all
the variables. And remember, if your clothes are getting tighter, you’re
probably consuming more kilojoules than your body needs.
APEDA RICE COMMODITY NEWS
International Benchmark Price
Price on: 29-02-2016
Product
Benchmark
Indicators Name
Price
Apricots
1
Turkish
No. 2 whole pitted, CIF UK (USD/t)
4625
2
Turkish
No. 4 whole pitted, CIF UK (USD/t)
4125
3
Turkish
size 8, CIF UK (USD/t)
3625
Honey
1
Argentine
85mm, CIF NW Europe (USD/t)
2310
2
Argentine
50mm, CIF NW Europe (USD/t)
2365
3
Argentine
34mm, CIF NW Europe (USD/t)
2420
Peanuts
1
South
Africa, HPS 70/80 peanuts CFR main European ports (USD/t)
1875
2
South
African, HPS 40/50 peanuts CFR main European ports (USD/t)
1000
3
Argentinean
38/42 runners, CFR NW Europe (USD/t)
1425
Source:agra-net
For more info
Market
Watch
Commodity-wise, Market-wise Daily Price on 27-02-2016
Sandhill cranes feed on insects and other
critters in the dirt Feb. 20 in a field near Highway 99 west of Oroville.Dan
Reidel — Enterprise-Record
Nelson >> Seeing birds — a lot of birds —
is nothing new nor surprising for residents of the Sacramento Valley. However,
there’s a hotspot for Sandhill cranes that is causing excitement among even the
most savvy local bird enthusiasts.
Four hundred... 1,000... 3,000 sandhill cranes
in one spot? Birds come and go and the estimates vary. All agree, it’s a lot of
birds.
BIRD
SPOT
The hotspot is very close to the west side of
Highway 99, across the roadway from Schlaf Drive. If traveling south from
Chico, continue onto Highway 99 instead of taking Highway 149 toward Oroville.
The location is behind a cyclone fence just before reaching the rendering
plant. You’ll know you’ve reached the rendering plant because you can smell it.
BIRD
MYSTERY
The reason for the large congregation of birds
has been a mystery to some local birders, including Scott Huber, a
knowledgeable bird enthusiast who said he saw 1,000 birds at this location last
month.
“People have been coming from all over to see
the gathering,” Huber said.
This same spot has been a favorite for the big
birds for a few years now.
Sandhill cranesare a large migratory bird with gray feather
and a crimson cap. They begin to arrive in the Sacramento Valley in September
or October, then return to spring nesting spots in Alaska, Siberia and Northern
Canada. They will also nest in Modoc and Lassen counties, in tules and
marshland, explained Jay Bogiatto, who works in the Biological Sciences
Department at Chico State University.
TheCornell
Lab of Ornithologyexplains
that sandhill cranes prefer moist, open land. Rice fields fit that description,
particularly when they are only partially flooded. Sandhill cranes are fun to
watch, and during courtship they hop along the field, unfurling their wings in
a gangly dance.
BIRD
MYSTERY SOLVED
Bob Brown, who loves birds, owns the land where
what some folks have described as a “bird blizzard” is happening. He bought the
property in 1992 and is more than thrilled that cranes and other birds are
seasonal guests.
For decades, Brown has made choices to enhance
wildlife, including placing bird boxes along the fence and providing piles of
brush for birds.
This
material is really the end-of-the-end for rice. The rice hulls have already
been separated for use in Santa Rosa as chicken bedding, Brown said. The
truckloads of material he receives are literally rice industry dust (a lot of
it) and bits of the rice plants. In bulk, the material is spread over the land.
Rains help turn the material into mulch. This particular area of land does not have rich
soil, he explained. His goal was to add nutrients to the soil. What happened
was a bird bonanza.
WHAT
BIRDS WANT
Most
likely, the mulch is a hotbed for worms and other insects, which are a favorite
of many types of birds. Brown said cranes will nibble at leftover rice in rice
fields. However, he knows the material he receives does not contain very much
leftover rice.
When the
Enterprise-Record stopped at the cyclone fence along Highway 99 last week, most
of the birds were rooting around in the soil.
Brown
said a biologist from The Nature Conservancy recently visited the land, and at
that point there were about 2,000 cranes at the location.
The
state of California might host 9,000-15,000 Sandhill cranes each year, Bogiatto
said.
From the
numbers spotted by Brown and Huber, that would mean 10-20 percent of all the
cranes in California landed at Brown’s field covered with rotting rice dust.
That’s
the kind of bird sighting bird watchers talk about.
Brown
said birders have shared the location on their web pages and blogs. However, if
you’re thinking about racing out there this weekend, prepare for disappointment.
As of last week, the cranes were leaving in large numbers. Brown said they
might now be gone for the season. Although other resident birds are probably
still in the area.
LISTEN
AND LEARN
Brown
knows the birds well and has literally spent entire days watching the cranes be
cranes.
The
birds make a move about midday, he learned after many hours of observation.
“When
the temperatures get just right they start circling around,” in the sky.
At this
point, the cranes start making a lot of noise, Brown said. He can see the birds
are high in the sky, but the sound is as if the birds are right next to you.
The chatter attracts more birds, which join the circle in the sky. After time
passes, the birds fly off.
Last
week, the Enterprise-Record spotted about 400 cranes at this particular
location, and hundreds of geese, duck and blackbirds.
Huber
clarified that these were American wigeons and red-winged blackbirds. He also
spotted swans when he peered through the fence earlier in the season.
FLOCK OF
BIRD WATCHERS
“My
original intention was that the soil quality would be improved,” Brown said.
“It turned out better than I thought, attracting wildlife like crazy.”
Brown is
clearly enjoying the experience, as are others.
One day
he talked with a member of the Audubon Society who was peering through the
cyclone fence with a high-powered scope. The Audubon bird watcher said some of
the cranes wore bird bands places on the birds in 1996.
Fish and
Wildlife officials have been in contact with Brown as well. It would be preferred
that the birds not be disturbed, Brown said.
In
previous years, the rice mulch was spread further from the road, Brown said.
The birds flocked to this land, but were not visible by people driving along
Highway 99.
Brown
said this location is better because the land is flat. Bird experts are hoping
people are respectful if they stop to view the birds.
