June 05, 2016
KARACHI:
Rice traders on Saturday expressed disappointment over the budget 2016/17 for
not proposing measures to increase exports.Chief Patron Rice Exporters
Association of Pakistan (REAP) Abdul Rahim Janoo, in a statement, said the
exporters urged the government to declare rice sector as separate industry and
place it under zero-rate regime. “However, the government didn’t include our
recommendations into the finance bill,” Janoo said. He also said
rice export is the second largest earner of more than $2.2 billion foreign
exchange per annum. But, the government has completely neglected this sector in
the budget.
“REAP
has sent several recommendations for the betterment of rice export trade, which
were not considered by the government; even one very important suggestion of
one window operation for the collection of all taxes is ignored,” he
added. The statement said the sales tax refund claims of rice exporters
have been pending since long.“We also request the government to pay back
exporter refunds at the earliest,” Janoo said. “We request the Prime Minister
and Finance Minister to take urgent steps for the survival of this very import
sector and include this sector into zero rate regime, so that our dream of
achieving $4 billion up to the end of 2018 may come true,” said the statement
http://www.thenews.com.pk/print/125299-Rice-traders-disappointed-over-budget
Published: June 6, 2016
Govt expects only 10.7% rise in exports, way
short of the required pace. PHOTO: REUTERS
ISLAMABAD: A projected 10.7% growth in
exports for fiscal year 2016-17 runs contrary to the government’s ambitious
plan to take export earnings to $35 billion by the end of 2017-18 under the
three-year Strategic Trade Policy Framework.The $35-billion target, which was
set just two months ago, needs a much more rapid rise in annual earnings and a
meager 10.7% growth will not be sufficient to meet the goal, say experts. Under
the annual development plan released by the federal government with the budget
for 2016-17, exports in the new fiscal year are projected to rise 10.7% to
$24.8 billion from an estimated $22.4 billion in 2015-16.
Imports are forecast to grow 14.7% to $45.2
billion in the upcoming fiscal year 2016-17 compared to an estimated $39.4
billion in the outgoing year 2015-16. Consequently, the trade deficit will be
$20.4 billion in 2016-17 as opposed to a projected $17 billion in 2015-16.
However, experts point out that the government
wasted an entire year in framing the Strategic Trade Policy Framework 2015-18
and now it has set only a 10.7% export growth target for the second year of the
framework. In this scenario, the country will find it extremely difficult to
hit $35 billion in export earnings by the end of fiscal year 2017-18.“The
$35-billion export target is unlikely to be achieved by June 2018; there must
be at least 30% growth each year to meet this goal,” commented an official of
the Ministry of Commerce.
Trade-boosting steps
In the annual plan, however, the government has
outlined a number of initiatives to forge regional connectivity in an effort to
boost bilateral and multilateral trade with countries in the region.
The key measures include the resolution of
outstanding issues in the Afghanistan-Pakistan Transit Trade Agreement and
initiation of negotiations and early conclusion of the Afghanistan, Pakistan
and Tajikistan Transit Trade Agreement.
Effective implementation of the International
Road Transport (TIR) convention and reactivation of the Quadrilateral Transit
Trade Agreement among Pakistan, China, the Kyrgyz Republic and Kazakhstan are
also in the priority list of government initiatives.Apart from these,
formulation of the Pakistan, Afghanistan and Central Asia regional economic
integration framework through a regional trade office in the Ministry of
Commerce is also part of the priority list. The government claims that the
initiatives have been planned by taking all the stakeholders and relevant
ministries on board.
For a short-term boost to exports, basmati
rice, horticulture goods, meat products and jewellery will be given preference
with focus on the markets of Iran, Afghanistan, China and the European Union.To
market Pakistan’s high-quality rice, the government will facilitate the import
of parboiling machinery and provide incentives for branding and certification.
Assistance will also be ensured for developing warehousing facilities in Iran
and Saudi Arabia.Basmati rice, kinnow and meat products can capture Iran’s
market following the lifting of international sanctions from Tehran. Under a
strategy, infrastructure will be developed for access to the Iranian market
through the land route.
On the other hand, rice, cotton yarn, fabrics
and garments could be exported to China through strategic interventions. The
government will update the stakeholders on concessions under the China-Pakistan
free trade agreement (FTA) and will put talks on second phase of the FTA on a
fast track.
Agri-exports
Under the annual plan, the government will
provide 50% support for the import of new plant and machinery for specified
under-developed regions. Besides, it will offer 100% mark-up support on the
import cost of new plant and machinery for industrial units across the country.
A matching grant up to a maximum of Rs5 million
will be provided for specified plant and machinery or other specified items to
encourage innovation in the small and medium enterprises and export sectors.A
common facility centre for the surgical instrument industry will also be
established to push export of its products.
the writer is a staff correspondent
Published in
The Express Tribune, June 6th, 2016
http://www.thenews.com.pk/print/125299-Rice-traders-disappointed-over-budget
India’s exports dip in value,
but volumes up; hope floats on demand
India’s merchandise exports
may have suffered for a second straight year in 2015-16 in value terms, but
volumes of outbound shipments rose in most cases
So while the country’s overall exports plunged
almost 16% in dollar term and 10% in rupee term, excluding oil, the exports
dropped just 8.7% in dollar terms and just 2.1% in rupee terms.(Reuters)
India’s
merchandise exports may have suffered for a second straight year in 2015-16 in
value terms, but volumes of outbound shipments rose in most cases, suggesting
the contraction in export value was driven more by a global commodity price
crash than by a slowdown in overseas demand, showed a report by the directorate
general of foreign trade (DGFT).
Commodities — including organic and inorganic
chemicals, cotton yarn, basmati rice, base metals, dyes, paint, varnish and
allied products — recorded growth in volume terms in 2015-16 (in the range of
3.8% to over 47%) even though their export value contracted from a year before
(See the chart).
The DGFT report is based on an analysis of 168
principal commodities — excluding petroleum and bullion products — for which
data are available in both value and volume terms. The value analysis in the
report is in rupee terms.
This mirrored the phenomenon after the global
financial crisis, when exports value suffered to a lower extent but volume
growth remained almost stable (in 2009-10). In good years, though (for
instance, 2010-11, when export grew nearly 40% in dollar terms), the rise in
export value was driven by a broad-based and an even sharper rise in volumes, a
senior commerce ministry official told FE.
Interestingly, certain items — value-added ones
such as drug formulations, biologicals, bulk drugs, drug intermediaries and also
items like spices, coffee, unmanufactured tobacco — managed to beat the global
crash in commodity prices, as export value of these products rose in the last
fiscal even when volumes shrank (in the range of 1.2-44.8%).
Global commodity prices plunged 28% in 2015-16
from a year before, driven by a sharp 40% crash in prices of oil, 20% in
industrial metals and 7.5% in gold, according to a report by Yes Bank.
So, the maximum impact of the commodity crash
was reflected in oil export value, which makes up for roughly 20% of the
country’s total outbound shipments.
Consequently, roughly 55% of the $48-billion
fall in India’s exports in the last fiscal was caused by lower petroleum
exports.
So while the country’s overall exports plunged
almost 16% in dollar term and 10% in rupee term, excluding oil, the exports
dropped just 8.7% in dollar terms and just 2.1% in rupee terms.
Export of both goods and services, in real
term, dropped 5.2% in 2015-16, compared with a 1.7% rise in the previous year,
showed the latest GDP data.
According to the DGFT report, yet another
category of items showed a rise in exports in both value and volume terms,
defying a demand slowdown. These commodities include plastic raw materials,
agro chemicals, cotton (including waste), sugar, tea, cereal preparations and
ayush & herbal products.
Taking note of a slowdown in China and
financial market volatility, the World Trade Organization in April trimmed its
2016 global trade growth forecast by 1.1 percentage points.
It predicted that global trade would rise
2.8% in 2016, lower than its previous forecast of 3.9% announced in September
last year. This will be the fifth straight year of trade growth below 3%, which
is also much lower than the average annual expansion of 5% since 1990,
according to the WTO data.
Monsoon will hit Kerala in 48
hours: Met
Vinson Kurian
Heavy
rain likely for two weeks along West Coast region
Thiruvananthapuram, June 6:
The
India Meteorology Department has extended to Friday the outlook for heavy (7-11
cm) to very heavy (12-20 cm) rainfall at one or two places in Kerala as the
countdown for the monsoon onset continues.
Conditions
continue to be favourable for the onset of the South-West monsoon over the
Kerala coast during the next 48 hours, it said in a bulletin.
The 24
hours ending Monday morning witnessed rain at most places in the State and at
many places in Lakshadweep.
Stations
reporting heavy rain included Vaikom (8 cm) and Piravom (7 cm). Other chief
amounts of rainfall (in cm) are: Mancompu-6; Taliparamba and Kurudamannil-5
each; and Kayamkulam and Aluva - 4 each.
The Met
has retained the outlook for strong westerly winds with speeds occasionally
reaching up to 55 km/hr along and off the Kerala coast and over the Lakshadweep
archipelago for the next 24 hours.
There is
an emerging model consensus on the probability of heavy-to-very heavy rain
along the West Coast for the first two weeks after the onset of the monsoon.
A
cyclonic circulation over East-central Arabian Sea off Karnataka should keep
the pot boiling here as it breathes in moisture-laden winds from the Arabian
Sea and pumps rain along the coast.
Heading north
Projections by most models suggest that the circulation will carry with it the
‘leading edge’ of the monsoon further into the north into Goa, Konkan-Mumbai,
and adjoining Gujarat.
On the
other side, a persisting cyclonic circulation over the West-central Bay of
Bengal off the Andhra Pradesh and South Odisha coast will keep the monsoon in
good stead over the East Coast.
The
presence of a cyclonic circulation on each side of the peninsula will ensure
that most parts of the interior peninsula too will stay wet, with heavy rain
forecast over Central Maharashtra and its neighbourhood.
Storm watch
The European Centre for Medium-Range Weather Forecasts is of the opinion that
the cyclonic circulation off the Andhra Pradesh coast may intensify as it moves
north-east towards the Gangetic West Bengal coast.
The
agency has put a watch for intensification of the system into a minor storm by
Saturday before it washes ashore over the Bangladesh coast the next day.
A storm
tracker of the US Climate Prediction Centre agrees with this scenario but
indicates a ‘splash-over’ at the Gangetic West Bengal coast instead of
Bangladesh.
Meanwhile,
ideal conditions for the onset and advance of the monsoon are evolving
elsewhere with seasonal heat-wave conditions getting anchored over North-West
India. A severe heat wave has been reported from isolated places over
Rajasthan, while it was only slightly cooler over Gujarat and West and East
Madhya Pradesh during the 24 hours ending on Monday morning.
The
extent to which the North-West heats up will determine how low atmospheric
pressure can get so that the monsoon winds can blow in from a high-pressure
area in the Arabian Sea/Bay of Bengal.
(This article was published on June 6, 2016)
http://www.thehindubusinessline.com/economy/agri-business/monsoon-will-hit-kerala-in-48-hours-met/article8697198.ece
Golden rice: The malnutrition
fighting crop
Golden Opportunity?
Over the
past two decades, Bangladesh has remarkably managed to feed an increasing
population better - the UN's Food and Agricultural Organization estimates that
in 1993, the average Bangladeshi had access to just 2,000 calories per day,
whereas today that number has increased to 2,450 calories per day. To a large
extent, this success comes on the back of ever-higher rice production - rice
makes up 70 percent of the average daily calorie intake.
Unfortunately,
rice may make an empty stomach feel full, but it lacks many vital
micronutrients. The latest survey shows three-quarters of all children deficient
in vitamin A. This matters because studies show that every day an estimated 88
children in the country go blind due to vitamin A deficiency. And each year,
the condition is responsible for 28,000 deaths of children under age 6.
Furthermore, chronic undernourishment leads to stunting, which hinders
cognitive and physical development and affects about six million Bangladeshi
children.
One
solution is to provide vitamin A in capsules, which reach about 63 percent of
children. It would also be good to get more children to eat other foods rich in
vitamin A, but this is a challenge of both education and income, bounded by the
70 percent of rice intake. But what if there was a cheap and effective way to
exploit that rice to get more vitamin A to everyone?
New
research by Uttam Deb, an economist at the International Crops Research
Institute for the Semi-Arid Tropics, suggests that investment in the
development and dissemination of golden rice can help Bangladesh overcome
vitamin A deficiency and its related blindness and deaths. Each taka spent on
golden rice could do up to 329 takas of good.
Research
on golden rice began in the 1990s as an effort to develop a type of rice that
could counter malnutrition. The rice is fortified with beta-carotene, which is
converted into vitamin A inside the body, and also gives the strain of rice it
its colour. Because the rice is enhanced with micronutrients, widespread
adoption of it holds the potential to combat the critical vitamin A deficiency
in Bangladesh, which would be incredibly valuable for the country.
Not only
would the beta-carotene-fortified rice combat malnutrition, golden rice also
has higher crop yields than many improved varieties. So benefits from its
cultivation would arise both from increased crop productivity as well as the
positive health effects. Furthermore, golden rice is a Boro rice, so the
geographic areas where it is most likely to succeed in the field overlap
considerably with the areas where nutrition deficiencies are highest in
Bangladesh.
The costs
to release golden rice for cultivation by 2018 include funding for research and
development to continue to adapt it to the Bangladesh environment. It would
also require paying costs for crop trials, extension services, seeds,
marketing, and education. In total, the costs would be more than Tk. 800
million.
When it
comes to benefits, golden rice is not a panacea for fighting vitamin A
deficiency in Bangladesh, it should rather be seen as a complement to existing
initiatives that provide nutritional supplements to unreached people. Deb's
analysis estimates that this strategy holds the potential to reduce vitamin A
deficiency nationwide by roughly 3 percent, assuming that 30 percent of the
population would adopt the rice as part of their regular diet.
In reviewing
Deb's research, Saul Morris of the Children's Investment Fund Foundation and
Sue Horton of the University of Waterloo separately noted the lack of
significant causal relationship between vitamin A deficiency and the greater
risk of stunting. However, Deb points out that most studies show that fighting
vitamin A deficiency can have a positive, if small, impact on stunting. He
concludes that the cultivation and dissemination of golden rice could decrease
stunting by up to 3 percent nationwide, perhaps preventing approximately
165,000 children from becoming stunted. When added together, the value of these
health benefits is more than Tk. 175 billion.
In
addition, golden rice stands to increase rice yields by up to 10 percent. This
estimated productivity gain should be taken as optimistic, given that
scientists are also breeding other new, higher-yielding rice varieties that
could benefit farmers in the absence of golden rice. But even if the average
yield increases by just 5 percent when compared to the existing BRRI dhan29
rice variety, Bangladeshi farmers would still benefit by nearly Tk. 110
billion.
Overall,
the health and productivity benefits combined could equal up to Tk. 285
billion. Each taka spent toward adoption of golden rice in Bangladesh could do
up to 329 takas in benefits. The eminent panel of local and international
experts, who reviewed all Bangladesh Priorities research, concluded that Deb's
analysis may be on the optimistic side. However, they also noted that most of
the costs to develop golden rice have already been incurred, that the variety
holds potential to improve upon the status quo, and farmers can choose to use
it or not. For those reasons, they found it a worthwhile strategy that could
provide net benefits regarding both farmer productivity and health measures.
Is
golden rice one of the smartest solutions for Bangladesh? Let us hear from you
at https://copenhagen.
fbapp.io/malnutritionpriorities. We want to continue the conversation about how
to do the most good for every taka spent.
The
writer is president of the Copenhagen Consensus Center, ranking the smartest
solutions to the world's biggest problems by cost-benefit. He was named one of
the world's 100 most influential people by Time
magazine.
FEATURE: Rice straw proven
effective to lengthen tomatoes’ freshness
- June 05, 2016
- Freddie G. Lazaro and
Lord Ian R. Galano
BATAC
CITY, Ilocos Norte, June 5 (PIA) - - A group of researchers of the Mariano
Marcos State University (MMSU) has proven the dried rice hays are effective
stuff to lengthen the freshness of tomato fruits.
Professor
Maura S. Gabriel, the research team leader, said her group realized the conduct
of the study in 2013 to address the perennial problem on large volume of wasted
tomato due to fast rotting.
“There
is usually an oversupply of tomatoes in the locality from January to April.
This compelled us to conduct a research on the best way to store tomatoes with
the use of dried rice straws and paper storage box,” said Gabriel.
During
the period of study, the data gathering was done periodically to know the
status of the quality of fruits: weight loss, rotting and shrivelling.
Through
the use of rice straws in the improved storage technology research, the
freshness of the tomato can now last for at most, 60 days.
The
result of the study showed the improved storage practice will help the farmers
to lengthen the shelf life of the tomatoes to reach its off-season months ready
for sale at a cost of Php60- P80 per kilo - much higher than its market
price of Php20.00 per kilo during regular season.
The
improved tomato storage technology involves appropriate and sequential
procedures in all activities done from harvesting, selection of fruits,
containers for packing, materials for incorporation, and the place of storage.
Gabriel
cited the improved tomato storage technology is convenient, easy to follow;
cost-effective, top store tomatoes within two months; and is effective
for eliminating if not reducing tomato fruit rotting.
The
procedures for this technology started with: harvest of the green mature
tomato in the morning; selection of fruits wherein fruits must be selected free
from insect damage and bruises; and storing tomatoes into containers with
dried rice straw with 2-3 centimeters thick placed in between layers of
tomatoes.
A box
must contain 8-10 kilograms. The packed tomatoes are then stored in an
open area, elevated using bamboo rack or “papag” to provide good ventilation.
http://news.pia.gov.ph/article/view/381464597877/feature-rice-straw-proven-effective-to-lengthen-tomatoes-freshness#sthash.lwe3rEGR.dpuf06/06/2016
2016 Riverina Rice Harvest: Stronger Yields
Results
06/05/2016 | 07:14pm EDT
SunRice
advises that the 2016 Riverina rice crop harvest is almost complete. At a
forecast of 245,000 tonnes, it is smaller than last year's harvest of 690,215
tonnes, with the reduction due mainly to lower water allocations.
The 2016
harvest yields have outperformed five year averages across the Riverina, with
yields for all regions and varieties averaging 11.0 tonnes per hectare compared
to the five year average of 10.0 tonnes per hectare. This is the highest
national average yield result achieved for the industry and reaffirms Australian
rice growers as the most productive and efficient in the world: the average
yield for countries that grow comparative temperate varieties is around seven
tonnes per hectare.
Growers
in the Murrumbidgee Irrigation Area (MIA) achieved standout increases, with
some realising medium grain Reiziq yields exceeding 15 tonnes per hectare.
Yields
are a critical element in generating gross profit margins for rice growers.
SunRice estimates that, for growers who planted medium grain Reiziq in the MIA
using the dry broadcast sowing method, this year's harvest generated an average
gross margin of approximately $3,400 per hectare and $280 per megalitre. Please
refer to the assumption and calculations at the end of this release*.
SunRice
attributes the increased yields to favourable growing conditions, such as
warmer weather and the use of more efficient farming techniques. The farming
techniques have been developed by SunRice's research and development
subsidiary, Rice Research Australia Pty Ltd (RRAPL), in close collaboration
with the NSW Department of Primary Industries, Rural Industries Research and
Development Corporation (RIRDC) and Rice Extension services.
Commenting
on the 2016 harvest and outstanding yields, SunRice's Chairman, Mr Laurie
Arthur, said:
'For
rice growers who persevered with planting rice this year, despite low water
allocations, the strong yields and subsequent returns represent a much needed
and well deserved reward.
'The
strong yields mean that overall harvest levels will exceed our initial
expectations.
'These
improved yields serve to reinforce independent research that demonstrates, on
an overall farm system basis, return on capital and cash flow levels from
planting rice are superior to other crop combinations. This is especially the case
when comparing rice with other commodities such as cotton, wheat, canola and
maize in the Riverina, some of which have experienced significant price
volatility in recent times.
'SunRice
is committed to facilitating our growers' profitability and to cementing rice's
position as the leading summer crop in the Riverina.
'In
addition to our focus on research and development, SunRice continues to
introduce programmes to assist our farmers, including the recently announced
fixed price / fixed volume contract for the 2017 crop, the GrowRice input
finance scheme and greater payment flexibility.
'SunRice
is experiencing significant demand for Australian rice across premium
international markets. While SunRice has the flexibility to source rice
internationally in lower Riverina crop years to meet this demand, which now
exceeds 1.25 million tonnes per annum, Australian grown rice remains the
cornerstone of our business and the foundation on which our brand and
reputation is built.'
* This
calculation assumes that an MIA rice grower using the dry broadcast sowing
method: achieved an average yield of 12.52 tonnes per hectare; received a price
of $415/tonne; incurred variable costs of $1,740/hectare; and used 12.25 ML of
water per hectare. The dry broadcast sowing method accounted for the majority
of the MIA crop harvested in 2016.
|
Yield (tonnes per hectare)
|
12.41
|
|
Price (A$)
|
$415
|
|
Revenue (A$)
|
$5,150
|
|
Total Variable Costs (A$)
|
$1,740
|
|
Gross Margin (per hectare)
|
$3,410
|
|
Water Use (ML)
|
12.25
|
|
Gross Margin (per ML)
|
$278
|
Media
inquiries: Sally Edgar
Sauce Communications
02 9640 8050 / 0425 247 133
sally@saucecommunications.com.au
http://www.4-traders.com/RICEGROWERS-LIMITED-20703509/news/2016-Riverina-Rice-Harvest-Stronger-Yields-Results-22475430/
Thailand
observes "Rice and Farmers' Day"
BANGKOK,
6 June 2016, (NNT) - Thailand on Sunday observed "Rice and Farmers'
Day", by staging a seminar to assist those on the way to professional
farming.
The Rice Department held the gathering at its headquarters in the Chatuchak
district in Bangkok.
The seminar exemplified Mr. Nopadol Sawangyati, a rice farmer from Ayutthaya
province who is a former engineer. The farmer said his success came from
applying his knowledge in rice, soil, water, business management, and rational
thinking.
Another agriculturalist from Surin, Kraiyoot Sawangsuk who is a law graduate
from Thammasat University, said that he acquired his basic agricultural
knowledge from a farmer who rented his land. Mr. Kraiyoot is now a facilitator
in agricultural marketing who promotes organic crop cultivation among farmers.
He said organic crops are specialist products that generate more income
compared to crops from farms that utilize pesticides.
http://thainews.prd.go.th/CenterWeb/NewsEN/NewsDetail?NT01_NewsID=WNEVN5906060010002#sthash.mrK7jZHd.dpuf
N. Korea's rice production to
rise in 2016: U.N. report
2016/06/04
20:17
SEOUL, June 4 (Yonhap) -- North Korea's rice
production this year is expected to rise to 1.6 million tons, a news media
report said Saturday, apparently due to favorable weather conditions.
Rice production this year is estimated at 1.6
million tons, an increase from 1.3 million tons from a year earlier, U.S.-based
media Voice of America (VOA) said, after quoting a report by the U.N. Food and
Agriculture Organization (FAO).
"The North's rice output is expected to be
more than 1.6 million tons this year," Kwon Tae-jin, an expert on the
North's agriculture at the GS&J Institute, was quoted by the VOA as saying.
"Weather, water and fertilizers were all well prepared."
FAO forecast the country will additionally import 100,000 tons of
rice this year to secure a total of 1.7 million tons, VOA said.
The agency further estimated the North to
produce 2.5 million tons of corn this year, about the same level as last year,
it said.
http://english.yonhapnews.co.kr/northkorea/2016/06/04/0401000000AEN20160604003600320.html
Global rice output still down
due to El Niño
Ronnel W. Domingo | Philippine Daily
Inquirer/ANN | Manila
Mon, June 6 2016 | 06:36 pm
Cows drink water at a pond during the dry
season on the outskirts of Phnom Penh, Cambodia, April 26. (AP/Heng Sinith)
The
prices of rice in the global market are still rising as lingering El
Niño-related droughts continued to affect negatively the outlook for rice
production in 2016, according to a United Nations-supervised monitoring system.
Based on
the latest monthly market report of the Agricultural Market Information System
( Amis ), the rice production forecast for 2016 was lowered by one million tons
to 494 million tons.
Still,
the latest forecast is 1 per cent higher than the previous year’s estimated
output of 490 million tons.
“Prospects
for Bangladesh, Brazil and China deteriorate. Exporting countries are to
account for much of the 1-per cent upturn in global output,” the Amis said.
On the
other hand, the forecast trade volume was raised by 100,000 tons to 44.1
million tons. The new figure is still short of the estimated 44.7 million tons
traded the previous year.
“[Trade
is] still seen falling by 2 per cent year-on-year, on weaker import demand in
Asia,” the Amis said.
The
monitoring body noted overall conditions for the new season are favorable in
Southeast Asia.
In the
Philippines, rice growers have begun planting the wet-season crop, which
usually accounts for about three-fifths of yearly output.
“Planting
and field preparations are ongoing in Thailand, the Philippines and the US
under favorable conditions,” the Amis said. “End of season conditions for
[major exporter] Thailand’s dry season crop were poor due to the impacts of El
Niño witnessed throughout the season.”
Last
week, the Food and Agricultural Organization ( FAO ) said global food prices
rose for the fourth straight month in May, this time including rice prices, but
commodity markets are expected to be stable in the year ahead.
In a
monthly update of its Food Price Index, the FAO said solid production prospects
and abundant stocks pointed to “broadly stable” prices and supplies. In May,
the FAO’s Food Price Index averaged 155.8 points, rising by 2.1 per cent from
the 152.5 points in April.
In Memory, Gary DiGiuseppe
USA Rice was saddened to learn of
the passing of Gary DiGiuseppe, a longtime Arkansas journalist and newscaster,
who was killed in a car accident last week on his way to work from his home in
Maumelle, Arkansas. DiGiuseppe, 60, was the morning newscaster on KARN, a
Little Rock radio station, and also provided daily newscasts for the Arkansas Radio
Network, where he was once farm director.DiGiuseppe was a graduate of
Eastern Michigan University and a member of the National Association of Farm
Broadcasting since 1983. He worked at stations and networks in Fort Dodge,
Iowa; Jefferson City, Missouri; and Milan, Michigan.Funeral services were held
this past weekend in Michigan, but a memorial service is scheduled for 1:00 pm
Friday, June 10 in Little Rock at the Roller-Chenal Funeral Home Chapel, 13801
Chenal Parkeway. USA Rice extends heartfelt condolences to the family and friends
of Gary DiGiuseppe
U.S. Medium Grain Breaks into
Hong Kong Fast Food Market
HONG KONG, CHINA -- Chewy
International Foods Ltd, a leading food supplier here that began importing U.S.
medium grain rice four years ago, has developed a special brand name tailored
for both the retail and food service markets, and has begun a promotion
campaign featuring the U.S. rice.
Chewy is promoting the new brand, "Kumai", at Fairwood, the second
largest fast food chain in Hong Kong with more than 140 outlets offering a wide
variety of local Chinese and Western dishes.
The promotion started last month
and will run through September with three medium grain rice dishes to choose
from including "Thick-cut Pork Cutlet with Calrose rice" at both
lunch and dinner, and includes free samples of U.S. rice being distributed to
customers in the restaurants.
"Chewy has helped us displace
the Thai rice with U.S. medium grain at Fairwood restaurants for the duration
of this promotion at least," said USA Rice Vice President of International
Promotion Jim Guinn. "Fairwood serves more than 100,000 customers each day
making this the largest fast food promotion for U.S. rice by far. Chewy is also
promoting U.S. rice to a local sushi chain here with more than 60 outlets,
making them a truly valued partner and ambassador for U.S.-grown rice."
Thai rice has dominated the Hong
Kong market for years, but that may be changing. Guinn said Chewy is also
promoting U.S. rice in mainstream supermarkets here because "they believe
in the quality of our rice, wanted consumers to have more choices, and believe
our rice will be accepted as a premium grade rice."
Farm Bureau Market Report
Soybeans
|
High
|
Low
|
|
Cash
Bids
|
1143
|
1071
|
|
New
Crop
|
1109
|
1055
|
|
|
Riceland Foods
|
|
|
Cash
Bids
|
Stuttgart:
|
Pendleton:
|
|
New
Crop
|
Stuttgart:
|
Pendleton:
|
|
|
|
Futures:
|
|
|
SOYBEANS
|
|
|
High
|
Low
|
Last
|
Change
|
|
|
|
|
|
|
Jul
'16
|
1162.00
|
1136.50
|
1139.25
|
+7.25
|
|
Aug
'16
|
1154.25
|
1130.75
|
1133.75
|
+11.75
|
|
Sep
'16
|
1134.25
|
1110.25
|
1117.75
|
+16.50
|
|
Nov
'16
|
1118.50
|
1093.25
|
1105.00
|
+19.75
|
|
Jan
'17
|
1113.75
|
1089.50
|
1100.75
|
+18.25
|
|
Mar
'17
|
1081.00
|
1057.00
|
1071.75
|
+16.25
|
|
May
'17
|
1066.00
|
1044.00
|
1057.50
|
+11.50
|
|
Jul
'17
|
1061.25
|
1045.50
|
1055.50
|
+11.75
|
|
Aug
'17
|
|
|
1030.00
|
+4.50
|
|
|
Soybean Comment
Soybeans surged again today, though prices
closed well off the intraday highs. New crop soybeans closed back above
resistance at $11 and continue to surge on improved demand particularly in the
meal market. The current uptrend in soybeans continues to push prices into
overbought territory. The market will remain volatile as we approach this next
USDA supply and demand report and the final acreage report which will be
released at the end of the month.
Wheat
|
High
|
Low
|
|
Cash
Bids
|
510
|
459
|
|
New
Crop
|
507
|
482
|
|
|
|
Futures:
|
|
|
WHEAT
|
|
|
High
|
Low
|
Last
|
Change
|
|
|
|
|
|
|
Jul
'16
|
514.75
|
496.00
|
507.50
|
+10.25
|
|
Sep
'16
|
524.50
|
505.50
|
517.75
|
+11.00
|
|
Dec
'16
|
540.00
|
521.50
|
535.50
|
+12.50
|
|
Mar
'17
|
556.00
|
540.25
|
552.50
|
+12.50
|
|
May
'17
|
566.00
|
551.75
|
563.00
|
+11.75
|
|
Jul
'17
|
573.00
|
559.00
|
570.50
|
+11.25
|
|
Sep
'17
|
575.75
|
564.00
|
573.00
|
+7.50
|
|
Dec
'17
|
586.75
|
574.00
|
584.25
|
+9.25
|
|
Mar
'18
|
591.75
|
584.50
|
591.75
|
+8.50
|
|
|
Wheat Comment
Wheat prices closed higher as prices continue
to find support in outside markets and recent wet weather across major growing
regions. The condition report released after the close of the market failed to
show a significant decline in the good to excellent rating on wheat which could
be bearish for prices later this week. For now wheat now has support at $5 as
prices continue to surge to their highest level since April 20.
Grain
Sorghum
|
High
|
Low
|
|
Cash
Bids
|
383
|
383
|
|
New
Crop
|
350
|
340
|
|
|
Corn
|
High
|
Low
|
|
Cash
Bids
|
430
|
411
|
|
New
Crop
|
425
|
414
|
|
|
|
Futures:
|
|
|
CORN
|
|
|
High
|
Low
|
Last
|
Change
|
|
|
|
|
|
|
Jul
'16
|
427.50
|
419.25
|
426.00
|
+7.75
|
|
Sep
'16
|
429.50
|
420.25
|
428.00
|
+8.25
|
|
Dec
'16
|
429.75
|
421.00
|
429.00
|
+9.25
|
|
Mar
'17
|
435.00
|
426.00
|
434.75
|
+8.75
|
|
May
'17
|
437.50
|
429.00
|
437.50
|
+8.25
|
|
Jul
'17
|
440.50
|
432.00
|
440.50
|
+8.25
|
|
Sep
'17
|
419.25
|
414.50
|
417.00
|
+1.50
|
|
Dec
'17
|
419.50
|
415.00
|
418.00
|
+1.00
|
|
Mar
'18
|
425.00
|
424.75
|
425.00
|
+1.50
|
|
|
Corn Comment
Corn prices continued their rally today as
prices surged to new highs with new crop corn up another dime. The market co
tune us to surge despite being technically overbought due to recent strength in
demand and strong gains in other markets particularly soybeans. While some long
term forecast point toward drier weather this summer the USDA current estimate
is that 73% of the crop is in good to excellent condition. This is near last
year and ahead of the 5-year average. While this is bearish for prices, corn
shown little slowing of gains recently as it continues to offer producers a
more profitable level than was expected earlier this season.
Cotton
|
Futures:
|
|
|
COTTON
|
|
|
High
|
Low
|
Last
|
Change
|
|
|
|
|
|
|
Jul
'16
|
65.90
|
63.81
|
65.55
|
+1.63
|
|
Oct
'16
|
66.48
|
64.11
|
66.26
|
+1.95
|
|
Dec
'16
|
65.75
|
63.81
|
65.54
|
+1.63
|
|
|
Cotton Comment
Cotton futures posted gains again today. Heavy
rains in Texas have resulted in the need for replants and further delayed the
crop, which was already 10% behind the 5 year average for this week. Exports
for the week came in at the top end of expectations at 124,900 running bales. A
weaker dollar was also supportive. The market continues to have resistance at
recent highs, 64.75 cents for July, and 64 cents for December.
Rice
|
High
|
Low
|
|
Long
Grain Cash Bids
|
|
|
|
Long Grain
New Crop
|
|
|
|
|
|
Futures:
|
|
|
ROUGH
RICE
|
|
|
High
|
Low
|
Last
|
Change
|
|
|
|
|
|
|
Jul
'16
|
1172.0
|
1124.0
|
1170.0
|
+33.0
|
|
Sep
'16
|
1198.5
|
1157.0
|
1192.0
|
+29.0
|
|
Nov
'16
|
1220.0
|
1190.5
|
1210.0
|
+22.0
|
|
Jan
'17
|
|
|
1206.5
|
-1.5
|
|
Mar
'17
|
|
|
1224.0
|
-2.0
|
|
May
'17
|
|
|
1241.0
|
-1.0
|
|
Jul
'17
|
|
|
1241.0
|
-1.0
|
|
|
Rice Comment
Rice futures were posting gains today. July
bounced off support at $10.76 last week, which has provided support for the
market for about 5 weeks. This large crop could limit the upside potential of
the market, however, dry conditions in other rice growing regions of the world
could provide support. The market needs to see better export movement, though.
Weekly export sales of 65,100 tons were down from 78,600 tons last week.
Cattle
|
Futures:
|
|
|
Live Cattle:
|
|
|
LIVE
CATTLE
|
|
|
High
|
Low
|
Last
|
Change
|
|
|
|
|
|
|
Jun
'16
|
123.750
|
119.250
|
120.950
|
-1.050
|
|
Aug
'16
|
119.425
|
115.150
|
116.675
|
-1.125
|
|
Oct
'16
|
118.750
|
114.425
|
116.125
|
-1.225
|
|
Dec
'16
|
118.775
|
115.200
|
116.650
|
-0.950
|
|
Feb
'17
|
118.125
|
114.900
|
116.150
|
-0.875
|
|
Apr
'17
|
117.325
|
114.175
|
115.825
|
-0.475
|
|
Jun
'17
|
109.850
|
107.325
|
108.700
|
-0.925
|
|
Aug
'17
|
108.000
|
106.025
|
107.275
|
-0.400
|
|
|
|
Feeders:
|
|
|
FEEDER
CATTLE
|
|
|
High
|
Low
|
Last
|
Change
|
|
|
|
|
|
|
Aug
'16
|
148.525
|
143.025
|
145.100
|
-1.575
|
|
Sep
'16
|
146.750
|
141.275
|
143.250
|
-1.925
|
|
Oct
'16
|
145.250
|
140.000
|
142.150
|
-1.600
|
|
Nov
'16
|
141.600
|
137.000
|
138.625
|
-1.800
|
|
Jan
'17
|
137.025
|
132.700
|
134.600
|
-1.300
|
|
Mar
'17
|
134.150
|
131.900
|
131.900
|
-1.650
|
|
Apr
'17
|
133.000
|
132.900
|
132.975
|
-0.450
|
|
May
'17
|
|
|
132.900
|
-0.450
|
|
|
Cattle Comment
Cattle price saw sharp losses today as the
market continues to have difficulty maintaining gains in the face of strong
grain prices. While cash prices remain at a significant premium to futures,
weak beef prices and strengthening feed prices remain a negative for cattle prices.
Hogs
|
Futures:
|
|
|
LEAN
HOGS
|
|
|
High
|
Low
|
Last
|
Change
|
|
|
|
|
|
|
Jun
'16
|
82.950
|
82.150
|
82.400
|
+0.100
|
|
Jul
'16
|
87.400
|
85.725
|
86.900
|
+0.925
|
|
Aug
'16
|
87.225
|
85.875
|
86.400
|
+0.525
|
|
Oct
'16
|
71.000
|
70.550
|
70.925
|
+0.350
|
|
Dec
'16
|
65.250
|
64.950
|
65.225
|
+0.175
|
|
Feb
'17
|
68.250
|
68.050
|
68.200
|
+0.075
|
|
Apr
'17
|
71.125
|
70.950
|
70.975
|
-0.025
|
|
May
'17
|
|
|
75.825
|
+0.225
|
|
Jun
'17
|
78.600
|
78.550
|
78.600
|
0.000
|
|
|
Hog Comment
Tin Can port handled N4m rice in nine months
June 6, 2016
The volume of imported rice coming in through
one of the nation’s seaports has drastically declined due to dollar scarcity,
with government revenue in form of duty falling sharply in the process, IFE
ADEDAPO writes
The importation of rice, a major staple in
Nigeria, has declined in volume due to the scarcity of foreign exchange
occasioned by falling oil prices globally.Statistics obtained from the Tin Can
Island Port in Lagos indicated that in the past nine months, the country
imported 13.4 metric tonnes of the product.There are 1,000 kilogrammes in a
metric tonne, while there are 20 bags of 50kg each in a metric tonne. On the
average, each bag of rice costs N15,000. Therefore, each metric tonne of rice
has a market value of N300,000.Therefore, 13.4 metric tonnes of rice have a
market value of N4.02m at N300,000 per metric tonne.
This quantity of rice in its various forms only
fetched the country N336,337 in tax payment from September 2015 to May 2016.In
September 2015, the volume of rice imports was five metric tonnes; it declined
to one metric tonne in October and peaked at five metric tonnes in November of
the same year.In December, when rice import was expected to be high due to the
festivities, only one metric tonne was imported through the Tin Can port. The
volume further dipped to 0.5MT in February 2016, but rose slightly to 0.8MT in
March, while 0.1MT was recorded for May 2016.There was no importation of the
commodity through the port in January and April 2016.
The value of rice imports through the seaports
has been on a steady decline since the first quarter of 2015.According to the
foreign trade report released by the National Bureau of Statistics, semi-milled
or wholly milled rice secured the fourth position of all imported commodities
in the fourth quarter of 2014 based on its worth of N49.34bn.However, in the
first three months of 2015, rice occupied the third position in the list of
imported products with a value of N33.44bn, and dropped to the fifth position
with a value of N25.38bn in the second quarter of the year.The value of rice
imports between July and September 2015 declined by 61.8 per cent to N9.69bn,
occupying the 15th position, the lowest for all the commodities imported
through the seaports in the third quarter of last year.By the fourth quarter of
the same year, rice had completely fallen out from the list of high value
imported commodities into Nigeria.Rice was among the 41 items that the Central
Bank of Nigeria excluded from official foreign exchange window in August 2015,
leading to difficulties in accessing foreign exchange by importers and high
cost of importation when forex is sourced from the black market at over N300 to
a dollar.
Investigation showed that the price of the
commodity had doubled between September 2015 and May 2016 from N7,500 per 50kg
bag to an average of N15,000.When our correspondent visited Daleko, a major
rice market in Lagos State, the traders explained that most of the rice being
offered for sale were brought in from Cotonou, Benin Republic due to the ease
of importation and payment of duty.A trader in the market, Alhaja Tawa Kasali,
said the price of the commodity brought in from Cotonou was N5,000 per bag but
the duty rate and high cost of transportation had made it expensive, adding
that those who smuggled the product only risked their investments and lives.She
said the price would have been more competitive if locally grown and milled
varieties of the produce were available for sale at lower prices.However, due
to the reduced rice imports, millers in the country are enjoying huge patronage
due to rising demand.
The Personnel Manager, Umza International
Limited, a rice mill, Mr. Ali Aliyu, admitted that business was booming and the
company has had to turn down orders due to its inability to meet traders’
request.He said, “It gets to a point that we had to call some people that we
wouldn’t be able to get them the quantity of rice they wanted. The demand is
much more than expected but at the same time, we are not very happy for not
being able to fulfil our customers’ demand.“But there is nothing we can do. We
cannot force our machines to work beyond their capacities.”According to him,
the changing trend of the business as well as the high cost of input has made
it necessary to increase the price of the locally milled produce.Presently, he
explained that the major factors contributing to the increase in price were
poor electricity supply and high cost of paddy, a major raw material for the
millers.
Aliyu explained, “We are presently selling for
N10,700 per bag instead of the N9,000 we were selling a couple of days ago. A
lot of factors contributed to the price increase. Sometimes we will stay for
two or three days without having electricity.“And that means buying more diesel
and the price of diesel is not as low as we expect. It sells for N150 per litre
and the minimum price is N135; but before now, we were getting electricity for
about 10 hours a day. The cost of production has doubled and the paddy rice is
very difficult to get.”He added, “The farmers producing paddy rice are not
producing much and there are so many people demanding for it now more than
before. Due to the Federal Government’s forex policy, a lot of people will
prefer to buy paddy, process and sell.“The price of the paddy has skyrocketed.
It is now N8,000 per bag compared with N4,000 that we used to buy before.
Therefore, we have to increase our price.
”As a form of intervention in the rice value
chain, the knowledge management and communications specialist, GEMS4, a project
of the United Kingdom’s Department for International Development, Ms. Enene
Ejembi, explained that smallholder paddy farmers and large scale ones in Kano
State were educated on the quality standards of paddy and supported to supply
paddy in sufficient quantity to commercial millers.So far, she said the
intervention, which began in 2015, had mobilised 1,199 rice farmers, and earned
about £1,195,245 for them.“Activities to develop the rice value chain began
with the mobilisation of farmers and aggregators through community engagement,
rice fairs, communication campaigns and farm demonstrations by the Brent
Group,” Ejembi added.
http://punchng.com/tin-can-port-handled-n4m-rice-nine-months/
