Matco Foods to belisted in September
KARACHI: Matco Foods, Pakistan’s
largest rice exporter, is going for listing in the stock market in September
this year to raise funds for its new plant in Karachi.
Faizan Ali Ghori, director, Matco
Foods, in an interview with The News said that funds to be received through
Initial Public Offering (IPO) of Matco Foods in September would be invested on
a new plant in Karachi.
Matco Foods has major stakes in
Basmati rice. Being the largest Basmati exporter of Pakistan, it exports to
around 65 countries. “Our brand ‘Falak’ is the largest selling Basmati brand
from Pakistan,” he said. Matco processes around 100,000 tons of Basmati per
year. It has also been financed by World Bank’s institute IFC.
Ghori, who is also a member
executive council of Rice Exporters Association of Pakistan (REAP), said Matco
was also going in the business of other foods, as seller of imported biscuits,
wafers, rice flour, gram flour, oil, pink salt, etc, since Pakistan has one of
the highest consumption to GDP ratio in the world.
He said the company was investing
in the new business of organic rice glucose and organic rice protein products,
which would be used by other companies, mostly in their baby products.
“Majority of glucose is extracted from corn, but in Europe and the US, corn
syrup is being replaced with rice,” he said. “Since rice is not genetically
modified, it is least likely to cause allergy.”
Matco’s plant would have capacity
of 10,000 tons per year of rice glucose and rice protein, and the plant would
start operations this month at a preliminary investment of Rs350 million.
Another plant of this type would be
established at Port Qasim in the next phase, where a land of 10 acre has been
purchased and further funds would be generated from the IPO. “In the next
phase, we will develop dextrin (powdered) glucose,” Ghori said.
Talking on Federal Budget 2017-18,
he said overseas financing for warehousing would be beneficial for non-Basmati
exporters, especially those who export to African countries, where Pakistan’s
IRRI rice was mostly consumed as staple food. “People can establish their
warehouses there and get financed,” he said. “We will have advantage in Kenya
market with it.”
This was a proposal of REAP, which
was incorporated in the budget. Besides African countries, China is also a big
market for IRRI. “Last year, Pakistan exported 0.5 million tons to China but
this year it (China) is importing from Vietnam and other countries,” he said.
Matco processes Basmati in all four
types; unrefined brown rice, refined Basmati, parboil (sela) and steamed
Basmati. “We are using latest technology and have imported machines from Japan
and Germany,” Ghori said.
He said alarmingly seed development
was not here, so yield was too low. Hybrid seeds provided 90 to 100 maunds per
acre in the world while our production was at a maximum level of 60 maunds. “No
new variety of Basmati was developed after late 80s,” he said. “A famous
Basmati variety 1,121 was developed in India and smuggled in Pakistan.”
Matco exports around 80 percent of
its production and sells 20 percent in the local market. However, it is
planning 50 percent sales in the local market in the coming 5-6 years, as
“People here are saving their time of rice cleaning and more people are going towards
processed and cleaned rice,” he said.
He suggested that Pakistan should
focus on seed development, as plant scientists in India were doing, but
regretted that the Rice Research Institute was not developing any seeds on
commercial level. “Our yields are lowest per acre,” he said. “Mechanical
transplantation should be here.”
He said REAP has been suggesting
the government to allow it to use Export Development Fund to use on farmers’
education and research.
Matco is growing organic rice in
Punjab while lands in Golarchi, Sindh is under conversion, as it takes three
years to land for the conversion for organic plantation. “We have received USDA
and EU organic certification,” he said. “Last year Matco exported 300 tons of
organic rice.
https://www.thenews.com.pk/print/207825-Matco-Foods-to-belisted-in-September
Bangladesh firm inks deal for PH-developed rice hybrid
Carolyn
Bonquin, ABS-CBN News
Philippine-based rice research
company SL Agritech Corp. on Wednesday signed a collaboration agreement with
Bangladesh firm EnP Solutions Ltd. for the seed production of SL-18H variety of
hybrid rice.
SL-18H is a high-yielding rice
hybrid which could withstand both dry and wet climate.
Under the agreement, SL Agritech
will sell 20 to 50 tons of SL-18H hybrid rice seedlings to EnP Solutions
annually. This will cover 5 to 10 hectares of rice fields.
"We are going to start around
5 to 10 hectares, but definitely after three years, this will go up to 200 (or)
300 tons per hectares," said Henry Lim, president of SL Agritech Corp.
With 163-million population and
decreasing scope of arable land, the rice hybrid is expected to increase
Bangladesh's rice production.
"Every year, we are losing our
arable land to the demographic pressure in terms of navigation, schooling,
housing, infrastructure. So, for Bangladesh, we don't have alternative other
than hybrid production," said Syed Mahmudul Hug, president of EnP
Solutions.
"We are almost self-sufficient
in food. But, Bangladesh, just like Philippines is subject to natural
calamities and when we have drought or floods then we lose our standing crop
and we go for imports," Hug added.
Bangladesh Ambassador Asad Alam
Siam said the technology transfer is a good partnership between the two
countries in ensuring food security.
"It's a completely win-win
suggestion. It's a symbiotic relationship of two countries," said
Ambassador Siam.
"We are a small country with big population. Our farming land is shrinking while population is increasing."
"We are a small country with big population. Our farming land is shrinking while population is increasing."
Aside from Bangladesh, SL Agritech
has been conducting tests of hybrid rice in Papua New Guinea, Myanmar,
Indonesia, Somalia, and India.
"While other countries are
benefiting from the technology that we are doing, hopefully with this
administration, we can further the propagation of rice hybrid (in the
Philippines)," said Lim.
The Department of Agriculture has
earlier announce its target to have 1-million hectare of land dedicated for
hybrid rice to attain rice self-sufficiency.
Once the Philippines attains this,
Lim believes the country would also be able to export rice.
Piñol distances self from rice importation row
Rose Carmelle
Lacuata, ABS-CBN News
In an interview on DZMM Teleradyo, Piñol said he only answered
questions from reporters after President Rodrigo Duterte failed to name the
official he sacked for overruling NFA Administrator Jason Aquino's decision to
suspend rice importation as it is still harvest season in the
Philippines.
He also said that Duterte told him about firing Valdez beforehand,
but this does not mean that he has a hand in what happened.
"The decision to fire or not to fire is with the
President," Piñol said.
Piñol, likewise, denied that he is conniving with Aquino to create
an "artificial shortage" to justify rice importation.
"Ayoko nga mag-import tapos magke-create ako ng artificial
shortage? Eh sinasabi ko nga na may surplus, na masagana 'yung ani kaya 'wag na
muna mag-import. Wala akong kinalaman sa pagkatanggal sa kanya," he said.
According to Piñol, he is not quarreling with any other Cabinet officials.
"No, I have the highest respect for Jun Evasco. The
differences in our position does not mean that I am quarreling with anybody.
Hindi ako nakikipag-away. I don't see any reason why I should be quarreling
with anybody. Hindi ko style ang mag-away ng tao," he said.
"'Yung aking posisyon, posisyon ng magsasaka. People should
understand that," Piñol added.
Piñol earlier said he is against any form of rice importation, whether government to government or
importation through the private sector.
"The Department of Agriculture and Fisheries has publicly
declared that it is against the immediate lifting of the Quantitative
Restriction (QR) on imported rice on the ground that the Filipino rice farmers
are not yet ready to compete with their counterparts in the region because of
low productivity and high production cost," he wrote.
Duterte on Thursday ordered a temporary halt in rice importation from Vietnam as local farmers
posted a high yield of the staple this harvest season.
At a harvest festival in Nueva Ecija on Wednesday, Duterte fired Undersecretary Maia Chiara Halmen Reina Valdez for defying NFA Administrator Jason
Aquino's decision to suspend rice importation given the local harvest season.
Valdez, on the other hand, alleged that the President may have
received false information about her, saying this also maligned her “tatay (father) in the
government," Cabinet Secretary Leoncio Evasco Jr.
MANILA - A public advocacy organization is calling on the Duterte
administration to rethink its rice importation policy, describing it as
"dangerous."
In a statement, the Foundation for Economic Freedom said stopping
all rice importation may lead to shortages and increased rice prices.
"We believe that neither policy allowing the National Food
Authority to solely import rice, nor stopping all rice imports, is good for the
Filipino consumer or the Filipino rice farmer."
"Stopping all rice importation as Agriculture Secretary
(Manny) Piñol wants is a dangerous policy that could lead to significant
shortages and increased rice prices. The country has never been and is not
self-sufficient in rice production. Stopping rice imports even during rice
harvest season will put upward pressure on rice prices and will lead to
significant hikes in rice prices and worsening of hunger and poverty," the
group added.
It also said allowing only the National Food Authority (NFA) to
import rice is a "wrong policy" since the government is "a poor
judge of the timing of rice imports."
"Typhoons can hit the country at any time and destroy rice
crops. Neither is the government equipped to respond quickly to a rice shortage
given the bureaucratic procedures in government. A delay in importing rice will
lead to significant spikes in rice prices and make rice more unaffordable to
the poor," the group said.
The group, likewise, called on the Duterte administration to
remove the NFA monopoly on rice importation and liberalize rice trade.
"We support the tariffication of rice imports and using the
tariff revenues to help our rice farmers either to shift production to
higher-value crops or to increase productivity," the group said.
"We believe that rice import liberalization will lead to
lower rice prices, lower consumer inflation, and higher disposable income for
the working class. It will make our manufacturing more competitive since rice,
which is the single biggest source of calories for our workers, will become
more affordable."
President Rodrigo Duterte on Thursday has ordered a temporary halt in rice importation from Vietnam as local farmers posted a high
yield of the staple grain this harvest season.
He also ordered the NFA to purchase rice from local farmers to
boost stockpiles, saying that importing at the moment was not a good move.
Duterte issued the directive just hours after the NFA said it
needed to buy 490,800 tons of rice to boost its stockpiles that have fallen
below the required level ahead of the July-September lean harvest season.
Congressman
Clay Higgins Tours Louisiana Rice Country
CROWLEY, LA --
Yesterday, USA Rice staff from Louisiana organized a tour of the Louisiana
rice industry for Congressman Clay Higgins. Higgins was accompanied by
in-state and Washington, DC staff because he felt it was important for him
and his staff to learn first-hand about Louisiana rice. In his
introductory comments, Higgins said, "I'm interested in serving
Louisiana and what I don't know, I'm willing to learn."
The day began at the Louisiana State University H. Rousse Caffey Rice Research Station with Dr. Steve Linscombe providing an overview of the history of rice production in Louisiana and a discussion about today's rice industry. Dr. Linscombe emphasized the importance of the breeding projects conducted at the station to create new rice varieties and the advancements made to improve yield. Kevin Berken, a rice farmer from Thornwell, emphasized that "we have doubled yields over the last 40 years and we will have to double yields again in the next 40 years to feed the people." Congressman Higgins also visited Zaunbrecher Farms in Rayne, where a group of local farmers gathered to welcome him. Fred Zaunbrecher introduced Higgins and asked him to share his views on several issues, including the North American Free Trade Agreement (NAFTA). Higgins said, "Our approach to NAFTA right now is to be surgical. Whatever is working to benefit American business and industry, we want to leave alone, and whatever is hurting American business and industry, we want to fix it." Zaunbrecher also spoke about the crawfish-rice double cropping system and the challenges that some south Louisiana farms are having with white spot disease. Higgins was eager to accept Fred's invitation to ride in a crawfish boat and harvest crawfish, and thanked the group gathered there for welcoming him to the farm. Zaunbrecher replied, "The more you understand us, the better we can communicate and the more work we can do together."
Higgins and his staff also toured Supreme Rice
Mill. CEO Bobby Hanks thanked Higgins for the role he and his office played
in the recent Iraqi purchase of U.S. rice. Higgins said he "wrote
a very passionate letter to the Secretary of State and worked through key
Congressional committees" to express his concerns and "was pleased
to hear about the announcement of the recent purchase of U.S. rice, much of
that originating out of Louisiana." Higgins called the purchase a
"great first step" in fulfilling the agreements on rice set in the
Memorandum of Understanding between the governments of the United States and
Iraq.
The day finished with a crawfish boil at Christian Richard's farm. Almost 50 people attended and had an opportunity to interact with the Congressman. Higgins ended the tour by saying, "What's good for our district is good for Louisiana, what's good for Louisiana is good for America, and what's good for America is good for the rest of the world." |
Crawford
Keeps Cuba Conversations on Course
WASHINGTON, DC -- Arkansas Congressman Rick Crawford,
long a leader advocating for changing course on U.S.-Cuba policy has
previously introduced legislation to help normalize trade relations between
the countries. Despite his efforts, and the support of the U.S. rice industry,
earlier legislation has not advanced. Crawford is now pushing for a
compromise solution he struck with Congressman Carlos Curbelo (R-FL) that
will keep the discussion about Cuba moving forward.
The bill calls for the implementation of new fee on certain agriculture exports to Cuba that would amount to a 2 percent excise tax. Money collected would go to the U.S. Treasury Department and be used to pay claims of U.S. companies and citizens who say they lost property as a result of the Communist take-over of Cuba some 58 years ago. The recognition of aggrieved "certified claimants" and the proposed method of repaying them is considered a compromise to keep anti-Castro Members of Congress talking about trade normalization. "If that's what it takes to keep the issue moving forward in Congress, then that's what it takes, and we're with the Congressman," said Ben Mosely, USA Rice vice president of government affairs. "Paying two percent on some trade is better than paying nothing on no trade at all." Mosely said that despite advances toward normalization of trade between the U.S. and Cuba in recent years, it appeared the door was being slammed shut by hardliners in Congress and the new Administration. "Congressman Crawford has wedged his foot in the door to keep it open, and that's good news," he said. Prior to the U.S. embargo, Cuba was the number one export market for U.S. rice, however, no U.S. rice has been sold to Cuba since 2008. U.S. rice is quite popular on the Island due to superior taste, cooking qualities, and logistical advantages over other suppliers, and USA Rice has said they believe Cuba could once again become a top market as soon as the many export and financial restrictions that stand in the way are lifted. |
Sesame rice
Jun 01, 2017 05:08 AM CDT
Updated: Jun
01, 2017 05:08 AM CDT
This
rice accompaniment can be kept quite simple, or it can become more substantial
with the addition of other ingredients such as chopped scallion, minced green
or red bell peppers, or other vegetables such as cut asparagus. Sliced or
slivered almonds can replace the sesame seeds.
1 tablespoon canola oil
1 cup sliced mushrooms
1 teaspoon minced garlic
2 cups cooked rice (brown, white, basmati, or wild rice)
½ cup frozen baby peas
1 tablespoon toasted sesame seeds
1 tablespoon minced fresh flat-leaf parsley
1 tablespoon soy sauce
½ teaspoon dark (Asian) sesame oil
Dash of ground white pepper, or to taste
Heat
the canola oil in a large skillet over medium-high heat. Add the mushrooms and
garlic; cook, stirring occasionally, for about 3 minutes, or until tender. Stir
in the rice and remaining ingredients. Heat, stirring occasionally. Taste and
adjust the seasoning
http://www.channel3000.com/lifestyle/food/sesame-rice/524776995
Delta Farm Press
Rice: Nitrogen fertilization in
uncertain times
Before
you jump to conclusions on your field being too early or late to fertilize and
flood, put the DD50 data behind that decision.
After a big rain across most of
the Delta, another round on the way Thursday and Friday, here’s the first thing
you need to do if you haven’t already: run an up-to-date DD50 on your fields (http://DD50.uaex.edu). Before you jump to conclusions on your field being too
early or late to fertilize and flood, put the DD50 data behind that decision.
Now that we know where you stand
let’s talk options. Much of the rice out there was planted early and needs to
go to flood. However, you should wait until the date of ‘Final recommended time to apply preflood N if early N delayed’ found in the DD50 printout before you do anything drastic. Once
you reach this date though, it’s time to make a move.
Repeating: if you have yet to reach this date, DO NOT make unnecessary or
inefficient N applications, you still have time.
Now for those with fields that
are out of time. If you have passed the Final Recommended Time, let’s talk. Have a flooded
field right now from the rain? Roll up the gates and hold the water. Start spoonfeeding 100 lbs urea every 7 days – no more than 5
total applications – but evaluate closely after the 4th app to see if the 5th
is even needed.
Do you think you can get dried up
before the rain forecast on Thursday and Friday? Then you’ll want to go through
the more usual scenarios below.
As a general reminder, here are
the preferred management guidelines for preflood N:
In order of preference, based on
yield response and N efficiency, here are options for applying preflood N based
on field situations:
1. Field is dry: Apply NBPT-treated urea onto dry soil and establish the
permanent flood in a timely manner to incorporate N below the soil surface. If
you have any time to spare, it is always best to apply preflood N onto dry soil
– applications onto muddy soil or into standing water are far less favorable
and much less efficient methods of N fertilization.
2. Field is muddy: Apply NBPT-treated urea onto muddy soil and attempt to let the
soil dry if you have time. If a significant rainfall event occurs (~0.5 in or
more) to re-wet the field then begin flooding; otherwise let the soil dry
before establishing the flood. If you’re applying N to mud we do not know
exactly how much N will be lost, but increasing the N rate by ~ 20 lbs N would
be wise to offset losses. This increase may or may not provide much benefit
depending on your exact soil and weather conditions, but it’s less likely to
hurt in this case. Watch the crop closely and apply extra N if a deficiency
occurs.
3. Field has standing water: Get the water off the field if at all possible (if time allows).
If you do not have time to get the water off and let the soil dry, then hold
the water and “spoon-feed” N into the flood in small quantities every 5-7 days
for 4-5 weeks is the best option – lean toward every 7 days. A small quantity
means 45 lbs N per acre (100 lbs urea per acre). If you have a short time to
internode elongation, maybe applying N for 3 weeks at 45, 60, and 60 lbs N per
acre will be better but still apply a midseason shot of 45 lbs N per acre in
addition. Do not, for any reason, apply the entire recommended preflood N rate
in one application into standing water.
Preferred “worst-case”
management: As rice reaches the end of the N
application window according to the DD50 program, apply N treated with NBPT to
muddy/wet soil and attempt to let the soil dry out underneath the applied N –
if a significant rainfall occurs, start flooding. Realize that some N is lost
in this case and be prepared to monitor the crop closely and apply additional N
later if the rice looks like it needs it.
Fields unable to hold a flood
(levees and gates unfinished or damaged): Apply a small amount of N and wait for the soil to dry or
receive upcoming rainfall. If heavy rain is expected and movement is a concern,
ammonium sulfate should be used for this application; otherwise, apply urea. If
conditions are still not dry enough to flood the field in a week, subsequent N
applications will be needed in the same manner until a flood can be
established. At the point the flood can be established, apply any remaining N
requirements to the dry soil and flood.
When preflood N is applied onto
dry soil to rice at the 4- to 5-leaf stage and a flood is applied timely,
plants take up at least 60% of the total N applied over the course of 3 weeks
(10% week 1, 20% week 2, 30% week 3). In general the period from the optimum
time to apply preflood N until internode elongation (IE) is about 3 weeks, but
from the final recommended application time to IE is about 2 weeks. However,
these timings are based on plant development when rice has received timely N
fertilization and flooding – delaying these causes rice to develop more slowly.
Keep in mind that we can only make up a small amount of yield with N applied at
midseason.
Previous research has shown that
N applied onto dry soil has the most yield benefit. Applying urea onto muddy
soil can result in a 20% yield loss. However, applying ammonium sulfate or urea
+ NBPT onto muddy soil and letting the soil dry can reduce the yield loss to
only 10%. In this research, N was applied just prior to permanent flood at the
4- to 5-leaf stage.
Past the 4- to 5-leaf stage, potential yield losses could become
more dramatic. However, many factors influence how much flexibility we have in
our N fertilization timing, including cultivar, length of maturity, native soil
N, soil type, etc. If native soil N is high, then the effect is reduced. If it
is a longer season cultivar then there is a greater window before midseason. In
any case don’t let it get too late before applying N. Use of the DD50 Rice
Management Program can help to time management decisions in these situations (http://DD50.uaex.edu).
Don’t tax branded rice under GST,
cut taxes on procurement: Vijay Setia, president, AIREA
Vijay Setia,
president, All Indian Rice Exporters Association (AIREA), spoke on critical
issues currently impacting the exporters and millers.
India’s basmati rice exports have seen fluctuations in fortune
in the last couple of years because of factors such as slowing down in shipment
to Iran, the country’s biggest export destination for aromatic long-grained
rice, and delay in settlement in payments from importers. Vijay Setia,
president, All Indian Rice Exporters Association (AIREA), spoke to FE’s Sandip
Das on critical issues currently impacting the exporters and millers. Edited
excerpts:
What are the key issues rice
exporters and millers would be facing post GST scenario?
Although the GST council has recommended 5% taxes on branded rice while exempting the cereals from taxes, we feel that it would make rice sold to economically weaker section costlier. In the current scenario, the processor has to put several information such as name of the company, date of packing etc. as per requirement of weights and measures department and Food Safety and Standards Authority of India on the rice pack.
Although the GST council has recommended 5% taxes on branded rice while exempting the cereals from taxes, we feel that it would make rice sold to economically weaker section costlier. In the current scenario, the processor has to put several information such as name of the company, date of packing etc. as per requirement of weights and measures department and Food Safety and Standards Authority of India on the rice pack.
This would make the rice pack as ‘branded’ thus inviting taxes.
The next GST council meeting must address the issue as the government has
already promised zero tax on rice under GST regime. States with high local
taxes such as mandi fees, arthia (commission agents) commission – 2%, rural
development cess (2%) etc. on grain trade mostly prevalent in Punjab, Haryana
and others. It should be reduced drastically in the post GST roll out. Because
of higher taxation, processors or millers are not willing to set up units in
these key producing states.
You have been pitching for stopping
prevalent practice of documents against acceptance (DA) in non-basmati rice
exports while in case of basmati rice shipment, DA has been stopped by the
commerce ministry. What are the measures AIREA proposes for exporters to follow
so that there are no delays in settlement of payment for rice exported?
Because of the prevalence of DA, mostly resorted by small sized basmati rice exporters had become a buyers’ market. Often, consignments are not lifted from the port by importers, and thus, the price has to be renegotiated leading to lower realisation. In a fiercely competitive basmati rice exports trade, small players in order to increase the volume of shipment often send rice consignment to importers who use this unsecure credit to their advantage.
Because of the prevalence of DA, mostly resorted by small sized basmati rice exporters had become a buyers’ market. Often, consignments are not lifted from the port by importers, and thus, the price has to be renegotiated leading to lower realisation. In a fiercely competitive basmati rice exports trade, small players in order to increase the volume of shipment often send rice consignment to importers who use this unsecure credit to their advantage.
We feel that because of the practice of DA, the country’s
basmati rice shipment has seen a 29% fall to Rs 22,714 crore in FY16, from a
record Rs 29,291 crore reported in FY14. However, the volume of basmati exports
has risen from 3.7 million tone (MT) to more than 4 MT in the same period. In
FY17, despite lower shipment to Iran, our exports declined to around 5% to Rs
21, 605 crore in comparison to previous fiscal. Thus we has urged government to
end the practice of DA in exports of non-basmati rice as well.
You might also want see this:
Basmati rice exporters are currently following two modes – cash
against document (invoices are delivered to the importer only against payment)
and letter of credit (importers instruct their bank to pay exporters as per the
specified conditions mentioned in the original documentary credit). These two
methods which are followed widely globally.
After a sharp fall in basmati
rice exports in the last couple of years, what is the prospects of aromatic
rice shipment in the current fiscal?
In the current fiscal, the realisation from basmati rice exports are set to increase compared to last few years. We have been looking at new market for shipment of basmati rice. Overall in the current fiscal the outlook for exports is quite bright.
In the current fiscal, the realisation from basmati rice exports are set to increase compared to last few years. We have been looking at new market for shipment of basmati rice. Overall in the current fiscal the outlook for exports is quite bright.
http://www.financialexpress.com/market/commodities/dont-tax-branded-rice-under-gst-cut-taxes-on-procurement-vijay-setia-president-airea/695450/
Experts predict rice industry to
improve in 2017
Thursday, June 1st 2017, 2:45 am PKTThursday, June 1st 2017, 4:56
am PKT
FENTON, LA (KPLC) -
Guidry said despite the
slight setback, market prices may increase after remaining stagnant for the
past few years.
"That's predominantly a
function of lower acreages in Louisiana and across the U.S., and because of
some struggles with weather we've been seeing in other rice producing states,"
said Guidry.
This price increase, according to
Guidry, ultimately depends on an increase in exports of long-grain milled rice.
"We are hopeful we will see
that improvement, but until that happens it's just hopefulness right now, and
in reality we haven't seen that happen yet," said Guidry.
Exports of long-grain rough rice
have gone up 3 percent from last year, exporting mainly to Mexico and many
South American countries, but milled rice is down 13 percent this year
because we predominantly export to Iraq and Iran, both of which have not been
purchasing much over the past several years.
All of these negative factors over
the years have been forcing rice producers to depend on government program
funding to survive, and this year is no different; however, Guidry
said they will most likely require a lot less.
"We're a long ways away from
the crop being harvested, so a lot of things can happen between now and
then," said Guidry.
According to the LSU AgCenter,
there are 432,168 planted acres of rice in the state with a total value of
$418,236,043
http://www.kplctv.com/story/35559776/experts-predict-rice-industry-to-improve-in-2017 Why we're not getting the best
out of rice: Discarded husks used as animal feed are highly nutritious and
could be a new superfood
Husks of rice normally used as animal feed are highly
nutritious, say experts
Rice bran - the outer covering of the rice grain - is a
rich source of proteins
Bioactive compounds suggests rice bran could be a new
'superfood'
PUBLISHED: 00:53
BST, 2 June 2017 | UPDATED: 00:56
BST, 2 June 2017
Husks of rice normally used as animal feed are highly
nutritious, experts have found.Rice bran - the outer covering of the rice grain
- is a rich source of proteins, fats, minerals and vitamins, according to a US
study.The research, in which scientists assessed the bioactive compounds in
this substance, suggests rice bran could be a new 'superfood'.
+2
Husks of rice normally used as animal feed
are highly nutritious, experts have found
Although some small companies are already selling rice
bran as an alternative to normal wheat or oats bran, producers say rice bran is
one of the most wasted resource in the world, with an estimated 60 million
tonnes thrown away each year.
In other cases it is removed from the rice grain during
processing and used as animal feed.
But it could be a useful health food, to be added to
cereals, baked in bread or cakes, or turned into a smoothie drink.
The study, by researchers at Colorado State University in
the US shows that rice bran is particularly high in the B vitamins - thiamine,
niacin and B6 - which play a vital role in energy production, cardiovascular
health and warding off depression.
Study author Professor Elizabeth Ryan, whose work is
published in the scientific journal Rice, said: 'A single serving of rice bran
- 28 grams - delivers more than half of a person's daily requirements of
important vitamins such as thiamine, niacin and vitamin B6.
'Traditionally, rice bran is thought to be a cheap fibre
source and only considered useful as a source of lipids, for example as cooking
oil.
'It has not been used much in human health and nutrition
because it is considered an animal feed, but its high nutritional value
warrants greater public health attention.'
The researchers used an approach called food metabolomics
- or 'Foodomics' - which uses a sophisticated biochemical technique, called
mass spectrometry, to identify and measure the abundance of many different molecules
present in a food.
2
Rice bran - the outer covering of the rice
grain - is a rich source of proteins, fats, minerals and vitamins, according to
a US study
Assessing three US rice varieties that were previously
used in human dietary intervention trials, the researchers found 453
metabolites, including 65 that had been shown to have potential medicinal and
health promoting attributes and 16 that had not been reported for rice bran
before.
Professor Ryan said: 'We investigated the amino acids,
vitamins, cofactors and secondary metabolites that can be found in rice bran,
as we suspected that they contribute to its medicinal and nutritional benefits.
'We were surprised to find that cofactors, vitamins and
amino acids make up almost 50 per cent of the total small molecule content.'
Separate research suggests the compounds the authors
identified in rice bran have anti-inflammatory, anti-microbial and
anti-hypertensive properties.
Professor Ryan said: 'Rice is an essential staple food
for more than half of the world's population. It is grown in more than 100
countries.
'Rice bran as a food ingredient could deliver more than
400 individual compounds when consumed and it is likely that many of them
function in a teamwork manner to deliver health benefits.'
She added: 'Although only limited information was
available on how well individual compounds will be usable by the human body
after ingestion, the biochemical composition of rice bran merits further
investigation for nutritional therapies and medical food applications.' http://www.dailymail.co.uk/sciencetech/article-4564664/Why-not-getting-best-rice.html
24,000kg rice shipped to Mauritius turns out to be
sand, two arrested in Ghaziabad
The entire conspiracy was
scripted by a driver based in Loni, Ghaziabad, who swapped the 120 rice bags
midway while transporting the consignment from Karnal to the inland container
depot (ICD) in Loni.
The truck driver and his
accomplice were arrested for cheating and criminal breach of trust.
A
rice importer in Mauritius got a shocker when export quality rice bags imported
from Karnal in Haryana were found to contain 24,000kg of sand. The entire
conspiracy was scripted by a driver based in Loni, Ghaziabad, who swapped the
120 rice bags midway while transporting the consignment from Karnal to the
inland container depot (ICD) in Loni.
According
to the police, a Karnal-based rice mill dispatched the consignment to ICD in
Loni on March 6. The truck reached the Loni depot around 5.30am on March 7. The
rice consignment was later dispatched through rail to a port in Gujarat from
where it was shipped to Mauritius on April 11.
“The
consignment was opened in Mauritius on April 12. The importer found that the
first two rows of bags contained rice while the remaining rows of bags were
filled with sand. The importer sent a communication to the rice mill in Karnal
and they sent us an objection along with a penalty of Rs 8 lakh. We traced the
swap after the rice mill informed us,” said Nitin Gupta, the transporter.
According
to the police, Gupta had hired the erring container truck and the driver from a
third party as his trucks were not available on March 6.
After
the goof-up, when Gupta checked the container depot records, he found that the
factory seal was different and the weight of the consignment unloaded at the
Loni depot was different from what was dispatched from Karnal. He also said
generally, the trucks reach inland container depot in Loni by 1am from Karnal,
but that particular truck reached the depot around 5.30am on March 7.
Suspecting
a fraud, Gupta lodged an FIR at the Loni police station for criminal breach of
trust and also for cheating against the truck driver.
On
Thursday, the Loni police arrested truck driver Firoz Ahmad and Majid, his
accomplice.
“They
told us that they had unloaded the consignment of rice at Mandola and received
a sum of Rs 56,000 in return. Truck driver Firoz received Rs 16,000. They both
were arrested. We are also on the lookout for the people who hatched the
conspiracy and usurped the export quality rice. More arrests will follow after
the accused are questioned in detail,” said Srikant Prajapati, circle officer
(Loni).
The
police said they have also received a different complaint earlier about a
similar goof-up and will further investigate that matter as well.
Governors Accuse
Jonathan’s Govt of Importing Substandard Rice during Electioneering
June 2, 2017
The Nigeria Governors Forum (NGF)
thursday expressed concern over the substandard rice imported into the country
during the administration of former President Goodluck Jonathan, lamenting that
the rice is sometimes harmful to the human system.They said huge consignment of
rice still finding its way into the market was imported into Nigeria since 2014
when the Jonathan administration issued a very liberal import licence regime to
its election financiers who were able to bring a substantial quantity of rice
into the country using a waiver from the presidency at the time.
The 36 governors spoke in a
statement issued by the Head, Media and Public Affairs of the NGF Abulrazaque
Bello- Barkindo, which called on the Nigeria Customs Service (NCS) to
expeditiously take measures to arrest the situation.
The governors claimed that while
some bulk of the consignment was stale, others were either rejected in other
countries or had overstayed in various warehouses before they found their way
into Nigeria through the activities of some unscrupulous elements.
While summoning the customs to shed
light on the matter, the governors expressed concern that Nigerians were either
falling sick or losing their lives to the consumption of these substandard
produce even though some states have commenced elaborate efforts to produce
rice in commercial quantity with a view to halting Nigeria’s over-reliance on
staples that can be produced locally.
The governor, according to the News
Agency of Nigeria (NAN) frowned at the situation where Nigerians snubbed
locally-produced commodity in preference for foreign ones which were most of
the time, stale, contaminated or even fake.
Meanwhile, in a brief to the
governors’ forum, the NCS Comptroller-General through the Deputy
Comptroller-General, Dangaladima Aminu, stated that although there is an
upsurge in the smuggling of rice through the nation’s land borders, there has
been no alteration to the prohibition on the importation of rice through
Nigeria’s land borders and that any quantity of rice which finds its way into
Nigeria through land routes was smuggled.
He noted that rice was usually
smuggled into the country through unauthorised border routes which span more
than 4,000km and that the smugglers were aided by border communities who
alternated between motorcycles, canoes and rafts to smuggle contraband rice into
the country.
Aminu added: “Your excellencies, it
may interest you to note that a motorcycle can make up to 30 trips with six
50kg bags of rice per night depending on the distance and when the border
communities are not smuggling the produce themselves, they are aiding or
providing cover for smugglers.”
He, however, added that rice
merchants had recorded huge losses as a result of seizures by the customs. He
disclosed that in 2014 customs seized 12,000 metric tons of the commodity,
4,503 tonnes in 2015 and 14,000metric tons in 2016.
Aminu informed the governors that
the customs “takes the issue of smuggling of rice seriously, having identified
the danger posed by it to the economic well-being and health hazards it
constitutes to the Nigerian people.”
https://www.thisdaylive.com/index.php/2017/06/02/governors-accuse-jonathans-govt-of-importing-substandard-rice-during-electioneering/
Asia
Rice-Importer demand pushes prices, Vietnam hits near 2.5-yr high
* Prices in Vietnam near 2.5-year
high
* Thailand jumps to highest level
in almost 1 year
By My Pham
HANOI, June 1 Strong demand from
top importing countries has led to a spurt in Asian rice prices, with the grain
being quoted at its highest in nearly two and a half years in Vietnam and
touching almost a year-high in Thailand, traders said on Thursday.
Vietnam's 5-percent broken rice
RI-VNBKN5-P1 was quoted at a level unseen since December 2014, at $390 a tonne,
FOB Saigon, up from $360-$380 last week, as suppliers looked forward to export
deals, traders said.
However, trade in Vietnam was
thin despite higher prices as traders and farmers hold on to stocks expecting a
further jump in prices.
"People expect prices to
rise to $400 and even more, so they don't want to sell now. Traders want to
wait and see," said a trader based in Ho Chi Minh City.
Bangladesh said it will buy
250,000-300,000 tonnes of Vietnamese rice immediately and plans to increase
rice imports from Vietnam to 500,000 tonnes by end-2017. It will also buy one
million tonnes of Vietnamese rice annually until 2022.
Meanwhile, the Philippines also
said it would issue a tender next month to import 250,000 tonnes of the grain
from Thailand and Vietnam, and possibly also India.
Likewise, prices also jumped in
Thailand and India, the world's first and second biggest rice exporters,
respectively.
Thai benchmark 5-percent broken
rice RI-THBKN5-P1 rose this week to $430 a tonne, free-on-board (FOB) Bangkok,
from $411-$412 last week, the highest level in almost a year.
Thai prices have risen sharply
since April, leading to a greater gap over prices in Vietnam, Thailand's main
competitor, but traders said they have not yet lost buyers.
"The upward price trend
continues normally as there is demand and purchases are made," a trader in
Bangkok said, adding that ships were still coming in to load the grain.
Traders also said the price hike
has started making the local grain too expensive for them to buy for export.
"Exporters have to be
careful, because local prices are higher now than when deals were made, making
us fulfill shipments at our own loss," another trader in Bangkok said,
adding that some traders had shied away from fresh deals.
Thai prices are expected to
stabilize in the next few weeks, traders said.
In India, the 5 percent broken
parboiled rice RI-INBKN5-P1 jumped $15 per tonne to $413 to $416 on improvement
in demand and following a rally in overseas prices.
"Export inquiries have risen
in the past few days. Indian rice has become competitive as prices are rising
in Thailand and Vietnam," said an exporter based in Kakinada in the
southern state of Andhra Pradesh.
In the last few months Indian
exports had slowed down due to an appreciating rupee and as local paddy prices
rose, eroding the competitiveness of exporters.
The rupee has risen nearly 5
percent so far in 2017 and is trading near its highest level in 21 months. A
strong rupee trims returns of exporters.
"At the current price level
we can sign export deals. African buyers have stared purchases," said
another exporter based in Kakinada. (Reporting by My Pham in HANOI, Patpicha
Tanakasempipat in BANGKOK, Rajendra Jadhav in MUMBAI; Editing by Sunil Nair)
Concerns over
rice stockpile release by Thailand
“When Thailand sells such a large part of its stockpile on the open market it will have a knock-on effect on prices and in turn also affect the price of Cambodian milled rice exports,” Hun Lak, vice president of the Cambodia Rice Federation, told Khmer Times.
Mr Lak said that Cambodia, unlike Thailand, lacked large warehouses to store rice paddy and release the grain when market prices were high.
“The longest time we can keep our stocks is three to four months and after that it gets spoilt,” he added.
Thailand is the world’s second-biggest rice exporter after India and still has stocks of about 5 million tonnes left over from a rice-buying scheme under the previous government that paid farmers well above market rates.
The current military government has been trying to sell off stockpiles from the scheme through several state auctions since it took power in 2014.
It has so far sold 12.74 million tonnes, worth 114 billion baht ($3.31 billion), the Thai Commerce Ministry said on Wednesday. It said it will be able to offload the remaining rice by the end of the year.
Bangladesh wants to buy around 250,000 to 300,000 tonnes of 5-percent white rice immediately for humanitarian relief efforts in the wake of Cyclone Mora that has inundated most of the country. It plans to increase rice imports to 500,000 tonnes by the end of the year and is looking at Thailand and Vietnam to meet its emergency needs.
Rice demand is similarly expected to go up in the humanitarian response in Sri Lanka, which is also reeling from the aftermath of Cyclone Mora that triggered floods and landslides.
Song Saran, CEO of Amru Rice (Cambodia), said Thailand could afford to sell its rice stockpile when prices were high because rice farmers were given subsidies by the government to cover their production costs.
“Production costs in Cambodia are high because we are growing good quality rice,” Mr Saran said.
Because of this, he said, Cambodia’s rice exports find it hard to compete in the commodities market.
But not all of Thailand’s 4.32 million tonnes of state rice stocks are of good quality. About 2.5 million tonnes are mostly low-quality and decaying rice fit only for industrial use.
Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, said Thailand’s good-quality rice stocks in the state stockpile are about to be depleted.
Because of this, Amru Rice’s Mr Saran is urging the Cambodia Rice Federation to find more markets for kingdom’s high quality jasmine rice exports.
“Since our production costs are high and we should consider finding other markets which Thailand does not reach so that we can maintain our rice quality and get premium prices for it,” he added.
Cambodia’s milled rice exports were close to 170,000 tonnes in the first three months of this year, an increase of three percent over the same period last year, official figures showed. The rise came after exports in March fell by 16 percent and exports in January and February rose 10 percent and 17 percent respectively.
China is the biggest single-country market for Cambodia’s milled rice, and imported about 67,000 tonnes in the three months. France and Poland ranked second and third in Cambodia’s milled rice markets, importing 21,000 and 12,000 tonnes respectively.
http://www.khmertimeskh.com/news/38983/concerns-over-rice-stockpile-release-by-thailand/
Osinbajo: Nigeria Will Be Self Sufficient in Rice by 2019
June
1, 2017
842
1
Adedayo Akinwale in Abuja
Acting President, Prof. Yemi Osinbajo has once again restated that
Nigeria would be self -sufficient in rice production by 2019.
The acting president made the statement yesterday in Abuja at the
launch and official handover ceremony of Computer Assisted Personal Interview
(CAPI) system developed through the Agricultural Market and Information System
(AMIS) project to the Ministry of Agriculture and Rural Development.
Osinbajo, who was represented by the Special Assistant to the
President, Economy Management, Mr. Dolapo Bright, said
that the federal government’s effort to revolutionise agriculture and diversify
the country’s economy was already paying off.
According to him, “the effort is now paying off in so many ways,
for example; the success with rice has been tremendous. It started with Kebbi ,
but when you look a rice now it has gone past Kebbi, you have Kano, Bauchi,
Jigawa, doing well. You have all the States in the north that are now involved
in rice. Apart from Ebonyi, even Bayelsa is also doing well in rice. Probably
by 2019 we should be self- sufficient in rice.”
Osinbajo however blamed the high cost of local production of rice
on infrastructural deficit, especially roads connecting the hinterland to the
city.
“When you look at the population of this country, the population is
large, apart from that logistics. For example, you have farmers planting rice
in Jigawa state and the rural roads that lead to the farm to get the products
to the processing plant is bad, so that is part of the reason why government is
putting a lot of money on infrastructure, then you are going to solve all these
problems,” he said.
Earlier, the representative of Food and Agricultural Organisation
of the United Nations (FAO), Mr. Patrick David, said the AMIS CAPI system which
cost $600,000 (N240 million) would provide an unparalleled access to
agriculture data to various stakeholders across the country and in turn, bring
remarkable growth to the agriculture sector.
He revealed that following the food crisis that caused
extraordinary increase in the prices of food to about 150% in 2008; AMIS was
established as an inter-agency Platform, to enhance food market transparency
and encourage coordination of policy action in response to market uncertainty at the request of Agriculture Ministers of the G20 in 2011.
David stated: “Today, we bring to fore, a system that will bring
about a paradigm shift in the way we collect and manage agriculture data in
Nigeria. The excess produce of a farmer in Kano, might be key to fulfilling the
scarcity of a factory in Kansas or Kentucky in the United States of America,
thousands of miles away.”
He stressed that through the use of data, businesses and certainly,
players in the agriculture sector, are able to connect with a broader range of
consumers and maximize profit, adding that the focus of AMIS was on four crops:
wheat, maize, rice and Soyabeans.
“Our globally connected world gives us the opportunity of a mutually
beneficial relationship. This relationship will further strengthen our capacity
to prevent food price volatility and bolster our resolve for global food
security,” David noted
Meanwhile, the Minister of Agriculture, Chief Audu Ogbe said the only way agricultural production could be
sustained was when the farmers can be able to reach out to various markets to
sell their products and make some returns to enable
them to invest
The minister who was represented by the Permanent Secretary, Bukar
Hassan stressed that the CAPI AMIS system offered a
unique opportunity to move away from traditional marketing system to a more
digital and sustainable methodhttps://www.thisdaylive.com/index.php/2017/06/01/osinbajo-nigeria-will-be-self-sufficient-in-rice-by-2019/
Asia Rice-Importer demand pushes prices, Vietnam hits near 2.5-yr high
6/1/2017
* Thailand jumps to highest level in almost 1 year
By My Pham
HANOI, June 1 (Reuters) - Strong demand from top importing
countries has led to a spurt in Asian rice prices, with the
grain being quoted at its highest in nearly two and a half years
in Vietnam and touching almost a year-high in Thailand, traders
said on Thursday.
Vietnam's 5-percent broken rice <RI-VNBKN5-P1> was quoted at
a level unseen since December 2014, at $390 a tonne, FOB Saigon,
up from $360-$380 last week, as suppliers looked forward to
export deals, traders said.
However, trade in Vietnam was thin despite higher prices as
traders and farmers hold on to stocks expecting a further jump
in prices.
"People expect prices to rise to $400 and even more, so they
don't want to sell now. Traders want to wait and see," said a
trader based in Ho Chi Minh City.
Bangladesh said it will buy 250,000-300,000 tonnes of
Vietnamese rice immediately and plans to increase rice imports
from Vietnam to 500,000 tonnes by end-2017. It will also buy one
million tonnes of Vietnamese rice annually until
2022.
Meanwhile, the Philippines also said it would issue a tender
next month to import 250,000 tonnes of the grain from Thailand
and Vietnam, and possibly also India.
Likewise, prices also jumped in Thailand and India, the
world's first and second biggest rice exporters, respectively.
Thai benchmark 5-percent broken rice <RI-THBKN5-P1> rose
this week to $430 a tonne, free-on-board (FOB) Bangkok, from
$411-$412 last week, the highest level in almost a year.
Thai prices have risen sharply since April, leading to a
greater gap over prices in Vietnam, Thailand's main competitor,
but traders said they have not yet lost buyers.
"The upward price trend continues normally as there is
demand and purchases are made," a trader in Bangkok said, adding
that ships were still coming in to load the grain.
Traders also said the price hike has started making the
local grain too expensive for them to buy for export.
"Exporters have to be careful, because local prices are
higher now than when deals were made, making us fulfill
shipments at our own loss," another trader in Bangkok said,
adding that some traders had shied away from fresh deals.
Thai prices are expected to stabilize in the next few weeks,
traders said.
In India, the 5 percent broken parboiled rice
<RI-INBKN5-P1> jumped $15 per tonne to $413 to $416 on
improvement in demand and following a rally in overseas prices.
"Export inquiries have risen in the past few days. Indian
rice has become competitive as prices are rising in Thailand and
Vietnam," said an exporter based in Kakinada in the southern
state of Andhra Pradesh.
In the last few months Indian exports had slowed down due to
an appreciating rupee and as local paddy prices rose, eroding
the competitiveness of exporters.
The rupee has risen nearly 5 percent so far in 2017 and is
trading near its highest level in 21 months. A strong rupee
trims returns of exporters.
"At the current price level we can sign export deals.
African buyers have stared purchases," said another exporter
based in Kakinada.
(Reporting by My Pham in HANOI, Patpicha Tanakasempipat in
BANGKOK, Rajendra Jadhav in MUMBAI; Editing by Sunil Nair)
Vietnam’s 5 pct
broken rice average hits $390/tonne, highest since Dec 2014
Vietnam's 5 percent broken rice average price hit $390 a tonne, its
highest level since December 2014, on Thursday on expected stronger demand from
foreign importers, traders said. The rise came after Bangladesh said it would
buy 250,000-300,000 tonnes of Vietnamese rice immediately and increase rice
imports from Vietnam to 500,000 tonnes by end-2017. The Philippines also said
it would issue a tender to import rice from key suppliers Thailand and Vietnam
and possibly India. (Reporting by My Pham; Editing by Nick Macfie)
Asia
Rice-Importer demand pushes prices, Vietnam hits near 2.5-yr high
Prices in Vietnam near 2.5-year high * Thailand jumps to highest
level in almost 1 year By My Pham HANOI, June 1 Strong demand from top
importing countries has led to a spurt in Asian rice prices, with the grain
being quoted at its highest in nearly two and a half years in Vietnam and
touching almost a year-high in Thailand, traders said on Thursday. Vietnam's
5-percent broken rice RI-VNBKN5-P1 was quoted at a level unseen since December
2014, at $390 a tonne, FOB Saigon, up from $360-$380 last week, as suppliers
looked forward to export deals, traders said.
However, trade in Vietnam was thin despite higher prices as traders
and farmers hold on to stocks expecting a further jump in prices. "People
expect prices to rise to $400 and even more, so they don't want to sell now.
Traders want to wait and see," said a trader based in Ho Chi Minh City.
Bangladesh said it will buy 250,000-300,000 tonnes of Vietnamese rice
immediately and plans to increase rice imports from Vietnam to 500,000 tonnes
by end-2017. It will also buy one million tonnes of Vietnamese rice annually
until 2022. Meanwhile, the Philippines also said it would issue a tender next
month to import 250,000 tonnes of the grain from Thailand and Vietnam, and
possibly also India. Likewise, prices also jumped in Thailand and India, the
world's first and second biggest rice exporters, respectively. Thai benchmark
5-percent broken rice RI-THBKN5-P1 rose this week to $430 a tonne,
free-on-board (FOB) Bangkok, from $411-$412 last week, the highest level in
almost a year. Thai prices have risen sharply since April, leading to a greater
gap over prices in Vietnam, Thailand's main competitor, but traders said they
have not yet lost buyers. "The upward price trend continues normally as
there is demand and purchases are made," a trader in Bangkok said, adding
that ships were still coming in to load the grain. Traders also said the price
hike has started making the local grain too expensive for them to buy for
export. "Exporters have to be careful, because local prices are higher now
than when deals were made, making us fulfill shipments at our own loss,"
another trader in Bangkok said, adding that some traders had shied away from
fresh deals. Thai prices are expected to stabilize in the next few weeks,
traders said. In India, the 5 percent broken parboiled rice RI-INBKN5-P1 jumped
$15 per tonne to $413 to $416 on improvement in demand and following a rally in
overseas prices. "Export inquiries have risen in the past few days. Indian
rice has become competitive as prices are rising in Thailand and Vietnam,"
said an exporter based in Kakinada in the southern state of Andhra Pradesh. In
the last few months Indian exports had slowed down due to an appreciating rupee
and as local paddy prices rose, eroding the competitiveness of exporters. The
rupee has risen nearly 5 percent so far in 2017 and is trading near its highest
level in 21 months. A strong rupee trims returns of exporters. "At the
current price level we can sign export deals. African buyers have stared
purchases," said another exporter based in Kakinada. (Reporting by My Pham
in HANOI, Patpicha Tanakasempipat in BANGKOK, Rajendra Jadhav in MUMBAI;
Editing by Sunil Nair)
http://in.reuters.com/article/asia-rice-idINL3N1IY24H
Don’t tax
branded rice under GST, cut taxes on procurement: Vijay Setia, president, AIREA
India’s basmati rice exports have seen fluctuations in fortune in
the last couple of years because of factors such as slowing down in shipment to
Iran. (Image: Reuters) India’s basmati rice exports have seen fluctuations in
fortune in the last couple of years because of factors such as slowing down in
shipment to Iran, the country’s biggest export destination for aromatic
long-grained rice, and delay in settlement in payments from importers. Vijay
Setia, president, All Indian Rice Exporters Association (AIREA), spoke to FE’s
Sandip Das on critical issues currently impacting the exporters and millers.
Edited excerpts: What are the key issues rice exporters and millers would be
facing post GST scenario?
Although the GST council has recommended 5% taxes on branded rice
while exempting the cereals from taxes, we feel that it would make rice sold to
economically weaker section costlier. In the current scenario, the processor
has to put several information such as name of the company, date of packing etc.
as per requirement of weights and measures department and Food Safety and
Standards Authority of India on the rice pack. This would make the rice pack as
‘branded’ thus inviting taxes.
The next GST council meeting must address the issue as the government
has already promised zero tax on rice under GST regime. States with high local
taxes such as mandi fees, arthia (commission agents) commission – 2%, rural
development cess (2%) etc. on grain trade mostly prevalent in Punjab, Haryana
and others. It should be reduced drastically in the post GST roll out. Because
of higher taxation, processors or millers are not willing to set up units in
these key producing states. You have been pitching for stopping prevalent
practice of documents against acceptance (DA) in non-basmati rice exports while
in case of basmati rice shipment,
DA has been stopped by the commerce ministry. What are the measures
AIREA proposes for exporters to follow so that there are no delays in
settlement of payment for rice exported? Because of the prevalence of DA,
mostly resorted by small sized basmati rice exporters had become a buyers’
market. Often, consignments are not lifted from the port by importers, and
thus, the price has to be renegotiated leading to lower realisation. In a
fiercely competitive basmati rice exports trade, small players in order to
increase the volume of shipment often send rice consignment to importers who
use this unsecure credit to their advantage. We feel that because of the
practice of DA, the country’s basmati rice shipment has seen a 29% fall to Rs
22,714 crore in FY16, from a record Rs 29,291 crore reported in FY14.
However, the volume of basmati exports has risen from 3.7 million
tone (MT) to more than 4 MT in the same period. In FY17, despite lower shipment
to Iran, our exports declined to around 5% to Rs 21, 605 crore in comparison to
previous fiscal. Thus we has urged government to end the practice of DA in
exports of non-basmati rice as well. Basmati rice exporters are currently
following two modes – cash against document (invoices are delivered to the
importer only against payment) and letter of credit (importers instruct their
bank to pay exporters as per the specified conditions mentioned in the original
documentary credit). These two methods which are followed widely globally.
After a sharp fall in
basmati rice exports in the last couple of years, what is the prospects of
aromatic rice shipment in the current fiscal? In the current fiscal, the
realisation from basmati rice exports are set to increase compared to last few
years. We have been looking at new market for shipment of basmati rice. Overall
in the current fiscal the outlook for exports is quite bright.
http://www.financialexpress.com/market/commodities/dont-tax-branded-rice-under-gst-cut-taxes-on-procurement-vijay-setia-president-airea/695450/
Vietnam’s 5 pct
broken rice average hits $390/tonne, highest since Dec 2014
Vietnam's 5 percent broken rice average price hit $390 a tonne, its
highest level since December 2014, on Thursday on expected stronger demand from
foreign importers, traders said. The rise came after Bangladesh said it would
buy 250,000-300,000 tonnes of Vietnamese rice immediately and increase rice
imports from Vietnam to 500,000 tonnes by end-2017. The Philippines also said
it would issue a tender to import rice from key suppliers Thailand and Vietnam
and possibly India. (Reporting by My Pham; Editing by Nick Macfie)
Asia
Rice-Importer demand pushes prices, Vietnam hits near 2.5-yr high
Prices in Vietnam near 2.5-year high * Thailand jumps to highest
level in almost 1 year By My Pham HANOI, June 1 Strong demand from top
importing countries has led to a spurt in Asian rice prices, with the grain
being quoted at its highest in nearly two and a half years in Vietnam and
touching almost a year-high in Thailand, traders said on Thursday. Vietnam's
5-percent broken rice RI-VNBKN5-P1 was quoted at a level unseen since December
2014, at $390 a tonne, FOB Saigon, up from $360-$380 last week, as suppliers
looked forward to export deals, traders said.
However, trade in Vietnam was thin despite higher prices as traders
and farmers hold on to stocks expecting a further jump in prices. "People
expect prices to rise to $400 and even more, so they don't want to sell now.
Traders want to wait and see," said a trader based in Ho Chi Minh City.
Bangladesh said it will buy 250,000-300,000 tonnes of Vietnamese rice
immediately and plans to increase rice imports from Vietnam to 500,000 tonnes
by end-2017. It will also buy one million tonnes of Vietnamese rice annually
until 2022. Meanwhile, the Philippines also said it would issue a tender next
month to import 250,000 tonnes of the grain from Thailand and Vietnam, and
possibly also India. Likewise, prices also jumped in Thailand and India, the
world's first and second biggest rice exporters, respectively. Thai benchmark
5-percent broken rice RI-THBKN5-P1 rose this week to $430 a tonne,
free-on-board (FOB) Bangkok, from $411-$412 last week, the highest level in
almost a year. Thai prices have risen sharply since April, leading to a greater
gap over prices in Vietnam, Thailand's main competitor, but traders said they
have not yet lost buyers. "The upward price trend continues normally as
there is demand and purchases are made," a trader in Bangkok said, adding
that ships were still coming in to load the grain. Traders also said the price
hike has started making the local grain too expensive for them to buy for
export. "Exporters have to be careful, because local prices are higher now
than when deals were made, making us fulfill shipments at our own loss,"
another trader in Bangkok said, adding that some traders had shied away from
fresh deals. Thai prices are expected to stabilize in the next few weeks,
traders said. In India, the 5 percent broken parboiled rice RI-INBKN5-P1 jumped
$15 per tonne to $413 to $416 on improvement in demand and following a rally in
overseas prices. "Export inquiries have risen in the past few days. Indian
rice has become competitive as prices are rising in Thailand and Vietnam,"
said an exporter based in Kakinada in the southern state of Andhra Pradesh. In
the last few months Indian exports had slowed down due to an appreciating rupee
and as local paddy prices rose, eroding the competitiveness of exporters. The
rupee has risen nearly 5 percent so far in 2017 and is trading near its highest
level in 21 months. A strong rupee trims returns of exporters. "At the
current price level we can sign export deals. African buyers have stared
purchases," said another exporter based in Kakinada. (Reporting by My Pham
in HANOI, Patpicha Tanakasempipat in BANGKOK, Rajendra Jadhav in MUMBAI;
Editing by Sunil Nair)
http://in.reuters.com/article/asia-rice-idINL3N1IY24H
Don’t tax
branded rice under GST, cut taxes on procurement: Vijay Setia, president, AIREA
India’s basmati rice exports have seen fluctuations in fortune in
the last couple of years because of factors such as slowing down in shipment to
Iran. (Image: Reuters) India’s basmati rice exports have seen fluctuations in
fortune in the last couple of years because of factors such as slowing down in
shipment to Iran, the country’s biggest export destination for aromatic
long-grained rice, and delay in settlement in payments from importers. Vijay
Setia, president, All Indian Rice Exporters Association (AIREA), spoke to FE’s
Sandip Das on critical issues currently impacting the exporters and millers.
Edited excerpts: What are the key issues rice exporters and millers would be
facing post GST scenario?
Although the GST council has recommended 5% taxes on branded rice
while exempting the cereals from taxes, we feel that it would make rice sold to
economically weaker section costlier. In the current scenario, the processor
has to put several information such as name of the company, date of packing etc.
as per requirement of weights and measures department and Food Safety and
Standards Authority of India on the rice pack. This would make the rice pack as
‘branded’ thus inviting taxes.
The next GST council meeting must address the issue as the government
has already promised zero tax on rice under GST regime. States with high local
taxes such as mandi fees, arthia (commission agents) commission – 2%, rural
development cess (2%) etc. on grain trade mostly prevalent in Punjab, Haryana
and others. It should be reduced drastically in the post GST roll out. Because
of higher taxation, processors or millers are not willing to set up units in
these key producing states. You have been pitching for stopping prevalent
practice of documents against acceptance (DA) in non-basmati rice exports while
in case of basmati rice shipment,
DA has been stopped by the commerce ministry. What are the measures
AIREA proposes for exporters to follow so that there are no delays in
settlement of payment for rice exported? Because of the prevalence of DA,
mostly resorted by small sized basmati rice exporters had become a buyers’
market. Often, consignments are not lifted from the port by importers, and
thus, the price has to be renegotiated leading to lower realisation. In a
fiercely competitive basmati rice exports trade, small players in order to
increase the volume of shipment often send rice consignment to importers who
use this unsecure credit to their advantage. We feel that because of the
practice of DA, the country’s basmati rice shipment has seen a 29% fall to Rs
22,714 crore in FY16, from a record Rs 29,291 crore reported in FY14.
However, the volume of basmati exports has risen from 3.7 million
tone (MT) to more than 4 MT in the same period. In FY17, despite lower shipment
to Iran, our exports declined to around 5% to Rs 21, 605 crore in comparison to
previous fiscal. Thus we has urged government to end the practice of DA in
exports of non-basmati rice as well. Basmati rice exporters are currently
following two modes – cash against document (invoices are delivered to the
importer only against payment) and letter of credit (importers instruct their
bank to pay exporters as per the specified conditions mentioned in the original
documentary credit). These two methods which are followed widely globally.
After a sharp fall in
basmati rice exports in the last couple of years, what is the prospects of
aromatic rice shipment in the current fiscal? In the current fiscal, the
realisation from basmati rice exports are set to increase compared to last few
years. We have been looking at new market for shipment of basmati rice. Overall
in the current fiscal the outlook for exports is quite bright.
http://www.financialexpress.com/market/commodities/dont-tax-branded-rice-under-gst-cut-taxes-on-procurement-vijay-setia-president-airea/695450/
