The Enterprise of the
Future'
April 19, 2018
As Liberia
looks toward its future, one company is determined to make its own contribution
to the country’s prosperity, one rice farmer at a time.
Down a
winding dirt road humming with cicadas, Peter Redd hoists a 100-pound bag of
homegrown rice onto his back. In a light drizzle that hints at the rainy season
to come, he and his family load 60 bags onto the waiting truck. It’s the first
time Redd has sold his rice, and his smile couldn’t be broader.
A few
miles away in a sunbaked warehouse, hundreds of rice bags are piled high to the
ceiling. Within days, they will be shipped off to Mary’s Meals, a nonprofit
that provides food for 126,000 Liberian school children.
Back in
urban Monrovia, venture capitalist Fred Balogun weighs his investment options.
His special interest is small “social impact” businesses that stimulate the
economy of post-war, post-Ebola Liberia.
This is but a
small slice of a network created by Fabio Lavelanet, CEO of Fabrar Rice, Inc.,
a new 24-employee start-up that buys rice from local growers, parboils it, and
mills it for sale on the local market. This is no ordinary development in
Liberia, where two civil wars and Ebola have crippled progress and left its
subsistence farmers among the poorest in the world.
Rice plays
the starring role in most Liberians’ diets, accounting for almost half the
population’s caloric intake. Despite the centrality of rice and the country’s
fertile climate—perfect for rice growing—a commercial rice market has never
been developed. Liberia resorts to importing a whopping 80 percent of its rice,
at a cost of about $480 million a year.
Why? It’s
simply cheaper to do so. The world’s top suppliers—Thailand, India, Pakistan,
Vietnam, and the US—have flooded the market, suppressed prices, and been
allowed to import without taxation. It adds up to an absurd predicament: it
costs less to ship rice from Thailand to Monrovia than from farms less than 50
miles away.
The
dynamics—government inaction, tangled regulations, and corruption—that have
kept this incongruity well-entrenched for decades are now under scrutiny from
all sides. As the nation’s first privately-owned commercial rice company,
Fabrar is on the front lines of the battle to reclaim Liberia’s rice economy,
productivity, and self-sufficiency.
Financed by a
mosaic of foreign aid, venture capital, lines of credit, and personal
investments, Fabrar is widely hailed as a sign of good things to come. “This is
a major step forward in what we need to do as a country,” said former President
Ellen Sirleaf Johnson. “Agriculture is the enterprise of the future for
Liberia.”
Activists and
politicians at every level—the president, foreign donors, international
organizations, and the private sector—are all looking to move the agricultural
sector from what one politician called “farming-slavery” to
“farming-prosperity.”
Their vision
is unanimous: Improve roads to connect farmers with markets, which will
increase their incomes. Infuse new techniques, fertilizer, and seeds into
farmers’ practices and invest in small and medium-sized businesses to increase
yields. With higher incomes, families can pay school fees, improve their
housing, and continually update their equipment. All of Liberia benefits.
Building a
business
Fabrar is the
brainchild of Lavelanet’s mother Jeanine Cooper, who calls herself an
“agri-preneur.” After a career with the UN, she established the business in
2009 with the dream of bringing Liberian rice to Liberian people. Formerly a
liaison between the UN’s African Union and its Office for the Coordination of
Humanitarian Affairs, she is known locally as an outspoken optimist, and she
advocates for multi-sector commitment to, and investment in, local rice.
Lavelanet is
as mission-driven as his mother. “People always ask me, ‘Are you a business or
a charity?’” His answer: both. After earning a BA and MBA from Temple
University in Pennsylvania, Lavelanet returned to his native Liberia with a
lifetime commitment to its improvement.
“I’m part of
a generation of rebuilders. Sure, I could be doing more elsewhere without so
many obstacles. But would I be doing something that matters as much?”
In fact, he
believes Liberians have a “moral obligation” to buy homegrown rice.
Fabrar’s
trajectory has required immense patience and reveals the maze of obstacles,
conflicts, frustrations, and opportunities in Liberia. Its story touches every
level of society: small farmers like Peter Redd, Liberian politicians,
families, multinational organizations, private sector companies, venture
capitalists, and foreign governments.
It also
reveals the widespread hope and determination to transform Liberia.
Fabrar
started slowly, with a handful of employees and few customers. Sometimes a slow
pace is a choice, Cooper laughs, most often not. Patience is a fine art in
Liberia, where the simplest transaction can get caught up in a tangle of
regulations, missteps, and delays.
“When we
started, we made the rounds of banks,” she recalls. “Banks are supposed to
bridge the gap. Everywhere in the world banks play a role between farmers and
processor, between processor and distributors. Here, they don’t play that
role,” she said. “None were lending.” Banks aren’t interested in
investing, she says, because companies usually don’t have sufficient
collateral.
“In a country
where 70 percent of citizens earn their livelihoods through agriculture, there
are no banks in Liberia that even have an agricultural lending package,” she
adds, shaking her head.
But Cooper
would not be deterred, and she and Lavelanet have gone on to secure a diverse
funding portfolio that has allowed rice production to surge from 25 tons a
month in its first year to 150 tons a month in 2017.
In 2015, the
United States Agency for International Development’s (USAID) $11.5 million Food
and Enterprise Development program, offered support to Fabrar as part of its
efforts to move farmers from subsistence to players in the local economy. With
USAID support, Fabrar was able to renovate its warehouse, buy Liberia’s first
automated rice milling machine, and install an electric power generator that
runs on non-edible palm oil instead of gasoline. Rice production doubled.
That same
year, they turned to an unlikely financing source: venture capital. The West
Africa Venture Fund (WAVF) was established with businesses like Fabrar in mind.
It likens post-conflict Liberia to post-World War II Japan, South Korea, and
West Germany, which, like Liberia, had secure democracies and international
support, but no financial foundation for sustained growth. WAVF is a
partnership anchored by the International Finance Corporation (IFC), the World
Bank’s private lending arm. The fund is also supported by the Catholic
Organization for Relief and Development Aid (CORDAID), a Netherlands-based NGO.
“We selected
Fabrar because rice is a staple, and we want to support local production. If we
can continue to scale up production, I believe it will have a great impact on
the country,” says Fred Balogun, WAVF’s country director for Liberia. The
$330,000 investment enabled Fabrar to buy a processing machine and increase its
output from one ton to 75 tons a month. With the 2015 deal, WAVF took 49
percent ownership of the rice plant, serves on the board, and offers advice and
consultation on business systems, administrative controls, and governance. WAVF
expects to sustain the investment for 3-5 years and exit with Fabrar able to
thrive on its own.
Balogun is
optimistic, but realistic.
The $6
million he is investing in 13 Liberian projects “is like a drop in the ocean
compared to what is required,” he says. “What we really need is more expertise
and scaled-up investment at the national level.” He bemoans the catastrophic
loss of intellectual capital in Liberia, as almost an entire generation was
denied an education during the civil wars, and many who fled from Ebola have
not returned.
Most
recently, after lengthy negotiations with the Liberian Bank for Development and
Investment, Fabrar secured a line of credit. “That gave us working capital—the
biggest need for a business like ours,” he says. Fabrar was able to buy a new
processor.
“That’s how I
was able in the very beginning to build my supply chain,” says Lavelanet. “We
rise and fall by the people and economy around us.”
Lavelanet
marvels at the support. “All of this,” he says, sweeping his arms, “is because
of that kind of support.” And he doesn’t only mean dollars. Advice and
counsel on a business plan, administration, and expanding the market have been
essential.
Fabrar has
also created other multi-party partnerships to expand its reach and impact. For
example, it made a deal with the Dokondan Farmers Collective in northeastern
Liberia to buy its rice on a long-term basis. The purchases are made possible
by a loan guarantee fund under another USAID-funded initiative, the Liberia
Agribusiness Development Activity (LADA), which supports agricultural
development and food security. LADA collaborates with Ministry of Agriculture
through the Liberia Bank for Development and Investment.
Today, Fabrar
buys rice from between 500 and 2,000 local rice farmers across the
country—individual farmers who deliver to the processing plant, collectives
that pool their rice, and independent farmers like Peter Redd. After
processing, Fabrar then sells to stores, government agencies, and nonprofits.
Cooper predicts that once Liberian rice companies get the requisite support,
they can produce 40 percent of rice consumed in the country. But she knows
it will take time.
Supporting
Liberian development is a point of principle and pride for Fabrar. About half
of its rice is sold to Mary’s Meals, for school lunches at 156
schools. Fabrar is known for being one of the few suppliers who stayed
open, paid its workers, and sold rice to the UN Food Programme during the Ebola
crisis of 2014; a notable example of the potential impact of strong local
businesses in developing countries.
Game-changers
Two
omnipresent elements of Liberian life are on everyone’s minds when it comes to
developing the rice economy: The condition of the country’s roads and the
Liberia-based Firestone Rubber, the largest natural rubber operation in the
world.
Rutted,
washed out, and neglected, roads are one of the most frustrating aspects of
life for Liberians and have been for decades. Less than a quarter of Liberia’s
roads are all-weather, with most impassable during rainy season, isolating
people and businesses from markets, supplies, and information. Agriculture in
Liberia is at the mercy of its roads, but the government has been slow to build
or repair them, with foreign donors and private companies filling the gap.
USAID, for
example, has announced a partnership with the World Bank, the Swedish
International Development Cooperation Agency, and the Japan International
Cooperation Agency, to provide a total of $240 million in the next five years
to build 300 miles of roadway.
Firestone,
with its miles of rubber tree fields across 75,000 acres, employs 8,000, and
purchases rubber from 60,000 small farmers. It wields both explicit and subtle
powers. It funds corporation schools and health care for its employees, pays
millions in taxes, and has been the major driver in the agricultural economy.
The company website says it has invested more than $135 million in projects
since the end of the civil war that will help Liberia rebuild.
But they buy
imported rice. “It would be a game-changer if Firestone bought local,” says
Lavelanet.
Untapped
potential
Oxfam
believes that development programs – including those that partner with the
private sector – are most effective when they’re designed, led, and owned by
local people. They know the context best and stand to gain most (or in the
worst cases lose) from the outcome of foreign assistance projects. When it
comes to agriculture in Liberia, there is no shortage of ideas among, farmers,
businesses, NGOs, and government players on how to improve the country’s
agricultural self-sufficiency.
In
conversations with Lavelanet, Cooper, and Liberians across sectors, five
essential development needs emerge.
1. Finance: Create mechanisms to infuse businesses with capital,
especially ones that connect local and foreign investors. Bring the financial
sector (banks, insurance companies) into the mix in a coordinated fashion.
Develop creative mechanisms for posting collateral for businesses that are
trying to grow.
2. Coordination: Better coordinate and integrate the programs of donors.
Organizations are duplicating efforts and sometime working at cross-purposes.
Many one-off efforts quickly evaporate at the end of funding, with no plan for
local ownership. There is a role for a cross-organization convener or advisory
board that could identify levers and solutions, create mechanisms for sharing
information, and hold players accountable to ensure that the right assets are
deployed at the right time in the right place.
3. Government investment: National commitment to small and
medium-sized businesses is essential to improve the business climate,
knowledge, and practices. Policies must favor domestic rice—ultimately all
government rice purchases should be locally grown. To spur the rice sector,
local experts suggest a simple one percent tax on rice imports could fund local
farmers.
4. Research: Identify trusted, reputable and reliable institutions that
can develop well-researched, promising models for developing the rice sector.
5. Corruption reduction: Eradicate the culture of whispering
about the age-old scourge of corruption, and take action. The word “corruption”
is still met with an impatient shrug and the widespread agreement that it will
go on unless serious action is taken at the highest levels of government.
Covered
with a dusting of rice powder and husks, Peter Redd wipes his brow and muses
about what rice sales might mean for his family’s future. “With more income,
there will be more food to eat and education for my children.” He thinks he can
earn enough money to replace the thatch roof of his home with stronger, more
protective corrugated metal. That might be possible in a year or two.
This is
Liberia, after all. Patience abounds.
Read more stories & updates about
Rice Transplanter Machines Market Analysis By
Current Industry Status & Growth Opportunities, Top Key Players, Target
Audience And Forecast To 2022
Rice Transplanter Machines
Market report
highlights the significant potential growth along with the business developers,
manufactures, production, consumption, revenue, Product Overview and Scope of
Rice Transplanter Machines market. This report provides the Production cost,
market share and CAGR (%) Comparison for the year 2013-2025.
Rice
Transplanter Machines market competition by top manufacturers/players,
with volume, revenue (Million USD), Players/Suppliers Profiles and Sales Data,
Manufacturing Base and market share for each manufacturer/player:
· Yanmar
· Iseki
· Kubota
· TYM
· Jiangsu
World Agriculture Machinery
· CLAAS
· Shandong
Fuerwo Agricultural Equipment
· Mitsubishi
Mahindra Agricultural Machinery
· Dongfeng
Agricultural Machinery
· Changfa
Agricultural Equipment
Request
for Rice Transplanter Machines Market Sample Report @ https://www.360Marketupdates.com/enquiry/request-sample/11207357
Geographically, Rice Transplanter Machines
Market report split globally into major key Regions, with revenue, market share
and growth rate from 2013 to 2024 (forecast), covering: United States, Europe, China, Japan, North
America, India.
By
Product types, Rice Transplanter Machines Market report revenue and growth
rate of each Type,
primarily split into:
· Mechanical
· Manual
The
major objectives of this report are as follows:
·
Define, analyse and forecast Rice Transplanter
Machines market by Product type, applications, key players and region.
·
Forecast the market size with the help of value
& volume for various segments regarding main regions (North America,
Europe, Asia Pacific and Rest of the World).
·
Provide detailed information concerning the major
factors (opportunities, drivers, restraints, and industry-specific challenges)
influencing the growth of Rice Transplanter Machines market.
·
Analyse the industry with respect to individual
growth trends, prospects and contributions to the total Rice Transplanter
Machines market.
·
Analyse opportunities in the market for various
stakeholders by identifying the high-growth segments of Rice Transplanter
Machines market.
By
End Users Application, Rice Transplanter Machines Market report focuses on the outlook
for major application areas, sales volume and growth rate for each Application,
including:
· Commercial
· Household
For
more help, contact our industry expert @ https://www.360marketupdates.com/enquiry/pre-order-enquiry/11207357
Table
of Contents – A Section-wise Analysis of Rice Transplanter Machines market
report
·
Global Rice Transplanter Machines Sales
(Consumption) by Regions (2011-2016)
·
Global Production and Growth Rate by Types,
Global Market Analysis by Applications
·
Global Rice Transplanter Machines Manufacturers
Profiles/Analysis
·
Manufacturing Cost Analysis, Industrial Chain,
Sourcing Strategy
·
Marketing Strategy Analysis, Distributors/Traders
·
Market Effect Factors Analysis
·
Global Rice Transplanter Machines Market Forecast
(2016-2021F)
·
Methodology and Data Source
Overall,
the report covers the profiles of Rice Transplanter Machines market players
with key economic, strength & weakness analyses, and recent activities,
providing a comprehensive outlook of Rice Transplanter Machines market. Also,
this Rice Transplanter Machines market report offers all the pre-requisite
material for clients looking to step-in into this industry, and simplify them
to articulate outlines while going for an investment in the industry.
Price
of this Report (SUL): $ 4000
Major
Topics Covered in Rice Transplanter Machines market research report are as
follows:
Marketing
Strategy Analysis, Distributors/Traders
·
Marketing Channel and advancement
·
Direct Marketing
·
Indirect Marketing
·
Market Positioning
Market
Effect Factors Analysis
·
Technology Progress/Risk
·
Technology Progress in Related Rice Transplanter
Machines market
·
Consumer Needs/Customer Preference Change
·
Economic/Political Environmental Change
KisanKraft enters into Seeds Segment
19 April 2018
Category:
|
The company signs licensing agreement with
National Research Development Corporation and National Bio-Diversity Authority
for Aerobic Rice
Related Category:
|
Sub Category:
|
KisanKraft Ltd, a leading manufacturer and
wholesale distributor of high quality agricultural machinery for “small &
marginal farmers” is entering into seeds business. KisanKraft has signed a 10
year licensing agreement with the National Research Development Corporation
(NRDC) and the National Bio-diversity Authority (NBA) for the marketing and
sale of an Aerobic rice variety developed by UAS, GKVK, Bengaluru.
Through this agreement, KisanKraft plans to sell
Aerobic rice seeds to farmers all over India through its dealer network. Areas
where majority of the farmers face water shortage and scarcity will be
benefitted the most. This is a part of a major push for environmentally
sustainable, water efficient and high yielding variety/hybrid cultivars.
KisanKraft plans on utilizing this agreement to
help farmers who are facing scarcity of water as Aerobic rice can be grown with
50% less water than normal wetland rice. This move also aims at reducing the
amount of labor, fertilizers and pesticides inputs that farmers use without
compromising on quality and yield.
Speaking at the signing, Ankit Chitalia, CEO of
KisanKraft Ltd, said “This agreement is a part of the inevitable advancement of
agriculture in our country. We are in dire need of a solution to the water
shortage issues that are plaguing our paddy farmers. Aerobic rice provides a
water efficient and sustainable solution to farmers while maintaining a high
level of yield. This is just the beginning, as KisanKraft will be increasing
efforts in the research and development of various crops with the aim of
helping the farmers of our country.”
Aerobic rice can be grown in most agro-climatic
zones of India, except in zones with excess rainfall e.g. coastal or hilly
regions, zones with black cotton soil and zones under low land water-logged
rice eco-system. Farmers of dry zones will receive maximum benefits through
Aerobic rice cultivation. The advantages of Aerobic rice are that it uses 50%
less water than that required for normal wetland paddy cultivation, and reduces
the amount of fertilizer, pesticides, labor costs and greenhouse gas emissions.
As against up to 5,000 litres of water required to produce one kg of wetland
rice, the Aerobic rice requires only up to 2,500 litres.
KisanKraft manufactures inter-cultivators, engines
and water-pumps etc.. It is also a wholesale distributor of high quality
agricultural machinery focusing on improving the quality of life of marginal
farmers with small land holdings by helping them to increase their earnings,
crop yields and cultivated areas. In a short span, KisanKraft has become one of
the most reputed and trusted companies in India, in this segment with a
nationwide presence. KisanKraft has an all India distribution network
comprising of 3000 dealers, 16 regional offices to serve its customers across
India.
Agricultural
Machinery Distributed Among Winners Of Crop Production Contest
Commissioner
Bilal Ahmad Butt here Thursday distributed agricultural machinery as prizes
among the farmers declared winners in a divisional level crop production
contest.
MULTAN, (UrduPoint / Pakistan Point News - 19th Apr, 2018 )
:Commissioner Bilal Ahmad Butt here Thursday distributed agricultural machinery
as prizes among the farmers declared winners in a divisional level crop
production contest.
The ceremony was held at Central Cotton Research Institute (CCRI) Multan where successful farmers who had
participated in production contests of seven different crops including mango, cotton, kino, paddy, maize, guava and potato,
received prizes.
Forty-five farmers of Multan, Vehari, Lodhran and Khanewal were
given agricultural machinery worth millions of rupees, says a release. Topwinners
of cotton production contest included Malik
Muhammad Hafeez (Multan), Muhammad Aslam (Khanewal),
Hafiz Khubaib (Vehari), and Major (Retd) Hussain
Mustehsan (Lodhran) who claimed the first
prize.
Kino production contest winners
included Muhammad Saeed (Vehari)
and Muhammad Asif (Khanewal).
Guava production contest winners included Muhammad Akram (Vehari),
and Inayat Ali (Khanewal). Mursaleen Athar from Vehari and
Naeemullah from Khanewal won
the maize production contest.
Mango production contest was won by
Muhammad Riaz (Multan) and Syed Fakhar Imam (Khanewal).
Potato production contest winners included Chaudhry Bashir Ahmad (Vehari),
and Imran Shahid (Khanewal).
Basmati rice production contest was won
by Muhammad Shafiq (Vehari),
and Muhammad Nasir (Khanewal).
The machinery awarded to farmers as prize included Rotovators, Tractor-mounter
stress sprayers, Engine wheel Harrow sprayers, cotton ridgers, tractor-mounted boom
sprayers, disk harrow, potato planter, mango orchard sprayers, and zero
tillage drills.
Former NA Speaker Syed Fakhar Imam, MPA
Mehdi Abbas Langah, chairman Zila Council Diwan Abbas Bukhari, Vice Chancellor
Muhammad Nawaz Sharif University
of Agriculture Dr. Asif Ali,
deputy mayor Multan Munawwar Ehsan Qureshi,
director agriculture extension Rana
Ahmad Muneer, director cotton Dr. Sagheer and other officials
attended the ceremony
Seedy Business: Chinese Scientist Sentenced to Ten Years for
Stealing Proprietary Rice Seeds
Embed
In 2013,
U.S. Customs and Border Protection agents caught researchers attempting to
smuggle a $75 million trade secret from the United States to China.
Unlike the trade secrets we usually discuss, the trade secrets in tow were rice
seeds. But not just any rice seeds: these valuable seeds were
genetically modified to create proteins used to treat gastrointestinal disease,
antibiotic-associated diarrhea, hepatic disease, osteoporosis and inflammatory
bowel disease.
Only six
employees had access to the rice seeds at Ventria Bioscience—a
biopharmaceutical company in Junction City, Kansas, and the only company in the
United States with this proprietary technology. One of these employees, a
Chinese scientist named Weiquang Zhang, stole hundreds of classified rice
seeds, stashed them in his freezer, and conspired to smuggle them back to
China.
Zhang also
had help. Wengui Yan, a U.S. citizen employed at Dale Bumpers National
Rice Research Center in Arkansas, invited a delegation of researchers from his
former employer in China to visit Kansas, using official U.S. Department of
Agriculture letterhead. During the delegation’s visit, Zhang slipped them
the seeds. Upon their departure, U.S. customs agents found upwards of 79
grams of seeds in the delegation’s luggage.
Zhang was
convicted in 2017 of conspiracy to steal trade secrets (18 U.S.C. §
1832(a)(5)), conspiracy to commit interstate transportation of stolen property
(18 U.S.C. § 371), and interstate transportation of stolen property (18 U.S.C.
§ 2314 and 2).
Last week,
against the backdrop of increasing trade tensions between the United States and
China, Zhang was sentenced to 121 months in federal prison for trade-secret
theft. Yan pled guilty to making false statements to investigators and is
awaiting sentencing.
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equipment and raw materials, client surveys, marketing channels, and industry
trends and proposals. Other significant information covering consumption, key
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report
Rice
Snack Pellets market report also covers all the regions and countries of the
world, which shows a regional development status, including market size, volume
and value, as well as price data. The Region Coverage as per bellow:
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United States Country
·
Europe Country
·
China Country
·
Japan Country
·
India Country
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Snack Pellets market report also provide market forecast data, according the
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1.
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Organic Rice Market Top Manufacturers by 2023:
RiceSelect, Kahang Organic Rice and Sanjeevani Organics
The
global Organic Rice market research report tracks
significant facts associated with business limitations and proceedings that
include innovative technological Organic Rice advancement, acquisitions, and
mergers, introduction of new product, various business stats of the Organic
Rice market that has been considered in the past and has to be processed over
the forecast period 2018- 2023. The global Organic Rice market report executes
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access the sample report, click here: http://emarketresearch.us/global-organic-rice-market-2017-2022/#Request-Sample
Further,
Organic Rice industrial restraint investigation of the market that adds up to
the report making it more presentable. The sector includes buyers and
supplier’s database of Organic Rice market along with the competitive players
of Organic Rice product including their production and cost structure.
Along
with this, the global Organic
Rice market includes major key players Dingxiang,
SUNRISE foodstuff JSC, Jinjian, Texas Best Organics, Yanbiangaoli, KHAOKHO
TALAYPU, Randallorganic, CAPITAL RICE, Heilongjiang Taifeng, YINCHUAN, URMATT,
HUICHUN FILED RICE, BEIDAHUANG, RiceSelect, Heilongjiang Julong, Sanjeevani
Organics, Vien Phu, Doguet’s Rice and Kahang Organic Rice that act as the major participants in
increasing the market volume and revenue of the Organic
Rice market.
Moreover,
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raw materials and other expenses that adds to manufacturing Organic Rice. The
information provided in the global Organic Rice market report relates to
the types of product
are Polished glutinous rice(sticky rice), Polished round-grained rice and
Indica(long-shaped rice), Organic Rice applications are Deep processing
and Direct edible
Major
geographical regions that include North
America covering up leading countries for Organic Rice market in Canada,
Mexico, and the United States, Europe covering up countries like Organic Rice
market in UK, France, Germany, Russia, and Italy, Asia Pacific covering up the
Organic Rice market in India, Korea, China, Japan, Thailand and South East
Asia, Latin America covering up Organic Rice market in Argentina,
Columbia, and Brazil, and the Middle East and Africa looking out for Organic
Rice market in Nigeria, UAE, South Africa, Saudi Arabia and Egypt respectively.
Moreover,
certain features are to be considered while preparing the Organic Rice report.
Mainly, the overall investigation of the companies that are involved in the
marketing and production of Organic Rice based on past and futuristic market
situation and market break down on the Organic Rice market segments that
include product type, applications, and geographical regions. Moreover, an
in-depth study of Organic Rice market changing aspects that provides a thorough
projection of the driving factors, growth factors, Organic Rice developing
countries, various company norms, obstacles, and opportunities applicable in
the Organic Rice market report.
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to comprehend the outline related to various manufacturer at small scale and
large scale level. Additionally, Organic Rice market also covers the PESTAL (Political, Economic, Social,
Technological, Environmental and Legal) and Organic Rice market on the basis of
SWOT analysis (Strength, Weaknesses, Opportunities, and Threats) including CAGR
figures over the forecast period 2018-2023.
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term of qualitative and quantitative. It provides in-depth analysis of the
global Organic Rice market, including dealers, distributors, contributors along
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Sanchez: Sugarlandia no more
+
AA
-
7 hours ago
IT HAS been the bane
of Negros Occidental to be called “sugarlandia.”
It used to be a case of putting all eggs in one basket of sugar.
Everything rises or falls on the fortune of this commodity. As one former official of the Sugar Regulatory Administration featured in the video documentary “Pureza” put it, when the sugar industry sneezes, the province catches a cold.
Not anymore. Negrenses are basking in the glow of good news after good news. From grass, it can thrive on the boons of grain.
Recently, PhilRice Chief Science Research Specialist Dr. Marissa Romero said the province already has areas intended for special rice production.
Romero said Negros Occidental, has not yet fully maximized its production and exportation of specialty rice potentials, thus the government should look at it as an enterprise opportunity for local farmers.
I remember in 2004 when the NGO Broad Initiatives for Negros Development (Bind) exported organic rice to Switzerland.
It was a one-shot deal. Switzerland—and European countries for that matter—are not known to be rice eaters. A market research shows they consume a small portion of rice once a week. It’s a very elastic product among Europeans.
But the fact that it was able to meet stringent Swiss import requirements shows the potential of rice as an export product.
Now in 2018, Romero emphasized that “There are many specialty rice areas in Negros Occidental which can produce quality products through proper postharvest” and that with “good labels and packaging, it can be competitive.”
A former Peace Corps volunteer who once worked in the Cordilleras emailed me once. Back in the USA, she was into the import business of heirloom rice varieties.
Bind back then was involved in plant genetic resource conservation. Community genebanking key to on-farm conservation, focusing on native rice conservation. These rice varieties are often found in the mountains of Negros Occidental.
In the plains, these rice varieties have been subsumed by IRRI-bred rice.
Now PhilRice is taking the cudgels for these rice endemics. Romero touched on business opportunities and different by-products of special or specialty rice.
She also discussed to what specialty rice is, why it is called special, what its benefits are, and how it can be utilized for value adding. Romero said specialty rice is of premium quality, thus it commands a higher price in the market.
Will Negrenses take up the call of business opportunities and rice conservation to boost the provincial economy?*
(bqsanc@yahoo.com)
It used to be a case of putting all eggs in one basket of sugar.
Everything rises or falls on the fortune of this commodity. As one former official of the Sugar Regulatory Administration featured in the video documentary “Pureza” put it, when the sugar industry sneezes, the province catches a cold.
Not anymore. Negrenses are basking in the glow of good news after good news. From grass, it can thrive on the boons of grain.
Recently, PhilRice Chief Science Research Specialist Dr. Marissa Romero said the province already has areas intended for special rice production.
Romero said Negros Occidental, has not yet fully maximized its production and exportation of specialty rice potentials, thus the government should look at it as an enterprise opportunity for local farmers.
I remember in 2004 when the NGO Broad Initiatives for Negros Development (Bind) exported organic rice to Switzerland.
It was a one-shot deal. Switzerland—and European countries for that matter—are not known to be rice eaters. A market research shows they consume a small portion of rice once a week. It’s a very elastic product among Europeans.
But the fact that it was able to meet stringent Swiss import requirements shows the potential of rice as an export product.
Now in 2018, Romero emphasized that “There are many specialty rice areas in Negros Occidental which can produce quality products through proper postharvest” and that with “good labels and packaging, it can be competitive.”
A former Peace Corps volunteer who once worked in the Cordilleras emailed me once. Back in the USA, she was into the import business of heirloom rice varieties.
Bind back then was involved in plant genetic resource conservation. Community genebanking key to on-farm conservation, focusing on native rice conservation. These rice varieties are often found in the mountains of Negros Occidental.
In the plains, these rice varieties have been subsumed by IRRI-bred rice.
Now PhilRice is taking the cudgels for these rice endemics. Romero touched on business opportunities and different by-products of special or specialty rice.
She also discussed to what specialty rice is, why it is called special, what its benefits are, and how it can be utilized for value adding. Romero said specialty rice is of premium quality, thus it commands a higher price in the market.
Will Negrenses take up the call of business opportunities and rice conservation to boost the provincial economy?*
(bqsanc@yahoo.com)
Pakistan to attend SCO summit as
full member in June: Yao Jing
ISLAMABAD: Chinese Ambassador
to Pakistan on Thursday said that first time Pakistan would attend Shanghai
Cooperation Organisation (SCO) summit hosted by China as full member in June
and president of Pakistan would grace the event.
While briefing the media
persons Chinese ambassador said that the meeting between President Xi and Prime
Minister of Pakistan Shahid Khaqan Abbasi remained successful during Boao
forum. Ambassador, who was present in the meeting, said that during the meeting
President Xi showed satisfaction on the progress of China Pakistan Economic
Corridor (CPEC). Chinese president said China-Pakistan relations are best
example of good neighbours and China take this relation to new stage.
Chinese ambassador said that
during the meeting PM Abbasi suggested President Xi to import sugar and rice
from Pakistan and now China is thinking about it.
Talking about development
projects in Gwadar, Chinese ambassador said that new projects in Gwadar
including two more water plants, expansion of Gwadar Airport and a big hospital
are under consideration.
Briefing about SCO summit he
said that this summit would very comprehensive where ministers from
transportation, trade, human rights etc would have meeting with each others.
“Chief Justices of all the members’ countries would also attend SCO summit to
develop their partnership in the field of judiciary,” he added.
In connection with the SCO, the
meeting of the Council of Foreign Ministers of the Member States will be held
in Beijing on April 24. Pakistan Foreign Minister Khawaja Muhammad Asif will
represent his country at the meeting.
This is the first meeting of
the Council of Foreign Ministers of the Member States after the enlargement of
the SCO, which aims to lay the groundwork for the Qingdao Summit.
Relying to a question about
anti-CPEC propaganda by the vested lobby, the ambassador said it will not work,
since Pakistani media is highly friendly and cooperative, and it is quite
effective in countering it, building positive image of their socio-economic partnership.
He pointed out that
consolidating the all-weather friendship between China and Pakistan has more
important and practical significance for regional peace and development. The
Shanghai Cooperation Organization (SCO) is a permanent intergovernmental international
organisation, which was announced in June 2001 and Pakistan was announced its
full member in June 2017.
Seedy Business: Chinese Scientist Sentenced to Ten Years for
Stealing Proprietary Rice Seeds
Embed
In 2013,
U.S. Customs and Border Protection agents caught researchers attempting to
smuggle a $75 million trade secret from the United States to China.
Unlike the trade secrets we usually discuss, the trade secrets in tow were rice
seeds. But not just any rice seeds: these valuable seeds were
genetically modified to create proteins used to treat gastrointestinal disease,
antibiotic-associated diarrhea, hepatic disease, osteoporosis and inflammatory
bowel disease.
Only six
employees had access to the rice seeds at Ventria Bioscience—a
biopharmaceutical company in Junction City, Kansas, and the only company in the
United States with this proprietary technology. One of these employees, a
Chinese scientist named Weiquang Zhang, stole hundreds of classified rice
seeds, stashed them in his freezer, and conspired to smuggle them back to
China.
Zhang also
had help. Wengui Yan, a U.S. citizen employed at Dale Bumpers National
Rice Research Center in Arkansas, invited a delegation of researchers from his
former employer in China to visit Kansas, using official U.S. Department of
Agriculture letterhead. During the delegation’s visit, Zhang slipped them
the seeds. Upon their departure, U.S. customs agents found upwards of 79
grams of seeds in the delegation’s luggage.
Zhang was
convicted in 2017 of conspiracy to steal trade secrets (18 U.S.C. §
1832(a)(5)), conspiracy to commit interstate transportation of stolen property
(18 U.S.C. § 371), and interstate transportation of stolen property (18 U.S.C.
§ 2314 and 2).
Last week,
against the backdrop of increasing trade tensions between the United States and
China, Zhang was sentenced to 121 months in federal prison for trade-secret
theft. Yan pled guilty to making false statements to investigators and is
awaiting sentencing.
Salt optimizes creation of 2-D materials
Rice scientists show how
salt lowers reaction temperatures to make novel materials.
April 19, 2018
Rice
University scientists used a dash of salt to simplify the
creation of two-dimensional materials that combined transition metals and
chalcogens.Scientists believe that the discovery could lead to smaller and
faster transistors, photovoltaics, sensors, and catalysts.
Boris Yakobson, a Rice professor of materials science and
nanoengineering and of chemistry, was the go-to expert when a group of labs in
Singapore, China, Japan and Taiwan primarily determined that salt reduces the
temperature at which some elements interact in a chemical vapor deposition
(CVD) furnace. Thus, it is easy to frame molecule-thick layers like
graphene with the capability to redo their substance organization for
particular layer-material and in like manner electrical, optical, synergist and
other helpful properties.
Scientists experimented their technique with CVD to create
47 compounds of metal chalcogenides. Most of the new compounds had two
ingredients, but some were alloys of three, four and even five. A significant
number of the materials had been envisioned and even pined for, but never made.
In the CVD procedure, atoms energized by temperatures — for this
situation in the vicinity of 600 and 850 degrees Celsius (1,112 and 1,562
degrees Fahrenheit) — shape a gas and at last settle on a substrate, connecting
to molecules of reciprocal science to frame monolayer precious stones.
Researchers already suspected salt could facilitate the process.
They also analyzed the molecular model to learn why salt made it
easier to melt metals with chalcogens and get them to react. That would help
them learn if it might work within the broader palette of the periodic table.
Yakobson said, “Whether in the form of common table salt (sodium
chloride) or more exotic compounds like potassium iodide, salt was found to
allow chemical reactions by lowering the energetic barrier that otherwise
prevents molecules from interacting at anything less than ultrahigh
temperatures.”
“I call it a ‘salt assault’. This is important for synthesis.
First, when you try to combine solid particles, no matter how small they are,
they still have limited contact with each other. But if you melt them, with
salt’s help, you get a lot of contact on the molecular level.”
“Second, salt reduces the sublimation point, where a solid
undergoes a phase transformation to gas. It means more of the material’s
component molecules jump into the gas phase. That’s good for general transport
and contact issues and helps the reaction overall.”
Scientists found that the procedure doesn’t encourage the
development of the 2-D-material itself specifically to such an extent as it
takes into account the arrangement of the middle of the road oxychlorides.
These oxychlorides at that point prompt the 2-D chalcogenide development.
Yakobson said, “Detailing this process required intensive
atom-by-atom simulations. These took weeks of heavy-duty computations of the
quantum interactions among as few as about 100 atoms – all to show just 10
picoseconds of a reaction. We only did four of the compounds because they were
so computationally expensive, and the emerging picture was clear enough.”
Co-authors of the paper are Jiadong Zhou, Fucai Liu, Qundong Fu,
Qingsheng Zeng, Hong Wang, Yu Chen, Juan Xia, Ting Yu and Zexiang Shen of
Nanyang Technological University, Singapore; Junhao Lin and Kazu Suenaga of the
National Institute of Advanced Industrial Science and Technology, Tsukuba,
Japan; Xiangwei Huang, Guangtong Liu, Yao Zhou and Qian Liu of the Chinese
Academy of Sciences, Beijing; Huimei Yu of East China University of Science and
Technology, Shanghai; Di Wu and Chuang-Han Hsu of the National University of
Singapore; Changli Yang and Li Lu of the Chinese Academy of Sciences and
Collaborative Innovation Center of Quantum Matter, Beijing; and Hsin Lin of the
National University of Singapore and the Institute of Physics, Academia Sinica,
Taipei, Taiwan.
Rice Husk Ash Market Top Manufacturers by
2023: Deelert Group, Jasoriya Rice Mill and Rescon (India)
The
global Rice Husk Ash market research report tracks
significant facts associated with business limitations and proceedings that
include innovative technological Rice Husk Ash advancement, acquisitions, and
mergers, introduction of new product, various business stats of the Rice Husk
Ash market that has been considered in the past and has to be processed over
the forecast period 2018- 2023. The global Rice Husk Ash market report executes
an inclusive study on the historical data, current as well as the forthcoming
market trends of Rice Husk Ash market and future possibilities. However, the Rice
Husk Ash market report stands to be precise in collecting the information that
can be viewed by numerous users which include researchers, Rice Husk Ash
experts, and advisors.
To
access the sample report, click here: http://emarketresearch.us/global-rice-husk-ash-market-key-players-application-type-region-forecast-2022/#Request-Sample
Further,
Rice Husk Ash industrial restraint investigation of the market that adds up to
the report making it more presentable. The sector includes buyers and
supplier’s database of Rice Husk Ash market along with the competitive players
of Rice Husk Ash product including their production and cost structure. Along
with this, the global Rice Husk Ash market includes major key
players Yihai Kerry Investments, Usher Agro, Rescon (India),
Agrilectric Power Company, Guru Metachem, Jasoriya Rice Mill and Deelert Group that
act as the major participants in increasing the market volume and
revenue of the Rice Husk Ash market.
Moreover,
the Rice Husk Ash report complements the production procedure of Rice Husk Ash,
raw materials and other expenses that adds to manufacturing Rice Husk Ash. The
information provided in the global Rice Husk Ash market report relates to
the types of product are Silica Content Between 90-94%,
Silica Content More Than Or Equal to 95%, Silica Content Between 80-84% and
Silica Content Between 85-89%, Rice Husk Ash applications
are Building & Construction, Silica, Ceramics & Refractory, Rubber
and Steel Industry
Major
geographical regions that include North America covering up
leading countries for Rice Husk Ash market in Canada, Mexico, and the United
States, Europe covering up countries like Rice Husk Ash market in UK, France,
Germany, Russia, and Italy, Asia Pacific covering up the Rice Husk Ash market
in India, Korea, China, Japan, Thailand and South East Asia, Latin America
covering up Rice Husk Ash market in Argentina, Columbia, and Brazil, and
the Middle East and Africa looking out for Rice Husk Ash market in Nigeria,
UAE, South Africa, Saudi Arabia and Egypt respectively.
Moreover,
certain features are to be considered while preparing the Rice Husk Ash report.
Mainly, the overall investigation of the companies that are involved in the
marketing and production of Rice Husk Ash based on past and futuristic market
situation and market break down on the Rice Husk Ash market segments that
include product type, applications, and geographical regions. Moreover, an
in-depth study of Rice Husk Ash market changing aspects that provides a
thorough projection of the driving factors, growth factors, Rice Husk Ash
developing countries, various company norms, obstacles, and opportunities
applicable in the Rice Husk Ash market report.
The
global Rice Husk Ash market has emphasized on each and every region thoroughly
to comprehend the outline related to various manufacturer at small scale and
large scale level. Additionally, Rice Husk Ash market also covers the PESTAL
(Political, Economic, Social, Technological, Environmental and Legal) and Rice
Husk Ash market on the basis of SWOT analysis (Strength, Weaknesses,
Opportunities, and Threats) including CAGR figures over the
forecast period 2018-2023.
Enquire
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Comprehensive and comfortable for our viewers to understand the Rice Husk Ash
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trends, upstream and downstream in the upcoming
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Historical and Rice Husk Ash futuristic information taken into account while
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regions
—
Detailed information on Rice Husk Ash market classification, key
opportunities, and market development, as well Rice Husk Ash market
restrictions and major challenges confronted by the competitive market.
—
The Rice Husk Ash report includes events associated with the manufacturing and
distribution networks as well as cost analysis.
In
conclusion, the Rice Husk Ash report offers wide-range of information both in
term of qualitative and quantitative. It provides in-depth analysis of the
global Rice Husk Ash market, including dealers, distributors, contributors
along with research findings, appendix and data sources.
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Post
navigation
https://themobileherald.com/rice-husk-ash-market-top-manufacturers-by-2023-deelert-group-jasoriya-rice-mill-and-rescon-india/72557/Basmati Rice Market Top Manufacturers by 2023: LT Foods,
KRBL Limited, Amira Nature Foods and Best Foods
The
global Basmati Rice market research report tracks
significant facts associated with business limitations and proceedings that
include innovative technological Basmati Rice advancement, acquisitions, and
mergers, introduction of new product, various business stats of the Basmati
Rice market that has been considered in the past and has to be processed over
the forecast period 2018- 2023. The global Basmati Rice market report executes an
inclusive study on the historical data, current as well as the forthcoming
market trends of Basmati Rice market and future possibilities. However, the
Basmati Rice market report stands to be precise in collecting the information
that can be viewed by numerous users which include researchers, Basmati Rice
experts, and advisors.
To
access the sample report, click here: http://emarketresearch.us/global-basmati-rice-market/#Request-Sample
Further,
Basmati Rice industrial restraint investigation of the market that adds up to
the report making it more presentable. The sector includes buyers and
supplier’s database of Basmati Rice market along with the competitive players of
Basmati Rice product including their production and cost structure. Along with
this, the global Basmati
Rice market includes major key players Amira
Nature Foods, Aeroplane Rice, Tilda Basmati Rice, Adani Wilmar, KRBL Limited,
Sungold, Amar Singh Chawal Wala, Kohinoor Rice, LT Foods, Dunar Foods, Galaxy
Rice Mill, Best Foods and Hanuman Rice Mills that act as the major participants in
increasing the market volume and revenue of the Basmati
Rice market.
Moreover,
the Basmati Rice report complements the production procedure of Basmati Rice,
raw materials and other expenses that adds to manufacturing Basmati Rice. The
information provided in the global Basmati Rice market report relates to
the types of product
are Pakistani Basmati Rice and Indian Basmati Rice,
Basmati Rice applications
are Direct Edible and Deep Processing
Major
geographical regions that include North
America covering up leading countries for Basmati Rice market in Canada,
Mexico, and the United States, Europe covering up countries like Basmati Rice
market in UK, France, Germany, Russia, and Italy, Asia Pacific covering up the
Basmati Rice market in India, Korea, China, Japan, Thailand and South East
Asia, Latin America covering up Basmati Rice market in Argentina,
Columbia, and Brazil, and the Middle East and Africa looking out for Basmati
Rice market in Nigeria, UAE, South Africa, Saudi Arabia and Egypt respectively.
Moreover,
certain features are to be considered while preparing the Basmati Rice report.
Mainly, the overall investigation of the companies that are involved in the
marketing and production of Basmati Rice based on past and futuristic market
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projection of the driving factors, growth factors, Basmati Rice developing
countries, various company norms, obstacles, and opportunities applicable in
the Basmati Rice market report.
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to comprehend the outline related to various manufacturer at small scale and
large scale level. Additionally, Basmati Rice market also covers the PESTAL (Political, Economic, Social,
Technological, Environmental and Legal) and Basmati Rice market on the basis of
SWOT analysis (Strength, Weaknesses, Opportunities, and Threats) including CAGR
figures over the forecast period 2018-2023.
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Why
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— The
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Customs seize rice, vegetable oil, worth
N65m, in Kaduna
By
-
April 19, 2018
The Federal Operation Unit Zone B of Nigeria Customs Service
said on Thursday it seized 1, 500 bags of smuggled rice and vegetable oil
valued over N65 million in Kaduna.
The Controller, Usman Dakingari who displayed the seized items
before newsmen in Kaduna, said the goods were loaded in two trailers and
concealed using raw groundnut and ginger.
He said that the trucks contained over 1,500 bags of rice with
duty paid value of about 60 million naira while the vegetable oil has duty
value of N5 million.
The controller explained that the items were recovered based on
intelligence information from officers and some patriotic Nigerians.
Dakingari said, ““The command will not tolerate any act of
smuggling activities in the zone and we are ready to bring all economic
saboteurs to book.”
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Luzon
rice traders supply Metro with cheap grains
06:00 AM
April 20, 2018
CABANATUAN
CITY—Grains dealers are offering rice produced in Nueva Ecija, Bulacan and
Isabela provinces at P39 a kilogram from April to May, to help manage the price
jump created by the absence of supplies from the National Food Authority (NFA).
The NFA
lost almost all its buffer stocks due to internal government debates about
importing rice. Cheap NFA rice has kept the prices of commercial rice from
drastically shooting up.
President
Duterte recently approved rice importation before placing the NFA back under
the supervision of the Department of Agriculture.
Rice
millers in Nueva Ecija said they were prepared to supply Metro Manila markets
until the rice imports arrived.
Newly
harvested and milled rice had been delivered directly to wholesalers and
retailers to keep the price steady at P39 a kilogram, according to Mel Coronel,
president of the Nueva Ecija Rice Millers Association.
He said
members of the association had contributed bags of rice which were deployed to
assigned areas in Metro Manila.
They are
expected to deliver 100,000 bags (each containing 50 kg) in April and another
100,000 bags in May, he said.
“We are
selling our rice at a loss but … we are able to help our countrymen,” said
Coronel, who met with Mr. Duterte and other rice dealers in Malacañang on April
5.
He said
rice millers associations in Isabela and Bulacan had also promised to add 100,000
bags of rice each month.
The farm gate price of palay in Nueva Ecija
is P20 a kg while dried palay sells for P24.50 a kg. —ANSELMO ROQUE
Read more: http://newsinfo.inquirer.net/983829/luzon-rice-traders-supply-metro-with-cheap-grains#ixzz5DDoeSCbi
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Jigawa
engages 1,000 farmers for rice cultivation
The Jigawa Government will support 1,000 farmers to cultivate
1,000 hectares of rice farms across the state in 2018, an official said on
Thursday.
Alhaji Jamilu Dan-Malam, a Special Assistant to Gov. Muhammad
Badaru, told the newsmen in Dutse that the farmers were drawn from the 23 rice
producing local government areas in the state.
He said, ‘‘Preparations for rice production in the 2018 cropping
season is ongoing.
‘‘As you know, His Excellency has given much attention to
agriculture with a view to improving the economic wellbeing of the downtrodden.
‘‘And last week we held a meeting with him where he approved
that 1,000 hectares of rice be cultivated during the 2018 wet farming season.
‘‘So, 1,000 farmers will be engaged where each farmer will be
supported to cultivate one hectare.
‘‘The beneficiaries are currently being screened to participate
in the exercise in 23 rice producing local government areas of the state.’’
Dan-Malam stated that preparations for the programme had reached
60 per cent, adding that the screening for the beneficiaries had commenced.
According to him, one tube well would be sunk for each hectare
to ensure adequate water supply for the programme.
Dan-Malam further told the newsmen that improved and certified
seeds, fertiliser, water pumps, insecticides, pesticides and sprayers were
among the inputs to be given to the farmers.
Read Also: Landslide
kills one in Jigawa
‘‘Hadejia senatorial district will have 40 per cent of the total
hectares because they have the largest Fadama land in the state, while the
remaining 60 per cent would be shared between the other two senatorial
districts.’’
He pointed out that the beneficiaries would pay back the soft
loan after cultivation.
‘‘After cultivation, the farmers will pay for the total cost of
the inputs provided to them for the exercise.
‘‘They will just pay the exact amount; no interest is attached
to it.
‘‘And after the exercise, the off-takers will come and buy from
the youths, then we will take our money for the provided farm inputs and they
will get their share too.
‘‘The farmers have nothing to worry about, as you know already,
we have our local off-takers like Danmod rice mills in Kafin Hausa, Three
Brothers in Hadejia, Majestic in Birnin Kudu and Closjas rice millers, among
others,’’ he said.
Govt probes source
of cash crunch, discovers large payments without 'any economic logic'
·
·
·
·
HIGHLIGHTS
·
Withdrawals
worth thousands of crores made in March-April: Fin Min sources
·
Rice millers,
contractors, and agro-traders in 3 states made large payments, taxman discovers
·
Transactions
didn't tally with past spending, had little economic rationale
Large cash withdrawals in a few
states may have behind the recent cash crunch in the country, a preliminary
government probe has revealed (Getty file photo)
The
government now appears to have ample evidence that the ongoing cash crunch was
caused, as Union Finance Minister Arun Jaitley said Monday, by a "sudden
and unusual" increase in "some areas."
In
recent weeks, government sources say, there have been high-volume cash
withdrawals worth crores - first in Telangana, then in northern Karnataka, and
later in Andhra Pradesh. A closer look at the map shows the cash rush started
in contiguous areas in these three states.
On
the other hand, sources have categorically denied that the recent surge in
demand for cash was caused by excessive withdrawals made by ordinary citizens,
or from ATMs.
"The shortage started with large payments
using cheques and other banking instruments by some - in a specific
region", a senior official said.
Now,
government agencies are trying to determine why the large withdrawals were made
- for hoarding as black money, for use in the upcoming assembly election in
Karnataka, or for something else.
'NO
ECONOMIC LOGIC'
The
I-T department has found - using data mining - that a large number of rice
millers, contractors, and agro-traders in the three southern states began
making large payments in the second half of March, through cheques and other
banking instruments, India Today has learned.
In
fact, in the last few days, the taxman has conducted 40-odd surveys. It has
discovered instances where a single business made almost 20 high-volume
payments in the span of a few hours, a top source in the Ministry of Finance
said.
Government
sources said some of the players who could have triggered the cash crunch are
already being investigated.
The
I-T department has already quizzed many of the contractors, rice millers and
agro-traders involved under Section 131* of the Income Tax Act.
Scrutiny
of their current and past accounts revealed that the payments they made didn't
tally with their past spending, and had little economic rationale. In many
cases, payments were made to entities which did not previously have business
links to the issuing company, or the recipient had no business to justify the
receipt.
For
the moment, it's unclear why these transactions happened.
"There
seems to be no reason why these large number and volume of payments were
made", an income tax official said. "The department is trying to
question the recipients to find what did they do with the payments they
received without any economic logic."
HOW
THE CASH CRUNCH MAY HAVE SPREAD
In
March-April, there was a 13-day period when withdrawals worth Rs 45,000 crore
took place (Normally, the number is just Rs 20,000 crore), sources in the
Ministry of Finace said.
Government
sources explained that the high-volume withdrawals led to a shortage of cash in
the southern regions where they occurred.
News
of the crunch spread like wildfire, leading to higher withdrawals elsewhere - for bank account holders
didn't want to be left strapped for cash.
The
panic was particularly pronounced in places where Rs 2,000 bills were being
hoarded, and where all ATM machines are yet to calibrated to dispense Rs 200
bills in abundance.
*This
section empowers I-T authorities to conduct inquiries, and invests it with the
power to summon individuals and examine them under oath, issue commissions, and
ask for the production of documents and books of account.
https://www.indiatoday.in/india/story/cash-crunch-itWe will support 1,000 farmers for rice cultivation –
Jigawa govt
WorldStage
Newsonline— The Jigawa State Government has announced plan to will support
1,000 farmers to cultivate 1,000 hectares of rice farms across the state in
2018.
Special
Assistant to Jigawa State Governor, Alhaji Jamilu Dan-Malam who
stated this in Dutse said that the farmers were drawn from the 23
rice producing local government areas in the state.
He
said, ‘‘Preparations for rice production in the 2018 cropping season is
ongoing.
‘‘As
you know, His Excellency has given much attention to agriculture with a view to
improving the economic wellbeing of the downtrodden.
‘‘And
last week we held a meeting with him where he approved that 1,000 hectares of
rice be cultivated during the 2018 wet farming season.
‘‘So,
1,000 farmers will be engaged where each farmer will be supported to cultivate
one hectare.
‘‘The
beneficiaries are currently being screened to participate in the exercise in 23
rice producing local government areas of the state.’’
Dan-Malam
stated that preparations for the programme had reached 60 per cent, adding that
the screening for the beneficiaries had commenced.
According
to him, one tube well would be sunk for each hectare to ensure adequate water
supply for the programme.
Dan-Malam
further said that improved and certified seeds, fertiliser, water pumps,
insecticides, pesticides and sprayers were among the inputs to be given to the
farmers.
‘‘Hadejia
senatorial district will have 40 per cent of the total hectares because they
have the largest Fadama land in the state, while the remaining 60 per cent
would be shared between the other two senatorial districts.’’
He
pointed out that the beneficiaries would pay back the soft loan after
cultivation.
‘‘After
cultivation, the farmers will pay for the total cost of the inputs provided to
them for the exercise.
‘‘They
will just pay the exact amount; no interest is attached to it.
‘‘And
after the exercise, the off-takers will come and buy from the youths, then we
will take our money for the provided farm inputs and they will get their share
too.
‘‘The
farmers have nothing to worry about, as you know already, we have our local
off-takers like Danmod rice mills in Kafin Hausa, Three Brothers in Hadejia,
Majestic in Birnin Kudu and Closjas rice millers, among others,’’ he said.
-department-ministry-of-finance-1215885-2018-04-19
I-T Dept
finds excessive withdrawals in Telangana, Karnataka, AP led to cash crunch
Rahul
Shrivastava Last
Updated: April 20, 2018 | 11:04 IST
WE RECOMMEND
MORE FROM
THE AUTHOR
The Income Tax Department has
zeroed in on the main reason that led to a sudden currency shortage in several
states earlier this week. I-T Department sources told India Today that
excessive cash withdrawals first started in Telangana and later spread to
neighbouring states Karnataka and Andhra Pradesh.
But, who made these withdrawals? "Rice millers, contractors and agro-traders made unusually large number of high volume payments without any justification. The department has also found that the large number of high-worth payments were made through cash and other instruments. In fact, 20 odd huge transactions were made in one go," the source told India Today.
But, who made these withdrawals? "Rice millers, contractors and agro-traders made unusually large number of high volume payments without any justification. The department has also found that the large number of high-worth payments were made through cash and other instruments. In fact, 20 odd huge transactions were made in one go," the source told India Today.
I-T Department is suspecting
hoarding of cash to create currency shortage in Karnataka, according to the
source. The southern state is scheduled to go to polls in less than a month.
The tax authority is questioning the recipients of huge amounts of withdrawn
cash. The probe shows payments and withdrawals were way beyond past trends.
Last week, ATMs in Gujarat,
Maharashtra, Bihar, Rajasthan, Uttar Pradesh, Madhya Pradesh, Telangana,
Karnataka and Aandhra Pradesh had run out of cash. The Finance Ministry in a
statement said that the crisis happened to unusual spurt in currency demand in
last three months.
On Thursday, it was reported that
the situation in many parts of the states have improved with over 80 per cent
of ATMs working fine. In a report, the SBI claimed that there was no real
currency crisis and what had had happened could be a seasonal phenomenon.
It said: "The decline in ATM
withdrawal in the fourth quarter could actually be a seasonal phenomenon apart
from the usual reasons floating around like currency shortage. This strongly
supports our contention that the current shortage could be superficial rather
than real."
The
NFA kerfuffle
SOMETIMES
it’s so hard to convince people that President Rodrigo Duterte is going to do
exactly as he says. But it’s sad when even his own people apparently don’t
consider him serious enough to do the follow- through.
This is
my takeaway from the removal of Cabinet Secretary Leoncio Evasco Jr. as
chairman of the policy-making National ouster was inevitable, simply because
there was no way Duterte could back away from the issue any longer.
Despite
Duterte’s many and long pronouncements on the need for the importation of cheap
rice to cover the shortfall in the stocks of the National Food Authority,
people—especially people in Malacañang identified with Evasco—continued to
paint the issue as a power play between the Cabinet Secretary and NFA
Administrator Jason Aquino. And they picked the outsider Aquino to lose against
the powerful, longtime friend and supposed relative of Duterte, Evasco.
I
believed then and I believe now that Duterte never framed the issue of rice
importation in such Machiavellian terms. To the president, who I first heard
discuss the issue early last year, it was a problem that needed a quick
solution that the Palace was in a perfect position to provide.
Cheap
rice stocks for the poor in NFA warehouses were running low, so he ordered
government-to-government importation. Some people, including a holdover Aquino
undersecretary in Evasco’s office, tried to amend this oh-so-clear directive by
converting the 250,000-ton importation requested by Duterte into a
government-to-private sector deal. That meant private dealers would get to wet
their beaks in the transaction, instead of the government just dealing with
another state and the imported stocks arriving faster than if the Philippines
dealt with private traders. Duterte fired her during a humiliating press
conference.
Then
early this year, Duterte asked about the importation, which still hadn’t been
sealed. Again, the president was told by the council of Evasco that the deal
was in the pipeline; the president, in an NFAC meeting that he presided over,
said to get it done.
Then the
council members did a strange thing: They started blaming Aquino for sabotaging
the importation by selling off NFA’s rice stocks in large volumes too soon,
thus causing the rice crisis.
Of
course, Aquino had nothing to do with rice importation and would have in no way
benefited from either a GTG or a GTP import scheme. Besides, I will insist that
this is a case of officials trying to amend a clear and direct order by the
president – and being punished after they were found out.
How
difficult would it have been for Evasco and his council members, for instance,
to just do what Duterte told them to do, which was to import rice to shore up
NFA stocks? Why did they have to go through the rigmarole of finding local
stocks that they knew did not exist, or at least were nonexistent in the
mandated NFA buying price of P34 per kilo milled?
Now
Evasco has been removed as head of the council, Aquino is still at NFA,
Agriculture Secretary Emmanuel Piñol is left with the job of fixing the
unnecessary mess created. And if rice isn’t imported soon, the NFA will still
have nothing to sell to the poorest five percent of the population or to stock
up for natural calamities.
Note that
even after meeting with local rice cooperatives, government officials were only
able to convince farmers to sell at P39 per kilo, which is just going to cost
more. Besides, at P39, the regular-milled variety being passed off as NFA rice
is just one peso cheaper than the cheapest commercial variety available, so
what’s the diff?
* * *
Some say
the free-marketers in the Duterte Cabinet, including some of those belonging to
the NFAC, don’t like the idea of rice subsidies, even the bare-bones ones being
provided by the NFA. But I’d like to believe that Duterte is actually a
believer in social safety nets, especially for the very poor, and will maintain
or even expand what little subsidies government can provide.
One of
the reasons, I think, for Duterte’s wide appeal is because of his demonstrable
empathy and his very visible heart for the poor.
Besides,
Duterte knows that rice is also a political issue. He cannot have become the
accomplished politician (especially the accomplished local politician) that he
is if he did not understand perfectly the issues surrounding the national
staple.
Beyond
Evasco and his allies in the NFAC, the kerfuffle in the council should remind
the free-marketers in the Cabinet that Duterte will not sell out his poorest
constituency. That is certainly non-negotiable, for him.
Looking
beyond, it should be clear that even someone as purportedly close to Duterte as
Evasco, a former Catholic priest, communist rebel and mayor of Maribojoc,
Bohol, who is also said to be related by blood to the president, cannot rely
simply on his sterling connections with the Chief Executive. Duterte may not
know Aquino, a rebel soldier and former Army Scout Ranger, from Adam, but he
still sided with him in that supposed spat with the powerful CabSec.
Duterte
is really that rare bird who doesn’t care about anything except doing the right
thing. This rice importation controversy, to my mind, conclusively proves that.
Central
provinces target 2.5 million tonnes of rice in upcoming crops
Dak Lak (VNA) – The Ministry of Agriculture and Rural Development (MARD)
has asked South Central and Central Highlands provinces to strive to produce at
least 2.5 million tonnes of rice in this year’s upcoming crops.
The MARD made the call during a conference held in Buon Ma Thuot
city of the Central Highlands province of Dak Lak to review rice production in
the 2017-2018 winter-spring crop in the regions and launch this year’s production
plan.
Accordingly, the provinces plan to grow more than 448,600 ha of
rice in this year’s upcoming crops, with half of them being planted in the
summer-autumn crop.
The ministry also instructed the provinces to arrange suitable
time for rice growing and apply cultivation techniques to avoid drought and
lessen its impacts to rice production.
In the 2017-2018 winter-spring crop, the South Central and Central
Highlands provinces planted more than 320,470 ha of rice, yielding an estimated
output of about 2.03 million tonnes, a rise of 60,200 tonnes compared to last
year’s crop.
The MARD reported that the country’s rice exports in the January –
March period totalled 1.36 million tonnes worth 669 million USD, representing
year-on-year rises of 9.4 percent in volume and 24 percent in value. China
remained the top importer of Vietnamese rice, accounting for 24.4 percent of
total exports
Last year, Vietnam earned 2.6 billion USD from exporting 5.8
million tonnes of rice.-VNA
‘NFA must continue selling cheap government rice’
By
-
April 19, 2018
Agriculture Secretary Emmanuel F. Piñol is pushing for the
retention of the marketing functions of the National Food Authority (NFA) even
after the quantitative restriction (QR) on rice is scrapped to ensure stable
prices.
“While there are diverse views on what the role of the NFA
should be, I still maintain that the NFA could be an effective marketing and
trading arm of our Filipino farmers and fishermen if managed properly and given
guidance,” Piñol, who now chairs the NFA Council (NFAC), told the BusinessMirror
on Thursday. Piñol added the marketing functions of the NFA would even be
more vital in a post-QR regime, when imports are expected to flood
the domestic market.
the domestic market.
The Department of Agriculture (DA) chief echoed the sentiment of
NFA Administrator Jason L.Y. Aquino, who wanted to retain the function of the
food agency even after the rice QR is removed. In early April Aquino argued
that the NFA’s food-security role should even be strengthened under a post-rice
QR regime.
“Food security should never be left to the mercy of trade
regimes. Rice is the most basic food of Filipinos. In an era of boundless
influx of rice imports into the country, the government should be more vigilant
about maintaining adequate levels of the staple and to make it constantly available
and accessible to all at affordable prices,” he said in a statement.
“The NFA believes that there should always be a National Rice
Reserve even under a time of surplus because rice production is
never assured or certain at all times. This would also spare the country from
exposure to price volatility brought about by global political and economic
shifts,” he added.
Economic managers have been vocal in removing the commercial and
marketing functions of the NFA once the country’s rice importation is
tariffied, leaving it with its buffer-stocking role.
“The NFA should really just focus on ensuring adequate buffer
and regulation [of the market]. They should no longer be involved in buying
[and] trading,” Socioeconomic Planning Secretary Ernesto M. Pernia told the
BusinessMirror in February.
In the meantime, the government has put on the back burner the
restructuring of the NFA to focus on converting the QR into tariffs. National
Economic and Development Authority Assistant Secretary Mercedita Sombilla said
the government will restructure the NFA right after the law removing the QR on
rice is passed by Congress.
An NFA official told the BusinessMirror that removing the
commercial power of the grains agency while retaining its buffer-stocking role
is “problematic” as its stockpile could rot due to the removal of possible
disposal channels.
“Rice should be distributed every six months because it cannot
stay for so long as its shelf life is only limited. So, if we only have a
[buffer stocking] role, how can we sell or dispose our stocks by the sixth
month when we need to refresh our stockpile?” said the official, who requested
anonymity.
“So the stocks could rot. That’s why there is a need for other
schemes, such as selling, to dispose the stocks [especially if there is no
calamity],” the official added. The DA chief said he also wants to expand the
NFA’s functions to become the country’s trading agency for agricultural
commodities.
“My personal view is that the NFA has been perceived as a rice
agency, which isn’t the case. The World Trade Organization recognizes the NFA
as the only state trading agency of the Philippines,” Piñol said.
“This means that the NFA could trade on behalf of Filipino
farmers and fishermen, as farmers and fishermen are usually the ones organizing
themselves and finding the right market for their products,” he added.
Piñol said the NFA could even earn more revenues by functioning
as a state trading agency, similar to India’s Agricultural and Processed Food
Products Export Development Authority (APEDA) and Hanoi’s Vietnam Southern Food
Corp.
“Government help in consolidating the products of farmers and
representing them in global trade is minimal. Why can’t the NFA perform that
function?” he said.
“Maybe the NFA will earn more if it will act as a consolidator
and trading agency of Filipino farmers and fishermen who only need assistance
from the government,” Piñol added.
The agriculture chief said a technical working group would study
the feasibility of his proposal and make recommendations to the NFAC.
Luzon
rice traders supply Metro with cheap grains
06:00 AM
April 20, 2018
CABANATUAN
CITY—Grains dealers are offering rice produced in Nueva Ecija, Bulacan and
Isabela provinces at P39 a kilogram from April to May, to help manage the price
jump created by the absence of supplies from the National Food Authority (NFA).
The NFA
lost almost all its buffer stocks due to internal government debates about
importing rice. Cheap NFA rice has kept the prices of commercial rice from
drastically shooting up.
President
Duterte recently approved rice importation before placing the NFA back under
the supervision of the Department of Agriculture.
Rice
millers in Nueva Ecija said they were prepared to supply Metro Manila markets
until the rice imports arrived.
Newly
harvested and milled rice had been delivered directly to wholesalers and
retailers to keep the price steady at P39 a kilogram, according to Mel Coronel,
president of the Nueva Ecija Rice Millers Association.
He said
members of the association had contributed bags of rice which were deployed to
assigned areas in Metro Manila.
They are
expected to deliver 100,000 bags (each containing 50 kg) in April and another
100,000 bags in May, he said.
“We are
selling our rice at a loss but … we are able to help our countrymen,” said
Coronel, who met with Mr. Duterte and other rice dealers in Malacañang on April
5.
He said
rice millers associations in Isabela and Bulacan had also promised to add
100,000 bags of rice each month.
The farm gate price of palay in Nueva Ecija
is P20 a kg while dried palay sells for P24.50 a kg. —ANSELMO ROQUE
Read more: http://newsinfo.inquirer.net/983829/luzon-rice-traders-supply-metro-with-cheap-grains#ixzz5DDpYph00
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebookhttp://newsinfo.inquirer.net/983829/luzon-rice-traders-supply-metro-with-cheap-grains
‘NFA must continue selling cheap government
rice’
By
-
April 19, 2018
Agriculture Secretary Emmanuel F. Piñol is pushing for the
retention of the marketing functions of the National Food Authority (NFA) even
after the quantitative restriction (QR) on rice is scrapped to ensure stable
prices.
“While there are diverse views on what the role of the NFA
should be, I still maintain that the NFA could be an effective marketing and
trading arm of our Filipino farmers and fishermen if managed properly and given
guidance,” Piñol, who now chairs the NFA Council (NFAC), told the
BusinessMirror on Thursday. Piñol added the marketing functions of the NFA
would even be more vital in a post-QR regime, when imports are expected to
flood
the domestic market.
the domestic market.
The Department of Agriculture (DA) chief echoed the sentiment of
NFA Administrator Jason L.Y. Aquino, who wanted to retain the function of the
food agency even after the rice QR is removed. In early April Aquino argued
that the NFA’s food-security role should even be strengthened under a post-rice
QR regime.
“Food security should never be left to the mercy of trade
regimes. Rice is the most basic food of Filipinos. In an era of boundless
influx of rice imports into the country, the government should be more vigilant
about maintaining adequate levels of the staple and to make it constantly
available and accessible to all at affordable prices,” he said in a statement.
“The NFA believes that there should always be a National Rice
Reserve even under a time of surplus because rice production is
never assured or certain at all times. This would also spare the country from
exposure to price volatility brought about by global political and economic
shifts,” he added.
Economic managers have been vocal in removing the commercial and
marketing functions of the NFA once the country’s rice importation is
tariffied, leaving it with its buffer-stocking role.
“The NFA should really just focus on ensuring adequate buffer
and regulation [of the market]. They should no longer be involved in buying
[and] trading,” Socioeconomic Planning Secretary Ernesto M. Pernia told the
BusinessMirror in February.
In the meantime, the government has put on the back burner the
restructuring of the NFA to focus on converting the QR into tariffs. National
Economic and Development Authority Assistant Secretary Mercedita Sombilla said
the government will restructure the NFA right after the law removing the QR on
rice is passed by Congress.
An NFA official told the BusinessMirror that removing the
commercial power of the grains agency while retaining its buffer-stocking role
is “problematic” as its stockpile could rot due to the removal of possible
disposal channels.
“Rice should be distributed every six months because it cannot
stay for so long as its shelf life is only limited. So, if we only have a
[buffer stocking] role, how can we sell or dispose our stocks by the sixth
month when we need to refresh our stockpile?” said the official, who requested
anonymity.
“So the stocks could rot. That’s why there is a need for other
schemes, such as selling, to dispose the stocks [especially if there is no
calamity],” the official added. The DA chief said he also wants to expand the
NFA’s functions to become the country’s trading agency for agricultural
commodities.
“My personal view is that the NFA has been perceived as a rice
agency, which isn’t the case. The World Trade Organization recognizes the NFA
as the only state trading agency of the Philippines,” Piñol said.
“This means that the NFA could trade on behalf of Filipino
farmers and fishermen, as farmers and fishermen are usually the ones organizing
themselves and finding the right market for their products,” he added.
Piñol said the NFA could even earn more revenues by functioning
as a state trading agency, similar to India’s Agricultural and Processed Food
Products Export Development Authority (APEDA) and Hanoi’s Vietnam Southern Food
Corp.
“Government help in consolidating the products of farmers and
representing them in global trade is minimal. Why can’t the NFA perform that
function?” he said.
“Maybe the NFA will earn more if it will act as a consolidator
and trading agency of Filipino farmers and fishermen who only need assistance
from the government,” Piñol added.
The agriculture chief said a technical working group would study
the feasibility of his proposal and make recommendations to the NFAC.
Support for
Farm Bill Splits Along Party Lines
WASHINGTON, DC
-- The U.S. House of Representatives Committee on Agriculture convened
yesterday to consider H.R. 2, The Agriculture and Nutrition Act of 2018.
The mark-up process for the proposed version of the 2018 Farm Bill lasted
nearly five hours, with the Committee approving 20 amendments. Of those
amendments, 18 are simply meant to clarify the intent of the original bill
language and were approved by a single vote, while the remaining two, that do
not affect rice, were considered and adopted by the panel individually.
Discussion surrounding most titles of the draft Farm Bill were positive, and there was a consensus that the bill should be a safeguard for producers and consumers alike against adverse conditions. The most contentious issue debated, that ultimately led to the bill passing on a straight party line vote, were the proposed changes to the nutrition title.
As reported last week, several provisions advocated for by USA Rice were included in this version of the bill: maintenance and enhancement of a strong farm safety net for producers, expansion to the definition of family in determining actively engaged participants on the farm, and reduction of burdensome paperwork and increased access to conservation programs for producers.
The bill also provides continued funding for the Market Access Program (MAP) and a much needed fix that would maintain funding for the Foreign Market Development (FMD) Program. If the fix does not become law or the 2014 Farm Bill is extended, then the FMD program will have no funding beginning October 1, the beginning of the federal government's fiscal year.
"USA Rice appreciates the bill's positive provisions included for the rice industry, and thanks Chairman Conaway, Ranking Member Peterson, and all members of the Committee for their hard work navigating this first step in the legislative process of bringing the 2018 Farm Bill to fruition," said Joe Mencer, Arkansas rice farmer and chairman of the USA Rice Farmers. "USA Rice stands at the ready in support of those provisions we have advocated for since the beginning of this process nearly three years ago."
The current Farm Bill expires on September 30. A vote on H.R. 2 in the full House could occur in early May. The Senate Agriculture Committee is expected to unveil its draft of the 2018 Farm Bill in the coming weeks.
Discussion surrounding most titles of the draft Farm Bill were positive, and there was a consensus that the bill should be a safeguard for producers and consumers alike against adverse conditions. The most contentious issue debated, that ultimately led to the bill passing on a straight party line vote, were the proposed changes to the nutrition title.
As reported last week, several provisions advocated for by USA Rice were included in this version of the bill: maintenance and enhancement of a strong farm safety net for producers, expansion to the definition of family in determining actively engaged participants on the farm, and reduction of burdensome paperwork and increased access to conservation programs for producers.
The bill also provides continued funding for the Market Access Program (MAP) and a much needed fix that would maintain funding for the Foreign Market Development (FMD) Program. If the fix does not become law or the 2014 Farm Bill is extended, then the FMD program will have no funding beginning October 1, the beginning of the federal government's fiscal year.
"USA Rice appreciates the bill's positive provisions included for the rice industry, and thanks Chairman Conaway, Ranking Member Peterson, and all members of the Committee for their hard work navigating this first step in the legislative process of bringing the 2018 Farm Bill to fruition," said Joe Mencer, Arkansas rice farmer and chairman of the USA Rice Farmers. "USA Rice stands at the ready in support of those provisions we have advocated for since the beginning of this process nearly three years ago."
The current Farm Bill expires on September 30. A vote on H.R. 2 in the full House could occur in early May. The Senate Agriculture Committee is expected to unveil its draft of the 2018 Farm Bill in the coming weeks.
Asia
Rice: India prices dip amid rupee decline, Thai rates soar on supply crunch
3 MIN READ
·
·
BENGALURU
(Reuters) - Rice export prices in India dropped for a second week on sluggish
demand and a weaker rupee, while Thai rates surged amid supply woes and fresh
deals buoyed Vietnamese rates.
Rates
for top exporter India’s 5 percent broken parboiled variety fell
by $2 to $417-$421 per tonne.
The
falling rupee has allowed exporters to sign deals at lower prices without
reducing net revenue, said an exporter based at Kakinada in the southern state
of Andhra Pradesh.
The
dollar rose to the highest in nearly seven months versus the rupee on Thursday,
pushing up prices in dollar terms.
Also
weighing on Indian exports was weak demand from Bangladesh, which had emerged
as a major importer since 2017 after floods depleted stocks. India had
accounted for over two-thirds of Bangladesh’s imports due to lower freight
charges.
Bangladesh
expects to harvest 19 million tonnes from its summer crop, nearly 6 percent
more than a year ago, said Mohammad Mohsin, director general of Department of
Agriculture Extension.
No
new deals are being struck as harvesting has started, while the government’s
stock levels have improved significantly, a trader said.
In
Thailand, 5 percent broken rice rates jumped to $445-454 per tonne free on
board (FOB) Bangkok, the highest since June 2017, from $437-438 last week.
“This
year off-season crops have been damaged by pests, so supply has
decreased. In some areas, it reduced production by half of what was
expected for April. Things should improve by the end of next month when new lot
of off-season crops are harvested,” a Bangkok-based trader said.
Thai
exporters were also stocking up amid speculation of new deals with Indonesia.
“If
the deal with Indonesian government does materialise, it should be for
200,000–300,000 tonnes,” the trader said, adding that fresh deals with the
Philippines could also happen in the coming weeks.
However,
another trader said the market was slightly overheated.
“I
think the prices are slightly inflated because it is based more on speculation
than actual fresh deals.”
Vietnam’s
5 percent broken rice prices rose for a fourth straight week, edging up to
$438-$440 a tonne from $435-$440 previously.
“Prices
remain high as Vietnam has recently been clinching new deals with Indonesia and
Philippines, while the winter-spring harvest has almost ended,” a Ho Chi Minh
City-based trader said.
The
National Food Authority of the Philippines earlier this week sent a request to
Vietnam’s Ministry of Industry and Trade to buy 250,000 tonnes, including
200,000 tonnes of 25 percent broken rice and 50,000 tonnes of 15 percent broken
rice, as per the request seen by Reuters.
The
procurement is part of the Philippines’s government-to-government purchasing
plan for 2018.
Asia
Rice: India prices dip amid rupee decline, Thai rates soar on supply crunch
3 MIN READ
·
·
BENGALURU
(Reuters) - Rice export prices in India dropped for a second week on sluggish
demand and a weaker rupee, while Thai rates surged amid supply woes and fresh
deals buoyed Vietnamese rates.
Rates
for top exporter India’s 5 percent broken parboiled variety fell
by $2 to $417-$421 per tonne.
The
falling rupee has allowed exporters to sign deals at lower prices without
reducing net revenue, said an exporter based at Kakinada in the southern state
of Andhra Pradesh.
The
dollar rose to the highest in nearly seven months versus the rupee on Thursday,
pushing up prices in dollar terms.
Also
weighing on Indian exports was weak demand from Bangladesh, which had emerged
as a major importer since 2017 after floods depleted stocks. India had
accounted for over two-thirds of Bangladesh’s imports due to lower freight
charges.
Bangladesh
expects to harvest 19 million tonnes from its summer crop, nearly 6 percent
more than a year ago, said Mohammad Mohsin, director general of Department of
Agriculture Extension.
No
new deals are being struck as harvesting has started, while the government’s
stock levels have improved significantly, a trader said.
In
Thailand, 5 percent broken rice rates jumped to $445-454 per tonne free on
board (FOB) Bangkok, the highest since June 2017, from $437-438 last week.
“This
year off-season crops have been damaged by pests, so supply has
decreased. In some areas, it reduced production by half of what was
expected for April. Things should improve by the end of next month when new lot
of off-season crops are harvested,” a Bangkok-based trader said.
Thai
exporters were also stocking up amid speculation of new deals with Indonesia.
“If
the deal with Indonesian government does materialise, it should be for
200,000–300,000 tonnes,” the trader said, adding that fresh deals with the
Philippines could also happen in the coming weeks.
However,
another trader said the market was slightly overheated.
“I
think the prices are slightly inflated because it is based more on speculation
than actual fresh deals.”
Vietnam’s
5 percent broken rice prices rose for a fourth straight week, edging up to
$438-$440 a tonne from $435-$440 previously.
“Prices
remain high as Vietnam has recently been clinching new deals with Indonesia and
Philippines, while the winter-spring harvest has almost ended,” a Ho Chi Minh
City-based trader said.
The
National Food Authority of the Philippines earlier this week sent a request to
Vietnam’s Ministry of Industry and Trade to buy 250,000 tonnes, including
200,000 tonnes of 25 percent broken rice and 50,000 tonnes of 15 percent broken
rice, as per the request seen by Reuters.
The
procurement is part of the Philippines’s government-to-government purchasing
plan for 2018.
No
concrete plans yet to execute what Duterte wants for rice sector
68
SHARES
By Madelaine B. Miraflor
When
it comes to rice situation, President Rodrigo Duterte wants to have things done
quickly. But officials from the government agencies tasked to handle the
situation admit it will take time to fix the problems surrounding the country’s
rice distribution system.
For
instance, Agriculture Secretary Emmanuel F. Piñol said it will take more than a
year before the National Food Authority (NFA) can actually maintain a 60-days
buffer stock or “fill its warehouses to the roof” — as what Duterte would have
wanted — to ensure that the state-run grains agency would no longer face the
same problem as it did recently.
It
was early this week when Duterte decided to return the jurisdiction over NFA,
Philippine Coconut Authority (PCA), and the Fertilizer and Pesticides Authority
(FPA) back to Department of Agriculture (DA).
It
all began when NFA recently saw its stocks fully depleted after failing to
procure rice from Filipino farmers as well as conduct importation — which was
purposely denied by NFA Council, led by Cabinet Secretary Leoncio Evasco.
Evasco
then continuously argued that the country doesn’t need to import, citing
abundance in supply.
The
DA, for several times, also dismissed that the country is experiencing some
sort of rice shortage, citing that production last year even grew by 9.36
percent to 19.3 million metric tons (MT), the highest rice production and
annual growth since 1999.
Eventually,
as NFA failed to intensify its local procurement and was largely banking on
importation, the public was left at the mercy of expensive commercial rice with
completely no cheaper government rice in the market.
Duterte
was then forced to enter the picture and ordered to immediately conduct the
importation of 250,000 MT of rice.
But
he also had other things in mind. At first, he said he wanted to abolish the
NFA Council, the highest policy-making body of NFA. Then he proposed the
transfer of NFA back to DA, which he already made final on Monday as he
presided over the the meeting of NFA Council for the first time.
He
also ordered Evasco to be removed from the NFA Council as well as called for
the reconstitution of the inter-agency body.
Amid
all this brouhaha, Duterte also ordered NFA to maintain buffer stocks good for
60 days.
“We
may not be able to achieve buffer stock right away, but we are hopeful that by
first quarter of 2020, we should already be at that level,” Piñol said during a
press conference at the Bureau of Plant Industry Office in San Andres, Manila
on Thursday