Friday, January 09, 2015

8th January (Thursday),2015 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

Oryza Afternoon Recap - Chicago Rough Rice Futures Close Higher but Far from Session High; Grains Pull Back as Traders Adjust ahead of Monday's USDA Report

Jan 07, 2015
Chicago rough rice futures for Mar delivery settled 4.5 cents per cwt (about $1 per ton) higher at $11.650 per cwt (about $257 per ton). Rough rice futures found stronger buying interest today, moving higher and trading up as much as 12.5 cents per cwt (about $3 per ton) during afternoon trading. Although the market closed off of the sessions high today’s uptick in buying is seen as a positive development for the short-term market outlook. The other grains mostly retraced today, with beans seen as the only component of the complex to pull off a slight gain; Soybeans closed about 0.05% higher at $10.5625 per bushel; wheat finished about 2.1% lower at $5.7950 per bushel, and corn finished the day about 2.2% lower at $3.9625 per bushel.
U.S. stocks jumped on Wednesday, with the S&P 500 rebounding from a five-session dive, after positive data on the labor market and as investors mulled minutes from the Federal Reserve. Private employers added 241,000 jobs to their payrolls in December, surpassing projections of a 226,000 gain, according to the ADP National Employment report. The figures come two days before the U.S. Labor Department's nonfarm payrolls report, with economists surveyed by Reuters looking for employment growth of 240,000 last month and a jobless rate of 5.7%. After a 206-point leap, the Dow Jones Industrial Average was lately up 187.60 points, or 1.1%, to 17,559.24. The S&P 500 added 22.71 points, or 1.1%, to 2,025.32, with health care the strongest performer and all but one of its 10 major sectors rising. The Nasdaq gained 51.28 points, or 1.1%, to 4,644.02. Gold is trading about 0.7% lower, crude oil is seen trading about 0.5% higher, and the U.S. dollar is seen trading about 0.6% higher at about  1:00pm Chicago time.
Tuesday, there were 228 contracts traded, down from 590 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday increased by 33 contracts to 8,857.
Global Rice Quotes
January 7th, 2015

Long grain white rice - high quality
Thailand 100% B grade          420-430           ↔
Vietnam 5% broken    375-385           ↔
India 5% broken         385-395           ↔
Pakistan 5% broken    375-385           ↔
Cambodia 5% broken             450-460           ↔
U.S. 4% broken           510-520           ↔
Uruguay 5% broken    595-605           ↔
Argentina 5% broken 595-605           ↔

Long grain white rice - low quality
Thailand 25% broken NQ      ↔
Vietnam 25% broken 345-355           ↔
Pakistan 25% broken 325-335           ↓
Cambodia 25% broken           430-440           ↔
India 25% broken       350-360           ↔
U.S. 15% broken         495-505           ↔

Long grain parboiled rice
Thailand parboiled 100% stxd            405-415           ↔
Pakistan parboiled 5% broken stxd    405-415           ↔
India parboiled 5% broken stxd         375-385           ↔
U.S. parboiled 4% broken       580-590           ↔
Brazil parboiled 5% broken    570-580           ↔
Uruguay parboiled 5% broken            NQ      ↔

Long grain fragrant rice
Thailand Hommali 92%          895-905           ↔
Vietnam Jasmine         510-520           ↔
India basmati 2% broken        NQ      ↔
Pakistan basmati 2% broken   NQ      ↔
Cambodia Phka Mails             805-815           ↔

Brokens
Thailand A1 Super      330-340           ↔
Vietnam 100% broken            325-335           ↔
Pakistan 100% broken stxd    300-310           ↔
Cambodia A1 Super   355-365           ↔
India 100% broken stxd         295-305           ↔
Egypt medium grain brokens NQ      ↔
U.S. pet food 390-400           ↔
Brazil half grain          NQ      ↔
All prices USD per ton, FOB vessel, oryza.com
Chinese Hongilian-Type Hybrid Rice Varieties Can Improve Yields in Asia and Africa

 Jan 07, 2015

Description: http://oryza.com/sites/default/files/field/image/150107chinaricefield_0.jpgThe Hongilian-type hybrid rice varieties, developed by Zhu Yingguo of the Wuhan University Hybrid Rice Research Project, are the most sought hybrid rice varieties in South and Southeast Asian countries such as Pakistan, Bangladesh, Myanmar, Indonesia, Philippines and African countries for their ability to provide high yields as well and their wide adaptability to new growing conditions, according to a news release by the Wuhan University website.The varieties are relatively new in China but have been gaining wide acceptance in foreign countries. They are an environment friendly rice varieties and adjust well to the tropical climate and land conditions quickly compared to local hybrid rice varieties in respective countries and require less fertilizer. High yield, grain quality and resistance to pests are other advantages associated with the Hongilian-type hybrid rice varieties, according to the website. A Hongilian-type hybrid rice variety was recognized as the "Chinese Super Hybrid Rice" in 2009.
"The agricultural sectors of Indonesia, Philippines, Pakistan and other countries have expressed the hope to further deepen cooperation with us; and they also wanted to carry out cooperation in terms of scientific research, application and promotion, personnel training and other aspects," Zhu Yingguo was quoted as saying.The varieties can be helpful in ensuring food security in Southeast Asia and Africa, according to experts.According to China's Agriculture Ministry, average yields from hybrid rice varieties have been consistently growing since 2000. According to the Ministry, the yield of hybrid rice per hectare in China crossed 10.5 hectares in 2000, 12 tons in 2005 and 13.5 tons in 2011 respectively. It reached around 14.4 tons in 2012. A particular hybrid rice variety called "Y liangyou 900" has produced a yield of about 1,004.5 kilograms per mu (around 15 tons per hectare) in 2014, according to local sources

Mexico to Impose Import Tariffs on Paddy and Rice from January 9, 2015

Jan 07, 2015
Description: Description: http://oryza.com/sites/default/files/field/image/150107mexicanrice.jpgMexico, which announced its decision to reinstate import tariffs on paddy and rice, in December 2014 will start imposing tariffs with effect from January 9, 2014, according to local sources. The North American nation has imposed a 9% tariff on imported paddy rice and a 20% tariff husked, long grain and other imported rice from all the countries that do not have free trade agreements (FTAs) with it.
The Mexican government discontinued tariffs on paddy and rice imports in 2008 to reduce rice prices in the country. However, it has decided to reinstate import tariffs as Mexico's paddy rice production declined by about 50%, while domestic consumption has increased about 12%. Its decision was published in a decree that was published in the Diario Official (Mexico's Federal Register) on December 10, 2014. According to the Decree, reinstatement of import tariffs on paddy and rice is necessary to promote production, processing, and marketing of domestic rice and thus strengthen the overall competitiveness of Mexico’s rice industry,
Mexico produces only 17% of its annual consumption needs of around 890,000 tons and imports the rest. USDA estimates Mexico to import around 775,000 tons of rice, basis milled in 2014-15 (October - September), up about 11% from an estimated 700,000 tons in 2013-14.

Experts Call for National Rice Brand to Enhance Value of Vietnamese Rice

Jan 07, 2015
Description: Description: http://oryza.com/sites/default/files/field/image/150107vietnamrice_0.jpgExperts have urged the Vietnam government to develop a national brand for Vietnamese rice to increase its competitiveness in the world rice market, according to local sources.Though Vietnam is the world's second largest exporter of rice in 2012 and 2013, experts say the quality and competitive edge of Vietnamese remains low compared to Thailand and India and due to this Vietnam's rice sector has not been able to attract foreign investments. The government has been trying to invite several foreign investors to increase the quality and quantity of rice production in the country but their efforts have not yielded sufficient results.
The Southern Food Corporation (Vinafood I) Director General noted that Vietnamese rice has not been able to attract high-end foreign customers due to lack f high-quality rice varieties. High post-harvest losses, poor regional connectivity and lack of proper collaboration within the rice value chain are main reasons for underdevelopment of the country's rice sector, he said.
Researchers from the Mekong Delta Development Research Institute (MDDRI) noted that earnings of Vietnamese rice farmers are very low due to low prices of rice. The Head of the MDDRI said the governemnt should study the country's rice value chain in detail and suggest improvements in production, post-harvest treatment, quality, infrastructure and distribution. Thus eventually a standard/brand could be developed for Vietnamese rice.
He also noted that unless incomes of farmers are improved, they are most likely to give up rice farming. He added that the government needs to focus on devising proper policies to increase rice production and incomes of farmers keeping in view the long-term food security of the country.
Vietnam exported about 6.036 million tons of rice in January 1 - Dec 26, 2014, down about 10% from about 6.71 million tons of rice exported in full year of 2013, according to data from the Vietnam Food Association (VFA).

Indian North Eastern State Mizoram to Import 200,000 Tons of Rice from Myanmar

Jan 07, 2015
Description: Description: http://oryza.com/sites/default/files/field/image/150107india_0.jpgIndia's North Eastern state of Mizoram has decided to import around 200,000 tons of rice from Myanmar, according to local sources.The state's Food and Civil Supplies Secretary told local sources that the bids submitted by the Myanmar importers were within the limits set by the government without specifying the exact amounts. However, he noted that the bids were lower than the earlier bids of about Rs.5,500 per quintal (around $869 per ton) against the government's target of about $400 per ton when the Food Corporation of India (FCI) invited tenders in October 2014.
Therefore, the state government has decided to purchase rice from the private sector, including from neighboring countries, to overcome shortages due to transportation disruptions from the proposed railway conversion works on a 220-kilometer line between Assam and Tripura, according to official sources. Earlier, the FCI officials said transporting rice within India would prove costlier than importing from Myanmar.Imports if materialized would help the state to create buffer stock to ensure uninterruptable supplies. Currently, Mizoram has around 25,939 tons of rice in stocks and there are no immediate supply issues, according to FCI sources.

Oryza Overnight Recap - Chicago Rough Rice Futures Remain Flat as Market Searches for Direction

Jan 07, 2015
Chicago rough rice futures for Mar delivery were paused 2 cents per cwt (about $0.44 per ton) lower at $11.585 per cwt (about $255 per ton) during early floor trading in Chicago. The other grains are seen trading mixed: soybeans are currently seen 0.2% higher, wheat is listed about 0.1% lower and corn is currently noted about 0.3% lower.U.S. stock futures held sharp gains on Wednesday after data had private-sector job creation increasing in December. The December ADP unemployment report comes ahead of the nonfarm payrolls on Friday.
On Wednesday afternoon, minutes from the Federal Reserve's mid-December meeting will be released, and could offer hints as to the timing of interest-rate hikes ahead. November's trade deficit could have narrowed on the back of collapsing oil prices, forecast Ashworth. Oil prices continued to fall on Wednesday, with the price of Brent crude temporarily dipping below $50 per barrel, for the first time since mid-2009. Outside the U.S., official data showed that falling energy prices pushed the euro zone into deflation, with prices falling 0.2% year-on-year in December. U.S. stock index futures are seen trading about 0.8% higher. Gold is currently trading about 0.6% lower, crude oil is seen trading about 0.6% higher,  and the U.S. dollar is currently trading about 0.6% higher at 10:10am Chicago time.

Pakistan Rice Sellers Lower Some of Their Quotes Today; Other Asia Rice Quotes Unchanged

Jan 07, 2015
Pakistan rice sellers lowered their quotes for 25% broken rice by about $5 per ton to around $325 - $335 per ton today. Other Asia rice sellers kept their quotes unchanged today.
5% Broken Rice
Thailand 5% rice is quoted at around $405 - $415 per ton, about $30 per ton premium on Vietnam 5% rice shown at around $375 - $385 per ton. India 5% rice is quoted at around $385 - $395 per ton, about $10 per ton premium on Pakistan 5% rice quoted at around $375 - $385 per ton.
25% Broken Rice 
Thailand 25% rice was last quoted at around $350 - $360 per ton, about $5 per ton premium on Vietnam 25% rice shown at around $345 - $355 per ton. India 25% rice is quoted at around $350 - $360, about $25 per ton premium on Pakistan 25% rice quoted at around $325 - $335 per ton, down about $5 per ton from yesterday.
Parboiled Rice
Thailand parboiled rice is quoted at around $405 - $415 per ton. India parboiled rice is quoted at around $375 - $385 per ton, about $30 per ton discount to Pakistan parboiled rice quoted at around $405 - $415 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is quoted at around $330 - $340 per ton, about $5 per ton premium on Vietnam 100% broken rice shown at around $325 - $335 per ton. India's 100% broken rice is shown at around $295 - $305 per ton,  about $5 per ton discount to Pakistan broken sortexed rice quoted at around $300 - $310 per ton.

Vietnam Cuts Export Floor Prices of Higher and Medium Quality Rice Varieties to Meet Philippine Demand

Jan 07, 2015
Vietnam has cut export floor prices (minimum export prices) of higher quality and medium quality rice such as 5%, 10% and 15% broken rice varieties to around $385 per ton, $375 per ton and $365 per ton respectively to meet the Philippine demand of about 187,000 tons, according to Reuters. All prices are on Free-on-Board (FOB) basis.The floor price of 5% broken rice was reduced about 6% from $410 per ton, according to data from the Vietnam Food Authority (VFA).

In December 2014, the Philippines National Food Authority allowed the private sector to import another 187,000 tons of rice under the minimum access volume (MAV) program and the rice is to be delivered before February 28, 2015.Vietnam had cut the export floor price of lower quality 25% broken rice variety to $380 per ton from about $410 per ton in November 2014.Vietnam rice export prices have declined over the last week due to higher supplies from winter-spring harvest and a sluggish demand from buyers. Export prices of 5% broken rice currently stand at $370 per ton, down about 4% from about $386 per ton in the last week of December 2014. On the other hand, export prices of 25% broken rice currently stand at $350 per ton, down about 1.4% from about $355 per ton in the last week of December 2014.



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7th January (Wednesday),2015 Daily Global Rice E-Newsletter by Riceplus Magazine

Promotion of exports to Libya & Malta: Pakistani envoy urges setting up of commercial body



January 07, 2015
RECORDER REPORT
Lieutenant General Javed Zia (rted), Ambassador of Pakistan in Libya and Malta, has urged the establishment of a commercial organisation for the promotion of Pakistani exports to Libya and Malta and other surrounding countries. Addressing the rice exporters during a luncheon meeting held in his honour by Rice Exporters Association of Pakistan (REAP) at REAP House, Karachi here on Tuesday, he said that Libya and Malta could play a very supportive role for the increase in Pakistan's exports, however, there was a need to form a commercial/trade organisation for the promotion of exports to Libya and Malta. 
"We believe a commercial organization can play a vital role in the promotion of Pakistani export as due to a unique location, Malta may become the trade hub for Pakistani exporters and they can get access to surrounding European countries," he added. Zia informed that there were many opportunities for Pakistani exporters in Libya and with some efforts Pakistani traders could dominate in these developing markets. He offered rice exporters to set up a Display Centre in Pakistan Embassy in Libya free of cost to promote Pakistani products particularly rice. Whereas, in Malta with a very minimum investment, exporters could increase the exports of Pakistani products, such as cotton, rice, textile, construction and other food items. "Libya has been declared in war status and Pakistani exporters can take the advantage of the current circumstances by exporting cement and other construction-related items.
" He also appreciated the steps of the government of Pakistan for the evacuation of Pakistanis in Libya during the war and for providing some Rs 400 million for this purpose. Earlier, Rafique Suleman, Chairman REAP, briefed the ambassador that although there were multiple opportunities in Libya and Malta, Pakistani exporters of rice could not have fully availed them. "Pakistan exported about 270 metric tons amounting $312,517 rice during last fiscal year (FY14). He further informed that Kenya and China had been emerged as the largest importers of Pakistani Rice, as Kenya has imported 463,441 metric tons amounting to $176.875 million and China has imported 353,675 metric tons amounting to $128.068 million," he said and added that China and Kenya mainly imports Iri-6 from Pakistan. 
He hoped that with mutual efforts and appropriate measures Pakistan could export rice to Libya and Malta. On the occasion, Rafique announced that REAP would send a high profile trade delegation of REAP to Libya and Malta to find the new export-oriented opportunities in both countries. Lieutenant General Javed Zia (R) assured of his full support and co-operation in making the delegation fruitful and successful for Pakistani trade. Chela Ram Kewlani, former chairman REAP, Jawed Ali Ghori, Usman Shaikh, Khalid Paracha, Fuwad Garib, Muhammad Amjad, Bashir and others were also present on the occasion. 

Sugar millers, growers at loggerhead

January 08, 2015 
 KARACHI: A group of sugar millers and growers are at loggerhead over the pricing of sugarcane despite the fact the Supreme Court and high courts of various provinces have validated prices set by the provincial governments.

The sugar price has been set at Rs 182 per tonne in Sindh and Rs 182 in Punjab and Khyber Pakhtunkhwa, but a large number of sugar millers are reluctant to purchase sugarcane from farmers at these rates. Sindh Chamber of Agriculture President Dr Syed Nadeem Qamar said the sugarcane crop is being wasted due to advertent delays by the millers that will cost farmers billions of rupees. Speaking on a TV show "The Market Show" on Wednesday, he said the delay in crushing of sugarcane could affect the crop at large, whereas the season of wheat sowing has began.

Description: — Reuters/fileDescription: http://www.dailytimes.com.pk/print_images/456/2015-01-08/sugar-millers-growers-at-loggerhead-1420660699-6237.jpgReplying to the queries of anchor Ali Nasir, he said the provincial government raiused the sugarcane prices as per annual increment of Rs 10 per tonne after evaluation of farmers' input cost, but millers insist on reducing its price without any justification. He added that sugarcane has been cultivated at times when the diesel prices were on higher side, whereas input cost were also high, but millers were demanding sugarcane purchase price of Rs 155 per tonne, which is a bad deal for farmers. Initially, sugar millers had taken a stay against prices set by the government in different high courts, but their appeals were rejected. Later, they moved the Supreme Court which endorsed the verdict of higher courts.

Sindh Enterprises Development Fund Managing Director Mehboobul Haq said farmers have no place to market and stock their products. "The market needs buyers and growers basically, hence simple mechanism is being developed in which farmers and buyers could meet and sign deals without any middleman," he said, adding that private sector is reluctant towards expansion, but keen for high bottom-line within controlled expenses, which is not possible in long-term, as investment is needed for higher and continuous returns.
There are various market mechanisms developed in international markets to benefit growers and farmers through cooperative business model and the provincial government is seriously working to replicate different models with customised needs of the local farmers and producers. He added that a country's food security depends on agriculture sector, and it has a strategic position in the world.It is widely believed that future wars in economic and political fronts will be fought over water and agriculture. Pakistan has a significant agriculture produce, special cash crops, fruits and vegetables, with significant location base near Middle East countries, but value addition of agri-products is very limited.


He added that Sindh Enterprise Development Fund is an initiative for providing institutional framework towards promotion of value addition, however, it is a gradual process not an overnight phenomenon. "We have upgraded rice mills through BMR and the result and inevitable rice millers were reluctant initially but they realized to upgrade their units which could be seen now as benefits and high pricing.

We need to select the cluster and target them to develop through planning and policies. We are focusing on those clusters that are being deprived of investments, but will get immediate response in terms of return such as horticulture and forticulture."

 

Source with thanks: http://www.dailytimes.com.pk/business/08-Jan-2015/sugar-millers-growers-at-loggerhead

 

Wheat per acre yield declines, rice’s increases
Shahid Iqbal
KARACHI: Despite tall claims about better agriculture productivity, the country’s main crop wheat has shown a declining trend in per acre yield during the last four years.The State Bank’s latest Statistical Bulletin issued on Monday showed the per acre yield achieved in 2010 could not be achieved again in the next three years.The per acre yield of wheat in 2010-11 was 2,933kg while in 2013-14 it dropped to 2,797kg per acre.However, the area for cultivation of wheat increased during the last four years from 8.901 million acres in 2010-11 to 9.039m acres in 2013-14.Wheat is the biggest crop and the staple food for many millions but neither the government nor the private sector seems to have made significant efforts to improve the low yield.

A significant development is that private banks have started disbursing credit in this sector.The State Bank has set Rs500 billion target for the agriculture loans for 2014-15. The banks disbursed Rs98bn during first quarter (July-Sept) of this fiscal year compared to Rs70.8bn doled out in the corresponding period last year, showing a growth of 38 per cent.While yield for wheat dropped, other major crops showed improvement during the same period.The rice per acre yield was much higher than the three years earlier.
 It went up to 2,437kg in 2013-14 from 2,039kg in 2010-11, a 20pc increase.The massive production has created a rice glut in the local market as the exporters could not benefit from high yielding rice crop.The area under cultivation of rice also increased during the period from 2,365 acres to 2,789 acres in 2013-14.Cotton production also increased from 725kg per acre to 774kg per acre during the four years. Yield per acre of maize increased to 4,053kg from 3,806kg per acre during this period.
Published in Dawn, January 7th, 2015
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5 items identified for export to Russia

Mubarak Zeb Khan

Description: — Dawn/fileISLAMABAD: The Minis¬try of Commerce has evolved a strategy for a share in the agriculture and food market of the Russian federation and in this regard five products including citrus varieties, potato, rice, dairy products and tobacco have been identified for exports.Talking to Dawn an official of the ministry said a business delegation of leading food exporters will visit Russia by end of January.The delegation will interact with Russian buyers to identify the routes and mode of payment during the period of US trade sactions on Russia.

Bilateral trade between the two countries stood at $419.34 million in 2013-14 as against $484.47m in the previous year, reflecting a decline of $65.13m or 13.45 per cent. The decline is mainly driven by falling Pakistan’s exports to Russia, which fell by 10.36pc during the period under review.Currently, Pakistan’s major export items to Russia include woven cotton fabrics, fruit and fruit preparations, synthetic fabrics, rice all sorts, articles of apparel other than textile material, vegetables, medical and surgical instruments.

According to a ministry document, Russian food and agriculture imports stood at $43 billion last year. The major imports include beef products, dairy products, citrus, tomatoes, potatoes, tobacco, fish, apples, pears etc.Pakistan’s average exports of citrus to Russia stood at $41.779m in the year 2013-14, a 2.480pc share in the total imports of Russia from the global imports of citrus which stood at $1.60bn.

“Russians have taste for seedless varieties of citrus,” the official said. He added the demand for Pakistani citrus is on the rise but it needs proper marketing and facilitation to exporters.Major exporters of citrus to Russia include Turkey ($431m) and Spain ($103m). The rest of the exports are shared by Morocco, Egypt, South Africa and China.The second potential item is potato. Its exports to Russia stood at $16.182m, a share of 6.933pc in the Russian total imports of potatoes. There is a great potential in export of potatoes to Russia once Pakistan improves its quarantine and quality standards.

The leading exporters of potatoes to Russia are Egypt ($233 million), the Netherlands ($27 million). Other exporters include China and Azerbaijan.Rice is another product, of which Pakistan is the 4th largest exporters to the world. Russia has imposed ban on imports of rice from Pakistan in the year 2011 but it was lifted in April 2012. This decision has led to a loss in share of Pakistan’s exports of rice to Russia and diverted the trade to India.

The official said that exporters will be facilitated to enhance rice exports to Russia. Currently, Vietnam is the major exporter of rice to Russia followed by Thailand and Myanmar.Russian imports of dairy products stood at $4.3bn, alone $3bn from the Euro¬pean countries. Russia im¬¬p¬orted $2.2bn cheese and curd.

“Pakistan is one of the leading milk producers in the world and has a fair chance of grabbing value added exports of dairy products,” the official added.Pakistan’s export of tobacco stood at $1.380m, which is 0.119pc share of the Russian total imports. The share in frozen vegetables exports is 1.020pc ($1.06m) of the total Russian global imports.

Published in Dawn, January 7th, 2015

Source with thanks: http://www.dawn.com/news/1155375/5-items-identified-for-export-to-russia

 

China extends permits on GM rice and corn research


Stephen Chen | January 7, 2015 | South China Morning Post
The government has renewed permits allowing scientists to grow three varieties of genetically modified rice and corn in China, more than three months after they had expired, suggesting the technology has the continued backing of the authorities.Some scientists had feared that the Ministry of Agriculture may halt research work on the foods.Anecdotal evidence suggests that some people in China are wary about the safety of GM crops, amid a succession of food safety scandals on the mainland.
GM rice cannot be sold as food in China, with the government saying it has to be sure that new strains are safe, but the country already imports huge amounts of genetically modified soya beans, mainly from the United States.The permits issued by the Ministry of Agriculture allow two scientific research groups to produce two types of pest-resistant rice and a type of high-yield corn for five years, according to a report by the Communist Party mouthpiece People’s Daily.
The fresh permits allow the scientists to grow the crops in open fields and gather data about potentially releasing the strains to farmers in the future.

Agriculture remains our greatest hope

When the International Rice Research Institute (IRRI) was set up in Los Banos, Laguna, in 1960, with the support of the Ford Foundation, the Rockefeller Foundation, and the Philippine government, it proceeded to undertake research that led to the development of new and improved rice varieties and of rice crop management techniques and practices.Many of our neighbors in Southeast Asia have benefitted from this research. Thailand and Vietnam today produce rice surpluses which they export to the world. It is a bit of irony that the Philippines, where the IRRI did all its research on a 250-hectare experimental farm at Los Banos, is today the biggest importer of Thai and Vietnamese rice.Filipino scientists and researchers are known the world over.

The latest to be recognized was Dr. William Dollente Dar, who was honored last month for his work at the International Crop Research Institute for the Semi-Arid Tropics (ICRISAT) in India where he served for 15 years. He was cited for redirecting the institute’s emphasis from research for the sake of researching, to research that would actually benefit farmers. He saw to it that the institute’s studies on drought-resistant crops – peas, sorghum, millet, etc. – reached small farmers.Dr. Dar introduced four pillars of agriculture that he developed at ICRISAT – namely, including farmers as part of the process of development, science-based agriculture, resilient agriculture that responds to climate change, and a market orientation focused on making farming a profitable business.

 Dar served as Secretary of Agriculture in President Joseph Estrada’s short-lived administration in 1998 before moving on to ICRISAT in 1999.Agricultural research continues today in the Philippines and around the world. Among its latest achievements is the development of flood-resistant rice varieties. This could be the answer to the repeated losses of our rice farmers in Northern Luzon who periodically lose their harvests when a typhoon brings rains that flood their fields.Agriculture remains the greatest hope of our country’s economy and people. We may develop our industries and our services sector; we may provide jobs to our young people in tourism and in business outsourcing.

But the Philippines is a primarily agricultural country and the great majority of our people live in the rural areas.We have the land and the rivers and rains to make it fertile. And we have the scientists and researchers and capable administrators, such as Dr. Dar. With these resources, we should focus on agriculture as the center of our anti-poverty, our job-creation, and our over-all national economic development program.

DA: WV likely to surpass
2.1 million MT palay target
ILOILO CITY -– The Department of Agriculture here is optimistic that Western Visayas could surpass its palay production target in 2014 pegged at 2.1 million metric tons amid challenges caused by climate change.Larry Nacionales, DA regional executive director (RED) for Western Visayas, disclosed that data on rice production is now being finalized but initially it is already more than two million metric tons.
He explained that rice planting was affected by the dry season from June to July 2014.Supposedly, the harvest period will be in September but due to the weather condition, the planting was moved to the November to December period and is due for harvest first quarter of 2015.This is similar with the production in 2013 when the region experienced a good harvest from January to June but there was low production during the wet season after typhoons affected maturing and standing crops.“Nonetheless, we would still exceed two million metric tons,” he said.
He added that the region still is one of the highest nationwide in terms of rice-sufficiency as he cited that the sufficiency level may reach up to 117 percent.Western Visayas shares around 12 percent of the national total production.“If the production is good this wet season, we hope to achieve this year's target of 2.2 million metric tons,” he added.Meanwhile, Nacionales said that other commodities of the region are performing well such as corn and mango.Nationwide, Western Visayas ranked first in carabao production and third in swine.Banana was affected by super typhoon Yolanda but Nacionales hoped that it could recover this year. *PNA

Vietnam sets rice export prices for Philippine demand

Reuters
Posted at 01/07/2015 5:59 PM | Updated as of 01/07/2015 6:13 PM
HANOI - Vietnam, the world's third-largest rice exporter, has set export prices in preparation to meet an import demand of 187,000 tonnes by Philippine private traders, which may lead to lower price levels in early 2015, traders said on Wednesday.Last month, the Philippines' state grains procurement agency allowed private traders to import 187,000 tonnes of rice and said shipments must arrive on or before Feb. 28.Exporters must sell the 5-percent broken rice to Philippine importers at $385 a tonne, free-on-board Saigon Port, industry body the Vietnam Food Association said in a Dec. 31 statement seen by Reuters on Wednesday.The floors are $375 a tonne for the 10-percent broken grade and $365 a tonne for the 15-percent broken grade, the statement said. All the prices are valid between Jan. 1-31.Previously, the association set the export price floor for the 25-percent broken variety at $380 a tonne as of Nov. 25, 2014.
"The export prices for the Philippines now are lower than the previous floor, so it could be the new benchmark for other orders," said a Vietnamese trader in Ho Chi Minh City.The 5-percent broken rice was quoted this week at $380-$390 a tonne, FOB basis, widening from $385-$390 per tonne quoted before the New Year holidays, while buyers were still absent and stocks remained low, traders said.Vietnam could export 7 million tonnes to 7.5 million tonnes of rice this year, mainly to China and Southeast Asian countries, after shipping around 7.5 million tonnes in 2014, a state-run online news site said, citing industry targets.
The Philippines, Vietnam's second-biggest rice buyer in 2014 after China, is expected to import between 1.5 million and 2 million tonnes from Vietnam this year, the Customs Department news site said, citing Vietnam Food Association projections.

50 DPCs opened for procuring paddy


District Collector S. Palanisamy inaugurating the direct purchase centre for paddy at Pattamangalam village in Nagapattinam district on Monday.— Photo: DIPR

Five lakh tonnes fixed as procurement target for Nagapattinam district

The Tamil Nadu Civil Supplies Corporation has opened 50 direct purchase centres (DPCs) for procuring paddy from farmers during the samba and thaladi harvest season.Disclosing this after inaugurating the procurement for the Kharif season at a DPC at Pattamangalam village in Keezhvelur taluk, Collector S.Palanisamy said that initially 15 DPCs have been opened in Nagapattinam division and 35 in Mayiladuthurai division.More DPCs would be opened depending on the requirement. If there were more than 300 bags at a single place, a mobile DPC would visit the spot to procure the paddy from the farmers, he said.
Description: http://economictimes.indiatimes.com/photo/45774157.cmsPaddy has been raised on 1.02 lakh hectares during the samba season in the district. A procurement target of five lakh tonnes has been fixed for the district.Farmers would get Rs.1,410 a quintal for common variety and Rs.1,470 a quintal for fine variety at the DPCs. TNCSC employees have been instructed to ensure that farmers did not face any problem in selling their produce at the DPCs. Adequate cash and stock of gunny bags have been kept ready.Mr.Palanisamy instructed officials to ensure that farmers were not made to wait for long to sell their produce at the DPCs.Nagai Mali, MLA, M.Radhakrishnan, Senior Regional Manager, TNCSC, and other officials were present.

Iran ban, Iraq duty hike to take a toll on rice exporters

Sutanuka Ghosal, ET Bureau Jan 6, 2015, 12.35PM IST
KOLKATA: India's rice exporters may end the current fiscal on a damp note as Iraq has doubled the import duty to 40%, while Iran has clamped an outright ban at a time when price realisation has slipped 15-20% in overseas markets.A senior official of All India Rice Exporters' Association(AIREA) told ET that traders are currently shipping only rice consignments with permits of last year to Iran. "We are hoping that Iran will lift the ban. We are planning to send a delegation to Iran in early February to sort out the issue," said the official, requesting not to be named.The official added that the sudden increase in import duty by Iraq has come as a major blow and it is bound to impact exports to the country.

According to an estimate by exporters, basmati shipments are likely to come down to 35 lakh tonne from 37 lakh tonne in the previous year.Iran has barred rice from other countries as its local crop is reported to be good this year and is set to arrive in the market there.The country imported over 12.5 lakh tonne of rice during April-July 2014, compared with 14.5 lakh tonnes in the year-ago period.In the past two years, Iran has bought over 2.5 million tonne of basmati rice from India.The average price realisation has declined to $800-1,100 per tonne from $1,0001,300 per tonne last year.
Exports of basmati rice in the first seven months of the current fiscal declined over 8% to 19.36 lakh tonne from 21.13 lakh tonnes in the year-ago period. However, exports of non-basmati rice between April and October 2014 stayed almost the same as in the previous year, at about 4.2 lakh tonne.The lacklustre export demand of basmati rice has pushed down prices in the domestic market as well, with farmers getting Rs 3,200 per quintal for Pusa 1121 crop, compared with Rs 4,100 last year.Retail prices of basmati rice may fall further in the domestic market if exports slump, said Bal Krishna Mittal, managing director of Gurdaspur Overseas, which deals in basmati rice.Output of basmati rice in the kharif, or summer, season in 2014 was robust at about 81 lakh tonnes, up from 66 lakh tonnes in the previous year.
Source with thanks :The Economic Times India

I mark for basmati delayed as MP cos, farmers oppose APEDA

Apeda representatives said GI registration should be seen from a "national interest" perspective, as Pakistan also is claiming rights over Basmati
Gireesh Babu & T E Narasimhan  |  Chennai  
January 7, 2015 Last Updated at 22:32 IST

While the Agriculture and Processed Food Products Export Development Agency (Apeda) is in a hurry to register the geographical indication (GI) for Basmati rice, the agency’s legal battles with Madhya Pradesh-based companies and farmers are delaying the process. Basmati Growers Association of Pakistan has also challenged Apeda’s move.Apeda representatives said the GI registration should be seen from a “national interest” perspective, as Pakistan is also claiming rights over Basmati.

Apeda and the Madhya Pradesh government and growers have been locked in a dispute on whether the Basmati grown in these parts has the characteristics of original Basmati grown in Uttarakhand, claimed for inclusion in GI registry.The agency has challenged the GI Registry order, asking them to amend the application for registration to include the uncovered area, including certain areas in Madhya Pradesh, before the Intellectual Property Appellate Board (IPAB).The legal battle is on at IPAB, in Chennai. On Monday, when various appeals and petitions related to the GI registration had come up, a new petition was filed by MP-based New Darpan Social Welfare Society to implead in the case.

During the hearing, IPAB chairman K N Basha and technical member (trade marks) Sanjeev Kumar Chaswal posted the matter for hearing to the last week of February . The Board has heard six of the nine applications, related to the matter and need to hear the Basmati Growers Association from Pakistan, along with another application from Daawat Foods, a leading company in the business.A K Gupta, director of Apeda, said, “We must have the GI for Basmati before others start claiming and it is important from the global perceptive as the matter is of national interest.”  He added if everybody starts claiming and growing, it would lead to oversupply. This will have consequences on farmers.
Description: http://bsmedia.business-standard.com/_media/bs/img/article/2014-05/21/full/1400690867-0792.jpg
Apeda is defending the GI of Basmati grown in two districts of Jammu and Kashmir, undivided Punjab, Haryana, Himachal Pradesh, western Uttar Pradesh and Delhi.“We are in a bit of hurry to register the GI in India,” the counsel for Apeda told IPAB on Monday.Experts said if Apeda includes MP, other states will claim it, too. This would make the GI weak. The Pakistani claim says: “Basmati is a name for a slender, aromatic and long-grain variety of rice grown in the specific geographical area at the foothills of the Himalayas in Pakistan.”Three years ago, it was proposed that both India and Pakistan apply for a GI but for various political and legal reasons, the plan was dropped.


Source with thanks: The Business Standard

Rice may become first crop in cap-and-trade program


Posted: Wednesday, January 7, 2015 12:08 am
By Andrew Creasey/ acreasey@appealdemocrat.com
Rice could soon become the first crop in California's cap-and-trade program, but it is unclear if the program provides enough incentives to motivate farmers to change their growing practices.In a December meeting, the California Air Resources Board directed staff to begin the process for including rice in the cap-and-trade program, which is part of a statewide program to reduce greenhouse gas emissions to 1990 levels by 2020.

 The idea is to provide economic incentives for major investment in cleaner technologies and conservation practices. It's a key element of California's greenhouse gas emissions reduction strategy and a component of the state's ba tle against climate change, according to a staff report.The program would allow rice farmers to sell carbon emission allowances, which they can accrue by changing their growing practices to reduce the number of days rice fields are flooded during the growing season.

The proposed voluntary program offers two ways for farmers to receive carbon credit.The first is to switch from wet seeding, when farmers plant seeds into already-flooded fields, to dry seeding, where farmers drill or scatter into a dry or moist seedbed. The practice could result in an additional seven to 10 non-flooded days during the cultivation season, according to the CARB staff report.The other method is to drain the rice fields during harvest seven to 10 days earlier than in a normal drainage schedule.

The carbon offset credits would only be offered during the growing season, so as not to affect the amount of days rice fields are flooded in the winter — fields that are utilized by migratory birds for habitat and food.Climate change will affect virtually every sector of California's economy and most of its ecosystems, according to a report from the 2010 Climate Action Team. California is particularly vulnerable to climate change due to its coastal properties, reliance on snowpack for water supply and vulnerability to forest fires.The issue with the rice cap-and-trade program is that, with the current price of carbon, there is not a strong economic incentive for growers to change their practices, said Paul Buttner, manager of environmental affairs for the California Rice Commission.

Farmers can sell carbon offsets or allowances to industries or other entities that produce greenhouse gases. Such entities can neutralize their own emissions by purchasing the carbon credits at quarterly auctions run by the Air Resources Control Board."The revenue potential is quite modest, easily less than 1 percent of the cost to produce rice," Buttner said. "They're going to have to be keenly interested to make that a priority."Tom Butler has been planting rice with the dry-seeding method at his Robbins-area farm in Sutter County since 2007. He has participated in a pilot program for the cap-and-trade proposal since 2011.Butler said dry-seeding practices have increased his yield and weed control. But he cautioned his property is ideal for dry-seeding, which requires the land to drain quickly. Farmers in areas where the soil is thick with clay will not have such success with dry seeding, Butler said.

"The pilot program found that there is some benefit there, but it's not a gigantic windfall (of revenue)," Butler said. "I would have a hard time seeing any farmer doing it to get an extra $4 of $5 per acre. In the short and long term, I don't think that will be viable."Buttner said the price of carbon could increase in the future."If it doubles or triples, that would make the economics more attractive," Buttner said. "There's value in building this program and developing it for growers."The price of California carbon allowance futures has dropped markedly since reaching $23.75 in September 2012. The price had fallen to $12.58 as of Dec. 24, according to data from the Intercontinental Exchange.


What it means
Flooded rice fields create habitat for microorganisms that eat and digest plant matter and, as a byproduct, produce methane, a greenhouse gas.Methane emissions from rice fields account for 0.1 percent of total greenhouse gas emissions in the United State, according to a California Air Resource Board staff report.Rice would be the first crop included in a carbon cap-and-trade program and has a potential offset supply of 0.5 to three million metric tons of carbon, according to the report.The proposed action would not eliminate existing businesses and would not affect the creation of new businesses or the expansion of existing businesses.

It would not eliminate jobs or affect the creation of jobs, according to the staff report.There will be a comment period on including rice in the cap-and-trade program in late February. The final vote to approve the program is not expected until mid-2015, said Paul Buttner, manager of environmental affairs for the California Rice Commission."The vote last month was unanimous to move the program forward," Buttner said. "It's likely that the measure will pass the next vote."
— Andrew Creasey


Rice farmers want export restrictions against Cuba lifted

Posted: Jan 06, 2015 5:34 PM PSTUpdated: Jan 06, 2015 5:34 PM PST
By Theresa Schmidt
Description: http://kplc.images.worldnow.com/images/6376503_G.jpgA group of rice farmers and others from our region will travel to Washington D.C. to lobby for trade restrictions to be lifted to allow exports to Cuba.Since 1962 there's been an embargo in place that prevented exports to Cuba-- except for a brief period during the Clinton administration.Rice farmers like Brian Wild from Jeff Davis Parish say allowing rice exports to Cuba would make a big difference for  growers in this region.  "It would make a tremendous difference to me.  Our prices are down about 20 to 25 percent from last year.  
They're below our cost of production. I've heard figures as high as this market could mean as much as two billion dollars to Louisiana and to the south as a whole."Besides, Wild says the embargo hasn't accomplished anything."It's not an embargo against Cuba, it's an embargo against the Louisiana rice farmers because that market was taken from us and Castro is still, he's getting his rice.  They're importing their rice from Vietnam now, so they're still getting rice.
"Wild and other farmers attended a rice and soybean clinic in Welsh.  LSU AgCenter economist Dr. Mike Salassi says it would be a major market for farmers here:"To rice farmers in Louisiana it will mean a very close, major export market that's going to increase the demand for their product, which is going to increase the price that they receive and so that's why there's such interest.Salassi says a mechanism is needed to transfer money between the two countries
."One of the major limitations or restrictions with trade right now is having a banking system or banking arrangement with Cuba that can facilitate international trade and that's one of the factors that the producers and the rice industry of the United States and Louisiana are working toward to try to get financial arrangements established so that trade can occur between the two countries." Wild and others including millers and processors,  plan to travel to Washington D.C. to lobby for relaxed restrictions to allow rice exports to Cuba. 
Louisiana Rice Farmers Announce Plans for State Meeting 
 
JENNINGS, LA -- The Louisiana Rice Council (LARC) and the Louisiana Rice Growers Association (LARGA), Louisiana's two largest grower organizations, have scheduled their annual joint membership meeting for Tuesday, February 10.  The meeting will be held at a new location, the Grande Marais Center here, and will open with a trade show and reception at 4 p.m. followed by the program at 5:45 p.m.  Dinner will be served.
 Eric Unkel
"This meeting provides an annual report to rice farmers on programs funded by the Louisiana rice promotion check-off as well as timely information on other important issues," said Eric Unkel, a rice farmer from Allen Parish and LARC president.  "I encourage all rice industry stakeholders to attend."The featured speaker will be Kevin Norton, state conservationist, U.S. Department of Agriculture's Natural Resources Conservation Service, who will discuss conservation opportunities for rice farmers through Farm Bill programs.  USA Rice Federation staff will report on the Federation's activities and promotional achievements.  Louisiana Department of Agriculture and Forestry Commissioner Mike Strain will address issues of concern to the Louisiana rice industry.

 Jeffery Sylvester
"This is the largest gathering of rice farmers in the state each year," said Jeffery Sylvester, an Evangeline Parish rice farmer and LARGA president.  "It's what makes this event the perfect place to display rice-related equipment, technology, products and services, and show support for the Louisiana rice industry."
 USA Rice also will participate in the Central Louisiana Rice Growers Association Annual Membership meeting on Wednesday, February 11, 11 a.m. at Dean Lee Experiment station in Alexandria, LA, and the Northeast LA Rice Growers Association Rice Forum on Thursday, February 12, 9 a.m. at the Delhi Civic Center in Delhi, LA. For information on the meetings, including sponsorship and exhibit opportunities, contact Randy Jemison.
Contact:  Randy Jemison (337) 738-7009
Source with thanks:USA Rice Federation

Two more varieties of hybrid rice introduced 

Abu Bakar Siddique

The new varieties, BADC Hybrid Dhan 2 and Buyer Hybrid Dhan 4, were released on Monday, each variety having the capacity of producing around six tonnes of paddy per hectare


The government has introduced two more varieties of hybrid rice for cultivation aiming to boost the rice production in the country.The new varieties, BADC Hybrid Dhan 2 and Buyer Hybrid Dhan 4, were released on Monday, each variety having the capacity of producing around six tonnes of paddy per hectare.Anwar Faruque, director general of the Ministry of Agriculture’s Seed Wing, said the government gives priority to the cultivation of more hybrid varieties to boost the food production in the country, and introducing the two new hybrid varieties is a part of that.
According to the Department of Agriculture Extension (DAE), the annual paddy production, in Bangladesh is around 3.38 million tonnes.The paddy production using traditional and locally developed high-yielding varieties are two tonnes and 3.8 tonnes per hectare, respectively. The paddy production using hybrid seed is 4.7 tonnes per hectare.
Of the new hybrid paddy varieties, the BADC Hybrid Dhan 2, sourced from China by Bangladesh Agricultural Development Corporation (BADC), has the production capacity of 6.5-7.2 tonnes per hectare, and the Buyer Hybrid 4, sourced from India by Bayer Crop Science, has the production capacity of 6-6.5 tonnes per hectare, sources at the ministry said.Around 10-12% of the total paddy production in the country came from hybrid seeds, which is very low in volume, said Anwar, who is also an additional secretary at the ministry.
“The government is trying to enhance the use of hybrid seeds to get more production in the gradually reducing agricultural land to ensure food security of the country,” he added.The state-owned Bangladesh Rice Research Institute (BRRI) has developed 62 varieties of paddy so far. Of them, the number of hybrid varieties is only six.A total of 132 varieties of hybrid paddy have been introduced in Bangladesh. Of them, the BADC developed two varieties, the BRRI developed six, and the rest were developed by private companies. 

Chinese High-Yield Rice Tech to go to Bangladesh
Andrian Darylle Torralba   |
Jan 07, 2015 11:50 AM EST
(Photo : Creative Commons: Flickr)
Description: RiceChina is sharing its high-yield rice planting technology with the people of Bangladesh.According to BD News 24, Bangladeshi Foreign Minister Abul Hassan Mahmood Ali announced a rice research center will be set up in Bangladesh. This after Chinese foreign minister Wang Yi paid his country a visit.The Bangladeshi foreign minister said the meeting was a success, and that he believes this has strengthened the relationship between both countries. "It's a big development (transferring technology of high-yield rice)," Ali said.
He also pointed out that food production in Bangladesh needs to be increased and that rice-growing technology used by the Chinese people will really help them in this area. To make the relationship even stronger, China has decided to invest US$1.2 billion to finance the transfer project.In addition to the technology transfer and setting up the rice research center in Bangladesh, there were five areas of cooperation the countries agreed to prioritize. Agriculture, trade, energy, industry, and infrastructure made it to the list.The relocation of several Chinese factories to Bangladesh was also discussed during the meeting.Power plants and oil and gas exploration projects were also discussed during the meeting between the two foreign ministers. Setting up a specialized economic trade zone in Bangladesh was also raised.
China helps Fiji reduce reliance on imported rice
Source:Xinhua Published: 2015-1-7 14:12:28
________________________________________
A team of rice experts from China helped Fiji to implement a rice development program worth some 5 million US dollars in Vanua Levu, Fiji's major northern island, the Fijian government announced Wednesday.Uraia Waibuta, acting permanent secretary of Fiji's Ministry of Agriculture said the Chinese expert team is in the South Pacific island country to demonstrate and train farmers and agriculture officers the technologies to increase rice production, to improve local varieties and introduce best cultivation techniques to local rice farmers, according to the Department of Information.
The team is expected to work at the Northern Dreketi Irrigation Project on 200 hectares of rice land extension and also at the Koronivia Research Station for rice seeds experiment and research.
A memorandum of understanding between China and Fiji has been signed to boost rice production in Fiji.The China Shandong International Economic and Technical Cooperation Group Limited in technical partnership with world- known hybrid rice seeds company, Yuan Longping High-Tech Agriculture Company Limited are expected to work together with Fiji's Ministry of Agriculture in producing more rice locally.Fiji currently imports some 20 million US dollar worth of rice annually, the Department of Information said, adding that " the assistance provided by the Chinese rice experts is an opportunity for Fiji to reduce its rice import bill".
Posted in: Diplomacy
Source with thanks://www.globaltimes.cn/content/900434.shtml
Minister confident rice self sufficiency in less than three years
Rabu, 7 Januari 2015 20:46 WIB
Jakarta (ANTARA News) - Agriculture Minister Amran Sulaiman said he is confident self sufficiency in rice would be reached in less than three years.The minister said here on Wednesday, President Joko Widodo sets the self sufficiency target for rice, corn and soybean in three years."Rice self sufficiency would be reached in less than three years. We set the target for ourselves that in 2016 we would be self sufficient in rice supply," he said. He said the government has set aside Rp20 trillion to reach the food self sufficiency including Rp16 trillion from the state budget and Rp4 trillion in Special Allocation Fund (DAK).In addition, the ministry has allocated Rp4.1 trillion in fund set aside for less productive sectors to productive sectors to speed up the process to reach the target, he said.
The productive sectors include irrigation system, seed and fertilizer procurement as well as procurement of farming tools and machines, he said on the sidelines of the installation of new Food Crop Director General Hasil Sembiring. "So far damaged irrigation channels, inefficiency in seeds, fertilizers and farming tools and machines have been the main factors failure in achieving food self sufficiency," he said. Meanwhile Hasil Sembiring also said he was confident the food self sufficiency target could be achieved. Hasil Sembiring, who was former head of the Sukamdani Rice Research Center, replaced Udoro Kasih Anggoro as the new food crop director general.He said he had no special program, adding he needs only to carry out the program is already set by the minister.(*)



CCC Announces Prevailing World Market Prices 
WASHINGTON, DC -- The Department of Agriculture's Commodity Credit Corporation today announced the following prevailing world market prices of milled and rough rice, adjusted for U.S. milling yields and location, and the resulting marketing loan-gain (MLG) and loan deficiency payment (LDP) rates applicable to the 2014 crop, which became effective today at 7:00 a.m., Eastern Time (ET).  Prices are unchanged from the previous announcement.

World Price
MLG/LDP Rate

Milled Value ($/cwt)
Rough ($/cwt)
Rough ($/cwt)
Long-Grain
16.76
10.63
0.00
Medium-/Short-Grain
16.19
10.90
0.00
Brokens
10.11
----
----

This week's prevailing world market prices and MLG/LDP rates are based on the following U.S. milling yields and the corresponding loan rates:

U.S. Milling Yields
Whole/Broken
(lbs/cwt)
Loan Rate
($/cwt)
Long-Grain
55.83/12.59
6.50
Medium-/Short-Grain
62.39/7.92
6.50

The next program announcement is scheduled for January 14
Source with thanks: USA Rice Federation
CME Group/Closing Rough Rice Futures   
CME Group (Prelim):  Closing Rough Rice Futures for January 7
Month
Price
Net Change

January 2015
$11.410
+ $0.050
March 2015
$11.650
+ $0.045
May 2015
$11.870
+ $0.045
July 2015
$12.095
+ $0.035
September 2015
$11.610
+ $0.040
November 2015
$11.575
+ $0.045
January 2016
$11.725
+ $0.045
Source with thanks: USA Rice Federation





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