Currency
moves to tag-team El Niño in Asia rice markets
Market wisdom is that Asian rice prices are set
to rally as El Nino cuts output and bulging stockpiles are steadily
eroded.There's nothing wrong with this view, but as is often the case there are
some offsetting factors that make a strong rally far from a sure thing, as can
be seen by recent price movements in the grain, the staple for some two-thirds
of the world's population.Benchmark Thai 5-percent broken white rice staged a
10 percent rally from a 7 1/2-year low of $367.50 a tonne on June 24 to a
recent peak of $405 on July 17.However, since then, it has dropped back to a
fresh low of $362.50 a tonne on Aug. 27, making the rally very short-lived.Part
of this is the general malaise that has roiled most commodity markets, but part
is also that buyers have been demanding lower prices because of the
depreciation of the Thai baht.The baht has lost 10 percent of its value against
the U.S. dollar since its 2015 closing high of 32.33 in April to Thursday's
close of 35.64.The fall in the baht has caused the baht price of rice to
whipsaw about, but overall it is down about 6 percent so far this year, or less
than half the 13.3 drop in dollar terms.It's much the same situation for
Thailand's regional competitor in rice exports, Vietnam, which has seen its
currency, the dong, slip 6.7 percent against the dollar from the year high in early
February to the close of 22,534 on Thursday.Vietnamese 5-percent broken white
rice has surrendered 12.9 percent so far this year to $337.50 a tonne, but is
down only 8.2 percent in local currency terms.With the outlook for ongoing
dollar gains, especially against emerging market currencies, the chances are
that buyers will apply additional pressure on sellers to keep prices low in
dollar terms.
El Nino Looms
But what of El Nino, the weather phenomenon
that brings dry, hot weather to Southeast Asia and Australia, but wetter
conditions to North America.Weather forecasters have been upping their
predictions for a strong El Nino, which would last into next year and most
likely cut output of rice, as well as that of Australian wheat, soybeans in
India and corn in China.Any rice production shortfall will have to be made up
from stockpiles, but how much more rice is likely to be needed and will it be
enough to significantly dent Thailand's rice mountain, built up by the ousted
government as part of its generous support measures for farmers?
Indonesia, traditionally a rice importer but
trying hard to become self-sufficient, still expects to increase its harvest by
7 percent in 2015 despite El Nino.However, El Nino may delay rice crops and
lead to imports of as much as 1.6 million tonnes this year, according to
analysts, a step that would help curb rising domestic rice prices, already the
second-highest in Southeast Asia.The Philippines, another heavy importer, also
plans to boost domestic rice production in 2016, but will import more in 2015
to meet a shortfall in this year's output.The government has already bought
750,000 tonnes this year and may import another 250,000 before the end of the
year. Private traders may add as much as 805,200 tonnes by Nov. 30, subject to
a 35 percent tariff.
China's early season rice output dropped 0.9
percent to 33.69 million tonnes in 2015 from a year earlier, according to
official figures, raising the possibility of higher imports by the world's
second-biggest economy.While it seems likely that Asia's top importers will
increase purchases, there is still the question of large stockpiles that need
to be worked through.Thailand's 13-million tonne rice mountain may actually
contain only about 9 million tonnes of edible rice because of spoiling from
long storage periods, according to the U.N. Food and Agriculture Organisation
(FAO).The FAO also says that inventories have been dropping steadily in the
world's five biggest exporters, after strong shipments in 2014, and the
stock-to-use ratio, the level of inventories relative to domestic consumption
and exports, will drop to 19 percent in 2015/16, the lowest since 2007/08.This
indicates a tightening of supply, but still suggests there is plenty of rice
available even as El Nino makes its presence felt.While rice prices should
rise, the chances are that the process won't be even and will be influenced by
currency movements, with those exporters experiencing stronger depreciation
against the dollar likely to seek to maximize their advantage.
http://www.agprofessional.com/news/currency-moves-tag-team-el-ni%C3%B1o-asia-rice-markets
NFA hit for ‘excessive’ rice importation
(The Philippine Star) | Updated August 31, 2015 - 12:00am
East Africa: Exit Kenya's Sugar, Enter Tanzania
Rice - Kampala's New Trade War
The East African (Nairobi)
30 AUGUST 2015
By Julius Barigaba
Even as recent trade wars in the East African
Community have mostly featured Kenya and Uganda over sugar exports, Kampala has
for the past two months been locked in a dispute with Tanzania over an 18 per
cent value added tax on the latter's rice.The EastAfrican has learnt that tens
of thousands of tonnes of rice grown and produced in Tanzania are either lying
at Mutukula and Port Bell or in other border towns on the Tanzanian side.Uganda
says it is invoking its internal law as opposed to the EAC laws. Article 15 (1)
and (2) of the EAC Customs Union Protocol prevents discrimination and
imposition of internal tax on products of partner states.The five EAC partner
states have not yet harmonised domestic tax laws and as such, Uganda's VAT Act
applies in this case, according to Moses Egwapu, a tax policy officer at the
Ministry of Finance.
"Why should rice from Tanzania not pay
VAT? The VAT Act states that rice from outside Uganda attracts VAT... VAT is a
domestic tax," Mr Egwapu told The EastAfrican.Mr Egwapu added that the VAT
Act applies to all rice imports so as to protect the local industry and give
incentive to Ugandan millers to add value to their rice.This, however, plays
into the same nationalistic and protectionist motives that Kenya was using to
block Ugandan sugar millers from exporting their excess sugar to Kenya to which
Kampala responded by blocking beef imports from Kenya, until Presidents Yoweri
Museveni and Uhuru Kenyatta agreed to end the long running trade war.But the
rice lobby in Uganda, which boasts 120 dealers who buy both locally as well as
import from the EAC and elsewhere, is citing the EAC Customs Union Protocol and
the EAC Customs Management Act as it heads to the courts to interpret the laws
and arbitrate in this dispute."We are waiting for them to write to us
formally about their stand and we shall then take them head on."We are going
to fight this legally and morally. If this is not solved in the next few days,
we will campaign the Protocol, highlighting the discrimination against rice in
favour of sugar," said Issa Sekitto, spokesman of the Kampala City Traders
Association, the business lobby to which the rice importers belong
http://allafrica.com/stories/201508311255.html
NFA hit
for ‘excessive’ rice importation
Data from the Bureau of
Agricultural Statistics show that the June inventory was 30.9 percent higher
than the 2.31 metric tons the nation had in June last year. Philstar.com/File
MANILA, Philippines - The National Food Authority (NFA) is under
fire for the “excessive importation” of 2.1 million metric tons of rice for
this year.As of June 1, the country had a total rice stock inventory of 3.02
million metric tons, Bayan Muna Representatives Neri Colmenares and Carlos
Zarate quoted the Department of Agriculture (DA) as saying.Data from the Bureau
of Agricultural Statistics show that the June inventory was 30.9 percent higher
than the 2.31 metric tons the nation had in June last year, they added.Despite
the higher level of stocks, the NFA imported or authorized the importation of
2.1 million metric tons for this year, Colmenares said.
The 2.1-million metric ton importation includes 500,000 MT the NFA
procured from Thailand and Vietnam – 250,000 MT programmed for the lean season,
250,000 MT as reserve volume, 300,000 MT delivery under last year’s minimum
access volume (MAV), and 805,200 MT private sector imports from China, India,
Pakistan, Australia, El Salvador, Thailand, and Vietnam, he added.Given the
rice self-sufficiency figures from the DA, the approval and excessive
importation of a total of 2.1 million MT in rice imports for 2015 is highly
irregular and doubtful, Colmenares said.Headlines ( Article MRec ), pagematch:
1, sectionmatch: 1
“Even NFA has admitted
that the importation would cause the farm-gate price of palay to go down from
its current price of P17 per kilo,” he said.Zarate said the Aquino
administration is doing what the Arroyo administration had done.Aquino
criticized his predecessor in his previous State of the Nation Address speeches
for over-importing rice, especially during election time.
And yet, his administration is importing more rice at a time when
the next elections are just around the corner, Zarate added.Aquino has not kept
his promise to go after NFA officials and other persons behind the
over-importation of rice during the Arroyo administration, he said
http://www.philstar.com/headlines/2015/08/31/1494187/nfa-hit-excessive-rice-importation
Despite rain
deficit, kharif sowing completed in 92% of area
Our Bureau
Acreage gap over last year
down to 1%
New Delhi, August
28:
The divergence in Kharif season sowing figures this year
compared with the last season narrowed further this week, according to data
released by the Agriculture Ministry on Friday. The area under crops, such as
rice, cotton, soyabean and sugarcane, is estimated at 967.83 lakh hectares
(lh), just 1.1 per cent higher than the corresponding period of the last year.The
acreage of pulses continues to be higher — 12 per cent more currently — while
the area under cotton has continued to fall.
Rainfall deficit
The overall acreage gap has been closing since mid-July
and has become more pronounced in recent weeks. With nearly 92 per cent of
sowing completed, steady rainfall over September is pivotal for yields.Drought
conditions have continued to prevail across vast tracts of the Southern
Peninsula and Central India, which are traditionally rain-fed. As of Friday,
India received 12 per cent deficient rainfall due to the El Nino phenomenon,
which agencies around the world says is the strongest in history.According to
India Meteorological Department (IMD) data, there is a 20 per cent rainfall
deficit in peninsular India and a 15 per cent shortfall in the Central region.
While the North-West had recorded a surplus through the beginning of August, it
now has a 7 per cent deficit. Of the 36 sub-divisions, 15 have received
deficient rain. Marathwada, central Maharashtra, north interior Karnataka,
Kerala, Telangana, Bihar, east and west Uttar Pradesh are among the most
acutely affected regions.
Crop data
Pulses, such as arhar (tur), urad and moong, have been
sown across 105.52 lh (94.18 lh). Moong and urad coverage is up nearly 20 per
cent and 13.3 per cent, respectively.The area under coarse cereals is up a
little more than 3 per cent over the year with 172.5 lh being covered so far
with crops, such as jowar, bajra and Kharif maize.
Oilseeds acreage stands at 174.59 lh, only 1.4 per cent
higher than the 172.26 lh recorded in the same period last year. Soyabean and
sesamum areas are higher, but castor and groundnut coverage have slipped nearly
11 per cent and 3 per cent, respectively. Cotton sowing has taken place over
112.68 lh — around 8 per cent lower than the 122.5 lh sown at the same time
last year. The area under jute and mesta remains stagnant and continues to be
about 4 per cent lower.
Rice, the main Kharif foodgrain, has been planted on
345.89 lh, marginally higher than the corresponding coverage last year, while
the sugarcane area is up 3.5 per cent at 48.84 lh, the same as last week.
http://www.thehindubusinessline.com/economy/despite-rain-deficit-kharif-sowing-completed-in-92-of-area/article7591437.ece
El Nino, depreciation
impact rice market
10:35 am, August 30, 2015
ReutersLAUNCESTON, Australia — Market
wisdom is that Asian rice prices are set to rally as El Nino cuts output and
bulging stockpiles are steadily eroded.There’s nothing wrong with this view,
but as is often the case, there are some offsetting factors that make a strong
rally far from a sure thing, as can be seen by recent price movements in the
grain, the staple for some two-thirds of the world’s population.Benchmark Thai
5-percent broken white rice staged a 10 percent rally from a 7½-year low of
$367.50 a ton on June 24 to a recent peak of $405 on July 17.However, since
then, it has dropped back to a fresh low of $362.50 a ton on Aug. 27, making
the rally very short-lived.Part of this is the general malaise that has roiled
most commodity markets, but part is also that buyers have been demanding lower
prices because of the depreciation of the Thai baht.
The baht has lost 10 percent of its value against the U.S.
dollar since its 2015 closing high of 32.33 in April to Thursday’s close of
35.64.The fall in the baht has caused the baht price of rice to whipsaw about,
but overall it is down about 6 percent so far this year, or less than half the
13.3 drop in dollar terms.It’s much the same situation for Thailand’s regional
competitor in rice exports, Vietnam, which has seen its currency, the dong,
slip 6.7 percent against the dollar from the year high in early February to the
close of 22,534 on Thursday.Vietnamese 5-percent broken white rice has
surrendered 12.9 percent so far this year to $337.50 a ton, but is down only
8.2 percent in local currency terms.With the outlook for ongoing dollar gains,
especially against emerging market currencies, the chances are that buyers will
apply additional pressure on sellers to keep prices low in dollar terms.But
what of El Nino, the weather phenomenon that brings dry, hot weather to
Southeast Asia and Australia, but wetter conditions to North America.
Weather forecasters have been upping their predictions for a
strong El Nino, which would last into next year and most likely cut output of
rice, as well as that of Australian wheat, soybeans in India and corn in China.Any
rice production shortfall will have to be made up from stockpiles, but how much
more rice is likely to be needed and will it be enough to significantly dent
Thailand’s rice mountain, built up by the ousted government as part of its
generous support measures for farmers?
Indonesia, traditionally a rice importer but trying hard to
become self-sufficient, still expects to increase its harvest by 7 percent in
2015 despite El Nino.However, El Nino may delay rice crops and lead to imports
of as much as 1.6 million tons this year, according to analysts, a step that
would help curb rising domestic rice prices, already the second-highest in
Southeast Asia.The Philippines, another heavy importer, also plans to boost
domestic rice production in 2016, but will import more in 2015 to meet a
shortfall in this year’s output.
The government has already bought 750,000 tons this year and may
import another 250,000 before the end of the year. rivate traders may add as
much as 805,200 tons by Nov. 30, subject to a 35 percent tariff.China’s early
season rice output dropped 0.9 percent to 33.69 million tons in 2015 from a
year earlier, according to official figures, raising the possibility of higher
imports by the world’s second-biggest economy.While it seems likely that Asia’s
top importers will increase purchases, there is still the question of large
stockpiles that need to be worked through.Thailand’s 13-million ton rice
mountain may actually contain only about 9 million tons of edible rice because
of spoiling from long storage periods, according to the U.N. Food and
Agriculture Organization (FAO).
The FAO also says that inventories have been dropping steadily
in the world’s five biggest exporters, after strong shipments in 2014, and the
stock-to-use ratio, the level of inventories relative to domestic consumption
and exports, will drop to 19 percent in 2015/16, the lowest since 2007/08.This
indicates a tightening of supply, but still suggests there is plenty of rice
available even as El Nino makes its presence felt.While rice prices should rise,
the chances are that the process won’t be even and will be influenced by
currency movements, with those exporters experiencing stronger depreciation
against the dollar likely to seek to maximize their advantage
http://the-japan-news.com/news/article/0002387027
Dow licenses genome-editing method for
use in Chinese rice research
Dow AgroSciences, a wholly owned subsidiary of the Michigan-based Dow Chemical Company, will be collaborating with ICS-CAAS scientists to develop a rice-genome-editing platform. ICS-CAAS scientists will use Dow’s EXZACT technology to increase their expertise in rice genomics, transcriptomics, proteomics and cell biology. That could accelerate the integration of scientific knowledge about rice to rapidly develop valuable rice products for the Chinese market.
Tim Hassinger, president and CEO of Dow AgroSciences, said the collaboration on genetically modified rice holds great promise. “We have a long-term commitment in China as a strategic partner for agricultural sustainability and best practices,” Hassinger said. “The EXZACT Precision Technology collaboration with CAAS is a strong example of this commitment, which will significantly enable Chinese scientists to improve rice research and product development, thus benefiting China’s long-term food security.”
http://cropprotectionnews.com/stories/510635872-dow-licenses-genome-editing-method-for-use-in-chinese-rice-research
Arkansas
Farm Bureau Daily Commodity Report
A comprehensive daily commodity market report for Arkansas
agricultural commodities with cash markets, futures and insightful analysis and
commentary from Arkansas Farm Bureau commodity analysts.
Noteworthy benchmark price levels of interest to farmers and
ranchers, as well as long-term commodity market trends which are developing.
Daily fundamental market influences and technical factors are noted and discussed.
Soybeans
|
High
|
Low
|
|
|
Cash
Bids
|
910
|
831
|
|
New
Crop
|
907
|
841
|
|
|
||
Riceland Foods
|
|
||
|
Cash
Bids
|
Stuttgart: - - -
|
Pendleton: - - -
|
|
New
Crop
|
Stuttgart: - - -
|
Pendleton: - - -
|
|
|
||
|
Futures:
|
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Soybean Comment
Soybeans continue to see gains
today's. Another large export sale was reported today which may indicate that
foreign markets are taking advantage of low soybean prices. While there remains
some concern about the size of the crop all eyes remain on China. Soybeans need
this market to remain robust if prices are to stay between $8.50 and $9. Should
the China market weaken more and this lead to slower demand we could easily see
soybean prices tumble, especially given the prospects for another big South American
Crop.
Wheat
|
High
|
Low
|
|
|
Cash
Bids
|
350
|
350
|
|
New
Crop
|
492
|
382
|
|
|
||
|
Futures:
|
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Wheat Comment
Wheat prices were able to post
modest gains despite continued weak fundamentals. Wheat prices have little
support from the fundamentals at this time and however, prices look to be
trying to find a bottom and could see a technical recovery if the broader
market will provide support for prices.
Grain Sorghum
|
High
|
Low
|
|
|
Cash
Bids
|
370
|
332
|
|
New
Crop
|
370
|
333
|
|
|
||
Corn
|
High
|
Low
|
|
|
Cash
Bids
|
375
|
333
|
|
New
Crop
|
375
|
337
|
|
|
||
|
Futures:
|
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Corn Comment
Corn prices posted modest losses
today as the market continues to search for bullish news. The forecast remains
mostly favorable for corn production; however the market will closely watch
this to see if the warm dry weather begins to affect the crop. The market
continues to wait for additional demand news before a major rally. Longer term
traders will be watching to see if the U.S.crop shrinks which would result in a
further draw down in stocks this year.
Cotton
|
Futures:
|
|
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Cotton Comment
Cotton futures ended mostly lower
with most active December unchanged. The market continues to be concerned about
a global economic slow down and China in particular, as it has the potential to
impact cotton demand. That concern is overshadowing the smaller U.S. crop for
now. December futures continued to retrace the gains charted in reaction to the
monthly supply/demand report with the next support at the contract low of
61.25.
Rice
|
High
|
Low
|
|
|
Long
Grain Cash Bids
|
- - -
|
- - -
|
|
Long
Grain New Crop
|
- - -
|
- - -
|
|
|
||
|
Futures:
|
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Rice Comment
Rice futures continued to climb
today. The market has taken the rice stocks report pretty much in stride, as
the totals weren't entirely unexpected. Rough rice in all positions on August
1, 2015 were up 61% from the 2014 total. Stocks held on farms totalled 1.48
million cwt and off farm stocks totalled 41.3 million cwt. Milled rice stocks
were up nine percent from a year ago at 4.06 million cwt. November found
resistance at $12.25 today, with additional resistance at the recent high of
$12.34.
Cattle
|
Futures:
|
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Live Cattle:
|
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Feeders:
|
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Arkansas Prices
Ash Flat Livestock Auction
Ola Livestock Auction
Springdale Livestock Auction
Oklahoma City
Oklahoma City - Feeder Cattle Auction Weighted Average Report
Cattle Comment
Cattle prices closed lower today.
The late rally last week failed to carryover, concerns about the broader
economy and strong dollar remain a concern for demand both in the domestic and
international markets.
Hogs
|
Futures:
|
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Hog Comment
Shell Eggs
National
Turkeys
Delmarva
Broilers
http://www.arfb.com/ag-markets-statistics/report/
Nagpur Foodgrain
Prices Open- Aug 31
Nagpur, Aug 31 Gram prices reported higher in Nagpur Agriculture Produce and
Marketing Committee (APMC) here on increased festival season demand from local millers amid weak supply from producing regions. Healthy rise in NCDEX, upward trend in Madhya Pradesh gram prices and reported demand from South-based millers also jacked up prices, according to sources.
* * * *
FOODGRAINS & PULSES
GRAM
* Desi gram zoomed up in open market on increased demand from local traders amid
thin supply from producing regions.
TUAR
* Tuar varieties reported down in open market here in absence of buyers amid release
of stock from stockists.
* Batri dal and Lakhodi dal reported strong in open market here on good festival
season demand from local traders amid weak supply from producing regions. Sharp rise
in other most usable pulses prices also helped to push up these commodities.
* In Akola, Tuar - 9,800-910,100, Tuar dal - 13,800-14,200, Udid at 9,400-9,700,
Udid Mogar (clean) - 11,300-11,700, Moong - 7,600-7,800, Moong Mogar
(clean) 9,200-9,800, Gram - 4,500-4,800, Gram Super best bold - 6,000-6,0200
for 100 kg.
* Wheat, rice and other commodities remained steady in open market in thin trading
activity, according to sources.
Nagpur foodgrains APMC auction/open-market prices in rupees for 100 kg
FOODGRAINS Available prices Previous close
Gram Auction 4,100-4,920 4,040-4,810
Gram Pink Auction n.a. 2,100-2,600
Tuar Auction n.a. 8,500-9,775
Moong Auction n.a. 6,000-6,400
Udid Auction n.a. 4,300-4,500
Masoor Auction n.a. 2,600-2,800
Gram Super Best Bold 6,500-6,800 6,500-6,800
Gram Super Best n.a.
Gram Medium Best 5,900-6,100 5,900-6,100
Gram Dal Medium n.a. n.a.
Gram Mill Quality 5,800-5,900 5,800-5,900
Desi gram Raw 5,000-5,100 4,900-5,000
Gram Filter new 6,200-6,400 6,200-6,400
Gram Kabuli 6,400-7,500 6,400-7,500
Gram Pink 6,800-7,000 6,800-7,000
Tuar Fataka Best 14,000-14,500 14,200-14,600
Tuar Fataka Medium 13,500-13,800 13,600-13,900
Tuar Dal Best Phod 12,500-13,000 12,600-13,100
Tuar Dal Medium phod 12,000-12,300 12,100-12,400
Tuar Gavarani New 10,000-10,200 10,350-10,450
Tuar Karnataka 10,300-10,600 10,450-10,750
Tuar Black 12,200-12,500 12,600-12,900
Masoor dal best 8,600-8,800 8,600-8,800
Masoor dal medium 8,150-8,450 8,150-8,400
Masoor n.a. n.a.
Moong Mogar bold 9,600-9,900 9,600-9,900
Moong Mogar Medium best 8,200-8,800 8,200-8,800
Moong dal Chilka 8,600-8,800 8,600-8,800
Moong Mill quality n.a. n.a.
Moong Chamki best 8,400-9,200 8,400-9,200
Udid Mogar Super best (100 INR/KG) 11,700-12,000 11,700-12,000
Udid Mogar Medium (100 INR/KG) 10,600-11,000 10,600-11,000
Udid Dal Black (100 INR/KG) 9,400-9,800 9,400-9,800
Batri dal (100 INR/KG) 5,200-5,600 5,150-5,550
Lakhodi dal (100 INR/kg) 4,000-4,200 3,850-4,050
Watana Dal (100 INR/KG) 3,150-3,350 3,150-3,350
Watana White (100 INR/KG) 3,100-3,300 3,100-3,300
Watana Green Best (100 INR/KG) 3,200-3,600 3,200-3,600
Wheat 308 (100 INR/KG) 1,400-1,500 1,400-1,500
Wheat Mill quality(100 INR/KG) 1,600-1,700 1,600-1,700
Wheat Filter (100 INR/KG) 1,350-1,550 1,350-1,550
Wheat Lokwan best (100 INR/KG) 2,250-2,400 2,250-2,400
Wheat Lokwan medium (100 INR/KG) 1,950-2,100 1,950-2,100
Lokwan Hath Binar (100 INR/KG) n.a. n.a.
MP Sharbati Best (100 INR/KG) 3,400-3,700 3,400-3,700
MP Sharbati Medium (100 INR/KG) 2,750-2,900 2,750-2,900
Rice BPT New(100 INR/KG) 2,800-3,000 2,800-3,000
Rice BPT (100 INR/KG) 2,900-3,100 2,900-3,100
Rice Parmal (100 INR/KG) 1,700-1,900 1,700-1,900
Rice Swarna new (100 INR/KG) 2,300-2,450 2,300-2,450
Rice Swarna old (100 INR/KG) 2,700-2,800 2,700-2,800
Rice HMT new(100 INR/KG) 3,400-3,800 3,400-3,800
Rice HMT (100 INR/KG) 3,900-4,300 3,900-4,300
Rice HMT Shriram New(100 INR/KG) 4,200-4,500 4,200-4,500
Rice HMT Shriram old (100 INR/KG) 4,600-5,100 4,600-5,100
Rice Basmati best (100 INR/KG) 8,000-10,000 8,000-10,000
Rice Basmati Medium (100 INR/KG) 7,000-7,500 7,000-7,500
Rice Chinnor new (100 INR/KG) 4,500-4,900 4,500-4,900
Rice Chinnor (100 INR/KG) 5,400-5,700 5,400-5,700
Jowar Gavarani (100 INR/KG) 2,100-2,350 2,100-2,350
Jowar CH-5 (100 INR/KG) 2,400-2,500 2,400-2,500
WEATHER (NAGPUR)
Maximum temp. 29.7 degree Celsius (85.5 degree Fahrenheit), minimum temp.
24.5 degree Celsius (76.1 degree Fahrenheit)
Humidity: Highest - n.a., lowest - n.a.
Rainfall : 0.1 mm
FORECAST: Generally cloudy sky. Rains or thunder-showers likely. Maximum and minimum temperature
would be around and 34 and 24 degree Celsius respectively.
Note: n.a.--not available
(For oils, transport costs are excluded from plant delivery prices, but
included in market prices.)
Arkansas
Rice Update 8-28-15
Author: Jarrod Hardke, Rice
Extension Agronomist
August 28,
2015
No. 2015-26
Dr. Jarrod
Hardke, Dr. Trent Roberts, & Scott Stiles
Crop Overview
The old saying goes if you don’t have anything nice to say then
don’t say anything at all. I do wish there were nicer things to say right
now, but hopefully better days are on the horizon.To echo previous comments,
yields in the southern half of the state continue to support an estimate of a
10% decline compared to recent years and milling yields don’t sound too great
either. This is certainly not what anyone needed this season.
However, “recent years” of 2012-2014 represent the three highest state average
yields ever for Arkansas. There was always going to be a fallback from
that, we were just hoping to ride the wave for one more year.
There is still hope out there. The rice that has been
harvested to date was all planted in the early window of late March through the
first week of April. As we move into the later window, I do believe that
the yield situation will improve. Early numbers from the northern half of
the state suggest yields closer to recent years.From looking at fields that
have been or are being harvested, it doesn’t look like our decline is from lack
of pollination. In most cases, nearly all kernels are full on the plants,
the panicles are just small and there aren’t that many kernels.
The number of panicle branches and number of kernels per panicle
are set around internode elongation. So the field observations suggest
that conditions weren’t favorable around internode elongation for plants to
maximize these yield components. Conditions during this time period were
daytime highs in the 90s with overnight lows hovering around 75 degrees in the
southern half of the state. Mixed into that were unseasonable cool
snaps. Just speculating, plants may not have known which way was up
during that period and maybe that’s part of the reason for the yields we’re
currently seeing.According to DD50 enrollment, 69% of fields have reached
harvest moisture (20%) (Table 1). Dry conditions, but with heavy morning dews and low
overnight temperatures seem to have drying conditions at a moderate pace at
best.
Grain Moisture and the DD50 Program
The DD50 program provides an estimate of 20% grain
moisture. This is inevitably a built in guess according to a set number
of days because of the many factors that can greatly influence the grain
dry-down process, including N rate, drain date, temperature, rainfall,
humidity, and dew period. However, at this time based on samples we’re
taking from plots in Stuttgart, rice cultivars ranging in maturity from Roy J
to CL111 appear to be hitting 20% grain moisture right in line with the DD50
estimate. If you don’t already have fields enrolled in the DD50 program
you can do so here: http://dd50.uaex.edu/ to get predicted dates for 20% grain moisture.
Blackbird Repellent for Headed Rice
There have been a number of calls over the last couple of weeks
about blackbirds in headed rice. There is a product labeled in Arkansas
called ‘Avian Control’ that appears to have some utility for managing this
problem. Plot work involving blackbirds is virtually impossible, so we have
put out a handful of demonstrations with some growers to evaluate how well the
product works for us. Results are only observational – blackbirds aren’t
like insects, we can’t go out and catch them in a sweep net.
In general the results have all been positive. In
situations where birds were roosting in nearby tree lines and frequenting the
adjacent field, there was success in treating only the portion of the field
closest to the tree line. However, in fields with no obvious near source
of blackbirds, it was necessary to treat the entire field. There is a
wide rate range on the label – we’ve looked at the 24 and 32 oz/acre rates.
Please remember that this product acts as a deterrent, it
doesn’t mean that birds will completely stop entering the field and it doesn’t
kill them. They don’t like the taste and move on. The product is
fairly short-lived, but we were told to expect 7-14 days of bird deterrence
with 7 days likely if it rained after application and 14 days more likely if it
didn’t rain. So far that seems to hold pretty true for our demos.
Information provided on this bird repellent is simply a “passing
along info” effort. Use the product at your own risk and discretion as we
have only seen it in a few large demos. Yes, it causes rice to be
distasteful to birds, but we have no indication that it will cause any change
in taste of the rice – this product and others like it are labeled and used on
many fruits, vegetables, and cereal grains.
There are likely other products with a similar active ingredient
out there that are labeled for a similar use, this is just one such product we
have had the opportunity to demo. Find what works best for you at the
best price. My understanding is the cost works out to around $13/acre at
~24 oz/acre – confirm before ordering. Not cheap, but cheaper than some
of the other methods I’m hearing people using to scare them off.
Cover Crops – Planning for Success
To read the first installment in a series on cover crops,
including tips in rice production systems, please visit the following link:
Weekly Market Summary
The CME September and November rice futures contracts settled 29
cents higher on the day Friday, but 4 to 6 lower on the week. Both
contracts posted solid gains Friday to erase most of the week’s heavy losses
that occurred on Monday. In addition to pressure from outside markets, export
sales were modest last week and the U.S. dollar posted four straight days of
strong gains. From a technical perspective, in spite of wide trading ranges
this week that took November rice futures down as low as $11.435,
the contract did manage to find support and settle no worse than the
$11.59-$11.60 area. Friday’s strong gains indicate prices may again retest the
$12 to $12.20 range.
CBOT Rough Rice futures settlements ($/cwt)
CME November 2015 Rough Rice, daily.
Crop Progress:
For the week ending August 23, U.S. rice harvest was 18%
complete, versus the five-year average of 16%. Harvest progress is well ahead
of the average pace in Louisiana at 75% complete. Texas is slightly behind
average at 55%. Arkansas is 6% harvested and Mississippi 10%, both of which are
in line with the five-year average.
Export Sales:
Net sales of long-grain rough rice totaled 13,856 metric tons
(MT) last week; up from 7,212 the previous week. Venezuela and Mexico
were the top buyers.
Long-grain milled rice net sales totaled 10,993 MT; down from
17,950 the week prior. Haiti and Saudi Arabia were the two largest
buyers.
Long-grain rough rice sales are running about 3% ahead of last
year, while long-grain milled rice sales are 75% ahead of last year. The
two large 60,000 MT sales to Iran and Iraq account for about 56% of new crop
milled rice sales to date. Iraq announced Monday a tender to purchase
30,000 MT of rice from the U.S., Uruguay, Argentina, Brazil and India.
Bidding will close on September 6, 2015.
Other News:
Egypt’s ministry of trade and industry announced Thursday a ban
on the export of all types of rice starting September 1. Last October
Egypt lifted a ban medium-grain rice exports. No indication was given as to how
long the export ban would remain in effect.
USDA-NASS released its’ August 1 Rice Stocks report Thursday. The total
U.S. rough rice stocks held on and off-farm on August 1, 2015 was 61% higher
than a year ago. On-farm stocks were 1.48 million cwt, compared to 305,000 cwt.
last year. Off-farm stocks were 41.3 million cwt., compared to 26.3 million a
year ago. Milled rice stocks were up nine percent from a year ago at 4.06
million cwt.
Looking specifically at Arkansas, a considerable amount of rough
rice has moved out of bins since June 1. At that time NASS estimated
there was 6.4 million cwt. (14.2 million bushels) held on-farm. As of
August 1, NASS estimates there is 940,000 cwt. (almost 2.1 million bushels) of
rough rice still in on-farm storage. As rice futures rallied this summer,
about 12.1 million bushels of rice moved out of on-farm storage between June 1
and August 1.
Fuel:
After trading as low as $37.75 Monday, crude oil futures made
very strong gains late in the week. The nearby October contract traded
Friday just above $45 per barrel. Diesel futures (Heating Oil) are
following crude oil sharply higher and now trade about 20 cents of the mid-week
lows at $1.59. This price correction in crude oil may extend into the $48 to
$54 range. The current price levels still represent a favorable diesel
buying opportunity in the cash market or as a level to start hedging 2016 fuel.
NYMEX Diesel (heating oil), daily nearby.
Upcoming USDA reports:
September 11 (11:00 a.m. central):
·
Crop Production
·
Supply/Demand (WASDE)
September 30 (11:00 a.m. central):
·
Grain Stocks
·
Small Grains Summary
NASS Crop Progress is released each Monday afternoon at 3:00 p.m. central.
NASS Rice Stocks. Next release date is October 29, 2015 at 11:00 a.m. central.
FAS Export Sales are released each Thursday morning at 7:30 a.m. central.
USDA-FSA information on projected 2014 and 2015 PLC payment
rates are available at this link:
Additional Information
Arkansas Rice Updates are published periodically to provide
timely information and recommendations for rice production in Arkansas.
If you would like to be added to this email list, please send your request to jhardke@uaex.edu.
This information will also be posted to the Arkansas Row Crops
blog (http://www.arkansas-crops.com/)
where additional information from Extension specialists can be found.
More information on rice production, including access to all
publications and reports, can be found at http://www.uaex.edu/rice.
Acknowledgements
We sincerely appreciate the support for this publication
provided by the rice farmers of Arkansas and administered by the Arkansas Rice
Research and Promotion Board.
The authors greatly appreciate the feedback and contributions of
all growers, county agents, consultants, and rice industry stakeholders.
http://www.arkansas-crops.com/2015/08/28/arkansas-rice-update-28-15/
India
APEDA Commodity News
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Searca study: State support to agriculture crucial as Asean economies
integrate
Threshing palay in Nueva Ecija,
file photograph by Bernard Testa, InterAksyon.com
Crucial support
Searca director Dr. Gil C. Saguiguit Jr. stressed the importance of the Mangabat study, since it delved into the reasons why the total factor productivity (TFP) for rice in the country was low, which means farmers do not maximize output from the use of fertilizer, other inputs, mechanization, labor, improved seeds and new technology.The Searca study confirmed that higher-yielding varieties now comprise 80 percent of the aggregate rice output of the country, Saguiguit noted.
What the 38-page paper showed was that better rice seeds, improved technology and irrigation, as well as optimal training of farmers are crucial factors that lead to higher yields, and these are the inputs that farmers gobbled up in the 1960s and 1970s to raise the aggregate output and achieve rice self-sufficiency for a spell.
Co stressed that a presentation by Dr. Flordeliza H. Bordey of the Philippine Rice Research Institute (PhilRice), who headed a 21-member team that conducted a study of rice production in six Asian countries from January 2013 to June 2013, confirmed that five rice-producing nations generally provided their farmers subsidies, counting China, India, Indonesia, Thailand and down to Vietnam.
Whose rice is cheapest?
The Bordey paper entitled "Who Produces Cheap Rice?" was presented during the Global Rice Market and Trade Summit held in Bangkok from October 30 to 31 last year.The Bordey study pointed out that, yield-wise, the Philippines harvested 6.34 metric tons (MT) per hectare, fourth among the six nations, with only Vietnam, Indonesia and China ahead.Production cost was lowest in India at $883 per hectare, followed by Vietnam at $1,059, Thailand at $1,207 and the Philippines at $1,479. China had the most expensive cost at $1,879, followed by Indonesia at $1,849.The level of mechanization in the Philippines was still low, and this has resulted in the country's employing 69 man days per hectare per cropping, largely due to manual harvesting and transplanting, second-worst to Indonesia's 80 man days per hectare.In contrast, Vietnam only expends 23 man days per hectare, far behind Thailand's 10 man days per hectare.
Even as Filipino rice producers use power threshers, the average power cost was still $204 per hectare, in roughly the same league as Thailand at $229 per hectare and China at $218 per hectare, although both countries use combine harvesters extensively.
Fertilizers and inputs
Fertilizer cost runs up to $229 per hectare for Filipino rice farmers, cheaper than $241 per hectare for Vietnam and $340 per hectare for China. An Indian farmer only spends $93 for fertilizers per hectare while an Indonesian rice producer pays only $139 per hectare.Co noted that for urea, a Filipino farmer spends $0.51 per kilo, the same price paid by a Thai farmer, but potash is most expensive in the Philippines at $0.76 per kilo.Pesticide use in the country is also declining, with rice farmers paying only $42 per hectare and applying pesticides and other inputs six times per season, the second cheapest cost among the six countries surveyed.Finally, the study said that the production cost for Philippine rice was $233 per MT, the cheapest among importing countries since the cost in China was $287 per MT and $277 per MT in Indonesia.
Among the exporters, the cheapest rice was in Vietnam at $156 per MT, India at $188 per MT and Thailand at $212 per MT.The rice exporting countries are hugely dependent on pesticides and other agricultural inputs to battle infestation even as they come out being cost-efficient and have the highest yield and lowest unit cost.
Subsidizing the industry
Buoyed by the Bordey findings, Piedad F. Moya, an economist and a team member from the International Rice Research Institute (IRRI), told participants in a PhilRice conference on September 3, 2014 that "subsidizing the agriculture industry is better than subsidizing farmers directly."She added: "The Philippines can be competitive, come ASEAN Integration, with the right support from the national government. Something must be done to the costly production of rice in the country."Moya explained that, in other Asian countries, the subsidy goes directly to the agriculture industry, in such forms as fertilizer and seed companies."In this way, every farmer benefits from the subsidy, compared to giving seeds directly to them because it is difficult to track if the seeds are fairly distributed," she stressed.As expected, Co said, the Philippines provided the least subsidy to its rice farmers, pushing farmers to pay 4% monthly interest to loan sharks who effectively "service" up to three out of four poor farmers trapped in the debt cycle.
Small farm holdings
In batting for rice self-sufficiency, the Searca team led by Mangabat pointed out in their paper titled "Productivity in the Rice Sector in Philippine Agriculture" that "rice is cultivated in small farms that average slightly higher than a hectare."It is the major source of livelihood of most small farmers and agricultural landless workers. It is in consideration of the small farm characteristics that increasing the incomes of rice households remains a big challenge."Hence, the continuing objective of the country's agriculture sector is to increase yields in pursuit of self-sufficiency for his major grain as well as to increase incomes and improve household welfare."
Irrigation
Co explained the Searca study was correct in arguing for irrigation coverage that is much higher than the 68% (roughly two thirds) of all rice farms being served today.The Bordey study confirmed that China, India, Thailand, Indonesia and Vietnam provides free irrigation services, while the National Irrigation Administration (NIA), complained farmers belonging to the Kilusang Magbubukid ng Pilipinas (KMP), charges them five cavans of palay or P4,500 for every hectare watered for an entire year.Without irrigation for the thirsty rice paddies, Co said, farmers would incur more losses and turn to the loan sharks with their 4% per month interest, while Thai farmers pay only 0.6 percent in interest to lenders.Co said that, with up to 75% of poor farmers dependent on informal lenders, the situation effectively renders both the Land Bank of the Philippines (LBP), which does not lend to individual farmers anyway, and the rural banks, hugely irrelevant.
http://www.interaksyon.com/article/116867/searca-study-state-support-crucial-as-asean-economies-integrate 31/08/2015
Vietnam focuses on coastal eco-system,
mangrove forest protection
The safeguard of coastal eco-system and mangrove forest in the
Mekong Delta region will be given a push as phase two of the Integrated Coastal
Management Programme (ICMP) recently kicked off in An Giang province.The ICMP, built with a total budget of 8.8 million EUR (US$9.7
million) sourced from the German, Australian, and Vietnamese Governments, will
be carried out during 2015-2018 in An Giang, Kien Giang, Bac Lieu, Ca Mau, Soc
Trang provinces. It aims to efficiently manage and protect coastal ecosystems
in the Mekong Delta region to mitigate and adapt to environmental hazards
related to climate change.According to ICMP Director Nguyen Van Son, the ICMP
phase two will focus on evaluating climate change impacts on the Mekong Delta
region and piloting charging forest environment fees among fish farms in Ca Mau
province.Technical and economic norms, mangrove tree planting techniques,
building regulations on protective forest management as well as improvements in
the cultivation of rice, fish and shrimp will be introduced through the
programme.
The project will give support to the large-scale rice field
programme and rice cultivation in response to climate change while coordinating
with the International Rice Research Institute (IRRI) and the Mekong Delta Rice
Research Institute (CLRRI) in applying information and technology to manage
rice cultivation.In addition, it builds strategies and aquaculture investment
plans in the region as well as accelerate aquaculture production in mangrove
areas and construction of wave-breaks in Tran Van Thoi district, Ca Mau
province.
Son, who is also Vice Director of the forest project management
board under the Ministry of Agriculture and Rural Development, underscored that
the ICMP will work with the United Nations Environment Programme (UNEP) and
Blue Solution to build a water management process and an inter-provincial
irrigational system in Long Xuyen quadrangle.During the framework of the
programme, representatives joined a field trip to study the rice-shrimp
transformation model in Phu Thuan commune, Thoai Son district, An Giang
province.The first phase of the project was implemented from 2011 to 2014.
http://english.vietnamnet.vn/fms/environment/140124/vietnam-focuses-on-coastal-eco-system--mangrove-forest-protection.html
Amber Rice
Training Georgia's Future Agriculture Teachers at UGA Tifton
Friday, August 28th, 2015
The newest addition to the
University of Georgia Tifton Campus faculty has a hefty goal: train the best
agriculture teachers in the nation and produce enough graduates to fill all of
the open agricultural education teaching positions in Georgia.Amber Rice, who
joined UGA prior to the beginning of fall semester, specializes in agricultural
education and has a 75 percent teaching appointment. Agricultural education is
the campus’ most popular major, with 26 students enrolled in the major this
fall.
Amber Rice teaches in the ALEC
Department on the UGA Tifton Campus. Image credit: Clint Thompson/UGA.
Working in an agricultural
community like Tifton and becoming a member of the college faculty was an
opportunity Rice could not pass up. She cherishes the one-on-one training she’s
able to provide students on a small campus like UGA Tifton.“I really enjoy
working with students. I like the small atmosphere of the Tifton Campus with
the resources and perks of being at a land-grant university like UGA,” Rice
said. “Especially with these students, probably 95 percent of them are going to
be agriculture teachers. Everybody has their own strengths and things they want
to work on. Having that personal relationship and being able to work with each
individual student, I feel like it’s going to make them better teachers in the
classroom.”
The number of agriculture
teachers and programs is growing rapidly in Georgia. Kelsey said there are more
than 38,000 National FFA Organization members, up from 35,000 two years ago.
Agriculture teachers typically serve as advisors for these students.But, the
number of UGA students interested in becoming teachers is decreasing. There
were more than 50 agriculture teacher openings in Georgia last year, but only
25 new UGA agricultural education graduates were available to fill them.“The
rest came from other states, other disciplines (science teachers) and industry
(people) who were not traditionally certified,” said Kelsey.Rice says the
shortage of qualified agriculture teachers is a problem across the nation.
“We’re just not producing enough
to fill all the positions,” she said. “Last year, 100 percent of our
agriculture teachers found jobs. The industry wants them. They want our Tifton
graduates. There are jobs for them in Georgia.”To learn more about the
agricultural education program on the UGA Tifton Campus or to contact Rice,
call (229) 386-3528. Information about the academic program at UGA Tifton can
also be accessed at caes.uga.edu/campus/tifton.
USA Rice
Participates in FECARROZ Meeting
FECARROZ
From left: Ernesto Baron (USA Rice), Jacobo Paz
Bodden (Minister of Agriculture - Honduras), Sady Andonie and Jose Velez
(INDECASA-- largest rice mill in Honduras)
ROATAN, HONDURAS—
The Central American Rice Federation (FECARROZ)
invited USA Rice here earlier this month to present at their board of directors
meeting. USA Rice provided an update on
the current U.S. crop and also discussed USA Rice's proposal to develop a
FECARROZ standard in order to minimize variability in the quality of rice that
is exported. Several variety
developments from both the public and private sectors were discussed during the
presentation; these varieties specifically address the requests and needs of
the Central American consumer. The
progress in varietal development was well received as several attendees still
had concerns about chalk and amylose content in U.S. rice.
"These types of meetings go a long way in
strengthening rice industry relations between our countries," says Ernesto
Baron, USA Rice's representative for the region. "We continue to look for opportunities
for USA Rice and its members to engage with our international consumers."
Michel Hawit
During the meeting, a new FECARROZ Director was
elected for a two-year term. Michel
Hawit, president of Baprosa (rice mill) in Honduras, replaced outgoing Director
Mario Solórzano, a rice miller from Guatemala. "I would like to thank
Mario Solórzano for an excellent job leading this organization and congratulate
Michel Hawit on his election as the new president of FECARROZ. We are looking forward to our two
organizations continuing to work together," said Betsy Ward, president and
CEO of USA Rice.
USA Rice also spoke about our region's
promotional activities aimed at increasing U.S. rice consumption. Currently, USA Rice conducts promotional
activities in Guatemala, Honduras and El Salvador. Activities are primarily aimed at the retail
level and encouraging rice usage amongst consumers. FECARROZ expressed interest in working
together on several marketing campaigns, to increase the usage of rice in the
region.Central America, as a region, is our third largest export market this
year at over 260,000 MT through June.
Crop
Progress: 2015 Crop 97 Percent
Headed
|
WASHINGTON, DC -- Ninety-seven
percent of the nation's 2015 rice acreage is headed, according to today's
U.S. Department of Agriculture's Crop Progress Report.
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CME Group/Closing Rough Rice
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Mustard: An ingredient for every meal
BY
NATASCIA LYPNY, LEADER-POST
Salty mustard peanut brittle at the Great Saskatchewan Mustard Festival
held at Willow on Wascana in Regina on Aug. 30, 2015. (Michael Bell/Regina
Leader-Post)
Photograph by: Michael Bell , Regina Leader-Post
REGINA — This ain’t your French’s-on-a-hotdog mustard.For eight
years, the Great Saskatchewan Mustard Festival, held Sunday in Regina, has
striven to prove that mustard is so much more than a condiment; it’s a standout
ingredient in its own right.“The food’s fantastic, and that’s because there are
some immensely talented chefs in Regina, in Saskatchewan, and they come here
and they show off,” said organizer Greg Hanwell of Beer Bros. and Willow on
Wascana, where the event was held.
“When you take a Saskatchewan product like mustard and you put it
in the hands of these chefs, you got a winner.”Hanwell said the event also
serves as an important showcase of local talent and local ingredients.“This is
showing people, ‘This is the talent here. This is how good the food is in
Saskatchewan if you give it a shot,’” he said.
The Leader-Post set out to determine whether the festival’s 24
culinary creators could prove that mustard is good any time of day.
Breakfast
Often a stranger to mustard, breakfast was a toughie to pin down —
until bacon’s cousin was located.Crave sizzled up some slow-roasted,
mustard-crusted porchetta doused in honey mustard aioli. It was served with
local lemon and English cucumbers flavoured with dill and mustard. A dill
pickle with mustard and veggie skewer were served on the side.
Lunch
Sprout Catering whipped out mustard and turmeric cream puffs. They
were served as sliders with chicken marinated in a spicy mustard hot sauce for
24 hours, topped with a maple Dijon mustard sauce.
A side of potato salad made with Dijon mayonnaise and toasted
mustard seeds, and sprinkled with pickled mustard seeds, rounded out that meal.
Snack
Bocados concocted a creative spin on peanut brittle for midday
cravings.
Roasted peanuts dry dusted in salt were combined with mustard
powder and jalapeno juice, then added to a traditional peanut brittle recipe.
Supper
A pub favourite, butter chicken was on hand at the Beer Bros.
station.
The curry was fashioned with five different kinds of mustard and
poured over a mustard-infused basmati rice.
Dessert
Mustard and sweets aren’t the strangers you might think they are.
Orange Boot Bakery produced apricot mustard turnovers spiced with buttermilk
caramel and creme-anglaise.The event was packed with mustard enthusiasts: More
than 1,500 were expected to attend.A mustard festival first, Hanwell hopes the
proceeds stemming from the hundreds of visitors can support scholarships in the
culinary arts.
twitter.com/wordpudle
http://www.leaderpost.com/index.html
Dow Chemical, ICS-CAAS Team Up for China Rice Development
The Dow Chemical Company 's DOW fully-owned subsidiary Dow
AgroSciences LLC has signed a collaboration agreement with the Institute of
Crop Sciences of the Chinese Academy of Agricultural Sciences (ICS-CAAS). Per
the agreement, Dow AgroSciences provided ICS-CAAS a royalty-free,
non-transferable research and commercialization license for its patented EXZACT
Precision Genome Editing Technology that will be used in rice in China. Both parties intend to develop an industry-leading rice genome
editing technology platform through this partnership. They further believe that
this platform will help the scientists of ICS-CAAS to reap the benefits of
their major investment and technical expertise in rice genomics,
transcriptomics, proteomics, and cell biology. It will also enhance their
scientific knowledge about rice, thereby enabling them to develop advanced
products for China.
Shares of Dow rose around 6.2% to close at $43.60 on Aug 27.
Shares of Dow rose around 6.2% to close at $43.60 on Aug 27.
Dow AgroSciences was previously
granted an exclusive license by Sangamo BioSciences, Inc. under a collaborative
agreement, per which, the company developed the EXZACT Precision Technology
platform. Both Dow AgroSciences and ICS-CAAS will now combine their expertise
and capabilities, and use this platform to further rice research and product
development in China.
According to ICS-CAAS, the collaboration is a significant step as it will speed up the development of rice genome editing technology platform in China. Moreover, it will aid the development of significant new agronomic traits in rice.
According to Dow AgroSciences, being a strategic partner of China for agricultural sustainability, this is part of its commitment to provide innovative and sustainable solutions to increase food security and safety in China. The EXZACT Precision Technology collaboration with ICS-CAAS is proof of Dow's commitment toward improving rice research and product development for continued food security in China.
Dow currently has a Zacks Rank #3 (Hold).
Better-ranked stocks in the chemical space include Innospec Inc.
According to ICS-CAAS, the collaboration is a significant step as it will speed up the development of rice genome editing technology platform in China. Moreover, it will aid the development of significant new agronomic traits in rice.
According to Dow AgroSciences, being a strategic partner of China for agricultural sustainability, this is part of its commitment to provide innovative and sustainable solutions to increase food security and safety in China. The EXZACT Precision Technology collaboration with ICS-CAAS is proof of Dow's commitment toward improving rice research and product development for continued food security in China.
Dow currently has a Zacks Rank #3 (Hold).
Better-ranked stocks in the chemical space include Innospec Inc.
, LyondellBasell Industries N.V.
and Akzo Nobel N.V.
. While Innospec sports a Zacks Rank #1 (Strong Buy), both
LyondellBasell and Akzo Nobel carry a Zacks Rank #2 (Buy).
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http://www.nasdaq.com/article/dow-chemical-ics-caas-team-up-for-china-rice-development-cm515222
Drought affects 185,451 hectares of rice
seedlings in Cambodia
Xinhua
Monday, 31 August 2015
PHNOM PENH (Xinhua) -- Some 185,451 hectares of rice seedlings
have been affected by drought in some areas in 13 provinces and cities of Cambodia,
according to a report by Agriculture Minister Ouk Rabun, released to the media
Monday.
"A lack of water has affected 185,451 hectares of rice fields in which 9,240 hectares have been completely damaged," the minister wrote in a report sent to Prime Minister Hun Sen.
"A lack of water has affected 185,451 hectares of rice fields in which 9,240 hectares have been completely damaged," the minister wrote in a report sent to Prime Minister Hun Sen.
Rains usually begin to fall from May of the year, but this year, an early-season drought lasting a long time has resulted in a lack of water. He said so far, the country has planted more than 2.12 million hectares of rice seedlings in equivalent to 82.7 percent of the 2. 57-million-hectare production target.Agriculture is one of the four major pillars supporting the country's economy. The Southeast Asian nation produced over 9 million tons of paddy rice last year.
http://www.khmertimeskh.com/news/15134/drought-affects-185-451-hectares-of-rice-seedlings-in-cambodia
Drought affects 185,451 hectares of rice
seedlings in Cambodia
2015-08-31 16:17:27
PHNOM PENH, Aug. 31 (Xinhua) -- Some 185,451
hectares of rice seedlings have been affected by drought in some areas in 13
provinces and cities of Cambodia, according to a report by Agriculture Minister
Ouk Rabun, released to the media Monday."A lack of water has affected
185,451 hectares of rice fields in which 9,240 hectares have been completely
damaged," the minister wrote in a report sent to Prime Minister Hun Sen.Rains
usually begin to fall from May of the year, but this year, an early-season
drought lasting a long time has resulted in a lack of water.
He said so far, the country has planted more
than 2.12 million hectares of rice seedlings in equivalent to 82.7 percent of
the 2. 57-million-hectare production target.Agriculture is one of the four
major pillars supporting the country's economy. The Southeast Asian nation
produced over 9 million tons of paddy rice last year.
The government
allocates highest amount in the history for purchasing paddy.
137 stores countrywide have been prepared to store the
stocks. The Board says the farmers have showcased high interest on
selling Paddy to the Government due to the certified price. According to
the Board, only half of the allocated money has so far been spent.
Meanwhile, Prime Minister Ranil Wickramasinghe has advised the Board to deploy
lorries to some centers to carry Paddy stocks for the convenience of the
farmers.
Rice price
enticer
CARA JEFFERY
31 Aug, 2015 04:00 AM
SunRice chief executive
officer, Rob Gordon, and SunRice chairman and grower Laurie Arthur, Moulamein,
with the new range of SunRice Brown Rice Chips at the compay's annual general
meeting at Jerilderie.
Meanwhile, the final 2014 pool
price for medium grain - $394.62/t - was up 34.4pc on last year, while
specialist variety Koshihikari was $524.62/t, up 30pc."For 2014 we made
paid more than $330 million in paddy payments to our A-class shareholders
(growers) reflecting our commitment to Riverina-grown rice both now and into
the future," he said."These strong returns were made possible by
SunRice's sole and exclusive export licence which allows us to maximise prices
for NSW growers in export markets."More than $17m was also paid in
dividends to B-class shareholders, about 68pc of whom are also growers (A-class
shareholders)
SunRice paid a record fully franked 31 cents a share to its
B-class shareholders in 2014-15 - up 34.8pc on the previous year.In total, this
represented a payout ratio of 40pc.SunRice chief executive officer Rob Gordon
said SunRice Group's consolidated revenue of $1.25 billion for the trading year
to April 30 was up 8.3pc on the previous year's $1.15b.The company is enjoying
an enviable position where global demand for its bulk and value-added products
far outstrips the rice supply southern NSW growers can deliver.
But this demand comes at a time
when water allocations are at new lows and coincides with high temporay water
prices luring growers to plant cotton, corn and nut crops in place of rice.The
2015 harvest resulted in a delivery of 690,215t from Australian growers - a far
cry from the 1.15m tonnes of rice required to supply premium markets secured by
SunRice.To make up the shortfall SunRice sourced rice internationally to go to
markets requiring Australian quality rice but not specifically Australian
grown.
"We encourage our growers to
plant as much rice as they can in what we know are very difficult
circumstances," Mr Arthur said.Mr Gordon said ideally SunRice wanted to
receive 900,000t from the Riverina - the 2014 harvest was close to the mark
with 830,000t delivered."We are very conscious of water availability and
pricing ahead of the next planting in the Riverina and while continuing to
encourage local production, we are also putting in place contingency plans for
a smaller crop than the one delivered this year," he said.Mr Gordon also
delivered an update on the SunRice Group's strategy and outlook noting net
profit after tax lifted 46.8pc to $49.2m for 2014-15.
The company anticipated group profit in 2015-16 would be broadly
in line with the past year's result "subject to the continuation of
existing market conditions".However, the group faced a number of
challenges in the year ahead."We continue to closely monitor a number of
issues which impacted the risk profile for Trukai (the Papua New Guinea subsidiary)
in the past year, including the liquidity of the Kina and the the PNG
government's intention to develop a policy that seeks to align investment in
the local industry with the right to import rice," he said
ASX listing
decision set for October
The SunRice board will not make a
decision on its long-running capital structure review and the proposed listing
of a SunRice Fund on the Australian Securities Exchange (ASX) until October.
Company bosses are continuing to
consult with their 2200 growers and shareholders and an announcement on whether
the proposal will be put to a shareholder vote is still about two months away."The
board and I firmly believe the potential new capital structure is an
opportunity to retain grower control into the future while securing our capital
base and building a business that can carry us forward for generations to
come," chairman Laurie Arthur told shareholders last week.
"The potential model will
improve SunRice's ability to access capital beyond what is available under the
current model, while preserving the key features that exist today, including
enduring A Class grower shareholder control."He addressed several
misnomers regarding the proposed capital restructure including fears grower
control of the business was at stake.He said the model was enduring and did not
include clauses or any elements that had seen other agricultural companies lose
control on the ASX.
"The model separates A-class
shareholder control from SunRice business investors to protect both sets of
interests - investors will not have trading rights in SunRice and they cannot
acquire them in the future without A class shareholder approval," he said."If
the proposal does go forward SunRice will not be listed on the ASX- a separate
legal entity known as the SunrRice Fund would be listed on the ASX."SunRice
will remain intact exactly as it is today- with the same board, management and
business structure."Investors are acquiring a non-voting security, all
they can receive is a dividend from SunRice."
http://www.farmonline.com.au/news/agriculture/agribusiness/general-news/rice-price-enticer/2741413.aspx?storypage=0
Former Thai PM appears
at Supreme Court over doomed rice subsidy scheme
BANGKOK |
Ousted former Thai Prime Minister
Yingluck Shinawatra gestures as she arrives at the Supreme Court in Bangkok,
Thailand, August 31, 2015.
REUTERS/CHAIWAT
SUBPRASOM
Former Thai Prime Minister Yingluck Shinawatra appeared before
the Supreme Court on Monday to review evidence in a case involving rice
subsidies that haemorrhaged billions of dollars and could see her jailed for up
to 10 years for negligence.Yingluck's flagship election policy helped sweep her
to office in a landslide in 2011, but its failure saw her banned from politics
for five years in January by a legislature appointed by the generals who
toppled her government.The grain policy, which has since been discontinued,
aimed to boost farmers' incomes by buying their rice at above market prices.
Yingluck's government was attacked for refusing to abandon the
scheme when the rice and debt piled up.It caused an estimated $16 billion in
losses and left Thailand with a rice mountain it is still
struggling to shift. The current stockpile is 13.9 million tonnes.Prosecutors
on Monday provided an evidence dossier of 60,000 pages and 23 additional
witnesses in the case."These were not seen or reviewed (by all
parties)," Yingluck told reporters. "Today we're going to hear about
this and hope that we will get justice."
She insists she acted honestly in administering the policy,
which was widely criticised for distorting global prices and saw Thailand lose its crown as the world's top
rice shipper.Yingluck, 48, was greeted with applause and handed red roses by a
crowd of supporters as she arrived at the court."I came to give moral
support," said Sangiam Thongnak, 61. "She did the right thing."
Yingluck's supporters see the court case as another strike by a
royalist establishment threatened by the rapid political rise of a clique of
upstart capitalists from outside Thailand's traditional patronage network.
She won millions of votes by reviving the populist policies of
her billionaire brother and former premier Thaksin Shinawatra, whom the Supreme
Court jailed in absentia in 2008 for abuse of power, two years after he was
ousted in a coup.Prosecutors expect the Supreme Court proceedings to last at
least six months. Some experts have said the junta risks a backlash if
Yingluck's supporters perceive the verdict as unfair.(Additional reporting by
Juarawee Kittisilpa; Writing by Martin Petty; Editing by Nick Macfie)
http://uk.reuters.com/article/2015/08/31/uk-thailand-politics-idUKKCN0R00EA20150831
FG to
Review Import Policy on Rice, Fish, Others
31 Aug 2015
The Permanent Secretary, Federal Ministry of Agriculture and
Rural Development (FMARD), Mr. Sonny Echono, has disclosed that within the next
three years, the federal government will review the import policy on staple
food items such as rice, fish and wheat into the country.
Echono, who disclosed this in Abuja during a meeting with the Executive Secretary of the Nigerian Investment Promotion Commission, Uju Hassan-Baba, described the current import policy on staple foods as “unfavourable,” adding that it would ensure that Nigeria becomes self sufficient in food production before the restriction of the importation of these food items.
According to a statement from the ministry on Sunday and obtained by the News Agency of Nigeria (NAN), Echono said: “The ministry would in the next three years seek the review of the current unfavourable policy by the federal government which allows the importation of staple food items such as rice, wheat and fish into the country.”
He also stressed the need to link Nigerian farmers to the market, adding that it was one of the critical factors that would determine productivity and incomes of farmers as well as promote exports through value addition.The statement noted that the ministry and the Nigeria Investment and Promotion Commission (NIPC) had resolved to partner in the promotion of strategic investments in the agricultural sector.It said the permanent secretary in the FMARD, together with the executive secretary of NIPC, made the resolution when the investment promotion commission’s boss paid Echono a working visit in his office.
Echono underscored the need for attraction of more investments in the sector and explained that Nigeria had comparative advantage in the development of agricultural sector in view of its vast arable land, huge population and markets.
He pointed out that the main target of the ministry was to
guarantee food security for the country as well as export food items to other
countries in the West African sub-region.In her reaction, Hassan-Baba called
for the reestablishment of synergy that had existed over the years between the
commission and the agriculture ministry.She said there had been an increase in
the demand of market information on agricultural activities in Nigeria by
foreign investors, adding that a desk officer from the Ministry should be
posted to the NIPC’s one-stop shop.The NIPC boss further disclosed that the
commission would organise stakeholders’ forum on promoting investment in the
agricultural sector, noting that the ministry had a critical role to play in
order to ensure the success of the proposed forum which comes up in Abuja soon.
http://wwaw.thisdaylive.com/articles/fg-to-review-import-policy-on-rice-fish-others/218964/
