Thursday, February 25, 2016

25th February,2016 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

Cuba Signs New Credit Agreements with China to Develop Rice Sector

Feb 24, 2016

The government of Cuba has signed new credit agreements with the Export-Import Bank of China (Eximbank) to receive support from the East Asian nation for the development of agriculture and railroad programs, according to local sources.
The amounts would be used to purchase medium and high power tractors to boost rice production and railroad passenger cars.
This is the fourth line of credit that Cuba obtains from China, and is mainly aimed at increasing local rice production, according to the Cuban Deputy Minister of Finance and Prices. He also noted that the credit would be used for other joint projects linked to the country's strategic programs.
Cuba currently produces only half of its annual rice consumption needs and imports the rest. USDA estimates Cuba to produce around 395,000 tons of milled rice and import around 500,000 tons of rice in MY 2015-16 (July - June) to meet a consumption demand of around 895,000 tons. Cuba currently imports rice from Brazil, India and Thailand.

FAO Forecasts Iran to Import 1.2 Million Tons of Rice in 2015-16 Despite 17% y/y Increase in Production

Feb 24, 2016

The UN's Food and Agriculture Organization (FAO) forecasts Iran to import about 1.2 million tons of rice in 2015-16 (April-March) despite an increase in 2015 paddy rice production. It forecasts the country's total cereal imports to decline about 35% y/y to around 10 million tons.
The FAO estimates Iran's 2015 paddy rice production to increase by about 17% to around 2.7 million tons from around 2.3 million tons during the previous year. 
Planting for 2016 paddy rice crop will begin in May.

EU Imports 572,619 Tons of Rice in September 1, 2015 - February 16, 2016; Up 23% from Previous Year

Feb 24, 2016
According to the latest data issued by the European Union (EU), rice imports by the EU increased sharply since the beginning of the crop year 2015-16 (September 1, 2015 - August 31, 2016).
The EU imported about 572,619 tons of rice during the period September 1, 2015 - February 16, 2016, up about 22.5% from around 467,256 tons imported during the same period last year.
Japonica rice imports increased about 43% to around 59,570 tons in September 1, 2015 - February 16, 2016 period from around 41,741 tons during the same period last year. Indica rice imports increased about 20.6% to around 513,049 tons during the said period from around 425,515 tons last year.
The UK remained the largest importer in September 1, 2015 - February 16, 2016 period with around 127,867 tons followed by France (95,218 tons), The Netherlands (64,495 tons), Germany (60,871 tons), Poland (41,907 tons), ,  and Italy (40,210 tons). Other EU countries imported 142,051 tons.
During the week ended February 16, 2016, the EU imported around 42,196 tons of rice, up about 43% from around 29,564 tons imported during the week ended February 9, 2016.
The EU imported around 1.143 million tons of rice in the crop year 2014-15, up about 12.7% from around 1.013 million tons imported in the crop year 2013-14.
Global Rice Quotes

February 24th, 2016
Long grain white rice - high quality
Thailand 100% B grade          365-375           ↔
Vietnam 5% broken    350-360           ↔
India 5% broken         360-370           ↔
Pakistan 5% broken    335-345           ↓
Myanmar 5% broken   420-430           ↔
Cambodia 5% broken             410-420           ↔
U.S. 4% broken           455-465           ↓
Uruguay 5% broken    445-455           ↑
Argentina 5% broken 435-445           ↑
Long grain white rice - low quality
Thailand 25% broken 345-355           ↔
Vietnam 25% broken 340-350           ↔
Pakistan 25% broken 305-315           ↔
Cambodia 25% broken           395-405           ↔
India 25% broken       325-335           ↔
U.S. 15% broken (sacked)      440-450           ↔
Long grain parboiled rice
Thailand parboiled 100% stxd            365-375           ↔
Pakistan parboiled 5% broken stxd    NQ      ↔
India parboiled 5% broken stxd         350-360           ↔
U.S. parboiled 4% broken       480-490           ↔
Brazil parboiled 5% broken    520-530           ↔
Uruguay parboiled 5% broken            NQ      ↔
Long grain fragrant rice
Thailand Hommali 92%          670-680           ↓
Vietnam Jasmine         415-425           ↔
India basmati 2% broken        NQ      ↔
Pakistan basmati 2% broken   NQ      ↔
Cambodia Phka Mails             760-770           ↔
Brokens
Thailand A1 Super      325-335           ↔
Vietnam 100% broken            325-335           ↔
Pakistan 100% broken stxd    285-295           ↔
Cambodia A1 Super   335-345           ↔
India 100% broken stxd         260-270           ↔
Egypt medium grain brokens NQ      ↔
U.S. pet food 280-290           ↔
Brazil half grain          NQ      ↔
All prices USD per ton, FOB vessel, oryza.com

Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Rebound Slightly as Mixed U.S. Grains Provide Little in the Way of Price Guidance

Feb 25, 2016

Chicago rough rice futures for Mar delivery settled 6.5 cents per cwt (about $1 per ton) higher at $10.660 per cwt (about $235 per ton). The other grains finished the day with mixed results; Soybeans closed about 0.1% lower at $8.7250 per bushel; wheat finished about 1% lower at $4.5125 per bushel, and corn finished the day about 0.6% lower at $3.6450 per bushel.
U.S. stocks traded mostly lower Wednesday, with financials leading declines, as investors watched for stabilization in oil prices. The major U.S. averages came well off session lows in midday trade as oil recovered from a sharp overnight decline to trade near $32 a barrel. Financials traded about 1% lower to lead S&P 500 decliners, while energy and materials reversed losses to trade higher. The S&P briefly fell below the psychologically key 1,900 level, although the index traded more than 10% below its 52-week intraday high, in correction territory along with the Dow and Nasdaq composite.
Traders said there was not a fundamental reason for the decline in stocks following the services PMI given the light trade volume and the relative newness of the indicator. European stocks closed about 2% lower or more. The STOXX Europe 600 fell nearly 3%, ending almost 40% below its 52-week intraday high. Overnight, the Chinese yuan midpoint fix was also set slightly weaker against the dollar. However, the Shanghai composite closed about 0.9% higher while most Asian equities declined. In midday trade, the Dow Jones industrial average fell 120 points, or 0.73%, to 16,311. The S&P 500 declined 11 points, or 0.58%, to 1,910, with financials leading nine sectors lower and telecommunications the only decliner. The Nasdaq composite fell 11 points, or 0.27%, to 4,491. Gold is seen trading about 1.3% higher, crude oil is seen trading about 0.1% higher, and the U.S. dollar is seen trading about 0.1% lower at about  1:30pm Chicago time.
Tuesday, there were 3,959 contracts traded, up from 3,243 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday increased by 189 contracts to 12,773. 

Higher Domestic Prices May Increase Japanese Rice Imports, Say Traders

Feb 24, 2016

Japanese rice traders are expecting the country to import more rice this year due to an increase in domestic prices, according to Asian Nikkei.
Domestic prices are said to have increased about 10% y/y to around 227 yen per kilogram (around $2,021 per ton) excluding taxes in January this year due to higher demand from the animal feed industry. The government is keen on increasing the use of rice for animal feed and reduce the use of corn and wheat.
They told reporters that meanwhile export prices of medium-grain polished Californian rice, which many Japanese restaurants use together with domestic rice, has declined about 17% y/y to around $775 per ton (around 87 yen per kilogram) in January this year. Californian rice prices increased over the last few years due to four consecutive years of drought. Traders attributed the fall in prices to a likely increase in California rice supply this year due to resumption of rains allowing farmers to plant more rice. They also noted that Californian rice prices have declined due to a fall in demand from the Middle East countries due to drought-related high prices.
The domestic prices are nearly two-and-half times the Californian rice, up from less than twice the price in 2014. A trader noted that due to a short supply of low-priced rice for commercial use, most of the restaurants are considering imported rice.
Therefore, traders are opining that the widening gap between the domestic and imported prices could prompt more rice imports this year.
Japan's imports under the "simultaneous buy-sell" system have doubled so far in FY 2015-16 (April-March) to 22,000 tons. But they are below the maximum annual import threshold of 100,000 tons


Thailand Sets 2016 Rice Export Target at 9.5 Million Tons, Down 5% from Last Year

Feb 24, 2016

The government of Thailand has set its 2016 rice export target at around 9.5 million tons, down about 5% from around 10 million tons exported in 2015, due to a likely impact of extending drought conditions on this year's production, Reuters quoted a senior official from the Thai Commerce Ministry.
The Director-General of the Ministry's Foreign Trade Department noted that lower supplies from this year's crop may lead to an increase in Thai rice prices. 
She also noted that the Commerce and Agriculture Ministries have prepared 10 billion baht (around $278 million) worth of measures to stabilize prices. Some of the measures include buying rice from farmers and storing it temporarily, she said.
Separately, the Thai Prime Minister reportedly urged farmers to cultivate less rice to cope with the intensifying water crisis. "We have to find measures to motivate rice farmers to change to other crops (than rice)," he was quoted.
The military government currently holds about 12 million tons of rice in its stockpiles and is keen on clearing the stocks by the end of next year.
In a recent report, the USDA Post forecast Thailand's MY 2015-16 (January - December 2016) paddy rice production at around 24 million tons, down from last year's 29.4 million tons. It forecast Thai off-season paddy production to decline about 57% y/y to around 3.1 million tons.

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

Feb 24, 2016

Thailand rice sellers lowered their quotes for Hommali rice by about $10 per ton  to around $670-$680 per ton today. Pakistan rice sellers lowered their quotes for 5%broken rice by about $5 per ton to around $335-$345 per ton. Other Asia rice sellers kept their quotes unchanged today.                       
5% Broken Rice
Thailand 5% rice is indicated at around $355 - $365 per ton, about $5 per ton premium on Vietnam 5% rice shown at around $350 - $360 per ton. India 5% rice is indicated at around $360 - $370 per ton, about $25 per ton premium on Pakistan 5% rice shown at around $335 - $345 per ton.
25% Broken Rice
Thailand 25% rice is indicated at around $345 - $355per ton, about $5per ton premium on Vietnam 25% rice shown at around $340- $350 per ton. India 25% rice is indicated at around $325 - $335 per ton, about $20 per ton premium on Pakistan 25% rice shown at around $305 - $315 per ton.
Parboiled Rice           
Thailand parboiled rice is indicated at around $365 - $375 per ton. India parboiled rice is indicated at around $350 - $360 per ton, about $55 per ton discount to Pakistan parboiled rice last shown at around $405 - $415 per ton.
100% Broken Rice
Thailand broken rice, A1 Super is indicated at around $325 - $335 per ton, on par with Vietnam 100% broken rice shown at around $325 - $335 per ton. India's 100% broken rice is shown at around $260 - $270 per ton, about $25 per ton discount to Pakistan broken sortexed rice shown at around $285 - $295 per ton.

World Bank Economist Advises Philippines to Open Rice Import Market

Feb 24, 2016

The World Bank Lead Economist advised the government of the Philippines to remove quantitative restrictions on rice imports and open the rice import market to avoid unnecessary price increases and enhance the efficiency of the rice sector, according to the Manila Times.
Speaking at the Manila Times’ 3rd Business Forum, he noted that the government's current policy of monopolizing the rice imports is not in the interest of the farmers and the country. He also noted that the policy will not work to increase the net income of the farmers or check the retail rice prices.
He stated that the government is failing to achieve the rice self-sufficiency due to a significant gap between production and consumption. He said the government's policy of “buying high” from farmers and “selling low to the poor” suggests increasing inefficiency". He stressed that opening the rice import market would correct these inefficiencies as traders have sufficient time to import and thus domestic rice price increases can be avoided.
He suggested that the government should remove the QRs and tariff quotas in the medium term, and should "progressively reduce" tariffs in the long term to achieve desired results.
He also noted that investments in agricultural productivity, specifically on research and development, agricultural extension, rural infrastructure such as roads irrigation and electrification; secure property rights; and farmers’ health and education are important to increase the efficiency of the rice sector.

Myanmar Commerce Ministry Estimates 2015-16 Rice Exports to Decline Sharply

Feb 24, 2016

Myanmar's Ministry of Commerce is estimating the country's rice exports to fall sharply in FY 2015-16 (April - March) based on the current pace of exports, according to Irrawaddy News.
The Ministry data shows that Myanmar has so far in this fiscal year exported about 1.037 million tons, down about 17% from around 1.255 million tons exported during the same period last year. Myanmar exported 1.84 million tons of rice in FY 2014-15, with China accounting for about 70% of the country's exports.
“We won’t match last year’s record, with the major reasons being the floods last year [in July and August] and the fact that some rice exporters and traders are concerned about not having rice for the summer [because of El NiƱo], so they’re storing rice,” the Director of the Ministry of Commerce was quoted. He also noted that traders are prepared for higher rice prices due to likely low production.
Last week, the Myanmar Rice Federation (MRF) has urged the government to prepare rice reserves due to likely lower output from extending dry conditions.
According to official figures, Myanmar produced about 13 million tons of milled rice in FY 2014-15 from around 57.5 million hectares of land. USDA estimates Myanmar to produce about 12.2 million tons of rice in MY 2015-16 (January – December 2016). It estimates Myanmar to export  about 1.8 million tons in 2016.

Uganda Needs Improved Farming Tools to Boost Rice Production, Say Experts

Feb 24, 2016

Experts emphasized the need for improved and modernized farming tools to boost Uganda's rice production, according to All Africa.
The Director of the National Crops Resources Research Institute (NaCRRI) noted that Uganda's rice production is currently characterized by traditional, rudimentary and obsolete technologies. The official who attended the demonstration of agricultural machinery for small-scale farmers noted that an increasing demand for rice calls for intensive production of high-yield rice.
"We have achieved rice production self-sufficiency. National rice production is 306,000 tonnes today. But the increase in population and increasing demand, especially in urban areas, means new farmers need to be engaged in rice production and those farmers who are already producing rice should adopt better farming methods to increase their rice yields," he said.
The country's national rice development strategy aims to increase rice production to 443,800 tons in 2018. The Promotion of Rice Development (PRiDe) project, which is being implemented by Japan International Cooperation Agency (JICA), ministry of Agriculture, Animal Industry and Fisheries, and National Agricultural Research Organization, and National Agricultural Advisory Services (Naads) is reportedly supporting Uganda to achieve its national rice production targets.
The Chief Advisor of PRiDe project noted that broken grains and stones in rice are major drawbacks of Uganda rice. He stressed for the need of affordable threshing machines to increase the quality of rice.

 Exclusive News have been shared with written permission of ORYZA.com with thanks

Wednesday, February 24, 2016

24th February 2016 daily exclusive oryza rice enewsletter by riceplus magazine

Pakistan May Soon Resume Banking Ties with Iran, Says SBP Official

Feb 23, 2016

The State Bank of Pakistan (SBP) may soon allow local banks to resume ties with their Iranian counterparts following the government's recent lifting of sanctions on the neighboring nation, local sources quoted the Chief spokesman at the SBP.He told reporters that the Central Bank will shortly issue instructions to banks regarding the decision. Thereafter, "all permissible transactions with Iran will be possible," he said. He also noted that the Pakistan's decision will also be intimated to the Iranian Central Bank.Rice exporters and other business community stakeholders have been urging the government to resume official banking channels with Iran to streamline trade but the government has not obliged due to the sanctions on Iran. In February this year, the government lifted sanctions on Iran following the UN Security Council Resolution 2231.

During sanctions, the bilateral trade between Iran and Pakistan fell to $431.76 million in 2010-11 from around $1.32 billion in 2008-09, according to the local sources."The lifting of sanctions will enable the two countries to fully reinvigorate various bilateral and multilateral arrangements for promoting investments and cooperation," a finance ministry’s statement said. The resumption of banking ties will reportedly allow banks to set up an appropriate payment mechanism for enhancing trade ties between the two countries.Iran was a major importer of Pakistan basmati rice prior to the sanctions. “However, after tough economic sanctions, Pakistan lost this market to India,” said an official at Trade Development Authority of Pakistan (TDAP).

GI Recognition to Indian Basmati Rice Will Stabilize Prices and Boost Exports, Say Experts

Feb 23, 2016

Experts are expecting that the geographical indications (GI) recognition to Indian basmati rice will help to stabilize prices, which have been falling since the beginning of this financial year (April - March) due to excess supplies, as well as boost exports, according Business Standard.
Basmati rice supplies have increased significantly this year due to an increase in acreage. Basmati rice farmers earned between Rs.3,000 to Rs.3,500 per quintal (around $438 - $511 per ton) for some basmati rice varieties in kharif 2014-15. Expecting same kind of returns, they increased the basmati acreage in 2015-16 to over 500,000 hectares by converting some of the non-basmati rice acreage. However, sudden fall in prices have undermined the interests of the traditional farmers.

Even the export prices for basmati fell from around $1,295 per ton in FY 2013-14 to around $1,220 in FY 2014-15 and to around $885 per ton in FY 2015-16, according to the Agriculture and Processed Food Exports Development Authority (APEDA).The APEDA officials noted that such situation can be averted going further as the GI tag for basmati grown in Indo-Gangetic plains would protect from varieties grown in other areas being claimed as "basmati." Rice grown in Punjab, Haryana, Himachal Pradesh and parts of Uttar Pradesh, Uttarakhand, Jammu and Kashmir and Delhi is certified as "basmati" under the GI tag.

They also noted that they are planning to apply for GI recognition in the EU, U.S. and Gulf to protect the interests of the traditional basmati rice growers

 

Wholesale Basmati Rice Prices in India Rise on Increased Buying for Stockpiling

Feb 23, 2016
Wholesale basmati rice prices in the national capital have increased today owing to an increase in buying for stockpiling against restricted supplies from producers, according to the Press Trust of India (PTI).
On February 23, 2016, prices of Pusa 1121 increased to around Rs.4,100 - 5,000 per quintal (around $598 - $730 per ton) from previous levels of around 4,050 - 4,950 per quintal (around $592 - $724 per ton).
Prices of common basmati remained stable at previous levels of around Rs.5,300 - 5,400 per quintal (around $773 - $789 per ton).
"Some buying by stockists against restricted supplies from producing regions mainly led to the rise in rice basmati prices," traders were quoted as saying.

Global Rice Quotes
February 23rd, 2016
Long grain white rice - high quality
Thailand 100% B grade          365-375           ↔
Vietnam 5% broken    350-360           ↔
India 5% broken         360-370           ↔
Pakistan 5% broken    340-350           ↔
Myanmar 5% broken   420-430           ↑
Cambodia 5% broken             410-420           ↔
U.S. 4% broken           460-470           ↔
Uruguay 5% broken    440-450           ↔
Argentina 5% broken 430-440           ↔
Long grain white rice - low quality
Thailand 25% broken 345-355           ↔
Vietnam 25% broken 340-350           ↔
Pakistan 25% broken 305-315           ↔
Cambodia 25% broken           395-405           ↔
India 25% broken       325-335           ↔
U.S. 15% broken (sacked)      440-450           ↔
Long grain parboiled rice
Thailand parboiled 100% stxd            365-375           ↔
Pakistan parboiled 5% broken stxd    NQ      ↔
India parboiled 5% broken stxd         350-360           ↔
U.S. parboiled 4% broken       480-490           ↔
Brazil parboiled 5% broken    520-530           ↔
Uruguay parboiled 5% broken            NQ      ↔
Long grain fragrant rice
Thailand Hommali 92%          680-690           ↔
Vietnam Jasmine         415-425           ↑
India basmati 2% broken        NQ      ↔
Pakistan basmati 2% broken   NQ      ↔
Cambodia Phka Mails             760-770           ↔
Brokens
Thailand A1 Super      325-335           ↔
Vietnam 100% broken            325-335           ↔
Pakistan 100% broken stxd    285-295           ↔
Cambodia A1 Super   335-345           ↔
India 100% broken stxd         260-270           ↔
Egypt medium grain brokens NQ      ↔
U.S. pet food 280-290           ↔
Brazil half grain          NQ      ↔










All prices USD per ton, FOB vessel, oryza.com



Vietnam Trade Ministry Seeks to Expand Rice Export Markets in 2016

Feb 23, 2016

The Ministry of Industry and Trade (MOIT) has urged the trade counsellors and domestic rice exporting companies to reduce their dependence on China and expand into other markets including Europe, Japan, South Korea and the U.S., according to the local sources.In a meeting with the traders and exporters on February 22, 2016, the Ministry discussed various measures to expand export markets for Vietnamese rice in 2016. The Ministry reportedly noted that China was the main export market for Vietnamese rice in 2015, accounting for more half of Vietnam rice exports during the year. However, the Ministry stressed that too much dependence on China would pose a high risk to Vietnam, and highlighted the need for the exporters to diversify their export markets.

But the Ministry noted that these markets use premium rice products and therefor Vietnam ha to focus on high quality rice exports. Currently, premium rice exports account for only 27% of total Vietnam rice exports, according to the Ministry. The Ministry, therefore emphasized the need for developing a national rice brand in addition to adopting newer trade promotion strategies.
The MOIT Deputy Minister noted that the domestic rice exporters still lack information on rice markets, particularly information on new markets, and depend for more support and co-operation from trade counsellors in foreign countries and authorised agencies to help them promote their exports. He noted that the MOIT would work towards renewing trade promotion activities in accordance to specific market needs."In the coming time, the MoIT will increase the dissemination of information on free trade agreements to farmers and rice exporters to help raise their competitiveness and take advantage of such agreements," he said.

In 2015, Vietnam exported about up about 6.568 million tons, up about 4% from about 6.33 million tons of rice exported in 2014. This year, the Ministry is expecting exports to be impacted by extending drought conditions, salt water intrusion and competition from top exporting nations, including Thailand, India and Pakistan





Vietnam Rice Sellers Increase Some of Their Quotes Today; Other Asia Rice Quotes Unchanged

Feb 23, 2016

Vietnam rice sellers increased their quotes for Jasmine rice by about $5 per ton  to around $415-$425 per ton today. Other Asia rice sellers kept their quotes unchanged today. 
5% Broken Rice
Thailand 5% rice is indicated at around $355 - $365 per ton, about $5 per ton premium on Vietnam 5% rice shown at around $350 - $360 per ton. India 5% rice is indicated at around $360 - $370 per ton, about $20 per ton premium on Pakistan 5% rice shown at around $340 - $350 per ton.
25% Broken Rice
Thailand 25% rice is indicated at around $345 - $355 per ton, about $5per ton premium on Vietnam 25% rice shown at around $340- $350 per ton. India 25% rice is indicated at around $325 - $335 per ton, about $20 per ton premium on Pakistan 25% rice shown at around $305 - $315 per ton.
Parboiled Rice           
Thailand parboiled rice is indicated at around $365 - $375per ton. India parboiled rice is indicated at around $350 - $360 per ton, about $55 per ton discount to Pakistan parboiled rice last shown at around $405 - $415 per ton.
100% Broken Rice
Thailand broken rice, A1 Super is indicated at around $325 - $335 per ton, on par with Vietnam 100% broken rice shown at around $325 - $335 per ton. India's 100% broken rice is shown at around $260 - $270 per ton, about $25 per ton discount to Pakistan broken sortexed rice shown at around $285 - $295 per ton.

Philippines Researchers Adapt LAMP Virus Detection Tool for Rice

Feb 23, 2016
Researchers from the Philippine Rice Research Institute (PhilRice) have adapted the loop-mediated isothermal amplification (LAMP) technique, which has been proven useful in detecting viruses in animals and humans, to detect viruses in rice plants, according to a press release on the government website.
The LAMP technique can be the rice tungro bacilliform virus (RTBV), rice ragged stunt virus (RRSV) and the rice dwarf virus (RDV) in rice plants even before the common symptoms are noticed, according to the lead researcher of the adaptation technique. “Through this application, major rice virus diseases and insect vectors can be diagnosed in a fast, efficient, and accurate method,” he said.
He noted that "the existing rice virus detection tools have difficulties in detecting viruses that are of low titer (strength of a substance’s solution) aside from being arduous and time consuming."
"This early, virus detection tool is useful for pest control officers. The reliable and prompt results it provides can lead to proactive solutions, and hence, prevent viral disease epidemic," he said.

Vietnam Ships 284,450 Tons of Rice from Saigon Port in February 1 - 20, 2016

Feb 23, 2016
Vietnam rice exporters have shipped around 284,450 tons of rice from Saigon port, Reuters quotes industry reports.
Shipments include 167,050 tons to Indonesia, 83,900 tons to the Philippines, 29,000 tons to Cuba and 4,500 tons to East Timor.

Saigon port is the country's largest port located on Saigon river in Ho Chi Minh City.



Oryza CBOT Rough Rice Futures Recap - Chicago Rough Rice Futures Continue to Fall as Sharply Lower Crude Pressures U.S. Grain Prices

Feb 24, 2016

Chicago rough rice futures for Mar delivery settled 11 cents per cwt (about $2 per ton) lower at $10.595 per cwt (about $234 per ton). The other grains finished the day sharply lower as well; Soybeans closed about 1.3% lower at $8.7300 per bushel; wheat finished about 1.8% lower at $4.5575 per bushel, and corn finished the day about 1.5% lower at $3.6675 per bushel.
U.S. stocks traded about 1% lower Tuesday, weighed by declines in oil prices and a miss in the consumer confidence index. Stocks extended losses after The Conference Board said its consumer confidence index fell to 92.2 in February, down from a downwardly revised 97.8 in January. Analysts polled by Reuters had expected the index to hold near January levels. U.S. crude oil futures for April delivery settled down $1.52, or 4.55%, at $31.87 a barrel, below Monday's closing price of $33.39 a barrel but a touch above the final price on the March contract of $31.48 a barrel.


The March contract rolled to April after the settle Monday. Saudi Oil Minister Ali al-Naimi said at the CERAWeek energy conference that production cuts won't happen, although producers will hopefully meet in March to negotiate an output freeze. On the data front, the S&P/Case-Shiller 20-city composite home price index showed a 5.7% increase year-over-year in December. U.S. home resales unexpectedly rose in January, reaching a six-month high, in the latest sign that the economy remains on firmer ground despite slowing global growth and tightening financial market conditions, Reuters said. In afternoon trade, the Dow Jones industrial average traded down 170 points, or 1.03%, to 16,437. The S&P 500 traded down 20 points, or 1.06%, to 1,924, with energy leading nine sectors lower and consumer staples the only advancer. The Nasdaq composite declined 53 points, or 1.17%, to 4,517. Gold is seen trading about 1.1% higher, crude oil is seen trading about 4.6% lower, and the U.S. dollar is seen trading about 0.1% higher at about  2:00pm Chicago time.
Monday, there were 3,243 contracts traded, up from 1,699 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday increased by 243 contracts to 12,773. 

Brazil Paddy Rice Index Unchanged From Previous Week

Feb 23, 2016
The Brazilian paddy rice index maintained by the Center for Advanced Studies on Applied Economics (CEPEA) reached around 41.91 real per 50 kilograms as of February 19, 2016, unchanged from last week.

In terms of USD, the index reached around $212.5 per ton on February 19, 2016, up around 1% from around $210 per ton recorded a week ago.Month-on-month, the index has increased around 1% from around 41.47 real per 50 kilograms recorded month ago. In terms of USD, the index increased around 5% during the month.

Tuesday, February 23, 2016

22nd February 2016 Daily Global Rice E-Newsletter by Riceplus Magazine-Latest Rice News Updates


Advocates push food and nutrition as election issues



Food and nutrition security advocate groups are urging candidates to address food sustainability and malnutrition in their electoral platforms.

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“Steady economic growth has not translated to the improvement of lives of many Filipinos,” executive director Romeo C. Dongeto of the Philippine Legislators’ Committee on Population and Development said in a statement.He pointed out that notwithstanding the reduction in the number of people suffering from hunger as shown in a recent SWS survey, numerous reforms remains to be carried out addressing income inequality and rural poverty.Last month, the SWS released a survey showing the hunger rate last year at 13.4%, the lowest in 11 years.Other organizations that have called for candidates to address nutrition and food security include the Philippine Coalition of Advocates for Nutrition Security (PhilCAN) and Farmers group Pambansang Kaisahan ng mga Magbubukid sa Pilipinas (PKMP).


PhilCAN vice-lead convenor Dyan Amee Rodriguez attributed hunger and malnutrition in the country to various factors, including “natural disasters, climate change, and poor governance.”“We can eradicate malnutrition through consistent and scaled up initiatives, and use of accurate, timely and credible information in designing and monitoring interventions,” Ms. Rodriguez said.The PKMP attributed the “high prevalence” of poverty to the state of the country’s agricultural development, adding that small-scale farmers and rural communities suffer the most.“Addressing food security should be top priority of the government,” said PKMP secretary-general Nestor Diego, adding that the government focuses more on the benefits of agribusiness than on the welfare of farmers.


National Food Authority (NFA) spokesperson Dir. Angel G. Imperial, Jr. said they will continue monitoring rice supply to keep the country’s stocks sufficient and prices stable.The NFA earlier said it’s possible the country won’t import rice in the first quarter.PhilRice adapts a simplified virus detection tool for rice February 22, 2016.NUEVA ECIJA, Feb. 22 -- Scientists at the Philippine Rice Research Institute (PhilRice) have adapted a simplified method to detect viruses in plant and insect vectors using the loop-mediated isothermal amplification (LAMP) technique.LAMP assay has been proven useful in detecting viruses in animals and humans, said Dr. Emmanuel Tiongco.His team, composed of Dr. Xuan Hoai Truong, Ms. Ma. Johna Duque, and Dr. Rubigilda Paraguison-Alili (Central Luzon State University), extended the application of this method to rice viruses in the Philippines.


The method enables detection of the rice tungro bacilliform virus (RTBV) in plants even before common symptoms become noticeable. “Through this application, major rice virus diseases and insect vectors can be diagnosed in a fast, efficient, and accurate method,” Dr. Tiongco said.Using the method, RTBV can be detected 1 day after infection. The widely used enzyme-linked immunosorbent assay (ELISA) detects RTBV 3 days after infection.Additionally, Dr. Tiongco said that LAMP assay detects the rice ragged stunt virus (RRSV) and the rice dwarf virus (RDV) not only in rice plants but also in their respective brown planthopper and green leafhopper vectors.

This way, the impending virus spread is known even before rice crop establishment.Existing virus detection tools, Dr. Tiongco commented, have difficulties in detecting viruses that are of low titer (strength of a substance’s solution) aside from being arduous and time consuming.Easy to follow procedures, cheaper equipment required, high level of specificity, and simple result determination by merely looking at the change in color of the test solution are among the advantages of the newly developed method.

Dr. Tiongco and his team have conducted training programs for agricultural technicians, rice researchers, and extension workers about this new method at the PhilRice Central Experiment Station in Nueva Ecija and its stations in Isabela, Negros, and Midsayap."This early, virus detection tool is useful for pest control officers. The reliable and prompt results it provides can lead to proactive solutions, and hence, prevent viral disease epidemic," Dr. Tiongco said. (PhilRice)





Rice initiative to impact 122,000 lives
GIZ boss

ON FEBRUARY 22, 201612:39 AMIN BUSINESSCOMMENTS By Dotun Ibiwoye The perennial problems associated with smallholder farming in Nigeria such as poor farm implements, inadequate fertilisers, outdated farming methods and poor techniques which result in poor crop yield will soon become things of the past if plans by the German Agency for International Cooperation, GIZ, are anything to go by.Thomas Kirsch, GIZ Nigeria’s Country Director disclosed in a chat with Vanguard that his agency has initiated a scheme code-named, ‘The Competitive African Rice Initiativ’e,’ CARI, which will offer matching grants to no fewer than 122,000 farmers in four African countries, including Nigeria.

Kirsch said, CARI is expected to team up with additional partners to target more farmers, all of whom will be integrated into inclusive business models until 2017. According to Kirsch, the focus now is on the marketing of locally produced rice, and to continue to support policies that will create the enabling environment for high yield production.He affirmed that the core mechanism for implementing the program is a Matching Grant Fund mechanism focused on supporting core partners to strengthen linkages and build the capacity of the broader value chain actors.In the Nigerian organisations, where the project, has been implemented, the Country Director said that over 2,000 farmers have been clustered around primary processors, for the production of Garri, Fufu, starch, High Quality Cassava Flour (HQCF).

He disclosed that 300 lead farmers have been trained in rapid cassava-stem multiplication, providing additional income to the farmers as well as improving access to improved cassava varieties for the general farming community. ”The Competitive African Rice Initiative (CARI) seeks to improve the livelihoods of at least 122,000 smallholder farmers in Nigeria, Ghana, Burkina Faso, and Tanzania by integrating smallholder farmers into competitive and sustainable business models,” Kirsch said ”Three special projects for support to female farmers are also supported in Nigeria and Ghana,”he disclosed further ”Potato yields of trained farmer groups have increased from 6 to 12 tons per hectare. Potato farmers have received group formation training and have organized themselves to form an association with about 1,500 members to better respond to market demands. 12 storage facilities for potatoes have increased the profitability of potato farming,” he said”We are working with a number of Nigerian corporate and individual professionals, commissioned by GIZ as consultants, to build the capacity of partner organizations and small entrepreneurs.

 He stated that sustainable smallholder Agri-Business Programme commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ) with cofinancing from the European Union and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) is supporting 350,000 male and female smallholders, mainly in the cocoa growing areas of Nigeria,CĆ“te d’Ivoire, Ghana, Cameroon and Togo, to sustainably improve their incomes and food supplies from diversified production.Kirsch said approaches are made available to interested programs, companies, organizations in Africa and to the Comprehensive Africa Agriculture Development Program (CAADP).

http://www.vanguardngr.com/2016/02/rice-initiative-to-impact-122000-lives-giz-boss/




02/22/2016 Farm Bureau Market Report
Rice
High
Low
Long Grain Cash Bids
- - -
- - -
Long Grain New Crop
- - -
- - -


Futures:
ROUGH RICE
High
Low
Last
Change
Mar '16
1102.0
1050.0
1070.5
-31.5
May '16
1129.5
1077.0
1098.0
-31.5
Jul '16
1131.0
1119.0
1126.0
-31.0
Sep '16
1140.0
1135.0
1139.5
-29.0
Nov '16
1157.0
-29.5
Jan '17
1170.0
-29.5
Mar '17
1170.0
-29.5
Description: DTN Description: CME Group Description: Click here for info on Exchange delays.

Rice Comment

Rice futures sold off hard in early dealings, but did recover about half of the day's losses before the close. The losses were attributed to the disappointing results of the Iraqi tender. The tender had originally been for US origin rice only, the top bidder only offered 30,000 tons of US rice and the rest was much cheaper rice from Argentina and Uruguay.


LAST DAY to Complete CME Group Survey
All members of the rice industry, particularly those with interest in the rice futures market, are encouraged to complete the CME Group survey found here.
https://cmeg.co1.qualtrics.com/SE/?SID=SV_86WBqXz373PWewJ&Q_JFE=0

USA Rice Daily, Monday, February 22, 2016




Colombia cooking class
USA Rice Hosts "Cocina Viva" Chef Seminar in BogotĆ”
By Ernesto Baron

BOGOTA, COLOMBIA - Earlier this month, USA Rice partnered with the USA Poultry and Egg Export Council to conduct a culinary seminar for the hotel, restaurant, and institutional sector here.  The interactive session was led by Executive Chef Bernardo GĆ³mez, a professor and member of the Colombia Gastronomical Academy and honorary member of the Colombian Chef Association.

More than 60 participants learned about different types of U.S.-grown rice and rice preparation techniques.  Of particular interest to the chef participants was learning to use the right type of rice for a particular recipe.

"Colombia is largely a long grain market," said John Valpey, chairman of the USA Rice International Promotion Committee.  "This seminar is designed to broaden chefs' horizons here and encourage them to have fun with their recipes and to know that there is always a U.S.-grown rice that will go perfectly with their cooking."

Colombia is a new and important market for U.S rice.  The market went from essentially zero U.S. rice exports in 2011 to more than 329,000 metric tons in 2015 thanks to the 2012 U.S-Colombia Free Trade Agreement that established a Tariff Rate Quota (TRQ) for U.S. rice.  Imports of U.S. rice have outpaced the TRQ every year and the government of Colombia recently announced a tender for an additional 200,000 metric tons of rice in response to domestic production shortfalls as a result of El NiƱo. 

USA Rice is optimistic that the United States will be able to participate in the emergency needs of the country, but either way, promotions in the country are still important as U.S. rice is still a relatively new experience for most Colombians
Published : 22 Feb 2016, 20:25:56
IRRI-ACI tie up to modernise rice production
DHAKA, Feb 22: The International Rice Research Institute (IRRI) on Monday announced a partnership with Bangladesh's Advanced Chemical Industries (ACI), Limited to build a state-of-the-art rice breeding programme in Bangladesh.



The partnership will help improve the lives of rice farmers and boost rise production through supporting better rice varieties and agricultural technologies. The collaboration will also support a wide range of projects aimed to accelerate genetic research and advance breeding and product development for the Bangladesh rice ecosystem, the IRRI said.

This agreement builds on the successful partnership developed between the two organisations through the Hybrid Rice Development Consortium (HRDC), started in 2014, which is a public private partnership that enhances the dissemination of hybrid rice technology. HRDC, of which ACI has been a member since May 2014, was established at IRRI in 2008.

IRRI's unique expertise and technology platform will be available to ACI in the form of an intensive technology-transfer programme, partially financed by the US Agency for International Development (USAID).

In addition, ACI will deploy specific elite varieties developed by IRRI that are suitable for Bangladesh agro-climatic conditions. A strong screening program, developed by ACI with the help of IRRI specialists, will yield a robust pipeline of new elite varieties. ACI will be responsible for market introduction of the best varieties.

"The objective of this collaboration with ACI is to facilitate higher rice yields, better quality, climate-change-tolerant varieties, and improved sustainability of rice production in Bangladesh", IRRI Director General Matthew Morell said while commenting on the partnership.
"We are pleased to partner with IRRI, a recognised leader in rice research and development, to address the need to improve the lives of rice farmers through better rice varieties and agricultural technologies, which ensure creating wealth for farmers" said Dr. FH Ansarey, Executive Director for Agribusiness of ACI.

ACI is a leading brand in Bangladesh with activities in pharmaceuticals, consumer brands including agriculture value addition, logistics including agriculture retailing and complete agriculture solution covering seed, fertilizer, crop care, agriculture machineries, animal health and integrated poultry and farmer's forward and backward linkage, according to a news agency.
-Jahangirhttp://www.thefinancialexpress-bd.com/2016/02/22/17215

Marcos’ Green Revolution


February 22, 2016 8:52 pm


Description: RACHEL A.G. REYES
IN 1962, not long before Ferdinand Marcos was elected president, the Philippines was at the forefront of pioneering scientific research on rice that introduced high-yielding varieties to the country. Supported by several international agencies, including the Rockefeller and Ford Foundations, the main goal was to increase food production. Working at the newly established International Rice Research Institute (IRRI), in Los BaƱos, Laguna, scientists from all over the world developed a type of rice that produced heavy heads of grain that grew on short, robust stalks able to bear the weight of the grain without toppling over. This rice variety, called IR-8, required intensive irrigation, plenty of fertilizer, and chemical pesticides, to flourish. Output doubled. Between 1962 to 1964 and 1983 to 1985, with steady increases in between, rice yields rose from 1.24 to 2.48 metric tons of palay per hectare.

The increase was spectacular and unprecedented. For the first time, the chance to effect real equitable change in the lives of the poor was within the government’s grasp. However, despite its promising start, the green revolution in the Philippines did not deliver the gains it was supposed to. Not only did it fail to improve the conditions of the poor but, ironically, the poor slid further into hardship. The opportunity was squandered. What happened?

Under Marcos, per capita income rose, there was a rice surplus, and the price of rice fell. But, to simplify a complicated story, the period from 1965 to 1986 was a paradox. There was economic growth yet it caused massive impoverishment. The American economist James K. Boyce calls this phenomenon “immiserizing growth,” when economic growth, and political and social conditions are such that the rich get absolutely richer and the poor become absolutely poorer.After the declaration of Martial Law in 1972, there was a decline in the absolute incomes of the poor. Millions were without access to basic needs, hunger was widespread, with infants and children hardest hit. Impoverishment prevented the poor from buying rice, even when rice prices were at their lowest. In a 1979 review of Philippine grain production policy, the World Bank found that total rice consumption in the 1970s slowed, growing at only 2.9%, barely in step with the rate of population increase. The poor were not filling up on bread and cake. They were not eating.
Studies by the Food and Nutrition Research Institute found that by 1982, two thirds of families consumed less than the recommended minimum daily calorie intake. 25% of the country’s pre-schoolers were stunted, 14% were wasted, and an appalling 69% were underweight. Between 1970 and 1983, infant mortality was at 59 per 1,000 in rural areas and 55 per 1,000 in urban areas – among the highest in East and Southeast Asia. The cause of infant and child deaths could be directly traced to hunger and a lack of basic health care services. While the Marcos government injected $229 million into private hospitals specializing in single organ diseases (the Philippine Heart Center, National Kidney Foundation, and the Lung Center of the Philippines), which catered to the rich, primary health care fell by the wayside. A damning UNICEF report declared it a gross misallocation of resources. Babies and children died from entirely preventable illnesses — diarrhea, vitamin and nutrient deficiencies, and common respiratory infections due to undernourishment.
Elsewhere in Asia, the green revolution pulled countries out from the abyss. It helped China recover from Mao’s catastrophic Great Leap Forward and India to overcome mass starvation. In the Philippine case, boosting rice production occurred in a highly inequitable social setting where disparities in wealth and power at both the national and barangay level determined who would be favored from the outset. Had the Marcos government addressed land reform and redistribution of wealth, then more egalitarian and sustained growth might have resulted.

Under Marcos, precisely the opposite occurred. The primary beneficiaries of the green revolution in the Philippines were those who had access to financing and water — the rural elites who came from the ranks of the old landlord classes and upwardly mobile tenant farmers who, with larger farms, were awarded capital subsidies from the government. Subsidies were especially necessary in purchasing the expensive fertilizers, herbicides and pesticides, needed by the high yielding varieties. Use of chemical pesticides led to an environmental disaster. Fish, another food staple of the poor, and other aquatic life, became contaminated, compounding the hunger problem still further.

“One cannot explain the prevalence of malnutrition in a period of increasing food and agricultural production as primarily a supply problem” Boyce observed. “Rather, it is a case of the uneven distribution of the available food within the population…the inequitable and worsening distribution of purchasing power.”Under Marcos the green revolution became a privately profitable enterprise.

It is said that the best lies hold a grain of truth. Senator and Vice-Presidential candidate Ferdinand “Bongbong” Marcos recently asked: “Will I say sorry for the agricultural policy that brought us to self sufficiency in rice?” Bongbong has consistently taken a defiantly unrepentant stance toward his late father’s rule. Born in 1957, he was in his twenties during the period of the green revolution. He did not go hungry himself and, like his father, showed little empathy for the millions who did.


http://www.manilatimes.net/marcos-green-revolution/246377/



Commodity Report-February 22


Published 

In today’s commodity report we have the the National Shell Eggs: Daily Egg Report, the California Shell Eggs: Daily Egg Report, Weekly Rice Summary and other commodity end of the day market numbers.

National Shell Eggs: Daily Egg Report


Description: Commodity TradingRegional prices are 16 to 30.5 cents lower for Extra Large, 19 to 37 cents lower for Large and 10.5 to 28.5 cents lower for Medium. California price are 4 cents lower for Jumbo and Extra Large, 5 cents lower for Large and 1 cent lower for Medium and Small. New York egg prices are unchanged on all sizes. The undertone is steady to higher in California, steady in remaining areas. Offerings are moderate to instances heavy in the South Central, very light to moderate in California, moderate in all other regions. Supplies vary, although mostly moderate to heavy. Retail and food service demand is mostly light to moderate, however moderate to fairly good in the Southeast. Market activity is generally slow to moderate, although moderate to active in California. Breaking stock supplies are light to moderate for mostly normal breaking schedules. Light hen offerings are moderate to heavy for the light to moderate demand.

California Shell Eggs: Daily Egg Report

Benchmark prices are 4 cents lower for Jumbo and Extra Large, 5 cents lower for Large and 1 cent lower for Medium and Small. The undertone is steady to higher for the larger sizes and sharply higher for Medium. Demand is moderate. Offerings are moderate for the larger sizes and light to very light for Medium. Supplies are moderate. Market activity is moderate to active. Small benchmark price $1.16.

Shell egg marketer’s benchmark price for negotiated egg sales of USDA Grade AA and Grade AA in cartons, cents per dozen. This price does not reflect discounts or other contract terms.
RANGE
JUMBO
194
EXTRA LARGE
180
LARGE
174
MEDIUM
136

Weekly Rice Summary

In California, medium grain milled rice prices steady to 3.00 lower. Second heads prices mostly steady; Brewers prices steady to 1.00 lower. Rice by-products: Rice Bran prices 5.00-10.00 lower. Rice hulls spot trade not well tested.
USDA National Weekly Rice Summary (.pdf) with all prices.
Check the February USDA Commodity Report Calendar for today’s commodity reports released by USDA.

Now Monday’s Commodity Market ending market numbers for other commodities:

Corn
March Corn ended at $3.67 1/2 increasing 2 cents, May ended at $3.72 1/4 gaining 3 cents.
Soybeans
March Soybeans ended at 8.81 up 2 3/4 cents, May ended at 8.84 1/4 increasing 3 1/2 cents.
Wheat
March Wheat ended at $4.58 1/2, decreasing 3 1/4 cents, May Wheat ended at $4.64 down 2 3/4 cents.
Rough Rice
March Rough Rice ended at 10.705 losing 0.315, May ended at 10.98 decreasing 0.315.
Live Cattle
February Live Cattle ended at $136.425 increasing $1.05 and April ended at $134.625 up $0.675 and June ended at $123.825 gaining $0.675.
Feeder Cattle
March Feeder Cattle ended at $155.175 losing $0.70 and April ended at $154.575 decreasing $0.05 and May ended at $153.10 up $0.15.
Lean Hogs
April Lean Hogs ended at $69.25 increasing $0.35, May ended at $76.025 up $0.775
Class III Milk
February Class III Milk ended at $13.81 down $0.01, March ended at $13.67 decreasing $0.18 and April ended at $13.61 dropping $0.20.
#2 Cotton
March #2 Cotton ending at 57.74 losing 2.27, May ended at 58.69 down 0.85.
Sugar #11
March sugar #11 ended at 12.61 up $0.09 and May ended at 12.76 increasing 0.09.
Orange Juice
March Orange Juice ended at 125.30 losing $5.30, May ending at 125.80 down $4.85.
Gold
April gold ending at $1210.10 decreasing $20.70 a troy ounce, June at $1210.60 losing $20.70 and August gold ending at $1211.11 down $20.70.
Crude Oil WTI
April Crude Oil WTI ended at $33.39 increasing $1.64, May ended at $35.04 up $1.65 and June ended at $36.18 gaining $1.59.
Brent Crude
April Crude Oil Brent ended at $34.69 gaining $1.68, May ended at $35.29 increasing $1.67 and June ended at $35.98 up $1.64.




India Gate's 550kg rice bag enters Guinness World Records at Gulfood 2016
WAM/Dubai
Filed on February 22, 2016
Description: http://www.khaleejtimes.com/storyimage/KT/20160222/ARTICLE/160229874/AR/0/AR-160229874.jpg&MaxW=780&imageVersion=16by9&NCS_modified=20160222204225Description: http://www.khaleejtimes.com/storyimage/KT/20160222/ARTICLE/160229874/AR/0/AR-160229874.jpg&MaxW=780&imageVersion=16by9&NCS_modified=20160222204225WAM/Dubai
Filed on February 22, 2016

The new record was achieved when the bag was filled in a single day and transported on a truck to Gulfood. Gulfood, the world's largest annual food and hospitality trade show, has broken a Guinness World Record for the globe's heaviest bag of rice.KRBL Limited, the world's largest rice millers and Basmati rice exporters, has successfully entered the Guinness Book of World Records with a bag of rice from its acclaimed India Gate Classic Basmati Rice brand weighing 550kgs, a combined weight of two adult Royal Bengal Tigers.

The new record was achieved when the bag was filled in a single day by a dedicated team at KRBL DMCC's Al Quoz warehouse before being driven on a truck to Gulfood, which runs at Dubai World Trade Centre, DWTC, from 21st - 25th February."Guinness Book of World Record assessors were on site to verify the entire process," explained Priyanka Mittal, member of the Board of Directors at KRBL Limited.

Following the feat, Guinness Book of Records accreditors presented the KRBL Limited management with an honorary certificate on the second day of Gulfood."After the show, we plan to display the bag for a few days at a major retail store or a shopping mall before cooking it for distribution to labourers," added Mittal.KRBL Limited, which owns the India Gate Basmati rice brand, is also one of the recipients of World's Greatest Brands and Leaders 2015 - Asia & GCC Awards. The company is participating at Gulfood to connect with its worldwide distributors, forge new alliances and expand its country basket.

The record has been welcomed by DWTC which has signed up more than 5,000 exhibitors from over 120 countries for Gulfood 2016, the largest number in the show's history."The new Guinness World Record is a colourful and engaging addition to this year's show. Dubai is well known for its record-breaking exploits and we're very happy that Gulfood has got in on the act," said Mark Napier, Exhibition Director of Gulfood.Gulfood 2016 is hosting the show's largest contingent to date of national and industry pavilions, having lined up a total of 117, five more than last year, with first-time group participation from Russia, Costa Rica, Belarus, and Mauritius, and New Zealand returning after a six-year break.

Among the anticipated 90,000 visitors from more than 170 countries expected before the show closes on Thursday evening, Gulfood 2016 will host international heads of state, ministers, government officials and national trade associations from five continents.


Rice prices to go up in city, fear experts

Siddharth Tadepalli | TNN | Feb 23, 2016, 10.59 AM IST

Hyderabad: This year, prices of rice and rice products will escalate manifold, fear agrarian experts and traders, who are blaming it on early onset of summer, less sowing and scanty rainfall. At a time when the maximum day temperature continues to hover around 38 degrees Celsius, records from the state agriculture department show that paddy sowing has been lesser than 2014-2015.

Data shows Telangana farmers have restricted themselves to sowing paddy on a measly 2.2 lakh hectares against the average of 6.4 lakh hectares in previous two years. A shortfall of rice is on the cards, as a result of decrease in sowing, especially in the city.

At present, a kg of Sona Masoori rice, is priced anywhere between Rs 45-60 in the open markets. Traders are of the opinion that the price could soar to Rs 80 or higher.

"To cultivate paddy, water must be made available in copious amounts. But in the last one year, we have been facing a drought-like situation. Now, even the borewells have dried up, which is why many of us have stopped sowing paddy," said D Shyam, a farmer who has 30 acres of barren land in Bibinagar.

However, the worst affected would be the urban consumers, according to J Jayaram, general manager, marketing, state civil supplies department, as the monthly consumption of rice in the entire city is around 1.8 lakh tonnes. But with the shortfall in paddy cultivation, farmers fear that the maximum yield that they can now achieve would barely be one-third of the monthly requirement.

"If the acreage of cultivation comes down, apart from a dip in the quantity of rice, the rate for procuring the produce, milling and making it fit for consumption goes up. And, this additional price would have to be borne by the consumers," said Venkateshwarulu Manchu Konda, president, Rice Millers' Association, who supplies rice to several supermarket brands in the city.


Not just the farmers, even agrarian experts like G V Ramanjenayulu highlight how the crop production has come down by half. "Most of the farmers had pinned their hopes on irrigating their farms with the rainwater. But unfortunately, all their hopes were dashed," he said.

Top Comment

Prices in India never come down. Milk, rice, gold, houses, all prices go up continuously. I wonder why they bother to ex... Read MoreSrinivasa Rao D


Even, senior officials from the department said they are fast losing hope on early rains. "It is only the farmers with access to a working borewell, who are taking up paddy cultivation," C Parthasarathi, secretary of the department.

From flab to fabulous

Description: http://yourhealth.asiaone.com/sites/default/files/styles/large/public/original_images/Feb2016/20160222-bt-yolo.jpg

The Business Times
Monday, Feb 22, 2016

The Business Times

By Tay Suan Chiang
THE crew at Kilter Avenue, a new boot camp, know that no one really likes waking up at 6am to exercise. Which is why their boot camp sessions start only at 10am.The one month-old Kilter Avenue is headed by three working professionals - Karen Heng, an account director at a public relations and branding agency; Caryn Cheah, trade ambassador for a spirits company, and Rajeev Singh, a commercial manager for a shipping company."The three of us met at the gym where we are all members, and bonded over a shared passion and excitement for fitness," says Ms Heng."We all lead active lifestyles, and like working out in groups because there is a higher push of motivation; the sense of camaraderie when training with like-minded people is a feeling that we want to bring across in our boot camps."

The trio want to show that it is possible to be fit and strong mentally and physically, without having to give up what they enjoy as part of their work."This philosophy of balance and moderation in the way we go about our everyday life is the basis of our business," says Ms Heng. She goes to the gym before work daily, does capoeira once or twice a week, and has dinner and drinks with friends a couple of nights a week.
Ms Heng says the boot camp sessions are only one part of Kilter Avenue."We envision Kilter Avenue to be a well-rounded fitness lifestyle brand that is also an online retailer of products that we love and fit into our lifestyle," says Ms Heng.Besides selling passes to its boot camps, at S$15 per session, Kilter Avenue also retails probiotic sodas and soy candles.To stand out from other boot camps in town, different disciplines of sports such as capoeira, Zumba, and boxing are integrated into each session, along with bodyweight exercises such as squats, push-ups, sit-ups and mountain climbers."We want to expose people to different forms of fitness, types of training and ways of workout," says Ms Heng. In addition to the exercises, time-based circuits and some sprints are thrown in.Most other boot camps only have one trainer per class, but at Kilter Avenue, Mr Singh is the head trainer, and there is at least one other Kilter Avenue staff on hand to correct form and ensure an effective 60-minute session.

Wrong form is a slippery slope to injuries and a trap of working out for long periods of time but not seeing commensurate results.Mr Singh is a certified personal trainer, and is also a certified coach for Kettlebell, spinning, powerlifting and indoor cycling.He has also taken part in three Ironman triathlons, as well as other marathons throughout the Asia-Pacific.Boot camps are held every Saturday at Fort Canning Hill, and in the coming months, sessions will also be held at East Coast Park and on Sundays. About 12 to 15 people attend each session, with 20 people set as the maximum. Ms Heng says the boot camps are suitable for everyone of all fitness levels."As our boot camp sessions play around with variations of bodyweight exercises, we are able to tailor according to levels, that is, each movement can have regressions or progressions depending on the individual's level of fitness," she explains.

Also, because the circuits are time-based and not repetition-based, individuals can separately work up to their own maximum effort levels."We encourage those that are weaker, but at the same time, enthusiastically challenge those that are fitter. So, if we see that you can go at a faster pace than you are currently going at, we will not think twice about calling you out and giving you a run for your money," quips Ms Heng.With Kilter Avenue, you can lose the weight you've gained from eating too many pineapple tarts and bak kwa."You can lose body fat and gain muscle, which in turn guides you to a leaner and more efficient body, and ultimately that leads to weight loss," she says."Having the goal of losing body fat is a more holistic approach to being healthy and fit. Weight loss is the natural consequence of that and looking better is the icing on the cake."

EAT YOUR GOALS
YOLO ICON
Village, 12 Gopeng Street, #01-01 Opening hours: Mon to Sat, 8am to 9.30pm, closed on Sundays yolofood.com.sg
YOLO - you only live once - so why feed your body with junk?
"Instead, you should take care of your body, eat what you love and live life to the fullest, because you only live once," says Alexis Bauduin, founder of YOLO, an eatery which focuses on serving healthy meals.
Before he started YOLO, Mr Bauduin, a French expatriate, was the typical corporate worker. He was previously working with the LVMH Group in China.
"I was travelling a lot, having to entertain customers and always in a rush which made eating healthily almost impossible," he says. His unhealthy lifestyle made him sick.
Now 32, he says the turning point for him was when he was 27.
He found it harder to control his weight, and he didn't feel as energised as before. "So I decided to look into eating healthily but such eating options were limited and boring.
The idea for YOLO took shape then but it was only last year that it came to fruition.
Mr Bauduin worked with a nutritionist and a chef to create the meals. "The nutritionist and I would decide which dishes we would select.
We wanted to focus on dishes that people are familiar with but to make them healthier," says the first-time entrepreneur. "The chef would help with the taste and the operational side of things, as we served each meal within five minutes of ordering."
Healthier versions of familiar favourites include chicken rice but made using brown rice, and a prawn pad Thai but with added tofu, vegetables and almonds.
To make things easier, the meals are split into four categories, each with a goal in mind, which are Shape Up, Energise, Build and Glow.
"We all have a goal in mind, but we don't know what we need to eat to get to this goal. YOLO tailors meals to help customers reach their goals," he says.
A meal costs from S$9.90 for a salad with chicken, cauliflower and tabbouleh, to S$15.90 for the miso-glazed salmon steak with bak choy and quinoa. Portions are controlled so there's no overeating.
YOLO's top three meals are the miso-glazed salmon steak, coconut chicken with brown basmati rice, and cauliflower fried rice, which is shredded cauliflower that tastes like rice.
Mr Bauduin makes eating healthy fun, not only through the meal selection, but also with the eatery's slick decor and music selection, where it works with DJs to create its own music set list.
Mr Bauduin says music is an important part to YOLO: "It changes from hip-hop/pop in the morning and afternoon to house music in the later afternoon and at night," he says.
This combination has become a hit with customers of all ages.
"We get youngsters who come because of our decor and music, the office crowd, and even the elderly community who come to purchase a healthier version of chicken rice or the cauliflower fried rice," says Mr Bauduin.

PURISTS' OIL
Nakula Organic Cold Pressed Virgin Coconut Oil Available at Cold Storage and Jasons supermarkets
GOING healthy need not mean making big changes in your life. You could start small, such as by switching to a different oil for cooking.
Coconut oil has been the rage for the last few years, and one of the new brands that's available is Nakula Organic Cold Pressed Virgin Coconut Oil.
The oil is made using fresh Sri Lankan coconut flesh, and has no preservatives added to it.
Coconut oil is reported to have anti-viral and anti-bacterial qualities, and is rich in medium chain fatty acids, which reportedly help to raise the good cholesterol levels and boost metabolism.
According to its distributor, Kevin Tan, managing director of Provenance Distributions, Nakula Coconut Oil is also unrefined, unbleached and chemically unaltered.
"Its pure properties make Nakula Coconut Oil multi-functional. You can use it both in the kitchen and in the bathroom," says Mr Tan.
His company is the exclusive importer of Just Picked CocoWater, and the first to popularise premium Tetra Pak coconut water in Singapore.
He explains that Nakula Coconut Oil can be used for cooking, such as in stir-fries, grilling or roasting. Or it can be drizzled on toast in place of butter, or added to coffee and tea as well. Coconut oil can also be taken on its own as a dietary supplement.
Some users of Nakula Coconut Oil have also used it to make coconut and gula melaka granola, avocado and coconut bruschetta and even yam and coconut chiffon cake.
On the beauty side, coconut oil is said to be a natural make-up remover. It also works as a moisturizer for the face and body, and by swishing coconut oil in the mouth for 20 minutes, it can help to clean teeth.
Apart from its benefits, Mr Tan believes that Nakula has been popular with consumers because of its price. A 500ml jar costs S$15.95 while a one-litre jar is S$29.95.
"This is one of the lowest in the market for premium unrefined organic oil," he says. says.
: http://yourhealth.asiaone.com/content/flab-fabulous#sthash.YOjX1uAE.dpuf


Rice Prices

as on : 22-02-2016 08:10:56 PM

Arrivals
Price
Current
%
change
Season 
cumulative
Modal
Prev.
Modal
Prev.Yr
%change
Rice
Shahjahanpur(UP)
378.10
243.73
39085.80
2200
2200
8.64
Manjeri(Ker)
290.00
NC
6380.00
3000
3000
-9.09
Gorakhpur(UP)
190.00
-17.39
3082.00
2120
2115
7.07
Gondal(UP)
180.00
1.12
10067.10
2015
2015
-0.74
Sitapur(UP)
135.00
-2.88
4428.00
2100
2200
-3.23
Pilibhit(UP)
110.00
1000
16358.00
2195
2195
-6.40
Kalipur(WB)
90.00
12.5
2946.00
2100
2050
-4.55
Chandabali(Ori)
85.00
NC
1098.00
1800
1800
28.57
Bindki(UP)
85.00
30.77
1698.00
2230
2260
6.95
Aligarh(UP)
70.00
NC
1635.00
2170
2150
14.21
Barasat(WB)
60.00
20
1435.00
2300
2300
2.22
Pandua(WB)
52.00
15.56
1135.00
2500
2600
-5.66
Samsi(WB)
50.00
NC
14610.00
2900
2800
-
Kasimbazar(WB)
43.50
-1.14
921.50
2380
2310
-8.46
Balrampur(UP)
41.00
30.16
992.00
2040
2040
-0.49
Dadri(UP)
36.00
-10
1258.00
2065
2070
-2.82
Kolhapur(Laxmipuri)(Mah)
35.00
16.67
825.00
3000
3000
-
Taliamura(Tri)
32.00
-8.57
240.00
2300
2300
-
Ghaziabad(UP)
30.00
-57.14
1590.00
2070
2075
-2.59
Jasra(UP)
30.00
33.33
295.50
2070
2060
3.50
Partaval(UP)
30.00
50
944.50
2075
2075
7.79
Purulia(WB)
30.00
NC
1332.00
2200
2180
-8.33
Banda(UP)
28.00
-6.67
279.50
2110
2150
-
Kondotty(Ker)
25.00
NC
75.00
2800
2700
-
Mirzapur(UP)
22.00
-15.38
934.50
1920
1920
2.13
Diamond Harbour(South 24-pgs)(WB)
18.00
-14.29
250.00
1850
1850
-
Champadanga(WB)
16.00
6.67
464.00
2350
2350
-12.96
Muradabad(UP)
15.00
50
351.50
2200
2245
11.39
Dibrugarh(ASM)
14.00
-30
641.30
2400
2400
-
North Lakhimpur(ASM)
13.90
-16.27
869.20
1900
1900
-
Naugarh(UP)
13.50
-15.62
407.00
2060
2060
9.28
Raiganj(WB)
13.00
8.33
543.00
2800
2750
-
Medinipur(West)(WB)
13.00
-18.75
404.00
2450
2450
2.08
Kannauj(UP)
12.20
-2.4
184.30
2195
2190
1.15
Kottayam(Ker)
10.00
NC
80.00
3500
3500
-
Kaliaganj(WB)
10.00
NC
356.00
2650
2650
-
Raibareilly(UP)
8.50
-19.05
196.50
2040
2025
2.51
Bhivandi(Mah)
8.00
NC
174.00
2250
3350
32.35
Baberu(UP)
8.00
14.29
96.00
2100
2125
11.70
Jeypore(Ori)
7.50
82.93
154.40
325
410
-
Chengannur(Ker)
6.00
NC
351.50
2500
2400
-13.79
Bolangir(Ori)
6.00
-20
106.50
2200
2200
-12.00
Jhansi(UP)
6.00
20
149.50
2100
2100
7.69
Tusura(Ori)
5.00
-16.67
104.50
2200
2200
-12.00
Buland Shahr(UP)
4.50
-71.88
265.00
2050
2040
1.49
Farukhabad(UP)
4.00
-11.11
159.50
2165
2180
-0.69
Islampur(WB)
4.00
33.33
171.20
2150
2150
-
Jeypore(Kotpad)(Ori)
3.80
-2.56
147.30
4100
3250
28.13
Imphal(Man)
3.80
-2.56
119.40
2900
2900
NC
Aroor(Ker)
3.00
NC
121.70
6900
7000
-25.81
Alibagh(Mah)
3.00
NC
75.00
3500
3750
118.75
Murud(Mah)
3.00
NC
159.00
2750
2750
71.88
Perinthalmanna(Ker)
2.90
NC
45.20
2600
2600
-
Darjeeling(WB)
2.50
-21.88
47.40
2800
2800
3.70
Melaghar(Tri)
2.00
-20
78.30
2350
2350
NC
Thoubal(Man)
1.80
-51.35
60.00
2800
2700
180.00
Lamlong Bazaar(Man)
1.60
14.29
40.90
2800
2700
-3.45
Shillong(Meh)
1.20
50
33.10
3500
3500
NC
Sardhana(UP)
1.20
NC
49.70
2075
2070
0.24
International Benchmark Price
Price on: 22-02-2016
Product
Benchmark Indicators Name
Price
Honey
1
Argentine 85mm, CIF NW Europe (USD/t)
2590
2
Argentine 50mm, CIF NW Europe (USD/t)
2650
3
Argentine 34mm, CIF NW Europe (USD/t)
2700
Guar Gum Powder
1
Indian 100 mesh 3500 cps, FOB Kandla (USD/t)
3780
2
Indian 200 mesh 3500 cps basis, FOB Kandla (USD/t)
1180
3
Indian 200 mesh 5000 cps, FOB Kandla (USD/t)
2300
White Sugar
1
CZCE White Sugar Futures (USD/t)
807
2
Kenya Mumias white sugar, EXW (USD/t)
691
3
Pakistani refined sugar, EXW Akbari Mandi (USD/t)
576
Source:agra-net
For more info
Market Watch
Commodity-wise, Market-wise Daily Price on 20-02-2016
Domestic Prices
Unit Price : Rs per Qty
Product
Market Center
Variety
Min Price
Max Price
Maize
1
Davangere (Karnataka)
Local
1340
1400
2
Kopargaon (Maharashtra)
Other
1330
1414
3
Derol (Gujarat)
Other
1460
1470
Paddy(Dhan)
1
Kasargod (Kerala)
Other
1450
1550
2
Aheri (Maharashtra)
Other
1450
1450
3
Dehgam (Gujarat)
Other
1350
1380
Mousambi
1
Thirurrangadi (Kerala)
Other
3500
3700
2
Taura (Haryana)
Other
2000
2000
3
Sultanpur (Uttar Pradesh)
Other
2300
2400
Onion
1
Kannur (Kerala)
Other
1500
1600
2
Palitana (Gujarat)
Other
500
675
3
Barnala (Punjab)
Other
800
1100
For more info
Egg
Rs per 100 No
Price on 22-02-2016
Product
Market Center
Price
1
Pune
365
2
Hyderabad
335
3
Nagapur
323
Source: e2necc.com
Other International Prices
Unit Price : US$ per package
Price on 22-02-2016
Product
Market Center
Origin
Variety
Low
High
Potatoes
Package: 50 lb cartons
1
Atlanta
Colorado
Russet
17
17.50
2
Baltimore
Idaho
Russet
18
20
3
Chicago
Nevada
Russet
14
16
Cucumbers
Package: cartons film wrapped
1
Atlanta
Mexico
Long Seedless
13
15
2
Chicago
Canada
Long Seedless
11
12
3
Detroit
Mexico
Long Seedless
14
14.50
Apples
Package: cartons tray pack
1
Atlanta
Virginia
Red Delicious   
25.75
26
2
Chicago
Michigan
Red Delicious
15
15.50
3
Miami
Washington
Red Delicious
24
27
Source:USDA
KARACHI: The State Bank of Pakistan (SBP) will soon allow banks to resume ties with Iranian counterparts, an official said on Monday, after the government’s recent lifting of sanctions on the neighbouring Persian Gulf country. 
“The central bank will soon issue instruction to banks regarding this,” Chief Spokesman Abid Qamar at the SBP said. “After the issuance of instructions to banks, all permissible transactions with Iran will be possible.” 
Qamar said currently the central bank-to-central bank contact is not necessary. “The decision of the (Pakistan’s) government will be intimated to Iranian central bank,” he added. 
In February, Pakistan lifted sanctions on Iran pursuant to UN Security Council Resolution 2231. The modalities for lifting of sanctions were finalised at an inter-ministerial meeting chaired by Finance Minister Ishaq Dar. The Ministry of Foreign Affairs issued the formal notification following the meeting, which will revive economic and commercial relationship between Pakistan and Iran, including in the areas of trade, investment, technology, banking, finance and energy.
The lifting of sanctions will enable the two countries to fully reinvigorate various bilateral and multilateral arrangements for promoting investments and cooperation, a finance ministry’s statement said.
In the past, business community demanded the government of resuming official banking channels with Iran to streamline trade but due to sanctions the government was unable to do so. 
The resumption of banking ties will enable local importers to open the letters of credit.
Western sanctions on Iran adversely affected its economic relations with Pakistan. The bilateral trade volume fell to $431.76 million in 2010/11 from $1.32 billion in 2008/09 despite the fact both the countries have a preferential trade agreement.
Officials at the Trade Development Authority of Pakistan (TDAP) hoped that Pakistan’s exports to Iran will increase in the post-sanction regime.
They said Iran is the world’s second top importer of rice and the biggest importer of Basmati rice. Iran was the major consumer of Pakistan’s aromatic rice as it consumed 65 percent of Pakistan’s Basmati rice exports.
“However, after tough economic sanctions, Pakistan lost this market to India,” said an official at TDAP.
According to the TDAP’s data, Pakistan’s major exporting goods to Iran in 2014/15 included paper and paper board, orange juice, Basmati rice and other verities, plastic material, surgical items, and kinnow. Major importing goods from Iran to Pakistan included liquefied petroleum gas, gram dry whole, electric transformers, petroleum products, steel scraps, sheep skin and dry fruits.
Business community has seen many economic benefits for both Iran and Pakistan in the post-sanction regime.
The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) said the lifting of sanctions will turn the mega projects, such as Pakistan-Iran pipeline project and 1,000 megawatts electricity imports from Iran into reality. 
FPCCI believed that the imported electricity from Iran is much cheaper than the electricity produced by the independent power producers in the country.
Commerce Minister Khurram Dastgir Khan, at a press conference last week, said the government devised strategies to promote trade between Pakistan and Iran in the post-sanctions regime.
Khan said the resumption of official transactions will help the country in clearing outstanding amount against electricity purchase to Iran. The amount was stuck due to sanctions.
http://www.thenews.com.pk/print/100144-SBP-to-allow-banks-to-resume-ties-with-Iran۔