Iftikhar Soomro made Director to Matco Rice BoDs
January
08, 2015
Pakistan's largest Basmati rice exporter, Matco Rice Processing
(Pvt) Limited has appointed Iftikhar Ahmed Soomro as an independent,
non-executive Director to its Board of Directors. Soomro brings along his vast corporate
experience of leading many prominent private and public sector companies of
Pakistan. He has previously served as the Chairman of APTMA and as a director
of Pakistan State Oil, Pfizer Pakistan, Park-Davis, Wyeth Pakistan, SITE, KESC,
Sindh Fine Textile Mills and other corporates. Soomro has also distinguished himself
in the field of public service, previously as an elected member of the Sindh
Assembly and member of Cabinet.
Currently he is the Honorary Consul General of
the Republic of Tunisia. Commenting
on the appointment, Jawed Ghori, Chairman of Matco Rice said: "We are
extremely pleased that Iftikhar Ahmed Soomro has joined the board of our
company, bringing with him a unique mix of skills and experience that will help
the board to guide Matco Rice to the next level of growth." Matco Rice is Pakistan's largest
Basmati rice exporter. International Finance Corporate (IFC), part of the World
Bank Group, is a shareholder of Matco Rice and invested equity in the company
for capacity-building to cater to increasing exports, support trade, and to
establish Matco as a global corporate in the region.-PR
Source with thanks: Business Recorder Pakistan
Rice and pulses tech-expo
begins in Raichur
Minister for Medical Education Dr. Sharan Prakash
Patil (right) using the multi-exercise machine put on display at the industrial
equipment expo at Gunj Kalyana Mantap in Raichur on Friday. Photo: Santosh
Sagar.A three-day rice and pulses tech-expo, an exhibition
of industrial machinery and equipments for rice and pulses production industry,
began at Gunj Kalyana Mantap here on Friday.Over 30 leading equipment and
machinery makers from different parts of India had put their products on
display in around 40 stalls.
Minister for Medical Education and Raichur In-charge,
Dr. Sharan Prakash Patil inaugurated the event that was organised by Raichur
Millers Association (RMA) and Tender Today Groups, Kunigal. The minister called
upon the industrialists engaged in rice and pulses production industry to keep
on technologically upgrading their industrial units so that cost of production
could be reduced.“Reducing the cost of production would not only help millers,
it would also benefit farmers and consumers as well,” the minister said.
Investors'
meet
The minister said that
he was making plans to organise Investors’ Meet in Raichur for attracting more
investments in agro-based industries in the district.“Raichur is blessed with
two rivers and resultant vast network of irrigation canals. Paddy, cotton and
pulses are grown on vast tracts of fields across the district. The district has
a great potential for agro-based industries thanks to the abundant availability
of raw material and water. We are planning to hold Investors’ Meet and the
chief minister has also responded positively,” he said.
Raichur Lok Sabha
member, B.V. Naik, Raichur Millers’ Association chairman and former MLA A.
Papareddy, Tenders Today Group representative Srihari N. Garipur, Tungabhadra
Command Area Development Authority chairman A. Vasanth Kumar, district
president of Raichur Chambers of Commerce and Industries Trivikram Joshi and
others were present.
Source with thanks: http://www.thehindu.com/news/national/karnataka/rice-and-pulses-techexpo-begins-in-raichur/article6772061.ece
Miller-hamali standoff hits rice milling in delta regions
The standoff between the millers
and hamalis over payment of loading and unloading charges at the warehouses of
the Food Corporation of India (FCI) has hit the paddy milling in the Krishna
and the Godavari delta regions.According to sources in Civil Supplies
Department, the hamalis refused to lift rice stocks from the lorry sent in by
the millers, demanding a hike in the charges. This has resulted in suspension
of paddy milling in Guntur, Krishna, West and East Godavari districts for the
past 10 days. Consequently, huge quantities of paddy are lying at the
procurement centres.
The Civil Supplies Department
sought to use the space in FCI warehouses for storage of food grains after
procurement and milling. The department offers Rs 12.50 per quintal towards
milling charges and Rs 2.5 as transport charges. Hamalis are demanding an
increase in the lifting charges by Rs. 1 from Rs. 2 per quintal. “When the
government is paying us Rs. 2.5 per quintal for transporting and unloading the
stock, how can we pay Rs. 3 for unloading alone?,” asks Ganni Prasada Raju, a
miller from Tadepalligudem.
The FCI authorities, however,
have resumed operations related to storage of food grains at its 11 warehouses
in West Godavari district from Friday as the deadlock was resolved following
the intervention of Collector Bhaskar Katamneni. The piquant situation is,
however, said to be continuing in the other districts.“The strike by millers is
unlikely to cause demand-supply problems in the market as there are sufficient
rice stocks with the government,” according to District Supplies Officer S.
Sivasankar Reddy. In West Godavari district alone, the government has procured
4 lakh tonnes of paddy when compared to 12 lakh and odd tonnes of procurement
target last kharif . The growers disposed of the rest of the produce to
millers, after retaining some for self consumption.The millers are allowed to
sell away 75 per cent of the grains after milling in the open market, while
giving away the remaining to the government according to the new levy targets.
Hamalis seek hike in unloading charges to Rs. 3, while the govt.
offers Rs. 2.5 for the same
Milling suspended in Guntur, Krishna and twin Godavari districts for
the past 10 days
Source with thanks: http://www.thehindu.com/news/national/andhra-pradesh/millerhamali-standoff-hits-rice-milling-in-delta-regions/article6773613.ece
Vietnam clinches one million
tonnes of rice deal in 2015
Friday, 09 January 2015 03:51
Member
enterprises of the Vietnam Food Association (VFA) have already clinched export
contracts for at least one million tonnes of rice with delivery scheduled for
this year
The volume is 200,000 tonnes
higher than the same period last year. (Image source: IRRI)
According to VietnamNet, most of the volume
would be delivered to customers in 2015, based on the contracts that VFA’s
member enterprises signed with importers last year.The volume is 200,000 tonnes
higher than the same period last year.Huynh The Nang, general director of
Vietnam Southern Food Corporation (Vinafood 2), however, said local rice
exporters might face many more difficulties this year.The rice demand of the
Philippines, Indonesia and Malaysia is forecast to jump, but Vietnam would have
to compete with Thailand, which wants to reduce its huge rice stockpiles, The
Nang added.
China, a major importer of Vietnamese rice in recent years, has
signed an MoU to purchase two million tonnes of rice from Thailand in 2015.Concerns
have also risen among domestic rice exporters for tougher competition from
India and Pakistan as these two nations have cut prices of their low and
medium-grade rice to compete with similar products of Vietnam.Currently, India
and Pakistan sell five per cent broken rice at US$385-395 per tonne and
US$380-390 per tonne respectively, compared to US$380-390 per tonne for
Vietnam’s same type. Their 25 per cent broken rice is priced at US$350-360 per
tonne and US$335-345 per tonne compared to US$350-360 per tonne of Vietnam.According
to VFA, Vietnam had exported 5.96mn
tons of rice from 1 January to 18 December 2014, falling 11 per cent against
the previous year.
Up to 83 per cent was shipped to
Asian and African countries and the rest to America, Europe and Oceania.In
order to boost rice shipments this year, Vietnam’s Ministry of Industry and
Trade suggested rice exporters diversify markets and seek to make full use of
the opportunities from bilateral and multilateral trade agreements, and follow
updates on importing markets.
Source with thanks: http://fareasternagriculture.com/crops/agriculture/vietnam-clinches-one-million-tonnes-of-rice-deal-in-2015
Yingluck urges fair treatment from NLA
Pravit
Rojanaphruk
The
Nation January 10, 2015 1:00 am
Maintaining her innocence against allegations of corruption and
dereliction of duty in the rice-pledging scheme, former prime minister Yingluck
Shinawatra urged the National Legislative Assembly (NLA) yesterday to be fair
for the sake of national reconciliation, saying she had already been impeached
three times and that she no longer held any political position.
Yingluck
spent an hour defending herself to the NLA after National Anti-Corruption
Commission (NACC) member Wicha Mahakhun accused her of dereliction of duty.
Wicha said her actions had inflicted a Bt229-billion "loss" on the
government. He said rice millers had exploited the scheme for their own
benefits while more than 10 rice farmers had committed suicide because of
delayed payments under the programme.
In urging the NLA to be fair to her, the former prime minister said
"the country can only move forward if there's justice", adding that
the unelected assembly should not be a political tool of anyone.
Yingluck said she had lost her position three times: first, when
she dissolved the House of Representatives at the end of 2013, second when the
Constitution Court impeached her, and third through the coup last May."How
can you impeach someone who does not have any [political] position?" Yingluck
asked the NLA yesterday, adding that the 2007 charter was also no longer in
existence.
Wicha insisted that the NLA had the authority and legitimacy to
conduct the impeachment proceedings. Impeachment could lead to Yingluck being
banned from politics for five years.
At the beginning of his hour-long speech, Wicha said the
junta-sponsored provisional constitution empowered the NLA to serve as both the
upper and lower houses of Parliament, so its members could vote on the
matter.Although Wicha acknowledged in his speech that there existed no evidence
of Yingluck's involvement in any corruption related to the rice-pledging
scheme, he said than as prime minister and chairwoman of the National Rice
Policy Committee she should be impeached because she had allowed the severe
losses and corruption to continue.
He said more than 10 farmers had committed suicide because of the
failed rice-pledging scheme. He said the NACC had also warned the
administration twice to stop the project but the government refused because it had
been a major policy pledge to voters by the Pheu Thai Party.
Yingluck insisted she was clean and that the claims of damage
incurred by the rice-subsidy programme was distorted and overblown. The former
PM added that it was the government's duty to assist poor farmers and this was
not the first such scheme in the Kingdom, and Thailand is not the only country
to subsidise farmers.
She said that in appraising the programme, profit or loss should
not take precedence over benefits to farmers who are the backbone of the
country. She said the trickle-down effect on the economy, including the
resultant increase in the spending power of farmers and tax collected, should
also be considered.The former prime minister added that her government had made
attempts to tackle corruption, citing the ban on 12 rice mills from the
programme on top of 276 legal cases filed against those who had allegedly
committed irregularities.In his remarks to the assembly, Wicha stressed that
the NACC had sought Yingluck's impeachment fairly and honestly, adding that the
ex-PM was given all opportunities to defend herself.However, Yingluck described
the NACC-led procedure as rushed compared with other impeachment cases, which
had taken years. She said no NACC subcommittee was set up and some defence
witnesses were denied a chance to be heard.
Wicha said the Yingluck administration's mismanagement of the
subsidy programme had led to Thailand's rice exports falling by 35 per cent,
bringing the country down from the world's top rice exporter to No 3. Yingluck
argued that this had happened because of massive dumping of rice by one major
rice-producing nation and not the pledging scheme. Yingluck predicted that Thailand
would this year regain its position as the world's top rice exporter, adding
that this would be due to the rice stocks stored under the pledging programme.
After her defence arguments, Yingluck told the media that she had
done her best and felt relieved. Wicha later told the media that no one could
make up for the loss of farmers' lives who had committed suicide because they
were not paid by the government in time.The NLA's inquiry panel is scheduled to
question the NACC and Yingluck next Friday. Later, both sides will be given a
chance to make their closing arguments, either in person or in writing. The
assembly tentatively is scheduled to vote on the matter on January 23. Police
and some military officers were present in front of the Parliament Building
yesterday, although only a few people showed up to offer their support to
Yingluck. A Pheu Thai source who asked not to be named said the party had
dissuaded Yingluck's supporters from gathering to show the public that one
woman had the guts to confront a group of men.
Source with thanks: http://www.nationmultimedia.com/politics/Yingluck-urges-fair-treatment-from-NLA-30251633.html
Blogger Event
Reaches Thousands of Consumers in Turkey
Blogger blast features
U.S.-grown rice
ISTANBUL, TURKEY -- Last month, the USA Rice Federation invited 25 key
food bloggers and health specialists to a New Year cooking event here featuring
celebrity chef, Fikret Ozdemir. During
the half day event, attendees worked alongside Chef Ozdemir, cooking healthy
and delicious dishes featuring U.S. rice and wild rice.The bloggers took photos
and video of their hands-on cooking experience that were used to generate
tweets and Facebook posts, ramping up interest in U.S. rice and providing an
opportunity to have a direct conversation with Turkish consumers.
"By exposing the food bloggers to the versatility, unique flavor,
and heatlth benefits of U.S. rice, they then encourage their followers to use
more U.S. rice and wild rice in their recipes," said Jim Guinn, USA Rice
vice president of international promotion.
"These social media platforms have great influence on
consumers." The U.S. is the number
one rice exporter to Turkey with 40 percent market share. However, wild rice is a new product for
Turkish consumers and promotional activities, such as the food blogger event,
are specifically designed to introduce wild and white rice dishes to the media
and consumers.
Contact: Eszter Somogyi, 011-49-40-4503-8667
Source with thanks: USA Rice Federation
Rice Investors
Laud FG’s Import Quota Policy
—
Jan 9, 2015
The Nigerian Rice Investors’
Group has lauded the import quota allocation given to rice investors in the
country as a step in the right direction.The group, which addressed the press
in Abuja, yesterday, said that the rice import quota policy of the federal
government was geared towards self-sufficiency in rice production in the
country.It said this was the first time import quota was being allocated to the
right people with verifiable investments in rice production.
The former
minister of justice and Attorney General of the Federation, and secretary, Rice
Processors Association of Nigeria (RIPAN), Michael Aondoakaa, emphasised that
prior to the emergence of President Goodluck Jonathan’s administration nobody
had ever wondered who gets what quota.“The truth is that many have had
witnessed the old system where some highly connected people influenced the rice
quota allocation. This administration made sure it went to rice farmers with
visible investments,” said Aondoakaa.
The president of the Nigerian Rice Investors Group and managing
director of Elephant Group, Tunde Owoeye, said that the rice policy of the
present administration is visible for all to see.“If you travel through
Zamfara, Niger, Benue, Sokoto and many other states in the country, you will
see vast plantations of rice in the last two year. We have also seen some of
our members who were traders make huge investments in local rice production. We
have seen increase in employment and value creation in the rice sector, said
Owoeye.He further stated that the federal government has provided rice
investors with improved seedling and that is the reason rice production is
getting better.
On his part, the president of Rice Millers, Importers and
Distributors’ Association of Nigeria, Abubakar Mohammed, noted that five years
ago, there was only one processing mill in Nigeria but the number grew to 24 by
2014. He said that before President Goodluck Jonathan’s administration, rice
paddy produced from Nigeria was one of the worst in the world, noting that this
has changed.“We process 800,000 tonnes of paddy rice annually and the
government is putting measures in place to produce additional 360000 tonne. All
these happened with the help of President Goodluck Jonathan and the minister of
agriculture and rural development, Dr Akinwunmi Adesina,” said Abubakar.
Ag Coalition Seeks End to Cuba Embargo
DANIEL LOOKER01/08/2015 @
3:28pmBusiness Editor
Major U.S. farm groups, Cargill,
and CoBank were among nearly 30 organizations that launched the U.S.
Agriculture Coalition for Cuba in Washington Thursday.The new group drew
support from Agriculture Secretary Tom Vilsack, U.S. Senators Jerry Moran
(R-KS) and Amy Klobuchar (D-MN) and members of Congress who support
liberalizing trade and travel to the island nation of 11 million people 90
miles from Florida.The Obama Administration announced in December that it
intends restore diplomatic relations with Cuba and will ease some Treasury
Department restrictions on the sale of agriculture commodities and medicine, a
loophole in the trade embargo which Congress approved in 2000.
But businesses and commodity
groups still can’t compete as well with complicated cash-only rules that
Congress needs to change, the group said Thursday.“We can’t offer any credit
and our competitors can,” said Betsy Ward, CEO of USA Rice Federation.Vilsack
said that Cuba imports about 80% of its food and is a $1.7 billion market.Yet,
according to Grant Kodavy, who heads Cargill’s sales in the Americas, the U.S.
ships very little grain to Cuba despite some early successes after the easing
of restrictions on food sales in 2000. While the U.S. supplies Mexico with 95%
of its corn, in Cuba, “the United States does not cmpete on an even footing.
”Members of Congress, including
Representative Kevin Cramer (R-ND) said that easing the trade embargo further
won’t be easy and may have to be done in incremental steps. “We can do it with
a short leash,” he said.The American Farm Bureau Federation, the American
Soybean Association and the National Corn Growers Association are among the
groups launching the coalition.
“It’s time we have a chance to
better compete for Cuba’s business,” said NCGA president Chip Bowling in a
statement. “NCGA has long supported normalized trade relations with Cuba, as
part of our efforts to expand markets for U.S. corn and feed the world. We are
proud to join this coalition. We will work closely with our fellow coalition
members to advance a trade relationship with Cuba that is efficient, globally
competitive, and benefits both nations.”"Like any new and developing
market, Cuba represents a great opportunity for soybean farmers in the
U.S.," said ASA president, Wade Cowan. "We are proud to be part of the
USACC because expanding our relationships with markets like Cuba generates
concrete value for American farmers by increasing demand not only for soybeans,
but also for the livestock and meat products that make up our largest customer
base.”
Vietnam cuts rice export floor price to $360
per tonne - Food Association
HANOI
Jan 9 (Reuters) -
Vietnam has lowered its floor price for exports of 25 percent broken rice by
5.3 percent to $360 a tonne amid thin demand for the commodity in the world's
second-largest exporter.The floor, set by the Vietnam Food Association, will
come into effect on Jan. 12, according to a statement from the association to
traders seen by Reuters on Friday.The previous floor for the grade was set at
$380 a tonne in late November.
The agriculture
ministry said last month that Vietnam's rice exports in 2014 were expected to
have dipped slightly to an estimated 6.53 million tonnes, putting the Southeast
Asian country far behind top exporters Thailand and India. (Reporting by Ho
Binh Minh and Mai Nguyen; Editing by Alan Raybould)
Source with thanks:http://in.reuters.com/article/2015/01/09/vietnam-rice-idINL3N0UO36X20150109
Bulog revives role as buffer stock agency, gets new
boss
Khoirul Amin, The Jakarta Post, Jakarta | Business |
Fri, January 09 2015, 8:23 AM
Business News
to its old function as a buffer stock agency for the country’s
main commodities, which was removed under the reform program mandated by the
International Monetary Fund (IMF) in late 1998.As part of the change, the
government has recently appointed a senior banker Lenny Sugihat as Bulog’s new
president director to replace Sutarto Alimoeso.“Under the new management, Bulog
will not only become a buyer for local farmers’ products but also a price
stabilizer of main commodities,” said State-Owned Enterprises (SOEs) Minister
Rini Soemarno following the appointment of the new president.Lenny, who has
previously worked at state-owned lender Bank Rakyat Indonesia (BRI) for over 30
years, obtained Master of Business Administration (MBA) from University of
Houston, Texas, US in 1993.
The 58-year-old woman
held a position as credit risk management director at BRI as her latest
position prior being appointed Bulog CEO.Rini said that under the leadership of
Lenny, the government would extend the number of foodstuffs that Bulog had to
oversee, from five to seven.Bulog would have obligation to maintain supply and
stabilize prices of rice, corns, soybeans, sugar, onions, chili and beef.
Lenny, who will start assuming office on Jan. 2, commended that she would first determine scale of priority under her leadership and carry out efficiency programs in a bid to guarantee supply of main commodities to the public.The three commodities which we will likely prioritize are rice, soybeans and onions,” she said.Bulog had to make sure that it would buy the seven food commodities from local farmers at good prices, so the farmers could earn decent income, Rini said.In addition, Bulog had to be allowed to import the commodities should the move was needed to maintain the commodities’ prices in local market, she went on.
To support the firm in carrying all of the tasks, SOEs Ministry
would propose the President to add the number of Bulog’s directors to a maximum
of seven people from the current five people, she said, adding that it would
require a revision of a presidential regulation.Bulog, which has total assets
of Rp 25.9 trillion (US$2.05 billion) in 2013, was initially established in
1967 as a buffer stock agency, whose main task is to stabilize prices of main commodities
such as rice, sugar and soybean. It then started becoming a state-owned
enterprise, just like today, in 2003.While the state enterprise has been since
its inception tasked to stabilize certain commodities’ prices, its current role
seems less significant, with prices of commodities like onions and chili
sometimes peaking up without control.
In 1995, Bulog was tasked to stabilize prices and maintain
supply of rice, sugar, wheat flour, soybeans and other foodstuffs.The role was,
however, narrowed down in 1998 under of the economic reforms mandated by the
IMF as part of the agency’s bailout program to help Indonesia cope with the
financial crisis.“Under the current government, we want to make sure that Bulog
can contribute in both helping farmers earn decent income and stabilizing
foodstuffs’ prices,” Rini said. As
of December last year, Bulog absorbed 2.5 million tons of local rice or 84
percent of its total target of 3 million tons in 2014.For this year alone,
Bulog has previously stated that it targeted to absorb 3.2 million tons of rice
produced by local farmers as rice production is forecast to surge.
Source with thanks:http://www.thejakartapost.com/news/2015/01/09/bulog-revives-role-buffer-stock-agency-gets-new-boss.html
Incentive Boost for Rice Millers
By
Published: 09th January 2015 06:03 AM
Last Updated: 09th January 2015 06:03 AM
BHUBANESWAR: The State Government
has announced incentives to encourage rice millers in paddy procurement and
export of surplus rice.While the Government exempted two per cent Central Sales
Tax (CST) on inter-State trade of rice, the millers can reimburse two per cent
market fee paid to regulated market committees on equivalent paddy traded
outside the State. According to rice millers, the waiver of CST will boost the
trade of surplus rice in a transparent manner.The State Government has made a
provision of `one crore for reimbursement of market fee to the millers.
The Food Supplies and Consumer Welfare Department has
requested district Collectors to ensure that levy rice due from millers is
collected before they dispose of any stock in the open market. The millers are
required to deliver 25 per cent of levy rice to the Food Corporation of India
out of the paddy procured by them from mandis or directly from farmers.With the
exemption of CST and market fee, the Odisha traders will be able to compete
with traders of other States. Odisha being a rice surplus State, millers can
sell the surplus rice to registered dealers through fair means, official
sources said.
Neighbouring States like West
Bengal, Chhattisgarh, Jharkhand and Bihar have already allowed free trade of
rice.The State was at a disadvantage due to the prevalent tax structure. As
surplus rice could not be moved out of the State, Odisha was facing acute
shortage of storage space.For paddy procurement under levy route, the millers
have to pay the entire cost. The Government, however, debarred defaulting rice
millers from taking part in the paddy procurement process.
As per procurement guidelines for
Kharif Marketing Season (KMS) 2014-15, the millers can participate in
procurement process only if they have delivered 100 per cent custom milled rice
for the paddy taken by them during 2013-14.In order to implement the decisions,
the Government has decided to have a facility to store paddy on temporary
basis. It has decided to store 10 lakh tonne of paddy during KMS 2014-15 in CAP
(cover and plinth) storage locations under the open sky.
Source with thanks:http://www.newindianexpress.com/states/odisha/Incentive-Boost-for-Rice-Millers/2015/01/09/article2610950.ece
CME
Group/Closing Rough Rice Futures
CME Group (Prelim): Closing Rough Rice Futures for January 9
|
Month
|
Price
|
Net Change
|
|
January 2015
|
$11.325
|
+ $0.030
|
|
March 2015
|
$11.545
|
+ $0.020
|
|
May 2015
|
$11.7655
|
+ $0.010
|
|
July 2015
|
$11.990
|
+ $0.010
|
|
September 2015
|
$11.565
|
+ $0.010
|
|
November 2015
|
$11.440
|
+ $0.010
|
|
January 2016
|
$11.670
|
+ $0.005
|
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