18th September, 2014
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TOP Contents - Tailored for YOU Latest News Headlines… Livelihood 360’ App Translates into Instant Cash, Benefits to Farmers Better Irrigation Systems and Fertilizers Usage can Reduce Production-Productivity Mismatches in India, Say Experts Continuing Drought May Disrupt Post-Harvest Rice-Straw Decomposition, Say California Rice Growers Brazil Paddy Rice Index Slightly Up from Last Week Declining Basmati Rice Exports to Iran and Iraq May Impact Domestic Prices in India, Say Exporters Farmers in Indian State Haryana Boost Rice Production with Climate Smart Technologies Global Rice Quotes Giant Rodents Plague Temperate Rice Farmers South Korea Considers 513% Tariff on Rice Imports Oryza Afternoon Recap – Chicago Rough Rice Futures Reverse Recent Gains as Bulls Fail to Muster Support Which Countries are Most Dependent on Rice Exports? Oryza Overnight Recap – Chicago Rough Rice Futures Continue to Pull Back as Buying Interest Disappears Philippines Domestic Rice Prices Increase Sharply This Year Settling Rice Debts Sooner will Reduce Public Debt Levels, Says BACC President Thailand Rice Sellers Increase Some of Their Quotes; Vietnam Rice Sellers Lower Some of Their Quotes Today
NEWS DETAILS:
Livelihood 360’ App Translates into Instant Cash, Benefits to Farmers Now, when farmers ask the casual ‘So, what’s up,’ in India, they better get the right answers plus some instant cash, thanks to the ‘Livelihood 360’ app developed by Raghu Kanchusthambam, young Indian engineer and Chief Executive Officer of Concept Waves.Raghu graduated in computer science and engineering from the prestigious Indian Institute of Technology – Guwahati, India, in 2000. After having worked in IBM for a few years, he floated his own company called Concept Waves in 2006 which
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focusses on providing technology solutions for education. His association with social organization Naandi Foundation for education, put him in touch with the farmers of the state. He will represent India in the ‘The Best App in Asia’ category at the two-day Digital Winners conference in Norway in October. Raghu has designed a mobile app called ‘Livelihood 360’ which is benefitting 12,000 tribal farmers in 650 villages in interior Indian state. The app bagged the NASSCOM Social Innovation Honors and laurels at Vodafone International Congress. It even made it to top 3 at the Manthan Award South Asia and Asia Pacific. Excerpts from an exclusive interview with him: Oryza: What is the app ‘Livelihood 360’ about and how does it benefit the farmer? Raghu: The application is a rural Enterprise Resource Planning (ERP) platform and it facilitates speedy tracking of information. Farmers co-operatives are popular in India and several Asian countries. A co-operative is a support group of a few thousands of farmers through which they all come under one umbrella to sell their produce and earn their livelihood. In most cases, there are one or two collection bodies which collect the farmers’ produce and after delivers it to the final user. The collection bodies then go back to the records to see how much each farmer has produced, how much he has to be paid, whether he has already borrowed any money from the co-operative etc. Typically, it takes about three weeks to a month from the time the farmer hands over his produce to the time he actually gets paid. At times, the farmer also has to take time out to visit the office to get his payment. The ‘Livelihood 360’ app ensures that the red tape is cut-through and their payments are done instantaneously by giving all the information about the farmer within seconds. For example, there are 12,000 farmers in the hilly region of Araku in the southern state of India. They all produce organic coffee and the truck drivers who pick up the coffee use the mobile app to find out how much the farmer has to be paid and settles the bill in a few minutes. So the app benefits farmers by ensuring that he gets paid correctly in an instant. Oryza: How does the app work? Can a rice or a wheat farmer also use the app? Raghu: Yes, absolutely! A rice or wheat farmer, or for that matter, any farmer can benefit from this app. Instead of Araku, take a rice-producing area in Vietnam. One can simply adopt the same app and system for the rice farmers. In this, every farmer is given a unique farmer code, a ten-digit number. Once the truck driver picks up the coffee or rice from the farmer, he feeds the farmer’s unique code onto his mobile phone. In a few seconds, the app presents a status report on how much he needs to be paid. The app cost is so nominal per month it is as good as free! I personally visited the farmers twice to understand how they operate and on what scale. Currently, the app has been a great success with coffee farmers. We have also applied it for pepper farmers. Literally, any farmer can benefit from this simple app.
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Oryza: So how much does it cost? Do farmers need to have a mobile phone and download it to use this? Raghu: No, farmers are given the code and just have to quote that to get paid. It is the pick-up agent who uses it. Even a basic, regular feature phone can use this app. The other benefits of the app are that it helps in data collection which helps one to predict how much his next yield will be. The farmer reports can then be pushed from the mobile phone to the cloud where crop researchers can find patterns in the farmer’s working style and suggest better way to increase his yields. Oryza: Don’t the farmers/collection agents need to be tech savvy to handle such apps? Raghu: Not really. The system is quite basic and anyone literate can use and operate it. Besides, the NGO also invests a few days to help them understand the system. Oryza: What else can your award-winning app do? Raghu: Knowledge is power and information is the tool through which one can empower the farmer. Currently what we are using is just the tip of the iceberg. The app gives one access to unprecedented amount of data and it can be used to find out solutions for several societal and civic issues as well. We are working with Pakistan sheep industry and some companies in Europe which are keen to use the app. For details about the app, farmers and co-operatives can write in to support@conceptwaves.com or call on +91-9676395300 and USA : Phone: +1 760-217-0126
Better Irrigation Systems and Fertilizers Usage can Reduce Production-Productivity Mismatches in India, Say Experts Experts say rice productivity/yield in different Indian states is not proportionate to the volume of rice produced by them due to variation in irrigation systems and use of fertilizers.An article in Live Mint says highest rice producing states in India have low per hectare yields and less rice producing states have high yields. According to 2012-13 production-productivity data, Punjab, Haryana and Andhra Pradesh accounted for top three states with highest yields, but in terms of production they rank
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4th, 9th and 3rd respectively. Yields in top rice producing states of West Bengal and Uttar Pradesh ranked 4th and 6th respectively. States of Odisha and Chhattisgarh, whose production in the 6th and 7th places, have much lower yields. Similarly states of Delhi, Tripura and Kerala, which produce lower quantities of rice have relatively higher yields. Experts say this production-productivity mismatch is due to factors such as availability of water (from rainfall and irrigation) and amount of fertilizer used. For instance Punjab is 100% irrigated and does not depend on rainfall. However, most of the states are partly irrigated and have to depend on rains. Similarly, farmers in Punjab use approximately 200 kilograms of fertilizer for one crop whereas other states don't use this high amount of fertilizer. They also noted that states such as Andhra Pradesh, Tamil Nadu, Tripura, Uttarakhand and Himachal Pradesh, which have been implementing system of rice intensification (SRI), a low water, labor intensive, organic method of rice farming, have recorded higher yields. Experts said that apart from improved irrigation Systems and fertilizers usage, constant upgradation of technology is imperative to reduce such production-productivity mismatches and further boost rice production in the country. The government of India, in its fourth advance estimates for major crops, has estimated India's rice production for 2013-14 marketing year (October 2013 - September 2014) at a record 106.54 million tons, up about 1% from around 105.24 million tons in 2012-13. USDA estimates India's milled rice production at 105 million tons in MY 2013-14 (October - September), marginally down from around 105.24 million tons produced in MY 2012-13. Tags: India rice production, India rice-producing states
Continuing Drought May Disrupt Post-Harvest Rice-Straw Decomposition, Say California Rice Growers Sep 17, 2014
California rice producers in the U.S. have expressed concerns that the continuing drought in the state would likely impact the decomposition of the post-harvest rice-straw left in the fields posing problems for planting next crop, according to local sources.Rice growers say they had managed to grow a decent crop this year despite
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drought and lesser water supplies by adopting dry-seeding technique and planting more of drought-resistant rice varieties. California's paddy rice acreage has so far declined to around 420,000 hectares in 2014, down about 25% from around 525,000 hectares planted last year.Now, rice growers are worried that decomposition of rice-straw needs huge amount of water and if sufficient water is not available, they have to find other means such as selling the rice-straw as cattle feed to remove it. Some researchers at the University of California Cooperative Extension noted that some winter rains could help for decomposition if fields get adequately soaked. But if straw doesn't decompose completely by spring, rice farmers may have to do more field work before they plant for the next crop. Also half-decomposed straw could hurt rice plants in the early stages, they said. There are also other disadvantages with removing the rice-straw completely as the farmers may have to use more fertilizer. Rice-straw contains significant portion of nutrients such as nitrogen, potassium and phosphorous and when decomposed it provides sufficient amounts to the crop leading to lesser usage of fertilizer. Decomposed rice-straw serves as an important wildlife habitat during the winter for millions of birds. Market experts say paddy production in other rice producing states of the U.S. seems to be better leading to an increase in the overall production. USDA estimates the U.S. milled rice production to increase to around 7.3 million tons (around 10.4 million tons, basis paddy) in MY 2014-15 (August - July), up about 20% from around 6.1 million tons (about 8.6 million tons, basis paddy) in the previous year. It estimates the rice area at around 1.2 million hectares, up about 11% from around 999,000 hectares last year. Tags: California rice production, U.S. rice production, Rice-straw decomposition
Brazil Paddy Rice Index Slightly Up from Last Week Sep 17, 2014
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Oryza.com -
The Brazilian paddy rice index maintained by CEPEA reached around 36.85 real per 50 kilograms as of September 16, 2014, up about 0.05% from around 36.83 real per 50 kilograms recorded on September 9, 2014. In terms of USD per ton, the index reached around $315 per ton on September 16, 2014, down about 2.5% from around $323 per ton recorded on September 9, 2014. Tags: Brazil paddy rice index, Brazil CEPEA rice price index
Declining Basmati Rice Exports to Iran and Iraq May Impact Domestic Prices in India, Say Exporters Sep 17, 2014
India's basmati rice exports to Iran and Iraq have declined by nearly half in the first four months of the fiscal year 2014-15 (April - March) causing concerns over the overall basmati rice exports this year as well its impact on the domestic prices, according to local sources.India exported around 65,960 tons of basmati rice to Iraq in April - July 2014, down about 47% from around 124,000 exported during the same period last year. The
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ongoing Islamist insurgency problems in Iraq are main reason for slowing down of its rice imports, say India rice exporters. On the other hand India's basmati rice exports to Iran also halved to around 330,000 tons during the first four months of FY 2014-15 due to stringent quality norms and increase in import tax from 22% to 40%.Indian exporters are negotiating with Iran to simplify its quality norms. Iran had revised the accepted level of arsenic in basmati rice to 80 parts per billion (ppb) from 120 ppb. The President of the All India Rice Exporters Association (AIREA) told local sources that if this trend continues, India may not be able to meet its last year's export level of around 3.8 million tons. Meanwhile, Indian basmati rice producers have increased basmati rice acreage in this kharif season (June December) by about 40% to around 3.5 million hectares from last year's 2.5 million hectares in expectation of higher returns. Officials at the Indian Agriculture Ministry have estimated 2014-15 basmati rice production to reach around 8.5 million tons, up about 40% from around 6.25 million tons produced last year. In this backdrop, exporters are concerned if lower basmati exports would lead to higher supplies in the country putting a downward pressure on prices. Some exporters said basmati prices may decline by about 10% from their current levels of Rs.90 - Rs.100 per kilogram (around $1,472 - $1,635 per ton). Tags: India basmati rice exports, India basmati rice prices, All India Rice Exporters Association (AIREA), India basmati rice acreage, India basmati rice produciton
Farmers in Indian State Haryana Boost Rice Production with Climate Smart Technologies Sep 17, 2014
Rice farmers in the Indian state of Haryana have started adopting climate smart technologies to combat the impact of unpredictable weather conditions on rice production, according to Reuters.Haryana and Punjab, part of the Indo-Gangetic plains, are highly prone to global warming induced climate changes, say experts from the U.N. Intergovernmental Panel on Climate Change (IPCC). They predict that average temperatures in this region are likely to increase by 5 degrees Celsius
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by 2080 seriously impacting rice production. Farmers in the state have already started feeling the impact of climate changes through increasing temperatures, ground water depletion, declining soil fertility and soil salinity. To overcome these challenges, they have learnt using various technological devices which can significantly save water and fertilizers, cut their labor costs, remove crop residues as well as reduce carbon emissions from their rice fields. They have been using direct seeding technique, in which machines are used for sowing seed rather than transplanting manually. This reduces water usage as well as labor significantly. They are also using other lasercontrolled-devices such as Lazer Levellers to flatten the surface with very little water. Happy Seeders, which can be attached to a tractor, are useful in removing crop residues by blending them into the soil without the need to burn them. Thus they are effectively reducing carbon emissions while retaining soil fertility. Apart from this agricultural cooperatives are guiding farmers by continuously keeping them informed about weather forecasts, arrival of new seed varieties and treating infestations.Since the technologies are costly and not affordable by many farmers, cooperatives invest in such technologies and let them out to farmers for an amount. Thus all farmers are able to use these technologies efficiently.Haryana is the eleventh largest riceproducing state in India and accounts for about 4% of India's total production. The state’s production has steadily increased from 2.72 million tons in FY 2001-02 (April – March) to around 3.98 million tons of rice in FY 2012-13, according to the Directorate of Economics and Statistics under the Ministry of Agriculture. Tags: India rice production, Haryana rice production, climate-smart technologies, direct seeding technique
Global Rice Quotes Oryza Global Rice Quotes September 17th, 2014 Long grain white rice - high quality Thailand 100% B grade 445-455 Vietnam 5% broken 440-450 ↔ India 5% broken 435-445 ↔ Pakistan 5% broken 420-430 ↔ Cambodia 5% broken 465-475 ↔ U.S. 4% broken 525-535 ↔ Uruguay 5% broken 610-620 ↔
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Argentina 5% broken 610-620
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Long grain white rice - low quality Thailand 25% broken NQ ↔ Vietnam 25% broken 400-410 ↔ Pakistan 25% broken 370-380 ↔ Cambodia 25% broken 450-460 India 25% broken 390-400 ↔ U.S. 15% broken 515-525 ↔
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Long grain parboiled rice Thailand parboiled 100% stxd 430-440 Pakistan parboiled 5% broken stxd 440-450 India parboiled 5% broken stxd 420-430 U.S. parboiled 4% broken 600-610 ↔ Brazil parboiled 5% broken 595-605 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 1060-1070 Vietnam Jasmine 585-595 ↓ India basmati 2% broken NQ ↔ Pakistan basmati 2% broken NQ ↔ Cambodia Phka Malis 880-890 ↔ Brokens Thailand A1 Super NQ ↔ Vietnam 100% broken 335-345 Pakistan 100% broken stxd 325-335 Cambodia A1 Super 360-370 ↔ India 100% Broken stxd 330-340 Egypt medium grain brokens NQ ↔ U.S. pet food 460-470 ↔ Brazil half grain NQ ↔
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All prices USD per ton, FOB vessel, oryza.com
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Giant Rodents Plague Temperate Rice Farmers Sep 17, 2014
Rodent damage to rice production in the tropics has seen increased interest by the research community over the last couple of decades, but rodents are a big problem for temperate rice farmers too.The South American native rodent species commonly known as nutria has caused significant damage to rice farmers in temperate regions ever since their introduction around the world for the purposes of fur production. The nutria shares similar habits to the rice-field rat which is a major pest for rice farmers in Southeast Asia. Like the rice-field rat, the nutria is semi-aquatic which means it spends most of its life in and around water. Nutria is therefore naturally attracted to rice fields which explains why rice is one of the most badly affected crops by nutria damage. Another similarity with nutria to other major rodent pests in the tropics is its impressive ability to reproduce, leading to a huge increase in its population in relatively short periods. A female nutria is capable of having up to four litters of four to five young per litter and the young are able to reproduce after just 5 months.One major difference between the nutria and the other major rodent pests which affect rice farmers in the tropics is its size. Nutria can grow up to two feet long and weigh up to 10kg. It’s their size which causes the biggest problems for rice farmers. Their burrowing activities mean that the large holes they create in the levees of the rice irrigation structures substantially increases the chances of the levees collapsing and draining out the flooded rice fields. The much larger size of nutria compared to other rodent pests also means that they have a much larger appetite than other pests therefore their foraging on the rice crop is very destructive. One thing that is on the side of the temperate rice farmers is the winter. The low temperatures act as a natural control of the nutria population which also puts a hold of the breeding season. However, increasing average temperatures due to climate change may turn the tables on the farmers whereby milder winters in the temperate regions may become more frequent which will favor a continuous increase in the nutria population. What is clear is that while nutria is a relatively new rodent species to most temperate regions of the world, introduced less than a century ago in most countries, it is here to stay and so perhaps deserves more attention from scientists and the rice sector. Tags: nutria, Rodent damage, temperate rice, crop damage, Adam John
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South Korea Considers 513% Tariff on Rice Imports Sep 17, 2014
South Korea is likely to set tariffs on rice imports at around 513%, according to local sources.The Ministry of Agriculture, Food and Rural Affairs and the Ministry of Trade, Industry and Energy will meet with the ruling party law makers on September 18 to finalize the tariff. Ruling Party official told local sources that a high tariff can only help locally produced rice to compete with the imported rice.The official also noted that the government is considering a host of other measures such as banning retailers from selling domestic and imported rice together. Last week, the government decided to increase its fixed direct subsidies to rice farmers to around 1 million won (around $954) per hectare, up about 10% from existing 900,000 won (around $859) per hectare as part of its measures to open its rice import market. The South Korean government will notify the World Trade Organization (WTO) regarding its decision to liberalize the rice import market and of the tariff rate before the end of this month. It will open its rice market from January 2015.According to the WTO quota agreement, South Korea was allowed to import 4% of its annual rice consumption for ten years under a mandatory rice import quota in 1993. The agreement was extended for another ten years in 2004 obligating the country to import about 7.96% of its annual rice consumption. Currently, South Korea has an obligation to import around 409,000 tons of rice, or 9% of total consumption, under the WTO minimum market access (MMA) volume at a 5% tariff. The MMA import quota remains applicable even after a country liberalizes its import market as per the WTO rules. The government decided to open its rice import market as it is keen on protecting its own production in the light of declining rice consumption by cutting down on imports.Farmers and civic groups opposed the move saying it would hurt their livelihoods and the local rice sector. Tags: South Korea rice import tariffs, South Korea rice imports, South Korea rice production, WTO, MMA quota
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Oryza Afternoon Recap – Chicago Rough Rice Futures Reverse Recent Gains as Bulls Fail to Muster Support Sep 17, 2014
Chicago rough rice futures for Nov delivery settled 20.5 cents per cwt (about $5 per ton) lower at $12.510 per cwt (about $276 per ton). Rough rice futures turned lower once again today after failing to log fresh highs two sessions in a row, and now appear prepared to reverse all of the gains earned late last week. Today’s action is seen as a bearish confirmation of a negative turn and some traders expect that we might see a testing of underlying support near the $12.200 per cwt (about $269 per ton) if the market is unable to capture buying interest at nearby support around $12.400 per cwt (about $273 per ton). The other grains finished the day with mixed results as corn and meal slipped while beans and wheat gained; soybeans closed about 0.2% higher at $9.8250 per bushel; wheat finished about 0.6% higher at $4.9925 per bushel, and corn finished the day about 0.6% lower at $3.4275 per bushel. U.S. stocks climbed on Wednesday ahead of the release of the Federal Reserve's monetary policy statement. The central bank is not expected to begin tightening policy until the middle of next year, but its statement was expected to shed light on the timing of how much longer rates will stay near zero. The Federal Open Market Committee could also change its description of the labor market to signal whether progress has been made towards its employment target. The Consumer Price Index declined 0.2 percent last month, while prices excluding food and energy costs held unchanged. Equities maintained their gains after a measure of confidence among home builders rose to its highest level since 2005. After rising 41 points to topple its prior-day record, the Dow Jones Industrial Average was lately up 3.26 points at 17,135.26. The S&P 500 shed a point to 1,998.01, with energy the biggest laggard and materials faring best of its 10 major industry groups. The Nasdaq held steady at 4,553.06. Gold is trading about 0.1% lower, crude oil is seen trading about 0.7% lower, and the U.S. dollar is seen trading marginally lower at about 1:00pm Chicago time. Tuesday, there were 188 contracts traded, down from 377 contracts traded on Monday. Open interest – the number of contracts outstanding – on Tuesday increased by 61 contracts to 9,001. Tags: chicago rough rice futures, U.S. rice prices, Rice futures
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Which Countries are Most Dependent on Rice Exports? Sep 17, 2014
Oryza.com -
Compared to other export commodities, rice like most other agricultural products has a relatively low value and is therefore not seen as very significant for generating national export revenues. However, since world rice exports are supplied by a relatively small number of countries, you might expect rice export revenue to make up a significant proportion of total national export revenues. Actually the relative importance of rice exports varies quite a lot across countries. Out of the big five (India, Thailand, Vietnam, Pakistan and USA), rice export revenue is the most important for Pakistan, earning the country just over 8% of its trade revenues in 2011. However, as one might expect, for a country like the USA whose exports tend to be more technically advanced products at the higher end of value
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added goods, rice exports represented just one tenth of the country’s export revenues. Total export revenues from rice for the other big three were 3.8% (Vietnam), 2.8% (Thailand) and 1.4% (India). In reality it’s not just about how much countries depend on rice export revenues, but who in the country depends on exporting rice. While rice exports represent a relatively small proportion of total trade earnings in most of the rice exporting countries, it tends to be some of the poorest groups (smallholder farmers) who rely on international rice markets. The statistics in the table below also show another interesting point, namely that rice export revenues are significant for a number of smaller exporting nations. Guyana tops the list with rice export revenues representing over 14% of the Guyana’s trade revenues, and 6% of Uruguay’s trade earnings. Suriname and Paraguay are two other South American rice exporters where rice exports represent over 1% of total export earnings. Adam John Tags: Export revenues, Rice exports, Adam John
Oryza Overnight Recap – Chicago Rough Rice Futures Continue to Pull Back as Buying Interest Disappears Sep 17, 2014
Chicago rough rice futures for Nov delivery are seen 7.5 cents per cwt (about $2 per ton) lower at $12.640 per cwt (about $279 per ton) during early floor trading in Chicago. The other grains are seen trading mixed this morning: soybeans are currently seen 0.1% higher, wheat is listed about 0.3% lower and corn is noted about 0.7% lower. U.S. stocks opened little changed on Wednesday, a day after the largest advance in almost a month, as Wall Street considers whether an unexpected drop in consumer prices gives the Federal Reserve wiggle room to hold off hiking interest rates for a longer period. The Consumer Price Index declined 0.2 percent last month, while prices excluding food and energy costs held unchanged. Investors will be looking for hints as to when the Fed intends to start hiking interest rates after years of record stimulus. While the central bank is not expected to begin tightening policy under the middle of next year, its statement scheduled for release at 2 p.m. Eastern could shed light on the timing of much longer rates
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will stay near zero. The Federal Open Market Committee could also change its description of the labor market to signal whether progress has been made towards its employment target. Fed Chair Janet Yellen holds a news conference 30 minutes after the Fed issues its statement. The Dow Jones Industrial Average opened down a few points. The S&P 500 gained a fraction and the Nasdaq dropped about 1 point. Gold is currently trading a touch higher, crude oil is seen trading about 0.3% lower, and the U.S. dollar is currently trading marginally lower at 8:45am Chicago time. Tags: U.S. rice prices, chicago rough rice futures, Rice futures
Philippines Domestic Rice Prices Increase Sharply This Year Sep 17, 2014
Average domestic rice prices in the Philippines increased sharply during the first eight-month period of 2014, according to data from the Philippines Bureau of Agricultural Statistics (BAS). Retail prices of both well-milled
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rice (WMR) and regular-milled rice (RMR) as well as wholesale prices of WMR reached their highest values since the beginning of this year. The average retail price of WMR in the Philippines increased to around P41.76 per kilogram in January August 2014, up about 17% from around P35.79 per kilogram during the same period in 2013, while the average wholesale price of WMR increased to around P39.27 per kilogram in January - August 2014, up about 17% from around P33.44 per kilogram during the same period in 2013. Average retail price of regular-milled rice RMR increased to about P38.53 per kilogram in January - August 2014, up about 18% from around P32.58 per kilogram during the same period in 2013. Average wholesale price of RMR increased to around P36.49 per kilogram in January - August 2014, up about 20% from around P30.45 per kilogram during the same period in 2013, the BAS says. In terms of USD per ton (using historical exchange rates), the average retail price of WMR stood at about $946 per ton in January - August 2014, up about 10% from the same period in 2013. Average wholesale price of WMR increased to about $890 per ton in January - August 2014, up about 11% from the same period in 2013. Average retail price of RMR increased to about $873 per ton in January - August 2014, up about 12% from the same period in 2013. Average wholesale price of RMR increased to about $827 per ton in January - August 2014, up about 13% from the same period in 2013. The Philippines has recently awarded contracts to Thailand and Vietnam to import 500,000 tons of rice between October and December this year to boost its stocks and curb price hikes. The government imported 800,000 tons of rice from Vietnam in March this year. The National Food Authority (NFA) has been authorized to import another 500,000 tons of rice if required. Tags: Philippines rice prices, Philippines Bureau of Statistics, Philippines rice imports
Settling Rice Debts Sooner will Reduce Public Debt Levels, Says BACC President Sep 17, 2014
The President of the Bank of Agriculture and Agricultural Cooperatives (BAAC) has criticized the military government's plan to spend around 131.3 billion baht (around $4 billion) yearly to clear of the debts associated
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with the controversial rice-pledging scheme introduced by the previous government, according to local sources.He told local sources that the government has earmarked a total of around 131.3 billion baht (around $4 billion), including around 71.3 billion baht (around $2.2 billion) in the 2015 budget and another 60 billion baht (around $1.86 billion) from selling stockpiles, to repay debts associated with the rice pledging scheme during the 2014-15 fiscal year (October September).He added that at this rate, the present government and the upcoming governments would need around seven fiscal years to clear off these debts and it is a pretty long time. The BACC President noted that currently the debts incurred by the previous governments for rice subsidy schemes stand at around 755 billion baht (around $23.4 billion), including around 705 billion baht (around $21.8 billion) incurred by the Yingluck Shinawatra's government and around 50 billion baht (around $1.5 billion) by the earlier governments. He noted that the military government planned to stretch payments for such long time instead of spending huge amounts in the short-term to ensure that the investment budgets are not affected. However settling the debts associated with the rice pledging scheme as soon as possible by spreading payments in the best manner would help bring down the public debt level, which is more in the interest of the economy. Tags: Thai rice pledging scheme, Thai rice debts, BACC, Thai military government
Thailand Rice Sellers Increase Some of Their Quotes; Vietnam Rice Sellers Lower Some of Their Quotes Today Sep 17, 2014
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Thailand rice sellers increased their quotes for 5% broken rice by about $5 per ton to around $430 - $440 per ton today. Vietnam rice sellers lowered their quotes for 100% broken rice and Jasmine rice by about $5 per ton each to around $335- $345 per ton and around $585 - $595 per ton respectively. Other Asia sellers kept their quotes mostly unchanged. 5% Broken Rice Thailand 5% rice is quoted at around $430 - $440 per ton, up about $5 per ton from yesterday and about $10 per ton discount to Vietnam 5% rice shown at around $440 - $450 per ton. India 5% rice is quoted at around $435 - $445 per ton, about $15 per ton premium on Pakistan 5% rice quoted at around $420 - $430 per ton. 25% Broken Rice Thailand 25% rice was last quoted at around $350 - $360 per ton, about $50 per ton discount to Vietnam 25% rice shown at around $400 - $410 per ton. India 25% rice is quoted at around $390 - $400 per ton, about $20 per ton premium on Pakistan 25% rice quoted at around $370 - $380 per ton. Parboiled Rice Thailand parboiled rice is quoted about $430 - $440 per ton. India parboiled rice is quoted at around $420 $430 per ton, about $20 per ton discount to Pakistan parboiled rice last quoted at around $440 - $450 per ton. 100% Broken Rice Thailand broken rice, A1 Super, was last quoted at around $310 - $320 per ton, about $25 per ton discount to Vietnam broken rice shown at around $335 - $345 per ton, down about $5 per ton from yesterday. India broken sortexed rice is quoted at around $330 - $340 per ton, about $5 per ton premium on Pakistan broken sortexed rice quoted at around $325 - $335 per ton. Tags: Vietnam rice prices, India rice prices, Thailand rice prices, pakistan rice prices
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Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section mujajhid.riceplus@gmail.com Cell # 92 321 369 2874