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TOP Contents - Tailored for YOU Latest News Headlines…
Gov’t to import 200,000 tons of rice NFA assures rice supply in MP PH ups rice import volume to 805K MT Philippines Increases Vietnam Rice Imports to Curb Record Prices Solid financial result for SunRice Government pushes domestic rice exports Nagpur Foodgrain Prices Open- June 27 TABLE-India Grain Prices-Delhi- June 27 TABLE-Weekly update on India's summer crop planting Rice sowing declines by 38% to 21.91 lakh hectares so far Louisiana crawfish tradition becomes global phenomenon
News Detail… Gov’t to import 200,000 tons of rice By KIMBERLY JANE TAN, GMA NewsJune 26, 2014 7:03pm
The government will be importing an additional 200,000 metric tons of rice in order to boost the present buffer stock amid a sudden surge in the price of the commodity.Secretary Francis Pangilinan, the Presidential Assistant for Food Security and Agricultural Modernization, said the decision was reached during President Benigno Aquino III meeting with officials on Thursday.He said the rice would be imported from Vietnam.Pangilinan said the National Food Authority (NFA) and Department of Finance would also work on the acquisition of 20,000 MT of seized or smuggled rice. He added the NFA would also deputize the Philippine National Police Criminal Investigation and Detention Group (CIDG) to monitor and inspect rice warehouses for possible hoarding or diversion of NFA rice.On the other hand, Pangilinan said his office, the NFA, and Department of Justice would coordinate to investigate and prosecute traders that hoard rice.He said the government would continue doubling the release of P32- and P27per-kilo NFA rice to markets until September. —NB, GMA News
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NFA assures rice supply in MP BY: ANDREW DPGA-ONG Friday 27th of June 2014 NFA assures rice supply in Mountain Province BONTOC, Mountain Province, June 27(PIA) - - The provincial office of the National Food Authority (NFA) here assured a sufficient rice supply for the province during these lean months. NFA provincial head Miguel Tecson gave the assurance amid speculation of tightening rice supply and the spike in rice prices in some places in the country. Tecson said supply of the basic staple in the province is stable stressing that the 15,000 bags capacity warehouse of the province is maintaining sufficient stocks. He added that buffer stocks for Mountain Province are also stored in a temporary depo in Nueva Vizcaya which can be transported to the province to replenish disposed stocks. As to the price movement, Tecson said only the prices of commercial rice went up by P1.00 per kilo. He said price of NFA rice remained the same and sold at the NFA accredited retail outlets at P27.00 for the regular milled rice and P32.00 for the well-milled rice per kilo exclusive of a reasonable freight for outlets located in far-flung barangays. Tecson said some 273 NFA accredited rice outlets are scattered in the ten towns of the province to sell and ensure the availability and accessibility of the affordable government rice to the end consumers particularly to the marginalized sectors.Mountain Provnce, a highly rice deficit area depends on the NFA about 18 percent of its rice supply. NFA is releasing an average of 7,500 bags of rice per month here.(JDP/ ABD- PIA CAR, Mountain Province)
PH ups rice import volume to 805K MT 27.06.2014
The Philippines has more than doubled its minimum rice import volume to 805,000 tons yearly from 350,000 tons, according to country’s chief negotiator on the trade of the staple grain.Romeo Recide, who was most recently the director of the Bureau of Agricultural Statistics, said Thursday that of the new minimum access volume, 755,000 tons will be allocated as country-specific quotas while the remaining 55,000 tons may come from any trading partner.Recide said suppliers from Vietnam and Thailand would get the bulk of the new country quotas.Previously, country allocations totaled 163,000 tons while 187,000 tons accounted for the socalled omnibus import volume.
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Last Monday, Agriculture Secretary Proceso J. Alcala said the Philippines has practically secured an extension of the quantitative restrictions or barriers on rice imports until 2017 as all countries with interest in accessing the local market have assented.Alcala said the World Trade Organization’s Council for Trade in Goods will endorse such extension for approval when the WTO general council convenes on July 24-25.The agriculture chief said that this next step was “merely formality” and that the Philippines can now continue observing the controlled entry of imported rice into the domestic market. Quantitative restrictions on Philippine rice imports are supposed to have expired in 2012 amid international efforts to break down barriers to free trade.However, the Philippines was able to engage its trading partners in talks for an extension of another five years to buy time for the domestic industry to be more competitive and for the country to achieve self-sufficiency in rice production.In 2013, China, India and Indonesia approved the continuing implementation of the quotas. Talks held over the past several months involved negotiations with Australia, Canada, the United States and Thailand.
Philippines Increases Vietnam Rice Imports to Curb Record Prices By Cecilia Yap and Joel Guinto Jun 27, 2014 1:51 PM GMT+0500 The Philippines will boost rice imports from Vietnam to a total of 1 million metric tons this year as Asia’s second-biggest buyer battles retail prices that have surged to a record.State agency National Food Authority will continue to supply increased amount of subsidized rice to the market from its reserves until September, Francis Pangilinan, secretary for food security, said in a statement today. The NFA will order 200,000 tons from Vietnam, the world’s third-largest exporter, in addition to the 800,000ton contract in April, scheduled for delivery from May to August, he said.The country plans to ease import curbs as it fights rising prices and to limit the NFA’s losses, Economic Planning Secretary Arsenio Balisacan said this week. President Benigno Aquino is seeking to curb inflation running at the fastest pace since November 2011, boosted by the higher cost of rice, a staple in the country. The Philippines will import 1.8 million tons in 2014-2015, down from 2 million tons in 2013-2014, according to the U.S. Department of Agriculture.Retail prices of the well-milled variety rose 20 percent from a year earlier to 42.67 pesos ($0.97) a kilogram in the second week of June, according to the Bureau of Agricultural Statistics. The Thai 5-percent broken white rice, an Asian benchmark, dropped 22 percent in the past year to $408 a ton on June 25, Thai Rice Exporters Association data show. Vietnam is set to be the biggest shipper in 2013-2014 after India and Thailand, according to the USDA.The Southeast Asian nation increased the quota for lower-duty imports to 805,000 tons this year from 350,000 tons in 2013, Romeo Recide, the country’s lead negotiator at the World Trade Organization, said June 26. The WTO’s committee on trade in goods also granted the country’s petition to extend the quantitative restrictions on rice imports until 2017.
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To contact the reporters on this story: Cecilia Yap in Manila at cyap19@bloomberg.net; Joel Guinto in Manila at jguinto1@bloomberg.net To contact the editors responsible for this story: Jake Lloyd-Smith at jlloydsmith@bloomberg.netOvais Subhani
Solid financial result for SunRice June 27, 2014, 11:45 a.m.
SunRice announced its financial results for the 12 months ended 30 April 2014 (FY 14), delivering another year of strong profit and increased revenue.SunRice reported consolidated revenue for the Group of $1.151 billion, up 7.7% compared with the same period last year. Net profit after tax was $33.5 million, 6.4% lower than the 12 months to 30 April 2013. The company improved Return on Funds Employed (ROFE) for a fifth consecutive year, with ROFE for FY 14 of 14.1%, up 0.5% on the previous year. SunRice also announced a final Crop Year 13 (C13) paddy price of $293.61 per tonne for medium grain (Reiziq) and $403.61 per tonne for Koshihikari; while announcing a fully franked dividend of 23.0 cents per share for B Class shareholders, equalling the record amount for the company set last year.SunRice chief executive officer Rob Gordon said the full year financial performance was a pleasing result overall, particularly given the challenging operating conditions faced by the business over the past year.“During 2013/14, the group faced a number of significant headwinds, including volatile foreign exchange movements that affected our import businesses as well as challenges with the C13 crop, both of which impacted our financial performance. “Despite these factors, SunRice continued to build on its strengths as a global food group, delivering on our strategy to increase share across domestic and international consumer markets; investing in product and brand innovation to attract new customers; and re-investing in capital to drive improved productivity and efficiency and reduce costs,” said Mr Gordon.SunRice chairman, Gerry Lawson AM said SunRice’s Australian Rice Milling and Marketing business continued to perform strongly in FY 14 to provide solid returns for growers who delivered a third successive large crop since returning from drought.“Growers responded positively to our
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calls for a larger crop and an increase in specialty varieties to meet changing market demand, delivering 1.16 million tonnes in C13, including an increase in Sushi varieties Koshihikari and Opus. Photo:: SunRice chief executive officer Rob Gordon.
Government pushes domestic rice exports HA NOI (VNS) — Ministries and related sectors should closely follow the development of rice markets at home and abroad and expand trade promotion activities for increasing Vietnamese rice exports, said a senior Government official.Deputy Prime Minister Hoang Trung Hai said that the Government Notice 239/TB-VPCP, issued on June 23, focuses on the rice export situation in the past and on solutions for increasing rice exports in the future.According to Hai's directions, the Ministry of Industry and Trade (MoIT) would identify traditional rice export markets as the leading targets of export promotions and continue management of rice exports to markets having Government contracts, under the Prime Minister's directions in the official letter 1375/VPCP-KTTH, issued on March 4, 2014. Hai said MoIT, the Ministry of Agriculture and Rural Development (MARD) and the Viet Nam Food Association (VFA) will jointly follow the development of the world rice market and ensure balance between the domestic market's supply and demand for commercial rice and the real rice export situation in the world market. This would help the ministries and the related sectors to have effective solutions for increasing rice exports.The MoIT and VFA would report to the Prime Minister the rice export situation of Government contracts to have reasonable management of exports to the markets coming under these contracts, Hai said.The ministry, VFA and related sectors would enhance trade promotion activities for rice product exports to traditional and new markets, implement efficiently the memorandum of understanding (MOU) on commercial activities for rice and other farming products and promote the signing of MOUs on trading activities with countries which import large quantities of rice.The trade offices of Viet Nam abroad would support enterprises in rice export promotion activities, Hai said. Meanwhile, the MoIT would give priority to capital for rice export promotion activities under the national commercial promotion programme. MARD, MoIT and VFA will build Viet Nam's plan on developing trademarks for rice exports and have policies encouraging trademarks for rice product exports.The VFA must suitably adjust the floor price of rice exports as per the supply and demand in the domestic market and forecast rice exports to avoid any disadvantages for Vietnamese products, Hai said.According to the association, Viet Nam exported 351,650 tonnes of rice in the first 19 days of June, bringing the total volume of rice exports since early this year to 2.68 million tonnes, earning US$1.16 billion.In the first 19 days of June, Asia continued to be the largest export market for Vietnamese rice with an export volume of 267,500 tonnes, accounting for 76 per cent of the total volume,
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followed by America with 61,318 tonnes.Early this year, the association planned to export 6.5 million tonnes of rice in 2014 due to the high competitiveness in the world market.Last year, Viet Nam exported 6.7 million tonnes of rice, 11 per cent lower than the initial export target, as the sector faced many difficulties. — VNS Image: Viet Nam exported 351,650 tonnes of rice in the first 19 days of June, bringing the total volume of rice exports since early this year to 2.68 million tonnes, earning US$1.16 billion.— Photobaohaiquan
Nagpur Foodgrain Prices Open- June 27 Fri Jun 27, 2014 3:23pm IST Nagpur, June 27 (Reuters) - Gram prices in Nagpur Agriculture Produce and Marketing Committee (APMC) reported higher on increased buying support from local millers amid thin supply from producing regions. Fresh rise in Madhya Pradesh gram prices, delay in this season's arrival because of monsoon delay and reported demand from South-based millers also pushed up prices, according to sources.
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FOODGRAINS & PULSES GRAM * Gram mill quality and desi gram raw jacked up in open market here on good buying support from local traders amid weak supply from producing regions.
TUAR * Tuar varieties ruled steady in open market here on subdued demand amid ample stock in ready segment.
* Wheat mill quality showed firm tendency in open market on increased marriage season demand from local traders.
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* In Akola, Tuar - 3,800-4,100, Tuar dal - 5,700-6,000, Udid at 6,500-6,800, Udid Mogar (clean) - 7,600-8,100, Moong - 7,200-7,600, Moong Mogar (clean) 8,600-9,300, Gram - 2,000-2,200, Gram Super best bold - 3,000-3,300 for 100 kg.
* Other varieties of wheat, rice and other commodities remained steady in open market in thin trading activity, according to sources.
Nagpur foodgrains APMC auction/open-market prices in rupees for 100 kg
FOODGRAINS
Available prices
Gram Auction
2,140-2,500
Gram Pink Auction Tuar Auction
n.a. n.a.
Moong Auction
2,060-2,500 2,100-2,600 3,600-4,350
n.a.
Udid Auction
n.a.
Masoor Auction
4,200-4,500 4,300-4,500
n.a.
Gram Super Best Bold Gram Super Best Gram Medium Best
Previous close
2,600-2,800 3,600-3,700
3,600-3,700
n.a. 3,200-3,400
3,200-3,400
Gram Dal Medium
n.a.
n.a.
Gram Mill Quality
2,900-3,000
2,850-2,950
Desi gram Raw
2,400-2,850
2,300-2,800
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Gram Filter new
3,000-3,200
Gram Kabuli
3,000-3,200
8,000-9,500
Gram Pink
8,000-9,500
7,300-7,500
Tuar Fataka Best
7,300-7,500
6,300-6,600
Tuar Fataka Medium
6,300-6,600
6,100-6,300
Tuar Dal Best Phod
6,100-6,300
5,600-5,850
Tuar Dal Medium phod
5,600-5,850
5,300-5,600
5,300-5,600
Tuar Gavarani
4,300-4,400
4,300-4,400
Tuar Karnataka
4,100-4,200
4,100-4,200
Tuar Black
7,500-7,800
Masoor dal best
7,500-7,800
6,000-6,200
Masoor dal medium Masoor
5,800-6,000
n.a.
5,800-6,000
n.a.
Moong Mogar bold
8,500-9,300
Moong Mogar Medium best Moong dal super best Moong dal Chilka
6,000-6,200
8,500-9,300
8,000-8,200
7,600-8,000
7,600-8,000
7,700-8,300
7,700-8,300
Moong Mill quality
n.a.
Moong Chamki best
7,800-9,000
n.a.
Udid Mogar Super best (100 INR/KG) Udid Mogar Medium (100 INR/KG) Udid Dal Black (100 INR/KG) Batri dal (100 INR/KG) Lakhodi dal (100 INR/kg)
8,000-8,200
7,800-9,000 8,200-8,500
6,800-7,600
5,700-6,000
3,800-4,800 2,800-2,900
8,200-8,500 6,800-7,600
5,700-6,000
3,800-4,800 2,800-2,900
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Watana Dal (100 INR/KG)
2,900-3,200
Watana White (100 INR/KG)
3,700-3,800
Watana Green Best (100 INR/KG) Wheat 308 (100 INR/KG)
2,900-3,200
5,100-5,700
1,200-1,500
Wheat Mill quality(100 INR/KG) Wheat Filter (100 INR/KG)
3,700-3,800 5,100-5,700
1,200-1,500
1,550-1,800
1,500-1,750
1,200-1,400
Wheat Lokwan best (100 INR/KG)
1,200-1,400
1,900-2,200
Wheat Lokwan medium (100 INR/KG) Lokwan Hath Binar (100 INR/KG)
1,900-2,200
1,600-1,800
n.a.
n.a.
MP Sharbati Best (100 INR/KG) 2,500-3,200 MP Sharbati Medium (100 INR/KG)
1,600-1,800
2,500-3,200
2,000-2,400
2,000-2,400
Wheat 147 (100 INR/KG)
1,100-1,300
1,100-1,300
Wheat Best (100 INR/KG)
1,500-1,800
1,500-1,800
Rice BPT (100 INR/KG) Rice Parmal (100 INR/KG)
2,900-3,200 1,600-1,800
2,900-3,200 1,600-1,800
Rice Swarna old (100 INR/KG)
2,700-2,900
2,600-2,800
Rice HMT (100 INR/KG)
3,800-4,200
3,800-4,200
Rice HMT Shriram (100 INR/KG)
4,400-5,200
4,400-5,200
Rice Basmati best (100 INR/KG) 10,400-13,900 Rice Basmati Medium (100 INR/KG) Rice Chinnor (100 INR/KG) Jowar Gavarani (100 INR/KG) Jowar CH-5 (100 INR/KG)
10,400-13,900
7,300-10,000
4,900-5,500 1,300-1,500 1,600-1,700
7,300-10,000
4,800-5,400 1,300-1,500 1,600-1,700
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WEATHER (NAGPUR) Maximum temp. 39.9 degree Celsius (102.0 degree Fahrenheit), minimum temp. 25.9 degree Celsius (78.6 degree Fahrenheit) Humidity: Highest - n.a., lowest - n.a. Rainfall : 0.5 mm FORECAST: Generally cloudy sky. Rains or thunder-showers likely towards evening or night.Maximum and Minimum temperature likely to be around 37 and 26 degree Celsius respectively. Note: n.a.--not available (For oils, transport costs are excluded from plant delivery prices, but included in market prices.)
TABLE-India Grain Prices-Delhi- June 27 Fri Jun 27, 2014 3:27pm IST TABLE-India Grain Prices - Delhi - Jun 27 Rates by Asian News International, New Delhi Tel: 011 2619 1464 Indicative Grains
Previous
opening
close
(in rupees per 100 kg unless stated) ---------------------------------------------------------Wheat Desi
2,200-3,000
2,200-3,000.
Wheat Dara
1,600-1,800
1,600-1,800
#N/A Roller Mill (per bag) Maida (per bag)
1,625-1,700 1,750-1,850
1,625-1,700. 1,700-1,800.
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Sooji (per bag)
1,900-2,200
1,900-2,200.
Rice Basmati(Sri Lal Mahal) 13,000-14,000 13,000-14,000. Rice Basmati(Lal Quila)
13,000-15,000 13,000-15,000.
Rice Basmati(Common) Rice Permal Rice Sela I.R.-8 Gram
8,500-9,200
1,600-2,200 2,050-2,450 1,800-2,000 2,850-3,100
8,500-9,200.
1,700-2,300. 2,050-2,450. 1,850-2,050. 2,700-3,000.
Peas Green
2,700-3,000
3,750-3,050.
Peas White
2,850-3,050
2,850-3,050.
Bajra Jowar white
1,600-1,700 1,600-1,700
1,600-1,700. 1,600-1,700.
Maize
1,600-1,700
1,600-1,700.
Barley
1,500-1,800
1,500-1,800.
#N/A Source: Delhi grain market traders.
TABLE-Weekly update on India's summer crop planting Fri Jun 20, 2014 6:50pm IST June 20 (Reuters) - The onset of Indian monsoon has triggered sowing of a host of summer crops such as rice and cotton, although at a slower pace than last year due to a delayed start, government data showed on Friday. Weather officials have forecast the monsoon to gain strength over rice-growing areas in the eastern region and soybean-growing areas of central India next week. Table below gives the area under sowing of major crops for the week ended June 19 against the year-ago period, in million hectares. All figures are provisional and are subject to revision as updates arrive with the progress of the monsoon rains. -------------------------------------
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CROP
2014
2013
------------------------------------Rice Oilseeds
0.759
1.289
0.123
0.154
Cane
4.392
4.520
Cotton
2.000
2.813
------------------------------------Source: Farm Ministry (Reporting by Ratnajyoti Dutta in NEW DELHI; editing by Malini Menon)
Rice sowing declines by 38% to 21.91 lakh hectares so far Last Updated: Friday, June 27, 2014, 20:03 New Delhi: Paddy acreage has declined by 38 percent to 21.91 lakh hectares this year so far as area under the main kharif (summer) crop has come down sharply in Punjab and Chhasttisgarh.Sowing of kharif crops begins with the onset of southwest monsoon in June, while the harvesting starts from October.Last season at this time, area under paddy was 35.44 lakh hectares.Maximum decline in area under paddy is witnessed in Punjab, where as on date the main kharif crop has been planted in 9.15 lakh hectares as compared to 14.30 lakh hectares last season.It is followed by Chattisgarh, where acreage under paddy has come down to 0.41 lakh hectares from 5.30 lakh hectares last season. Besides Mizoram where there was marginal increase in the area under paddy, all other states have reported decrease in the paddy acreage this season so far.The overall area under kharif crops has decreased by 53 percent to 131.52 lakh hectares from 200.96 lakh hectares.Area under oilseeds has also fallen to 4.79 lakh hectares from
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9.01 lakh hectares last season, similarly pulses acreage has declined to 4.30 lakh hectares from 13.62 lakh hectares. The planting of commercial crops is also in progress. So far Sugarcane has been planted in 43.92 lakh hectares marginally lesser than 45.20 lakh hectares last season whereas area under cotton has come down sharply to 29.07 lakh hectares from 55.77 lakh hectares. According to the Indian Meteorological Department (IMD), the country has received 43.4 mm of rainfall as compared to normal rain of 78.8 mm from June 1 to June 17.However, the condition is expected to improve in July and August.Amid chances of subnormal monsoon this year, as projected by the IMD, the ministry has advised state governments to be ready with contingency plans to minimise impact of erratic rains.It is also working on certain relief measures such as providing subsidy to buy seeds for resowing and on diesel for irrigation to protect the standing crops.
Louisiana crawfish tradition becomes global phenomenon In New Orleans, nearly 10,000 people showed up to turn a genuine south Louisiana ritual into a new world record. Twenty-seven thousand pounds of crustaceans went into making the world's largest crawfish boil, Jamie Wax reports.But what used to be a local Louisiana ritual is now spreading to backyards nationally, as the crawfish business is now a half a billion dollar-a-year industry.The trend has kept Mike Morse busier than ever. He runs Zatarain's, the world's leading maker of the spices used in boiling crawfish. "It goes all over the U.S. and to extent all over the world, and a lot of that has become post-Katrina; a lot of folks have been displaced," Morse told CBS News.Crawfish used to be caught mostly in the wild, but the increasing demand has rice growers transforming their fields into fish farms.Burt Tietje is one of 1,200 rice farmers who collectively harvest about 100 million pounds of crawfish a year."We don't feed them, we don't fertilize them, we don't do insecticides, we don't do anything," Tietje said. "It's just water and land and we have crawfish."Another factor is the growing threat to his business from abroad. Last year China exported 18 million pounds of crawfish to the U.S."I'm not a big fan of Chinese crawfish," Tietje told CBS News. "I just don't think they can deliver that live fresh product like we can deliver from Louisiana"For now, Louisiana has the upper hand and Mike Strain, the states' commissioner of agriculture, wants to make sure it stays that way."We export now more than half of our crawfish," Strain said. "What I tell everybody is when the season starts eat them quick before they ship them out of state!"
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