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TOP Contents - Tailored for YOU Latest News Headlines…
Blunting rice disease Corporation to build new rice mill at Pine Bluff Bühler introduces optical sorting solution for rice in Southeast Asia S. Korea may face rice oversupply in 2014 Thai military govt's $1.5 bln loan for rice payments secured Anti-corruption commission questions officials in rice corruption case Monsoon expected to arrive soon in Kerala, farmers begin to sow crops Agriculture sector grows by 2.1 percent Nagpur Foodgrain Prices Open- June 03 Nigeria: 'Rice Production - Nigeria Will Save U.S $2.5 Billion Yearly From Self-Sufficiency' State scales back rice sales GSB to lend B50bn to rice scheme BAAC nears rice payment target
News Detail… Blunting rice disease A fungus that kills an estimated 30 percent of the world's rice crop may finally have met its match, thanks to a research discovery made by scientists at the University of Delaware and the University of California at Davis.The research team, led by Harsh Bais, associate professor of plant and soil sciences in UD's College of Agriculture and Natural Resources, has identified a naturally occurring microbe living right in the soil around rice plants — Pseudomonas chlororaphis EA105 — that inhibits the devastating fungus known as rice blast. What's more, the beneficial soil microbe also induces a system-wide defense response in rice plants to battle the fungus. The research, which is funded by the National Science Foundation, is published in BMC Plant Biology and includes, along with Bais, authors Carla Spence, a doctoral student in the Department of Biological Sciences, Emily Alff, who recently earned her master's degree in plant and soil sciences, and Nicole Donofrio, associate professor of plant and soil sciences, all from UD; and Sundaresan Venkatesan, professor, Cameron Johnson, assistant scientist, and graduate student Cassandra Ramos, all from UC Davis."We truly are working to disarm a 'cereal killer' and to do so using a natural, organic control," says Bais, in his laboratory at the Delaware Biotechnology Institute. In addition to rice, a distinct population of the rice blast fungus also now threatens wheat production worldwide."Rice blast is a relentless killer, a force to be reckoned with, especially as rice is a staple in the daily diet of more than half the world's population — that's over 3 billion people," Bais notes.
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"As global population continues to grow, biocontrol bacteria may be an important key for farmers to overcome crop losses due to plant disease and to produce more food from the same acre of land."According to Bais, the rice blast fungus (Magnaporthe oryzae) attacks rice plants through spores resembling pressure plugs that penetrate the plant tissue. Once these spores infiltrate the cell wall, the fungus "eats the plant alive," as Bais says. Common symptoms of rice blast are telltale diamond shaped-lesions on the plant leaves.In order to do its work, the spore must produce a structure called the appressorium, a filament that adheres to the plant surface like an anchor. Without it, the fungus can't invade the plant.In a research study published in the journal Planta this past October, Bais and colleagues Spence, Donofrio and Vidhyavathi Raman showed that Pseudomonas chlororaphis EA105 strongly inhibited the formation of the appressorium and that priming rice plants with EA105 prior to infection by rice blast decreased lesion size. This image shows, from top, rice that is not infected with the rice blast fungus; rice infected with rice blast; and infected rice treated with the beneficial microbe Pseudomonas chlororaphis EA105.For her work, Spence, the lead author, recently received the Carson Best Paper Award for the best scientific paper published by a Ph.D. student in biological sciences at UD.The next step in the research was to sample the rhizosphere, the soil in the region around the roots of rice plants growing in the field, to reveal the microbial community living there and to attempt to elucidate their roles.Thanks to DNA sequencing techniques, Bais says that identifying the various microorganisms in soil is easy. But understanding the role of each of those microorganisms is a continuing story. A natural control for a deadly fungus."Everyone knows what's there, but we don't know what they are doing," Bais says of the microbes. To home in on the source of the antifungal impact, Bais and his colleagues are relying on what he refers to as "old school culturing" to find out if a single bacterium or a group of different bacteria are at work.In their study reported in BMC Plant Biology, the researchers used gene sequencing techniques to identify 11 naturally occurring bacteria isolated from rice plants grown in the field in California. These bacteria were then tested in the laboratory, with Pseudomonas chlororaphis EA105 demonstrating the strongest impact on rice blast. The soil microbe reduced the formation of the anchor-like appressoria by nearly 90 percent while also inhibiting fungal growth by 76 percent.Bais points out that although hydrogen cyanide is commonly produced by pseudomonad bacteria, the antifungal impact of Pseudomonas chlororaphis EA105 appears to be independent of cyanide production.Applying a natural soil microbe as an antifungal treatment versus chemical pesticides offers multiple benefits to farmers and the environment, Bais says."Rice blast quickly learns how to get around synthetics — most manmade pesticides are effective only for about three years," Bais says. "So it's really cool to find a biological that can attenuate this thing.
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"Bais, who also has conducted multiple studies with beneficial microbes in the Bacillus family, envisions a day when farmers will treat plants with a "magic cocktail of microbes" naturally found in soil to help boost their immunity and growth.This summer, he and his colleagues will conduct field trials using Pseudomonas chlororaphisEA105 on rice plants grown on the UD farm. He also will work with farmers in the central states in India. Source: University of Delaware (Photo Credit: University of Delaware)
Corporation to build new rice mill at Pine Bluff Posted: Jun 03, 2014 12:14 AM PSTUpdated: Jun 03, 2014 12:25 AM PST
PINE BLUFF, Ark. (AP) - Economic development officials say a new rice mill is headed to Pine Bluff.The state announced Monday that Southwind Milling Co. LLC will build a rice mill at the Port of Pine Bluff. The corporation is part of Optimum Group, which has been farming in Mississippi Delta states since 2010.Construction of the new mill is expected to begin immediately at the site in the Pine Bluff Port's Harbor Industrial District. Officials say the plant will be operational by February 2015 and will initially employ 25 people.Southmind Milling says it plans a future expansion at the port and will double the rice mill's capacity and build a rice flourmill. Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Bühler introduces optical sorting solution for rice in Southeast AsiaTuesday, 03 June 2014 10:05 In-built intelligence enables the sorter to make intuitive decisions about which grain is good and which grain should be rejected. (Image source: Bühler)Bühler has recently launched optical sorting solution SORTEX S UltraVision for rice processors in Southeast Asi Addressing changing and challenging market and consumer requirements, the optical sorting solution significantly increases rice processors‟ profitability, by allowing them to define the exact quality level for their rice in three steps, Bühler said.The SORTEX S UltraVision also tackles critical industry issues like contamination. Contamination levels in rice are rising and defects becoming more subtle and, therefore, more difficult to detect.
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Processors also face the pressure to meet demand for many different levels of rice quality, including export standard.Neil Dyer, global product manager for Buhler Sortex, said, “Existing optical sorting solutions restrict adjustment for defects without specific controls, so rice processors have been forced to compromise between meeting customer specifications or minimising reject — until now. The SORTEX S UltraVision revolutionises this.” Designed and built in the UK, the SORTEX S UltraVision is Bühler‟s highest ever capacity sorter for rice. It consists of up to six modules, a patented high capacity feed system and improved detection of defects. In-built intelligence enables the sorter to make intuitive decisions about which grain is good and which grain should be rejected, while its specific defect detection capability allows processors to adjust their sensitivity for each of multiple defects, individually. They can now define the exact „accept‟ levels necessary to meet their customers‟ requirements — thus eliminating waste and boosting profit, the company added. Ben Deefholts, Buhler Sortex Rice Specialist, said, “Until now, operators could not distinguish between different shades and have had to increase overall sensitivity in order to remove all subtle yellows, thereby also removing all subtle greys and ultimately reducing yield.”Bühler is reportedly the only company delivering a fully-automated sorter.“The all-new SORTEX S UltraVision forms part of Bühler‟s wider range of nextgeneration high capacity, energy efficient „UltraLine‟ rice processing equipment delivering outstanding productivity, coupled with lower running costs, to help rice processors improve the sustainability of their operations and maximise their revenue,” said Hamid Kefayati, MD of Buhler Sortex.
S. Korea may face rice oversupply in 2014 Globalpost/GlobalPost)
SEJONG, June 3 (Yonhap) -- South Korea may face a possible oversupply of rice this year due to an increase in imports and its own production amid a steady decline in the country's overall rice consumption, the government said Tuesday, with the local rice market opening having yet to be decided.The Ministry of Agriculture, Food and Rural Affairs has said the country's self-sufficiency rate for rice is expected to reach 92 percent this year, breaching the 90-percent mark for the first time in four years.However, the country's rice imports under a minimum market access (MMA) quota are also expected to grow to 409,000 tons, accounting for about 9 percent of South Korea's total estimated consumption.The country's rice import quota has been growing steadily since 1993 when the country was allowed to postpone opening its rice market under an agreement with the World Trade Organization (WTO).The agreement, extended by 10 years in 2004 in exchange for further increases in the MMA quota, expires at the end of this year. Ministry officials said the government has yet to make a final decision on whether to liberalize the country's rice market though many have noted the country may have no other option.The Philippines, the only other country
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in the world that has yet to liberalize its rice market, recently failed to negotiate another extension of its agreement with the WTO despite its offer to more than double its mandatory rice imports to over 800,000 tons.Kim Kyung-mee, head of the ministry's agricultural commerce division, has noted South Korea, Asia's fourth-largest economy, may be asked to give much more than what the Philippines had offered to win another delay of its market opening.Once increased, rice import quotas under the MMA remain fixed even after a country liberalizes its market, meaning South Korea already has to import over 400,000 tons of rice every year even if it decides to open its market immediately.
Such a large amount in imports may force the country to cut back on its own harvest as the country's rice consumption is declining steadily.The country's overall rice consumption is expected to reach 4.58 million tons this year with its per capita consumption expected to shrink 1.75 percent on-year to 67.3 kilograms, according to the ministry."If the country decides to seek another waiver for its market opening, which will result in a large increase in its import quota, the country will have no choice but to significantly reduce its own rice production to avoid an oversupply," a ministry official said, while speaking on condition of anonymity.The ministry has said it will make its final decision on the rice market opening before the end of June. The first public hearing on the issue is scheduled for next week. <All rights reserved by Yonhap News Agency>
Thai military govt's $1.5 bln loan for rice payments secured Tue Jun 3, 2014 7:29am GMT
BANGKOK, June 3 (Reuters) - Thailand's finance ministry has secured a loan for 50 billion ($1.5 billion) to make rice payments to farmers who have been waiting months for money owed under a controversial state rice-buying scheme, a senior ministry official said on Tuesday.The military government that seized power on May 22 has moved quickly to unblock the situation, with a state farm bank using its reserves to begin making payments.The ministry will open bidding for another 40 billion baht in loans on June 12, Chularat Suteethorn, head of the ministry's public debt management office, told reporters.
The Government Savings Bank won the bid to provide the first loan, which is for three years with an annual interest rate of 2.1792 percent, Chularat said, adding that compared with a 2.45 percent yield on three-year government bonds.The state bank will give 30 billion baht to the ministry on June 6 and the rest on June 13, she said after the auction, at which 12 banks had offered terms to lend a combined 145 billion baht.The borrowing will help cover total arrears of about 90 billion baht that had been owed to around 800,000 farmers.They were left unpaid for months because a caretaker government did not have the authority to get funds from the central state budget and banks proved unwilling to lend to it.
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After months of political turmoil, the military overthrew the government and its administration now has the power to secure funds. It has made paying the farmers one of its priorities.The Government Savings Bank suffered big withdrawals of cash in February when some depositors protested at its decision to lend 5 billion baht to a state farm bank so the government of Prime Minister Yingluck Shinawatra could pay some farmers.
Anti-corruption commission questions officials in rice corruption case Date : 3 มิถุนายน 2557 BANGKOK, 3 June 2014 (NNT) - Director-General of the Internal Trade Department Somchart Soithong on Tuesday traveled to the office of the National Anti-Corruption Commission (NACC) to testify in the rice subsidy corruption case following the findings that rice worth many billions of baht has disappeared from the government‟s warehouses. The NACC is looking into irregularities in the ousted government‟s rice subsidy scheme and will inspect assets and liabilities of the political-title holders involved in the program. Mr Somchart is one of the four witnesses including Permanent Secretary for Justice Rangsan Sriworasart, Inspector of the Ministry of Finance Kulit Sombatsiri and the manager of the Bank for Agriculture and Agricultural Cooperatives. The NACC will question the four of them until 6 June. Around 2.8 million tons of rice in the rice support program were found missing and a large quantity of rice was reportedly spoiled. Total damages were estimated at over 500 million baht.
Monsoon expected to arrive soon in Kerala, farmers begin to sow crops Madhvi Sally, ET Bureau Jun 3, 2014, 04.00AM IST
Tags:SeasonalAdjustment|networth|Monsoon|markets|marketing ix|Maize|Kerala|Insurability|Inflation|India Meteorological Department|IMD|Food inflation|farmers|Expense Loading|Cotton|Commission|Bay of Bengal
NEW DELHI: The southwest monsoon advanced further into parts of the southern Arabian Sea and the southwest Bay of Bengal. This movement is expected to accelerate the sowing of paddy, cotton, groundnut and soyabean across the country."Conditions are becoming favourable for the onset of the southwest monsoon over Kerala and its further advance into some more parts of south Arabian Sea, remaining parts of Maldives Comorin area, parts of Tamil Nadu, Bay of Bengaland northeastern states during next 4 days," the India Meteorological Department (IMD) said in a statement on Monday.
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IMD director general LS Rathore said: "The onset date of monsoon is more of an operational decision. The southwest monsoon is progressing and we will be able to take a call in the next two-three days."According to him, the strength of the westerlies over the Arabian Sea should pick up and rains should sustain across the next few days.As per IMD, if after May 10, 60% of the available 14 stations across Kerala, Karnataka, Sri Lanka and Lakshwdeep report rainfall of 2.5 mm or more for two consecutive days, the monsoon is declared to have set in.
The government is geared up to face any challenges if rains are weak, agriculture minister Radha Mohan Singh said. "Monsoon arrival will be clear in the coming days. Meanwhile, we have advised state governments on how to gear up with the situation. Government officials from the Centre have met state government officials of a few states and by June 15 this exercise will be completed," he said.Handling a possible below-normal monsoon will be a crucial task for the NDA government. In 2009, the UPA government that promised to bring down inflation, faced an uphill task because the drought triggered by the El Nino phenomenon raised food inflation to 20%.Prices then remained elevated for a long time, leading to high interest rates and widespread public anger. Earlier this month, IMD forecast that the monsoon onset over Kerala would be June 5 with a model error of plus or minus four days.The monsoon is critical for India's farmers who depend on them as the primary source of irrigation. Forecasts have warned of below-normal rainfall in the June-September reason, raising concerns about growth and prices.Meanwhile, farmers have started sowing crops such as cotton, groundnut, guar, jowar, pulses, soyabean andmaize in the irrigated belts of the country. Land preparation and nursery sowing of paddy, which is going to be the key kharif crop, has started in Kerala, Karnataka, Chhattisgarh, Odisha, Bihar and coastal west Bengal.The Central Water Commission, in its latest data on water availability across 85 important reservoirs in the country, said that the present storage position was better than last year and the average storage of the last 10 years. It stood at 74.80 billion cubic metres (bcm), 48% of the total live storage capacity of these reservoirs. In Punjab, where farmers have irrigation facilities, the transplantation of paddy from nursery to field will begin by June 10 according to Mangal Singh, director, Punjab agriculture department."Prevailing weather conditions till date have been helpful to farmers for sowing cotton, maize, pulses and nursery preparation for paddy. We are closely monitoring the weather situation and are geared to any adverse condition," said Singh.According to an official in the Haryana agriculture department, it was advising farmers to continue sowing of rice and maize utilising
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the expected rainfall in the coming days. Conducive conditions prevailed for the cottoncrop sown toward the beginning of April-May in Gujarat, Punjab, Haryana, Rajasthan and parts of Tamil Nadu. Farmers were being advised to undertake cotton sowing in Andhra Pradesh. With day temperatures prevailing at around 40-44°C, farmers in Gujarat were being advised to go for light irrigation for the groundnut crop in the pod development stage. "We just pray for good rains in the coming days," said Maganbhai Patel, a cotton and groundnut farmer in Gujarat who has 30 acres of land.
Agriculture sector grows by 2.1 percent Staff Report,June 03, 2014
ISLAMABAD: The agriculture sector witnessed a growth of 2.1 percent during the fiscal year 2013-14 due to positive growth in agriculture-related sub-sectors, revealed the Economic Survey of Pakistan. It shows that crops grew at 1.2 percent; livestock, 2.9 percent; forestry, 1.5 percent, and fishing, 1 percent. Agriculture‟s crop sub-sector, which includes important crops, grew by 3.7 percent while other crops and cotton ginning showed a negative growth of 3.5 percent and 1.3 percent, respectively. Important crops accounted for 25.6 percent of agricultural value added and experienced a growth of 3.7 percent in fiscal year 2013-14 against growth of 1.2 percent during the same period of last year. The important crops performed well on the back of positive growth in production of rice, maize, wheat and sugarcane, as all these crops witnessed increase in the production by 22.8 percent, 7.3 percent, 4.4 percent and 4.3 percent, respectively, while there was a 2 percent decline in production of cotton. The factors underpinning agriculture growth include better water availability, more fertiliser off-take and timely availability of agriculture credit, which paved the way for growth .Other crops that contribute 11.6 percent value addition in agriculture witnessed a decline of 3.5 percent during 2013-14 against positive growth of 6.1 percent during the same period last year that is due to decrease in production of pulses, vegetables and fruits. The cotton ginning witnessed a decline of 1.3 percent in its growth against the negative growth of 2.9 percent during the same period 2012-13. The livestock sector, which has a 55.9 percent share in the agriculture sector, exhibited a growth of 2.9 percent in 2013-14 based on Livestock Census 2006. The fishing sector grew by 1 percent, with a share of 2 percent in agriculture value addition as against last year‟s growth of 0.7 percent. The forestry sector posted a growth of 1.5 percent this year as compared to growth of 1 percent last year. Pakistan has two crop seasons, Kharif and Rabi. The former being the first sowing season runs from April-June, and has harvest during October-December. Rice, sugarcane, cotton, maize, moong, mash, bajra and jowar are Kharif crops. Meanwhile, Rabi, the second sowing season, runs between October-December and its crops are harvested in April-May.
Nagpur Foodgrain Prices Open- June 03 Tue Jun 3, 2014 2:55pm IST Nagpur, June 3 (Reuters) - Gram and tuar prices in Nagpur Agriculture Produce and Marketing Committee (APMC) reported down on poor buying support from local millers. Increased supply from producing regions, weak trend in on NCDEX and fresh fall in Madhya Pradesh pulses also pushed down prices, according to sources. * * * * FOODGRAINS & PULSES
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GRAM * Gram varieties reported down in open market on lack of buying support from local traders amid healthy supply from millers. TUAR * Tuar black suffered heavily in open market here on poor demand from local traders amid increased supply from producing belts. * Udid varieties zoomed up in open market on good demand from local traders amid thin supply from producing regions. Reports about weak production also activated stockists. * In Akola, Tuar - 4,100-4,300, Tuar dal - 6,300-6,500, Udid at 6,500-6,800, Udid Mogar (clean) - 7,600-8,100, Moong - 8,000-8,200, Moong Mogar (clean) 9,200-10,000, Gram - 2,400-2,600, Gram Super best bold - 3,300-3,600 for 100 kg. * Wheat, rice and other commodities remained steady in open market in thin trading activity, according to sources. Nagpur foodgrains APMC auction/open-market prices in rupees for 100 kg FOODGRAINS Available prices Previous close Gram Auction 2,290-2,550 2,320-2,610 Gram Pink Auction n.a. 2,100-2,600 Tuar Auction 3,800-4,100 3,800-4,200 Moong Auction n.a. 5,200-5,500 Udid Auction n.a. 4,300-4,500 Masoor Auction n.a. 2,600-2,800 Gram Super Best Bold 3,850-4,000 4,000-4,200 Gram Super Best n.a. Gram Medium Best 3,500-3,700 3,850-3,950 Gram Dal Medium n.a. n.a. Gram Mill Quality 3,300-3,400 3,500-3,600 Desi gram Raw 2,600-2,700 2,700-2,800 Gram Filter new 3,200-3,400 3,200-3,400 Gram Kabuli 8,500-10,500 8,500-10,500 Gram Pink 7,700-8,100 7,700-8,100 Tuar Fataka Best 6,400-6,600 6,400-6,600 Tuar Fataka Medium 6,200-6,300 6,200-6,300 Tuar Dal Best Phod 5,700-5,900 5,700-5,900 Tuar Dal Medium phod 5,300-5,600 5,300-5,600 Tuar Gavarani 4,300-4,400 4,300-4,400 Tuar Karnataka 4,200-4,300 4,200-4,300
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Tuar Black 7,600-7,900 7,800-8,000 Masoor dal best 6,200-6,400 6,200-6,400 Masoor dal medium 6,000-6,200 6,000-6,200 Masoor n.a. n.a. Moong Mogar bold 9,600-10,200 9,600-10,200 Moong Mogar Medium best 8,900-9,400 8,900-9,400 Moong dal super best 9,000-9,400 9,000-9,400 Moong dal Chilka 8,800-9,200 8,800-9,200 Moong Mill quality n.a. n.a. Moong Chamki best 8,000-9,100 8,000-9,100 Udid Mogar Super best (100 INR/KG) 8,200-8,500 8,000-8,200 Udid Mogar Medium (100 INR/KG) 6,800-7,600 6,600-7,400 Udid Dal Black (100 INR/KG) 5,700-6,000 5,500-5,800 Batri dal (100 INR/KG) 4,700-6,000 4,700-6,000 Lakhodi dal (100 INR/kg) 3,050-3,150 3,050-3,150 Watana Dal (100 INR/KG) 3,350-3,450 3,350-3,450 Watana White (100 INR/KG) 3,600-3,700 3,600-3,700 Watana Green Best (100 INR/KG) 4,900-5,400 4,900-5,400 Wheat 308 (100 INR/KG) 1,200-1,600 1,200-1,600 Wheat Mill quality(100 INR/KG) 1,300-1,600 1,300-1,600 Wheat Filter (100 INR/KG) 1,300-1,500 1,300-1,500 Wheat Lokwan best (100 INR/KG) 2,000-2,150 2,000-2,150 Wheat Lokwan medium (100 INR/KG) 1,700-1,800 1,700-1,800 Lokwan Hath Binar (100 INR/KG) n.a. n.a. MP Sharbati Best (100 INR/KG) 2,800-3,000 2,800-3,000 MP Sharbati Medium (100 INR/KG) 2,200-2,700 2,200-2,700 Wheat 147 (100 INR/KG) 1,100-1,400 1,100-1,400 Wheat Best (100 INR/KG) 1,700-2,000 1,700-2,000 Rice BPT (100 INR/KG) 3,600-4,000 3,600-4,000 Rice Parmal (100 INR/KG) 1,900-2,100 1,900-2,100 Rice Swarna old (100 INR/KG) 3,000-3,200 3,000-3,200 Rice HMT (100 INR/KG) 3,800-4,100 3,800-4,100 Rice HMT Shriram (100 INR/KG) 4,600-5,400 4,600-5,400 Rice Basmati best (100 INR/KG) 10,400-13,900 10,400-13,900 Rice Basmati Medium (100 INR/KG) 7,300-10,000 7,300-10,500 Rice Chinnor (100 INR/KG) 5,500-5,800 5,500-5,800 Jowar Gavarani (100 INR/KG) 1,300-1,500 1,300-1,500 Jowar CH-5 (100 INR/KG) 1,600-1,700 1,600-1,700
WEATHER (NAGPUR) Maximum temp. 44.6 degree Celsius (112.3 degree Fahrenheit), minimum temp.
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26.9 degree Celsius (80.4 degree Fahrenheit) Humidity: Highest - n.a., lowest - n.a. Rainfall : 0.0 mm FORECAST: Partly cloudy sky. Rains or thunder-showers likely towards evening or night. Maximum and Minimum temperature likely to be around 44 and 27 degree Celsius respectively. Note: n.a.--not available (For oils, transport costs are excluded from plant delivery prices, but included in market prices.)
Nigeria: 'Rice Production - Nigeria Will Save U.S $2.5 Billion Yearly From Self-Sufficiency' BY CHIBUZOR EMEJOR, 2 JUNE 2014 Abuja â&#x20AC;&#x201D; Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, on Monday expressed optimism that Nigeria would soon attain self-sufficiency in rice production, considering measures so far put in place to actualise the dream.Speaking at the International AgrikExpo in Lagos, the Minister said when this is achieved; Nigeria would be capable of saving about $2.5 billion yearly, which would then be put in the hands of the nation's rice farmers and rural communities. Already, he said, "against all odds, we are succeeding. Through massive free distribution of high yielding rice varieties, provision of fertilizers and mechanised services, supported by small scale irrigation, rice production has exploded in the country."Within two years, our national paddy rice production rose by 4.3 million metric tonnes. The number of integrated modern rice mills in the country rose from five to 15 within two years, all processing the local paddy into high quality finished rice."The expanded local rice production has added N320 billion to the economy, with over N170 billion as net incomes to farmers and rice processors, and boosted rural economy by 360,000 jobs."He maintained that a nation that cannot feed itself is at the mercy of other nations, subject to the volatility of global commodity markets. He also announced that investors are moving massively into local rice production and milling of rice, as part of concrete measures to achieving the nation's quest for self- sufficiency in rice production.Continuing, he said: "Olam has invested $70 million in a fully mechanised rice farm and will soon commission its 210,000 metric tonnes integrated rice mills, the largest in Africa.
State scales back rice sales Published: 3 Jun 2014 at 06.04 Newspaper section: Business Writer: Wichit Chantanusornsiri
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The Commerce Ministry is slowing its sales of stockpiled rice to ease pressure on market prices after the junta agreed to let the Bank for Agriculture and Agricultural Cooperatives (BAAC) use its own liquidity and issue bonds to settle overdue payments to rice farmers. Luck: Billions to rice farmers to date.The ministry will reduce its monthly repayments to the state-backed farm bank to 6 billion baht a month from 8-10 billion, said BAAC president Luck Wajananawat.With no fund-raising options available under the former caretaker government led by Yingluck Shinawatra, the Commerce Ministry's rice sales had appeared to be the only channel for steering funds to farmers.But the speedy stockpile release has taken a toll on the market price, as seen by the fact that paddy with moisture content of 25% is selling at just over 6,000 baht a kilogramme compared with 11,000 to 12,000 baht per kg under the rice-pledging scheme.The scheme was at the heart of the Pheu Thai Party platform that helped sweep Ms Yingluck to power in the 2011 general election.But it created hundreds of billions of baht worth of losses with a pledging price 40-50% above the market price, filling state warehouses with a massive surplus of unsold rice. The scheme began in October 2011 before being shelved for the 2014-15 second crop after Ms Yingluck dissolved the house last December.The Yingluck government was months behind schedule in paying 92 billion baht owed to about 800,000 farmers who pledged rice during the 2013-14 main crop.Mr Luck said the National Council for Peace and Order has yet to come up with a clear policy on rice subsidies.The BAAC has already paid 40 billion baht to 400,000 rice farmers and plans to offer an additional 15 billion baht from the bank's liquidity to make advance payments, he said.
GSB to lend B50bn to rice scheme Published: 3 Jun 2014 at 14.16 | Viewed: 2,250 | Comments: 1 Online news: Writer: Online Reporters
The Government Savings Bank won the auction to lend the government 50-billion-baht to help finance the ricepledging scheme on Tuesday. It offered to charge an interest rate of 2.1792%, a record low for government loan auctions and less than three-year government bonds.The first tranche of 30 billion baht will be drawn on June 6, and the rest on June 13.The Public Debt Office (PDO) called for bids from banks interested in lending to government for the scheme on Tuesday.Thanks to ample liquidity at present, 12 banks joined the bid, offering to lend 140 billion baht in total.The PDO plans to auction another 40 billion to repay the Bank for Agriculture and Agricultural Cooperatives (BAAC) on June 12.The BAAC, the executor of the rice-pledging scheme, paid 36 billion baht to 360,000 farmers over the past eight days.The PDO is confident it can mobilise funds so the farmers could get 92 billion baht of the amount owed to them by the government by the end of this month.
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BAAC nears rice payment target Farmers set to receive money by June 22 Published: 3 Jun 2014 at 06.04 | Viewed: 532 | Comments: 1 Newspaper section: News Writer: Post Reporters
The Bank of Agriculture and Agricultural Co-operatives (BAAC) expects to finish paying all 800,000 farmers for their rice pledged under the previous government's rice scheme by June 22. Most of the first 40 billion baht, approved by the National Council for Peace and Order (NCPO) to pay farmers whose rice-pledging payments have been delayed for months, has now been paid out, BAAC manager Lak Wajananawach said."About 35 billion baht was paid to farmers nationwide through the BAAC between May 26 and last Sunday," he said.Those who still have not received their payments should prepare all documents needed to prove their eligibility to receive the rice money while waiting for the last sum of 50 billion baht to be transferred to the BAAC from the Finance Ministry, he said."All rice farmers who are entitled to receive the rice-pledging money should get it by June 22," Mr Lak added. The first round of 40 billion baht came from loans the ministry sought from the BAAC while the rest is expected to come from loans sought from other financial institutions.Mr Lak said he could assure the farmers that the rice-pledging payments are being treated as the NCPO's top priority."Only one day after the NCPO seized power it invited me for discussions on how to help the farmers whose rice-pledging payments were delayed," said Mr Lak.And after he submitted a rice money payment plan to the NCPO through the Finance Ministry at 10pm on the same day, the NCPO approved it the following morning, he said.The BAAC manager also warned farmers they should be wary of anyone claiming they can accelerate the rice-money payments, especially people who ask for fees to speed up payments. Farmers don't have to pay anything in return for the BAAC processing the rice payments, he said.In Khon Kaen, Thanu Tosajja, a provincial BAAC branch manager, said about 511 million baht had been paid to the eligible rice farmers in his province over the past week.Only 317 million baht more in rice money payments remains to be paid out, he said.He said the BAAC head office in Bangkok promised to transfer to the BAAC branch in Khon Kaen the second round of money for farmers on Friday and again on June 12.In Kalasin, provincial governor Phuchong Phothikutsai, said a total of 25,943 out of 38,263 farmers had now received their rice money through 18 BAAC branches there.A total of 12,320 farmers were still waiting for the next round of payments to be disbursed, he said.A total of 1.7 billion baht was paid to the Khon Kaen farmers in the first round and 617 million baht more is needed for the second round of payments, said the governor.
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