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TOP Contents - Tailored for YOU Latest News Headlines…
Water-saving technology can mitigate effects of El Niño on rice farming Sake boom revives vintage rice strains Drought Reduces Rice Crops, Raises Prices Nagpur Foodgrain Prices - APMC & Open Market-May 5 PHL Asia’s fastest rice producer–DA California Rice Commission Brings Water Issues into Focus Crop Progress: 2014 Crop 57 Percent Planted CME Group/Closing Rough Rice Futures Call to reopen rice cargo return case Formalise trade in rice seeds between India & Bangladesh: Study Farmers despair of ever being paid for rice BAAC to seek B186bn budget for populist policy repayment Rice may be range-bound over the next few days NACC 'won't rush' rice scheme probe
News Detail… Water-saving technology can mitigate effects of El Niño on rice farming May 3, 2014 4:54am
With an El Niño episode and its effect of low rainfall expected to begin by June or July, rice farmers may find themselves struggling to plant and harvest crops given that rice is cultivated in continuously flooded fields. The effects of El Niño can be devastating. According to Department of Agriculture figures, the 1998 El Niño affected almost 74,000 hectares of agricultural lands in 18 provinces. The country’s rice and corn production during the first half of 1998 went down by 27% and 44%, respectively.Fortunately, the International Rice Research Institute has a simple technique, labeled Alternate Wetting and Drying, which can mitigate the effects of the El Niño .
The concept is straightforward. A farmer can opt to dry out his field occasionally, as long as the water content in the soil is still enough for the rice crops alive.All he needs is a plastic or bamboo pipe 40 cms. in length and 15 cms. in diameter with drilled
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holes. This will serve as a measuring tool of the water content in a farmer's field.The farmer sinks the pipe into his unflooded rice field until only half protrudes above the soil. When the water level inside the pipe drops to 15 cms. below ground level, this means the field is ready to be re-flooded.By means of this cycle of alternate low-level flooding and drying out the field, water requirements can be reduced by up to 30 percent, with no yield reduction, according to an IRRI fact sheet published in February 2013.As of February last year, more than 100,000 farmers in the Philippines have adopted AWD, which has also reduced conflicts over water in shared canal irrigation systems. — Kim Luces/DVM, GMA News
Published: May 4, 2014 3:00 a.m.
Sake boom revives vintage rice strains Aya Takada | Bloomberg News
TOKYO – Farmers on Japan’s west coast will sow Nihonbare rice this year for the first time in a decade as growers around the country return to older varieties to meet demand for record sake exports.Overseas shipments of the traditional rice-based alcohol reached an all-time high of 8.5 billion yen ($80 million) in the 10 months through October as they headed for a fourth annual gain, the latest data from the Agriculture Ministry show. Farmers from Echizen in the west will produce 1,080 metric tons in 2014, the JA-Echizen Takefu agricultural cooperative said.Suppliers to brewers are increasing acreage as Prime Minister Shinzo Abe targets a fivefold increase in exports of sake, rice crackers and other products made from the grain to 60 billion yen by 2020. That’s a boon for brewers including Takara Holdings Inc. and an opportunity for some farmers to switch from food rice as consumption falls in Japan amid more varied diets. ―Sake producers have become ever more aware of the importance of rice quality,‖ said Shunsuke Kohiyama, an export adviser at the Japan Sake and Shochu Makers Association. ―They approach this like wineries in France getting the best grapes.‖Nihonbare was the most popular rice for eating in Japan until the 1970s, when it was overtaken by the sweeter and stickier Koshihikari grain. Brewers still favor the strain for its low protein count to produce dry-tasting sake.―It’s high-yielding and will help boost incomes,‖ said Sadahiko Yasui, assistant director at the cooperative. ―Nihonbare also shows resistance to high temperatures and typhoons, and is relatively easy to cultivate.‖In Abe’s home prefecture of
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Yamaguchi, Asahishuzo Co. is increasing production of top-grade daiginjo sake using Yamadanishiki rice, another vintage strain, said Kazuhiro Sakurai, the brewer’s executive vice president. Asahishuzo prizes Yamadanishiki for its large grain and condensed starch core and used 2,400 tons last year to brew ―aromatic and clean‖ sake, according to Sakurai.Abe offered the closely held company’s Dassai-labelled sake to French President Francois Hollande when he visited Tokyo in June and to Russia’s Vladimir Putin on his 61st birthday.Output of Yamadanishiki in Hyogo prefecture, where the variety was developed 90 years ago, increased to 15,796 tons in 2012 from 15,227 tons in 2011, according to the local government.Sake exports to the U.S. reached 3.2 billion yen, or 38 percent of the total shipments of the alcohol, in the 10 months through October, data from the Agriculture Ministry show. Sales to the American market for all of 2012 were 3.25 billion yen.―Sales overseas are increasing with the popularity of Japanese food,‖ said Tomoko Sakaguchi, a spokeswoman for the sake unit of Takara Holdings.Takara is the biggest seller of sake in overseas markets, where it shipped about 7.3 million liters (1.9 million gallons) from its breweries at home and abroad in 2012, Sakaguchi said.
Image: Exports of sake from Japan have grown, causing rice farmer to grow vintage grains.
Drought Reduces Rice Crops, Raises Prices Friday, May 2, 2014
Amy Quinton, Capital Public Radio
California’s drought is expected to have a dramatic effect on rice production. The state supplies virtually all of the nation’s sushi rice and half of it is exported. Economists say of all the food crops in California, rice is likely to be affected by the drought the most, and the mere speculation of losses is already driving up prices.California's drought may drive up the price of rice and affect the state's export of the grain.At Montna Farms near Yuba City, huge drag scrapers level a rice field in preparation for planting. The rice grown in the Sacramento Valley is primarily medium grain rice. Nicole Van Vleck with Montna Farms says the high gluten sticky rice is perfect for sushi.If you’re eating sushi rice in New York, or in Florida or San Francisco you’re most likely undoubtedly going to be eating California rice, which we refer to as Calrose," she said.Van Vleck stands next to a water pump that’s flooding the field behind her.―So this is water that’s coming from the Feather River and the Feather is just to the east of us, we divert out of the Feather," she said.Northern California farmers typically have plenty of water compared to those in the southern California, even during dry years.
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They often profit by selling water to the south. But Dan Sumner, an agriculture economist at UC Davis says not this year."This is the first time I know of that we cut back rice acreage because surface water allocations were cut so severely to water districts north of Sacramento," he said.Montna Farms gets water for its 5,000 acres from several different water districts, but Van Vleck says the change will mean a huge decrease in plantings. ―I’ve been here at Montna Farms for 20 years and it’s unlike anything I’ve ever had to deal with, the uncertainty this year, since the beginning of year, day to day things change, right now we’re looking, we are down 48 percent the mere speculation of losses is already driving up prices over last year," he said.That figure is with the recent increase in allocations made possible by spring rains. The California Rice Commission estimates that rice farmers will leave 100,000 acres, or about 20 percent, of their fields fallow. Van Vleck says medium-grain rice from California is a very thinly traded commodity worldwide.―If you have California being reduced and California does export about half of their crop and so if California is affected because of the drought it all of a sudden changes the price of medium grain substantially," he said. Dan Sumner says it’s already happened.Farmers were getting between $15 and $20 for a sack of rice, 100 pound sack of rice, it’s now up in the range of $25 or $30 or more," he said.At Oto’s Marketplace in Sacramento the price shot up at the beginning of the year. Russell Oto is the General Manager of the store which specializes in Asian foods. He says by the time the increase trickles down to the customer, it will only be slight.―A lot of the distributors and everybody went in increments you don’t see a big price raise all at one time, but by May or June it might go up a little bit more than what my prices are now." he said.The economic impact may be felt more directly in other places. Rice farmer Walt Trevathan says he’ll plant about 350 acres of rice on his farm in the Sacramento Valley. He usually plants about 500. He says it’s enough to make it through the drought, but he worries about the effect on small communities.―Everybody that’s raising less of anything it’s going to affect all the communities because there’s always that trickle down of how many times our dollars get multiplied through the communities and that’s certainly you know, less fertilizer, less fuel, less everything being used," he said.Rice dryers, rice mills and storage facilities, equipment dealers all rely on the rice industry and all will be affected by the drought. But what worries rice farmers the most is the possibility that California could see more dry years ahead.Again, Nichole Van Vleck:―We have this wonderful system of customers that count on us each and every year and I don’t know that they’ll all be able to be serviced this year. Someone else will fill that void. You might not get the customer back,‖ she said.And economists say that’s the danger. Suppliers need a reliable quantity of rice or they’ll just go elsewhere. The drought or future droughts may send a signal to the world market that California rice isn’t reliable.
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Nagpur Foodgrain Prices - APMC & Open Market-May 5 Mon May 5, 2014 2:14pm IST Nagpur, May 5 (Reuters) - Gram and tuar prices in Nagpur Agriculture Produce and Marketing Committee (APMC) firmed up here on increased demand from local millers amid thin supply from producing regions. Notable rise on NCDEX in gram prices and weak overseas supply also boosted prices, according to sources. *
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FOODGRAINS & PULSES GRAM * Gram varieties reported sharp fall in open market here on lack of demand from local traders amid profit-taking selling by stockists at higher level. TUAR * Tuar varieties reported down in open market in absence of buyers amid ample supply from producing regions. * Moong varieties suffered heavily in open market here on lack of demand from local traders amid good supply from producing belts. * In Akola, Tuar - 4,100-4,300, Tuar dal - 6,300-6,500, Udid at 6,100-6,500, Udid Mogar (clean) - 7,200-7,700, Moong - 8,500-8,700, Moong Mogar (clean) 10,000-10,800, 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 2,360-2,700 2,300-2,700 Gram Pink Auction n.a. 2,100-2,600 Tuar Auction 3,850-4,360 3,800-4,310 Moong Auction n.a. 6,300-6,800 Udid Auction n.a. 4,300-4,500 Masoor Auction n.a. 2,600-2,800 Gram Super Best Bold 3,700-4,000 4,000-4,300 Gram Super Best n.a. Gram Medium Best 3,550-3,650 3,850-3,950
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Gram Dal Medium n.a. n.a. Gram Mill Quality 3,300-3,450 3,500-3,650 Desi gram Raw 2,700-2,800 2,850-2,900 Gram Filter new 3,000-3,200 3,150-3,450 Gram Kabuli 8,900-10,800 8,900-10,800 Gram Pink 7,900-8,300 7,900-8,300 Tuar Fataka Best 6,500-6,700 6,800-7,000 Tuar Fataka Medium 6,300-6,400 6,600-6,700 Tuar Dal Best Phod 5,800-6,000 6,100-6,300 Tuar Dal Medium phod 5,400-5,700 5,700-6,000 Tuar Gavarani 4,300-4,400 4,550-4,650 Tuar Karnataka 4,600-4,700 4,750-4,850 Tuar Black 7,800-8,000 7,800-8,000 Masoor dal best 6,300-6,500 6,300-6,500 Masoor dal medium 6,000-6,150 6,000-6,150 Masoor n.a. n.a. Moong Mogar bold 9,100-9,500 9,500-10,000 Moong Mogar Medium best 8,500-8,800 8,800-9,000 Moong dal super best 8,800-9,000 9,000-9,300 Moong dal Chilka 8,500-8,700 8,800-9,000 Moong Mill quality n.a. n.a. Moong Chamki best 8,500-9,500 8,500-9,500 Udid Mogar Super best (100 INR/KG) 7,700-8,000 7,700-8,000 Udid Mogar Medium (100 INR/KG) 6,300-7,100 6,300-7,100 Udid Dal Black (100 INR/KG) 5,300-5,600 5,300-5,600 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) 3,400-3,500 3,400-3,500 Watana Green Best (100 INR/KG) 4,900-5,200 4,900-5,200 Wheat 308 (100 INR/KG) 1,600-1,800 1,600-1,800 Wheat Mill quality(100 INR/KG) 1,750-1,800 1,750-1,800 Wheat Filter (100 INR/KG) 1,600-1,800 1,600-1,800 Wheat Lokwan best (100 INR/KG) 2,150-2,500 2,150-2,500 Wheat Lokwan medium (100 INR/KG) 1,850-2,000 1,850-2,000 Lokwan Hath Binar (100 INR/KG) n.a. n.a. MP Sharbati Best (100 INR/KG) 3,200-3,700 3,200-3,700 MP Sharbati Medium (100 INR/KG) 2,500-2,900 2,500-2,900 Wheat 147 (100 INR/KG) 1,600-1,700 1,600-1,700 Wheat Best (100 INR/KG) 1,700-1,750 1,700-1,750 Rice BPT new(100 INR/KG) 2,700-2,900 2,700-2,900 Rice BPT old (100 INR/KG) 3,200-3,600 3,200-3,600
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Rice Parmal (100 INR/KG) 1,700-1,850 1,700-1,850 Rice Swarna old (100 INR/KG) 2,700-2,800 2,700-2,800 Rice Swarna new (100 INR/KG) 2,300-2,450 2,300-2,450 Rice HMT new (100 INR/KG) 3,900-4,200 3,900-4,200 Rice HMT old (100 INR/KG) 4,400-4,700 4,400-4,800 Rice HMT Shriram (100 INR/KG) 4,900-5,900 4,900-5,900 Rice Basmati best (100 INR/KG) 10,000-13,500 10,000-13,500 Rice Basmati Medium (100 INR/KG) 7,000-9,500 7,000-9,500 Rice Chinnor (100 INR/KG) 5,600-6,000 5,600-6,000 Rice Chinnor new (100 INR/KG) 5,100-5,600 5,100-5,600 Jowar Gavarani (100 INR/KG) 1,400-1,600 1,400-1,600 Jowar CH-5 (100 INR/KG) 1,700-1,800 1,700-1,800 WEATHER (NAGPUR) Maximum temp. 39.4 degree Celsius (102.9 degree Fahrenheit), minimum temp. 24.9 degree Celsius (76.8 degree Fahrenheit) Humidity: Highest - n.a., lowest - n.a. Rainfall : nil FORECAST: Partly cloudy sky. Maximum and Minimum temperature likely to be around 41 and 25 degree Celsius respectively. Note: n.a.--not available (For oils, transport costs are excluded from plant delivery prices, but included in market prices.)
PHL Asia’s fastest rice producer–DA Category: Agri-Commodities 04 May 2014 Written by Alladin S. Diega / Correspondent DESPITE achieving only 97 percent of its rice self-sufficiency last year, the Philippines is now the Asia’s fastest rice producer after registering a 2.71-percent improvement in milled rice production from 2010 to 2013 period, the Philippine Rice Research Institute (PhilRice) said.Quoting a data from the World Market and Trade of the US Department of Agriculture released last month, PhilRice said that ―from 9.77 million metric tons (MMT) of milled rice recorded in 2011, production increased to 10.99 MMT last year.‖An attached agency of the Department of Agriculture (DA), PhilRice said last week in a statement that ―with produce, the Philippines
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surpassed major rice exporters including China and India, which showed an improvement of only 1.63 and negative 5.10 percent, respectively. ‖PhilRice also noted, that Thailand, a leading rice exporter, posted a 0.20-percent improvement in rice mill production of the same period.―The Philippines, considered a key importer in the world rice trade, posted imports that was maintained at 1.50 MMT during the last two years,‖ Tom Slayton, former editor of The Rice Trader publication was quoted by PhilRice, as saying.The Rice Trader is an international trade publication dedicated to in-depth analysis of the global rice industry.The rice research agency also reported that Bangladesh registered a 0.25-percent change difference in imports from 2011 to 2013, while China, although one of the largest rice producers in the world, registered 0.10 percent. Rice trade researchers Tin Htut Oo, Tim Maung Shwe, and Larry Wong was also quoted by PhilRice saying that the ―increasing private sector efforts in integrating increasingly Association of Southeast Asian Nations-wide modern farming and modern economic activities along agri-food supply chains and international trading networks could and should be harnessed and leveraged to complement and supplement ongoing government efforts [toward food security in Asia].‖Meanwhile, the US agriculture department reported in its recent market outlook that US food and farm exports to the Philippines reached a record $2.4 billion in fiscal years 2013, making it the United States’s 10th-largest agricultural export market.The report also noted that US agricultural exports to the country have increased nearly 20 percent over the last two years, led by a surge in sales of soybean meal, which grew 82 percent between 2011 and 2013.
California Rice Commission Brings Water Issues into Focus SACRAMENTO, CA -- The California Rice Commission (CRC) has developed an infographic to clearly and effectively communicate on water issues in the state and where rice fits into the debate."It's our experience that there are a lot of misunderstandings and misperceptions about water use in rice," said Jim Morris, Communications Manager for the CRC. "Probably because water is so visible in rice fields when compared with other crops. We wanted to take the opportunity to put it all in perspective."And they do. According to the graphic, the amount of water the state of California uses to keep the Sacramento Capitol Mall green could be used to produce one million servings of rice.Morris said the infographic was just one way they are communicating on this important issue with their core audiences -- legislators, regulators, decision makers, opinion leaders, the media, and the general public -- and he said initial reaction to the infographic has been very positive, particularly on social media. You can view the original CRC tweet and retweet it here. https://twitter.com/RiceNews/status/458996890965934080/photo/1 Contact: Michael Klein, (703) 236-1458
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Crop Progress: 2014 Crop 57 Percent Planted WASHINGTON, DC -- Fifty-seven percent of the nation's 2014 rice acreage is planted, according to today's U.S. Department of Agriculture's Crop Progress Report. Rice Planted, Selected States Week Ending State
May 4, 2013
April 27, 2014
May 4, 2014
2009-2013 average
Percent Arkansas
47
47
64
69
California
36
8
12
23
Louisiana
92
87
93
92
Mississippi
14
24
51
67
Missouri
62
45
55
63
Texas
97
79
85
94
Six States
53
45
57
65
CME Group/Closing Rough Rice Futures CME Group (Preliminary): Closing Rough Rice Futures for May 2
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Month
Price
Net Change
May 2014
$15.525
+ $0.025
July 2014
$15.515
+ $0.025
September 2014
$14.565
+ $0.045
November 2014
$14.680
+ $0.045
January 2015
$14.840
+ $0.040
March 2015
$15.005
+ $0.030
May 2015
$15.005
+ $0.030
Call to reopen rice cargo return case PPI May 05, 2014
KARACHI: The Union of Small and Medium Enterprises (UNISAME) has urged SM Munir the chief executive officer (CEO) of Trade Development Authority of Pakistan (TDAP) to reopen the case of return of rice cargo from Mexico and re-examine the matter threadbare to enable the rice exporters to again begin exports to this handsome market.President UNISAME Zulfikar Thaver said Mexico suspended rice imports from Pakistan following the detection of the Khapra beetle in some rice shipments from Pakistan. Around 3,000 tons of Pakistan rice shipment was placed in quarantine and returned to Pakistan.The rice exporters pleaded that the Mexican Port should return rice containers in which the khapra beetle was found and other containers should be examined to check for contamination and if no contamination found should be accepted Unfortunately the Pakistan Embassy did not help and paid no heed and behaved irresponsibly causing heavy losses to the exporters. It was expected by the exporters that the Pakistan embassy would intervene and get the matter resolved judiciously but the officials did not bother to mitigate the problems of the exporters.The transit period from
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Pakistan to Mexico is around 70 days and Pakistani rice had been properly fumigated to ward off khapra beetle.Some rice exporters alleged that the American and Mexican lobbies wanted to prevent Pakistani rice imports to Mexico because Pakistan’s rice is about $100 per ton cheaper than US rice. However, most of the US rice that Mexico imports is paddy (rough) rice, milled by Mexicos domestic mills. Only the US and Brazil allow exports of paddy rice, they added. Pakistan has exported about 16,000 tons of rice to Mexico during January May 2013, up about 1,500% compared to the same period last year. He said that the US is traditional rice supplier to Mexico and rice exports from the US to Mexico during January May 2013 stood at around 30,000 tons. Mexico consumes around 850,000 tons of rice annually, and rice imports by Mexico are projected at around 730,000 tons (milled rice equivalent) in 2013-14. The US accounts for over 90% of all rice imports by Mexico.Thaver urged the CEO TDAP to investigate the matter thoroughly and ascertain the cause and find ways to regain the Mexican market. The CEO TDAP could also obtain an explanation from the commercial attache in Mexico for not assisting the exporters and also question the Rice Exporters Association of Pakistan (REAP) for their role in the adverse situation. The rice exporters expected that REAP managing committee members should have reached Mexico and persuaded the embassy officials to accompany them to port authorities and carried out on the spot examination of cargo to advocate the cause of the rice exporters.It is pertinent to note that the commercial attaches placed at global destinations are duty bound to help the exporters and if they remain mere spectators in times of difficulties then it is important that they are asked to explain the irresponsible behaviour and negligence.
Formalise trade in rice seeds between India & Bangladesh: Study By PTI | 5 May, 2014, 05.02PM IST India and Bangladesh need to formalise bilateral trade in rice seeds as local farmers on both side of the border are using them for cultivation through illegal channels.ET SPECIAL: NEW DELHI: India and Bangladesh need to formalise bilateral trade in rice seeds as local farmers on both side of the border are using them for cultivation through illegal channels, says a study. "At present, the cooperation between India and Bangladesh in the area of rice seed is almost negligible. Despite several instances of informal movement of high yeilding variety (HYV) rice seed across the border, formal trade is conspicuous by its absence," said the Cuts International study. The availability and accessibility of rice
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seeds can be significantly improved through cooperation between the two countries, it said. Currently, HYV rice seeds can be imported only for trial purposes and the quantity of import is limited. Lack of harmonisation in seeds laws, policies, regulation and standards besides the issues related to intellectual property rights are key trade barriers between the two nations. The study said: "The issue of timely availability and accessibility of HYV rice seeds persists. This leads to informal flow of substantial quantity of HYV seeds." Some of Bangladeshi varieties of rice seeds popular on the Indian side are - Br-11, BRRI Dhan-28 and BRRI Dhan-29. The Indian rice seeds varieties popular in Bangladesh are - Swarna (including Guti and Sada), Parijat, Somsor, Swampa and Mamum among others, it said. The certified rice seeds of Swarna and Miniket variety from India are sold to the farmers in the informal market at Bangladeshi Taka (Tk) 60 per kg, where they are being bought from India at half the amount Tk 30 per kg, it added. The study observed that on both the countries, the public sector is dominant in supplying HYV rice seeds and due to inefficiencies prevailing in the public bodies, the supply falls short of the total demand leaving a gap to be either filled by farmers' saved seeds or informal flow within and across the border. To improve availability and accessibility, the study suggested that there is a need to identify and test HYV rice seed available in one or both the countries that could be adaptable in the two countries. If a particular rice seed variety is found useful, allow it for commercial cultivation in one or both the countries. That apart, there is also a need for collaboration in research activities, harmonisation of seed laws and regulations, it added. India, the world's second biggest producer, is estimated to harvest 106.19 million tonnes of rice in 2013-14 crop year (July-June).
Farmers despair of ever being paid for rice Published: 4 May 2014 at 06.04 | Viewed: 776 | Comments: 1 Newspaper section: News Writer: Patsara Jikkham
Farmers say they are giving up hope of ever receiving long-overdue payments from the government's ricepledging scheme.A group of rice growers spoke yesterday of their despair during their months-long rally on Chaeng Watthana Road against the caretaker government, saying they have little faith in an earlier promise by the Bank for Agriculture and Agricultural Cooperatives (BAAC) to settle the huge debts within a year. The government owes farmers about 90 billion baht for rice pledged under the 2013/14 crop season which ended in February.―The government cannot acquire enough money to pay us because of its caretaker status,‖ said Rawee Rungruang, leader of a network of farmers from western and lower northern provinces.The government must take responsibility by resigning, which would pave the way for a new government to step in and raise money for farmers, he said.Mr Rawee said farmers spend 5,000 baht to produce one tonne of rice, but fetch only about 5,500 baht from millers.Despite the government offering 15,000 baht per tonne — about 40%50% above market price — for grain under its pledging scheme, Mr Rawee said the programme is riddled with
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problems."Many growers claim there is huge corruption, and that few benefits go to farmers who join the scheme," said Kittisak Rattanawaraha, a leader of farmers from the North. The 15,000-baht offer is generous, but such spending cannot avoid causing a detrimental impact on state coffers, he said.Buai Duangdet, a farmer from Kanchanaburi's Phanom Thuan district, said the programme could be beneficial if it were free from graft, but she has nothing to do now except wait for the money owed to her and attempt to raise enough cash to plant a new harvest.―We have no idea what to do about another career,‖ Mr Rawee said.
BAAC to seek B186bn budget for populist policy repayment Published: 5 May 2014 at 00.58 | Viewed: 1,582 | Comments: 1 Newspaper section: Business Writer: Wichit Chantanusornsiri
The state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC) is poised to request a 186-billionbaht budget from the new administration for the 2015 fiscal year to compensate for losses incurred from all populist policies of previous governments, its chief says. Of the total, 150 billion baht will be used to repay the Yingluck Shinawatra administration's rice-pledging scheme, 30 billion is for the Abhisit Vejjajiva government's farmer income guarantee scheme and the remainder is for other populist projects including the debt suspension for farmers initiated by ousted premier Thaksin Shinawatra. The farmer's bank only expects to receive half that amount, as was the case with the 2014 fiscal budget, said president Luck Wajananawat.Even though 2015 fiscal budget approval is highly likely be delayed for months due to the absence of a functioning government, it should not affect the bank's liquidity, which now has a surplus of around 200 billion baht, he said.The fiscal year runs from Oct 1 to Sept 30.A source at the bank said the rice pledging scheme has created the most losses of all the populist policies sponsored by previous administrations.Before the Yingluck Shinawatra government took the helm in the third quarter of 2011, the debt burden from the previous government's rice intervention programmes amounted to 130 billion baht, but that burden has declined as the Yingluck administration took most of the budget for the rice pledging scheme .For fiscal year 2014, the government approved an 82-billion-baht budget to pay the debt for populist policies managed by the BAAC, 62 billion of which was used to pay debt incurred from the rice pledging scheme alone.Unlike rice subsidies in the past, the rice pledging scheme, the main campaign promise that helped sweep Ms Yingluck to power, saw the government buy every single grain at the pledged prices, which were 40-50% higher than market prices. The grain was then hoarded in warehouses in the hope that global prices would increase significantly when a large supply was removed from the market. But a glut of rice from other producers saw that strategy spectacularly backfire.The Yingluck government has spent over 800 billion baht to
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fund its pledging programme since it began in October 2011, and it is still keeping its lips shut on the scheme's official losses. Recently a subcommittee overseeing the accounting for the pledging scheme, led by Finance Ministry deputy permanent secretary Supa Piyajitti, said that losses from the scheme for the three crops through the 2012-2013 main crop amounted to 220 billion baht and could reach 400 billion baht if the two crops through the 2013-2014 main crop are included. The Yingluck government is months behind in its pledging payments to farmers for the 2013-2014 main crop. The caretaker government has limited borrowing authority so it does not run up a big debt for the next government, while rice sales by the Commerce Ministry were insufficient to pay for the pledges.As of April 29, some 99.5 billion baht had been paid to farmers, leaving 100 billion baht unpaid.
Rice may be range-bound over the next few days Our Correspondent Karnal, May 5:
After witnessing a downtrend last weekend, Pusa-1121 rice managed to maintain its previous price level, while other aromatic and non-basmati varieties continued to rule flat on Monday.Tara Chand Sharma, proprietor of Tara Chand and Sons, told Business Line that prices of aromatic and non-basmati rice varieties are ruling almost unchanged. The market is moving at a snail’s pace. Not only the buyers but sellers are also inactive in the market currently, he said.According to the trade experts, the market may continue to witness a range-bound trend even in the coming days. In the physical market, Pusa-1121 (steam) was sold at ₹9,200 a quintal, while Pusa-1121 (sela) was quoted at ₹8,000 a quintal. Pure Basmati (raw) was quoted at ₹12,450 a quintal. Duplicate basmati (steam) was sold at ₹7,500 a quintal. Pusa-1121 (second wand) was sold at ₹7,350; Tibar at ₹6,400, and Dubar at ₹5,400 a quintal. In the non basmati section, Sharbati (Steam) sold at Rs 4,850 while Sharbati (Sela) quoted at Rs 4,300 a quintal. Permal (raw) sold at Rs 2,350 a quintal, Permal (sela) at Rs 2,320 a quintal, PR-11 (sela) sold at Rs 2,725 while PR-11 (Raw) at Rs 2,700 a quintal. PR14 (steam) sold at Rs 2,900 a quintal. (This article was published on May 5, 2014)
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NACC 'won't rush' rice scheme probe Published: 3 May 2014 at 06.04 | Viewed: 1,036 | Comments: 1 Newspaper section: News Writer: Penchan Charoensuthipan and King-oua Laohong
National Anti-Corruption Commission (NACC) member Vicha Mahakun has promised the NACC will not rush its probe into caretaker Prime Minister Yingluck Shinawatra's role in the rice-pledging scheme. The high-profile case has far-reaching implications and the commission needs to study the details carefully, he said.The antigraft agency was still waiting for the conclusions from its panel investigating the case, said Mr Vicha, who led the sub-panel which conducted the preliminary inquiry.
Ms Yingluck was charged with dereliction of duty by the NACC in January for allegedly failing to deal with corruption in the subsidy scheme.If the NACC recommends Ms Yingluck for indictment in the Supreme Court’s Criminal Division for Holders of Political Positions and impeachment by the Senate, she will immediately be suspended from her duties as prime minister.Mr Vicha said the NACC was in the process of summing up its findings, but stressed it must exercise the utmost prudence to ensure the investigation is complete and based on the facts.He said the NACC must examine the evidence closely to avoid criticism."We are not in the business of passing judgement on the politics of things," Mr Vicha said. "We don't feel we're meddling in politics and so we have no concerns. "Also yesterday, Bancha Porameesanaporn, one of the lawyers representing Ms Yingluck in the rice-pledging case, denied accusations that he had threatened the NACC.On Tuesday, Mr Bancha said the NACC's decision not to allow seven witnesses to testify in Ms Yingluck's defence was unfair and improper. He threatened to sue the NACC members for abuse of authority, saying his team of lawyers was gathering evidence against them.He said yesterday he had every right to protect Ms Yingluck's interests and the fact he was mulling legal action against the NACC should not be deemed as a threat.The NACC kept reiterating that 2 million tonnes of rice under the pledging scheme were unaccounted for, and yet refused to hear evidence to the contrary, Mr Bancha said. If the commission was confident it had done nothing wrong, it should not be "nervous", Mr Bancha added.
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