IND 24
W
MODda,.. 19 November, 2012
ORLD rice production In
2012 may surpass last season's
record. due to favourable growing condluons, the Foods and Agrlcullural OrgarUsaUOl1 (FAO) Food Outlook, a bl-annual global market tq)Ort, has said According to the report, -steady Im port demand, togcthu with very ample export supplies, are auatalnlng an cxpanskm of trade in
Rice production set for new record 20 12, with a further,
albeit small. Increase foreseen III 2013· The FAO Food Price Index fell one per cent in Oclober2012, and for the Orst 10 months of the year food pr1cc:s were on
the average. eight per cent lower tha n In the ~ period In 2011 The lnda dipped [\1.'0
points to 213 polnts from September's rev1scd IC\~I of215potnts. TIle decline was largdy due to iowc:r International prices of cereals and oils and fats, which more than offSCI Increases In dairy and sugar prices The report aoo noted lhat lower IntemaUonal pTlC'e5 and freight nltes,
Fashola charges LCCI on commercial G ~'Vb~~:no..~ motorcycle operators
Fuhola of Lagos State has urged the Lagos Chamber of Commer« and Industry (LCCI) to urgentJy design a new business plan that will accommodate
commercial motorcycle opttatora popularly called Okada riden who were recently restricted from plying 475 roads In the
state rashols, who made the appeal recently at thc
cclcbraUon of the 2012 Lagos State day and the closing ceremony of the 2012 Lagos State Trade
Fair and Exhibition. In L..agos. dcscrllxd thls as the: only way lhc chamber could partner ...Ith Lhe stale g<M:mmcnl on t.hc: new road tra1Jlc law According to the governor. who was rcprcacnu:d by his deputy. Mrs AdcJokc Orclo~-Addullrc. ~c why wt' Sttk the
..... 1"iOO
I'
Inc rshlp of Leel Is
that the prennt administration in Lagos State knowsof the Importance the chamber" as 1m umbrella body for business 10 the
country, cspedally Lagos
State. -LCCI 15 ODe body that is in a beuc:r poslUOO to help the atate government 10 dc:vc:'oplng a austalnable b u siness p lan tha t would accommodate all the okada: opernton who. by vtrtue of the new law may not be able to engage In the business again -VVe need a sustainable business plan for these: residents of the state. This IS because okada Is nOI a sustalnabk means of transportation for any state. especlaJly Lagos State. which has a mcgactty status.-Bdan: the restrlcUon of okada In the state. the number of orphans.
WIdows and wtdowttswas
Inc r easing dally, and h oap "a" 5
n Ih e s I a I e were being congested with vlcllms of okada accidents The governor emphasised that since tJle I'"CIIItrk:tion, the state had recorded a druUc reducUon In the n umber of aCCidents and crimes. According to him. tJle atate governme n t was ready to partner with the chamber to come up with the right business strategy plan for these opel1ltOf'S
togdher with lower cenal purchases, could push do wn the world food Import bUlln 2012 Global expenditure on food ImportS was forecast at 8 1 14 trtlllon in 20 12. 10 per cen t lower lhan last year·s rttOrd kvd -Despite light markets. a set of condIUOns and measures have so rar stopped IntemaUOnaJ food pr1ces from spiralling up 85 they did In 2007-2008 and 2009-2010. Chid among lhose are: the Improved International coordinaUOn and market transparency brought about by the G20's Agricultural Market Information System tAMIS) which has helped to prevent panic and to stop the "''Or'St drought In d ecades turni ng Into a food price: crisis as It has happened In the past,· said the FAO Director· Gcneral. Jose Graziano da Silva ·Drough ts or noods are nol what cause crises. les lack of governance. We need to strengthen the global
governance of food securily: added GrazJano da Sliva According to food outlook, t he balance between globa l cereal supply and demand Is forecast 10 tighten considerably In 2012113, due mainly to likely declines In wheat and maize outputs. VVorld cereal production Is forecast to fall by 2 7 per cent from previoUs year's record. leading to a 25 million tonne contnlCUon in world stocks While the FAO Ce:rmI PrIce Index rema1ned 12 per cent higher than In October last year, It fell I 2 per cenl from September. mostly because of 8l1ghtJ) k)wer lA11eat and malz.e pr1ces Curren I whc::at prlce8 renect reduced trade activity, while maize \'8lues are down, mostJy due to slowing dcmand from the livestock and Industrtal sectors VVortd cassava output IS e:x:pected to Increase vtgorously In 2012 and may continue to do 50 In 20 13. sustained by growth
in Afr1ca. when! cassava remalns a SLTalegIC crop f(lf" both food secur1ty and poverty alleviation Prospects are more uncertam In Asia. ~..here: the sector expanSion next year wJII largely depend on the compe:u\~ of cassa\'3 as an ethanol feedstock.. In 20 12. lA'Orid trade In cassava productS is set to undergo a marked Increase . ('ntlrely sustained by Industr1al demand
The 2012 113 ollcrop
seuon Is opening under the legacy ala ught 2011 12 balance and a disappointing soybean crop In the United States Current supply and demand fon:.cu15 for tJle new season provide limited scope for a relaxauon In pnces at least unUI prospects for record South American 50)" crops are: confinned TIle FAO Sugar Pr1ce: Index averaged 288 polnls In October, up 1.6 per cent 1M 45 pointsl £rom September. but down 20.2 per cem lor 73 polntsl from Oclober last year
Nigeria, Ghana trade not economically beneficial -Ghana Consu[ate
T
HE Chana High atlrlbuted to lhe growth CommiSSioner 10 In the 011 and gas sector Nigeria. Alhajl and other extractive Saba Kamara. has said Industries that In spite of the -For the needed -From 1<fL Product Manager. OTC. Mt Ferni Ajala; General Manager. Marketing, Mt 010 ljimaJdn and noUceable growth to the economic development Corporate Services Manager. Mt Oladimeji Oduyebo. aU of Fidson HeahhCCll"'e Pic. during the official economics of Nigeria and transfonnauoo to take media produc t launc h of the company's d{Uerenr ranges ofTuxU cough syrup. held at the comp4llY'. and Ghana In the lasl place.,,~ need to create hftld o.ffi~. in Laf1O$o on Thursday, Photo: Sylvester Okoruwa ~ecades. II has not 1m enabling owtronment translated Into the that wUl see government economic development and the private sector that 15 required to lin Im-est to the producUve both countries from sectors of the economy T IE Manufacturers ~ate a free trade area concluded EPA could only rettntJy. In Lagos. the povert\". where quality goods and Anoclatlon of betwe~n the European spell doom for the more PreSident of MA!\: , Dr Speaking at the servk:es will be produoed Nlgena (MANI has Union lEU) and the than 250 mlllkln people Kola Jamodu. dlSdosed Chana business forum at compeUth-e p r1ces for warned the Federal African. Caribbean and and lhe pnvale sector III that the net effect of EPA on fringes at ,he 2012 domestic consumption Government on the Pacific Group of States ECOWAS ,,'ould deepen de Lagos Int~rnatlonal andc:xporL Impending dangera tn (ACPI. In response to The aSSOCiation. Industrialisation Trade Fair ILITF). " It Is lA'hen we: the natlon·s continulllg criticism ,herefore, ad\'lsed the process In Nlger1a and Kamanlaald "the grolA'1.h produce quality goods manufacturing sector. lhat the non-reciprocal Federal Government to ECOVVAS. -because has not tnoslated Into that can compete with should it append Its and discriminating exercise patience and unbridled Imports will the economic products from other slgnatur~ to the preftrenllal trade caution In rt>\'ie,,1ng all lead to a shut·down of de\'elopment that Is countries t h at we can Economic Community of agreements offered by proposals from the the few sur\"I\'lng required to 11ft the effectively trade West Afnca States the EU are: incompatible European Un ion Industries. 1A'lIh masses out of poverty between the two IECOWASrs Economic wllh World Trade Sp('aktng al a consequem cat35uophiC because th~ growth In coumrles and r~ap the Partnership Agreement OrganlsatJon's rulcs. worluohop on ECOWAS· Implications for labour the gross dome-'ltlc benefits that 11 brings: IEPAI. To the associatiOn. a EPAIA'Orkshop.organl5Cd sha\1n~ and entrenched ~l III 'argrh' ~dd.._ __ _"'::"'_ _"Th"',,",E:lr"·" '.'2 _ __. I"'''''...,.'. '. .... ' ,,.....,,,,"Olcm,t y - - - - -
MAN 'Warns FG on EPA
_'"1 '....'..........__.,.,.._..,__,;....,;;.,.....