Published on February 27, 2014
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TOP Contents - Tailored for YOU Latest News Headlines… Asia Rice-Prices steady on demand from Africa, China, Malaysia Thai govt to offer $615 million of debt to help fund rice-subsidy scheme UTCC: Thailand’s 2014 rice export would plunge in both Asian and global markets Vietnam’s Agricultural Sector Sees Strong Growth Thanks to FDI Rice: Meeting Puts Quality Issues On Table With Central American Buyers Research and Markets: Concise Analysis of the Chinese Rice Milling Machinery Industry Why Hain Celestial's Weakness Is a Buying Opportunity EPA approves Sercadis for full federal label in 2014 APEDA asked to file amended GI application: BGA-Pakistan opposes call for including Madhya Pradesh in Basmati growing area The macroeconomics of rice-pledging programme Thailand’s rice mountain offers grain of hope to neighbours Cabinet approves allotment from emergency fund to aid rice pledging scheme IMD forecast on Monsoon by mid-April, says Pawar Ivory Coast eyes rice self-sufficiency with foreign firms' help Improved white ponni rice variety Nagpur Foodgrain Prices Open- Feb 26 B20bn approved for pledging News Detail…. Asia Rice-Prices steady on demand from Africa, China, Malaysia * Thai prices steady after rebound last week * African nations buying small lots of Thai rice * Cold weather delays Vietnam harvest peak to mid-March * Vietnam's Jan-Feb rice exports down 6.3 pct y/y By Ho Binh Minh HANOI, Feb 26 (Reuters) - Asian rice prices were steady this week, supported by new demand from Africa, China and Malaysia, ahead of an expected pick-up in supplies from bumper crop harvests in Thailand and Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
Vietnam, traders said on Wednesday.In Thailand, the world's third-largest exporter after India and Vietnam in 2013, rice exporters were loading shipments for African countries including Nigeria, Togo and Ghana under small deals signed last week, a Thai rice trader said.China, which scrapped a 400,000-tonne deal with Thailand early this month due to an anti-corruption investigation in the Southeast Asian nation, could secure another deal in March, a senior Thai government official said on Tuesday.In addition, Malaysia was looking to buy 300,000 tonnes of rice and has sought offer prices from Thailand, Vietnam, India and Pakistan, a state-run newspaper reported on Wednesday."Thailand is likely to secure the contract as it offers $380 a tonne, much lower than those offered by the other three countries," Vietnam Food Association Chairman Truong Thanh Phong was quoted as saying by the Saigon Marketing newspaper.Phong could not be reached for comment. Thailand's common grade 5 percent broken rice jumped 14 percent on Friday from the previous day to $435$440 a tonne, on a free-on-board (FOB) basis, and has stood at $430-$440 a tonne since Monday. (RITHBKN5-P1) In Vietnam, thin domestic stocks coupled with China's purchases and shipments heading to the Philippines has helped keep prices firm despite expectations that the current harvest will peak in mid-March, traders said."China has been buying strongly under deals delivered across the land border, so prices have not eased as expected," a trader at a foreign firm in Ho Chi Minh City said.Vietnam's 5 percent broken rice edged up to $380-$400 a tonne, FOB, from $380-$395 a week ago.It was not immediately clear how China's import demand from Vietnam would fare in 2014. Last year, China was Vietnam's top buyer, taking 3.6 million tonnes or more than 40 percent of its total rice exports, based on government and rice industry data.Colder-than-normal temperatures in early February has affected the country's largest-yielding Mekong Delta winter-spring crop, and the harvest peak will be delayed by two weeks to mid-March, traders said.Vietnam will be loading rice for the Philippines until mid-March under a contract of 500,000 tonnes signed last November.Vietnam's rice exports in January-February dropped 6.3 percent from a year ago to an estimated 749,000 tonnes, the government said on Wednesday, higher than an earlier agriculture ministry estimate of 702,000 tonnes. (Additional reporting by Pairat Temphairojana in Bangkok; Editing by Tom Hogue) Thai govt to offer $615 million of debt to help fund rice-subsidy scheme February 26, 2014 5:03 AM ET BANGKOK (Reuters) - Thailand's caretaker government plans to sell up to 20 billion baht ($615 million) of short-term debt this week to help fund a controversial rice-buying scheme, according to documents seen by Reuters on Wednesday.The Finance Ministry's Public Debt Management Office (PDMO) will auction eightmonth, state-backed paper on Thursday, according to a letter sent by the PDMO inviting the Metropolitan Waterworks Authority to bid. PDMO officials were not available for comment.The proceeds would be for the Bank for Agriculture and Agricultural Cooperatives (BAAC) to pay rice farmers, some of whom have been waiting months for payment for crops sold to the government program.The state-owned BAAC manages the scheme, which has run into funding problems, compounded by political unrest that has left a caretaker government with little power to raise Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
money.As of February 24, the government had bought 11.02 million tonnes of rice from the 2013/14 main crop valued at 185 billion baht, a BAAC official told Reuters on Wednesday. The bank had paid farmers 69.5 billion baht of that, with 115.5 billion baht still outstanding, the official said, declining to be identified because he was not authorized to speak to the media.The arrears have built up because the government has been unable to sell enough rice from its stockpiles.Prime Minister Yingluck Shinawtra dissolved parliament in December to try to end a protracted political crisis.A general election was held on February 2 but that was disrupted by anti-government protesters, leaving a caretaker administration with limited powers to borrow or use government funds for the rice scheme.Some spending has to be approved by the Election Commission and on Tuesday it authorized 712 million baht to be used from a central budget to pay farmers.After a cabinet meeting the same day, Commerce Minister Niwathamrong Boonsongpaisan said the government would seek approval to use an additional 20 billion baht from the budget, adding the finance ministry was still working on securing "a large loan" to help with rice payments.The Commerce Ministry has also sold 600,000 tonnes of rice from its stocks this month to raise funds and has opened a second tender for another 500,000 tonnes. ($1=32.5 Thai baht) (Reporting by Kitiphong Thaichareon and Pairat Temphairojana; Writing by Orathai Sriring and Alan Raybould; Editing by Kim Coghill) (c) Copyright Thomson Reuters 2014. Check for restrictions at: http://about.reuters.com/fulllegal.asp UTCC: Thailand’s 2014 rice export would plunge in both Asian and global markets 26.02.2014 The University of the Thai Chamber of Commerce (UTCC) has indicated Thailand’s 2014 rice exports would plunge in both Asian and global markets due mainly to low outputs, and high production cost.The UTCC’s Foreign Trade Study Department Director Att Pisanwanich predicted that rice exports would not exceed 6.8 million tons this year, leading to a missing of up to 3.4 billion baht in export value. The volume shows a decrease of 2.8-7.1 percent from last year’s 7 million tons, making Thailand the third largest rice exporter after India and Vietnam.Mr. Att said India is likely to export 9.3 million tons of rice this year while Vietnam should be able to export 7.8 million tons. He also said Thailand should keep an eye on Myanmar whose rice exports could reach 1.05 million tons, a massive jump from last year’s 750,000 tons.Director Att expressed his concerns over the future of Thai rice exports as other rice suppliers in the region such as the Philippines, Indonesia and Malaysia all have stepped up their productivity while the number of customers of Thai rice is declining following poorer quality of the products.Mr. Att also suggested the government spend 200 billion baht to establish a fund to subsidize 40% of the production cost of farmers, which could save the government’s spending of 100 billion baht a year. He claimed that the plan would be more viable than the trouble ridden rice mortgage program Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
Vietnam’s Agricultural Sector Sees Strong Growth Thanks to FDI 26.02.2014 Known as the “Asian rice bowl,” Vietnam exports around six to seven million tons of rice each year. The country is situated in a very favorable location for agricultural production. In particular, the country benefits from its good weather, fertile soil, and large workforce.Over the past few years, there has been a marked increase of FDI into Vietnam’s agricultural sector. Previously, this area had been relatively unattractive to foreign investors; however, with the fast approaching conclusion of the Trans-Pacific Partnership (TPP) negotiations, Vietnam’s agriculture industry is becoming increasingly enticing. This Free Trade Agreement (FTA) removes tariffs and other trade barriers between the signatory countries, which include the United States, Vietnam, Australia, Malaysia, Singapore, and other countries in the Asian region.Another important FTA between Vietnam and the EU is currently under negotiation and will have a major impact on Vietnam’s agriculture. RELATED: Vietnam-EU Free Trade Agreement Expected by Late 2014.These FTAs and the incentives offered by Vietnam’s government are predicted to dramatically increase foreign investment into the agricultural sector.Once the existing trade barriers have been removed, Vietnam’s agricultural products will have an unimpeded path to some of the largest markets in the world.Among the countries leading the investment charge into Vietnam’s agricultural sector are Japan, Australia, and Israel. These countries, and others, are bringing modern technologies and large amounts of capital to Vietnam. This has helped the country produce greater amounts of crops and has strengthened the brand image of Vietnam’s products.A Further Incentive for Growth.The Vietnamese government has promulgated a series of legal decisions that aim to boost FDI investment in the agriculture sector. On February 7, 2014, the Ministry of Industry and Trade (MOIT) released Circular No.02 which states that material imported to Vietnam intended for domestic agriculture production will be exempted from import tax. Rice: Meeting Puts Quality Issues On Table With Central American Buyers AgFax.Com - Your Online Ag News Source From US Rice Producers Association's Rice Advocate Houston, we have a problem.And the problem has nothing to do with the space program but with the quality of US rice being delivered into the important Central American market. This week in Houston, Texas, members of the board of directors for the Central American Rice Federation (known as FECARROZ) met with the leadership of the US Rice Producers Association.While the two day meeting covered a range of topics, nothing was more important than the continuing debate on the quality of U.S. rice, a subject that the members of Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
FECARROZ have been extremely vocal about, especially since late 2010. Carlos Mejia, President of FECARROZ and a rice miller from El Salvador, reinforced his concern about the poor quality still being received in his market, as did the representatives from Costa Rica, Guatemala, Honduras and Nicaragua. Carlos Gonzalez of Costa Rica along with Michel Hawit and Kamal Dieck, rice millers from Honduras, expressed their frustration and disappointment with the characteristics (chalk, milling yield, amylose content, cooking quality, etc.) of US rice and the growing complaints from the consumers in their markets.These complaints are generated by the poor, low income consumers, Mr. Dieck pointed out, as well as those from the upper levels of the economic ladder.Dwight Roberts, President and CEO of the USRPA, expressed his sincere concerns to the FECARROZ leadership and renewed his organization’s commitment to continue its push for shipments of identity preserved rice to their market as a solution to the problem.“It is very obvious we are at a very critical crossroads in these markets and it is up to the U.S. rice industry as a whole to properly address this problem because we can no longer go along with dancing around the problem due to a variety of special interests that prevent progress on this subject,” stated Roberts. Dr. Steve Linscombe, Director of Louisiana State University’s Rice Research Station, noted in a presentation that the quality issue is a complex problem in the U.S. but that the Central Americans should be able to source the kind of rice needed.He pointed out that 10 years ago Louisiana largely planted just one rice variety, but today at least 10 varieties are planted in the state. He encouraged efforts of shipping identitypreserved rice as the solution to the problem. The co-mingling of U.S. varieties in shipments to Central America where 20-plus different types of rice are in one vessel strikes at the heart of the problem. The USRPA has been very vocal on the subject of identity preserved rice. While there have been efforts within the rice industry to execute IP export sales, there has yet to be a strong enough push in that direction.“Unless we improve out logistical methods to sell the customer what he/she wants, then we will continue to see our competition move into these markets that have been so important to the long-grain rice farmer along the Gulf Coast and Delta,” said Roberts, adding that the USRPA must step up its efforts with farmers, merchants and exporters in order to maintain this market. “This is not about giving the customer a new chicken and rice recipe and telling him it will save his market.” Tags: Rice, rice market, rice news, US Rice Producers Association Research and Markets: Concise Analysis of the Chinese Rice Milling Machinery Industry February 25, 2014 12:54 PM Eastern Standard Time 'Concise Analysis of the Chinese Rice Milling Machinery Industry' is a professional and in-depth research report on the rice milling machinery industry in China.The report first provides basic information on the rice milling machinery industry, covering definitions, classification, application, industry chain structure and overview. Market analysis is provided for both the international and Chinese domestic situations including product and technology developments, competitive landscape analysis, key regions development status, trends Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
and market comparisons. Development policies and plans are also discussed and manufacturing processes and cost structures analyzed. Import/export consumption, supply and demand figures and cost price and production values are also provided.A key feature of the report is its focus on 13 industry players providing company profiles, product specification, capacity production, price cost, production value and contact information. Up and downstream industry analysis is carried out for raw materials and equipment. Rice milling machinery marketing channels, industry development trends and proposals are analyzed as well as the feasibility of new investment projects. Finally the report offers overall research conclusions. Key Topics Covered: 1 Rice Milling Machinery Industry Overview 2 Rice Milling Machinery International and China Market Analysis 3 Rice Milling Machinery Industry Development Environmental Analysis 4 Rice Milling Machinery Development Policy and Plan 5 Rice Milling Machinery Manufacturing Process and Cost Structure 6 2009-2013 Rice Milling Machinery Productions Supply Sales Demand Market Status and Forecast 7 Rice Milling Machinery Key Manufacturers Analysis 8 Up and Down Stream Industry Analysis and Influence 9 Rice Milling Machinery Marketing Channels Analysis 10 Rice Milling Machinery Industry Development Trend 11 Rice Milling Machinery Industry Development Proposals 12 Rice Milling Machinery New Project Investment Feasibility Analysis 13 China Rice Milling Machinery Industry Research Conclusions Companies Mentioned: Bühler HUNAN XIANGLIANG Hubei Bishan Grain & Oil Equipment Hubei YONGXIANG Hunan Chenzhou JIANGSU HEXI MACHINERY MUYANG SATAKE MANUFACTURING Wufeng YANGZHOU ZHENGDA MACHINERY MANUFACTURE YUTAI GOLD AND GRAIN OIL MACHINERY Zhejiang QiLi Machinery Zhejiang Zhancheng Machinery For more information visit http://www.researchandmarkets.com/research/n89rql/china_rice Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
Why Hain Celestial's Weakness Is a Buying Opportunity by Harsh Chauhan, The Motley Fool Feb 25th 2014 11:02AM Updated Feb 25th 2014 11:04AM The organic food industry has been growing at a terrific pace. Transparency Market Research states that the global organic food & beverages market is expected to grow to $187.85 billion by 2019, from just $70.7 billion in 2012. As such, it is quite natural to expect the competition to heat up in this space, with the likes of Hain Celestial and General Mills fighting for a piece of the pie.Among the companies in this space, Hain Celestial looks to be one of the most promising players. The company has delivered consistently solid revenue and earnings growth in the past couple of years, and its diversification across the globe is one of the primary reasons it is well placed to benefit from the organic food market. So, the weakness in Hain Celestial's shares after it reported its second-quarter results earlier this month is a good opportunity for investors to get into this growth story. Looking beyond the weakness The earnings report wasn't that bad. Hain managed costs pretty well, and it delivered a 30% jump in earnings despite an increase in commodity costs that led to a 200-basis-point drop in the gross margin. Revenue was up 18% from last year to $535 million, slightly below the consensus estimate, while the outlook was also more or less on par with expectations. Now, Hain Celestial has been making numerous moves to make the most of the organic food opportunity. The company has undertaken a spate of acquisitions over the past few years, stamping its presence across markets ranging from North America to Europe and Asia. The latest of these acquisitions is that of basmati rice company Tilda, which Hain has acquired for $357 million. This acquisition is expected to boost Hain's bottom line by $0.06 to $0.10 per share in the second half of this year. From a long-term perspective, this acquisition is really smart. Tilda has a portfolio of more than 60 dry rice and ready-to-heat products that it sells across 40 countries. Tilda's products are sold across the U.K., the Middle East, North Africa, Europe, North America, India, and other locations, further diversifying Hain's presence.Hain management claims to have strong interest from retailers in the U.S. for basmati rice. However, the major benefits of this acquisition should be seen in the Asian market, where more than 90% of the world's rice production is consumed, according to the International Rice Research Institute. Spreading its wings Hain has been aggressively promoting its product portfolio. Its snack products are seeing good display activity at major grocery stores such as Whole Foods Market. Hain is also promoting its products through in-store weekly fliers atKroger, Publix, Wal-Mart, Costco, and Target. In the U.K., Hain is pushing its products through Tesco, where its New Covent Garden Soup is being sold through 19,000 distribution points.Also, to improve the efficiency of its European operations, Hain has made some key investments. It invested in a new non-dairy facility in Germany to improve capacity, which should help it reach a wider market in Europe through its Dream brand. Last year, Hain invested $70 million to improve infrastructure and distribution, and it is going to continue in the same vein this year as well. Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
Focus on key areas In addition, Hain is also focusing on productivity savings to improve its earnings. In the previous quarter, Hain's productivity savings were $7 million, driven by plant efficiencies and savings in SG&A costs. The company has increased its internal production for certain products and it will continue to do this going forward to make its operations more efficient. Also, Hain is looking to introduce more than 100 new products at the Expo West show in March, which further increases its chances of tapping the organic food market successfully. Further aiding Hain's chances of making the most of the organic food market is its solid distribution platform. As mentioned earlier, the company's products are sold through many grocers and retailers.For instance, Whole Foods Market is looking to accelerate its store development program going forward. Whole Foods already has close to 400 stores in the U.S., Canada, and the U.K., and going forward, the company is targeting smaller, underserved markets. For instance, In the U.S., Whole Foods targets eventually opening 1,200 stores by expanding into markets where customers don't have easy access to its organic food offerings. Something to watch However, Hain Celestial could face stiff competition from bigger food companies such as General Mills that are moving into the organic food market. To woo customers, General Mills has decided that it won't be using genetically modified ingredients in Cheerios -- the well-known breakfast cereal. General Mills is also going to aggressively market its Yoplait Greek-style yogurt to increase market share. Hence, there is no dearth of competitors in this market and it makes sense for Hain investors to keep a close eye on rivals' moves. The bottom line However, from an investment point of view, Hain Celestial could prove to be a better pick than peers in the organic food space. Its trailing P/E is 31 while its forward P/E of 24 indicates that earnings growth can be expected going forward. With earnings expected to grow at an annual rate of 15% over the next five years, double the pace of General Mills, it is a fast-growing option for investors who are looking to make money in organic food. Is your portfolio optimized for amazing growth? They said it couldn't be done. But David Gardner has proved them wrong time, and time, and time again with stock returns like 926%, 2,239%, and 4,371%. In fact, just recently one of his favorite stocks became a 100-bagger. And he's ready to do it again. You can uncover his scientific approach to crushing the marketand his carefully chosen six picks for ultimate growth instantly, because he's making this premium report free for you today. Click here now for access. The article Why Hain Celestial's Weakness Is a Buying Opportunity originally appeared on Fool.com. You Will Turn Off Your TV Television is on its way out. And you’re going to be thrilled. Because that means... as soon as 2014, you could ditch your cable company... along with all the headaches.But that also means the $2.2 trillion entertainment industry is up Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
for grabs. And The Motley Fool knows exactly which three companies are poised to hijack your cable provider’s profits. Our newest FREE report details everything you need to know to line your pockets as cable crumbles. John Mackey, co-CEO of Whole Foods Market, is a member of The Motley Fool's board of directors. Harsh Chauhan has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Costco Wholesale, Hain Celestial, and Whole Foods Market. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy. EPA approves Sercadis for full federal label in 2014 Feb. 25, 2014 | Delta Farm Press Fungicides have been used on rice since 1977, the LSU AgCenter's Don Groth said. Sheath blight in rice became a problem as more rice farmers started growing soybeans in rotation with rice, and the beans were also susceptible to the sheath blight pathogen which causes aerial blight. Before that, farmers rotated rice with pasture for cattle.2011 Flooding, The Environmental Protection Agency has granted a Section 3 federal registration for the new fungicide, Sercadis, for use on strobilin--resistant sheath blight in the rice-growing southern states.Sercadis, which contains the active ingredient Xemium, has been available under a Section 18 emergency exemption to fight outbreaks of the resistant sheath blight in Louisiana for the past two growing seasons. The strobilin-resistant sheath blight, which is the same disease as aerial web blight in soybeans, initially was found in a South Louisiana parish in 2012. It has continued to spread in South Louisiana and could move to other states, according to the LSU AgCenter’s Don Groth.“If it happened here, it can happen somewhere else,” said Groth, an LSU AgCenter plant pathologist based at the LSU Rice Research Station in Crowley, La. “We think we have detected it further north into Allen and Evangeline parishes.”A speaker at the Rice Technical Working Group bi-annual meeting in New Orleans, Groth said the continued use of the same fungicide in both rice and soybeans led to the development of resistance. “If you challenge the population enough and put selection pressure against it, a resistant pathogen will develop.”BASF, the manufacturer of Sercadis, had been hopeful of receiving full registration for the product early in 2014. Alvin Rhodes, BASF technical service representative from Madison, Miss., discussed it and Sharpen herbicide during a new products session at the USA Rice Outlook Conference in St. Louis in December.“Over the last few years, resistance has developed where they cannot use any other compound, but Sercadis has done an excellent job of controlling this sheath blight,” he said. “Sercadis can control not only the resistant but also the non-resistant. Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
In 2014, it should be labeled in all rice-growing states for control of rhizoctonia solani or sheath blight.”Sheath blight is a disease that seems to occur annually in southern rice fields or as aerial web blight in soybeans.“Sercadis should be applied early, more as a preventative treatment, at the rate of 6 to 6.8 fluid ounces per acre and applied by air at seven to 10 gallons of water per acre for control of sheath blight,” said Rhodes.“Xemium is part of a compound known as Priaxor, which is a pre-mix of Xemium plus Headline, and it does an excellent job of providing broad spectrum disease control and for plant health benefits on soybeans and corn.”The use of Sercadis at the higher rate in 2013 made the product much more effective, Groth said. The previous rate of 4.5 ounces per acre was increased to the higher rate. Application is normally most effective when applied around the boot stage of rice.“The consultants I talked with liked it,” Groth said. “They thought the rice looked like fields sprayed with Quadris when it first came out.”Groth said he is testing several new fungicides that may be available in two to three years. “There’s potential we will have resistance to Sercadis in five to six years,” he said. “If we have another product we could rotate with Sercadis, that would be the ideal situation.”Fungicides have been used on rice since 1977, Groth said. Sheath blight in rice became a problem as more rice farmers started growing soybeans in rotation with rice, and the beans were also susceptible to the sheath blight pathogen which causes aerial blight. Before that, farmers rotated rice with pasture for cattle.Much of Groth’s research has been accomplished with check-off money paid by farmers based on 5 cents for every 100 pounds of rice sold.“Without this funding resource, the disease research could not have been done,” Groth said. “Getting a product like Sercadis approved by the EPA requires support from scientific data that our research provided.” “These check-off dollars are well spent on the hard work by our staff at the station,” said Steve Linscombe, resident director at the Rice Research Station. “I’ve had many farmers tell me they would no longer be in business if it weren’t for our research, and much of that work could not be done without the check-off funds.” APEDA asked to file amended GI application: BGA-Pakistan opposes call for including Madhya Pradesh in Basmati growing area February 25, 2014 ZAHID BAIG India's Geographical Indications (GI) Registry has directed the Agricultural and Processed Food Products Export Development Authority (APEDA) to file an amended GI application to include the central Indian state Madhya Pradesh as a Basmati growing area, a move that is being opposed by the Basmati Growers Association (BGA) of Pakistan. In its application, APEDA had sought to cover the whole of the northern states of Punjab, Haryana, Delhi, Himachal Pradesh, ttarakhand, and parts of Uttar Pradesh and occupied Jammu & Kashmir as Basmati growing areas. However, the Madhya Pradesh state government, Basmati rice farmers of the state and some private traders wanted Madhya Pradesh to be included in the area of Basmati GI. BGA President Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
Chaudhry Hamid Malhi told Business Recorder on Monday that APEDA had spent over Rs 7.6 crore (around $1.2 million) on litigations on Basmati and there are still over 200 pending litigations in 50 jurisdictions worldwide. A GI label certifies the geographical origin of a product and confirms adherence to some production standards. It also prevents producers who are not covered by the tag from using the same. India has become the largest producer and exporter of Basmati rice by already expanding the area beyond the Basmati producing districts of Kashmir, Punjab, Haryana, Himachal Pradesh, Delhi states. This aspect of APEDAs application No145 filed with the GI Registry of Chennai in 2008 for registration of Basmati as a GI, has already been opposed by BGA of Pakistan, Malhi added. He alleged that the Indian GI Registry rejected BGAs opposition on frivolous grounds on 31-12-2013 and an appeal against the order of the Assistant Registrar is also being filed with the Intellectual Property Appeal Board (IPAB) of India by BGA. Unfortunately, no other association concerned has cared to object to this Indian move, which has led to depriving Pakistan of its rightful share in the international market of Basmati rice. Basmati Rice is currently selling at around $1400 per ton which is nearly three times the price of non-Basmati rice in the world market, Malhi regretted. The indiscriminate expansion of area of Basmati production in India has adversely effected the exports of Basmati from Pakistan, which have reduced by half from 1.2 million tons a few years ago to 0.63 million tons in 2012-13 while India's Basmati rice exports are forecast to reach around 4 million tons in FY 2013-14 (AprilMarch), up about 12.5 per cent from around 3.5 million tons in FY 2012-13. This has negatively affected the returns to Basmati growers, Malhi said and added that the federal government institutions like TDAP are oblivious of this fall in Basmati exports and have not initiated any steps to reverse the trend while the country suffers from an ever increasing trade deficit. If we observe the trend of Basmati exports, Malhi maintained, in 1991 India exported 0.23 million tons and earned Rs 2.94 billion whereas the earnings rose to Rs 10.57 billion in 2010-2011 by exporting 2.18 million tons. In FY 2012-13, India exported around 3.46 million tons of Basmati rice valued at about $3.56 billion, which are forecast to reach around four million tons in FY 2013-14. This became possible only because of increase in production due to the wrongly expanded Basmati area in India, BGA Pakistan President Hamid Malhi concluded. The macroeconomics of rice-pledging programme Dr Medhi Krongkaew February 26, 2014 1:00 am The National Rice Policy Committee of Thailand, in its meeting of January 20, decided to discontinue its rice mortgage (or rice-pledging) policy when the current programme for the second crop of the 2013-14 rice season ends this month.Right to the very end, the government failed to admit that this was a failed policy. Instead, it said it had been discontinued because, as a caretaker government, it had no authority to continue it. It is really a great puzzlement why this government is so adamant in pursuing this rice-mortgage policy.Most economists have come out in force to advise against a policy where the government decided to buy "every grain" of paddy at a price roughly 50 per cent higher than the market price. Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
Even a top economic adviser of the government, Dr Virabongse Ramangura, warned that this was a policy that could sink the government. Two years on, the government is still unable to sell a reasonable amount of its huge rice stockpile abroad.Why is the government unable to sell its rice abroad? The microeconomic answer to this question is easy: The price of Thai rice is too high; the supply of rice in other countries is large; and consumer demand in the world market (with respect to Thai rice) is quite elastic. On the main price factor, statistics from the Thai Rice Exporters Association early this year showed that the prices of Thai rice were higher than those of its main competitors (Vietnam, India and Pakistan) across the board.For example, the Thai price of 5 per cent white rice is about 10 per cent higher than Indian rice, and 13.4 per cent higher than Vietnamese and Pakistani rice. This has translated into a macroeconomic picture of the worsening export performance of Thai rice.Table 1 shows that the total volume of Thai rice exports increased from 8.593 million tonnes in 2009 to 10.666 million tonnes in 2011, but dropped precipitously to 6.955 million tonnes in 2012. The value of rice exports also declined likewise. The declining trend continued in 2013 in volume as well as in value. It is estimated that the government's rice stockpile in the beginning of 2014 was about 18 million tonnes of milled rice, which is about half of the total world trade in rice.This enormous fall in rice-export earnings is just one small aspect of Thailand's socio-economic woes. The government is currently unable to pay Thai farmers for their rice taken in the last two quarters. The amount owed by the government at the beginning of this year was estimated to be more than Bt130 billion.As the caretaker government of Prime Minister Yingluck Shinawatra could not do anything to help these farmers (such as borrow more money and/or sell rice at a big loss), perhaps she can help by resigning from office so that a new government can come in to provide emergency assistance right away.Dr Medhi Krongkaew is professor of economics, School of Development Economics, National Institute of Development Administration, and a former member of the National Anti-Corruption Commission of Thailand. Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
Thailand’s rice mountain offers grain of hope to neighbours By Emiko Terazono in London The Dubai-based hub is expected to reach a capacity of 100,000 tonnes of basmati rice this year.“The store of rice in your attic is your enemy,” goes the Thai proverb. “It makes them who have none very jealous. ”The first half rings true for Thailand’s beleaguered government: its populist rice purchasing scheme which has led to mountains of grain it has struggled to sell has indeed proved to be its enemy. But rather than a source of envy, the country’s stockpile of fragrant rice and the policy behind it have been a boon for its rivals such as India and Vietnam, which have grabbed market share from the country that has long prided itself as the leading international exporter.The government’s pledge to buy rice from farmers at 40-50 per cent above market price pushed up the price of Thai rice and made it uncompetitive in the global market. It has led to ballooning losses for the state, costing it at least $4bn a year and triggering criticism from the International Monetary Fund as well as voters.The country’s caretaker administration this month said it would suspend the annual scheme at the end of February when the programme expires due to limited budgetary powers. However, unless Thailand abandons or reforms the pledging programme, analysts say it will not regain the top spot in the global market. “For over 30 years we have been the world’s champions [of the rice market],” says Vichai Sriprasert, chief executive of Riceland International, a leading Thai rice exporter. The government’s scheme has distorted the market and “the buyers abroad feel that Thai prices are out of line”, he laments.The government under prime minister Yingluck Shinawatra is now scrambling to sell its rice stockpile and pay money owed to farmers under the purchasing programme. Analysts say that even with lower prices, Bangkok may struggle to sell its rice given concerns about its quality and age. While Bangkok earlier this month sold about 1m tonnes through a domestic tender, “this may have just shifted rice from one Thai warehouse to another and hasn’t hit the international markets”, says Darren Cooper, rice Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
analyst at the International Grains Council in London.Some of the rice held in state warehouses is old, and because the government’s intervention scheme does not encourage farmers to sell good quality rice, there are concerns about the quality levels of the rice to start with, he adds. Bangkok has already suffered setbacks in its government-to-government rice deals. Earlier this month Bangkok said China had scrapped an agreement to buy 1.2m tonnes of Thai rice due to a corruption probe into the purchasing scheme. Iraq, meanwhile, said it would not buy Thai rice due to quality concerns. The state inventories could total between 10m to 15m tonnes, just under half the world’s total trade value in rice. “They are better off dumping the rice in the sea,” says one rice expert.Vietnamese rice prices – used as an international benchmark – have eased but have not fallen to last year’s lows when fears of Bangkok’s stockpile disposal initially surfaced. India is now the top supplier for sub-Saharan Africa, a large rice importer, as well as the Middle East, while China, a traditional buyer of Thai rice, has been buying from Pakistan and Vietnam, according to IGC.A disrupted general election at the start of this month has left a vacuum in Bangkok, and amid allegations of corruption surrounding the recent tenders, rice traders expect confusion and chaos to reign until some sort of political leadership takes hold. Concepción Calpe, senior rice analyst at the UN Food and Agriculture Organization in Rome, says it will take time and effort to regain the market share that the country has built through quality control and nurturing relationships.She says any new government should abandon the purchasing programme. “It’s always very dangerous when you deal with market prices,” she says, adding: “The way to support the farmers is not through higher prices.”Kalpesh Patel, head of rice at Export Trading Group, a commodities trading house in Tanzania, believes Thailand could come back as the leader in international rice markets as long as its domestic policies are right.“The market likes Thai rice. China, Indonesia and Iraq, they will come back as soon this situation is resolved. [Thailand] will come back in two to three years” Additional reporting by Panvadee Uraisin in Bangkok Cabinet approves allotment from emergency fund to aid rice pledging scheme Wednesday, 26 February 2014 By MCOT BANGKOK, 25 February 2014 The Cabinet has given the green light to the allocation of 20 billion baht from the annual emergency budget in an effort to rescue the cash-strapped rice pledging program and pay farmers for their pledged rice. According to Deputy Prime Minister and Commerce Minister Niwatthamrong Boonsongpaisarn, the Cabinet today made a resolution to allow the government to acquire an amount of 20 billion baht from the emergency fund of the 2014 budget. The amount is to be used in the reimbursement of rice farmers whose crops were entered into the rice mortgage scheme earlier.Mr Niwatthamrong noted, however, that the Cabinet resolution Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
would need approval from the Election Commission. Once approved, he said the amount would be allocated to the Bank for Agriculture and Agricultural Cooperatives (BAAC) immediately in order to proceed with the payment to farmers without further delay.The Deputy Prime Minister also assured that when the government receives money from sales of its stockpiled rice, coupled with loans currently being sought by the Finance Ministry, the 20 billion baht would be promptly repaid to the Bureau of the Budget.In the meantime, Mr Niwatthamrong reported that he had been contacted by the Chinese Ambassador to Thailand regarding China’s wish to buy one million tons of Thai rice annually. He said a government-to-government (G2G) contract was expected to be drawn up within the next 2-3 weeks. IMD forecast on Monsoon by mid-April, says Pawar El Nino may not affect foodgrain output; Govt prepares contingency plan for 449 districts New Delhi, February 26: Agriculture Minister Sharad Pawar on Wednesday said that it was too early to predict how the Monsoon will behave this year and any emergence of El Nino is unlikely to affect the country’s foodgrain output next season starting July.“It is too early to say. I had discussions with the officials of the Indian Meteorological Department. They are seriously concentrating on this and said they will be able to come out with Monsoon forecast in the second week of April,” Pawar told reporters on sidelines of Kharif 2014 Conference. El Nino, caused by rising surface temperature in the Pacific Ocean, leads to drought in the Asia-Pacific region, particularly India. The Australian Bureau of Meteorology recently forecast the emergence of El Nino this year.“We had seen this type of situation in 2009. It will not be as severe as to affect foodgrain production. We are keeping a close watch,” Pawar said.With prediction pointing to a likely occurrence of the El Nino, the Agriculture Department has started preparing contingency plans to meet any possible dry spell. “The contingency plans for 449 districts in about 23 States have already been prepared,” said JS Sandhu, Agriculture Commissioner. Besides procuring seeds of short duration varieties of various crops, the Government is also asking States to promote the concept of raising community nurseries of rice to deal with the situation. Citing the forecasts made by various weather agencies, Sandhu asked the agriculture department officials of all States to be prepared for poor rains this year. Earlier addressing the Kharif 2014 conference, Pawar said that the country was likely to surpass the agriculture growth target of 4 per cent during the 12th Plan ending 2017.The country is expected to harvest a record foodgrain output of 263.2 million tonnes in the current season to June. Expressing Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
concern that the country’s agriculture was still monsoon-dependent, Pawar called upon the farm scientists to develop stress- and drought-resistant varieties. (This article was published on February 26, 2014) Ivory Coast eyes rice self-sufficiency with foreign firms' help Tue Feb 25, 2014 1:09pm EST * Louis Dreyfus already signed up for investment * Move to diversify from cocoa * Demand rises: average citizen eats 63 kilos rice a year By Gus Trompiz PARIS, Feb 25 (Reuters) - Ivory Coast aims to end its reliance on imports and become self-sufficient in rice within three years by using foreign firms to drive a jump in output, officials said on Tuesday.The ambitious plan is part of a $4 billion investment programme in agriculture to 2016 that calls for 2.4 million new jobs, diversification beyond the dominant cocoa sector and greater domestic processing of commodities.Africa's dependence on rice imports became marked during a global surge in agricultural commodity prices in 20072008 that fuelled protests in some countries."What has changed since the crisis of 2007-2008 is the consciousness among African countries that we should exploit our natural potential," Ivory Coast Agriculture Minister Mamadou Sangofowa Coulibaly told reporters at the annual Paris farm show. "In Ivory Coast, we're talking about 63 kilos per inhabitant per year, it's considerable," he said of rice consumption.The country is pinning its hopes on foreign companies, like trading giant Louis Dreyfus Commodities, with which it has signed agreements under which the firms will oversee rice output and marketing in 10 production zones.Alongside Louis Dreyfus, which unveiled a year ago plans to invest up to $62 million jointly with the Ivorian government in raising rise output, the authorities have signed investment agreements with foreign firms including Cevital, Export Trading Group and Ameropa, said Yacouba Dembele, head of the Ivorian rice office.To meet annual demand of around 1.5 million tonnes from an Ivorian population of 24 million, the government plans to raise milled rice output to 1.9 million tonnes in 2016, opening the possibility the country could become a rice exporter, he said. Ivory Coast has in recent years imported as much as 1 million tonnes annually.The foreign companies would expand milling capacity and coordinate marketing of local production, he said, noting that a rise in paddy rice output last year on the back of new seed varieties had strained processing capacity.Provisional estimates for 2013 already showed that domestic output rose to just over 1 million tonnes while imports fell to 800,000 tonnes, he said.Rising rice consumption would mean meeting demand would be challenging enough without also attempting exports, he said."Demand in 2016 could be above the 1.9 million tonnes we are aiming for. We have to move faster." (Editing by William Hardy) Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
Improved white ponni rice variety Ponni variety has been popular among Tamil Nadu famers for a long time but the origin and source from which it was developed is still not known. The variety is resistant to leaf yellowing (tungro virus), blast and bacterial blight diseases. Though the grain yield is less (4 - 4.5 tonnes from a hectare) than other commercial varieties, farmers preferred this variety owing to its fine quality and premium price in the market. Former name Initially, called “mashuri kuttai” the yield realised by farmers was very low due to admixtures and segregated population with the variations in crop duration ranging from 90 to 140 days.Plant breeders at Tamil Nadu Rice Research Institute (TRRI), Aduthurai had collected 300 samples of seeds, from various locations in state, screened and finally selected three improved lines for further selection. After strenuous efforts the new improved white ponni was released in 1986 and even today finds ready acceptance from farmers. It is a 130-135 duration varirty and suitable for late samba/thaladi season in Cauvery delta. The improved variety was tested in 11 districts of which in eight districts it recorded higher yield of 5.8 per cent than IR 20 variety. Yield It recorded 300 kg/ha more yield than traditional ponni and has yield potential up to 7.4 tonnes per hectare. It is suitable for raw and parboiled rice consumption.Besides excellent grain quality, other special features include its resistance to many diseases such as tungro virus, leaf yellowing, blast and bacterial leaf blight.It grows tall and well under restricted fertilizer use especially nitrogen application which should be limited to 75-100 tonnes per hectare depending upon the soil fertility and climate. Organic farmers mostly prefer this variety as it responds well under natural nutrients supply. (Dr. R. Rajendran is presently Director- in- charge,Tamil Nadu Rice Research Institute, TNAU, Aduthurai – 612 101, Tamil Nadu, Phone: 0435-2472108 and 2472098, email: firstname.lastname@example.org) Keywords: ponni rice, tungro virus, grain yield, mashuri kuttai, Tamil Nadu Rice Research Institute, grain quality Nagpur Foodgrain Prices Open- Feb 26 Wed Feb 26, 2014 3:36pm IST Nagpur, Feb 26 (Reuters) - Gram and tuar prices in Nagpur Agriculture Produce and Marketing Committee (APMC) reported higher on renewed demand from local millers amid weak supply from producing belts because of unseasonal rains. Sharp rise on NCDEX, upward trend in Madhya Pradesh pulses and reported demand from South-based millers also boosted prices, according to sources. * * * * Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
FOODGRAINS & PULSES GRAM * Gram varieties ruled steady on subdued demand from local traders amid ample stock in ready position. TUAR * Tuar gavarani moved down in open market in absence of buyers amid high moisture content arrival. * Watana green reported strong in open market on good festival season demand from local traders amid tight supply from producing regions because of unseasonal rains. * In Akola, Tuar - 3,700-3,900, Tuar dal - 5,900-6,100, Udid at 6,000-6,300, Udid Mogar (clean) - 7,000-6,200, Moong - 8,100-8,300, Moong Mogar (clean) 9,500-9,700, Gram - 2,600-2,700, Gram Super best bold - 3,300-3,500 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 2,600-2,850 2,500-2,800 Gram Pink Auction n.a. 2,100-2,600 Tuar Auction 3,570-3,900 3,570-3,900 Moong Auction n.a. 6,100-6,300 Udid Auction n.a. 4,300-4,500 Masoor Auction n.a. 2,600-2,800 Gram Super Best Bold 3,750-3,900 3,750-3,900 Gram Super Best n.a. Gram Medium Best 3,200-3,400 3,200-3,400 Gram Dal Medium n.a. n.a. Gram Mill Quality 3,200-3,250 3,200-3,350 Desi gram Raw 2,800-2,850 2,800-2,850 Gram Filter new 3,000-3,500 3,000-3,500 Gram Kabuli 7,900-10,300 7,900-10,300 Gram Pink 7,700-8,100 7,700-8,100 Tuar Fataka Best 6,300-6,500 6,300-6,500 Tuar Fataka Medium 6,000-6,100 6,000-6,100 Tuar Dal Best Phod 5,800-6,000 5,800-6,000 Tuar Dal Medium phod 5,500-5,700 5,500-5,700 Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
Tuar Gavarani 4,000-4,100 4,050-4,100 Tuar Karnataka 4,200-4,300 4,200-4,300 Tuar Black 7,200-7,400 7,200-7,400 Masoor dal best 5,400-5,500 5,400-5,500 Masoor dal medium 5,100-5,300 5,100-5,300 Masoor n.a. n.a. Moong Mogar bold 9,700-9,950 9,700-9,950 Moong Mogar Medium best 9,300-9,500 9,300-9,500 Moong dal super best 8,500-8,800 8,500-8,800 Moong dal Chilka 7,900-8,200 7,900-8,200 Moong Mill quality n.a. n.a. Moong Chamki best 8,200-8,700 8,200-8,700 Udid Mogar Super best (100 INR/KG) 7,400-7,600 7,400-7,600 Udid Mogar Medium (100 INR/KG) 5,800-6,600 5,800-6,600 Udid Dal Black (100 INR/KG) 4,700-5,000 4,700-5,000 Batri dal (100 INR/KG) 4,000-5,000 4,000-5,000 Lakhodi dal (100 INR/kg) 3,100-3,200 3,100-3,200 Watana Dal (100 INR/KG) 3,300-3,400 3,300-3,400 Watana White (100 INR/KG) 3,300-3,400 3,300-3,400 Watana Green Best (100 INR/KG) 4,400-4,700 4,300-4,600 Wheat 308 (100 INR/KG) 1,700-1,800 1,700-1,800 Wheat Mill quality(100 INR/KG) 1,840-1,890 1,840-1,890 Wheat Filter (100 INR/KG) 1,650-1,850 1,650-1,850 Wheat Lokwan best (100 INR/KG) 2,400-2,500 2,400-2,500 Wheat Lokwan medium (100 INR/KG) 2,000-2,200 2,050-2,200 Lokwan Hath Binar (100 INR/KG) n.a. n.a. MP Sharbati Best (100 INR/KG) 3,000-3,600 3,000-3,600 MP Sharbati Medium (100 INR/KG) 2,400-2,900 2,400-2,900 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) 2,600-2,950 2,600-2,950 Rice BPT old (100 INR/KG) 2,800-3,300 2,800-3,300 Rice Parmal (100 INR/KG) 1,700-1,850 1,700-1,850 Rice Swarna old (100 INR/KG) 2,500-2,750 2,500-2,750 Rice Swarna new (100 INR/KG) 2,300-2,450 2,300-2,450 Rice HMT new (100 INR/KG) 3,800-4,200 3,800-4,200 Rice HMT Shriram (100 INR/KG) 4,700-5,200 4,700-5,200 Rice Basmati best (100 INR/KG) 11,000-13,500 11,000-13,500 Rice Basmati Medium (100 INR/KG) 6,300-7,600 6,300-7,600 Rice Chinnor (100 INR/KG) 5,500-6,000 5,500-6,000 Rice Chinnor new (100 INR/KG) 5,200-5,600 5,200-5,600 Jowar Gavarani (100 INR/KG) 1,400-1,600 1,400-1,600 Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section email@example.com Cell # 92 321 369 2874
Jowar CH-5 (100 INR/KG) 1,700-1,800 1,700-1,800 WEATHER (NAGPUR) Maximum temp. 32.0 degree Celsius (89.0 degree Fahrenheit), minimum temp. 18.0 degree Celsius (64.4 degree Fahrenheit) Humidity: Highest - n.a., lowest - n.a. Rainfall : nil FORECAST: Partly cloudy sky. Rains or thunder shower likely to occur in evening or night. Maximum and Minimum temperature likely to be around 30 and 18 degree Celsius respectively. Note: n.a.--not available (For oils, transport costs are excluded from plant delivery prices, but included in market prices.) B20bn approved for pledging EC nod needed for govt to use money Published: 26 Feb 2014 at 01.01 Newspaper section: News The cabinet has approved the disbursement of 20 billion baht from the central budget to pay farmers their long-overdue ricepledging debts. Rice farmers gather outside the air force base at Don Muang to demand money owed to them under the ricepledging scheme from caretaker Prime Minister Yingluck Shinawatra. They turned up at the entrance after learning that Ms Yingluck was having a cabinet meeting there and was due to fly to the North for an inspection tour. Pa ttanapong Hirunard.The budget request was proposed by the National Rice Policy Committee at the caretaker cabinet meeting yesterday.The caretaker government now is required to seek an endorsement from the Election Commission before it can use the money from the budget.Caretaker Deputy Prime Minister and Commerce Minister Niwatthamrong Boonsongphaisan said the Finance Ministry has yet to borrow from commercial banks or issue bonds to release funds to pay farmers.Mr Niwatthamrong said the ministry expects the plans would take about two months to proceed, so the ministry needed to take money from the central budget to pay farmers.The Bank for Agriculture and Agricultural Co-operatives (BAAC) had requested 47.89 billion baht in support from the government for payments under the rice-pledging scheme, but the Finance Ministry asked the cabinet to approve only 20 billion baht. The total central budget for 2014 is 72 billion baht. Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
The BAAC told the cabinet that farmers have pledged 10.97 million tonnes of paddy during the 2013/2014 main crop (October last year until Feb 16) worth 181.25 billion baht.The bank has paid 65.42 billion baht to 517,462 farmers for 4.05 million tonnes of pledged paddy while 115.83 billion baht remains unpaid to 875,900 farmers for 6.7 million tonnes of pledged rice.Mr Niwatthamrong said the Commerce Ministry expected to gain about 8 billion baht a month from selling the rice stocks, which means that by next month they expect to have 16 billion baht, giving the ministry 36 billion baht which will enable them to pay the farmers their funds between February and March.This is before the Finance Ministry plans to issue bonds worth around 100 billion baht.Meanwhile, the EC yesterday also announced approval for the caretaker government to disburse 712 million baht from the budget to pay rice-pledging debts to farmers in five provinces for the 2012/2013 main crop. The sum was earlier approved by the cabinet. Caretaker Deputy Finance Minister Thanusak Lekuthai said the BAAC board will meet tomorrow to find solutions to help unpaid farmers.Meanwhile, about 200 rice farmers who had gathered at the Commerce Ministry moved to the entrance of the Royal Thai Air Force headquarters in Don Muang district yesterday to hear the outcome of the cabinet meeting on rice pledging money.Caretaker Prime Minister Yingluck Shinawatra chaired the meeting at the headquarters.A small clash took place between the farmers and police outside the base when police blocked the farmers from entering.One farmer was slightly injured. The farmers then returned to their rally site at the Commerce Ministry.In another development, NACC member Wicha Mahakhun said the inquiry panel is proceeding with the case of alleged corruption against the Abhisit Vejjajiva government, but it involves gathering many documents. The move was in response to Ms Yingluck’s earlier complaint that the NACC’s investigation on alleged corruption cases in the Abhisit government had made no progress, including a claim concerning the release of rice stockpiles in 2009 during the tenure of then commerce minister Porntiva Nakasai.Ms Yingluck feels that is in direct contrast to the case against her in which the NACC took less than a month to start.However, many documents could not be found because state agencies such as the Foreign Trade Department, Public Warehouse Organisation, and Marketing Organisation for Farmers failed to provide them.They say they do not keep the documents, or the documents were lost during the flood in 2011. Image: Rice farmers gather outside the air force base at Don Muang to demand money owed to them under the rice-pledging scheme from caretaker Prime Minister Yingluck Shinawatra. They turned up at the entrance after learning that Ms Yingluck was having a cabinet meeting there and was due to fly to the North for an inspection tour. Pa ttanapong Hirunard For Advertising SPECS & RATES Contact: Advertising Department Mujahid Ali email@example.com +92 321 369 2874 Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.com News and R&D Section firstname.lastname@example.org Cell # 92 321 369 2874
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