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18th June (Thursday), 2015 Daily Global Rice E-Newsletter by Riceplus Magazine
18th June (Thursday), 2015 Daily Global Rice E-Newsletter by Riceplus Magazine
June 18 ,2015
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Workers stand near palm oil fruits inside a palm oil factory in Sepang, outside Kuala Lumpur, February 18, 2014.
REUTERS/SAMSUL SAID
- The warnings of a strong El Nino weather phenomenon have been ramped up in recent weeks,
but some Asian agricultural prices have yet to fully price in the looming drought.The
meteorological agencies of the United States, Japan and Australia have all upped their forecasts
for the strength and duration of the El Nino effect, which is caused by rising sea-surface
temperatures in the Pacific Ocean.El Nino brings drier conditions to Southeast Asia, India and
Australia, and a severe event can hurt output of agricultural commodities, such as palm oil, rice,
rubber, wheat and cotton.In contrast, El Nino, the Spanish word for small boy, brings wetter
weather to the Americas and sometimes to North Asia.
There is an 85 percent likelihood that the El Nino weather pattern that's currently developing will
likely last into 2016, the Climate Prediction Center, an agency of the U.S. National Weather
Service, said on June 11.Previously the agency had said there was an 80 percent chance that El
Nino would last through 2015.The Japan Meteorological Agency said on June 10 that the El
Nino was strengthening and was likely to reach intensity levels seen in 2009, which caused
widespread damage to crops in Asia and Australia and caused food prices to surge.Australia's
Bureau of Meteorology said on June 9 that Pacific ocean temperatures are continuing to warm,
and that El Nino conditions are already at "moderate" levels and expected to persist through
2015.
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So far, the reaction in several Asian commodity markets to the consensus of forecasters that the
El Nino risks are rising has been muted.It's true that prices of many commodities are at, or near,
cyclical lows and past experience has shown that they only tend to move higher once it's
virtually certain that output will be cut by a weather event.The experience of 2012 and 2014,
when an El Nino was forecast but didn't materialize in any significant way, has also likely made
traders and investors somewhat more cautious.But it's worth bearing in mind that palm oil prices
leapt 57 percent in 2009, partly due to the El Nino that year.Malaysian palm oil futures have
been remarkably stable so far this year, up about 1 percent from the 2,266 ringgit per tonne at the
end of last year. The contract is, however, down around 5 percent in U.S. dollar terms this
year.The tropical oil has been losing ground against rival soy oil, with Chicago futures gaining
2.1 percent from the start of the year to Wednesday's close.
EL NINO TO NARROW PALM, SOY OIL GAP
Converting both contracts into U.S. dollars per tonne showed soyoil prices were $117 a tonne
above palm on Wednesday, up from $66 at the end of last year.In the last major El Nino event in
2009, the gap between the two contracts narrowed sharply once the full impact of the weather
event hit production by the end of 2010.At the start of 2009, soy oil commanded a $257 premium
over palm oil, but this narrowed to $41 by the end of 2010.Although the gap between the two is
currently not as wide as it was at the start of 2009, history does suggest there is scope for it to
narrow over the medium term if this El Nino is as bad as forecasters predict.
The palm oil futures curve <0#1FCPO:> shows it has moved into a mild contango from being
flat three months ago, with the 12-month contract trading 6.6 percent above the three-month on
Thursday.Rice is another major Asian commodity that could be affected by a strong El Nino,
with output likely to drop.However, the rice market is still trying to digest the massive overhang
of stocks built up in Thailand during the government buying program of Yingluck Shinawatra,
the prime minister removed last year by the military partly as a result of the scheme's vast cost
and lack of success.
Thai benchmark 5-percent broken white rice dropped to $365-$368 a tonne on Wednesday, the
lowest since January 2008.With ample rice stocks and low prices it may be tempting for
governments in importing countries such as the Philippines and Indonesia to boost reserves in
case a severe El Nino does materialize.But similar to palm oil, rice prices are likely to rise only
once it becomes clearer that output is going to decline because of El Nino.
(Clyde Russell is a Reuters columnist. The views expressed are his own)
(Editing by Himani Sarkar)
http://www.reuters.com/article/2015/06/18/us-column-russell-agriculture-asiaidUSKBN0OY12M20150618?utm_source=USA+Rice+Daily%2C+June+19%2C+2015&utm_campaign
=Friday%2C+December+13%2C+2013&utm_medium=email
http://in.reuters.com/article/2015/06/19/nagpur-foodgrain-idINL3N0Z537Q20150619
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VENKATARAMANA RAO
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FOODGRAINS
Available prices Previous close
Gram Auction
3,600-4,510
3,570-4,400
Gram Pink Auction
n.a.
2,100-2,600
Tuar Auction
6,350-7,100
6,300-7,100
Moong Auction
n.a.
6,000-6,300
Udid Auction
n.a.
4,300-4,500
Masoor Auction
n.a.
2,600-2,800
Gram Super Best Bold
5,800-6,000
5,800-6,000
Gram Super Best
n.a.
Gram Medium Best
5,500-5,600
5,500-5,600
Gram Dal Medium
n.a.
n.a.
Gram Mill Quality
5,100-5,300
5,100-5,300
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THE Philippines has agreed to pay Vietnam close to $1 million more as the National Food
Authority (NFA) scrambles to fill up its buffer rice stock requirement two weeks ahead of the
lean season.During a special meeting on June 17, the interagency NFA Council has accepted
Vietnams revised offer of $416.85 per metric ton (MT) for 100,000 metric tons of rice, the staterun grains agency said in a statement.The offer was above the $408.14 per MT ceiling set by the
Philippine government.Earlier, he NFA Committee on GovernmenttoGovernment Procurement
(CGGP) rejected initial offers from Cambodia, Thailand, and Vietnam, which were way above
the reference price for 100,000 MT of wellmilled, long grain white rice25 percent broken.
Thailand offered $418 per MT, Vietnam offered $417, and Cambodia offered $464.During the
second round, Thailand backed out of the bidding, saying that the Philippine governments
reference price was too low compared with the average price prevailing in the world
market.Cambodia offered 50,000 MT at $455.50 per MT, while Vietnam offered 100,000 MT at
$416.85 per MT both offers were beyond the ceiling set by the NFA Council.The situation
compelled the CGGP to call on the NFA Council for a decision.
The NFA Council is chaired by Secretary Francis N. Pangilinan of the Office of the Presidential
Assistant for Food Security and Agricultural Modernization, with the Bangko Sentral ng
Pilipinas, Development Bank of the Philippines, Land Bank of the Philippines, Department of
Finance, Department of Trade and Industry, National Economic Development Authority, NFA
and a farmers representative as members.The council awarded the contract to Vietnam, citing
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that under the terms of reference of the G2G importation, in the event that revised offers are
submitted, these shall be evaluated on the basis of the lowest price.The 100,000 MT of rice is
part of the 250,000 MT that the NFA Council approved to buy under the recommendation of the
Food Security Committee to head off the lean season when the supply of rice is traditionally low
and prices are high.
The shipment is expected to arrive in the country on August 15.NFA Administrator Renan
Dalisay said the weighted average price for the 250,000 MT was $412.81 per MT while the
average price for the rejected bids was $455 for Cambodia, $419 (Thailand), and $418
(Vietnam).Taking this bid and comparing it to the average weighted price of $412.81 will show
that we got a good price relative to the initial bid offers, Dalisay said in a text message.The
NFA chief said they are under pressure to make the rice imports available by July 1, the start of
the lean season.
http://www.manilatimes.net/ph-to-buy-higher-priced-rice-from-vietnam/193045/
BANGKOK, 17 June 2015 - The Ministry of Commerce reported that 840,000 tons of rice out of
the 1.06 million tons worth 7.8 billion baht in the government stockpile, were sold in the 3rd
auction.Miss Banjongjit Angsusingh, Deputy Director-General of the Department Foreign Trade,
said 40 out of the 43 qualified business operators made offers this time. She said 107 out of 153
silos of rice had been sold, netting 7.8 billion baht in a 840,000-ton rice deal.The Deputy
Director-General said her department would forward the auction result to the National Rice
Policy Committee before officially announcing it to the public and the bid winner in due course.
http://www.pattayamail.com/business/840-000-tons-of-rice-sold-in-the-3rd-2015-rice-auction48139#sthash.5SMocWDU.dpuf
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10
However, the officials added that local farmers will need to grow a greater volume of
aromatic rice to supply the EU market as local consumption already accounts for most of the
crop.Paw San rice is priced at around 900 U.S. dollars per ton in its export.According to the
MRF, Myanmar targets to export some 200,000 tons of rice to the EU this year against 100,000
tons last year.About 70 percent of Myanmar's rice export go to China with the rest going to EU,
Japan and African markets.EU figures show that export of Myanmar milled rice to Europe
increased 120 percent between September 2014 and April 2015, while broken rice export rose 81
percent during the same period.Myanmar official statistics show that the country's rice export
reached nearly 2 million tons in the fiscal year 2014-15 which ended in March, up 40 percent
from the previous year.
This article was produced by the Xinhua News Agency, the official press agency of the People's Republic
of China. Xinhua describes itself as the "information organ of the central government." Given Chinas
size and importance, GlobalPost publishes Xinhuas press feed as a resource for its readers and makes no
claims as to journalistic accuracy
10
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11
Success Rice sells jasmine and basmati rice in 14-ounce boxes (eight boil-in-bag servings) at
essentially the same per-ounce price as the Uncle Ben's 10-minute products.And there's Minute
Rice jasmine rice in a two-pack of single-serving microwave tubs. Where he found it, it's a little
cheaper than the Uncle Ben's microwave products. But all the microwave rices are much more
expensive per serving than any of the rices that require you to get out a pan. Serving sizes are
inconsistent, but the cost of a serving of one of the microwaved aromatic rices is roughly triple
that of one of the you-boil-it versions.
Minute Rice apparently also sells boil-in-the bag jasmine and basmati rices, but Mr. Tidbit hasn't
found them on the shelf anywhere. Yet.
Star Tribune (Minneapolis)
Product
Price
5975
5375
4375
2658
2292
3044
1878
2150
Apricots
Raisins
Sultanas
Source:agra-net
Market Watch
Commodity-wise, Market-wise Daily Price on 18-06-2015
Domestic Prices
Product
Market Center
Variety
Min Price
Max Price
Dahod (Gujarat)
Other
1200
1300
Kota (Rajasthan)
Other
1101
1200
Other
1111
1185
Dhing (Assam)
Other
1350
1500
Samrala (Punjab)
Other
1025
1150
Amreli (Gujarat)
Other
1555
2000
Aroor (Kerala)
Other
3500
3700
Vikasnagar (Uttrakhand)
Other
2000
2000
Other
2400
2900
Barley (Jau)
Maize
Mousambi
11
Brinjal
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12
Chala (Kerala)
Other
3200
3250
Bargarh (Orissa)
Other
1200
1400
Shillong (Meghalaya)
Other
1600
2000
Source:agra-net
Egg
Rs per 100 No
Price on 18-06-2015
Product
Market Center
Price
Pune
435
Nagapur
410
Namakkal
420
Source: e2necc.com
Product
Market Center
Origin
Variety
Low
High
Onions Dry
Package:50 lb sacks
Atlanta
Baltimore
Dallas
Mexico
Yellow
23
24
California
Yellow
28
28
Texas
Yellow
21
24
Cabbage
Package: 50 lb cartons
Atlanta
Florida
14
14
2
3
Detroit
Texas
13
13.50
Miami
Georgia
12
Apples
14
Package: cartons tray pack
Atlanta
Washington
Red Delicious
24
24
Detroit
Washington
Red Delicious
23.50
26
Miami
Washington
Red Delicious
28
28
Source:USDA
12
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13
products.Minister for Commerce Khurram Dastgir Khan said on Thursday that the GI law would
be enacted for the registration of Pakistani products having unique attributes for recognition at
the international level.
The GI is a concept of international trade which associates a certain product to a specific location
thus identifying its originality and uniqueness. Such an indication to any product distinguishes it
from the rest of same kind thus bringing premium to its price.Dastgir said directions had been
issued to the ministry of commerce to initiate coordination with the concerned stakeholders of
the intellectual property organisation Pakistan, ministry of national food security and research,
concerned provincial departments and private sector. He said the GI law was needed and would
enhance visibility of several Pakistani export items in the international market.The government
has remained under pressure from the basmati growers and exporters since the start of this
millennium to enact the GI law to oust India from the basmati market. However, the commerce
ministry and ministry of agriculture failed to enact the law.
Pakistan possesses several such products which have distinctive attributes through which they
can make a niche in the international market once they are certified as GI. Basmati rice, Chaunsa
mango, Hunza apricot, Peshawari chappal, Sindhi ajrak are among the top Pakistani products
which will get international recognition under the GI law.Experts are of the opinion that if
Pakistan enacts the law then export of Pakistani products like basmati rice and fruits will pick up
in near future which at present are under a lot of pressure from India. Absence of GI law has led
to the failure of investment in the basmati rice processing, especially in Punjab, during the last
decade, even though initially it was projected that the new investment along with GI certification
will open new markets in Middle East, Far East, Europe and North America.
It is important to mention a diplomatic conference in Geneva on May 21, 2015, which adopted
the Geneva Act of the Lisbon Agreement on Appellations of Origin and Geographical
Indications. The Geneva Act allows the international registration of GIs, in addition to
appellations of origin, and permits the accession to the Lisbon Agreement by certain
intergovernmental organisations. The new GI agreement drafted by the World Intellectual
Property Organisation will lead to new era of trade of GI products.
http://www.pakistantoday.com.pk/2015/06/18/business/pakistan-to-draft-gi-law/
|
Updated: Jun 18, 2015 21:36 IST
13
The Punjab Rice Millers Association (PRMA) has warned that if 'corrupt practices' did not stop
in the Food Corporation of India (FCI) during the coming paddy season, then the rice millers
would boycott the milling process and start a state-wide agitation.
The PRMA alleged that the authorities of the FCI were not showing any interest to check
corruption in the procurement system though the Union government has taken it
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14
seriously.Addressing a state-level meeting here on Thursday, Tarsem Saini, state president of the
PRMA, said that there was no doubt that the Union government had formed some best policies
for purchasing and storing of foodgrains, however, at the ground level, the policies are not being
implemented.
He said the FCI had issued a circular that while accepting the custom-milled rice, the authorities
would record the weight of only 10% of the delivery for acceptance and storage of the stock in
the warehouses. "But, the FCI is not willing to record the weight of the whole consignment of
rice even as the computerised weighing machines are available with them at their warehouses,"
said Saini.During the meeting, the rice millers said that now Adesh Partap Singh Kairon,
minister for food and civil supplies, has agreed to allocate and distribute paddy in a uniform way
to the millers by constituting sub-committees at the local level so as to end corruption in the
allotment of paddy quota to the millers.
"Under this concept, we are going to set up special committees at the district level across the
state to check corrupt practices during the period of paddy allocation," he said.Rice millers raised
their voice against the FCI and said that, in most cases, bribe is demanded from millers for
acceptance of the stock and for quality assurance.PRMA leaders said, "FCI authorities also
blackmail rice milers on the pretext of quality checking of the stored rice and by conducting tests
in FCI laboratories. The union government has recently set up the Central Grain Analysis
Laboratory (CGAL) at New Delhi and all the samples of disputed cases must be referred to it and
the report of this laboratory should be considered final."
http://www.hindustantimes.com/bathinda/rice-millers-threaten-agitation-against-corruptpractices-in-fci/article1-1360325.aspx
scientist shows "Golden Rice" (R) and ordinary rice at the International Rice
Research Institute in Los Banos, Laguna south of Manila, August 14, 2013.
14
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15
item a can of soup or a box of cereal, for instance that mistakenly ends up on store shelves.
The law is due to take effect next year.
"Even with the best of intentions, excellent supply chain logistics and herculean efforts, product
will be in the wrong place at any given time, resulting in millions upon millions of dollars in
potential fines," said GMA President Pamela G. Bailey.She estimated more than 100,000 items
sold in the state would require Vermont-specific labels, a companies could quickly amass
millions in fines if only 5 to 10 percent of products slip through.Shumlin had a clear response
Thursday: "Just label your products. All of them nationwide."He said labeling foods with
genetically modified organisms which can include food made from seeds that were originally
engineered in laboratories to have certain traits, like resistance to herbicides is already
required by 64 countries.
"The industry's real concern is that as goes Vermont so will go America," Shumlin said. "Plain
and simple Vermont's law is about giving consumers the right to know what is in their food. For
too long consumers in America have been denied that right."Bailey said members of the
association have determined that changing labels to comply with Vermont's law will cost more
than they earn selling their products in the state."A $10 million per day fine to comply with the
labeling law of the second smallest state in the Union is hugely problematic for an industry that
employs 14 million U.S. workers and represents the largest sector of manufacturing," she said.
15
REUTERS/Mark BlinchA protester holds a sign reading "Ban GMO" (Genetically Modified
Organism) in the "March Against Monsanto" in Toronto, May 24, 2014.A proposal pending in
Congress would block mandatory GMO labeling efforts such as Vermont's and others being
considered by a number of states. The bill, introduced by Rep. Mike Pompeo, R-Kan., provides
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16
for voluntary certification from the U.S. Department of Agriculture.Much of the country's corn
and soybeans are genetically modified, with much of that going to animal feed. GMO corn and
soybeans can also be made into popular processed food ingredients like high-fructose corn syrup
and soybean oil.The Vermont law calls for labeling processed GMO foods and for retailers to
post signs on displays of unpackaged genetically engineered foods. It also sets a civil penalty of
$1,000 per day per product.
Throughout the legislative and legal debate on GMO labeling, industry groups have argued there
is no difference between foods made with GMOs and other foods.The Grocery Association
argues in its federal lawsuit to block the law that the First Amendment gives them broad
discretion about what to include on their labels and that there's no compelling state interest to
offset that.The legal case is pending.Bailey acknowledged in her letter the association is trying to
block the law in court, but until that happens it is working to comply."We would appreciate the
opportunity to work cooperatively with the state to minimize the liability that almost certainly
will arise despite the best efforts of the GMA member companies, as well as others in the
industry," the letter said.
http://www.businessinsider.com/vermonts-gmo-labeling-law-could-cost-grocers-up-to-10-millionper-day-in-fines-2015-6#ixzz3darzblgz
16
Wayne Zaunbrecher
USA Rice is deeply saddened by the passing of longtime
Louisiana rice leader Wayne N. Zaunbrecher, 76, who died on
Wednesday, June 17, 2015. Mr. Zaunbrecher was a rice and
cattle producer who worked with his brother Floyd on the family
farm. He served as treasurer of the Louisiana Rice Promotion
Board and was on the Louisiana Rice Council Board of Directors.
A native of Gueydan, Louisiana, Mr. Zaunbrecher was a loving
husband, father, grandfather and great-grandfather. Survivors
include his wife of 54 years, Linda Guidry Zaunbrecher, who
serves on the USA Rice Producers' Group Board, daughters
Alison and Andrea, and their families. Visitation will be at
Vincent Funeral Home, 311 Fourth Street, Gueydan, Louisiana,
70542. Visiting hours are 1 p.m. to 10 p.m., with a rosary at 7
p.m., on Thursday, June 18, and on Friday, June 19, from 9 a.m.
until funeral services at a 3 p.m. Mass of Christian Burial at St.
Peter the Apostle Roman Catholic Church, 603 Main Street, Gueydan, Louisiana, 70542.
Memorial donations can be made online or by check to the LSU Foundation atlsufoundation.org
or to Vermilion Parish Farm Bureau for a scholarship fund.USA Rice extends heartfelt
condolences to the family and friends of Wayne Zaunbrecher
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17
WASHINGTON, DC -- RFD-TV
announced this week their intention
to produce a series of live, one-hour
televised
town
halls
with
presidential candidates to focus
exclusively on issues important to
the
rural
and
agricultural
communities."When we launched
RFD-TV fifteen years ago we
intended for it to serve the needs of
rural America and to connect rural
and urban audiences," said Patrick
Gottsch, founder and president of
RFD-TV and Rural Radio, at a press conference here. "We're taking a major step towards
reconnecting the rural and urban audiences with these town halls.
"As the divide between rural and urban grows wider each year, and fewer people have an
understanding of where their food comes from, and what it takes to grow it, the sessions could
help bridge an important gap."I grew up on a dairy farm in Wisconsin milking cows, and my
children always had farms to visit. My grandchildren do not have farms to visit," said Orion
Samuelson a famed rural broadcaster who will host and moderate the town halls. "I'm looking
forward to discussing the politics of agriculture with the people who want to be President of the
United States."Gottsch and Samuelson said they see the town halls as an opportunity to educate
candidates on rural issues as well as provide them an opportunity to share their vision with the
engaged, voting rural audience."We're going to send the candidates a list of about 200 questions
that may come up - we want a good dialogue - we're not trying to embarrass anyone," said
Samuelson. "We also hope to have a studio audience providing questions, and email questions
from viewers at home too."
17
Gottsch said he doesn't want to ask any of the questions the urban media ask the candidates, but
rather will focus on issues such as water use, immigration, animal rights, the use of pesticides
and antibiotics in farming, and other vital rural issues."This seems like an excellent opportunity
to spend quality time on very specific, nuts and bolts issues with men and women vying for the
most important job in the world," said Michael Klein, vice president of communications for USA
Rice. "We're going to work with our friends at RFD-TV to try to get some rice specific
questions in front of these candidates.""Rural Town Hall" will be recorded at locations around in
Iowa and at RFD-TV studios in Nashville and will premiere in July on Mondays at 8pm eastern
and Thursdays at 10pm eastern. RFD-TV can be seen on DirecTV (channel 345), DISH
Network (channel 231), and through some other rural cable providers. Check with your system
provider or log on to RFDTV.com for more details.
Contact: Deborah Willenborg (703) 236-1444
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18
Price
Net Change
July 2015
$9.815
+ $0.085
September 2015
$10.065
+ $0.090
November 2015
$10.335
+ $0.085
January 2016
$10.595
+ $0.080
March 2016
$10.800
+ $0.095
May 2016
$10.800
+ $0.095
July 2016
$10.800
+ $0.095
18
Ben McKnight, LSU AgCenter research associate and doctoral student, talks about research with
an aquatic weed herbicide, benzobicyclon, made by Gowan. (Photo by Bruce Schultz, LSU
AgCenter)
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19
Exports of medium-grain rice have dropped by a fourth to a third from last year, and the
medium-grain prices have fallen, Guidry said.The low prices could mean that rice farmers
enrolled in the Price Loss Coverage program in the current farm bill could receive as much as
$93 to $103 per acre, he said.Rice farmers got the chance to hear from Adam Famoso, the new
rice breeder at the Rice Research Station. He was a rice researcher for Dupont Pioneer in Iowa
before joining the LSU AgCenter.I think Adam is going to be a very valuable addition to our
team, Linscombe said.Linscombe said he has a medium-grain Clearfield line in development
that could be accepted by Kellogg's.
He also has 18 lines of the Provisia rice that probably will result in one or two candidates that
could become a variety.He also has a Clearfield long-grain line with the yield potential of CL151
and better resistance to blast and lodging with improved grain quality. The line, LA2134, could
be a release for 2016, and a 20-acre seed increase is being grown now at the Rice Research
Station.AgCenter weed scientist Eric Webster said this year's wet weather has caused problems
with the use of the herbicide Prowl in rice that has been broadcast seeded. The seeding method
doesn't result in uniform seed-to-soil contact and remains in the wet conditions and it develops a
root system slowly.Webster said the rice weed program has 70 trials at the Rice Research Station
and at the LSU AgCenter Northeast Research Station near St. Joseph.
19
Ben McKnight, Webster's research associate and a doctoral student, talked about the use of
benzobicyclon for aquatic weeds. He said the Gowan product is probably the best material
available for ducksalad.AgCenter soybean specialist Ron Levy said the rainy weather has caused
problems for many farmers. But in northeast Louisiana, some fields have required irrigation,
while some soybeans in northwest Louisiana along the Red River have been flooded.Elsewhere,
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20
rainy weather has prevented many farmers from planting soybeans. In southwest Louisiana we
probably have the worst conditions, Levy said.More herbicide-resistant soybeans are becoming
available, he said. They are going to be the future of soybean production.Guidry said soybean
prices have fallen because of a large supply, but demand in China remains high.
http://www.ktbs.com/story/29346132/louisiana-still-has-potential-for-a-good-ricecrop?utm_source=USA+Rice+Daily%2C+June+18%2C+2015&utm_campaign=Friday%2C+December+
13%2C+2013&utm_medium=email
Product
Price
5975
Apricots
1
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5375
4375
2658
2301
3000
3010
1817
2175
Raisins
Sultanas
Source:agra-net
Market Watch
Commodity-wise, Market-wise Daily Price on 17-06-2015
Domestic Prices
Product
Market Center
Variety
Min Price
Max Price
Cachar (Assam)
Other
2000
2500
Bargarh (Orissa)
Other
2400
2500
Saharsa (Bihar)
Other
2100
3400
Dhing (Assam)
Other
1550
1700
Amirgadh (Gujarat)
Other
1300
1625
Bonai (Orissa)
Other
1450
1600
Harippad (Kerala)
Other
2000
2500
Bonai (Orissa)
Other
1000
2000
Other
1600
2000
Aroor (Kerala)
Other
2200
2400
Bolangir (Orissa)
Other
2800
3000
Kharupetia (Assam)
Other
1000
1200
Rice
Wheat
Mango
Cucumbar
Source:agra-net
Egg
Rs per 100 No
Price on 17-06-2015
Product
Market Center
Price
Ahmedabad
404
Mysore
434
Nagapur
410
Source: e2necc.com
Product
Market Center
Origin
Variety
Low
Mexico
Yellow
23
24
California
Yellow
28
28
Onions Dry
High
Package:50 lb sacks
Atlanta
Baltimore
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Dallas
Texas
Yellow
21
Atlanta
Florida
14
14
Detroit
Texas
13
13.50
Miami
Georgia
12
Cabbage
24
Package: 50 lb cartons
Apples
14
Package: cartons tray pack
Atlanta
Washington
Red Delicious
24
24
Detroit
Washington
Red Delicious
23.50
26
Miami
Washington
Red Delicious
28
28
Source:USDA
As a result, 800ml bottle of Rooh-i-Afza and Jam-i-Shireen is being sold at Rs160 as compared
to Rs150 a few days back.Overcharging is also rampant on 1.5 litre bottles as wholesalers are
selling six-bottle pack at Rs1,620 as compared to Rs1,520. Retailers are charging Rs280 for 1.5
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litre bottle as compared to Rs270.Pulses: Moong has further become costlier and is being sold at
Rs180 per kg. Its official rate is Rs132.The official rate of masoor is Rs109, but retailers are
charging Rs140-150 per kg. Mash is selling for Rs180 per kg but its official rate is
Rs132.Traders have expedited pulses imports in view of demand and supply gap in some
items.According to figures of Pakistan Bureau of Statistics (PBS), import of overall pulses
during July-April 2014-15 went up to 525,622 tonnes ($322 million) as compared to 390,742
tonnes ($240 million) in the same period of the last fiscal year.
The official rate of kernal basmati rice is Rs127 per kg but retailers are demanding over Rs140150.The official rates of various varieties of rice vary and there is a difference of Rs20 to 40 in
their prices.The price list has been issued with the consultation of Karachi Wholesalers Grocers
Association, Jodia Bazaar Traders Association, Karachi Retail Grocers Group, Bureau of
Supply and Prices, Consumers Associations and civil society, but a vast gap exists between
official and market rates.Retailers are of the view that if Karachi administration assures supply of
items at officially fixed rates, they would have no problem in demanding official price from
consumers.
Published in Dawn, June 18th, 2015
A: This Rs 50 is good for the farmer but business wise the price of rice will go up. We do a little
non-basmati rice so it will affect our pricing in the international market. We will be expensive by
almost USD 30 and in case international price can afford it then we will definitely ship it.
Whereas on Kohinoor it does not have a large impact because our non-basmati exports are very
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les compared to basmati. Reema: Can you give us the percentage, the contribution on nonbasmati to your revenues? A: Non basmati is almost 7-8 percent in comparison to our basmati
business. Mangalam: We were also taking about rains, the MET department has indicated that
there is an 88 percent probability of lesser rains but in the first 5-6 days of the monsoon it has
said that there has been 13 percent above normal so what do you make of the rains and will there
be an impact on the crops of basmati rice this year?
A: In my view it is not going to affect adversely to the basmati farming because mostly all the
farmers in Punjab, UP, Haryana they have their other arrangements also so in case of any short
rain basmati will not be affected because they are quite competent to face all this droughts. The
rain so far looks normal in our area. In our view it will not affect adversely to our basmati farm.
Reema: Generally not just basmati but the productions of rice this year how much will it be and
you dont expect any shortage or short fall because of the monsoon? A: In my view the overall
production of rice will be perfect and even in basmati rice, it may grow by 5-7 percent but it will
not be down in comparison to the last year. Reema: So last year basmati production you said was
down but this year you are expecting it to be 5-7 percent? A: More than last year and the other
thing is we expect much bigger business in basmati this year also because prices are very
competitive and it is very attractive and lucrative to our customers and they will definitely buy
larger quantities this year comparison to last year.
Mangalam: Were we to see a hike or a rise in Basmati rice prices will go be able to pass it on to
your customers going forward or perhaps you will take a hit on your margins then? A: Basmati
rice price, it is every day game. Every day we buy and every day we sell and the customer is
aware of it. So, the rice is sold only on the regular prices; so it is a regular business nobody will
take the hit neither the customers nor Kohinoor Foods. Why should be take a hit in case our
customer is ready to pay more price. Moreover in branding we always charge some better
margins on it so that it is good for organisation. Reema: The MSP price hike that we are picking
up from our sources at 3.7 percent would that be in line with what the market or industry was
expecting?
A: The costs of the farmers have also gone up and what the government has done is very good.
We have to support our farmers also. In international market the prices will also jump so it will
adjust into the market pricing so adversely it is not going to affect our rice industry. Kohinoor
Foods stock price On June 19, 2015, Kohinoor Foods closed at Rs 43.65, down Rs 0.15, or 0.34
percent. The 52-week high of the share was Rs 63.85 and the 52-week low was Rs 38.80. The
latest book value of the company is Rs 117.06 per share. At current value, the price-to-book
value of the company was 0.37.
http://www.moneycontrol.com/news/business/basmati-production-to-increase-7fy16kohinoor_1510561.html?utm_source=ref_article
24
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