Undedited Version Riceplus Magazine 17 th & 18 th Feb.2014 RICE NEWS http://myanmarburma.biz Bank of Thailand Warns of Rise in Household Debt Due to Delayed Payments to Farmers; Is Government Misleading Public by Saying Banks Have Offered Loans? Log in or register to post comments Print Feb 14, 2014 The Bank of Thailand (BoT) has warned over the possibility of the country's average household debt to rise this year following delays in the government's payments to farmers under the rice pledging scheme, according to local sources. The BoT Spokesperson says the delay in payments is signaling a decline in the household sector's liquidity due to farmers' inability to pay for the accumulated debts. She also hinted at rising interest rates in the coming months. The Caretaker Prime Minister yesterday said that the long-overdue payments related to rice-pledging scheme will begin next week adding that several millions of baht of loans were sanctioned to the government earlier by many small and medium-enterprise banks. But this is surprising as the Krungthai Bank (KTB) clarified that it has not lent any money to the government, but is ready to lend money to rice exporters, traders and millers. According to the Deputy Commerce Minister, the government has borrowed a part of 130 billion (around $4 billion) needed to pay farmers from the state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC). The minister has not disclosed
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Undedited VersionRiceplus Magazine
17th & 18th Feb.2014 RICE NEWS
http://myanmarburma.biz Bank of Thailand Warns of Rise in Household Debt Due to Delayed Payments to Farmers; Is Government Misleading Public by Saying Banks Have Offered Loans?
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Feb 14, 2014
The Bank of Thailand (BoT) has warned over the possibility of the country's average household debt to rise this year following delays in the government's payments to farmers under the rice pledging scheme, according to local sources.The BoT Spokesperson says the delay in payments is signaling a decline in the household sector's liquidity due to farmers' inability to pay for the accumulated debts. She also hinted at rising interest rates in the coming months.The Caretaker Prime Minister yesterday said that the long-overdue payments related to rice-pledging scheme will begin next week adding that several millions of baht of loans were sanctioned to the government earlier by many small and medium-enterprise banks. But this is surprising as the Krungthai Bank (KTB) clarified that it has not lent any money to the government, but is ready to lend money to rice exporters, traders and millers.According to the Deputy Commerce Minister, the government has borrowed a part of 130 billion (around $4 billion) needed to pay farmers from the state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC). The minister has not disclosed the exact amount and the BAAC has also not made any announcements about the loan so far. Local sources say that the government may be making false claims in response to a civil court case filed against the Caretaker government by a group of fifty farmers demanding about 19 million baht (around $582,483) in compensation.The government is trying to sell rice from its stockpile as fast as possible. The auctions of over 600,000 tons of rice this week drew a good response
and the government is planning to offload another 500,000 tons next week. However, local sources say that the prices could be lower than the market prices.Meanwhile, the Deputy Prime Minister and Agriculture and Cooperatives Minister urged rice farmers not to conduct off-season cultivation in February 2014 as the amount of water stored in dams along the Chao Phraya River is insufficient for such a water demanding activity. He stressed that farmers who violated the request would lose their right to participate in the government's next round of rice pledging scheme (if renewed) or any assistance program.Tags: Thailand rice mortgage program, Thailand rice auctions- See more at: http://oryza.com/news/rice-news/bank-thailand-warns-rise-household-debt-due-delayed-payments-farmers-government#sthash.lsHNwZyz.dpuf
Without “Creating Too Much Noise in the Media” Indonesia Trade Minister Hopes to Resolve Rice Import Concerns
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Feb 14, 2014
Indonesia's new Trade Minister has pledged to deal with the alleged non-specialty rice imports from Vietnam as part of his short-term priorities.The minister told local sources that he will provide transparent reports on the matter within the time frame he has; that is up to November 2014 when the government is expected to be dissolved before a new government is formed.The minister says he is working closely with the Finance Minister and the Agriculture Minister and will fix the system if required. "We don’t want to create too much noise in the media. The bottom line is, if the system is wrong, we will fix it. If someone cheats, we will give sanctions,” he says.Earlier this year, reports of import of about 16,000 tons of non-specialty rice from Vietnam by private importers had raised concerns in Indonesia. Indonesian law allows private companies to import only specialty rice. While the state-owned logistics firm Bulog is permitted to import non-specialty rice, it was alleged that private traders were allowed to import non-specialty rice with all the necessary import permits and customs clearance.Indonesia imports rice only through Bulog to ensure adequate supply to meet local demand. The government's declaration that the country produced 40 million tons in 2013, which is about 5.4 million tons in excess of its
consumption needs of about 35 million tons, has caused concerns over the non-specialty rice imports.The country's former Trade Minister resigned last month citing interest in joining politics. His statement that the Trade Ministry issued permits based on suggestions from Agricultural Ministry, and the Agricultural Ministry's denial has led to doubts over a possible abuse of identity or involvement of some government officials in legalizing the shipments, local sources say.The country's Supreme Audit Agency (BPK) has already said that it would investigate the matter and would also question the former Trade Minister if needed.Tags: Indonesia rice imports, Rice smuggling- See more at: http://oryza.com/news/rice-news/indonesia-new-trade-minister-prioritizes-non-specialty-rice-import-case#sthash.gQxOu5Mm.dpuf
Asia Rice Quotes Unchanged Today
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Feb 14, 2014
Vietnam, India and Pakistan rice sellers kept their quotes mostly unchanged today. Thailand rice sellers are out today due to a holiday.5% Broken RiceThai 5% rice (of new crop) was last quoted around $435 - $445 per ton, about a $45 per ton premium over Viet 5% rice shown around $390 - $400 per ton.Indian 5% rice is quoted around $415 - $425 per ton, about a $20 per ton premium over Pak 5% rice quoted around $395 - $405 per ton.25% Broken RiceThai 25% rice (of new crop) was last quoted about $390 - $400 per ton, about a $25 per ton premium over Viet 25% rice shown around $365 - $375 per ton.Indian 25% rice is quoted about $360 - $370 per ton, about a $10 per ton premium over Pak 25% rice quoted around $350 - $360 per ton.Parboiled RiceThai parboiled rice of the old crop was last quoted around $450 - $460 per ton.Indian parboiled rice is quoted around $400 - $410 per ton, about $5 per ton discount to Pak parboiled rice quoted around $405 - $415 per ton.100% Broken Rice
Thai broken rice, A1 Super, of the old crop was last quoted around $310 - $320 per ton, about a $40 per ton discount to Viet broken rice shown around $350 - $360 per ton.Indian broken sortexed rice is quoted about $300 - $310 per ton, about a $20 per ton discount to Pak broken sortexed rice quoted around $320 - $330 per ton.Tags: Asia rice quotes, Thailand rice quotes, Vietnam rice quotes, Pakistan rice quotes, India rice quotes- See more at: http://oryza.com/news/rice-news/asia-rice-quotes-unchanged-today-9#sthash.F9cBOgI3.dpuf
India Winter Rice Crop Planting Area Up 33% from Last Year
Area under India's Rabi (winter) rice crop planting stands at about 2.8 million hectares as of February 14, 2014, which is up about 33% from about 2.10 million hectares recorded during the same time last year, according to the Ministry of Agriculture.India’s total Rabi planting area (including rice and other grains) stands at about 65.67 million hectares, which is up about 6% from about 62.14 million hectares recorded during this time last year.Tags: India rice planting area- See more at: http://oryza.com/news/rice-news/india-winter-rice-crop-planting-area-33-last-year#sthash.uRCi2QrD.dpuf
India Rice Stocks in Central Pool Decline to 31.27 Million Tons; Down 12% from Last Year
India’s rice stocks in the central pool as of February 1, 2014 has declined to about 31.27 million tons (including a milled equivalent of around 22.054 million tons of paddy), down about 12% from about 35.38 million tons recorded during the same time last year, according to the Food Corporation of India (FCI).However, month-over-month, India's rice stocks in the central pool are up about 5% from last month's stocks of about 29.85 million tons, and current rice stocks are more than double the required buffer and strategic reserve norms of around 13.8 million tons for this time of the year.Total food grain stocks (mostly wheat and rice) with the FCI have declined to around 55.54 million tons as of February 1, 2014, down about 16% from last year. Wheat stocks in the central pool at about 24.2 million tons are down about 22% from last year.Tags: India rice stocks, Food Corporation of India (FCI)- See more at: http://oryza.com/news/rice-news/india-rice-stocks-central-pool-decline-3127-million-tons-down-12-last-year#sthash.O2j74Rjd.dpuf
SRI Can Boost Rice Yield by Eight Times in Sierra Leone, Researchers Say
Rice farmers in Sierra Leone will be able to achieve more than eight times higher yield by using the System of Rice Intensification (SRI) method of rice cultivation, according to the Rice Research Coordinator, West Africa Agricultural Productivity Program (WAAPP).The SRI system, which aims at higher rice production with less usage of chemical fertilizers, was introduced last year in some parts of Sierra Leone on a trial basis. The WAAPP Coordinator told local sources that the system uses organic fertilizers, known as kennel cake, and a single seedling, which can yield approximately over 200 seeds per panicle, unlike a cluster of seedlings used in the traditional farming system. He claimed that while the farmers achieved a yield of 1.8 tons per hectare with the traditional system, they could achieve around 15 tons per hectare with the SRI system.However, the WAAPP coordinator says that the process is labor-intensive since farmers have to plant each seedling patiently with sufficient space between the seedlings to allow free flow of water. But he adds that since SRI produces more rice with less seeds, farmers are satisfied. The WAAPP Coordinator is planning to use SRI system throughout Sierra Leone in the next season. He says that the country’s rice production would increase significantly in the coming years.Sierra is an importer of rice. According to the USDA, Sierra Leone’s rice production is estimated at around 693,000 tons (milled rice basis) in MY 2013-14, down about 15% from around 819,000 tons produced in MY 2012-13. The area harvested is estimated at around 625,000 hectares, and yield per hectare stands at around 2 tons per hectare. The country's domestic consumption is estimated at around one million tons, while rice imports are estimated at around 325,000 tons.Tags: Sierra Leone rice production, System of Rice Intensification (SRI)- See more at: http://oryza.com/news/research-development/sri-can-boost-rice-yield-eight-times-sierra-leone-researchers-say#sthash.rTWX59P4.dpuf
India States Receive 2012-13 ‘Krishi Karman’ Awards for Higher Rice Production
Two Indian states, Chhattisgarh and Maharashtra, have received this year’s "Krishi Karman" awards for achieving higher rice production during the crop year 2012-13 (October – September).Chhattisgarh received the 2012-13 Krishi Karman Award for best performance in paddy rice yield. According to government sources, the average rice yield in the state increased to around 2.041 tons per hectare in 2012-13, up about 71% from around 1.75 tons per hectare in 2011-12. Chhattisgarh produced around 6.28 million tons of rice in 2011-12, which is about 6% of India’s total rice production of around 104.3 million tons. The western state of Maharashtra, which produces around 2.8 million tons of rice annually, was awarded with commendation prize for rice.The northern state of Haryana won the Commendation Award for Sustained High Productivity of Rice and Wheat for the year 2012-13. According to the Haryana Agriculture Department, the state recorded all-time high rice production at 3.98 million tons during the 2012-13 fiscal, which is about 4% of India's rice production. Haryana was the highest contributor of food grains (including both rice and wheat) to the Central Pool and ranks first among states in basmati rice exports, according to local sources.The central state of Madhya Pradesh won the award in large category (food grain production more than 10 million tons), eastern state of Odisha won the award in medium category (food grain production 1 to 10 million tons) and Manipur won the award in small category (food grain production less than 1
million tons). In individual food grain crops, Chhattisgarh won the award for rice, Bihar for wheat, Jharkhand for pulses and Andhra Pradesh for coarse cereals.Krishi Karman awards were instituted in 2010-11 by the Government of India, Ministry of Agriculture. They are given to Indian states for their effort and contribution towards increasing the country’s food grain production.Tags: India rice production - See more at: http://oryza.com/news/rice-news/india-states-receive-2012-13-%E2%80%98krishi-karman%E2%80%99-awards-higher-rice-production#sthash.sMHJSLrZ.dpuf
Oryza Overnight Recap – Chicago Rough Rice Futures Remain Firm as Tight Fundamental Market Supports Futures
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Feb 14, 2014
Chicago rough rice futures for March delivery are currently paused 4.5 cent per cwt (about $1 per ton) higher at $15.755 per cwt (about $347 per ton) as of 8:00am Chicago time. The other grains are seen higher this morning ahead of floor trading in Chicago: soybeans are currently seen about 0.5% higher, wheat was paused about 0.9% higher, and corn is noted about 0.4% higher.U.S. stock index futures fluctuated Friday, ahead of more economic data which analysts fear may have been hit by the poor weather. On the economic front, export prices rose 0.2 percent, while import prices ticked up 0.1%. Industrial output numbers for January will be published at 9:15 a.m. ET, followed by the preliminary University of Michigan confidence report for February at 9:55 a.m. Economists polled by Reuters expect industrial output to have gained 0.3 percent. Consumer confidence is expected to hit 80.6 against the 81.2 reading in the prior month. Asia shares were mixed on Friday, after subdued inflation data out of China. Chinese consumer inflation rose an annualized 2.5% last month, but remained at a seven-month low. Producer prices fell for the 23rd straight month. Shares in Europe were also mixed, after better-than-expected euro zone growth data. Both Germany and France grew faster than forecast in the final quarter of 2013, with their economies expanding by 0.3% and 0.4% respectively. U.S. stock index futures are currently trading near the flatline, gold is currently trading about
1.2% higher, crude oil is seen trading about 0.2% lower, and the U.S. dollar is currently trading about 0.2% lower at 8:00am Chicago time.Tags: chicago rough rice futures- See more at: http://oryza.com/news/cbot/oryza-overnight-recap-%E2%80%93-chicago-rough-rice-futures-remain-firm-tight-fundamental-market#sthash.OCF8dHVq.dpuf
India Government Projects 2013-14 Rice Production at Record 106.19 Million Tons
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Feb 14, 2014
The Indian government says in its second advance estimates that rice production in 2013-14 (October - September) is likely to reach a record
106.19 million tons, the highest ever on record and up about 1% from an estimated 105.24 million tons produced in the previous year.The government says that India’s total food grain production, which includes kharif season (July – December) and rabi crops (November - March), in 2013-14 is likely to reach around 263.2 million tons (about 6 million tons or 2% higher from 2012-13) and production of many crops is likely to break earlier records.Local sources say that rice production is likely to get a boost this year helped by a surging rabi (winter) rice crop and high market prices. According to the agriculture ministry, India’s rabi rice area stands at around 2.8 million hectares as of February 14, 2014, up about 33% from last year.Higher production will help India maintain record rice shipments in 2013-14. According to the USDA, India was the world’s largest rice exporter in 2012-13 with exports of around 10.9 million tons. The US agency estimates India’s rice production in 2013-14 at around 103 million tons, against a consumption of 95 million tons, while India’s exports are expected to reach around 10 million tons in 2013-14. However, rice traders in India expect rice exports to grow to around 11 million tons in 2013-14.Government estimates are usually conservative, and the second advance estimate for rice production in 2012-13 was around 101.8 million tons, down about 3% or about 3.4 million tons from actual production of around 105.24 million tons.Tags: India rice production, Second advance estimate- See more at: http://oryza.com/news/rice-news/india-government-projects-2013-14-rice-production-record-10619-million-tons#sthash.1CF2Dll6.dpuf
Oryza Rice Currency Analysis for Today – India Rupee, Thai Baht Advance 0.8%
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Feb 14, 2014
U.S. dollar index was down -0.23% from the open today, when it traded at 80.134 at the close. Euro was stronger +0.13% by the close, trading around 1.3699 by end of day, after trading between an intraday high of 1.3715 and low of 1.3674.
Thai baht was stronger +0.83%, trading at 32.306 at the close of business. Indian rupee was stronger +0.83% at 61.9300. Brazilian real was +0.19% stronger than the open at today’s close, when it ended at 2.3889 reais per dollar. Pakistan rupee was +0.10% stronger at 104.8275. Vietnamese dong was +0.04% stronger at 21100. Mexican peso was +0.18% stronger today, when it traded at 13.2365 pesos per dollar by the close of business today. Chinese yuan was weaker -0.04%, trading at 6.0662. Argentine peso was -0.24% weaker, trading at 7.8096 pesos per dollar.Tags: foreign exchange rates- See more at: http://oryza.com/news/fx/oryza-rice-currency-analysis-today-%E2%80%93-india-rupee-thai-baht-advance-08#sthash.yljcOXVg.dpuf
Oryza Afternoon Recap – Chicago Rough Rice Futures Close Higher on the Week, Despite Double Digit Dive Today; Soybeans Slip While Corn, Wheat Climb
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Feb 14, 2014
Chicago rough rice futures for March delivery settled 12.5 cents per cwt (about $3 per ton) lower at $15.585 per cwt (about $344 per ton). Rough rice futures tumbled today as the market confirmed yesterday’s technical forecast for a pull back from the recent highs. Prices made an initial attempt to test yesterday’s high of $15.775 per cwt (about $348 per ton), but came up a few cents short and quickly came under pressure as the bears piled on the sell side. It is likely that traders took additional profit today, a fact that will be confirmed by a drop in open interest which will be reported on Tuesday. Today’s move has returned the market within the boundaries of the Bollinger bands, with the upper Band noted at $15.680 per cwt (about $346 per ton) today. Losses were limited by support provided by the 100-day
moving average, which was seen at $15.580 per cwt (about $344 per ton) today. Despite suffering double digit losses today the market managed to close 24.5 cents per cwt (about $5 per ton) higher this week, as prices climbed from $15.340 per cwt (about $338 per ton) on Friday February 7 to today’s settlement price. The other grains were finished mixed today with soy products lower while corn and wheat finished the week on a positive note; soybeans closed about 0.5% lower at $13.3750 per bushel; wheat finished about 0.5% higher at $5.9850 per bushel; and corn finished the day about 1% higher at $4.4525 per bushel. U.S. stocks drifted higher Friday, with all three major averages on track for their biggest weekly gain of the year, following a batch of economic data. The Dow Jones Industrial Average rallied nearly 100 points. The S&P 500 and the Nasdaq were also in positive territory. Among key S&P sectors, telecoms lagged, while energy held small gains. On the economic front, consumer sentiment was unchanged in early February at 81.2, according to the preliminary reading of the Thomson Reuters/University of Michigan. Analysts polled by Reuters expected a February reading of 80.6. Meanwhile, export prices rose 0.2%, while import prices ticked up 0.1%. Industrial production declined 0.3% in January, against an expectation for a gain of 0.3%. Economists trimmed their forecasts for U.S. economic growth in the first quarter of the year, with payroll expansion seen remaining somewhat subdued, but they expect the pace of activity to pick up in the second quarter. Gold is trading about 1.4% higher, crude oil is seen trading about 0.2% lower, and the U.S. dollar is seen trading about 0.2% lower at about 1:00pm Chicago time. Thursday, there were 1,377 contracts traded, up from 886 contracts traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday decreased by 139 contracts to 8,074.Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market- See more at: http://oryza.com/news/cbot/oryza-afternoon-recap-%E2%80%93-chicago-rough-rice-futures-close-higher-week-despite-double-digit#sthash.72hllI5Q.dpuf
Oryza Afternoon Recap – Chicago Rough Rice Futures Close Higher on the Week, Despite Double Digit Dive Today; Soybeans Slip While Corn, Wheat Climb
Chicago rough rice futures for March delivery settled 12.5 cents per cwt (about $3 per ton) lower at $15.585 per cwt (about $344 per ton). Rough rice futures tumbled today as the market confirmed yesterday’s technical forecast for a pull back from the recent highs. Prices made an initial attempt to test yesterday’s high of $15.775 per cwt (about $348 per ton), but came up a few cents short and quickly came under pressure as the bears piled on the sell side. It is likely that traders took additional profit today, a fact that will be confirmed by a drop in open interest which will be reported on Tuesday. Today’s move has returned the market within the boundaries of the Bollinger bands, with the upper Band noted at $15.680 per cwt (about $346 per ton) today. Losses were limited by support provided by the 100-day moving average, which was seen at $15.580 per cwt (about $344 per ton) today. Despite suffering double digit losses today the market managed to close 24.5 cents per cwt (about $5 per ton) higher this week, as prices climbed from $15.340 per cwt (about $338 per ton) on Friday February 7 to today’s settlement price. The other grains were finished mixed today with soy products lower while corn and wheat finished the week on a positive note; soybeans closed about 0.5% lower at $13.3750 per bushel; wheat finished about 0.5% higher at $5.9850 per bushel; and corn finished the day about 1% higher at $4.4525 per bushel. U.S. stocks drifted higher Friday, with all three major averages on track for their biggest weekly gain of the year, following a batch of economic data. The Dow Jones Industrial Average rallied nearly 100 points. The S&P 500 and the Nasdaq were also in positive territory. Among key S&P sectors, telecoms lagged, while energy held small gains. On the economic front, consumer sentiment was unchanged in early February at 81.2, according to the preliminary reading of the Thomson Reuters/University of Michigan. Analysts polled by Reuters expected a February reading of 80.6. Meanwhile, export prices rose 0.2%, while import prices ticked up 0.1%. Industrial production declined 0.3% in January, against an expectation for a gain of 0.3%. Economists trimmed their forecasts for U.S. economic growth in the first quarter of the year, with payroll expansion seen remaining somewhat subdued, but they expect the pace of activity to pick up in the second quarter. Gold is trading about 1.4% higher, crude oil is seen trading about 0.2% lower, and the U.S. dollar is seen trading about 0.2% lower at about 1:00pm Chicago time. Thursday, there were 1,377 contracts traded, up from 886 contracts traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday decreased by 139 contracts to 8,074.Tags: chicago rough rice futures, U.S. rice prices, U.S. rice market- See more at: http://oryza.com/news/cbot/oryza-afternoon-recap-%E2%80%93-chicago-rough-rice-futures-close-higher-week-despite-double-digit#sthash.72hllI5Q.dpuf
Grow vegetables, fruits: rice breeder tells Punjab farmersPress Trust of India | Mohali
February 17, 2014 Last Updated at 20:11 IST
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