4th may,2016 daily global,regional & local rice enewsletter by riceplus magazine

Daily Global Rice E-Newsletter 2016

www.ricepluss.com www.riceplusmagazine.blogspot.com For information : Mujahid Ali [email protected] 0321 369 2874

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www.ricepluss.com www.riceplusmagazine.blogspot.com

Vol 7,Issue IV May 04 ,2016



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Editorial Board Chief Editor

Hamlik Managing Editor

Abdul Sattar Shah

Rahmat Ullah

Rozeen Shaukat English Editor

Maryam Editor

Legal Advisor

Advocate Zaheer Minhas

Editorial Associates

Admiral (R) Hamid Khalid

Javed Islam Agha

Ch.Hamid Malhi

Dr.Akhtar Hussain

Dr.Fayyaz Ahmad Siddiqui

Dr.Abdul Rasheed (UAF)

Islam Akhtar Khan Editorial Advisory Board

Dr.Malik Mohammad Hashim Assistant Professor, Gomal University DIK

Dr.Hasina Gul Assistant Director, Agriculture KPK

Dr.Hidayat Ullah Assistant Professor, University of Swabi

Dr.Abdul Basir Assistant Professor, University of Swabi

Zahid Mehmood PSO,NIFA Peshawar

Falak Naz Shah Head Food Science & Technology ART, Peshawar

Today Rice News Headlines...

Global rice shortage expected: Ghori

Vietnam's Mekong Delta rice output drops

Without rain, Penang paddy farmers risk losing S$12.7m

Lack of certified seeds said to be hampering rice production

Rice Prices

As Asia's rice harvests shrivel amid drought, fears of global food

security are revived

Plant geneticist elected to National Academy of Sciences

Nigeria Can Eliminate Rice Importation With Right Policies – Idinoba

PPORTED WITH PRIVATE SECTOR INCENTIVES – OWOEYE

Cooperation Means More Wild(ly) Popular Rice Promotion

Wheat softens on ample stocks

Let‘s Trade with Cuba!

5TH INTERNATIONAL CONFERENCE ON FOOD PROCESSING

& TECHNOLOGY

Commodity Report-May 3

APEDA AgriExchange Newsletter - Volume 1464

Crop Progress: 2016 Crop 72 Percent Planted

News Detail...

Global rice shortage expected: Ghori May 04, 2016

RECORDER REPORT

first time in last six years, global rice production is expected to sharply

decline this year. According to Jawed Ali Ghori, former Chairman Rice

Exporters Association of Pakistan (Reap), the main reason is the drought and

heat wave that has been linked with the El Nino weather pattern. "The top

four rice producing countries, accounting for 60 percent of global production

including India, Thailand, Vietnam and Pakistan, are all expected to see a 30

percent drop in their inventories," he added.



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Thailand is now in its second year of drought and its production is expected to fall by 20 percent,

he informed. While, China, the world's largest rice importer is once again expected to import

around 5 million tons of rice as its own consumption will outpace production for a third year in a

row, Ghori added.

"The United States Department of Agriculture in its monthly agriculture update has slashed its

estimate for world ending stocks to 18 percent for the 2015-16 rice season. This means that there

are now 65 days of supply or rice in reserve as compared to 80 days last year," he said.

With expectation of shortfall in production, world prices have already started to reflect this

supply strain and are already up 13 percent since September, he said and added that the market is

not panic levels seen in 2008, when a similar El Nino pattern caused India to ban exports causing

global prices to increase by more than 300 percent. In addition, scenes of riots were witnessed in

Haiti while supermarkets in Philippines got cleaned out of rice in two days.

"New rice crops are expected to be harvested during November to December. However any

adverse weather change, especially the threat of drought can affect the size of the final crop," he

said. Exporters are closely monitoring rice sowing for price direction as farmers are switching

from rice to other less water intensive crops due to lack of water availability," Ghori said

http://www.brecorder.com/agriculture-a-allied/183:pakistan/42752:global-rice-shortage-expected-

ghori/?date=2016-05-04

Vietnam's Mekong Delta rice output drops May 02,2016

HO CHI MINH CITY, May 2 (Xinhua) -- The total yield of winter-spring rice crop in Vietnam's

Mekong Delta, which has just ended, was 10.4 million tons, down 6.3 percent against the previous

winter-spring crop, due to the ongoing drought and saltwater intrusion, the Ministry of Agriculture

and Rural Development said Monday.

The severe drought and saltwater encroachment have damaged over 200,000 hectares of winter-

spring rice in the delta. Therefore, the rice output in Kien Giang Province dropped by 312,000 tons,

and that in Tra Vinh Province declined by 169,000 tons.

To cope with the severe drought and saltwater encroachment, agriculture agencies have advised

Mekong Delta provinces to choose between only one, two or three key rice varieties to cultivate and

then harvest summer-autumn in September.

Due to the drought and food scarcity, Vietnam's southeastern region and Central Highlands region

have so far this year faced difficulties in raising cattle. Meanwhile, cultivation of maize, soya beans,

and sweet potatoes nationwide have been sluggish.



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Without rain, Penang paddy farmers risk losing S$12.7m

PUBLISHED: 4:15 AM, MAY 3, 2016

GEORGETOWN — Kedah may be the country‘s rice bowl, but paddy farmers in neighbouring

Penang are at risk of losing a whopping RM37 million (S$12.7 million) in revenue for the

current planting season if the dry spell continues.With the current weather conditions, the state

government is prioritising human consumption and has cut water for irrigation purposes, which

has affected farming operations.According to Penang state agriculture department director

Azahar Ibrahim, it costs about RM5,000 to plant each hectare of paddy field. ―The total income

losses they will face are calculated by deducting the costs from their estimated revenue,‖ he told

Malay Mail Online.The revenue for each hectare is estimated to be around RM9,000 to

RM10,000, he said.Currently, a total 8,622ha of paddy fields in Seberang Perai and Balik Pulau

in the state, with a total 4,765 farmers, do not have enough water for irrigation.

The state had proposed a solution for the affected farmers in northern Seberang Perai to start the

dry seeding method on May 10.According to Kampung Terus farmer Md Pisol Mahamud, the

dry seeding method requires less water, but once the paddy has sprouted, the fields still need to

be watered by the rain.―The fields need to be damp and this method takes a longer time for it to

sprout as the seeds will depend on rain, so if there is no rain, some of it may not sprout at all,‖ he

said.He said even those paddy fields with irrigation now face risks if the dry spell continues

because the paddy still needed to be watered after it has sprouted.

―Our yield may decrease by 70 per cent because of the weather,‖ he said.Each paddy planting

season lasts an average 115 days and it needs to be watered intermittently.―Even for dry seeding,

we need rain, and we can‘t water it ourselves because this method means it needs water to be

spread evenly throughout the field,‖ he said.Malaysia, especially its states of Perlis, Kedah,

Penang and Perak, has been enveloped in a heatwave — affecting up to four million people —

resulting in the temporary closure of schools, as well as slowing vegetable production, leading to

price hikes.

The drought has forced some states, such as Perlis and Johor, to impose water rationing.Md

Pisol‘s paddy fields, located near the Kulim River, still have water supply for irrigation. He had

already planted the seeds a few weeks ago.―We were told that we will get supply as long as they

can get water from the river, but if the water runs out, there‘s nothing anyone can do but hope for

rain,‖ he said.When asked what he could do during times like this, he said they will have to look

for other part-time jobs to supplement their income.―It‘s not like we will get money from the

government,‖ he said. ―What do the politicians know about our hardships? So we have to depend

on ourselves.‖ MALAY MAIL ONLINE



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Lack of certified seeds said to be hampering rice

production

Category: General News MAY 3, 2016

The lack of certified seeds is hampering rice

production in the country, Torgbui Azadagli III,

the Ho Municipal Director of Agriculture, has

said.He suggested that the Government and

stakeholders such as the Centre for Scientific

and Industrial Research collaborated in

addressing the issue of making certified rice

seeds available to all rice farmers across the

country.Torgbui Azadagli, who was speaking to

the Ghana News Agency in an interview, in Ho

on the sideline of the close-up workshop of the

Agribusiness Systems International (ASI) Ghana Commercialisation of Rice Project (G-CORP),

said the use of uncertified seeds also led to low crop yields.

He explained that some farmers in the Volta Region who had access to certified rice seeds were

recording very impressive yields; however, a majority who had no access to it had no option than

to grow uncertified varieties of the crops.

He said when farmers grew uncertified varieties, the grains matured at different periods, would

had different lengths, shapes and sizes; hence making their harvesting, processing and packaging

by rice millers very cumbersome.

The Alliance for a Green Revolution in Africa (AGRA) provided funding and technical support

for the three-and-a- half- year G-CORP project.

The project, which was aimed at increasing the productivity and incomes of 4,000 smallholder

farmers in the Volta Region, ended successfully with expected results.

The close-up workshop was attended by beneficiary farmer groups, aggregators, rice millers, and

other stakeholders from the private and public sectors, as well as representatives from AGRA.

https://www.ghanabusinessnews.com/category/general-news/

https://i2.wp.com/www.ghanabusinessnews.com/wp-content/uploads/2014/12/Rice.jpg?ssl=1



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The close-out workshop reflected on the projects‘ achievements, which includedbuilding the

business and management capacity of 20 aggregators to extend improved services to over 4,700

smallholder farmers.

He said the country‘s rice production generated a milling output of 204,030 tonnes (62 per cent),

leaving a demand gap of 29,000 tonnes, which was being filled with imports, hence the need to

intensify its production.

On the opportunity for rice production in the Volta Region, Torgbui Azadagli said that the

Region could boast of over 20,000 hectares of available land for upland rice production and more

than 40,000 ha (281 valleys) for low land rice production, which according to him, could all be

harnessed for the nation‘s socio-economic development.

He said the Region was blessed with abundant water resources favourable for rice production.

The Municipal Agriculture Director said poor and timely land preparation as a result of

inadequate machinery and difficulty in weed control were also hampering rice production in the

Region.

He said the Region had 43,396 rice farmers, stating that some of them used broadcasting

methods in the propagation of rice; which often resulted in incorrect spacing and low plant

population leading to low yield.

Torgbui Azadagli said some of the big commercial firms that were into rice production in the

Region included Brazilian Agro, Wienco, Weta Irrigation and Aveyime Irrigation.

He said rice production in the Region had taken an increased dimension in relation to the shift in

taste of the urban population and consumer habits.He said some of the varieties of rice being

grown in the Region were brown rice, Togo Marshal, Sikamo and CSIR AGRA.

He said the Ministry of Food and Agriculture provided regular extension services to all the

farmers.A lady rice farmer from Worawora and a beneficiary of the G-CORP, who spoke to the

GNA on the condition of anonymity, lauded ASI for increasing their efficiency, productivity and

revenues through the project.She said as the G-CORP project was due for close-up, their major

challenge was how to obtain certified seeds for cropping.She, therefore, appealed to the

Government to go to their aid with certified seeds.



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Source: GNA

As Asia's rice harvests shrivel amid drought, fears of global

food security are revived

5/3/2016

The Nation (Thailand)

SINGAPORE

Nearly a decade after a spike in global food prices sent shock waves around the world, the

blistering drought plaguing Asia's top rice producers, including Thailand, threatens to cut output

and boost prices of a staple for half the world's population.World rice production is expected to

decline for the first time this year since 2010, as failing rains linked to an El Nino weather

pattern cut crop yields in Asia's rice bowl.A heatwave is sweeping top rice exporter India, while

the No 2 supplier Thailand is facing a second year of drought.

Large areas of farmland in Vietnam, the third-biggest supplier, are also parched, as irrigation fed

by the Mekong River runs dry.Those three countries account for more than 60 per cent of the

global rice trade of about 43 million tonnes.

"As of now we haven't seen a large price reaction to hot and dry weather because we have had

such significant surplus stocks in India and Thailand. But that can't last forever," said James Fell,

an economist at the International Grains Council (IGC).Rice inventories in the three

top exporters are set to fall by about a third at the end of 2016 to 19 million tonnes, the biggest

year-on-year drop since 2003, according to Reuters calculations based on US Department of

Agriculture (USDA) data.

Any big supply disruption can be extremely sensitive. In 2008, lower Asian rice output due to El

Nino prompted India to ban exports, sending global prices skyrocketing and causing food riots in

Haiti and panic measures in big buyers such as the Philippines.Manila at the time scrambled to

crack down on hoarding, ordered troops to supervise subsidised rice sales and asked fast-food

chains to serve half-portions, as well as urging Vietnam and others to sell the country more rice.

The world has suffered a series of food crises over the past decade involving a range

of grains due to adverse weather.In the case of rice, benchmark Thai prices hit a record of

around US$1,000 a tonne in 2008. Price spikes like this typically also boost demand for



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other grains such as wheat, widely used for noodles in Asia, and soybeans and corn used for

food or feed.

While currently far below 2008 highs, rice this month hit $389.50, the strongest since July and

up 13 per cent from a eight-year low of $344 in September.

First fall in 6 years

Bruce Tolentino of the Philippines-based International Rice Research Institute is concerned

about Asia's vulnerability.

"In general prices are still stable right now. They're inching up though, and what will drive things

over the edge will be a major calamity in one of the major producing countries."

Although India's rice output last year was largely stable, extremely hot temperatures are

threatening a second crop in eastern regions.

Traders see further price gains by next month, as India's next big crop is not due until September

and Thailand's main crop by year-end.

The IGC sees a 2016 world harvest of 473 million tonnes, down from 479 million tonnes in 2015

and the first decline in six years.

Mekong Delta

Thailand's last main crop was only about half of the peak production a few years ago and the

USDA has forecast output will drop by more than a fifth to 15.8 million tonnes this year.

"The government has been asking farmers not to plant rice as there is little water in the reservoirs

after two years of drought," a Bangkok-based trader said.

In Vietnam, output could fall by 1.5 per cent this year to 44.5 million tonnes,

while exports would be 8.7 million tonnes, steady on a previous projection, the government said.

As much as 240,000 hectares of paddy has been destroyed by drought and salination in the

central area and the southern Mekong Delta region, it said.

A Singapore-based trader said that while the annual decline appeared modest, Vietnam's latest

harvest "is 5-6 per cent lower than last year".



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Thailand and Vietnam harvest three crops a year.

Importers also suffer

Some Asian countries are already looking to raise imports.

Indonesia is expected to see 2016 purchases jump by more than 60 per cent to 2 million tonnes

from a few years ago.

China, the world's top importer, taking about 5 million tonnes annually, is expected to continue

this buying pace. The IGC has forecast China's 2016 production falling short of consumption for

a third straight year.

The Philippines had the lowest stocks since October in March despite importing 750,000 tonnes.

Its procurement agency has standby authority to ship an additional 500,000 tonnes.

"Although El Nino has entered its weakening stage, the risk of higher food prices remains, given

the onset of the summer season," Philippine Economic Planning Secretary Emmanuel Esguerra

said.

http://www.world-grain.com/news/news%20home/LexisNexisArticle.aspx?articleid=2580086721

Plant geneticist elected to National Academy of Sciences

With the election of Julia Bailey-Serres, 7 UC Riverside faculty members are now

members of the prestigious academy

UNIVERSITY OF CALIFORNIA - RIVERSIDE

IMAGE: JULIA BAILEY-SERRES IS A PROFESSOR OF GENETICS AT UC

RIVERSIDE, Calif. (http://www.ucr.edu) -- Julia Bailey-Serres, a professor of genetics at the

University of California, Riverside, has been elected a member of the National Academy of

Sciences (NAS) for her excellence in original scientific research.Membership in the NAS is one

of the highest honors given to a scientist or engineer in the United States. Bailey-Serres learned

of her election today (May 3) during the academy's 153rd annual meeting in Washington, D.C.

Bailey-Serres is being recognized for her role in the discovery and characterization of a genethat

allows rice to survive under water. That gene has subsequently been introduced through breeding

http://www.ucr.edu/

http://cepceb.ucr.edu/people/bailey-serres.html

http://www.nasonline.org/news-and-multimedia/news/may-3-2016-NAS-Election.html

https://ucrtoday.ucr.edu/139



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by the International Rice Research Institute and others, creating flood-tolerant rice varieties that

are grown by more than five million farmers in flood-prone areas of Asia.

"Julia's

election and the fact that several other members of our Department of Botany and Plant Sciences

are members of the National Academy of Sciences speak to the strength of the department and

the fact that it is having a worldwide impact," said Kathryn Uhrich, dean of UC Riverside's

College of Natural and Agricultural Sciences.

Elected along with 84 other new members and 21 foreign associates from 14 countries, Bailey-

Serres brings the number of current UC Riverside faculty elected to the NAS to seven. The

others are: Xuemei Chen, Natasha Raikhel, Susan Wessler, James Dieterich, William Jury and

Alexander Raikhel.

All seven are faculty members in the College of Natural and Agricultural Sciences. Chen,

Natasha Raikhel, Wessler and Bailey-Serres are all also part of the university's Department of

Botany and Plant Sciences and Center for Plant Cell Biology (Bailey-Serres serves as director)

and, along with Alexander Raikhel, Institute for Integrative Genome Biology.

Wessler, a distinguished professor of genetics and home secretary of the National Academy of

Sciences, is impressed with the impact of Bailey-Serres' research."It is very unusual for someone

to make a basic science discovery and in such a short period of time see it benefit so many, so

http://cepceb.ucr.edu/

http://genomics.ucr.edu/



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quickly," Wessler said.Bailey-Serres is a graduate of the University of Utah. She has a Ph.D.

from Edinburgh University. She has been a member of the faculty at UC Riverside since 1990.

Her research group studies the sensing, signaling and acclimation responses to low oxygen stress

in plants. Her multidisciplinary approach combines genetic, molecular, biochemical and

bioinformatic technologies and has significant implications for agricultural and global food

challenges.

She has received international attention for her group's dissection of the mechanistic role of the

SUB1A gene in conferring submergence tolerance in rice. Her accomplishments also include the

pioneering of methods for profiling the "translatomes" of discrete cell-types of plants and

identification of a homeostatic sensor of oxygen deprivation in plants.

The NAS is a private, nonprofit honorific society of distinguished scholars engaged in scientific

and engineering research, dedicated to the furthering science and technology and to their use for

the general welfare. Established in 1863, the academy has served to "investigate, examine,

experiment, and report upon any subject of science or art" whenever called upon to do so by any

department of the government.

There are currently 2,291 active NAS members and 465 foreign associates. Among the NAS's

renowned members are Albert Einstein, Robert Oppenheimer, Thomas Edison, Orville Wright,

and Alexander Graham Bell. Nearly 200 living NAS members have won Nobel Prizes.

http://www.eurekalert.org/pub_releases/2016-05/uoc--pge050316.php

Nigeria Can Eliminate Rice Importation With Right

Policies – Idinoba

By Ruth Tene Natsa

— May 4, 2016 2:46 am |

Dr Philip Idinoba,a rice commodity specialist with AfricaRice provides insight into Nigeria’s

rice production challenges in this interview with Ruth Tene Natsa. He concludes that Nigeria

can overcome its rice imports challenges with strict political will and right policies.

What do you mean by Rice Science, are you into genetically modified organisms (GMOs)?

http://leadership.ng/reporter/by-ruth-tene-natsa/



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Rice science is an all-embracing subject, it

describes the application of scientific tools and

methods in the genetic improvement and

conservation of rice germplasms, the use of

science in rice production, management and

conservation of the production ecologies,

including processing and value addition to rice

and rice-based products to improve their

nutritional qualities. And no, we are not into

GMOs. Before the advent of GMOs which

employ transgenic tools and methods in targeting

and transferring desirable genes or material from

one plant to another (either of the same specie or

not), there were other breeding and crop

improvement methods called conventional

breeding and biotechnology methods which

involves natural pollination and transfer of better

traits from one plant to another (usually same plant types) , or the culturing and multiplication of

plants from their tissues. Conventional crop breeding methods could take between 4-7 years

before a breeder could breed a new crop depending on whether they have irrigation facilities to

plant, cross and select the new off-spring and to repeat the process again at least twice a year or

not. Biotechnology is much like conventional crop improvement but an improvement on

conventional crosses and selection because it can shorten the period by using molecular tools or

tissue culture in locating the desirable trait, extract and introduce it into the new plant off springs

to get the desired result.

The last two, that is, conventional breeding and biotechnology are the methods used by

AfricaRice and we don‘t do GMOs.

Having been in Nigeria, do you see Nigeria overcoming her rice import challenges?

Overcoming rice import challenges seems different from reducing or eliminating rice imports

which I think you wanted to ask. Yes, Nigeria can easily eliminate the importation of rice within

just a couple of years to three year period if the right things are done. Fortunately, is relatively

easy to increasing rice productivity because rice is not a complicated crop in terms of its

production techniques, it responds very well to good crop management practices on the fields,

the knowledge to do so is also available and it can grow in almost all Nigerian production

ecologies from mangrove swamps, to rain-fed upland, rain-fed lowlands and irrigated ecologies

which Nigeria has a lots of productive hectares unused and within a duration of 90 days to about

150 days for our common varieties. It is to be noted that Nigeria has come close to rice self-

sufficiency twice in recent history but the election years are always a turning point of that dream.

The Obasanjo government presidential initiative on rice was doing very well and moving toward

rice self-sufficiency until 2003 election year when there was massive importation of rice for

political campaign and election. The same happened in late 2014 to early 2015 when the rice



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transformation agenda of the last government was doing very well until massive imports were

allowed.

What do you see as challenges to food security in Africa, particularly Nigeria?

Nigeria does not have major issue with food security if we could improve in two areas in

addition to production. Those areas are aggregation or storage and of course value addition.

Every year, Nigeria have relatively good output of our major commodities like Rice, Cassava,

Sorghum, Maize, Cowpea, Plantains, etc, which Nigerians depend upon for household food

security. However, the losses are also very high both on-farms, in transit and in storage. Post-

harvest loses are between 20 to 40% for these crop due to poor handling techniques, weak

market chains, low value addition and non-existent storage facilities. If we increase our value

addition, diversification and improve storage facilities even at present production levels much

will be saved and prices will stabilize across seasons encouraging farmers to remain in business.

Agricultural prices are cyclical and this year production if influence positively or negatively by

last season‘s prices.

Would you say there are sufficient policies on ground to encourage local production, if not,

what is lacking?

The Rice Transformation Agenda (RTA) as a component of the Agricultural Transformation

Agenda (ATA) of the past administration was very well packaged and clear to everyone whether

you were working in the Agricultural sector or not. I cannot confidently say that I know what the

current policy is although the government of the day has said agriculture is a means of

diversification of the economy.

This did not show in the allocation to Agriculture in this year‘s budget. I think the government is

still working on the policy documents and also the diversification may show in 2017 budget but

not this year‘s budget judging from the percent allocation to the sector.

At this point does Africa/ Nigeria have a rice deficiency and what can be done?

Yeah we have deficiency in both Nigeria and the entire Sub-Sahara Africa of which Nigeria is

one of the highest importers. In Nigeria there are no clear data on this and depending on who is

talking the production gap that is currently filled by is between 1.5 to 2 million metric tonnes of

finished rice. By late 2014 we estimated this gap to fall within 900,000Metric tonnes and 1.3

million metric tonnes. The

massive dry season production started by the last minister of agriculture in 2012 and support to

farmers was the game changer.

However, the dry season production was not taken seriously in 2014 because of the election and

the reason about disproportionate import already stated. The 2015 dry season production by the

launched CBN anchor program is limited to a few states, particularly Kebbi state for rice with

about 75,000 hectare. This will not have much impact in terms of volume required to close the



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gap because even if the average yield rises to 5 tons per ha, it will still fall below 500,000 metric

tonnes of paddy. Nigeria need about 2.5 million to 3million metric tonnes of paddy to properly

close the national production gap.

Briefly what should be done?

Is that there should not only be good policy but a strong political will and determination to

coordinate that policy to succeed which we have lacked in many years. Government policy

should touch on upgrading the technology used by local millers to produce better quality rice.

We should start from that market end and that will stimulate production, more investments on

affordable irrigation facilities

How would u value the quality of our local rice and what can we do toenhance it?

I don‘t want to call it local rice because there is nothing local about our rice. I will call it the

Nigeria rice varieties many of which are varieties developed by AfricaRice. The Nigeria rice is

of excellent in taste, texture and overall quality. However, time will be required to wean us from

the Asian rice texture and taste. This is not a serious problem because if people do not see it to

buy when we begin to produce enough or could only see at very expensive price in the

supermarkets, the preference for imported rice will wane naturally.

What specific challenges do you see to rice development in Nigeria?

The challenges has been low political will to drive very good policies through, lack of policy

continuity, limited irrigation infra-structures, poor processing method by cottage millers who

currently process over 85% of our national finished rice. Upgraded these cottage mills in terms

of technology used by them to improve quality remains the fasted way to reaching national self

sufficiency.

http://webcache.googleusercontent.com/search?q=cache:http://leadership.ng/news/523382/nigeria-can-

eliminate-rice-importation-right-policies-idinoba

PPORTED WITH PRIVATE SECTOR INCENTIVES –

OWOEYE

Govt’s policies desirable for economy if supported with private sector incentives – Owoeye

By: ABOLAJI ADEBAYO,on: May 04, 2016

The National President of Rice Millers, Importers and Distributors Association of Nigeria,

RiMIDAN, and Managing Director of Elephant Group, Mr. Tunji Owoeye, in this interview with

http://nationalmirroronline.net/new/author/webmaster/



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ABOLAJI ADEBAYO, believes that recent government policy

measures, including the CBN’s forex policy restricting some 41

items from forex official window, are desirable for stimulating and

promoting local production and self-sufficiency in the economy, if

completed with incentives for the private sector. He also speaks on

other ways to boost local industrial production. Excerpts:

Sir, could you give an insight into the current level of rice

production in Nigeria? There are two categories of rice production

namely, paddy production and processed rice. In term of processed rice, I think it is about

3million tonnes. About 2million tonnes are from informal processing mills, that is, the small

scale fabricated mills while the remaining one million from the integrated rice millers. So, it is

approximately 3 million tonnes.

What level of productivity do we need to make Nigeria sufficient in rice? We need about 5.5

to6 million tones. So, there is a gap of 2.5 to 3 million tonnes to close the gap if we are to be self-

sufficient and put ban on its importation.

Will you support outright ban of rice importation and at what point? At the point that we

could have achieved full self-sufficiency in the rice production it should be banned totally. But

right now we have not achieved full self-sufficiency so I think right now there should be import

substitution in the sense that we should look at the domestic investment in the rice value chain,

the companies that have domestic investments in the rice value chain or planned investment in

the rice value chain; it should still be supported by giving incentives to import difference

between actual capacity and the consumption level regarding the production.

What is your reaction to the recent ban of rice importation through land borders by the

Nigeria Customs Service? It is a good initiative from the government; it helps local investors in

the rice value chain to consolidate on their investments so that it is not eroded by manipulating

tendencies of smugglers, ensuring that whatever investment they make is not lost.

You said there should not be total ban on the importation of rice in the country yet but if

there is no ban on the importation, do you think the country would be serious with its own

local production? No, there should be no total ban until we achieve self-sufficiency. It has

happened in cement and sugar so it can also happen in rice too. What we are saying is that we

have about 3 million tones gap, which must be bridged. That gap should be made available by

the investor companies who already have existing vibrant investment in the rice value chain and



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those that have traceable planned investment as an incentive for them to bring more investment

into the rice value chain. So, those should be allowed to import to bridge the production gap.

Recently, the CBN restricted some 41 items from assessing foreign exchange through the official

forex widows as a way of promoting local production. Do you think the policy measure is in

order? It is a local approach to a local problem. Yes, it is in order to the extent that. I mean the

CBN will just need to be proactive in ensuring that the policy works, because if you look at it

there is a lot forex that these commodities are taking away from our limited resources. But what

they should have done or continue to do as before is to ensure that, before the completion of self-

sufficiency, there is support for those that have the investments in the value chain, approve their

effort so that they can do some business to close the gap because if they do not close the gap

between production and consumption, some negative must happen and that is why the smugglers

forcefully take advantage in that situation.

On the impact of the policy, I think it is giving us another opportunity to look inward for

solution. When there is a challenge, you look inward and think of where to turn to so this is

giving us an opportunity to look for solution internally and that‘s what we begin to look at. I

think if we take Nigerian approach to Nigerian crisis; it is going to help us in a way to make us to

be disciplined and to take production and diversification much more serious. So, it has a positive

result, although it is a sacrifice that we have to make.

Do you think Nigeria is ripe for such policies considering the current level of

manufacturing in local production? Well at some point in time we have to rise up to the

occasion and there has to be sacrificed. At a stage where the country is now, you will see that it

is the time when we have to make all the sacrifice. It is not whether we should take but it is a

necessary measure for us to take. At some point in time, there would be a turnaround to have a

turning point to ensure that we begin to address our long term problem with a long term solution.

There has been wide campaign for economic diversification into agriculture. Do you believe

that agriculture is crucial to the drive to reverse the dwindling fortunes of the nation’s

economy? Agriculture and agribusiness will play a significantly role in the diversification of our

economy but obviously agriculture and agribusiness alone cannot, we have mining, we have

services. Services also play very vital role but agriculture is where we have the largest GDP and

that is where we have the largest employer of labour.

Sir, it has been claimed that for agriculture to play that role of reforming the economy, it

must be industrialised. In your view, is the country moving towards that direction?We

don‘t have any other root than industrializing. Yes, a journey of a thousand miles starts with a



17

step. I think CBN is doing that with selective products. CBN cannot intervene in all the products

at the same time so, it has started intervening in rice, wheat, beans, sugar and I think as time goes

by, there will be much more intervention, not only from CBN but from other developmental

partner institutions. With the political weight that we are seeing in present government, and of

course the wiliness and seriousness in agribusiness that we have on ground, there will be a

turning point.

As an expert, which other policy do you think is needed to optimize the performance of the

economy? To correct that notion, we are the players; I don‘t know why you call us experts.

Well, the policies by the government are okay. As a matter of fact, we have no choice than to

diversify the economy so, that policy should be strengthened, there should be consistencein the

policy and should be incentives for the private sectors that are driving thoseprogresses. And that

would go a long way in ensuring positive outcome.

How do you rate government’s support and commitment to agriculture? As we stand today,

because there are little alternatives, I think it is encouraging. It is encouraging. As stakeholders,

we want consistency, we want much more engagement and we wantsupport in terms of finance

and security and I‘m sure Government is showing clearly remarkablesupport for the sector but

I‘m sure it can get better.

What is your assessment of agric sector policy direction of the present administration when

analysed within the context of the immediate past government’s? First and foremost, I want

to thank the President of Nigeria and the Comptroller General of the Nigerian Customs Service

for assessing and taking a second look into stopping the initial approval of reopening land

borders for rice coming into the country. Based on circular that came in October 2015, the

government through the Comptroller General of NCS initially objected to our proposal on the

ground that Nigeria should not ban rice from the neighbouring countries through land borders

being a member of Economic Community of West Africa States, ECOWAS. Secondly, they felt

that the much needed revenue could come in through the land borders.

But from experience, because we are stakeholders who have been in this business for years, we

told them that they couldn‘t manage the process of allowing rice to come through the land

borders due to many unapproved routes that entered this country and Nigeria Customs doesn‘t

have the number of personnel and facilities to monitor those routes. Although NCS wanted to

increase revenue through the borders, which was good intention; we knew the economy

saboteurs would take advantage of the gesture, which they did. We made presentation to

management of customs and now we are delighted that they have finally granted our request on

land borders. After all, the rice we eat is per-boiled rice and our neighbouring countries don‘t



18

produce per-boiled rice. So, why are we bringing per-boiled rice to our country through the

neighbouring countries that don‘t produce it? They get the revenue from their ports while

sending the rice to Nigeria. That is disincentive to investors and rice farmers in the country.

With the decision of the reverse order, we are happy that government is responsive to our cry and

we believe that it will increase our capacity and production in the rice value chain. We have

members of our association that are investors in rice production and have invested heavily in

commercial rice plantation. We have state governments like Kebbi, Zamfara, Sokoto, Kano and

Benue that have done so much work in reactivating and getting their rice farmers back to work.

We have the CBN governor who has secured the permission of the President of the country to

pursue the agro borrows programme that was in November last year, and we have N40 billion

Central Bank investment in rice production across the varieties belt. The apex bank has been

supporting massively in the production of rice because hitherto production has been in comatose.

But the effort of CBN with the approval of the President will improve the sector. There has been

a lot of improvement in rice production and most farmers are excited to produce rice today.

The rice millers in Kebbi state are fully operational; also rice millers are fully operational in

other rice producing states. Because CBN is intervening in the sector and so, we at Elephant

group, an input supply and processing company, are excited to be part of this. A lot of people are

asking us question, when are we going to be self-sufficient in rice production in the country.

With this kind intervention we are getting from CBN, massively intervention and support, single

digit interest rate for rice production and processors, also with the kind of interventions we are

getting from other financial institutions in the country and capital adequate the value chain

stakeholders are putting to this sector; we believe that before the expiration of this current

government, we will be close to self-sufficient, if this tempos are increased.

How has your relationship, as an association, been with Bank of Industry and Bank of

Agriculture been in terms of funding support? They give some of our value chain operators

support but it depends on exactly what you need to know where to come in. Bank of Agriculture

is getting much more vibrant in the game now, especially for refinancing input supply for the

production. And with the empowerment from the CBN and other BOA‘s shareholders, I‘m sure

the bank would have more capacity to undertake much more lending to the sector. And I‘m

aware that Bank of Industry and also Bank of Agriculture both have a product that cater for the

youths who want to venture into agriculture/agribusiness but have no startup capital. They can

approach them and get the fund in as much as they fulfill their requirements.

Mechanised farming is a key to agricultural productivity generally but then Nigeria is yet

to optimize mechanization opportunities. What do you think is responsible for this?If you



19

go to the Northern part of the country, you will see those big planters and other equipment for

mechanised farming. We practise mechanised farming Nigeria but not to the level that is

expected, so we need more investors in that area. Having said that, we still need the small holder

farmers to operate side by side on a sustainable basis because if we use mechanised farming

alone for all the business, we are not going to achieve optimally in term of employment. So,

there has to be a balance between the mechanised farmers and the small holder farmers

http://nationalmirroronline.net/new/govts-policies-desirable-for-economy-if-supported-with-private-

sector-incentives-owoeye/

Cooperation Means More Wild(ly) Popular Rice Promotion

By Jim Guinn

WASHINGTON, DC - USA Rice recently signed a contract with the Minnesota Cultivated Wild

Rice Council to expand existing international promotion programs that have until now had

funding only from the California Wild Rice Advisory Board and the USDA's Foreign

Agricultural Service. This added funding will allow USA Rice to implement additional

promotions activities in Turkey, a growing wild rice market.

"I'm pleased we were able to bring the two wild rice producing states together for promotion

purposes," said USA Rice President & CEO Betsy Ward. "Combining our efforts means greater

efficiency and a bigger bang for the wild rice growers' bucks in a market hungry for U.S.-grown

wild rice."

mailto:[email protected]



20

When USA Rice introduced wild rice into Turkey six years ago it was totally unknown in the

market. Starting from a zero base, exports last year reached five metric tons. Currently two

Turkish companies import wild rice with brands appearing on retail shelves of three supermarket

chains. USA Rice is focusing on increasing the number of importers and driving demand by

consumers and the foodservice industry alike through demonstrations, advertising, and other

promotions.

Wheat softens on ample stocks

PTI | May 3, 2016, 03.10 PM IST

New Delhi, May 3 () In restricted activity, wheat prices shed Rs 5 per quintal at the wholesale

grains market today due to adequate stocks on higher supplies from producing belts against

reduced offtake by flour mills.

However, other grains remained steady in limited deals.

Traders said adequate stocks position on higher supplies from producing belts against reduced

offtake by flour mills kept pressure on wheat prices.

Meanwhile, wheat procurement has increased by 10 per cent to 208.11 lakh tonnes so far in the

ongoing marketing season, helped by rise in production.

In the national capital, wheat dara (for mills) eased by Rs 5 to Rs 1,615-1,620 per quintal. Atta

chakki delivery followed suit and enquired lower by a similar margin to Rs 1,620-1,625 per 90

kg.

Following are today's quotations (in Rs per quintal):

Wheat MP (desi) Rs 1,850-2,100, Wheat dara (for mills) Rs 1,615-1,620, Chakki atta (delivery)

Rs 1,620-1,625, Atta Rajdhani (10 kg) Rs 265, Shakti Bhog (10 kg) Rs 265, Roller flour mill Rs

850-860 (50 kg), Maida Rs 930-950 (50 kg) and Sooji Rs 980-990 (50 kg).

Basmati rice (Lal Quila) Rs 10,700, Shri Lal Mahal Rs 11,300, Super Basmati Rice Rs 9,700,

Basmati common new Rs 5,700-5,800, Rice Pusa (1121) Rs 4,600-5,500, Permal raw Rs 1,900-

1,950, Permal wand Rs 2,075-2,125, Sela Rs 2,400-2,500 and Rice IR-8 Rs 1,775-1,800, Bajra

Rs 1,600-1,605, Jowar yellow Rs 1,800-1,900, white Rs 3,400-3,500, Maize Rs 1,370-1,380,

Barley Rs 1,580-1,585. SUN KPS SRK MKJ



21

Let’s Trade with Cuba! 05/02/2016 05:14 pm ET |

Rep. Charles RangelRepresentative from the 13th Congressional District in New York

SVEN CREUTZMANN/MAMBO PHOTO VIA GETTY IMAGES

I am pleased that the first U.S. cruise ship to make a voyage to Cuba in almost 40 years arrived

in Havana, Cuba, yesterday morning carrying 700 passengers, including Cuban Americans on

board. This is an exciting development since my historic trip with President Barack Obama who

led a small bipartisan delegation to the Island Nation.

The last sitting U.S. President to visit Cuba before the Cold War was Calvin Coolidge in 1928,

two years before I was born. I would have never imagined in 1995 when Fidel Castro visited

Harlem that I would be traveling to Cuba with my President to meet with his brother, President

Raul Castro. We reaffirmed our efforts to cement our new ties and push for ending the embargo.

I am confident that both of our nations and citizens will benefit through the exchange of people,

goods, and ideas.

I was fortunate to witness the excitement on the streets of Havana in December 2014, when

President Obama first announced his plan to chart a new course in our diplomatic relationship

http://www.huffingtonpost.com/rep-charles-rangel



22

with Cuba. As the sponsor of the Promoting American Agricultural and Medical Exports to Cuba

Act, I had originally traveled to Havana with few other congressmen to explore how the United

States could gain access to a miraculous drug that could cure ulcers. Because I had stayed an

extra few days, I was able to report through multiple television interviews from Havana to the

American audience how Cubans embraced the news of rekindling our ties.

The recent landmark visit by President Obama, which also included American entrepreneurs

coupled with the Administration‘s New Course in Cuba policy, has compelled us to take more

concrete actions towards removing outdated barriers that are currently limiting opportunities for

our country and people. As President Obama acknowledged, it is up to the U.S. Congress to lift

the embargo which was first imposed in February 1962, and currently maintained through five

statutes, including the Trading with the Enemy Act of 1917, the Cuban Democracy Act of 1992,

the Cuban Liberty and Democratic Solidarity Act of 1996, and most recently the Trade Sanctions

Reform and Export Enhancement Act of 2000. The current embargo is the most enduring trade

embargo in modern history and shortchanges the American people from pursuing business

opportunities in Cuba. In 2014, the United States was the eighth largest exporter to Cuba,

accounting for just 3% of Cuba imports. The U.S. Chamber of Commerce estimates that the

embargo costs our economy $1.2 billion per year in lost sales and exports,

I have long recognized that the embargo has proved futile. I first introduced my Free Trade with

Cuba Act in 1993, and since have repeatedly introduced bills and pushed for policies that would

end it. Through numerous discussions with people, businesses, and organizations, and it is

abundantly clear to me that economic relaxation affords many American firms to increase their

services to the people in Cuba, which includes the hospitality industry, agriculture industries, and

any number of other American businesses and it creates a climate for successful American

investments. For example, we know that Cuba imports about seventy to eighty percent of its food

supply, representing a market estimated to exceed over $1 billion per year for U.S. agriculture

exports.

Through 2008, U.S. rice exporters shipped over 12,000 metric tons with an estimated farm gate

value to our economy of $7 million. Since 2008, due our trade restrictions and corresponding



23

inability to provide competitive credit terms, we lost this Cuba market to Vietnam, Brazil, and

others. If we were to lift the embargo, the global advocate for the U.S. rice industry, the USA

Rice Federation estimates within two years, we could regain 20 to 30 percent of the Cuban

import market, worth nearly $70 million and in five years 50 percent of the market, about

300,000 metric tons worth about $153 million to the US economy. Not to mention the increased

jobs in the rice growing, milling, and shipping industries associated with the increased exports.

Furthermore, allowing trade with Cuba will not only generate revenue for our economy, but will

also enable us to exchange American culture and ideals that can help foster democratic principles

in Cuba.

After the President left, I remained in Havana with a delegation from the Greater Harlem

Chamber of Commerce consisting of 21 key professionals in the fields of art, culture, education,

engineering, health, law and business. Together we met with senior ministers of the Cuban

government to finalize the first annual ‗Havana in Harlem Cultural Festival‘ which will be

launched in August 2016 in our own backyard in Harlem. The Festival will then take place

annually during the summer in Harlem and during the winter in Havana. It will focus on the

Harlem-Havana Afro-Cuban exchange of performing arts, fine arts, and cultural seminars.

With New York City‘s shared African and Cuban roots, the annual festival is expected to

initially attract thousands of visitors from around the world annually to Harlem and to Havana

and continue to grow. Through such people-to-people exchanges and culture, we can promote

peace, democracy and human rights.

The answer to when the U.S. Congress will lift the embargo lies in the hands of American voters.

Over 70 percent of us support normalizing relations with Cuba. Both the Cuban and American

people acknowledge that the embargo has been extremely unsuccessful. I believe we can end it

soon and bring about real change in our relationship. I will keep fighting to create the right

conditions for when that time comes when our two nations can work collectively towards peace

and prosperity.



24

Copyright © 2016 TheHuffing tonPost.com, Inc. | "The Huffing ton Post" is a registered trademark of TheHuffingtonPos t.com, Inc. All rights reserved.

http://images.huffingtonpost.com/2016-05-02-1462223500-3058278-CBRinCUBA.JPG

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25

Part of HuffPost on HPMG News

5TH INTERNATIONAL CONFERENCE ON FOOD

PROCESSING & TECHNOLOGY

Date: 07-Nov-16 to 09-Nov-16

Location: Crowne Plaza / Istanbul / Turkey

Category: Agriculture, Farming & Forestry Technology Conferences & Trade Fairs

We feel proud and honored to invite the attendees across the globe to its premier 15th

International Conference on Food Processing & Technology (Food Technology-2016) to be held

during November 07-09, 2016 at Istanbul, Turkey. With researcher and nutritionist working on

the science of future food we will form a traverse between the academic and industry peers. This

agenda for this Food Technology Conferences will focus mainly on investigating the

Interrelationships of Food, Nutrition and Health to Feed our Future. Turkey is considered to be

one of the leading countries in the world in the field of food and agriculture. Turkish food sector

employs more than 100 thousand registered workers and technical staff in more than 28 thousand

enterprises which are mostly SMEs. Two thousand of these enterprises are relatively modern and

big plants. For registration and more information about this Food Technology Event visit our

website: http://foodtechnology.conferenceseries.com/

http://foodtechnology.conferenceseries.com/

Commodity Report-May 3 Published May 3, 2016

Today‘s commodity report: National Weekly Rice Summary,

California F.O.B. Price for Extra Grade and Grade A Nonfat

Dry Milk, California Shell Eggs: Daily Egg Report, Shell Eggs:

Daily National Egg Market and other commodity end of the day

market numbers.

National Weekly Rice Summary

In California, medium grain milled rice prices steady. Second

head prices steady to 1.00 lower and Brewers prices steady to

2.00 lower. Rice by-products: Rice Bran prices steady to 10.00

lower. Rice hulls limited spot trade with prices steady. May 1st

http://www.einnews.com/events/calendar/2016/11/07

http://www.einnews.com/events/calendar/2016/11/09

http://www.einnews.com/events/city/istanbul

http://www.einnews.com/events/country/turkey

http://www.einnews.com/events/category/agriculture

http://www.einnews.com/events/category/technology

http://www.einnews.com/events/category/conferences_trade_fairs

http://foodtechnology.conferenceseries.com/



26

Rice Planted was 15%, par with 5 yr. average.

CME Rough Rice settlements for Friday 29th, May 16 closed .105 higher at 10.84; Jul 16 closed

.11 higher at 11.115; Sep 16 closed .095 higher at 11.255. US dollar index on Friday settled at

93.08.

USDA National Weekly Rice Summary (.pdf) with all prices.

California F.O.B. Price for Extra Grade and Grade A Nonfat Dry Milk

Week Ending Avg. Price($/lb.) Total Sales (lb.)

April 29, 2016 $0.7144 20,375,111

April 22, 2016 $0.7349 10,528,568

Prices are weighted averages for Extra Grade and Grade A Nonfat Dry Milk, f.o.b. California

manufacturing plants. Prices for both periods were influenced by effects of long-term contract

sales. Compiled by Dairy Marketing Branch, California Department of Food and Agriculture.

California Shell Eggs: Daily Egg Report

Prices are steady. The undertone is steady to lower. Offerings and supplies are moderate to

heavy. Demand is light to moderate. Market activity is slow. Compared to last week, the shell

egg inventory is 15.4 higher in the Southwest region and 5.1% lower in the Northwest region.

Shell egg marketer‘s benchmark price for negotiated egg sales of USDA Grade AA and Grade

AA in cartons, cents per dozen. This price does not reflect discounts or other contract terms.

RANGE

JUMBO 156

EXTRA LARGE 149

LARGE 142

MEDIUM 113

Shell Eggs: Daily National Egg Market

New York prices are unchanged on all sizes. California and regional prices are steady. The

undertone is steady to lower. Demand is light to moderate in California, moderate to instances

fairly good elsewhere. Offerings are light to moderate in the Northeast, moderate to heavy in

California, generally moderate in the remaining regions. Supplies are mostly moderate to heavy

for trading purposes. The total shell egg inventory is 1.6 percent higher when compared to the

previous week. Market activity is slow to moderate. Breaking stock offerings are light to

moderate for the moderate demand. Light type fowl offerings are adequate; processing schedules

are full-time.

Check the May USDA Commodity Report Calendar for today‘s commodity reports released

by USDA.

http://www.agnetwest.com/documents/National%20Weekly%20Rice%20Summary.pdf

http://agnetwest.com/usda-commodity-reports/



27

Tuesday’s Commodity Market ending market numbers:

Corn July Corn ended at $3.79 3/4 losing 12 cents, September ended at $3.81 1/2 down 10 3/4 cents.

Soybeans July Soybeans ended at 10.30 decreasing 13 3/4 cents, August ended at 10.32 losing 12 cents.

Wheat July Wheat ended at $4.70 3/4 down 17 cents, September ended at $4.81 1/4, decreasing 17 1/4

cents.

Rough Rice July Rough Rice ended at 11.445 increasing 0.11, September ended at 11.59 up 0.12.

Live Cattle June Live Cattle ended at $116.375 up $0.575, August ended at $114.35 gaining $0.625 and

October ended at $114.325 increasing $0.75.

Feeder Cattle May Feeder Cattle ended at $143.40 gaining $1.975 and August ended at $143.05 increasing

$1.55 and September ended at $142.50 up $1.075.

Lean Hogs May Lean Hogs ended at $78.475 increasing $0.05, June ended at $82.925 up $0.225

Class III Milk May Class III Milk ended at $12.95 decreasing $0.08, June ended at $12.92 losing $0.07, July

ended at $13.12 down $0.19.

#2 Cotton July #2 Cotton ended at 63.06 down 1.31, December ended at 62.35 losing 1.07.

Sugar #11 July Sugar #11 ended at 16.25 increasing $0.04, October ended at 16.53 unchanged.

Orange Juice July Orange Juice ending at 134.50 down $2.15, September ended at 134.55 losing $2.15.

http://agnetwest.com/2016/05/03/commodity-report-may-3/

05/03/2016 Farm Bureau Market Report

Soybeans

High Low

Cash Bids 1049 1027



28

New Crop 1030 947

Riceland Foods

Cash Bids Stuttgart: - - - Pendleton: - - -

New Crop Stuttgart: - - - Pendleton: - - -

Futures: SOYBEANS

High Low Last Change

May '16 1047.50 1015.00 1021.50 -14.00

Jul '16 1057.00 1023.00 1030.00 -13.75

Aug '16 1057.25 1025.00 1032.00 -12.00

Sep '16 1041.75 1012.25 1019.00 -10.00

Nov '16 1030.75 1003.00 1010.25 -7.50

Jan '17 1031.25 1004.00 1011.00 -8.25

Mar '17 1021.75 995.25 999.25 -11.50

May '17 1018.75 992.75 995.00 -12.75

Jul '17 1020.00 994.00 996.00 -13.75

Arkansas Daily Grain Report

http://click.aristotle.net/click.aspx?lid=CG0B2dIjIQl

http://click.aristotle.net/click.aspx?lid=CG4A6cMyIBl

http://click.aristotle.net/click.aspx?lid=CG4Q6cIyMAl

http://click.aristotle.net/click.aspx?lid=CG0B2dIjIQh



29

FOB Memphis Elevator Crops

Soybean Comment

Soybeans closed sharply lower today after setting new multi month highs. The new crop contract set new

highs today after an early jump to $10.30; however, prices weakened some 20-cents during the course of

the day. Continued fund buying continues to support prices as fundamentals remain mostly negative.

Soybeans will need a strong export report tomorrow to help soybeans continue to maintain gains above

$10.

Wheat

High Low

Cash Bids 496 437

New Crop 500 475

Futures: WHEAT


May '16 481.50 458.25 459.75 -17.25

Jul '16 492.75 468.25 470.75 -17.00

Sep '16 503.25 478.75 481.25 -17.25

Dec '16 521.25 496.25 498.75 -18.00

Mar '17 538.00 513.00 515.50 -18.50

May '17 547.50 523.00 525.75 -18.25

http://click.aristotle.net/click.aspx?lid=CG0B2dIjIRh



30

Jul '17 551.00 526.00 528.50 -18.75

Sep '17 536.50 535.75 535.50 -19.50

Dec '17 546.50 546.50 549.00 -18.75



Wheat Comment

Wheat prices saw the largest declines of any grains today as July wheat closed down 17-cents on the day.

July wheat has support at $4.67, if this support is broken prices could be headed back towards contract

lows if wheat does not get significant support from outside markets. Wheat remains pressured by

improving crop outlook and lackluster demand.

Grain Sorghum

High Low

Cash Bids 391 375

New Crop 366 282












31

Corn

High Low

Cash Bids 406 380

New Crop 400 376

Futures: CORN


May '16 393.50 375.75 378.25 -12.00

Jul '16 395.00 377.00 379.75 -12.00

Sep '16 394.75 378.75 381.50 -10.75

Dec '16 398.50 384.00 387.00 -9.50

Mar '17 406.00 392.50 395.50 -9.00

May '17 410.75 397.75 400.25 -9.00

Jul '17 415.00 402.00 405.00 -8.50

Sep '17 404.00 397.75 400.50 -8.00

Dec '17 410.50 400.50 402.75 -7.00










32

Corn Comment

Corn prices closed sharply lower with double digit losses in almost all the contracts. New crop corn

closed down some 9.5-cents today after prices failed near resistance at $4 and is now back below $3.90.

Corn prices continue to feel pressure from improved planting forecast and concern over the weaker export

inspections yesterday. Corn prices are likely trying to consolidate back in their previous range between

$3.70 and $3.90.

Cotton

Futures: COTTON


May '16 62.62 62.5 63.05 -1.31

Jul '16 64.65 62.16 63.06 -1.31

Dec '16 63.69 61.52 62.35 -1.07

Memphis, TN Cotton and Tobacco Programs

Cotton Comment

Cotton futures charted a huge bearish reversal today. The International Cotton Advisory Committee

revised its global output forecast to 22.96 million tons and lowered the global demand forecast to 23.77

million, leaving ending stocks of 19.59 million tons for the 16/17 season. Weekly exports were a

disappointing 74,600 running bales, down from 117,900 bales the previous week. This was due mainly to

recent price increases, but the decrease was greater than expected. Export bookings are now down 23%

from last year. July has uptrending support near 61.50 cents, while resistance is at the recent high of

64.75.

http://click.aristotle.net/click.aspx?lid=CG0B2dIjMAh



33

Rice

High Low

Long Grain Cash Bids - - - - - -

Long Grain New Crop - - - - - -

Futures: ROUGH RICE


May '16 1105.0 1094.0 1117.0 +11.0

Jul '16 1146.0 1121.0 1144.5 +11.0

Sep '16 1160.0 1142.0 1159.0 +12.0

Nov '16 1164.0 1156.0 1168.0 +13.0

Jan '17 1168.0 1168.0 1179.0 +11.5

Mar '17

1196.0 +11.5

May '17

1215.0 +11.5

Rice Comment

Rice futures were higher across the board today. July completed a 38% retracement today, with the next

upside objective at the 50% level of $11.93. Weekly exports were only 31,700 metric tons this week,

down from 121,300 metric tons last week. The market will be watching crop progress closely. If farmers

plant what they reported to USDA in the survey, the large crop will limit the upside potential. Currently,

USDA says 72% of the crop in the ground and 55% emerged. In Arkansas, the totals are 87% planted and

66% emerged, so Arkansas farmers made lots of progress in a week‘s time. However, world production is

in question as dry conditions persist in Asia due to El Nino, and that is providing support and possibly

pricing opportunities for the time being.






34

Cattle

Futures:

Live Cattle: LIVE CATTLE


Jun '16 116.850 115.750 116.375 +0.575

Aug '16 114.800 113.775 114.350 +0.625

Oct '16 114.525 113.625 114.325 +0.750

Dec '16 114.425 113.575 114.300 +0.600

Feb '17 113.475 112.575 113.425 +0.575

Apr '17 112.925 112.250 112.750 +0.300

Jun '17 107.425 106.775 107.425 +0.425

Aug '17 105.450 104.975 105.375 +0.375

Feeders: FEEDER CATTLE


May '16 143.725 141.225 143.400 +1.975

Aug '16 143.425 141.075 143.050 +1.550

Sep '16 142.725 140.975 142.500 +1.075

Oct '16 141.925 140.325 141.600 +0.675






35

Nov '16 137.900 136.275 137.675 +0.625

Jan '17 134.150 132.650 134.000 +0.575

Mar '17 133.400 132.000 133.275 +0.425

Apr '17

132.400 +0.425

Arkansas Prices

Ft. Smith Livestock Auction

Heber Springs Livestock Auction

Oklahoma City

Oklahoma City - Feeder Cattle Auction Weighted Average Report

Cattle Comment

Cattle prices closed higher again today as the market continues to try and recover last losses from last

Thursday's limit down move. The market has seen little bullish support for prices as beef prices continue

to weaken and cattle slaughtered continues lag year ago levels.

Hogs

Futures: LEAN HOGS


May '16 78.575 77.800 78.475 +0.050

Jun '16 83.125 82.100 82.925 +0.225

Jul '16 83.450 82.700 83.350 +0.225

Aug '16 82.150 81.500 81.925 +0.075

http://click.aristotle.net/click.aspx?lid=CG0B2sIyMBh

http://click.aristotle.net/click.aspx?lid=CG0B2sIyMBl

http://click.aristotle.net/click.aspx?lid=CG0B2dMiMBl






36

Oct '16 70.575 70.050 70.450 +0.075

Dec '16 65.250 64.800 65.175 0.000

Feb '17 67.875 67.550 67.825 +0.025

Apr '17 70.600 70.400 70.600 +0.050

May '17 74.850 74.825 74.825 +0.025

Hog Comment

APEDA AgriExchange Newsletter - Volume 1464

International Benchmark Price

Price on: 29-04-2016

Product Benchmark Indicators Name Price

Apricots

1 Turkish No. 2 whole pitted, CIF UK (USD/t) 4625

2 Turkish No. 4 whole pitted, CIF UK (USD/t) 4125

3 Turkish size 8, CIF UK (USD/t) 3625

Honey

1 Argentine 85mm, CIF NW Europe (USD/t) 2140



Peanuts

1 South Africa, HPS 70/80 peanuts CFR main European ports (USD/t) 2000






37

2 South African, HPS 40/50 peanuts CFR main European ports (USD/t) 1950

3 Argentinean 38/42 runners, CFR NW Europe (USD/t) 1485

Source:agra-net For more info

Market Watch

Commodity-wise, Market-wise Daily Price on 30-04-2016

Domestic Prices Unit Price : Rs per Qty

Product Market Center Variety Min Price Max Price

Rice

1 Manjeri (Kerala) Other 2700 3700

2 Deogarh (Orissa) Other 2000 3000

3 Purulia (West Bengal) Other 2200 2220

Wheat

1 Manvi (Karnataka) Other 1625 1655

2 Neemuch (Madhya Pradesh) Other 1550 1923

3 Sangli (Maharashtra) Other 2000 2600

Mousambi

1 Thirurrangadi (Kerala) Other 3500 3700

2 Sultanpur (Uttar Pradesh) Other 3900 3950

3 Gohana (Haryana) Other 2000 2800

Onion

1 Bolangir (Orissa) Other 1500 1600

2 Nabha (Punjab) Other 500 800

3 Karad (Maharashtra) Other 600 900

Source:agmarknet.nic.in For more info

http://agmarknet.nic.in/



38

Egg Rs per 100 No

Price on 02-05-2016

Product Market Center Price

1 Pune 325

2 Nagapur 307

3 Hyderabad 304

Source: e2necc.com

Other International Prices Unit Price : US$ per package

Price on 02-05-2016

Product Market Center Origin Variety Low High

Onions Dry Package: 50 lb cartons

1 Atlanta Colorado Russet 17 17.50

2 Chicago California Russet 21 21

2 Detroit Wisconsin Russet 16 16.50

Carrots Package: 20 1-lb film bags

1 Atlanta California Baby Peeled 20.25 20.75

2 Dallas Mexico Baby Peeled 17 19

3 Philadelphia California Baby Peeled 16 16

Apples Package: cartons tray pack

1 Atlanta Virginia Red Delicious 25.50 26

2 Chicago Washington Red Delicious 21 21

3 Miami Washington Red Delicious 24 28

Source:USDA

http://e2necc.com/



39

Crop Progress: 2016 Crop 72 Percent Planted

WASHINGTON, DC -- Seventy-two percent of the nation's 2016 rice acreage is planted,

according to yesterday's U.S. Department of Agriculture's Crop Progress Report.

Rice Planted, Selected States

Week Ending

State May 1,

2015

April 24,

2016

May 1,

2016

2011-2015

average

Percent

Arkansas 56 75 87 59

California 29 3 15 15

Louisiana 87 79 81 91

Mississippi 61 53 69 56

Missouri 27 86 94 47

Texas 65 76 79 85

Six States 55 62 72 56

Rice Prices as on : 03-05-2016 08:10:27 PM

Arrivals in tonnes;prices in Rs/quintal in domestic market.

Arrivals Price

Current

%

change

Season

cumulative Modal

Prev.

Modal

Prev.Yr

%change

Rice

Gadarpur(Utr) 1062.00 7.49 106108.00 2275 2373 33.59

Gondal(UP) 490.00 1013.64 12022.10 1990 1990 -1.24

http://r20.rs6.net/tn.jsp?f=001cElu50R__IBmYk9qUeZzOOBLUyT_b9qpc8C3ilGUuMu6sQgwJ94neFNDAxi9ZmR9tEey9Mqvo7ngvxCNiM08cQfwXEYP9r48czbc6qJC3wf3EhfMi_t4eAJQhXWVTWAT1CX6uQbbdUW5Vm1aEN2gat1Pt9La7EKeGp2kXc1yYAfl0HOxVLC5dOAzCa1bC8fIgeo42QZpXz5510XNxtOaFuoKTd_3XvhuTU5Ca65g7T5q_oxteJ567eLVTHSqdFht&c=AZ-5FQHuApDsz16kjkHNdr40VUGLgHtugu0eACXq9Iin343l3g-WRg==&ch=8qs1R1Aiuw7ZoutiyaAIECYNCRvqSFOMbgBk6NfEfmSFkdzgG3n12Q==



40

Burdwan(WB) 438.00 12.31 5067.00 1850 1700 1.09

Varanasi(Grain)(UP) 390.00 2.63 10135.00 2050 2045 2.50

Manjeri(Ker) 290.00 NC 9570.00 2900 2900 -12.12

Sultanpur(UP) 283.50 0.35 3396.00 2225 2200 8.54

Sainthia(WB) 190.00 2.15 1758.20 1800 1765 -

Memari(WB) 168.00 14.29 3061.00 1850 1700 1.65

Guskara(Burdwan)(WB) 167.00 13.61 3080.00 2160 2200 NC

Birbhum(WB) 159.00 1.92 2647.50 1825 1780 -1.88

Lucknow(UP) 150.00 -1.32 4082.00 2200 2150 7.32

Bareilly(UP) 121.00 4.31 7051.60 2325 2325 13.41

Nalbari(ASM) 107.00 -4.46 1028.50 2100 2100 5.00

Azamgarh(UP) 103.00 -4.63 4537.50 2120 2115 7.07

Mathabhanga(WB) 100.00 -23.08 4000.00 1950 1950 -4.88

Goalpara(ASM) 96.70 13.1 910.40 1900 1800 -

Faizabad(UP) 80.00 NC 3871.50 2140 2125 -

Pilibhit(UP) 78.00 -9.3 18572.00 2195 2190 0.23

P.O. Uparhali Guwahati(ASM) 77.00 6.94 3377.50 2100 2100 -19.23

Achalda(UP) 70.00 -6.67 3417.50 2275 2280 2.02

Kalipur(WB) 70.00 -27.84 5034.00 2200 2200 12.82

Junagarh(Ori) 61.85 16.28 1310.84 2100 2100 -4.55

Barasat(WB) 60.00 NC 2565.00 2200 2200 -4.35

Kalahandi(Dharamagarh)(Ori) 49.85 2.4 913.29 2100 2100 -4.55

Lanka(ASM) 45.00 50 2250.00 1750 1750 -1.41



41

Kasimbazar(WB) 42.50 NC 1793.00 2240 2250 -10.40

Cachar(ASM) 40.00 NC 1650.00 2700 2700 NC

Dadri(UP) 35.00 -7.89 1902.00 2130 2130 2.40

Ramgarh(Jha) 32.00 100 417.00 2800 2600 NC

Robertsganj(UP) 30.00 50 167.00 1880 1890 1.08

Purulia(WB) 24.00 20 1867.00 2240 2200 -6.67

Chorichora(UP) 22.00 -26.67 352.15 2090 2110 7.18

Diamond Harbour(South 24-pgs)(WB) 22.00 -12 763.50 2000 1900 -4.76

Ramkrishanpur(Howrah)(WB) 21.20 25.44 1081.70 2400 2400 -7.69

Balurghat(WB) 21.00 -12.5 485.00 2900 2900 -

Shahganj(UP) 20.00 NC 67.00 1900 1870 -1.04

Udala(Ori) 17.00 30.77 818.00 2800 2800 12.00

Kolaghat(WB) 17.00 -5.56 545.00 2300 2300 4.55

Tamluk (Medinipur E)(WB) 17.00 -5.56 561.00 2300 2300 9.52

Jajpur(Ori) 16.00 NC 425.00 2200 2000 -15.38

Giridih(Jha) 15.38 13.59 201.10 3500 3500 -1.69

Dibrugarh(ASM) 14.00 -22.22 1115.70 2450 2450 -

Lakhimpur(UP) 14.00 -17.65 451.50 2170 2160 3.33

Pukhrayan(UP) 13.00 NC 238.50 2125 2100 -1.62

Kasganj(UP) 10.00 66.67 563.00 2050 2050 0.24

Kaliaganj(WB) 10.00 -16.67 629.00 2550 2550 2.00

Champadanga(WB) 10.00 -33.33 797.00 2450 2450 -5.77

Gangarampur(Dakshin Dinajpur)(WB) 10.00 - 10.00 1900 - -



42

Nilagiri(Ori) 9.00 28.57 431.00 2300 2400 NC

Raiganj(WB) 9.00 -10 789.50 2650 2650 1.92

North Lakhimpur(ASM) 8.90 32.84 1362.60 1900 1900 -

Sheoraphuly(WB) 8.85 -6.84 380.85 2750 2750 1.85

Bolangir(Ori) 7.00 -6.67 237.20 2200 2200 -8.33

Chengannur(Ker) 6.50 -7.14 504.00 2400 2400 -4.00

Tusura(Ori) 6.50 -13.33 259.00 2200 2200 -8.33

Karanjia(Ori) 6.00 NC 248.80 2600 2600 4.00

Khair(UP) 6.00 NC 146.00 2210 2210 14.51

Mirzapur(UP) 6.00 30.43 1262.10 1970 1965 -0.51

Nimapara(Ori) 4.50 12.5 183.50 2200 2200 15.79

Islampur(WB) 3.00 NC 270.90 2150 2150 -

Karimpur(WB) 3.00 NC 55.00 3150 3150 NC

Balarampur(WB) 2.80 3.7 60.80 2250 2240 -6.25

Lamlong Bazaar(Man) 1.40 NC 59.90 2900 2900 NC

Kasipur(WB) 1.10 NC 32.30 2150 2150 -6.52

Punalur(Ker) 1.00 NC 20.50 1600 1800 -

Shillong(Meh) 1.00 42.86 49.60 3500 3500 NC

Thoubal(Man) 1.00 -9.09 74.90 2900 2800 3.57

Sardhana(UP) 0.80 -20 75.70 2200 2195 5.26

Khliehriat(Meh) 0.70 -30 9.20 4500 4500

http://www.thehindubusinessline.com/economy/agri-business/article8551458.ece

4th may,2016 daily global,regional & local rice enewsletter by riceplus magazine

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