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TOP Contents - Tailored for YOU Latest News Headlines

Thai rice woes rebound on crisis-hit government Rice Tumbling as Thailands Unpaid Farmers Urge Reserve Sale Vietnam's rice exports slump as prices rise Vietnams Rice Export Revenue Dove 30.5% In January Yingluck to be charged over rice scheme this month April Vote Leaves Thailand Locked in Limbo: Economy Tipped to Rot Thai Court Rejects Opposition Bid to Throw Out Elections Nagpur Foodgrain Prices Open- Feb 12 Jayalalithaa terms service tax on rice storage discriminatory Govt rice auction met with bidding frenzy Price fall hits agri exports Rice tumbles on stock sale call NACC expected to charge PM over rice Court rejects petition to void Feb 2 election Rice Exports From India Climbing to Record on Mideast Demand World Rice News 02.12.2014
NEWS DETAILS:
Thai rice woes rebound on crisis-hit government

By AIDAN JONES, Agence France-PresseFebruary 12, 2014 2:21pm
BANGKOK - Angry farmers, a rice mountain and a slew of corruption allegationsa flagship policy that helped propel Thailand's premier to power now threatens to boomerang on her embattled government.Prime Minister Yingluck Shinawatra is struggling to steer the Southeast Asian nation through a policy vacuum created
by a chaotic general election earlier this month.A controversial rice subsidy scheme, which paid farmers up to 50 percent above market rates, helped her sweep to power in 2011 but now appears to be unraveling. Critics say the program has incubated massive corruption, drained the public finances, dislodged the kingdom as the world's top rice exporter and created an estimated 18 million-tonne stockpile of the grain.Hundreds of farmers have protested recently in Bangkok to demand payment after the government ran short of cash to buy their pledged crops late last year, adding to pressure on Yingluck, who has faced months of opposition rallies.The cabinet earmarked nearly $22 million Tuesday for about 3,900 farmers but, in a sign of the policy constraints it faces, the payments must be approved by the Election Commission. An estimated one million farmers nationwide are owed money, according to the Thailand Development Research Institute, which says the government may need to find $3.6 billion to catch up with payments. Thailand sought to recoup the money paid to farmers by hoarding rice to drive up prices on world markets, but it was unable to find buyers after rival producers such as India and Vietnam unexpectedly boosted their shipments.The Thai Rice Exporters Association forecasts the kingdom will sell 7.5 million tonnes overseas this year, down more than 30 percent compared with 2011."The whole Thai rice industry fell apart and the reputation it had enjoyed in the world market as a reliable supplier of good quality rice is gone," said TDRI's Ammar Siamwalla. Cooking the books? The government has not revealed the exact annual cost of the scheme, but the TDRI says estimates range from $4.6 billion to $6 billionroughly six-eight percent of the annual budget.The ruling Puea Thai party denies the government has run out of money and has defended the scheme as an effort to lift rural Thais out of poverty.Yingluck blames opposition demonstratorswho disrupted the February 2 electionfor leaving her caretaker administration with limited power to raise funds.Until voting is held in dozens of protest-hit constituencies, there are not enough MPs to appoint a new government even if Yingluck's party wins."We are trying to solve the problem as best we can... but the banks will not approve loans," Yingluck told reporters on Tuesday. "The government's financial and monetary status is good."A deal to sell one million tonnes of stockpiled grain to a Chinese state firm recently collapsed after a Thai anti-corruption panel announced graft charges against
several government officials linked to the scheme.The National Anti-Corruption Commission (NACC) has launched a probe into possible negligence of duty by Yingluck in connection with the flagship policya move that could potentially result in her impeachment.Opposition politician Warong Dechgitvigrom, who submitted the graft complaint to the NACC, alleges that the scheme lured many mills to increase their inventory with substandard grain from Cambodia and Myanmar. Warong said he had evidence that fabricated dealspurportedly to sell rice to overseas governmentsenabled local shell companies to buy rice at bargain prices from the scheme to re-sell on the domestic market at the expense of taxpayers."Every process within the rice scheme has been corrupt," he told AFP."The farmers are poor... exports have collapsed and the quality of Thai rice is bad," added Warong. "I think this is near the end for Yingluck." Coming to boil Voters in the northeastern region of Isaan, home to a third of the population, have helped bring three successive governments backed by Yingluck's billionaire family to officethe first in 2001 led by her elder brother Thaksin.Failure to pay farmers could erode that "traditionally arch-loyal rural base", said Paul Chambers, director of research at the Institute of South East Asian Affairs at Chiang Mai University in northern Thailand.But the impact on the government's popularity remains unclear.In the northeastern province of Udon Thani, farmer Mali Khampimaan blamed the opposition demonstrators for the $750 she is owed for rice delivered in November."The banks won't pay because of the protests," said Mali. "But we still need the money." Agence France-Presse
Rice Tumbling as Thailands Unpaid Farmers Urge Reserve Sale

By Supunnabul Suwannakij and Chanyaporn Chanjaroen Feb 12, 2014 5:44 PM GMT+0500 Photographer: Piti A Sahakorn/LightRocket via Getty Images
A rice farmer carries a stubble of rice straw as he joins a protest in Bangkok, Feb. 10, 2014.
Thai rice farmer Pakasit Jamjaras usually spends his days tilling soil, just like his forefath ers. Now hes been harvesting signatures instead of grain, with a petition toKing Bhumibol Adulyadej because the government
hasnt paid for his crop in five months.We are heavily indebted, Pakasit, a 47-year-old father of three, said by telephone from Phichit province, about 350 kilometers (217 miles) north of Bangkok. We need to repay suppliers of fertilizers and others.Thailand, once the worlds biggest exporter, is short of funds to help growers under Prime Minister Yingluck Shinawatras 2011 program to buy the crop at above-market rates. After the government built record stockpiles big enough to meet about a third of global import demand, exports and prices have dropped, farmers arent being paid, and the program is the target of anti-corruption probes. Political unrest may contribute to slower growth in Southeast Asias second-largest economy.Selling the government inventory to pay farmers would flood the market with rice, eroding prices that in 2013 fell by the most in at least five years, and would escalate competition for shippers in Asia, including India, Vietnam and Cambodia.The program is simply unsustainable and hurting the finances of the country, said Concepcion Calpe, a senior economist in Rome for the United Nations Food & Agriculture Organization. The suspension of the rice-pledging program will exacerbate the decline in Thai market prices as farmers enrolled in the program increasingly fail to be paid. Violent Protests Protests against Yingluck by farmers, who blocked roads in the provinces, added to opposition in Bangkok that led to deadly conflicts. Months of demonstrations led by Suthep Thaugsuban, a former opposition-party power broker, paralyzed parts of the capital and disrupted a national election on Feb. 2. Yingluck heads a caretaker administration until a new government is formed. Thailand, a constitutional monarchy since 1932, had nine coups since 1946, when King Bhumibol assumed the throne.The price of Thai 5-percent broken white rice, a benchmark grade, tumbled 23 percent last year and was at $460 a metric ton today. A slump to $370 by March is possible as more grain is offloaded from state granaries, according to Chareon Laothamatas, president of the Thai Rice Exporters Association. It may take about five years for the state stockpiles to be sold off, Chareon said on Feb. 5. Stockpiles Expand Yinglucks program was intended to boost farmers incomes and lift prices when it began in October 2011. Instead, Thailand was dethroned as the top exporter as reserves surged. After exporting 10.65 million tons in
2011, shipments slid to 6.7 million last year, behind India and Vietnam, U.S. Department of Agriculture data show. Shipments are seen at 8.5 million tons this year, the USDA forecasts.The government spent 689 billion baht ($21 billion) in the past two crop years buying from farmers at prices that were as much as 76 percent higher than current market rates. The USDA expects that Thai inventories will reach a record 14.7 million tons this year, compared with 6.1 million in 2010.As stockpiles grew, so did the strain on government finances. Moodys Investors Service said in June losses from rice subsidies were credit negative for Thailands sovereign rating. The International Monetary Fund, the global lender based in Washington, urged the government in November to replace the policy, saying that it was hurting confidence in public finances. Kittiratt Na-Ranong, Thailands finance minister at the time, responded to the IMFs assessment by saying that the government has our ways to help farmers. Corruption Probe The National Anti-Corruption Commission said last month it will investigate Yinglucks role as overseer of the program, after finding enough evidence to charge 15 people, including former Commerce Minister Boonsong Teriyapirom. Boonsong said Jan. 16 said that the charge was unfair and he would fight it.After the commissions announcement, Chinas Heilongjiang province dropped a plan to buy 1.2 million tons from Thailand, a sign that the probe had eroded the confidence of the buyer, caretaker Deputy Prime Minister and Commerce Minister Niwattumrong Boonsongpaisan said on Feb. 4.ngluck defended the program on Feb. 6, saying that over the past two years the government succeeded in lifting farmers incomes, according to a post on her Facebook page. Her caretaker government has limited authority, she wrote. Under the Thai constitution, a caretaker administration cant borrow new debt or commit to new loans that would obligate the next government. Impeded Payment We have asked all related government agencies to solve the issues that impeded payment procedures, said Yingluck, the sister of former Prime Minister Thaksin Shinawatra, who was ousted in the most recent coup in 2006 and still influences policy through the Pheu Thai party. The Ministry of Finance is seeking legitimate loans under the legal restrictions for a caretaker government, while the Ministry of Commerce is auctioning stockpiles.Initially, state buying was popular among growers. A 2012 survey of 1,200 farmers by the University of the Thai Chamber of Commerce found 80 percent planned to stay with the program the following crop year. The 5 percent grade climbed to $647 in November 2011, a three-year high.Thailand may not be able
to find enough buyers for the stockpiles because major importers in Africaand the Philippines increasingly prefer grain from Vietnam and India, said Darren Cooper, a senior economist at the International Grains Council in London. A forecast for Thai exports at 8.2 million tons this year probably will need to be reduced, Cooper said. Pay Us The government must sell rice in the stockpile to pay us, said Ravee Rungruang, a leader of a farmers group in Ratchaburi province that blocked highways this month and joined other growers on Feb. 6 to protest at the Ministry of Commerce. The government has ignored us.The protests led by Suthep, as well as the unrest from farmers, are hurting the economy. The runup to the Feb. 2 elections that were contested by Yinglucks Pheu Thai party, dragged consumer confidence to a two-year low in December and forced the government to cut its 2014 growth forecast twice in less than a month, to 3.1 percent from 5.1 percent.The Thai economy probably expanded 0.2 percent in the fourth quarter from a year earlier, according to a Bloomberg survey of six economists, slower than a 2.7 percent gain in the previous three-month period. For the full year, GDP grew 2.8 percent, a separate survey showed. Fiscal Burden The Pheu Thai party gained a political stronghold from farmers because of its rice policy, said Nipon Poapongsakorn, a distinguished fellow at the Thailand Development Research Institute, whos studied rice since the mid-1990s. Now its losing a voting base. This policy isnt sustainable as it damages the rice business and causes a huge fiscal burden.Theres also the risk that the government rice is in poor condition or spoiled. Quality of the grain deteriorates after two years in storage at room temperature in Thailand, according to Chareon, president of the exporters association. He predicts inventories may reach 20 million tons this year, and that some of the grain is already too old or ruined to be sold.The government should let us chec k quality and volume in state warehouses for transparency, said Prasit Booncheuy, president of the Thai Rice Farmers Association, whose group joined protesters at the Ministry of Commerce on the outskirts of Bangkok on Feb. 6. We want the commerce ministry to speed up sales from stockpiles to pay farmers. Stockpile Sales The government needs to pay 177 billion baht for about 10 million tons bought from farmers since October, Niwattumrong, caretaker commerce minister, told reporters on Feb. 6. About 700,000 tons from the past two
years is slated for sale in auctions today and tomorrow, according to the ministry.In the worst case, if they decide to get rid of the program and go back to the time when there was no mortgage scheme, it will put downward pressure on global prices, said Samarendu Mohanty, senior economist at the Los Banos, Philippine based International Rice Research Institute.A further drop in rice prices would help extend a decline in global food costs, which fell in January to a 19-month low amid ample supplies, according to a 55-item gauge compiled by the FAO. The measure is down 15 percent since touching a record in February 2011, and cereal prices tracked by the FAO lost 26 percent since September 2012. Rough-rice futures in Chicago fell 0.8 percent to $15.53 per 100 pounds in the past year.Pakasit, the farmer from Phichit, gathered about 3,000 signatures in his plea to the 86-year-old king, whose portrait hangs in most homes and shops. Pakasit said farmers arent getting paid because of the impasse between Yingluck and her political foes, led by Suthep, and he wants the monarch to be aware that farmers are suffering.I want to ask the two opposing groups, Can you stop quarreling? said Pakasit, who faces mounting interest costs on his borrowings. We have to call for help. To contact the reporters on this story: Supunnabul Suwannakij in Bangkok atssuwannakij@bloomberg.net; Chanyaporn Chanjaroen in Singapore atcchanjaroen@bloomberg.net To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net
Vietnam's rice exports slump as prices rise

Business Desk
Viet Nam News Publication Date : 12-02-2014 Vietnam's rice shipments in January fell by 24 per cent compared with the same period last year even as export prices of the grain rose by 38.28 per cent.According to figures released by the Vietnam Food Association (VFA), Vietnam exported 307,255 tonnes of rice at US$415.14 per tonne in January. The export volume is 24.11 per cent lower and the price is $38.28 per kg higher than the same period of last year.Major exports were for the Philippines while shipments to China and African countries fell sharply. Meanwhile, demand for rice imports from traditional markets in the Southeast Asia ceased.Vietnam has maintained a large volume of fragile rice exports while shipping 25 per cent of its broken rice to the Philippines and 15 per cent to China.The country is expected to ship between 300,000 and 350,000 tonnes in February 2014. VFA has said Vietnam will face harsh competition from other rice export countries this year.According to the Department of Cultivation under the Ministry of Agriculture and Rural Development, between January 1 and February 8 this year, Mekong farmers sowed 1.58 million ha of the 1.6 million ha of rice cultivation areas under the 2013- 14 winter-spring rice crop. Of these, 200,000ha was grown by high yielding rice varieties.There are
three main factors that will affect the world rice markets this year. The first being the coming election in Thailand, one of the world's largest rice exporters. Secondly, the harvest of the winter-spring crop in Vietnam and lastly, demand from China and African countries which impact the global price of rice, said VFA.To reach the target of 7 million tonnes of rice exports in 2014, VFA has boosted rice exports to African countries. Vietnam's rice has been exported to 30 of the 55 African countries, including Ivory Coast, Ghana, Senegal, Angola, and Cameroon.According to a memorandum of understanding (MoU) signed between Vietnam and Guinea in 2013, Viet Nam will supply 300,000 tonnes of rice per year to Guinea, between April 1, 2013 and Dec 31, 2015.Another MoU on rice trade was signed between Vietnam and Comoros, under which Vietnam will ship 60,000 tonnes of rice to this African country between August 2013 and December 2015. The Ministry of Industry and Trade this year will organise trade delegations to Angola and Ivory Coast, with the aim of signing trade deals with these countries.
Vietnams Rice Export Revenue Dove 30.5% In January
Posted by: : Paul EbelingPosted on: February 12, 2014
Vietnams Rice Export Revenue Dove 30.5% In January Vietnam sold 307,000 tons of rice to overseas markets in the 1st month of Y 2014, for US$ 127.5-M, down 24.11% in volume and 30.5% in value, said a report by Vietnam Food Association (VFA).E-portal of Vietnamese government quoted VFA Tuesday as saying the country fulfilled the set plan of exporting rice in January at low level.Under this progress, VFA forecast Vietnam to export 300,000 to 350,000 tons of rice in
February, said the report.According to VFA, Vietnams rice exports went down in January due to the sharp decline of centralized procurement contracts from traditional markets of the Philippines, China and Africa.In January, Vietnams rice export prices remained basically stable. Specifically, 5% broken rice was sold at US$ 405 to 410 per ton, equivalent to that of Indian rice but higher than those of Thai and Pakistani rice due to limited supply from these exporters, said VFA report.
VFA quoted local experts as saying that they are expecting positive signals for Vietnamese rice exports in the coming time.The 1st good signal came from increasing rice supply with possibilities of Vietnamese exporters to use government inventory and harvest of Winter/Spring rice crop in Vietnam. The 2nd resulted from returning demands for Vietnamese rice from markets such as China and Africa, said VFA.
Yingluck to be charged over rice scheme this month

By Flynne Sanchez | February 12, 2014 at 11:30 AM
Thai Prime Minister Yingluck Shinawatra at a meeting at the Royal Thai Air Force headquarters in Bangkok on January 16, 2014. (AFP/Pornchai Kittiwongsakul) Yingluck to be charged over rice scheme this month: Thai Prime Minister Yingluck Shinawatra is expected to have formal charges brought against her by the National AntiCorruption Commission (NACC) over her role in the controversial rice-pledging scheme later this month, according to reports.An inquiry panel is expected to conclude its case and bring charges against Ms Yingluck, said NACC deputy secretary-general Witthaya Akhompitak on Tuesday, adding that the panel is currently collecting more evidence to substantiate its case. He said the NACC also intends to question unpaid rice farmers who have asked it to investigate the premier and the government, according to a Bangkok Post report.Mr Witthaya said that if the panel finds there is enough evidence, the prime minister would face charges of violating Section 157 of the Criminal Code for dereliction of duty.If she is charged, Ms Yingluck would be given the opportunity to defend herself before the panel sends the case to the main NACC panel, who would then make the decision on whether to indict her.If the main panel decides to indict her and bring the case to court, Ms Yingluck would be required to step down from all her official roles
.On January 16 the NACC launched an inquiry into Ms Yinglucks role in the rice-pledging scheme after formal corruption charges were brought against 15 people in government to government rice deals, including a former commerce minister and former deputy commerce minister.Ms Yingluck would face criminal charges if the investigation finds that she was negligent in her duties as chairwoman of the National Rice Policy Committee which oversees the rice-scheme programme.Ms Yingluck has denied claims that she refused to meet with farmers who have been protesting in Bangkok since last week, saying she directed the relevant ministers to explain the situation to the farmers because they knew all the details on the rice programmes implementation.
April Vote Leaves Thailand Locked in Limbo: Economy Tipped to Rot

By Lindsay Murdoch, Fairfax SE Asia Correspondent Wednesday, February 12, 2014 BANGKOK: Thailand's government will remain paralysed for months, raising the risk of further street violence and possible damage to the economy, after the country's Election Commission announced it would try to complete this month's disputed election in late April.Protesters blocked millions of people casting their ballots at the election on February 2 that was called to try to defuse months of sometimes violent political unrest. The announcement of April 27 re-runs came as the country's anti-corruption agency declared it expected to charge beleaguered prime minister Yingluck Shinawatra over a controversial rice subsidy scheme later this month.Ms Yingluck would be given a chance to defend herself but if the agency decides to indict her she would have to relinquish the positions she holds until the case was heard in the Senate, the country's upper house of parliament.Government supporters see the agency's pursuit of Ms Yingluck, Thailand's fist woman prime minister, as part of the judicial coup to force her from office.One of Thailand's elder statesmen Anand Panyarachun has warned the political impasse could lead the country of 64 million people into recession, forcing moves for political and democratic reforms to be sidelined. ''I do not see a quick end in the future,'' said Mr Anand, a two-time former prime minister.''And if this is allowed to continue much longer I fear that the economic and financial situation in our country will become much worse,'' he said.Former prime minister Thaksin Shinawatra, the focus of vitriolic attacks by anti-government protesters, also warned through his legal adviser he was worried about the economy, investment and tourism.Mr Thaksin, the elder brother of Ms Yingluck, is accused of running the country from Dubai where he lives to
avoid a jail sentence for corruption. He was quoted as saying during a visit to Myanmar that the government must carry on despite protests because ''democracy is the way of the future. ''Protesters have vowed to again attempt to block voters casting ballots in the re-run polls.The Election Commission, which government supporters accuse of being supportive of the anti-government movement, also warned there are doubts over the legality of re-staging voting and the whole election might have to be voided and re-run.The main opposition Democrat party boycotted the voting on February 2 which analysts now see as a tactical blunder because unofficial poll results showed a sharp fall in support for Ms Yingluck's ruling Pheu Thai party.Ms Yingluck's caretaker government has been crippled by protests blockading ministries while five key intersections in Bangkok have been occupied for weeks, disrupting traffic and business in the city of 12 million people. There is deep confusion about the government's constitutional powers while in caretaker mode, leaving governments largely dysfunctional.The government has been unable to raise funds to pay rice farmers under a widely criticised scheme that has alienated many of Ms Yingluck's former core supporters.Under the scheme farmers have been promised almost double the price of rice in the global market in a program associated with the populist policies of Ms Thaksin, a deeply polarising figure.The government has announced the scheme, which has cost Thailand up to $US12 billion ($13.3 billion), will end within weeks.''We are just a caretaker government, which has no power to extend any policy. The rice-buying scheme will end on February 28,'' said Varathep Rattanakorn, a minister in the prime minister's office.
Thai Court Rejects Opposition Bid to Throw Out Elections

An antigovernment protester wearing a mask painted in the Thai national colors in downtown Bangkok on Wednesday. The nation's Constitutional Court has rejected the opposition's bid to annul the Feb. 2 election.Reuters.BANGKOKPrime Minister Yingluck Shinawatra's government won a key victory Wednesday in the struggle to form a new administration when the Constitutional Court rejected a bid by the opposition to annul the Feb. 2 election. The ruling clears the way to hold new polls in districts that were unable to vote because of disruption by opposition boycotts and protests.
The independent Election Commission has set makeup voting to be held on April 20 and April 27 in those districts. However, the commission has yet to seek a way to hold voting for 28 electoral districts that haven't even been able to even register candidates because of opposition protests the scenario that has left the country short of the 95% threshold of the total 500 seats required to seat a new Parliament.The opposition Democrat Party's application to the court had maintained, among other things, that the election poll wasn't constitutional because voting wasn't conducted nationwide on the same day. The chief of the Democrat Party's legal team, Wiratana Kalayasri, said he "respects the court's opinion" but that he would petition the court again "should the government make any more mistakes. The court said it found no grounds to show the Feb. 2 poll could be violating the Constitution. However, Ms. Yingluck and her government still face a series of legal challenges, including an impeachment case against the embattled prime minister, for allegedly neglecting to prevent massive state losses in a multibillion-dollar rice subsidy that has benefited poor farmers. Ms. Yingluck headed up the rice-policy committee but has said that she delegated many tasks to ministers. Since the implementation of the rice program in October 2011, the government has been buying rice from Thai farmers at up to 50% above the market rate and withholding it from the world market in hopes of driving up global prices.The independent Election Commission reported last week that balloting was disrupted in 11% of electoral districts, mostly in Bangkok and southern Thailand strongholds of the Democrats. Nearly 48% of eligible voters cast ballots in 68 provinces where voting was held, while only a quarter of eligible voters did so in the Thai capital, where demonstrations against Ms. Yingluck's government have been held for months.Street demonstrations, led by a former deputy prime minister Suthep Thaugsuban, who resigned from the Democrats to lead the protests, have continued since November in an attempt to force Ms. Yingluck to leave office. The protesters want an unelected to council to run Thailand and overhaul the political system before elections are held.Thailand's politics have grown increasingly polarized over the past dozen years since Ms. Yingluck's family started to exercise power on the back of populist policies that have built an election-winning base among poor Thais in the populous north and northeast. Her elder brother, Thaksin Shinawatra, was deposed as premier in a military coup in 2006. He lives in exile to avoid arrest on a conviction for corruption that he says was politically motivated.Ms. Yingluck dissolved the House of Representatives in December before calling a snap poll to reassert her mandate in the face of the protests, which have the fervent support of many middle-class residents of Bangkok who deeply oppose the Shinawatras. The election has been widely expected to return her Pheu Thai Party to office,
though the Election Commission has said it won't release results until voting is carried out in the disrupted districts. Wilawan Watcharasakwet contributed to this article. Write to Nopparat Chaichalearmmongkol at nopparat.chaichalearmmongkol@wsj.com
Nagpur Foodgrain Prices Open- Feb 12

Wed Feb 12, 2014 3:31pm IST Nagpur, Feb 12 (Reuters) - Gram prices in Nagpur Agriculture Produce and Marketing Committee (APMC) showed weak tendency on lack of demand from local millers amid poor quality arrival. Fresh fall in Madhya Pradesh gram prices and increased supply in South-based gram mandis also pushed down prices in thin trading activity, according to sources. * * * *
FOODGRAINS & PULSES GRAM * Desi gram moved down in open market on poor demand from local traders amid increased supply from producing regions. TUAR * Tuar gavarani recovered marginally in open market on good demand from local traders amid tight supply from producing regions. * Watana dal quoted lower in open market on lack of demand from local traders amid release of stock from stockists. * In Akola, Tuar - 4,100-4,200, Tuar dal - 6,200-6,400, Udid at 6,000-6,300, Udid Mogar (clean) - 7,000-6,200, Moong - 8,000-8,200, Moong Mogar (clean) 9,400-9,600, Gram - 2,600-2,700, Gram Super best bold - 3,600-3,800 for 100 kg. * Wheat, rice and other commodities remained steady in open market in thin trading activity, according to sources. Nagpur foodgrains APMC auction/open-market prices in rupees for 100 kg
FOODGRAINS Available prices Previous close Gram Auction 2,200-2,300 2,270-2,340 Gram Pink Auction n.a. 2,100-2,600 Tuar Auction n.a. 3,900-4,000 Moong Auction n.a. 4,400-4,600 Udid Auction n.a. 4,300-4,500 Masoor Auction n.a. 2,600-2,800 Gram Super Best Bold 3,800-4,200 3,800-4,200 Gram Super Best n.a. Gram Medium Best 3,600-3,750 3,600-3,750 Gram Dal Medium n.a. n.a. Gram Mill Quality 3,200-3,400 3,200-3,400 Desi gram Raw 2,950-3,050 3,000-3,100 Gram Filter Yellow n.a. n.a. Gram Kabuli 7,900-10,300 7,900-10,300 Gram Pink 7,700-8,100 7,700-8,100 Tuar Fataka Best 6,400-6,700 6,400-6,600 Tuar Fataka Medium 6,000-6,200 6,000-6,200 Tuar Dal Best Phod 5,800-6,000 5,800-6,000 Tuar Dal Medium phod 5,400-5,700 5,400-5,700 Tuar Gavarani 4,050-4,150 4,000-4,100 Tuar Karnataka 4,200-4,300 4,200-4,300 Tuar Black 7,000-7,200 7,000-7,200 Masoor dal best 5,300-5,400 5,300-5,400 Masoor dal medium 5,000-5,200 5,000-5,200 Masoor n.a. n.a. Moong Mogar bold 8,700-9,950 8,700-9,950 Moong Mogar Medium best 8,800-9,200 8,800-9,200 Moong dal super best 8,500-8,800 8,500-8,800 Moong dal Chilka 7,900-8,200 7,900-8,200 Moong Mill quality n.a. n.a. Moong Chamki best 8,000-8,500 8,000-8,500 Udid Mogar Super best (100 INR/KG) 7,200-7,600 7,200-7,600 Udid Mogar Medium (100 INR/KG) 5,800-6,600 5,800-6,600 Udid Dal Black (100 INR/KG) 4,700-5,000 4,700-5,000 Batri dal (100 INR/KG) 4,000-5,000 4,000-5,000 Lakhodi dal (100 INR/kg) 3,000-3,100 3,000-3,100 Watana Dal (100 INR/KG) 3,100-3,200 3,250-3,350 Watana White (100 INR/KG) 3,200-3,300 3,100-3,200 Watana Green Best (100 INR/KG) 4,200-4,500 4,200-4,500
Wheat 308 (100 INR/KG) 1,800-1,900 1,800-1,900 Wheat Mill quality(100 INR/KG) 1,880-1,925 1,880-1,925 Wheat Filter (100 INR/KG) 1,750-1,950 1,750-1,950 Wheat Lokwan best (100 INR/KG) 2,100-2,550 2,100-2,550 Wheat Lokwan medium (100 INR/KG) 2,050-2,150 2,050-2,150 Lokwan Hath Binar (100 INR/KG) n.a. n.a. MP Sharbati Best (100 INR/KG) 3,100-3,600 3,100-3,600 MP Sharbati Medium (100 INR/KG) 2,500-2,900 2,500-2,900 Wheat 147 (100 INR/KG) 1,600-1,700 1,600-1,750 Wheat Best (100 INR/KG) 1,700-1,800 1,650-1,750 Rice BPT new(100 INR/KG) 2,800-3,200 2,800-3,200 Rice Parmal (100 INR/KG) 1,700-1,850 1,700-1,850 Rice Swarna old (100 INR/KG) 2,500-2,750 2,500-2,750 Rice Swarna new (100 INR/KG) 2,300-2,400 2,300-2,400 Rice HMT new (100 INR/KG) 3,700-4,200 3,700-4,200 Rice HMT Shriram (100 INR/KG) 4,600-4,800 4,600-4,800 Rice Basmati best (100 INR/KG) 11,000-13,500 11,000-13,500 Rice Basmati Medium (100 INR/KG) 6,300-7,600 6,300-7,600 Rice Chinnor (100 INR/KG) 5,500-5,800 5,500-5,800 Rice Chinnor new (100 INR/KG) 5,100-5,500 5,100-5,500 Jowar Gavarani (100 INR/KG) 1,400-1,600 1,400-1,600 Jowar CH-5 (100 INR/KG) 1,700-1,800 1,700-1,800 WEATHER (NAGPUR) Maximum temp. 31.2 degree Celsius (88.1 degree Fahrenheit), minimum temp. 15.2 degree Celsius (59.3 degree Fahrenheit) Humidity: Highest - n.a., lowest - n.a. Rainfall : nil FORECAST: Mainly clear sky. Maximum and Minimum temperature likely to be around 31 and 15 degree Celsius respectively. Note: n.a.--not available (For oils, transport costs are excluded from plant delivery prices, but included in market prices.)
Jayalalithaa terms service tax on rice storage discriminatory

SPECIAL CORRESPONDENT
The Tamil Nadu Chief Minister has stressed that service tax on rice storage and transport will add to the state's burden in public distribution. Photo shows paddy and rice being brought from Tiruvarur to Pudukottai for public distribution in February 2014.
Tamil Nadu Chief Minister Jayalalithaa has called upon Prime Minister Manmohan Singh to ensure that rice is "unambiguously" declared an agricultural produce and no process related to it is subject to service tax.Describing the Centre's decision to levy service tax on the storage of rice as "thoughtless, insensitive and discriminatory", the Chief Minister, in a letter to Dr Singh on Monday stated that "an invidious, discriminatory and completely unjust" situation had arisen as a result of an "extremely insensitive and regressive interpretation" of certain provisions of the Service Tax legislation, which had made the services such as storage and handling associated with rice liable to Service Tax. She warned that the move would raise the price of rice in the open market, particularly at a time when food inflation was already a burden on the common people. Moreover, it would distort markets completely given the proviso that if the storage of rice was in owned premises or in the premises of an Agricultural Produce Marketing Committee or Board or with a commission agent, no Service Tax would be levied on storage costs. However, if the storage was in the godowns of the Central or State Warehousing Corporations, the tax would be levied on storage, warehousing and handling charges. This would also add to the costs substantially when the National Food Security Act, 2013, was implemented, she added. "This will be an additional burden on the State Government towards the expense incurred for the Public Distribution System and weaken our efforts to provide food security to all," the letter said.The Chief Minister added that of all foodgrains, rice alone was sought to be subject to the tax. Citing a letter written by Union Finance Minister P. Chidambaram to Union Minister of State for Consumer Affairs and Public Distribution System K.V.Thomas, the Chief Minister said the Finance Minister had clarified that rice and ginned and baled cotton did not fall within the definition of agricultural produce under Section 65B(5) of the Finance Act. He had further stated that the negative list based on comprehensive approach to the taxation of services was introduced as a preparation for introduction of Goods and Services Tax (GST) and it was not feasible at this stage to further extend the scope of existing exemptions. "Accordingly, from December, 2013, service tax is being collected on storage of rice, with effect from 1st July, 2012."Calling Mr Chidambaram's stance "very strange," Ms Jayalalithaa said the Union Minister's position was that rice was not an agricultural product while other cereals including wheat were agricultural produce and hence, they were exempted from the levy of service tax on storage and other services. "It smacks of unfairness against people residing in certain regions of the country, especially in the South and the East where rice is the
staple food grain consumed," she said.Pointing out that from time immemorial, rice had been regarded as an agricultural commodity and that Tamil Nadu had already taken a clear stand in several fora that rice should be exempted from the levy of the GST, Ms Jayalalithaa said, "using the GST argument to refuse to include rice within the definition of agricultural produce is not an appropriate stance." Keywords: Service tax, rice, agricultural distribution, inflation produce, rice transport, rice storage, Tamil Nadu public
Govt rice auction met with bidding frenzy

Date : 12 2557
BANGKOK, 12 February 2014 (NNT) The Department of Foreign Trade (DFT) has opened an auction of 467,000 tons of rice from the governments stockpile amid a lively atmosphere, with up to 18 companies participating and more than 10 billion baht expected to be generated. According to DFT Director-General Surasak Riangkrul, the auction was organized to release the rice the government had accepted from farmers under the rice pledging scheme. The rice put up for grabs comprised in-season rice from the 2011-2012 harvest season and off-season rice from the 2012 and 2012-2013 harvest seasons. Out of the 467,000 tons, about 367,000 tons was for domestic sales while the other 100,000 tons was for export.
On this occasion, 20 envelopes were handed in by 18 bidders, 15 envelopes for domestic sales and the other 5 for export. Tomorrow, the committee in charge of releasing the stockpiled rice is scheduled to open all the envelopes and negotiate with each bidder in order to secure the best prices possible. Mr Surasak said the department expected to raise over 10 billion baht from this auction. To speed up the rice release, the director-general disclosed that the DFT would be holding as many as 2-3 rice auctions a month from now on, with the next lot of over 500,000 tons to be available for bidding next week. Mr Surasak said 2.2 million tons of rice had been auctioned off so far while about 170-180 billion baht had been generated and paid back to the Ministry of Finance.
Price fall hits agri exports

Issues differ across commodities but a common theme of the trade is a lack of sustained govt support, besides a lack of timely response to feedback Dilip Kumar Jha | Mumbai February 12, 2014 Last Updated at 22:33 IST
The recent decline in price of agricultural commodities in both the domestic and international markets has disappointed Indian traders.Prices of most agri commodities has seen a steady fall since December. Prices of maize and sugar have fallen 5.3 per cent and 5.7 per cent to close at Rs 1,227 and Rs 2,714 a quintal, respectively, in Delhis spot market. Sugar faces lack of policy support; bumper supply from Ameria hits Indias maize export potential.The recent downward price movement will be good for importoriented commodities, such as edible oil where our dependency is 50-55 per cent. This will help to lower the cost of imports. However, in the case of exportables like guar or corn (maize) or even sugar, lower prices would mean lower returns in the international market. The fear is of crop migration; farmers should not migrate to other crops because prices are low this season, said Madan Sabnavis, chief economist, CARE Ratings.After a significant boost initially, prices of rice (both basmati and non-basmati) have fallen by three to four per cent in two months. M P Jindal, president of the All India Rice Exporters Association, attributed this to settlement of differences between America and Iran, one of Indias preferred basmati export destinations.The US, one of the worlds largest producers, might start supply to Iran, post negotiations. But, our basmati rice will continue to capture Irans share. We hope the rice price and e xports rebound in March, he said.Shipment of basmati and non-basmati rice rose a marginal 0.75 per cent and 0.25 per cent to 2.7 million tonnes and 5.2 mt, respectively, in the first nine months of the current financial year.The recent wheat price fall by a marginal 0.6 per cent to Rs 1,650 a quintal offered an opportunity to compete with global prices. But, frequent change in government policies and poor quality of wheat hit Indias export potential. The government sometimes allows wheat exports and after a few months, bans it. Competing countries like Pakistan, the US and Brazil do not have such frequent policy changes. Global buyers prefer long-term deals. Therefore, India does not get adequate orders.
Also, Indias wheat is used preferably as cattle feed, due to poorer quality, said V imal Sethi, director of Pooja Trading Corporation, an Amritsar-based exporter.More than price fall, the edible oil industry was hit severely because of an inverse duty structure which made import of refined oil cheaper than crude oil. In 2012, India had imported 1.6 mt of refined oil, with a 7.5 per cent duty difference. With a reduction in the duty differential to five per cent, the import of refined oil jumped to 2.4 mt in 2013.Despite a 2.5 per cent increase in import duty on refined oil to 10 per cent now, the price difference between imported crude and refined vegetable oil works out to $20 a tonne as against the refining cost of $40-50, making refining unviable in India. For survival of the industry, the government must raise the import duty on refined oil to 14.5 per cent, said Vijay Data, president of the Solvent Extractors Association.The sugar industry faces a surplus of four mt. The proposed government subsidy might help in better realisation from exports. According to Abinash Verma, director-general of the Indian Sugar Mills Association, The industry has been waiting for assistance for two months. The window to produce and export raw sugar in this season will close in the next month. Therefore, the government should take prompt action.
Rice tumbles on stock sale call

Published: 12 Feb 2014 at 17.12 Online news: News
Rice farmer Pakasit Jamjaras usually spends his days tilling soil, just like his forefathers. Now hes been harvesting signatures instead of grain, with a petition to King Bhumibol Adulyadej because the government hasnt paid for his crop in five months.
"We are heavily indebted, Mr Pakasit, a 47-year-old father of three, said by telephone from Phichit province, about 350 km north of Bangkok. We need to repay suppliers of fertilisers and others.Thailand, once the worlds biggest exporter, is short of funds to help growers under Prime Minister Yingluck Shinawatras 2011 programme to buy the crop at above-market rates. After the government built record stockpiles big enough to meet about a third of global import demand, exports and prices have dropped, farmers arent being paid, and the programme is the target of anti-corruption probes. Political unrest may contribute to slower growth in Southeast Asias second-largest economy.Selling the government
inventory to pay farmers would flood the market with rice, eroding prices that in 2013 fell by the most in at least five years, and would escalate competition for shippers in Asia, including India, Vietnam and Cambodia.The programme is simply unsustainable and hurting the finances of the country, said Concepcion Calpe, a senior economist in Rome for the United Nations Food & Agriculture Organization. The suspension of the rice-pledging programme will exacerbate the decline in Thai market prices as farmers enrolled in the programme increasingly fail to be paid.
Violent protests
Protests against Ms Yingluck by farmers, who blocked roads in the provinces, added to opposition in Bangkok that led to deadly conflicts. Months of demonstrations led by Suthep Thaugsuban, a former opposition-party power broker, paralysed parts of the capital and disrupted a national election on Feb 2. Ms Yingluck heads a caretaker administration until a new government is formed. Thailand, a constitutional monarchy since 1932, had nine coups since 1946, when King Bhumibol assumed the throne.The price of Thai 5% broken white rice, a benchmark grade, tumbled 23% last year and was at $460 a tonne today. A slump to $370 by March is possible as more grain is offloaded from state granaries, according to Chareon Laothamatas, president of the Thai Rice Exporters Association. It may take about five years for the state stockpiles to be sold off, Mr Chareon said on Feb 5.
Stockpiles expand
Ms Yinglucks programme was intended to boost farmers incomes and lift prices when it began in October 2011. Instead, Thailand was dethroned as the top exporter as reserves surged. After exporting 10.65 million tonnes in 2011, shipments slid to 6.7 million last year, behind India and Vietnam, US Department of Agriculture data show. Shipments are seen at 8.5 million tonnes this year, the USDA forecasts.The government spent 689 billion baht ($21 billion) in the past two crop years buying from farmers at prices that were as much as 76% higher than current market rates. The USDA expects that Thai inventories will reach a record 14.7 million tonnes this year, compared with 6.1 million in 2010.As stockpiles grew, so did the strain on government finances. Moodys Investors Service said in June losses from rice subsidies were credit negative for Thailands sovereign rating. The International Monetary Fund, the global lender based in Washington, urged the government in November to replace the policy, saying that it was hurting confidence in public finances. Kittiratt Na-Ranong, Thailands finance minister at the time, responded to the IMFs assessment by saying that the government has our ways to help farmers.
Corruption probe
The National Anti-Corruption Commission said last month it will investigate Ms Yinglucks role as overseer of the programme, after finding enough evidence to charge 15 people, including former Commerce Minister Boonsong Teriyapirom. Mr Boonsong said on Jan 16 that the charge was unfair and he would fight it.After the commissions announcement, Chinas Heilongjiang province dropped a plan to buy 1.2 million tonnes from Thailand, a sign that the probe had eroded the confidence of the buyer, caretaker Deputy Prime Minister and Commerce Minister Niwatthamrong Bunsongphaisan said on Feb 4.Ms Yingluck defended the programme on
Feb 6, saying that over the past two years the government succeeded in lifting farmers incomes, according to a post on her Facebook page. Her caretaker government has limited authority, she wrote. Under the Thai constitution, a caretaker administration cant borrow new debt or commit to new loans that would obligate the next government.
Impeded payment
We have asked all related government agencies to solve the issues that impeded payment procedures, said Ms Yingluck, the sister of former Prime Minister Thaksin Shinawatra, who was ousted in the most recent coup in 2006 and still influences policy through the Pheu Thai party. The Finance Ministry is seeking legitimate loans under the legal restrictions for a caretaker government, while the Ministry of Commerce is auctioning stockpiles.Initially, state buying was popular among growers. A 2012 survey of 1,200 farmers by the University of the Thai Chamber of Commerce found 80% planned to stay with the programme the following crop year. The 5% grade climbed to $647 in November 2011, a three-year high.Thailand may not be able to find enough buyers for the stockpiles because major importers in Africa and the Philippines increasingly prefer grain from Vietnam and India, said Darren Cooper, a senior economist at the International Grains Council in London. A forecast for Thai exports at 8.2 million tonnes this year probably will need to be reduced, Mr Cooper said.
Pay us
The government must sell rice in the stockpile to pay us, said Ravee Rungruang, a leader of a farmers group in Ratchaburi province that blocked highways this month and joined other growers on Feb 6 to protest at the Ministry of Commerce. The government has ignored us.The protests led by Mr Suthep, as well as the unrest from farmers, are hurting the economy. The runup to the Feb 2 elections that were contested by Ms Yinglucks Pheu Thai party, dragged consumer confidence to a two-year low in December and forced the government to cut its 2014 growth forecast twice in less than a month, to 3.1% from 5.1%.The Thai economy probably expanded 0.2% in the fourth quarter from a year earlier, according to a Bloomberg survey of six economists, slower than a 2.7% gain in the previous three-month period. For the full year, GDP grew 2.8%, a separate survey showed.
Fiscal burden
The Pheu Thai party gained a political stronghold from farmers because of its rice policy, said Nipon Poapongsakorn, a distinguished fellow at the Thailand Development Research Institute, whos studied rice since the mid-1990s. Now its losing a voting base. This policy isnt sustainable as it damages the rice business and causes a huge fiscal burden.Theres also the risk that the government rice is in poor condition or spoiled. Quality of the grain deteriorates after two years in storage at room temperature in Thailand, according to Mr Chareon, president of the exporters association. He predicts inventories may reach 20 million tons this year, and that some of the grain is already too old or ruined to be sold.The government should let us check quality and volume in state warehouses for transparency, said Prasit Booncheuy, president of the Thai Rice Farmers Association, whose group joined protesters at the Commerce Ministry on the outskirts of Bangkok on Feb 6. We want the Commerce Ministry to speed up sales from stockpiles to pay farmers.
Stockpile sales
The government needs to pay 177 billion baht for about 10 million tonnes bought from farmers since October, caretaker Commerce Minister Niwatthamrong told reporters on Feb 6. About 700,000 tonnes from the past two years is slated for sale in auctions today and tomorrow, according to the ministry. In the worst case, if they decide to get rid of the programme and go back to the time when there was no mortgage scheme, it will put downward pressure on global prices, said Samarendu Mohanty, senior economist at the Los Banos, Philippine based International Rice Research Institute.A further drop in rice prices would help extend a decline in global food costs, which fell in January to a 19-month low amid ample supplies, according to a 55-item gauge compiled by the FAO. The measure is down 15% since touching a record in February 2011, and cereal prices tracked by the FAO lost 26% since September 2012. Rough-rice futures in Chicago fell 1% to $15.505 per 100 pounds over the past year.Mr Pakasit, the farmer from Phichit, gathered about 3,000 signatures in his plea to the 86-year-old king, whose portrait hangs in most homes and shops. Mr Pakasit said farmers arent getting paid because of the impasse between Ms Yingluck and her political foes, led by Mr Suthep, and he wants the monarch to be aware that farmers are suffering.I want to ask the two opposing groups, Can you stop quarrelling? said Mr Pakasit, who faces mounting interest costs on his borrowings. We have to call for help. In snap: A worker loads rice grains onto a truck at Srikobsub Co's rice mill in Nakorn Luang, Ayutthaya province, on Nov 27 last year. (Photo by Bloomberg)
NACC expected to charge PM over rice

Post Reporters
The National Anti-Corruption Commission (NACC) is expected to bring formal charges against caretaker Prime Minister Yingluck Shinawatra for her role in the rice-pledging scheme later this month. NACC deputy secretary-general Witthaya Akhompitak said yesterday that an inquiry panel is expected to conclude the case and bring charges against the premier. An NACC inquiry panel is currently obtaining more evidence to substantiate its case, he said. Mr Witthaya said the NACC will also question unpaid rice farmers who have asked them to investigate the prime minister and the government. He said if the panel finds there is enough evidence, Ms Yingluck would face charges of violating Section 157 of the Criminal Code for dereliction of duty. If she is charged, the premier will be given an opportunity to defend herself before the panel forwards the case to the main NACC panel, who would then decide whether to indict her. If the main NACC panel decides to indict her and take the case to court, she would be required to step down from all official roles.
On Jan 16, the NACC agreed to launch an inquiry into the role of Ms Yingluck when a panel decided to bring formal corruption charges against 15 people involved in government-togovernment rice deals, including former commerce minister Boonsong Teriyapirom and former deputy commerce minister Poom Sarapol. The premier will face criminal charges if the investigation finds that she was negligent in her duties as chairwoman of the National Rice Policy Committee, which oversees the scheme. Commissioner Vicha Mahakhun previously said the NACC agreed that the case against Ms Yingluck concerned a government policy issue. He said the inquiry panel has grounds to believe Ms Yingluck may have learnt about problems affecting the rice scheme, but failed to stop them.
Court rejects petition to void Feb 2 election

Published: 12 Feb 2014 at 18.25 Online news: Local News The Constitution Court on Wednesday rejected a petition asking that it rule on whether the Feb 2 elections were constitutional.The petition was lodged by Wirat Kanlayasiri, a former Democrat MP for Songkhla. He asked the court to void the controversial general election, citing Section 68 of the charter, which penalises the exercise of rights and liberties to acquire ruling power through unconstitutional means. In his complaint, Mr Wirat argued that the poll did not take place on the same day nationwide as required by the constitution.He claimed the caretaker government's invocation of the emergency decree in Bangkok and nearby areas was an act that enabled the Pheu Thai Party to use administrative power to take advantage over its political rivals in the election.The court dismissed the petition, saying there was no credible evidence that the poll violated Section 68 of the charter. Court proceeds with 2-trillion-baht loan case The Constitution Court also rejected a petition filed by Pheu Thai spokesman Prompong Nopparit against antigovernment People's Democratic Reform Constitution (PDRC) leaders including Suthep Thaugsuban.In the petition, the court was asked to rule whether the PDRC leaders had acted in a way to topple a democratic administration under the monarchy, or to take the country's administration through unconstitutional means in violation of paragraph 1 of Section 68 of the constitution.The court was also asked to order the PDRC leaders
not to do anything to obstruct new rounds of voting being held by the Election Commission (EC) and to leave government offices and public places they have occupied. The court threw out the petition on the grounds the PDRC's protests are a show of opposition to the amnesty bills and the government's handling of the country's administration, not to overthrow a democratic administration or to take power through unconstitutional means.As for the alleged law violations by the PDRC, the court stated that they should be subject to normal legal action under the Criminal Code.Meanwhile, caretaker Deputy Prime Minister and Foreign Minister Surapong Tovichakchaikul called on EC member Somchai Srisutthiyakorn to stop "talking nonsenses" and quickly start preparing for the follow-up vote for MPs.Mr Surapong, as an adviser of the Centre for Mantaining Peace and Order (CMPO), said commmissioner Somchai should stop passing the responsibility to the government and do his job instead."The CMPO is ready to facilitate and provide security but it appears that the EC doesn't want the poll to take place," he said.Mr Somchai, who is in charge of electoral management, previously said that the EC did not have the authority to schedule a new election day in the 28 southern constituencies where there were no candidates in the Feb 2 election, and believed the government was legally empowered to do so. The EC can only hold a new election in constituencies where voters were blocked from casting ballots on Feb 2, he said.On Wednesday, EC secretary-general Puchong Nutrawong said the commission had sent a letter to the government asking it to issue a new royal decree to authorise the EC to hold the poll in the 28 constituencies which had no candidates.Mr Puchong said the EC will need the authority to hold a registration of election candidates running in the 28 constituencies, to prepare new ballots for these constituencies and to exempt voting outside the country and the 28 constituencies.
Rice Exports From India Climbing to Record on Mideast Demand

By Prabhudatta Mishra February 12, 2014
Rice shipments from India, the worlds largest producer after China, will probably expand to a record as buyers from Iran to Saudi Arabia boost purchases of aromatic basmati grain used in biryani and pilaf dishes.Exports are set to increase 7.8 percent to 11 million metric tons in the 12 months through March from a year earlier, said M.P. Jindal, president of the All India Rice Exporters Association. Sales of basmati may jump 14 percent to 4 million tons as cargoes of non-basmati varieties advance 4 percent to 7 million tons, he said in a phone interview.Shipments are increasing from India as Thailand, once the worlds biggest supplier, is also set to boost exports. The Southeast Asian country has built record stockpiles big enough to meet about a third of global import demand under a buying program that started in 2011. Farmers are demanding the government sell the reserves to pay for their crop.
India has an edge over other countries because of quality and price competitiveness, said Faiyaz Hudani, an associate vice president at Kotak Commodity Services Ltd., a Mumbai-based broker. When the output is high and the pace of growth is stable, there is no cause of concern.Rising sales may benefit Indian shippers such as KRBL Ltd. (KRB), LT Foods Ltd. (LTFO) and Kohinoor Foods Ltd. (KFL) India is targeting production of 106.3 million tons in the year through June, compared with a record 105.3 million tons in 2011-2012, according to the Agriculture Ministry. The harvest would add to global inventories estimated at 109 million tons in 2013-2014 by the London-based International Grains Council. Thai Stockpiles The price of Thai 5-percent broken white rice, a benchmark grade, fell 23 percent in 2013, the most in at least five years, and was at $460 a ton yesterday. A slump to $370 by March is possible as grain is offloaded from state granaries, according to Chareon Laothamatas, president of the Thai Rice Exporters Association. Roughrice futures on the Chicago Board of Trade rose 0.6 percent to $15.625 per 100 pounds yesterday. Thailand may not be able to find enough buyers for its stockpiles because major importers in Africa and the Philippines increasingly prefer grain from Vietnam and India, according to Darren Cooper, a senior economist at the council. Thailand will try to dispose of the stockpiles at whatever price it gets, said B.V. Krishna Rao, managing director of Pattabhi Agro Foods Pvt., an Indian exporter. Shipments may not be affected by rising Thai sales as the two countries catered to different markets, he said. Basmati Demand The U.S. Department of Agriculture expects Thai inventories to reach a record 14.7 million tons this year, compared with 6.1 million in 2010. Shipments will probably be 8.5 million tons, the USDA forecasts.Basmati rice exports from India are climbing as Iran is building reserves, said Jindal at the exporters association. Sales to Iran jumped to 1.28 million tons in the nine months through December, exceeding the 1.07 million tons for whole of 2012-2013, according to the association. The country is Indias biggest buyer of basmati and imports 1.5 million tons annually.
The price of basmati was good this year and overseas demand was more throughout the year from all countries including Iran and Saudi Arabia, Jindal said on Feb. 4. Exports to Iran are higher as it buys for keeping certain reserves. India supplies 65 percent of the overseas basmati rice market, while Pakistan accounts for the rest, according to the state-run Agricultural and Processed Food Products Export Development Authority. Saudi Arabia and Iran are the two major buyers of Indian basmati, while Africa is a major destination for non-basmati varieties. To contact the reporter on this story: Prabhudatta Mishra in New Delhi at pmishra8@bloomberg.net To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net
World Rice News 02.12.2014

12.02.2014
Myanmar rice companies benefit from Thai expertise. Rice in Myanmar is not just a staple food for its people, it is also one of the country's key industries. It is believed that in 2011 alone, Myanmar's rice sector contributed about 13 per cent of the country's GDP. That GDP figure will only grow provided Myanmar partners other reputable international rice firms, like those in neighbouring Thailand. Nay Lin Zin, joint secretary of the Myanmar Rice Millers' Association, said: "Nowadays, Thailand people very interested to invest in Myanmar and to cooperate with us because of Thailand's political instability and the price of Thai rice, (which is) higher than other competing rice exporting countries." In recent months, many Thai rice exporters have been introducing their clients to Myanmar companies. *** Philippine rice shipped to Oman. SL Agritech Corp. (SLAC) expects to ship out within this month its maiden cargo of 19.3 metric tons of its Doa Maria fancy rice to Oman. Company chair Henry Lim Bon Liong said in a statement that this augured well for Philippines rice export prospects, considering that the Omani capital, Muscat, is an important trading center between Asia and Europe as well as North America. *** China, has decided to cancel the contract on importing 1.2 million tons of rice from Thailand. Vietnamese hope they can be the alternative suppliers. According to Bloomberg, China is one of the biggest Thai rice importers.
The Thai government has been buying rice at high prices from farmers in the subsidy program over the last two years. It now needs to sell the stockpile rice for money to pay farmers. *** India has now emerged as the worlds top rice exporter. A good monsoon along with improved sowing of both Kharif (summer) and Rabi (winter) Rise crops have improved the prospects of a better food grains production this year. The country is likely to achieve record 263.2 million tons food grains production this year, Farm Minister said. *** Vietnam planned to shift part of the country's rice area to cultivate other crops, mostly corn and soya, Vietnamese Minister of Agriculture and Rural Development (MARD) Cao Duc Phat said Wednesday. In 2013, Vietnam had total rice planting area of 7.9 million hectares and 1,157 ha of corn, said the minister, adding that there are too much rice areas while the country has to import nearly 4 million tons of corn and soya yearly. So around 130,000 ha of rice will be shifted to cultivation of other crops, mostly corn and soya.
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