6th march,2014 daily global rice e newsletter by riceplus magazine

6th March , 2014

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Gov’t will continue to import rice, says DA exec
Rice prices drop to 8,000 - 8,200 baht per ton
New farmers’ tool to cut fertilizer cost
Nigeria: Importers Demand Implementation of U.S.$190 Duty On Imported Rice
FAO Food Price Index sees sharpest rise in months
Asia Rice-Prices Set to Fall on Rising Supply, Thin Demand
Vietnam to stockpile 1 million tonnes of rice to stop price slide
Govt eyes AFET as channel of rice distribution
Rice gains aroma on bulk buying
Nagpur Foodgrain Prices Open- Mar 06
Nigerian Government backtracks on rice policy, may backtrack on vehicle policy
PM seeks to delay rice graft testimony
BAAC's new rice scheme: pay farmers to halt crop
Global market awaits cheap Thai rice
Vietnam to stockpile 1m tonnes of rice

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NEWS DETAILS:
Gov’t will continue to import rice, says DAexec
By Ronnel W. Domingo
Philippine Daily Inquirer8:50 am | Friday, March 7th, 2014
The government is set to continue importing milled rice this year even as the country renews its push for selfsufficiency, according to Agriculture Secretary Proceso J. Alcala. INQUIRER FILE PHOTO
MANILA, Philippines—The government is set to continue importing milled rice this year even as the country
renews its push for self-sufficiency, according to Agriculture Secretary Proceso J. Alcala.The agriculture chief,
however, told reporters that there was no decision yet on how much would be imported.“Definitely we will
import—we can‟t say we won‟t—but we are still studying the volume,” Alcala said, adding that the volume
being reported in the media was mere “gossip.”Importation is necessary because the government missed its goal
of attaining self-sufficiency in rice production by 2013, he explained.Aside from that, Alcala said, the release of
large volumes from the National Food Administration‟s stockpile in the wake of Super Typhoon Yolanda led to
an “abnormal” situation where the biggest part of available domestic supply was in the hands of the private
sector.
According to the latest data from the Bureau of Agricultural Statistics, the Philippines started the year with a
stock of 2.12 million metric tons (MT) of rice, 13 percent (270,000 MT) of which was with the NFA.
Households kept 1.27 million MT (about 60 percent) while commercial warehouses held 580,000 MT (27
percent).The NFA is mandated to maintain a buffer stock that should last for 15 days which, at a national
consumption rate of 34,000 MT daily, is about 500,000 MT.Last January, the United States Department of
Agriculture (USDA) said it increased the expected volume of Philippine imports by 200,000 MT to 1.4 million
MT as the government beefed up its buffer stock.
The USDA‟s Economic Research Service (ERS) said in a report that the revised forecast was based on data
from the US Agricultural Office in Manila, which indicated that Philippine government planned to increase its
stockpile.In February, the NFA announced it had started accepting private-sector rice importers‟ application for
quota allocations totaling 163,000 MT, which would be shipped into the country this year.This refers to
country-specific quota under the minimum access volume that the Philippines has committed to the World
Trade Organizations.Based on the country‟s commitments, the Philippines‟ allocation would be spread among
Thailand (98,000 MT), India and China (25,000 MT each), and Australia (15,000 MT).In a memorandum to
prospective applicants, NFA Administrator Orlan A. Calayag said each importer could apply for a minimum
allocation of 2,000 MT and a maximum of 5,000 MT for the entire year.

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Rice prices drop to 8,000 - 8,200 baht per ton
Date : 7 มีนาคม 2557
BANGKOK, 7 Mar 2014, (NNT) - The prices of rice have dropped to the range of 8,000 - 8,200 baht per ton for
grain with 15% moisture content, according to the media reports, predicting that prices may dive even further
down to 7,000 baht per ton. Rice millers are now offering the said prices only for off-season rice, as rice
farmers have begun to unload their freshly harvested crops, the reports indicated, citing the 7,000 baht per ton
price is the lowest level in 6 years. Currently, rice traders are keeping their eyes on the government‟s policies on
the management of its stockpile of rice, as its rice pledging scheme will soon come to an end. Analysts pointed
out that the government might rush to sell the stockpiled rice to obtain the money to pay rice farmers who have
yet to receive the rice pledging program money, forcing the prices to drop further. According to the Commerce
Ministry‟s record, the price during the first 3 months of 2009 was quoted at 2,125 baht per a 100-kilogram sack
of white rice; currently, millers offer only 1,475 for each 100-kilogram sack.

New farmers’ tool to cut fertilizer cost
By Ferdie G. Domingo | Mar. 06, 2014 at 12:01am

SCIENCE CITY OF MUNOZ, Nueva Ecija --- The Philippine Rice Research Institute (PhilRice) called on
agriculture extension workers to assist farmers gain access to “Nutrient Manager,” a computer program that
could bring down farm expenses by 50 percent, officials said.Crispulo Bautista Jr., regional technical director
for operation and extension, said the program could help farmers bring down their fertilizer cost per season
from P5,000 to P3,000.“I‟m confident that farmers will not spend more than P3,000 on fertilizers should they
apply the recommendations of the Nutrient Manager,” Bautista said.“I encourage the extension workers to help
the farmers access this new tool because this will also help them increase their income,” he said.Under the
program, farmers will be required to answer 15 questions either in English, Tagalog, Ilocano, Cebuano,
Hiligaynon, or Bikolano.
The Nutrient Manager will make recommendations based on answers to the questions.The extension workers
will be crucial in helping the farmers navigate the Internet and respond to the questions. The program is easy to
use and the questions have been simplified for the benefit of the farmers.Dr. Nenita Desamero, training head,
said the Nutrient Manger is a product of 15 years of research on site-specific nutrient management and
“recommendations are based on very extensive studies conducted in different locations in the country.”Project
researcher Charisma Love Gado said a survey conducted among extension workers showed that the
recommendations by the Nutrient Manager were found to be reliable.“In spite of its novelty, preference towards
the Nutrient Manager is surprisingly quite higher than other tools used in identifying the right amount and time
of applying fertilizers,” Gado said.

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Nigeria: Importers Demand Implementation of U.S.$190 Duty On Imported
Rice
Key rice distributors, importers and other relevant stakeholders in Nigeria have urged the Federal Government to
quickly implement the 2013 benchmark of $190 per metric ton duty on imported rice.The stakeholders under the
aegis of Rice Millers, Importers and Distributors Association of Nigeria (RiMIDAN) said the non--implementation
of the 2013 benchmark has made the country a dumping ground for smuggled rice from neighbouring countries.The
rice stakeholders noted regrettably that that USD570 remains the duty for rice in Nigeria despite international price
crash and stiff competition from the Benin Republic."Though the Government reviewed the dutiable price on rice,
the measure was yet to be implemented leading to dislocations and unease within the rice industry in Nigeria."They
argued that because of the non-implementation of the benchmark of $190 per metric ton duty on imported rice that
Benin Republic deliberately crashed dutiable rate to USD200 per ton.The action of Benin Republic has made the
place a haven of sorts for smugglers of the product into Nigeria.
Mr. Tunji Owoeye, President of RiMIDAN, said apparent inaction of the federal government has made it impossible
to improve the value chain on rice, less than 100,000 tonnes of rice were legally imported into Nigeria last year.He
said at a meeting last year with government officials" we all agreed to introduce palliative duty and incentive in the
sector to reduce smuggling of rice. Somewhere along the line someone is holding the entire nation to ransom." We
urged Mr. President, as a listening leader to intervene in the issue, quote me any where smuggling is not only
affecting the farmer but it is rather killing them." he said.Meanwhile, the body has resolved to alert government
agencies and functionaries such as the Nigeria Custom Service, Special Fraud Unit of the Nigeria Police, and the
Economic and Financial Crimes Commission, EFCC, among others, on those dealing with smuggled rice so that the
law would take its course.
As part of the resolutions at a stakeholders meeting recently, the body promised to inform various bodies and
relevant government agencies on the need for action as they agreed to continuously collaborate and work together
towards sanitising the sector which they said has been taken over by unscrupulous people due to the inaction of the
federal government on the agreed duty.Mr. Tunji Owoeye, President of RiMIDAN, speaking with journalists at the
end of the meeting disclosed that the Federal Government has assured that it would soon resolve every contentious
issue in the rice business in order to boost economy and make those in the sector to survive.

FAO Food Price Index sees sharpest rise in months
Source: UN Food and Agriculture Organisation - Wed, 5 Mar 2014 11:00 AM
Author: UN Food and Agriculture Organisation

Any views expressed in this article are those of the author and not of Thomson Reuters Foundation.
6 March 2014, Rome - Weather-related events and increased demand came into play as the FAO Food Price
Index registered its sharpest increase since mid-2012, averaging 208.1 points in February 2014. The new level
is 5.2 points, or 2.6 percent, above a slightly revised index for January, but is still 2.1 percent lower than last

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year at the same time. The figures were released amid news reports of spikes in wheat and corn prices in
response to recent developments in Ukraine, though the February increase in the Index cannot be entirely
attributed to those events. The Index, based on the prices of a basket of internationally-traded food
commodities, saw price upticks in all commodity groups, with the exception of meat, which fell marginally. The
strongest increases since January have been seen in sugar (+6.2 percent) and oils (+4.9 percent), followed by
cereals (+3.6 percent) and dairy (+2.9 percent).
"This month's increase follows a long period of declining food prices in general. But it's too early to say if this
is a true reversal of the trend," said Concepción Calpe, FAO Senior Economist. "The weather is probably a
major force driving up prices for certain commodities like sugar or wheat, but brisk demand is also an important
factor underpinning maize, dairy and oil prices" Calpe added. The FAO Cereal Price Index averaged 195.8
points in February, up 6.8 points, or 3.6 percent, from the previous month. The price bounce reflected mainly
concerns over wheat crops in the United States, a strong demand for coarse grains for both feed and biofuel and
high Japonica rice prices. Still, cereal prices remain, overall, 18.8 percent below their level in February last
year. Vegetable oils averaged 197.8 points in February, up 9.2 points (or 4.9 percent) from January, amid
concerns over unfavourable weather in Southeast Asia and South America, and buoyant demand worldwide,
including demand for palm oil from biodiesel producers.
Dairy averaged 275.4 points in February, a rise of 7.7 points, or 2.9 percent, over January and meat averaged
182.6 points in February, only 0.5 points below the revised January level. Following a three-month decline,
sugar prices recovered in late February, prompted by concerns of crop damage from dry weather in Brazil and
recent forecasts pointing to a potential drop of output in India. The FAO Sugar Price Index averaged 235.4
points in February, up 13.7 points, or 6.2 percent, from January. Cereal production and consumption FAO also
released its Cereal Supply and Demand Brief, noting a favourable early outlook for wheat production in 2014.
With some winter wheat crops already developing, FAO's first forecast for world wheat production in 2014
stands at 704 million tonnes.
This would represent a drop of 1.7 percent from the 2013 record harvest, but it would still be the second largest
crop ever. With the bulk of the coarse grains and paddy crops yet to be planted, it was still too early for a
preliminary forecast of global cereal output in 2014. As for 2013, the latest estimate for world cereal production
stands at a record 2 515 million tonnes (including rice in milled terms), 13 million tonnes above the February
forecast and 9 percent more than the 2012 level. The latest upward adjustment reflects primarily a significant
revision to the estimates for Australia and also upward revisions to the figures for wheat and coarse grains in
China. The expected increase in global cereal production in 2013 has already resulted in more affordable prices,
which in turn are boosting utilization and trade in 2013/14, and helping to replenish world stocks. As a result,
the cereal stock-to-use ratio is now estimated to be approaching 24 percent in 2014, its highest level since
2002/03.
AMIS Market Monitor The newly released AMIS Market Monitor noted that "while the increase of
geopolitical tensions in the Black Sea region amplify uncertainty in the markets, bumper crops in several major
producing countries are likely to boost supplies and to result in much higher world stocks in 2014 for maize,

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wheat, rice and soybean." The soybean outlook remained favourable even as conditions in South America
deteriorated due to adverse weather conditions. Positive production outlook for Low-Income Food-Deficit
Countries Preliminary prospects for cereal production in Low-Income Food-Deficit Countries were looking
generally favourable for 2014, according to the new Crop Prospects and Food Situationreport, released by
FAO's Global Information and Early Warning System (GIEWS). Favourable 2014 crop prospects were
expected to bring some improvement in a number of countries in Southern Africa, following previous low
harvests.
Tighter maize supplies and high food prices have been affecting access to food there, mostly among vulnerable
population groups. However, several countries continue to grapple with food insecurity under emergency
conditions. They include the Syrian Arab Republic, with an estimated 6.3 million people facing severe food
insecurity; Yemen, where 45 percent of the population is estimated to be food insecure; South Sudan, where 3.7
million people are estimated to be in need of emergency assistance; and, the Central African Republic, where
crop production in 2013 declined sharply due to civil insecurity and nearly one-third of the rural population was
estimated to be in need of food assistance. In West Africa, the overall food security situation has remained
stable following an above-average 2013 cereal harvest, but over 20 million people are estimated to be in need of
food assistance due to insecurity and reduced crops in parts of the Sahel.
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a
comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse
links. Views expressed in the comments do not represent those of the Thomson Reuters Foundation. For more
information see our Acceptable Use Policy.

Asia Rice-Prices Set to Fall on Rising Supply, Thin Demand
By Apornrath Phoonphongphiphat on 1:44 pm March 6, 2014.
Category Business, Commodities, Featured
Tags: Asian Rice Prices, Indonesia rice production

Bangkok. Asian rice prices slipped and were set to keep dropping on limited demand and with harvests
beginning as Thailand‟s intervention scheme grinds to a halt, traders said on Thursday.Thailand‟s common
grade 5-percent broken white rice stood at $420 per tonne, down from last week‟s $435-$440.“There are no
positive factors to support prices. Farmers have started harvesting the second crop and the government buying
scheme has expired,” said a Bangkok-based trader.Farmers in Thailand have started reaping their second crop,
with around 10 million tonnes of rice coming onto the market.Thailand‟s rice-buying scheme, under which the
government paid farmers around 50 percent above market prices for paddy, expired on Feb. 28 and the
caretaker government has no power to renew it.Traders said there were some small orders from the Middle East
and Africa, but these were not big enough to help support prices at a time when supply was rising.
In Vietnam, prices also dropped as farmers began gathering the winter-spring crop in the Mekong Delta, the
country‟s main growing area, with harvesting expected to peak around mid-March.Vietnam is the world‟s

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second-largest rice exporter after India.Agriculture Minister Cao Duc Phat last week told a cabinet meeting that
domestic firms would on March 15 start a month-long purchase of rice for stockpiling, a state-run newspaper
reported.“In recent weeks fresh supplies were low and there was no significant buying,” said a trader in Ho Chi
Minh City, adding that the harvest had been quickening in recent days.Vietnamese 5-percent broken rice was
quoted at $375 a tonne, on a free-on-board basis, down from last week‟s $380-$400 for loading from the second
half of April.
— Additional reporting by Ho Binh Minh in Hanoi

Vietnam to stockpile 1 million tonnes of rice to stop price slide
Deutsche Presse-Agentur
Hanoi March 6, 2014 1:08 pm
Vietnam, the world's second-largest rice exporter, will stockpile one million tonnes of rice in the winter-spring
crop to help boost prices, authorities said Thursday.The stockpile will run from March to mid-April, the
Vietnam Food Association said, which will affect Vietnam‟s biggest rice-producing region, the Mekong
Delta.Around 10.3 million tonnes of unhusked rice is expected to be produced in the Mekong Delta during this
period, the Ministry of Agriculture and Rural Development (MARD) said.
Export volume fell sharply in the first two months of this year and is predicted to remain low in the coming
months due to weak demand in the global market and strong competition from other rice exporters, including
Thailand, India and Myanmar.A number of rice exporters have asked the government to boost exports to
countries including China, Indonesia and the Philippines.Vietnam plans to export 7 million tonnes of rice this
year, up from 6.88 million tons, worth 2.89 billion dollars, last year.

Govt eyes AFET as channel of rice distribution
Date : 6 มีนาคม 2557
BANGKOK, 6 March 2014 (NNT) - The Agricultural Futures Trading Commission (AFTC) will promote sales
of rice in an agricultural futures market as a way to help distribute rice and pay farmers in the government‟s rice
pledging program. Permanent Secretary for Commerce Srirat Rasthapana, in her capacity as chairperson of a
subcommittee under the AFTC, said the AFTC needed to connect with international markets, raise its regulation
standards, support the distribution of rice in government warehouses via the Agricultural Futures Exchanges of
Thailand (AFET) and create understanding among agricultural entrepreneurs.

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Ms Srirat added that she especially agreed with the distribution of rice in government warehouses via the AFET
since it was a transparent and fair method. The official also urged all stakeholders to work proactively in
promoting rice auction in the AFET and stressed that it was important for agricultural entrepreneurs to learn
more about the AFET so that they could plan their rice production and rice trade accordingly. The AFTC also
had to formulate plans in preparation for the launch of the AEC with a focus on the Chinese market, one of
Thailand‟s major importers of agricultural produce, the permanent secretary said.

Rice gains aroma on bulk buying
OUR CORRESPONDENT
KARNAL, MARCH 6:

The rice market was mixed with Pusa-1121 and Sharbati rice varieties improving by ₹
50-200 a quintal on
Thursday, while all other aromatic and non-basmati varieties managed to rule firm at their previous levels.Amit
Chandna, proprietor of Hanuman Rice Trading Company, told Business Line that fresh buying by bulk buyers
mainly pushed Pusa-1121 and Sharbati varieties back in to positive territory. Bulk buyers have taken advantage
by buying at those levels, he added.Traders expect rice prices to continue to be range-bound but within a
positive territory. The market may witness some buying in the coming weeks.
In the physical market, Pusa-1121 (steam) improved by ₹
100 and sold at ₹
8,700-8,900, while Pusa-1121 (sela)
quoted at ₹
7,800, ₹ up. Pure Basmati (Raw) quoted at ₹
50
12,200 . Duplicate basmati (steam) sold at ₹
7,000.
Pusa-1121 (second wand) was at ₹
7,100, Tibar at ₹
6,150 while Dubar at ₹
5,000 a quintal.
In the non-basmati section, Sharbati (Steam) went up by ₹
200 and sold at ₹
5,000 while Sharbati (Sela) quoted
at ₹
4,600 , ₹
100 up. Permal (raw) sold at ₹
2,320, Permal (sela) at ₹
2,340, PR-11 (sela) sold at ₹
2,700 while
PR-11 (Raw) at ₹
2,600. PR14 (steam) sold at ₹
2,950 a quintal.
(This article was published on March 6, 2014)

Nagpur Foodgrain Prices Open- Mar 06
Thu Mar 6, 2014 3:45pm IST
Nagpur, Mar 6 (Reuters) - Gram and tuar prices in Nagpur Agriculture Produce and Marketing
Committee (APMC) firmed up again on renewed demand from local traders amid weak supply from producing
regions because of unseasonal rains. Further rise on NCDEX, upward trend in Madhya
Pradesh gram prices and weak overseas arrival also pushed up prices, according to sources.
*
*
*
*
FOODGRAINS & PULSES
GRAM
* Gram Kabuli reported strong in open market on increased seasonal demand from local

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traders amid weak overseas supply.
TUAR
* Tuar varieties ruled steady in open market here matching the demand and supply
position.
* Batri dal shot up here in open market on good demand from local traders
amid thin arrival from producing regions.
* In Akola, Tuar - 3,800-4,000 , Tuar dal - 6,000-6,200, Udid at 6,000-6,300,
Udid Mogar (clean) - 7,000-6,200, Moong - 8,100-8,300, Moong Mogar
(clean) 9,500-9,700, Gram - 2,900-3,000, 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
2,680-2,900
2,600-2,830
Gram Pink Auction
n.a.
2,100-2,600
Tuar Auction
3,880-4,050
3,825-3,950
Moong Auction
n.a.
6,100-6,300
Udid Auction
n.a.
4,300-4,500
Masoor Auction
n.a.
2,600-2,800
Gram Super Best Bold
3,900-4,100
3,900-4,100
Gram Super Best
n.a.
Gram Medium Best
3,400-3,600
3,400-3,600
Gram Dal Medium
n.a.
n.a.
Gram Mill Quality
3,450-3,500
3,450-3,500
Desi gram Raw
3,150-3,250
3,150-3,250
Gram Filter new
3,200-3,500
3,200-3,500
Gram Kabuli
8,100-10,500
7,900-10,300
Gram Pink
7,700-8,100
7,700-8,100
Tuar Fataka Best
6,300-6,500
6,300-6,500
Tuar Fataka Medium
6,000-6,100
6,000-6,100
Tuar Dal Best Phod
5,800-5,900
5,800-5,900
Tuar Dal Medium phod
5,400-5,700
5,400-5,700
Tuar Gavarani
3,950-4,050
3,950-4,050
Tuar Karnataka
4,150-4,250
4,150-4,250
Tuar Black
7,200-7,400
7,200-7,400

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Masoor dal best
5,400-5,500
5,400-5,500
Masoor dal medium
5,100-5,300
5,100-5,300
Masoor
n.a.
n.a.
Moong Mogar bold
9,700-9,950
9,700-9,950
Moong Mogar Medium best
9,300-9,500
9,300-9,500
Moong dal super best
8,600-8,900
8,600-8,900
Moong dal Chilka
8,000-8,300
8,000-8,300
Moong Mill quality
n.a.
n.a.
Moong Chamki best
8,200-8,700
8,200-8,700
Udid Mogar Super best (100 INR/KG) 7,500-7,800
7,500-7,800
Udid Mogar Medium (100 INR/KG) 6,000-6,800
6,000-6,800
Udid Dal Black (100 INR/KG)
4,900-5,200
4,900-5,200
Batri dal (100 INR/KG)
4,400-5,000
4,200-5,000
Lakhodi dal (100 INR/kg)
3,200-3,300
3,200-3,300
Watana Dal (100 INR/KG)
3,300-3,400
3,300-3,400
Watana White (100 INR/KG)
3,300-3,400
3,300-3,400
Watana Green Best (100 INR/KG) 4,400-4,700
4,400-4,700
Wheat 308 (100 INR/KG)
1,700-1,800
1,700-1,800
Wheat Mill quality(100 INR/KG) 1,840-1,890
1,840-1,890
Wheat Filter (100 INR/KG)
1,650-1,850
1,650-1,850
Wheat Lokwan best (100 INR/KG) 2,400-2,500
2,400-2,500
Wheat Lokwan medium (100 INR/KG) 2,000-2,200
2,050-2,200
Lokwan Hath Binar (100 INR/KG) n.a.
n.a.
MP Sharbati Best (100 INR/KG) 3,000-3,600
3,000-3,600
MP Sharbati Medium (100 INR/KG) 2,400-2,900
2,400-2,900
Wheat 147 (100 INR/KG)
1,600-1,700
1,600-1,700
Wheat Best (100 INR/KG)
1,700-1,750
1,700-1,750
Rice BPT new(100 INR/KG)
2,600-2,950
2,600-2,950
Rice BPT old (100 INR/KG)
3,000-3,500
3,000-3,500
Rice Parmal (100 INR/KG)
1,700-1,850
1,700-1,850
Rice Swarna old (100 INR/KG)
2,500-2,800
2,500-2,800
Rice Swarna new (100 INR/KG)
2,300-2,400
2,300-2,400
Rice HMT new (100 INR/KG)
3,800-4,200
3,800-4,200
Rice HMT old (100 INR/KG)
4,400-4,800
4,400-4,800
Rice HMT Shriram (100 INR/KG) 4,700-5,000
4,700-5,000
Rice Basmati best (100 INR/KG) 12,000-14,500
12,000-14,500
Rice Basmati Medium (100 INR/KG) 6,600-8,000
6,600-8,000
Rice Chinnor (100 INR/KG)
5,500-6,000
5,500-6,000
Rice Chinnor new (100 INR/KG) 5,200-5,500
5,200-5,500
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

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WEATHER (NAGPUR)
Maximum temp. 28.3 degree Celsius (82.9 degree Fahrenheit), minimum temp.
18.7 degree Celsius (65.6 degree Fahrenheit)
Humidity: Highest - n.a., lowest - n.a.
Rainfall : 0.8 mm
FORECAST: Partly cloudy sky. Rains or thunder-showers likely towards evening or night. Maximum
and Minimum temperature likely to be around 26 and 18 degree Celsius respectively.
Note: n.a.--not available
(For oils, transport costs are excluded from plant delivery prices, but included in market prices.)

Nigerian Government backtracks on rice policy, may backtrack on vehicle
policy
Premium Times,Published: March 5,2014

Import duty on rice will be reviewed from the current 110 per cent.

The Minister of Finance, Ngozi Okonjo-Iweala, on Wednesday
said the Federal Government has decided on a downward review
of tariff on importation of rice.Mrs. Okonjo-Iweala, who disclosed
this while answering questions at the „Budget 2014 Jam‟, in Abuja
said that the drop in the tariff would reduce smuggling of the
commodity into the country.Budget 2014 Jam is a youth online
programme where the minister answers questions on the Federal
Government‟s 2014 budget from youths across the nation.The
three-day programme, which began on Tuesday, is organised by the Ministry of Finance in Collaboration with
IBM Technology, a telecommunication firm
.The minister said that the existing 110 per cent duty on the importation of rice was encouraging smuggling of
the commodity into the country.“We increased the tariff to110 per cent, and it encouraged some people to go
and grow rice and we grew 1.1 million metric tonnes of the product.“But it also encouraged smuggling by
neighboring countries because they immediately dropped their own tariffs to 10 per cent,” she said.She added
that the rice issue was similar to tariff on importation of used vehicles, saying “we are watching it now to see
what the appropriate tariff to be paid on it will be.‟‟“For rice, we decided to bring it down because we see that it
is not working,” she said.

Cell # 92 321 369 2874

Mrs. Okonjo-Iweala explained that the government had decided to encourage the automobile industry to ensure
that vehicles were manufactured in the country.She said that the government spent a lot of money on
importation of cars, adding that such expenditure had to be halted to encourage indigenous production of
vehicles.“We have our own indigenous Innoson, who has been manufacturing cars. First, it started with
assembling of the cars but now 50 per cent of his car parts are manufactured from scratch here in this
country.“And, we said that if we can do this, why can‟t we invite other people to manufacture cars here and sell.
For that, we are giving them some incentives to bring in some parts that they will need, free of duty.“We are
also increasing the tariff but that‟s a very tricky area. We are watching it to see what the appropriate tariff
should be,‟‟ she said.Mrs. Okonjo-Iweala called on Nigerians to be patient with government as it was being
cautious with the vehicle importation tariff, saying that the government would not want to record smuggling of
vehicles as being done for rice.
(NAN)

PM seeks to delay rice graft testimony
Published: 6 Mar 2014 at 16.32
Online news: Politics
Caretaker Prime Minister Yingluck Shinawatra will ask the National Anti-Corruption Commission (NACC) to
postpone the March 14 deadline for her response to rice-pledging graft charges, Pheu Thai's legal adviser said
on Thursday.The NACC announced its decision to charge Ms Yingluck for dereliction of duty in relation to the
rice scheme last month.The caretaker premier was called to acknowledge the charge at its office in Nonthaburi
on Feb 27, but assigned her lawyers to go on her behalf.Under the rules of the anti-graft agency, Ms Yingluck
can offer an explanation on the matter within 15 days of acknowledging charges, or by March 14.She is
permitted to testify by herself or can submit an explanation letter, according to the NACC.Caretaker Science
and Technology Minister Peerapan Palusuk and a Pheu Thai legal adviser said the premier is likely to seek the
agency‟s approval to postpone the testimony date, since a large number of documents related to the rice
programme must be compiled and prepared for her defence.On Tuesday, Ms Yingluck's lawyer went to the
NACC's office to ask permission to copy documents relating to the investigation on her behalf, saying the
premier could not do so herself because of ongoing political problems and work in the North of the country. The
NACC approved the request later that day.

BAAC's new rice scheme: pay farmers to halt crop
Published: 6 Mar 2014 at 00.05,Newspaper section: Business

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The state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC) is urging the government to
introduce a direct subsidy to encourage farmers to stop growing rice for the current second crop.Such a move
would be aimed at preventing new supply that would add pressure on the already-falling market price.BAAC
president Luck Wajananawat said any additional supply would sink paddy prices further.Grains are being sold
at a low price now that the market realises Thailand has an enormous rice stockpile and the caretaker
government must hasten rice sales to pay more than 1 million farmers.Local paddy prices range from 6,500 to
7,500 baht a tonne for 20% moisture content and 8,000 to 8,500 a tonne for 15% moisture content.Mr Luck said
many developed economies such as the US and Europe offer direct subsidies that prod farmers to grow
alternative crops.
Nipon Poapongsakorn, a Thailand Development Research Institute fellow, echoed Mr Luck, saying farmers
growing rice for the 2013-14 second crop could suffer greatly from a sharp fall in selling price compared with
the pledging price offered by the Pheu Thai-led government, which has run out of authority to buy rice from
farmers under the rice pledging scheme.Yingluck Shinawatra's government started the scheme with a pledging
price 40-50% higher than market prices in October 2011.After sharp criticism over the hefty losses incurred, the
government last year set a lower price for second-crop paddy of 13,000 baht a tonne, capped at 300,000 baht per
household. The second crop runs from March 1 to Sept 30, 2014.Mr Nipon suggested the government set up a
committee to separate good-quality rice from subpar rice and destroy the latter to cut supply and boost prices.In
related news, Mr Luck said 150,000 farmers who received pledging invoices before last Dec 9, when the House
was dissolved, will be paid once the Election Commission allows the caretaker government to use 20 billion
baht from the state's contingency budget to pay farmers.Farmers who got their invoices after Dec 5 will remain
unpaid. The government's debt owed to farmers will decline to about 70 billion baht.In a bid to step up raising
funds to pay farmers, Surasak Riangkrul, director-general of the Foreign Trade Department, yesterday
announced the government had signed a government-to-government (G-to-G) deal with China to sell 1 million
tonnes of rice.The agreement was inked by Mr Surasak and high-ranking officials of the state-owned China
National Cereals, Oils and Foodstuffs Corporation during a visit to Beijing this week.The pact covers several
types of Thai grains, with delivery due within 12 months. The first shipment of 400,000 tonnes is scheduled
between now and July. Thai authorities expect 100,000 tonnes to be shipped in March alone.Details of the deal's
value and the prices paid were not disclosed, as per usual.Charoen Laothammatas, president of the Thai Rice
Exporters Association, said the latest G-to-G rice deal is credible since the amount is insignificant compared
with China's daily rice consumption of 200,000 tonnes."The deal, if true, at least gives a good sign to the
market," he said. "China will likely buy more Thai rice if it wants to help Thailand, which is now plagued with
negative reports about rice."

Global market awaits cheap Thai rice
Published: 6 Mar 2014 at 11.55,Online news: Local News

Rice traders on the world market have temporarily paused dealing to wait for the Thai government to sell its
stockpile cheap to repay a 20 billion baht loan to finance the rice-pledging scheme, according to an exporter of
the grain.Chookiat Opahaswongse is warning Thai rice prices will further drop due to tougher competition.The

Cell # 92 321 369 2874

Election Commission (EC) has approved the caretaker government's plan to
disburse 20 billion baht from the Central Fund to pay farmers long-overdue
money for pledged rice crops.However, the government must pay back all the
money before May 31, 2014.Chookiat Ophaswongse, honorary president of the
Thai Rice Exporters Association, said the price of 5% broken rice price from
Thailand had dropped by US$20 a tonne, from $435-445 three weeks ago to
$415-425 a tonne.The price of Thai parboiled rice has also fallen by $15 a tonne
in one week, from $460-470 to $445-455 a tonne.He predicted that the price of
Thai rice would drop further in the near future since Vietnam‟s second-crop rice
would be harvested from the middle of March onwards. Vietnam is expected to produce more than 10 million
tonnes of unmilled rice this harvest.At the same time, rice producing countries including India and Pakistan also
hold significant stocks to be released onto the world market. As a result, tougher competition is expected and
prices are likely to be pressured down, he said.The price of 5% white rice from Vietnam is currently between
$385-395 a tonne, while India selling its equivalent at $415-420 and Pakistan at $395-405.“Rice buyers have
stopped purchasing as they wait for cheaper prices, particularly after the Election Commission set the deadline
for repayment of the 20 billion baht at the end of May. This means that Thailand has to sell more than two
million tonnes in the market. When buyers realised this, they decided to wait to buy cheaper rice,” said Mr
Chookiat.The Thai Foreign Trade Department on Wednesday announced a government-to-government deal
with China to sell one million tonnes of rice, with an agreement inked by the department and the state-owned
China National Cereals, Oils and Foodstuffs Corporation in Beijing this week.

Vietnam to stockpile 1m tonnes of rice
Published: 6 Mar 2014 at 14.01,Online news: News

HANOI - Vietnam, the world's second-largest rice exporter, will stockpile 1 million
tonnes of rice in the winter-spring crop to help boost prices, authorities said
Thursday.A Vietnamese farmer tends his rice field next to a power and manufacturing
facility just outside Ho Chi Minh City. The world's second-largest rice exporter will
stockpile 1 million tonnes of rice in the winter-spring crop to help boost prices.
(Bloomberg photo).The stockpile will run from March to mid-April, the Vietnam
Food Association said, which will affect Vietnam's biggest rice-producing region, the
Mekong Delta.Around 10.3 million tonnes of unhusked rice is expected to be
produced in the Mekong Delta during this period, the Ministry of Agriculture and
Rural Development said.Export volume fell sharply in the first two months of this
year and is predicted to remain low in the coming months due to weak demand in the global market and strong
competition from other rice exporters, including Thailand, India and Myanmar.A number of rice exporters have
asked the government to boost exports to countries including China, Indonesia and the Philippines.Vietnam
plans to export 7 million tonnes of rice this year, up from 6.88 million tonnes, worth US$2.89 billion (94 billion
baht) last year.

Cell # 92 321 369 2874

6th march,2014 daily global rice e newsletter by riceplus magazine

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