30th january,2014 daily g lobal rice e newsletter by riceplus magazine

30th January , 2014

TOP Contents - Tailored for YOU
Latest News Headlines…
 Basmati WARS
 Farm Bill expected soon; would impact rice farmers
and provide some help for drought
 House passes farm bill preserving crop subsidies,
slightly curbing food stamps
 Arkansas Rice Council holds annual meeting
Thursday
 Nueva Vizcaya agri office resumes rice sufficiency
efforts
 State bank employees wear black against govt’s rice
scheme






 FCI, IICPT to tie up to ascertain paddy outturn ratio
in eleven states
 Indonesian ministry to investigate Vietnam rice
imports
No loans to pay for rice
Nagpur Foodgrain Prices Open-Jan 30
Buying interest pushes Pusa up
Rice loan bids moved to today

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NEWS DETAILS:

Basmati WARS
| Updated: Jan 30 2014, 03:15 IST

India and Pakistan not agreeing on whether the fragrant basmati rice is something that can be registered for Geographical
Indication (GI) is one thing, to have a difference within different states of the country is quite another. Indeed, adding more fun
to this battle, as FE reported Tuesday, the Agricultural and Processed Food Products Export Development Authority (APEDA),
which operates under the agriculture ministry, said it plans to oppose Madhya Pradesh’s claim that the rice it grows also be
included under the GI tag—if India has to be able to register the basmati GI in the US for instance, as it has done for Darjeeling
tea and Kashmiri pashmina, it has to be registered in the country first.
Till now, matters were relatively simple given the handful of states, in north India primarily, that grew basmati—for some
reason, however, the registration process was never completed. Scientists in Madhya Pradesh, however, claim that they have
grown the exact same strain—with the same grain quality and aroma—and so need to be included. The whole point of a
geographical indication, as the name suggests, is that it is native to a region, not that a product grown in another region has the
same qualities. With India’s rice exports touching R21,000 crore in FY14, however, it’s no surprise Madhya Pradesh wants to
be part of the elite basmati club—after all, it raises the per unit yield.

Farm Bill expected soon; would impact rice farmers and provide some
help for drought
By HEATHER HACKING-Staff Writer
POSTED: 01/30/2014 12:11:25 AM PST

WASHINGTON, D.C. -- The House of Representatives Wednesday passed the
939-page Farm Bill, with the Senate expected to do the same next week.As
California heads into a harsh planting season amidst a drought, the Farm Bill will
help.Rayne Pegg, manager of the California Farm Bureau Federation, said the bill
contains a number of provisions that aid livestock producers harmed by weather
disaster, including cattle, honeybees and farmed fish. Some provisions are
retroactive.A tree assistance program is also available for disasters including
drought, fire, freeze and earthquake, Pegg noted.For farmers of staple crops,
including rice, wheat, corn and soy, the farm bill does away with direct payments.

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"It is a new day growing rice in the Sacramento Valley, said Tim Johnson, president of the California Rice
Commission.In the past, growers "could count on every year getting some payment on production of a crop."Instead,
growers will need to choose between a revenue protection program or a price loss program. Johnson explained that
this would set a floor of $16.10 per 100 pounds of rice, and applies to 85 percent of acres.Right now, the average
cost to produce 100 pounds of rice in California is $19, according to UC Cooperative Extension, Johnson said.
Growers will need to choose one program or the other for five years, he said.Growers of all crops, including
commodities or specialty crops, can also buy crop insurance, which is subsidized by the federal government.But this
insurance won't be available until 2015, which won't help with the upcoming crop season.Johnson said a lot of
number crunching will be done to make decisions. The Rice Commission is working to create online calculators for
growers.Funding for specialty crops, including nuts and nurseries in California, includes funding for research and
marketing, Pegg of the California Farm Bureau said.
The bill also "recognizes that there are risks in diseases being introduced into our livestock herds."
Funding will also likely include research labs, with UC Davis on the list.Help with marketing farm products overseas
amounting to $200 million is also included, Pegg said."It's a huge bill for conservation," Pegg continued.Many
landowners work through the Environmental Quality Incentives Program (EQIP), which pays incentives for
voluntary land practices.Food stamps were among the big issues with the bill's passage. The Senate and House went
back and forth battling these numbers.In the end, $8 billion has been cut from the Supplemental Nutrition Assistance
Program (SNAP) over the next 10 years.Most of that savings comes from states that tie eligibility for food stamps to
heating bill programs, the Associated Press reported.
The cuts are estimated to reduce SNAP payments by $90 a month for about 850,000 households.The bill also
prohibits the Agriculture Department from spending money on ads to recruit food stamp beneficiaries. Also out are
illegal immigrants and college students.The full bill is nearly $1 trillion, with an estimated $16.6-$23 billion over 10
years vs. the 2008 Farm Bill.The bill also restores taxes paid to counties for government land.The bill passed the
House 251-166. Both local congressmen John Garamendi, D-Fairfield, and Doug LaMalfa, R-Richvale, voted for the
bill in the House.
Contact reporter Heather Hacking at 896-7758, hhacking@chicoer.com, or on Twitter @HeatherHacking.
Photo: Rice harvest gets underway at the Gorrill Ranch in Durham on Sept. 13, 2013.(Bill Husa/Staff File...

House passes farm bill preserving crop subsidies, slightly curbing
food stamps
Cell # 92 321 369 2874

The House on Wednesday approved a nearly $100 billion-a-year farm bill that would make small reductions in the
growth of food stamp spending while continuing generous subsidies for the nation's farmers. The vote was 251-166.
The five-year bill now goes to the Senate for final approval. Leaders scheduled a quick vote after the nearly 1,000page bill was introduced Monday, giving opponents little time to build opposition. Agriculture Committee chairman,
Rep. Frank Lucas, R-Okla., and Senate Agriculture Chairwoman Debbie Stabenow, D-Mich., have spent the past
two years crafting a bill to appeal to members from all regions of the country, including a boost in money for crop
insurance popular in the Midwest; higher rice and peanut subsidies for Southern farmers; and renewal of federal land
payments for Western states. Some House conservatives were not happy with the new bill.
They originally wanted to dial back food stamp spending by $4 billion a year; the new bill cuts $800 million a year -which represents about 1 percent of the $80 billion-a-year program. The final food stamp savings are generated by
ending a practice in some states of boosting individual food stamp benefits by giving people a minimal amount of
federal heating assistance they don't need. The cuts were brought down to $800 million a year to come closer to the
Senate version of the bill, which had $400 million in annual food stamp cuts. The House bill passed in September
would have cut $4 billion a year. The legislation would also eliminate a $4.5 billion-a-year farm subsidy called direct
payments, which are paid to farmers whether they farm or not.
The bill would continue to heavily subsidize major crops -- corn, soybeans, wheat, rice and cotton -- while shifting
many of those subsidies toward more politically defensible insurance programs. That means farmers would have to
incur losses before they received a payout. The bill would save around $1.65 billion annually overall, according to
the Congressional Budget Office. The amount was less than the $2.3 billion annual savings the agriculture
committees originally projected for the bill.
The Associated Press contributed to this report.

Arkansas Rice Council holds annual meeting Thursday
By The Associated Press

This article was published January 30, 2014 at 7:07 a.m.
TUTTGART — The Arkansas Rice Council and Arkansas Rice Farmers are focusing on waterfowl
conservation and rice production at their annual meeting and trade show.The event takes place Thursday at the
Grand Prairie Center in Stuttgart.Ducks Unlimited Chief Executive Officer Dale Hall is scheduled to headline
the event. USA Rice President and CEO Betsy Ward is expected to provide an update on USA Rice activities
and future efforts to promote the rice industry.The event runs from 9 a.m. to 1 p.m.

Cell # 92 321 369 2874

Nueva Vizcaya agri office resumes rice sufficiency efforts
BY: BENJAMIN MOSES M. EBREO
Thursday 30th of January 2014
BAYOMBONG, Nueva Vizcaya, Jan. 29 (PIA) – The Provincial Agriculture Office (PAgrO) continue to
follow the path on food sufficiency in the province through the provision of certified seeds, infestation
prevention trainings, rice technology demonstration and empowerment for farmers.Alexander Domingo, PAgrO
officer-in-charge said that from March to October 2013 alone, they have distributed 580 certified seeds to
farmers in various municipalities of the province.During the last quarter of last year, PAgrO also closely
monitored the occurrence of rat infestation in the province and conducted rat management trainings and baiting
techniques including the provision of rodenticides to 500 farmers.
In fact, we also assisted in the transformation of farmers in turning destructive eels that damaged their
ricefields into a profitable alternative source of income in collaboration with the Department of Agriculture
(DA), Bureau of Fisheries and Aquatic Resources (BFAR) and affected local government units,‖ he
said.PAgrO also extended support on the establishment of 45 Farmer Led Extension Techno Demo Farms
showcasing the complete package of technology for the attainment of 7 tons production of rice per hectare.With
the province’s rice sufficiency program, the province, Domingo added was adjudged for the second tme as the
national winner in the Search for Rice Achievers Awards together with the towns of Aritao and Solano.On the
Search for Agricultural Extension Workers (AEWs), the province bagged 23 awards with 4 wiiners from
the PAgrO, 8 in Aritao town, 8 in Solano town 2 in Bagabag town and 1 from Kayapa town.―With these, our
province got P4 million incetive, P1 million each for the two municipalities and P20,000.00 each for the 23
AEWs,‖ Domingo said. (BME/PIA 2-Nueva Vizcaya)

State bank employees wear black against govt’s rice scheme
Thursday, 30 January 2014By MCOT

BANGKOK, Jan 20 -- Members of the Labour Union of Thailand's state-owned Government Savings Bank (GSB) have dressed
themselves in black to voice their opposition against any decision allowing the caretaker government to borrow GSB funds

to finance the controversial rice pledging scheme.The bank's union met today with large numbers of its
members dressed in black, while banners have also been put up throughout the GSB’s headquarters on
Phahonyothin Road in oppose to lending money to the scheme.Government Savings Bank union chairman
Likhit Klinthanom said most employees disagreed with the ideas despite the government’s direct and indirect
efforts in trying to borrow money to finance the programme’s funding.Mr Likit warned that if the caretaker
government tries to press ahead to secure the loans, union members would thoroughly scrutinise its move in
order to protect customer savings.According to Mr Likhit, the union has clearly voiced their opposition against
the government’s ongoing attempt to pressure the GSB to loan money as payment for farmers who sold rice to
the government’s stockpiles.Union members nationwide will later submit an official letter to the Public Debt
Management Office and the GSB Labour Union nationwide in a bid to pressure the government to call off its
attempt.

Cell # 92 321 369 2874

FCI, IICPT to tie up to ascertain paddy outturn ratio in eleven states
Thursday, January 30, 2014 08:00 IST
Our Bureau, New Delhi

The Food Corporation of India (FCI), a public sector unit (PSU), inked a memorandum of understanding (MoU)
with the Indian Institute of Crop Processing Technology (IICPT), Thanjavur - an educational research and
deveopment institution founded in 1967 - at the former’s headquarters in New Delhi to ascertain the outturn
ratio (OTR) of paddy. ―The study would be conducted in eleven paddy-producing states of India,‖ said C
Viswanath, FCI’s chairman and managing director. The states are Andhra Pradesh, Bihar, Chhattisgarh, Punjab,
Haryana, Maharashtra, Orissa, Tamil Nadu, Uttar Pradesh, West Bengal and Kerala.
FCI initiated the study on behalf of the Centre, based on requests from various states for fresh trial milling and
fixation of uniform OTR. Viswanath added that the objectives of the study were to determine the OTR and
ascertain the milling yield of rice from paddy and the quality of milled rice obtained in different agro-climatic
zones in the states.It aimed to attend to the long-pending demand of the rice milling industry as well as the state
governmentss to refix the OTR, keeping in view the introduction of new varieties of paddy in country, as well
as advancements in rice milling technologies.While FCI was represented at the inking of the MoU by Seema
Kakar, its executive director (quality control), and the institute was represented by K Singaravadivel, its
principal scientist. Viswanath and IICPT’s director, K Alagusundaram, were also present.

Indonesian ministry to investigate Vietnam rice imports
Thu, January 30 2014 22:12 | 537 Views
Yogyakarta (ANTARA News) - Chief Economic Minister Hatta Rajasa has ordered the Trade Ministry and the
Agriculture Ministry to investigate the illegal entry into Indonesia of Vietnamese rice."I have met with
Agriculture Minister Suswono and the trade deputy minister, asking them to investigate the case soon," Hatta
Rajasa said here on Thursday.The minister added that there were indications of abuse of import permits. Based
upon the permits, the importers were not allowed to import medium category rice."From the aspect of
agriculture and trade, there is nothing wrong with it.
The licenses have correctly been issued. But the importers who used the licenses might have abused them,"
Hatta stated.He noted that the licenses should be used only for importing certain types of rice.The minister was
responding to a report on illegal rice imports discovered at the Cipinang wholesale market, East Jakarta, noting
that the price of the illegal rice was less expensive than the price of farmers rice.It was also reported that the
Vietnamese rice was brought into the country using legal documents from the directorate general of external
trade of the Ministry of Trade.Hatta stressed that the government had never issued a permit for individuals to
import rice. Therefore, he was convinced that the rice that came from Vietnam had been imported illegally.The
government has only issued a license for rice imports to state-owned logistics board Bulog as a market price
stabilizer.Bulog was assigned by the government to import rice or to purchase it from farmers to guarantee
proper rice stocks are kept in storage."The license to import rice will be issued for Bulog only, except for the
importation of certain types of rice for foreigners and for others.

Cell # 92 321 369 2874

It is Bulog that has the authority to import it," the minister said.In the meantime, the Indonesian customs
authorities are investigating the alleged abuse of permits to import Vietnamese rice, which had sparked a debate
at the Cipinang wholesale market in East Jakarta."The Directorate General of Customs and Excise will soon
take anticipatory steps in response to the alleged abuse (of the rice import permits) at an operational level in the
customs service and supervision system," Director General of Customs and Excise Susiwijono Moegiarso stated
in a press statement released on Tuesday.He noted that the import of 16.9 thousand tons of rice complied with
standing procedures and rules, as well as having been given import approvals, surveyors reports and automated
reconciliation from the Indonesian National Single Window portal.However, he did not rule out the possibility
of the import permits being abused on the grounds that the permits included written approvals intended to
import special rice, instead of general rice, which can be imported by state logistics board Bulog."This has
happened as the HS codes of the two types of rice are the same: 1006.30.99.00. The Directorate General of
Customs and Excise is investigating the alleged abuse of the import permits, including the audit of the surveyors
reports," he explained.Under the Trade Ministers Regulation No.06/M-DAG/PER/2/2012, the import of rice,
with headings 1006.30.99.00, can be performed only by Bulog, with approval from the ministry, to stabilize
prices, cope with a state of emergency, provide subsidized rice for the poor, or address food scarcity issues.
Last year, the ministry issued a permit to import 16.9 thousand tons of special rice, consisting of 1,845 tons of
the Basmati variety and 14,997 tons of the Japonica variety.According to the Directorate General of Customs
and Excise, the rice imports from Vietnam have been shipped 83 times and involved 58 importers, other than
Bulog. The rice was imported via Tanjung Priok port in North Jakarta and Belawan port in North
Sumatra.Further, the rice imports were supported by import permits and surveyors reports.On Tuesday, Trade
Minister Gita Wirjawan pledged to take stern measures against abusers of rice import permits, explaining that
the permits were issued according to standing procedures and recommendations from the Agriculture
Ministry.However, he added that the Trade Ministry had yet to find evidence pointing toward the abuse of rice
import permits.***2***
A014/INE/H-YH)
(EDITED BY INE)
(T.A014/A/KR-BSR/A/H-YH) 30-01-2014 20:05:06
Editor: Priyambodo RH

No loans to pay for rice
Suphanee Pootpisut,
Petchanet Pratruangkrai
The Nation January 31, 2014 1:00 am

Cell # 92 321 369 2874

Pheu Thai may pay the price at the ballot box for failure to pay farmers
The caretaker government suffered a major
setback yesterday when it failed to secure
massive loans to pay farmers ahead of
Sunday's election. The government seeks
loans to pay for crops farmers sold months
ago under its flagship rice-pledging
programme.This bad news is likely to hit the
ruling Pheu Thai Party hard at the ballot box,
after many rice farmers threatened to boycott
the election or vote against the party if they
were not paid before the election.Leaders of
farmers' groups from all over the country
agreed yesterday to start protesting on the
streets tomorrow if the government fails to settle what it owes to farmers by today, said Songpol Poonsawat,
who represents farmers in Ang Thong."This is our response to the government's failure to pay attention to our
suffering.
We farmers have been waiting for too long," he said.The government yesterday opened bidding for the first
batch of Bt130 billion to be raised through short-term loans. Many of the 34 financial institutions invited by the
Finance Ministry avoided the bidding, as there is no clarity on whether the lending would be legitimate. A
Finance Ministry source said it would open the next round of bidding for Bt40 billion in loans.The next weekly
bidding session is scheduled for Tuesday."Though some banks joined the bidding, high interest rates were
offered, which included risks. This made the Public Debt Management Office [PDMO] cancel the bidding this
time," the source said.Had the auction succeeded, farmers who mortgaged their paddy with the government
under the scheme would have been paid by today, as the government claimed - two days ahead of the general
election on Sunday.
As scheduled, the first batch of loans from financial institutions under the auction arranged by the PDMO for
the Bank for Agriculture and Agricultural Cooperatives (BAAC) totalled Bt20 billion with a 15-year tenor. The
open bidding will be made every Tuesday with offers to be submitted before 10am.The bidding is part of the
Bt130-billion funding that the caretaker government is seeking to pay off farmers. The PDMO designed a
schedule to gradually borrow from financial institutions up to Bt30 billion a week via bidding until the total
amount would reach Bt130 billion as needed.The PDMO's loan bidding arrangement came after the Council of
State gave the opinion that the Finance Ministry could proceed with the Bt130- billion borrowing plan. The
ministry had asked for legal advice on whether it was eligible to get that amount of loans as carrying loans. Piti
Tantakasem, chief wholesale banking officer of TMB Bank, insisted that the bank has not participated in the
loan auctions for the BAAC because some legal issues needed further study, and the approval of the bank's
credit committee was needed. Teeranun Srihong, co-president of Kasikornbank, cited the same reason, saying
the bank did not join the bidding, as it could be not verified legally.

Cell # 92 321 369 2874

A source from the banking industry said banks had discussed among themselves by phone and agreed that the
auction was not a suitable way of lending and that it could affect depositors' trust. However, the Finance
Ministry reportedly threatened the banks with revoking their right to be the ministry's primary dealer if they
didn't join the auction.Despite the disappointment from the government's aborted bridge-financing bidding, the
Commerce Ministry has high hopes that foreign banks would be interested. Caretaker Deputy Commerce
Minister Yanyong Phuangrach said the state-owned banks' employees were worrying too much about the
lending. They should concern themselves more about the farmers who have been not yet been paid, and allow
the banks to lend money. "The government should be able to earn money and pay farmers as soon as possible,
while it may consider not allowing state-run banks to join the rice-pledging project in the future," he said.
Caretaker Commerce Minister Niwatthumrong Boonsongpaisan said seeking funds to support the rice-pledging
scheme is the responsibility of the Finance Ministry, while the Commerce Ministry would accelerate selling rice
from the state's stockpiles to earn money to pay off the unpaid farmers for paddy pledged.However,
Niwatthumrong could not disclose how long it would take or how much money the ministry could make from
rice releases to pay the farmers. Wichian Phuanglamchiak, president of the Thai Agriculturist Association, has
called on employees of government banks to be more sympathetic towards farmers, as millions of them have
suffered from the delay in payment under the pledging scheme since October."Farmers are suffering
tremendously from the late payment under the pledging scheme. We owe the BAAC, fertiliser and pesticide
traders, the rice seed company and transportation companies for delivering rice to millers," he said.If the
government banks do not care about farmers, the group of farmers will withdraw their money from those banks
and will embargo government banks' services, he said.
In Snap: Two protesting rice farmers, wearing the anti-government national flag straps, display their message after intruding into the office of
Phitsanulok

Nagpur Foodgrain Prices Open-Jan 30
Thu Jan 30, 2014 3:04pm IST
Nagpur, Jan 30 (Reuters) - Gram prices in Nagpur Agriculture Produce and Marketing Committee (APMC)
reported higher on renewed demand from local millers amid tight supply from producing regions. Healthy rise
in Madhya Pradesh gram prices and reported demand from South-based millers also helped to push up prices,
according to sources.
*
*
*
*
FOODGRAINS & PULSES
GRAM
* Desi gram recovered in open market on good buying support from local traders amid
restricted supply from millers.

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TUAR
* Tuar varieties ruled steady in open market here matching the demand and supply
position.
* Wheat varieties reported higher in open market on good seasonal demand from local
traders amid weak supply from producing regions like Punjab and Haryana.
* 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.
* 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
2,650-2,770
2,570-2,730
Gram Pink Auction
n.a.
2,100-2,600
Tuar Auction
n.a.
4,300-4,380
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
3,900-4,100
3,900-4,100
Gram Super Best
n.a.
Gram Medium Best
3,600-3,800
3,600-3,800
Gram Dal Medium
n.a.
n.a.
Gram Mill Quality
3,400-3,500
3,400-3,500
Desi gram Raw
3,150-3,250
3,100-3,200
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
6,800-7,000
6,800-7,000
Tuar Fataka Medium
6,200-6,400
6,200-6,400
Tuar Dal Best Phod
5,800-6,000
5,800-6,000

Cell # 92 321 369 2874

Tuar Dal Medium phod
5,400-5,600
5,400-5,600
Tuar Gavarani
4,400-4,500
4,400-4,500
Tuar Karnataka
4,500-4,600
4,500-4,600
Tuar Black
7,400-7,500
7,400-7,500
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
9,500-9,900
9,500-9,900
Moong Mogar Medium best
8,800-9,200
8,800-9,200
Moong dal super best
8,600-8,800
8,600-8,800
Moong dal Chilka
8,100-8,500
8,100-8,500
Moong Mill quality
n.a.
n.a.
Moong Chamki best
7,400-7,800
7,400-7,800
Udid Mogar Super best (100 INR/KG) 7,500-7,800
7,100-7,400
Udid Mogar Medium (100 INR/KG) 5,800-6,600
5,400-6,200
Udid Dal Black (100 INR/KG)
4,700-4,900
4,600-4,800
Batri dal (100 INR/KG)
3,850-4,650
3,800-4,600
Lakhodi dal (100 INR/kg)
3,000-3,100
3,000-3,100
Watana Dal (100 INR/KG)
3,250-3,350
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
1,750-1,850
Wheat Mill quality(100 INR/KG) 1,880-1,925
1,850-1,875
Wheat Filter (100 INR/KG)
1,750-1,950
1,700-1,900
Wheat Lokwan best (100 INR/KG) 2,100-2,550
2,050-2,550
Wheat Lokwan medium (100 INR/KG) 2,050-2,100
2,000-2,100
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 (100 INR/KG)
3,000-3,300
3,000-3,300
Rice Parmal (100 INR/KG)
1,800-1,850
1,800-1,850
Rice Swarna Best (100 INR/KG) 2,600-2,700
2,600-2,700

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Rice Swarna Medium (100 INR/KG) 2,300-2,450
2,300-2,450
Rice HMT (100 INR/KG)
4,100-4,400
4,100-4,400
Rice HMT Shriram (100 INR/KG) 4,500-5,000
4,800-5,000
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 Medium (100 INR/KG) 5,100-5,300
5,100-5,300
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. 28.6 degree Celsius (83.4 degree Fahrenheit), minimum temp.
10.6 degree Celsius (51.8 degree Fahrenheit)
Humidity: Highest - n.a., lowest - n.a.
Rainfall : nil
FORECAST: Mainly clear sky. Maximum and Minimum temperature likely to be around 29 and 11 degree
Celsius respectively.
Note: n.a.--not available
(For oils, transport costs are excluded from plant delivery prices, but included in market prices.)

Buying interest pushes Pusa up
OUR CORRESPONDENT
KARNAL, JANUARY 30:
Fresh buying pushed Pusa-1121 prices marginally up by ₹50
-100 a quintal, while other aromatic and nonbasmati varieties ruled unchanged amidst muted trade on Thursday. In the physical market, Pusa-1121 (steam)
moved up by ₹100 and was sold at ₹9,2009,250 a quintal, while Pusa-1121 (sela) was quoted at ₹8,150 a
quintal — up ₹50. Pure Basmati (raw) was quoted at ₹12,500 a quintal. Duplicate basmati (steam) was sold at
₹7,000 a quintal. Pusa
-1121 (second wand) was sold at ₹7,050, Tibar at ₹6,100, and Dubar at ₹5,000 a
quintal. In the non-basmati section, Sharbati (steam) was sold at ₹5,000 while Sharbati (sela) was quoted at
₹4,800 a quintal.Our Correspondent

Cell # 92 321 369 2874

(This article was published on January 30, 2014)
Keywords: Fresh buying, Pusa-1121

Rice loan bids moved to today
The Finance Ministry postponed the bridging-loan auction yesterday to borrow from banks to repay unpaid rice
farmers until today after submitting a letter of invitation to financial institutions, says a ministry
source.Government Savings Bank labour union members and staff wear black to show opposition to the stateowned bank making loans to the rice pledging scheme. Apichart Jinakul.Despite the Council of State's opinion
that the Finance Ministry can proceed with the 130-billion-baht borrowing plan, banks remain concerned about
the legitimacy of the deal.
The loans are expected to be ready for draw-down on Feb 4,
delayed from the original date of Jan 31, the source said.The
letter was just sent out to 32 financial institutions to invite
them to participate in the bidding, so an auction yesterday
would have run behind schedule.The ministry aims to raise
20-40 billion baht in loans from each auction to make
payments to farmers who pledged paddy under the rice
pledging scheme for the 2013-14 main crop.The caretaker
government wants to secure bridge financing from local
banks to pay farmers before letting the state-owned Bank for
Agriculture and Agricultural Cooperatives (BAAC) issue
bonds to be guaranteed by the Finance Ministry to repay the
short-term loans.Since the start of the current main crop in
October, about 10 million tonnes of paddy has been sold to the government, while the state-backed farm bank
has already paid about 50 billion baht to farmers.The upshot is that 1 million farmers with a combined pledging
amount of 100 billion baht remain unpaid, and there is insufficient liquidity to pay this group at the moment.
Moreover, the BAAC estimates that the total pledging value could be 190 billion baht when the current main
crop ends in late February.The Finance Ministry decided to proceed with the 130-billion-baht borrowing plan
after the Council of State ruled the borrowing constitutional because it would not add a new debt burden. The
ministry plans to transfer budget intended for infrastructure to pay farmers.BAAC executive vice-president
Somsak Kangteerawat said the bank as of yesterday had a mere 3 billion baht left over for payments.The funds
derived from Commerce Ministry rice sales, he said.Mr Somsak also disputed a local media report that the
BAAC has made payments only in the Pheu Thai Party's main areas of support such as the northern provinces,
saying payments are made based on the order of the invoices.An unnamed source in finance circles said the
banks are still worried about whether the caretaker government has a mandate to proceed with the borrowing,
which could be risky for banks taking part in the auction.

Advertisement: Mujahid Ali : mujahid.riceplus@gmail.com +92 321 369 2874

Cell # 92 321 369 2874

30th january,2014 daily g lobal rice e newsletter by riceplus magazine

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30th january,2014 daily g lobal rice e newsletter by riceplus magazine