17th September, 2013
TOP Contents - Tailored for YOU corporate watch Published : Tuesday, 17 September 2013 Govt decides maximum use of jute bags.The government has decided to make 100 per cent use of jute bags mandatory for private rice millers and sellers in a bid to promote the country's jute industry.The decision was taken at a recent meeting chaired by Abdul Latif Siddique, Minister, for Jute and Textile. The decision was taken as per 'Mandatory Jute Packaging Act-2010'.A ministry official said the authority will publish gazette notification in this regard within a short period. As per the decision the private rice millers will use nearly 300 million pieces of jute bags to package their products a year.Fertiliser factories will use 50 per cent or 25 million pieces of jute bags against the demand of 50 million while food department will use 50.0 million.The required 50 per cent jute bags will be provided by Bangladesh Jute Mills Corporation (BJMC) and another 50 per cent by Bangladesh Jute Mills Association (BJMA). The local consumption of jute sacks will stand at around 415 million against the total demand of around 450 million a year after implementation of the law.Jute bags will have to be used to pack paddy, rice, wheat, maize, fertiliser and sugar, according to the packaging law.Jute millers hailed the government decision. They hope the act will be implemented very soon.Abdul Barik Khan, secretary of BJMA said after implementation of the act the industry will be developed and farmers will get fair price.
India’s Saudi rice import share reaches 63 percent RIYADH: GHAZANFAR ALI KHAN & RASHID HASSAN | ARAB NEWS STAFF Published — Tuesday 17 September 2013:Last Update 17 September 2013 5:21 am
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India's share in Saudi rice import is 63 percent with the basmati rice much in-demand, said the Indian delegation from the Ministry of Commerce and Industry, which is in Riyadh to participate in the ongoing international agriculture and agro-industry trade show, in which India is the largest participating country with 40 companies.“Sixty three percent of rice import to Saudi Arabia comes from India with the Indian basmati much in demand,” said the Indian official.The government is keen to increase export of basmati rice by providing assistance to Indian exporters with mounting trade delegations abroad and participation in international fairs, the official stated.India, the largest supplier of rice to the Kingdom, is also getting more orders as Indian companies have renewed their efforts to fulfill the ever increasing demand from the Gulf country, which is one of the world’s largest rice importer. Rice is a major staple food of the people in the Kingdom with an average annual per capita consumption of about 43 kg. The country is dependent on rice imports to meet its growing requirements.According to statistics provided by the commerce and Industry ministry of India, the country's basmati rice export to the Kingdom till April-May this year was 138,704 million tons valued at $171.15 million, whereas the export of non-basmati rice during the same period was 22629.83 tons with its value to the tune of $13.58 million.Rehan Zaheer, a top official from the Indian ministry of food processing industry urged Saudi businessman and agriculture companies to invest in India's food processing sector, especially in rice and meat processing.He, however, clarified that India does not allow direct investment in farmlands.India recently relaxed foreign direct investment (FDI) norms in a number of key sectors, including food processing and agro-based industries as the hike in caps with liberalizing routes will stimulate FDI inflows into the country. Ajit Kumar, a high official from the Indian ministry of commerce and industry said that Saudi Arabia was an important market for Indian rice, especially basmati, and one of the largest market in GCC countries in terms of productivity. “We look forward to the Saudi market for our services in value added products,” he said. "There is a huge opportunity to look at food processing industry and we are looking forward to the growing demand of the industry,” he added.He also disclosed that a Saudi delegation including some senior officials of the Saudi Food and Drug Authority will visit India this year to check the conditions of abattoir in order to grant licenses for meat processing in the Kingdom's interest. Apart from rice, major Indian products being exported to Saudi Arabia include buffalo, sheep and goat meat, as well as fresh and preserved fruits and vegetables, confectionery and other processed foods that will be showcased at the Indian pavilion in the agro-industry trade show.The four-day agro-food exhibition, which ends on Wednesday at Riyadh International Convention Center, features a dedicated Indian pavilion comprising 40 companies.The pavilion will showcase export products from India’s major companies, which include APEDA represented by its General Manager S.S. Nair, Nutrilite agro products Pvt Ltd., Indian food tech Ltd. and Kabir foods apart from the ministries of food processing and commerce and industry.India Trade Promotion Organization (ITPO), the premier trade promotion agency of the government of India, has organized India's participation in the India pavilion.The visitors to the exhibition can visit the India pavilion to savor biryani, the Indian cuisine, made of basmati rice, and other processed foods from India.
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They will also be benefited from the personal presence of selected and leading exporters of agro-products including rice, chutneys and pickles, ready-to-eat snacks, processed foods and other Indian delicacies. Senior officials from ITPO, Agricultural and Processed Food Products Export Development Authority, Ministry of Food Processing Industry, Ministry of Commerce and Industry, and the exhibitors are also available to explain the characteristics of Indian food in detail and hold extended discussions on matters related to the subject, including investment in Agro-food sector in India. According to the Indian embassy, Saudi Arabia is the fourth largest trading partner of India and their bilateral trade crossed $43 billion in 2012-2013.India’s huge agro resource base and host of natural advantages make it a chosen destination for sourcing a variety of agricultural products. The embassy figures suggest that the total Indian agricultural exports were $221 billion during 2012-2013, of which Saudi Arabia accounted for $120 billion during this period.The 32nd edition of this bi-annual event is the Kingdom’s leading food industry event providing an opportunity to introduce new products, equipment, and technologies.Attended by the region’s food trade and business professionals, it is considered a unique platform to expand existing exports or establish new ones, at the center of the region’s fastest growing market.
Oryza Rice Currency Analysis for Today – India Rupee Up 1% Sep 16, 2013
U.S. dollar index was down -0.20% from the open today, when it traded at 81.249 at the close. Euro was +0.30% higher today by the close, trading around 1.3334 by end of day, after trading between an intraday high of 1.3386 and low of 1.3293. Larry Summers’ announcement that he would no longer pursue becoming the next Fed chairman shook up the markets and sent the dollar lower. Thai baht was stronger +0.41%, trading at 31.720 at the close of business. Indian rupee was stronger +1.03%, finishing the day at 62.8475. Brazilian real was +0.09% stronger than the open at today’s close, when it ended at 2.2783 reais per dollar. Pakistan rupee was +0.11% stronger at the close, trading at 104.9400. Vietnamese dong was -0.05% weaker at 21125. Mexican peso was +0.74% stronger today, when it traded at 12.9463 pesos per dollar by the close of business today. Chinese yuan was -0.02% weaker, when it traded by close at 6.1207.
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Argentine peso was -0.08% weaker at 5.7316 pesos per dollar. Tags: foreign exchange rates
Vietnam Exports 4.791 Million Tons of Rice January 1 - September 12,13
Sep 2013
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Vietnam has exported around 4.791 million tons of rice in January 1 - September 12, 2013, at an average price of about $429 per ton (FOB), according to the Vietnam Food Association (VFA).Average export price stand at around $431 per ton (FOB) so far in September 2013, up about 1.17% from around $426 per ton recorded in full month of August, but down about 2% from around $440 per ton recorded in full month of September 2012.Vietnam exported around 100,565 tons rice during September 1 - 12, 2013, including: 22,333 tons of 4% 10% broken rice; about 9,510 tons of 15%-20% broken rice; about 31,790 tons of 25%-45% broken rice; and about 28,661 tons of aromatic rice. Africa was the biggest export destination for Vietnamese rice in the first 12 days of September 2013, accounting for almost 67.02% of total rice exports during September 1-12, 2013. Asia was the second largest destination, accounting for around 27.79% of total exports, while Middle East, America, Australia and Europe accounted for around 2.17%, 1.77%, 0.65% and 0.60% respectively of Vietnam's rice exports in September 1-12, 2013.Domestic paddy prices in the Mekong Delta for common stock stand at around VND 4,800 - 4,900 per kilogram (about $224 - $229 per ton, using current exchange rates).Vietnamese 5% broken domestic rice prices stand at around VND 6,600-6,700 per kilogram (about $308 - $322 per ton, using current exchange rates), and 25% broken rice prices stand at around VND 6,300-6,400 per kilogram (about $294 - $299 per ton, using current exchange rates). Tags: Vietnam rice exports
Conab Lowers 2012-13 Brazil Paddy Rice Production Estimates to 11.75 Million Tons Sep 16, 2013
Brazil’s National Grains Supply Company (Conab) has lowered its paddy rice production estimate for 2012-13 to around 11.75 million tons, down around 1% from its previous estimate of around 11.86 million tons, but still up about 1.4% from around 11.6 million tons produced in 2011-12. This downward revision in paddy rice production is mainly due to lower-than-expected production in the North and Northeast regions of Brazil. According to Conab, paddy rice production in North and North East region of Brazil is expected to reach around 1.78 million tons, down about 6% from Conab's previous forecast of about 1.89 million tons, and up about 3.5% from about 1.72 million tons produced in 2011-12. Paddy rice production in Central and South region of Brazil, which is also the key rice producing area in Brazil, is expected to reached around 9.97 million tons, in line with previous forecast and up about 1% from last year's production of about 9.88 million tons.Meanwhile rice acreage in North and Northeast region of Brazil increased slightly from the previous forecast, estimated at around 880,100 hectares, up about 0.1% from the previous forecast. Conab's yield forecast for the North and Northeast declined by about 6% to 2.02 tons paddy per hectare, from previous forecast of about 2.15 tons paddy per hectare. Rice acreage in Central and South region of Brazil is expected to remain unchanged from previous forecast of about 1.511 million hectares and yield is also expected to remain unchanged at about 6.6 tons per hectare.
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Asia Rice Quotes Mixed Today Sep 16, 2013
Thailand rice sellers lowered their quotes for parboiled rice by about $10 per ton to about $450 - $460 per ton today. Vietnam rice sellers lowered their quotes for jasmine rice by about $15 per ton to about $505 - $515 per ton. India rice sellers increased most of their quotes by about $10 per ton. Pakistan rice sellers increased most of their quotes by about $5 per ton. 5% Broken Rice Thai 5% rice is quoted around $415 - $425 per ton, about a $55 per ton premium over Viet 5% rice (of summerautumn crop 2013) shown around $360 - $370 per ton. Indian 5% rice is quoted around $420 - $430 per ton, up about $10 per ton from Friday and about $25 per ton premium over Pak 5% rice (of new crop) quoted around $395 - $405per ton, up about $5 per ton from Friday. 25% Broken Rice Thai 25% rice is quoted about $405 - $415 per ton, about a $75 per ton premium over Viet 25% rice (of summer-autumn crop 2013) shown around $330 - $340 per ton. Indian 25% rice is quoted about $380 - $390 per ton, up about $10 per ton from Friday and about a $35 per ton premium over Pak 25% rice (of new crop) quoted around $345-$355 per ton, up about $5 per ton from Friday. Parboiled Rice Thai parboiled rice is quoted around $450 - $460 per ton, down about $10 per ton from Friday. Indian parboiled rice is quoted around $415 - $425 per ton, up about $10 per ton from Friday and about a $5 per ton discount to Pak parboiled rice (of new crop) quoted around $420 - $430 per ton, up about $5 per ton from Friday. 100% Broken Rice Thai broken rice, A1 Super, is quoted around $395 - $405 per ton, about a $75 per ton premium over Viet broken rice (of summer-autumn crop 2013) shown around $320 - $330 per ton. Indian broken sortexed rice is quoted about $315 - $325 per ton, up about $10 per ton from Friday and about a $25 per ton discount to Pak broken sortexed rice (of new crop) indicated at around $340 - $350 per ton, up about $5 per ton from Friday. Tags: Asia rice quotes, Thailand rice quotes, Vietnam rice quotes, India rice quotes, Pakistan rice quotes
Oryza Global Rice Quotes:September 16th, 2013 Long grain white rice - high quality Thailand 100% B grade 425-435
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Vietnam 5% broken 360-370 India 5% broken 420-430 Pakistan 5% broken 395-405 Cambodia 5% broken 445-455 U.S. 4% broken 605-615 ↔ Uruguay 5% broken 615-625 Argentina 5% broken 615-625 Long grain white rice - low quality Thailand 25% broken 405-415 Vietnam 25% broken 330-340 Pakistan 25% broken 345-355 India 25% broken 380-390 U.S. Calrose 4% broken 570-580
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Long grain parboiled rice Thailand parboiled 100% stxd 450-460 ↓ Pakistan parboiled 5% broken stxd 420-430 India parboiled 5% broken stxd 415-425 ↑ U.S. parboiled 4% broken 665-675 ↔ Brazil parboiled 5% broken 545-555 ↔ Uruguay parboiled 5% broken NQ ↔ Long grain fragrant rice Thailand Hommali 92% 1110-1120 ↔ Vietnam Jasmine 505-515 ↓ India basmati 2% broken 1515 -1525 Pakistan basmati 2% broken NQ ↔ Brokens Thailand A1 Super 395-405 ↔ Vietnam 100% broken 320-330 ↔ Pakistan 100% broken stxd 340-350 India 100% Broken stxd 315-325 ↑ Egypt medium grain brokens NQ ↔ U.S. pet food 360-370 ↔ Brazil half grain 325-335 ↔ Medium grain milled U.S. Calrose 4% broken 685-695 Egypt medium grain 6% NQ ↔
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↔ All prices USD per ton, FOB vessel, oryza.com
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