1st december,2014 daily global rice e newsletter by riceplus magazine

Daily Global Rice E-Newsletter by Riceplus Magazine www.ricepluss.com

Daily Global Rice E-Newsletter 1 December , 2014

Volume 4 Issue: XI

st

Vol 4, Issue XI

Today’s News Headlines…                

Rice Prices Climb after Temporary Dip In Memory: Sonny Martin USA Rice Offers Assessment of Neonicotinoid Seed Treatments Japan Announces 8th Ordinary Import Tender in FY 2014 CME Group/Closing Rough Rice Futures Gov‟t plans local rice sufficiency by 2018 Two Great Cookbooks for Hanukkah 2014 All hands on deck: the Warren family pitches in Koolmill sells rice milling machines to China Philippines will continue rice imports up to 2015, exec says DA drops 2014 goal on palay harvest Finance Ministry issues bonds to restructure rice mortgage scheme debts Thailand moving in on world‟s number 1 rice exporter Japan to sharply cut 2015 rice output target to 7.51 mil. Tons Gov‟t plans local rice sufficiency by 2018 Amira Nature Foods Meets Consensus; Jefferies Confirms and Updates Its Report

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Daily Global Rice E-Newsletter by Riceplus Magazine News Detail….

Rice Prices Climb after Temporary Dip Choi Song Min | 2014-11-26 21:00 Rice prices in North Korea‟s markets, after posting a decline earlier this month, are said to be back on the rise. Rice threshing is now over, but the amount of grain rendered useless from this year‟s drought is significant, trimming the volume of rice in circulation and affecting the prices, according to a local source.“On most collective farms, the harvest has decreased compared to last year,” a source based in North Hamkyung Province told the Daily NK on Tuesday.

“In Hwanghae and Pyongan Provinces, the breadbaskets of the North, a lot of grain heads were empty, and with corn, a lot of it had to be tossed because it dried out during the summer drought."The prolonged drought, plaguing the nation since spring of this year, has drained reservoirs to the point of exposing their floors, and hydroelectric power plants have been repeatedly halted. North Korean residents, despite mobilization for a “battle against water shortage,” were unable to restore water levels at reservoirs, leading to widespread damages.

The amount of rainfall in the North in August, a period critical to crop production, stood at 89.6 ㎜, much lower than the average 199.2㎜, according to Korea Meteorological Administration in the South. In particular, the provinces of South Pyongan and South Hwanghae saw less than 30 percent of their average precipitation in that month. Most areas in the North also received less than 40 to 50 percent of their annual rainfall in the months of September and October. “The rice prices dropped briefly in the markets, as freshly harvested rice was released earlier in the month,” the source asserted.

“But what used to trade for 4,800-5,000 KPW [0.58-0.60 USD] has now jumped by more than 500 KPW [0.60 USD] to 5,600 KPW [0.67 USD].” He went on to explain that local officials with the Ministry of People's Security [MPS] are now setting up “food checkpoints” to make sure grains are not leaking out to other areas. “Among the vehicles, if there are any carrying loads of grain, officials are confiscating the products without question,” he said.However, this surveillance has yet to extend to individuals carrying 50-100kg of rice on their backs, allowing merchants to transport the grains via train and release it in the markets.

If authorities crack down on this practice as well, the source speculated a jump in rice prices to be inevitable.Another factor contributing to the price hike is beefed up surveillance on border Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine smugglers. The closing of a railroad bridge connecting the North and China over the Yalu River for repairs has also added to the pinch on rice, the source explained.“Since last week, the railroad bridge connecting trade between the North and China has been under maintenance, so nothing has been coming through,” a source based in Sinuiju reported.

“They say construction will go on for roughly ten days, but we don‟t know when it will wrap up, so there is a high possibility of rice prices increasing.”Residents, concerned about these changes are asking, “What if this makes next year an even worse year of hardship,” pointing out, “If only they would distribute the land to the farmers, we wouldn‟t have to worry about rice.” *Translated by Jiyeon Lee

In Memory: Sonny Martin USA Rice extends condolences to the family and friends of Marlin O. "Sonny" Martin, 73, of Bernie, MO, who passed away on November 26. Martin's leadership roles in the rice industry included service on the Missouri Rice Research and Merchandising Council and the chairmanship of the USA Rice Council from 1994 to 1996.

Survivors include his wife, Alice Martin, three sons, Tim, Mike, and David, and four grandchildren. Funeral services were held on November 29. Memorials may be made to the Stoddard County Gospel Mission, 207 One Mile Road, Dexter, MO 63841, or the Stoddard County Children's Home Memorial Tribute Fund, P.O. Box 164, Dexter, MO 63841.

USA Rice Offers Assessment of Neonicotinoid S eed Treatments ARLINGTON, VA -- At the request of the U.S. Department of Agriculture, the USA Rice Federation recently submitted information to the Environmental Protection Agency (EPA) Pollinator Health Task Force on the value of a class of seed treatments used on rice seeds. The seed treatment in question is neonicotinoids, a class of insecticides introduced two decades ago and adopted by farmers around the world because of their effectiveness in controlling harmful and destructive crop pests.

There is concern that neonicotinoids, or neonics as they are usually called, may play a role in recent pollinator declines. While rice is not pollinated by bees, there is mounting pressure to ban the entire class of neonics due to uncertainties regarding their potential environmental impact on Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine pollinators.The U.S. rice industry relies heavily on the neonicotinoid seed treatments to combat insect pests, and with the loss of older crop protection products, cannot afford the loss of three more products.

Recent EPA analysis concluded that there is little or no increase in soybean yields using most neonicotinoid seed treatments when compared to using no pest control at all. This analysis is an important part of the science EPA will use in their assessment of the risks and benefits under registration review for the neonicotinoid pesticides.A year ago, Syngenta, Bayer CropScience, and Valent jointly commissioned an independent study on the socio-economic benefits of neonicotinoid insecticides in North America. This research has produced a comprehensive series of 15 reports demonstrating the value of neonicotinoids.

The study looked at U.S. and Canadian agriculture as well as turf and ornamental sectors, and all uses of neonicotinoids: seed treatment, foliar, and soil applications. The first nine reports have been released to the media. They are available on a new website called GrowingMatters.org, along with news releases, fact sheets, videos, and an infographic.

Contact: Steve Hensley (703) 236-1445

Japan Announces 8th Ordinary Import Tender in FY 2014 Announcement:

1 December 2014

Tender:

4 December 2014

Offer details:

58,000 mt

Country Specified or Global

U.S.A.

Non-glutinous milled rice (medium grain) 25,000

Thailand Global Tender

Non-glutinous milled rice (long grain)

12,000

TOTAL

25,000 14,000

14,000

12,000

19,000

Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine TOTAL

Shipping period:

37,000

21,000

58,000

(Medium grain) From 1 March 2015 to 10 April 2015 (Long grain) From 10 March 2015 to 20 April 2015

CME Group/Closing Rough Rice Futures CME Group (Preliminary): Closing Rough Rice Futures for December 1

Month

Price

Net Change

January 2015

$12.140

- $0.195

March 2015

$12.405

-$0.190

May 2015

$12.650

- $0.190

July 2015

$12.850

- $0.190

September 2015

$12.100

- $0.190

November 2015

$12.000

- $0.190

January 2016

$12.000

- $0.190

Gov’t plans local rice sufficiency by 2018 Government‟s ambitious 2018 target for local rice farmers to fully meet domestic demand has been described as very feasible by the Ghana Grains Council, although it adds that such a feat will demand government‟s total commitment.The country‟s current rice production accounts for about 47 percent its 1.8 million m/t total rice consumption.Rice is one of the major items on Ghana‟s import bill, with a market size estimated to be over US$1billion. Reducing the size of rice imports has become a priority for government, which sees it as a way of easing pressure on foreign exchange reserves

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Daily Global Rice E-Newsletter by Riceplus Magazine According to Dr. Godwin Ansah, Managing Director of the council, much as an outright ban of rice importation is a good thing, the current low capacity of local farmers means that they are unable to meet the market demand.“If that ban happens overnight, how do we meet the shortfall of more than 50 percent currently filled by imported rice? That‟s why any ban at all should not be immediate,” he said.The Ministry of Food and Agriculture, in its Food and Agriculture Sector Development Policy (FASDEP II), announced a raft of measures and initiatives that will see at least a 20 percent annual increment of local rice production.Currently local rice producers, mostly smallholder farmers, gross about 600,000 tonnes annually amidst several challenges. Dr. Ansah told the B&FT in an interview that beyond just raising their output, there are other challenges the farmers have to contend with to boost local consumption.

“These challenges have to do with issues of branding, marketing, which are major issues as far as local rice is concerned; we are very weak in that area. There‟s also limited access to good breeds or varieties of rice that help to boost productivity,” he added. Govt‟s lead role According to the Ghana Grains Council, government‟s assistance to local farmers by way of various policy support such as FASDEP, Ghana Commercial Agriculture Project (GCAP) are commendable, but government as a consumer must boost its purchases.“There a lot of things government can do to help on the demand side. For instance, government can direct management of the School Feeding Programme to only use rice grown locally as against imported rice,” he said.Previously, management of the school feeding programme were sourcing rice locally; but due to the inability of government to release funds on time to pay local farmers, that relationship was strained. The GGC Council MD therefore believes a different approach to the relationship is needed to ensure the farmers remain in business.

Ghana Grains Council is a private sector-led initiative by leaders in the grain business, established with the aim of intervening in the grains value chain to achieve improvement in productivity, quality and greater commercialisation of the industry.

Two Great Cookbooks for Hanukkah 2014 Posted: 12/01/2014 10:22 am EST Updated: 12/01/2014 10:59 am EST

My private cookbook collection can't compare to that of many of my colleagues -- my 500 or so seem paltry next to collections in the thousands. But at this stage of life, I carefully curate the books I want around forever. Here are two of them -- both recently published and perfect gifts for Hanukkah.

Jewish Soul Food: From Minsk to Marrakesh

by Janna Gur Schocken Books, New York NY 2014 $35.00 ISBN 978-0- 8052-4308-6

Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine This is a rave. With striking photos and vibrant spirit, here is a cookbook that reads like a luscious travelogue built around the culinary narrative of the Jewish diaspora. The book's author, Janna Gur, is among the most knowledgeable representatives of Israeli cuisine (her first book, The Book of New Israeli Food, 2007 is already a classic) and of Jewish food and identity around the globe.

Her new book, Jewish Soul Food: from Minsk to Marrakesh, is both prequel and sequel to Jerusalem by Ottolenghi. In a world cluttered with cookbooks, hers is a standout, a poignant journey of enforced migration and authenticity cast in a contemporary light. There is much to learn. I have never seen, eaten, or made many of these dishes: Her sabich (an egg and eggplant sandwich often eaten for breakfast) is gorgeous, as is hamim macaroni, mafroum (meat and potato "sandwiches"), Bulgarian feta-stuffed pepper "cutlets," and tantalizing fluden, made with poppy seeds, walnuts and apples, for dessert.

Its diverse recipes paint much of Israel's culinary landscape, where Ms. Gur resides and publishes, with her husband, Israel's most prominent food and wine magazine called Al Hashulchan (At the Table). Born in the former Soviet Union, Ms. Gur emigrated to Israel in 1974 and since that time has scholarly untangled the global threads woven into the Israeli kitchen.Some of my favorite dishes include sabzi polo, rice pilaf made with equal amounts of basmati rice and fragrant fresh herbs, and addictive ijeh b'lahmeh which are herb and meat latkes perfect for Hanukkah. Also appropriate for the holiday are bimuelos, a Sephardic dessert of fried dough, drizzled with cinnamon-scented honey syrup and garnished with walnuts.

I look forward to making her orange flower butter cookies studded with almonds for gift-giving this season.This book is important because of Janna's strongly held belief: The only way to preserve traditional cuisine for future generations is to cook it. Without her careful attention to this repertoire of priceless artifacts -- recipes from vanquished times and cultures -- these hand-me-downs would be all but lost. Jewish cuisine is unique because it reflects the histories of so many nationalities, wars and displacements. How Ms. Gur captures its essence in 100 recipes is the magic of this book.

Eating Delancey: A Celebration of Jewish Food

by Aaron Rezny and Jordan Schaps Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine powerHouse Books, Brooklyn, NY 2014 $35.00 ISBN 978-1-57687-722-7 I don't know exactly where my grandparents lived as Hungarian immigrants in the early part of the last century, but they certainly climbed tenement steps and shopped on Delancey Street, as depicted in this sumptuous book with lovely essays by famous fressers (eaters) -- Calvin Trillin, Paul Goldberger (architecture critic of the New York Times), food maven Arthur Schwartz, legendary graphic designer, Milton Glaser -- and mouth-watering recipes. There are spectacular images of food, people, storefronts, and culinary ephemera, and an unexpected black-and-white photo of Janis Joplin smoking a cigarette at Ratner's, which is fabulous.

Eating Delancey, is Mr. Rezny's personal homage to the vanishing flavors of his youth.

Similarly, Mr. Schaps waxes nostalgic about his bubbe Ethel Raben and the meals he consumed in her Russian-Yiddish-American kitchen. Mr. Rezny photographs the semaphores of their combined history -- bagels, halvah, knishes, seltzer bottles -- with the same intention. The photographs of iconic quaffs -- a bottle of Cherry Heering, Slivovitz, a bottle top of Cel-ray soda, tea in a glass are stunning in their simplicity. And the luster of the finished dishes -- a slice of creamy cheesecake, Schwartz's sweet and sour flanken, even matzo brei, a monochrome dish if there ever was one, here looks sensuous.Joan Rivers would have kvelled from this book.

Her poignant introduction, which in itself is poignant, is brilliantly alive with affection for Jewish food. She describes her mother, "a chic woman, very well read, a great hostess, and a horrible cook" and goes on to confess her love of singed chicken feet and gefilte fish with freshly grated horseradish.Many books have delved into the psyche of Jewish people through their food -- but this book succeeds as a true work of art. I, for one, regret not knowing more about my grandparents' path, that of Joseph and Louise (Goldstein) Gold, who walked and ate with the best of them.

More nostalgia: My best friend threw me a surprise wedding shower at Sammy's Roumanian on Chrystie Street -- imagine how classy that was -- a place where chicken fat is poured from a pitcher, garlic fills the air, and where time, for a moment, stands still.Rozanne Gold is a fourtime James Beard award-winning chef and author of Eat Fresh Food: Awesome Recipes for Teen Chefs, Healthy 1-2-3, and Radically Simple: Brilliant Flavors with Breathtaking Ease.

Rozanne can be found on Facebook at http://www.facebook.com/rozannegold.

Two Great Cookbooks for Hanukkah 2014 Posted: 12/01/2014 10:22 am EST Updated: 12/01/2014 10:59 am EST

My private cookbook collection can't compare to that of many of my colleagues -- my 500 or so seem paltry next to collections in the thousands. But at this stage of life, I carefully curate the books I want around forever. Here are two of them -- both recently published and perfect gifts for Hanukkah.

Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine

Jewish Soul Food: From Minsk to Marrakesh

by Janna Gur Schocken Books, New York NY 2014 $35.00 ISBN 978-0- 8052-4308-6 This is a rave. With striking photos and vibrant spirit, here is a cookbook that reads like a luscious travelogue built around the culinary narrative of the Jewish diaspora. The book's author, Janna Gur, is among the most knowledgeable representatives of Israeli cuisine (her first book, The Book of New Israeli Food, 2007 is already a classic) and of Jewish food and identity around the globe. Her new book, Jewish Soul Food: from Minsk to Marrakesh, is both prequel and sequel to Jerusalem by Ottolenghi.

In a world cluttered with cookbooks, hers is a standout, a poignant journey of enforced migration and authenticity cast in a contemporary light.

There is much to learn. I have never seen, eaten, or made many of these dishes: Her sabich (an egg and eggplant sandwich often eaten for breakfast) is gorgeous, as is hamim macaroni, mafroum (meat and potato "sandwiches"), Bulgarian feta-stuffed pepper "cutlets," and tantalizing fluden, made with poppy seeds, walnuts and apples, for dessert. Its diverse recipes paint much of Israel's culinary landscape, where Ms. Gur resides and publishes, with her husband, Israel's most prominent food and wine magazine called Al Hashulchan (At the Table).

Born in the former Soviet Union, Ms. Gur emigrated to Israel in 1974 and since that time has scholarly untangled the global threads woven into the Israeli kitchen.

Some of my favorite dishes include sabzi polo, rice pilaf made with equal amounts of basmati rice and fragrant fresh herbs, and addictive ijeh b'lahmeh which are herb and meat latkes perfect for Hanukkah. Also appropriate for the holiday are bimuelos, a Sephardic dessert of fried dough, drizzled with cinnamon-scented honey syrup and garnished with walnuts. I look forward to making her orange flower butter cookies studded with almonds for gift-giving this season.

This book is important because of Janna's strongly held belief: The only way to preserve traditional cuisine for future generations is to cook it. Without her careful attention to this repertoire of priceless artifacts -- recipes from vanquished times and cultures -- these hand-medowns would be all but lost. Jewish cuisine is unique because it reflects the histories of so many nationalities, wars and displacements. How Ms. Gur captures its essence in 100 recipes is the magic of this book.

Eating Delancey: A Celebration of Jewish Food Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine

by Aaron Rezny and Jordan Schaps powerHouse Books, Brooklyn, NY 2014 $35.00 ISBN 978-1-57687-722-7 I don't know exactly where my grandparents lived as Hungarian immigrants in the early part of the last century, but they certainly climbed tenement steps and shopped on Delancey Street, as depicted in this sumptuous book with lovely essays by famous fressers (eaters) -- Calvin Trillin, Paul Goldberger (architecture critic of the New York Times), food maven Arthur Schwartz, legendary graphic designer, Milton Glaser -- and mouth-watering recipes.

There are spectacular images of food, people, storefronts, and culinary ephemera, and an unexpected black-and-white photo of Janis Joplin smoking a cigarette at Ratner's, which is fabulous.

Eating Delancey, is Mr. Rezny's personal homage to the vanishing flavors of his youth. Similarly, Mr. Schaps waxes nostalgic about his bubbe Ethel Raben and the meals he consumed in her RussianYiddish-American kitchen. Mr. Rezny photographs the semaphores of their combined history -bagels, halvah, knishes, seltzer bottles -- with the same intention.

The photographs of iconic quaffs -- a bottle of Cherry Heering, Slivovitz, a bottle top of Cel-ray soda, tea in a glass are stunning in their simplicity. And the luster of the finished dishes -- a slice of creamy cheesecake, Schwartz's sweet and sour flanken, even matzo brei, a monochrome dish if there ever was one, here looks sensuous.Joan Rivers would have kvelled from this book. Her poignant introduction, which in itself is poignant, is brilliantly alive with affection for Jewish food. She describes her mother, "a chic woman, very well read, a great hostess, and a horrible cook" and goes on to confess her love of singed chicken feet and gefilte fish with freshly grated horseradish.

Many books have delved into the psyche of Jewish people through their food -- but this book succeeds as a true work of art. I, for one, regret not knowing more about my grandparents' path, that of Joseph and Louise (Goldstein) Gold, who walked and ate with the best of them. More nostalgia: My best friend threw me a surprise wedding shower at Sammy's Roumanian on Chrystie Street -imagine how classy that was -- a place where chicken fat is poured from a pitcher, garlic fills the air, and where time, for a moment, stands still.

Rozanne Gold is a four-time James Beard award-winning chef and author of Eat Fresh Food: Awesome Recipes for Teen Chefs, Healthy 1-2-3, and Radically Simple: Brilliant Flavors with Breathtaking Ease.

Rozanne can be found on Facebook at http://www.facebook.com/rozannegold.

Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine Source: TheHuffingtonPost.com, Inc

Amira Nature Foods : Meets Consensus; Jefferies Confirms and Updates Its Report 12/01/2014 | 08:07am US/Eastern Amira Nature Foods Ltd (the “Company;” or “Amira” NYSE: ANFI), a leading global provider of packaged Indian specialty rice, today clarified that the adjusted earnings per share reported November 24, 2014 for its fiscal 2015 second quarter did meet Street consensus earnings estimates of $0.29 per share. It was erroneously reported by Jefferies analyst, Kevin Grundy, that the Street consensus earnings estimate was $0.32 per share for the fiscal 2015 second quarter.

As such, on November 26, 2014, Jefferies amended and re-published its research report with the correct Street consensus earnings estimates of $0.29 per share, and confirmed that Amira‟s fiscal 2015 second quarter did indeed meet Street consensus.

About Amira Nature Foods Ltd. Founded in 1915, Amira has evolved into a leading global provider of branded packaged Indian specialty rice, with sales in over 60 countries today. The Company sells Basmati rice, which is a premium long-grain rice grown only in certain regions of the Indian sub-continent, under its flagship Amira brand as well as under other third party brands. Amira sells its products through a broad distribution network in both the developed and emerging markets. The Company‟s global headquarters are in Dubai, United Arab Emirates, and it also has offices in India, Malaysia, Singapore, Germany, the United Kingdom, and the United States. Amira Nature Foods Ltd is listed on the New York Stock Exchange (NYSE) under the ticker symbol “ANFI.” For more information please visit www.amira.net.

Cautionary Note on Forward-Looking Statements This release contains forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements generally can be identified by phrases such as that we or our members of management “believe,” “expect,” “anticipate,” “foresee,” “forecast,” “estimate” or other words or phrases of similar import. Specifically, these statements include, among other things, statements that describe our expectations for the growth of our business, expansion into new geographic markets, maintaining and expanding our relationship with key retail partners, the financial impact of new sales contracts on our revenue, our plans to make significant capital expenditures, and other statements of management’s beliefs, intentions or goals.

It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on our results of operations, Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine financial condition, or the price of our ordinary shares. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to our ability to penetrate and increase the acceptance of our products in new geographic markets; our ability to perform our agreements with customers and further develop our relationships with key retail partners; our ability to recognize revenue from our contracts; continued competitive pressures in the marketplace; our reliance on a few customers for a substantial part of our revenue; our ability to implement our plans, forecasts and other expectations with respect to our business and realize additional opportunities for growth; and the other risks and important factors contained and identified in our filings with the Securities and Exchange Commission.

All forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by these risk factors. Since we operate in an emerging and evolving environment and new risk factors and uncertainties emerge from time to time, you should not rely upon forward-looking statements as predictions of future events. Except as required under the securities laws of the United States, we undertake no obligation to update any forward-looking or other statements herein to reflect events or circumstances after the date hereof, whether as a result of new information, future events or otherwise.

source www.4-traders.com

All hands on deck: the Warren family pitches in Lambrook, Ark., family farm truly a joint venture Dec 1, 2014David Bennett | Delta Farm Press Warren family of Lambrook, Ark., profiled.THE WARREN FAMILY ‘does what needs doing.’ From left, Chris, Tasha, Don, Connie, Melissa and Anthony.

RELATED MEDIA Everyone‟s day begins with breakfast, no surprise. But the Warrens‟ day begins with breakfast to order. Requests have been placed the night before and the family matriarch, Connie, has been up for a while before the seven grandkids sleepily troop into the kitchen.“When we say Connie cooks, that doesn‟t give you the full scope of what she does,” says Tasha, as mid-November winds howl outside. “We wouldn‟t function without her. For breakfast, whatever you want: eggs, sausage, pancakes, gravy, chocolate gravy. Then, she packs lunch for everyone and brings it to the field every day. Every night, she feeds all the hands -- maybe 15 folks.”

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Daily Global Rice E-Newsletter by Riceplus Magazine The rest of the Warren clan – patriarch Don, sons Chris and Anthony and their wives Tasha and Melissa – are no less idle. If there is work to be done, pitch in. That is the unspoken mantra of this true, tight-knit farming family from Lambrook, Ark. The Warren family: a season of photos “I‟m a second-generation farmer,” says Don. “My mother and daddy moved here in 1939, just before WWII. They lived here until they passed away.“I was born and raised here, same as Connie. Her parents also farmed here. We got married, our kids -- Chris, Anthony and their sister, a nurse in Helena -- came along and now they‟re starting to tell us what to do,” says Don, laughing.

The Warrens farm 9,250 cropland acres, none of it more than 14 miles from the main shop in Lambrook.“We‟ve certainly taken on more acreage. Ten years ago, we were farming around 3,000 acres,” says Chris. “I started farming in 1998 and Anthony started two years later. Around 2003/2004, we combined acres and started working together.

“It‟s worked out so much better with us working together. We don‟t have to maintain separate shops and equipment.“Truth is, we kind of had our hand forced on that. Quality labor is scarce.

Plus, it‟s nice to have just one sprayer running the 9,200 acres. Consolidating like we have keeps overhead down and also means we‟re watching each other‟s backs that much closer.”The Warrens haven‟t shifted crops as much as some east Arkansas neighbors. “We‟ve always grown grain over cotton,” says Anthony. “This year, we raised about 5,500 acres of soybeans, 2,000 of grain sorghum and the rest was in rice. Grain sorghum has always been in our rotation.”Don agrees.

“We‟ve done the same crop rotation for a long time. Way back, when I first began, I grew cotton.

But with the soils around here we couldn‟t really compete with the cotton farms. So, we got out of cotton long before the bottom fell out of the market.“Soybeans, grain sorghum and rice are our main crops. We did grow some corn for a few years until the price turned south.”The family has a fleet of grain bins with a 250,000-bushel capacity.“The first bin went up in 1997 and we‟ve added on five times since,” says Anthony. “This year, we used the grain bins early-season for soybeans and milo. But we ended up having to pull all that for rice -- it was a great crop and we didn‟t have any room for anything but rice.”

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Daily Global Rice E-Newsletter by Riceplus Magazine Koolmill sells rice milling machines to China Dec 01, 2014 05:00

By Enda MullenMidland company cracks one of the toughest markets for its produce but said difficulties in accessing funds to expand was hitting its plans to establish a manufacturing base here Koolmill's rice milling machines in action in China A Midland company has cracked one of the toughest markets for its produce – selling rice milling machines to China. But Solihull-based Koolmill said difficulties in accessing funds to expand was hitting its plans to establish a manufacturing base in the Midlands.Koolmill chief executive Alec Anderson has likened the firm's products as being the milling equivalent of the Dyson vacuum cleaner but says he has been frustrated at the firm's inability to secure UK funding or Government backing.

Instead the firm is developing its business in China through a joint venture and is now seeing its machines manufactured over there.Mr Anderson said: "It's a bit like James Dyson – what he was doing with vacuum cleaners we are doing with milling machines and taking on a global industry.

But we're looking at big customers and they are waiting to see how it pans out.

"When you're selling a £300 vacuum cleaner people are a little bit miffed if there's a problem but if you're running a mill you're going to need 5-10, £30,000 machines."We're a small company, there are huge commercial risks and so it's pretty tough but China has a different attitude to here in the UK. For years we have been trying to raise money in the UK to set up a manufacturing operation."I think it comes down to the fact we don't easily fit into any of the categories and intellectual property is an intangible asset, which in banking terms has no value, so can't be borrowed against."Koolmill had hoped to set up a Midland manufacturing base employing up to 40 people and still has hopes of doing so to cater for the premium end of the market.

Its joint venture Quzhou Koolmill (QZ), which has a 20 per cent stake from a Chinese venture capital company, is small-scale at present manufacturing rice milling machines in a 9,000 sq m factory the city of Quzhou.It employs 25 people and this year aims to produce 200 machines, increasing to 1,500 to 2,000 machines within 3-5 years producing an estimated income of £40 million. Koolmill has plans to expand manufacturing to India and possibly Brazil.

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Daily Global Rice E-Newsletter by Riceplus Magazine Mr Anderson added: "I'd like to think we could have access to funding here in the UK on reasonable terms but the reality is that for us it is not there. I would like this to be a British technology and being made in Birmingham.

"You hear about the Business Bank and LEPS etc but our experience is it's a bit like a bargain flight – when you go to get it is isn't there."China is extremely supportive and we are grateful for the support of government at all levels as we seek to change the culture of a globally significant but ultra-conservative industry." http://www.birminghampost.co.uk/business/business-news/koolmill-sells-rice-milling-machines-8194815

Philippines will continue rice imports up to 2015, exec says 01.12.2014 THE PHILIPPINES will continue to import rice next year to meet supply requirements as local production of the staple is seen to be insufficient.The National Food Authority (NFA), the country‟s grains procurement agency, said the Philippines may import an initial 600,000 metric tons (MT) of rice for 2015 to boost its buffer stocks in the lean months of June to August.“The interagency body in charge of computing and recommending how much we need to import is saying we still need to import about 600,000 MT. That‟s for next year, 2015,” NFA Administrator Renan B. Dalisay said in a text message to BusinessWorld.

The NFA Council -- members of which, together with the Secretary of Agriculture, makes import recommendations to the President, who then makes the final decision -- still needs to give the go signal to import the additional supply, Mr. Dalisay said.The tender process must start “now or in January” as imported rice “should arrive by June 2015, at the start of the lean months,” he said.The Philippines imported around 1.8 million tons of rice over the last 11 months, the biggest in four years -- including 1.5 million tons of this year‟s imports and 300,000 tons of last year‟s residual imports -- to replenish thinning stockpiles and bring down local retail prices.

The NFA is still authorized to import another 500,000 MT of rice this year, if need arises depending on supply conditions as affected by calamities, possible occurrence of El Niño, and the production output in the fourth quarter.Thailand and Vietnam remain the primary supply source of the country‟s rice. The NFA recently awarded to Thailand and Vietnam a contract to supply the Philippines with 500,000 MT of rice to beef up stocks, with the first tranch earlier set to arrive in the third week of October.The Philippines can enter into government-to-government deals with the two countries, including Cambodia with which it has rice procurement agreements.

Palay production hit 11.41 million metric tons (MT) in the nine months to September, of which the third quarter saw 3.03 million MT, 10% below the 3.36 million MT in the comparable threeContact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine month 2013 period, due to decline of production and harvest in Western Visayas, Davao region and Zamboanga Peninsula, reflecting the damage caused by typhoons Glenda, Luis and Mario during the period from July to September, the Philippine Statistics Authority (PSA) said in its report last Nov. 14.The agency projects a 5% year-on-year increase to 7.47 million MT this quarter to bring this semester‟s tally to 10.5 million MT, up just 0.5% from 10.44 million MT a year ago.All these are expected to bring palay production to total 18.88 million MT for the entire 2014, 2.4% more than 2013‟s 18.44 million MT, but short of a 19.07 million MT target for this year.

For the first quarter of 2015, PSA expects palay production to slip by 0.6% to 4.28 million MT from 4.31 million MT in the comparable three months this year as slightly improved yield fails to offset a contraction in harvest area.The Department of Agriculture earlier said it targets to produce 59,678,679 MT of rice in the next three years (2014-2016) as part of the department‟s commitment to attain rice self-sufficiency.The Philippines achieved 96% rice self-sufficiency when local farmers produced 18.44 million metric tons of rice in 2013, the country‟s highest rice production in history, the Agriculture department said, adding that the country‟s self-sufficiency in rice was at 82% at the start of the administration of President Benigno S. C. Aquino III in 2010.

DA drops 2014 goal on palay harvest

By Anna Leah G. Estrada | Nov. 30, 2014 at 11:35pm The Agriculture Department said over the weekend the country may not reach its target of producing 19.07 million metric tons of palay or unmilled rice this year, following a series of typhoons that affected harvests.Agriculture Secretary Proceso Alcala, however, said the 2014 production would still likely surpass the record harvest in 2013.“We are expecting that by the end of the year, we will be able to surpass the 18.44 million metric ton production last year,” Alcala said.Alcala said palay production this year would more likely reach 18.88 or 18.89 million MT. The Philippine Statistics Authority earlier said palay production in the first nine months hit 11.41 million MT, up from 11.36 million MT recorded a year ago.“While there were good harvest records of palay in the first half of the year, the third quarter production was adversely affected by typhoons Glenda and Luis,” the PSA said.“The onset of „habagat‟ also caused damages on standing crop in Central Luzon that resulted in lower yield. In Bicol region, the cutback in harvest area was triggered by the insufficiency of water supply in most provinces as well as damages from typhoon Glenda,” PSA said.

Production in the third quarter dropped by a tenth to 3.02 million MT from 3.4 million MT a year earlier.PSA said the drop in production was due to the decline of production and harvest areas in Western Visayas, Davao Region and Zamboanga Peninsula.“The decline in production and harvest areas in Davao Region and Zamboanga Peninsula was traced to the delayed plantings Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine because of insufficient supply of water from the irrigation systems and rainfall. Crop shifting of some palay farmers to cacao was also cited in the region,” PSA said. http://thainews.prd.go.th/centerweb/newsen/NewsDetail?NT01_NewsID=WNECO5711260010008#sthash.gep9euV3.dpuf

Thailand moving in on world’s number 1 rice exporter Date : 30 พฤศจิกายน 2557 BANGKOK, 30 November 2014 (NNT) - Thailand‟s rice exports made a one-year record high in October at 1.21 million tons, increasing the chance to export as high as 11 tons and reclaim the position of the world‟s number one rice exporter. President of the Thai Rice Exporters‟ Association Charoen Laothammathat said Thailand‟s rice exports in October increased by 59% compared to September. From January to October, Thailand exported 8.77 million tons worth 140 billion baht, increasing by 62% compared to the same period last year. The rice export hike in October was due to the Christmas and New Year festivals and Thailand‟s delivering of rice to China, Philippines and Indonesia under their government-to-government contracts, said the president. The price of Thai rice exports in November is expected to decline in line with the global rice price market and baht depreciation. Competition in the last two months will remain high since Vietnam, India and Pakistan will send their produce to the market during this period.

http://thainews.prd.go.th/CenterWeb/NewsEN/NewsDetail?NT01_NewsID=WNECO5711300010006#sthash.3eKj4Te3.dpuf

Japan to sharply cut 2015 rice output target to 7.51 mil. Tons Japan's farm ministry on Friday proposed setting the country's rice production target for human consumption in 2015 at 7.51 million tons, a decrease of 140,000 tons from the previous year.The reduction is smaller than the all-time high of 260,000 tons in 2014 but still considerable, as the Japanese government has continued to slash the target due to a decline in rice consumption as a result of the country's graying society and low prices caused by overstocks of rice produced in 2013.The Ministry of Agriculture, Forestry and Fisheries plans to achieve a balance between production and consumption before abolishing the current policy of reducing rice fields in 2018.

It also plans to continue heavily subsidizing farmers who convert their rice crops from produce for human consumption to livestock feed.Given its status as a staple food in Japan, rice is one of the country's main farm products. ==Kyodo Soruce: (Globalpost/GlobalPost)

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Daily Global Rice E-Newsletter by Riceplus Magazine Gov’t plans local rice sufficiency by 2018 Government‟s ambitious 2018 target for local rice farmers to fully meet domestic demand has been described as very feasible by the Ghana Grains Council, although it adds that such a feat will demand government‟s total commitment.The country‟s current rice production accounts for about 47 percent its 1.8 million m/t total rice consumption.Rice is one of the major items on Ghana‟s import bill, with a market size estimated to be over US$1billion. Reducing the size of rice imports has become a priority for government, which sees it as a way of easing pressure on foreign exchange reserves According to Dr. Godwin Ansah, Managing Director of the council, much as an outright ban of rice importation is a good thing, the current low capacity of local farmers means that they are unable to meet the market demand.“If that ban happens overnight, how do we meet the shortfall of more than 50 percent currently filled by imported rice? That‟s why any ban at all should not be immediate,” he said.The Ministry of Food and Agriculture, in its Food and Agriculture Sector Development Policy (FASDEP II), announced a raft of measures and initiatives that will see at least a 20 percent annual increment of local rice production.

Currently local rice producers, mostly smallholder farmers, gross about 600,000 tonnes annually amidst several challenges. Dr. Ansah told the B&FT in an interview that beyond just raising their output, there are other challenges the farmers have to contend with to boost local consumption.“These challenges have to do with issues of branding, marketing, which are major issues as far as local rice is concerned; we are very weak in that area. There‟s also limited access to good breeds or varieties of rice that help to boost productivity,” he added. Govt‟s lead role According to the Ghana Grains Council, government‟s assistance to local farmers by way of various policy support such as FASDEP, Ghana Commercial Agriculture Project (GCAP) are commendable, but government as a consumer must boost its purchases.

“There a lot of things government can do to help on the demand side. For instance, government can direct management of the School Feeding Programme to only use rice grown locally as against imported rice,” he said.Previously, management of the school feeding programme were sourcing rice locally; but due to the inability of government to release funds on time to pay local farmers, that relationship was strained. The GGC Council MD therefore believes a different approach to the relationship is needed to ensure the farmers remain in business.Ghana Grains Council is a private sector-led initiative by leaders in the grain business, established with the aim of intervening in the grains value chain to achieve improvement in productivity, quality and greater commercialisation of the industry.

Amira Nature Foods Meets Consensus; Jefferies Confirms and Updates Its Report Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine DUBAI, United Arab Emirates, Dec 01, 2014 (BUSINESS WIRE) -Amira Nature Foods Ltd (the "Company;" or "Amira" NYSE: ANFI), a leading global provider of packaged Indian specialty rice, today clarified that the adjusted earnings per share reported November 24, 2014 for its fiscal 2015 second quarter did meet Street consensus earnings estimates of $0.29 per share. It was erroneously reported by Jefferies analyst, Kevin Grundy, that the Street consensus earnings estimate was $0.32 per share for the fiscal 2015 second quarter.

As such, on November 26, 2014, Jefferies amended and re-published its research report with the correct Street consensus earnings estimates of $0.29 per share, and confirmed that Amira's fiscal 2015 second quarter did indeed meet Street consensus.

About Amira Nature Foods Ltd. Founded in 1915, Amira has evolved into a leading global provider of branded packaged Indian specialty rice, with sales in over 60 countries today. The Company sells Basmati rice, which is a premium long-grain rice grown only in certain regions of the Indian sub-continent, under its flagship Amira brand as well as under other third party brands. Amira sells its products through a broad distribution network in both the developed and emerging markets. The Company's global headquarters are in Dubai, United Arab Emirates, and it also has offices in India, Malaysia, Singapore, Germany, the United Kingdom, and the United States. Amira Nature Foods Ltd is listed on the New York Stock Exchange (NYSE) under the ticker symbol "ANFI." For more information please visit www.amira.net.

Cautionary Note on Forward-Looking Statements This release contains forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements generally can be identified by phrases such as that we or our members of management "believe," "expect," "anticipate," "foresee," "forecast," "estimate" or other words or phrases of similar import. Specifically, these statements include, among other things, statements that describe our expectations for the growth of our business, expansion into new geographic markets, maintaining and expanding our relationship with key retail partners, the financial impact of new sales contracts on our revenue, our plans to make significant capital expenditures, and other statements of management's beliefs, intentions or goals.

It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on our results of operations, financial condition, or the price of our ordinary shares. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to our ability to penetrate and increase the acceptance of our products in new geographic markets; our ability to perform our agreements with customers and further develop our relationships with key retail partners; our ability to recognize revenue from our contracts; continued competitive pressures in the marketplace; our reliance on a few customers for a substantial part of our revenue; our ability to implement our plans, forecasts and other expectations with respect to our business and realize additional opportunities for Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine growth; and the other risks and important factors contained and identified in our filings with the Securities and Exchange Commission.

All forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by these risk factors. Since we operate in an emerging and evolving environment and new risk factors and uncertainties emerge from time to time, you should not rely upon forward-looking statements as predictions of future events. Except as required under the securities laws of the United States, we undertake no obligation to update any forward-looking or other statements herein to reflect events or circumstances after the date hereof, whether as a result of new information, future events or otherwise.

Amira Nature Foods Ltd Condensed Consolidated Statements of Financial Position (Amounts in USD) --------------------------------------------------- ------------------- --------------------------------------------------As at As at September 30, 2014 March 31, 2014 (Unaudited) (Audited) --------------------------------------------------- ------------------- --------------------------------------------------ASSETS Non-current Property, plant and equipment $ 22,709,419 $ 23,284,918 Goodwill 1,608,842 1,727,338 Other intangible assets 2,008,421 2,262,731 Other long-term financial assets 676,666 485,731 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Total non-current assets $ 27,003,348 $ 27,760,718 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Current Inventories

$ 251,322,898

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Daily Global Rice E-Newsletter by Riceplus Magazine $ 254,952,549 Trade receivables 80,882,986 Derivative financial assets 2,352,886 Other financial assets 9,768,514 Prepayments 8,361,244 Other current assets 765,655 Cash and cash equivalents

86,483,943 8,937,351 9,490,256 1,389,419

25,677,486 37,606,098 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Total current assets $ 383,301,353 $ 394,689,932 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Total assets $ 410,304,701 $ 422,450,650 ==================== =========== ==================== ==================== ==================== =========== ==================== EQUITY AND LIABILITIES Equity Share capital $ 9,115 $ 9,115 Share premium 82,821,560 82,804,750 Other reserves (6,459,745 ) (3,312,575 ) Retained earnings 89,911,780 74,334,687 Equity attributable to shareholders of the Company $ 166,282,710 $ 153,835,977 Equity attributable to non-controlling interest 21,305,819 18,005,030 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Total equity $ 187,588,529 $ 171,841,007 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Liabilities Non-current liabilities Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine Defined benefit obligations $ 246,548 Debt 2,739,414 Deferred tax liabilities

$

319,635 1,989,020

5,934,002 6,666,270 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Total non-current liabilities $ 8,242,657 $ 9,652,232 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Current liabilities Trade payables $ 41,197,158 Debt 182,103,347 Current tax liabilities (net) 9,644,944 Derivative financial liabilities Other financial liabilities 6,031,593 Other current liabilities

$ 11,858,836 182,178,084 12,778,581 103,261 5,704,301

1,850,452 1,980,369 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Total current liabilities $ 214,473,515 $ 240,957,411 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Total liabilities $ 222,716,172 $ 250,609,643 -------------------- ----------- -------------------- ------------------- -------------------- ----------- -------------------Total equity and liabilities $ 410,304,701 $ 422,450,650 ==================== =========== ==================== ==================== ==================== =========== ==================== Amira Nature Foods Ltd Condensed Consolidated Statements of Profit or Loss (Amounts in USD) -----------------------------------------------------------------------------------Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine -------------------- ----------------------------------------------------------------------------------Six months ended Three months ended September 30, 2014 September 30, 2013 September 30, 2014 September 30, 2013 (Unaudited) (Unaudited) (Unaudited) (Unaudited) -------------------------------- -------------------- --------------------------------------------------- -------------------------------- -------------------- ------------------------------Revenue $ 280,200,545 $ 218,296,338 $ 141,387,573 $ 108,011,250 Other income 74,659 95,063 24,200 57,187 Cost of material (267,672,107 ) (181,941,294 ) (123,435,208 ) (92,069,372 ) Change in inventory of finished goods 49,112,448 12,484,391 13,123,609 10,115,880 Employee benefit expenses (5,419,006 ) (4,252,315 ) (2,860,498 ) (2,107,397 ) Depreciation and amortization (1,202,179 ) (951,200 ) (582,127 ) (462,317 ) Freight, forwarding and handling expenses (9,416,138 ) (9,861,688 ) (4,540,401 ) (3,320,673 ) Other expenses (11,566,530 ) (6,457,078 ) (6,122,934 ) (3,035,481 ) ------------ -------------------- -------------------- ------------ ------------------- -------------------- ------------ -------------------- -------------------- ----------- -------------------$ 34,111,692 $ 27,412,217 $ 16,994,214 $ 17,189,077 Finance costs (15,137,450 ) (10,579,446 ) (8,105,864 ) (5,415,924 ) Finance income 1,083,361 1,563,146 447,315 778,169 Other gains and (losses) 3,291,671 190,828 2,029,103 (3,567,810 ) ------------ -------------------- -------------------- ------------ ------------------- -------------------- ------------ -------------------- -------------------- ----------- -------------------Profit before tax for the period $ 23,349,274 $ 18,586,745 $ 11,364,768 $ 8,983,512 Income tax expense (3,702,122 ) (4,960,365 ) (926,432 ) (2,703,828 ) ------------------------------------------------------ ----------------------------------------------------- ------------------------------------------------------ --------------------------------Profit after tax for the period $ 19,647,152 $ 13,626,380 $ 10,438,336 $ 6,279,684 Profit after tax attributable to: Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine Shareholders of the Company $ 8,272,706 Non-controlling interest $ 2,165,630 Earnings per share Basic earnings per share $ 0.29 Diluted earnings per share $ 0.18

$ 15,577,093 $ 5,023,637 $ 4,070,059 $ 1,256,047

$ $ $

$ 10,904,385 $

0.54 0.18 0.54

2,721,995

$ $

0.38

0.38 $

0.29

------------ -------------------- -------------------- ------------ ------------------- -------------------- ------------ -------------------- -------------------- ----------- -------------------Amira

Nature

Foods

Ltd Condensed

Consolidated

Statements of Comprehensive Income (Amounts in USD) -------------------------------------------

---------------------------------------------------------------------- -----------------------------------------------------------------Six months ended

Three months ended September 30, 2014 September 30, 2013 (Unaudited) (Unaudited) (Unaudited) (Unaudited) ------------------------------ -------------------------------------------------- -------------------- ------------------------------ -------------------- ----------------------------Profit after tax for the period $ 19,647,152 $ 13,626,380 $ 10,438,336 $ 6,279,684 Other comprehensive income Items that may be reclassified subsequently to profit or loss: Available for sale financial assets: Current period gain/(loss) 30,129 (23,793 ) (4,833 ) (52,389 ) Reclassification to profit or loss Income tax (5,400 ) 8,087 1,643 17,807 ---------- -------------------- ------------------------------ -------------------- -------------------- ---------- -------------------- -------------------- ---------- ------------------$ 24,729 $ (15,706 ) September 30, 2013

September 30, 2014

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Daily Global Rice E-Newsletter by Riceplus Magazine $

(3,190 )

$

(34,582 )

---------- -------------------- ------------------------------ -------------------- -------------------- ---------- -------------------- -------------------- ---------- ------------------Cash flow hedging reserve: Current period gain/(loss) 1,667,700 (11,066,017 ) (273,571 ) (3,082,425 ) Reclassification to profit or loss (2,587,545 ) 2,208,545 (1,292,189 ) 2,722,317 Income tax 312,655 3,010,655 532,202 122,401 ---------- -------------------- ------------------------------ -------------------- -------------------- ---------- -------------------- -------------------- ---------- ------------------$ (607,190 ) $ (5,846,817 ) $ (1,033,558 ) $ (237,707 ) ---------- -------------------- ------------------------------ -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------------------------------------------------------- ----------------------------------------------------- ---------------------------------------------------- ------------------------------Currency translation reserve (3,333,979 ) (17,574,930 ) (3,299,161 ) (6,250,496 ) ---------- -------------------- ------------------------------ -------------------- -------------------- ---------- -------------------- -------------------- ---------- --------------------------------------------------------------------- ----------------------------------------------------- ---------------------------------------------------- ------------------------------Other comprehensive income/(loss) for the period, net of tax $ (3,916,440 ) $ (23,437,453 ) $ (4,335,909 ) $ (6,522,785 ) ---------- -------------------- ------------------------------ -------------------- -------------------- ---------- -------------------- -------------------- ---------- ------------------Total comprehensive income/(loss) for the period $ 15,730,712 $ (9,811,073 ) $ 6,102,427 $ (243,101 ) ---------- -------------------- ------------------------------ -------------------- -------------------- ---------- -------------------- -------------------- ---------- ------------------Total comprehensive income/(loss) for the period attributable to: Shareholders of the Company $ (7,939,327 ) $ 4,788,460

$ 12,429,923 $ (220,682 )

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Daily Global Rice E-Newsletter by Riceplus Magazine Non-controlling interest (1,871,746 )

$ 3,300,789 $ $ 1,313,967 $ (22,419 ) ---------- -------------------- ------------------------------ -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------

Amira Nature Foods Ltd Condensed Consolidated Statements of Changes in Equity

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Other reserves (Amounts in USD) ------------------------------------------------- -------------------- -------------------- --------------------------------------------- -------------------- -------------------- ------------------------------ -------------------- ------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------------------------------ -------------------- -------------------- ---------------------------------------------------------------------------------------------------Share capital Share premium Share-based compensation reserve Reserve for Currency translation Cash flow hedging Restructuring Retained Equity Equity Total equity available for Reserve to sale shareholders of the Company

reserve earnings attributable to

reserve attributable

financial non - controlling interest

assets ------------------------------------------------- -------------------- ----------------------------------------------------------------- -------------------- -------------------------------------------------- -------------------- --------------------------------------- -------------------- -------------------------------------------------- ------------------- --------------------------------------- -------------------- --------------------------------------- ------------------- ---------------------------------------- -------------------- ---------------------------------------- ------------------- --------------------------------------------------- -------------------- ------------------------------------------------- -------------------- --------------------------------------------------Balance as at April 1, 2013 (Audited) $ 9,111 Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine $ 82,639,766 $ 227,674 $ (21,561 ) $ (5,582,983 ) $ 258,647 $ 9,398,927 $ 44,375,024 $ 131,304,605 $ 12,328,130 $ 143,632,735 Share based compensation 154,822 $ 154,822 $ 154,822 Profit after tax for the period 10,904,385 $ 10,904,385 2,721,995 $ 13,626,380 Other comprehensive income /(loss) for the period (12,627 ) (14,130,244 ) (4,700,841 ) $ (18,843,712 ) (4,593,741 ) $ (23,437,453 ) Total comprehensive income/(loss) for the period $ $ $ $ (12,627 ) $ (14,130,244 ) $ (4,700,841 ) $ $ 10,904,385 $ (7,939,327 ) $ (1,871,746 ) $ (9,811,073 ) ------------------------------------------------- -------------------- -------------------- -------------------- ------ ------------------- -------------------- -------------------- ---------- -------------------- -------------------- ------------------- -------------------- -------------------- -------------------- ---------- -------------------- ------------------- -------------------- ----------- -------- -------------------- -------------------- ---------- --------- ------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------- -------------------- ----------- -------------------- -------------------- -------------------- ----------------------------- -------------------- -------------------- ----------- -------------------Balance as at September 30, 2013 (Unaudited) $ 9,111 $ 82,639,766 $ 382,496 $ (34,188 ) $ (19,713,227 ) $ (4,442,194 ) $ 9,398,927 $ 55,279,409 $ 123,520,100 $ 10,456,384 $ 133,976,484 ================================================= ==================== ==================== ==================== ====== ==================== ==================== ==================== ========== ==================== ==================== ==================== ==================== ==================== ==================== ========== ==================== ==================== ==================== =========== ======== ==================== ==================== ========== ========= ==================== ==================== ==================== ==================== ==================== ==================== ==================== ==================== =========== ==================== ==================== ==================== ========== ==================== ==================== ==================== Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine =========== ==================== ------------------------------------------------- -------------------- -------------------- -------------------------------------------------------------------- -------------------- ---------------------------------------------------- ------------------- -------------------- -------------------- -------------------- --------------------------------------------------- -------------------- ----------------------------------------- -------------------- ---------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------- -------------------- ----------------------------------------------------- -------------------- --------------------------------------------------- -------------------- --------------------------------Balance as at April 1, 2014 (Audited) $ 9,115 $ 82,804,750 $ 2,863,362 $ (30,127 ) $ (16,018,401 ) $ 473,664 $ 9,398,927 $ 74,334,687 $ 153,835,977 $ 18,005,030 $ 171,841,007 Share based compensation 4 54,996 $ 55,000 $ 55,000 Repurchase of shares from ex-director (4 ) (38,186 ) (38,190 ) (38,190 ) Profit after tax for the period 15,577,093 $ 15,577,093 4,070,059 $ 19,647,152 Other comprehensive income /(loss) for the period 19,871 (2,679,116 ) (487,925 ) $ (3,147,170 ) (769,270 ) $ (3,916,440 ) Total comprehensive income/(loss) for the period $ $ $ $ 19,871 $ (2,679,116 ) $ (487,925 ) $ $ 15,577,093 $ 12,429,923 $ 3,300,789 $ 15,730,712 ------------------------------------------------- -------------------- -------------------- -------------------- ------ ------------------- -------------------- -------------------- ---------- -------------------- -------------------- ------------------- -------------------- -------------------- -------------------- ---------- -------------------- ------------------- -------------------- ----------- -------- -------------------- -------------------- ---------- --------- ------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------- -------------------- ----------- -------------------- -------------------- -------------------- ----------------------------- -------------------- -------------------- ----------- -------------------Balance as at September 30, 2014 (Unaudited) $ $ 9,115 Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine $ 82,821,560 $ 2,863,362 $ (10,256 ) $ (18,697,518 ) $ (14,261 ) $ 9,398,927 $ 89,911,780 $ 166,282,711 $ 21,305,819 $ 187,588,529 ================================================= ==================== ==================== ==================== ====== ==================== ==================== ==================== ========== ==================== ==================== ==================== ==================== ==================== ==================== ========== ==================== ==================== ==================== =========== ======== ==================== ==================== ========== ========= ==================== ==================== ==================== ==================== ==================== ==================== ==================== ==================== =========== ==================== ==================== ==================== ========== ==================== ==================== ==================== =========== ==================== Amira Nature Foods Ltd Condensed Consolidated Statements of Cash Flows (Amounts in USD) -----------------------------------------------------------------------------------------------------------------------Six months ended September 30, 2014 September 30, 2013 (Unaudited) (Unaudited) --------------------------------------------------- ------------------- -------------------------------------------------(A) CASH FLOW FROM OPERATING ACTIVITIES Profit before tax for the period $ 23,349,274 $ 18,586,745 Adjustments for non-cash items 2,297,255 (2,295,894 ) Adjustments for non-operating incomes and expenses 14,053,132 9,011,062 Changes in operating assets and liabilities (41,709,501 ) (4,420,317 ) -------------------- ----------- -------------------- ------------------- -------------------- ---------- -------------------$ (2,009,840 ) $ 20,881,596 Income taxes paid (509,525 ) (547,045 ) -------------------- ----------- -------------------- ------------------- -------------------- ---------- -------------------Net cash generated from/ (used in) operating activities $ (2,519,365 ) Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine $ 20,334,551 -------------------- ----------- -------------------- ------------------- -------------------- ---------- -------------------(B) CASH FLOW FROM INVESTING ACTIVITIES Purchase of property, plant and equipment $ (1,320,860 ) $ (781,245 ) Purchase of intangible assets (212,448 ) Proceeds from sale of property, plant and equipment 1,448 5,333 Proceeds from term deposits 9,063,340 6,883,986 Investments in term deposits (7,663,164 ) (8,629,936 ) Purchase of short term investments (33,200 ) (153,450 ) Interest income 364,706 340,038 -------------------- ----------- -------------------- ------------------- -------------------- ---------- -------------------Net cash generated from/ (used in) investing activities $ 412,270 $ (2,547,722 ) -------------------- ----------- -------------------- ------------------- -------------------- ---------- -------------------(C) CASH FLOWS FROM FINANCING ACTIVITIES Repurchase of shares (38,190 ) Net proceeds from short term debt $ 4,467,758 $ 8,706,169 Proceeds from long term debt 18,150 32,442 Repayment of long term debt (716,850 ) (952,320 ) Interest paid (12,750,565 ) (9,927,782 ) -------------------- ----------- -------------------- ------------------- -------------------- ---------- -------------------Net cash used in financing activities $ (9,019,697 ) $ (2,141,491 ) -------------------- ----------- -------------------- ------------------- -------------------- ---------- -------------------(D) Effect of change in exchange rate on cash and cash (801,820 ) (3,845,371 ) equivalents -------------------- ----------- -------------------- ------------------Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine - -------------------- ---------- -------------------Net increase/ (decrease) in cash and cash equivalents (A+B+C+D) $ (11,928,612 ) $ 11,799,967 -------------------- ----------- -------------------- ------------------- -------------------- ---------- -------------------Cash and cash equivalents at the beginning of the period 37,606,098 33,270,338 Cash and cash equivalents at the end of the period $ 25,677,486 $ 45,070,305 -------------------- ----------- -------------------- ------------------- -------------------- ---------- --------------------

In evaluating our business, we consider and use the non-IFRS measures EBITDA, adjusted EBITDA, adjusted profit after tax, adjusted earnings per share, adjusted net working capital and net debt as supplemental measures to review and assess our operating performance. The presentation of these non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. We define: (1) EBITDA as profit after tax plus finance costs (net of finance income), income tax expense and depreciation and amortization; (2) adjusted EBITDA, as EBITDA plus non-cash expense for share-based compensation for three and six months ended September 30, 2014 and 2013, respectively (3) adjusted profit after tax, as profit after tax plus non-cash expense for share-based compensation for three and six months ended September 30, 2014 and 2013, respectively; (4) adjusted earnings per share as the quotient of: (a) adjusted profit after tax and (b) the sum of our weighted average number of shares (including dilutive impact of share options granted) for the applicable period and the ordinary shares subject to the exchange agreement between us and the non-controlling shareholders of Amira India; (5) adjusted net working capital as total current assets minus: (a) total current liabilities (b) cash and cash equivalents and plus current debt; and (6) net debt as total current and non-current debt minus cash and cash equivalents.

We use both EBITDA and adjusted EBITDA as measures of operating performance to assist in comparing performance from period to period on a consistent basis, as a measure for planning and forecasting overall expectations, for evaluating actual results against such expectations and as a performance evaluation metric, including as part of assessing and administering our executive and employee incentive compensation programs.

We believe that the use of both EBITDA and adjusted EBITDA as non-IFRS measures facilitates investors' assessment of our operating performance from period to period and from company to company by backing out potential differences caused by variations in items such as capital structure (affecting relative finance or interest expenses), non-recurring IPO-related expenses, the book amortization of intangibles (affecting relative amortization expenses), the age and book value of property and equipment (affecting relative depreciation expenses) and other non-cash expenses. We also present these non-IFRS measures because we believe they are frequently used by securities analysts, investors and other interested parties as measures of the financial performance of companies in our industry.These non-IFRS financial measures are not defined under IFRS and are not presented in accordance with IFRS. These non-IFRS financial measures have limitations as Contact us for Advertisement & Specs: mujahid.riceplus@gmail.com +92 321 369 2847

Daily Global Rice E-Newsletter by Riceplus Magazine analytical tool, and when assessing our operating performance, investors should not consider it in isolation, or as a substitute for profit/ (loss) or other consolidated statements of operations data prepared in accordance with IFRS. Some of these limitations include, but are not limited to: • it does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments;• it does not reflect changes in, or cash requirements for, our working capital needs;• it does not reflect the finance or interest expenses, or the cash requirements necessary to service interest or principal payments, on our debt;• it does not reflect income taxes or the cash requirements for any tax payments; • although depreciation and amortization are non-cash charges, the assets being depreciated and amortized often will have to be replaced in the future, and adjusted net profit and EBITDA do not reflect any cash requirements for such replacements; • other companies may calculate EBITDA differently than we do, limiting the usefulness of this non-IFRS measure as a comparative measure.We compensate for these limitations by relying primarily on our IFRS results and using non-IFRS measures only as a supplemental information.We present adjusted EBITDA, adjusted profit after tax, adjusted earnings per share, adjusted net working capital and net debt because we believe these measures provide additional metrics to evaluate our operations and, when considered with both our IFRS results and the reconciliation to profit after tax, basic and diluted earnings per share, working capital and total current and noncurrent debt, respectively, provide a more complete understanding of our business than could be obtained absent this disclosure. We also believe that these non-IFRS financial measures are useful to investors in assessing the operating performance of our business after reflecting the adjustments described above.

In the following tables we have provided reconciliation of non-IFRS measures to the most directly comparable IFRS measure: 1. Reconciliation of profit after tax to EBITDA and adjusted EBITDA: Six months ended

Three months

ended --------------------------------------------------- -------------------- ---------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------September 30, September 30, September 30, September 30, 2014 2013 2014 2013

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