20th november,2013 daily rice e newsletter(international rice news) by riceplus magazine

20th November , 2013

TOP Contents - Tailored for YOU Latest News Headlines…  Biliran has enough supply of rice, NFA  Typhoon Haiyan’s Aftermath Threatens Rice Harvest in Philippines  Philippines typhoon crop damage worth $110 million: FAO  One-third of Philippines' rice-growing areas severely affected by typhoon  Thailand to reclaim world's leading rice exporter role next year  Govt expects more rice deals with China in 2014  Philippine order hope pushes Vietnamese rice prices higher  4 bidders joined 6th pledged rice auction  Typhoon hits one-third of PH's rice-growing areas - UN  Nagpur Foodgrain Prices Open- Nov 20  Agri Buzz : Rice Procurement Surges, Punjab And Haryana Top The List  TABLE-India Grain Prices-Delhi- Nov 20  Bond to help fund rice plan  Wheat, rice basmati prices firm up on increased buying  China buys 1.2 million tonnes of Thai rice

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NEWS DETAILS: Biliran has enough supply of rice, NFA BY: MARIA LAILANI TUPAZ Thursday 21st of November 2013 NAVAL, Biliran, November 21 (PIA) – NFA BIliran Provincial Economist Milagros Caneja disclosed that Biliran province, the municipalities of Calubian and Leyte of the province of Leyte are assured of enough supply of rice from their office.As of Nov. 15, 2013, NFA-Biliran has 1,605 bags of local rice; 28,468 bags of imported rice; and 17,004 bags of local palay to a total rice equivalent of 41,126 bags which is expected to last for 19 days.Biliran province, the municipalities of Calubian and Leyte of the province of Leyte have daily consumption requirement of 2,120 bags.Immediately after the devastating Typhoon Yolanda, NFA-Biliran was able to release 800 bags in credit sales and 2,469 bags in cash sales to local government units for their relief operations.The rice releases cater to all municipalities in Biliran, Calubian, and Leyte, Leyte.

Caneja added that some 30,000 bags of rice from Cebu are ready for shipment to Biliran.The province of Biliran particularly the towns of Naval and Caibiran are the highest rice producing municipalities. However, most of the rice ready for harvesting this time were greatly affected by the rage of Typhoon Yolanda. Thus, supply for local rice becomes insufficient and businessmen take advantage of the demand. (PIA 8 Biliran)

Typhoon Haiyan’s Aftermath Threatens Rice Harvest in Philippines

By Christina Larson November 20, 2013 Extreme weather often has the greatest impact on the most vulnerable. And now hundreds of thousands of farmers in central Philippine must recover from significant crop losses in wake of Typhoon Haiyan, even as they struggle to prepare for the next rice-planting season in December.The United Nations Food & Agricultural Organization has called for $24 million in aid to 250,000 Philippines households involved in agriculture and fisheries. “Initial estimates reveal that hundreds of thousands of hectares of rice and other key crops like coconut have been affected due to the typhoon,” Dominique Burgeon, director of FAO’s emergency and rehabilitation division, said in a statement on Wednesday. “Planting of the secondary season, mostly irrigated rice, was well underway and it is expected that crops are severely compromised. ”The FAO estimates that one-third of rice-producing regions in the country were “severely affected” by the typhoon. Irrigation systems and grain-storage facilities also suffered significant damage. “If we want to avoid

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entire regions of the country having to rely on food aid, we need to act now to help vulnerable families to plant or replant by late December,� Burgeon said. Typhoon Haiyan has already displaced more than 4 million people, according to estimates from the UN Office for the Coordination of Humanitarian Affairs.

Philippines typhoon crop damage worth $110 million: FAO MILAN Tue Nov 19, 2013 6:13pm EST An aerial view of fallen coconut trees is seen in the aftermath of Super Typhoon Haiyan in the eastern Samar town of Guiuan November 19, 2013.

CREDIT: REUTERS/WOLFGANG RATTAY (Reuters) - The typhoon that hit the Philippines has caused crop losses worth $110 million and inflicted damage to the agriculture sector of more than twice that figure, preliminary estimates from the United Nation's food agency showed on Tuesday.Some 153,495 hectares (ha) of rice paddy, maize and other high value crops such as coconut, banana, cassava, mango and vegetables have been hit by Typhoon Haiyan, which killed at least 3,900 people when it struck on November 8."High winds, heavy rains and localized floods destroyed houses and infrastructure, including irrigation facilities, and resulted in losses of the main staple rice paddy, sugarcane and coconut crops, as well as livestock, poultry and fisheries," the Food and Agriculture Organisation (FAO) said in a statement.

The forecast for damaged areas included some 77,476 ha of rice crops and 20,951 ha of maize crops, it added.The FAO also said that imports of rice are expected to increase by 20 percent next year to 1.2 million tonnes.Earlier on Tuesday the Philippines' National Food Authority (NFA) said it will import up to 500,000 tonnes of rice from its neighboring countries, possibly before the end of the year, as it replenishes stocks that have been depleted by the ongoing typhoon relief efforts.Because of Haiyan and another typhoon which hit northern parts of the Philippines in October, the FAO cut its 2013 aggregate rice paddy output forecast including the main 2013 season and the 2013/14 secondary season - to 18 million tonnes from previous estimates of a bumper crop of 18.9 million tonnes."At the revised level, the 2013 paddy output would be slightly lower than that of 2012," it said.

The final output will depend on timely rehabilitation and provision of seeds and fertilizers to allow farmers to replant before the end of the sowing period, the FAO said, calling for $24 million for immediate action targeting 250,000 households.Philippine authorities and international aid agencies face a mounting humanitarian crisis, with the number of people displaced by the catastrophe estimated at 4 million.

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(Reporting by Agnieszka Flak; editing by Keiron Henderson)

One-third of Philippines' rice-growing areas severely affected by typhoon Typhoon Haiyan severely affected one-third of the Philippines' rice-growing areas, the UN food agency said on Tuesday, calling for "urgent assistance" to farmers who need to sow new seeds.

A typhoon victim lays out rice grains to be dried in Jaro.

(AFP/Nicolas Asfouri) ROME: Typhoon Haiyan hit one-third of the Philippines' rice-growing areas, the UN food agency said on Tuesday, calling for "urgent assistance" to farmers who need to sow new seeds."Regions most severely affected by the typhoon account for one-third of the total rice production in the country," the UN Food and Agriculture Organisation (FAO) said in a statement."Hundreds of thousands of farmers in the Philippines whose crops were destroyed by Typhoon Haiyan need urgent assistance to sow new seeds before the end of the current planting season," it said.

The main-season harvest of the staple grain was well under way in the central Philippines when the typhoon hit, also "badly disrupting" ongoing planting for the secondary season, the FAO said.The Rome-based agency added: "There is concern that many storage facilities may have been destroyed, along with their contents."Dominique Burgeon, head of FAO's Emergency and Rehabilitation Division, said in the statement: "If we want to avoid entire regions of the country having to rely on food aid, we need to act now to help vulnerable families to plant or replant by late December."The agency plans to supply seeds for rice and maize as well as tools, fertiliser and irrigation equipment, it said.

"Families will also receive vegetable seeds to help bridge the gap before the next harvest," it added.Some 13 million people were affected by Haiyan, one of the most powerful typhoons ever recorded, which struck the Philippine archipelago on November 8, claiming at least 4,000 lives.Four million people were displaced, according to the UN humanitarian agency OCHA.An estimated 2.5 million are in need of food aid.

- AFP/fa/xq Thailand to reclaim world's leading rice exporter role next year Nov 20 – Thailand is maintaining its original projection to export seven million tonnes of rice this year and is set to reclaim its previous role as world’s top rice exporter next year, according to the Commerce Ministry.Deputy Prime Minister/Commerce Minister Niwatthamrong Boonsongpaisan will today sign an

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agreement to sell rice and tapioca to representatives of the Chinese government following an earlier expressed intention by China to buy 1.2 million tonnes of rice from Thailand.

Surasak Riangkrul, director general of the Foreign Trade Department, said 400,000 tonnes of rice in stocks countrywide will in addition be sold to more than 30 exporters.He said the Commerce Ministry has repaid Bt140 billion from rice sales in the pledging scheme and another batch of Bt24 billion will be returned (to the Finance Ministry) next month.A total of Bt164 billion will be paid this year and the ministry plans to return Bt130 billion next year, at an average Bt12 billion per month, he said.

Mr Surasak said the Commerce Ministry was negotiating to sell rice on government-to-government basis to China, and countries in Southeast Asia, the Middle East and Africa.He predicted a positive trend for Thai rice sales next year as several countries including India and Vietnam will possibly export less after their crops were hit by natural disasters.The Commerce Ministry is coordinating with the Foreign Ministry to deliver rice to help typhoon-ravaged Philippines, he added.Mr Surasak said four private companies joined an auction yesterday to buy 452,000 tonnes of rice from the Commerce Ministry.

Bid results will be announced today after which price negotiations will be held.Meanwhile, the Bank of Agriculture and Agricultural Cooperatives (BAAC) is offering Bt75 billion worth of bonds with a three-year maturity to generate extra funds for the rice subsidy plan, said Suvich Rojanavanich, deputy director of the Public Debt Management Office.Total bonds issued by 13 Thai state enterprises are currently valued at Bt706.978 billion with the BAAC offered the highest value of Bt205 billion mainly to subsidise the rice pledging scheme.

Govt expects more rice deals with China in 2014 PETCHANET PRATRUANGKRAI THE NATION November 21, 2013 1:00 am THE COMMERCE MINISTRY expects to sell more rice to China and other

countries next year after clinching a contract to supply about 3 million tonnes to China this year."The government should be able to release more rice from stockpiles next year. Now less than 7 million tonnes remains in warehouses from a total of 10 million tonnes," Commerce Minister Niwatthumrong Boonsongpaisan said yesterday.The ministry's Foreign

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Trade Department signed a government-to-government contract with Chinese state-owned Beijing Great Northern Wilderness Rice Industry, a subsidiary of Heilongjiang province's Beidahuang, to supply 1.2 million tonnes of 5-per-cent white rice over two years and 90,000 tonnes of tapioca to China.Niwatthumrong said the government was negotiating more rice contracts with China and other countries.The ministry did not disclose the value of the contract with China, saying the price was in line with the market price and should not create a huge loss for the government.China will choose its own rice quality improving and shipping company under an ex-warehouse contract, which excludes shipping costs. About 50,000 tonnes of rice will be shipped to that country each quarter. For this year, about 15,000 tonnes will be exported to China.

This is the third contract with China this year. The first was signed by the Thai Rice Exporters Association and China's state-owned Cofco (China National Cereals, Oils and Foodstuffs Corporation) for 1 million tonnes over five years. The next contract was a G2G deal between the Foreign Trade Department and Cofco, also for 1 million tonnes over five years.Niwatthumrong said China had high demand for foreign rice and other agricultural products as it wanted to supply both its domestic market and allied countries. The ministry is scheduled to sell 131,849 tonnes on the Agricultural Futures Exchange of Thailand on Monday. This will include 114,000 tonnes of 5-per-cent white rice and 17,000 tonnes of 100-per-cent jasmine rice.Deputy Commerce Minister Yanyong Phuangrach said the government would gradually release rice to |the futures market and to general bidding, as global demand was expected to rise after natural disasters in many countries.

Philippine order hope pushes Vietnamese rice prices higher NOVEMBER 20, 2013 Expectations of fresh demand from typhoon-hit Philippines have pushed Vietnamese rice prices higher over the past week, at a time global demand has remained tepid, traders said today.The Philippines' National Food Authority said it will import up to 500,000 tonnes of rice from neighbouring countries to replenish dwindled stocks after being hit by Typhoon Haiyan."Prices have risen in Vietnam in anticipation of such demand, and also partly because there is no new supply," a trader at a foreign firm in Ho Chi Minh City said.

The Vietnamese 5% broken rice rose to $400-$410 (RM1,274.80-RM1,306.67) a tonne, free-on-board basis, from last week's $395-$405 (RM1,258.87-RM1,290.73).The 25% broken rice also rose, to $375-$380 (RM1,195.13-RM1,211.06) a tonne from $360-$375 (RM1,147.32-RM1,195.13) a week ago.Supply has tightened, with the last harvest ending in October. Grain from Vietnam's next crop will be available from late February at the earliest in the Mekong Delta food basket.In Thailand, price of common grade 5% broken rice was at $420 (RM1,338.54) per tonne, up from last week's $410 (RM1,306.67), due to demand for parboiled rice

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from Africa, traders said.A total of around 10,000 tonnes of Thai parboiled rice was sold to Benin and Nigeria, they said.

"Demand for parboiled rice from African countries helped support Thai prices in general," said a Bangkokbased trader.However, traders said African demand was unlikely to help boost Thai prices in the long run as rising supply still weighed on prices.Harvesting of Thailand's main 2013/14 crop is expected to flood the market with around 28.4 million tonnes of paddy. Supply normally peaks in late November.The Thai government is scrambling to sell stocks amassed in a populist grain-buying scheme designed to support farmers to prepare space for the new arrivals. It is also issuing a $2.4 billion (RM7.6 billion) bond to fund the subsidy scheme.Vietnam is the world's No. 2 rice exporter and Thailand the third-biggest. - Reuters, November 20, 2013.

4 bidders joined 6th pledged rice auction Date : 20

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BANGKOK, 20 Nov 2013, (NNT) -The Commerce Ministry has revealed that 4 bidders have joined the 6th pledged rice auction. A total of 452,000 tons of rice were on auction this round, 300,000 tons of which were 100% second class Jasmine rice and A1-Lert broken milled rice; the rest was 5% white rice. According to the ministry, this batch of rice may be exported as well as being sold domestically. The atmosphere at the auction was reportedly quiet, with only 4 bidders bidding for the rice; the four companies were Royal Richie Rice, Asia Golden Rice,Capital Cereals, and CP Rice. The 5% white rice was the most popular item, receiving offers from 3 bidders. The rice clearance committee would determine the winner and further negotiate with the company for appropriate prices, if necessary, before concluding the deal later on. /

Typhoon hits one-third of PH's rice-growing areas - UN Agence France-Presse Posted at 11/20/2013 7:37 AM | Updated as of 11/20/2013 5:40 PM

ROME - Typhoon Haiyan wiped out one-third of the Philippines' rice-growing areas, the UN food agency said Tuesday, calling for "urgent assistance" to farmers who need to sow new seeds."Regions most severely affected by the typhoon account for one-third of the total rice production in the country," the UN Food and Agriculture Organisation said in a statement."Hundreds of thousands of farmers in the Philippines whose crops were destroyed by Typhoon Haiyan need urgent assistance to sow new seeds before the end of the current planting season," it said.The main-season harvest of the staple grain was well under way in the central Philippines when the typhoon hit, also "badly disrupting" ongoing planting for the secondary season, the FAO said.

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The Rome-based agency added: "There is concern that many storage facilities may have been destroyed, along with their contents."Dominique Burgeon, head of FAO's Emergency and Rehabilitation Division, said in the statement: "If we want to avoid entire regions of the country having to rely on food aid, we need to act now to help vulnerable families to plant or replant by late December."The agency plans to supply seeds for rice and maize as well as tools, fertilizer and irrigation equipment, it said."Families will also receive vegetable seeds to help bridge the gap before the next harvest," it added.Some 13 million people were affected by Haiyan, one of the most powerful typhoons ever recorded, which struck the Philippine archipelago on November 8, claiming at least 4,000 lives.Four million people were displaced, according to the UN humanitarian agency OCHA.An estimated 2.5 million are in need of food aid.

Nagpur Foodgrain Prices Open- Nov 20 Wed Nov 20, 2013 3:32pm IST

Nagpur, Nov 20 (Reuters) - Gram and tuar prices in Nagpur Agriculture Produce and Marketing Committee (APMC) showed weak tendency on lack of demand from local millers amid high moisture content arrival. Easy condition on NCDEX in gram, increased overseas tuar supply and easy condition in Madhya Pradesh pulses also pushed down prices in thin trading activity, according to sources. *

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FOODGRAINS & PULSES GRAM * Desi gram prices reported down in open market on poor buying support from local traders amid release of stock from stockists.

TUAR * Tuar varieties ruled steady in open market on subdued demand from local traders amid ample stock in ready position. * Moong mogar bold and medium best jacked up in open market on good demand from local traders amid weak supply from producing belts. * In Akola, Tuar - 4,300-4,450, Tuar dal - 6,500-6,700, Udid at 4,800-5,100, Udid Mogar (clean) - 5,700-6,000, Moong - 6,200-6,600, Moong Mogar (clean) 7,400-7,600, Gram - 3,300-3,500, Gram Super best bold - 4,400-4,600 for 100 kg. * Wheat, rice and other commodities remained steady in open market in thin trading activity, according to sources.

Nagpur foodgrains APMC auction/open-market prices in rupees for 100 kg FOODGRAINS Gram Auction

Available prices Previous close 2,550-2,780 2,550-2,900

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Gram Pink Auction n.a.

2,100-2,600 Tuar Auction 3,950-4,100 3,950-4,150 Moong Auction n.a.

4,300-4,500 Udid Auction n.a.

4,300-4,500 Masoor Auction n.a.

2,600-2,800 Gram Super Best Bold 4,400-4,800 4,400-4,800 Gram Super Best n.a.

Gram Medium Best 4,000-4,300 4,000-4,300 Gram Dal Medium n.a. n.a.

Gram Mill Quality 3,700-3,750 3,700-3,750 Desi gram Raw 3,450-3,500 3,500-3,550 Gram Filter Yellow n.a. n.a.

Gram Kabuli 7,700-9,900 7,700-9,900 Gram Pink 7,700-8,100 7,700-8,100 Tuar Fataka Best 6,900-7,100 6,900-7,100 Tuar Fataka Medium 6,600-6,700 6,600-6,700 Tuar Dal Best Phod 6,300-6,400 6,200-6,300 Tuar Dal Medium phod 6,100-6,200 6,100-6,200 Tuar Gavarani 4,450-4,550 4,450-4,550 Tuar Karnataka 4,650-4,750 4,650-4,750 Tuar Black 7,000-7,100 7,000-7,100 Masoor dal best 5,200-5,300 5,200-5,300 Masoor dal medium 4,800-4,900 4,800-4,900 Masoor n.a. n.a.

Moong Mogar bold 8,100-8,500 8,000-8,400 Moong Mogar Medium best 7,800-8,000 7,700-7,900 Moong dal super best 7,000-7,200 7,000-7,200 Moong dal Chilka 6,400-6,750 6,400-6,750 Moong Mill quality n.a. n.a.

Moong Chamki best 7,000-7,200 7,000-7,200 Udid Mogar Super best (100 INR/KG) 6,500-6,800 6,500-6,800 Udid Mogar Medium (100 INR/KG) 5,900-6,300 5,900-6,300 Udid Dal Black (100 INR/KG) 5,400-5,700 5,400-5,700 Batri dal (100 INR/KG) 3,800-4,000 3,800-4,000 Lakhodi dal (100 INR/kg) 2,900-3,000 2,900-3,000 Watana Dal (100 INR/KG) 3,250-3,350 3,250-3,300 Watana White (100 INR/KG) 3,100-3,200 3,100-3,200 Watana Green Best (100 INR/KG) 5,500-6,000 5,500-6,000 Wheat 308 (100 INR/KG) 1,600-1,700 1,600-1,700 Wheat Mill quality(100 INR/KG) 1,700-1,750 1,700-1,750 Wheat Filter (100 INR/KG) 1,700-1,900 1,600-1,800 Wheat Lokwan best (100 INR/KG) 1,850-2,300 1,850-2,300 Wheat Lokwan medium (100 INR/KG) 1,700-1,900 1,700-1,900 Lokwan Hath Binar (100 INR/KG) n.a. n.a.

MP Sharbati Best (100 INR/KG) 3,100-3,600 3,100-3,600 MP Sharbati Medium (100 INR/KG) 2,600-2,900 2,600-2,900

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Wheat 147 (100 INR/KG) 1,400-1,500 1,400-1,500 Wheat Best (100 INR/KG) 1,500-1,600 1,500-1,600 Rice BPT (100 INR/KG) 3,000-3,300 3,000-3,2300 Rice Parmal (100 INR/KG) 2,200-2,500 2,200-2,500 Rice Swarna Best (100 INR/KG) 2,300-2,500 2,300-2,500 Rice Swarna Medium (100 INR/KG) 2,000-2,200 2,000-2,200 Rice HMT (100 INR/KG) 4,100-4,400 4,100-4,400 Rice HMT Shriram (100 INR/KG) 4,700-5,000 4,700-5,000 Rice Basmati best (100 INR/KG) 9,000-13,500 9,000-13,500 Rice Basmati Medium (100 INR/KG) 6,100-7,600 6,100-7,600 Rice Chinnor (100 INR/KG) 5,000-5,400 5,000-5,400 Rice Chinnor Medium (100 INR/KG) 4,800-5,000 4,800-5,000 Jowar Gavarani (100 INR/KG) 1,500-1,650 1,500-1,650 Jowar CH-5 (100 INR/KG) 1,800-1,900 1,800-1,900 WEATHER (NAGPUR) Maximum temp. 30.7 degree Celsius (87.2 degree Fahrenheit), minimum temp.

11.7 degree Celsius (51.2 degree Fahrenheit) Humidity: Highest - n.a., lowest - n.a.

Rainfall : nil FORECAST: Mainly clear sky. Maximum and Minimum temperature likely to be around 31 and 12 degree Celsius respectively.

Note: n.a.--not available (For oils, transport costs are excluded from plant delivery prices, but included in market prices.)

Agri Buzz : Rice Procurement Surges, Punjab And Haryana Top The List Capital Market/ 13:54 , Nov 20, 2013

The government agencies have procured over 156 lakh tonne rice during Kharif Marketing Season, 2013-14. As per data made available to the Ministry of Consumer Affairs, Food and Public Distribution, total 156,99,858 tonne rice has been procured till November 20, 2013 during ongoing season. Highest procurement has been made in Punjab i.e. 119,16,499 tonne followed by Haryana 35,58,022 tonne and Tamilnadu 75,152 tonne. Uttar Pradesh has also made significant procurement i.e. 65,519 tonne.

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TABLE-India Grain Prices-Delhi- Nov 20 Wed Nov 20, 2013 3:34pm IST 0 COMMENTS Rates by Asian News International, New Delhi

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Tel: 011 2619 1464 Indicative Previous Grains opening close (in rupees per 100 kg unless stated) ---------------------------------------------------------Wheat Desi 2,400-2,700 2,300-2,600.

Wheat Dara 1,800-1,900 1,750-1,850.

Atta Chakki (per 10 Kg) 215-240 215-240.

Roller Mill (per bag) 1,800-1,900 1,770-1,870.

Maida (per bag) 1,900-1,950 1,900-1,950.

Sooji (per bag) 1,800-1,900 1,800-1,900.

Rice Basmati(Sri Lal Mahal) 12,000 12,000.

Rice Basmati(Lal Quila) 11,500 11,500.

Rice Basmati(Common) 7,300-7,800 7,300-7,800.

Rice Permal 2,450-2,600 2,400-2,600.

Rice Sela 3,200-3,300 3,200-3,300.

I.R.-8 2,350-2,450 2,350-2,450.

Gram 3,500-4,000 3,400-3,800.

Peas Green 3,400-3,550 3,400-3,550.

Peas White 2,600-2,700 2,600-2,700.

Bajra 3,170-3,370 3,170-3,370.

Jowar white 2,450-2,650 2,450-2,650.

Maize 1,600-1,650 1,600-1,650.

Barley 1,325-1,455 1,325-1,455.

Guwar 3,325-3,900 3,325-3,900.

Source: Delhi grain market traders.

Bond to help fund rice plan B75bn note to lower BAAC borrowing costs Published: 20 Nov 2013 ,Newspaper section: Business

The government will issue a 75-billion-baht bond to finance the rice-pledging scheme as it has failed to pay farmers since the main crop began in October.The programme, which pays farmers 15,000 baht a tonne for the grain, is the ruling Pheu Thai government's core campaign promise, so it is reluctant to scrap the scheme despite strong criticism from academics and international organisations about its massive losses.The government has not been able to pay farmers for two months because the Bank of Agriculture and Agricultural Cooperatives (BAAC) has lacked the mandate to borrow more until January next year.

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The delay may cost the government supporters at the ballot box as farmers threatened to join anti-government protests if the programme is scrapped.The Public Debt Management Office (PDMO) said yesterday the BAAC will issue a three-year bond worth 75 billion baht to continue the scheme."The bond will be sold to the public on Nov 29," said Suwit Rojanawanich, the office's public debt adviser.The note is part of the 140-billion-baht budget the government allocated to the scheme by guaranteeing BAAC's borrowings to finance the 2013/14 crop.Of the 140 billion, 105 billion will be drawn this year and 35 billion next year. For this year, 75 billion will come from the bond and 30 billion will be term loans or overdue loans.Next year the BAAC will consider whether to issue bonds or another term loan.The scheme's massive losses may undermine investor confidence in the BAAC's bonds as it is widely expected that the Commerce Ministry, which is in charge of selling the rice, has not sold enough to repay the BAAC's debt.Mr Suwit said the BAAC's notes for the programme are fully guaranteed by the Finance Ministry.

There are three types of government bonds _ state enterprise notes without a Finance Ministry guarantee, state enterprise bonds guaranteed by the Finance Ministry but the issuer must repay the debt by themselves, and GGLB, which is fully guaranteed by the ministry.Mr Suwit said the note could lower BAAC's financial costs at a time when confidence in it is low. BAAC's previous lots of bonds had to pay 35 basis points higher than the average yield of government bonds.Mr Suwit added the previous 185 billion baht in bonds issued by the BAAC to fund the scheme will also be converted into fully guaranteed bonds by the government.Prakob Phiencharoen, head of debt capital markets at HSBC, said the average yield of BAAC's bonds is 25-35 basis points higher than other notes of similar maturities and types."This is quite expensive compared to three to four years ago when the bank could borrow cheaply. It resulted in a purchase delay as investors waited for higher offers in line with rising interest rates. The PDMO's move will help restore confidence in the BAAC's debt," said Mr Prakob.

In a related development, the government's effort to auction 452,538 tonnes of rice yesterday drew a lukewarm response from potential buyers, with only four exporters participating. The tender was the sixth held by the government, which is under pressure to offload the huge stockpile.Of the 452,538 tonnes put on the block yesterday, 300,275 are Thai Hom Mali and Hom Mali broken rice for export and local sale, and 152,263 tonnes are 5% white rice for expors.From the proposed six auctions for a combined 2 million tonnes, the government has sold only 700,000-800,000 tonnes to date.The government has returned 140 billion baht this year from rice sales to the BAAC and expects to return 24 billion more this year, well below the 200 billion baht it aimed to repay earlier.Surasak Riangkrul, director-general of the Foreign Trade Department, said the government would try its best next year to step up rice sales.The Commerce Ministry is slated sign a contract today to sell 1.2 million tonnes to a state enterprise in Harbin, in northeastern China's Heilongjiang province. Delivery would be made in one to two years, and the value of the deal was not disclosed.

Wheat, rice basmati prices firm up on increased buying

By PTI | 20 Nov, 2013, 02.15PM IST Traders said increased buying by flour mills and stockists amid slowdown in arrivals mainly pushed up wheat and rice basmati prices.

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NEW DELHI: Firm conditions developed at the wholesale grains market today as wheat and rice basmati prices firmed up to Rs 200 per quintal on increased buying by flour mills and stockists amid slowdown in arrivals from producing regions. Bajra and barley also moved up on the back of pick-up in demand from consuming industries.

Traders said increased buying by flour mills and stockists amid slowdown in arrivals mainly pushed up wheat and rice basmati prices.

In the national capital, wheat dara (for mills) rose by Rs 50 to Rs 1,670-1,675 per quintal. Atta chakki delivery followed suit and traded higher by similar margin to Rs 1,675-1,680 per 90 kg. In line with wheat, atta flour mills, maida and sooji also traded higher at Rs 910-920, Rs 965-990 and Rs 1,040-1,060 against last close of Rs 890-910, Rs 950-980 and Rs 1,025-1,040 per 50 kg, respectively. In the rice section, rice basmati common and Pusa-1121 variety moved up by Rs 200 each to Rs 8,700-9,100 and Rs 8,500-8,100 per quintal, respectively. Other bold grains like bajra and barley moved up by Rs 25 and Rs 40 to Rs 1,175-1,205 and Rs 1,340-1,345 per quintal, respectively.

China buys 1.2 million tonnes of Thai rice Published: 20 Nov 2013 at 16.22

China has signed an agreement to purchase 1.2 million tonnes of Thai rice and 90,000 tonnes of tapioca, Commerce Minister Niwatthamrong Bunsongphaisan said on Wednesday.Thailand agrees to sell 1.2 million tonnes of rice to China. The agreement was signed by Foreign Trade Department director-general Surasak Riangkrul and a representative of China's Great Northern Wilderness rice industry group on Wednesday. (Post Today Photo) Mr Niwatthamrong said the agreement was signed by Foreign Trade Department director-general Surasak Riangkrul and a representative of China's Great Northern Wilderness rice industry group. The delivery of the two commodities is scheduled for December.China has expressed interest in buying agricultural products from Thailand to serve increasing demand from Chinese people, including rice, tapioca and rubber, he said, adding that China also wants to co-invest in the agricultural product processing industry with private Thai firms.Commerce Minister Niwatthamrong Boonsongpaisan (Photo by Tawatchai Kemgumnerd)

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The minister said Thailand is poised to become an agricultural industry production base for export to China and other nearby countries and is ready to be China’s connecting gateway to wider trade with other Asean countries. China will be able to access markets in Asean member countries with a combined population of more than 550 million when the Asean Economic community debuts in late 2015, he said.Despite the success of the Thai-Chinese government-to-government rice contract, the Ministry of Commerce is still struggling to shift rice-pledging scheme stockpiles at auction.Only four companies took part in bidding to buy rice under the scheme on Tuesday, Nov 19. The companies are Royal Richy Rice, Capital Serial, Asia Golden Rice and Charoen Pokphan.Mr Surasak said the Commerce Ministry had opened six rounds of bidding to allow companies to purchase rice since the beginning of the year, leading to the sale of 800,000 tonnes of rice out of a total of two million tonnes offered for auction.Despite limited success selling the rice at auction, the ministry has sold a total of eight million tonnes of rice to other countries through government-to-government purchasing deals since midway through this year, he said.The Ministry of Finance has already recouped 140 billion baht from the proceeds and another 24 billion baht will be sent to the ministry by the end of the year, Mr Surasak said.Rice exports from Jan 1 to Nov 5 totalled 5.6 million tonnes, with a total worth of US$3.8 billion, or about 114 billion baht. The volume of exports dropped by 3% while the value of exports fell 5%, the director-general said.

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