27th january,2015 daily global rice enewsletter by riceplus magazine

January 28, 2015

News Headlines…  COA, IRRI ink rice research pact in Philippines  Agriculture Сan Overtake Oil  Rice farmers want protection against importers  Climate-ready rice lab to rise in Laguna  Efficient rice farming to curb emissions  Thailand to dump a ‘mountain’ of rice as market suffers glut  Thailand gives priority to new rice markets hunt  S. Korea seeks to ship rice to China as it moves to lift export restrictions  Philippines plans to bring in up to 500,000 tons rice  Thai Junta Unloading Mountain of Rice Amid World Surplus  USA Rice Inspires Young Minds to 'Think Rice'  CBN: We May Cut Forex Support On Rice Importation, Others  No need to panic, Emefiele tells Nigerians, investors  Report: U.S. drops bid to end Japanese import rules  CME Group/Closing Rough Rice Futures

News Detail….

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TOP Contents - Tailored for YOU COA, IRRI ink rice research pact in Philippines Publication Date：01/27/2015

Taiwan‘s Council of Agriculture signed a memorandum of understanding with Philippinesbased International Rice Research Institute Jan. 26 in Los Banos, paving the way toward greater collaboration on related research.Scheduled to take effect next year, the pact requires both sides to boost bilateral personnel exchanges relating to joint research promotion, as well as collaborate on rice breeding and varietal improvement.

COA Deputy Minister James Sha said Taiwan will contribute its experience with best practice in rice cultivation to the IRRI‘s pool of knowledge. ―This will advance development of production techniques to benefit rice-growing countries in East Asia.‖Operating on the campus of University of the Philippines at Los Banos, IRRI was established in 1960 as part of efforts to achieve the U.N. Millennium Development Goals of reducing poverty and hunger through environmentally sustainable rice farming.

Taiwan has maintained a close partnership with IRRI—home to the world‘s largest rice gene bank—since its inception, with local agricultural experts such as T. T. Chang, Paul C. Ma and Shen Tsung-han playing an instrumental role in launching the nongovernmental organization.In

addition, the International Rice Germplasm Center of IRRI was renamed T. T. Chang Genetic Resources Center in 2006 to honor the Academia Sinica member‘s contribution spanning three decades.IRRI Director-General Robert Zeigler said the memorandum allows the COA and the institute to engage in advanced cooperation and take relations to the next level going forward.

(YHC-JSM) Image: COA Deputy Minister James Sha (front left) and IRRI Director-General Robert Zeigler celebrate the signing of a memorandum of understanding boosting two-way collaboration on agricultural research Jan. 26 in Los Banos, the Philippines. (CNA) Source with thanks:http://www.taiwantoday.tw/ct.asp?xItem=226846 &ctNode=445

Agriculture Сan Overtake Oil Posted by: Deolu January 27, 2015 Dr. Akinwumi Adesina, the minister of agriculture and rural development, states that the agricultural sector would topple the nation‘s oil sector in no distant time, the Leadership informs.Adesina says that this is feasible because the Agricultural Transformation Agenda (ATA) which is a brainchild of President Goodluck Jonathan‘s Transformation Agenda, is geared towards ushering in agricultural sector-led economic

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growth.Speaking on the AGRIFEST 2015, Adesina stated that as the price of crude oil plummets, he is convinced that agriculture will be the new mainstay of the nation‘s economy.Adesina revealed that one of the last achievements of his ministry is disbursement of N122million grant to 27 Nagropreneurs across the six geo-political zones as a measure of boosting agricultural production and also promoting its newly established project, the Youth Employment in Agriculture Programme (YEAP).

President Goodluck Jonathan commended the minister at the event, saying agriculture is now the lifeline for Nigeria.Jonathan said: ―As crude oil prices decline, we must create new wealth from the richness of our soils, the vastness of our rivers and the abundance of our cheap labour. We will produce more, and we will industrialise the agricultural sector.When I appointed Dr Akinwumi Adesina as the minister of agriculture, I charged him to turn agriculture around. My vision was clear – turn agriculture away from being a sector for managing poverty to one for creating wealth. We now see agriculture as a business, not as a development programme. Noting that the rice revolution is taking place across the country, the president said while high quality Nigerian rice is now competing favourably with imported rice in the markets, rice importers cannot hold the country hostage.‖He added: ―Nigeria, our dear country will not be held hostage by rice importers.

Noting that Nigeria‘s greater future for inclusive growth lies in agriculture, he said food production had risen massively and as a nation, Nigeria has produced additional 21 metric tons of food within the last three years.Adesina also listed other milestones of the ministry under him to include the establishment of Marketing Corporation, nationwide census of farmers and supply of subsidised fertilisers to 14million farmers.He further explained that the elaborate event is aimed at creating a distinct platform that will further boost the country‘s agriculture, and added that it will also keep Nigerians abreast of the latest evolution in technologies and food production.

There will be no sacred cows under my watch. All those owing Nigeria on rice import duties must pay.Rice farmers across the country have a new lease of life, due to the transformation taking place in the sector. Over 6 million rice farmers have received improved rice seed varieties, boosting domestic rice production by an additional 7 million

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metric tons.Our rice millers have taken advantage of these new opportunities, and the number of integrated rice mills has expanded from 1 (one) at the beginning of this administration, to 24 today.

And they are all here today. I celebrate you all. I eat Nigerian rice and can tell you it is better than imported rice‖.

Source with thanks:http://www.informationng.com/2015/01/agriculture%D1%81an-overtake-oil.html

Rice farmers want protection against importers

BY OUR REPORTER ON 2015BUSINESS

JANUARY

27,

From DAVID ONWUCHEKWA, Nnewi

The Managing Director/CEO of Stine Rice Industries, Amichi, Anambra State, Chief Akai Egwuonwu, has called on the Federal Government not to relent in its effort to checkmate excessive importation of rice to make local rice farmers thrive.Egwuonwu, who expressed his worry at his factory site in Amichi yesterday, said some local rice producers were becoming stifled because of the sharp competition generated by rice importers, a

situation that had caused excess supply over demand and subsequent increase in the cost of production for the farmers.

He lamented that rice farmers in the country were not selling at the right prices and pleaded that the recent rice allocation to millers by the Federal Ministry of Agriculture and Rural Development should be adjusted. He complained that his rice mill, adjudged to be one of the biggest in the country, was allocated only 30,000 metric tonnes as against its annual production capacity of 140,000 to 150,000 metric tonnes.He, however, explained that the committee members that made the allocation confessed that they did not have the actual capacity details of the mill.The rice miller said he was hopeful that the adjustment would be made in subsequent allocation to consider real production capacity of every mill.

He commended the Minister of Agriculture and Rural Development, Dr. Akinwunmi Adesina, who he said had taken measures to checkmate the activities of rice importers to help local farmers have a good share of the market.―He is like a father to us,‖ Egwuonwu admitted, saying the only way to encourage self-sufficiency in food production was to give all the needed assistance to local farmers.He regretted that banks were not really helping farmers as they should. ―Generally speaking, banks have not been best partners to those in this sector. Their facilities are stringent because of the short time require to pay back loans. The banks are stampeding the agricultural sector,‖ he noted.

Source with thanks:http://sunnewsonline.com/new/?p=102064

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Climate-ready rice lab to rise in Laguna Poised to become one of the most modern research facilities in the world, it will help scientists prepare rice for climate change

Pia Ranada Published 6:02 PM, Jan 27, 2015 Updated 6:02 PM, Jan 27, 2015

NEW FACILITY. The Lloyd T Evans Plant Growth Facility will feature the latest technology to help scientists make rice ready for the worst of climate change. Pia Ranada/Rappler

Facility, it is set to become a "state-of-the-art" building with 8 controlled-environment glasshouses, plant growth chambers, and plant processing and potting laboratories.

But the facility's most dominant feature will be a large seed processing and storage facility.The construction of the $10-million facility, named after a world-renowned Australian plant physiologist, was funded by the Australian government. It is expected to be operational by the end of 2015, said IRRI Deputy Director General for Research Matthew Morell.

LAGUNA, Philippines – Scientists and government officials led the groundbreaking ceremony for a new research facility that will be devoted

Although there are similar controlled-environment laboratories in Australia and Europe, this new IRRI facility "will be one of the most modern," said Morell.What sets it apart are the latest in sensor

to studying the impacts of climate change on agriculture.The ceremony took place on Tuesday, January 27, inside the International Rice Research Institute (IRRI) compound where the building will rise.Named the Lloyd T. Evans Plant Growth

technology, computing power for collecting data and more precise controls for changing environmental parameters. It is also one of the few facilities to be fine-tuned for rice research.Equipped with such technology, the facility will allow scientists to study how rice is affected by changes in the environment. "It's important for us to predict future climates and prepare plants or rice crops so they can flourish in those environments," said Morell.

Predicting nature

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The controlled-environment glasshouses and plant growth chambers will enable researchers to manipulate temperature, relative humidity, light intensity, photoperiod systems, water management systems, and precise control of atmospheric gases.This would give them a more accurate picture of how rice plants would be affected by wideranging environments, even the extreme environments that may become the norm in a world

bring about a world with a lot of carbon dioxide in the atmosphere and where salty ocean water may reach crop fields thus affecting their productivity.Some general trends already being felt are increases in temperature, longer dry seasons, colder night time temperatures and more exposure to destructive typhoons – all of which have grave consequences on food crops.

with a rapidly changing climate.

More collaboration

BREAKING NEW GROUND. Scientists and government officials lead the ground-breaking ceremony of a new rice research facility that will be operational by end of 2015. Pia Ranada/Rappler

Scientists all over the world have conceded that climate change is a major threat to food security all over the world.Australian funding for the facility is partly due to effects already being felt, said Morell."Being one of the driest continents on the Earth, it has first-hand experience of climate change. It has a rice industry that has been affected

Rice is a particularly important crop to safeguard against the destructive effect of global warming.

The crop is a staple food for 3.5 billion people – around half of the world's population.

In Asia, rice contributes up to 70% of the calorie intake of the impoverished who number around 600 million, according to IRRI.During the groundbreaking ceremony, Senator Cynthia Villar, chairperson of the Senate committee on agriculture, said that the research center will directly benefit Filipino farmers."This is very good for us because we are the number one at risk due to climate

by recent droughts. This will be a facility that Australia should benefit from just as much as other rice-producing countries."Morell hopes that such a laboratory can encourage more scientific work on rice.Hundreds of scientists are expected to make use of the equipment. Such a high-tech laboratory may also serve as a "magnet" to attract more collaborators from different research institutes all over the world. – Rappler.com

change. They will produce plants that will be adaptable to every climate.

Source with thanks:http://www.rappler.com/sciencenature/82103-lloyd-evans-facility-irri-climate-change

"Global warming is seen to cause more intense droughts and more destructive typhoons. It may

Efficient rice farming to curb emissions

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New water- and cost-efficient farming techniques will allow Vietnam to reduce greenhouse gas emissions in wet rice production by 15 to 20 percent by 2020, said Mai Van Trinh, Director of the Ministry of Agriculture and Rural Development's Institute for Agricultural Environment.

Trinh was speaking at a recent conference on the first phase of the Project on Reduced CH4 Emissions in Wet Rice Cultivation in Vietnam , jointly held by his institute and the Manila-based International Rice Research Institute in Hanoi .To achieve the target, the ministry will use the System of Rice Intensification (SRI), a plan in which farmers will increase productivity, quality and economic effectiveness, while reducing pesticides and nitrogenous fertilisers, he said.In addition to these measures, the ministry will also encourage farmers to use green production methods. The sector will also apply Good Agricultural Practices (GAP) in cultivation, which means using techniques that consume less fertilisers and water, employing better land preparation techniques and reducing methane emissions.Another technology mentioned at the conference was Alternative Wetting Drying (AWD).

"Actually, to reduce greenhouse gas emissions in rice growing, the institute has tried AWD while implementing a project on reducing CH4 emissions in wet rice cultivation," Trinh said, adding that AWD is no longer strange to rice growers in Vietnam, as it has already been incorporated in several other programmes, including SRI.Vu Duong Quynh, the project coordinator, said a major challenge with SRI is water management. Most problems are caused by the unfavourable terrain in many areas, fragmented rice fields and a lack of cooperation between irrigation staff and farmers.

This is especially troublesome considering the fact that efficient irrigation is the best way to reduce greenhouse gas emissions.

To overcome these difficulties, Quynh said that in its first phase, from October 2014 to June 2016, the project intends to collect lessons learnt from efficient irrigation models and to gather data on land and infrastructure in each province, to make a water-efficient irrigation map."When looking at this map, one can read out which province can apply AWD, as not all types of land are suitable for this technology," Quynh said. In the second phase, the project will incorporate other technologies.

VNA Tags:rice farming to curb emissions,

source with thanks:http://english.vietnamnet.vn/fms/environment/12 2110/efficient-rice-farming-to-curb-emissions.html

Thailand to dump a ‗mountain‘ of rice as market suffers glut PUBLISHED: JANUARY 27, 2015 06:10 PM

With record low prices for rice and a massive stockpile to be disposed on the market, rice futures are expected to remain depressed, January 27, 2015.

— File pic BANGKOK, Jan 27 — In a government building outside Bangkok, along the murky Chao Phraya River, Thailand‘s ruling junta is preparing to unload a mountain of rice on an already oversupplied world. And there‘s more on the way.The biggest exporter stockpiled 17.8 million metric tons after former Prime Minister

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Yingluck Shinawatra spent US$27 billion (RM97 billion) since 2011 buying at above-market prices to aid farmers. The move threatened the nation‘s credit rating and helped fan months of protests.

She was ousted in May by military leaders, who now plan to auction the grain over two years, with 1 million tons set for sale at the Department of Foreign Trade on January 29.With global output poised to be near last year‘s record, Thailand will

what the world‘s importers bought in 2014. Exports from the country will surge 9.7 per cent to a record 11.3 million tons this year, USDA data show.

ship more this year than any country ever, US Department of Agriculture data show. The staple for half the world plunged to a four-year low in Chicago, helping cut food costs that the United Nations says are the lowest since 2010. ―We have plenty of rice,‖ said Mamadou Ciss, who‘s traded the grain since 1984 and is president of Alliance Commodities (Suisse) SA in Geneva. ―Thailand still has huge stocks available, compared

country has been divided between supporters of the Shinawatra family, mostly farmers in the north and northeast, and opponents who are mostly urban and middle-class.Yingluck was impeached on January 23 for failing to heed warnings about the spiraling cost of rice subsidies, which the FAO said were unsustainable. She also faces criminal prosecution.

Yingluck denies the corruption charges and defends the subsidies, saying they raised wages for the millions of farmers who voted for her party in the

with world trade. Anything more than 10 million tons will take time to clear. Prices will stay weak.‖Global reserves are 30 per cent above a 10year average, UN Food & Agriculture Organisation data show. Production for 2014-2015 in the US, the fifth-largest exporter, is seen rising by the most in a decade, expanding global grain inventories already at all-time highs following record global harvests of wheat, corn and soy.

Buying spree The Thai buying spree from November 2011 to February 2014 filled more than 1,000 warehouses and left inventories equal to about 42 per cent of

Protest groups that opposed Yingluck‘s government say the rice-buying program was part of a pattern of corruption by politicians allied with her brother, Thaksin Shinawatra, who was deposed as prime minister in a 2006 coup. Since Thaksin‘s ouster, the

2011 elections and boosted economic growth.

Every election Junta leader Prayuth Chan-Ocha is seeking to clear the warehouses without torpedoing the market, saying on January 26 the government wants to accelerate sales to reduce inventory costs while ensuring prices are acceptable. Since government buying began, Thai 5 per cent broken rice, an Asia benchmark, tumbled 35 per cent from a three-year high of US$647 a ton in 2011 to US$420 on January 21. On the Chicago Board of Trade, futures reached US$10.81 per 100 pounds on January 26,

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the lowest since 2010, and traded at US$11.045 today.

The government may get unexpected help from a dry spell that‘s reducing output. In the central basin north of Bangkok, irrigation officials shut the taps after reservoir levels fell to a 15-year low. Farmers are growing the smaller of two annual harvests that normally accounts for a quarter of production. The lack of water may cut output 31 percent to 6.7 million tons, the lowest in a decade, government data show.

‘Welcome development’ ―The reduction in production this season would be a welcome development for the Thai government, whose priority is now to get rid of the surpluses,‖ said Concepcion Calpe, a senior economist at the Rome-based FAO.Kwanchai Mahachuenjai, a 54year-old farmer in Ayutthaya, said he cut planting almost in half to 120 rai (47.4 acres) because he‘s getting less water. Yields will drop to 300 to 400 kilograms per rai from 700 to 800 kilograms, he said.

A decline in the quality of the stockpiles also may limit the impact of sales on prices, which reflect food-grade grain. An audit in 2014 found about 80 per cent was substandard and almost 4 per cent was poor quality, destined for non-food uses.

Most is still food-grade quality and can be sold as long as it‘s kept dry and fumigated, said Somkiat

Makcayathorn, secretary-general of the Thai Rice Exporters Association.While the government doesn‘t want to buy rice, it plans other support.

About 40 billion baht (RM4.3 billion) has been earmarked for payments to the poorest farmers, and officials are encouraging the growing of other crops, including sugar.For now, the government is focused on unloading 10 million tons this year and 7.8 million tons in 2016. T his week‘s auction will be the biggest amount since 2004, said Duangporn Rodphaya, director-general at Department of Foreign Trade.―It‘s good timing to sell because of low supply ahead of second-crop harvests,‖ Somkiat said. ―Prices will stay under pressure until the government clears the huge inventories.‖ — Bloomberg source with thanks:http://www.themalaymailonline.com/money/article/t hailand-to-dump-a-mountain-of-rice-as-market-suffersglut#sthash.rS90qcXu.dpuf

Thailand gives priority to new rice markets hunt P e t c h a n e t P r a t r u a n g k r a i , The Nation Publication Date : 27-01-2015

The Thai Rice Exporters Association will join forces with the Commerce Ministry for a business mission to potential new rice-import markets such as Iran, Iraq, and other Middle East countries. The move will be a bid to increase rice sales this year in the face of fears that falling oil prices will affect the purchasing power of major

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importers of Thai rice.TREA president Charoen Laothamatas said the association was scheduled to join many trade missions with the Ministry of Commerce because Thailand needed to aggressively promote its rice plans and activities to "knock on the doors" of potential new importers.

"Due to the lowering oil price, some major import countries such as Nigeria and other countries in Africa, where their incomes have relied mainly on the oil price, could be affected and cause a lower order for rice," he said."The ministry and the association thus have plans to promote more rice sales to other potential markets such as Iran, Iraq, and other countries in the Middle East to encourage them to buy Thai rice."Charoen said that Iran and Iraq used to be major Thai rice importers, but they suspended imports for a few years due to a defaulted contract with a private exporter. Now was a good time to boost the confidence of those countries, he added.

Under the Commerce Ministry plan, Commerce Minister General Chatchai Sarikulya will visit Hong Kong, the United Arab Emirates, Kuwait, Oman, Egypt, Italy, and Indonesia. Charoen said that rice exports this year should be as high as last year - up to 11 million tonnes - due to high demand in the world market and drought problems in some riceproducing countries.He said the price of Thai rice was expected to be steady this year. The price has climbed slightly over the past few months due to the strengthening baht. At the moment, the export price of rice is quoted at US$405-$410 for 5 per cent white rice, while Vietnamese rice is quoted $370 per tonne.

source with thanks:http://www.asianewsnet.net/Thailand-givespriority-to-new-rice-markets-hunt-71028.html

S. Korea seeks to ship rice to China as it moves to lift export restrictions Published : 2015-01-27 09:35,Updated : 2015-01-27 09:35 South Korea is seeking to ship rice to the vast Chinese market as it moves to lift export restrictions on the staple grain, officials said Tuesday.The agriculture ministry said it was seeking revisions to the outdated laws and clauses that restrict the volume and price of rice shipped abroad to open up the export market starting as early as March. The restrictions had been put in place when the country did not produce enough rice to feed its own people, which is no longer the case.Last year, the country's rice harvest hit 4.24 million tons, much higher than the annual consumption of about 4 million tons.

The country exported only 2,000 tons of rice for all of last year. Ministry officials say exporting rice can help balance out supply and demand of the grain and stabilize domestic prices, especially after South Korea agreed to tariffed rice imports starting this year.An official said Seoul has been asking China since 2009 to allow South Korean rice into the country, but Beijing has yet to start studies on disease and insect pest risks required for such trade.Beijing is a net importer of grain products, and with demand for higher quality foodstuffs, it could become a good overseas market, officials say."Rice

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poses less disease and insect risks compared to fruits and vegetables," the ministry official said.

He pointed out that the government asked China to conduct risk assessments twice last year and has used various channels to nudge the country to consider buying rice from South Korea.Local rice producers have also said that they may be able to ship rice to China if all restrictions are lifted. "Because of the high price of locally produced rice, the grain can only be sold in select markets and to Koreans living abroad,"another official said. He pointed out that Japan slaps very high import tariffs on rice, making exports to that country unlikely and leaving China as the only viable market. (Yonhap) source with thanks:http://www.koreaherald.com/view.php?ud=20150 127000223

Philippines plans to bring in up to 500,000 tons rice THE PHILIPPINES plans to import up to 500,000 tons of rice for deliveries starting in March to boost its stockpiles ahead of the lean harvest season, government and trade sources said.The state grains procurement agency, National Food Authority (NFA), wants the shipments to arrive in two batches of 200,000 tons and one for 100,000 tons, to be completed by May, a government official with knowledge of the plan told Reuters.

The official, who is not authorized to speak to the media about the plan, said the NFA might go for a government-to-government deal, similar to its transactions last year with Vietnam and Thailand.Local rice traders, however, are hoping the NFA will give them import permits for the planned purchases, which are tariff-free, a Manila-based trader told Reuters.Fresh demand from the Philippines could give a boost to falling rice prices in top producers and sellers Thailand and Vietnam, the Philippines‘ key suppliers. The Philippines usually buys rice early in the year to prepare for the lean harvest season that begins in July.

Private traders have been allowed to import up to 187,000 tons of rice this year, with tariffs as high as 35%, under the government‘s Minimum Access Volume-Omnibus Rice Importation program.Despite record-high domestic harvests in recent years, including last year‘s output, the Philippines remains one of the world‘s biggest rice buyers. The Philippines bought more than 1.8 million tons from Vietnam and Thailand after typhoon Haiyan destroyed crops in November 2013, prompting the government to release supplies from state stockpiles for relief operations and to arrest the sharp increase in local retail prices.

Last year‘s rice purchases were the biggest in four years. This year‘s imports may hit 1.6 million tons, based on a United States Agriculture department forecast. The government official said, however, that 2015 imports may be less than 1 million tons as local retail prices have eased from the record highs seen at mid-2014. – Reuters

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source with thanks:http://www.bworldonline.com/content.php?sectio n=TopStory&title=phl-plans-to-bring-in-up-to-500000tons-rice&id=101657

the fifth-largest exporter, is seen rising by the most in a decade, expanding global grain inventories already at all-time highs following record global harvests of wheat, corn and soy.

Thai Junta Unloading Mountain of Rice Amid World Surplus

Buying Spree

27.01.2015 In a government building outside Bangkok, along the murky Chao Phraya River, Thailand‘s ruling junta is preparing to unload a mountain of rice on an already oversupplied world. And there‘s more on the way.The biggest exporter stockpiled 17.8 million metric tons after former Prime Minister Yingluck Shinawatra spent $27 billion since 2011 buying at above-market prices to aid farmers. The move threatened the nation‘s credit rating and helped fan months of protests. She was ousted in May by military leaders, who now plan to auction the grain over two years, with 1 million tons set for sale at the Department of Foreign Trade on Jan. 29.With global output poised to be near last year‘s record, Thailand will ship more this year than any country ever, U.S. Department of Agriculture data show.

The staple for half the world plunged to a four-year low in Chicago, helping cut food costs that the United Nations says are the lowest since 2010.―We have plenty of rice,‖ said Mamadou Ciss, who‘s traded the grain since 1984 and is president of Alliance Commodities (Suisse) SA in Geneva. ―Thailand still has huge stocks available, compared with world trade. Anything more than 10 million tons will take time to clear. Prices will stay weak.‖Global reserves are 30 percent above a 10year average, UN Food & Agriculture Organization data show. Production for 2014-2015 in the U.S.,

The Thai buying spree from November 2011 to February 2014 filled more than 1,000 warehouses and left inventories equal to about 42 percent of what the world‘s importers bought in 2014. Exports from the country will surge 9.7 percent to a record 11.3 million tons this year, USDA data show.Protest groups that opposed Yingluck‘s government say the rice-buying program was part of a pattern of corruption by politicians allied with her brother, Thaksin Shinawatra, who was deposed as prime minister in a 2006 coup. Since Thaksin‘s ouster, the country has been divided between supporters of the Shinawatra family, mostly farmers in the north and northeast, and opponents who are mostly urban and middle-class.

Yingluck was impeached on Jan. 23 for failing to heed warnings about the spiraling cost of rice subsidies, which the FAO said were unsustainable.

She also faces criminal prosecution. Yingluck denies the corruption charges and defends the subsidies, saying they raised wages for the millions of farmers who voted for her party in the 2011 elections and boosted economic growth.

Every Election Junta leader Prayuth Chan-Ocha is seeking to clear the warehouses without torpedoing the market, saying on Jan. 26 the government wants to accelerate sales to reduce inventory costs while ensuring prices are acceptable. Since government buying began, Thai 5 percent broken rice, an Asia benchmark, tumbled 35 percent from a three-year

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high of $647 a ton in 2011 to $420 on Jan. 21. On the Chicago Board of Trade, futures reached $10.81 per 100 pounds on Jan. 26, the lowest since 2010, and traded at $11.035 on Tuesday.The government may get unexpected help from a dry spell that‘s reducing output. In the central basin north of Bangkok, irrigation officials shut the taps after reservoir levels fell to a 15-year low. Farmers are growing the smaller of two annual harvests that normally accounts for a quarter of production. The lack of water may cut output 31 percent to 6.7 million tons, the lowest in a decade, government data show. ‗Welcome Development‘ ―The reduction in production this season would be a welcome development for the Thai government, whose priority is now to get rid of the surpluses,‖ said Concepcion Calpe, a senior economist at the Rome-based FAO.Kwanchai Mahachuenjai, a 54year-old farmer in Ayutthaya, said he cut planting almost in half to 120 rai (47.4 acres) because he‘s getting less water. Yields will drop to 300 to 400 kilograms per rai from 700 to 800 kilograms, he said.

A decline in the quality of the stockpiles also may limit the impact of sales on prices, which reflect food-grade grain. An audit in 2014 found about 80 percent was substandard and almost 4 percent was poor quality, destined for non-food uses.Most is still food-grade quality and can be sold as long as it‘s kept dry and fumigated, said Somkiat Makcayathorn, secretary-general of the Thai Rice Exporters Association.While the government doesn‘t want to buy rice, it plans other support.

About 40 billion baht ($1.2 billion) has been earmarked for payments to the poorest farmers, and officials are encouraging the growing of other crops, including sugar.For now, the government is focused on unloading 10 million tons this year and

7.8 million tons in 2016. This week‘s auction will be the biggest amount since 2004, said Duangporn Rodphaya, director-general at Department of Foreign Trade.―It‘s good timing to sell because of low supply ahead of second-crop harvests,‖ Somkiat said. ―Prices will stay under pressure until the government clears the huge inventories.‖ source with thanks:http://www.blackseagrain.net/novosti/thai-juntaunloading-mountain-of-rice-amid-world-surplus

USA Rice Inspires Young Minds to 'Think Rice' ARLINGTON, VA -- This week, teachers at more than 2,800 elementary schools in rice producing counties across the six states will receive the new Think Rice educational lesson plan. Developed with the award-winning curriculum experts at Young Minds Inspired (YMI), this education kit is all about U.S.-grown rice and meets national standards for 3rd - 6th grade students in social studies, science, and nutrition."From the focus groups, we learned that many people assume rice comes from Asia and they're unaware of the connection between rice growing and conservation," said Byron Holmes, an Arkansas rice farmer and USA Rice Federation Nutrition Subcommittee chairman.

"The lesson plans address these areas and also reinforce how U.S. rice can help families meet MyPlate healthy eating guidelines."The Think Rice kit contains three student activities, a classroom poster, and a teacher's guide. Students will learn how rice growing has contributed to American

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history since colonial times, and how today's U.S. rice farmers not only help sustain wetland habitats, but also help reduce carbon emissions by providing a close-to-home source of good nutrition.

There is also a recipe-building activity to demonstrate the versatility of U.S. rice and its role in a balanced diet."The education programs we do across the rice states are great events with encouraging results, and we will continue to invest in them," said Holmes. "This program amplifies our reach to thousands of students who will in turn go home and teach their families about U.S.-grown rice."Teachers are encouraged to use the Think Rice education kit during March National Nutrition Month and complete a survey to measure use, effectiveness, and appeal of the program. The materials will be available indefinitely on YMI's website (http://ymiclassroom.com/lessonplans/usarice/) so teachers from all around the country can download and use the activities.These new rice resources and the U.S. Rice in the Classroompamphlet are available for USA Rice members to use in their own student outreach as well.

Contact: Katie Maher (703) 236-1453 source with thanks:USA Rice Federation

CBN: We May Cut Forex Support On Rice Importation, Others Bukola Idowu — Jan 28, 2015

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has revealed plans by the bank to stop foreign exchange support for the importation of some commodities such as rice, if the pressure on the naira does not recede.Speaking during a meeting with stakeholders in the organized private sector in Lagos yesterday, Emefiele stressed the need for local production of most of the commodities that are presently imported into the country, so as to strengthen the naira and develop the country. ―In the course of time, we are not going to ban the importation of rice but we are not going to provide foreign exchange if you are going to import rice into the country. So if you are interested in rice, I will advise that you go into the production of rice,‖ said Emefiele.―If you want to use your dollar that you have kept somewhere, there is no problem but at some point we will not allocate foreign exchange for you to import rice. The same way, we will graduate it other products.‖Emefiele, while dispelling fears of a further devaluation of the naira and the ability of the CBN to continue to defend the currency, however, gave the assurance that the apex bank will continue to provide foreign exchange for legitimate investors and businesses.

Stating that Nigeria had survived an oil price crash with $10 billion in reserves, he said $34 billion is enough to scale through the present oil price crisis.―The important thing is that anyone who needs foreign exchange for legitimate purposes will get their Forex even when the interbank is unable to meet the demands in the market, the CBN will, from time to time, step in and we will provide the foreign exchange that is needed to meet everybody‘s legitimate demand,‖ the CBN boss said.For his part, business mogul and chairman of the Dangote Group, Alhaji Aliko Dangote, said that his company was planning to be the major seller of foreign exchange after the CBN by 2018. He also

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disclosed that Nigerian would be the biggest exporter of urea and ammonia by 2017.He said, ―Based on our plans we will be the highest foreign exchange seller in the market by the first quarter of 2018, and it‘s not from just refinery alone – because if you do refinery alone you will not make money. ―The profit margin will not be that big unless the refinery is a huge one where you make gains based on volume. Today, we are doing 3.6 million tonnes of polypropylene and polyethylene, and even now with the crash of the price, those prices are not crashing on the same scale with oil; so even as at today‘s prices, our exports are more than $7 billion.

Our worry now is how do we export most of the other products – like aviation fuel, diesel. The only thing that we will not export is PMS,‖ he said.Dangote also stated that the country cannot continue to import consumables and ―things that we don‘t even need.‖He urged Nigerians to get involved in manufacturing not only for local consumption but also for export. source with thanks:http://leadership.ng/news/406806/cbn-cut-forexsupport-rice-importation

No need to panic, Emefiele tells Nigerians, investors AS the Nigerian economy struggles with the effect of falling oil prices, decline in value of the naira and drop in foreign exchange reserves, Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has assured Nigerians, local and foreign investors that ―there is no need to panic. ‖According to him, though decline in crude oil prices continues to put demand pressure on domestic economy due to over dependence on

imports; causing speculative and rent seeking activities as well as increased foreign exchange out flows, the CBN in conjunction with other stakeholders will certainly find a solution.Specifically, Emefiele said it is not unusual that ―external reserves dwindle as crude oil prices decline, which may lead to depreciation, but one major lesson from history is that when foreign reserves in the past declined to $10 billion dollars, the country survived it so, at the current level of $34 billion, the reserves can support Nigerian economy.

Assuring genuine manufacturers of CBN‘s readiness to support them, Emefiele said the bank is considering halting sales of dollars to importers of goods that are being manufactured in the country as it seeks to reduce pressure on the local currency hit by a drop in oil prices.―The only thing that will reduce pressure on our currency is by producing those things we are importing today. In the course of time, we will not ban Rice importation but we can stop selling foreign exchange to importers of Rice‖ Emefiele said at a conference on Tuesday in Lagos. ―We will try as much as possible not to hurt your business, but we need to be able to work together, he stated.‖The naira depreciated by 8 per cent and 13 per cent at the Official and Interbank Markets in 2014 prompting the central bank to ban the use of dollars purchased at its twice-weekly auctions for the importation of items including electronics, telecommunication equipment and generators suspecting that most importers are asking for dollars for illegitimate businesses.

Warning that currency speculators will loose their money, the governor said CBN ―will only meet

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legitimate demand, but we will not be concerned about illegitimate demand for dollars. The CBN will not hesitate to revoke licenses of banks found to be fueling speculative activities in the forex market.‖On calls by some experts for CBN to allow exchange rate be determined by market forces, Emefiele said if the central bank allowed the naira to trade more freely then ―it will lead to a major depreciation‖ as Nigeria is not yet an export-driven economy.The naira has slumped 16 percent against the dollar on the interbank market in the past six months.Emefiele reiterated that the central bank has no plans to further devalue the currency.

His words:―We continue to take all measures to defend the currency at the current exchange rate.

The Bank will continue to monitor developments and respond appropriately as the need arises.―Successful management of the current situation requires effective collaboration among all stakeholders.‖Commenting, President of Dangote Group of companies Alhaji Aliko Dangote assured that his investment in Sugar plants will ensure that CBN will receive no request for foreign exchange for sugar importation, rather, Nigeria will be producing and exporting sugar in the next 4 years. source with thanks:http://www.tribune.com.ng/news/newsheadlines/item/27847-no-need-to-panic-emefieletells-nigerians-investors

Report: U.S. drops bid to end Japanese import rules

David Shepardson, The Detroit News6:10 p.m.

EST January 26, 2015 Washington — The Obama administration declined to comment on a report Monday that U.S. trade negotiators will end their bid to convince Japan to lift tough requirements on car imports after Japan agreed to expand a tariff-free quota for imported U.S. rice.Nikkei Asian Review reported the U.S. Trade Representative Michael Froman‘s office will end efforts to convince Japan to drop standards on car imports in exchange for Japan‘s agreement to import an additional 10,000 tons of U.S. rice.

The report said talks will begin in Washington on Wednesday aimed at working out the details — and a deal means it is more likely a final deal on a 12nation Trans-Pacific Partnership could be reached by spring.Trevor Kinkaid, a spokesman for Froman, said the office had no comment on the report.

Froman is set to testify Tuesday in front of the Senate Finance Committee. It comes as the Obama administration is pushing Congress to quickly approve ―fast track‖ trade legislation that would guarantee any trade deal gets a yes or no vote without amendments from Congress.In April 2013, Japan announced it would more than double the number of motor vehicles eligible for import under its fast-track rules.

Detroit‘s Big Three automakers are now be allowed to export up to 5,000 vehicles annually of each vehicle type under the program, compared with the prior ceiling of 2,000 vehicles per vehicle type.The U.S., Japan, Mexico, Canada and eight other nations have been negotiating the Trans-Pacific Partnership

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that would create a free trade zone comprising 40 percent of the world‘s economy for more than four years. Australia, Brunei, Chile, New Zealand, Malaysia, Peru, Singapore and Vietnam are part of the talks.Automakers have been pushing for at least three years to convince the Obama administration to include provisions in the agreement barring the countries from currency manipulation, but Treasury Secretary Jacob Lew and Froman have repeatedly shown no interest in doing so, arguing such issues are better addressed by global forums like the World Trade Organization.

Automakers worry that foreign governments — like Japan — will be able to weaken their currency to undercut U.S. vehicle production.The administration may be dropping efforts on the auto provision because automakers have taken a hard line in only seeking currency changes.―We can compete against anyone anywhere — but we can‘t compete against the Bank of Japan,‖ said Ziad S. Ojakli, Ford Motor Co.‘s group vice president, government and community relations.Asked if Ford would accept any other provisions in lieu of currency in a 12-nation free trade deal, Ojakli said no. ―We need to have strong enforceable disciplines in any thing that moves — whether it is trade promotion authority or TPP. ... All we‘re looking for is the internationally accepted principles (on currency).‖Ojakli said the agreement must put ―teeth‖ in those rules that are part of other international agreements. ―Let‘s enforce the rules that we‘ve all agreed to worldwide. How crazy is that?‖ Ojakli said.A group of Democratic

lawmakers from Michigan are among those strongly opposed to a deal without currency changes.Rep. Dan Kildee, D-Flint, is a strong opponent of a free trade deal without currency.

He notes that Flint once had 79,000 manufacturing jobs, and now has less than 10,000.―(Automakers) are going to have a difficult time signing off on an agreement that does not include a currency provision,‖ Kildee said in a Detroit News interview. ―They‘re in the same position that a lot of us are in: trying to make a bad deal as good as we can knowing that in the end absent a big turnaround — which would be to begin to negotiate on currency — it‘s not going to be something we can support. ‖Rep. Brenda Lawrence, D-Southfield, said Michigan had been devastated by prior trade agreements that had sent thousands of jobs abroad. ―When you are in an environment like Michigan and watch factories, watch people lose their homes, this is real and this is about jobs.‖ Lawrence said.Rep. Debbie Dingell, D-Dearborn, said a bad deal ―could do real damage to the middle class.‖ Fast-track trade legislation ―does not allow Congress to address countries that manipulate their currency to gain an unfair advantage, which is the mother of all trade barriers,‖ she said. ―This is unfair, and it puts U.S. jobs at risk.‖The proposed trade pact is facing strong opposition from U.S. automakers and the United Auto Workers, which are worried a deal will be reached that doesn‘t do enough to open the Japanese auto sector to American products. Japan has historically imported very few foreign automobiles, but the

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when U.S. tariffs are phased out — 25 percent on light trucks and 2.5 percent on cars. Automakers want the tariffs kept in place for at least 25 years or more. And China could seek to enter the free trade agreement under the same rules down the road.

number has been rising significantly in recent years — especially among European vehicles.The auto sector accounts for more than 70 percent of the U.S. trade deficit with Japan.

American automakers fear if Japan intervenes to weaken its currency, its automakers eventually will be able to dramatically undercut them, especially

source with thanks:http://www.detroitnews.com/story/business/autos /2015/01/26/us-japanese-import-rules/22363591/

CME Group/Closing Rough Rice Futures

CME Group (Preliminary): Closing Rough Rice Futures for January 27

Month

Price

Net Change

March 2015

$10.970

+ $0.085

May 2015

$11.225

+ $0.080

July 2015

$11.465

+ $0.075

September 2015

$11.145

+ $0.075

November 2015

$11.245

+ $0.075

January 2016

$11.335

+ $0.075

March 2016

$11.335

+ $0.075

Source with thanks: USA Rice Federation

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