10th June, 2014 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

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TOP Contents - Tailored for YOU
Latest News Headlines
'Who' is a Farmer's Best Friend? Owls!
When You Think Rice, Think Africa
Oryza U.S. Rough Rice Recap - Cash Prices Continue to Fall as Buyers Look to New Crop; USDA Estimates 93%
of Crop Emerged
Oryza Rice Currency Analysis for Today Brazil Real Rallies 0.8%; Mexico Peso Down 0.8%
Senegal Soccer Player, El Hadj Diouf, Targets to National Self-sufficiency in Rice Production
Indias Red Kaipad Rice Joins National Geographical Indications Registry, Boosting Commercial Promise
Update: Iraq Buys 120,000 Tons of Rice from Uruguay, U.S., but Not Vietnam
Iraq Issues Tender to Purchase 30,000 Tons of Rice
Pakistan Basmati Rice Export Prices Remain Unchanged m/m at $1,350 in May 2014 ; Decline 2% y/y
Thailand, Rice Sellers Increase Some of Their Quotes; Vietnam Rice Sellers Lower Some of Their Quotes
What do Thai Rice Farmers Want in Absence of Rice Pledging Scheme?
FAO Estimates Sri Lanka 2014 Paddy Rice Production to Decline to 3.9 Million Tons, Down 16% from Last Year
Pakistan Exporters Divert Rice Destined to Mexico, to Africa
Philippines Unveils Road Map for New Rice Sufficiency Program; Plans to Increase Hybrid Rice Acreage by
200,000 Hectares
Bangladesh Rice Import Value Surges Fifteen Fold in First Ten Months of FY 2013-14
India Government Urged to Reform Paddy Rice Procurement Process
Vietnam Exports 2.34 Million Tons of Rice in January - May, 2014, Down 16% from Last Year

News Detail
'Who' is a Farmer's Best Friend? Owls!

Jun 09, 2014
Rodents like the black rat and the rice field rat cause huge problems for farmers. They damage their crops in the
field, eat stored grains and spread disease to humans. This isnt just a problem for rice farmers. Rodents damage
pretty much everything from plantation crops like palm oil, coconut, sugarcane and cocoa to fruits, vegetables,
tubers and grains. They are such a destructive pest because of their ever-growing sharp teeth and ability to breed
very quickly and overwhelm entire communities.


Scientists are developing ways to control rodents using environmentally-friendly practices, but the use of
natural predators may be an overlooked area. Rats which hitched a ride on European ships exploring new
continents caused havoc because there were no natural predators. In fact, it was the presence of rats on ships
why sailors took cats along with them. Having a cat is a good strategy for controlling rats; however, cats mostly
stay around domestic areas.Out in the paddy fields of South Asia, for instance, natural predators of rodents
include snakes, mongoose and owls. The problem with most of these predators is that they dont eat rodents
often enough to control the pest. For instance, snakes in captivity eat around one rat every three days. Owls, on
the other hand, eat between one and six rats per night.

Malaysian scientists have been the most active, testing the use of barn owls in reducing rodent crop damage. On
palm oil plantations, introducing barn owls reduced rodent damage from 20% to 2%. For rice, Malaysian
researchers found that one barn owl reduced rodent damage from 12% to less than 1% and covered an area of
10 hectares of rice fields, which is the equivalent of five Malaysian paddy farms. With results like that, it should
be obvious who a farmers best friend is.

Adam John
Tags: Owls, Rodent damage, Pest control, Adam John

When You Think Rice, Think Africa

Jun 09, 2014

Where will rice be in the staple diet in the future?
Rice consumption in the wealthiest Asian countries
or so called Asian Tigers has been following a
decreasing trend over the last several decades see
the table. In the early 1960s, the Japanese ate more
rice than the South Koreans but the Japanese now
eat almost half the amount of rice they ate back
then. As the South Korean economy began to
accelerate in the 1970s, South Koreans rice
consumption began following a similar trend to
Japan.

Economists will point to the fact that rice is an
inferior good which basically means the richer you
get, the less rice you fancy eating which you replace
with other foods like meat, fish, fruits and


vegetables. On the other hand, rice consumption trends in Africa have been the opposite. Looking at the graph
below, we can see that rice consumption in Africa has been steadily growing since the 1960s. Although it is true
that many African countries were in fact richer several decades ago than they are now, it is actually the middle-
classes in coastal Africa cities demanding rice and not poorer smallholders in the countryside. So in Africa, rice
consumption trends are quite different to Asia and as African cities grow so too will the demand for rice. It is
probably still too early to say, but it may not come as a surprise if in the future rice becomes more associated
with African than Asian diets.
Adam John

Tags: Rice consumption, Asia, Africa, rice market trends, food trends, Adam John

Oryza U.S. Rough Rice Recap - Cash Prices Continue to Fall as Buyers Look to New
Crop; USDA Estimates 93% of Crop Emerged

Jun 09, 2014
As of today, old crop offers decreased to around $15.55 per cwt fob farm (about $343 per ton) for June
shipment while others are still hoping to net around $16.11-$16.33 per cwt fob farm (about $355-$360 per
ton). However, analysts suggest that that looks increasingly unlikely as we get closer to late July when the first
new crop supplies will be available.Bids from exporters were still seen around $15.50 per cwt (about $342 per
ton) for June delivery while smaller mills were said to be bidding around $16.00 per cwt (about $353 per ton)
for the same delivery period; however, no trades were reported.In the meantime, the USDA estimates that as of
June 8th, 93% of the U.S. rice crop had emerged which was the same amount as this time last year and 1% less
than the previous 5-year average.

As of now, the USDA estimates that 98% of the rice crop in Arkansas has emerged compared to 75% in
California, 99% in Louisiana, 91% in Mississippi, 97% in Missouri, and 100% in Texas. The USDA also
considers 69% of the U.S. to be in good-to-excellent condition, which was up unchanged from last week,
compared to 63% in Arkansas, 75% in California, 80% in Louisiana, 80% in Mississippi, 57% in Missouri, and
53% in Texas.
Meanwhile, the Iraqi Grain Board issued another tender for at least 30,000 tons of long grain white rice of
either U.S., Uruguayan, Argentine, or Brazilian origin as well as fragrant rice from Vietnam. Offers need to be
submitted no later than June 23rd and must remain valid through June 27th.

Tags: U.S. rice prices; U.S. rice market
Oryza Rice Currency Analysis for Today Brazil Real Rallies 0.8%; Mexico Peso
Down 0.8%


Jun 09, 2014
U.S. dollar index was up +0.30% from the open today, when it traded at 80.653 at the close.

Euro was weaker -0.39% by the close, trading around 1.3589 by end of day, after trading between an intraday
high of 1.3669 and low of 1.3583.

Thai baht was stronger +0.18%, trading at 32.423 at the close of business.

Indian rupee was weaker -0.01% at 59.1888.

Brazilian real was stronger +0.80% at the close of trading today, trading at 2.2295 reais per dollar.

Pakistan rupee was -0.06% weaker at 98.5850.

Vietnamese dong was weaker -0.06% at 21215.

Mexican peso was weaker -0.81% today, when it traded at 13.0344 pesos per dollar by the close of business.

Chinese yuan was stronger +0.17% at 6.2401.

Argentine peso was stronger +0.01% at 8.12899 pesos per dollar.
Tags: foreign exchange rates, rice currencies, Global rice trade

Senegal Soccer Player, El Hadj Diouf, Targets to National Self-sufficiency in Rice
Production

Jun 09, 2014
The Senegalese soccer player El Hadji Ousseynou Diouf aims to help Senegal to reach self-sufficiency in rice
production. After having expressed his commitment to this goal that he qualified as the most important game of
his career, in February at the Paris International Agricultural Fair, the player decided to implement the
project. To do so, he reunited around himself several notable Senegalese people including the singer Akon and
the actress Lissa. Last month, the group visited the Anambes Valley where both Akon and El Hadji Diouf
acquired 150 acres of land in order to grow rice.


According to Akon its just a beginning. The singer stated that he will use his connections to attract investors in
the sector.For El Hadji Diouf, this commitment is a patriotic duty. During a press conference, the player warned
about the danger for the country to not produce its own rice. Of the ten countries which usually sold us rice,
there remain only three. Imagine what would happen if those who provide us with rice stop delivering us from
one day to the next. We believe it's time for us to take matters into our own hands.

The project has received the full support of Senegals officials who declared that it matches with their goal
through the Program of Building and Pace Accelerating of Senegalese Agriculture (in French, PACRAS).The
country has announced in Last February that it will invest 74 billion francs CFA (about $153 million) in the
2014-15 rice crop year in order to produce 900,000 tons, basis paddy.The USDA currently estimates Senegals
paddy production for 2014-15 at about 515,000 tons.

Tags: senegal rice production, Senegal rice imports, El Hadji Ousseynou Diouf, Akon, Lissa
Malaysias Mardi to Grow Aerobic Rice in 1,000 hectares by 2014-End

Jun 09, 2014
The Malaysian Agricultural Research and Development Institute (Mardi) plans to begin cultivating aerobic rice
in 1,000 hectares across Malaysia by the end of 2014 as this special variety called MRIA1 needs 50 percent less
water for cultivation.Director of Aerobic Rice Cultivation, Dr Sariam Othman, said that around five tonnes of
aerobic rice per hectare can be harvested in 90 days, thrice a year. The MRIA 1 variety, launched by Mardi in
2013, can also revive neglected land.The institute had planted the aerobic rice - now ready for harvesting- on
three hectares in Mardi Klang.

Aerobic rice can be cultivated using a simple watering system or a regular sprinkler.If aerobic rice is planted in
a dried-up paddy field, irrigation can be conducted once in every five or six days and if it is planted outside a
paddy field, sprinklers could be used to water the crop every fourth or fifth day.The MRIA 1 paddy seeds
germinate within three to four days after seeding and a yield of 3.5 tons per hectare can be expected, according
to the MRDI Director. He says that aerobic rice reaches maturity within 90 days and can be grown in sugarcane
fields, rubber estates and palm oil estates if such farms are equipped with water sprinklers.
Tags: Malaysia, Mardi

Indias Red Kaipad Rice Joins National Geographical Indications Registry,
Boosting Commercial Promise

Jun 09, 2014


Kaipad rice, a red, non-sticky rice variety grown using an organic farming method in the south Indian state of
Kerala, is now registered in the Geographical Indications Registry (GIR) of the Government of India. The GI
tag improves the market prospects of the rice variety and earns commercial benefits for farmers by enhancing
its authenticity. The tag is given to a product to identify that it is has originated or manufactured in a particular
area where a given quality and reputation of the product is attributable to its geographical origin. The rice is
predominantly grown in the Kaipad method of farming which is practiced in the saline, coastal rice farms in
Kozhikode and Kasargod districts of the state.

The Kaipad farming system is similar to the Pokkali farming method in which a single crop of rice is grown
and is alternated with aquaculture in salt water wetland. This farming method is carried out in an organic way
using monsoon and sea tides. When cooked, the length of Kaipad rice ranges from 3.2-3.5 mm. When compared
to Njavara, another popular Kerala rice variety, Kaipad is rich in iron and calcium. However, its fat content is
less than the popular rice variety Jyothy.
Tags: Kerala, India, Asia

Update: Iraq Buys 120,000 Tons of Rice from Uruguay, U.S., but Not Vietnam

Jun 09, 2014
Iraq bought a total of 120,000 tons of rice from Uruguay (90,000 tons) and the U.S. (30,000 tons), but not
Vietnam, as was previously reported, Oryza has learned from sources in Iraq.
In its previous rice tender reported on April 25, 2014, Iraq's state grains board had rejected all offers despite
Thai rice being offered at the lowest price.

Tags: Iraq rice tender, Iraq rice imports, Uruguay rice exports, U.S. Rice exports

Iraq Issues Tender to Purchase 30,000 Tons of Rice

Jun 09, 2014
Iraq Trade Ministry has issued a tender to purchase about 30,000 tons of rice from Argentina, Brazil, Uruguay,
Vietnam and the U.S, according to Bloomberg.The Ministry has set a deadline of June 23, 2014 for receiving
bids and has specified that the offers would be valid till June 27, 2014.USDA estimates Iraq to import around
1.35 million tons in 2014 and around 1.45 million tons in 2015.


Pakistan Basmati Rice Export Prices Remain Unchanged m/m at $1,350 in May 2014
; Decline 2% y/y


Average Pakistan basmati rice export prices have remained at April 2014 level of Rs.1,350 per ton in May
2014, but declined by about 2% from around $1,375 per ton in May 2014, according to the UN's Food and
Agriculture Organization (FAO).According to the FAO, Pakistani rice prices averaged around $1,361 per ton
during the first five months of 2014, slightly down from around $1,364 per ton during the same period in
2013. In terms of local currency, Pakistan's basmati rice prices declined to PKR 131,328 per ton (using
historical exchange rates) in May 2014, down about 1% from about PKR 132,908 per ton in April 2014, and
down about 3% from about PKR 135,438 per ton in May 2013.

Tags: pakistan rice prices, basmati rice prices

Thailand, Rice Sellers Increase Some of Their Quotes; Vietnam Rice Sellers Lower
Some of Their Quotes
Jun 09, 2014
Thailand rice sellers increased their quotes for 5% broken rice and 25% broken rice by about $5 per ton each to
about $380 - $390 per ton and $350 - $360 per ton respectively today. Vietnam rice sellers lowered their quotes
for 100% broken rice by about $5 per ton to about $330 - $340 per ton. Other Asia rice sellers kept their quotes
mostly unchanged.

5% Broken Rice

Thai 5% rice (of new crop) is quoted at around $380 - $390 per ton, up about $5 per ton from Friday and about
$25 per ton lower than Viet 5% rice quoted at around $405 - $415 per ton. Indian 5% rice is quoted at around
$435 - $445 per ton, about $10 per ton lower than Pak 5% rice quoted at around $445 - $455 per ton.

25% Broken Rice

Thai 25% rice of the old crop is quoted at about $350 - $360 per ton, up about $5 per ton from Friday and about
$15 per ton lower than Viet 25% rice quoted at around $365 - $375 per ton. Indian 25% rice is quoted at around
$390 - $400 per ton, about $5 per ton lower than Pak 25% quoted at around $395 - $405 per ton.

Parboiled Rice

Thai parboiled rice of the old crop is quoted at around $420 - $430 per ton. Indian parboiled rice is quoted at
around $405 - $415 per ton, about $30 per ton lower than Pak parboiled rice quoted at around $435 - $445 per
ton.

100% Broken Rice

Thai broken rice, A1 Super, of the old crop is quoted at around $310 - $320 per ton, about $20 per ton lower


than Viet broken rice quoted at around $330 - $340 per ton, down about $5 per ton from Friday. Indian broken
sortexed rice is quoted at around $310 - $320 per ton, about $15 per ton lower than Pak broken sortexed rice
quoted at around $325 - $335 per ton.
Tags: Thailand rice prices, Vietnam rice pricces
What do Thai Rice Farmers Want in Absence of Rice Pledging Scheme?

Jun 09, 2014
Thai Rice Farmers Associations have proposed to the military government - National Council of Peace and
Order (NCPO) - various other alternatives that could benefit rice farmers in the absence of the rice pledging
scheme, according to local sources.Eight rice farmer associations met with the NCPO Deputy Economic Chief
and the Permanent Secretary of the Commerce Ministry on Sunday, June 8, 2014, to put forth their proposals to
the military government, said local sources.

The farmers associations mainly sought for the continuation of the rice pledging scheme, which was halted from
February 28, 2014, as farmers would benefit from it in the light of falling prices. They said domestic paddy
prices have declined to around 4,000 - 6,000 baht (around $123 - $184) per ton, which do not suffice to cover
farmers' paddy production costs of around 7,000 - 7,700 baht (around $215 - $237) per ton. Farmers were paid
around 15,000 baht (around $461) for a ton of paddy.They put across some of their proposals for, which the
NCPO could consider if it decides to discontinue the rice pledging scheme. They suggested that the NCPO
could set a price in - at which farmers could sell their produce - which could fetch them a profit margin of 40%
after covering their production costs. This price could be around 10,000 - 12,000 baht (around $307 - $369) per
ton.

They said the government needs to focus on reducing production costs, especially provide subsidies on
fertilizers and insecticides, developing irrigation systems to ensure continuous water supply, and helping
farmers to increase rice quality.One of the associations suggested that the government could also help rice
farmers by providing a financial assistance of about 2,500 baht per rai (around 400 baht per hectare or $12.3 per
hectare) to boost rice production. Some other association suggested that the NCPO could reduce the cost of land
rental fees to about 1,000 baht per rai (around 160 baht per hectare or $5 per hectare) during the harvest season
to control the cost of rice production. Land rentals have increased to about 2,000 baht per rai (around 320 baht
per hectare or $10 per hectare) from around 500 baht per rai (around 80 baht per hectare or $2.5 per hectare)
over last year, due to rice pledging scheme.

They said land rentals have not declined despite the rice pledging scheme ending.The Honorary President of the
Thai Rice Exporters Association (TREA) also said the government should provide some relief measures to the
farmers.
Tags: Thailand Rice Growers Association, Thai rice pledging scheme


FAO Estimates Sri Lanka 2014 Paddy Rice Production to Decline to 3.9 Million
Tons, Down 16% from Last Year

Jun 09, 2014

The UN's Food and Agricultural Organization (FAO) has estimated Sri Lanka's paddy rice production to decline
to around 3.9 million tons in 2014, down about 16% from around 4.62 million tons (around 3.14 million tons ,
basis milled) produced in 2013 due to significant reduction in the output from the 2013-14 Maha crop
(September 2013 - April 2014), which contributes to over 60% of the country's annual paddy rice production.In
its country brief on Sri Lanka, the FAO estimates the 2013-14 Maha rice crop output at around 2.4 million tons,
down about 17% from around 2.9 million tons (around 1,97 million tons, basis milled) produced last year. It


contributes the decline to a 15% reduction in paddy planted area due to the prolonged dry weather since the
beginning of the season, especially in the main northern and eastern paddy producing regions.

The FAO expects the output from the 2014 secondary Yala rice crop (April - September 2014) also to be low
due to inadequate water supplies following dry weather earlier in the year.The UN agency estimates Sri Lanka's
rice imports to increase in 2014 due to expected decline in production.Though average domestic prices declined
month-on-month in May, they were still higher year-on-year due to reduced 2014 Maha output and unfavorable
prospects for the 2014 Yala output. Average retail price of white rice declined to around LKR 67,610 (around
$520) per ton in May 2014, down about 3% from around LKR 67,610 (around $540) per ton in April 2014, and
up about 14% from around LKR 59,480 (around $470) per ton in May 2013.USDA estimates Sri Lanka to
produce around 2.8 million tons of rice, basis milled (around 4.1 million tons, basis paddy) and import around
20,000 tons in MY 2014-15 (October 2014 - September 2015.

Tags: Sri Lanka rice production, Sri Lanka rice imports, Food and Agriculture Organization (FAO)

Pakistan Exporters Divert Rice Destined to Mexico, to Africa

Jun 09, 2014
Pakistan rice exporters have started diverting their rice shipments destined to Mexico, to African countries, after
Mexico rejected about 100 Pakistan rice containers for being contaminated with Khapra beetle, according to
local sources.Former Chairman of the Rice Exporters Association of Pakistan (REAP) told local media sources
that while some of the shipments, which are on their way to Mexico, have been called back to Pakistan, most of
them are being diverted to African countries amid increasing demand for Asian-origin rice in most of the
African countries such as Nigeria, Sierra Leone, Ghana and Senegal.Mexico suspended rice imports from
Pakistan in June 2013 after detecting Khapra beetle in some rice shipments.

Since then Pakistan has not shipped any rice to the Central American country. In the first week of May 2014,
Pakistan rice exporters urged the Trade Development Authority of Pakistan (TDAP) to reconcile rice trade with
Mexico since they do not want to lose lucrative Mexican market. Exporters said they take appropriate measures
to prevent Khapra beetles and the former REAP Chairman noted that the allegations by Mexico authorities were
baseless.Although Mexico traditionally imports over 90% of rice from the U.S, share of Asian rice in Mexican
imports has been increasing for the last couple of years due to the price differential between the U.S. and the
Asian rice. Pakistan exported around 16,000 tons of rice to Mexico during January - May 2013 (before the ban),
up about 1500% from about 7,400 tons exported during the same period in 2012.

Pakistan has exported around 2.66 million tons rice, including basmati and non-basmati, in the first ten months
of the current fiscal year (FY) 2013-14 (July 2013 - June 2014), down about 5% from around 2.74 million tons
exported during the same period in FY 2012-13, according to provisional data from Pakistan Bureau of


Statistics (PBS). Pakistan exported about 3.4 million tons of rice in FY 2012-13.USDA estimates Pakistan to
export around 3.9 million tons of rice in 2014 and 2015.

Tags: Pakistan rice exports, Rice Exporters Association of Pakistan (REAP)

Philippines Unveils Road Map for New Rice Sufficiency Program; Plans to Increase
Hybrid Rice Acreage by 200,000 Hectares

Jun 09, 2014
The Philippines government has unveiled the road map for its new rice sufficiency program, under which it
targets to produce around 19.07 million tons of paddy rice in 2014, up about 3.4% from around 18.44 million
tons produced in 2013, according to local sources.The government is planning to increase hybrid rice acreage
from the current 72,563 hectares to around 272,563 hectares, said the local sources. Currently, the governments
Department of Agricultural (DA) produces hybrid rice from 72,563 hectares and is seeking support from private
companies to increase hybrid rice acreage by another 200,000 hectares. The DA will provide technical
assistance to private companies over hybrid rice production.Under the renewed rice sufficiency program, the
DA is planning to encourage more number of farmers to use hybrid seeds. The DA Assistant Secretary for
Operations (ASO) told local media sources that the DA would provide hybrid seeds free of cost to those farmers
who have so far not tried them for the 2014-15 dry season cropping (November 2014 - April 2015), adding that
the DA expects them to buy hybrid seeds for the next cropping season.

He also noted that the DA would continue the renewed plan in the 2015-16 also but would distribute free seeds
to new farmers. The idea is to help farmers realize incremental yields from using hybrid seeds, he said.The DA
will spend a total of P550 million (around $12.6 million) as part of the new plan. While it plans to spend around
P362.815 million (around $8.3 million) on garnering hybrid seeds to distribute to farmers, it plans to spend
around P187.2 million (around $4.3 million) on distributing fertilizers to farmers, according to local sources. It
aims to achieve an incremental yield of around 1.8 tons per hectare in the regions where this plan is being
implemented. The new plan will help raise living standards of rice farmers especially those planting rice in
calamity-stricken regions, said the DA ASO. The Philippines government aims to increase paddy rice
production to around 20.089 million tons in 2015 and 20.519 million tons in 2016. USDA estimates the
Philippines to produce around 12.2 million tons of rice, basis milled, and import around 1.8 million tons of rice
in MY 2014-15 (July 2014 - June 2015) to meet the consumption needs of around 13.2 million tons.

Tags: Philippines Rice Production, Hybrid rice, Rice self-sufficiency program


Vietnam Exports 2.34 Million Tons of Rice in January - May, 2014, Down 16% from Last Year


Vietnam exported about 2.335 million tons of rice during first five months of 2014, down about 16% from
about 2.8 million tons of rice exported during same time last year, according to data from the Vietnam Food
Association (VFA). Average rice export price so far in this year stands at about $434 per ton (FOB), down
about $2 per ton from during same period last year.During May, 2014, Vietnam exported about 585,536 tons of
rice, down about 10% from about 648,359 tons rice exported in May 2013, and up about 9% from about
537,094 tons rice exported in April 2014. Average export in May stands at about $425 per ton, up about 1%
from a year ago, and down about 4% from a month ago.

Vietnam's rice exports in May 2014 include: 281,411 tons of 15% broken rice (about 48% of total rice exports
in May 2014); 109,319 tons of Aromatic rice (about 19% of total rice exports in May 2014); 103,897 tons of 3-
10% broken rice (about 18% of total rice export in May 2014); and 57,968 tons Nep or glutinous rice (about
10% of total rice exports in May 2014).Asia was the major rice exporting destination for Vietnam rice so far in
May 2014, with about 398,200 tons or about 68% of total rice exports. The Africa was the second largest
destination, accounting for of about 87,292 tons of rice exports (equivalent to about 15% of total rice exports in
May 2014). Vietnam also exported 78,223 tons of rice to the Americas, about 14,536 tons of rice to the Europe,
about 5,170 tons of rice to the Middle East, and about 2,115 tons of rice to Australia in May 2014.

Tags: Vietnam rice exports, Vietnam Food Association (VFA)

Bangladesh Rice Import Value Surges Fifteen Fold in First Ten Months of FY 2013-
14

Jun 09, 2014
Bangladesh's rice import value has increased to around $284.72 million in the first ten months of FY 2013-14
(July 2013 - April 2014), up about 15.47 times or about 1,447% from around $18.41 million during the same
period in FY 2012-13, based on the latest letter of credit (LC) data released by the Bangladesh Bank (BB).A BB
official told local media sources that fall in global rice prices, simultaneous surge in domestic rice prices and
appreciation of the local currency against the dollar are the key drivers to increase in imports.

Data from the Food Planning and Monitoring Unit showed that coarse rice price in Bangladesh stood at around
$420 per ton in Dhaka, while it was around $400 per ton in the Indian state of West Bengal.According to data
from the Bangladesh Food Ministry, in the FY 2013-14, the country imported around 374,560 tons of rice as on
June 5, 2014 (of which 371,500 tons are imported by the private sector and 3,060 tons are imported by the
government), up about 13 times from around 28,812 tons imported during the same period in FY 2012-13.
Bangladesh imported 28,930 tons of rice in FY 2012-13 (25,270 tons by private sector and 3,660 tons by the
government).The government of Bangladesh has set a target of importing around 200,000 tons of rice in next
fiscal year (2014-15) to replenish falling stocks in the country, according to the Directorate of Food.


UNs Food and Agriculture Organization (FAO) and USDA estimate Bangladesh to import 400,000 tons
(including government and private sector) in 2014.

India Government Urged to Reform Paddy Rice Procurement Process
India grain trade analyst Mr.Tejinder Narang has urged the new government to reform the paddy rice
procurement process on the lines of China, Indonesia and the Philippines. Reformation of the current process is
necessary to keep official procurement agencies "insulated from the paddy operations, bungling and diversion in
the market, as well as cease double handling," he writes in the Hindu Business Line.Mr.Narang says under the
current system, the Food Corporation of India (FCI) and other government agencies procure paddy from
farmers at minimum support price (MSP) and get this paddy milled from registered millers under Custom
Milling of Rice (CMR) agreement.

This system is leading to increased stocks with the millers, he claims. As of April 1, 2014, 15 million tons of
paddy worth Rs.20,000 crore (around $3.4 billion) was held by millers, according to official sources. He says
many a time, millers resort to paddy/milled rice sales in the open market to avoid annihilation of the stock and
buy back from the market when demanded by the government agencies. Owing to these malpractices, FCI may
end up supplying rice that is not milled for it, but that is bought from the open market. Mr.Narang claims that
these practices lead to unchecked misuse of official funds and unnecessary leakages. Also, since the
government makes payments to both farmers and millers at two different times, it leads to auditing challenges
as well.He therefore suggests that the government agencies could dispense with direct paddy purchases and buy
milled rice from millers.

He says the FCI may come up with a revised CMR, making millers responsible to procure paddy from farmers
at MSP. The FCI and other state procurement agencies would procure predetermined amount of milled rice
from milled as a prescribed price based on the MSP of paddy. He also suggests that millers could get low-
interest loans from banks to make paddy purchases.Mr.Narang says the government needs to intervene from
time to time and ensure that farmers get the prescribed MSP. It could also increase the MSP every two-three
years and incentivize the farmers. He, however suggests that the present procedure of public distribution and
subsidization to targeted beneficiaries could continue.

He says farmers would not be hurt by such reforms in the procurement process because nearly 67% of the
paddy of non-basmati and basmati is still transacted in the open market and farmers are quite familiar with the
market operations. Of the 160 million tons of paddy (including 16 million tons of basmati) produced, the FCI
and other state agencies procure only 49-53 tons of paddy, equivalent t 32-35 million tons of milled rice every
year. The new system could fill many loopholes in the present system, and lead to restructuring of FCI
operations as well, views Mr.Narang.

Tags: India rice procurement, Food Corporation of India (FCI)

10th June, 2014 Daily Exclusive ORYZA Rice E-Newsletter by Riceplus Magazine

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Daily Rice E-Newsletter by Rice Plus Magazine www.ricepluss.

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