News Detail
THAVER CALLS ON
POLICY MAKERS TO
BENEFIT FROM FALL IN
OIL PRICES WISELY January 2, 2015
Daily Global Rice E-Newsletter www.ricepluss.com
January 02, 2015 Volume 5, Issue I
Karachi, January 01, 2015 (PPI-OT): The
Union of Small and Medium Enterprises
(UNISAME) has called upon the policy
makers to benefit from the fall in oil prices
wisely and take this as golden opportunity to
curb inflation, reduce cost of production,
promote investment and increase
exports.President UNISAME Zulfikar
Thaver said the prospects are very bright for
2015 and Pakistan will become competitive
in many commodities but it is very
important that the government reduce its
own expenses and declare austerity as a very
first step.
Secondly full throttle action is required to
promote value addition and exports. Thirdly
a strict eye on imports is necessary to
discourage imports of the unnecessary.He
lamented that the government is not taking
steps to promote domestic industry and not
protecting it as a result imports are
increasing and many items which are
manufactured in Pakistan are being imported
in bulk and dumped in the market. The SME
units are discouraged and not planning to
increase production, to modernize and
upgrade their products due to tough
competition from imported items.The
importers are under invoicing their imports
and also importing goods with undeclared
money. There is no check on imports as
imports of all items are allowed whether
they are made in the country or not due to
WTO regulations the imports cannot be
disallowed.
Thaver urged the policy makers to examine
the imports and impose regulatory duty on
imports of items manufactured in Pakistan
otherwise Pakistan is fast becoming a
trading economy. The country is exporting
goods worth US dollars 24 billions and
importing goods worth US dollars 45
billions.Fortunately overseas Pakistanis are
remitting US dollars 15 billions which is
saving the situation otherwise the balance of
payments would be precarious. There is also
foreign debts and internal debts and deficits
which are increasing and increasing the
burden but the government is not serious
although it is a situation which could cause
deep concern to the economist.
UNISAME conducted a survey and found
that the new industries are not being set up
due to energy crisis, poor law and order,
competition from Chinese goods, lack of
marketing support for exports, poor
infrastructure for farm produce and poor
logistics.The other draw backs are lack of
finance, leasing, insurance and taxation
policies. Many entrepreneurs also
complained about corruption, extortion and
environment. Some even mentioned the high
handedness of government officials and
difficulties in lodging FIR and misconduct
of policemen.
One important issue raised was of lack of
information and entrepreneurs complained
that the related trade promotion bodies have
no satisfactory information bureau to answer
queries. One exporter of bananas wanted to
know what is the import duty on bananas in
different countries and nobody was in a
position to give the correct answer and the
exporter was keen to export the fruit to the
different countries as he was a farmer and
growing the fruit.
It is very important that the information
bureau is set up in the trade promotion body
capable of providing information as
information is the key requirement of any
entrepreneur. It is high time the government
gets into gear and takes positive bold steps
to benefit from the favourable aspects of
reduced oil prices and strengthen the
economy before the situation takes a turn. It
is expected that the oil prices will remain
such for about one year and in this period
the government must act diligently to benefit
from the situation.
Source with
thanks:http://www.unisame.org/thaver-calls-on-
policy-makers-to-benefit-from-fall-in-oil-prices-
wisely/
Nigeria’s yearly rice
imports from Vietnam hit
N84 billion
Thursday, 01 January 2015 19:05
Written by Roseline Okere
THE Federal Government’s yearly rice
import bill from Vietnam has hit about $500
million (N84 billion) according to the
Nigerian-Vietnam Chambers of Commerce
and Industry. Besides, Vietnam also spends
about $100 million to import agricultural
products such as raw cashew nuts, cassava
and oil palm from Nigeria. Indeed, Nigeria
spends about N365 million yearly on the
importation of 2.1 million metric tonnes of
milled rice from different countries, such as
India, Thailand and Vietnam. President of
the chamber, Prince Oye Akinsemoyin, who
made this disclosure in an interview with
The Guardian recently, said Nigeria’s
imports cover a wide range of commodities,
including those of Vietnam’s strengths such
as rice.
He listed Vietnam’s major exports to
Nigeria to include rubber, electric and
electronic products, footwear, plastics,
handicraft and fine art articles and
construction materials, while the country
imports from Nigeria raw cashew nuts,
fruits, cotton and minerals. Akinsemoyin
stated: “Basically, Nigeria exports
Agricultural products.
At the moment, Vietnam is the largest
importer of Nigeria’s raw cashew nuts.
Vietnam’s cashew import from Nigeria is
about a $100 million yearly. Nigeria exports
agricultural items like Cassava with which
Vietnam produces starch and the raw
materialsVietnam imports sea foods from
Nigeria, like shrimps, fish; also oil palm,
which is processed to palm oil, which goes
into local production of creams and
cosmetics Vietnam imports food items like
coconut and also beans and fruits from
Nigeria.
Vietnam exports rice to Nigeria; Vietnam
is one of Nigeria’s trading partners in rice
exportation. Vietnam’s rice export to
Nigeria will be about $500 million per
annum. Vietnam exports garments, fabrics
to Nigeria as well as shoes and fashion
accessories. Many of the cosmetics
companies in Vietnam are looking for
distributors in Nigeria. Vietnam exports
furniture, artifacts and art work for interior
décor”. He disclosed that many companies
from Vietnam are willing to invest in
Nigeria.
According to him, “the chamber is now
looking at setting up institutions that will
further foster the relationship between
Nigeria and Vietnam; we are encouraging
investors from Vietnam to make in road to
Nigeria economy, companies like Viettel is
willing to invest $7 billion into the Nigerian
Telecommunication sector. Arrangement is
already going on to avail them the
opportunity to bid for the relevant spectrum
to be able to operate as one of the telecom
operators in the country. “PetroVina is also
interested in investing in the Exploration and
Production (E&P) sub-sector of the
country’s Oil and Gas sector, PetroVina is
interested in the upstream and the midstream
sectors. We are trying to attract investments
that will be able to provide employment for
Nigerians. The kind of investors that will be
able to have multiplier effects on the
Nigerian economy”.
source with
thanks:http://www.ngrguardiannews.com/bus
iness/192379-nigeria-s-yearly-rice-imports-
from-vietnam-hit-n84-billion
Cambodia's rice export up
2 pct last year
(GlobalPost/GlobalPost)
Cambodia's rice export up 2 pct last year
PHNOM PENH, Jan. 1 (Xinhua) --
Cambodia exported 387,061 tons of milled
rice in 2014, a 2 percent increase from
378,856 tons in a year earlier, an official
report said Thursday.Cambodian rice has
been sold to 57 countries and regions around
the world, said the data compiled by the
Secretariat of One Window Service for Rice
Export.Five main buyers are France, Poland,
Malaysia, China, and the Netherlands.Kim
Savuth, Vice President of the Federation of
Cambodian Rice Exporters, said a sluggish
growth in rice export was due to fierce
competitions with other countries' rice,
especially Vietnam and Thailand.Cambodia
is an agrarian country with some 80 percent
of the population being farmers.
In 2010, the Southeast Asian country set a
goal of exporting 1 million tons of milled
rice by 2015. However, Prime Minister Hun
Sen admitted last month that the country
was unlikely to achieve the self-imposed
target due to a lack of milling capacity and
funding.He said the rice export figure in
2014 clearly proved that achieving the 1
million tons target in 2015 is
unlikely.Copyright 2014 Xinhua News
Agency.Xinhua is China's state-run news
agency.All rights reserved. This material
may not be published, broadcast, rewritten,
or redistributed.
source with
thanks:http://www.globalpost.com/dispatch/new
s/xinhua-news-agency/150101/cambodias-rice-
export-2-pct-last-year
Gov't grain stockpile
crushing China's domestic
market
Staff Reporter
2015-01-02
09:50 (GMT+8)
Harvesting at a rice field in Harbin,
Heilongjiang, Sept. 2011. (File
photo/Xinhua)
The grain inventory the Chinese government
stockpiled to bolster prices and protect the
livelihood of farmers is now stilling tall and
idle without a modern food processing
industry to consume it, reports the Chinese-
language China Business News.Mu
Yiankuei, owner of a major food processing
firm, said that despite the good intentions,
the government's practice has given rise to
some grave side effects, including the
disruption of the normal circulation of grains
on the market and hindrance of the healthy
development of the food processing
industry.
Many grain processing enterprises have
been forced to close down because of a lack
of grain supply, one example being rice
factories in northeastern China. Nearly 80%
of them have folded their operations.The
grain purchase has entailed a heavy financial
burden on the government, which has been
spending several hundreds of billions of
yuan in buying up grains a year. These are
on top of the costs for infrastructure, custody
of the stockpiled grains and interest on funds
for the purchases.
The stockpiled grains are typically kept in
warehouses for one to three years before
their release into the market, greatly
affecting their quality. In addition, the
government purchase has jacked up
domestic grain prices, inducing imports or
even the smuggling of low-cost grains from
neighboring nations into China. In the same
vein, it has distorted the domestic market.
In one instance, farmers looking to make an
extra buck off of higher prices in
northeastern China, prices set off by
official grain purchases, began selling their
maize en masse from northern China.
According to rough statistics, over 5
million tons of maize flowed from Hebei to
Liaoning province in 2014.Mu Yiankuei
urged the government to intensify its
support for the development of a modern
grain processing industry, thereby laying a
firm foundation for grain safety and
management.
Source with
thanks:http://www.wantchinatimes.com/news-
subclass-
cnt.aspx?id=20150102000028&cid=1202
Nigeria's Yearly Rice Imports
From Vietnam Hit N84 Billion
By Roseline Okere
THE Federal Government's yearly rice import
bill from Vietnam has hit about $500 million
(N84 billion) according to the Nigerian-Vietnam
Chambers of Commerce and Industry.Besides,
Vietnam also spends about $100 million to
import agricultural products such as raw cashew
nuts, cassava and oil palm from Nigeria.Indeed,
Nigeria spends about N365 million yearly on the
importation of 2.1 million metric tonnes of
milled rice from different countries, such as
India, Thailand and Vietnam.
President of the chamber, Prince Oye
Akinsemoyin, who made this disclosure in an
interview with The Guardian recently, said
Nigeria's imports cover a wide range of
commodities, including those of Vietnam's
strengths such as rice.He listed Vietnam's major
exports to Nigeria to include rubber, electric and
electronic products, footwear, plastics,
handicraft and fine art articles and construction
materials, while the country imports from
Nigeria raw cashew nuts, fruits, cotton and
minerals.
Akinsemoyin stated: "Basically, Nigeria exports
Agricultural products. At the moment, Vietnam
is the largest importer of Nigeria's raw cashew
nuts. Vietnam's cashew import from Nigeria is
about a $100 million yearly. Nigeria exports
agricultural items like Cassava with which
Vietnam produces starch and the raw
materials.Vietnam imports sea foods from
Nigeria, like shrimps, fish; also oil palm, which
is processed to palm oil, which goes into local
production of creams and cosmetics Vietnam
imports food items like coconut and also beans
and fruits from Nigeria.
Vietnam exports rice to Nigeria; Vietnam is one
of Nigeria's trading partners in rice exportation.
Vietnam's rice export to Nigeria will be about
$500 million per annum. Vietnam exports
garments, fabrics to Nigeria as well as shoes and
fashion accessories. Many of the cosmetics
companies in Vietnam are looking for
distributors in Nigeria.Vietnam exports
furniture, artifacts and art work for interior
décor".He disclosed that many companies from
Vietnam are willing to invest in Nigeria.
According to him, "the chamber is now looking
at setting up institutions that will further foster
the relationship between Nigeria and Vietnam;
we are encouraging investors from Vietnam to
make in road to Nigeria economy, companies
like Viettel is willing to invest $7 billion into the
Nigerian Telecommunication sector.
Arrangement is already going on to avail them
the opportunity to bid for the relevant spectrum
to be able to operate as one of the telecom
operators in the country.
"PetroVina is also interested in investing in the
Exploration and Production (E&P) sub-sector of
the country's Oil and Gas sector, PetroVina is
interested in the upstream and the midstream
sectors. We are trying to attract investments that
will be able to provide employment for
Nigerians. The kind of investors that will be able
to have multiplier effects on the Nigerian
economy".
Source with
thanks:http://allafrica.com/stories/20150102146
0.html
Nagpur Foodgrain Prices
Open- Dec 31
Wed Dec 31, 2014 7:03pm IST
Nagpur, Dec 31 (Reuters) - Gram prices
reported higher in Nagpur Agriculture Produce
and
Marketing Committee (APMC) on increased
marriage season demand from local millers amid
thin arrival from producing belts. Freshs rise in
Madhya Pradesh gram prices and enquiries from
South-based millers also pushed up prices,
according to sources.
* * * *
FOODGRAINS & PULSES
GRAM
* Desi gram raw zoomed up again in open
market on good marriage season demand
from local traders amid tight supply from
producing regions.
TUAR
* Tuar gavarani recovered nominally in open
market on renewed demand from local
traders amid weak supply from producing
regions.
* Moong and udid varieties touched to a
record high in open market on increased
seasonal demand from local traders amid
tight supply from producing regions. Weak
production reports also activated stockists.
* In Akola, Tuar - 4,700-4,900, Tuar dal -
7,100-7,400, Udid at 6,700-6,900,
Udid Mogar (clean) - 7,500-7,700, Moong -
7,800-8,000, Moong Mogar
(clean) 9,700-10,100, Gram - 2,500-2,700,
Gram Super best bold - 3,600-3,900
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 Available prices
Previous close
Gram Auction 2,900-3,400
2,870-3,350
Gram Pink Auction n.a. 2,100-
2,600
Tuar Auction n.a. 4,000-
4,200
Moong Auction n.a.
6,200-6,400
Udid Auction n.a. 4,300-
4,500
Masoor Auction n.a. 2,600-
2,800
Gram Super Best Bold 4,150-4,300
4,150-4,300
Gram Super Best n.a.
Gram Medium Best 3,900-4,000
3,900-4,000
Gram Dal Medium n.a. n.a.
Gram Mill Quality 3,000-3,100
3,000-3,100
Desi gram Raw 3,100-3,400
3,100-3,400
Gram Filter new 3,300-3,700
3,300-3,700
Gram Kabuli 8,600-9,900
8,600-9,900
Gram Pink 7,300-7,500 7,300-
7,500
Tuar Fataka Best 7,700-7,800
7,700-7,800
Tuar Fataka Medium 7,450-7,600
7,450-7,600
Tuar Dal Best Phod 7,000-7,200
7,000-7,200
Tuar Dal Medium phod 6,600-6,800
6,600-6,800
Tuar Gavarani 5,550-5,650
5,500-5,600
Tuar Karnataka 5,800-6,000
5,800-6,000
Tuar Black 8,300-8,700
8,300-8,700
Masoor dal best 7,300-7,500
7,300-7,500
Masoor dal medium 7,000-7,200
7,000-7,200
Masoor n.a. n.a.
Moong Mogar bold 10,500-10,800
10,300-10,600
Moong Mogar Medium best 9,800-
10,200 9,700-10,200
Moong dal Chilka 9,500-10,000
9,200-9,800
Moong Mill quality n.a. n.a.
Moong Chamki best 8,300-9,800
8,000 -9,600
Udid Mogar Super best (100 INR/KG)
8,200-8,500 8,000-8,200
Udid Mogar Medium (100 INR/KG) 7,700-
7,900 7,600-7,800
Udid Dal Black (100 INR/KG) 6,000-
6,200 5,800-6,000
Batri dal (100 INR/KG) 4,300-4,500
4,300-4,500
Lakhodi dal (100 INR/kg) 2,800-3,000
2,800-3,000
Watana Dal (100 INR/KG) 2,900-3,200
2,900-3,200
Watana White (100 INR/KG) 2,900-
3,100 2,900-3,100
Watana Green Best (100 INR/KG) 3,850-
4,450 3,850-4,450
Wheat 308 (100 INR/KG) 1,300-1,600
1,300-1,600
Wheat Mill quality(100 INR/KG) 1,800-
1,900 1,800-1,900
Wheat Filter (100 INR/KG) 1,200-1,400
1,200-1,400
Wheat Lokwan best (100 INR/KG) 2,200-
2,500 2,100-2,500
Wheat Lokwan medium (100 INR/KG)
1,950-2,200 1,950-2,200
Lokwan Hath Binar (100 INR/KG) n.a.
n.a.
MP Sharbati Best (100 INR/KG) 2,800-
3,200 2,800-3,200
MP Sharbati Medium (100 INR/KG) 2,300-
2,500 2,300-2,500
Wheat 147 (100 INR/KG) 1,300-1,400
1,300-1,400
Wheat Best (100 INR/KG) 1,550-1,850
1,550-1,850
Rice BPT (100 INR/KG) 3,000-
3,300 3,000-3,300
Rice Parmal (100 INR/KG) 1,700-1,800
1,700-1,800
Rice Swarna new (100 INR/KG) 2,400-
2,600 2,400-2,600
Rice HMT (100 INR/KG) 3,800-
4,200 3,800-4,200
Rice HMT Shriram (100 INR/KG) 4,500-
5,300 4,400-5,300
Rice Basmati best (100 INR/KG) 10,000-
13,000 10,000-13,000
Rice Basmati Medium (100 INR/KG)
7,000-9,600 7,000-9,600
Rice Chinnor (100 INR/KG) 5,200-5,500
5,100-5,500
Jowar Gavarani (100 INR/KG) 1,900-
2,100 1,900-2,100
Jowar CH-5 (100 INR/KG) 2,100-2,300
2,100-2,300
WEATHER (NAGPUR)
Maximum temp. 28.8 degree Celsius (73.8
degree Fahrenheit), minimum temp.
15.2 degree Celsius (59.4 degree Fahrenheit)
Humidity: Highest - n.a., lowest - n.a.
Rainfall : nil
FORECAST: Partly cloudy sky. Rains or
thunder-showers likely towards evening or
night. Maximum
and minimum temperature would be around and
29 and 18 degree Celsius respectively.
Note: n.a.--not available
(For oils, transport costs are excluded from
plant delivery prices, but
included in market prices.)
Source with
thanks:http://in.reuters.com/article/2014/12/31/n
agpur-foodgrain-idINL3N0UF2JO20141231
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