3rd July, 2014 Daily Global Rice E-Newsletter by Riceplus Magazine

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TOP Contents - Tailored for YOU
Latest News Headlines

Cops raid Bulacan warehouse with repacked NFA rice
Indian monsoon revives after weakest start in five years
Worst over for Asia rice prices, but Thai stockpile still a threat: Russell
Indonesia's Plan To Import Rice Over El-Nino Threat Hailed
Rice grower drills into sowing techniques
Panel proposes reforms to Japan's compulsory education system
NACC and NCPO investigate possible rice stock corruption
Nagpur Foodgrain Prices - APMC & Open Market-July 3
Truant rains hit kharif planting in AP, Telangana
Food exports down by 1.41%, rice exports up 14.5% in July-May 2014
BAAC targets 10% growth in loans
Nominations Open for 2014 Rice Awards
Pakistan Navy dispatches relief goods for IDPs
More than 155,000 signed Oregon GMO labeling initiative
News Detail
CIDG raids mill repacking NFA rice for profit
A team from the Criminal Investigation and Detection Group (CIDG) raided the warehouse JOMMAO Star
Rice Mill Trading in Marilao, Bulacan, on Thursday (July 3) and caught red-handed workers as they were


repacking rice from the National Food Authority (NFA) into sacks of commercial rice.Chief Inspector Rey
Magdaluyo, chief of the CIDG in Bulacan, said he saw for himself what was happening as his team entered the
warehouse.They seized over a hundred NFA rice sacks, while another police team flagged down two 10-
wheeler trucks along MacArthur Highway.The trucks were on the way to JOMMARO Star, its cargo also to be
repacked.
Authorities confirmed that the rice came from the NFA warehouse in
Pampanga.Police surveillance showed at least 3,000 sacks of NFA rice were
brought to the warehouse every day.Secretary Francis Pangilinan,
presidential adviser for food security, said the NFA authorities in Pampanga
will be asked to explain the anomaly.A sack of NFA rice can be bought from
government warehouses for P1,250, while commercial rice is sold at a
minimum of P2,000 per sack.Easily, this trader would have made P870,000
repacking NFA rice to be sold as commercial grain.JOMMARO Star is
registered under Roberto and Regina Paulenco.They were not around at the
time of the raid but their manager Juancho San Luis was.
He was arrested for refusing to cooperate with authorities, along with 20 other workers.They all face criminal
charges in violation of the National Food Authority Act and the Price Act.The owners may also be charged with
tax evasion since their business capital is only listed at P65,000.Bulacan's proximity to Metro Manila and the
volume of rice produced and traded in the province make it easy to manipulate the supply of the
staple.Authorities believe this is just the tip of the iceberg and they say the crackdown on hoarders and
repackers is far from over. - Solar News Online from a report by Miguel Ortilla
Photo: Chief Inspector Rey Magdaluyo, chief of the CIDG in Bulacan, says he saw for himself what was
happening as his team entered the warehouse. (Image captured from a Solar News video clip)

Cops raid Bulacan warehouse with repacked NFA rice
July 3, 2014 7:54am
Updated 5:47 p.m.) Police operatives on
Thursday raided in Bulacan province a
warehouse containing sacks of National Food
Authority rice "repacked" and sold as the more
expensive commercial rice.The warehouse in
Marilao had the NFA rice sold as commercial
rice, GMA News' Ian Cruz reported.
A separate report by radio dzBB's Glen Juego
quoted Philippine National Police Criminal
Investigation and Detection Group


spokesperson Chief Inspector Elizabeth Jasmin as saying the rice was packed to make it appear like commercial
rice so it can fetch a higher price.However, the dzBB report did not immediately indicate if police arrested
anyone in the warehouse.Last June, the NFA noted a hike in rice prices but said this is temporary, adding prices
are likely to normalize in September, when farmers start harvesting.Still, NFA spokesman Rex Estoperez in an
interview on dzBB radio appealed to the public on Monday not to waste food especially rice at this time.The
NFA gave the public its hotline numbers 4533900 and 9813800 to report profiteering. Joel Locsin /LBG,
GMA News

Image:A PNP-CIDG operative questions mill manager Juancho San Luis who was supposedly caught in the act of
repacking low-cost NFA rice into sacks of the more expensive commercial rice after the Jomarro Rice Mill in Brgy. Abangan,
Marilao, Bulacan was raided on Thursday, July 3. GMA News

Indian monsoon revives after weakest start in five years

Reuters | New Delhi | Published: Jul 03 2014, 20:14 IST
Indian monsoon rains revived in the key planting month after recording the weakest first month of the June-
September monsoon season in five years, weather officials said on Thursday.

Indian monsoon rains revived in the key planting month
after recording the weakest first month of the June-
September monsoon season in five years, weather officials
said on Thursday.A late surge in the monsoon rains has
come as a relief to farmers who can now begin to plant
summer crops such as rice, corn, cane, soybean and
cotton."The monsoon has revived in many parts of central
and north India," said B.P. Yadav, head of the National
Weather Forecasting Centre at the India Meteorological
Department.
India, one of the world's top producers and consumers of rice, corn, cooking oil, sugar and cotton, relies heavily
on the summer rains as nearly half of its farmland is rainfed.July, the second month of the monsoon season,
usually receives the maximum rainfall, accounting for about a third of the seasonal rainfall. Summer sowing
activities pick up during the month as the monsoon rains cover the entire the country."The revival phase is


expected to continue next week," said a weather official, who did not wish to be named as he is not authorised
to speak to the media.
Annual rains arrived five days late than the normal June 1 start over the southern Kerala coast, and then covered
half of India four days later than the usual date of June 15.India's farm sector shares around 14 percent of its
nearly $2 trillion economy, and two-thirds of its 1.2 billion population live in rural areas.Rainfall was 53
percent below average for the week ended on July 2 as against 31 percent deficiency in the previous week as the
monsoon advancement towards the central and north regions had stalled after the second week.However, Yadav
said monsoon progress has resumed in the first two days of July, with the country receiving heavy rainfall in
many parts of north India, including the capital city New Delhi.
On Wednesday, a top official confirmed the revival in soybean areas of central and cane areas of north India,
but warned the country was still likely to have a below-average rainfall in 2014 due to the weak start.

Worst over for Asia rice prices, but Thai stockpile still a threat:
Russell
BY CLYDE RUSSELL
LAUNCESTON, Australia, July 3 Thu Jul 3, 2014 9:44am EDT
(Reuters) - Thai rice prices have bounced off a 6-1/2-year low, but a sustained rally looks unlikely as long as the
huge stockpile built up under the former government's disastrous subsidy scheme remains unsold.Thai 5 percent
broken white rice ended last week at $415 a metric ton (1.1023 tons), up 12 percent from $370 in the week to May
30, which was the lowest since January 2008.The current rally has been supported by concern that checks by
Thailand's new military rulers on the state of government stockpiles will sharply lower exports.
The military government, which overthrew the elected administration of ousted prime minister Yingluck Shinawatra
in May, is seeking to establish exactly how much rice is in warehouses and what condition the grain is in.The
checking of about 1,800 warehouses may take about 75 days, an official of the military government said on July 2.
Local media reports suggest as much as 3 million tonnes may have gone missing from stockpiles, which are
estimated at around 14 million tonnes.To put that in perspective, the most ever exported by Thailand in a year was
10.6 million tonnes in 2011, the year that Yingluck introduced her intervention scheme after a convincing election
victory.Yingluck's signature policy was a rice pledging scheme that paid farmers about twice the market rate for
paddy rice.Her government had, naively, expected that they would simply be able to pass higher prices on to


customers, given Thailand's then status as the top exporter of the grain that is the staple for about two-thirds of the
world's population.
Instead, rice buyers turned to Vietnam and India, leaving Yingluck's government with an ever-increasing rice
stockpile and massive bills to pay farmers.While not the sole reason for her ouster, the rice scheme proved
unsustainable and put stress on the Thai budget, and Yingluck's lack of transparency over the program opened her
government up to allegations of mismanagement and corruption.It's likely that Thai exports will be restricted while
the new rulers assess the stockpiles, with the key question being what happens once that process is complete.
Given rice cannot be stored indefinitely, it seems likely that the military will
resume selling, probably in a steady manner rather than in a firesale.This may
ensure that prices don't collapse, but it also means that prices for Thai grades
are unlikely to rally in any sustained fashion, and will probably underperform
those from Vietnam.Vietnamese 5 percent broken rice has more often than
not traded at a discount to the Thai equivalent, but this changed in March this
year when Yingluck's government starting trying to clear some of its
stockpiles.Vietnamese rice ended last week at $425 a metric ton (1.1023
tons), a premium of $10 to the Thai grade.If Thailand does hold off exporting for a few months, this premium may
disappear, but is likely to return should the military authorities resume exports after their checks.
INCREASING THAI EXPORTS?
The Thai Rice Exporters Association said on June 4 that it expects exports to reach 9 million tonnes this year, up
from an earlier estimate of 7.5 million tonnes.This would be a sharp increase from the 6.6 million metric tons in
2013, and enough to allow Thailand to reclaim top exporter status from India and Vietnam.However, the
association's forecast relies on a free market, without government intervention, and was made prior to the military's
decision to stop sales from government warehouses while inventories are being assessed.
Other factors may also influence rice prices, such as the possibility of lower exports from India given a weak start to
the country's annual monsoon rainfall period.The possibility of an El Nino weather event, which brings lower rainfall
to much of Southeast Asia, may also limit rice production in the region.How much rice major consumers such as the
Philippines and Indonesia import will also be a factor.


Indonesia won't import rice this year, industry website Oryza.com reported on Wednesday, citing a government
official. This contradicts the views of industry official and analysts, who told Reuters that the Southeast Asian nation
could double imports this year to 1.5 million tonnes.The Philippines has lowered tariffs on rice imports, which could
boost its demand, with the nation already having bought 1.3 million tonnes from Vietnam this year.Overall, the
balance of risks suggest that Asian rice prices are unlikely to fall in the short- to medium-term, but if the Thai
authorities do clear their stockpile, it's hard to see a sustained rally until that process is complete.
(Clyde Russell is a Reuters columnist. The views expressed are his own. )
(Editing by Himani Sarkar)
Image: A soldier checks sacks of rice at a warehouse in Ayutthaya province, north of Bangkok July 3, 2014.
CREDIT: REUTERS/CHAIWAT SUBPRASOM
Indonesia's Plan To Import Rice Over El-Nino Threat Hailed
KUPANG, July 3 (Bernama) - Agribusiness observer from the University of Nusa Cendana Kupang Leta Rafael
Levis has hailed the government's plan to import 500,000 tonnes of rice in anticipation of the impact of El
Nino.The weather phenomenon is feared to hit the eastern regions of the country in August, Indonesia's
ANTARA news agency reported.
"The decision to import rice is a right one to ward off the impact of a long drought brought about by El Nino.
There might be shortage in domestic supply of rice, soybean, tuber and other food products as a result of a long
drought," Leta said Wednesday.Leta said the rice imports would strengthen stocks in areas which have strong
indications of a long drought.
Most farmers in East Nusa Tenggara notably in Timor, Lembata and Sumba are already suffering the impact of
El Nino since April this year."There was no rain when rice and corn began to bear fruits," he said.Deputy
Agriculture Minister Rusman Heriawan said as El Nino has hit the country every year the government will
continue to take precautionary measure to cope with the impact."What is important is that rice production would
not be less than that in 2013," he said last week.Rusman predicted El Nino would hit the country in October,
November and December.Despite precautionary measures, however, experts have dismissed fears that the El
Nino impact would be serious.Supari, a climatologist from the Meteorology and Geophysics (BMKG) office,
said there was no cause for much concern."The types of El Nino events that would hit Papua, Maluku, West
Nusa Tenggara and East Nusa Tenggara would not cause much damage," he said.Supari added there is little
possibility of forest fires being triggered by El Nino this year as the weather phenomenon would be weak and
there is sufficient rainfall.-- BERNAMA


Rice grower drills into sowing techniques
Posted Thu 3 Jul 2014, 10:27am AEST
Nuffield Scholar Peter Kaylock has been investigating ways to improve direct drilled rice crops on his property
at Moulamein in south-west NSW.
Laurissa Smith
Topics: rice, moulamein-2733

Panel proposes reforms to Japan's compulsory education system
A government panel on Thursday proposed education reforms focusing on giving flexibility to Japan's nine-year
compulsory schooling system.In its report submitted to Prime Minister Shinzo Abe, the panel on education
reform also proposed gradually making preschool education charge-free.The panel also cited as an idea to be
studied lowering the age requirement for compulsory education by one year to cover 5-year-olds.In Japan,


compulsory education is usually divided into six years of elementary school and three years of junior high
school. Schools offering the nine years in an integrated manner are special cases.
The Ministry of Education, Culture, Sports, Science and Technology plans to submit a bill to the Diet next year
to create a new category of nine-year schools so local education boards can decide whether to establish
them.The panel also proposed considering using public funds for so-called free schools, or alternative schools
mostly run in Japan for truant children, and setting up more night junior high schools for people who have not
completed compulsory education.On higher education, the panel proposed creating new institutions to provide
practical vocational education, saying current vocational education at colleges and vocational schools is
insufficient.
==Kyodo
NACC and NCPO investigate possible rice stock corruption
Thursday, 03 July 2014 By NNT

BANGKOK, 2 July 2014 - Mr. Panthep Klanarongran, President of
the National Anti-Corruption Commission (NACC) has disclosed
that NACC officials will investigate areas involving possible fraud
in the rice-pledging scheme, along with total rice stocks as well as
the rice distribution process, to gather information for further
investigations. National Council for Peace and Order (NCPO)
officials and representatives of other related sectors have also been
requested to join the NACC in the probe.Rice mills and storage
warehouses, which have claimed unusual rice stocks, will be the first inspected.

Nagpur Foodgrain Prices - APMC & Open Market-July 3
Thu Jul 3, 2014 2:37pm IST
Nagpur, July 3 (Reuters) - Gram and tuar prices in Nagpur Agriculture Produce and
Marketing Committee (APMC) recovered on renewed demand from local millers amid weak supply from
producing regions. Delay in monsoon arrival in Vidarbha, firm trend in Madhya Pradesh pulses and weak
overseas supply also pushed up prices, according to sources.


* * * *

FOODGRAINS & PULSES
GRAM
* Gram mill quality and desi gram reported higher in open market on increased buying
from millers amid thin arrival from producing belts. Stockists were reportedly
active because of delay in monsoon arrival.

TUAR
* Tuar varieties ruled steady in open market on subdued demand from local traders amid
ample stock in ready position.

* Moong and udid varieties zoomed up in open market increased seasonal demand from
local traders amid tight supply from producing belts. Healthy rise in Madhya Pradesh
Moong prices also boosted sentiment.

* In Akola, Tuar - 3,800-4,100, Tuar dal - 5,700-6,000, Udid at 6,500-6,800,
Udid Mogar (clean) - 7,600-8,100, Moong - 7,200-7,600, Moong Mogar
(clean) 8,600-9,300, Gram - 2,100-2,300, Gram Super best bold - 3,100-3,400
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 2,100-2,690 2,100-2,650
Gram Pink Auction n.a. 2,100-2,600
Tuar Auction 3,400-4,520 3,380-4,475
Moong Auction n.a. 4,400-4,700
Udid Auction n.a. 4,300-4,500
Masoor Auction n.a. 2,600-2,800
Gram Super Best Bold 3,700-3,800 3,700-3,800
Gram Super Best n.a.
Gram Medium Best 3,300-3,500 3,300-3,500
Gram Dal Medium n.a. n.a.
Gram Mill Quality 2,950-3,050 2,900-3,000
Desi gram Raw 2,750-3,000 2,700-3,000
Gram Filter new 3,200-3,400 3,200-3,400
Gram Kabuli 8,000-9,500 8,000-9,500
Gram Pink 7,300-7,500 7,300-7,500
Tuar Fataka Best 6,400-6,700 6,400-6,700


Tuar Fataka Medium 6,200-6,400 6,200-6,400
Tuar Dal Best Phod 5,700-5,950 5,700-5,950
Tuar Dal Medium phod 5,400-5,700 5,400-5,700
Tuar Gavarani 4,400-4,500 4,400-4,500
Tuar Karnataka 4,200-4,300 4,200-4,300
Tuar Black 7,700-8,000 7,700-7,800
Masoor dal best 6,100-6,300 6,100-6,300
Masoor dal medium 5,900-6,100 5,900-6,100
Masoor n.a. n.a.
Moong Mogar bold 8,500-9,300 8,200-9,000
Moong Mogar Medium best 7,900-8,300 7,700-8,000
Moong dal super best 7,700-8,100 7,400-7,800
Moong dal Chilka 7,500-8,500 7,500-8,100
Moong Mill quality n.a. n.a.
Moong Chamki best 7,600-8,900 7,800-9,000
Udid Mogar Super best (100 INR/KG) 7,600-8,000 7,400-7,800
Udid Mogar Medium (100 INR/KG) 6,200-7,000 6,000-6,800
Udid Dal Black (100 INR/KG) 5,500-6,400 5,500-6,400
Batri dal (100 INR/KG) 3,900-4,800 3,900-4,800
Lakhodi dal (100 INR/kg) 2,850-2,950 2,850-2,950
Watana Dal (100 INR/KG) 2,900-3,200 2,900-3,200


Watana White (100 INR/KG) 3,500-3,600 3,500-3,600
Watana Green Best (100 INR/KG) 4,900-5,500 4,900-5,500
Wheat 308 (100 INR/KG) 1,200-1,500 1,200-1,500
Wheat Mill quality(100 INR/KG) 1,550-1,800 1,550-1,800
Wheat Filter (100 INR/KG) 1,200-1,400 1,200-1,400
Wheat Lokwan best (100 INR/KG) 1,900-2,200 1,900-2,200
Wheat Lokwan medium (100 INR/KG) 1,600-1,800 1,600-1,800
Lokwan Hath Binar (100 INR/KG) n.a. n.a.
MP Sharbati Best (100 INR/KG) 2,500-3,200 2,500-3,200
MP Sharbati Medium (100 INR/KG) 2,000-2,400 2,000-2,400
Wheat 147 (100 INR/KG) 1,100-1,300 1,100-1,300
Wheat Best (100 INR/KG) 1,500-1,800 1,500-1,800
Rice BPT (100 INR/KG) 2,900-3,200 2,900-3,200
Rice Parmal (100 INR/KG) 1,600-1,800 1,600-1,800
Rice Swarna old (100 INR/KG) 2,700-2,900 2,600-2,800
Rice HMT (100 INR/KG) 4,000-4,300 4,000-4,300
Rice HMT Shriram (100 INR/KG) 4,600-5,200 4,600-5,200
Rice Basmati best (100 INR/KG) 10,400-13,000 10,400-13,000
Rice Basmati Medium (100 INR/KG) 7,300-10,000 7,300-10,000
Rice Chinnor (100 INR/KG) 5,000-5,400 5,000-5,400
Jowar Gavarani (100 INR/KG) 1,300-1,500 1,300-1,500


Jowar CH-5 (100 INR/KG) 1,600-1,700 1,600-1,700

WEATHER (NAGPUR)
Maximum temp. 40.5 degree Celsius (104.9 degree Fahrenheit), minimum temp.
28.1 degree Celsius (82.6 degree Fahrenheit)
Humidity: Highest - n.a., lowest - n.a.
Rainfall : nil
FORECAST: Partly cloudy sky. Maximum and Minimum temperature likely to be around 41 and 27 degree
Celsius respectively.
Note: n.a.--not available
(For oils, transport costs are excluded from plant delivery prices, but included in market prices.)
Truant rains hit kharif planting in AP, Telangana
KV KURMANATH
HYDERABAD, JULY 3:
Nothing seems to be rolling in favour of farmers in Telangana and Andhra Pradesh this year. As they wait for a
decision on waiver of loans, lakhs of farmers are also looking at the skies praying for rain.Sowing has not begun
in most parts of both these States. Wherever it has, farmers are desperately looking for a few showers to protect
their crops.All the major crops of paddy, maize, groundnut and cotton have been hit. This might hit the overall
productivity and production.As the monsoon has failed to spread evenly as per schedule, the deficit in some
parts of the States ranges from 50 to 90 per cent.
Farmers in Telangana have been able to plant only in 11 per cent of the total area of 40 lakh hectares under
kharif. About 8,000 hectares of area under maize in Mahboobnagar district are withering, a senior official in
the Agriculture Department told Business Line.The coverage of foodgrains is just 75,000 hectares, one-third of
the usual area that should have been covered by now.The situation in the neighbouring Andhra Pradesh, is no
better.Farmers there have covered just seven per cent of the normal area of 42 lakh hectares. By this time,
plantings should have been completed in at least 20 lakh hectares.


Nellore, the only district where the coverage in better, too has reported a 25 per cent drop in plantings.The
monsoon is inactive. Isolated showers were received, resulting in agricultural operations being affected. We
have an overall deficit of 57 per cent in rainfall, an official of AP Agriculture Department said. Plantings of
foodgrains have been completed in only 50 per cent of area of 1.51 lakh hectares as paddy, the predominant
kharif crop in the coastal areas, has been sown only in 42,000 hectares (80,000 hectares).
According to India Meteorological Department, monsoon is 54 per cent deficient in coastal Andhra Pradesh and
82 per cent in Telangana. Surprisingly, it is 8 per cent excess in the Rayalaseema region.On the other hand, the
Central Water Commission data shows poor storage level in Nagarjuna Sagar and Srisailam reservoirs. While
storage level is zero in Srisailam, in Nagarjuna Sagar the water level is only four per cent of the capacity.On the
other hand, the levels in Sriramsagar, Somasila and Lower Maniar are higher than last year.Last year, the rabi
crop in Andhra Pradesh and Telangana was affected as these regions were battered by at least three cyclones.
(This article was published on July 3, 2014)
Food exports down by 1.41%, rice exports up 14.5% in July-May
2014
APP
July 03, 2014

ISLAMABAD: Although the rice exports form
the country increased by 14.5 percent, the
overall food exports from the country
witnessed negative growth of 1.41 percent
during July to May fiscal year 2013-14
compared to the corresponding period of last
year.The over all food exports from the
country during July-May 2013-14 were
recorded at $4.295 billion compared to the
exports of $4.357 billion in July-May 2012-13,
according to the data of Pakistan Bureau of
Statistics (PBS).The food products contributed
in negative growth in trade included vegetables, exports of which dropped by 14.03 percent from $234.320 last year
to $201.455 in 2013-14 while the exports of leguminous vegetables (pulses) decreased from $4.463 million to
$2.820 million, showing fall of 36.81 percent.


Exports of tobacco decreased by 13.50 percent by declining from $22.909 percent to $19.817 percent while the
exports of wheat decreased by 86.79 by going down from $53.436 million to $7.058 million.Spices and sugar
exports from the country also witnessed decrease of 16.16 percent and 46.12 percent respectively as the exports of
spices declined from $61.202 million to $51.312 million while the sugar exports decreased from $474.768 million to
$255.800 million.Meanwhile the food products witnessed positive growth in trade including rice, exports of which
increased from $1.758 million to $2.013 million, showing an increase of 14.50 percent. Among the rice varieties, the
exports of basmati increased by 12.29 percent whereas the exports of other rice commodities expanded by 15.64
percent.

The exports of fish and fish preparations increased by 15.25 percent by going up from $291.301 to $335.732 million
whereas the exports of fruits increased by 16.84 percent from $357.748 million to $417.997 million.The oil seeds,
nuts and kernals exports from the country increased by 136.72 percent from $33.535 million to $79.383 million
whereas the exports of meat and meat preparations increased by 10.24 percent from $194.032 million to $213.893
million.
The exports of all other food commodities witnessed negative growth of 19.98 percent by falling from $871.070 last
year to $697.054 million in 2013-14.Countrys overall trade deficit narrowed by 5.66 percent during first 11 months
of current fiscal year as exports expanded by 3.71 percent while imports witnessing negative growth of 0.57 percent
as compared to the same period of last year.

On year-on-year basis, the trade deficit witnessed sharp decrease by 27.60 percent in May 2014 when compared to
the deficit of the same month of last year.According to break up figures, the exports from the country during July-
May 2013-14 were recorded at $23.112 billion against the exports of $22.286 billion recorded during July-May
2012-13.On the other hand, the imports into the country during the period under review were recorded at $40.777
billion against the imports of $41.011 billion during the corresponding period of last year.Meanwhile, on year-on-
year basis the seafood exports from the country increased by 18.24 percent by going up from $35.520 million last
year to $42 million in 2013-14.On month-on-month basis, the exports of seafood increased by 7.64 percent in May
2014 compared to the exports of $39.018 million during the April 2014, the data revealed.

BAAC targets 10% growth in loans
Savings certificates of B30bn enter market
Published: 3/07/2014 at 06:04 AM
Newspaper section: Business


The state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC) expects its net outstanding loans
will grow by 100 billion baht or 10% for the 2014 fiscal year ending next March 31.Executive vice-president
Suraphong Nillaphan said 10% growth in credit was quite steady compared with recent years.The BAAC's
growth target for outstanding loans is based on an assumption that the country's economy will expand 3-4% this
year.The Bank of Thailand recently slashed its forecast for the country's economic growth this year from 2.7%
to 1.5% but raised the projection for next year to 5.5% from 4.8% on expectations that the economic rebound
will gain pace in the second half after the military's takeover of power ended the months-long political
stalemate.
The BAAC's loans in fiscal 2013 rose by 120 billion baht to 996 billion from 876 billion in the previous
year.Even though demand for new loans from rice farmers has hardly changed in recent years, farmers may
switch to other crops or even cultivate crops earlier, affecting loan demand in certain periods.BAAC pesident
Luck Wajananawat recently said the bank is set to offer at least 137 billion baht in low-rate loans to rice farmers
for planting this year's main crop as part of the juntas measures to help them cope with low paddy prices.About
17 billion baht will be lent to rice farmers who have silos in the upper North and Northeast to encourage them to
delay selling paddy, which should prevent the market price from falling further, while 20 billion will go to
agricultural cooperatives to buy paddy directly from farmers to process and pack milled rice into bags for sale.
Another 100 billion will be for working capital.
The BAAC aims to raise 80 billion in deposits this fiscal year through its savings products.It yesterday officially
launched its Taweesin savings certificates worth 30 billion baht, with certificates worth 3.5 billion already
sold.The three-year certificates with a face value of 500 baht will offer a return of 18 baht per unit, which does
not take into account prizes from monthly draws. First prize for the draw will be as much as 20 million baht and
the combined prize value will be 58 million per draw.The BAAC contributes one baht for every sold certificate
to help its customers whose homes and assets were hit by the recent earthquake in Chiang Rai province. The
bank's contribution will be 60 million baht if all the certificates are sold.
It has provided financial assistance to its quake-hit debtors by extending the repayment period for loans by one
year and offering loans for residential repairs at a rate below the minimum retail rate (MRR) for the first three
years.The BAAC's MRR now stands at 7% per year.The bank's outstanding deposits amounted to 1.1 trillion
baht at the end of its 2013 fiscal year, up from 99 billion in the previous year.

Nominations Open for 2014 Rice Awards


MEMPHIS, TN -- Rice Farming magazine is now accepting nominations for the 2014 Rice Awards. The three
categories are Rice Farmer of the Year, Rice Industry Award, and Rice Lifetime Achievement Award. To
access the nomination form, please click here. It also is helpful to send letters of recommendation for the
nominee from other individuals in the rice industry who are familiar with his/her accomplishments. A panel of
judges from across the Rice Belt will select the recipients of the 2014 Rice Awards. The deadline for submitting
nominations is July 25, 2014 and the award recipients will be honored at the December 2014 USA Rice Outlook
Conference in Little Rock, Arkansas.The Rice Awards are sponsored by Rice Farming, Horizon Ag, and the
USA Rice Federation.

Contact: Michael Klein, (703) 236-1458

Pakistan Navy dispatches relief goods for IDPs
Dated: 2014-07-03
Islamabad: Pakistan Navy has dispatched its first consignments of 41 tonnes dry ration from Karachi &
Islamabad for Internally Displaced People (IDPs) of Khyber Pakhtoon Khuwa, today. The food packages
comprising flour, rice, sugar, lentils, cooking oil, dry milk and tea, are being collected at Special Camps
established by Pakistan Navy at Karachi, Lahore & Islamabad.All the units and platforms of Pakistan Navy are
enthusiastically contributing and depositing their contributions to support their brethren in this hour of
need.Pakistan Navy is fully committed to provide all possible humanitarian assistance to the IDPs in this hour
of need and fully determined to extend all out support to assist the IDPs and expressing empathy and solidarity
with their displaced brethren in North Waziristan.

More than 155,000 signed Oregon GMO labeling initiative
Tracy Loew, Statesman Journal2:59 p.m. PDT July 2, 2014
Backers of a petition initiative to require labeling of GMO foods delivered 155,611 signatures to the Oregon
Secretary of State today nearly twice the number needed to qualify for the November ballot.The signatures
were collected in just six weeks, in every corner of the state, showing that there is grassroots support that will
help them win in November, organizers said at media event at the Capitol."We mobilized our entire army,"
chief petitioner Scott Bates said. "The next step is for our hundreds of volunteers to turn into thousands."
Similar initiatives were recently defeated in California and Washington, where opponents massively outspent
backers.The campaign expects that spending to happen in Oregon as well, said Sandeep Kaushik, of Oregon


Right to Know.But consumer awareness likely has reached a level where that could be overcome, he said.Ray
Seidler, a former EPA scientist, holds a bag of genetically modified corn seed at a rally on the Capitol
steps Wednesday July 2, 2014. Supporters came to celebrate their signature gathering which qualifies a
ballot measure on the November ballot to require labeling of genetically engineered foods .(Photo: KOBBI
R. BLAIR / Statesman Journal)
And the initiative has been carefully crafted, he
said, to rebuff opponents' previous arguments,
such as that it would apply to pet food (it won't)."We
believe Oregonians have a right to know what's in
the food they eat and feed their families,"
Kaushik said. "That includes foods that have been
engineered in a laboratory."In a written statement,
opponent Oregonians for Food & Shelter called the labeling initiative costly and misleading.
"This is all for a flawed food labeling system that would only exist in Oregon and is so badly written that it
wouldn't even give consumers reliable information about which foods are actually made with GMOs and which
aren't," executive director Scott Dahlman said.If the Secretary of State's office verifies at least 87,213 valid
signatures, the measure will go to voters in November.
tloew@statesmanjournal.com, (503) 399-6779 or follow at Twitter.com/SJWatchdo

Advertising SPECS & RATES

Contact: Advertising Department

Mujahid Ali

mujahid.riceplus@gmail.com

+92 321 369 2874

3rd July, 2014 Daily Global Rice E-Newsletter by Riceplus Magazine

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