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Daily Global, Regional & Local Rice E-Newsletter

March 21,2016
Vol 7 Issue III

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Daily Global, Regional & Local Rice E-Newsletter

Today Rice News Headlines...

Editorial Board
Chief Editor

Rice exports: Let the market innovate


Consignments stuck in Kenyan seaport released
Prasad joining PH hybrid rice plan.
Scientists Developing Climate-Adapted GMO Rice
Unisame lauds approval of STPF and thanks PM
UNISAME STRESSES NEED FOR EXPORT CREDIT
GUARANTEE INSURANCE & SME EXPORT HOUSE IN STPF
Rural poor may get rice at Tk 10 a kg
Food safety could present key to U.S. rice's return to Switzerland
LT Foods share surge over 16% intraday on rice exports business
deal with HUL
HUL sells rice export business to LT Foods
Acquiring HUL's rice business will firm position in mid-east'
Buddhist Monks Cultivate Fabled Rice That They Hope Will Help
in Drought-Prone Areas

News Detail...

Rice exports: Let the market innovate


By Ali Salman

Hamlik

Managing Editor

Abdul Sattar Shah


Rahmat Ullah
Rozeen Shaukat

English Editor

Maryam Editor
Legal Advisor
Advocate Zaheer Minhas

Editorial Associates

Admiral (R) Hamid Khalid


Javed Islam Agha
Ch.Hamid Malhi
Dr.Akhtar Hussain
Dr.Fayyaz Ahmad Siddiqui
Dr.Abdul Rasheed (UAF)
Islam Akhtar Khan

Editorial Advisory Board

Dr.Malik Mohammad
Hashim

March 21, 2016

Assistant Professor, Gomal


University DIK

In 1933, the Kala Shah Kaku based Rice Research Institute (RRI)

Assistant Director, Agriculture KPK

introduced Basmati-370, which became the father of all Basmati varieties


in Indo-Pak subcontinent.That institute, together with a Larkana-based rice

research institute, is largely responsible for creation and distribution of


new rice varieties in Pakistan over the last century. Historically, this has

Dr.Hasina Gul
Dr.Hidayat Ullah

Assistant Professor, University


of Swabi

Dr.Abdul Basir

Assistant Professor, University


of Swabi

significantly contributed towards Pakistans export earnings.However, the

RRI has not produced any new Basmati variety since 1997.

Zahid Mehmood
PSO,NIFA Peshawar

Falak Naz Shah

Head Food Science &


Technology ART, Peshawar

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Success of market-led research presents viable alternative. PHOTO: APP


ISLAMABAD:
According to a member of the Rice Exporters Association of Pakistan (REAP), the lack of new
variety of seeds is the reason for the low yield per acre, which has pushed rice prices higher
and has curtailed the growth of Pakistans exports.
Agriculture convention: Shahbaz announces Rs100b agriculture package

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India, on the contrary, has introduced five new seed varieties in the last 10 years, which has
significantly contributed to the increase in yield.
Pakistans average yield of rice hovers around two to three tonnes per hectare (according to
Pakistan Economic Survey 2015). Meanwhile, most of the rice growing countries produce, on
average, ten tonnes of rice per hectare.
Private research
Can the private sector in Pakistan, with possible backing from government funded agriculture
research base, undertake fresh research on new seed varieties? The prospects are bright.
According to a major private sector player, it was a private sector initiative to introduce hybrid
IRRI seed after public researchers failed to improve the IRRI variety brought in the 1960s.
Lately, the share of IRRI variety has risen significantly to constitute almost two-third of total
rice exports from Pakistan, which is a testimony to the potential that private sector research can
bring.
The decline in global commodity rates did not impact the growers of hybrid IRRI varieties,
because the increase in yield has lowered the cost of production to a large extent.
This particular venture highlights the need for the government to invest in the intellectual
property regime so that innovation in the private sector may be rewarded. We have sufficient
level of know-how available within our universities which can be commercialised provided a
framework to reward innovation exists.

Big picture

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Rice exports have been a subject of debate. Lets look at the long-term picture of rice exports
say over the last 25 years. Pakistan has experienced a fluctuating, yet growing, trend in rice
exports over this time period.
In 1990, Pakistan exported around 1.3 million tonnes fetching approximately $500 million. In
2014, exports added up to 4.6 million tons gaining a little under $2 billion, with the obvious
caveat of these dollars being reported in current value. However, the growth in terms of
quantity is marked and undisputed.
If growth in rice exports is considered, then the argument of lack of new seed variety may not
be tenable in the first place. The rice exports have continued to increase, both in quantity and
value, despite absence of new seed varieties. In fact, if history is a guide, then the growth in the
decade during the absence of new seed variety appears to be far more stellar.
One plausible reason for a decline in the exports of our rice is an increasing share of India in
international basmati market that at one point was way behind Pakistan. Some agriculture
experts claim that low energy costs are important factor for a low cost of production, as power
rates are either zero or very low in Indian Punjab where the basmati is grown.
The rice farmers lobby has asked the government to subsidise rice exports so that the stock
could be disposed of. This is the usual prescription with predictable outcomes. Once the
government provides such incentives, it will result in furthering (mis)allocation of credit and
investment towards rice.
The right diagnosis
Commodities business is always seasonal and rice is no exception. In the first decade of the
century, rising global commodity prices pushed Pakistans exports along with them.

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However, with the global commodity prices going downhill, Pakistans rice farmers began
feeling the heat. However, we cannot reverse this trend by introducing artificial support
measures.
There was a time when the agriculture sector absorbed significant investment at the back of
rising global demand. That time has passed.
Perhaps the government should consider liberalising the rice market, including its research
component, and trust the market to develop better qualities, exports and produce on its own.
The writer is founder and Executive Director of PRIME Institute, an independent economic
policy think tank based in Islamabad.
Published in The Express Tribune, March 21st, 2016.

http://tribune.com.pk/story/1069527/rice-exports-let-the-market-innovate/

Consignments stuck in Kenyan seaport released


March 20, 2016
RECORDER REPORT
All Pakistani rice consignments, which were stuck at the Kenyan seaport in January, have been
released with the efforts of Rice Exporters Association of Pakistan (REAP). Some 1,500
containers were held up at Kenyan seaport since January 18, 2016 as licences of two Kenyan
Port Yards namely Auto Ports Container Freight Station (CFS) and Portside CFS were suddenly
cancelled. Later, Rafique Suleman Chairman FPCCI Rice Export Committee and immediate past
chairman REAP reached Kenya to resolve the matter and ensure timely release of held up rice
consignments. "With the support of Pakistan High Commission Nairobi, the issue has been
finally resolved and entire Pakistani rice consignments stuck at the Kenyan seaport have been
released", Rafique told Business Recorder on Saturday.
He said that officials of Kenya Port Authority (KPA) fully cooperated with Pakistani rice
exporters and not only ensured timely release of over 1,500 rice containers, but also full waived
storage charges amounting to Rs 200 million, imposed on all cargo that arrived from Pakistan
during January 18, to February 15, 2016. Rafique also appreciated the role of Raza Bashir Tarar
High Commission of Pakistan at Nairobi and Amir Mohyuddin Commercial Counsellor for their
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efforts in releasing held-up rice containers. "Now we are making efforts for reduction in duty
imposed by the Kenya on rice import and recently we held a meeting with Professor Julius K
Bitok High Commissioner of Republic of Kenya in Islamabad", he said.
Kenyan High Commissioner has assured to raise the higher duty issue on East African platform,
he added. He said that following the massive decline in the prices of all commodities in the
international market, the rice exports are also likely to reduce in term of quantity in FY16,
therefore it needs to explore new markets to maintain the current exports level.
http://www.brecorder.com/agriculture-a-allied/183/27434/

Prasad joining PH hybrid rice plan


posted March 20, 2016 at 11:15 pm by Othel V. Campos

Hyderabad-based Prasad Seeds is tapping Philippine rice seed technology and joining the
proposed hybrid rice production program of the government.Prasad consultant for export
marketing William Dar said the company would take part in the program, committing at least 10
percent of the hectarage sought for hybrid rice farming for a very competitive price. I
understand that the government will be targeting almost half a million to be devoted to hybrid
rice production. Prasad is just starting seed production in the Philippines, but we are willing
enough to provide support to the program, he said.The company plans to produce at least 1,000
metric tons of seeds to cover as much as 50,000 hectares, or 10 percent of the half-a-million
hectare rice farm that will be devoted to hybrid farming.Prasad plans to use hybrids developed by
the International Rice Research Institute.Dar stressed the seeds would not be imported nor
genetically modified.He added the initial production would be devoted to Philippine
requirements and go for seed exports as soon as the company had an excess capacity.
We wil revisit our business plan. We plan to export in due time once we have the confidence
Dar said.Prasad is in talks with other countries discussing plans on the seed processing side of
the business.It has reached an agreement with Syngenta Philippines for seed production for local
marketing.Sygenta provides Prasad the parent line necessary to produce commercial hybrid seeds
for planting.Prasad has been producing seeds in India in the last 30 years, starting with hybrid
corn.Seed production will start in October 2016 until January 2017 at the Prasad farm in
Pangasinan province.Provincial board member Ranjit Ramos-Shahani promised to create a
provincial ordinance granting Prasad Seeds a five-year exemption from real estate taxes.Earlier,
Prasad Seeds sought pioneer incentives from the Board of Investments for its corn seedprocessing facility.Prasad Seeds is a global company headquartered in Hyderabad, India.
http://thestandard.com.ph/business/202178/prasad-joining-ph-hybrid-rice-plan.html

Scientists Developing Climate-Adapted GMO Rice


March 21, 2016

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BONNER R. COHEN
Bonner R. Cohen is a senior fellow with the National Center for Public Policy Research, a
position... (read full bio)
Genetically engineering a new strain of
hyper-efficient, drought-resistant rice,
known as C4, is part of a multi-national
research effort the Massachusetts
Institute of Technology has called one of
the 10 Breakthrough Technologies of
2015.A team of scientists from eight
countries at the International Rice
Research Institute in Los Banos,
Philippines is genetically modifying
certain strains of rice to reduce the
amount of water required to grow the
rice. Rice is a staple food crop in many countries around the world. Rice crop failures have led to
malnutrition, disease, and death for millions of people over the past 10,000 years.
Rice plants grow through a chemical process known as C3 photosynthesis, which wastes a great
deal of water and reduces plants food-making efficiency. It also makes C3 plants vulnerable to
the extremely warm weather often experienced in many rice-growing regions of the
world.Natural C4 plants have a different cell structure in their leaves, enabling a more efficient
photosynthesis process. Because they lose less water through transpiration, C4 plants are more
likely to produce successful yields during droughts. Rice is a water-intensive crop, so reducing
the amount of water lost through transpiration is important in regions that experience frequent or
periodic irregular drought.By genetically engineering rice strains using the C4 process, scientists
hope to develop a durable and drought-resistant rice plant that could be used in many areas
around the world.
Like Putting a Turbocharger in a Car
In an article published in Newsweek on the C4 rice project, Paul Quick, one of the leading
scientists at the International Rice Research Institute, said, Its like putting a turbocharger in a
car. These plants focus carbon dioxide so that instead of having 400 parts per million, youve got
1,000 or 1,500 parts per million.
C4 plants grow in hotter, drier areas, Julian Hibberd, a professor of molecular physiology at
Cambridge University, told Newsweek. They have a better tolerance for periods of low water
supply.
Vindication of Genetic Engineering
Analysts say if scientists achieve the C4 rice breakthrough they are seeking, it will be further
proof of the success and significant potential of crops that utilize genetically modified organisms
(GMO).
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C4 rice would represent an important breakthrough in sustainable agriculture, said Gregory
Conko, author of numerous articles and books on GMO crops and the biotechnology and
executive director of the Competitive Enterprise Institute. Most of the new varieties being
developedwhether with conventional or GMO methodscombat losses due to pests, plant
diseases, and weeds, which helps farmers get the best yields from their crops.
But an improvement like C4 photosynthesis would significantly raise the yield potential for
every plant, Conko said. That [would, in turn,] mean getting more food from every acre and
reducing the need to bring undeveloped land into farming.
Despite the potential promise of C4 rice, Mischa Popoff, a former U.S. Department of
Agriculture organic food inspector and the author of Is it Organic?, warns of the threat to GMO
crop development posed by lobbyists working for the organic food industry.
Organic-farming groups have attacked GMO crops for decades, claiming GMOs will inevitably
spread beyond the fields they are planted in and interbreed with nearby organic crops, thereby
destroying their organic nature.
Its impossible to destroy the organic integrity of an organic crop through any kind of GMO
intermingling or interbreeding, said Popoff. While organic farmers are not allowed to make
use of GMO seed in their fields, there is no impact whatsoever if an organic crop contacts with
or cross-pollinates with a GMO crop. The government still allows it to be labeled organic.
Unfortunately, the tax-subsidized, anti-GMO global organic industrial complex dominates the
domain of public relations, perpetuating the myth GMOs pose an existential threat to organic
crops, said Popoff. If GMOs did threaten organic crops, we would already have seen a plethora
of legal cases setting precedent to that effect. There have been no such cases. None.
If anti-GMO organic activists are successful, C4 rice will wind up on the back shelf, alongside a
growing stockpile of other drought-resistant GMO crops, such as wheat and barley, scientists
were forced to abandon out of fear of a ginned-up public backlash, Popoff said.
Bonner R. Cohen, Ph.D. (bcohen@nationalcenter.org) is a senior fellow at the National Center
of Public Policy Research
http://news.heartland.org/newspaper-article/2016/03/21/scientists-developing-climate-adaptedgmo-rice

Unisame lauds approval of STPF and thanks PM


The Union of Small and Medium Enterprises (Unisame ) thanked prime minister (PM) Mian
Nawaz Sharif and federal commerce minister Engineer Khurram Dastagir for the final approval
of the much awaited Strategic Trade Policy Framework (STPF) and urged the PM to order its
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fast implentationPresident Unisame Zulfikar Thaver especially thanked the Ministry of
Commerce for giving cognisance to the impediments in exports and making plan for facilitating
exporters.
Thaver urged the PM to consider low premium export credit guarantee insurance and finance for
exports to third world countries and promoting exports to non traditional markets of non
traditional and traditional goods by financing exports under collateral management schemes.He
said banking, insurance , global marketing technology and logistics are the key to export
promotion and unless there is modernization in these spheres there cannot be high impact.The
union expressed thanks for the research and development policy and the 0 rating for exports and
for taking into account the issues of basmati rice exports.The union assured the PM of best
efforts of the SME sector for value addition which is the theme of the STPF

UNISAME STRESSES NEED FOR EXPORT CREDIT


GUARANTEE INSURANCE & SME EXPORT HOUSE IN
STPF
The Union of Small and Medium Enterprises (Unisame ) whilst thanking the prime minister
(PM) Mian Nawaz Sharif and federal commerce minister Engineer Khurram Dastagir for the
approval of the much awaited Strategic Trade Policy Framework (STPF) urged the PM to order
its fast implementation and to include SME marketing support and export credit guarantee
insurance to make effective strategy to enhance exports.
President UNISAME ZulfikarThaver pointed out that without low premium export credit
guarantee insurance and secondly finance for exports to third world countries and thirdly
promoting exports to non traditional markets of non traditional and traditional goods by
financing exports under collateral management schemes, the exports would not get a boost.
He complained that the establishment of the SME Export House has been shelved although the
trade Development Authority of Pakistan (TDAP) had prepared its feasibility and the steering
committee was formed and it was to be set up but abandoned. Even the SME Gallery for the
internet exhibition of SME wares has been delayed for no valid reason.
He also invited the kind attention of the PM to the requirement of balancing, replacement and
modernization of industrial units to meet global challenges and urged the PM to facilitate these
in the STPF for better results.
He said banking, insurance , global marketing technology and logistics are the key to export
promotion and unless there is modernization in these spheres there cannot be high impact.
The union expressed thanks for the research and development policy and the 0 rating for exports
and for taking into account the issues of basmati rice exports.

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The union assured the PM of best efforts of the SME sector for value addition which is the
theme of the STPF.

Rural poor may get rice at Tk 10 a kg


A scheme has been proposed for lean periods

Sohel Parvez
The Directorate General of Food has proposed to sell rice to the rural ultra-poor at Tk 10 each
kilogram to help reduce poverty -- a move that will require the state to spend Tk 835 crore in
subsidy a month.The food office wants to sell 30 kilograms of rice per month to each ultra-poor
household during the lean periods of March-April and September-October, as per the
proposal.Some one crore ultra-poor in rural areas will be benefitted from the scheme.The
government had introduced a similar project in February 2011 to distribute rice at lower than the
market price to the ultra-poor at the grassroots level. Called the fair price card scheme, it is
currently dormant.
The directorate has now sought to revive it with a view to disposing of its huge stockpile of grain
to create space in its warehouses for new arrivals, said Foiz Ahmed, its director general.Besides,
the ultra-poor at the union level do not get any food support from the government like those at
the upazila level get in the form of open market sales.About three lakh tonnes of rice will be
needed each month for the scheme, according to the proposal sent to the food ministry early this
month.
The proposal is now awaiting approval from the government.Ahmed is hopeful that the approval
will come by the end of March and the food office will be able to implement the scheme right away.At
present, the directorate has about 14.35 lakh tonnes of grains, including 10.72 lakh tonnes of rice.It plans
to purchase two lakh tonnes of wheat in April and 10 lakh tonnes of boro rice in May.The government has
already cut the prices of rice and wheat for open market sales, for the second time in four months, to
reduce the large stocks in time for the procurement season.The price of rice was slashed 25 percent to Tk
15 per kilogram and wheat flour 10 percent to Tk 17.So far, the directorate could sell about 1,400 tonnes
of rice out of the allocated 3.25 lakh tonnes for the current fiscal year.The food office expects that two
lakh tonnes of rice could be distributed through OMS during the March-April period of this year.
The remaining one lakh tonnes of rice could be transferred for distribution among the poor at the
grassroots level.Yesterday, the retail prices of coarse rice stood between Tk 32 and Tk 34 each kilogram
in Dhaka, down 8.33 percent from a year earlier, according to the Trading Corporation of
Bangladesh.Meanwhile, rice millers are fearing that the initiative will lead to a decline in rice and paddy
prices and affect farmers at a time when the paddy prices, particularly the coarse variety, are on the
downturn.It is going to affect the prices of rice, especially the coarse rice, said Md Abdur Rashid,
president of the Auto Major and Husking Mills Owners Association, adding that the coarse rice prices
remain lower due to its ample supply.
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The average price of coarse paddy is now Tk 500 each maund, down from more than Tk 600 in
December, when harvesting of aman crop was going on, Rashid added.But Ahmed of the food directorate
said the farmers will not be affected by the scheme.
http://www.thedailystar.net/business/rural-poor-may-get-rice-tk-10-kg-1196623

Food safety could present key to U.S. rice's return to


Switzerland
In his report, Schmidt said, "Switzerland used to be an important market for U.S. long grain rice
with a market share of greater than 50 percent before the Liberty Link incident in 2006, when
imports fell substantially. In 2015, U.S. rice exports shrank to 2,000 MT or only 5 percent of all
rice imports. At this time, U.S. rice sales appear to be limited due to the higher price of U.S. rice
compared to other origins."
http://www.stuttgartdailyleader.com/article/20160318/NEWS/160319711

LT Foods share surge over 16% intraday on rice exports


business deal with HUL
LT Foods share price surged after Hindustan Unilever (HUL) signed an
agreement with the company for sale of its rice exports business for a
consideration of Rs 25 crore as it looks to exit non-core businesses.
By: FE Online | March 18, 2016 4:01 PM

LT Foods share price surged after Hindustan Unilever (HUL) signed an agreement with the
company for sale of its rice exports business for a consideration of Rs 25 crore as it looks to exit
non-core businesses. (Photo: PTI)

LT Foods share price surged over 16 per cent on Friday after Hindustan Unilever (HUL)
signed an agreement with the company for sale of its rice exports business for a
consideration of Rs 25 crore as it looks to exit non-core businesses.At 12.06 pm, LT
Foods share price was trading 7.92 per cent up at Rs 241.10. The scrip opened at Rs
235.10 and has touched a high and low of Rs 259.80 and Rs 235.10, respectively, in trade
so far. Later, the share price settled the day 6.04 per cent up at Rs 236.90
it (HUL) has signed an agreement for the sale of its rice exports business carried out
primarily under the brands Gold Seal Indus Valley and Rozana, to LT Foods Middle
East DMCC, a group company of LT Foods Limited (owner of Daawat), the company
said in a filing to the BSE.
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HUL said the deal envisages transfer of the brands and inventory for a consideration of
Rs 25 crore, subject to adjustments on closing.HULs decision to divest is in line with
its strategy to exit non-core businesses, while continuing to drive its growth agenda in the
core packaged foods business, it added.The transaction is subject to fulfillment of
certain conditions and the parties will work together to complete this over the next few
months. HUL will continue to manage the business until the completion of the
transaction.HUL began exporting premium Basmati rice in 1985 under the brand Gold
Seal Indus Valley to various countries in the Middle East and Europe, which was
subsequently extended to other brands and geographies.

HUL sells rice export business to LT Foods


LT Foods is backed by Rabo Equity.
BY DEBJYOTI ROY

Consumer goods major Hindustan Unilever Ltd (HUL) has decided to sell its rice export
business to LT Foods Ltd, a processor and exporter of packaged rice under the flagship brand
Daawat.The Guragon-based company, in a stock market disclosure, said it has entered into an
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agreement with the FMCG giant to acquire its two top rice brands. The deal includes the
acquisition of brands Gold Seal Indus Valley and Rozana which have been in business for some
decades, LT Foods, owner of Daawat, said in a statement.The deal involves transfer of the
HULs brands and inventory for Rs 25 crore ($3.7 million) to LT Foods.
The company is hopeful that the acquisition will
help it foray into the markets of Qatar, Oman
and Bahrain, besides strengthening its presence
in traditional export bases in the region such as
Saudi Arabia, UAE and Kuwait.The Middle
East accounts for almost 80 per cent of the total
basmati consumption in the world. This region
is a critical market and our limited presence
with only 15 per cent of our revenue coming
from the geography is now getting addressed by
this acquisition, said VK Arora, MD at LT
Foods.HUL began exporting premium Basmati
rice in 1985 under the brand Gold Seal Indus
Valley to various countries in the Middle East
and Europe, which was subsequently extended
to other brands and geographies. Now it is
supplying both the brands to 21 countries across
the globe. According to audited financials for
2014-15, the rice business has contributed Rs 51
crore to the annual turnover of the HUL.Lazard
acted as financial advisor to LT Foods for the
deal.Rabo Equity-backed LT Foods has been
looking to induct a strategic partner to enhance
its expansion plans since 2013.The company,
whose key brands are Daawat, Royal, Devaaya,
Heritage, Rozana and Chefs Secretz,
manufactures and exports under three broad verticals: value-added products, organic food and
international trading. The export business accounts for 46 per cent of the revenue in 2014-15 for
the over five-decade-old company.The firm had registered a less than 2 per cent growth in terms
of revenue for the year ended March 31, 2015. It had clocked revenues of Rs 1,855 crore in
financial year 2014-15.For HUL, this is the second sale of one of its business verticals.
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Last year, it sold its bakery business to private equity firm Everstone Capital. Though the bakery
unit sported good performance both in terms of top-line and bottom-line, the sale was imminent
as the business was stuck in a low growth industry due to challenges posed by other breakfast
options and low entry rate in the segment.It also sold one of its real estate properties in 2015. It
disposed of a property in Bangalore, which was proposed to be developed as a special economic
zone (SEZ), to Brigade Properties Pvt Ltd, a joint venture between Bangalore-based developer
Brigade Group and Singapore's sovereign wealth fund GIC.
http://www.vccircle.com/news/food-agri/2016/03/18/hul-sells-rice-export-business-lt-foods

Acquiring HUL's rice business will firm position in mid-east'


The company, which sell basmati rice under Daawat brand, has entered into an agreement to
acquire the HUL's branded rice business, including 'Gold Seal Indus Valley' and 'Rozana' brands
that registered a turnover of Rs 51 crore in 2014-15. | 1 Comments LT Foods said the
acquisition of Hindustan Uniliver Ltd's (HUL) branded rice business will help the company to
strengthen position in the middle-east market.
The company, which sell basmati rice under Daawat brand, has entered into an agreement to
acquire the HUL's branded rice business, including 'Gold Seal Indus Valley' and 'Rozana' brands
that registered a turnover of Rs 51 crore in 2014-15. "The acquisition will strengthen our position
in the middle-east market as it gives us an entry in the markets of Qatar, Oman and Bahrain and
in addition to strengthening our existing presence in Saudi Arabia, UAE and Kuwait," LT Foods
said in a regulatory filing. Apart from GCC markets, the brands also enjoys latent equity across
India, North America, some of the European Union and Asian countries, it added. LT Foods said
the total cost of the acquisition is about Rs 25 crore and the same would be funded by debt and
internal accruals.
"The middle-east has the largest basmati rice consuming population. It accounts for almost 80
percent of the total basamti consumption in the world. This region being critical market and our
limited presence with only 15 percent of our total revenue coming from the geography is now
getting addressed by this acquisition," LT Foods MD VK Arora said. "This acquisition will help
us penetrate and establish in countries like Oman, Qatar and Bahrain where we have no presence.
It will broaden our basket of offerings of brands with a high recall value," he added. LT Foods
can leverage the distribution networks of these two brands while gain from synergies of the
supply chain management and back-end processing. "These synergies will give us an improved
margin profile. We could target to triple the current annual turnover of these brands in 24-30
months timeframe," Arora said. LT Foods offers branded basmati rice, value-added staples and
organic food under brands -- 'Royal' and 'Daawat'. The company posted a revenue of Rs 2,780
crore in 2014-15 fiscal.
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Daily Global, Regional & Local Rice E-Newsletter


The company has five manufacturing units in India, two packaging facilities in US and in
addition deploys five more third-party facilities to manufacture food products. LT Foods stock
price On March 21, 2016, LT Foods closed at Rs 232.40, down Rs 4.5, or 1.9 percent. The 52week high of the share was Rs 314.40 and the 52-week low was Rs 96.00. The company's
trailing 12-month (TTM) EPS was at Rs 14.40 per share as per the quarter ended December
2015. The stock's price-to-earnings (P/E) ratio was 16.14. The latest book value of the company
is Rs 113.34 per share. At current value, the price-to-book value of the company is 2.05
http://www.moneycontrol.com/news/business/acquiring-huls-rice-business-will-firm-positionmideast_5944601.html?utm_source=ref_article

Buddhist Monks Cultivate Fabled Rice That They Hope Will


Help in Drought-Prone Areas
Global Press Journal by Nirasha PiyawadaniSunday 20th March, 2016

GONAGALDENIYA, SRI LANKA The serene setting of the Waharaka Ariya Chinthashramaya,
a Buddhist temple, seems an unlikely setting for an agricultural revolution, but that is exactly
what the priests here are trying to bring about.Here, the priests are cultivating a rice plant that
produces a grain of rice locally known as Swayanjatha El Haal. According to Buddhist texts, this
variety is the first recorded rice variety.G. Ajith Pushpa Kumara, deputy director of Natural
Resource Management at the Ministry of Agriculture, says that this plant doesnt interest them
because it is not rice but another form of sorghum.
But Yapa disagrees, pointing out that Sri Lanka has a long history of considering many other
types of seeds and grains as rice.Many of the rice varieties today belong to the Oryza species and
were introduced during the Green Revolution, Yapa says.But before the Green Revolution, our
people named many other seeds which could be eaten as rice, he says. One example is the seeds
of one type of water lily plant which are even today known as rice, he points out.The monks at
the Waharaka Temple arent swayed by the debate over the grain. They believe this rice plant is
the Swayanjatha rice and they are determined to prove the value of the rice and make it popular
among farmers, Sukhithadheera Thero says.
And while they quietly go about their work, at least one researcher is preparing for a possible
shift a monumental one in how Sri Lankans and others eat.Rumesh Liyanage, a research assistant
and PhD candidate at the University of Sri Jayewardenepura who was instrumental in bringing
the rice to the attention of his supervising lecturers at the university, says more research is
needed to better understand this plant. He says hes optimistic about what he and others will find.
We have a great hope that this rice can replace wheat, and that is something we want to research
more, he says in a phone interview. If research can show Swayanjatha rice as a replacement for
wheat, that will be a revolution in the food industry.Ajith Perakum Jayasinghe translated this
article from Sinhala.Thero is an honorific commonly used at the end of a Buddhist monks name.
GPJ includes this honorific because it is considered part of a monks formal name.
http://www.bignewsnetwork.com/news/242394407/buddhist-monks-cultivate-fabled-rice-that-they-hope-will-help-indrought-prone-areas

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