TRT Market Reports

Members of Parliament on the committee on Tourism, Trade, and Industries have commenced inquiries into the petition of Kampala Rice Traders’ Association over the unfair Value Added Tax – VAT exempt rice importation.

The Nigeria Customs Service, Ogun Area 1 Command, has intercepted 19 boat engines worth N17.322m and eight trailer loads of foreign rice during its anti-smuggling activities in the state.

Members of Kampala Rice Traders Association have accused the State minister of Trade and Cooperatives, Ms Harriet Ntabazi, and Uganda Revenue Authority (URA) officials of colluding to edge them out of business after rice import permits were revoked.

Farmers say new rice variety has better yields

Founding Director of the West Africa Centre for Crop Improvement (WACCI) at the University of Ghana Prof. Eric Yirenkyi Danquah, says Africa needs to adopt genetically modified organism (GMO) technology to help improve agriculture.

Among those areas are farmlands, and already, over 200 acres of rice have been destroyed, and more lands are under threat as the rainy season persists.

An Egyptian scientist and head of the National Rice Development Project at the Ministry of Agriculture invented a new type of rice that does not need much water, after the Egyptian government announced that the country is suffering from water poverty.

Rice traders have halted importations from Tanzania in protest over the reinstatement of the 18 per cent value added tax (VAT) levy. For the past two weeks, no single rice truck entered the country, pushing a kilogram of rice to Shs 4,000 from Shs 3,500.

A total of 530 acres of rice in Mbigiri, Tindiga and Kilangali wards in Kilosa District, Morogoro Region have been destroyed by quelea birds, leaving farmers in shock of loss and famine risk.

A coalition of rice farmers and other crop growers on Friday moved to drag the Governor of the Central Bank of Nigeria, Godwin Emefiele into the 2023 presidential race by purchasing the N100 million All Progressives Congress’ presidential Expression of Interest and Nomination forms for him.

The Australian Government is supporting quality rice seeds through the Quality Declared Seed (QDS) system under the Cambodia-Australia Agricultural Value Chain Programme (CAVAC), according to the Australian Embassy in Cambodia.

Northern Rivers rice growers who lost half their crops in the recent floods say they have been dealt another blow. 

Every time you serve rice at home or have it at a restaurant in town, there is a high chance it had travelled over 8400 kilometres from Asia to reach your plate.

Thanks to consistent rainfall and well-timed warm temperatures, the New South Wales rice crop is set to be the largest in five years, with the industry predicting 600,000-650,000 tonnes to be received into storages by the end of May.

Queensland government scientists are working to double soybean production in high rainfall coastal and hinterland areas within three years, a move that could potentially spark further growth in what is currently a $30 million industry in existing and emerging crop regions in Bundaberg, Mackay and the Burdekin.

Minister for Agriculture, Doctor Mahendra Reddy says approximately 80 percent of rice consumed in Fiji is mostly imported from Vietnam and we are losing out $42 million per year by paying for the rice.

The Australian dollar looks ripe for further upside as it continues to benefit from soaring commodity prices while also facing limited downside from economic or financial linkages or geographical proximity to the Russia-Ukraine conflict, according to analysts at Standard Chartered.

Of the responses from nearly 1000 farmers from around the country to the January farm confidence survey, a net 7.8 per cent considered current economic conditions to be good.

Rice is one of Australia's thirstiest crops, but the industry has now set itself the ambitious target of improving water efficiency by 75 per cent by 2026. 

Rice farmers and ecologists in south-west New South Wales are weaving new partnerships between agriculture and wildlife conservation in efforts to rescue a little-known waterbird with a mysterious story.

The US Department of Agriculture in its May 12 World Agricultural Supply and Demand Estimates report supported a bullish outlook for 2022-23 wheat and corn with reduced supplies for wheat, lower production for corn, and higher prices for both. But the outlook for soybeans was somewhat less bullish with projected increases in supplies, crush, exports, and carryover, although prices were forecast sharply higher.

Russia intentionally started a grain war, deliveries are not possible and prices are rising, with the risk of famine, they are not collateral damage, it is an intentional strategy. Russia is creating the basis for new crises so that international cooperation can be reduced.

Global trade of cereals is forecast to decline by 1.2% to 473 million tonnes in the 2021-22 marketing year compared to the previous year’s record total, according to the United Nations’ Food and Agriculture Organization (FAO).

Serbia’s wheat and corn exports are expected to drop significantly from earlier estimates in 2021-22 due to the ongoing Russia-Ukraine war, which led Serbia to ban exports it deems important to food security, according to a Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture (USDA)

Using a B30 biofuel-blended marine fuel for the first time, Louis Dreyfus Company (LDC) successfully completed a biofuel trial collaboration with Wisby Tankers AB, Sweden, on one of LDC’s upgraded juice vessels, MV Essayra, LDC announced April 29.

The National Food Authority (NFA) over the weekend reported narrower losses in the past year following the implementation of the Rice Tariffication Law (RTL), the Finance Department announced.

A German government official is saying Russian attacks on Ukraine’s grain infrastructure appear to be attempts to diminish competition in Russian export markets, Reuters reported.

Uncertainty stemming from the war in Ukraine clouds the outlook for grain production and trade in the European Union, according to a Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).

The President of the African Development Bank, Dr Akiwumi Adesina, has revealed that the bank has developed a $1.5bn Africa Emergency Food Plan, which is now before its Board for approval.

The German government is working to build a “grain bridge” to move agriculture products out of Ukraine and bring machinery in by railways, according to Handelsblatt, a German media outlet.

Mexico will waive import duties for one year on a range of household staples, most of them foodstuffs, in a bid to curb inflation, the government said on Monday.

Mexico aims to as much as triple its fertilizer production, the government said on Sunday, to support its plan to boost local agriculture production and control consumer price inflation.

Expected dry weather will mean a smaller wheat crop in Argentina in the 2022-23 marketing year, according to the Rosario Grains Exchange.

The Arkansas Agricultural Experiment Station's Rice Breeding Program off-season harvest in the U.S. territory of Puerto Rico pulled in a record amount of rice breeding materials this year for ongoing experiments and seed increases.

Self-Help International is promoting the cultivation and consumption of biofortified rice in Nicaragua, making rice the third nutritionally enhanced crop that Self-Help has introduced there.

Lower wheat production and exports are forecast for Argentina in the 2022-23 marketing year, according to a Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).

As its economy continues to recover, Venezuela is expected to increase its wheat consumption by 5% in 2022-23, according to a report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).

Alicorp SAA, Peru’s largest flour miller and a company with wide-ranging business interests, has expanded its flour production capabilities by nearly 50% at its plant in the Callao district near Lima, the nation’s capital.

The burning of rice stubble in the province of La Vega and other rice-growing areas has become an environmental and sanitary problem, denounced yesterday by Senator Ramón Rogelio Genao, who called for the intervention of the country the corresponding authorities to stop this.

Wheat production in Paraguay for marketing year 2022-23 is expected to hit 1 million tonnes on better yields from similar acreage compared to 2021-22 with exports increasing to 280,000 tonnes, according to a Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).

Drought is threatening the Iraqi tradition of growing amber rice, the aromatic basis of rich lamb and other dishes, and a key element in a struggling economy.

Turkey's leading agribusiness firm Yayla Agro Gida is expecting to raise 887.5 million lira ($59.25 million) in an IPO this week, and it will be followed by a new investment in Turkey and a buy-out in the United States, its chairman said.

Iran’s campaign to bypass US-led sanctions is moving into higher gear as more countries, especially in Asia and Latin America, soften up to barter trade with the Islamic Republic.

The Ports and Maritime Organization of Iran have started dredging works in the Gorgan Bay, said the Iranian Government Spokesman Ali Bahadori Jahromi, Trend reports citing ISNA.

Drought continues to plague Iraq as the Iraqi Ministry of Agriculture recently cut agricultural cropping in irrigated areas of the country to 50% less than the previous year due to shortages in surface water, according to a Global Agricultural Information Network (GAIN) report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).

Jordan, a limited producer of cereal grains gradually building up its grain reserves, will import 1.3 million tonnes of wheat in marketing year 2022-23, according to a Global Agricultural Information Network report from the Foreign Agricultural Service of the US Department of Agriculture (USDA).

Contract-based cultivation of rice has been launched in Iran this year (started March 21) for the first time and more than 6,322 hectares of paddy fields have joined the scheme so far, according to CEO of the Central Organization for Rural Cooperatives affiliated with the Agriculture Ministry.

A fifth batch of food aid from China has been being distributed on Friday in Afghanistan amid a humanitarian crisis in the war-torn country, which is suffering from an economic meltdown.

Weather conditions are expected to lea to an 8.2% drop in Israel’s wheat production to 90 million toones in 2022-23, according to a report by the Foreign Agricultural Servuce of the Us Department of Agriculture (USDA).

With commodity costs hitting daily record highs, and food prices far surpassing levels seen in the historic 2011 as a result of the collapse of Russian and Ukrainian food exports.

On Thursday May 12, the Government of Brazil (GOB) cut import tariffs for several categories of goods, focusing on food staples in an attempt to reduce consumer inflation

Russia’s recent military invasion of Ukraine significantly increased the uncertainty of agricultural supply and demand conditions in the region and globally

Global corn production is forecast down, driven primarily by a cut in Ukraine and the United States, but China and the European Union are expected to have smaller crops as well

Ukraine wheat production for marketing year (MY) 2022/23 is forecast at 21.5 million metric tons, down 35 percent from last year, and down 23 percent from the 5-year average. T

International prices of coarse grains fell in April as maize harvests in Argentina and Brazil helped ease pressure on maize markets.

For rice, strong Asian demand and weather setbacks in the Americas drove international prices up during April.

This full text file contains reports, issued weekly during the growing season (April to November), which lists planting, fruiting, and harvesting progress and overall condition of selected crops in major producing states.

Angola’s wheat milling capacity has increased to achieve self-sufficiency with five wheat mills now operating in the country, with milling capacity of up to 1 million metric tons of wheat per year. Market price is a major challenge to increasing U.S. wheat exports to Angola.

Spring planting in the Northern Hemisphere is underway amid high commodity prices but high input costs as well.

This report provides trade data on Vietnam's monthly rice exports by grade and destination and weekly export quotes for rice by grade.

Trading last week was focused on Thursday’s supply/demand report from USDA.  The rice market’s reaction to the May WASDE was favorable as new crop futures closed 10 ½ cents higher Thursday.

The University of California Cooperative Extension (UCCE) is actively setting up traps across the Sacramento Valley to monitor armyworms

On Thursday, May 12, the USDA released its first complete 2022/23 marketing year supply and demand estimates for corn, soybeans, and wheat in the May 2022 WASDE report.

This week, the Agricultural and Food Policy Center (AFPC) at Texas A&M University released a study on the impact of commodity price changes and higher input costs on its 64 crop representative farms, including rice farms, requested by Senator John Boozman (R-AR), ranking member on the Senate Agriculture, Nutrition, and Forestry Committee.

Drought in the west continued to drag US winter wheat conditions lower, while the cool wet start to the season had spring wheat seeding remarkably behind normal pace, the US Department of Agriculture said in its May 16 Crop Progress report.

This week, the Agricultural and Food Policy Center (AFPC) at Texas A&M University released a study on the impact of commodity price changes and higher input costs on its 64 crop representative farms, including rice farms, requested by Senator John Boozman (R-AR), ranking member on the Senate Agriculture, Nutrition, and Forestry Committee.

A wild day of weather is on tap for millions in the northeastern U.S. Monday as a round of severe storms is forecast to bring strong winds, large hail and possible tornadoes from Virginia to New York State.

Consumers paid more to obtain food commodities during the first quarter of this year, when compared with both first and fourth quarters of last year.

Better weather helped Arkansas farmers make big strides in planting progress.  Planting progress for most crops is near average, despite the late start.

California’s worsening drought is spreading misery among Sacramento Valley farmers, their workers and a host of businesses that revolve around Valley agriculture.

Governments around the world are taking steps to safeguard food supplies as inflation soars due to supply-chain disruptions caused by the COVID-19 pandemic and the war in Ukraine.

Vegetable oil and maize prices slightly decrease after recent surge, while rice, meat, dairy and suger prices slightly increase and global trade prospects dim

Every day, millions of sailors, truck drivers, longshoremen, warehouse workers and delivery drivers keep mountains of goods moving into stores and homes to meet consumers’ increasing expectations of convenience. But this complex movement of goods underpinning the global economy is far more vulnerable than many imagined.

Rice is one of the most consumed staple foods in the world, but its production creates environmental and social problems.

The benchmark gauge for world food prices went up in February, reaching an all-time high, led by vegetable oils and dairy products, the UN's Food and Agriculture Organization (FAO) said.

The culturally and historically important role of steep-slope agriculture, including traditional olive groves, is threatened by increasingly arid climates and desertification.

Rice Seeds Market report acts as an efficient and tested tool as it collects important market data including market growth factors and entire market scenario.

Cereal production, utilization and trade are all reaching record levels in 2021-22, according to the Feb. 3 UN Food and Agriculture Organization (FAO) report, which also noted a rise in its Food Price Index (FFPI).

ADAMA announced that it has received registration by the U.S. Environmental Protection Agency (EPA) for two rice herbicides: Diverge™ Silk and Diverge™ EC.

Numbers are a fickle mistress.

Wheat importers in Asia were scrambling to find new sources of supply on Monday after India banned exports of the grain at the weekend in a bid to keep a lid on soaring domestic prices, trade sources told Reuters.

The European Union and the United States agreed on Monday to closer cooperation to counter disrupted supply of commodities and food caused by Russia’s invasion of Ukraine and to combat disinformation from Moscow.

Euro zone trade balance swung into a record deficit in March, data showed on Monday, on surging costs of imported energy.

Russia’s invasion of Ukraine and the resulting surge in energy and commodity prices will slash euro zone economic growth this year and next, while boosting inflation to record levels, the European Commission forecast on Monday.

A proposed EU embargo on imports of Russia crude oil and refined products would keep prices at elevated levels in the short term as it would require redirecting trade flows from other regions and utilising spare capacity,

Saudi Arabia is on track to lift oil production capacity by more than 1 million barrels per day to over 13 million barrels bpd by the end of 2026 or start of 2027, the energy minister said on Monday.

Double Chabi is an esteemed brand in the production and distribution of rice, and has been active for over seventy years in the commercial space, with no sign of slowing down any time soon.

Millions of tons of sugarcane waste, also known as bagasse, is produced every year. And India grows the second-most sugarcane of any country in the world. That's why Yash Pakka's brand Chuk is creating tableware out of the waste that is usually burned for fuel.

Japan and the EU agreed on May 12 to cooperate and help each other’s security of LNG supply, and work together to reduce Europe’s dependency on Russian energy supply by ensuring diversification through necessary investments.

Global food demand continues to be strong but the supply side is going through turmoil because farmers across the world have seen their input costs go up. How much these input costs have risen is very dependent on the region and the type of crop the farmers cultivate or the type of animals they rear.