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June, 2014




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TOP Contents - Tailored for YOU
Latest News Headlines
USA Rice Educates New Orleans "Locavores" on Benefits of Rice
CME Group/Closing Rough Rice Futures
Amira Nature Foods Ltd to Participate in the Jefferies 2014 Global Consumer Conference
City of Bastrop signs on to protect Colorado River
Millers warn of more rice price hikes
Solid harvest for growers
Vinafood 2 denies kickback allegation in Philippine rice contract
Thailand Ends Controversial Rice Subsidy Scheme
Soldiers join provincial officials in taking care of rice stockpiles nationwide
NCPO may offer rice farmers subsidy of Bt1,700-per-rai in three-way meet today
Rice piles up as exports slow
Thai rice farmers paid $2.9 billion of arrears, state bank says
Six agencies in collaborative venture to promote high-quality rice seed production
Ricce Pledging Project draws to Close
Nagpur Foodgrain Prices Open- June 17
India to Offload 25% of Rice Stocks as Monsoon Threatens Prices
Rice exporters dilemma
Iraq's central government suffers mortal blow
Ghana: Farmer Applauds Govt for Banning Rice Importation

News Detail
USA Rice Educates New Orleans "Locavores" on Benefits of Rice
Jemison speaking to a crowd
Randy Jemison Knows Local Rice




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NEW ORLEANS, LA - The local food movement is growing at a rapid rate throughout the country and New Orleans is
staking its claim as a pace setter. The New Orleans local food eating population, or "Locavores" as they are called, is on
the rise and in its fourth year the New Orleans "Eat Local Challenge" (ELC) has set a goal to register one thousand
participants to eat only locally-sourced foods during June.USA Rice's Randy and Mary Jemison attended the ELC weekly
meeting at the Zeitgeist Multi-Disciplinary Arts Center last week and presented a farm-to-table report of Louisiana and
U.S. rice production.

Rice recipe brochures, information on the nutritional value of rice, and statistics on rice sustainability were shared with
attendees. "There is a greater interest these days in building a connection with food sources, said Lee Stafford, co-founder
of the New Orleans Eat Local Challenge. "The average consumer is better informed and is reading labels. The [USA
Rice] presentation was a way for participants to build that connection."Supreme Rice Mill of Crowley, Louisiana is a
sponsor of the month-long challenge and provided bags of Louisiana-grown rice to participating Locavores.
Contact: Randy Jemison (337) 738-7009
SA Rice Annual Report Wins Excellence in Publishing Award


ARLINGTON, VA - The 26
th
Annual APEX Awards for
Publication Excellence have been announced, and the USA
Rice Federation's annual report, "Viability," has been
named a winner.The APEX awards are a highly
competitive business communications contest sponsored by
the editors of Writer's Web Watch and the Writing that
Works Archives."APEX 2014 awards were based on
excellence in graphic design, editorial content and the
success of the entry-in the opinion of the judges-in
achieving overall communications effectiveness and
excellence," the contest sponsors said in a release. "Each
year, the quality of entries increases. Overall, this year's
entries displayed an extraordinary level of quality. The
APEX judges saw only the most promising publications that professional communicators could enter. From
them, they had the truly difficult task of selecting the award-winning entries."

This year's contest included more than 2,000 entries
across 11 major categories and 122 subcategories.
There were 82 entries in the annual report category
with the nonprofit grand awards given to New York
Methodist Hospital's "Report to the Community" and The Honor Society of Phi Kappa Phi of Baton Rouge's
"2012 Phi Kappa Phi Annual Report: Mission in Action."

Worth another look



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"Being recognized by writing and design professionals from amongst so many high level entrants is very
gratifying," said Deborah Willenborg, USA Rice's manager of marketing and communication who shepherded
"Viability" from initial concept through to finished product."Viability" not only serves as an annual report to the
members of the USA Rice Federation, highlighting the organization's major recent accomplishments, but it also
tells the story of the U.S. rice industry, including sustainability efforts and industry trends. You can access the
award-winning publication online, or contact USA Rice's communications team to receive hard copies.

Contact: Michael Klein (703) 236-1458
CME Group/Closing Rough Rice Futures
CME Group (Preliminary): Closing Rough Rice Futures for June 17.

Month Price Net Change
July 2014 $14.650 - $0.015
September 2014 $14.010 - $0.140
November 2014 $14.190 - $0.155
January 2015 $14.335 - $0.155
March 2015 $14.495 - $0.155
May 2015 $14.495 - $0.155
July 2015 $14.495 - $0.155


Amira Nature Foods Ltd to Participate in the Jefferies 2014 Global
Consumer Conference




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DUBAI, United Arab Emirates, Jun 16, 2014 (BUSINESS WIRE) -- Amira Nature Foods Ltd (the
"Company") ANFI +0.55% , a leading global provider of branded packaged Indian specialty rice, today
announced management will present at the Jefferies 2014 Global Consumer Conference on June 18, 2014 at
10:00 a.m. ET.
Live audio of the presentation will be simultaneously webcast on the investor relations section of the
Companys website at www.amira.net . The webcast of the presentation will be archived and available on the
Companys website.
About Amira Nature Foods
Founded in 1915, Amira has evolved into a leading global provider of branded packaged Indian specialty rice,
with sales in over 40 countries today. Amira sells Basmati rice, which is a premium long-grain rice grown only
in certain regions of the Indian sub-continent, under its flagship Amira brand as well as under other third party
brands. Amira sells its products through a broad distribution network in both the developed and emerging
markets. Amiras global headquarters are in Dubai, United Arab Emirates, and it also has offices in India,
Malaysia, Singapore, Germany, the United Kingdom, and the United States.

SOURCE: Amira Nature Foods Ltd
Amira Nature Foods Ltd
Bruce Wacha
Chief Financial Officer
201-960-0745
bruce.wacha@theamiragroup.com
or
ICR
Katie Turner
646-277-1200
katie.turner@icrinc.com
Copyright Business Wire 2014
City of Bastrop signs on to protect Colorado River
Coalition members say community benefits from protecting rice farmers
By Miles Smith



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Austin Community Newspapers Staff
A coalition formed to protect the surface water rights of Lower Colorado River Basin communities picked up
strength Tuesday when the Bastrop City Council voted unanimously to become a member of the
organization.The relatively new Lower Colorado River Basin Coalition was formed to push back against
Highland Lakes stakeholders that, in the midst of a long-running drought, have sought to raise the trigger point
for release downstream to 1.4 million acre-feet, a level that Bastrop County Judge Paul Pape says would have
grave ramifications for Bastrop County and rice farmers in Matagorda County.The point of the coalition is not
to deplete the already-low lake levels in lakes Travis and Buchanan the current 850,000 acre-feet release
point is fine, says Pape, who serves on the coalitions executive committee. However, higher release points
could result in a diminished supply of water for the Colorado River running through Bastrop County and rice
farmers as well as create the potential for flooding downstream when heavy rainfall finally occurs.

Those lakes are at historic low levels, and we wouldnt even think about asking for water this year with Lake
Buchanan as low as it is, Pape said. But lakes Travis and Buchanan were never meant to be constant level
lakes. They are meant to go low and high.When the lakes are full, and you get 20 inches of rain, the water
comes down the river and floods us. Right now there is enough water for people to shower and drink. The rice
farmers havent had water released downstream to them in three years, and thats up to nature. But we dont
want to go too far and be too restrictive.Benefits of lower trigger points include the likelihood that water will
be released downstream through Bastrop County, ensuring the river remains healthy and a tourist attraction that
gives the city character, which contributed to the councils decision to join.

Our citys interest in this is that we need to keep up our river, said Bastrop Mayor Ken Kesselus. Its the
heart of our city, and its been here since the beginning. Our logo incorporates the river.The city will pay a
$500 membership fee to join the organization.Pape said the coalition was pleased to have Bastrop on board.Im
excited to have the city of Bastrop join us in the coalition to protect the Lower Colorado River Basins water
interests., Pape said. It just shows that we are all in this together.

The coalition held its first meeting on June 9, where it elected its officers and executive committee. Kirby
Brown, executive director of Ducks Unlimited, is chairman; rice farmer and ex-state representative Robby Cook
is co-chair; Mitch Thames is treasurer and Robert Howard is secretary.




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Bastrop County representation on the board includes Pape and Mark Rose of Bluebonnet Electric Cooperative
and former Lower Colorado River Authority general manager.Ensuring the health of the rice industry in Texas
is important for myriad reasons, Pape stressed, noting that without irrigation releases, water flowing down the
Colorado River is almost all treated wastewater effluent from Austin.When the rice farming industry is eliminated,
there will be little reason for interruptible water releases, Pape said. We in Bastrop County, and everybody else who benefits
from those irrigation releases, will bear the consequences.

Millers warn of more rice price hikes
By Anselmo Roque
Inquirer Central Luzon
8:34 pm | Tuesday, June 17th, 2014
A worker unloads commercial rice in front of a warehouse in Dagupan Street, Tutuban in Manila on Sunday.
Commercial rice prices are expected to go up by P1 to P2 per kilo during the lean months beginning this June
according to National Food Authority (NFA) said. INQUIRER FILE PHOTO

SAN JOSE CITY, Nueva EcijaRice millers in Nueva Ecija
province, the countrys top rice producer, said the public
should be ready for more increases in the prices of rice,
especially during the lean months.We bought the dried palay
at P25 a kilogram and paid P20 to P21 for the fresh harvest. At
that purchase price, we cannot be expected to sell it at lower
than P38 a kilo of the milled rice, said Edgardo Alfonso,
president of the 26-member San Jose City Rice Millers
Association.He said from wholesalers, to whom rice millers
deliver their supply, the shipment still has to go to retailers.

He said retailers would increase the prices so they could earn.We agree that there is a thin supply of rice in the
market due to the unattained target [in the government's] rice self-sufficiency program and thats why the
government imported rice. But we dont see that the price of commercial rice can be pushed down as that would
mean losses for those engaged in the grains business, he said. Reports said the current market price of rice was
P2 higher than the price three months ago.

Alfonso said the government can control only the prices of rice that the National Food Authority imported. But
he said the millers selling price for their wholesale clients may still go up.This is just the beginning of what



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may be an upward trend in the pricing of commercial rice. We are buying palay from traders for at least at P26 a
kilo. This means that the premium rice (whole grains) will be sold to wholesalers at P45 a kilo while those with
broken grains will be sold at P40 a kilo, he said. He said he did not believe reports that a rice cartel was
dictating the prices of rice in the market.

He said millers association supplies wholesalers in Metro Manila, Cebu province and provinces in Southern
Tagalog with at least 30,000 bags of milled rice daily. They price their commodity without the influence of any
group or individual, he said.Alfonso said there appeared to be a problem in the strategy used by the Department
of Agriculture and the NFA in handling the rice supply problem in the country.In the first place, why did the
DA allow the rice millers and the traders to offer very high farm gate prices of palay at an unprecedented level
this year? It should have made some interventions. It was okay that farmers earned much, but how about the
consumers now? They are crying because of the high price of milled rice, he said.According to him, the
government should consult with the leaders of the rice industry to draw up correct strategies in handling the
situation.
Solid harvest for growers

By TALIA PATTISON
June 17, 2014, midnight
WITH the region's rice harvest finishing up, Ricegrowers Association of Australia (RGA) president Les Gordon
has predicted another solid year for growers.Mr Gordon expected yields to be on par with last year, if not
better.Earlier this year the RGA forecast this year's harvest to bring in about 700,000 tonnes.There were some
setbacks early in the season, as well as rain bringing some growers to a halt just as they started to strip their
paddocks.Mr Gordon said most feedback had been positive.
"All of the growers I've spoken to are pretty happy with how it went this season," Mr Gordon said."They seem
to be pretty pleased this year."I haven't seen any of the final figures for the Murrumbidgee, but we're hoping it
will be the same, if not better, than last year."Prices also appear to be pretty solid, so that is good news for
growers."A warm summer also helped most rice crops in the Leeton shire region.Mr Gordon said the short-term
forecast for the region meant favourable conditions for growers."There's been a bit of rain about," he said.
"However, the inflow into the dams (Burrinjuck and Blowering) has been a bit slow."In saying that I've flown in
and out of Canberra a couple of times in the last few weeks and could see from above just how wet the upper



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Murrumbidgee is."Hopefully that will run into the dams and allocations will be increased in July and
August."Time will tell how that turns out, but it's looking like a pretty good start to the year."
Vinafood 2 denies kickback allegation in Philippine rice contract
Vietnam Southern Food Corporation (Vinafood 2) has rejected a news report that the firm had bribed a Filipino official to win a government-to-
government rice export contract in April.

Bribe giving is impossible at such an
international competitive tender, Nguyen Ngoc
Nam, deputy general director of Vinafood 2, told
the Daily after the news appeared on
www.oryza.com, a popular website on global rice
markets.According to the website, a Philippine
agriculture official allegedly struck a midnight
deal with Vinafood 2 in April this year to hand
the firm a contract to supply 800,000 tons of 15%
broken white rice between May and August this
year.However, Nam turned down the allegation,
explaining that this was an international tender,
so anyone offering the lowest bid would win the
contract. The Philippines has organized rice
auctions many times with bidders in the region
such as Thailand, Cambodia, India and Pakistan
sticking to the rule.There might be some internal
disputes in the Philippine agency, Nam told the Daily via telephone last Friday.

In April, Vietnam won the bidding to supply 800,000 tons of 15% broken rice to the Philippines.Vinafood 2
offered an average Cost, Insurance and Freight (CIF) price of nearly US$439 per ton, lower than those of other
bidders by around US$30 a ton. Cambodia and Thailand bid for US$469 and US$474 per ton
respectively.Between 2001 and 2003, Indonesian media reported that Vinafood 2 gave kickbacks to an official
of Indonesias state food procurement body Bulog to obtain a rice export contract.Vinafood 2 then denied the
allegation, saying the governments of the two countries had signed the rice purchase contract in 2001 and that
Vinafood 2 was just chosen to implement the deal.

Rice shipments to Philippines behind schedule

*Vietnam has been able to ship only 118,000 tons of rice to the Philippines more than one month after winning
the 800,000-ton contract, much lower than the goal of 200,000 tons a month.Pham Van Bay, vice chairman of
the Vietnam Food Association (VFA), said local enterprises exported 493,000 tons of rice to the Philippines in
the first five months of this year, including part of the 500,000-ton contract in 2013 and part of the 800,000-ton



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contract this year. In May, Vietnam exported just 118,000 tons to the Philippines, far below the target of
200,000 tons each month.

However, Bay said Vietnamese exporters have not been fined for failing to meet quality requirements. Earlier,
the National Food Authority (NFA) of the Philippines announced it would fine Vietnamese firms if they failed
to meet the broken ratio, with fines of US$3 for a ton of rice whose broken ratio surpasses 1% and US$6 for
2%.Some enterprises sought approval from VFA to pull out of the contract due to strict quality requirements
and fears of possible losses. However, Vinafood 2 and Vietnam Northern Food Corporation (Vinafood 1) have
encouraged them to implement the contract to protect the nations prestige, Bay said.
SGT/VN
Tags:VinafoodPhilippine rice contract,
Thailand Ends Controversial Rice Subsidy Scheme

Ron Corben
Last updated on: June 16, 2014 7:51 AM
BANGKOK Thailand's military government ended a rice price-
support scheme, put in place under the former civilian government,
as investigations continue into widespread corruption and losses of
billions of dollars from the program.The policy change comes as
Thailand is predicted to return as the world's largest rice exporter,
eclipsing the current market leader, India.Thailand's military leader,
General Prayuth Chan-Ocha, said all rice price-support schemes
were dismissed unless they provided direct benefits to the farmers.
Prayuth said alternative measures were needed to boost agricultural
development and support to farmers.
Under the rice price-support scheme of former Prime Minister Yingluck Shinawatra, the government paid
farmers 50 percent more than world market prices. The government believed the plan could make Thailand,
then the world's largest rice exporter, a price leader and force up global rice prices.The program was a central
policy of Yingluck's government and key to the Pheu Thai party's 2011 election victory.But the scheme, costing
over $19 billion and shrouded in official secrecy, floundered as Thailand, unable to sell its rice at the higher
prices, was left with millions of tons of the grain in warehouses, while the government was engulfed by
allegations of widespread corruption. Government financing for the scheme dried up last year, leaving
hundreds of thousands of farmers unpaid.
About 20 farmers are alleged to have committed suicide because of financial distress, while others took to the
streets in protest in Bangkok pleading for funds.In March, Yingluck's caretaker government, in a bid to raise



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money, began releasing rice at discounted prices onto the world market.Thailand's warehouses could be holding
as much as 18 million tons of rice - double normal levels.David Dawe, a senior economist with the United
Nations Food and Agriculture Organization (FAO), said sales of Thai rice this year led to lower global
prices."One of the ways that they were raising money is they realized that they were going to have to sell some
of the huge stocks that they had," Dawe said. "They just couldn't continue to borrow money and sit on all these
stocks and so they just started selling stocks. Thailand only went out of the market because they were trying to
hoard everything."

Corruption charges
In early May, prior to the military takeover of the Thai government, the National Anti-Corruption Commission
(NACC) found Yingluck at least partially responsible for corruption related to the scheme.A subcommittee is
examining the former prime minister's declared assets along with those of other cabinet members linked to the
program.Farmers from neighboring rice-growing countries, including Vietnam and Cambodia, were illegally
shipping their rice to Thailand to be sold at the higher prices. Rice millers are also under investigation for
overstating rice stocks.The NACC is investigating losses of up to $16 billion, with almost 3 million tons of rice
missing from warehouses.
Thai Rice Exporters Association honorary president, Vichai Sriprasert, said the military is now assessing the
actual quantity of rice in warehouses."We address first the quantity - let's say the quantity, how many tons do
we have? That hasn't been resolved yet. And after the quantity is resolved, to check the quality is much more
difficult because the warehouse is full," Vichai said. "You cannot really go into the center of the warehouse. It's
not possible to do that now - but once you know the quantity is correct, then the second stage would be to
identify quality.
"Currently, Vichai said Thai rice is the cheapest on the global market, as the country works to clear the
backlog.However, the outlook for Thai rice is optimistic.The U.S. Agriculture Department said Thailand is
forecast to be the largest rice exporter again by 2015, shipping almost 10 million tons - the highest since a
record of 10.6 million tons in 2011 prior to the rice-price scheme.

FILE 1- Thai workers unload rice from the truck of a farmer, at a rice collection center, in the northeastern
province of Roi Et , in Thailand.

FILE 2 - Thai farmers march through the street during a rally to put pressure on the Office of the Anti-
Corruption Commission in Bangkok, Thailand, Feb. 7, 2014.



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Soldiers join provincial officials in taking care of rice stockpiles
nationwide
Tuesday, 17 June 2014By NNT
BURIRAM, 16 June 2014 - Military officers in Nakhon Ratchasima and Buriram Provinces have been
instructed to support government officials in taking care of stockpiles of pledged rice in the areas, in their bids
to prevent unauthorized transfer of rice stocks. The Military Circle of Buriram has announced it would look
after Klangpreecha Panitch silo in the province that houses the 2013/2014 pledged rice, making it the fourth
party to oversee the rice stocks in addition to the Public Warehouse Organization (PWO), a surveyor company,
and the provincial administration. The move is part of the National Council for Peace and Order (NCPO)s
efforts to prevent smuggling or moving the stockpiles from the silo pending a new round of inspection.
Similarly in Nakhon Ratchasima Province, military personnel and the
provincial police and PWO officials have been dispatched to examine
the stockpiled rice in Ratchasima Boonnapha warehouse. After the
inspection, officials put on padlocks on the establishment, a gesture
signaling the venue is now under the watchful eyes of the military. All
the 48 rice silos in the province are now under the protection of the
soldiers.Meanwhile, Managing Director of the Bank for Agriculture
and Agricultural Cooperatives Luck Watjananawat has announced that
it will close the rice pledging scheme for the 2013/2014 planting
season soon with the final payment of 20 billion baht being made on
Tuesday June 17th, a bit earlier than the previous schedule of June
22nd.

NCPO may offer rice farmers subsidy of Bt1,700-per-rai in three-way
meet today
Petchanet Pratruangkrai

The Nation June 18, 2014 1:00 am

The military's ruling National Council for Peace and Order will today (June18) consider granting farmers a rice-
production subsidy of Bt1,700 per rai, after farmers proposed Bt3,000 per rai.The NCPO's economic team is scheduled to
meet with farmers and rice millers today to finalise measures to help farmers in the upcoming rice-harvest season.The
junta earlier decided not to support farmers as previous elected governments had done through costly pledging or price-
guarantee projects. But farmers pleaded for some form of assistance as the market price for paddy white rice has dropped
to only Bt5,000-Bt6,000 per tonne.A senior government official said reducing the costs of production could be the final



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choice to help rice farmers, as it would not cost much. The military government will ask manufacturers of chemical
fertiliser and pesticide to cooperate by reducing their retail prices.

Other cost-reduction measures could include asking landlords
to reduce rental fees for rice plantations, and providing some
funds for community cooperatives to purchase rice
seeds.However, a source with a fertiliser manufacturer said
producers could only reduce their prices for a short period,
since they faced rising costs of imported chemicals because of
the weaker baht and other factors.Vichian Phuanglamjiek,
president of the Thai Rice Growers Association, said farmers wanted the government to grant them about Bt3,000 per rai
(Bt18,750 per hectare) to reduce their production costs.He said farmers wanted the government to set a price for rice
based on the average production cost plus a 40-per-cent profit margin so they can survive.Vichian pointed out that the cost
of rice cultivation was currently Bt5,000-6,000 per rai, very close to the market price. Farmers are now facing losses.
Workers plant a new crop of rice in Kampong Chams Batheay district late last year. Only 20 per cent of rice produced during the past
harvest season has been sold.Hong Menea

Rice piles up as exports slow

Wed, 18 June 2014
Hor Kimsay
Lagging demand from foreign buyers has led to Cambodian rice being stockpiled at the countrys mills,
according to the head of the countrys peak rice body.Sok Puthyvuth, president of the Cambodia Rice
Federation (CRF), said that with exporters receiving fewer orders, the countrys larger rice millers have been
able to sell only 20 per cent of stock produced during the most recent harvest season.[Orders] have fallen
sharply in recent times. Exports this year are proving very difficult for our members, he said, adding that this
time last year, at least 70 per cent of stock had been sold by the bigger companies for export.
Puthyvuth said the slump in Cambodian rice orders was due to deflated prices in Vietnam and in Thailand,
where a recent rice surplus sell-off saw 12.8 million tonnes equal to about a third of the worlds total export
market flood the market from January.Cambodian rice currently trades at $440 per tonne. Meanwhile, rice in
Thailand and Vietnam is selling for $385 per tonne and $405 per tonne respectively.With the next harvest
season due to begin in just three months, Lim Bun Heng, chairman of rice export firm Loran Group, said that
millers had been pressuring his company to find buyers for Cambodian grain.They are concerned and are



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asking us to find a way to export the rice stocks as soon as possible, he said.Most of them borrow money
from banks to buy the rice from the farmers in the first place, so they need to start repayment.
In addition, the informal export of raw paddy, which is often traded over the border, has also slowed, making
collection easier for local millers.However, as demand for exports of Cambodian milled rice weakens, a
bottleneck is resulting, which itself results in increasing stockpiles, Heng added.A rice mill owner, who asked
not to be named for fear of damaging his businesss reputation, said that he had more than 2,000 tonnes of rice
waiting for a buyer in Battambang province.The mill owner added that he had accrued over $400,000 worth of
bank loans to buy the rice off local farmers in the hope of selling it on to exporters for overseas markets.To pay
back the bank only, I am forced to sell the paddy off at a lower price than what I bought it for, he
said.Independent agricultural analyst Srey Chanthy said Cambodia must lower both paddy and milled rice
prices to maintain sustainable competition with regional producers.Our rice quality is already good, so what
we need to do is focus on price, he said.If we can produce and sell at a similar price as others, we will be able
to enter many other markets.

Thai rice farmers paid $2.9 billion of arrears, state bank says
BY APORNRATH PHOONPHONGPHIPHAT
BANGKOK Tue Jun 17, 2014 3:56am EDT

CREDIT: REUTERS/CHAIWAT SUBPRASOM
(Reuters) - Thailand's military government has paid rice farmers
all the arrears of 92.4 billion baht ($2.86 billion) owed under a
controversial state purchase scheme, a senior official of the bank
that funded the program said on Tuesday.The move ended the
government's biggest expenditure on the costly scheme, following
a vow by the junta government to halt it for now. Farmers had
been waiting for their money since last October.
"The government and the BAAC have managed to pay all those 800,000 farmers now and we don't have any
plan to spend on buying rice from now on," Supat Eauchai, an executive vice-president of state-owned Bank of
Agriculture and Agricultural Cooperatives (BAAC), told Reuters.The farmers had been left unpaid for months
after former premier Yingluck Shinawatra dissolved parliament in December, turning her government into a
caretaker one that had no power to borrow money to pay off the arrears.



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An anti-government group staged a 6-month-long protest that led Thailand into a political impasse until the
military took control on May 22.Thailand's military leader General Prayuth Chan-ocha said on Friday the ruling
military council had no immediate plans to maintain the rice-buying scheme begun by the ousted Yingluck.The
scheme was one of the major policies that brought Yingluck to power in 2011, thanks to a promise to pay
farmers grain prices way above market rates.Supat said the government had spent 8.80 billion Thai baht in
buying rice from farmers since the policy was adopted in October 2011.
The scheme was expected to run up huge losses as the government was forced to sell rice from state stockpiles
at market prices that were more than 50 percent less than the price of 15,000 baht per metric ton it had paid
farmers.Yingluck's government never revealed the exact losses to the media during its time in power.However,
the military government had said it would start checking on rice stocksthroughout the country immediately
before preparing a plan to manage the remaining stocks, amounting to more than 10 million tonnes, and to cover
the losses.
($1=32.3500 Thai baht)
(Editing by Clarence Fernandez)
Six agencies in collaborative venture to promote high-quality rice seed production
Photo: A Thai farmer works on his rice field in Nonthaburi province, on the outskirts of Bangkok March 1, 2014.

Six agencies in collaborative venture to promote high-quality rice seed
production
The Nation
June 17, 2014 1:00 am

Six key organisations have joined hands to promote the production of high-quality rice seeds.The agencies
involved in the collaboration are the Rice Department, the Bank for Agriculture and Agricultural Cooperatives,
the Thai Rice Foundation under Royal Patronage, the National Science Technology and Innovation Policy
Office, the Agricultural Research Development Agency and the National Science and Technology Development
Agency (NSTDA).The shortage of high-quality seed is one of the major problems faced by rice farmers and
others in the sector in Thailand, as it directly affects the production and quality of rice grains entering the
domestic and world markets. Currently, only 40 per cent of rice-seed demand is met, leading to production
problems such as low yield and inconsistent and low-quality rice grains.

The root causes of problems in rice-seed production are many: access to elite lines and master seeds; a lack of
seed-production knowledge among farmers; a shortage of inspectors to certify high-quality seed; a
disconnection between producers and distributors; and weak financial structure to support the
production/distribution chain. The six organisations will, therefore, work together to address these problems
based on the strength and expertise of each body.



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Thaweesak Koanantakool, president of the NSTDA, said the overall objective of the collaboration is to develop
the network of rice-seed producers and distributors; upgrade the system of production and certification of high-
quality seed; and meet the Kingdom's rice-seed demand. The activities to be undertaken will comprise the
launch of a training programme in seed production and boosting human capital in the field of seed certification;
raising awareness among farmers of the importance of quality seeds; and access to financial resources for
farmers and business operators in the value chain.With this collaboration, rice production in Thailand can be
advanced, generating significant income for farmers as well as increasing the competitiveness of the rice
industry in the global market, he said.

Ricce Pledging Project draws to Close
Date : 17 2557
BANGKOK, 17 June 2014, (NNT) - Several offices of
the Bank for Agriculture and Agricultural Cooperatives
(BAAC) have started terminating their rice support
projects, as most of farmers participating in the scheme
have been paid. Most of the rice farmers in Ang Thong
have started withdrawing their payments from the BAAC
to fund their next rice planting season, after the bank
transferred the funds into their accounts on June 12. The
BAAC's Ang Thong branch has so far paid 92% percent
of the amount owed to farmers, amounting to 1.451
billion baht, according to the BAAC officials, adding that the remaining debts of 126 million baht would be
paid by tomorrow. Meanwhile, the bank's Udonthani branch has announced the termination of its rice pledging
scheme, saying it has since June 12th paid all of the 13,470 farmers for the 20,897 warehouse receipts submitted
by them. The province will from now on focus on promoting traditional organic farming in order to reduce
production costs and raise farmers' income, in line with the National Council for Peace and Orders policies.
Nagpur Foodgrain Prices Open- June 17
Tue Jun 17, 2014 2:43pm IST

Nagpur, June 17 (Reuters) - Gram and tuar prices in Nagpur Agriculture Produce and
Marketing Committee (APMC) firmed up again on increased demand from local millers amid weak supply from
producing belts. Fresh rise on NCDEX, weak overseas supply, healthy rise in Madhya Pradesh pulses and reported
demand from South-based millers also pushed up prices, according to sources.



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* * * *

FOODGRAINS & PULSES
GRAM
* Gram Kabuli moved down in open market in absence of buyers amid increased supply
from producing regions.

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

* Major rice varieties recovered strongly in open market on renewed marriage season
demand from local traders amid tight supply from producing regions like Chhattisgarh
and Madhya Pradesh. Reports about delay in monsoon arrival here also activated
stockists.

* 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 - 2,000-2,200, Gram Super best bold - 3,000-3,300
for 100 kg.

* Wheat 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 2,050-2,440 2,000-2,400
Gram Pink Auction n.a. 2,100-2,600
Tuar Auction 3,800-4,250 3,700-4,170
Moong Auction n.a. 4,600-5,000
Udid Auction n.a. 4,300-4,500
Masoor Auction n.a. 2,600-2,800
Gram Super Best Bold 3,500-3,600 3,500-3,600
Gram Super Best n.a.
Gram Medium Best 3,100-3,300 3,100-3,300
Gram Dal Medium n.a. n.a.
Gram Mill Quality 2,800-2,900 2,800-2,900
Desi gram Raw 2,500-2,800 2,500-2,800
Gram Filter new 2,900-3,100 2,900-3,100
Gram Kabuli 8,000-10,000 8,200-10,200
Gram Pink 7,300-7,900 7,300-7,900
Tuar Fataka Best 6,100-6,400 6,100-6,400
Tuar Fataka Medium 5,900-6,100 5,900-6,100
Tuar Dal Best Phod 5,500-5,700 5,500-5,700



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Tuar Dal Medium phod 5,100-5,400 5,100-5,400
Tuar Gavarani 4,100-4,200 4,100-4,200
Tuar Karnataka 4,000-4,100 4,000-4,100
Tuar Black 7,400-7,700 7,400-7,700
Masoor dal best 6,000-6,200 6,000-6,200
Masoor dal medium 5,800-6,000 5,800-6,000
Masoor n.a. n.a.
Moong Mogar bold 8,900-9,600 8,900-9,600
Moong Mogar Medium best 8,300-8,700 8,300-8,700
Moong dal super best 7,600-8,000 7,600-8,000
Moong dal Chilka 7,700-8,300 7,700-8,300
Moong Mill quality n.a. n.a.
Moong Chamki best 7,800-9,000 7,800-9,000
Udid Mogar Super best (100 INR/KG) 8,200-8,500 8,200-8,500
Udid Mogar Medium (100 INR/KG) 6,800-7,600 6,800-7,600
Udid Dal Black (100 INR/KG) 5,700-6,000 5,700-6,000
Batri dal (100 INR/KG) 3,800-4,800 3,800-4,800
Lakhodi dal (100 INR/kg) 2,900-3,000 2,900-3,000
Watana Dal (100 INR/KG) 3,350-3,450 3,350-3,450
Watana White (100 INR/KG) 3,700-3,800 3,700-3,800
Watana Green Best (100 INR/KG) 5,000-5,400 5,000-5,400
Wheat 308 (100 INR/KG) 1,200-1,500 1,200-1,500
Wheat Mill quality(100 INR/KG) 1,450-1,550 1,450-1,550
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 2,800-3,200
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) 3,800-4,200 3,600-3,800
Rice HMT Shriram (100 INR/KG) 4,400-5,200 4,100-4,900
Rice Basmati best (100 INR/KG) 10,400-13,900 10,400-13,900
Rice Basmati Medium (100 INR/KG) 7,300-10,000 7,300-10,500
Rice Chinnor (100 INR/KG) 4,800-5,400 4,800-5,500
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. 40.7 degree Celsius (105.2 degree Fahrenheit), minimum temp.
24.5 degree Celsius (76.1 degree Fahrenheit)
Humidity: Highest - n.a., lowest - n.a.



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Rainfall : 11.8 mm
FORECAST: Partly cloudy sky. Rains or thunder-showers likely towards evening or night. Maximum
and Minimum temperature likely to be around 40 and 25 degree Celsius respectively.
Note: n.a.--not available
(For oils, transport costs are excluded from plant delivery prices, but included in market prices.)


India to Offload 25% of Rice Stocks as Monsoon Threatens Prices

By Prabhudatta Mishra and Ketaki Gokhale Jun 17, 2014 9:33 PM GMT+0500

will release about a quarter of its rice stockpiles into the open market and allow farmers to freely supply fruits
and vegetables to rein in prices as a weak monsoon looms over crop output.The administration will sell 5
million tons of rice from central reserves at subsidized rates as soon as possible, Food Minister Ram Vilas
Paswan said in a briefing in New Delhi today. The federal government will also help states to import pulses and
cooking oil if needed and minimum export prices for potatoes will be fixed to discourage outward shipments,
Finance Minister Arun Jaitley said separately.In light of the forecast of a below-normal monsoon, some
hoarding seems to have started, Jaitley said in New Delhi today. We will ask states to crackdown on hoarders
firmly.

The steps are being taken in anticipation of further price rise.Wholesale inflation accelerated to the fastest
pace in five months in May and consumer prices rose 8.28 percent, eroding purchasing power in a nation where
about 70 percent of the population lives on less than $2 a day. More than half of Indias farmlands get water
from the June-September rainfall, which has been 49 percent below normal so far.As a first step, this looks
very sensible, Shubhada Rao, an economist at Yes Bank Ltd. in Mumbai, said by phone. The government
taking steps to manage all of this will have a much more calming impact on inflation.

Inflation Risks

Food Corp. of India, the nations procuring agency, has been instructed not to retain grains for more than 18
months, Paswan announced, and Jaitley said farmers will be permitted to sell fruits and vegetables anywhere
they wish rather than only in state-controlled markets. The government today imposed a minimum export price
of $300 per ton for onions.Food costs have boosted the inflation rate in the last couple of months and the hope
is that with appropriate food management these prices will come down, Reserve Bank of India Governor
Raghuram Rajan said in Mumbai today.

He held the benchmark repurchase rate at 8 percent on June 3 after raising it three times since September to
quell price pressures.A 10 percent drop in rainfall may add more than a percentage point to the consumer-price



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index, and a full blown drought risks shaving as much as half a percentage point off economic growth,
according to HSBC Holdings Plc. The monsoon will be 7 percent below normal this year, Indias weather
department said on June 9.The government has amassed about 21 million tons of rice and 42 million tons of
wheat, more than twice the recommended buffer stock, Agriculture Minister Radha Mohan Singh said June 9.
Other contingency measures under consideration include a diesel subsidy to allow farmers to run pumps to
irrigate standing crops, and more government funds to help buy seeds.

To contact the reporters on this story: Prabhudatta Mishra in New Delhi atpmishra8@bloomberg.net; Ketaki
Gokhale in Mumbai at kgokhale@bloomberg.net

To contact the editors responsible for this story: Daniel Ten Kate at dtenkate@bloomberg.netJeanette
Rodrigues, Karthikeyan Sundaram
Rice exporters dilemma
By Ashfak Bokhari

RICE exporters feel the government has let them down badly by ignoring their key concerns in the new
budget despite a firm assurance of relief by the minister concerned.
Their dilemma stems from the rupees appreciation against dollar in
recent months which was hailed as a sign of good health and a blessing
for the countrys economy by all and sundry. But for rice tycoons, it
came like a bolt from the blue, turning a happy event into a misfortune.
The pre-appreciation orders booked at a time when a dollar was worth
Rs108 now gave them earnings at the rate of Rs 98 a dollar a difference
of almost 10 per cent. The rupee appreciation was very rapid in a short
period of 15 days and rice exporters were not mentally prepared for the
shock.
Their key and urgent demand is compensation for the losses they have suffered. The Rice Exporters
Association of Pakistan (REAP) has now come up with a figure of total losses by its members: Rs6 billion. How
has this huge figure been worked out is not clear. Dozens of REAP members claim to have incurred losses of up
to Rs50 million each. Most of these losses relate to the month of March and onwards.REAP did welcome the
dollars depreciation as a great event that would make the rupee stable against other currencies, but deplored the
fact that it was not taken into confidence by the government while undertaking important policy measures. The
association had presented a list of proposals to the finance minister, but none of them was taken into
consideration in the budget.
A senior REAP vice-chairman Chela Ram pointed out at a recent press conference that they had pinned much
hope on Commerce Minister Khurram Dastagirs promise of providing compensation for the losses through



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budgetary measures, but Finance Minister Ishaq Dar made no such statement in his budget speech. In fact, he
did not utter the word rice in his long speech, although the rice export industry is second only to textiles in
earning foreign exchange. There are multiple ways to compensate the exporters if the government did not want
to do it in cash. It can provide subsidies for freight and on exports, and cut their utility bills.He said if the
government fails to provide relief, a large number of rice units will close down and Pakistans traditional
customers would turn to other exporting countries.
Explaining at the same time why the closure must be avoided, he said the demand for Pakistans long grain
white rice has increased in the global market due to its high quality, despite its high rate of $400 per tonne, as
compared to other rice exporting countries like India, Thailand and Vietnam. In fact, buyers are willing to pay
an extra $30 to $40 because of its excellent quality.Meanwhile, the countrys rice exports in the first 10 months
(July 2013-April 2014) of this fiscal year, according to PBS data, decreased by 5pc (2.66 million tonnes), while
those of the basmati variety fell by 7pc (514,541 tonnes) over the same period last year. However, earnings rose
by 18pc ($1.87 billion), and those of basmati variety by 3pc ($545million) against last years figures.
This means that the outflow of rice is continuing undisturbed despite non-compensation of the losses, and that
there is no evidence of closure of rice units in protest against the governments indifference.In another
development, rice exporters are now keen to resume trade with Mexico by resolving their differences with that
country. They want the Trade Development Authority of Pakistan to take up their case with Mexico and work
out a settlement. Mexico had banned rice exports from Pakistan in June 2013 after finding traces of Khapra
beetle in some shipments. Its port authorities placed about 3,000 tonnes of Pakistani rice in quarantine, and later
returned the whole quantity to Pakistan.
The exporters had rejected the charges, but deplored the lack of interest by the commercial attach of the
Pakistan embassy there in taking up their case.Since then, there has been no trade between the two countries.
Prior to that incident, Mexico had imported around 16,000 tonnes of Pakistani rice in the first half of 2013 and
7,400 tonnes in 2012. Now, the exporters intend to take appropriate measures to prevent a repeat of such an
incident. It takes about 70 days for Pakistani rice to reach Mexico.In its latest report, the USDA Post says rice
production in Pakistan is recovering from three years of successive floods. It has increased its estimates for
milled rice production during the countrys Marketing Year 2013-14 (November-October) to 6.6 million tonnes,
and put exports at a record 3.9 million tonnes, up about 8pc from an estimated 3.6 million tonnes exported in
MY2012-13.
Published in Dawn, Economic & Business, June 16th, 2014
Iraq's central government suffers mortal blow
By Fawaz A GergesLondon School of Economics

Demonstrators shout slogans in support of the Islamic State in Iraq and the Levant in Mosul




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Regardless of whether the Iraqi government in Baghdad rolls back the
recent military advances by the Islamic State in Iraq and the Levant
(ISIS), the central authority has suffered a mortal blow.

ISIS's takeover of most of the so-called Sunni Triangle, as well as Mosul,
the second largest city with almost two million people, hammers a deadly
nail in the coffin of the post-Saddam Hussein nation-building
project.Fragile Iraqi institutions now lie in tatters.It is doubtful if Baghdad
could ever establish a monopoly on the use of force in the country, or exercise authority and centralised control
over rebellious Sunni Arabs and semi-independent Kurdistan.The best-case scenario for Iraq is devolution of
power from the centre in Baghdad to local Shia, Sunni Arabs and Sunni Kurdish communities; the worst is
splintering of the country to three separate entities.ISIS's swift advance has exposed the state's structural and
institutional weaknesses, as well as a deep ideological and sectarian rift in society.

After eight years in office and monopolising power, Prime Minister Nouri Maliki has delivered neither security
nor reconciliation and prosperity.Iraqi security forces, which number hundreds of thousands of men, almost
disintegrated under a stunning sweep of only a few thousand, lightly armed al-Qaeda-linked fighters.More than
a decade after the Americans removed Saddam Hussein from power and dissolved his army, the reconstituted
military lacks a unifying identity and professionalism, and is riddled with corruption.For example, in Mosul,
ISIS militants had a joy-ride through the city because senior and junior officers had already deserted their
positions and weapons, and ordered soldiers to flee home.

A security force in Mosul made up of tens of thousands melted away.Coming to the rescue of a sinking ship, a
representative of the highest Shia authority in the land, Grand Ayatollah Ali Sistani, said the "defence of Iraq
and its people and holy sites is a duty on every citizen who can carry arms and fight terrorists".A parallel army
of an estimated 100,000 volunteers, mainly Shia, has joined the fray, increasing the risks of sectarian
strife.Concerned about misinterpretation of his call to arms, Ayatollah Sistani's office subsequently qualified his
statement by warning his supporters against "any behaviour that has a sectarian or a nationalist character that
may harm the cohesion of the Iraqi people".

Broken system

It is misleading to exaggerate ISIS military prowess and exploits as many reports in the Western media do.Its
strength stems not only from the weakness of the Iraqi state, but also from the communal and social cleavages
that are tearing society apart; it is a manifestation of a bigger revolt by (tribal) Sunni Arabs against what they
view as Mr Maliki's sectarian authoritarianism.t the very heart of the fierce struggle raging in Iraq is a broken
political system, one based on "muhasasa", or distribution of the spoils of power along communal, ethnic and
tribal lines, and put in place after the US invaded and occupied the country in 2003.Sunnis Arabs, particularly in
the last four years, have felt excluded and disfranchised by what they view as Mr Maliki's sectarian-based
policies.When the US left Iraq in 2011, the al-Qaeda brand was in decline, unpopular among Sunnis.Three years



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later, ISIS has revived by finding a "hadana shaabiya", or social base, among dissatisfied and alienated Sunni
Arabs.

Devolution
Seizing the opportunity afforded by the Syrian armed uprising against President Bashar al-Assad, ISIS chief
Abu Bakr al-Baghdadi expanded his activities to the neighbouring country and established a powerful base
which has yielded new recruits and precious financial and operational assets.ISIS has aligned itself with
insurgent Sunni groups, such as officers of Saddam's dissolved army, and co-opted hundreds of these skilled
fighters to its ranks, a turning point in its ability to plan and execute complex operations in both Iraq and Syria.
In Falluja, Mosul, Tikrit and other towns, Sunnis welcomed al-Qaeda militants as liberators and armed men
joined the advancing units.

The offensive has displaced hundreds of thousands of people in Nineveh province
More alarming, Sunni officers who deserted their bases are reported to have said that they would not fight for
Mr Maliki's government, a development that shows the gravity of the sectarian-political rift in Iraq today.

This helps explain the shattering collapse of Iraqi security forces.Sunni tribes and
disgruntled former army officers sealed the fate of the Sunni Triangle.ISIS is only a
powerful vehicle for Sunni Arab grievances, though a vehicle that could ultimately
crush both Sunnis' aspirations and the Iraqi state. The writing is already on the wall.In
Mosul, ISIS has already laid out its iron law which caused disquiet and alarm among
its religious-nationalist and tribal allies who advised caution and prior



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consultation.Even if the Iraqi state recaptures the cities seized by ISIS, it would be unable to pacify the
population without decentralisation of the decision-making and devolution of power to the local level.

Old order dead

Various communities should be empowered to govern themselves and feel invested in the national project, a
vital task to rescue the fragile Iraqi state and rid the country of ISIS and other insurgent groups.The old order is
dead. There is an urgent need to reconstruct the broken political and social system along new lines of
citizenship and the rule of law.
The ISIS assault has allowed Kurdish Peshmerga forces to seize control of Kirkuk and its oil reserves
Neither reconciliation nor institution-building would occur without a new
social contract based on the decentralisation of power and an equitable
sharing of resources.There is no assurance of success given the widening
fault-lines among Iraqis and the lack of trust.Emerging as the biggest
winner, the Kurds might be reluctant to surrender the gains recently made
with their occupation of the strategically important, oil-producing city of
Kirkuk and the consolidation of their Kurdistan borders.In a similar vein,
the Sunni Arab leadership has not come to terms with the new realities of post-Saddam Iraq and still entertains
illusions about ruling the country.Tribal chieftains have acted as cheerleaders for ISIS and seem intoxicated by
a Pyrrhic victory.

Shia monopoly

Mr Maliki, along with the Shia leadership, bears a greater responsibility for Iraq's failure.Western countries
have urged Mr Maliki to reach out to Sunnis to rebuild national unity.Having taken ownership of the country
after the US occupation and overthrow of Saddam Hussein, the Shia leadership has treated Sunni Arabs like
second-class citizens and has equated its numerical majority with a licence to monopolise power.Iraq's future
depends on the willingness of the dominant social classes to rise up to the historical challenge and prioritise the
national interest over the parochial.If history is a guide, the ruling elite might once again fail the Iraq people
with catastrophic repercussions for the war-torn country and the regional and international system.

Fawaz A Gerges holds the Emirates Chair in Contemporary Middle Eastern Studies at the London School of
Economics and Political Science. He is author of several books, including The New Middle East: Social Protest
And Revolution In The Arab World.

Ghana: Farmer Applauds Govt for Banning Rice Importation



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16 JUNE 2014

Alhaji Suhiyini Ziblim, a Ghanaian rice farmer and seller on Sunday said government's ban on rice importation
through the borders of the Ivory Coast has given a boost to local rice production in the country.He said: "Since
October last year when the ban was imposed on the importation of rice from la Cote d'Ivoire, local rice
production and sales has risen about 40 percent, a situation that is encouraging to local rice farmers to yield
dividends for their year-long toil.
"Alhaji Ziblim who was speaking in an interview with the Ghana News Agency in Accra, said the ban on the
importation had also curbed the perennial smuggling of the commodity into the country as some people took
advantage of the practice to smuggle large tons thereby selling it cheaper to stifle the initiative of local
farmers.In October last year, government through the Ministry of Trade and Industry banned the inland
importation of rice through the West African borders, especially through the Ivory Coast, because the rice from
those countries was comparatively cheaper thereby rendering the local rice farmers redundant.
As a result, the consumption of local rice had risen about 40 percent according to the farmers in the last seven
months, an indication that such figures could be doubled in years to come to give the farmers and local sellers
the benefits of their hard work.Alhaji Ziblim wondered why this ban was not imposed so many years back,
adding "I am sure if these measures were taken long time back, the local rice industry would have grown to feed
all of us in this country and to feed other external markets."He appealed to the Ministry of Trade and Industry to
also impose such bans on other commodities in line with government's policy to reduce the importation of rice,
tomatoes, oil, onions and other commodities to give a lifeline to farmers in the country to prove their worth.
"The ban I believe will also drastically check smuggling as the government was denied millions of cedis as a
result of smuggling and tax evasion," Alhaji Ziblim added.He, however, called on colleague farmers and Millers
to ensure good processing practices and good packaging that would sustain the appetite of consumers to increase
their demand for local rice and other commodities.
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