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The Bangladesh Rice Research Institute (BRRI) has developed a new zinc-enriched rice variety
BRRI Dhan72, which is also an early maturing and high yielding variety, according to local
sources.
BRRI Dhan72 is the second zinc-enriched Aman variety developed by the BRRI. The first one,
BRRI Dhan 62 was developed in August 2013 as the world's first biologically fortified (biofortified) high-yielding zinc variety.
The National Seed Board released the new rice breed on July 12, 2015 and the seeds will be
made available for farmers for cultivation in the next Aman season (June - November 2016).
Local sources noted that BRRI Dhan72 provides an yield of around 5.7 tons per hectares
compared to around 4.5 tons per hectare provided by its predecessor BRRI Dhan62. They also
noted that the newer variety is nutritionally richer than BRRI Dhan62. It reportedly contains 22.8
milligram of zinc per kilogram compared to around 19.8 milligram per kilogram of BRRI
Dhan62. The new variety also matures in 125 days.
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Bio-fortification is a process used to increase nutritional value of crops, and it can be done
through conventional selective breeding or genetic engineering. It is understood that the new rice
variety has been bio-fortified through conventional selective breeding.
The BRRI Director General told local sources that zinc is an important nutrient and is vital for
children's natural growth and immune system. He noted that though it is found in a wide variety
of fruits and vegetables, most of the Bangladeshis cannot affor them. He therefore urged the
government to encourage to increase cultivation of the new rice variety. He added that of all
Aman rice varieties developed so far, BR11 is most popular among farmers. However, given the
benefits of BRRI Dhan72 over BR11, farmers must be encouraged to switch to BRRI dhan72.
The research related to the development of BRRI Dhan72 has been funded by the Bill and
Melinda Gates Foundation.
USDA estimates Bangladesh to produce around 35 million tons of milled rice (around 52.51
million tons, basis paddy) in MY 2015-16 (May - April), up about 1% from an estimated 34.5
million tons (around 51.76 million tons, basis paddy) in MY 2014-15. It estimates Bangladesh to
import around 1.1 million tons of rice in 2015, up about 45% from an estimated 751,000 tons in
2014.
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Chicago rough rice futures for Sep delivery settled 8.5 cents per cwt (about $2 per ton) higher at
$11.540 per cwt (about $254 per ton). The other grains finished the day higher; Soybeans closed
about 1.2% higher at $9.5325 per bushel; wheat finished about 1.7% higher at $5.0200 per
bushel, and corn finished the day about 1.2% higher at $3.8325 per bushel.
U.S. stocks traded in a range on Wednesday as a renewed decline in oil and some disappointing
earnings weighed on investor sentiment, amid data and mixed comments from Fed speakers on
the timing of a rate hike. Stocks gave back early gains in midday trade as oil reversed to trade
more than 1% lower as investors remained concerned about oversupply. Energy was one of two
lagging sectors in the S&P 500. In economic news, the ADP report came in at 185,000, below
expectations for 215,000 private-sector payrolls.
The July trade report posted a deficit of $43.84 billion. The Dow Jones Industrial Average traded
down 19 points, or 0.11%, at 17,532. The S&P 500 traded up 5 points, or 0.26%, at 2,098, with
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information technology leading eight sectors higher and energy and consumer discretionary the
only laggards. Consumer staples hit an all-time high. The Nasdaq traded up 33 points, or 0.65%,
at 5,138. Gold is trading about 0.5% lower, crude oil is seen trading about 1.3% lower, and the
U.S. dollar is seen trading nearly unchagned at about 1:00pm Chicago time.
Tuesday, there were 2,766 contracts traded, up from 1,100 contracts traded on Monday. Open interest
the number of contracts outstanding on Tuesday increased by 471 contracts to 9,418
The government of Thailand is expecting the upcoming and fifth rice auction on August 11
would attract high interest from traders as the current demand for white and jasmine rice are high
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during the harvest season, Bloomberg quoted the Deputy Director General of the Foreign Trade
Department (FTD).
The Commerce Ministry has offered to auction about 668,000 tons of stockpiled rice, comprising
11 types of rice, on August 11.
The FTD official noted that prices may not be impacted due to the auction as demand for Thai
rice in high in the international markets amid concerns of a low production in India due to a dry
spell as well as floods in Myanmar. However, resumption of rains in some areas have eased the
drought problem and prices may fall to some extent, she said.
Currently, export prices of Thai 5% rice are at around $365 per ton and those of Thai jasmine
rice are at around $865 per ton.
The government still has about 15.11 million tons of rice in its stockpile.
Chicago rough rice futures for Sep delivery are currently seen trading 8 cents per cwt (about $2
per ton) higher at $11.535 per cwt (about $254 per ton) during early floor trading in
Chicago. The other grains are seen trading higher this morning; soybeans are currently seen
trading about 1.1% higher, wheat is listed about 0.8% higher and corn is currently noted about
0.7% higher.
U.S. stocks traded higher on Wednesday as investors digested economic data and mixed
comments from Fed speakers on the timing of a rate hike. In economic news, the ADP report
came in at 185,000, below expectations for 215,000 private-sector payrolls. Earlier, futures
fluctuated ahead of the ADP payroll data, which is not seen as an exact preview for Friday's jobs
report but it can give directional hints, and the market watches it for any big surprises.
Meanwhile, economists forecast 223,000 nonfarm payrolls in the government's employment
report Friday, and that is one of the final key pieces of data the Fed will review before it
September meeting.
Overnight, markets digested hawkish comments from FOMC voting member and Atlanta Fed
President Dennis Lockhart who spoke to The Wall Street Journal. Lockhart said the economy is
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ready for an increase in short term rates and it would have to deteriorate significantly for it to
persuade him not to move. The Dow Jones Industrial Average traded up 46 points, or 0.26%, at
17,595. The S&P 500 traded up 12 points, or 0.55%, at 2,104, with energy leading nine sectors
higher and consumer discretionary the only declining sector. The Nasdaq traded up 30 points, or
0.60%, at 5,136. Gold is currently trading about 0.1% lower, crude oil is seen trading about 1.6%
higher, and the U.S. dollar is currently trading about 0.2% lower at 9:00am Chicago time.
South Korea's state run Agro Fisheries & Food Trade Corporation (KAFTC) has purchased 11,000 tons of
non-glutinous brewers milled rice of Vietnamese origin at around $384.40 per ton for delivery by
November 15, 2015, according to a statement on its website.
KAFTC originally sought to purchase about 41,000 tons of non-glutinous rice via five international
tenders for which the bidding took place on July 31, 2015. The agency announced results for four
tenders on the same day and announced results for the remaining 11,000 tons today after sample tests.
Kuwait will help support rice production in Chad with a loan of KD 4 million (around $13.6
million), according to local sources.
The Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement with
the government of Chad to help fund rice production in Chari-Logone perennial rice system.
KFAED's Deputy Director and Chad's Minister of Planning and International Cooperation signed
the loan agreement.
The KFAED officials told in a press statement that the fund aims to provide sustainable water
sources to irrigate 400 acres (around 160 hectares), increase farmers incomes as well as promote
food security in the country.
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According to USDA, Chad produces around 110,000 tons of milled rice and imports around
30,000 tons to meet an annual consumption demand of around 144,000 tons.