Upload
daily-rice-news-letter
View
216
Download
1
Tags:
Embed Size (px)
DESCRIPTION
Daily Rice Global Rice e-Newsletter shared by Riceplus Magazine Riceplus Magazine shares daily International RICE News for global Rice Community. We publish daily two newsletters namely Global Rice News & ORYZA EXCLUSIVE News for readers .You can share any development news with us for Global readers. Dear all guests/Commentators/Researchers/Experts ,You are humbly requested to share One/Two pages write up with Riceplus Magazine . For more information visit (www.ricepluss.com + http://publishpk.net/index.php/riceplus). Share /contribute your rice and agriculture related research write up with Riceplus Magazine to [email protected] , [email protected] For Advertisement & Specs [email protected]
Citation preview
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine
Page 1
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
RI, Pakistan to boost bilateral trade
The Jakarta Post, Jakarta | Business | Tue, February 10 2015, 3:50 PM
Business News
Indonesia aims to boost its trade with Pakistan in the future as both countries continue to enjoy
the benefits of such activity.Indonesia recorded a US$1.8 billion surplus in its bilateral non oil
Daily Global Rice E-Newsletter
February 10 , 2015 V o l u m e 5, Issue I
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine
Page 2
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
and gas trade with Pakistan during the January to November 2014 period.The Trade Ministry‘s
national export development director general, Nus Nuzulia Ishak, said she was optimistic the
trade between Jakarta and Islamabad would continue growing.
―This collaboration will create more opportunities for our trade and investment activities in
Pakistan,‖ Nus said in at her office in Jakarta on Tuesday, as quoted by kontan.co.id, after a
meeting with Karachi Chamber of Commerce and Industry (KCCI) senior vice president Ibrahim
Kusumbi who is also the Petrogulf Polymer DMCC CEO.As well as the KCCI, she said the Rice
Exporters Association of Pakistan (REAP) had also expressed its interest in working with
Indonesia.In addition, she said that the Karachi delegations invited Indonesia to join their ―My
Karachi-Oasis of Harmony‖ exhibition which would run from Apr. 10 to 12 this year. (nfo)(+++)
Source with thanks:http://www.thejakartapost.com/news/2015/02/10/ri-pakistan-boost-bilateral-
trade.html#sthash.HQ1IyyIn.dpufhttp://www.thejakartapost.com/news/2015/02/10/ri-pakistan-boost-bilateral-trade.html
Pakistan, Afghanistan seek to expand trade Pakistani businesses have much to gain by investing in Afghanistan, officials say.
By Zia Ur Rehman
2015-02-09
KARACHI – Government officials and traders from Pakistan and Afghanistan are working to
expand trade and investment in each other's country.
Afghan government officials and Pakistani business leaders attend a conference in Karachi
January 22. Government officials and traders from Pakistan and Afghanistan have been working
to explore ways to expand trade. [Zia Ur Rehman]
Afghanistan Ambassador to Pakistan Janan Mosazai
visited Karachi to confer with leaders of various
associations of commerce and industry January 21 – 24.
He is optimistic about the prospect of boosting trade and
investment in both countries."The new unity government
of Afghanistan … has shown great interest in increasing
bilateral trade with Pakistan," Mosazai told Central Asia
Online during his Karachi visit.The Pakistani business
community's response was very satisfactory and it has
shown great interest in investing in Afghanistan, he
added.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine
Page 3
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
Kabul offers incentives to Pakistani traders
Officials in Kabul are doing the best they can to persuade Pakistani business leaders to
invest."Already, there is co-operation between both governments on trade and transit−trade,"
Mosazai said. "But now we have mainly focused on investment."Mosazai offered Pakistani
investors the ability to establish their industrial units in Afghanistan's special economic zones,
especially in northern Afghanistan, which would help them penetrate Afghan as well as Central
Asian markets.
"We are ready to offer land, low taxes, full security, cheap electricity, water and other utilities to
Pakistan's business community in special economic zones," Mosazai said, adding that
Afghanistan's doors were open to Pakistani traders seeking to invest and enhance trade with their
counterparts in Afghanistan.Mosazai visited the Karachi Chamber of Commerce and Industry
(KCCI) and the Pakistan Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) to
meet their leaders.
Pakistani traders are interested, Majyd Aziz, a former KCCI president, told Central Asia
Online."The business communities of the two countries can undertake joint ventures in
agriculture, textile, construction, cash crops after their processing and other important sectors of
the economy," he said, adding that the mining sector commands the greatest interest. Pakistani
rice exporters could benefit by selling to Afghanistan as well as to Central Asia, he said.
Education is another sector where the business community can take advantage. A number of
Afghan students have been studying at various Pakistani academic institutions."Afghan students
are coming to Pakistan to obtain a professional education, especially in information technology,
medicine, nursing, business and engineering, on the Pakistani prime minister's scholarship
programme," Mosazai said.
Pakistani traders visited Kabul
Pakistani businessmen did not take long to follow up on the invitation to visit Afghanistan. A
five-member PAJCCI delegation January 31 met President Ashraf Ghani in Kabul to further
discuss the matter. The conference with Ghani was fruitful and several issues, including the
smuggling of goods, came up for discussion, KCCI President Iftikhar Ahmed Vohra, who led the
delegation, said."Ghani assured us that the Afghan government would take the smuggling of
goods seriously," he said, adding that Afghanistan was determined to facilitate domestic and
international investment.
"We want terrorism, poverty and anarchy eliminated so that the two countries could live in
peace," Vohra said, adding that the PAJCCI was prepared to extend its contributions in this
regard.Increased economic ties are already in the works. Both countries have vowed to expand
annual bilateral trade from US $2.5 billion (Rs. 252.9 billion) to US $5 billion (Rs. 505.8 billion)
in two to three years, Zahoor Ali Khan, a commerce analyst based in Islamabad, said."Highways,
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine
Page 4
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
railway networks and air linkage between the two countries also were discussed in recent
meetings between officials of both countries," Khan told Central Asia Online.
Source with
thanks:http://centralasiaonline.com/en_GB/articles/caii/features/pakistan/main/2015/02/09/feature-01
JIPM offers rice growers a new resource against
the rice water weevil Feb 09, 2015
The rice water weevil, Lissorhoptrus oryzophilus, is the most harmful insect pest of rice in the
United States, causing yield losses of up to 25%. Adults inflict damage by consuming leaf tissue,
and the larvae feed on the roots of rice plants. A native of the southeastern U.S., the rice water
weevil invaded Japan in 1976, Korea in 1980, China in 1988, and Italy in 2004.Luckily, rice
growers now have a new resource for controlling it. An open-access article appearing in
the Journal of Integrated Pest Management discusses the rice water weevil's life history and
invasion biology, as well as management strategies and future directions of research.
Authors Mohammad-Amir Aghaee and Larry D. Godfrey, both from the University of
California, Davis, tell the story of the weevil since it was first identified as a pest in 1881 by C.
V. Riley and L. O. Howard. They then discuss reasons why it has been able to spread so rapidly -
- up to 36 kilometers per year in some cases -- which is partly because of its ability to reproduce
asexually."This invasive ability is aided by a particular and peculiar aspect of this weevil's
biology, the fact that a small percentage of the population in its native range reproduces by
parthenogenesis," they wrote.
The authors also discuss methods of monitoring and sampling -- including the use of aquatic
barrier traps -- as well as management options, including cultural control methods such as
draining fields, delayed planting, winter flooding, and nutrient augmentation. They also suggest
that insect-resistant transgenic varieties, such as a newly-developed Bt rice plant transformed
with the Cry3A gene, might be another management option if approved for cultivation.Microbial
control options using the entomopathogenic fungus Beauveria bassiana and the soil
bacterium Bacillus thuringiensis are also discussed, as are other management options which may
be available in the future.
###
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine
Page 5
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
The full article, "A Century of Rice Water Weevil (Coleoptera: Curculionidae): A History of
Research and Management With an Emphasis on the United States," is available
at http://dx.doi.org/10.1603/IPM14011.
The Journal of Integrated Pest Management is an open-access, peer-reviewed, extension journal
covering the field of integrated pest management. The journal is multi-disciplinary in scope,
publishing articles in all pest management disciplines, including entomology, nematology, plant
pathology, weed science, and other subject areas. The intended readership for the journal is any
professional who is engaged in any aspect of integrated pest management, including, but not
limited to, crop producers, individuals working in crop protection, retailers, manufacturers and
suppliers of pest management products, educators, and pest control operators.
JIPM is published by the Entomological Society of America, the
largest organization in the world serving the professional and
scientific needs of entomologists and people in related
disciplines. Founded in 1889, ESA today has nearly 7,000
members affiliated with educational institutions, health
agencies, private industry, and government. Members are
researchers, teachers, extension service personnel,
administrators, marketing representatives, research technicians, consultants, students, and
hobbyists. For more information, visit http://www.entsoc.org.
Disclaimer: AAAS and EurekAlert! are not responsible for the accuracy of news releases posted
to EurekAlert! by contributing institutions or for the use of any information through the
EurekAlert system.
Source with thanks:http://www.eurekalert.org/pub_releases/2015-02/esoa-jor020915.php
FSG Sues Government Over GM Rice Feb 10, 2015
Food Sovereignty Ghana has filed a writ of summons against the
National Biosafety Committee NBC and the Ministry of Food and
Agriculture MoFA, with an application for an interim injunction to
restrain the recalcitrant defendants from any release and
commercialization of genetically modified cowpeas and rice until the
provisions of the Biosafety Act are expressly and fully obeyed. We
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine
Page 6
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
are not only calling for an injunction on the commercialisation of GM rice and Bt cowpeas, but on all GM
crops until the National Biosafety Authority is in place.
Food Sovereignty Ghana (FSG)
We are happy to announce that Food Sovereignty Ghana has filed a writ of summons against the National
Biosafety Committee NBC and the Ministry of Food and Agriculture MoFA, with an application for an
interim injunction to restrain the recalcitrant defendants from any release and commercialization of
genetically modified cowpeas and rice until the provisions of the Biosafety Act are expressly and fully
obeyed. We are not only calling for an injunction on the commercialisation of GM rice and Bt cowpeas,
but on all GM crops until the National Biosafety Authority is in place.We have taken this action as a
result of the fact that Ghanaians are being constantly bombarded with news items containing false claims
that the attempts to impose GM rice and beans or our precious ―waakye‖, or the famous fried plantain and
beans, alias ―red red‖, are being done in accordance with the law!
We maintain that this is certainly and evidently not the case. Our case is very simple. According to
Section 13 of the Biosafety Act, 2011, Act 831, on the ―The application to import or place on the market‖,
only the National Biosafety Authority has such a power to authorize the commercial release of GM foods
in Ghana. The law says:
―13. ( 1) A person shall not, without the prior written approval of the Authority, import or place on the
market a genetically modified organism.
(2) An application under subsection (1) shall include
(a) The information set out in the Third Schedule
(b) a risk assessment as set out in the Third Schedule, and
(c) any other information that the applicant may consider necessary for an assessment of the potential
risks and benefits of the requested activity.‖
[See: Ghana Biosafety Act 831 31 Dec 2011.pdf]
Now, we all know that the National Biosafety Authority does not even exist, because it is yet to be
inaugurated. No appointments have been made and approved even for it, so under what authority are
those undertaking these dangerous experiments doing so, and who is supervising them? Apparently, even
the National Biosafety Committee has no power of its own apart from the authority of the Minister for
Industries, Science and Technology, MIST.
Ghana is a signatory to the Cartagena Protocol on Biosafety. Article 23 of the Protocol requires Parties,
on their own and in cooperation with other States and international bodies, to promote and facilitate
public awareness and education, including access to information, regarding the safe transfer, handling and
use of living modified organisms (LMOs). It also requires Parties to consult the public in the decision-
making process, to make public the final decision taken and to inform public about the means of access to
the Biosafety Clearing-House.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine
Page 7
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
For example, currently in Malawi, the Lilongwe University of Agriculture and Natural Resources,
(LUANAR) applied for confined field trials of Bt cowpea, the same crop that Savannah Research
Institute, (SARI) has been investigating for years. Whilst a copy of the LUANAR is readily available,
there is still no trace of the SARI application even weeks after asking specifically for it! Here is a copy of
the LUANAR application: Bunda College Application for Confined Field Trial (CFT) of Bt-Cowpea |
Alliance for Food Sovereignty in Africa AFSA http://afsafrica.org/bunda-college-application-for-
confined-field-trial-cft-of-bt-cowpea/
Meanwhile, Section 11 (1) of the Act states very clearly that: ―A person shall not conduct a contained or
confined use activity involving genetically modified organisms or their development without the written
approval of the Authority‖. The law further stipulates in Section 42 (2) that ―The Authority shall publish
notices of final decisions concerning applications made under this Act in the Gazette and electronic and
print media‖, in order to ensure public awareness and participation. This is a far cry from the secrecy
surrounding the experiments currently going on in Ghana!
We maintain that none of these provisions are being respected. It even appears that the so-called National
Biosafety Committee is being run from the office of the Minister of Industries, Science and Technology.
We were extremely surprised to read from the reaction of Mr. Eric Okoree, Secretary to the National
Biosafety Committee, stating inter alia, that ―I have printed the request and submitted it to the Minister‘s
Secretariat for his information as per the Civil Service Procedure . He will minute it down to the
Secretariat for action to be taken.‖!
Up till now, several weeks after calling for copies of the documents on risk assessment and risk
management and benefits supporting the application by the Savanna Agricultural research Institute
(SARI), for the approval of field trials of Bt cow peas submitted for approval, no such document has been
forth-coming. Meanwhile this is the sort of information that must be voluntarily be made available to
members of the Ghanaian public in accordance with the law.
We find the situation of lawlessness surrounding the imposition of GMOs on Ghanaians most alarming as
bisosafety is a matter of life and death. The most fraudulent aspect of this is the fact that in spite of the
flagrant infringement of the Biosafety Act, the scientists behind these dangerous experiments keep
informing the public that everything is being done in accordance with the law.
For example, in Ghanaian scientists edge up with GM rice trials
http://www.modernghana.com/news/594252/1/ghanaian-scientists-edge-up-with-gm-rice-trials.html,
published on 24 January 2015, they claim that ―The confined field trials started in April 2013 at
Nobewam in the Ashanti region, after receiving approval from the National Biosafety Committee
(NBC).‖
Principal Investigator, Dr. Maxwell Asante, further informed the press that ―If the lead event is
confirmed, we will request for permission from the NBC to allow it to be grown by farmers in Ghana
after testing. The genes that make the GM rice nitrogen-use efficient will then be transferred to other
varieties in Ghana through conventional breeding methods,‖What is most worrisome is the fact these
these perpetrators are aware of the fact that ―There is strong opposition to the introduction of GM crops in
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine
Page 8
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
Ghana‘s food production chain.‖Alarmingly, we also read, ―Biosafety advocate, Albert Aubyn, however
says there is no cause for worry with the current trials, noting that field activities are strictly in conformity
with regulative measures‖.
The story by Kofi Adu Domfeh ends with the assurances that ―Three confined field trials of rice, cowpea
and cotton are currently being evaluated in Ghana in compliance with the Biosafety Act 2011, Act 831,
which regulates GMOs‖.Meanwhile, according to the Section 13 of the Biosafety Act, 2011, Act 831, on
the ―The application to import or place on the market‖, it is the non-existent National Biosafety Authority
which has the power to authorise the commercialisation of GM foods in the country, and not the National
Biosafety Committee.We call on all Ghanaians who care about the safety and the quality of food they are
putting into their bodies, to show keen interest in this matter and provide us with the moral and material
support we need to prosecute this case which is set to be a David versus Goliath struggle.
For Life, the Environment and Social Justice!
George Tetteh Wayo, Esq.
Spokesperson on Legal Affairs
Communications Directorate, FSG
Source with thanks:http://www.spyghana.com/fsg-sues-government-gm-rice/
Africa: On-Farm System Turns Rice Plants Into Biofuel and
Fodder
Tagged:AfricaAsia, Australia, and AfricaBusinessEnergyExternal RelationsInnovationScience
By Aamna Mohdin
A technology to create biofuel and animal feed at the same time without any off-site processing has been
developed by Japanese researchers.The solid-state fermentation (SSF) system involves wrapping rice
plants grown to feed livestock along with yeast, enzymes and bacteria into a bale covered with a plastic
film, and capturing the ethanol produced by the resulting fermentation.This technology builds on
traditional processes used by farmers around the world to create silage to feed livestock such as cattle,
goats and sheep, according to a report published on 30 January in the journal Biotechnology for Biofuels.
"Our SSF system does not require special equipment and large facilities," says Mitsuo Horita, a
researcher at the National Institute for Agro-Environmental Sciences who is the project's lead researcher.
"Harvested materials are immediately packed into a round bale in the field, which is similar to a
conventional silo used for silage fermentation. No extra energy needs to be supplied to the system."Horita
says the system produces high yields of ethanol and silage, without any plant waste. By processing plants
destined for animal feed, it also avoids competing with food crops, he says.As a result, the technology
could help address criticism of biofuels, which at present are mostly created from crops such as rice and
maize. These first-generation biofuels have come under fire for driving up food prices as their production
competes with the farming of crops to feed people.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine
Page 9
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
Conventional biofuel manufacture also requires energy for transport and to run industrial processing
plants.But Jahi Chappell, director of agriculture policy at the Institute for Agriculture and Trade Policy,
an NGO that promotes sustainable farming, says the SSF system may fail to solve the biofuels
conundrum."Competition that lowers food security could still happen if this process led to conversion of
lands suitable for other agricultural activities into land used for biofuel and feed production," he says.
According to Horita, the biggest challenge to implementing SSF on a larger scale is the cost of rolling out
the technology. Researchers would have to present the advantages of using the system to farmers, who
would also need access to power stations that can buy and use the resulting ethanol, he says.But Siwa
Msangi, a researcher at the US-based International Food Policy Research Institute, says the technology is
a welcome addition to global biofuel options, despite concerns about its shortcomings."We shouldn't stop
seeking ways to make better biofuels as we will need to add them to the portfolio of renewable energy
sources that are necessary to offset future climate change," he says.
Source with thanks:http://allafrica.com/stories/201502101076.html
Specifications of rice imports for this year to be set soon,
NFA says
TACLOBAN CITY -- The National Food Authority (NFA) Council will finalize on Friday the
specifications of rice to be imported this year.
Workers inside the National Food Authority rice warehouse in Visayas Ave. Quezon City -- Aileen
Camille B. Dimatatac
Presidential Assistant for Food Security and Agricultural
Modernization Francis N. Pangilinan said the interagency
council will convene on Feb. 13 to discuss the importation
details.―We are still collating all data, reviewing the last
harvest volume and checking the supply. If at all, stocks that
will be imported are only for buffer stocks,‖ said Mr.
Pangilinan, who is also NFA Council chairman.He declined to
give figures on the volume of rice to be imported but noted
that there is an existing standby authority to procure half-a-million metric tons (MT) of milled rice from
the usual sources in Vietnam, Thailand and Cambodia.
Mr. Pangilinan visited Tacloban City on Monday to check stocks of NFA rice in the local market and lead
a task force meeting on the recovery of the coconut industry in the region attended by PCA officials and
local chief executives in Eastern Visayas.Rice importation is necessary to ensure that the country has a
15-day buffer stock for the off-harvest months, Mr. Pangilinan said.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
10
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
NFA Administrator Renan B. Dalisay also declined to give estimates on the volume of importation and
import schedule, citing that speculation may fuel price movements in the world market since the
Philippines is one of the world‘s largest rice importers.―I have no authority to talk about details of the
importation. We just execute. It is hard to speculate because it caused adjustments of world market prices.
We will find out the specifications on Friday,‖ Mr. Dalisay said.
In a previous statement, the grains agency said the government may import between 500,000 metric tons
(MT) and 600,000 MT of milled rice this year.In October 2014, the Philippine government awarded the
supply contract for the importation of 500,000 MT of rice from Vietnam and Thailand.Meanwhile, the
agency is stepping up its local palay (unhusked rice) procurement program.In 2014, the NFA procured an
estimated 1.5 million MT, or 8% of the total 18.97 million MT domestic rice output.The NFA buys clean
and dry palay at P17 per kilogram, lower than the P18.90-per-kilogram farm-gate price of palay being
offered by commercial rice traders.
The government also provides additional incentives such as graduated delivery fee of up to a maximum of
P0.50 per kilogram, drying incentive fee of P0.20 per kilogram, and Cooperative Development Incentive
Fund assistance of P0.30 per kilogram.―While the palay buying price of NFA rice cannot be lowered,
other incentives are being studied such as the provision of health insurance to farmers that would conform
to NFA buying standards,‖ Mr. Dalisay added.
Source with thanks:http://www.bworldonline.com/content.php?section=Nation&title=specifications-of-
rice-imports-for-this-year-to-be-set-soon-nfa-says&id=102507
China to help build rice mills
Myanmar Eleven February 10, 2015 7:08 pm
Myanmar rice producers hope to step up rice exports by collaborating with China to build modernised rice
mills.The Myanmar Rice Miller Co, founded under the Millers Association (MRMA), recently signed a
contract with China's CAMC Engineering Co (CAMCE) to build international-grade rice mills in
Nyaungdone, Ayeyawady region."Under the agreement, both sides will cooperate on the construction of
the international-standard rice mills. Afterwards, we will carry out rice grinding and then export quality
rice to China as well as to other international markets," said Nay Lin Zin, joint secretary of the MRMA.
Construction will start this year and is due to be completed by 2017."We have bought the land plots for
the first rice mill in Sarmalauk in Nyaungdone, and we will build two 200-tonne rice mills in the initial
phase," Nay Lin Zin added.Under a deal between the Myanmar Rice Federation (MRF) and the Chinese
firm COFCO, China will purchase 100,000 tonnes of rice at market price after the completion of the
work. The MRF will coordinate the direct sale of rice with COFCO, with both sides preparing the
grinding and export of the rice types and qualities favoured in China.
The plan is in line with one of the recommendations by the World Bank that Myanmar should modernise
its rice mills to increase private stocks and trigger productivity and quality improvement at the farm
level.Although Myanmar's rice exports amounted to 1.4 million tonnes, rice exports to Southeast Asia -
the Philippines, Indonesia and Malaysia - are still modest, according to MRF.China remains Myanmar's
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
11
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
major rice buyer, buying nearly 1 million tonnes this fiscal year alone."We have planned to extend to
Europe.
We will display rice and agricultural products, including fishery, livestock and forest produce in trade
fairs in Italy," said Ye Min Aung, the general secretary of MRF.The MRF has cooperated with other
agribusiness owners to improve agricultural crops and equipment in order to promote the country's
exports. With the implementation of these plans, officials expect rice exports to increase in the coming
years.
Source with thanks:http://www.nationmultimedia.com/aec/China-to-help-build-rice-mills-30253791.html
Malaysia; Where has the S$113.2 rice subsidy gone?
Sin Chew Daily/Asia News NetworkWednesday, Feb 11, 2015
MALAYSIA - Kedah Regency Council deputy chairman and two rice millers have lodged a
report to the Malaysian Anti-Corruption Commission (MACC) against Agriculture and Agro-
Based Industry Minister Datuk Seri Ismail Sabri Yaakob over suspected power abuse in handling
rice subsidy, exposing drawbacks in the RM500 million subsidy for Super Tempatan ST15 per
cent broken rice. Poor people are unable to purchase subsidied rice, due to allegedly pocketing
problems involving senior officials in the government.
However, Ismail Sabri, who was severely criticised recently for harming racial harmony due to
his boycott call, has distanced himself from the allegation, claiming that he has no supreme
decision-making power in the government's ST15 per cent national rice subsidy programme. He
said that the supply of the subsidised rice is handled by the commission led by the Ministry's
Secretary-General. As the Agriculture and Agro-Based Industry Minister, how could Ismail
Sabri pass the buck just like that? The accusation does not seem to be baseless as it was openly
pointed out by the Kedah Regency Council deputy chairman, who is a rice miller himself.
It was reported that the Kedah Regency Council deputy chairman has his rice supply quota cut
from 1,000 tons to 100 tons as he refused bribery while the supply of other rice millers were
completely cut off. It is believed that many other millers are facing the same problem, showing
that corruption problems in the rice subsidy programme has become increasingly serious.
The government implements the ST15 per cent national rice subsidy programme and subsidies
60,000 tons of rice each month, with RM750 subsidy for each ton. However, rice millers receive
only RM450 for each ton while the other RM300 was said to have passed to specific officials in
the Ministry. If such a saying is true, it shows the existence of corruption practices and who are
the so-called specific officials? The MACC must investigate where has the RM300 gone.The
purpose of the government to spend RM500 million for rice subsidy each year is to allow the
poor buy cheap rice, helping them to ease financial burden.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
12
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
The intention is good, but has unfortunately been abused by corrupt officials and unscrupulous
rice millers, who turn ST15 per cent broken rice into ST5 per cent rice to gain profits from it,
causing ST15 per cent rice can no longer be seen in the market, and the poor still need to buy
expensive rice. The government's subsidy has only benefited the senior officials. The Agriculture
and Agro-Based Industry Ministry has failed to properly implement the rice subsidy programme
and many problems have derived from it.
The Minister's capability should be questioned.To solve the problem of abusing rice subsidy, the
government must make a thorough reform, such as revoking the quota system for Bumiputera
rice millers. The Ministry allegedly allows only Malay rice millers to enjoy the subsidy while
shutting the door to Chinese rice millers, rather allowing Malay millers to store up to 6,000 tons
of rice and Chinese rice millers to face shortage of supply. Unfair policy is also a factor causing
corruption and abuse of power.
Since Kedah Regency Council deputy chairman has lodged a report against the Agriculture and
Agro-Based Industry Minister and officials, we hope that the MACC can launch a thorough
investigation on involving wholesalers, millers and officials in the ministry to lift the doubts of
the people, as well as allow the poor to enjoy the rice subsidy. Source with thanks:http://news.asiaone.com/news/malaysia/malaysia-where-has-s1132-rice-subsidy-gone#sthash.fhqvfQ0U.dpuf
Nigeria, Ghana, Others to Benefit From U.S.$3.3 Million
Rice Production Grant
Tagged:AgribusinessFood and AgricultureBusinessGhanaNigeriaWest Africa
By Dele Ogbodo
Abuja — Four African countries-Nigeria, Burkina Faso, Ghana and Tanzania - are to benefit from the
$3.3 million grant provided by Bill and Melinda Gates (BMGF) and the German Development
Cooperation (BMZ), under their Competitive African Rice Initiative (CARI) project.The implementing
institutions of the grant are led by GIZ, Technoserve, the John A. Kufuor (JAK) and Kili Trust (KT).
The project, which will end in 2017 is targeting about 120,000 small scale rice producers, while
secondary beneficiaries are the rural service providers and rice millers. The initiative is geared towards
improving their sourcing capacity of quality supply.Speaking on the establishment of the
Nigeria/ECOWAS Rice Sector Policy and Regulation Advocacy Platform in Abuja, CARI's project
coordinator, Mr. Stefan Kachelriess-Matthess, stated that the main instrument for the implementation of
CARI across the four countries on the matching grant will be on the basis of Public Private Partnership
(PPP). Kachel-Matthess said: "The projects are implemented at two levels of support, we support up to 40
percent of implementation cost and our Nigerian partners in the private sector have to provide 60 per cent
of the implementation cost."
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
13
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
In her remarks, the Special Adviser to President Goodluck Jonathan on the New Partnership for Africa's
Development (NEPAD), Mrs. Fidelia Njeze, who was represented by Mrs. Jael Kpatuwak expressed the
hope that the CARI project will address coordination failures, create better linkages among rice value
chain actors, the result which, she said, will lead to increase in the economic returns for all
stakeholders.She said the sector holds the key to getting Nigeria out of poverty as it provides food
security, employment for the teeming population and creating the platform for a diversified economy
towards an industrialisation revolution.
Njeze said: "this focus on rice commodity is most strategic for Nigeria and the West African sub-region
which imports close to 50 percent of rice from foreign countries outside the shores of the African
continent."In the last couple of years, Nigeria spent approximately N1 billion daily on rice importation.
This has led to the export of our jobs and financial resources meant for the transformation of the domestic
rice sector in order to achieve self-sufficiency and exports."According to her, the German Development
Cooperation has been a major partner to NEPAD in the implementation of the Comprehensive Africa
Agriculture Development Programme (CAADP), adding that GIZ had supported the organisation
Nigeria's CAADP country team orientation workshop in 2011.
Also speaking at the event, the ECOWAS Commissioner of Agriculture, Environment and Water
Resources, Dr. Lapodini Marc Atouga, represented by a Director at the Commission, said rice
consumption in the last two years in the sub-region had increased from 7 to 7.7 million tons, pointing out
this clearly shows that production is not matching up with the consumption as it has to depend on
international imports for 40 per cent of its rice supply with Thailand and Vietnam as the leading suppliers
of the commodity to the region.
As a way of achieving its regional Agriculture Investment Programme (RAIP), he said the Commission
went a step further to develop projects and programmes that will increase rice production and productivity
in the region.While commending the various initiatives, he said ECOWAS welcomes the setting up of an
advocacy platform for rice in Nigeria.He said: "I will like to commend GIZ/CARI foor this timely
initiative. The need to have a permanent and functional platform to promote rice development cannot be
overemphasised."With the current interventions on rice in the West Africa region we must all endeavour
to build sustainable rice value chains with access to finance, technology and knowledge to move the
region from a rice deficit to a rice surplus one."
Source with thanks:http://allafrica.com/stories/201502101023.html
World Rice Production 2014/2015
February 2015
This month the United States Department of Agriculture (USDA) estimates that the World Rice
Production 2014/2015 will be 474.56 million metric tons, around 0.91 million tons less than the
previous month's projection.
Rice Production last year (*) was 477.08 million tons. This year's 474.56 estimated million tons
could represent a decrease of 2.52 million tons or a 0.53% in rice production around the globe.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
14
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
Rice Production by Country
(Values in Metric Tons)
China: 144,500,000
India: 102,000,000
Others: 38,768,000
Indonesia: 36,500,000
Bangladesh: 34,600,000
Vietnam: 28,250,000
Thailand: 19,500,000
Philippines: 12,200,000
Burma: 12,150,000
Brazil: 8,300,000
Japan: 7,679,000
United States: 7,068,000
Pakistan: 6,500,000
Cambodia: 4,700,000
Egypt: 4,500,000
Korea, South: 4,241,000
Nepal: 3,100,000
Source with thanks:https://www.worldriceproduction.com/?Referer=Newsletter
UK: Birds Eye Serves Up New Pan-Cooked Meals Range
Birds Eye has launched a new range of stir-cooked meals called ‗Stir Your Senses‘, which it says is
inspired by cuisines from around the world. The company claims the all-in-one meals will offer
consumers a ―completely new, multi-sensorial cooking experience‖, and will provide all the pleasure of
quality time in the kitchen without the fuss of preparation‖. All the meals can be prepared by simply
stirring the ingredients in a pan, in less than ten minutes. The range includes eight chef-inspired dishes,
such as Tagliatelle con Porcini, and chilli & lime infused Thai Chicken with Basmati Rice.
The range will retail at an RRP of £2.99. The launch is supported with a £2.5m TV spend, alongside a
sampling campaign, PR, digital and in-store advertising. The first advert is due to go live in April, when
the brand plans for over 3,500 outlets to stock the majority of the range, with two price marked packs
(Tagliatelle con Porcini and South Indian Curry) also available across the convenience sector. Live at
launch, the new range will also feature a ‗Try Me Free‘ message across 1.6 million packs to drive
consumer trial.
NamNews - Tuesday 10th February 2015
Source with thanks:www.Kamcityhome.com
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
15
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
If Apple Made iMilk And Nike Sold Fruit: Designer
Groceries As Art
February 9, 2015
Fruit by Nike is a piece by designer Peddy Mergui in his exhibit "Wheat is Wheat is Wheat,"
next on display in May at Expo Milano 2015. (Courtesy of Peddy Mergui)
By MARIA GODOY, NPR
Just eat it.It's hard to look at these stylish
packages of citrus fruit, bearing Nike's iconic
swoosh, without having the athletic company's
famous slogan "Just do it" immediately come to
mind. And that's precisely the point, says Israel-
based designer Peddy Mergui.
He says packaging tells a story, and can imbue
consumer goods with value and prestige. And he created
the Nike fruit as part of a project that reimagines
everyday foods as designer groceries. The goal, he tells
The Salt, is to explore how packaging manipulates our
perceptions and desires."In my line of work, I was
always asking, 'What is the ethical boundary for designers' ability to influence consumption? Are
we using our 'tools' wisely? This got me on a three-year journey to explore my field [and]
examine the way we think as consumers," he tells us in an email.The result, an exhibit called
"Wheat Is Wheat Is Wheat," borrows the visual branding of luxury brands to disturbingly
alluring effect.Coffee by Cartier
Yogurt containers in Tiffany blue connote a spoonful of privilege. A breakfast of Coffee by
Cartier, Eggs by Versace and Soft Butter by Bulgari feels like the ultimate in decadence.And a
carton of Mergui's iMilk By Apple is undoubtedly sleeker than anything we're used to seeing in
the dairy aisle.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
16
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
It would probably look pretty good in my
refrigerator.Part of the seduction, says Mergui, is that
like many high-end brands, Apple isn't just selling
you products. "It represents a certain lifestyle, a
community," he says. And that goes to the heart of
what Mergui wanted his project to explore: How do
the values associated with a brand affect how we feel
about a ordinary food products done up in fancy
packaging?
MOST POPULAR
"Some will find [the resulting products] playful, ridiculous, exaggerated," he says. "Some may
even feel they belong."Indeed, there is a certain logic to having Nike – a company whose
products are associated with healthy, active lifestyles — peddle fruit. It wouldn't actually be the
first consumer goods purveyor to make the leap into foodstuffs. For example, the outdoor
clothing and gear company Patagonia sells smoked salmon provisions – a move which Mergui
says makes a lot of strategic sense: "They extended their outdoor brand to outdoor foods."Eggs
by Versace
For now, the comestibles Mergui imagines remain in the
realm of fantasy: Flour by Pradatickles the fancy in part
because an essential food product with a luxury label —
and presumably, with a luxury pricetag — seems so
outlandish.And yet, the uncomfortable truth of modern
food shopping is that there is a booming market of luxury
foods.
And while they may not have designer labels, they are certainly steeped with a set of values.
Why else would you pay $7 for a half-gallon glass bottle of local, grass-fed milk? Consumers
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
17
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
aren't just paying for the taste, but the lifestyle and values it embodies."Wheat is Wheat is
Wheat" was a hit when it went on display last April at San Francisco's Museum of Craft and
Design, says the venue's executive director, JoAnn Edwards. The reaction from museum visitors
"was unbelievable," she says — some left the exhibit asking why more daily goods weren't given
a designer gloss.
Excellent packaging, she says, is "becoming more and more something consumers respond
to."Mergui says he got a first-hand lesson on that while he was designing a container of "Chanel
infant formula.""A colleague of mine saw it in my office ... and asked where can she get it," he
says. "She wanted to buy it for her baby. That made me realize the power [these] luxury values
have."Basmati rice by HSBC
"Wheat is Wheat is Wheat" will next go on display in May at Expo Milano 2015.Update
2/10/15: As a reader notes in an email to The Salt, other artists have also used the concept of
designer foods to explore brand obsession and consumption. One of the best-known examples
comes from the influential artist Tom Sachs. Back in 1997, Sachs' Hermes Value Meal gave a
McDonald's meal a makeover in the spirit of the luxury fashion house — a jarring and cheeky
juxtaposition of the high and low end of consumer culture.
Last year, Tyler Shields' "Indulgence" series featured Prada Popcornand Hermes-
labeled milk and cola.And several years ago, the folks at The Cool Hunter pitched a real-life
version of designer fast food. The concept, called McFancy, envisioned a luxe, pop-up version of
McDonald's — with menu items like Gucci french fries and Burberry burgers — to be served at
Fashion Week in various cities.
Source with thanks:http://www.wbur.org/
USA Rice Participates in World's Largest Annual Food &
Hospitality Show
Hartwig Schmidt (far right) shares information about U.S. rice
DUBAI, UAE -- This year marks the 20th edition of Gulfood and USA Rice Federation is on the
show floor to meet with companies conducting business in the Middle East, Turkey, and Africa.
Gulfood attracts importers, manufacturers, distributors, wholesalers, retailers, and government
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
18
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
officials from around the world, making this show a central place for USA Rice to tout the
quality of U.S.-grown rice and network with potential traders on behalf of the industry.
"This event brings together nearly 5,000 exhibitors from
more than 120 countries," said Hartwig
Schmidt, USA Rice regional director,
international market development.
"Gulfood is one of the most coveted
shows for exporters and this year more
than 600 companies were on the exhibit
waiting list; this confirms that our
presence here is invaluable for the U.S. rice industry.
"USA Rice's booth is inside the USA Pavilion, one of the largest national pavilions in the food
section of the show, featuring more than 150 exhibitors. USA Rice displays various types of rice
including long-grain, medium-grain, parboiled, and wild rice to attract show attendees and help
educate those unfamiliar with U.S. rice.
Brochures highlighting U.S. rice facts, recipes, and nutritional information are displayed in both
English and Arabic. Six USA Rice members representing American Commodity Company,
ADM Rice, Farmers' Rice Cooperative, Riceland Foods, and Sun Valley Rice are joining USA
Rice staff and consultants at the booth to meet with existing trade partners and speak with
interested importers."The Middle East is a key emerging market for U.S. rice," said Schmidt.
"Major markets in the region include Saudi Arabia and Jordan where 2014 U.S. rice exports
totalled 101,000 MT and 88,000 MT respectively."
Eszter Somogyi makes the pitch to potential buyers "This trade show is not only a place to
collect more than one hundred potential trade leads for our members, but also a place to meet
with FAS representatives from Africa and the Middle East," said Eszter Somogyi, USA Rice
international program director of marketing. "It is also important to meet up with our existing
trade partners in the region to maintain our relationships."Gulfood remains one of the most
significant international food shows for USA Rice. It is an efficient way to connect potential and
existing customers in the Middle East region to USA Rice members and also supports our goal of
increasing importer loyalty to U.S. rice.
Contact: Katie Maher (703) 236-1453 Source with thanks: USA Rice Federation
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
19
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
Japan Announces Results of 12th Ordinary Import Tender
in FY 2014
Country of
Origin
Variety Number of
Importer
Quantity (MT) Participated
Bidders
Amount of
Bids (MT)
USA Non-glutinous
milled rice
(medium grain)
3 36,000 24 288,000
Thailand Non-glutinous
milled rice
(long grain)
2 14,000 16 112,000
Grand Total 5 50,000 40 400,000
Avg Price for
Successful Bids
JPY 91,998/mt
JPY 99,358/mt
(tax excluded)
(tax included)
Source with thanks: USA Rice Federation
CME Group/Closing Rough Rice Futures
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
20
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
CME Group (Prelim): Closing Rough Rice Futures for February 10
Month Price Net Change
March 2015 $10.235 - $0.200
May 2015 $10.480 - $0.210
July 2015 $10.735 - $0.210
September 2015 $10.770 - $0.185
November 2015 $10.960 - $0.050
January 2016 $11.050 - $0.050
March 2016 $11.050 - $0.050
Source with thanks:USA Rice Federation
WASDE Report Released
WASHINGTON, DC -- Slight revisions are made to the U.S. all
rice and rice-by-class 2014/15 supply and use balance sheets. All
rice imports are increased 1 million cwt to 23 million, all in
combined medium- and short-grain rice. Imports of broken rice
from Australia of about 21,000 tons (milled basis) were reported
in the U.S. Census Bureau's December trade data. The all rice
export forecast is unchanged at 103 million cwt, but the by-class
projections are shifted by increasing long-grain 1 million to 71 million and lowering combined medium-
and short-grain 1 million to 30 million. All rice ending stocks are raised 1 million cwt to nearly 42
million with long-grain stocks lowered 1 million to 28.1 million, and combined medium- and short-grain
stocks raised 2 million to 11.5 million. Stocks of broken rice, not reported by class, are projected at a little
over 2 million cwt.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
21
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
The 2014/15 long-grain season-average price range is narrowed to $11.90 to $12.50 per cwt, up 20 cents
on the low end of the range and down 20 cents on the upper end-the midpoint is unchanged from a month
ago at $12.20 per cwt. The all combined medium- and short-grain season-average price range is
narrowed to $17.90 to $18.70 per cwt, down 10 cents on the low end of the range and a decrease of 30
cents on the high end-the midpoint is lowered 20 cents from last month to $18.30 per cwt. Two
additional combined medium- and short-grain farm prices are introduced this month: a California price
(on an October-September basis) and a price for Other States (on an August-July basis). The California
combined medium- and short-grain price is forecast with a midpoint of $20.00 per cwt, and the midpoint
for the Other States is $15.10.
Global 2014/15 rice supply and use projections are lowered from last month. Global 2013/14 rice
production is forecast at 474.6 million tons, down 900,000 from last month. The largest declines for
Thailand and Cambodia are partially offset by increases for Sri Lanka and Iraq. Thailand's 2014/15 rice
crop is lowered 1 million tons to 19.5 million due to a reduction in dry-season plantings resulting from an
on-going drought and a reduction in irrigation water availability concentrated in the Central Region.
Thailand's 2014/15 crop would be the smallest since 2006/07. Cambodia's crop is lowered 200,000 tons
to 4.7 million due mostly to flooding of the main-season crop. Global consumption is down slightly
from a month ago. World trade in 2014/15 is lowered 400,000 tons due mostly to reductions for Thailand
and Cambodia. Imports are lowered for Iraq. World ending stocks are lowered 800,000 tons to 98.2
million due mostly to a reduction for Thailand, which is partially offset by increases for Pakistan and Sri
Lanka. Thailand's 2014/15 ending stocks are lowered 1.4 million tons to 9.6 million, the lowest since
2011/12. Pakistan's 2014/15 ending stocks are raised 500,000 tons owing to a reduction in the 2013/14
export projection.
Read the full report here.
Hundreds of Chinese get a taste of GM rice
China Daily Tuesday 10 February 2015
Hundreds of people were invited via the Internet to taste genetically modified rice at restaurants
in 23 cities across China on Sunday in a move to further promote GM foods to the
general public.Wu Xingchuan, editor-in-chief of the science website scipark.net, the organizer of
the event, said: ―We are trying to get a message across to those who still doubt the safety of GM
products: We believe that the GM rice is safe, and we are more than willing to eat it.‖According
to the first policy document issued by the Communist Party of China Central Committee in
January, China will strengthen research and manage the safety of GM foods.
The rice variety that was tasted at the restaurants was a genetically modified Bt 63 strain
developed by researchers at Huazhong Agricultural University in Wuhan, Hubei province. The
name indicates that Bacillus thuringiensis is embedded in the plant‘s genetic makeup. It produces
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
22
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
a natural pesticide that protects the plant.The Bt 63 rice, together with another strain, Huahui 1,
received safety certification in January for production for another four years, after the initial
certificates expired in November.That is only the first step in the commercial cultivation of GM
rice.
Another three certificates are required, including a production certificate and business certificate
from the biosafety committee of the Ministry of Agriculture.Chen Xiwen, deputy director of the
Central Rural Work Leading Group, said last week that the fact that the two GM rice varieties
have not been approved for commercial cultivation showed the country‘s cautious attitude
toward GM food.―We want them to test the safety for another four years. In a certain sense, it is
not science that has failed to provide a verdict about their safety. The public media have not
recognized them,‖ he said
Source with thanks:
Source with thanks:http://www.eco-business.com/news/hundreds-chinese-get-taste-gm-
rice/?utm_source=USA+Rice+Daily%2C+February+10%2C+2015&utm_campaign=Friday%2C+December+13%2C+2013&utm
_medium=email
Japan sees 50 percent chance of El Nino re-emerging by
summer
TOKYO Tue Feb 10, 2015 12:06am EST
) - Japan's weather bureau said on Tuesday it sees about a 50 percent chance that an El Nino weather
pattern, linked to heavy rainfall in some regions and drought in others, may re-emerge by summer
after it subsided over spring.The Japan Meteorological Agency forecast said an El Nino, which
emerged last summer for the first time in five years, has been easing.The El Nino weather pattern - a
warming of sea-surface temperatures in the Pacific - can trigger drought in Southeast Asia
and Australia, and floods in South America, hitting production of key foods such as rice, wheat and
sugar.
(Reporting by Osamu Tsukimori; Editing by Richard Pullin)
Source with thanks:http://www.reuters.com/article/2015/02/10/us-weather-elnino-japan-
idUSKBN0LE0BE20150210
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
23
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
S.Korea buys 35,000 T of rice for April-June Tue Feb 10, 2015 2:29am GMT
SEOUL, Feb 10 (Reuters) - South Korea bought a total of 35,000 tonnes of non-glutinous rice
for April to June arrival via tenders closed on Jan. 27, the state-run Korea
Agro-Fisheries & Food Trade said on its website (www.at.or.kr).
Daewoo International Corp won two bids for the Brown Long grain type, and Seomok Trading
Corp won the bid for the Brown Medium. The agency passed on a tender of 5,000 tonnes
because the offers did not meet specification and price standards, the source from the agency
said. The agency declined to comment on whether they would reissue the tender.
Details of the purchases are as follows:
TONNES GRAIN TYPE PRICE(CIP/T) ORIGIN ARRIVAL
15,000 Brown Long $442 Vietnam April 30
15,000 Brown Long $449.60 Vietnam June 30
5,000 Brown Medium $786 U.S. May 31
* Note: CIP stands for Cost and Insurance Paid.
(Reporting By Brian Kim; Editing by Sunil Nair)
Source with thanks:http://af.reuters.com/article/commoditiesNews/idAFL4N0VK1FC20150210
NFA to boost procurement activities By Czeriza Valencia (The Philippine Star) | Updated February 11, 2015 - 12:00am
NFA rice storage File photo
MANILA, Philippines - The National Food Authority (NFA) yesterday announced that it would
intensify palay (unhusked rice) procurement this year as the farmgate prices of unmilled rice
have begun falling to P14 to P16 per kilogram in several areas.NFA administrator Renan Dalisay
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
24
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
said ―massive‖ procurements would be conducted in Iloilo, Palawan, Sultan Kudarat, Antique
and Isabela provinces.
As of the second week of January, the average
farmgate price of palay has been placed at
P18.90 per kilogram, making it more attractive
for farmers to sell their produce to traders.The
NFA buys clean and dry palay at P17 per
kilogram, providing additional incentives such
as graduated delivery fee of up to a maximum
P0.50 per kilogram, drying incentive fee of
P0.20 per kilogram, and Cooperative
Development Incentive Fund assistance of P0.30
per kilogram.The NFA targets to procure 189,845 metric tons (MT) of palay from January to
June this year.As of Feb. 9, the food agency has already bought a total of 89,497 50-kilogram
bags of palay.Business ( Article MRec ), pagematch: 1, sectionmatch: 1
The procurement would be conducted in 413 buying stations nationwide. Mobile procurements
units are also ready to be deployed to remote areas where farmers may find it difficult to
transport their produce to NFA buying stations.―The NFA is ready to buy everything. We have
sufficient funds to buy their palay produce,‖ said Dalisay.Earlier, he said the state-run grains
procurement agency is reviewing the incentives that could be provided to farmers who sell their
produce to the government.
The agency currently procures the equivalent of seven to eight percent of the total domestic rice
production. Last year, domestic rice production reached 18.97 million MT.Dalisay said that
while the palay buying price of NFA rice could be lowered, other incentives, such health
insurance is being considered for farmers that would conform to NFA buying standards.Food
Security chief Francis Pangilinan said the increased procurement to be conducted this year would
increase farmers incomes.―This is a very progressive step by the NFA,‖ he said.The public may
inquire about palay buying outlets through the Text NFA hotline number 09064363133.
Source with thanks:http://www.philstar.com/business/2015/02/11/1422302/nfa-boost-
procurement-activities
NFA to purchase 189,845 MT of palay from farmers
by Alladin S. Diega - February 10, 2015
THE National Food Authority (NFA) said it is targeting to purchase 189,845 metric tons (MT) of
palay, or unmilled rice, from farmers until June this year.As of February 9, the NFA said it has
already bought a total of 89,497 50-kilogram bags of palay, or 4,474 MT. The food agency
attached to the Department of Agriculture (DA) said around 413 buying stations nationwide
purchase palay from farmers.The NFA, however, could not say whether its palay procurement
target for the first six months of the year is higher than its purchases in the same period last year.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
25
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
NFA Administrator Renan B. Dalisay said field officials have been instructed to go on a
―massive procurement‖ in Iloilo, Palawan, Sultan Kudarat, Antique and Isabela in its bid to
stabilize the buying price of unmilled rice.―The NFA intensified its palay buying operations
nationwide to provide farmers a better option, as reports of palay prices are going down in some
areas from P14 to P16 per kilogram,‖ Dalisay said in a statement.The agency buys palay from
farmers at P17 per kilo, depending on quality as measured by moisture content.―Incentives are
[also] being offered to individual farmers and farmer cooperatives nationwide, including P0.20-
per- kilo delivery incentive, P0.20-per-kilo drying incentive, P0.30-per-kilo Cooperative
Incentive Fee,‖ Dalisay said.
The NFA said it has offered these incentives, instead of increasing the buying price of palay as
the agency does not have enough funds.The purchase of palay from farmers is one of the
mandates of the NFA to stabilize the supply and price of rice in the domestic market.For 2015,
the DA projected that unmilled rice production would reach 20 million metric tons.
Source with thanks:http://www.businessmirror.com.ph/nfa-to-purchase-189845-mt-of-palay-
from-farmers/
Egyptian rice exporters say tariff is too high
REUTERS
Published — Tuesday 10 February 2015
Last update 9 February 2015 9:28 pm
DUBAI: Four months after Egypt approved plans for allowing
the sale abroad of its medium-grain rice, exporters complain
government regulations, namely export tariffs, are preventing
their return to the market."The conditions are too tough, a lot of
people got the export licences but are now stuck with them as
they can't sell abroad," exporter Salah Abdel El-Aziz, chairman
of the board of El Alamia 2000 Rice Mills, said on the sidelines
of the Gulfood trade exhibition in Dubai.In October Egypt said
it would allow the export of rice on condition that traders sell the government one tonne of rice at
2,000 Egyptian pounds ($262) for every tonne of rice they export. Exporters also have to pay a tariff
of $280 on every tonne exported.
The value of one tonne of rice is around 3,500 pounds a tonne, exporters said.Abel El-Aziz said he
bought a licence to export 500 tons but has failed to do so since then."Effectively, what you are doing
is paying the government around $480 a tonne to export while the value of the rice is around $400
which makes you end up with a cost and freight price of around $880 a tonne," another rice exporter,
Adham El Welely, executive director of El Welely group, said.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
26
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
Egypt, which produced around 4.3 million tons of rice in the 2014 season, only consumes around 3.3
million tonnes.Egyptian medium grain rice mainly competes with US, Russian and Italian rice on the
international market with some rice from those countries selling for around $750 a ton.
"We used to export around 120,000 tons a year before the ban was imposed, mainly to Middle East
markets such as Syria, Turkey, Kuwait and Dubai," El Welely said.El Welely has licences to export
around 5,000 tons under the new system and has so far exported around 1,000 tons, mainly to Syria.
Egypt first imposed a ban on exports in 2008 saying it needed to save the rice for local consumption
and wanted to discourage rice farmers from growing the crop to save water.
However, rice exporters have complained that the ban on free exports has led to illicit trading."When
smugglers sell the rice at $750 a ton they make an almost 100 percent profit on it and there are a
million ways they find to do that," Karim Otabachi, import and export manager of Egyptian grains
trader Wakalex said.One way is to buy cheaper Indian rice for re-export and then substitute those
exports with Egyptian rice, leaving the Indian rice to be sold on the local market instead.
Source with thanks:http://www.arabnews.com/economy/news/701911
Why Amira Nature Foods Inc. Shares Are Getting Destroyed
Today
By MEENA KRISHNAMSETTY | GOOGLE+ in Hedge Funds, News
Published: February 9, 2015 at 3:50 pm
Amira Nature Foods Ltd (NYSE:ANFI) shares lost around 25% of their value following the
publication of a short report by Prescient Point Research Group. A link to Prescient 40-page
report can be found at the end of this article. McKinley Capital Management, Harvest Capital
Strategies, and Raging Capital Management were among the few hedge funds with positions in
Amira at the end of the third quarter. We don‘t agree or disagree with the contents of the report;
we will leave it up to the readers to decide themselves. Here are some highlights:
―Amira intends to transfer $30m of $225m of newly raised of debt capital in what amounts to a
sham real estate transaction. The purchase price appears to be multiples of both his purchase
price and current market rates, amounting to an egregious transfer of shareholder capital into his
pockets. We should mention, as discussed extensively in this report, our investigation has
revealed that the Indian rice industry is rampant with fraud.‖―…To be clear, we believe Amira
Nature Foods if fabricating the financials it files with the Securities and Exchange Commission.
We hope that investors who own ANFI equity and those considering buying debt or equity at
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
27
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
what appears to be a fundamentally low valuation familiarize themselves with the risks we
addressed.
There are many more we do not. We also hope that the SEC and Deloitte take necessary
precautions in protecting investors.We have sourced official Indian government Basmati export
data that proves ANFI has overstated its international Basmati revenue. We estimate that ANFI
inflated this metric by ~145% in FY‘13 and ~117% in FY‘14, implying that in FY‘14, ~19% of
ANFI consolidated sales were fabricated. We have also collected evidence indicating Amira is
lying about its India Basmati revenue, which it tells US investors is derived wholly from the sale
of branded product. Amira claimed ~$224m in Indian Basmati revenue in FY‘14; we estimate it
actually generated ~$38m, implying that another 34% of consolidated sales are fabricated.
Over 50% of ANFI‘s consolidated revenue is suspect; that number could be larger, as we are
giving the company full credit for its reported revenue from non-Basmati rice and other
commodity products.We have identified scores of undisclosed related party entities that are listed
to be operating from within Amira‘s headquarters, use Amira email addresses, and are directed
by ANFI CEO Karan Chanana or his wife; at least a couple of these entities are in the business of
distributing rice, including Basmati rice, and other commodities.
Source with thanks: Insider Monkey
Did Amira Nature Foods Ltd. Skid On Short-Seller's
Allegations?
John Seward , Benzinga Staff Writer
Amira Nature Foods Ltd ANFI fell more than 25 percent after a short-seller said the company is
"vastly overstating" its India revenue, in particular its core basmati rice sales.
Amira changed hands recently at $9.91, down $3.49.
Report Origins
The report came from Prescience Research Group, which has declined in the past to identify its
principals or to explain much regarding its motives.For the third quarter, which ended September
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
28
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
30, 2014, Dubai-based Amira, an Indian specialty rice producer, posted sales growth of 28
percent to $280.2 million.Last week Amira reported 25 percent growth in preliminary fourth-
quarter adjusted earnings before interest, taxes, depreciation and amortization.
About 18 percent of Amira's 28.7 million shares outstanding were held as short interest as of
January 15, and the company's current market capitalization is only about $385.71
million.Prescience most recently made news in August 2014 by denouncing Netherlands-
based Chicago Bridge & Iron Company N.V. CBI for allegedly faulty accounting regarding a
2013 acquisition.CB&I shares are down more than 37 percent since the allegations, but the drop
appears related to declining oil prices rather than accounting flaws. CB&I provides infrastructure
to the energy industry.
Source with thanks:http://www.benzinga.com/news/15/02/5224380/did-amira-nature-foods-ltd-skid-on-short-
sellers-allegations#ixzz3RToE96ny
AMIRA NATURE FOODS LTD (ANFI)
Amira Nature Foods : SHAREHOLDER ALERT:
Pomerantz Law Firm Investigates Claims On Behalf of
Investors of Amira Nature Foods Ltd. - ANFI 02/09/2015 | 08:54pm US/Eastern
NEW YORK, Feb. 9, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of
investors of Amira Nature Foods Ltd. ("Amira" or the "Company") (NYSE: ANFI). Such
investors are advised to contact Robert S. Willoughby at [email protected] or 888-
476-6529, ext. 237.The investigation concerns whether Amira and certain of its officers and/or
directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.On
February 9, 2015, third-party analyst firm Prescience Point Research Group issued a report on
ANFI (the "Prescience Report").
Among other things, the Prescience Report charged that: 1) ANFI had overstated its India-
produced Basmati rice revenue by at least 116.9% in 2014, citing Indian government reports on
Basmati rice exports; 2) ANFI had engaged in material related-party transactions, including with
its largest distributor, one of its largest suppliers, and a company from which ANFI intended to
buy $30 million of land; and that ANFI CEO Karan Chanana used company resources for
personal use, including to pay salaries for household help.On this news, shares of Amira fell
$3.45 per share to $9.95, or more than 25.8%, on February 9, 2015.The Pomerantz Firm, with
offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier
firms in the areas of corporate, securities, and antitrust class litigation.
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
29
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later,
the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims
of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of class members.
See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
Source with thanks:To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-
investigates-claims-on-behalf-of-investors-of-amira-nature-foods-ltd--anfi-300033382.html
Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC
Announces Investigation of Amira Nature Foods Ltd.
Tue Feb 10, 2015 10:00am EST
* Reuters is not responsible for the content in this press release.
PR Newswire
NEW YORK, Feb. 10, 2015
NEW YORK, Feb. 10, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz &
Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of
Amira Nature Foods Ltd. ("Amira" or the "Company") (NYSE: ANFI -News). Such investors are
advised to contact Peretz Bronstein or his investor relations coordinator Eitan
Kimelmanat [email protected] or 212-697-6484.The investigation concerns whether Amira and
certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934.
On February 9, 2015, third-party analyst firm Prescience Point Research Group issued a report
on ANFI (the "Prescience Report"). Among other things, the Prescience Report charged that:
1) ANFI had overstated its India-produced Basmati rice revenue by at least 116.9% in 2014,
citing Indian government reports on Basmati rice exports; 2) ANFI had engaged in material
related-party transactions, including with its largest distributor, one of its largest suppliers, and a
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
30
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
company from which ANFI intended to buy $30 million of land; and that ANFI CEO Karan
Chanana used company resources for personal use, including to pay salaries for household help.
On this news, shares of Amira fell $3.45 or 25.75% to close at $9.95 on February 9, 2015.If you
are aware of any facts relating to this investigation, or purchased shares of Amira, you can assist
this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan
Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via
email [email protected].
Those who inquire by e-mail are encouraged to include their mailing address, email and
telephone number.Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our
primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In
addition to representing institutions and other investor plaintiffs in class action security litigation,
the firm's expertise includes general corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-
releases/shareholder-alert-bronstein-gewirtz--grossman-llc-announces-investigation-of-amira-nature-
foods-ltd-300033536.html
SOURCE Bronstein, Gewirtz & Grossman, LLC
INVESTOR ALERT: Investigation on Behalf of Investors of
Amira Nature Foods Ltd. Announced by Law Offices of
Howard G. Smith
Mon Feb 9, 2015 10:02pm EST
* Reuters is not responsible for the content in this press release.
INVESTOR ALERT: Investigation on Behalf of Investors of Amira Nature Foods Ltd.
Announced by Law Offices of Howard G. Smith
Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of
investors of Amira Nature Foods Ltd. (―Amira‖ or the ―Company‖) (NYSE:ANFI) concerning
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
31
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
possible violations of federal securities laws. Amira is engaged in processing, distributing and
marketing packaged specialty rice and other food products.The investigation is related to
allegations that the Dubai-based Company misrepresented its business and financial performance
and/or failed to disclose material related-party transactions.
On February 9, 2015, a report by the analyst firm Prescience Point Research Group alleged that,
according to Indian government reports on Basmati rice exports, Amira had overstated its India-
produced Basmati rice revenue by more than 116% in 2014. The report also alleged that, among
other things, Amira engaged in material related-party transactions, including with a company
from which it intended to buy $30 million of land, and the Company's chief executive officer
used Company resources for personal use, including to pay salaries for household help.
Following this news, shares of Amira declined more than 25% on February 9, 2015, to a closing
price of $9.95 per share on unusually heavy volume.
If you purchased Amira shares, if you have information or would like to learn more about these
claims, or if you have any questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at
215-638-4847, Toll-Free at 888-638-4847, or by email [email protected],
Source with thanks: visit our website athttp://www.howardsmithlaw.com.
The Rosen Law Firm Announces Investigation of
Shareholder Claims against Amira Nature Foods, Ltd.
Mon Feb 9, 2015 6:53pm EST
* Reuters is not responsible for the content in this press release.
The Rosen Law Firm Announces Investigation of Shareholder Claims against Amira Nature
Foods, Ltd.
The Rosen Law Firm, a global investor rights firm, announces that it is investigating potential
securities claims against Amira Nature Foods, Ltd. (NYSE:ANFI) resulting from allegations that
ANFI may have overstated its revenues and omitted to disclose material related-party transactions.
On February 9, 2015, third-party analyst firm Prescience Point Research Group issued a report on
ANFI (the ―Prescience Report‖). Among other things, the Prescience Report charged: that ANFI had
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
32
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
overstated its India-produced Basmati rice revenue by at least 116.9% in 2014, citing Indian
government reports on Basmati rice exports; that ANFI had engaged in material related-party
transactions, including with its largest distributor, one of its largest suppliers, and a company from
which ANFI intended to buy $30 million of land; and that ANFI CEO Karan Chanana used company
resources for personal use, including to pay salaries for household help.
That day, ANFI‘s stock price fell $3.45, or 25.8%, damaging investors.The Rosen Law Firm is
preparing a securities class action lawsuit on behalf of ANFI investors. If you purchased ANFI stock
before February 9, 2015, please visit the website athttp://rosenlegal.com/cases-506.html to join the
class action or for more information. You may also contact Jonathan Horne, Esq., or Phillip Kim,
Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail
at [email protected] or [email protected] Rosen Law Firm represents investors
throughout the globe, concentrating its practice in securities class actions and shareholder derivative
litigation.Attorney Advertising. Prior results do not guarantee a similar outcome.
The Rosen Law Firm, P.A.
Phillip Kim, Esq.
Kevin Chan, Esq.
Laurence Rosen, Esq.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: 212-686-1060
Toll Free: 1-866-767-3653
Fax: 212-202-3827
www.rosenlegal.com
A Statement from Amira Nature Foods
Amira Nature Foods Ltd17 hours ago
NEW YORK--(BUSINESS WIRE)--
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
33
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
Amira Nature Foods Ltd (ANFI) today made the following statement.We are aware of the recent
report released yesterday containing false, factually inaccurate and fictional content obtained
from previously released false statements, that have been repackaged and distributed with
malafide intention.The author has released this report to clearly benefit themselves to gain
monetarily from the subsequent decline in our share price, as already described by their own
admission.
They have entered a short position and timed this report with a clear purpose to mislead
investors and the general public at a time when the company is marketing a major financing
event. This flawed report is not in the interest of investors or the general public.This report is
malafide and fictitious. ANFI categorically rejects and denies the many mischaracterizations and
factually inaccurate statements put forth in the report that do not reflect reality. We intend to
pursue this matter legally.
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 60 countries today. The Company 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. The Company‘s 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.
Amira Nature Foods Ltd is listed on the New York Stock Exchange (NYSE) under the ticker
symbol ―ANFI.‖ For more information please visit www.amira.net.This press release contains
statements of a forward-looking nature. These statements are made under the ―safe harbor‖
provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these
forward-looking statements by words or phrases such as ―may,‖ ―will,‖ ―except,‖ ―anticipate,‖
―aim,‖ ―estimate,‖ ―intend,‖ ―plan,‖ ―believe,‖ ―is/are likely to,‖ ―future‖ or other similar
expressions.
We have based these forward-looking statements largely on our current expectations and
projections about future events and financial trends that we believe may affect our financial
condition, results of operations, business strategy and financial needs. The forward-looking
statements in this release include statements regarding the offering of the Notes. These forward-
looking statements include, but are not limited to: our goals and strategies; our expansion plans;
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
34
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
and our future business development. We would like to caution you not to place undue reliance
on forward-looking statements and you should read these statements in conjunction with the risk
factors disclosed in ―Risk Factors‖ appearing in our Annual Report on Form 20-F as well as
other public filings with the Securities and Exchange Commission.
Those risks are not exhaustive and reflect our expectations as of the date of this release. We
operate in a rapidly evolving environment. New risk factors emerge from time to time, and it is
impossible for our management to predict all risk factors, nor can we assess the impact of all
factors on our business or the extent to which any factor, or combination of factors, may cause
actual results to differ from those contained in any forward-looking statement. We do not
undertake any obligation to update or revise the forward-looking statements except as required
under applicable law.
Contact:
Amira Nature Foods Ltd
Bruce Wacha, 201-960-0745
Chief Financial Officer
or
FTI Consulting
Steven Balet, 212-850-5717
Source with thanks:http://finance.yahoo.com/news/investor-alert-investigation-amira-nature-
160200523.html
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates
Claims On Behalf of Investors of Amira Nature Foods Ltd. -
ANFI
Monday, 9 Feb 2015 | 8:53 PM ET
NEW YORK, Feb. 9, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of
investors of Amira Nature Foods Ltd. ("Amira" or the "Company") (NYSE: ANFI). Such
Daily Global Rice E-Newsletter by Riceplus Magazine
www.ricepluss.com R&D Section: Riceplus Magazine Page
35
Contact for Newsletter Advertisement [email protected] Cell : +92 321 3692774
investors are advised to contact Robert S. Willoughby at [email protected] or 888-
476-6529, ext. 237.The investigation concerns whether Amira and certain of its officers and/or
directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.On
February 9, 2015, third-party analyst firm Prescience Point Research Group issued a report on
ANFI (the "Prescience Report").
Among other things, the Prescience Report charged that: 1) ANFI had overstated its India-
produced Basmati rice revenue by at least 116.9% in 2014, citing Indian government reports on
Basmati rice exports; 2) ANFI had engaged in material related-party transactions, including with
its largest distributor, one of its largest suppliers, and a company from which ANFI intended to
buy $30 million of land; and that ANFI CEO Karan Chanana used company resources for
personal use, including to pay salaries for household help.On this news, shares of Amira fell
$3.45 per share to $9.95, or more than 25.8%, on February 9, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is
acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class
litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar,
the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years
later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of class members.
See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-
releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-
amira-nature-foods-ltd--anfi-300033382.html
SOURCE Pomerantz LLP
Source with thanks:http://www.cnbc.com/id/102411012#.