AgFax Rice Review: Prices Expected to Drop; New Growing Method Spreading
- According to the Arkansas Farm Bureau U.S. rice futures ended mixed with old crop contracts under pressure despite relatively strong exports.
- Sameer Mohindru reports at The Wall Street Journal’s Southeast Asia blog that global rice prices are expected to drop due to rising stocks and shrinking import demand in the leading markets.
- According to GMA News Online the Philippines’ government has plans to increase rice exports to 300,000 metric tonnes by 2016 while continuing to reduce rice imports. The plan is to reduce to import deficit by exporting higher priced premium rice while cheaper quality rice imports continue to dwindle.
- AllAfrica.com reports that a shipment of rice sent from Singapore that recently arrived in Douala in Cameroon, Africa, was reported by officials to have mold fungus and other undeclared toxic elements, making it unsafe for human consumption. Safety officials in Douala were warned by collaborators in Singapore before the shipments arrival, but despite advance warning a warehouse company began unloading the toxic rice. The company is now facing complicity charges, and some are calling for the ship the rice arrived on to be impounded until proper legal action can be sought.
- Paul Brown of ClimateCentral.org reports that “the System of Rice Intensification, or SRI, is having such success that 50 countries are now adopting it.” This method of growing allows drier soil cultivation without the need of flooded paddy fields, and offers yield increased of 11% to 220% according to tests done in 11 different countries. This allows both greater sustainability, with less water and fertilizer usage, and greater results.
- Bruce Schultz of the Louisiana State University AgCenter reports that USDA officials from the Conservation program were taught the basics of growing rice at the LSU Rice Research Station. The session was intended to provide conservation personal an idea of how things are done to improve their understanding of the farming system.
- A Press Release from EurekAlert reports that a new method of puffing rice allows for a product with more protein, fiber, and other nutrients than conventional methods, making it ideal for breakfast cereals, snack foods, and nutrition bars.
- Petchanet Pratruangkrai reports for Thailand The Nation that the government is considering cutting back, but not eliminating, the national rice subsidy in an effort to lower prices so the country can begin selling some of its surplus rice and free up warehouse storage space.