In Honduras the Rice Producers Association is negotiating with the government conditions for establishing a reference price and proposing fixing at $18.65 per hundredweight.
Taken from ReporteArroz.com:
New Tender by Iraq leaves Latin America in suspense .
The Iraqi state-owned grain company issued on Monday an international tender to buy at least 30,000 tons of rice, as stated by the Ministry of Commerce.
Local producers have rejected a request made by agribusiness to import 30,000 tonnes of rice duty free.
While grain processing companies point to shortages and are asking for permission to import duty free, producers deny that there is a shortage and state that domestic demand can be covered using local produce and rice from the import quota under the RD - CAFTA.
After 30 days without any rain, losses are expected which will require increased imports of grain in order to supply the needs of local consumption and agribusiness.
If the dry period is prolonged until August 25, as the national weather service is predicting, about seven thousand acres of rice will be lost, said Fredy Torres, representing producers of the grain. The representative estimated economic losses of nearly $7 million.
Producers and manufacturers have agreed to set the price at $21 per quintal of rice for 2012.
Following negotiations between producers and millers, the parties agreed to a price of 400 lempiras ($21) per quintal of rice which will run until next year. This price represents an adjustment of 50 lempiras ($2.62) compared to the price paid in 2011 (350 lempiras- $18.37).
The agri-industry is requesting an import quota of 660,000 quintals of rice, farmers will only accept 240,000.
The country's rice production will not be enough to meet demand, meaning that rice must be bought from abroad, creating rifts between producers and manufacturers about how much should be imported duty free.
The producers say the national deficit will be 10.891 tons, while agribusinesses consider it necessary to buy 30,000 metric tons.
The Ministry of Industry and Commerce has authorized the duty free import of 4.980 metric tons of rice.
The move is in response to a deficit of 150,000 quintals in domestic production, due to poor production performance in the Colon area.
Freddy Torres, representing rice farmers said that the quota had been requested by them in the previous week, corresponding to 5% of the amount specified in the purchase and sale agreement of existing grains between the government and farmers.
Until the end of the year a harvest of 1 million 50 thousand bushels is expected.
Data provided by the Rice Producers Association show a production record, comparable only to that of 1989.
"Despite the positive results of the rice sector, the Association of Producers are concerned about the measures taken by the government, which through recent taxes, imposed a 1% rice production levy”, Elheraldo.hn reported.
Real Estate Development & Adventure Park Jacó, Costa Rica. Multiple Investment Opportunities Available. The Ocean Ranch eco-residential development is located...
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
Operating Company dedicated to the manufacture of gluten-free and sugar-free products, OHNE brand. The OHNE brand has 8 product lines: square bread, sweet...