& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

FOOD PRICE

Philippines grapples with record high rice prices

ANN/Philippine Daily Inquirer
Prices of rice in the country, which imports more than 10 per cent of its annual rice requirement and is the world's top importer this year, may retail as high as 49 pesos (US$1.16) a kilo because the surge in international prices is relentless.
Rice futures in the United States set another all-time high on April 17, just ahead of a tender by the Philippines, for 500,000 metric tonnes.
The tender from the Philippines on April 17 attracted offers to sell only about two-thirds of the volume it sought, a clear sign of the strain on rice output after major exporters began to curb exports earlier this year.
The Philippines received offers of between $872.50 and $1,220 a tonne, sharply higher than the just over $700 it paid in March.
Without factoring in shipping and other administrative
costs, these price offers should translate to a retail price of at least 49 pesos a kilo, far exceeding the price of government-subsidised rice set at 18.25 pesos (43 US cents) a kilo. Some commercial rice varieties are now being retailed at about 40 pesos (95 cents) a kilo.
In Bangkok, Thai 100 per cent B grade white rice, considered the world's benchmark, hit $950 per tonne, freight on board, up by 10 per cent in jyst one week, and three times its price at the start of 2007, further fanning fears that millions across Asia will struggle to afford their staple food.
US rice futures surged over 2 per cent to $23.37 a hundredweight on the Chicago Board ofTrade to a record high for the third straight session.
Exporters offered to sell to the National Food Authority (NFA), the Philippine government-run grains agency, a total of only 325,750 tonnesconsisting of 290,750 tonnes of 25-per-cent broken
rice and 35,000 tonnes of 5-per-cent broken rice.
The rice, which will come from Thailand, Viet Nam, Pakistan and the United States, is set to be delivered between April and June.
At the tender on March 11, the NFA was able to buy 335,500 metric tonnes of rice at an average price of $708 a tonne, a big jump from the January 2008 price of $430 a tonne, according to NFA Deputy Administrator Vic Jarina.
“The most likely reason for the lesser volume offered by suppliers (this time) is low inventory in their respective countries. They might also be securing stocks for local consumption,” Jarina said.
Indonesia on April 15 became the latest to impose controls on rice exports, joining India, Egypt and Viet Nam, the world's second-largest exporter, which has clamped down on new export contracts.
Demand from other big importers such as Iran, which is expected to try to buy up to 1
million tonnes of Thai rice this year, will keep the upward pressure on prices, analysts said.
"There will be Iran, Japan and another round of tenders from the Philippines which will help boost prices,” said Paka-onTipayatanadaja, a rice market analyst at Bangkok's Kasikorn Research Centre.
Australian shortages were contributing to a lack of supplies from other producers in the region.
The unprecedented surge in rice prices, which some analysts say is only going to continue, pose a growing threat to regional governments worried about the prospect of hoarding and social unrest.
Policymakers are grappling with the impact on inflation of the soaring cost of food, which is combining with oil prices at record levels of $ 115 a barrel.
Governments in top producer countries such as Thailand and Viet Nam are urging farmers to grow extra crops, although it will be several months before the addi-
tional supply hits the market.
Jarina said other traders may be waiting for better prices. He, however, noted that there were more suppliers who participated at the bidding on April 17, "probably due to start of summer harvests in exporting countries like Viet Nam”.
Twelve companies prequalified for the tender on April 17. These were Thai Hua, Peter Cremer, DaeVVoo International, Angimex, Long An Food, Malaysia International Trading Co., Toepfer International, KTC, Asia Gold Rice, LG International, Viet Nam Southern Foods Corp, and 01am International.
From the offers, at least 195,000 tonnes will come from Thailand; 80,000 from Viet Nam; 25,000 from Pakistan; and another 25,750 from Thailand, Pakistan and the United States combined.
By tender requirements, the NFA should decide within five days if it will buy all offers. The agency was given a budget of 15.47 billion pesos ($369.16
million) for Thursday's tender.
The four tenders, including Thursday's bidding, held by the NFA since December 2007 had fallen shon of the agency’s requirements. Total rice importation to date has reached 1.1 million tonnes.
If the NFA decides to buy all the rice offered by the suppliers at their respective prices, the country's total procurement will reach more than 1.42 million tonnes.
Noting that the prices offered by the suppliers were too high, Jarina said the NFA would have to review the bids first before it can decide whether to hold more tenders to complete its importation target of 2.1 million tonnes this year.
A fifth tender is scheduled for May 5 for another 500,000 tonnes of rice, which “may be increased” to some 600,000 tonnes if needed, according to the NFA deputy administrator. At least 17 billion pesos ($405.67 million) has been earmarked for the May tender.