HAMBURG, May 19 (Reuters) - Iraq's state grains buyer remains in talks about buying around 100,000 tonnes of rice to be sourced from the United States, with no purchase yet made, European traders said on Friday. Offers were submitted on May 15 and must remain valid until May 21, they said. [nL8N1ID372] Traders said the trade ministry in Iraq, a major global buyer of wheat and rice, had sent out price inquiries to trading houses about buying the rice rather than issuing a formal international tender. Only two offers were made for nearby prompt shipment, they said. One U.S.-based multinational trading house offered $587 c&f for 100,000 tonnes and a Middle Eastern trading company offered 40,000 to 60,000 at $595 a tonne c&f. "Iraq normally says a minimum of three offers should be made for grains and rice purchases so a cancellation is expected, but it is not clear if this is a formal tender," one European trader said. "The rather tight supplies of U.S. rice available for shipment up to the end of June make this sale anyway difficult for exporters." Iraq's cabinet authorised the trade ministry on May 9 to make direct purchases of wheat and rice to guarantee food security. [nL8N1IB6YY] Baghdad has been struggling to import grains and rice for its food subsidy programme after introducing new payment and quality terms which left trading houses unwilling to participate in its international tenders. Iraq told suppliers earlier this year it would pay for its grain in instalments. Traders said they were informed by Iraq's Grain Board that low oil prices and other financial factors were forcing the country to delay payments. [nL3N1H64NC]
(Adds comments, background) CAIRO, July 11 (Reuters) - Egypt expects to produce about 6.5 million tonnes of rice paddy this season, the supply ministry said on Tuesday, a jump from the roughly 5.1 million produced last year, according to the United States Department of Agriculture.
Egypt this year planted a total area of rice of about 1.8 million feddans (1.87 million acres), which Supply Ministry Ali Moselhy said he hopes will enable Egypt to double its rice production. Supply Ministry spokesman Mohamed Sweed said the planted area will yield about 4 million tonnes of white rice, consumption of which is expected at 3.3 million tonnes, allowing for a 700,000 tonne surplus. Sweed said Egypt does not intend to import additional quantities from abroad, which it did last year despite a surplus after farmers refused to sell to the government because of a dispute over the local buying price. [nL5N1GJ426] This week Egypt said it would keep in place an export ban on rice, a policy it has intermittently imposed since 2008 in order to discourage over-cultivation of the water-intensive crop and to push down prices in the local market. Egypt's strategic rice reserves are set to rise to about 12 months worth within 10 days from a current level of four months' supply, said Sweed.
May 19, 2017, 09:40:00 AM EDT By Reuters
* Direct contracts being negotiated after failed tenders * Staggered payment mechanism put suppliers off * Iraq imports food for its rationing programme (Adds details) By Ahmed RasheedBAGHDAD, April 16 (Reuters) - Iraq'sTrade Ministry said on Sunday it was negotiating direct contracts for the import of rice and wheat after multiple failures to secure them through international tenders. Iraq had been struggling to import the grains for its food subsidy programme after introducing new payment and quality terms that kept traders away from its international tenders. [nL3N1H64NC] The ministry said in a statement its Central Contracts Committee was about to sign a deal for jasmine rice from the Iraqi Vietnamese Company, but it did not mention the quantities agreed upon. It said it was negotiating to import wheat from several origins for its food rationing programme. "The Central Committee, after a failure of several tenders as a result of the new mechanisms for contracts, has begun to negotiate with large international companies to contract wheat," the ministry said. Major global wheat and rice buyer Iraq had told suppliers earlier this year it would pay for its grains in instalments. Traders said they were informed by Iraq's Grain Board that low oil prices and other financial factors were forcing the country to stagger payments. Iraq created a rationing program for flour, cooking oil, rice, sugar and baby milk formula in 1991 to combat U.N. economic sanctions. On Sunday, the trade ministry said it had contracted for quantities of vegetable oils that had arrived at southern ports and would be distributed shortly.
Welcome to Rice News Today!
The access to our website is free and will remain free always for most of the contents.
However, you need to create a new account to access the website. It will not take much of your time to create a new account and you will have an access to your favorite website to browse rice news, quick stats, latest stats on basmati, downloads and a lot more at one-place!
Thanks & have nice rice news today exploring!