World Grain - May 2013 - 113

RICE NEWS ROUNDUP

Olam sells rice milling facility to Ebro Foods
SINGAPORE — Olam International Limited announced on March
13 that it has sold Taraori Rice Mills Private Limited, the holding
company for its rice milling assets in India, to Spanish rice and pasta
manufacturer Ebro Foods for $14.5 million. The basmati rice mill,
located in Haryana, India, was acquired in 2008 and has a processing
capacity of 18 tonnes of paddy rice per hour.
“Olam is a global leader in the rice supply chain from Asia to Africa
with a strong presence in both the sourcing origins and destination markets, supporting food security in many developing countries. India is
an important sourcing origin for us,” said Rajeev Raina, global head of
Olam’s rice business. “While the basmati part of the business provided
some sourcing synergies, the sales and distribution channel was distinct
and separate from the non-basmati rice business. Furthermore, signiﬁcant investments in branding were required to grow the franchise.
“Through this sale we are monetizing more than the book value of
ﬁxed investments, as well as releasing working capital — which will
be used to reinforce our core supply chain and trading business in nonbasmati rice from India and other origins for our conventional markets.”

USDA: Philippine rice imports to fall
MANILA, PHILIPPINES — The U.S. Department of Agriculture
(USDA) said in April that the Philippines will import less rice in
market year 2013-14 due to high local production.
Rice imports are projected to decline by 20% to 1.2 million tonnes
in the 2013-14 marketing year, according to the Global Agriculture
Information Network (GAIN) Report published by the USDA’s Foreign Agricultural Service.
“MY 2012-13 rice imports are expected to remain at 1.5 million
tonnes, inclusive of unregistered imports, and are forecast to decline
to 1.2 million tonnes in MY 2013-14 due to improved production and
the GPH’s (Philippine government) cap on ofﬁcial rice imports,” the
report noted.
Last month, Agriculture Secretary Proceso J. Alcala said the Philippines will import only 187,000 tonnes of rice this year, around 63%
lower than the 500,000 tonnes imported last year, with the Philippines expected to achieve self-sufﬁciency in the staple.
Last year, the country produced 18.03 million tonnes of rice, 8%
higher than the year before. This year, the country aims to produce
20.04 million tonnes, 11.15% higher than actual production last year.

Pakistan to explore foreign rice markets
LAHORE, PAKISTAN — The Rice Exporters Association of Pakistan (Reap) said on March 30 that it will fully support the Trade
Development Authority of Pakistan (TDAP) in exploring various
foreign markets to maximize exports.
Chaudhry Sameeullah, vice-chairman of Reap, hailed the cooperation of TDAP’s chief in developing foreign markets. The group will
work to develop a comprehensive program focused on promoting
rice exports to Central Asian states. Exhibition will be arranged in
collaboration with rice exporters to showcase Pakistani rice.
Central Asian states have a huge demand for Pakistani Basmati,
which is an integral part of Turkish cuisine. Rice exporters expected
better relations with the TDAP will boost export and foreign exchange.
The Punjab government will soon hand over ﬁve acres of land for
the establishment of the Rice Technical Training Institute to produce
skill manpower for the rice industry.
For more information, see Page 130.

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