07/02/13: Rice ecports decline in Pakistan; Australian grain processor in trouble; Ukrainian grain

Rice traders in Pakistan have blamed escalating energy costs for the decline in rice exports in the country. Samee Ullah Chaudhry, Acting Chairman Rice Exporters Association of Pakistan (Reap), highlighted load shedding of electricity, load management of natural gas and higher rice prices among the reasons for the decrease.  Chaudhry said that there has been 60 percent decline in Basmati rice exports from Pakistan during the last seven months causing a loss of around $250 million.
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Troubled grain processor, Grain Products Australia will continue to trade for another 20 days, while a buyer is sought. 

The company went into voluntary administration in December owing $8-million to the banks and $5.7-million to suppliers.
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Ukraine has secured a $1.5 billion credit agreement from the Export-Import Bank of China to buy grain. The money will be used to forward-buy 2 million metric tons of barley, wheat and corn from local producers. All grain will then be exported to China but no time frame has been given.
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Brown basmati rice (Photo credit: Wikipedia)