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USA Rice Federation is the global advocate of all segments of the U.S. rice industry with a mission to promote and protect the interests of producers, millers, merchants and allied businesses.  
Wednesday, July 2, 2014

Arkansas Powers Up an Energy Tax Exemption for Rice Farmers  

Steve Orlicek and grain dryers
They're eligible
LITTLE ROCK, AR -A tax exemption projected to save Arkansas farmers millions in annual utility costs took effect yesterday. Act 1401 of the 2013 legislative session created a state and local sales tax exemption on utilities used by a grain drying and storage facility. Utilities include electricity, liquefied petroleum gas, and natural gas.

 

"This is a good example of the government recognizing and seizing an opportunity to help make Arkansas rice farmers more competitive," said Steve Orlicek, a Stuttgart rice farmer. "This exemption makes sense from a business perspective and will help offset increases in input costs."

 

According to Arkansas Department of Finance and Administration fiscal projections, the tax exemption will save Arkansas farmers $3.89 million in 2015 and $4.01 million by 2016.

 

In order to receive the tax exemption, the utility must be separately metered and only used for on-farm grain storage or drying. Utilities used in irrigation do not apply. Farmers who want to claim this tax exemption must receive approval from the Arkansas Department of Finance and Administration (DFA) by filling out a form.  

 

Arkansas is the nation's number one rice-producing state, accounting for almost 50 percent of the U.S. rice production. Rice is the state's second highest value commodity, top agricultural export, and contributes more than $6 billion to the state's economy annually. 

 

The Arkansas DFA form can be found at www.arkansasricefarmers.org/taxexemption.

 

Contact: Katherine Vasilos, (501) 282-9518

Spend Summer Vacation the 'Rice' Way - Plan a Promotion to Earn Scholarship Money    

ARLINGTON, VA -- The USA Rice Federation
And we're wild about her project!
encourages high school seniors throughout rice country to invest some vacation time in planning an innovative promotion campaign for September, National Rice Month.  Three scholarship prizes, sponsored by Dow AgroSciences, totaling $8,500 are available.

 

The grand prize is a $4,000 scholarship and a trip to the 2014 USA Rice Outlook Conference in Little Rock, Arkansas for the scholarship presentation.  The second-place winner will receive $3,000 and third-place, $1,500.

 

Rising high school seniors from rice-growing counties in Arkansas, California, Louisiana, Mississippi, Missouri, and Texas can qualify to enter by conducting a promotion campaign in their local communities during September with U.S.-grown rice as the central theme. Entries are due October 13.

 

September is National Rice Month -- a time for America to salute its rice farmers and everyone involved in the U.S. rice industry.  NRM was initiated by an act of Congress in 1991 and is conducted by the USA Rice Federation.  For more information and an entry form, visit the scholarship web page.

 

Contact: Amy Doane, (703) 236-1454

CCC Announces Prevailing World Market Prices 
WASHINGTON -- The Department of Agriculture's Commodity Credit Corporation today  announced the following prevailing world market prices of milled and rough rice, adjusted for U.S. milling yields and location, and the resulting marketing loan-gain (MLG) and loan deficiency payment (LDP) rates applicable to the 2013 crop, which became effective today at 7:00 a.m., Eastern Time (ET).  Prices are unchanged from the previous announcement. 

 
World Price
MLG/LDP Rate
 
Milled Value ($/cwt)
Rough ($/cwt)
Rough ($/cwt)
Long-Grain
17.72
11.63
0.00
Medium-/Short-Grain
17.37
11.89
0.00
Brokens
12.14
----
----

This week's prevailing world market prices and MLG/LDP rates are based on the following U.S. milling yields and the corresponding loan rates:

 
U.S. Milling Yields
Whole/Broken
(lbs/cwt)
Loan Rate
($/cwt)
Long-Grain
57.94/11.23
6.65
Medium-/Short-Grain
63.26/7.45
6.58
 
The next program announcement is scheduled for July 9. 
CME Group/Closing Rough Rice Futures   
CME Group (Preliminary):  Closing Rough Rice Futures for July 2


Month
Price
Net Change
July 2014
$14.660
+ $0.160
September 2014
$13.690
 + $0.160
November 2014
$13.885
+ $0.150
January 2015
$14.055
+ $0.150
March 2015
$14.230
+ $0.150
May 2015
$14.235
+ $0.150
July 2015
$14.285
+ $0.150


In the News  

Around Washington

EPA to Reach Out to Farmers on Water Jurisdiction Rule The Hill

The EPA recently extended the public comment period for its proposal to October, from the original deadline of June, in an effort to encourage more input.

   

Around the Country

In Dry California, Water Fetching Record Prices Washington Post

Private water sales are becoming more common in states that have been hit by drought, including Texas and Colorado.  In California, the sellers include those who hold claims on water that date back a century, private firms who are extracting groundwater and landowners who stored water when it was plentiful in underground caverns known as water banks.

 

Rice Checkoff Still Under Fire, But Louisiana Rice Industry Unites Behind New Law Delta Farm Press

The main reason the Rice Research Board was able to honor most of its commitments was that over the years it had maintained a reserve fund against the possibility of a shortfall. Growers also came together and voluntarily contributed $564,000 to keep the research efforts going.  (Video included)

 

Tax Exemption Takes Effective for Arkansas Rice Farmers THV11-CBS

Act 1401 of the 2013 legislative session created a state and local sales tax exemption on utilities used by a grain drying and storage facility. Utilities include electricity, liquefied petroleum gas.

   

Science and Technology

Online Tool Helps Farmers Weigh Preliminary Options in Farm Bill Agri-Pulse

The online tool is available on the AFPC website. Prior to using the tool, farmers are encouraged to watch or listen to two videos that explain how to enter the data.

   

Celebrating a Forward Thinking Founding Father

Thomas Jefferson:  America's First Foodie Asbury Park Press

Among the food innovations Jefferson introduced to the new world were the olive tree, rice farming and the waffle iron.


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USA Rice Federation is the global advocate for all segments of the U.S. rice industry with a mission to promote and protect the interests of producers, millers, merchants and allied businesses.
About Us
Editor: Michael Klein,
(703) 236-1458,
mklein@usarice.com

Fax (703) 236-2301

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This report is time-sensitive, based on information available at press time. Content is derived from facts and sources believed to be reliable. Reprinting and/or distribution may be done with permission of the USA Rice Federation

Copyright © 2014. Please direct comments or questions to the editor or contact name listed for each story.