Arkansas Powers Up an Energy Tax Exemption for Rice Farmers
|
 | 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
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.
|
|
|
|
Upcoming Events | Events Calendar
|
Mission Statement | 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
2101 Wilson Boulevard, Suite 610 Arlington, VA 22201
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. |
|
|