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rice market

5
Aug

'36,000 tonnes of rice to be sold through Maveli stores'

The Kerala State Civil Supplies Corporation (Supplyco) will sell 36,000 tonnes of rice through Maveli stores during the Onam-Ramzan season this year, Food and Civil Supplies Minister Anoop Jacob said on Friday. He was speaking after inaugurating the Onam-Ramzan People’s Bazaar at the Putharikandam Maidan here. “The government was planning to market 10,000 tonnes more compared to the corresponding period last year,” the Minister said, adding that it would suffice to check the price rise in the open market.
Civil Supplies Minister Anoop Jacob and Health Minister V S Sivakumar visiting the sales counter of Supplyco Onam-Ramzan Metro People’s Bazaar after the inauguration at Putharikandam in Thiruvananthapuram on Friday | Express Photo
“Despite an increase of 11 to 15 per cent in the prices of commodities sold through the Supplyco, the prices were still 40 per cent lower when compared to the open market,” the Minister said.

“Only 15 per cent of the food consumed in the state is locally produced. Famine in states such as Andhra Pradesh and Tamil Nadu would seriously affect Kerala. This year, the Onam bazaars would be there for 45 days,” the Minister said.

“The Centre had assured that steps would be taken to ensure that the Food Security Bill does not affect the state adversely,” Health Minister V S Sivakumar, who presided over the function, said.  He also made the first sale. Supplyco managing director Shyam Jagannathan and general manager George Joseph were present.

Courtesy : http://newindianexpress.com/cities/thiruvananthapuram/36000-tonnes-of-ri...

1
Aug

India FY 2012-13 Rice Export Earnings Stand at $5.6 Billion; Up 40% From Previous Year

India earned about $5.6 billion from rice exports in the fiscal year (FY) 2012-13 (April – March), up about 40% from the previous FY 2011-12, according to official sources.

In terms of value, the largest destination for Indian rice in FY 2012-13 was Saudi Arabia which accounted for about $678.5 million, up about 10% from the previous fiscal year, while rice exports to the U.A.E. earned about $343 million in FY 2012-13, down about 47% from FY 2011-12.

Details of earnings from rice exports to other major destinations in FY 2012-13 are as follows:

Nigeria – About $307 million, up about 4% from the previous fiscal year.

Senegal – About $243 million, up about 148% from the previous fiscal year.

Benin – About $217 million, up about 186% from the previous fiscal year.

Kuwait – About $196 million, down about 17% from the previous fiscal year.

Cote D’ Ivoire – About $195 million, up about 111% from the previous fiscal year.

Iraq – About $186 million, up about 36% from the previous fiscal year.

Yemen – About $170 million, up about 77% from the previous fiscal year.

South Africa – About $164 million, up about 118% from the previous fiscal year.

U.K. – About $150 million, up about 30% from the previous fiscal year.

U.S. – About $107 million, up about 12% from the previous fiscal year.

Guinea – About $95.8 million, up about 1,856% from the previous fiscal year.

Nepal – About $92 million, up about 163% from the previous fiscal year.

India’s earnings from rice exports in FY 2012-13 increased significantly in:

South Korea - about $4.8 million, up about 139,041% from previous FY.

Rwanda - about $1.58 million, up about 1,100% from previous FY.

Belarus - about $1.5 million, up about 1,404% from previous FY.

Burkina Faso - about $1.1 million, up about 1,198% from previous FY.

Mexico - about $942,000, up about 5,383% from previous FY).

Taiwan - about $855,000, up about 2,051% from previous FY.

Colombia - about $310,000, up about 2,204% from previous FY.

Cayman Islands - about $76,300, up about 3,470% from previous FY.

Mali - about $66,334, up about 4,850% from previous FY.

India’s rice exports in FY 2012-13 are estimated at around 10 million tons, up about 30% from around 7.3 million tons exported in the previous fiscal year.

Courtesy : http://oryza.com/content/india-fy-2012-13-rice-export-earnings-stand-56-...

30
Jul

India Wholesale Rice Prices Continue to Soar; Up 20% From Last Year

Average wholesale rice prices in India continue to increase sharply, reaching around Rs. 2,742 per quintal (about $465 per ton, using current exchange rate) as of July 29, 2013, which is up about 1% from around Rs. 2,719 per quintal (about $448 per ton, using historical exchange rates) recorded in the previous month and up about 20% from about Rs.2,294 per quintal (about $412 per ton, using historical exchange rates) seen during July 2012, according to government sources.

Rice prices continue to soar in India despite ample government stocks which stand at around 19.4 million tons, more than double the buffer and strategic reserve of around 9.8 million tons required during this time of the year. Last month, the Indian government said that it will release around 500,000 tons of rice at low prices into the market to help rein in prices (Read related Oryza story India Rice Retail Prices May Continue to Increase, Despite Government Measures).

Courtesy : http://oryza.com/content/india-wholesale-rice-prices-continue-soar-20-la...

26
Jul

Volatility in rice likely to continue

Courtesy : The Hindu Business Line News Paper. Date : 26.07.2013

26
Jul

India Trade Analysts Expect 2013-14 Rice Exports to Reach 11 Million Tons

A bumper crop and weak rupee will help India ship a record 11 million tons of rice in 2013-14, up about 5% from around 10.4 million tons exported in the previous year. Local trade analysts say that India is likely to be the top rice exporter once again in 2013-14, with around 28% of the global rice trade share.

Analysts say that India is likely to export around 7.5 million tons of non-basmati rice in 2013-14, and about 3.5 million tons of basmati rice. In the absence of strong competition from Thailand, India’s total rice exports are expected to fetch around $6.5 billion in total rice exports in 2013-14, say analysts.

According to the USDA, India’s rice production is expected to reach a record 108 million tons in 2013-14. The U.S. agency expects India to export around 9 million tons of rice in 2013-14.

Courtesy : http://oryza.com/content/india-trade-analysts-expect-2013-14-rice-export...

23
Jul

Aromatic rice may see decline in prices

Courtesy : The Hindu Business Line News Paper. Date : 23.07.2013

16
Jul

Rice seen range-bound on slack demand

Courtesy : The Hindu Business Line News Paper. Dt: 16.07.2013

10
Jul

USDA Post Projects Bumper Rice Crop for India Thanks to Weather, Policy Support; January-June Exports Estimated at 5 Million Tons

USDA Post estimates the Indian kharif (main) rice crop at 87 million tons, thanks to a “timely and strong” monsoon supporting an early planting. The Post reports that the monsoon covered India by June 16, two weeks ahead of normal and rain as of June 26 was 37% above normal with 29 of the 36 weather subdivisions receiving normal or above normal rainfall.
 
As of July 5, India’s kharif rice crop planting area has increased sharply to around 6.92 million hectares so far, up about 22% from around 5.7 million hectares during same time last year, according to the Ministry of Agriculture.
 
To aid in the development of the crop, well distributed rains will need to continue Junly-September.  Moisture levels late in the year will then affect the rabi crop, consisting of about 13% of India’s rice production.
 
As Oryza reported last month, The Indian government has approved the 2013-14 (October - September) minimum support price (MSP) at Rs.1,310 per quintal (about $217 per ton, using current exchange rates) for common paddy rice, which is up about 5% from around Rs 1,250 per quintal (about $225 per ton, using historical exchange rates) in the previous year. The 2013-14 MSP for grade ‘A’ variety has been fixed at Rs. 1,345 per quintal (about $223 per ton, using current exchange rates), also up about 5% from 1,280 per quintal (about $230 per ton, using historical exchange rates) in the previous year. The declining value of the rupee against the dollar has mean that prices are unchanged in USD.
 
While the paddy MSP was hiked 5% from last year, the USDA post reports that the MSPs for corn and pigeon pea were hiked over 11%.  However, the USDA says the hike in MSPs “will support planting of kharif crops, particularly rice and corn in irrigated areas. Despite relatively higher MSPs for corn and pigeon pea, most farmers will continue to plant rice due to the government’s ‘rice and wheat’ focused food grain procurement system. Farmers also prefer rice with its higher ‘assured’ returns compared to coarse grains due to relatively stable yields and lower vulnerability to pests/diseases and climatic factors. Consequently, the revised MSPs are unlikely to cause any major shift in the cropping pattern for the upcoming 2012 kharif season. Market analysts report that the increase in MSPs could further cereal price inflation (16.1 percent in May 2013), and may also lead to higher government procurement of rice in the upcoming MY 2013/14 season.”
 
The USDA says official figures from India suggest the country has shipped about 5 million tons of rice in the first half of 2013, down from about 5.6 million tons shipped the same period last year.  Exports appear to have surged in June, at over one million tons, with strong demand from Africa including Senegal, Benin, South Africa, Cote d’ Ivoire, and Cameroon.

Courtesy : http://oryza.com/content/usda-post-projects-bumper-rice-crop-india-thank...

5
Jul

Rice market seen tumbling on ample stocks

Courtesy : The Hindu Business Line News Paper. Dt: 5.07.2013

29
Jun

Gujarat does it again; ranks first in terms of least distortion for paddy

 Gujarat .a marginal contributor to India’s overall annual rice production, tops the list of states having least distorted rice markets in the country, according to the first ever ranking of states on the basis of degree of market distortion for rice done by the Commission for Agriculture Costs and Prices (CACP).
 
Interestingly, the top rice producing states in the country like Chhattisgarh, Punjab, Haryana, Odisha, Andhra Pradesh, Uttar Pradesh have the most distorted market for the same. 
 
Chhattisgarh, which has emerged as one of the biggest producers of paddy in India, is ranked the lowest among the 18 states in the country where rice is mainly grown during the kharif season. In 2011-12, Chhattisgarh produced almost 6 million tonnes of rice, out of the total annual production of 104 million tonnes. 
 
“Interestingly the eight states with most distorted markets with respect to paddy and rice procured about 62 percent of total marketed surplus of rice in 2011-12. Thus, the magnitude of distortion in the rice and paddy markets is clearly evident,” CACP said in its report.  
 
The ranking was part of its kharif price policy recommendations made by the Commission for 2013-14. The cabinet Thursday accepted the Commissions recommendations to increase MSP of paddy by Rs 60 per quintal for 2013-14.
 
West Bengal, which is the country’s biggest producer of rice, was placed in the middle and was ranked 9th in the overall list. Gujarat produced around 2 million tonnes of paddy in 2011-12.
 
Explaining  the rationale, the Commission said that degree of market distortion for rice has been calculated on the basis of taxes/levies on rice as percentage of MSP, bonus on paddy announced by the state governments, rice procurement as percentage share in rice production, stock limits (on paddy and rice), levy rice and market reforms undertaken by the state government.
 
The Commission in its recommendations advised the state governments to get their markets right and bring back the focus on establishing a single barrier free market, with minimum controls.
 
“State governments need to facilitate setting up adequate infrastructure such as storage facilities by the private sector, milling capacities; they also need to be discouraged from embarking on a high procurement mission, as it discourages private sector participation. State should come only as a last resort where the markets fail, and not take over the functioning of markets as a first step,” the Commission said.
States having least distorted paddy markets in India
States
Rank
Gujarat
1
Assam
2
Himachal Pradesh
3
Bihar
4
Kerala
5
Tamil Nadu
6
Karnataka
7
Maharashtra
8
West Bengal
9
Jharkhand
10
Uttarakhand
11
Madhya Pradesh
12
Uttar Pradesh
13
Odisha
14
Haryana
15
Punjab
16
Andhra Pradesh
17
Chattisgarh
18
 Source: CACP

 

Source : http://www.business-standard.com/article/markets/gujarat-does-it-again-r...

25
Jun

Rice supply seen improving from July

Courtesy : The Hindu Business Line News Paper. Dt : 25.06.2013

21
Jun

Fear over fall in rice prices keeps away bulk buyers

Courtesy : The Hindu Business Line News Paper. Dt 21.06.2013

19
Jun

India to Release Rice Stocks to Dampen Domestic Prices

India plans to release rice and wheat stocks from state inventories in an effort to dampen domestic prices, the food minister announced.
 
India will look to release 10 million tons of wheat on the open market and 7.5 million tons of rice and wheat through state-owned shops.
 
As of June 1, 2013 India had about 33 million tons of rice in stock and about 44 million tons of wheat. The government buys about one-third of paddy production each year at a set minimum price.   In 2012-13 the minimum support price for paddy was about 1,250 rupees per quintal (about $230 per ton) and the government is taking about hiking the price in 2013-14 to 1,310 rupees per quintal (about $234 per ton at current exchange rates).
 
The average monthly price for rice in March was 2,498 rupees per quintal (about $459 per ton), up 8% from 2,319 rupees per quintal a year ago (though up only 1% from $456 per ton in U.S. dollars due to the weakening of the ruppe against the dollar).
 
India 5% broken rice is today shown around $450 per ton.  

Courtesy : http://oryza.com/content/india-release-rice-wheat-stocks-dampen-domestic...

11
Jun

Rice to rule around current levels

Courtesy : The Hindu Business Line News Paper. Date: 11.06.2013

5
Jun

India Reviews Government Pricing Policy for Rice, Other Crops

Under criticism from the Comptroller and Auditor General (CAG) over the lack of norms in fixing the minimum support price (MSP) of paddy rice and other crops, the Indian government has called for a review of the pricing policy.

A Parliamentary Standing Committee on Agriculture has invited suggestions, views, and comments of experts/stakeholders/individuals/institutions/organizations on pricing of agricultural produce. The committee has asked for views to be submitted in either in English or Hindi and sent to the Deputy Secretary (AGR), Lok Sabha Secretariat, Room No. 616, Parliament House Annexe, New Delhi – 110001, Tel: 23034042, Fax: 23018865, e-mail: agricom@sansad.nic.in. All suggestions and views will be kept confidential, an official statement said.

Last month, the CAG said that the government should make the MSP pricing policy transparent as wide variations were seen in the MSPs during 2006-07 to 2011-12. In India, the MSP for paddy rice and other crops is fixed by the government based on the recommendations by the Commission for Agricultural Costs and Prices (CACP) which considers the cost of production, trends in domestic and international market prices, stock position, previous MSPs, etc. while making the recommendations. For the year 2013-14, the CACP has recommended a hike of around 5% over 2012-13 support prices, compared to around 16% hike in 2012-13 MSP over 2011-12 MSP fixed by the government.

Even with the MSP rising, the weaker rupee against the U.S. dollar has kept paddy prices in USD terms nearly unchanged for several years, helping to allow India to remain competitive on the global rice export market.

Courtesy : http://oryza.com/content/india-reviews-government-pricing-policy-rice-ot...

3
Jun

Rice prices continue to rise in Vijayawada, A.P

With farmers possessing almost no paddy grown in the kharif 2013, middlemen and rice millers are having a field day in fixing prices of various varieties of rice in the market in Krishna district.

Given the monopolistic behaviour of all people involved in the rice business between the farmer and consumer, prices are skyrocketing since early March. There was an average Rs.100 to Rs.250 increase per 25-kg bag of any quality or variety of rice in wholesale market. “It was not the demand for rice from customers in wedding season to blame for soaring prices. The prices are expected to go up further in next few weeks as there was no paddy production in rabi season in Krishna district,” Machilipatnam Rice Merchants’ Association president Y. Sekhar told The Hindu.
With little paddy procurement from farmers, prices of white/fine rice have been soaring for the past fortnight. Photo: V. Raju
The varieties largely preferred by all classes of people from all income groups are 1061, BPT (grown in Krishna district) and Samba which is largely imported from neighbouring Godavari districts. “One kg of fine quality Samba variety rice is Rs.48 now which was between Rs.35-38 in March in wholesale market.

Though rising of prices is a common phenomenon, the rate of increase is much higher this year” said K.V.N. Prasad, a wholesale dealer from Machilipatnam rice market. The fluctuation in rice prices normally witness during the post-rabi season, in which local variety M7 production would influence in price fixation.

However, there was no production of M7 in the recent Rabi in Krishna district due to ongoing canal modernisation works. According to wholesale dealers, the middlemen from other parts in Andhra Pradesh now eyed on Kharif paddy, which was stored by big farmers.

Courtesy : http://www.thehindu.com/news/cities/Vijayawada/rice-prices-continue-to-r...

31
May

Range bound trading seen in rice

Courtesy : The Hindu Business Line News Paper. Date: 31.05.2013

29
May

India Average Wholesale Rice Prices Up 12% from Last Year

The average wholesale rice prices in India in May 2013 stand at around Rs. 2,619 per quintal (about $471 per ton) as of May 28, 2013, up about 12% in local currency (vs up about 13% in usd) from around Rs. 2,332 per quintal (about $416 per ton) recorded in May 2012, according to government sources. Month-on-month, average rice prices are almost 4% higher in local currency (vs about 2% higher in usd) than around 2,513 per quintal (about $462 per ton) seen in April 2013.
 
In Delhi and some northeastern states, rice prices are up about 5% to 10% in local currency from last May, while average rice wholesale prices are around 15% to 25% higher in rupees than last year in most other states. However, the steepest rise in rice prices is seen in Kerala where wholesale prices stand at around Rs. 3,800 per quintal (about $685 per ton), up around 45% in local currency from about Rs. 2,615 per quintal (about $470 per ton) recorded in May 2012.

Courtesy : http://oryza.com/content/india-average-wholesale-rice-prices-12-last-year

28
May

Rice market seen recovering in next few weeks

Courtesy : The Hindu Business Line News Paper. Date : 28.5.2013

23
May

Competition Slows Down India Rice Shipments in 2013

Rice exporters in India say that rice shipments have considerably slowed down this year due to increased competition from Myanmar, Vietnam and Pakistan. According to local sources in India, in 2011-12, there used to be at least 20 ships waiting at the anchorage in the Kakinada port almost throughout the year, but this year the number has dwindled to around 4 to 5 ships at the most.

Traders say that competitive pricing by Vietnam, Myanmar and Pakistan have hurt India’s rice exports this year. They add that the government fixed purchase prices (of around $235 per ton for paddy in 2012-13 compared to around $200 per ton in 2011-12) in India make Indian rice more expensive than other competitors in the region. Traders also complain that the poor infrastructure and connectivity of the Kakinada port hinders rice exports as well.

India was the world’s largest rice exporter in 2011-12, exporting around 10.4 million tons. However, the USDA Post reported earlier this month that India’s rice exports during January – March 2013 have declined to around 2.62 million tons, down about 14% from the same period last year, mainly due to high prices. In 2012-13, India’s rice exports are forecast to decline over 20% to 8 to 8.5 million tons.

Courtesy : http://oryza.com/content/competition-slows-down-india-rice-shipments-2013

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