Soaring exports of non-basmati rice to China has helped Pakistan’s total rice exports in July 2012 - April 2013 of the fiscal year 2012-13 (July - June) reach around 2.9 million tons, according to data from the Rice Exporters Association of Pakistan (REAP).
China accounted for around 564,670 tons or about 23% of total non-basmati rice exports by Pakistan during July 2012- April 2013. Total non-basmati rice exports to China in the first ten months of the fiscal year 2012-13 are already about 56% higher than around 362,170 tons of non-basmati rice exports to China in the full fiscal year 2011-12. Pakistan’s non-basmati rice exports are steady destinations such as Kenya, Tanzania, Mozambique, Senegal and some other countries as well.
However, Pakistan's basmati rice exports in the current fiscal year remain slow, reaching around 471,040 tons in July 2012- April 2013, which is about 51% of the 968,942 million tons exported in the full fiscal year 2011-12. Basmati rice exports to key export destinations such as the UAE, the UK and Iran during July 2012 – April 2013 remained below 50% total basmati rice exports in the full fiscal year 2011-12, according to REAP.
Courtesy : http://oryza.com/content/china-emerging-largest-destination-pakistan-non...
Courtesy : The Hindu Business Line News Paper. Date 21.05.2013
New Delhi: Rice exports from India, the world’s second-largest grower, are poised to slump from a record as supplies from Vietnam, Myanmar and Pakistan widen a global glut, according to the International Rice Research Institute (IRRI).
“Shipments including the aromatic basmati variety may decline 32% to 7 million tons this year from 10.25 million tonne in 2012,” said Samarendu Mohanty, a senior economist with the Philippines-based organization.
This compares with 9 million tonne estimated by the Foreign Agricultural Service of the U.S. Department of Agriculture.
Corn and wheat prices have fallen in Chicago this year, while rice is little changed as farmers in the U.S. increase production after the worst drought since the 1930s wilted crops last year.
Goldman Sachs Group Inc. is bearish on agriculture this year because of prospects for higher output in the Americas and rising reserves, the bank said in a report May 14.
“There’s a lot of surplus globally and this is a buyer’s market at present and this will continue until the end of this year,” Mohanty said in a phone interview.
Thailand will be selling aggressively at low prices to reduce its stockpile and capture some of India’s markets of cheap quality rice in Africa and the Middle East.
Production of rice, the staple for half the world, will climb 2.1% to 497.7 million tons in 2013, while world inventories are forecast at 171.8 million tons as supply beats consumption, says the United Nations’ Food & Agriculture Organization.
Thailand may ship 8.5 million tons to 9 million tons, while Vietnam is set to sell 7 million tons this year, Mohanty said. Thailand exported 6.95 million tons and Vietnam sold 7.72 million tons in 2012, according to the Foreign Agricultural Service.
Any decline in shipments from India will be met by supplies from Vietnam, Pakistan, Myanmar and Cambodia and is unlikely to boost global prices, said Concepcion Calpe, the secretary of the FAO’s inter-governmental rice group.
The Thai government will have to sell the rice it owns at a loss, which may bring world prices down, she said in an e- mail on Wednesday. Only if there is a major production shortfall somewhere in the world, could this be avoided.
Stockpiles in Thailand jumped after Prime Minister Yingluck Shinawatra’s government started buying grain from farmers in 2011, fulfilling an election pledge to boost rural incomes. Milled rice reserves in Thailand may jump 29% to 16.3 million tons in 2013, according to the Rome-based FAO.
The free-on-board price of 25 percent broken rice in Vietnam, an Asian benchmark, has fallen to $361 a ton in April from $373 in January, while the rate in India climbed to $418 from $398, according to FAO. Exporters in Pakistan offered rice at $378 in April, FAO data show.
Rough-rice futures on the Chicago Board of Trade traded 0.3% lower at $15.180 per 100 pounds at 12:05 p.m. in Mumbai on Thursday.
Rice prices in India rose after the government increased the minimum price at which state agencies buy the grain from farmers, Mohanty said.
The Commission for Agricultural Costs and Prices, which advises the government, recommended that prices of common paddy be raised to a record Rs 1,310 per 100 kilograms (220 pounds) for the 2013-2014 season.
“Rice offered by Vietnam and Myanmar is very much cheaper than India,” said Prem Garg, managing director of Shri Lal Mahal Ltd, a New Delhi-based exporter.” Our prices are higher due to the minimum support price assured by the government to the farmers.”
Courtesy : http://www.livemint.com/Politics/36ESrlf5LL7Uyk6uQ9S2XM/India-rice-sales...
Courtesy : The Hindu Business Line News Paper. Dt- 17.05.2013
Courtesy : The Hindu Business Line News Paper. Date:14.05.2013
India’s rice exports during January – March 2013 (Q1) have slowed down this year to around 2.62 million tons, down about 14% from around 3.04 million tons of rice exported during the same period last year, according to the USDA Post in New Delhi.
Non-basmati rice exports have declined due to higher prices this year, with exported tonnage reaching around 1.43 million tons in the first quarter of 2013, down about 30% from around 2.06 million tons exported during the same period last year.
However, basmati rice exports in the first quarter of 2013 have increased to around 1.19 million tons, up about 21% from around 980,000 tons exported during the same period last year mainly due to demand in Iran. The USDA Post said that Iran has emerged as the largest rice importer of Indian rice in the first three months of 2013, importing an estimated 405,500 tons in the first quarter.
India exported a record 10.4 million tons of rice in 2012, including around 6.9 million tons of non-basmati rice and around 3.5 million tons of basmati rice. In 2013, India’s total rice exports are expected to reach around 8.1 million tons, down about 20% from the previous year.
Courtesy : http://oryza.com/content/india-exports-262-million-tons-rice-q1-2013-dow...
Courtesy : The Hindu Business Line News Paper. Date 10.5.213
Courtesy : The Hindu Business Line News Paper. Date 10.5.2013
Courtesy : The Hindu Business Line News Paper. Dt : 07.05.2013
Courtesy : The Hindu Business Line News Paper. Dt 04.05.2013
The London-based International Grains Council (IGC) improved the 2012-13 global rice trade forecast this month to around 37 million tons, up about 3% from last month’s estimates of around 36 million tons.
The IGC said in its latest report that rice trade will be boosted by continued demand in China as prices remain high there. The IGC said, “With values in China still significantly higher than at export origins, another year of above average imports is expected.” However, the new estimates for global rice trade this year are still about 3% lower than an estimated 38 million tons traded in 2011-12. The IGC said that this is because of smaller deliveries to sub-Saharan Africa and Far East Asia this year.
The IGC expects global rice production in 2012-13 to reach around 467 million tons, down about one million tons from the previous month's estimates but still the highest on record. Boosted by higher consumption in China and India, global rice consumption in 2012-13 is expected to increase to around 468 million tons, up about 2% from around 458 million tons in 2011-12, said the IGC.
Courtesy : http://oryza.com/content/igc-improves-2012-13-global-rice-trade-forecast...
The average wholesale rice prices in India for April 2013 stand at around Rs. 2,623 per quintal (about $482 per ton), up about 10% from around Rs. 2,375 per quintal (about $450 per ton) recorded for April 2012, according to government sources. Month-on-month, average rice prices have increased almost 7% from around 2,452 per quintal (about $451 per ton) seen in March 2013.
Rice production in India is estimated to decline to around 101.80 million tons in 2012-13 as per the latest government estimate, down almost 3% from around 105.31 million tons produced in the previous year. However, production is expected to rebound to around 105 million tons in 2013-14 as weather is expected to be favorable for rice production this year.
Courtesy : http://oryza.com/content/india-wholesale-rice-prices-10-last-year
Courtesy : The Hindu Business Line News Paper. Dt 25.04.2013
Courtesy : The Hindu Business Line News Paper Dt- 23.04.2013
Courtesy : The Hindu Business Line News Paper. Dt 20.04.2013
In the financial year 2012-13 (April to march), exports of agriculture commodities, comprising mostly rice and wheat, stood out as perhaps the lone bright spot in an otherwise difficult year for the Indian export sector.
Speaking at the release of the Annual Supplement 2013-14 to the Foreign Trade Policy 2009-14, the Union Minister for Commerce, Anand Sharma, said today that India’s overall exports have declined 1.76% from the previous year to $300.60 billion in FY 2012-13, while the trade deficit widened about 4% from $183.4 billion in 2011-12 to $190.91 billion in 2012-13. The minister blamed the weak global economy for the poor performance of the export sector.
However, agriculture exports have remained robust in the past year. The Commerce Minister said that following the removal of export ban on wheat and non-basmati rice exports since 2009 and 2011 respectively, India has become the largest rice exporter in the world and the second largest wheat exporter. He said following bumper harvest last year export of all agricultural commodities (except pulses and edible oils) is duty free. However, the minister did not mention any special incentives for rice exporters, as he did for the IT, manufacturing and service sectors.
In 2012, India exported a record 10.3 million tons of rice, becoming the world’s largest exporter for the first time. The USDA says that India is playing an expanding role in global rice-export markets since September 2011, when the country removed restrictions on exports of non-basmati rice.
Courtesy : http://oryza.com/content/rice-wheat-exports-shine-india%E2%80%99s-gloomy...
Despite an all-time record production of over 105 million tons of rice in 2012-13 and huge stocks in the central pool, average retail prices of popular milled rice have surged to around Rs.40 to Rs. 50 per kilogram (about $750 to $925 per ton) in the doemstic market, up around 25% to 30% from last year’s levels, according to local sources.
According to official data, rice prices have increased about 15% in the last six months. Local traders say that the increase in the minimum support price of rice last year by around 16% has contributed to the increase in retail prices, but the main reason is the removal of subsidies on oil which is propelling prices higher. A rice seller in India’s Hyderabad told Oryza, “Oil prices do fluctuate and have actually declined slightly in the past few days to the decline in international crude oil prices, but the same reductions cannot be carried forward by the transport companies and thus by sellers.”
The Indian government has said that high prices of rice is a concern and is considering steps to rein in prices. Today, the southern state of Tamil Nadu announced that it has procured about 100,000 tons of rice for sale in the open market at Rs. 20 per kilogram (about $370 per ton) through cooperative stores and special outlets to help control soaring rice prices in the state.
Meanwhile, rice stocks in the country remain at record levels. As of April 1, 2013, rice stocks in India’s central pool stood at around 35.46 million tons, the highest ever for this time of the year and about 2.5 times the required buffer and strategic norms of around 14.2 million tons.
Courtesy : http://oryza.com/content/retail-rice-prices-soar-india-despite-ample-stocks
Courtesy : The Hindu Business Line News Paper. Dt 16.4.2013
New Delhi, April 13:
India is mounting pressure on Russia, a growing importer of farm products, to lift the ban on rice and peanuts from the country imposed early this year and accept bovine meat tested in Indian-Government certified labs.
It has also invited officials from the country’s quality control department to visit India later this month to inspect the quality of rice and buffalo meat being exported from the country. With Russia emerging as a major buyer of farm products, especially of bovine meat and processed food, India wants it to remove existing restrictions hindering exports from India.
“We have just started the process of establishing a toe-hold in Russia’s fast growing market for farm produce and have run into quality issues. We hope to sort these out soon,” a Commerce Department official told Business Line.
India’s export of rice to Russia increased five times to $25 million in April-December 2012 compared to $4.5 million in the same period of the previous year before breaks were applied by the Russian Federal Service for Veterinary and Phyto-sanitary Surveillance (FSVPS) on exports in February this year.
The country placed a temporary ban on import of both rice and peanuts from India following detection of Khapra Beetle in Indian rice consignments.
“Strong measures have been taken since then by the National Plant Protection Organisation (NPPO) India in conformity with terms of a MoU signed with Russia in 2009,” the official said.
The NPPO has withdrawn the authority of the two officials issuing phyto-sanitary certification to Russia and suspended accreditation of the two pest-control organisations for fumigation of export consignments to Russia. It has also issued an advisory to all phyto-sanitary certification authorities directing them to be cautious and vigilant in carrying out inspection of exports to Russia. “We have now asked Russia to reconsider the ban. Detailed investigation in both cases of non-compliance is already underway and details would be shared with Russia soon,” the official said.
Courtesy : http://www.thehindubusinessline.com/industry-and-economy/agri-biz/india-...
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Courtesy : http://business.bhaskar.com/article/BIZ-only-60-bucks-recommend-increasi...