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rice market

12
Apr

Bulk buying keeps bullish trend intact in rice

Courtesy : The Hindu Business Line News Paper .Date 11.04.2013

10
Apr

As food subsidy bill weighs heavy, paddy MSP hike may be marginal

As against a massive hike of about 16 per cent in the minimum support price (MSP) of paddy last year, the Commission for Agriculture Costs and Prices (CACP) is learnt to have suggested little under 5 per cent hike for the next crop starting later this year.

Government sources said Monday CACP recommended MSP for paddy (common grade) at Rs 1,310 a quintal for the next kharif crop as against Rs 1,250 a quintal last year. This works out to be about 5 per cent hike in the paddy MSP.

The CACP has recommended similar hike of about 5 per cent for Grade-A paddy at Rs 1,345 a quintal as against Rs 1,280 per quintal for last year. This hike pales in comparison to Rs 170 per quintal hike (16 per cent) announced last year over the previous year.

The Rs 60 a quintal hike is likely to face opposition from BJP-ruled Chhattisgarh since the state, which has emerged as a major rice producing state, goes to polls later this year. Paddy MSP has become a major issue for Chhattisgarh politics with CM Raman Singh in his Budget speech this year announcing a bonus of Rs 270 a quintal for paddy procured last year. In the backdrop of Singh's bonus, paddy producers in Chhattisgarh would fetch Rs 1,520 a quintal for their crop produced last year. The Rs 60 a quintal proposed by the CACP would still make Rs 1,310 a quintal MSP for paddy this year — much less than what Chhattisgarh farmers would have availed for their crops last year. The BJP, consequently, may corner the government on the proposed meagre hike of paddy MSP pointing to the bonus granted to Chhattisgarh farmers last year.

Paddy sowing will begin from the onset of monsoon and the government announces MSP in advance to send a price signal to farmers to encourage them to cultivate the crop. But given rising food subsidy burden and the need for enhanced procurement to meet demands of proposed food guarantee law appears to be working heavy on the mind of policy planners that goes against the popular demand of substantial hike in MSP of crops.

Courtesy : http://www.indianexpress.com/news/as-food-subsidy-bill-weighs-heavy-padd...

9
Apr

Rice rallies as millers hold on to stocks

Courtesy : The Hindu Business Line News Paper. Dt. 09.04.2013

8
Apr

Philippines to Accept 2013 Rice Import Applications from April 10

The Philippines’ rice importing agency, the National Food Authority (NFA), will begin receiving applications for imports of 163,000 tons of rice on April 10, 2013. Licensed importers, farmer organizations and cooperatives are eligible to apply, said the NFA.

Importers are required to send their applications to the NFA Central Office's Grains Marketing Operations Department, fourth floor of the Philippine Sugar Center on North Avenue in Quezon City. Importers will also have to submit a letter of intent, an NFA import license, the supplier’s pro-forma invoice, registration with BOC’s i-CARE, letter of credit or equivalent, and its latest audited financial statement, according to local sources. The minimum import volume per applicant is 2,000 tons and the maximum limit is 5,000 tons. Preference will be given to importers who settle the advanced customs duties first.

The import quotas for different countries are as follows: Thailand (98,000 tons), China (25,000 tons), India (25,000 tons) and Australia (15,000 tons). The imports will be a part of the 187,000 tons of rice required by the country this year and will serve as buffer stocks for approximately six days.  The NFA is mandated to maintain buffer stocks for 30 days, and expects to procure most of the rice locally this year.

Courtesy : http://oryza.com/content/philippines-accept-2013-rice-import-application...

2
Apr

Rice rules steady ; brokens may rise

Courtesy : The Hindu Business Line News Paper Dt - 01.04.2013

22
Mar

Lacklustre trade drags all rice varieties

Courtesy : The Hindu Business Line News Paper. Date : 22.03.2013

21
Mar

17 paddy purchasing centres in Chittoor

Chittor : The Joint Collector Vinay Chand told to the mediapersons here on Wednesday that 17 paddy purchasing centres have been setup mostly in the eastern mandals of the district to procure paddy from the farmers during the Rabi season at a support price of 1280 quintal of fine varieties and Rs.1250 of ordinary varieties .

Courtesy : http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/17-pad...

19
Mar

Rice seen steady on domestic, overseas market

Courtesy : The Hindu Business Line News Paper. Date : 19.03.2013

8
Mar

Rice prices in a temporary downtrend

Courtesy : The Hindu Business Line News Paper. Date 08.03.2013

27
Feb

Global Rice Trade May Decline 6% in 2013, China Rice Imports Down 40%, Says IGC

Global rice trade could decline by about 6% from an estimated 38.3 million tons in 2011-12 to about 36 million tons in 2012-13, according to the International Grains Council (IGC).

In its February 2013 forecast, the IGC maintains the previous forecast for 2012-13 global rice production at 466 million tons, and says that global rice use is expected to increase 2% year-on-year. However, global trade is expected to decline this year as “key importers in Asia and Africa reduce purchases from last year’s highs,” says the IGC.

China’s rice import forecast for 2012-13 is revised to around 1.5 million tons, down about 6% from the previous forecast of 1.6 million tons and down about 40% from last year, according to the IGC. The IGC says that rice consumption in China is expected to increase to around 142.9 million tons this year, slightly lower than the expected production of around 142.5 million tons. However, China’s closing stocks this year is forecast to increase to a record 46 million tons, helped by high imports of around 2.5 million tons in 2011-12.

The IGC also forecasts Indonesia’s rice imports to decline to 1.1 million tons in 2012-13, down about 27% from around 1.5 million tons imported in 2011-12. Both Bangladesh and the Philippines are expected to increase rice imports slightly this year, to about 400,000 tons and 1.3 million tons respectively.
 
Courtesy : http://oryza.com/content/global-rice-trade-may-decline-6-2013-china-rice...

26
Feb

New enquiries support rice market

Courtesy : Hindu Business Line News Paper Dt . 26-02-2013

21
Feb

Brace for further rise in rice price

The production of major food crops, except a few, is set to be the lower during the current crop year (2012-13) compared to the previous two years. The fall in output already has its impact on the prices of rice and the staple food is likely get dearer further in the coming months.

Adverse seasonal conditions, power woes hit production by 25 lakh tonnes

Adverse seasonal conditions, problems in power supply and untimely rains have contributed to the decrease in the production of food crops. However, production of some food and cash crops such as maize, cotton, soya bean and others has shown marked growth. Besides, the output of millets has also increased since the cultivation of cereals could not be taken up in the normal extent.

The Bureau of Economics and Statistics has estimated the production of paddy to be about 105 lakh tonnes, put together the produce in both kharif and rabi seasons, this year against 129 lakh tonnes last year. Paddy has not been cultivated in over six-lakh hectares compared to previous year due to lack of water in irrigation projects and power problems. In 2010-11 paddy had a bumper harvest of over 144 lakh tonnes.

“Shortage in paddy production is likely to have serious impact on the price of rice which is already looking upwards and ranging between Rs. 40 and 45 a kg for good quality sona masuri variety. The government plans to supply ‘sanna biyyam’ (super fine variety rice) to white ration cardholders in some districts is likely to push up the price of quality rice further”, official sources said.

Courtesy : http://www.thehindu.com/news/national/andhra-pradesh/brace-for-further-r...

19
Feb

Farmers told not to sell paddy at less than MSP

The Civil Supplies Corporation has asked farmers not to dispose off paddy of average quality at less than the Minimum Support Price.

Civil Supplies Commissioner, in a release, said that all arrangements had been made to procure paddy from farmers at MSP by government agencies.

The State agencies had procured 8.9 lakh tonne of paddy till February 15 directly from the farmers. Millers also purchased 66.69 lakh tonne of paddy from the farmers at the MSP and above.

The farmers can contact the Joint Collector and the District Manager concerned and the Civil Supplies Corporation Vice-Chairman and Managing Director at 040 23310973 and the Commissioner at 040 23310617 if they face any problem.

Courtesy : http://www.thehindu.com/todays-paper/tp-national/farmers-told-not-to-sel...

15
Feb

Offtake ,enquires keep rice firm

Courtesy : The Hindu Business Line News Paper. Date : 15.02.2013

13
Feb

Sona Masoori rice at Rs.30 a kg

Hyderabad, Andhra Pradesh : At the instance of the government, special counters have been opened at Rythu Bazars and rice mills in the State to sell fine variety rice of Sona Masoori for Rs.30 per kg to bring down the prices in open market.

Through this market intervention, the government hopes that the stocks clandestinely hoarded to create an artificial scarcity will now be released into the market. Both Civil Supplies Minister D. Sridhar Babu and Chief secretary Minnie Mathew separately reviewed the situation regarding the essential commodities, particularly rice, here on Tuesday.

Mr Sridhar Babu said joint collectors had been directed to open at least 20 special counters, including those at Rythu Bazars, each in Hyderabad, Visakhapatnam and Vijayawada, and 10 each in other municipal corporations, five in municipalities and a minimum of one centre at each mandal headquarters town. These special counters should not display “no stock” boards and should instead, continue the sales uninterruptedly.

Courtesy : http://www.thehindu.com/todays-paper/sona-masoori-rice-at-rs30-a-kg/arti...

13
Feb

Sharp increase in procurement price of paddy

THENI, TAMILNADU : Paddy, a crop cultivated in the district, has fetched higher procurement prices this season indicating an increase in the price of rice in coming months.

Procurement price of fine paddy variety has been hovering between Rs.1,100 and Rs.1,200 a bag (61 kg) due to a sharp dip in production in Theni and in other parts of the State. Some traders pay even more to farmers at Palanichettipatti, at the far end of the Cumbum Valley.

The procurement price last year hovered between Rs.550 to Rs.650.

Following crop failure in major production centres, particularly in delta areas and Madurai district, paddy availability is limited to Theni district.

Traders from Virudhunagar, Madurai, Thanjavur, Theni, Tiruchi and Tiruvarur and Thiruvannamalai camp at Cumbum, Uthamaplayam, Chinnamanur and Theni to procure the entire production. Traders from other areas are ready to pay cash to farmers, whereas local traders seek credit, says S. Palanivel, a local trader.

Farmers unhappy

Despite an acceptable procurement price, farmers are not happy. The hike does not reflect our profit in view of the rise in overhead costs. It is not sufficient to settle accumulated debt, says P. Mani, a farmer of Uthamapalayam.

Courtesy :http://www.thehindu.com/todays-paper/tp-national/tp-tamilnadu/sharp-increase-in-procurement-price-of-paddy/article4409923.ece

5
Feb

Rice rules static on restricted trading

Courtesy : The Hindu Business Line News Paper. Date : 05.02.2013

29
Jan

Rice market turns bullish on lower inflow

Courtesy : The Hindu Business Line News Paper. Date:29.01.2013

28
Jan

Rice millers see bullish trend, begin to build stocks

Courtesy : The Hindu Business Line News Paper .Date :25.01.2013

22
Jan

Rice may rule at current levels this week

Courtesy :  The Hindu Business Line News Paper Date: 22.1.2013

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