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RICE NEWS YOU CAN USE

Issue 6 - 01 Dec 2004

 

If you missed out on receiving any of the gifts from us, you may download the same at your convenience. Download link and instructions are at the end of this email.

Gift eBook of the Fortnight. Purana Qila-Delhi

Miscellaneous Rice News

Even without any sops from the government more than two million tonnes of rice has already been exported this year. About  20,000 tonnes of non-basmati has also been sold to Europe and the US. With Asian rice prices set to spiral further, Indian rice should become even more competitive in the coming months. However India’s rice exports are likely to drop by one million tonne in the current financial year as opposed to the previous fiscal in the absence of export subsidies.

World rice prices are expected to climb further next year because of an expected drop in exports from leading suppliers in the face of buoyant demand a leading international trader said on Thursday. "We believe the price is going up next year because China is no longer exporting and India is exporting less," Mamadou Ciss, managing director at Geneva-based Ascot Commodities, said. "Basically, for supply-demand worldwide, supply will be less. And demand, if anything because of the drought, will increase," he said on the sidelines of the World Rice Commerce conference. China has exported an annual 2 to 3 million tonnes over the past few years but eroding domestic stocks might prevent it from exporting in 2005.

Prices & Analysis

Prices (All prices in USD). 

Price of  New Crop Basmati Paddy is $ 350 PMT inclusive of expenses, which is much higher than expectations. 

Old Crop Raw Basmati Rice prices are ruling at $ 740 PMT ex factory in gunny bags.

Export Prices CNF Gulf Countries. In USD PMT, all prices tentative in 45/50 kg new jute bags (Sortexed) 

Old Crop

  • Raw Basmati   835

  • Parboiled Basmati  710

  • Pusa Raw  Not Available

  • Pusa Parboiled  Not Available

New Crop

  • Raw Basmati 790

  • Parboiled Basmati 640

  • Raw Pusa 660

  • Pusa Parboiled 550

  • Sharbati Raw  460

  • Sharbati Steam  470

  • Sharbati Parboiled 460

  • PR 106 Parboiled  340

Trade Reporting

 
No large trade reported. New Crop Raw Pusa Rice being sold in the market in large quantities at price ranging from $ 480/- to $515/-

Arrivals of all Paddy is now at the peak. About 15000 to 25000 Bags are being sold in each mandi every day. Arrivals of Sharbati Paddy is now dwindling. Expectation is that Pusa Paddy will last only till 15th Dec and Basmati till 30th Dec. 

Prices seem to have stabilised.

Recomendations

Only Old crop Basmati is now available. New crop rice is also now available. Prices above are high also since the rupee has strengthened. 

Now is the correct time to buy as the prices have now stabilised. Arrivals will gradually slow down, where after Exporters will have to buy from traders, who will charge their margins. 

Disclaimer

Though analysis & recommendations contained herein are unbiased & sincere views expressed by Jagat News Team, buyers are advised to use their personal experience, wisdom and discretion for making purchase decisions.

Please lookout for the next issue of Rice News You Can Use after a fortnight. 

We will be happy to supply you rice as per your requirement. Ask us for a quote when you want to buy next. 

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