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Jagat Agro

Commodities Pvt Ltd

5586, II Floor,
Lahori Gate

Naya Bazar
Delhi-110006

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RICE NEWS YOU CAN USE

Issue 20 - 10 December 2005

Rice exporters from Southern India have done good business in non basmati rice with South Africa and Nigeria. We are looking at doing business with you. Try us once to feel the pleasure of doing business with Jagat.

A well compiled eBook 35 Computer Tips, intended to ease   your use of the computer.

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Indian Rice for South Africa and Nigeria

India's non-basmati rice exports during April-August 2005 are estimated at 1.8 million MT, up from 0.7 million MT in the same period of 2004. 

Exports of basmati rice, during the period are estimated at 443,233 MT compared with 445,229 MT. 

The spurt in sale obviously is on account of the sale of 100,000 MT of rice to South Africa and Nigeria.

The rice was reportedly sold at $245-$255 PMT, free on board, with shipments from the east coast. Indian parboiled rice is more than $30 PMT cheaper than that of other origins such as 
Thailand, and this is egging up sales, particularly from the southern provinces 

Non-basmati rice exports are estimated at 360,861 MT in August, up from 120,336 MT in the year earlier period. Basmati rice exports are estimated at 91,161 MT in August, up from 71,653 MT. 

Total rice exports in August have increased to 452,022 MT from 191,989 MT. 

Expectation of Slowdown 

But things are likely to be pretty difficult from now on, as per the experts. One reason is that most of the buyers have bought the quantity required for them. Also, international buying has halted in view of the year-end holidays ahead. Trade is likely to be minimum or virtually nil until New Year. 

On the other hand, Thailand has cut its prices for the rice making things tougher for Indian exporters. Chances for export of white rice are, however, bleak. 

Prices (All prices in USD). 

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

Prices of 2005-06 crops are as under:-

• Sharbati Paddy $ 195 pmt.

• Pusa Basmati $ 235 pmt.

• Basmati Paddy $ 275 pmt.

No major business reported. 

Due to heavy arrivals in the market prices have shown a decline. Paddy and rice of Pusa/Basmati crop year 2004-5 is fast depleting. Those interested should buy earliest. 

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 month. 

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