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Jagat Agro

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5586, II Floor,
Lahori Gate

Naya Bazar
Delhi-110006

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RICE NEWS YOU CAN USE

Issue 26 - 11 June 2006

Do give us your suggestions to improve the content of the newsletter. We would like it to be as useful as we can make it.

This month's eBook is Magical Healing Properties of Wheatgrass. Gift it to your friends. Its simple - simply mail them the link to download it.

Global Buying Slow Due To High Rice Prices

With Pakistan running out of stocks, Indian white rice is witnessing some demand in the export market.

However, high prices for the grains are forcing buyers to go slow. Par-boiled rice exports, on the other hand, continue to be competitive with Thailand being out-priced by a minimum $50 PMT, according to trade sources.

But the problem is that prices are far higher than various governments are looking at "farm economics". Still, India has been able to gain better foothold in the white rice market.

On the par-boiled rice front, India's only competitor Thailand has priced its grain $50-60 higher. Plus to sell to countries in Africa and the Gulf, India enjoys a clear freight advantage.

India Formally Adopts  "Super" Basmati Rice

The Indian commerce ministry issued a notification on May 24, amending the Export of Basmati Rice (Quality Control and Inspection) Rules, 2003 to allow export of ‘super basmati’ from India as an evolved (hybrid) variety.

With this decision, Indian exporters could label and market this variety as basmati in the overseas sector. Basmati was yet to be notified by the Indian agriculture ministry under the country’s Seed Act, which until now prohibited its sale in the local market with the same brand name.

Pakistan previously had a monopoly over super basmati but the latest Indian ratification is likely to take away 40 per cent of Pakistan’s market share in the traditional Middle Eastern markets from the coming season by the variety at prices lower than offered by Pakistan.

New Rice Variety For High Altitude

The Sher-i-Kashmir University of Agriculture Sciences and Technology, Kashmir has developed a new rice variety, suitable for high altitudes.

This variety has a superior yield and is disease resistant.

Rice Production Estimates Increased

Rice production estimate in the current year to June 2006 have been revised to 89.88 million MT from the previous estimate of 87.86 million MT.

The estimate is higher than the previous year's output of 83.13 million MT.

Prices of all rice except for Basmati Rice are stable.

Raw Basmati 2004-5 is available only with few exporters.

Prices (All prices in USD). 

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

PR 11 Parboiled price was erroneously written as $325 instead of $425/- in the last month's prices. Error is regretted.

No major trade reported.

Should not wait any longer to buy for the season.

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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With regards from Jagat "Rice News You Can Use" Team)  

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