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Jagat Agro

Commodities Pvt Ltd

802, 8th Floor, Ambadeep Building, 14  K. G. Marg Connaught Place, New Delhi - 110001

Telephones

91-11-41525377 

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91-11-41525344 

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RICE NEWS YOU CAN USE

Issue 27 - 10 July 2006

16 June 2006 was an eventful day for the Jagat family. The day marked two significant events.

1. The corporate office shifted into its new office in one of the prestigious locations in New Delhi i.e. to Ambadeep Building in Cannaught Place.

2. "Jagat Royal" the most premium brand of Basmati Rice was launched in the Indian Market.

Do please note the new address and telephone numbers. It is given on the left under Contact Us.

This month's eBook is The Truth About Osteoprosis. It is a must read particularly for women. Gift it to your friends. Its simple - simply mail them this newsletter. They can download it just like you can.

Farmers still awaiting the monsoon clouds

India's economic capital of Mumbai, has been hit by heavy rains this year too. We hope that the devastation of last year is not repeated. On the other hand farmers in the nation's agricultural belt are waiting anxiously for a downpour to sow their crops.

As per met forecasts, the monsoon rains in northern India, the country's food-bowl -- are likely to revive after the end of first week of July. The farmers in areas which have experienced patchy rains so far have been advised to to defer sowing of winter crops.

Rice sowing up from last year

As per government figures against last years figures of 432,000 hectares this year 499,000 hectares of land have been planted with rice between 1 to 12 June 2006.

Rice exports

Following rice exports have been reported during the last few weeks.

• Approximately 8,100 MT of brown parboiled rice to Italy at $256.76 PMT, cost and freight.

• Approximately 12,500 MT of parboiled rice to Bangladesh with delivery at Chittagong port.

• Approximately 95,053 MT parboiled rice, sold on both cost and freight and free-on-board basis to African countries, Italy and Bangladesh. The C&F prices for African countries ranged between $273 PMT and $286 PMT.

• The FoB sales of parboiled rice were in price range of $231 PMT-$258 PMT, majority of them being in range of $231-$248 PMT.

• Approximately 77,614 MT of white rice has also been exported. Most of these sales were on FoB basis in the price range of $211/PMT-$235 PMT.

''Geographical Indicator''(GI) brings India & Pakistan Closer Super Basmati keeps them Apart

As per a recent statement by the Indian Minister of State for Commerce India and Pakistan will seek to register Basmati rice as a ''Geographical Indicator'' (GI) in the US and Europe.

The government is working with Pakistan in this regard and the GIs would help increase the export value of the product and protect them from being duplicated.

The statement further said that "We must include a large number of agricultural products, handicraft products, tea in the GI," Mangoes are going to be an important part for the GI. We are going to export mangoes to the US and Japan.

As reported in our last newsletter The Indian commerce ministry had issued a notification 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. Inclusion of this on the Seed Act would completely deprive Pakistan of its exclusive rights on the commodity it has been enjoying for last two decades. Pakistan obviously does not like it.

Due to no fresh orders from Overseas Buyers, prices of all rice are weak except for Sharbati Rice.

Raw Basmati 2004-05 in short supply,  however limited quantity is available with us.

Prices (All prices in USD). 

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

No major trade reported.

Should cover up Basmati old stock.

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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