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RICE NEWS YOU CAN USE Issue 53 - 30 Sep 2008 A hearty Eid Mubarak from all of us at Jagat Agro Commodities. Despite floods and late rains in some parts of the country, there are indications that this year's rice harvest will be better than last year's. Consequently, the government is likely to allow some special varieties to be exported.
This month's eBook is Benefits Of Papaya. Gift it to your friends. Its simple - simply mail them this newsletter. They can download it just like you can.
India
Rice Planted Area(1 Jun - 25 Sep) Up On Year - India's summer
sown area during the 1 Jun - 25 Sep 2008 was 37.97 million hectares, up from
36.73 million hectares a year earlier as per government data. The union finance minister, P Chidambaram hinted the early removal of ban from non basmati rice. The government has already allowed export of Pusa 1121 variety of rice.
Although local markets are steady, due to further weakening of rupee, downward shift is still persisting in export prices. New Crop Paddy arrivals are slowly gathering momentum. Ex Mandi Prices of Pusa Paddy about $ 450/- and Sharbati $ 300/- per tonne. Prices (All prices in USD). Export Prices CNF Gulf Countries. In USD PMT, all prices tentative in 45/50 kg new jute bags (Sortexed)(+-) Diff in Sea Freight. PRICES ARE EXCLUSIVE OF EXPORT DUTY OF $200/- PMT Export is now allowed for 1121
Exporters have still not decided to buy.
As end of season is approaching, buyers short in stock should cover now.
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. Please enable HTML viewing & Display Attached Images with Message in your browser if you are not seeing this mail correctly. Please
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