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RICE NEWS YOU CAN USE Issue 55 - 26 Nov 2008 As per Analysts, Pakistan, the world's fifth-largest rice exporter, has become more price competitive than India due to a bumper rice crop and depreciation of the Pakistani rupee against the dollar.
This month's eBook is Benefits Of Pineapple. Gift it to your friends. Its simple - simply mail them this newsletter. They can download it just like you can.
Basmati
export likely to dip by 33% - As per the former All India Rice
Exporters Association President Gurnam Arora Basmati exports this year are
likely to fall to around 8 lakh tonnes from 12 lakh tonnes last year, as the
government made shipments expensive by imposing a cess of Rs 8,000 per tonne
along with high minimum export price, raising the rice prices for overseas
buyers.
Prices spurted up in early November due to large purchases by Iran. However they could not sustain and are now back to October prices. Ex Mandi Prices of Basmati Paddy is at about $ 625/- 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 $170/- PMT Pusa 1121 has been declared as Basmati. Hence
Export Duty will also be applicable on its export.
Large
quantities of 1121 Parboiled have been sold at $ 1250 plus Duty to various
buyers. Saudi Buyers are still refraining from the market.
Buyers should watch and cover.
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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