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We will be happy to supply you rice as per your requirement. Ask us for a quote when you want to buy next. 

RICE NEWS YOU CAN USE

Issue 61 - 02 Jun 2009

The new government in India is likely to take early and progressive decision on lifting ban on export of rice. 

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Miscellaneous Rice News

Monsoons Hit Indian Coast-According to the Indian meteorological department, the annual monsoon rains, vital for India's farm-dependent economy, have hit the country's southern coast raising hopes of early sowing of rice and other crops.

Industry experts feel that the early onset of the monsoons and forecasts of nearly normal rains, will help raise farm output, which may encourage the new government to lift curbs on rice exports, and allow futures trade in rice, which was banned amid fears of scarcity.

Monsoon rains are crucial for India's farm dependent economy and determines the fate of summer-sown crops like rice, soybean, sugarcane and cotton.

India Likely To Allow Non Basmati Exports -According to reports in the local media, the Indian government is likely to allow a further one million MT of non-basmati rice export to Africa, taking sales overseas sales to 2.5 million MT.

India had banned exports of non-basmati rice last year, joining other leading rice producers, which resorted to protectionist measures to stave off domestic shortages.

India recently allowed one million MT of non-basmati rice exports by state-run trading firms.

Higher MEP dents India's basmati export in 2008-09 - Higher minimum export price has dented the overseas sale of Indian basmati rice marginally by 3 per cent to 11.49 lakh tonnes during 2008-09 fiscal, compared to 11.83 lakh tonnes in the year-ago period.

Basmati rice export from India suffered due to an increase in minimum export price (MEP) to USD 1,200 a tonne, which not only made the aromatic rice expensive but also uncompetitive in the global market, according to rice exporters.

It was also pointed out that export cess of USD 200 a tonne, which was withdrawn in January this year after a gap of 10 months, made India uncompetitive as rival Pakistan was selling the aromatic rice cheaper by around USD 500 a tonne.

In 2008-09, the basmati rice shipments also include Pusa 1121 variety, which was the latest entrant to the elite aromatic rice group. The export volume of Pusa 1121 was estimated to be 40-50 per cent of the total Basmati export.

Since Pusa 1121 was notified as a Basmati rice variety only in October 2008, its shipment before that period is not included under Basmati rice category.

So, if shipment of Pusa 1121 is included, the export volume in 2007-08 would be much higher at about 18 lakh tonnes, exporters said.

The government had raised MEP on Basmati rice last year to curb exports and increase the domestic availability. It had also imposed export cess of USD 200 a tonne on the same.

Meanwhile, the export of non-basmati rice, which was banned for commercial purpose last year, stood at 7.44 lakh tonnes. India shipped non-basmati rice on humanitarian ground to few select countries.

The Centre first imposed a ban on rice export in October last year, but later lifted it by introducing an MEP on both Basmati and non-Basmati rice following protests by traders, exporters and farmers.

                       Details of Rice Exported

           Through Kandla Port during Apr 2008 & 2009

Basmati

Srl No. Destination Qty(MT) Value(In Lakhs)


Apr 2008
1.       S. ARABIA    86112        39119.16
2.       KUWAIT         7101         3259.5
TOTAL                   93213       42378.66

Apr 2009
1.      S. ARABIA      56627       38456.34
2.      KUWAIT          6184         5700.29
3.      USA              21805       12317.30
4.      IRAN               3853         2110.01
TOTAL                   88469        58583.94

Non Basmati

Srl No. Destination Qty(MT) Value(In Lakhs)


Apr 2008
1.     S. ARABIA          8018         798.19
2.     SIERRA LEONE   21052        1913.55
TOTAL                    29070         2711.74

Apr 2009 - No Exports from India

Prices & Analysis 

Prices of Sella 1121 continue to be in demand by Iran. Coupled with INR Rupee appreciating, export prices have risen considerably.

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 IF APPLICABLE

Crop                                 Year->

2007-08

2008-09 

Basmati

Raw Basmati 

1715

1610

Parboiled Basmati 

NA

1400

Raw Pusa  

NA

970

Pusa Parboiled 

NA

950

Pusa Steam

NA

990

Rice 1121 Steam

NA

1710

Rice 1121 Parboiled

NA

1450

Non Basmati

Sharbati Raw

NA

620

Sharbati Steam

NA

660

Sharbati Parboiled

NA

620

PR 106 Parboiled broken 5% 2/3 basis 

NA

445

PR 11 Steam

NA

605

Rice 11 Parboiled

NA

565

Rice 11 Raw

NA

540

 

Trade Reporting 

Large quantities of Sella 1121 purchased by Iranian Buyers at $ 1325/- to Rs 1350/-. India, with stable government has now got into an optimistic frame of mind. As Indian Export figures are down by 33% over last year May figures, the government is likely to lift the ban on Non Basmati Rice exports soon.

Recomendations 

Buyers should cover, as now no likely reasons for market to come down.

Disclaimer

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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