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India`s Rice Procurement Deficit Eases Amid November Surge By Amit Gupta, Kedia Advisory India's rice procurement has narrowed its deficit to 11% from 20% due to a 5.44% rise in purchases during November. As of November 17, total procurement stood at 148.93 lakh tonnes, with Punjab and Haryana being the largest contributors. While some states like Uttar Pradesh reported higher purchases, others, including Tamil Nadu and Telangana, saw declines. The government has raised its procurement target to 492.11 lakh tonnes for 2024-25, ensuring sufficient supplies. With ongoing effort...
India`s Rice Procurement Deficit Eases Amid November Surge By Amit Gupta, Kedia Advisory
India`s Rice Procurement Deficit Eases Amid November Surge By Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-11-19 11:32:34 am
Vietnam`s Rice Exports Reach Record Levels Despite Production Drop by Amit Gupta, Kedia Advisory Vietnam’s rice exports are set to hit a record 8.9 million tons in 2024, despite a decline in domestic production. This increase is largely due to heightened demand from international markets such as the Philippines, Indonesia, and Malaysia. Vietnam's rice import volumes from Cambodia have also increased, helping meet this export demand. Cambodian farmers have shifted to higher-yield Vietnamese rice varieties, driven by Vietnamese investment. The availability of Cambodian paddy rice...
Vietnam`s Rice Exports Reach Record Levels Despite Production Drop by Amit Gupta, Kedia Advisory
Vietnam`s Rice Exports Reach Record Levels Despite Production Drop by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-11-11 12:03:26 pm
India`s rice inventories hit record high, triples government target India's rice inventories surged to an all-time high of 29.7 million metric tons in November, sources said on Friday, nearly three times the government's target, as export curbs imposed over the past two years bumped up local supplies. Higher stocks would allow the world's biggest rice exporter to boost shipments without worrying about domestic supplies, which were limited last year and led New Delhi to restrict exports of all grades. Rice reserves in state granaries totalled...
India`s rice inventories hit record high, triples government target
India`s rice inventories hit record high, triples government target
Source: Reuters
2024-11-08 04:41:18 pm
Centre launches phase 2 of subsidised Bharat Atta, Rice to keep prices under control Pralhad Joshi, Union Minister of Consumer Affairs, Food and Public Distribution, on Tuesday launched phase 2 of the retail sale of subsidised Bharat Atta and Bharat Rice by flagging off mobile vans here.  The mobile vans belong to the National Co-operative Consumers' Federation of India (NCCF), the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and Kendriya Bhandar. As part of the government’s policy to keep inflation under control, Bharat Att...
Centre launches phase 2 of subsidised Bharat Atta, Rice to keep prices under control
Centre launches phase 2 of subsidised Bharat Atta, Rice to keep prices under control
Source: IANS
2024-11-05 02:21:37 pm
Indonesia considers importing 1 million tons of rice from India next year, minister says Indonesia is considering a plan to import 1 million metric tons of rice from India in 2025 to secure supply until its main harvest, Coordinating Minister for Food Affairs Zulkifli Hasan said after a meeting of food and agricultural officials on Tuesday. Indonesia's rice output is estimated to fall 2.43% this year to 30.34 million metric tons, due to a delay in planting and harvest season amid longer dry weather in 2023, the statistics bureau said earlier this month. "We need an...
Indonesia considers importing 1 million tons of rice from India next year, minister says
Indonesia considers importing 1 million tons of rice from India next year, minister says
Source: Reuters
2024-10-29 05:16:53 pm
India scraps parboiled rice export tax to boost shipments India scrapped the export tax on parboiled rice, the government said in an official order on Tuesday, as inventories in the world's biggest exporter of the grain surged and the country is set to produce a bumper crop after copious monsoon rains. Last month, India reduced the duty to 10% from 20% to boost exports, and gave the go ahead for exports of non-basmati white rice to resume. But New Delhi set a floor price for non-basmati white rice exports at $490 a metric ton. Prospects fo...
India scraps parboiled rice export tax to boost shipments
India scraps parboiled rice export tax to boost shipments
Source: Reuters
2024-10-23 09:26:58 am
Government removes floor price on basmati rice, farmers to benefit In a significant step to boost export of basmati rice, a premier GI variety rice of India, the government has removed the floor price on export of basmati rice, a move that will ensure good returns to farmers.  According to the ministry communication, it has been decided to remove the current minimum export price (MEP) of $950 MT for issuing registration-cum-allocation certificates (RCAC) for export of Basmati rice. The Agricultural and Processed Food Products Export Development Au...
Government removes floor price on basmati rice, farmers to benefit
Government removes floor price on basmati rice, farmers to benefit
Source: IANS
2024-09-14 12:15:37 pm
U.S. Rice Supplies Increase Slightly, Ending Stocks Rise for 2024/25 by Amit Gupta, Kedia Advisory The U.S. rice outlook for 2024/25 shows increased supplies as higher beginning stocks and imports offset lower production due to reduced yields, particularly in Texas. The average rice yield is down to 7,588 pounds per acre. Domestic use is slightly reduced but remains at a record level, while ending stocks are projected to rise by 2 million cwt to 45.6 million cwt. Globally, rice production and consumption are expected to increase, driven by higher yields in India, thanks to favorable monsoo...
U.S. Rice Supplies Increase Slightly, Ending Stocks Rise for 2024/25 by Amit Gupta, Kedia Advisory
U.S. Rice Supplies Increase Slightly, Ending Stocks Rise for 2024/25 by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-09-13 12:30:36 pm
Indian rice exporter GRM Overseas buys stake in Rage Coffee in push into new-age brands GRM Overseas, India's third-largest rice exporter, said on Wednesday that it bought a 44% stake in the parent of instant coffee maker Rage Coffee, as a part its move to invest in various new-age consumer brands. GRM, which mainly deals with rice, flour and edible oils, said it bought the stake in Swmabhan Commerce through primary infusion and secondary buyouts, but did not disclose financial details, citing confidentiality reasons. The company becomes the largest shareholder in thre...
Indian rice exporter GRM Overseas buys stake in Rage Coffee in push into new-age brands
Indian rice exporter GRM Overseas buys stake in Rage Coffee in push into new-age brands
Source: Reuters
2024-08-28 05:27:45 pm
GRM Overseas surges on launching new strategic platform `10X Ventures` GRM Overseas is currently trading at Rs. 264.95, up by 2.15 points or 0.82% from its previous closing of Rs. 262.80 on the BSE. The scrip opened at Rs. 267.65 and has touched a high and low of Rs. 276.25 and Rs. 262.20 respectively. So far 33411 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 286.15 on 19-Aug-2024 and a 52 week low of Rs. 114.15 on 13-Mar-2024. Last one week high and low of the scrip stood at Rs...
GRM Overseas surges on launching new strategic platform `10X Ventures`
GRM Overseas surges on launching new strategic platform `10X Ventures`
Source: Accord Fintech
2024-08-26 03:35:22 pm
GRM Overseas gains on entering into strategic partnership with Solariz Invest GRM Overseas is currently trading at Rs. 203.85, up by 1.90 points or 0.94% from its previous closing of Rs. 201.95 on the BSE. The scrip opened at Rs. 201.00 and has touched a high and low of Rs. 205.65 and Rs. 200.40 respectively. So far 8223 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 231.35 on 08-Sep-2023 and a 52 week low of Rs. 114.15 on 13-Mar-2024. Last one week high and low of the scrip stood at Rs....
GRM Overseas gains on entering into strategic partnership with Solariz Invest
GRM Overseas gains on entering into strategic partnership with Solariz Invest
Source: Accord Fintech
2024-08-08 02:02:41 pm
India exported non-basmati rice worth $123 million in April-May India exported non-basmati rice worth $ 122.7 million during April-May in the current financial year. The government is closely monitoring the production, availability and export situation to assess suitable policy intervention, as per Minister of State for Commerce and Industry Jitin Prasada's written reply to the Lok Sabha.  The non-basmati rice exports came down to $852.53 million in 2023-24, from $2.2 billion in 2022-23 and $2 billion in 2021-22, according to the data provided...
India exported non-basmati rice worth $123 million in April-May
India exported non-basmati rice worth $123 million in April-May
Source: IANS
2024-08-08 01:01:00 pm
U.S. and Global Rice Markets Set for Record Supplies and Increased Trade in 2024/25 By Amit Gupta , Kedia Advisory The U.S. rice outlook for 2024/25 anticipates increased supplies due to higher production and record imports. Domestic use remains unchanged, while exports and ending stocks are projected to rise. Globally, rice supplies, consumption, trade, and ending stocks are all expected to reach new heights, driven by record production in Pakistan and increased demand from countries like the Philippines.   Highlights Increased U.S. Rice Supplies: The 2024/25 U.S. rice supplies are projecte...
U.S. and Global Rice Markets Set for Record Supplies and Increased Trade in 2024/25 By Amit Gupta , Kedia Advisory
U.S. and Global Rice Markets Set for Record Supplies and Increased Trade in 2024/25 By Amit Gupta , Kedia Advisory
Source: Kedia Advisory
2024-07-13 09:19:26 am
Malaysia to request additional 500,000 metric tons of white rice from India Malaysia will submit an request to India to procure an additional 500,000 metric tons of white rice, its agriculture minister said. The request would be in addition to the 170,000 tons of white rice India has previously allocated to Malaysia for the year. India, the world's biggest rice exporter, had restricted shipments to offset inflation and ensure food security. According to state-run rice importer Bernas, Malaysia's annual rice consumption is 2.5 million metric tons, with a...
Malaysia to request additional 500,000 metric tons of white rice from India
Malaysia to request additional 500,000 metric tons of white rice from India
Source: Reuters
2024-03-28 10:48:05 am
Indian parboiled rice exports slow on confusion over duty calculations, dealers say  Indian traders are signing few new contracts for exports of parboiled rice after customs officials changed the calculation method for the 20% export duty, resulting in a higher duty, four industry officials told Reuters. In August, the world's largest rice exporter imposed a 20% duty on parboiled rice exports, following a ban on white rice exports to control domestic rice prices ahead of key state and national elections in 2024. Krishna Rao, president of the Rice Exporters Ass...
Indian parboiled rice exports slow on confusion over duty calculations, dealers say
Indian parboiled rice exports slow on confusion over duty calculations, dealers say
Source: Reuters
2024-03-07 09:10:27 am
Halder Venture shines on entering into agreement to acquire 100% stake in Hal Exim Halder Venture is currently trading at Rs. 266.10, up by 8.80 points or 3.42% from its previous closing of Rs. 257.30 on the BSE. The scrip opened at Rs. 265.85 and has touched a high and low of Rs. 266.10 and Rs. 257.35 respectively. So far 165 shares were traded on the counter. The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 372.00 on 12-Sep-2023 and a 52 week low of Rs. 241.20 on 13-Jun-2023. Last one week high and low of the scrip stood at R...
Halder Venture shines on entering into agreement to acquire 100% stake in Hal Exim
Halder Venture shines on entering into agreement to acquire 100% stake in Hal Exim
Source: Accord Fintech
2024-03-05 03:07:15 pm
India okays rice exports to Africa in outreach to Global South  The government has, as part of India's outreach to the Global South, allowed the exports of 1,10,000 tonnes of rice to three African countries to help them meet their food security needs. According to a notification issued by the Directorate General of Foreign Trade (DGFT), the export of 30,000 tonnes of non-basmati white rice has been allowed to Tanzania while 30,000 tonnes of broken rice have been permitted for export to Djibouti and 50,000 tonne to Guinea Bissau. Though exp...
India okays rice exports to Africa in outreach to Global South
India okays rice exports to Africa in outreach to Global South
Source: IANS
2024-03-04 03:28:50 pm
India`s rice output to drop for the first time in 8 years, government says India's rice production is set to fall for the first time in eight years in 2023/24 because of below average rainfall, while wheat production is expected rise 1.3% from a year ago, the government said in a statement on Thursday. Rice production in the world's largest exporter is being carefully watched after New Delhi banned exports of non-basmati white rice in July, sending global prices surging. Rice production is expected to fall to 123.8 million metric tons in the crop year ...
India`s rice output to drop for the first time in 8 years, government says
India`s rice output to drop for the first time in 8 years, government says
Source: Reuters
2024-03-01 11:26:25 am
Centre fixes 320 lakh tonnes wheat procurement target, 6 lakh tonnes for millets The Centre has fixed the estimates for wheat procurement during the ensuing rabi marketing season 2024-25 in the range of 300-320 lakh metric tonnes after carrying out consultations with the states, the Food Ministry said on Thursday. Similarly, the estimates for paddy procurement in terms of rice during the kharif marketing season 2023-24 (rabi crop) were fixed in the range of 90 - 100 lakh metric tonnes. A quantity of around 6 lakh metric tonnes of coarse grains /millets has also been...
Centre fixes 320 lakh tonnes wheat procurement target, 6 lakh tonnes for millets
Centre fixes 320 lakh tonnes wheat procurement target, 6 lakh tonnes for millets
Source: IANS
2024-02-29 12:51:46 pm
Exclusive-Vietnam imports husked brown rice from India for re-exports Vietnam has imported husked brown rice from India for the first time in decades to process the grain and export the refined, white variety, trade and government sources said, as Hanoi tries to cash in on strong global demand for the staple. Vietnam, the world's third biggest rice exporter, has imported at least 200,000 metric tons of husked brown rice from India between December and February, the sources said. Vietnam is receiving brisk export orders for rice after India, the world&...
Exclusive-Vietnam imports husked brown rice from India for re-exports
Exclusive-Vietnam imports husked brown rice from India for re-exports
Source: Reuters
2024-02-27 05:22:29 pm
Indian basmati rice processor KRBL`s Q3 profit drops on weak export demand KRBL reported a nearly 35% drop in third-quarter profit on Tuesday, hit by a weak demand for its India Gate basmati rice brand in international markets, leading to a 6.4% decline in its shares. Consolidated net profit was 1.34 billion rupees ($16.1 million) for the quarter ended Dec. 31, compared with 2.05 billion rupees a year earlier. The company marked its second consecutive quarterly profit decline, following five quarters of growth. Export revenue slumped 47%, the company said in a...
Indian basmati rice processor KRBL`s Q3 profit drops on weak export demand
Indian basmati rice processor KRBL`s Q3 profit drops on weak export demand
Source: Reuters
2024-02-13 04:01:09 pm
Government makes stock disclosure mandatory for rice traders, millers The Government of India has made declaration of stock position of rice/paddy mandatory for traders/wholesalers, retailers, big chain retailers and processors/millers. The initiative has been taken to manage the overall food inflation and to prevent unscrupulous speculation. The Ministry of Consumer Affairs, Food & Public Distribution said that this order will be implemented in all the states and Union Territories until further orders. The respective legal entities -- traders, who...
Government makes stock disclosure mandatory for rice traders, millers
Government makes stock disclosure mandatory for rice traders, millers
Source: IANS
2024-02-03 11:20:57 am
Indian curbs to propel Pakistan's rice exports towards record high  Pakistan's rice exports are likely to jump to a record high in the year ending in June as rival India's decision to curb its own shipments forces buyers to purchase more from Islamabad, which is offering the grain at nearly 16 year-high prices. The record exports are helping to alleviate tight supplies following the restrictions imposed last year by India, the world's biggest exporter, and will bolster Pakistan's depleted foreign exchange reserves, which are crucial f...
Indian curbs to propel Pakistan's rice exports towards record high
Indian curbs to propel Pakistan's rice exports towards record high
Source: Reuters
2024-01-30 02:23:23 pm
India`s farm exports to exceed $53 bn in 2023-24: Piyush Goyal  India's agricultural exports in 2023-24 will exceed last year’s level of $53 billion despite the restrictions imposed on overseas shipments of some commodities, Commerce and Industry Minister Piyush Goyal said on Monday. "We had agri exports in the aggregate of about $53 billion in 2022-23, and we expect the number to increase in the current year despite the restrictions placed on export of rice, wheat or sugar," Goyal said in his address at IndusFood Show 2024 he...
India`s farm exports to exceed $53 bn in 2023-24: Piyush Goyal
India`s farm exports to exceed $53 bn in 2023-24: Piyush Goyal
Source: IANS
2024-01-08 02:36:12 pm
Rice Revolution: Global Prices Soar 7% in a Month Amid High Demand and Seasonal Shifts by Amit Gupta, Kedia Advisory Amidst heightened demand and the close of the season, global rice prices have surged by 7%, reaching a 15-year peak. India's export restrictions and a short supply of 16 million tonnes have contributed to the spike, impacting prices in key rice-producing nations such as Thailand and Vietnam. Despite varied pricing strategies among nations, the trend is marked by a shortage in physical rice supply globally. With climate-related challenges affecting major producers, including India and Indo...
Rice Revolution: Global Prices Soar 7% in a Month Amid High Demand and Seasonal Shifts by Amit Gupta, Kedia Advisory
Rice Revolution: Global Prices Soar 7% in a Month Amid High Demand and Seasonal Shifts by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2023-12-27 02:24:51 pm
Indonesia secures rice import commitments from India, Thailand Indonesia's PResident Joko Widodo said on Friday his government has secured rice import commitments from India and Thailand to shore up supply for 2024. He said the country's food procurement agency Bulog has signed an initial deal for 1 million metric tons from India, while from Thailand, Indonesia has secured a commitment for 2 million tons. Jokowi, as the president is known, said while Indonesia's headline inflation is low, he remains concerned about food prices and impor...
Indonesia secures rice import commitments from India, Thailand
Indonesia secures rice import commitments from India, Thailand
Source: Reuters
2023-12-22 09:19:14 am
Indian trade curbs to cut exports by $4 billion, Red Sea attacks a risk India's exports face a shortfall of about $4 billion to $5 billion this year after it clamped curbs on trade in wheat, rice and sugar, a person familiar with the matter said on Thursday, adding that Red Sea attacks may also hit basmati rice shipments. The world's second-largest producer of wheat, rice and sugar, India has restricted exports of these commodities to rein in rising domestic prices. New Delhi may consider an alternate route along Africa for shipments of basmati rice...
Indian trade curbs to cut exports by $4 billion, Red Sea attacks a risk
Indian trade curbs to cut exports by $4 billion, Red Sea attacks a risk
Source: Reuters
2023-12-21 02:18:08 pm
Brisk export orders stoke new season basmati rice prices in India New season basmati rice prices in India have surged this year due to robust demand from the world's top buyers in the Middle East and Europe, forcing bulk buyers in wholesale grain markets to pay 10% to 15% more than last year. Last month's decision to cut a floor price for basmati rice exports to $950 a ton from $1,200 a ton has spurred a flurry of export contracts, boosting demand and pushing up prices in most wholesale markets of top grain growing states, farmers said. This m...
Brisk export orders stoke new season basmati rice prices in India
Brisk export orders stoke new season basmati rice prices in India
Source: Reuters
2023-11-29 08:59:50 am
India signs deals to export 500,000 tons of new season basmati rice  India has signed contracts to export about 500,000 metric tons of new season basmati rice to cash in on robust demand from top buyers in Europe and the Middle East, traders said on Wednesday. India annually exports more than 4 million tons of basmati - a premium long-grain variety famed for its aroma - to Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates and the United States, among others. Europe is another big market for the rice. After imposing a ban on non-basmati w...
India signs deals to export 500,000 tons of new season basmati rice
India signs deals to export 500,000 tons of new season basmati rice
Source: Reuters
2023-11-15 05:46:11 pm
Indian rice exporter KRBL posts Q2 profit drop on weak demand KRBL on Thursday reported a 28.1% drop in second-quarter profit as India's top exporter of branded basmati rice was hit by weakness in its mainstay agricultural segment. Consolidated net profit at the 'India Gate' basmati rice maker fell to 1.53 billion rupees ($18.37 million) for the quarter, from 2.13 billion rupees a year ago. The company's agricultural segment, which includes agricultural commodities like rice, furfural, seed and bran, accounted for about 95.2% of to...
Indian rice exporter KRBL posts Q2 profit drop on weak demand
Indian rice exporter KRBL posts Q2 profit drop on weak demand
Source: Reuters
2023-11-09 03:11:31 pm
India`s November rice stocks at state warehouses around double target India's rice stocks were around double its target at the start of November, government sources in the world's second-biggest producer country said on Thursday. Coupled with the new season crop that has started trickling into the market, the surplus indicates comfortable supplies for the domestic market. India, the world's biggest rice exporter, in July ordered a surprise halt to non-basmati white rice exports, its largest category, driving global prices to multi-year highs. ...
India`s November rice stocks at state warehouses around double target
India`s November rice stocks at state warehouses around double target
Source: Reuters
2023-11-09 09:48:33 am
India to extend free food grains programme by five years, says Prime Minister Narendra Modi India is planning to extend its free food grains programme by five years, Prime Minister Narendra Modi said on Saturday, as the government tries to shield consumers from rising prices of cereals ahead of a general election early next year. The extension will offer relief to consumers, but it will also lead to higher government spending and require New Delhi to procure more wheat and rice from farmers to sustain the welfare programme, which provides free grains to more than 800 million peop...
India to extend free food grains programme by five years, says Prime Minister Narendra Modi
India to extend free food grains programme by five years, says Prime Minister Narendra Modi
Source: Reuters
2023-11-05 08:48:13 am
Rice Procurement Dips 9% in October: Regional Variances and Challenges Unfold By Amit Gupta, Kedia Advisory In October, India's rice procurement by FCI saw a significant 9% drop, aligning with reduced production estimates for the 2023–24 season. While Punjab and Haryana faced mixed outcomes, with Punjab experiencing a 13% decline and Haryana a 2% increase, Uttar Pradesh doubled its procurement. This decline was influenced by factors like a rice millers' strike in Punjab and variable crop yields in different pockets. Despite these challenges, the government maintains its target to proc...
Rice Procurement Dips 9% in October: Regional Variances and Challenges Unfold By Amit Gupta, Kedia Advisory
Rice Procurement Dips 9% in October: Regional Variances and Challenges Unfold By Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2023-11-02 03:56:24 pm
India's smaller rice crop paves way for prolonged export curbs For the first time in eight years, India's rice output is expected to drop this year, raising the prospect that Prime Minister Narendra Modi's government will extend curbs on exports of the grain to keep a lid on food prices ahead of elections. Production in India, the world's largest rice exporter, is under unusually intense focus after New Delhi banned exports of non-basmati white rice in July, sending global prices surging. However, the state of the crop is hard to predic...
India's smaller rice crop paves way for prolonged export curbs
India's smaller rice crop paves way for prolonged export curbs
Source: Reuters
2023-11-01 03:36:21 pm
India`s summer-sown rice output expected at more than 100 million tonnes in 2023-24 India's summer-sown rice output, which accounts for more than 85% of its annual production, is expected to total 106.3 million tonnes in the 2023-24 crop year, the agriculture ministry said in its first production estimate. The country's overall summer-sown grains output is expected at 148.6 million tonnes in the 2023-24 crop year that began in July, it said in a statement. The ministry said it expects output of summer-sown pulses for the period at 7.1 million tonnes, lower than...
India`s summer-sown rice output expected at more than 100 million tonnes in 2023-24
India`s summer-sown rice output expected at more than 100 million tonnes in 2023-24
Source: Reuters
2023-10-28 08:45:45 am
MEP slashing on basmati rice relief to exporters: Punjab MP Punjab MP Vikramjit Singh Sahney on Tuesday appreciated the Centre's decision for revising the minimum export price (MEP) of basmati rce from $1200 to $950 per tonnes.This issue was raised by the Punjab Rice Millers and Exporters Association in an interaction with Chief Minister Bhagwant Mann, where Sahney was assigned the task to take up the matter with the Central government.Sahney had communicated to the Union Commerce Ministry that it was not a rational decision and it would have an adver...
MEP slashing on basmati rice relief to exporters: Punjab MP
MEP slashing on basmati rice relief to exporters: Punjab MP
Source: IANS
2023-10-24 02:27:43 pm
India maintains basmati rice floor price as grain-export curbs continue India said on Saturday it will maintain the floor price for basmati rice exports until further notice, according to a government order, as the world?s biggest exporter continues to curb overseas shipments of the grain.India imposed a $1,200 per ton minimum export price (MEP) on basmati rice shipments in August to calm local prices ahead of key state elections.A government order on Saturday said it would maintain the MEP, initially in place until Sunday, until further notice.The South Asian co...
India maintains basmati rice floor price as grain-export curbs continue
India maintains basmati rice floor price as grain-export curbs continue
Source: IANS
2023-10-14 05:24:00 pm
Government may lower basmati rice export price by $300 per tonne  The government may consider lowering the minimum export price (MEP) of basmati rice amid reports that Pakistan has set a price of $1,050 per tonne for the commodity.As per reports, the Centre may reduce the MEP on basmati rice by around $300 per tonne from the existing $1,200 per tonne to counter Pakistan's move.Union Commerce and Food Minister Piyush Goyal is learnt to have held a virtual meeting with basmati exporters, where the decision was apparently taken.According to reports, the ...
Government may lower basmati rice export price by $300 per tonne
Government may lower basmati rice export price by $300 per tonne
Source: IANS
2023-09-26 04:07:11 pm
India to cut floor price for basmati rice exports India will cut the floor price for basmati rice exports in the coming days, sources familiar with the matter said, after millers and traders complained about a sharp drop in overseas sales of the premium aromatic grain.India will lower the basmati floor price to $850 a metric ton, down from $1,200 a ton, to help millers and traders ship out the rice grade, said the sources, who didn't wish to be identified as they are not authorised to talk to media.Last month, India fixed the floor price, or...
India to cut floor price for basmati rice exports
India to cut floor price for basmati rice exports
Source: Reuters
2023-09-26 09:19:37 am