Home
|
Sitemap
|
FAQs
|
Contact Us
Product
Country
Menu
About Agri Exchange
Introduction
Apeda Agri Exchange
The Vision
Benefits / Facilities
To Exporters
To Buyers
Product Profile
Floriculture
Floriculture
Fruits & Vegetables Seeds
Fresh fruits & Vegetables
Fresh Onion
Other Fresh Vegetables
Walnuts
Fresh Mangoes
Fresh Grapes
Other Fresh Fruits
Others (Betel Leaves & Nuts)
Processed Fruits & Vegetables
Cucumber and Gherkins (Prepd. & Presvd.)
Processed Vegetables
Mango Pulp
Processed Fruits,Juices & Nuts
Pulses
Animal Products
Buffalo Meat
Sheep/ Goat Meat
Other Meat
Processed Meat
Animal Casing
Poultry Products
Dairy Products
Natural Honey
Caseins
Albumin (Eggs & Milk)
Other Processed Foods
Groundnuts
Guar Gum
Jaggery & confectionery
Cocoa Products
Cereal Preparation
Milled Products
Alcoholic Beverages
Miscellaneous Preperations
Cereals
Basmati Rice
Non Basmati Rice
Wheat
Maize
Other Cereals
Country Profile
United Arab Emirates
Saudi Arabia
Malaysia
Bangladesh
United States
Vietnam
Kuwait
Iran
United Kingdom
Indonesia
...View more country profiles
FTA's
Analytical Report on FTAs
Tariff Concession under FTAs
Statistics
International Trade
India's Export
India's Import
Production
International Production
India Production
Market Intelligence
e-Bulletin
Global Analytical Report
India's Export Analytical Report
Comparative Report On APEDA Products
Comparative Report On Principal Commodities
Import Tariffs
Import Regulations
SPS Notifications
DGFT : Public Notice, Notifications, Circular and Trade Notice
India Food Safety & Standards
Market Reports
Foreign Trade Policy 2023
Chapter 01 - Legal Framework and Trade Facilitation
Chapter 02 - General Provisions Regarding Imports and Exports
Chapter 03 - Developing Districts as Export Hubs
Chapter 04 - Duty Exemption Remission Schemes
Chapter 05 - Export Promotion Capital Goods (EPCG) Scheme
Chapter 06 - Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Chapter 07 - Deemed Exports
Chapter 08 - Quality Complaints and Trade Disputes
Chapter 09 - Promoting Cross Border Trade in Digital Economy
Chapter 10 - Scomet: Special Chemicals, Organisms, Materials, Equipment and Technologies
Chapter 11 - Definitions
Newsletters
Latest News
Latest Newsletter
Archives
Directory
Exporters
Service Providers
Logistics
Trade Leads
Submit New lead
Buy Leads
Sell Leads
Indian Mission Login
Market News
Indian parboiled rice prices surge as global buyers look to shift from white rice.
Aug 10, 2023
Prices of Indian parboiled (boiled) rice have increased by over $50 a tonne over the last couple of weeks on export demand following the government’s ban on shipments of non-basmati white (raw) rice.
Exporters were quoting prices between $460 and $500 a tonne (free-on-board), though some are wary of signing new deals as prices are swinging up and down on a daily basis.
On the other hand, trade sources said at least 1.7 lakh tonnes of parboiled rice are being shipped out of the Kakinada port this week, while many vessels have booked to call at the port to load rice shipments.
Thai continues to gain
The US Department of Agriculture (USDA) in its report on Thailand rice said export prices for all grades of rice increased by 5-10 per cent due to the strengthening of the baht and panic buying in the global market following India’s white rice shipments ban.
Thai rice export prices continue to increase with prices ranging between $15 and $45 a tonne higher than Vietnamese rice, compared to the typical price difference of $15-25/tonne, the USDA said.
'Parboiled rice is quoted at $475 a tonne. There is good demand for it from buyers of white rice, who are trying to shift since white rice prices are ruling over $550 a tonne,' said Delhi-based exporter Rajesh Paharia Jain.
'Parboiled prices were up until last week. They have cooled now to $460 as supply has increased. The downtrend will gain further over the next week,' said BV Krishna Rao, President, The Rice Exporters Association (TREA).
Daily price change
'F.o.b prices have touched $500 a tonne for parboiled rice. The market has gone crazy. Every day, prices are changing due to which not many transactions are taking place,' said VR Vidya Sagar, Director, Bulk Logix.
'Not many are willing to sign contracts with overseas buyers as they could get caught once prices change if they have commitments to meet,' said a trading source, without wishing to identify.
Sagar said he wasn’t signing any deals as prices are changing on a daily basis. 'Parboiled rice is quoted at ?40,000 a tonne ex-mill domestically,' he said.
'We got parboiled rice at ?37,100 a tonne. Export prices till top $500 a tonne over the next 7-8 days,' said Jain. 'We are seeing a shift from white rice as buyers are finding parboiled cheaper,' he said.
'There will certainly be a shift to parboiled rice but not fully. The current demand could be to test the variety, but not all will get converted to parboiled,' said TREA’s Rao.
Inflation control
There could be a 2-3 million tonnes (mt) of shift from white rice to parboiled, while Thailand and Pakistan could gain 2-3 mt of white rice market share. 'Another 2-3 mt could be lost out to demand restriction,' he said.
On July 20, the Government caught the global rice market by surprise, banning exports of white rice as part of its efforts to control rising foodgrain prices. The move is also seen as a measure to overcome any supply shortage.
Over the last two years, India has exported at least 17 million tonnes of non-basmati rice. On the other hand, rice stocks in the Central pool maintained by the Food Corporation of India (FCI) dropped to a seven-year low of 25.34 million tonnes in July. The agency has an additional 23.3 mt of unmilled paddy (15.72 mt of rice). The ban could result in rice shipments dropping by at least 6-7 mt.
thehindubusinessline.com
Archive