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
European nations, Egypt eye buying Indian rice as demand rises.
Feb 24, 2023
Indian rice continues to get good enquiries from the global market with European nations and Egypt joining the list of nations looking for the cereal from the sub-continent, traders say.
Reports from Cairo said Egypt’s General Authority for Supply Commodities (GASC) floated a global tender to import 25,000 tonnes of white rice and three of the four bidders offered Indian rice.
'European nations have emerged as new buyers of Indian parboiled rice. Enquiries are coming in from countries such as France,' said VR Vidya Sagar, Director, Bulk Logix.
Rise despite export tax
The demand for Indian rice is despite its offer prices ruling firm and Thailand cutting its rates by over $40 a tonne in the past month. Exports continue to be good despite the Indian government imposing a 20 per cent duty on shipments of white rice.
'We are seeing demand re-emerging for Indian rice after witnessing a slump in the past three months. Demand is for both white (raw) and parboiled (boiled) rice,' said BV Krishna Rao, President, The Rice Exporters Association of India (TREA).
'The Indian kharif rice crop is good. The Food Corporation of India (FCI) is set to meet its procurement target this year. Our exports of non-basmati rice should be able to top 18 million tonnes (mt) easily this year,' said New Delhi-based exporter Rajesh Paharia Jain.
Pak, Thailand gain
Despite the Indian government imposing a duty on exports of white rice and banning shipments of fully broken rice, rice exports, including Basmati, were estimated to have been 21.9 mt in 2022.
Pakistan and Thailand, whose exports jumped 22 per cent in 2022 to 7.69 mt from 6.3 mt in 2021, gained from the Indian curbs on rice shipments imposed from September 8.
Islamabad gained more from shipping rice, including broken rice to China. Earlier this week, the Thai Rice Exporters Association fixed an export target of 7.5 mt for 2023 despite the rise in exports.
Last week, the Ministry of Agriculture estimated rice production at a record high of 130.83 mt despite kharif production being projected lower by nearly 3 mt. On the other hand, the Food Corporation of India has procured 47 mt of wheat against the government’s target of 52.1 mt.
'Rice production has been made up by Telangana,' said Bulk Logix’s Sagar.
Still competitive
'Rice prices have stabilised of late, but there could be a further rise in prices as there is a supply shortage. Currently, prices have stabilised as Thailand’s new crop has entered the market and it has cut prices,' said a New Delhi-based trade analyst.
Despite Thailand cutting prices by nearly 10 per cent over the past month, Indian rice is still competitive, said Jain. 'We will still be the number 1 exporter despite curbs on shipments. We are seeing demand from African nations, but the movement of white rice is less,' said Sagar.
'The Centre is also gaining from exports as it gets the duty on shipments,' said Rao, adding that despite cutting prices, Thailand did not pose any problem to Indian rice.
M Madan Prakash, President, Agri Commodities Exporters Association, said supply was slow to ports, especially on the western coast. 'There are issues with Customs in sending feed quality,' he said.
Rao said Thailand was willing to lower its parboiled rice price to $460, while Sagar said Indian parboiled is quoted at $390-410 a tonne.
According to the Agricultural and Processed Food Products Export Development Authority, non-basmati exports in the first nine months of the current fiscal were 13.17 mt valued at $4.66 billion compared with 12.59 mt valued at $4.51 billion a year ago.
Rice prices have increased in the global market on projections of the lower crop in India, Pakistan, China and Bangladesh. On the other hand, Indonesia and the Philippines have begun buying significant volume in the market.
thehindubusinessline.com
Archive