The country's agri exports are expected to cross USD 50 billion in 2024-25 on account of healthy demand and lifting on curbs on non-basmati rice, an official said on Tuesday. The official said export curbs on rice, wheat, and sugar impact agri exports to the tune of about USD 6-7 billion. "But now the curbs have been removed on rice, we expect that the agri exports will cross USD 50 billion. So far the trend is good, though the growth rate is not positive but as now rice is opened, by December-end, we will be in the positive zone," the official added. Rice exports are likely to reach 17-18 million tonnes this fiscal year as against 14-15 million tonnes last year. "It will give a big boost to exports," the official said, adding that basmati shipments may touch 5.5 million tonnes, while parboiled could be around 7-8 million tonnes and over 4 million tonnes of non-basmati rice. The main commodities, which are registering healthy growth included fruits, vegetables, meat and its produc
Last month India also 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
Export of white rice allowed at minimum export price of $490 per tonne; export duty on parboiled rice cut from 20% to 10%
India's exports were bigger than the combined shipments of the world's next four biggest exporters: Thailand, Vietnam, Pakistan and the United States
Stakeholders of West Bengal's rice industry on Saturday heaved a sigh of relief after the Centre removed the ban on overseas shipments of non-basmati white rice. The government's move is expected to help reopen 500-600 rice mills in the state, which had been closed for the past one year due to a slump in demand in the wake of export restrictions, Bengal Rice Mills Association president Sushil Kumar Choudhury said. The lifting of the ban on exports will also enable farmers to fetch better prices over the minimum support price (MSP), he said. "The removal of the export ban will not only boost the operation of rice mills but also improve the average realisation for farmers, which had been subdued in the past year. Of the 1,400-1,500 mills in West Bengal, 500-600 had been closed due to weak export demand and mounting losses," Choudhury told PTI. On average, each mill directly and indirectly employs around 500 people, he said. Earlier in the day, the government removed the blanket ban
Secretary Sanjeev Chopra says food prices to remain stable during festivals; mulls lifting curbs on non-basmati rice exports
The company becomes the largest shareholder in three-year-old Rage Coffee's parent, whose investors include Sixth Sense Ventures, and prominent figures such as cricketer Virat Kohli
The Solvent Extractors Association of India (SEA) has made a fresh appeal to the government to reconsider its decision to extend the ban on de-oiled rice bran exports until January 31, 2025. The industry body argues that the continued restriction is causing severe underutilisation of processing plants, particularly in eastern India. In a letter to its members, SEA highlighted the plight of rice bran processors in West Bengal, where plants are operating at low capacity or shutting down entirely. The association warned that this situation is negatively impacting the production of rice bran oil nationwide. "We once again appeal to the government to reconsider this matter and allow the export of de-oiled rice bran in the larger interest of the industry, rice millers, farmers, and the nation," SEA President Ajay Jhunjhunwala stated. The industry's concerns extend beyond the export ban. Recent instances of adulteration in rice bran oil and de-oiled rice bran with substances like dolomite
India's discount to Thailand and Vietnam's prices has narrowed, leading to lower exports
India has exported non-basmati white rice worth USD 122.7 million during April-May this fiscal and the government is closely monitoring its production, availability and export scenario to assess suitable policy intervention, Parliament was informed on Tuesday. The exports stood at USD 852.53 million in 2023-24, USD 2.2 billion in 2022-23 and USD 2 billion in 2021-22, Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha. He informed the export of non-basmati white rice is banned at present since July 20, 2023. However, export is allowed on the basis of permission granted by the government of India to other countries to meet their food security needs and based on the request of their government. Accordingly, Prasada said the export of non-basmati white rice has been allowed to the different countries. So far this fiscal, India has exported this rice to Maldives (1,24,218.36 MT), Mauritius (14,000 MT), Malawi (1,000 MT), Zimbabwe (1,000
India on Monday allowed the export of 1,000 tonnes of non-basmati white rice to Namibia through National Cooperative Exports Limited (NCEL). Though exports of non-basmati white rice have been banned since July 20, 2023, to boost domestic supply, exports are allowed on the basis of permission granted by the government to certain countries to meet their food security needs on request. "Export of 1,000 MTs of non-basmati white rice to Namibia is permitted through NCEL, " the Directorate General of Foreign Trade (DGFT) said. India's export of non-basmati white rice was USD 122.7 million in April-May and USD 852.53 million in the entire 2023-24. The country has earlier also allowed such exports to countries like Nepal, Cameroon, Cote D' Ivore, Guinea, Malaysia, Philippines, and Seychelles. NCEL is a multi-state cooperative society. It is jointly promoted by some of the leading cooperative societies in the country, namely Gujarat Cooperative Milk Marketing Federation (GCMMF), popularly
New Delhi is expected to lower the basmati rice's minimum export price (MEP) to $800-$850 a metric ton, down from $950 a ton, to boost shipments
GRM Overseas, one of the leading Indian basmati rice exporters, on Friday said it will raise Rs 136.5 crore through issue of share warrants on a preferential basis to 33 promoters and non-promoter investors. The company's board has approved the allotment of up to 91,00,000 share warrants at an issue price of Rs 150, including a premium of Rs 148 per warrant. The board has approved the fund raise of Rs 136.5 core through the issue of share warrants on a preferential basis to 33 promoters and non-promoter investors, according to a regulatory filing. "The fund raised will also be used for expanding the '10X' Brand in India, making it a comprehensive food FMCG product company. The funds will also be allocated to explore future inorganic growth opportunities, including strategic mergers and acquisitions, and improve operational capabilities," the company said in a statement. These activities may be undertaken directly by the company or through its subsidiaries or joint ventures. The ..
KRBL mainly sells packaged basmati rice domestically and in the export market, with 'India Gate' being its flagship brand
India on Wednesday raised the price at which it will buy new-season common rice paddy from farmers by 5.4% to 2,300 rupees ($27) per 100 kg
The government has permitted exports of 2,000 tonnes of non-basmati white rice to two African nations - Malawi and Zimbabwe. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) has said in a notification. Though exports of non-basmati white rice have been banned since July 20, 2023 to boost domestic supply, exports are allowed on the basis of permission granted by the government to certain countries to meet their food security needs on request. Malawi is a landlocked country in south-eastern Africa, while Zimbabwe is a South African nation. According to the notification, exports of 1,000 tonnes of non-basmati rice were allowed to each of the countries. "Exports of non-basmati white rice to Malawi and Zimbabwe though NCEL is notified," the DGFT said. India has earlier also allowed such exports to countries like Nepal, Cameroon, Cote D' Ivore, Guinea, Malaysia, Philippines, and Seychelles. NCEL is a multi-sta
Exports increased to 4.68 MMT in April-February, from 4.1 MMT during the same period, rising 14% in volume
Vietnam's markets will be closed from Monday through Wednesday for national holidays
India's 5% broken parboiled variety was quoted at $528-$536 per ton this week, down from last week's $538-$546. Prices hit a record high of $560 last month
The government has removed duty on the Kalanamak variety of rice for exports of up to 1,000 tonnes through six specified customs stations. The duty on overseas shipments of Kalanamak rice was 20 per cent. According to a notification by the Finance Ministry, the duty waiver on the export of up to 1,000 tonnes of this variety of rice will come into effect from Wednesday. The Directorate General of Foreign Trade (DGFT) on Tuesday had allowed exports of up to 1,000 tonnes of Kalanamak rice through specified customs stations. Kalanamak is a variety of non-basmati rice, exports of which were earlier prohibited. Exports of this variety of rice are allowed through six customs stations - Varanasi Air Cargo; JNCH (Jawaharlal Nehru Customs House), Maharashtra; CH (customs house) Kandla, Gujarat; LCS (land customs station) Nepalgunj Road; LCS Sonauli; and LCS Barhni.