Rice Price

SEA urges govt to reconsider extending de-oiled rice bran exports ban

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

Myanmar releases Japanese exec arrested for selling rice above set prices

A Japanese business executive who was detained in Myanmar for more than a month has been released after being convicted of violating rice pricing rules, officials said Tuesday. Hiroshi Kasamatsu, a director of the Myanmar supermarket Aeon Orange, was in custody in Myanmar since his June 30 arrest for selling rice at prices above the official regulations. Japan's Foreign Ministry confirmed Monday that the Japanese national was convicted of violating law related to daily necessities and service. He was sentenced to one year in prison and fined 500,000 kyat (about USD 150). Kasamatsu was freed Monday afternoon, said Maj. Gen. Zaw Min Tun, spokesperson for the Myanmar's ruling military council. The Japanese Foreign Ministry said it was unclear if Kasamatsu would stay in Myanmar or return to Japan. He was released from custody and is in good health, it said, but declined to give further details. Rice is vital in Myanmar, a country struggling to stabilize its economy as civil war disrup

Centre extends sale of 'Bharat atta' and 'Bharat rice' at revised rates

The retail price for 'Bharat atta' and 'Bharat rice' has been revised for new stocks

High shipping costs impact Vietnam's rice rates; Indian variant steady

Demand continues to come in from regular customers in Indonesia and the Philippines, said a Bangkok-based trader, adding that new demand and additional crops would come in July

India considering to extend parboiled rice tax in risk to world supply

Any such move could add to the rally in benchmark Asian rice prices, which are hovering near a 15-year high after India began restricting sales of key varieties in 2023

Centre estimates 3.79% lower kharif rice production at 106.31 mn tonnes

The country's rice production is estimated to decline by 3.79 per cent to 106.31 million tonnes in the kharif season of the 2023-24 crop year (July-June) due to poor rainfall in key growing states, according to the Agriculture Ministry's latest estimates released on Friday. Rice production stood at 110.5 million tonnes during the same season in the previous crop year. Rice is the main kharif crop and its harvesting is underway. According to the first advance foodgrains production estimate released by the ministry, maize production is estimated to be 22.48 million tonnes in the kharif season 2023-24, lower than 23.6 million tonnes last year. Among pulses, tur production is expected to be slightly higher this year at 3.42 million tonnes as against 3.31 million tonnes the previous year. Moong production is estimated to be 1.40 million tonnes, lower than last year's 1.71 million tonnes. Oilseeds production is estimated to decline to 21.53 million tonnes from 26.15 million ...

Central govt's restrictions on rice exports puts wheat and sugar in focus

The curbs on rice now cover all varieties that the South Asian nation ships to overseas markets, further tightening global supply

33 rice mills in Maha's Gondia blacklisted for supplying poor quality rice

As many as 33 rice mills in Maharashtra's Gondia district have been blacklisted for next three years as the rice supplied by them has been found to be inferior quality and not fit for human consumption, officials said. Gondia Collector Chinmay Gotmare issued an order to this effect on August 4. According to an official of the Food Corporation of India, during an inspection by an FCI team, the rice from these mills supplied to Beed, Nandurbar, Latur and other districts last year under the public distribution system (PDS) was found to be of inferior quality. The team subsequently submitted its report to the Gondia collector. Gomtare said these mills have been asked to provide good quality rice in the next six weeks, or else legal action would be initiated against them.

Govt might lift the ban on white rice export soon as production increases

In September last year, India imposed a ban on broken rice exports and put a 20 per cent export tariff on non-basmati and non-parboiled rice, aimed at improving domestic supplies

Rice supply faces new threat as Thailand urges crop curbs to save water

Farmers in the key central region have already planted most of their rice but the government is encouraging a switch to other crops that need less water

Tepid response: Govt likely to tweak open-market sale policy for rice

16 of 17 states wanted Centre to retain stocks; K'taka giving cash in lieu of rice

FCI to sell 4.29 lakh tonne wheat, 3.95 lakh tonne rice in 3rd e-auction

State-owned Food Corporation of India (FCI) will sell 4.29 lakh tonnes of wheat and 3.95 lakh tonnes of rice from the buffer stock to bulk consumers in the third round of e-auction to be held on July 12. The government is offloading wheat and rice from the FCI stock under the Open Market Sale Scheme (OMSS) to bulk consumers to improve the domestic supply and control the retail price of rice, wheat and atta. In the third round of e-auction, the FCI will offer a quantity of 4.29 lakh tonnes of wheat from 482 depots and 3.95 lakh tonnes of rice from 254 depots from across the country, the food ministry said in a statement. FCI has come out with tenders in this regard. Interested parties may empanel themselves for participation in future e-auctions, it said. The FCI is encouraging more small and marginal end users to participate in the weekly e-auctions so that the stocks reach a wider section of the society, it added. In the previous e-auction conducted on July 5, a total quantity of

Wheat procurement breaches 26 MMT mark; surpasses last year's by 7.4 MMT

The ministry further added that 2.127 million farmers have already benefitted from the ongoing wheat procurement operations with a Minimum Support Price (MSP) outflow of about Rs. 47,000 crores

Rice over riots in Chhattisgarh: The paddy trade in Red hotbed

Over 2,000 farmers from the interior areas of the worst Maoist-infested Narayanpur district will be selling paddy for the first time at MSP at the procurement centres

Bridging the gap: Late rains likely to narrow paddy acreage shortfall

This acreage was, however, 1.13 per cent more than the normal area in which paddy is planted

Shortfall in Kharif output may keep rice prices at elevated levels

A 6-7 million tonnes shortfall in rice production due to a fall in paddy sowing area is likely to keep rice prices at elevated levels, adding to the inflationary pressure that the slowing economy is already grappling with. Elevated food prices, including that of cereals, had led to retail inflation reversing a three-month declining trend, to touch 7 per cent in August. Similarly, the wholesale price inflation, which declined to 11-month low, also showed price pressures from cereals resulting from wheat output being impacted by severe heat waves in some parts of the country. In addition to this, expectation of a lower paddy output - conservative by government estimates and higher if outside experts are to be believed - will keep inflationary expectations higher, experts and analysts believe. Erratic June-September rainfall and delayed withdrawal of South-West monsoon rains have added to concerns over paddy crop. India's rice production during the 2021-22 crop year, ended June, stoo

Rice prices soften in domestic markets after ban; exports may shrink by 25%

India, which commands 40% share in the global rice trade, exported 21.23 mt of rice in 2021-22, against 17.78 mt in the previous year

Export ban, duties to weigh on rice mill stocks in near-term, say analysts

Shares of LT Foods, Kohinoor Foods, KRBL, Chaman Lal Setia Exports, for instance, have declined in the range of 2 per cent to 9 per cent, as against 0.4 per cent gain in the Nifty50 index.

Govt to lift 51.8 mn tonnes rice in 2022-23, double coarse cereal purchases

Rice procurement a tad higher than 50.98 mn tonnes in 2021-22; market sources say this could be a sign that govt does not expect a major drop in Kharif rice output

Bangladesh to import rice from Vietnam and India to replenish reserves

Bangladesh is finalising deals with Vietnam and India to import a total of 330,000 tonnes of rice as it races to replenish reserves and cool domestic prices