Page 2 - Rice

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

After curbs, non-basmati rice exports fell sharper than basmati rice

Data shows that though initially non-basmati rice exports remained unaffected but it started dropping soon thereafter

Govt sells 7.1 mn tonnes wheat in open mkt to keep prices under control

The government on Wednesday said 71.01 lakh tonnes of wheat and 1.62 lakh tonnes of rice have been sold through auction so far in the open market to keep prices under control. "In order to increase the availability of wheat and rice in the open market and to control the prices of wheat and rice, the Government has been offloading wheat and rice in the market through weekly e-auction from June 28, 2023," an official statement said. A total of 101.5 lakh tonnes of wheat and 25 lakh tonnes of rice have been allocated by the central government for offloading under the Open Market Sale Scheme. Wheat is being offered at a reserve price of Rs 2,150 per quintal for Fair and Average Quality (FAQ) and Rs 2125 per quintal for Under Relaxed Specifications (URS). The reserve price of rice is being kept at Rs 2,900 per quintal. Till January 24, 2024, 71.01 LMT wheat has been sold under OMSS. The first e-auction of rice under OMSS for 2023-24 was held on July 5, 2023. Till January 24, 2024, 1.62

Rice export rates hit record highs on dwindling supplies, firm demand

Traders noted that domestic supplies are accumulating, and that harvest has begun partially in the Mekong Delta, which is expected to peak in March

No proposal to lift export curbs on wheat, rice, sugar, says Piyush Goyal

Union Minister Piyush Goyal on Saturday said there is no proposal before the government as of now to lift export curbs on wheat, rice and sugar. He also said the country will not import wheat and sugar. "There is no proposal as of now to remove export restrictions on wheat, rice and sugar. And India will not import wheat and sugar," Goyal told reporters. India had banned wheat exports in May 2022, non-basmati rice exports from July 2023 and extended curbs on sugar exports beyond October 2023, as part of measures to control rising domestic prices.

Slow purchases in some states drag rice procurement for central pool

Rice procurement for the central pool remains sub-par for the 2023-24 season starting in October due to slow purchases in Chhattisgarh, Telangana and Madhya Pradesh

Govt extends export ban on de-oiled rice bran till March-end 2024

The government has extended the export ban on de-oiled rice bran, a major ingredient in preparation of cattle and poultry feed, till March 31 next year, according to a notification. It was first banned in July this year. "Export prohibition of de-oiled rice bran is extended till March 31, 2024," the directorate general of foreign trade has said in a notification. According to experts, rise of prices of the feed is one of the major reasons for increasing milk prices in the country and putting a ban on the exports can help increase availability of the product in the domestic market, thereby containing rates. However, Solvent Extractors Association of India had earlier asked the government to reconsider its decision on banning the exports as the move is likely to have minimal impact on the prices of cattle feed and milk. As per estimates, in cattle feed, about 25 per cent rice bran extraction is used.

Per-acre expenditure cost of wheat, rice should be reduced: Nitin Gadkari

"In our country, the per-acre expenditure is more. So firstly, we need to reduce our per-acre expenditure cost," Gadkari said while addressing the Millionaire Farmer of India Awards 2023

Govt sells 284,000 tonnes of wheat, 5,830 tonnes of rice from buffer stock

The government on Thursday said it has sold 2.84 lakh tonnes of wheat and 5,830 tonnes of rice from its buffer stock to 2,334 bidders through an e-auction as part of efforts to control retail prices by offloading food grains in the open market. In an official statement, the food ministry said that the 21st e-auction was held on November 15, wherein 3 lakh tonnes of wheat and 1.79 lakh tonnes of rice were offered under Open Market Sale Scheme (OMSS) Domestic. The ministry said that 2.84 lakh tonnes of wheat along with 5,830 tonnes of rice were sold to 2,334 bidders. As part of the central government initiative for market intervention to control the retail price of rice, wheat and atta, weekly e-auctions of both wheat and rice are conducted by the government. The Food Corporation of India, the government's nodal agency for procurement and distribution of food grains, is offloading wheat from its buffer stock under OMSS. The ministry said the weighted average selling price was Rs ...

Farmers breathe sigh of relief as basmati prices increase

In India basmati production is estimated to be around 8-9 million tonnes of which more than half is exported annually

Govt maintains basmati rice floor price as grain export curbs continue

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

SC directs Centre to apprise it about rice fortification labelling norms

The Supreme Court has directed the Centre to apprise it about steps taken to comply with a provision of the Food Safety and Standards (Fortification of Foods) Regulations, 2018, that labels on bags containing fortified rice should carry an advisory that it is harmful for people suffering from sickle cell anaemia and thalassemia. A bench of Justice S K Kaul and Justice Sudhanshu Dhulia asked the Union of India to file an affidavit within four weeks and inform it about the action taken. "Counsel has entered appearance for the Union of India and will obtain instructions as to what steps have been taken in respect of the subject matter of the grievance in the present petition and as to whether any action has been taken on the representation already made by the petitioner(s). "An affidavit be filed in this behalf within four weeks. List immediately after four weeks," the bench said. The top court was hearing a plea filed by Rajesh Krishnan and others seeking compliance with clause 7(4)

Govt extends 20% tax on exports of parboiled rice until March 2024

The 20 per cent export duty on parboiled rice was imposed on August 25 till October 16 to maintain adequate local stock and keep domestic prices under check

Govt mulls extension of parboiled rice restrictions ahead of key polls

The govt is considering an extension to a 20% export levy, which is due to expire on Oct. 15, according to people familiar with the matter who asked not to be identified as the talks are confidential

Govt considers lowering minimum export price on rice to $850 per tonne

The government is considering reducing the minimum export price (MEP) of basmati rice to USD 850 per tonne from USD 1,200 per tonne at present. The issue was flagged by various food product importers here during a meeting with Commerce and Industry Minister Piyush Goyal. "We are very seriously looking at it. I have had many meetings with rice exporter associations in India. We have compiled the data of basmati rice exports to different parts of the world and different varieties of basmati rice," Goyal said. "And we hope that very soon we'll be able to come up with a very fair price, which all of the industry is very happy about," he told reporters here. He was replying to a question about whether the government is considering their demand to cut the MEP on basmati rice. The Indian rice industry has also demanded the same. Rajya Sabha member from Punjab Vikramjit Singh Sahney has also urged the Centre to rationalise the USD 1,200 per tonne minimum export price on basmati rice as i

FCI sells 189,000 tonne wheat, 5,000 tonne rice in 15th weekly e-auction

State-owned Food Corporation of India (FCI) sold 1.89 lakh tonne of wheat and only 5,000 tonne of rice to bulk consumers like flour millers in the 15th weekly e-auction held on Wednesday. Wheat and rice are being sold under the Open Market Sale Scheme (OMSS) to bulk users to improve the domestic availability and cool down retail prices. According to the food ministry, about 1.89 lakh tonne of wheat was sold in the weekly e-auction held on October 4 against 2.01 lakh tonne offered. However, FCI continued to get lukewarm response for weekly e-auction of rice under OMSS with traders purchasing just 5,000 tonne of grains against 4.87 lakh tonne offered. Wheat and rice were sold to 2,255 bidders during the e-auction. Around 2,447 empanelled buyers participated for both wheat and rice, the ministry said in a statement. The weighted average selling price was Rs 2,185.05 per quintal for fair and average quality (FAQ) wheat against the reserve price of Rs 2,150 per quintal, while the weigh

Pilot project of residue-free basmati being undertaken: Punjab Minister

The Punjab government has undertaken a pilot project under which residue-free basmati crop has been cultivated in Chogawan block in Amritsar district, state agriculture minister Gurmeet Singh Khudian said on Sunday. Residue-free practice entails minimal or no usage of chemicals. The initiative is aimed at promoting organic farming in the state as desired by Chief Minister Bhagwant Singh Mann, said the minister. The Chogawan block is popular for growing quality basmati rice. "Basmati rice has a great export potential as most of the grains produced in the region are being exported to the European and Middle-Eastern countries," said Khudian, while adding that presently, basmati rice is exported to more than 60 countries. Amritsar district alone contributed rice exports of around Rs 9,000 crore last year, he added. To increase the export potential of basmati rice from Punjab, Khudian stated that the state agriculture department has also launched an awareness campaign to sensitise far

FCI sells 166,000 tonnes wheat, only 17,000 tonnes rice via 11th e-auction

State-owned Food Corporation of India (FCI) has sold 1.66 lakh tonnes of wheat and only 17,000 tonnes of rice from the central pool through 11th e-auction last week as part of the Open Market Sale Scheme (OMSS) to control retail prices. Last month, the government announced it will offload additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market to bulk buyer to contain cereal prices. The food ministry, in a statement, said in the 11th e-auction held on September 6, a total of 2 lakh tonnes of wheat from 500 depots and 4.89 lakh tonnes of rice from 337 depots were offered from across the country. "In the e-auction, 1.66 lakh tonne of wheat and 0.17 lakh tonne of rice was sold," it said. The weighted average selling price was Rs 2,169.65 per quintal for FAQ (fair and average quality) wheat against the reserve price of Rs 2,150 per quintal pan-India, whereas weighted average selling price of URS (Under Relaxed Specifications) wheat was Rs

Mohali to Manila: Rice economy faces turmoil as El Nino turns up heat

The agriculture department is coordinating with the state's irrigation and energy departments to ensure optimum supply of water and electricity

Rice prices in Asia hit 15-yr high after India's 6-week campaign of curbs

Rice is vital to the diets of billions and contributes as much as 60% of the total calorie intake for people in parts of Southeast Asia and Africa