Philippine farm minister says likely no need to import 250,000 T of rice.
Ram Gopal Yadav (7 years ago)

Philippine farm minister expects a bumper rice harvest this planting season, potentially meaning there is no urgent need for the state grains buyer to import 250,000 tonnes of the staple food as planned. The National Food Authority has been looking to import 250,000 tonnes of rice, and wanted the cargo to arrive by end-April to boost thinning stocks ahead of the lean domestic harvest season beginning July.

Jan-Mar recovery may lift India FY17 non-basmati rice exports 3-5%.
Ram Gopal Yadav (7 years ago)

Despite a fall in Apr-Jan, India non-basmati rice export growth may end in the positive territory in 2016-17 (Apr-Mar) due to a pickup in demand since January. The fall in export of non-basmati rice had narrowed to 2.6% in Apr-Jan from 6.5% in the first nine months of the current fiscal. Exports of non-basmati rice have picked up in last two months and overall exports are likely to be 3-5% higher than the previous year. The rise in exports may be due to higher output, growth in demand from African countries, and a rise in prices of basmati rice, market. In the previous year, India had exported 6.37 million tonnes of non-basmati rice, and in Apr-Jan 2016 the exports were at 5.21 million tonnes. India estimated to have produced 102.6 million tonnes of non-basmati rice in 2016-17 (Jul-Jun), up from 96.4 million tonnes a year ago.

Dairy body buys 4,500 tn de-oiled rice bran.
Ram Gopal Yadav (7 years ago)

National Cooperative Dairy Federation of India bought 4,500 tonnes of de-oiled rice bran in three lots through an online auction. The dairy body also bought 200 tonnes of polished rice through the auction. Both purchases were made on behalf of the Karnataka Milk Federation. The National Cooperative Dairy Federation of India, which has nearly 200 dairy cooperatives as its members, has developed an online trading platform to purchase feed stock and sell dairy products.

ICRA sees India FY17 basmati exports largely unchanged at 4 million tonnes.
Ram Gopal Yadav (7 years ago)

India exports of basmati rice are likely to be around 4 million tonnes in the current financial year that slightly down from 4.04 million tonnes last year. The country exported 3.25 million tonnes in Apr-Jan, down 5.3% on year. Demand from Iran has the potential to provide a fillip to India exports. Average realisations from exports for the current fiscal are likely to be lower at 210 billion rupees, against 227.2 billion in the previous year Prices of basmati rice rise by 20-25% during the recent three-month procurement season that ended December, due to lower supplies and firm demand. Output of basmati in India is estimated to have fallen 23% on year to 6.2 million tonnes in 2016-17 (Jul-Jun), due to a significant reduction in acre. Basmati rice exports is likely to grow to Rs 22,000-22,500 crore and volume to around 4.09 million tonne mainly supported by an increase in average realisations in FY18.

Govt imposes 10% import duty on wheat with immediate effect.
Ram Gopal Yadav (7 years ago)

Govt has imposed a 10% customs duty on import of wheat with immediate effect to restrict fall in their prices following a bumper crop in the country this year. Govt had scrapped the 10% import duty on wheat as supply in wholesale markets had dried up and prices had hit a record high. In the benchmark Indore market, wheat was sold lower than the MSP. After the removal of the duty in December, imports of wheat rise to a record 5 million tonnes in the current financial year.

Syria gets 50,000 tonnes of Russian wheat in aid.
Ram Gopal Yadav (7 years ago)

Syria has received 50,000 tonnes of Russian wheat as humanitarian aid. Russian govt said in November their country plans to send around 100,000 tonnes of wheat as aid to Syria. A deal struck in October for Syria to buy 1 million tonnes of Russian wheat with little known firm Zernomir is in jeopardy.

Govt to spend Rs225 billion on wheat procurement in Pakistan.
Ram Gopal Yadav (7 years ago)

Govt decided to purchase Rs225 billion worth of 7.05 million tonnes wheat, allow export of 200,000 tonnes of sugar and to pay one-month salary to Pakistan Steel Mill employees. The decisions were taken at a meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Minister Ishaq Dar.

Guyana cleared for paddy exports to Mexico.
Ram Gopal Yadav (7 years ago)

Guyana will now be able to bid on three quotas, totalling 30,000 metric tonnes of paddy for export to Mexico, following the Govt of Mexico decision to allow the tax-free importation of 150,000 metric tonnes of paddy and rice products from outside of the North American Free Trade Agreement(NAFTA) member states. Normally taxes for countries, other than NAFTA member states, trading with Mexico, are 9% on paddy and 20% on rice products.