Day: June 15, 2017

Myanmar exported over 180,000 tonnes of rice worth over US$59 million in May, including over 72,000 tonnes of rice worth over $21 million. The country exported 39,115 tonnes of white and parboiled rice worth $11 million from May 28 to June 3 via sea routes: 6,430 tonnes of Emata rice to Bangladesh, 450 tonnes of parboiled rice and 150 tonnes of Emata rice to Russia, 625 tonnes of Emata rice to Madagascar, 250 tonnes of Emata rice to Andorra, 1,000 tonnes of Emata rice to Togo, 7,548 tonnes of Emata rice to Singapore, 20,000 tonnes of Emata rice to Côte d’Ivoire, 2,564 tonnes of Emata rice and 50 tonnes of parboiled rice to EU countries, and 48 tonnes of Emata rice to Sri Lanka.

Bangladesh buy 50,000 tonnes of parboiled rice at $470 per tonne and another 200,000 tonnes of white rice at $430 per tonne.

The demand for Vietnam 5% broken rice, has been rising, hitting US$390 per tonne in the early days of June, against US$360 per tonne to US$380 per tonne in late May. This is the highest price since December 2014. A tonne of 5% broken rice in the domestic market stood between VND7.65 million (US$340) and VND7.75 million in early June, up VND550,000 (US$24) per tonne against last month.

Bangladesh is expected to be the world fourth largest rice producer in 2017. The FAO forecast that the biggest rice producer this year China with 142.3 million tonnes, followed by India with 110.4 million tonnes, Indonesia, Bangladesh and Vietnam. Global rice output is likely to increase by 0.7 per cent to 502.3 million tonnes. After two years of decrease, global rice exports are predicted to expand by 5 per cent in 2017 to 44.2 million tonnes compared with 43.6 million tonnes in the previous year, with India expected to remain the largest rice exporter. Global rice prices have been stabilised since early 2017 due to increasing demand and currency reforms in India and Thailand.

State-run National Food Authority (NFA) is set conduct in the first week of July the bidding for 250,000 metric tons of rice supposedly to beef up government buffer stocks during the lean months.

The Department of Trade and Industry (DTI) has confirmed that a variant of commercial well-milled rice is being sold for more than P5,000 per sack in conflict-stricken Marawi City. The brand Happy Meal Well-Milled Rice was being sold in Marawi costs P5,600 per 25-kilogram sack. Other commercial rice products are available in the Lanao del Sur provincial capital at lower prices, generally costing up to P50 a kg.

Rice basmati prices fell further by up to Rs 200 per quintal at the wholesale grains market today owing to fall in demand against adequate stocks position. In the national capital, rice basmati common and Pusa 1121 variety slipped to Rs 6,600-6,800 and Rs 5,500-5,800 from previous levels of Rs 6,800-7,000 and Rs 5,600-5,900 per quintal, respectively.

The area under paddy has come down from roughly 30.46 lakh hectares during the last season to 28.45 lakh hectares now. Going against the guidelines issued by the Agriculture Department, Punjab farmers in several villages have started transplanting paddy. As per the Sub Soil Water Conservation Act the Agriculture Department would destroy the paddy if is transplanted even a single day before June 15 and the farmer would be made to pay for it. Many farmers also believe that the labour is easily available during the initial days and thus it is convenient for them to transplant paddy on time.

Heavy monsoon showers that caused flash flooding in certain parts of Assam are likely to hamper production of paddy in the state. Most farmlands are submerged under water, causing threat to paddy seeds sown in the fields. During the first 13 days of the Jun-Sep monsoon season, Assam and Meghalaya received 148.9 mm of rainfall, while it received 94% above-normal rains on tuesday.