Rice

Government had 23.08 million tonnes rice in its stocks as of Apr 1, higher than 22.16 million tonnes a year ago. Prices of the non-basmati variety of rice, Permal Raw, were unchanged from previous close, while prices of the steam variety of basmati rice, Pusa 1121, were also unchanged in major spot markets.

Paddy purchase at the official purchase centers in the current yasangi [rabi] may not touch the expected levels despite high yield as large quantities of fine variety grain is being transported to Karnataka to be sold at a higher price. Grade-A type arrived early from Bodhan, Varni, Kotagiri and Beerkur and Grade-B (common class) from Nandipet, Armoor, Balkonda and so on arrived at centers. At some places, it is still in a flowering stage. About 403 tonnes of Grade-B variety was transported to centers. As many as 78 purchase centers (all under PACS) as against the total of 240 were opened. The centers under MEPMA-2, IDCMS-4 and IKP-22 are yet to be launched. There is no dearth of gunny bags to pack the grain and 15 lakh bags were already distributed to PACs. Another, 35 lakhs were on hand. Indent was placed for yet another 50 lakh bags. The Government agencies mostly purchase Grade-B variety that is called IR-1010 at the MSP of Rs. 1,470 per quintal. Fine categories such as Ganga and Kaveri are unlikely to reach these official centers in large quantities. The Government allotted paddy for custom milling to 57 mills and considering another six mills for the purpose.

Rice production in West Bengal may reach 173 lakhs million tonnes by 2017-18 from the current level of about 148 lakh MT through increased usage of high yielding varieties, improving soil drainage, spreading rice-fish culture and taking other such measures, apex industry body. This high increase in the production definitely drop in the prices.

Over production of rice lead to sharp drop in prices in West Bengal.

In 2016, assam produced 52 lakh metric ton of rice and this year expectation is to have paddy harvest of around 75 lakh metric ton as production curve is on the upward trend, despite the attack of swarming caterpillars in the initial stage.

Paddy harvest in Assam expected to be 75 lakh metric tonnes in 2017

The National Cooperative Dairy Federation of India buy 3,000 tonnes of de-oiled rice bran through a reverse electronic auction. The commodity, used as cattle feed, bought on behalf of Karnataka Milk Federation. The federation has nearly 200 dairy cooperatives as its members, has developed an online trading platform to purchase feed stock and sell dairy Products.

Dairy body to buy 3,000 tonnes de-oiled rice bran.

Rice prices go up if government bans imports of the staple grain. Stopping all rice importation is a dangerous policy that lead to significant shortages and increased rice prices. And it needed to buy 490,800 tons of rice to boost its stockpiles that have fallen below the required level ahead of the July to September lean harvest season.

Rice prices to rise if imports stopped in Manila (Philippine).

Flash floods in the greater Sylhet region have taken its toll on farmers and created a shortage of paddy for small to medium-sized rice mills. The Haor areas in northern Sylhet account for nearly 10% of the total cultivation area of about 4.8 million hectares this year and the flooding has adversely affected about 140,000 hectares. The mills usually stock up near the end of the season, which is not happening this season due to unexpected floods and only the big millers are well stocked with paddy. It all boils down to is a rise in retail prices of coarse rise in Dhaka by nearly 6.5% over a week and there is upward price rise of such rice in other parts of the country.

Rice prices soar amid flash floods Sylhet (Bangladesh).

National Food Authority has appealed to the NFA Council to allow the importation of rice, as the deficit in its buffer stock stands at 9.8 million bags, equivalent to 490,800 metric tons (MT). NFA to maintain a buffer rice stock good to last for 15 days at any given time and for 30 days at the onset of the calamity-prone lean months, based on the daily consumption requirement of 32,150 MT. NFA needs an additional 490,800 MT of rice to meet the mandated volumes for food security. This additional stock to come from local produce, cannot compete with the private traders who are offering prices much higher than the government’s P17-per-kilogram support price.

National Food Authority in Philippine pegs deficit in govt rice stocks at 490,800 MT.

Rice prices edged up as large millers are cashing in on crop losses, caused by the recent flash floods in the greater Sylhet region, amid depleting stocks from previous harvests and low imports. In Dhaka, retail prices of coarse rice such as the swarna variety ise to a new level of Tk 40-42/kg, up 6.49% from Tk 37-40 a week ago. Prices of the medium and fine categories of the staple also went up between 1.96 percent and 4.65 percent in the last one week. The flood has affected 1.40 lakh hectares of paddy in the fields. Speculation over delayed harvest for the bad weather is another reason for the recent price spiral as farmers, small and medium millers and wholesalers do not have paddy stocks. Govt can reduce the import duty on rice to encourage imports and increase the supply in the market. Rice imports by private traders slumped 65 percent to 76,600 tonnes in July-March of the current fiscal year from the same time last year, after the government hiked the duty from 20% to 28% to ensure that growers get fair prices for their produce.

Rice prices rise on flash floods in Sylhet (Bangladesh).

According to Nigeria Customs Service, it has restricted the exit of rice from Free Trade Zone in the country to ensure total compliance to the ban on the importation of rice. Due to the high level of security along the border lines, some Nigerians were taking advantage of the status of the Free Trade Zone to smuggle rice into the country.

Customs restricts exit of rice from free trade zones Abuja (Nigeria).

All arrangements were made for procurement of paddy during Rabi season in the State to ensure minimum support price to farmers. Paddy procurement operations would commence from the next week. The arrangements for procurement of paddy in Rabi season stating that 3,076 paddy purchase centres were opened, during Rabi last year, the corporation procured 8.42 lakh MT of paddy through 1,288 purchase centres. Paddy purchase centres target of procurement of 37 lakh MT. Market arrivals of paddy will be 11.35 lakh MT in April 18.92 LMT in May and 7.57 LMT in June.

Telangana Govt all set to start paddy procurement.