Rice

Rice output up 5.34% in Philippine.

The country was looking to import 250,000 tonne of rice from Vietnam. Rice output in Philippine is seen higher because of favourable conditions and no infestation so far. Philippine is among the largest importers of rice, buying mostly from neighbours Thailand and Vietnam.

Philippine may review rice imports on larger crop.

Pakistan will send 10,000 metric tonnes of rice to Sri Lanka which is facing its worst drought in four decades. The first shipment of the consignment will depart from Pakistan on March31 and reach Sri Lanka on 3rd April. Earlier, 25 metric tonnes of rice was airlifted to Colombo on February8 as immediate short term assistance.

Pakistan sends rice for drought-hit Sri Lanka.

Rice prices firmed in Thailand and India on stronger local currencies, while prices weakened in Vietnam as the country entered its peak harvest season. In India, percent broken parboiled rice prices rise by $2 per tonne to $373 to $378 a tonne this week, as gains in the rupee led exporters to raise prices. The rupee was near its highest level in about 18 months. Prices of the benchmark 5% broken rice rise to $350-$365 a tonne free-on-board (FOB) Bangkok from $350-$36 as the baht appreciated against the U.S. dollar, but demand has been low. In Vietnam, its main harvest season since late March, pushing down prices of the 5% broken rice to $348-$350 a tonne FOB Saigon from $350-$355. Vietnam rice exports are expected to fall 23.9% annually to 1.19 million tonnes in the first quarter, after its shipments of the grain dropped 26.5% in 2016 due to lower production caused by climate changes.

Rice prices rise in India, Thailand on stronger currencies.

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.

ICRA sees India FY17 basmati exports largely unchanged at 4 million tonnes.

Rice basmati prices firmed up at the wholesale grains market following pick-up in demand. Pick-up in demand from retailers against restricted supplies from producing regions, mainly led to the rise in rice basmati prices.

Rice basmati edges up due to increase in demand.

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.

Philippine farm minister says likely no need to import 250,000 T of rice.

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.

Jan-Mar recovery may lift India FY17 non-basmati rice exports 3-5%.

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.

Dairy body buys 4,500 tn de-oiled rice bran.

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.

Guyana cleared for paddy exports to Mexico.

India will need to produce 120 million tonnes of rice in 2030 to feed its one and a half billion plus population using less land, less water, less manpower and optimising all agri input usages. Cultivable land areas are expected to shrink and there will be pressure on resources. Rice is the staple food for more than 60% of Indians. The current production is about 106 million tonnes. (Source: Times of India)