Rice

Dairy body to buy 150 tonnes de-oiled rice bran.

The rise of the US dollar value in currency exchange markets is leading to an increase in rice export volumes when compared to the previous financial year. Myanmar rice export has risen by about 25,000 tonnes compared to the export volume in the fiscal year 2015-16, he said. This year’s rice export is likely to go up to nearly 1.5 million tonnes.

Rice export behind target, to focus on quality in Myanmar.

Scientists in Kashmir Agricultural University has resulted in the revival of Mushkbudji, an aromatic variety of rice grown only in the Valley. The research of scientists led to the production of the pure line of Mushkbudji rice and the cooperation of over 400 farmers resulted in a relatively large scale production last year which is providing marketing support to the farmers cultivating Mushkbudji. State Agriculture department provided seeds and fertilisers to the farmers for free as part of the scheme to revive the Mushkbudji variety.

Research leads to revival of rare rice variety in J&K.

National Cooperative Dairy Federation of India will buy 250 tonnes of de-oiled rice bran and 50 tonnes of maize through a reverse electronic auction. De-oiled rice bran and maize are used as feed for cattle. The purchases would be made on behalf of Indian Immunological. National federation has nearly 200 dairy cooperatives as its member which has developed an online trading platform to purchase feed stocks and sell dairy products.

Dairy body to buy 250 tonnes de-oiled rice bran.

Thailand is expected to export 10,000 tonnes of long-grain white rice to Mexico soon after receiving a free import tariff quota from the Mexican govt. Mexico recently allowed zero tariff for 150,000 tonnes of imported long-grain white rice from March 2 to Dec 31 this year, as its government seeks to lower the country’s food costs and meet higher demand. Apart from Thailand, the Mexico has also granted the zero tariff for long-grain white rice to Argentina, India, Italy, Uruguay, Vietnam and the US. The country’s import tariff for rice is normally set at 20%. Mexican government has set a maximum 10,000 tonnes per company to get free import tariff.

Mexico offers zero tariff for rice import.

Rice basmati prices firmed up in the wholesale grains market due to pick up in demand. Bajra and maize also traded higher on increased offtake by consuming industries. HIgh demand from retailers against restricted supplies from producing regions mainly led to the rise in rice basmati prices.

Rice basmati up on rising demand in New Delhi.

In India, the world’s biggest rice exporter, 5% broken parboiled rice prices rise as demand improved from African buyers. Competition between exporters and local buyers is keeping paddy prices firm. Along with private buyers, govt agencies are actively buying paddy for the public distribution system, pushing prices up above the MSP. Country’s rice production in 2016/17 is likely to rise by 4.3 percent to a record high 108.86 million tonnes. In Vietnam, the world’s third largest rice exporter, 5% broken rice prices rise on thin supply near a new harvest season. Prices in Vietnam now are higher than other countries, keeping foreign importers from buying. Vietnam’s market was quiet but will be more lively once the harvest season starts by the end of this month. The harvest season will significantly raise supply, which in turn will ease prices.Thailand benchmark 5% broken rice narrowed to free-on-board, Bangkok. It was due to the Thailand baht weakening against the U.S. dollar. Thailand sold 1.35 million tonnes of rice from state stockpiles in its first auction of the year. There will be another auction for 3.66 million tonnes of spoiled rice for industrial use. Thailand has exported about 2 million tonnes of rice this year, down 2.05% from the same period last year. (Source : Times of India )

Rice prices in India and Vietnam advanced while Thailand prices dropped due to a weaker baht.

National Food Authority (NFA) is looking to import around 800,000 metric tons (MT) of rice this year under a government-to-government arrangement to cover the lean months in the third quarter. Critical stock levels of the staple grain in government warehouses and inventory in government warehouses was 400,000 MT. Stocks have thus fallen below the buffer stock the agency is mandated to maintain. Some places will have very tight supply by April and May. By end of June, the NFA’s buffer stock will be short so there is approval of the 250,000 MT importation which need to utilize by June this year and the remaining standby volume to cover the gap in buffer stock requirement. Of this total, only 250,000 MT has been activated with the top exporting countries, Vietnam and Thailand, clinching the bid.

Philippines estimates rice import requirement at 800,000 MT.