Rice

Indian parboiled rice exporters saw a bearish tone towards the end of last week as domestic rice prices decreased extensively on account of limited coverings by foreign rice buyers. Combined with oversupplies and volatility in forex markets, rice traders believe that this bearish rally will continue for a while. Rice millers have also indicated a lower rice demand in the local section which will add to the bearish sentiment of rice price for the near period. One Indian rice exporter said that IR-64 5 percent broken white rice demand for new rice crop remains firm from Malaysia and Singapore, while old rice crop movement and arrival remains slow for most markets.

Indian non-basmati rice exports gained momentum

Additional port in India was opened to ease rice export cargo congestion.

The Rice Exporters Association (TREA), the trade body of Indian non-basmati rice exporters, remains bullish on the rice export market. BV Krishna Rao, President of TREA said that, India is the sought-after rice exporting country for the non-basmati rice variants as other major rice-producing countries are dealing with rice supply problems. He also stated that they expect overall rice shipments to be around 11 to 12 MM MTS in 2021. The East African nations are the new set of rice importing countries showing interest in Indian rice. Africa has been the leading market for the Indian non-basmati rice, which is also now being purchased in larger quantities by other rice importing countries such as China, Vietnam, and Bangladesh in 2021. The non-basmati rice has replaced basmati to emerge as the top commodity in India’s agri-export basket in price positions with shipments surpassing USD $3 Bn in the April-December period of the year 2020. The Indian Government's latest move to allow rice export through the deep-water port in Kakinada, turns out to be the major export center for non-basmati rice, which would improve the lead time of the shipments in the upcoming months.

Rice importing countries continue to purchase rice from India

India's paddy production is estimated to be 120 MM MTS for 2021.

According to the data from the US Department of Agriculture, Iran, one of the leading international purchasers of basmati and non-basmati rice, imported 12K MTS during 2020-21, as against 11,250 MTS in FY20. Other rice importing countries that have reported a noticeable increase in rice imports of different types of non-basmati rice between Apr’20-Dec’20 include Madagascar, Malaysia, Benin, Togo, and Senegal. The Ministry of Commerce and Industry anticipates a “major boost” in India’s rice export possibility, with APEDA’s promotion of Non-Basmati rice through partnerships with various stakeholders in the value chain. Non-basmati and basmati rice form a major part of APEDA’s export basket, with non-basmati rice accounting for 22.52 percent and basmati just about 20.99 percent of APEDA’s overall exports.

Global rice markets see a better demand from both Asia & Africa

India's non-basmati rice exports increased significantly between Apr'20 - Jan'21.

Indian parboiled rice markets remained flat with prices with limited rice exports. This has added to the bearish outlook on rice prices for the near term. While Indian white rice markets remained firm with limited offerings. For Indian IR 64 white rice fresh crop arrival remains limited. While Swarna white rice markets remain firm with stable deals. Rice purchasing is witnessed from rice importing countries from the Southeast Asian region. As per B.V. Krishna Rao, president of the Rice Exporters Association of India, Indian Railways has reduced freight for paddy rice transportation by almost 16 percent by modifying loading rules, which would help rice traders. He also added that rice exporters may possibly save USD $3 to $4 per MTS due to reduced freight costs.
Pakistan rice export markets see good demand for 100 percent broken rice in rice importing countries from Africa as well as in Asia. Rice exporters see a better potential with Far East markets for the near term. Overall Pakistan rice export market remains firm with a flat tone for deals on short positions.

Bangladesh to import rice from 3 major Asian rice exporting countries

Bangladesh Gov’t will procure 350K MTS of rice

Indian white rice exports continue to have a firm to bullish tone for the near term. Though rice trade is impacted by the unavailability of containers, rice exporters see a great possibility of trade from rice importing countries in Asia and the Far East. Rice export prices for Swarna white rice continue to be stable as the rice export prices of White rice IR-64 continue to be bullish for the near term.

The growing rice trade around the globe

Demand for Rice in the international market remains strong.

Indian parboiled rice exports saw a bullish turn added by instability in the foreign exchange market. Rice exporters saw limited deals as rice exporters struggled with container availability for rice importing countries across Africa. Rice exporters felt the grip of the blockage at the Suez Canal. Most of the rice exporters are witnessing a freight change along with contract withdrawals for rice buyers from African Region. IR-64 White Rice remains to be in demand from rice buyers from Southeast Asian States while Swarna white rice foresees lower rice demand compared to the previous week. And 100 percent broken white rice remains to have a great demand from rice importing countries from African regions as well as Southeast Asian Nations.

India: The “rice provider” to the entire world

India has exported rice to almost 170 nations including China and Vietnam.

Indian parboiled rice export saw a decline in movement over the week as major freight companies revoked services in the meantime for the West African region. As per freight forwarding companies, this shift was expected due to the Suez Canal blockage which would have required the operators to directly re-route some shipments and strategize the movement accordingly. Indian white rice exports continue to stay flat. Rice exporters are still considering the strain of container availability for major rice importing countries. IR 64 white rice fresh arrivals are seen on the west coast, India. While Swarna white rice availability in the market continues to be good. Rice export outlook stays bearish for the near term. And 100 percent broken white rice requirement remains unchanged.

Rice exporting countries maintain a high price variance

Demand for rice in the international market continues to rise.

Indian parboiled rice export market witnessed a sequence of dips in the rice price portion as the Rupee weakened to 75 levels (against 73) in early morning trade on April 12, 2021. The price opinions are mixed as rice exporters cheered and called this a correctional step. Rice exporters also looked into it as an opportunity for speculative rice export which may maintain rice prices under pressure in the near period. Indian white rice export markets continue to stay flat with more resistance to instability in the currency exchange market for long-grain white rice. Long grain rice demand continues to be below normal. Swarna white rice exports continue to stay flat to bearish as reduced rice demand remains from rice importing countries from Southeast Asia. 100 percent broken white rice export continues to stay flat to bearish on a narrow covering of short positions.

Vietnam imports additional rice variants from India

India’s rice exports are anticipated to maintain the same momentum as year 2020.

Indian parboiled rice trade continued to have a flat to a bearish outlook for the previous week. Rice exporters are seen to reveal a decline in rice price as the new paddy arrival is anticipated to start this week. rice exporters also believe that to maintain a stable rice price, food safety measures will be implemented by some of the states which will keep the prices in check. Restricted activities and regulated consumption may affect the rice demand in the local market. White rice trade continues to stay firm on domestic offers as arrivals are slow in the local market. One of the rice traders said that rice demand for export is good, but rice shipments may possibly get disturbed in the upcoming week if coronavirus cases continue to increase at the present pace. India witnessed the highest surge of 273,802 COVID-19 new cases until April 18, 2021.

Rice traders in India see growth in global market

India’s rice production for Mktg. yr. ’21- ‘22 is estimated to be 120 MM MTS.

Indian parboiled rice export witnessed further interference within the value chain as the effect of COVID-19 has led to lockdown measures being implemented in all parts of India. Rice exporters saw the impact to have long-term effects on the execution of shipments. Rice demand in the local market continues to be fragmented which will not affect the rice prices for the near period. Indian white rice export witnessed a limited requirement in the Southeast Asian rice importing countries as alternative markets offered lower prices. IR 64 White rice retained a below-average requirement for rice importing countries from Africa. Swarna White Rice continued to be stable as the requirement is above average. 100 percent broken white rice demand continues to be strong for African rice importing countries.

The increasing demand of Indian Non-Basmati Rice

Indian Rice shipments saw an increase of 132% between Apr’20 -Feb’21.

Indian parboiled rice export witnessed an average requirement for the previous week. While most rice traders continued to execute previously closed contracts, rice traders also witnessed the arrival of new rice crops throughout the major markets in the Central and South Indian areas. The new rice crop will maintain the rice export prices bearish for the near term. Rice exporters also witnessed restrictive actions for COVID-19 which affected deliveries in major rice importing destinations. Indian White Rice export demand remains firm in most top rice importing countries. New cargo arrival in the majority of markets has changed the price bearish for the short term.

India: Paradip port to Handle non-basmati rice export

After the Deepwater port in Kakinada, Paradip port in Odisha is the latest port to open for Indian rice export.

India: Paradip port to handle non-basmati rice export

Indian Parboiled rice exports witnessed a bearish outlook in terms of domestic demand however the exchange volatility has kept the rice export prices under pressure. Freight and space accessibility from the West Coast has eased while the East Coast is taking time to adapt considering the COVID-19 pandemic. Indian white rice exports remained firm with increased coverage for Vietnam & China rice buyers, while African markets continued to be slow in terms of rice export demand.

Bangladesh to import more rice from India via Railways

Rice supplies are increasing as the Food Corporation of India is releasing rice stocks from its warehouses.

Non Basmati

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Rice - Non Basmati (India)

Rice - Non Basmati (Pakistan)

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