The increasing demand of Indian Non-Basmati Rice
Indian Rice shipments saw an increase of 132% between Apr’20 -Feb’21.
India’s rice export of Non-Basmati rice variant has increased from Rs 13,030 crore in Apr’19 – Feb’20 to Rs 30,277 crore in Apr’20 – Feb’21. This growth in non-basmati rice exports is because of various reasons, mostly Indian traders securing new deals with rice importing countries namely, Timor-Leste, Papua New Guinea, Brazil, Chile, and Puerto Rico. Rice exports were also shipped to Togo, Senegal, Malaysia, Madagascar, Iraq, Bangladesh, Mozambique, Vietnam, Tanzania Rep, and Madagascar.
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.
Vietnam's 5 percent broken white rice export prices remained unchanged at $485-$495 per MTS. As per one rice trader, rice export is slow as rice importers are expecting rice export prices to decrease further. Rice traders projected Vietnam's rice exports at 700K to 800K MTS this Apr’21, up from 539,040 MTS last Mar’21. Another rice trader said that rice exporters are concentrating on completing signed deals with rice importers from Cuba, Bangladesh, and Syria.
Thailand 5 percent broken rice export prices increased to $467-$500 per MTS from $465-$482 per MTS 2 weeks earlier, mainly because of the latest strengthening of baht against the U.S. dollar as per one Thailand rice exporter. He also added that rice prices have been increasing for a while due to higher shipping rates, affecting rice importers to buy limited quantities.
Bangladesh signed a memorandum of understanding (MoU) with Thailand to import rice up to 1 MM MTS every year until 2026, as stated by local food ministry officials.
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