Trending News

31st Mar 2021

India: The “rice provider” to the entire world

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

 

IRRI 6 Pakistan Rice

As the pandemic effect continues to change the entire supply chain structure in trading, Indian rice has become one of the most in-demand agricultural products to be traded worldwide. Kakinada port in Andhra Pradesh is taking a major role in exporting rice to African & Asian rice importing countries and that includes China and Vietnam. Various rice traders preferred Kakinada port for rice export. The seaport of Kakinada had a reputation for running rice trades to rice buyers from African countries and Bangladesh. But, last year 2020, numerous countries as well as Vietnam and China witnessed a rice supply shortage as operations were also negatively hit in the outcome of the COVID-19 pandemic. For the first time as per the shipment trade sources, Visakhapatnam and Kakinada deepwater ports began handling the rice shipment during the 2020-21 fiscal year. In addition, the seaports under the AP Maritime Board fetched Rs 280 crore as against the Rs 220 crore from the last year 2020. Out of this, Rs 40 crore in income came from the anchorage port.

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.

IRRI 6 PakistanVietnam rice export prices for 5 percent broken white rice increased to $515-$520 per MTS from the previous week’s $510-$515 per MTS. One rice exporter said that rice demand is increasing, and they are witnessing more vessels landing at Ho Chi Minh City port for rice loading. In addition, rice prices are anticipated to remain high as international rice demand is still strong amidst the pandemic. Rice exporters said that the Vietnam Southern Food Corp had earned an agreement to export 50K MTS of 5 percent broken white rice to Bangladesh. A food ministry official in Bangladesh said the country had approved the procurement of 100K MTS and 50K MTS of rice from India and Vietnam respectively.

Pakistan rice trade retained a subdued tone as there were minor inquiries. Rice exporters continue to foresee a good rice demand in Southeast Asian Nations along with China.

Tags: Listed Rice Companies in India, White Rice Price, Parboiled Rice Price, Rice Suppliers, Rice Buyers, Rice Market News, IR36-64 Rice Price, Top 10 Rice Exporters in India, 5 Percent Broken Parboiled Rice, 100 Percent Broken White Rice, 5 Percent Broken White Rice, 25 Percent Broken White Rice, Rice Export, Rice Import, India's Rice Export, Parboiled Swarna Rice, Swarna White Rice, IRRI6 5 Percent Broken, IRRI6 100 Percent Broken


Disclaimer: The information in this news is provided solely for informational purposes and Factrade is not liable for any actions taken based on this news. All information in this news is believed to be obtained from reliable resources and Factrade makes no representations as to its completeness or accuracy.