Vietnam imports additional rice variants from India
India’s rice exports are anticipated to maintain the same momentum as year 2020.
As Vietnam resumed rice trade from India after years of procuring lower-priced 100 percent broken white rice, Vietnam has now started to purchase superior quality rice grades to cater to its other local rice demands. M Madan Prakash, Agri Commodities Exporters Association (ACEA) President stated that Vietnam is importing 5 percent broken white rice from India because Vietnam has decreased its production. Buying 5 percent broken white rice is utilized for supplying to its security armed forces and industrial users. As per B V Krishna Rao, The Rice Exporters Association (TREA) President, Vietnam is purchasing 10 percent broken white rice from India as well.
China has evolved as one of the top importers of Pakistani rice as indicated by the significant growth rate throughout the last 4 years. SM Naveed, President of Pakistan-China Joint Chambers of Commerce and Industry (PCJCCI) said this in a meeting with a delegate of a Chinese import and export company. SM Naveed also said that the rice export goal of around 10 MM MTS of IRRI-6 rice variants to China can be reached if continued efforts to promote Pakistani IRRI-6 rice to China were observed, concentrating on the requirement of rice buyers from China. SM Naveed added that new hybrid rice types were being studied in Pakistan which would give the highest production by applying minimum expenses for the period of water shortage. The Rice Research Institute had built new methods to grow rice through a broadcasting system as a substitute for manual seedling plantation. Under this method, if rice farmers succeed in placing 80K plants in a rice field, they will gain more production as well as saving input costs up to Rs 14K per hectare.
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.
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