Page 3 - Rice Export

Indian rice export rates fall on muted demand, prospects of higher supply

India's discount to Thailand and Vietnam's prices has narrowed, leading to lower exports

India exports $122.7 mn worth non-basmati white rice during Apr-May

India has exported non-basmati white rice worth USD 122.7 million during April-May this fiscal and the government is closely monitoring its production, availability and export scenario to assess suitable policy intervention, Parliament was informed on Tuesday. The exports stood at USD 852.53 million in 2023-24, USD 2.2 billion in 2022-23 and USD 2 billion in 2021-22, Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha. He informed the export of non-basmati white rice is banned at present since July 20, 2023. However, export is allowed on the basis of permission granted by the government of India to other countries to meet their food security needs and based on the request of their government. Accordingly, Prasada said the export of non-basmati white rice has been allowed to the different countries. So far this fiscal, India has exported this rice to Maldives (1,24,218.36 MT), Mauritius (14,000 MT), Malawi (1,000 MT), Zimbabwe (1,000

Govt permits export of 1,000 tonnes non-basmati white rice to Namibia

India on Monday allowed the export of 1,000 tonnes of non-basmati white rice to Namibia through National Cooperative Exports Limited (NCEL). Though exports of non-basmati white rice have been banned since July 20, 2023, to boost domestic supply, exports are allowed on the basis of permission granted by the government to certain countries to meet their food security needs on request. "Export of 1,000 MTs of non-basmati white rice to Namibia is permitted through NCEL, " the Directorate General of Foreign Trade (DGFT) said. India's export of non-basmati white rice was USD 122.7 million in April-May and USD 852.53 million in the entire 2023-24. The country has earlier also allowed such exports to countries like Nepal, Cameroon, Cote D' Ivore, Guinea, Malaysia, Philippines, and Seychelles. NCEL is a multi-state cooperative society. It is jointly promoted by some of the leading cooperative societies in the country, namely Gujarat Cooperative Milk Marketing Federation (GCMMF), popularly

Govt plans to ease rice export curbs as stocks surge to record level

New Delhi is expected to lower the basmati rice's minimum export price (MEP) to $800-$850 a metric ton, down from $950 a ton, to boost shipments

Rice exporter GRM Overseas to raise Rs 136.5 cr via issue of share warrants

GRM Overseas, one of the leading Indian basmati rice exporters, on Friday said it will raise Rs 136.5 crore through issue of share warrants on a preferential basis to 33 promoters and non-promoter investors. The company's board has approved the allotment of up to 91,00,000 share warrants at an issue price of Rs 150, including a premium of Rs 148 per warrant. The board has approved the fund raise of Rs 136.5 core through the issue of share warrants on a preferential basis to 33 promoters and non-promoter investors, according to a regulatory filing. "The fund raised will also be used for expanding the '10X' Brand in India, making it a comprehensive food FMCG product company. The funds will also be allocated to explore future inorganic growth opportunities, including strategic mergers and acquisitions, and improve operational capabilities," the company said in a statement. These activities may be undertaken directly by the company or through its subsidiaries or joint ventures. The ..

India's basmati rice exports might remain flat in FY25, says KRBL CFO

KRBL mainly sells packaged basmati rice domestically and in the export market, with 'India Gate' being its flagship brand

Rice export prices climb to near three-month high as demand picks up

India on Wednesday raised the price at which it will buy new-season common rice paddy from farmers by 5.4% to 2,300 rupees ($27) per 100 kg

Govt allows 2,000 tonnes non-basmati white rice exports to Malawi, Zimbabwe

The government has permitted exports of 2,000 tonnes of non-basmati white rice to two African nations - Malawi and Zimbabwe. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) has said in a notification. Though exports of non-basmati white rice have been banned since July 20, 2023 to boost domestic supply, exports are allowed on the basis of permission granted by the government to certain countries to meet their food security needs on request. Malawi is a landlocked country in south-eastern Africa, while Zimbabwe is a South African nation. According to the notification, exports of 1,000 tonnes of non-basmati rice were allowed to each of the countries. "Exports of non-basmati white rice to Malawi and Zimbabwe though NCEL is notified," the DGFT said. India has earlier also allowed such exports to countries like Nepal, Cameroon, Cote D' Ivore, Guinea, Malaysia, Philippines, and Seychelles. NCEL is a multi-sta

Basmati rice exports rose 22% till February FY24 on West Asia demand

Exports increased to 4.68 MMT in April-February, from 4.1 MMT during the same period, rising 14% in volume

Rice prices at three-month low on shrinking demand, ample supplies

Vietnam's markets will be closed from Monday through Wednesday for national holidays

Rice export prices fell to 3-month low on shrinking demand, ample supplies

India's 5% broken parboiled variety was quoted at $528-$536 per ton this week, down from last week's $538-$546. Prices hit a record high of $560 last month

Govt waives duty on export of 1,000 tonnes of non-basmati kalanamak rice

The government has removed duty on the Kalanamak variety of rice for exports of up to 1,000 tonnes through six specified customs stations. The duty on overseas shipments of Kalanamak rice was 20 per cent. According to a notification by the Finance Ministry, the duty waiver on the export of up to 1,000 tonnes of this variety of rice will come into effect from Wednesday. The Directorate General of Foreign Trade (DGFT) on Tuesday had allowed exports of up to 1,000 tonnes of Kalanamak rice through specified customs stations. Kalanamak is a variety of non-basmati rice, exports of which were earlier prohibited. Exports of this variety of rice are allowed through six customs stations - Varanasi Air Cargo; JNCH (Jawaharlal Nehru Customs House), Maharashtra; CH (customs house) Kandla, Gujarat; LCS (land customs station) Nepalgunj Road; LCS Sonauli; and LCS Barhni.

Malaysia to request additional 500,000 MT of white rice from India

According to state-run rice importer Bernas, Malaysia's annual rice consumption is 2.5 million metric tons, with an average imported supply of 750,000 tons

'Rice exports at risk as exporters get huge tax demand notice from cutoms'

Exporters don't have the financial muscle to pay the duty difference for nearly two years; instead, they would close the business, said an exporter based in southern state of Andhra Pradesh

Vietnam imports husked brown rice from India for re-exports: Reports

Vietnam, the world's third biggest rice exporter, has imported at least 200,000 metric tons of husked brown rice from India between December and February, the sources said

Govt says 20% export duty on parboiled rice to continue beyond Mar 31

Besides, duty-free import of yellow peas, too, has been extended beyond March 31, subject to the condition that the bill of landing is issued on or before April 30, 2024

Indian curbs to propel Pakistan's rice exports towards record high

Pakistan's exports could jump to 5 million metric tons in 2023/24 financial year, up from the last year's 3.7 million tons, Kewlani said

Parboiled rice rates spring to record highs on low supplies, firm demand

Traders noted that domestic supplies are accumulating, and that harvest has begun partially in the Mekong Delta, which is expected to peak in March

Waning supplies prop up India rates to 4-month peak, Thai prices rise

Supplies have also dropped, which also contributed to price increases. Traders said new supply is expected to enter the market around next month

Indonesia secures rice import commitments from India, Thailand: Report

Jokowi, as the president is known, said while Indonesia's headline inflation is low, he remains concerned about food prices and imports would help secure supply