Page 3 - Rice Export

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

Govt monitoring rice situation in domestic, intl mkts on weekly basis

The government is closely monitoring the rice situation in the domestic as well as international markets on weekly basis and it can increase the percentage share in global rice trade when favourable conditions arise, Parliament was informed on Wednesday. India has banned export of broken and non-basmati white rice in view of uncertainty around rice production here and other rice producing countries due to geopolitical scenario, El Nino sentiments and extreme climatic conditions to check domestic prices and ensure adequate availability in the market here. "The government is closely monitoring the rice scenario in the domestic market as well as in international forum on weekly basis and the government can increase the percentage share in global rice trade when favourable conditions arise," Minister of State for Commerce and Industry Anupriya Patel said in a written reply to Lok Sabha. India was the largest rice exporting country in the world from 2018 to 2022 followed by Thailand and

Centre permits export of 20 MT of non-basmati rice to earthquake-hit Nepal

The government has provided a one-time exemption from the export ban to Indian Rice Exporters Federation for shipping 20 metric tonnes (MT) of non-basmati white rice as a donation to Nepal for earthquake-affected people. Last month, the government provided a similar exemption to Patanjali Ayurved. Though exports of non-basmati white rice were banned on July 20 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 and on request. "One time exemption from prohibition is granted to Indian Rice Exporters Federation for exports of 20 MT of non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or glazed)...as donation to Nepal earthquake victims," the directorate general of foreign trade (DGFT) said in a notification. In a separate DGFT notification, the government permitted exports of 2.40 lakh tonnes of non-basmati white rice to five countries, including ...

'NCEL can export 1,492,000 tonnes non-basmati rice, 50,000 tonnes sugar'

The newly set up cooperative export body NCEL has got permission to export 14,92,800 tonnes of non-Basmati rice to 16 countries and 50,000 tonnes of sugar to two countries, Cooperation Minister Amit Shah said on Wednesday in the Rajya Sabha. The National Cooperative Exports Ltd (NCEL) was registered in January this year under the Multi-State Co-operative Societies Act, 2002. It covers agriculture and allied activities as well as handloom and handicraft items by enrolling a large number of co-operatives under its fold with a target to double its revenue by 2025 from the current level of about Rs 2,160 crore. Shah, in a written reply to the Rajya Sabha, said NCEL has so far received 2,581 applications for membership under different classes from 22 states and Union Territories. "NCEL has so far got permission for exports of 14,92,800 tonne non-Basmati white rice to 16 countries and 50,000 tonne sugar to two countries," Shah said. NCEL will provide a complete ecosystem for promotion o

India faces queries from WTO on PMGKAY extension and rice export ban

Countries, including the United States, European Union, Canada, Australia, Switzerland, and New Zealand, are seeking clarity on the expiry dates of India's export restrictions and duties