Rice export price reaches highest level in two and a half years

Prices of white rice exported from India have jumped 10 per cent in the past fortnight to hit a two-and-a-half-year or 30-month high. Exporters and traders have reported higher procurement from the Food Corporation of India to account for the central pull and fluctuating global currencies to boost rice prices. The central government’s decision to ...
 

Prices of white rice exported from India have jumped 10 per cent in the past fortnight to hit a two-and-a-half-year or 30-month high. Exporters and traders have reported higher procurement from the Food Corporation of India to account for the central pull and fluctuating global currencies to boost rice prices.

The central government’s decision to stop distribution of free food grains under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) has also led to a rise in prices. The reason for this is that the people who used to get food grains under this scheme will now get rice from the open market. PMGKAY was a special scheme apart from distribution of food grains under various welfare schemes. At present, exporters are competing with FCI for procurement of rice in the market. Due to which the prices have shot up. An exporter from Delhi says that once the FCI buying stops, there could be some drop in prices. In two weeks, the price of Usna rice increased by 30 percent to Rs. 29,000 per ton has been reached. Only Rs. 22,000 were running. Rice prices also strengthened on reports that Bangladesh is also buying rice under government-to-government arrangement. Paddy prices increased last week to Rs. 2,419 had reached .46 per quintal. Last year only Rs. 2, 054 were being viewed. For paddy, the government has allocated Rs. The minimum support price has been fixed at Rs 2,040. As per the data obtained from the Ministry of Consumer Affairs, the wholesale price of rice is currently Rs. 3,328.43 per quintal. This shows an annual growth of 9.12 percent. Most of this increase has been recorded in the last one week. Rice Exporters Association President said that rice prices have reached near the minimum support price and this has led to a jump in export prices.

According to the Thai Rice Exporters Association, the price of 5 per cent broken rice from India has increased by $40 a tonne to $443-447 a tonne since the third week of December. While the price of 25 per cent broken rice has increased by $ 50 to $ 428-432 per tonne. As per the data obtained from the Ministry of Consumer Affairs, the wholesale price of rice is currently Rs. 3,328.43 per quintal. This shows an annual growth of 9.12 percent. Most of this increase has been recorded in the last one week. Rice Exporters Association President said that rice prices have reached near the minimum support price and this has led to a jump in export prices. According to the Thai Rice Exporters Association, the price of 5 per cent broken rice from India has increased by $40 a tonne to $443-447 a tonne since the third week of December. While the price of 25 per cent broken rice has increased by $ 50 to $ 428-432 per tonne. As per the data obtained from the Ministry of Consumer Affairs, the wholesale price of rice is currently Rs. 3,328.43 per quintal. This shows an annual growth of 9.12 percent. Most of this increase has been recorded in the last one week.

Rice Exporters Association President said that rice prices have reached near the minimum support price and this has led to a jump in export prices. According to the Thai Rice Exporters Association, the price of 5 per cent broken rice from India has increased by $40 a tonne to $443-447 a tonne since the third week of December. While the price of 25 per cent broken rice has increased by $ 50 to $ 428-432 per tonne. Rice Exporters Association President said that rice prices have reached near the minimum support price and this has led to a jump in export prices. According to the Thai Rice Exporters Association, the price of 5 per cent broken rice from India has increased by $40 a tonne to $443-447 a tonne since the third week of December. While the price of 25 per cent broken rice has increased by $ 50 to $ 428-432 per tonne. Rice Exporters Association President said that rice prices have reached near the minimum support price and this has led to a jump in export prices. According to the Thai Rice Exporters Association, the price of 5 per cent broken rice from India has increased by $40 a tonne to $443-447 a tonne since the third week of December. While the price of 25 per cent broken rice has increased by $ 50 to $ 428-432 per tonne.

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