Rice Demand

Analysts expect global and domestic rice demand to remain firm, which they believe, would keep the stock prices piping hot going ahead

Basmati rice sales are likely to increase 30 per cent to more than Rs 50,000 crore in the current fiscal, mainly due to high realisation and healthy demand, according to a report. In the report on Thursday, Crisil Ratings said that next fiscal, however, sales will decline 5-7 per cent as basmati rice realisation is expected to soften with anticipated increase in paddy acreage. The volume demand is expected to remain stable at 6.8 million tonnes, it added. "Basmati sector sales will likely rise 30 per cent this fiscal, with volume growing 10 per cent and realisation increasing 20 per cent. "Growth in export volume is driven by two factors -- increased food grain demand amid geo-political issues, and India benefiting from lower basmati exports from flood-affected Pakistan, a key basmati exporter. Next fiscal, sector sales will reduce by 5-7 per cent solely due to moderating prices," Crisil Ratings Director Nitin Kansal said. Basmati rice exports, comprising 64 per cent of sales by

Basmati rice prices up 10-15% this year; may rise further as crop is 7-8% down

The government on Monday said the price rise in wheat and rice has been "normal" and it will intervene in the market to offload the grains if there is any abnormal increase in the rates. Food Secretary Sudhanshu Pandey, in a press briefing, also said the government has surplus stocks of both wheat and rice in its godowns which will be used for making market intervention. "Price rise is not abnormal as it has been perceived and projected...," Pandey said. Citing the example of wheat, he said the price rise is normal as the last year's wholesale price was depressed as the government sold huge quantities under its Open Market Sale Scheme (OMSS) to bulk consumers, he said. The whole price of wheat was ruling at Rs 2,331 per quintal on October 14, 2021, as against Rs 2,474 per quintal on the same day in 2020, he added. "Therefore, it is not advisable to compare the current year's increase in wheat with last year's. It should be compared with prices that prevailed in 2020," Pandey ...

This will be the lowest output in two years, according to first estimate

India, which commands 40% share in the global rice trade, exported 21.23 mt of rice in 2021-22, against 17.78 mt in the previous year

The restrictions were placed, because sowing has not been up to expectations on account of irregularities in rainfall

India's rice production could fall by 10-12 million tonnes during the Kharif season of this year, due to a fall in paddy sowing area, the government said on Friday. However, Food Secretary Sudhanshu Pandey asserted that the country will have surplus production in rice. He pointed out that the paddy acreage is lower by 38 lakh hectare so far this kharif season, because of less rains in many states. The Kharif season contributes about 80 per cent of India's total rice production. "Loss of production of rice may be 10 million tonnes and in the worst case it can be 12 million tonnes this year," he told reporters here. However, the secretary said that this is an initial estimate based on drop in acreage and average yield. Pandey said the fall in production could be less as yield might improve in states where rains have been good. Total production of Rice during the 2021-22 crop year (July-June) is estimated at a record 130.29 million tonnes. It is higher by 13.85 million tonnes than

As of August 16, the government has rice stocks of around 26.35 million tonnes in the Central pool

In the last two weeks, traders have signed contracts to export 1 million tonnes of rice for shipments from June through September

Last year, Bangladesh imposed a 28 per cent import duty on rice from India, against two per cent earlier

The price of rice has been ruling high, mainly on robust exports, demand from mills, and the entry of traders who lost in other commodities like oilseeds and pulses