Thai long grain rice exports falter amid competitive Indian prices
Thailand is unlikely to remember the international rice market in 2020 favorably, especially for exporters specializing in standard long grain white and parboiled rice.
According to the US Department of Agriculture, Thai 2020 milled rice exports -– excluding Fragrant rice –- totaled 4.2 million mt as of Dec. 27, down 28% year on year. To make matters worse, 2019’s year-end total of 5.8 million mt was down 39% from 2018.
Examining 2020 export figures, the situation is even bleaker for standard long grain exporters. White and parboiled rice accounted for 73% of total 2019 exports, according to the Thai Rice Exporters Association (TREA).
When the then finance minister Morarji Desai rose to present the Union budget on the evening of February 28, 1963, he clarified that he would speak more on the challenges on the border rather than dwell on economic trends. Small wonder then that he earmarked Rs 708.5 crore out of an estimated expenditure of Rs 1,852 crore a staggering 38% for the defence sector.
He also decided to do away with the traditional practice of identifying expenditure for the army, navy and the air force under separate heads, citing national security concerns. He then profusely expressed his gratitude to the US and Britain for rushing to India’s assistance with military equipment and supply during the India-China conflict of 1962.
Container shortage and high freight likely to affect India’s agricultural exports
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Cheaper Indian rice saw much demand from Middle East during the pandemic due to problems in rice production of countries like Thailand and Vietnam and helped increase Indian rice exports during the ongoing fiscal.
Cheaper Indian rice saw much demand from Middle East during the pandemic due to problems in rice production of countries like Thailand and Vietnam and helped increase Indian rice exports during the ongoing fiscal.
Ocean freight has doubled and trebled because of a severe shortage of containers and delays have started affecting India’s export of major agricultural products like rice, grapes, cotton as also engineering goods. A decline in containers coming from China due to fall in imports from that country has boosted container shortages.
Synopsis
This will pave the way for Indian rice exporters, particularly from West Bengal, to export non-basmati rice to the country and fetch better prices for the grain.
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Bangladesh is expected to import about 500,000 tonnes of non-basmati rice in this financial year, said Vinod Kaul, executive director, All India Rice Exporters Association.
Kolkata: The New Year is all set to bring in good news for India’s rice exporters as Bangladesh has reduced import duty on rice to 25% from 62.5%. This will pave the way for Indian rice exporters, particularly from West Bengal, to export non-basmati rice to the country and fetch better prices for the grain.
Rice exporters seek government help to deal with high freight rate, container shortage
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Exporters have sought government assistance in transportation and marketing along with benefits of export-promotion schemes, VK Kaul, executive director of All India Rice Exporters Association, said.
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The rice exporters association said shipping companies had not fully deployed their fleets, which reduced the availability of ships in India.
Rice exporters are seeking government intervention to protect their margins and remain competitive as high freight rates and a scarcity of containers have impacted the trade.
Exporters have sought government assistance in transportation and marketing along with benefits of export-promotion schemes, VK Kaul, executive director of All India Rice Exporters Association, said.