Methane-eating bacteria discovered in Western Ghats, Pune's stone quarry
Methane, the second most important greenhouse gas, has 26 times more global warming potential than carbon dioxide. It is produced by methanogens in wetlands, rice fields, ruminants, and landfills. Key Points
India TodayNil duty on exports of Kala namak rice upto 100MT
The Indian government clarified on Wednesday that there will be no duty on exports of Kala Namak rice, a premium brand, with a restriction of 1,000 metric tonnes. Previously, there was a 20% duty on exports of this rice variety. The government permitted exports of Kala Namak rice up to 1,000 metric tonnes through specified customs stations, a change from the previous prohibition. Key Points
Economic TimesGovt allows Kala namak rice export from 6 customs stations
The Indian government has permitted the export of Kala Namak rice, a premium non-basmati variety from Uttar Pradesh, up to a total quantity of 1,000 metric tonnes. This marks a significant change as exports of this rice were previously prohibited. The certification authority for Kala Namak rice and its quantity will be the Director of Agriculture Marketing & Foreign Trade in Lucknow. Key Points
Economic TimesIndian rice traders hike prices to mirror higher export duty
India's rice export prices increased this week due to higher duty on rice shipments, while Thailand's demand remained low. The government imposed a 20% export duty on parboiled rice exports in August 2023 to control domestic rice prices. The customs department has demanded payment of duty differentials on rice exported in the last 18 months, which could cripple rice shipments from India. Key Points
Economic TimesNon-basmati rice prices down 10% in a month
Bharat rice is being sold in 5 kg and 10 kg packs, at a price of Rs 29 per kg, through the National Agricultural Cooperative Marketing Federation of India Ltd, the National Cooperative Consumers' Federation of India and retail chain Kendriya Bhandar. It is also available in certain pockets of the country on Reliance groups JioMart platform and will shortly be sold through e-commerce platforms such as Amazon and Flipkart. Key Points
Economic Times
India's rice production set to drop for the first time in 8 years; here's why
India Business News: India is bracing for a dip in rice production for the first time in eight years due to below-average rainfall. Wheat production is expected to increase. Read more about the reasons behind the decline and its impact on food prices and the global rice market. Key Points
Times Of IndiaReview procurement policy for wheat, rice at MSP: Niti Panel
A NITI Aayog working group has recommended the government to reconsider its open-ended procurement policy for rice and wheat at minimum support prices to encourage farmers to diversify towards other crops like nutri-cereals, pulses, and edible oil. The group argues that the policy discourages diversification towards high-value and riskier crops, and suggests restricting procurement to meet food security and welfare schemes. Key Points
Economic TimesIndia's basmati rice exports to fall as Pakistan's surge
India's basmati rice exports are expected to decrease in 2024 due to increased competition from Pakistan, which is offering the grain at more competitive prices. In 2023, India's basmati rice exports reached 4.9 million metric tons, just shy of the record high in 2020, leading to record revenue of $5.4 billion. However, Pakistan's increased production and lower prices are impacting India's export prospects Key Points
Economic TimesVietnam imports husked brown rice from India for re-exports, sources say
Vietnam has recently imported husked brown rice from India for the first time in years, aiming to process it into refined white rice for export, capitalizing on high global demand. This move comes as Vietnam faces increased export orders following India's ban on white rice exports in 2023. Vietnamese rice shipments hit a record 8.3 million metric tons in 2023, leading to a depletion of stockpiles. Key Points
Economic TimesGovt hopes to sell 15 lakh tons each of 'Bharat' rice, atta in next 4-5 months
The government hopes to sell 15 lakh tonnes each of FCI rice and wheat flour (atta) under the 'Bharat' brand in the next 4-5 months, Food Secretary Sanjeev Chopra said on Thursday. The government is retailing Bharat atta and rice through three agencies -- National Agricultural Cooperative Marketing Federation of India Ltd (Nafed), National Cooperative Consumers' Federation of India Ltd (NCCF) and Kendriya Bhandar. Key Points
Economic Times
rice prices fall as rabi crop starts arriving in market
In Kolkata, rice prices have dropped by up to 10% in the past month, attributed to increased market supplies and government measures. Non-basmati rice is 7% cheaper, while basmati prices have fallen by 10%. The arrival of the rabi crop from Telangana, Odisha, and Tamil Nadu has contributed to the decline. Key Points
Economic TimesGovernment announces more curbs as rice exports continue to spurt
Government announces more curbs as rice exports continue to... Key Points
The Tribune IndiaIndia working to develop HSN codes for certain varieties of rice
Officials said that India is in the process of developing new Harmonised System of Nomenclature (HSN) codes for specific rice varieties to facilitate exports of those traditionally not consumed locally. Currently, all categories of non-basmati white rice are prohibited for export. Key Points
Economic TimesWhat is Bharat rice? Check price list and where to buy
Bharat rice: The government plans to introduce 'Bharat rice' on Tuesday at a subsidized rate of Rs 29 per kg, aiming to alleviate the impact of a 15% increase in retail rice prices over the past year. The subsidized rice will be sold in 5 kg and 10 kg packs, with Food Minister Piyush Goyal launching the product in the national capital. Key Points
Economic TimesCentre to sell subsidised rice under Bharat brand
The government already sells subsidised Bharat Atta at ₹27.50 per kg and Bharat Dal at ₹60 per kg. | Latest News India Key Points
Hindustan Times
Govt makes it mandatory for retailers, wholesalers and processors to disclose rice stock
The Bharat rice will be sold in packs of 5kg and 10 kg at Rs 29 per kilo, he added through NAFED, NCCF, Kendriya Bhandar apart from the online platforms. Sanjeev Chopra also said that the government has no plans to ease export restrictions on any of the rice varieties till the prices are under control. Key Points
Economic TimesGovernment sells 71 lakh tonnes wheat so far in open market to keep prices under control
The government has sold 71.01 lakh tonnes of wheat and 1.62 lakh tonnes of rice through auction in the open market to control prices. Wheat and rice are being offloaded in the market through weekly e-auctions since June 28, 2023. The central government has allocated 101.5 lakh tonnes of wheat and 25 lakh tonnes of rice for offloading under the Open Market Sale Scheme. The reserve prices for wheat are Rs 2,150 per quintal for Fair and Average Quality (FAQ) and Rs 2,125 per quintal for Under Relaxed Specifications (URS). The reserve price for rice is Rs 2,900 per quintal. Key Points
Economic TimesUN bars Indian rice exporters from WFP
However, it has been shipping rice to friendly and neighbouring nations such as Indonesia, Senegal, Gambia, Nepal, Bhutan, Sri Lanka, Maldives, Malaysia, Indonesia, Vietnam and Iran on a government-to-government basis. This is being facilitated by the National Cooperative Exports Ltd (NCEL), a government export body which was set up under the Multi-State Cooperative Societies (MSCS) Act, 2002. Key Points
Economic TimesNo proposal to lift export curbs on wheat, rice, sugar as of now: Piyush Goyal
New Delhi, Jan 13 (PTI) Union Minister Piyush Goyal on Saturday said there is no proposal before the government as of now to lift export curbs on wheat, rice and sugar. He also said there is “no plan and no need” to import wheat and sugar. “There is no proposal as of now to remove […] Key Points
ThePrintBasmati gets title of 'best rice in world' for year 2023-24
Basmati rice, a staple food in India, has been named the 'Best rice in the World' by Taste Atlas. India also ranks 11th on the list of '100 Best Cuisines in the World'. Basmati is a long grain aromatic rice grown in the Himalayan foothills of the Indian sub-continent, known for its soft and fluffy texture, delicious taste, superior aroma, and distinct flavor. India cultivates around 34 varieties of Basmati rice, making it a major exporter to countries like Saudi Arabia, Iran, Iraq, UAE, and Yemen. Other notable rice varieties include Arborio, Arroz Carolino das Lezírias Ribatejanas, rice paper, Uruchimai, and Riz de Camargue. Key Points
Economic Times
Non-basmati prices high on low supply
The offtake of rice in September and October 2023 was 2.838 mt and 3.098 mt,respectively, while in September and October 2022, the monthly offtake was 5.848 mt and 5.386 mt , respectively. The offtake of rice in November 2023 was 3.126 mt against 7.083 mt in year-ago month. Key Points
Economic TimesIndia to sell rice under Bharat brand at Rs 25 a kilo amid price spike
In a move to address the soaring inflation rate of rice, the government has announced its plan to sell rice under the Bharat brand at an affordable price of Rs 25 per kilogram. This decision was confirmed by a senior government official. To implement this initiative, the National Agricultural Cooperative Marketing Federation of India (Nafed), National Cooperative Consumers' Federation (NCCF), and Kendriya Bhandar outlets will be responsible for distributing the rice to consumers. Key Points
Economic TimesGovt sells 3.46 lakh tonnes wheat, 13,164 tonnes rice in open market to check prices
To control the retail prices of rice, wheat and atta, the government is organising weekly e-auctions of both wheat and rice. The minimum and maximum quantity of rice that a bidder can bid has been fixed at 1 tonne and 2,000 tonne, respectively. The bidders can bid in multiples of 1 tonne with respect of rice under OMSS (Domestic). Key Points
Economic TimesIndian trade curbs to cut exports by $4 bln, Red Sea attacks a risk - source
India might face a $4 to $5 billion drop in exports due to restrictions on wheat, rice, and sugar trade, aiming to control local prices. Attacks in the Red Sea might affect basmati rice shipments. To cope, India could use an African route, but ongoing attacks might raise rice prices by 15% to 20% Key Points
Economic TimesAround 3.46 LMT wheat and 13164 MT rice were sold during 26th e-auction under OMSS
Cereal prices in November rose to 10.27% pushing the food inflation to 8.70% in November, against 6.61% reported the previous month. Food inflation accounts for nearly half of the overall consumer price basket. An increased acreage of wheat would help shore up governments stocks, which are at a seven-year low, helping it in managing inflation as it gears up for the general elections in 2024. Key Points
Economic Times
Govt closely monitoring rice situation in domestic, intl mkts on weekly basis
The Indian government is closely monitoring the rice situation in domestic and international markets, considering increasing the percentage share in global rice trade when favorable conditions arise. India, the largest rice exporter from 2018 to 2022, imposed a ban on the export of broken and non-basmati white rice to ensure domestic prices and availability amid geopolitical uncertainties and extreme climatic conditions. Key Points
Economic TimesCentre asks associations to reduce retail price of rice with immediate effect
The associations have been suggested that where there exists a wide gap between the MRP and actual retail price, the same needs to be brought down to a realistic level in order to safeguard the interest of the consumers. The order comes amid reports of a sharp increase in the margins being availed by wholesalers and retailers. Key Points
Economic TimesFCI sells 4.29 lakh MT of wheat, 14,760 MT of rice in Bengal through e-auction
Kolkata, Dec 16 (PTI) The Food Corporation India (FCI) has sold 4.29 lakh metric tonnes of wheat and 14,760 metric tonnes of non-fortified rice through 25 open market e-auctions in West Bengal from June to December this year, an official of the agency said on Saturday. FCI Deputy General Manager (West Bengal region) Pradeep Singh […] Key Points
ThePrintrice inflation: FCI chief says PDS rice quality good; appeals traders to buy grain under OMSS
FCI Chief Ashok K Meena expressed concern over rice inflation and urged traders to buy rice under the Open Market Sale Scheme (OMSS) to boost domestic availability and contain price rise. The FCI increased the bid quantity to 2,000 tonnes per bidder from 1,000 tonnes and reduced the minimum bid quantity to 1 tonne from 10 tonnes to encourage more participation. Key Points
Economic TimesGovt extends export ban on de-oiled rice bran till March 2024
New Delhi, Dec 11 (PTI) The government has extended the export ban on de-oiled rice bran, a major ingredient in preparation of cattle and poultry feed, till March 31 next year, according to a notification. It was first banned in July this year. “Export prohibition of de-oiled rice bran is extended till March 31, 2024,” […] Key Points
ThePrint
India allows Non-Basmati rice exports to another 5 countries
New Delhi [India], December 8 (ANI): India has allowed the export of non-basmati white rice in varying quantities to Comoros, Madagascar, Equatorial Guinea, Egypt, and Kenya, an official notification said. Show Full Article Notably, the export of non-Basmati white rice was prohibited on July 20 to check domestic prices and ensure domestic food security. Earlier, […] Key Points
ThePrintIndia allows Non-Bbasmati rice exports to another 5 countries
New Delhi [India], December 8 (ANI): India has allowed the export of non-basmati white rice in varying quantities to Comoros, Madagascar, Equatorial Guinea, Egypt, and Kenya, an official notification said. Show Full Article Notably, the export of non-Basmati white rice was prohibited on July 20 to check domestic prices and ensure domestic food security. Earlier, […] Key Points
ThePrintGovt permits Indian rice Exporters Federation to ship 20 MT of non-basmati rice to earthquake-hit Nepal
New Delhi, Dec 7 (PTI) 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 […] Key Points
ThePrintrice on cusp of fresh 15-year high in Asia after sharp rebound
Rice prices are approaching a 15-year high, with Thai white rice 5% broken, an Asian benchmark, rising $57 in the past two weeks to $640 per ton. Factors contributing to the surge include increased demand from unexpected buyers like Brazil and the Philippines, higher domestic prices, and a stronger baht. Key Points
Economic TimesErratic rains put potato and rice on hot plate
Even though the government has banned exports of non-basmati rice, prices have shot up by 15% amid increased demand from south India where patchy rains in Karnataka have reduced kharif rice production. On the other hand, unpredictable rainfall in October has impacted sowing of the new potato crop, which will delay the arrival of the new crop, pushing up prices of the old stock of potatoes. Key Points
Economic Times
India seen keeping rice export bans into 2024, holding up global prices
India, a leading rice exporter, is set to prolong restrictions on overseas sales, maintaining the staple grain at its highest price levels since 2008. Despite being a top global shipper, Prime Minister Narendra Modi aims to curb domestic price surges, impacting nations like Benin and Senegal while facing impending reelection. Analysts predict these measures to persist post-elections if domestic rice prices continue rising. Key Points
Economic TimesIndia rice rates gain on higher demand; growing supplies cap upside
Rice prices in Asia have increased, with export rates for the parboiled variety in India rising due to improved demand. The new season crop's increased supplies have further boosted prices. India's 5% broken parboiled variety was quoted at $493-$503 per ton, despite paying a 20% export duty. Key Points
Economic TimesIndia signs deals to export 500,000 tons of new season basmati rice
In a strategic move to capitalize on heightened demand from key markets in Europe and the Middle East, India has inked agreements for the export of approximately 500,000 metric tons of new season basmati rice, according to reports from traders on Wednesday. India, renowned for its annual export of over 4 million tons of basmati rice, a distinctive long-grain variety celebrated for its aromatic quality, continues to fortify its trade ties with nations such as Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates, and the United States. Key Points
Economic TimesOne time nod to Patanjali Ayurved to ship 20 MT non-basmati rice as donation to Nepal
The government has provided a one-time exemption from the export ban to Patanjali Ayurved Limited to ship 20 tonnes of non-basmati white rice as a donation to Nepal for earthquake victims. India, had in July, banned the export of non-basmati white rice to boost domestic supply but allowed exports on the basis of permission granted by the government to certain countries to meet their food security needs and on request. Key Points
Economic TimesIndian rice exporter KRBL posts Q2 profit drop on weak demand
KRBL (KRBL.NS) on Thursday reported a 28.1% drop in second-quarter profit as India's top exporter of branded basmati rice was hit by weakness in its mainstay agricultural segment. Key Points
Reuters
Many large buyers from Turkey land in India to buy basmati rice; prices surge
“The old contracts that were kept in abeyance because of sub-$1200 price per tonne are being shipped now. New orders are pouring in with large buyers from Turkey visiting India to pick up good volumes of basmati rice,” said Vijay Setia, a basmati exporter and past president of All India rice Exporters Association (AIREA). Key Points
Economic TimesIndia cuts floor price for basmati rice exports
The India government's decision to reduce the Minimum Export Price (MEP) of basmati rice from $1,200 per tonne to $950 per tonne is expected to bring to exporters who were concerned about losing their global market share to Pakistan, a competitor in aromatic long-grain rice production. Indian rice exporters had temporarily halted purchases in multiple wholesale markets, affecting farmers who witnessed a price drop. Key Points
Economic TimesAgainst the grain: The many pressures that are cooking up a rice crisis
Non-basmati white rice constitutes about 25 per cent of total rice exported from the country. India accounts for 40 per cent of global rice exports, but in the last few months, the country has prioritised domestic demand over global demands. Key Points
Economic TimesUK-India FTA raises concerns among British rice millers
British rice millers such as Tilda and Veetee rice have thrived for decades by importing low-tariff unmilled brown rice from the likes of India and Pakistan and polishing the grains into the white product loved by UK consumers. But with India pressing for tariffs on white rice to be slashed, and little feedback from British trade officials, concerns are mounting for an industry that employs more than 3,000 people at 16 mills and processing plants scattered from Kent in southern England to Yorkshire in the north. Key Points
Economic TimesBasmati exporters stop buying to protest pricing curbs
Basmati exporters and millers in Haryana, Punjab, and western Uttar Pradesh have stopped purchasing rice from wholesale markets due to the government's decision to maintain the minimum export price (MEP) at $1,200 per tonne. This high MEP makes it difficult for Indian basmati exporters to compete globally. Despite promises to lower the MEP to $900 per tonne, the government has not done so. Farmers are now facing losses as they are unsure where to sell their newly harvested basmati rice, which is primarily exported. Key Points
Economic Times
Considering review of basmati rice minimum export price, says govt
The Indian government is considering a review of the minimum export price of basmati rice, which currently stands at USD 1,200 per tonne. rice exporters associations have been requesting a reduction to around USD 850 per tonne. The government had previously decided not to allow exports below USD 1,200 per tonne to prevent the shipment of non-basmati rice disguised as premium basmati rice. The Ministry of Consumer Affairs, Food & Public Distribution stated that a review of the export price is under active consideration, taking into account the concerns raised by the industry. Key Points
Economic Timesrice traders demand flat export duty on parboiled rice
Rice exporters in Kolkata have requested the Indian government to impose a flat export duty of USD 80 per tonne for parboiled rice, instead of the current 20% duty. The Indian rice Exporters Federation (IREF) has also asked the government to reconsider the ban on white rice exports and reduce the minimum export price for basmati rice to USD 850 per tonne. Key Points
Economic TimesAfter export ban, rice smuggling booms along Indo-Nepal border
Villagers along the India-Nepal border in Maharajganj are involved in smuggling rice into Nepal. Young unemployed men, women, and sometimes even the elderly act as carriers for local smugglers, delivering rice to warehouses set up across the border. Despite efforts to curb smuggling, over 111.2 tonnes of rice have been seized in the last four months. Key Points
Economic TimesGovt extends 20 pc export duty on parboiled rice till March 31 next year
New Delhi, Oct 13 (PTI) The government on Friday extended the duty on export of parboiled rice by over five months till March 31. The 20 per cent export duty on parboiled rice was imposed on August 25 till October 16 to maintain adequate local stock and keep domestic prices under check. The finance ministry […] Key Points
ThePrintIndia extends 20% export duty on parboiled rice till March
New Delhi [India], October 14 (ANI): The central government has extended the 20 per cent export duty on parboiled rice till March 31, 2024, an official notification said. rice which is partially boiled with husk is called parboiled rice. Show Full Article Initially, the duty was introduced on August 25, 2023, and was due to […] Key Points
ThePrint
Export duty on parboiled rice extended upto March 31, 2024
The Indian government has extended the export duty on parboiled rice until March 31 next year. This move aims to maintain sufficient local stock and control domestic prices. The restrictions apply to all varieties of non-basmati rice, which make up about 25% of the country's total rice exports. Earlier, the government also banned the export of non-basmati white rice to boost domestic supply and control retail prices during the festive season. Key Points
Economic TimesIndia mulls extension of parboiled rice curbs ahead of key polls
India is considering extending an export levy on parboiled rice to control local prices before key polls, potentially raising the risk of higher global food inflation. The government may extend a 20% export levy, due to expire on October 15, to keep a lid on domestic prices. Key Points
Economic TimesStocks from agro-related sectors might be tactical buys due to climatic and trade-related issues
It all started with climatic conditions turning adverse to rice crops in parts of Pakistan and China. Then came the issue of accessibility of ports due to the Ukraine war. It led to a sudden rise in the price of rice and some other agri commodities. Then came the reaction of the government, ban on exports of select quality and segment of rice. Will this bring an opportunity for rice exporting companies of India and also the retail investors ? If one looks at bottomline branded rice sellers, it has been better than expected. However the agri sector is not very well covered by analysts, not many stocks have a recommendation, probably because they are largely small and mid-cap in nature. Key Points
Economic TimesGovt considers lowering minimum export price on basmati rice to USD 850/tonne
Industry has stated that due to the USD 1,200 per tonne MEP, Indian exporters lose their hard-earned buyer base to Pakistan, which is a competitor of India in this segment. In August, the government decided not to allow exports of basmati rice below USD 1,200 per tonne to restrict possible illegal shipment of white non-basmati rice in the garb of premium basmati rice. Key Points
Economic TimesIndia allows 75,000 tonne of non-Basmati white rice exports to UAE
In a notification, the Directorate General of Foreign Trade (DGFT) said: “Export of 75,000 MT of non-Basmati white rice to the UAE is permitted through National Cooperative Exports Limited.” India exported $2.2 billion of non-Basmati white rice in FY23 of which Kenya, Madagascar, Benin and the UAE were among the top destinations. Key Points
Economic Times
India permits 75,000 tonnes non-basmati white rice exports to UAE
India has lifted the ban on the export of non-basmati white rice and allowed the export of 75,000 tonnes to the UAE. The export was previously prohibited to control domestic prices and ensure food security. The exports will be permitted through National Cooperative Exports Limited, based on government permission and requests from other countries for their food security needs. India had previously allowed rice exports to Singapore and Benin is one of the major importers of non-basmati rice from India. Key Points
Economic TimesGesture of strong friendship much appreciated : Singapore on India exempting country from rice ban
Singapore expressed gratitude towards India for exempting it from the rice ban. The Singapore Embassy in India thanked the Indian government for the gesture of strong friendship through a tweet. India recently decided to allow the export of rice to Singapore to meet its food security requirements. The ban on the export of non-basmati white rice was implemented to prevent misclassification and illegal exports. Key Points
Economic TimesIndia's rice area grows on higher prices, cotton sowing lags
Indian farmers have planted 39.8 million hectares (98.3 million acres) with rice, up 3.7% on the same period last year, farm ministry data showed on Friday, as record high prices prompted farmers to expand the area. Key Points
ReutersIndia exempts some nations from rice curbs for food security
The worlds top exporter agreed to sell 79,000 tons of non-basmati white rice to Bhutan, 50,000 tons to Singapore and 14,000 tons to Mauritius, according to a commerce ministry notification late Wednesday. India said last month it would allow for exports of the variety if asked to meet the security needs of other countries. Key Points
Economic TimesBasmati put under minimum export price
The Indian government has set a minimum export price of $1,200 per tonne on basmati rice shipments and imposed a 20% duty on non-basmati parboiled rice exports in an effort to control domestic prices ahead of key state elections. The measures come after heavy rainfall and poor crop prospects have affected rice production. These actions effectively curb exports of non-basmati rice varieties, which make up 80% of India's total rice shipments. The government aims to delay shipments and assess expected Kharif rice production by 15 October. Key Points
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