Wednesday, January 2, 2019

Rice Business India


A few highlights of Rice sector of India

1.India exported a record 10.2 million tons rice in 2012 but the volume will be difficult to sustain due to weaker demand from African countries and greater competition from Thailand and [the] U.S.A

2.There is also uncertainty over the rice imports by Iran, a major buyer, in light of its unclear domestic demand and financial sanctions

3.The grains council says it expects the volume of the global rice trade to contract by 5% in 2013 to 36.5 million tons due to weaker demand from major buyers, China, Nigeria and Indonesia

4.Nigeria, the world’s largest rice importer, is likely to import 15% less this year due to higher import duties, while China’s domestic production will be high enough to permit a 35% fall in its imports, the grains council said. Nigeria overbought last year in anticipation of higher duties and now demand has weakened considerably, said an exporter in New Delhi.

5.Stocks of rice in India, Vietnam, Pakistan, Thailand and the U.S. will rise 3.8% to 38.2 million metric tons in the aggregate 2012-13 marketing year
Between them, the five are responsible for more than 80% of the global trade in rice. Some are now struggling to get rid of excess stocks and prevent waste.

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