High  domestic prices : Exports of non-basmati rice

 Exports of Indian non-basmati rice will lowered down in ‘00-01 ,as  domestic prices are gearing up ,despite expectations of a good harvest, as reported by a senior trade official .

 Executive director of the All India Rice Exporters Association, said non-basmati rice exports in ‘99-00 were about one million tonnes, well short of an earlier expectation of about 1.7 million tonnes. 

For ‘00-01, non-basmati rice exports will be much lower than one million tonnes ,now India’s rice export prices are much higher than all the rice-exporting nations in Asia as added.

 India exported 4.5 million tonnes of non-basmati rice in ‘98-99.

  Currently, country’s 5% broken non-basmati rice is quoted at about $285 per tonne free on board, 10% at $275, 15% at $260 and 25% at $245 per tonne, according to traders and exporters. Currently, the minimum support price of rough rice is Rs. 490 a quintal, both about Rs. 50 higher than last year.

Market Update
(Foodgrains)