Sharp Rally in India’s Rice Price

India Infoline News Service | Mumbai | October 23, 2017 10:02 IST

The price of parboiled Rice in India witnessed a sharp increase of $4 to $404-$407 per tonne.

The price of parboiled Rice in India witnessed a sharp increase of $4 to $404-$407 per tonne. Because of heavy rainfall in some of the main Rice growing region, there was a delay in the harvest, this contributed to the rise in the price.

The southern and eastern region of India received heavy rainfall reduced the production of summer Rice crops.

India being a major country for exporting food grains was threatened by the prolonged period of rainfall, damaging most of the crop which was ready for harvest.

This may lead to fall in 2% to 94.48 million tonnes in the production of a summer-sowing crop.

Other major rice exporting country Vietnam had also witnessed heavy rainfall which resulted in high price and scarce supply.

Thailand being one among major rice exporting country witnessed price fall due to low overseas demand, while the trend of supply is upwards despite rain and flood in parts of the country.

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.