The export price of basmati rice has fallen way below the government-fixed minimum export price of $950 per tonne to $800-$850 per tonne, and despite the low prices, there are few global buyers.
MANILA, Philippines — The Department of Finance (DoF) said the government stands to lose “less than P10 billion” in revenues by further reducing tariff rates on rice temporarily—an amount that the agency said it was willing to forego just to tame inflation.
Loc Troi Group Joint Stock Company announced on Thursday that it had won bids to supply a total of 100,000 metric tons of rice to Indonesian state procurement agency Perum Bulog, but the bid price stands at US$563 per metric ton, down $16 against the starting rate, causing concerns over local rice market instability and losses facing farmers.
The world is facing a shortage of seven million metric tons of rice as this year's global rice output is significantly lower than the expected consumption, smoothing the path for rice exporters, including Vietnam, according to the Vietnamese Ministry of Industry and Trade.
The Foreign Ministry will meet with diplomats from African countries to address concerns following reports that Thailand plans to sell 15,000 tonnes of questionable-quality rice left from the Yingluck Shinawatra administration's rice-pledging scheme to their countries.
NEW DELHI: Waking up to the trend of rice prices not moderating despite huge surplus stock with FCI and restrictions on exports in place, government will carry out a comprehensive study to map consumption and production of different non-basmati rice varieties which are not distributed under the free foodgrain scheme, PMGKAY.
Official data showed that at least 24 places in Delhi, Punjab, Haryana, Rajasthan, Uttar Pradesh, Gujarat, and Madhya Pradesh recorded maximum temperatures of 45 degrees Celsius or above on Wednesday.
The Department of Medical Sciences (DMS) under the Thai Ministry of Health has announced that rice samples taken from the Ministry of Commerce are safe for consumption as they are free from aflatoxin, germs, and chemical contamination.
MANILA, Philippines — The Department of Agriculture (DA) defended yesterday the decision of the government to sell rice at P29 per kilo at Kadiwa outlets, saying it aims to benefit the poor.
MANILA, Philippines — The Department of Agriculture (DA) is rolling out Kadiwa Centers through the Kadiwa Program in Metro Manila bannered by its sale of rice at P29 a kilo, the Presidential Communications Office (PCO) said on Sunday.
MANILA, Philippines — Allowing the National Food Authority to import rice is a last option for the government, an official of the Department of Agriculture (DA) said yesterday amid opposition from farmers’ groups to return the NFA’s power to source the staple outside the country.
Indonesian President Joko Widodo on May 13 revealed that the realisation of rice imports through State Logistics Agency (Bulog) was only less than 5% of the total national needs
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