Andhra Pradesh will use a deepwater port
To export rice for many years for the primary time, amid a worldwide shortage of grain, which could increase Shipments by one-fifth this year.
Rice export price of India’s major exporter Staples remained at a three-year high in the week as other Asian and African buyers continued to buy, raising rates in recent weeks.
India’s 5% broken variety was quoted in the week at $402- $408 per ton, unchanged from the previous week, the very best since May 2018.
An exporter based in Kakinada in Andhra Pradesh said, “Prices have gone up within the last fortnight, but buyers are still buying well.”
As per to a government order overseen by Reuters, Andhra Pradesh will use a deep-water port to export rice for many years for the primary time, thanks to a worldwide shortage of grain.
According to the newest report by the Food and Agriculture Organization (FAO), amending the import policy of neighboring Bangladesh helped push global rice prices to a seven-month high in January.
Report, “In the fragmented segment, the perception was also suffering from the approval of lower duties on private sector imports, a series of state purchases by Bangladesh.”
A Food Ministry official said that Bangladesh imported around 100,000 tonnes of rice from India last month and more deals are being finalized.
The rice trade market of Vietnam and Thailand was closed and regional traders and exporters celebrated the Lunar New Year.
