Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
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India seen edged out by Vietnam in rice exports
NEW DELHI ,India could be edged out by Vietnam this year as the world's second largest rice exporter because of a cut in export subsidies and increased transportation costs, traders said on Thursday.
They said additional costs incurred in moving grains by road to ports due to the non-availability of railway wagons had pushed rice prices up by $10-12 a tonne.
The government has increased prices of rice it supplies to exporters as stocks with state-run procurement agencies have come down due to booming exports and a fall in output after last year's drought.
"The government's policy seems to limit exports by bringing prices at par with leading global exporters so that exports do not jump and stocks get exhausted," Atul Chaturvedi, vice-president of Adani Exports Ltd, told Reuters.
"Wagons are not available and it is expensive to move rice by road," Chaturvedi said. "After the price hike in July, things will become more difficult."
India captured a sizeable share of the global rice market in 2002 with its aggressive export policy and overtook Vietnam as the world's second largest rice seller.
Trade officials and exporters now estimate the country's rice exports to fall to 1.2-1.4 million tonnes in 2003/04 (April-March) from a record 4.5 million a year ago.
Last year, exports boomed as India had kept its prices much below international levels to cut stocks and compete with traditional rice exporters such as Vietnam and Thailand.
India has increased the price of raw rice to 7,300 rupees ($157.7) a tonne, up from 6,610, and of parboiled to 7,500 rupees from 6,915 rupees effective July 1.
"The impact of these prices will be felt only by the end of this month," a leading New Delhi-based grain exporter said.
"We will be out priced in Southeast Asia where Vietnam is cheaper and we are in a position to compete only in the Middle East and Africa where we enjoy a freight advantage."
Traders said monthly exports have fallen to 100,000 tonnes from 300,000 tonnes. India, which started exporting rice two years ago to cut bulging stocks, sells parboiled and raw rice mainly to Africa, the Middle East and Southeast Asia.
"We have already lost markets in Indonesia and the Philippines where we were selling good quantities last year," a leading Ahmedabad-based exporter said.
Officials said booming exports and a fall in grain output last year due a drought had trimmed India's rice stocks which had become unmanageable two years ago.
MGR Archive 11.7.2003
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Russia Rapan $ 700
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EU Prices Baldo €660
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