anilsoharu's Blog

India may possibly import rice from Thailand
Date: Nov 23rd, 2009 10:46:33 pm - Subscribe
Mood: kinky


Traditional rice exporter India is looking at importing rice from Thailand and Vietnam through diplomatic deals. This would be the first time in 20 years that India imports the grain.Three state-run trading firms last month floated rice import tenders totaling 30,000 tonne and received 18 bids ranging from USD 373 to USD 599 per tonne.
Government officials on Monday said bids submitted for supplying rice to PEC would be valid until November 23. But the validity of bids received by STC and MMTC expired on Tuesday, officials, who did not wish to be named, with global trading firms, which participated in the tenders, said they did not receive any communication either from MMTC or STC.
Although India has ample grain stocks, this year's poor monsoon has raised doubts about the output of summer-sown crops the government on November 3 said summer-planted rice output could record a bigger-than-expected fall of 18% to 69.45 million tonne compared with the previous year. Some private Indian firms have sealed deals to import 10,000 tonne of wheat, for the first time in two years.

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Asia's food security hinges on rice exporters India
Date: Nov 3rd, 2009 10:42:39 pm - Subscribe
Mood: wired


Rising rice prices and possible shortages in the world's poorest countries will hinge on what major growers India, China and Thailand do to make up for millions of tonnes of the staple lost to floods and droughts.

Jim Guinn, vice president of US Rice Federation, said, “Just the fact that India has significantly reduced production alone is a significant development given the tightness of supplies that we see in the world today.”

According to media reports, traditionally India was one of the world's top rice exporters, which may import 1.1 million tones to 3.8 million tones next year to replace production losses after a drought ravaged the country's rice bowl. “But the fact that they may actually be an importer is of even more importance,” Guinn added.



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China rotating out Indian tyre exports
Date: Nov 1st, 2009 11:34:22 pm - Subscribe
Mood: unsafe


Tyres exporters India this year are heading towards negative territory largely due to the increasing competition from Chinese manufacturers in the traditional markets of Indian tyre makers. Tyre exports, which clocked a total turnover of Rs 3,000 crore last fiscal, are set to fall by 10-12 per cent.
“What is happening is the traditional export markets for Indian companies have been overcrowded by Chinese tyres. The international market is becoming increasingly challenging for Indian tyre companies,” he told Business Line.
Late last month, the US imposed a 35 per cent tariff on Chinese tyres to protect the American tyre industry. With the US markets (China’s third largest export destination) turning unfavorable, Chinese manufacturers would be more aggressive targeting other markets.
Well before the US’ impost, Chinese tyre exporters unleashed a price offensive against Indian companies in their traditional markets such as West Asia, Latin America and South-East Asia, according to industry representatives. As a result, from April to July, India exported 15.88 lakh tyres against 20.42 lakh previously, a decline of 22 per cent.
Another reason attributed to the fall is the slowdown in the global automotive industry.
Since the industry is going through a downturn, the size of the pie for tyre makers remains the same or is shrinking.


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Rice prices may return to record levels
Date: Oct 31st, 2009 12:36:11 am - Subscribe
Mood: enchanted


Food price protests swept the globe from Bangladesh to Haiti last year after fears of supply shortages prompted producers including India and Vietnam to cut exports. Rice futures surged to a record $25.07 per 100 pounds in April 2008 as shipments slowed and the Philippines, the biggest buyer, increased purchases to secure supplies and cool inflation.
“Circumstances present that possibility” of rice prices returning to record levels.
Spot rice prices in the US, the fourth-largest exporter, may surge to $16 per 100 pounds early next year from more than $12 now, as cool, wet weather reduces output there and drought and storms limit supplies from Latin America, India and the Philippines, Roberts said. US output may miss a Department of Agriculture estimate by as much as 15% and help push spot and futures prices even higher, through last year’s records, he added.

Demand High
Global demand for milled rice in the marketing year through 2010 will jump to the highest level since at least 1960 and exceed output by 2.4 million metric tons, the USDA said Oct. 9. That forecast assumes a 2.7% decline in global output to 433.6 million tons and an 8.3% gain in US output from a year earlier to 7.056 million tons.

Transparency Lacking
Futures and spot prices have yet to reflect the global supply and demand situation because of a lack of transparency in some of the government data that traders rely on, the US Producers Association’s Roberts said.

“Sooner or later when there’s a big purchase, and stocks are low, then reality hits,” he said. “And that’s not just in the United States.”




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Indian Iron ore exports awake in July
Date: Oct 5th, 2009 11:38:54 pm - Subscribe
Mood: conflicted


India exported 5.9-million-tonne iron ore in July, a 2% increase over the same period last year after clocking 26 million tones of exports during the April-June quarter, the same as the year-ago period, according to data collated by Association of Iron Ore Exporters India. The growth comes at a time when the finance ministry is considering a proposal by the steel ministry to levy 10% tax on export of iron ore to ensure availability of ore to domestic steel makers. The steel ministry recently wrote to finance Minister Pranab Mukherjee suggesting that the proposed export duty has become essential for ensuring availability of iron ore to domestic steel companies, which have been facing lower supply of the raw material for the past 5-6 months.
The iron ore exports rose around 5.4% in July from 5.6 million tonne in June, according to the study conducted jointly by Goa Mineral Ore Exporters Association, “Demand for ore is coming mainly from small steel makers in China, which are dependent on the raw material sold in the spot market,” said RK Sharma, secretary general, Federation of Indian Mineral Industries. Iron ore exports will continue to differ over the next few months till demand revives from large steel producers, he added. As a result, supply orders for the large Chinese steel firms are yet to pick up. India produces close to 200 million tonne of iron ore every year, half of which is exported. Around 80% of the country’s ore exports go to China.


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