World Rice News 30.10.2014

30.10.2014

Thailand offered about 208,000 metric tons of rice for sale Tuesday, as the Commerce Ministry attempts to unload huge stockpiles of the grain accumulated under a previous farm-subsidy program. The open tender attracted bids from some 30 rice traders, exporters and retailers, the ministry said.

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The fear of Ebola is slowing rice shipments from Asia to Africa with shipping crews either refusing to travel to affected regions or demanding higher freight charges, aggravating a food crisis in one of the most malnourished parts of the world.

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Rice shipments from India, the top supplier in 2014, will probably drop as much as 30% as drought and a cyclone this month curb output. Exports will decline to about 7 million metric tons to 8 million tons from 10 million tons this year, said Samarendu Mohanty, head of the social sciences division at the International Rice Research Institute. Production will drop to a range of 95 million tons to 100 million tons in 2014-2015 from 106 million tons a year earlier, Mohanty said. India will concede its position as the largest supplier to Thailand in 2015 after weak rains during the first half of the monsoon reduced output, according to the Food & Agriculture Organization (FAO).

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Bangladesh raised the price the government will pay to farmers for the upcoming season's rice to 32 taka ($0.40) a kilogram, up from 30 taka a year ago, the food minister said on Monday, reports Reuters. The government will buy 300,000 tonnes of rice from local farmers starting from Nov. 15, Mohammad Kamrul Islam told reporters.

 

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based on data from wsj, livemint, world-grain

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