Bengal rice prices gain steam on Bangladesh demand

Rice price ranges in West Bengal, which went on a downward spiral due to free distribution of foodgrain by the authorities, is firming up on the back of a surge in need from Bangladesh.

A single of the principal factors is that during April-May well this fiscal Bangladesh imported forty six for every cent of non-Basmati rice that it purchased for the full of very last fiscal from India. During April-May well this calendar year, Bangladesh purchased four.28 lakh tonnes of rice from India at a price of ₹1,163.20 crore. During the very last fiscal, Dhaka imported nine.11 lakh tonnes of non-basmati rice really worth ₹2,552.54 crore compared with a meagre 13,083 tonnes valued at ₹85.seventy two crore during 2019-20. In December very last calendar year, Bangladesh lessened responsibility and other authorities prices on import of non-basmati rice to 25 for every cent from sixty two.five for every cent.

Price tag of the typical range non-basmati rice in the Point out was down by all over eight for every cent at ₹2,two hundred-two,250 a quintal in July towards ₹2,400-two,500 in the corresponding period of time very last calendar year.

Prices up in Bengal

Responsibility reduction, all over a few-to-four days back, has presently pushed up rice price ranges in the Point out.

Price tag of the typical range non-basmati rice has inched up by all over ₹200 a quintal, to ₹2,400 compared with ₹2,two hundred about a month ago.

The much better top quality miniket parboiled rice (commonly shipped to Bangladesh) has greater by ₹300 for every quintal to ₹2,900 about the very last week.

“West Bengal rice business is dominated by non-basmati parboiled rice, and transportation expense is the very least from West Bengal to Bangladesh compared to any other Point out in India. So, the greater part of export of non-basmati rice in Bangladesh occurs from West Bengal. Taking into consideration this, price ranges of non-basmati variants are sure to boost further more in the Point out for retail shoppers as very well,” said Suraj Agarwal, CEO, Tirupati Agri Trade.

The Bangladesh authorities lately floated a tender to purchase fifty,000 tonnes of non-basmati rice from India. A major chunk of the rice exported to the neighbouring region commonly goes from West Bengal and the greater part of the export occurs concerning September and February.

Breather for growers

Generation of kharif paddy, the conventional crop of West Bengal, is anticipated to be bigger this calendar year backed by favourable climate problems and adequate rains.

The Point out generates near to 10.five-11 million tonnes of paddy during the kharif period accounting for almost 70 for every cent of the total production which is believed to be near to fifteen-sixteen million tonnes a calendar year and almost 14 for every cent of the country’s total production.

As for every official estimates, West Bengal has five.8 million hectares less than rice cultivation. However official estimates are not obtainable, the Point out is probably to sign-up a bigger crop this calendar year. Harvesting of paddy is anticipated to commence by mid-October.

Although the cost of paddy has been regular at very last year’s ₹1,500-1,seven hundred a quintal so much this calendar year, the firming up of rice price ranges may push up paddy price ranges too, business resources say.

The reduction of import responsibility also arrives as a breather for rice millers working in parboiled range right here. The millers experienced been hit due to inadequate need in the domestic sector on the back of large availability of PDS rice.