Vietnam buys Indian rice for first time in decades

[Viet]

PUBLISHED : 4 JAN 2021 AT 18:05
WRITER: REUTERS

Kashmiri farmers pack winnowed rice grain in bags after a harvest on the outskirts of Srinagar Sept 22, 2020. (Reuters file photo)


MUMBAI/HANOI: Vietnam, the world's third biggest exporter of rice, has started buying the grain from rival India for the first time in decades after local prices jumped to their highest in nine years amid limited domestic supplies, four industry officials told Reuters.

The purchases underscore tightening supplies in Asia, which could lift rice prices in 2021 and even force traditional buyers of rice from Thailand and Vietnam to switch to India - the world's biggest exporter of the grain.

Indian traders have contracted to export 70,000 tonnes of 100% broken rice for January and February shipments at around $310 per tonne on a free-on-board (FOB) basis, the industry officials say.

"For the first time we are exporting to Vietnam," B.V. Krishna Rao, president of the Rice Exporters Association, told Reuters on Monday. "Indian prices are very attractive. The huge price difference is making exports possible."

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Vietnam's 5% broken rice is offered around $500-$505 per tonne, significantly higher compared to Indian prices of $381-$387.

"Rice imported from India is mainly used for producing animal feeds and for breweries," said a rice trader based in Ho Chi Minh City.

Dwindling supplies and continued Philippine buying lifted Vietnamese rice export prices to a fresh nine-year high.

Vietnam's total paddy output in 2020 fell 1.85% to 42.69 million tonnes, equivalent to around 21.35 million tonnes of rice, preliminary data from the government's General Statistics Office showed.

The country's rice exports in 2020 were forecast to have fallen by 3.5% to 6.15 million tonnes.

Robust demand from Asian and African countries has also been lifting Indian prices but they are still very competitive due to ample stocks, said Nitin Gupta, vice president of Olam India's rice business.

Vietnam could make more purchases as long as the price difference remains, Gupta said.

In December, the world's biggest rice importer China started buying Indian rice for the first time in at least three decades due to tightening supplies from Thailand, Myanmar and Vietnam and an offer of sharply discounted prices.

In 2020 India exported a record 14 million tonnes of rice, provisional data from the trade ministry showed.

Vietnam buys Indian rice for first time in decades

MUMBAI/HANOI: Vietnam, the world

www.bangkokpost.com

 

[Indos]

PUBLISHED : 4 JAN 2021 AT 18:05
WRITER: REUTERS

Kashmiri farmers pack winnowed rice grain in bags after a harvest on the outskirts of Srinagar Sept 22, 2020. (Reuters file photo)


MUMBAI/HANOI: Vietnam, the world's third biggest exporter of rice, has started buying the grain from rival India for the first time in decades after local prices jumped to their highest in nine years amid limited domestic supplies, four industry officials told Reuters.

The purchases underscore tightening supplies in Asia, which could lift rice prices in 2021 and even force traditional buyers of rice from Thailand and Vietnam to switch to India - the world's biggest exporter of the grain.

Indian traders have contracted to export 70,000 tonnes of 100% broken rice for January and February shipments at around $310 per tonne on a free-on-board (FOB) basis, the industry officials say.

"For the first time we are exporting to Vietnam," B.V. Krishna Rao, president of the Rice Exporters Association, told Reuters on Monday. "Indian prices are very attractive. The huge price difference is making exports possible."

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• Pandemic Chips at Beauty Retail's Bricks-and-Mortar Stronghold
• Digital drive

Vietnam's 5% broken rice is offered around $500-$505 per tonne, significantly higher compared to Indian prices of $381-$387.

"Rice imported from India is mainly used for producing animal feeds and for breweries," said a rice trader based in Ho Chi Minh City.

Dwindling supplies and continued Philippine buying lifted Vietnamese rice export prices to a fresh nine-year high.

Vietnam's total paddy output in 2020 fell 1.85% to 42.69 million tonnes, equivalent to around 21.35 million tonnes of rice, preliminary data from the government's General Statistics Office showed.

The country's rice exports in 2020 were forecast to have fallen by 3.5% to 6.15 million tonnes.

Robust demand from Asian and African countries has also been lifting Indian prices but they are still very competitive due to ample stocks, said Nitin Gupta, vice president of Olam India's rice business.

Vietnam could make more purchases as long as the price difference remains, Gupta said.

In December, the world's biggest rice importer China started buying Indian rice for the first time in at least three decades due to tightening supplies from Thailand, Myanmar and Vietnam and an offer of sharply discounted prices.

In 2020 India exported a record 14 million tonnes of rice, provisional data from the trade ministry showed.

Vietnam buys Indian rice for first time in decades

MUMBAI/HANOI: Vietnam, the world

www.bangkokpost.com

Meanwhile in Indonesia..............

We dont import rice in 2020, alhamdulillah, only for special rice like Biryani/Japanese high quality rice for small demand. At this time, rain still quite often comes, alhamdulillah.

Rice Prices Predicted Stable Until March 2021
Monday, 21 Dec 2020 12:07 WIB
Rep: Dedy Darmawan Nasution / Red: Nidia Zuraya

Rice traders with various prices.
Photo: Republika / Yasin Habibi


REPUBLIKA.CO.ID, JAKARTA - It is believed that the increase in rice prices that usually occurs at the end of the year and the beginning of the year did not occur in this period. The Ministry of Agriculture (Kementan) stated that the latest projection results show that rice price movements tend to be stable until March 2021.

"The price of rice tends to be flat , the increase is only slightly below Rp 200 per kilogram. This phenomenon is an anomaly, different from the annual seasonal pattern below the beginning of the year which tends to increase quite high," said Head of the Food Price Division, Food Security Agency, Ministry of Agriculture, Inti Pertiwi. to Republika.co.id , Monday (21/12).

Inti said that the stable price of rice was partly due to the large amount of social assistance in the form of rice. As is known, the government has provided various social assistance in the form of food commodities during the Covid-19 pandemic this year.

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The impact of bansos the need for adequate public rice. As a result, the supply of rice in each house is quite large. "The public may be calmer at the beginning of the year because the rice price hike has not occurred as in previous years," he said.

Quoting the BKP projections of the Ministry of Agriculture, the stability of rice prices occurs from the milling level so that at the retail stage it will be controlled. The trend of wearing from December 2020 to March 2021 is very small, namely 0.01 percent. Inti said the projected confidence level reached 95 percent.

The price trend at this time is much different from the change situation in 2018/2019 and 2019/2020. Especially for premium rice in the 2018/2019 period it jumped to the range of IDR 12,500 per kg and 2019/2020 at the same level. However, this price is still below the government's highest retail price (HET) of IDR 12,800 - IDR 13,600 per kg depending on the region.

The same situation also applies to medium rice. At the turn of 2018/2019 and 2019/2020 the price has increased dramatically to more than IDR 11,000 per kg. The price situation is far above the government's HET of Rp. 9,450 - Rp. 10,250 per kg.

He continued, the stable price of rice at the turn of 2020/2021 was also supported by the belief that there would be a 2020 rice surplus of around 6.5 million tons. This amount is very sufficient for the needs of the first quarter of 2021.

Furthermore, entering April, supply will increase again because it coincides with the main harvest season. On the other hand, said Inti, what needs to be anticipated is a decrease in the price of unhulled rice and rice at the farm level. Therefore, Bulog's rice absorption activities must be continued.

Moreover, the government has raised the benchmark government purchase price (HPP) used by Bulog in buying farmers' grain.

In addition, distribution activities must be streamlined. Especially between regions experiencing deficits and surpluses. "BKP will ask Bulog to start actively absorbing unhulled rice in locations that will be harvested," he said.

Harga Beras Diprediksi Stabil Hingga Maret 2021 |Republika Online

Kenaikan harga beras di dalam negeri hanya kecil di bwaha Rp 200 per kg.

republika.co.id

 

[Mrityunjay Rai]

Meanwhile in Indonesia..............

We dont import rice in 2020, alhamdulillah, only for special rice like Biryani/Japanese high quality rice for small demand. At this time, rain still quite often comes, alhamdulillah.

Rice Prices Predicted Stable Until March 2021
Monday, 21 Dec 2020 12:07 WIB
Rep: Dedy Darmawan Nasution / Red: Nidia Zuraya


View attachment 705103
Rice traders with various prices.
Photo: Republika / Yasin Habibi


REPUBLIKA.CO.ID, JAKARTA - It is believed that the increase in rice prices that usually occurs at the end of the year and the beginning of the year did not occur in this period. The Ministry of Agriculture (Kementan) stated that the latest projection results show that rice price movements tend to be stable until March 2021.

"The price of rice tends to be flat , the increase is only slightly below Rp 200 per kilogram. This phenomenon is an anomaly, different from the annual seasonal pattern below the beginning of the year which tends to increase quite high," said Head of the Food Price Division, Food Security Agency, Ministry of Agriculture, Inti Pertiwi. to Republika.co.id , Monday (21/12).

Inti said that the stable price of rice was partly due to the large amount of social assistance in the form of rice. As is known, the government has provided various social assistance in the form of food commodities during the Covid-19 pandemic this year.

Read Also

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• Starting January 1, 2021, Securities Transactions on the Exchange are subject to Stamp Duty

The impact of bansos the need for adequate public rice. As a result, the supply of rice in each house is quite large. "The public may be calmer at the beginning of the year because the rice price hike has not occurred as in previous years," he said.

Quoting the BKP projections of the Ministry of Agriculture, the stability of rice prices occurs from the milling level so that at the retail stage it will be controlled. The trend of wearing from December 2020 to March 2021 is very small, namely 0.01 percent. Inti said the projected confidence level reached 95 percent.

The price trend at this time is much different from the change situation in 2018/2019 and 2019/2020. Especially for premium rice in the 2018/2019 period it jumped to the range of IDR 12,500 per kg and 2019/2020 at the same level. However, this price is still below the government's highest retail price (HET) of IDR 12,800 - IDR 13,600 per kg depending on the region.

The same situation also applies to medium rice. At the turn of 2018/2019 and 2019/2020 the price has increased dramatically to more than IDR 11,000 per kg. The price situation is far above the government's HET of Rp. 9,450 - Rp. 10,250 per kg.

He continued, the stable price of rice at the turn of 2020/2021 was also supported by the belief that there would be a 2020 rice surplus of around 6.5 million tons. This amount is very sufficient for the needs of the first quarter of 2021.

Furthermore, entering April, supply will increase again because it coincides with the main harvest season. On the other hand, said Inti, what needs to be anticipated is a decrease in the price of unhulled rice and rice at the farm level. Therefore, Bulog's rice absorption activities must be continued.

Moreover, the government has raised the benchmark government purchase price (HPP) used by Bulog in buying farmers' grain.

In addition, distribution activities must be streamlined. Especially between regions experiencing deficits and surpluses. "BKP will ask Bulog to start actively absorbing unhulled rice in locations that will be harvested," he said.

Harga Beras Diprediksi Stabil Hingga Maret 2021 |Republika Online

Kenaikan harga beras di dalam negeri hanya kecil di bwaha Rp 200 per kg.

republika.co.id

Did some one ask you about whether Indonesia is importing or not ?

 

[Indos]

Did some one ask you about whether Indonesia is importing or not ?

Why are you so sensitive......

 

[GS Zhou]

That's very interesting:

Vietnam, one of the biggest rice exporters in the world, is now importing rice from India, who has the worst hunger situation on the world.

China, who has much big crop production than India, is also importing food from India.

what is the feeling of the poor Indian population, who cannot have the basic food supply, when he/she reads the news?

 

[KurtisBrian]

PUBLISHED : 4 JAN 2021 AT 18:05
WRITER: REUTERS

Kashmiri farmers pack winnowed rice grain in bags after a harvest on the outskirts of Srinagar Sept 22, 2020. (Reuters file photo)


MUMBAI/HANOI: Vietnam, the world's third biggest exporter of rice, has started buying the grain from rival India for the first time in decades after local prices jumped to their highest in nine years amid limited domestic supplies, four industry officials told Reuters.

The purchases underscore tightening supplies in Asia, which could lift rice prices in 2021 and even force traditional buyers of rice from Thailand and Vietnam to switch to India - the world's biggest exporter of the grain.

Indian traders have contracted to export 70,000 tonnes of 100% broken rice for January and February shipments at around $310 per tonne on a free-on-board (FOB) basis, the industry officials say.

"For the first time we are exporting to Vietnam," B.V. Krishna Rao, president of the Rice Exporters Association, told Reuters on Monday. "Indian prices are very attractive. The huge price difference is making exports possible."

• Overcoming negative impacts to drive success
• Pandemic Chips at Beauty Retail's Bricks-and-Mortar Stronghold
• Digital drive

Vietnam's 5% broken rice is offered around $500-$505 per tonne, significantly higher compared to Indian prices of $381-$387.

"Rice imported from India is mainly used for producing animal feeds and for breweries," said a rice trader based in Ho Chi Minh City.

Dwindling supplies and continued Philippine buying lifted Vietnamese rice export prices to a fresh nine-year high.

Vietnam's total paddy output in 2020 fell 1.85% to 42.69 million tonnes, equivalent to around 21.35 million tonnes of rice, preliminary data from the government's General Statistics Office showed.

The country's rice exports in 2020 were forecast to have fallen by 3.5% to 6.15 million tonnes.

Robust demand from Asian and African countries has also been lifting Indian prices but they are still very competitive due to ample stocks, said Nitin Gupta, vice president of Olam India's rice business.

Vietnam could make more purchases as long as the price difference remains, Gupta said.

In December, the world's biggest rice importer China started buying Indian rice for the first time in at least three decades due to tightening supplies from Thailand, Myanmar and Vietnam and an offer of sharply discounted prices.

In 2020 India exported a record 14 million tonnes of rice, provisional data from the trade ministry showed.

Vietnam buys Indian rice for first time in decades

MUMBAI/HANOI: Vietnam, the world

www.bangkokpost.com

Vietnam's exports seem to be doing EXTREMELY well. Might as well spend a bit of that money some place.

 

[Viet]

Meanwhile in Indonesia..............

We dont import rice in 2020, alhamdulillah, only for special rice like Biryani/Japanese high quality rice for small demand. At this time, rain still quite often comes, alhamdulillah.

Rice Prices Predicted Stable Until March 2021
Monday, 21 Dec 2020 12:07 WIB
Rep: Dedy Darmawan Nasution / Red: Nidia Zuraya


View attachment 705103
Rice traders with various prices.
Photo: Republika / Yasin Habibi


REPUBLIKA.CO.ID, JAKARTA - It is believed that the increase in rice prices that usually occurs at the end of the year and the beginning of the year did not occur in this period. The Ministry of Agriculture (Kementan) stated that the latest projection results show that rice price movements tend to be stable until March 2021.

"The price of rice tends to be flat , the increase is only slightly below Rp 200 per kilogram. This phenomenon is an anomaly, different from the annual seasonal pattern below the beginning of the year which tends to increase quite high," said Head of the Food Price Division, Food Security Agency, Ministry of Agriculture, Inti Pertiwi. to Republika.co.id , Monday (21/12).

Inti said that the stable price of rice was partly due to the large amount of social assistance in the form of rice. As is known, the government has provided various social assistance in the form of food commodities during the Covid-19 pandemic this year.

Read Also

• Distributors Raise Drug Prices Due to High Risk
• Bitcoin Price Soars, Bitcoin Options Are Splashed!
• Starting January 1, 2021, Securities Transactions on the Exchange are subject to Stamp Duty

The impact of bansos the need for adequate public rice. As a result, the supply of rice in each house is quite large. "The public may be calmer at the beginning of the year because the rice price hike has not occurred as in previous years," he said.

Quoting the BKP projections of the Ministry of Agriculture, the stability of rice prices occurs from the milling level so that at the retail stage it will be controlled. The trend of wearing from December 2020 to March 2021 is very small, namely 0.01 percent. Inti said the projected confidence level reached 95 percent.

The price trend at this time is much different from the change situation in 2018/2019 and 2019/2020. Especially for premium rice in the 2018/2019 period it jumped to the range of IDR 12,500 per kg and 2019/2020 at the same level. However, this price is still below the government's highest retail price (HET) of IDR 12,800 - IDR 13,600 per kg depending on the region.

The same situation also applies to medium rice. At the turn of 2018/2019 and 2019/2020 the price has increased dramatically to more than IDR 11,000 per kg. The price situation is far above the government's HET of Rp. 9,450 - Rp. 10,250 per kg.

He continued, the stable price of rice at the turn of 2020/2021 was also supported by the belief that there would be a 2020 rice surplus of around 6.5 million tons. This amount is very sufficient for the needs of the first quarter of 2021.

Furthermore, entering April, supply will increase again because it coincides with the main harvest season. On the other hand, said Inti, what needs to be anticipated is a decrease in the price of unhulled rice and rice at the farm level. Therefore, Bulog's rice absorption activities must be continued.

Moreover, the government has raised the benchmark government purchase price (HPP) used by Bulog in buying farmers' grain.

In addition, distribution activities must be streamlined. Especially between regions experiencing deficits and surpluses. "BKP will ask Bulog to start actively absorbing unhulled rice in locations that will be harvested," he said.

Harga Beras Diprediksi Stabil Hingga Maret 2021 |Republika Online

Kenaikan harga beras di dalam negeri hanya kecil di bwaha Rp 200 per kg.

republika.co.id

Why Indonesia is so sensitive about foods imports? In many cases it’s ok. I mean importing foods is not a bad thing per se. The Japanese can stop pouring more and more money into growing crops. It is very expensive. If Japan just spends half of subsidies they can easily feed the population by foods imports. We in Vietnam are ready to help.

 

[ToddBing]

That's very interesting:

Vietnam, one of the biggest rice exporters in the world, is now importing rice from India, who has the worst hunger situation on the world.

China, who has much big crop production than India, is also importing food from India.

what is the feeling of the poor Indian population, who cannot have the basic food supply, when he/she reads the news?

Believe me,they can not read the news.
Why you suppose they can afford the phone and the internet?

 

[S10]

Why is Vietnam buying rice from India? Isn't it a rice exporter?

 

[GS Zhou]

Why is Vietnam buying rice from India? Isn't it a rice exporter?

Covid is likely to make the world in a food shortage in the near future, therefore countries with a responsible government nowadays are all stockpile the food as much as possible, in order to prepare for the potential bad situations. Only people from mad countries are celebrating big quantity food export, e.g. the following thread.

Rice exports rise 43% to 11.95 million tonnes in October

Rice exports rise 43% to 11.95 million tonnes in October India's rice exports in the first ten months of 2020 totalled million 11.95 tonnes, up from 8.34 million tonnes a year earlier, according to data compiled by the ministry of commerce and industry Reuters | Wednesday, December 2, 2020 |...

defence.pk

 

[AViet]

Why is Vietnam buying rice from India? Isn't it a rice exporter?

India's price is much cheaper. And the rice from India is not for daily consumption, but animal feed. That was the explaination from our media.