‘There is high volatility in world rice market’

Source: The Hitavada      Date: 07 Feb 2019 09:21:20


Business Bureau,

Ajay Sharma, Managing Director, Lama Rice Pvt. Ltd while sharing his views on global rice scenario at a technical session organised by Vidarbha Industries Association (VIA) and Chirag Agri Ventures Pvt. Ltd said, “In our country traditional farming, use of old seeds and no intervention of technology are the major factor affecting the growth rice industry. Farmers of India are still using the seeds variety of 120 to 140 days with low yield.”

He shared some vital information of rice industry. The world production of rice has been increased at a faster rate than the world population over last three decades. China is the world’s largest producer and consumer of rice. India is the largest exporter and Philippines is largest importer of the rice. Most of the rice is produced, consumed and traded by the Asian countries and main exporters are India, Thailand, Vietnam, Pakistan and China. The Indian rice market was opened up at the end of 1994 resulting in a quantum jump in exports. Milled rice export from India has reached a high level during 1995 to 1998. India exports about 4 million tonne of Basmati and 8 million tonne of non Basmati rice. Rice is staple food of 70 per cent of the world’s poor living in Asia. Foreign exchange rate is an important factor affecting global rice trade because international rice price is quoted in US dollars. “There is high degree of volatility in the world rice market, because a small change in production or consumption brings a relatively large change in its total trade and rates also varies due to international market,” Sharma said..

He said, “Our country is lacking on the side of testing of raw material in milling plants. De-stoning is very essential in rice mills, stones damages polishers. Drying and parboiling helps to reduce broken percentage in milling process and polish is also good in order to improve shelf life of rice. Millers should be equipped with sorting and grading machines, these machines helps to produce marketable material in domestic as well as international markets,” he said.

In global market, Thailand and Vietnam are the major competitors in rice trading. Parboiled rice is the majorly traded variety. Sharma also shared few facts of India in comparison with world.  In last few years major technical investments has been done in Punjab and Haryana. He said,  “We are not taking efforts to provide export quality material. APMC plays very important role to set up linkages between farmers and millers.” He said, Nagpur has very conducive eco-system export category materials, produces produced under radius of 300 km and has low pesticide residue in crops. He added, rice industry needs to be upgraded, people who want to start work in this segment have bright future.

Atul Pande, President of VIA, Dr Suhas Buddhe, Secretary, Arun Khobragade, Chairman of VIA Agro Cell, Girdhari Mantri, Harshwardhan Harde and others were present.