Rice market witness bullish trend continued on Monday, with prices of aromatic and non-basmati varieties up . Higher paddy prices coupled with overseas & domestic demand pushed prices up further.
Thursday, 31 October 2013
Friday, 18 October 2013
Sluggish domestic demand coupled with arrivals of new rice pulled the prices down .
India has overtaken Thailand as the biggest rice supplier of Singapore for the 1st time, exporting 92,865 tonnes or 32.9 % of the total rice supply to the island nation in the 1st 8 months of 2013. Thailand shipped 85,816 tonnes or 30.4 % during January-August. Vietnam supplied 77,459 tonnes or 27.4 % during this period.
Rice exports to Singapore by India had risen to 29.5 % last year from 15.3 % in 2009. Thailand has been the leading rice supplier to Singaporesince 1998 between 1998 and 2011.
â€œImporters taking advantage of the lower prices of Indian rice compared to Thai rice,â€ said a Trade and Industry Ministry spokesman.
Other rice suppliers to Singapore include Myanmar (2.5 %), Pakistan (2.4 %), United States (2.2 %), Cambodia (0.9 %) and Australia (0.6 %) as well as others (0.7 %).