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CHANDIGARH: Rising exports to Iran have lifted the price of India's premium rice grade, Pusa-1121, by 11 percent in the past week, and some farmers are holding back stocks expecting a further rise, traders and farmers said.
The price at the spot market in the Amritsar district, bordering Pakistan, has risen to Rs 2,550 per 100 kg, or about $517 per tonne.
That is still well below the benchmark Thai rice of $630 a tonne, even thought the Thai price has fallen for the past five weeks. The Pusa-1121 variety was selling at Rs 2,300 rupees per 100 kg a week ago in the spot markets in the northern Punjab and Haryana states, the main producing regions.
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Oct. 14 (Bloomberg) -- Indonesia, the world's fourth most populous country, may export as much as 2 million tons of rice in 2009, the most in at least 50 years, as production increases because of better seeds. The country may grow about 40 million tons next year, consume about 36 million tons and increase stockpiles by 2 million tons, Agriculture Minister Anton Apriyantono said in an interview. Exports that high would be the most since at least 1960, according to U.S. Department of Agriculture figures.
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NEW DELHI, Oct 13 (Reuters) - India allowed exports of fixed quantities of non-basmati rice to four African countries, the government said on Monday, partially lifting a ban on the grain's sales overseas. Government-run State Trading Corp would channel the export of 15,000 tonnes of non-basmati rice each to Nigeria, Senegal and Ghana and 10,000 tonnes to Cameroon, according to a notification from the Director General of Foreign trade posted on its website: here
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The final month of the six months within which rice can be imported and cleared duty free ends on October 31. In approving the tax waiver in May, the Federal Government was reacting to the global food crisis that had elicited a surge in the retail price of rice. At the height of the price escalation, a 50kg bag of rice had reached N12,000, depending on the brand. By suspending 50 percent duty as well as another 50 percent tax labelled Rice Development Levy, the government had reasoned that an envisaged surge in importation would force the price down close to the pre-food crisis level.
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MANILA, Oct 9 - Annual growth in Philippine rice output in the July to September quarter will likely be below 6 percent due to the high cost of fertilisers, the agriculture chief said on Thursday.
"I do not see 6 percent growth in the third quarter," Agriculture Secretary Arthur Yap told reporters.Official farm output data for the third quarter is expected to be released around the middle of November.
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