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Indian basmati rice maker KRBL posts lower Q1 profit on weak demand

BENGALURU (Reuters) – India’s KRBL reported its fourth straight quarterly profit fall on Wednesday, hurt by slower demand for its basmati rice. KRBL, which makes the ‘India Gate’ brand of basmati rice, said its consolidated net profit fell 55.5% to 865.6 million rupees ($10.4 million) in the quarter ended June. Revenue from operations fell 15.2% […]

Thailand lifts 2024 rice export projection

By Vietnam News Agency Thailand expects to export 8.2 million tonnes of rice this year, up from a previous forecast of 7.5 million, helped by demand from major markets and a weakening THB, according to the country’s Commerce Ministry. Agricultural labourers working in a rice field in Suphan Buri province, Thailand. Photo courtesy of bangkokpost.com. […]

Rice prices in Negros Oriental slightly drop

By Mary Judaline Partlow HARVEST SEASON. A farmer attends to some of her family’s yield in this undated photo. Rice prices in the province have slightly dropped due to the continuous importation of rice and local production, an agriculture official said Wednesday (July 31, 2024). (PNA file photo courtesy of NFA-Negros Oriental) DUMAGUETE CITY – […]

Japan’s Rice Stocks Plummet Amid Tourist Boom and Poor Crop Yields

Japan’s rice stockpile has reached its lowest level this century, with tourism and poor crop yields cited as the main causes. In June, private-sector rice inventories dropped to 1.56 million tons, a 20% decrease from the previous year and the lowest level since 1999, according to the Ministry of Agriculture, Forestry and Fisheries. This significant […]

Farmers assns raise alarm over herbicide-tolerant rice varieties 

Coalition urges withdrawal of herbicide-tolerant basmati rice varieties due to health, environmental risks, and unsustainable farming practices By Our Bureau A coalition of farmers’ organisations and scientists has expressed serious concerns over the recent launch of two herbicide-tolerant (HT) basmati rice varieties by the Indian Council of Agricultural Research (ICAR). They called for the immediate […]

Rice exports to increase on back of weakening Thai currency

Thailand’s rice exports this year are expected to increase, from the projected 7.5 million tonnes to 8.2 million tonnes, thanks to the weakening of the baht against the US dollar, which makes Thai rice more competitive in the world market, according to Ronnarong Phoolpipat, director-general of the Foreign Trade Department. He told the media today […]

Thai rice exports soar in June thanks to Indonesian demand boost

Despite this growth concerns remain of oversupply in the global market if India lifts its ban on the export of white rice Thailand’s rice exports surged in June, driven by Indonesia’s increased demand to maintain food security, the Thai Rice Exporters Association president Charoen Laothamatas said on Tuesday. According to the Trade Policy and Strategy […]