&w=3840&q=100)
Indian millers, rice exporters eye windfall as Bangladesh plans to import 9 lakh tonnes
Indian rice exporters and millers are optimistic about a rise in demand and better prices following Bangladesh's plan to import nine lakh tonnes of rice, industry stakeholders said on Sunday.
India, which accounts for 46% of global rice exports, is likely to be the biggest beneficiary of the move due to its proximity, consistent supply, and competitive pricing.
According to exporters, Bangladesh will import four lakh tonnes through government tenders and another five lakh tonnes via private traders. The early import plan comes amid concerns over crop losses from heavy rainfall affecting the Amon paddy season.
STORY CONTINUES BELOW THIS AD
'Of the total import plan, 4 lakh tonnes will be procured directly by the Bangladesh government through international tenders, while another 5 lakh tonnes will be imported by private traders of the neighbouring country. The decision comes earlier than usual, amid fear of crop loss due to heavy rain that could impact Bangladesh's Amon paddy currently being sown,' Ricevilla Foods CEO Suraj Agarwal told PTI.
Jai Baba Bakreswar Rice Mill Director Rahul Agarwal said the rice industry in the country, especially in Bengal, is well-positioned to benefit from the proposed plan by the Bangladesh authorities, and he did not foresee any diplomatic hurdle amid India's curbs on the import of garments and jute through the Petrapole border.
'At least 30-40 per cent of the private imports will likely be sourced from Bengal mills and traders. Bengal mills will also participate in the government tenders for 4 lakh tonnes. States like Bengal, Jharkhand, Andhra Pradesh, Odisha, and Bihar will benefit the most,' he said.
Popular Indian rice varieties such as 'Swarna', 'Ratna', 'Miniket', and 'Sona Masoori' are expected to see price gains in both West Bengal and southern India amid the anticipated demand surge, he said.
Prices of 'Swarna Mansoori' parboiled rice, now at Rs 29 per kg (ex-mill), may rise to Rs 31-32, while 'Miniket' variety currently being sold at Rs 41-42, could touch Rs 45 per kg in the coming weeks, Suraj Agarwal said.
STORY CONTINUES BELOW THIS AD
Bangladesh's early import plan reflects 'precautionary steps ahead of possible floods during the Amon season', the stakeholders said.
Bangladesh has already procured 3.76 lakh tonnes of Boro paddy and 9.5 lakh tonnes of rice out of a 14 lakh tonne target, with procurement expected to conclude by mid-August. From next month, the country plans to expand its food-friendly programme to cover 55 lakh families, offering 30 kg of rice per month at Tk 15 per kg.
Exporters believe the development will further strengthen 'India's position as Bangladesh's key rice supplier while firming up prices for low-to-medium rice varieties in the domestic market'.
Visakhapatnam and Paradip ports are major ones for rice exports.
With inputs from agencies
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
19 minutes ago
- The Hindu
Coffee flavour wheel in Indian languages for baristas and farmers
At his Barista Training Academy in Panchsheel Park, New Delhi, Vinny Varghese is brewing more than just good coffee — he is creating an inclusive vocabulary for how we talk about it. Last year, the seasoned barista and co-founder translated the globally recognised Coffee Flavour Wheel into Hindi, which took him 10 days to complete. Now, he is expanding the project to six more Indian languages, including Tamil, Malayalam, Punjabi, Assamese, and Bengali. For each regional version, Vinny — known in the coffee community as Binny — has collaborated with connoisseurs from those linguistic and cultural backgrounds to ensure accuracy and authenticity. 'The idea is to help Indian coffee lovers and professionals connect more deeply with the beverage, in their own language,' he says. Originally developed by the Specialty Coffee Association in 1995 in US, the Coffee Flavour Wheel is a detailed chart that helps classify and describe different coffee flavours based on taste and aroma. It is widely used by roasters, baristas and enthusiasts to articulate a brew's profile, and to help customers better understand their preferences. Binny breaks it down: 'There are three levels to the wheel. The innermost circle consists of nine broad categories — sweet, floral, fruity, sour, green, other, roasted, spices, and nutty/cocoa. The second layer refines these into more specific descriptors like citrus fruits, berries or dried fruit under the fruity umbrella. The outermost circle offers even finer nuances pinpointing the exact flavour notes in each category.' With these translations, the once-intimidating flavour lexicon becomes far more approachable. What inspired Vinny to reimagine the Coffee Flavour Wheel in Indian languages? The answer, as with most things in coffee, lies in making that taste accessible. 'At the Barista Training Academy, many of our students aren't fluent in English, nor are they familiar with global flavour references like 'blueberry' or 'green apple',' he says. 'But they know jamun. They know amla. The idea was to create something relatable, so that whether you're a barista, a farmer, or someone who enjoys coffee, you can understand what you're tasting in your own words.' Each chart is translated into colloquial versions of Hindi, Tamil, or whichever language it is being developed in — dialects and phrasing that students actually use. This is no stiff textbook translation. 'So where the original flavour wheel says 'roast', the Hindi version might say bhuna hua or halka bhuna hua,' Vinny explains. 'For a dark roast, we've gone with jala-hua, not because it's literally burnt, but because it conveys that familiar smoky, acidic sharpness.' For now, the regional flavour wheels are displayed at the Barista Training Academy for its students. English versions sit side by side with their Indian counterparts, giving learners the context and confidence to describe what they are tasting. The flavour wheels in select regional languages are currently available at the Barista Training Academy.
Mint
19 minutes ago
- Mint
India bonds dip as wary traders sell before US, domestic cenbank policy
MUMBAI, July 28 (Reuters) - Indian government bonds fell in early deals on Monday, as traders nervously sold debt ahead of rate decisions by the United States and Indian central banks, and as the market lacked fresh positive cues to spur buying. The yield on the benchmark 10-year bond was at 6.3603% as of 10:35 a.m. IST, compared with Friday's close of 6.3505% and up nearly 8 basis points since last week. Bond yields move inversely to prices. Indian bond yields continued to rise after Friday's selloff, when Reserve Bank of India Governor Sanjay Malhotra's commentary in an interview with the Financial Express trimmed rate cut bets in the market. "Investors expecting an August rate cut are shedding positions after the Governor's comments on Friday, so the selling pressure is expected to continue," a trader at a state-run bank said. "6.38% is a key technical level for the 10-year benchmark this week." Traders will closely eye any change in the RBI's inflation and growth forecasts to gauge its interest rate trajectory, they said. The RBI is set to announce its policy decision on August 6. Focus is also on the US Federal Reserve's policy decision, due on Wednesday, in which the central bank is widely expected to keep the rates unchanged, traders said. US yields have also hurt sentiments in the domestic market. The US 10-year bond yield was at 4.3899% in Asian hours, having risen nearly 6 basis points since last week. India's overnight index swap rates were unchanged in early trading, as market participants awaited further cues after a selloff on Friday. The one-year OIS rate was at 5.53% and the two-year OIS rate was at 5.51%. The liquid five-year OIS rate was at 5.73%. (Reporting by Khushi Malhotra; Editing by Janane Venkatraman)
Mint
19 minutes ago
- Mint
Poonawalla Fincorp share price rises 6% despite sell-off in Indian stock market; here's why
Poonawalla Fincorp share price jumped over 6% on Monday led by heavy buying momentum, despite broader weakness in the Indian stock market. Poonawalla Fincorp shares rallied as much as 6.59% to ₹ 440.75 apiece on the BSE. Around 40 lakh equity shares of Poonawalla Fincorp changed hands on stock exchanges, significantly higher than their one week average trading volumes of 19 lakh shares. The rally in Poonawalla Fincorp share price comes after the financial services company approved raising ₹ 1,500 crore from its promoter and aims for over 40% growth in its asset book, led by expansion in products portfolio including gold loans. The board of directors of Poonawalla Fincorp, on July 25, approved raising of funds up to ₹ 1,500 crore from promoter Adar Poonawalla's Rising Sun Holdings by issuing and allotting of 3.31 crore fully paid-up equity shares at an issue price of ₹ 452.51 per equity share by way of preferential allotment and private placement basis. The equity infusion has increased Poonawalla Fincorp's net worth to ₹ 9,700 crore. 'The said capital raise is a strategic move not only strengthens the company's financial position but also reinforces the promoter's confidence in the Company's long-term potential. The Company is well positioned to continue its growth trajectory, deliver value to its stakeholders and achieve its ambitious objectives in the competitive NBFC landscape,' Additionally, Poonawalla Fincorp is targeting above 40% growth in its asset book on the back of expansion in products portfolio including gold loans. 'We have given Asset Under Management growth guidance of 35-40% this year. We hope to exceed our target as new product lines are gaining good traction,' Poonawalla Fincorp MD and CEO Arvind Kapil told PTI. The non-deposit-taking NBFC, Poonawalla Fincorp, reported a net profit of ₹ 63 crore in the first quarter of FY26, a steep fall of 78.5% from ₹ 292 crore in the year-ago period, impacted by one-time expenses and prior provisioning. However, profit remained flat on a sequential basis. The company's net interest income (NII) in Q1FY26 increased to ₹ 639 crore from ₹ 576 crore, year-on-year (YoY). Poonawalla Fincorp registered a 53% robust growth on an annual basis in AUM at ₹ 41,273 crore at the end of first quarter ended June 30, 2025. In Q1FY26, the company had taken a one-time accelerated provision of ₹ 666 crore on the erstwhile STPL book, which also improved its provision coverage ratio (PCR) to 53.93%, up from 52.53% a year earlier. 'With credit cost significantly reducing on an overall basis by 53 bps QoQ, a risk-calibrated AUM increase of 15.8% QoQ, and ~Rs.1,500 cr capital infusion on preferential basis by the promoter, strengthens the company and supports its growth plans. Poonawalla Fincorp is well-poised for building a risk-first, sustainable, and profitable model,' said Arvind Kapil, Managing Director and CEO, Poonawalla Fincorp. Poonawalla Fincorp share price has fallen 3% in one month, but the NBFC stock has rallied 14% in three months and 42% in six months. The stock is up 40% on a year-to-date (YTD) basis, while it has gained 16% in one year. Poonawalla Fincorp share price has delivered multibagger returns of 1607% over the past five years. At 10:35 AM, Poonawalla Fincorp share price was trading 5.94% higher at ₹ 438.05 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
