latest Market News

India’s rice exports touched 10 million tonnes (mt) in 2011-12, while major rice-exporting nations - Vietnam and Thailand - have trailed with 7 mt and 6.5 mt respectively. The reasons: Free trading environment in India since last year, a price advantage and Thailand’s policy aberration. Short-term uncertainty on continuation of India’s export programme also prompted buyers to source 10-15 per cent more tonnage from...

  • Posted on : Tuesday , 27th November 2012
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Basmati rice exports to Iran may take a hit this fiscal. Information trickling in from Indian rice trade sources indicates that Iran has just reworked its multiple exchange rate system to circumvent sanctions and rice importers in Iran will now have access to the open market exchange rate with a 2% discount.   This means that the Iranian rice importer will now have to shell out Rs 23,000 to Rs 25,000 rials (or 2,300 to 2,500 toman)...

  • Posted on : Monday , 26th November 2012
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NEW DELHI: India has asked Iran to lay down clear norms for wheat imports from the country in order to avoid further delay by the Iranian quarantine department, which is yet to give quality clearance to Indian shipments.   "We have said that Iran should specify quality standards that are linked to international ones for the wheat that they want to import and we will identify the exportable wheat accordingly. We do not want any more...

  • Posted on : Friday , 23rd November 2012
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The rupee strengthened by 23 paise to Rs 54.83 against the US dollar in early trade today at the Interbank Foreign Exchange on sustained dollar selling by exporters and banks amid sustained foreign capital inflows.   A higher opening in the domestic equity market supported the rupee, dealers said.   They, however, said, dollar's strength against the euro following the decision by Moody's to downgrade French debt capped the rupee's...

  • Posted on : Wednesday , 21st November 2012
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Kochi, Nov. 19:The cardamom market gained last week on good buying support from both exporters and upcountry buyers at auctions held in Kerala and Tamil Nadu.   An estimated 35 tonnes of cardamom were bought by exporters. North Indian dealers and stockists were also active by covering good quantities.   Boycott of auctions for over a month recently during the purchasing period for Diwali by the traders in protest against raising of...

  • Posted on : Wednesday , 21st November 2012
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