MAGHAVAN Enterprises

As reported by a news media recently, India has decided to allow onion exports to Bangladesh and five other countries through government-to-government route on the recommendation of its Ministry of External Affairs. India is the second largest onion exporter in the world. But in December 2023, the government of India imposed a ban on onion shipments to control rising onion prices and ensure adequate availability in the market and extended it till March this year due to the upcoming national elections. India initially imposed a 40 percent tariff on onions to discourage its exports but when that move did not yield the desired results, it imposed a ban. A person familiar with the matter said that while no decision has been taken to lift the ban on onion exports outright, limited quantities of onion exports have been allowed for bilateral purposes. In addition to Bangladesh, five countries, including Nepal, Bhutan, Bahrain and Mauritius, said exports have been allowed. The Bangladesh gover...

Indonesia's state procurement agency BULOG has issued an international tender to buy about 300,000 metric tons of rice, European traders said last Tuesday. International tenders are asking for 5% broken grade white rice. It should be available from the 2023/2024 crop year and milled no more than six months earlier. Tuesday, February 27, is the last date for registration to participate in the tender for these trading houses. The Indonesian government has allocated an additional rice import quota of 1.6 million metric tons for 2024. The latest import quota, which was above the previously approved 2 million tonnes for 2024, comes amid expectations that the country's January-March rice harvest will be lower than last year due to normal rainfall in Java - the country's main rice-growing region. A severe drought in Southeast Asia's most populous nation has reduced production of staple foods, driving up crop prices. As a result, the price of imports has to be increased. In suc...

Vietnam imported husked brown rice from India for the first time in decades to cash in on strong global demand for the Hanoi staple, trade and government sources said, and exported the refined, white variety to process the grain. Vietnam, the world's third-largest rice exporter, imported at least 200,000 metric tons of husked brown rice from India between December and February. India is the largest exporter worldwide. Vietnam is receiving fast export orders for rice shipments after India imposed a ban on white rice exports in 2023. Rice shipments from Vietnam to record 8.3 million metric tons in 2023. An exporter from the Indian city of Calcutta said that these rising exports to Vietnam have led to a reduction in the country's reserves, which are still eager to meet rising global demand. And rice paddies are not available for milling in Vietnam, so some traders make good profits by importing husked rice from India and processing the grain for export. Recently, Vietnam has start...