Ethiopia opened a specialty coffee trading centre in Zhuzhou, China, to support exports to Asia. China is Ethiopia’s fourth-largest coffee market, with shipments rising in volume and revenue.
Read More: https://t.co/rMVKb3ZtTV
Ethiopia’s agriculture ministry proposed a 5.1 million US dollars National Fertilizer and Soil Health Institute to centralise soil analysis, manage nutrients, coordinate testing labs, and support agricultural planning under a 10-year roadmap.
Read More: https://t.co/iUTmU8uFWf…
IMF Deputy Managing Director Nigel Clarke met Ethiopian officials in Addis Ababa ahead of the fourth review of the 3.4 billion US dollars Extended Credit Facility, following earlier consultations supporting reforms. Read More https://t.co/fWhJb4R6WB
StoneX, a global financial services company adjusted downwards the estimate of #BRAZIL#soybean production, now projected at 177.2 million tons — still a historical record, but 0.9% lower than that forecast in the previous report. #oilseeds#vegoils
On This Week we attended a conference at Ethiopian #Skylight hotel organized by #EPOSPEA which is Ethiopian Pulse, oil seeds, spice processors and Exporter association. We discussed on the Future agricultural market barriers and advantages on international market. #ICOPOS
https://t.co/Blnb4Hs6uB
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Rice Prices Drop Sharply as Post-Festive Demand Weakens
New Delhi. The national festival season ended shortly after Diwali, leading to a weakening of rice demand. Meanwhile, the beginning of harvesting the new Kharif paddy crop increased the supply and availability of rice in the market.
This has put pressure on rice prices, with prices of general non-basmati rice falling by 6 percent and prices of specialty rice varieties like Govind Bhog falling by up to 30 percent.
This year, the area under rice cultivation in the Kharif season jumped to a new record high of 44.1 million hectares, and heavy southwest monsoon rains have favored crop health. This is expected to boost rice yields.
Basmati rice prices have also softened, primarily because high customs duties are impacting exports to the United States. To address this shortfall, Indian exporters are attempting to attract buyers to new markets like Japan and Indonesia to increase shipments.
The price of non-basmati rice, such as Swarna, has fallen from ₹36 per kg to ₹33 per kg. Mini-cotton rice prices fluctuated during the festive season, but have now stabilized.
Rice prices are unlikely to rise significantly for the next three to four months. Markets are receiving abundant paddy supplies, and millers and processors are purchasing it at bargain prices.
Prices of specialty rice varieties, such as Govind Bhoj, are experiencing a sharp decline. A fortnight ago, its price peaked at ₹220 per kg, but has now fallen by about 36 percent to ₹140 per kg. It is expected to fall further to ₹100 per kg soon.
The price of 1509 basmati rice has also fallen from ₹85 per kg to ₹80 per kg. This is expected to provide some relief to Indian consumers during the Lagnasara season, though demand is expected to pick up soon.