Should you buy or sell rice at the current level? || Commodity Ke Maharathi || EP -38
Origo Commodities India Pvt Ltd
![Origo Commodities India Pvt Ltd]()
Origo Commodities India Pvt Ltd
Origo Commodities, a leading Agri Fin-Tech company focused on Commodity Supply Chain, Trade & Finance.
Kharif paddy sowing stood at 30.97?Million Ha lower by 12.4% y-o-y. Paddy procurement by Govt. stood at 880 Lakh MT and Rice procurement reached 589.78 Lakh MT. Govt. rice production estimate for 2021/22 is revised 1.73 MMT higher to 129.6 MMT in the 3rd advance estimates Vs 127.9 in the 2nd advance estimate, while production remains 5.29 MMT higher y-o-y.
India’s rice export during May-22 was 1.7 MMT, higher by 1.2% m-o-m and 7% y-o-y. Meanwhile, cumulative rice exports from Oct-2021 to May-2022 were 14.40 MMT, higher by 3.6% y-o-y. Rice traders saw good demand from most destinations over the course of the last week.?