India has banned exports of broken rice and imposed a 20% duty on exports of non-Basmati rice except for parboiled rice to boost domestic supplies amid a fall in area under the paddy crop in the current Kharif season.

 

Some exports will, though, be allowed till September 15, including for where loading of broken rice on the ship has commenced before this ban order, where the shipping bill is filed and vessels have already berthed or arrived and anchored in Indian ports and their rotation number has been allocated, and where broken rice consignment has been handed over to the customs and is registered in their system.

 

The ban on exports assumes significance as it appears that the overall sown area under paddy this Kharif season could be lower than that of last year. This can have an impact on both crop prospects as well as prices going forward.

 

The area under the paddy crop has been down by 5.62 per cent at 383.99 lakh hectares in the ongoing Kharif season so far due to poor rains in some states, as per the latest data released by the agriculture ministry.

 

India, the world's second-largest rice producer after China, commands a 40 per cent share in the global trade.

 

The country exported 21.2 million tonnes of rice in the 2021-22 fiscal year, of which 3.94 million tonnes were Basmati rice. It exported non-Basmati rice worth USD 6.11 billion in the same period, as per official data.

 

The country exported non-Basmati rice to more than 150 countries in 2021-22.

 

'The new duty is likely to discourage buyers from making purchases from India and prompt them to shift towards rivals Thailand and Vietnam, which have been struggling to increase shipments and raise prices,' Reuters reported.

 

The duty will affect white and brown rice, which account for more than 60% of India's exports, said B.V. Krishna Rao, president of the All India Rice Exporters Association. 'With this duty, Indian rice shipments will become uncompetitive in the world market. Buyers will shift to Thailand and Vietnam,' Rao said.

 

India's rice exports touched a record 21.5 million tonnes in 2021, more than the combined shipments of the world's next four biggest exporters of the grain: Thailand, Vietnam, Pakistan and the United States.

 

India has been cheapest supplier of rice by huge margin and that shielded African countries such as Nigeria, Benin and Cameroon to an extent from a rally in wheat and corn prices, said a Mumbai-based dealer with a global trading firm.

 

China was the biggest buyer of broken rice, with purchases of 1.1 million tonnes in 2021, while African countries such as Senegal and Djibouti bought brokens for human consumption.

 

Earlier in May, the Centre amended the export policy of wheat by putting its export under the 'prohibited' category on possible risks to food security.

 

The government while banning exports of wheat had stated that the move was made with the purpose to manage the overall food security of the country as well as meeting the needs of the neighbouring and other vulnerable countries.

 

The Indian government did not stop at just restricting exports of wheat.

 

After a ban on exports of wheat grain, the Centre then put restrictions on the exports of wheat flour (atta) exports and other related products like maida, semolina (rava/sirgi), wholemeal atta and resultant atta.

 

The ongoing conflict in Ukraine has led to a declining supply and a spike in prices of staple food grain.

 

Ukraine and Russia are two major suppliers of wheat and its global prices have risen substantially in recent months.

 

Prices in India too are buoyant and are currently trading above the minimum support price. Multiple rounds of heat waves in several wheat-growing regions in India ahead of the rabi harvest affected some wheat crops.

The Union Minister of Agriculture and Family Welfare, Shri Narendra Singh Tomar launched the Project Management Unit (PMU) on Public-Private Partnership (PPP) in Agriculture in New Delhi today. Speaking on the occasion, Shri Tomar emphasized the need to strengthen the Agriculture sector as it will help in strengthening other sectors as well. He further stated that the PPP model can be the ideal model for growth in Agriculture sector and PPP projects must focus on benefitting the farmers through enhancement of their income.

 

Shri Tomar said that the empowerment of Agriculture sector is very important for the country and society. 'If the Government alone continues to do all the work, this is not an ideal situation; better things can be done only with public participation. For the progress of any sector, the Government can deliver better with the cooperation of all,' he said.

 

Shri Tomar said that the Prime Minister Shri Narendra Modi, during his tenure of last eight years, has simplified the system by scrapping more than 1,500 redundant laws, thereby making life easy for the common man. 'On the occasion of Azadi Ka Amrit Mahotsav and inspired by PM Modi’s ideals, we should think what more can organizations like the FICCI do in the interest of the country? If the thinking and attitude will change, then the change will come about. Everyone's aim is right, but it is necessary for such ideas to be implemented. PPP is the ideal model which benefits everyone, there is progress in the concerned sector and overall development of the country takes place,' he said.

 

Shri Tomar said that the Trade & Industry sector is strong and organized, they have all the means, they can promote the Agriculture sector. On its part, the Government is undertaking continuous steps to strengthen the Agriculture sector through various schemes like the Agriculture Infrastructure Fund worth Rs. One Lakh Crore, setting up of 10,000 Farmers Producers Organizations (FPO) and Pradhan Mantri Fasal Bima scheme. Government is making relentless efforts to create farmers organizations, empower them, provide new techniques, promote remunerative crops and improve the quality of the produce at par with the global standards. 'Farmers are encouraged by the Government initiatives and the results are now evident. It is a matter of satisfaction that PM Modi’s commitment to double the income of the farmers has reached out to them and organizations like the FICCI are working hard towards achieving this goal,' he said.

 

Shri Tomar expressed the hope that everyone will make efforts to achieve growth in the Agriculture sector and make it more beneficial to the farmers. 'If Agriculture is strong, then the country can withstand even the adverse circumstances,' he said.

 

Speaking on the occasion, Secretary (A&FW) Shri Manoj Ahuja stated that the Government should play a catalytic role in facilitating investments in Agriculture sector. Private sector and NGOs should come together and partner with Govt. on projects in Agriculture which will have a multiplier effect.

 

Shri Shubrakant Panda, Senior Vice President, FICCI expressed confidence that the PMU initiative for PPP in Agriculture launched today will accelerate large scale PPP projects in Agriculture by leveraging the private sector investments and bring convergence of Government schemes and subsidies.

 

Additional Secretary (A&FW) Shri Abhilaksh Likhi and other senior officers of DA&FW and FICCI were present on the occasion. Representatives from States and Industry joined online.

 

Agriculture investments and increasing gross capital formation in agriculture are key to modernizing the Agriculture sector. Combining public investments, in the form of various Central Government and State Government initiatives in agriculture along with the Private sector investment, can be a force multiplier for the agriculture sector. The Government is keen to incentivize PPP initiatives in the Agriculture sector to improve yields, reduce losses and enhance farmer incomes. PPP initiatives will crowd in private capital in agriculture, leverage public investment and align the Central and State Governments, the Private sector, and farmers in a shared vision of dynamic and value-added growth in the sector. PPP initiatives will also lead to the convergence of various schemes to benefit farmers and improve their impact.

 

The primary objective of this PPP initiative is to enhance the income of small farmers by creating additional value, - from provisioning of quality inputs, technology extension to market linkages, and value addition. PPP initiatives are also expected to lead to modernizing agriculture practices, promoting research in climate resilient crops, developing agriculture and rural infrastructure, and increasing agricultural exports. A particular objective is to assist the States to unlock the full potential of their respective agro-climatic regions, and wide variety of agri-produce and help producers to integrate better with domestic and export markets.

 

Against this backdrop, the Department of Agriculture and Farmers’ Welfare and FICCI have announced this joint initiative to develop PPP initiatives in Agriculture.

India’s exports to Bangladesh may increase by additional $10 billion in a time span of five years if both countries sign a free trade agreement (FTA), the joint study conducted by both countries for the proposed Comprehensive Economic Partnership Agreement (CEPA) said.

 

'Due to the possible bilateral trade agreement, there exists a potential of additional export from India to Bangladesh, ranging from $4 billion to $10 billion. This export potential in addition to existing exports could be achieved by India in a time span of five years,' a copy of the joint study reviewed by Business Standard showed.

 

Similarly, for Bangladesh, the potential of additional exports to India could range from $3 billion to $5 billion in a time span of 10 years.' The total additional potential bilateral gains in trade in goods due to a possible CEPA ranges between $7 billion to $15 billion,' the report said.

 

India’s largest increase in exports to Bangladesh will be observed for motor vehicles, cotton, man-made filaments, albuminoidal substances, electrical machineries and equipment, iron and steel, knitted or crocheted fabrics, plastic goods, machineries and mechanical appliances, paper, and paper products.

 

For Bangladesh, export gains could occur in board categories such as textile and apparel goods, containers of iron/steel, wooden furniture, parts of machineries, plain woven fabrics of cotton, plastic products, chocolates, inorganic chemicals, finished leather, leather bags, footwear, processed foods such as biscuits among others.

 

In a joint statement after the meeting between visiting Bangladesh Prime Minister Sheikh Hasina and Prime Minister Narendra Modi, both sides said the two leaders welcomed the recent finalisation of a Joint Feasibility Study that recommended that CEPA will be beneficial for both the countries. 'They directed trade officials on both sides to start negotiations within the calendar year 2022 and to complete these at the earliest, in time for Bangladesh’s final graduation from LDC (least developed country) status,' it added.

 

Bangladesh is on track to graduating from LDC status in 2026 after which it will no longer be eligible to continue to put high tariffs and will have to provide duty-free quota-free market access to India under the existing (South Asian Free Trade Area) SAFTA commitments.

 

The joint study said though gains for Bangladesh’s exports to the Indian market from a CEPA will not be large as it is already enjoying duty free quota free market access, the FTA will be crucial for it from the perspective that it is soon

 

The bilateral trade between India and Bangladesh has been growing significantly over the past few years with India enjoying the second-largest trade surplus with its eastern neighbor after the US. Bangladesh became India’s fourth-largest export destination in FY22, jumping five places in two years.

 

Nisha Taneja, professor at ICRIER, said the India-Bangladesh CEPA would not only lead to enhanced trade but was also likely to have wider economic benefits for the BBIN (Bangladesh, Bhutan, India, and Nepal) sub-region and the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) region.

 

 

'The CEPA will become the cornerstone for India’s Act East Policy as it would integrate India’s northeast region to the hinterland and to the neighbouring countries as well. CEPA will also encourage the development of global and regional value chains through greater investment flows. Removing regulatory barriers will lead to enhanced trade in services in health, education, IT and tourism. A sector which holds immense potential is e-commerce — the two countries could work together to address regulatory issues which would smoothen and enhance cross-border e-commerce trade,' she said.

The FSSAI has notified standards for  requirement for specific migration limits of substances from plastic materials intended to be in contact with articles of food. It added antimony and phthalic acid to the list.

 

According to the FSSAI, in the regulation number 4 of the Food Safety and Standards (Packaging) Regulations, 2018, related to the plastic materials intended to come in contact with food products, the new entries shall be added wherein antimony’s maximum migration limit has been fixed at 0.04mg/kg and 1.5mg/kg for phthalic acid, bis (2- ethylhexyl) ester (DEHP).

 

The FSSAI says that the standards shall be applicable with their publication in the official gazette.

 

4 vegetable oils

Also, the Food Authority has added four vegetable oils in the list of claims under the advertising and claims regulations. These vegetable oils include chia oil, avocado oil, sunflower seed high oleic acid and safflower seed oil –high oleic acid.

 

For chia oil the food businesses can claim (i) Rich in Omega-3 Polyunsaturated Fatty Acid (Omega-3 PUFA, Alpha linolenic acid); (ii) Alpha linolenic acid is an essential fatty acid that contributes to the maintenance of normal blood cholesterol levels, for avocado oil the FBOs can claim - Rich in Monounsaturated Fatty Acids (MUFA) that helps to maintain normal blood cholesterol levels, for sunflower seed oil the FBOs can claim (i) Rich in Monounsaturated Fatty Acids (MUFA) that helps to maintain normal blood cholesterol levels; (ii) Contains Tocopherols which are natural antioxidants and for safflower seed oil the FBOs can claim -Rich in Monounsaturated Fatty Acids (MUFA) that helps to maintain normal blood cholesterol levels.

 

The FSSAI notification says that these regulations shall come into force on March 1, 2023.

 

According to the FSSAI, the claim statements provided may be used on labels or advertisements, as the case may be, while terms such as 'Rich, Contains' shall be in accordance with conditions specified in the regulations and the FBOs may choose to use same or similar terms in the claim statements while ensuring no change in the intent and meaning of the claim.

Union Agriculture Minister, Shri Narendra Singh Tomar today inaugurated the National Conference on Agriculture for Rabi Campaign 2022-23 today at NASC, Pusa, New Delhi.  Addressing the Conference, he highlighted that as per 4th Advance Estimates (2021-22), production of food grains in the country is estimated at 3157 lakh tonnes which is higher by 50 lakh tonnes than the production of food grain during 2020-21. Total pulses and oilseeds production during 2021-22 is estimated at record 277 and 377 lakh tonnes respectively.

 

Shri Tomar said that the Central and State Governments are jointly discharging their responsibilities in the agriculture sector. A lot of work has been done in the country in terms of production, due to which there has been an increase in the production of food grains, pulses and oilseeds. Today, the priority is to tackle and solve the challenges before agriculture.

 

In this regard, he mentioned the Pradhan Mantri Fasal Bima Yojana, under which Rs 1.22 lakh crore has been given to farmers as compensation for the loss of their crops. Shri Tomar said that all the farmers should be brought under the ambit of this scheme. This will especially make small farmers feel secure. He said that the productivity of the soil is decreasing due to the use of chemical fertilizers, hence organic and natural farming is being promoted. Prime Minister Shri Modi's emphasis is also on natural farming. Under the leadership of the Prime Minister, the central government is taking forward the agriculture sector. It is also being expanded through Krishi Vigyan Kendras. State governments also need to make more efforts in this direction.

 

The Minister expressed satisfaction on the success of Mustard Mission during first two years of its implementation.  Mustard production has jumped by 29% from 91.24 to 117.46 lakh tonnes in last two years.  The productivity saw 10% jump from 1331 to 1458 kg/ha. The area under rapeseed & mustard has increased by 17% from 68.56 in 2019-20 to 80.58 lakh ha in 2021-22. He appreciated the farming community and the State Governments for this commendable achievement. The increased mustard production will help in bridging the gap of imports of palm and sunflower oil. Government is now implementing Special Soybean and Sunflower Missions on the pattern of Mustard Mission.

 

Shri Tomar said that the Central Government has started work on Digital Agriculture to bridge the gap between the farmers and the Government so that the farmers get the benefits of the government schemes transparently. There is also a need to work together on the digital agriculture mission. He also said that with the efforts of the Prime Minister, the year 2023 will be celebrated as the International Year of Millets. India is going to lead this programme all over the world. The effort of the government is to increase the production and export of millets and increase the income of the farmers. He urged them to work towards promoting the nutritious cereals in the states. On this occasion, the Agriculture Minister released two books.

 

The National targets for total food grain production has been set at 3280 lakh tonnes for the year 2022-23 in which rabi season will contribute 1648 lakh tonnes. The strategies would be to enhance area through inter-cropping, crop diversification, and productivity enhancement by introducing High Yield Varieties (HYVs), adoption of suitable agronomic practices in low yielding regions, utilizing residual moisture, early sowing and lifesaving irrigation for rabi crops.

 

The objective of this Conference is to review and assess the crop performance during the preceding crop seasons and fix crop-wise targets for rabi season in consultation with State Governments, ensure supply of critical inputs and facilitate adoption of innovative technologies with a view to enhance production and productivity of the crops.  The priority of Government is agro-ecological based crop planning for diversion of land from excess commodities like rice and wheat to deficit commodities like oilseeds and pulses and high value export earning crops. During the 1st National Conference of Chief Secretaries held at Dharamshala in June, 2022, the Prime Minister set the agenda for crop diversification and self-sufficiency in pulses and oilseeds in consultation with States.

 

Addressing the Conference, Shri Kailash Chaudhary, Minister of State for Agriculture and Farmers Welfare informed that the Government has taken various initiatives which include e-NAM, FPO and digital agriculture to provide its benefits to the farmers. For promotion of natural farming systems and to protect farmers’ interest in new system of cultivation, Krishi Vigyan Kendra (KVKs) and other Research & Development institutions will be the knowledge centres to provide technical know-how.

 

Shri Manoj Ahuja, Secretary Department of Agriculture and Farmers Welfare informed that the country is maintaining an increasing trend in food grains production since 2015-16. The total food grains production has increased by 25% in last seven years from 251.54 to 315.72 million tonnes.  Oilseeds and pulses have followed the same trend. The exports of agricultural products (including marine and plantation products) for the year 2021-22 have crossed USD 50 billion, highest ever achieved for agriculture exports.  

 

Dr. Himanshu Pathak, Secretary (DARE) and DG, ICAR highlighted need for adopting climate resilient practices. He presented global perspective of climate change and adaptation strategies being put in place.

 

Smt. Arti Ahuja, Secretary, Department of Fertilizers stressed upon the need of timely supply of fertilizers. She shared various steps taken by the Department to ensure timely supply of fertilizers.

 

Shri Abhilaksh Lekhi, Additional Secretary, DAFW said that there is a need to analysis the strategies of the digital agriculture for current rabi season.

 

Smt. Chhavi Jha, JS (Drought Management) presented details of measures as per Drought Manual that States need to adopt in case of a drought situation.  States should come forward to help the farmers in distress and adopt contingency planning for crop production.

 

Smt. Shubha Thakur, JS (Crops & Oilseeds) presented the vision for next five years to make the country self-sufficient in pulses and oilseeds commodities. It is proposed to increase area expansion by 14% and productivity enhancement by 23% to achieve the target of 325 lakh tonnes for pulses by 2025.    

 

Shri Pramod Kumar Meherda, JS (Information Technology) presented a mission mode project will be implemented to bring the benefit of digital technology and hi-tech solutions to all farming community especially to small and marginal farmers in collaboration with the State Governments.  

 

This was followed by an interactive session with Agriculture Production Commissioners and Principal Secretaries of all the States for increasing area coverage, production and productivity during rabi season.

Union Agriculture Minister Narendra Singh Tomar stated on Wednesday that the administration is attempting to address the issues the nation's agricultural sector is facing.

 

The minister was addressing the National Conference on Agriculture for Rabi Campaign 2022–23.

 

He emphasised that, according to estimates, foodgrain production increased by 5 million tonnes in the 2020–21 crop year, reaching 315.7 million tonnes in the 2021–22 crop year (July–June).

 

An official release stated that the rabi (winter-sown) season will provide 164.8 million tonnes of the 328 million tonnes national target for overall foodgrain output for the 2022–23 crop year.

 

The strategies would be to improve the area through intercropping, crop diversification, and productivity enhancement through the introduction of high yield varieties (HYVs), adoption of suitable agronomic practises in low-yielding regions, utilisation of residual moisture, early sowing, and lifesaving irrigation for rabi crops.

 

According to Tomar, the federal and state governments work together to fulfil their duties in the agricultural sector. There has been a lot of production work done in the nation, which has led to an increase in the production of food grains, pulses, and oilseeds.

 

'Today, the priority is to tackle and solve the challenges before agriculture,' he said.

 

Tomar brought up the Pradhan Mantri Fasal Bima Yojana, which has given farmers Rs. 1.22 lakh crore as compensation for the loss of their crops.

 

He claimed that this programme should be extended to all farmers since it will provide small farmers a sense of security. According to Tomar, chemical fertilisers are reducing soil production, which is why organic and natural farming are being encouraged. He stated that while the federal government is advancing the agriculture industry, state governments also need to put more effort into it.

India's eyeing $2 trillion in international trade by the year 2030, according to Commerce and Industry Minister Piyush Goyal. With the country's goods and services exports already over $675 billion in the last fiscal year, the ambitious target looks well within reach.

 

Talking at the Stanford University, Goyal also said that by 2047 - a century if independence - the country would be a $30 trillion economy.

 

'...by 2047-2050 period we will be at least a $30 trillion economy on a business as usual scenario and possibly a $35-45 trillion economy if some of the aggressive plans that the government is putting together work well. That's the kind of opportunity that I bring to the table,' Goyal said.

 

Having recently jumped the United Kingdom to become the world's fifth largest economy, India posted a 13.5% expansion in the quarter ending June.

 

The Industries Minister also extolled the Centre's efforts to lay a foundation on which the country can rapidly transform, grow its economy, improve its systems, and engage in technology.

 

'We have recently seen some successes in terms of our international engagement growing to about $675 billion (exports of goods and services) for the first time ever last year. We are hoping to do our international trade to about $2 trillion by 2030,' Goyal added.

 

India's exports recently registered a 17% growth to rise to $192.59 billion, while imports grew 45.64% to $317.81 billion.

 

Trade deficit widened to $125.22 billion in April-August as against $53.78 billion year-on-year. India's exports contracted by 1.15% to $33 billion in August due to subdued demand in developed markets.

 

The proposed India-Israel trade pact should be beneficial to both nations and until New Delhi gets a good deal, it would not do an agreement, Commerce and Industry Minister Piyush Goyal said.

 

India and Israel are negotiating a free trade agreement (FTA) since May 2010.

 

'With Israel, until we get a good deal, we will not do an FTA. It has to be reciprocally beneficial,' the minister said here on Tuesday while interacting with the Indian community.

 

In a free trade pact, two countries significantly reduce or eliminate customs duties on maximum number of goods traded between them. Besides, they ease norms to boost trade in services and attract investments.

 

Major exports from India to Israel include precious stones and metals, chemical products and textiles and textile articles while imports include precious stones and metals, chemicals and mineral products, base metals and machinery and transport equipment.

 

The bilateral trade in goods between the two countries stood at about USD 8 billion in 2021-22. It was USD 4.7 billion in 2020-21.

 

India has recently signed trade pacts with the UAE and Australia.

 

'We are in active negotiations with the UK, Canada, the European Union. Out of these, the UK would probably happen soon now that the new government is in place there,' Goyal said.

 

Conservative Party leader Liz Truss was on Tuesday formally appointed as Britain's new Prime Minister. She is the third female premier of that country.

 

Goyal said active negotiations are going on with several countries on trade pacts.

 

With Canada, he said 'we could possibly see early progress in trade agreement or interim trade agreement by end of the year or early next year'.

 

With the EU, he said as it is a 27-nation bloc, the proposed trade pact with it would probably take a year-and-half or two.

 

'We have three other sets of countries - the Russian group of five countries, Switzerland and a group of 3-4 countries that are very very keen to do FTA with India.

 

'I am trying to assess whether Switzerland and other countries bring something substantive to the table which is good for India. The (Swiss) minister is coming in a week or two to India, the agenda is FTA. Last time, I had kind of conclusively said we are not very keen on this. If he gives me an offer I can't refuse, may be we will do it,' he said.

 

Talks with the GCC, he said, are at advanced stage for preparing the scope of the trade pact and negotiations for that may be launched 'very soon'.

 

The Gulf Cooperation Council (GCC) is a union of six countries in the Gulf region, namely, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.

 

The European Free Trade Association (EFTA) members are Switzerland, Norway, Iceland and Liechtenstein. The Eurasian Economic Union (EAEU) comprises Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.

 

Meanwhile, the minister interacted with the venture capitalists here.

 

He encouraged them for deeper engagements and greater partnerships with Indian startups.

 

Replying to a question on semiconductor sector, Goyal said India offers incentives to companies to set up manufacturing units.

 

'We are in dialogue with many companies and several of them have shown keen interest in investing in India,' he said.

 

Talking on Open Network for Digital Commerce (ONDC), he said efforts were being made to roll out the initiative in one or more cities soon.

 

ONDC is a set of standards for voluntary adoption by sellers or logistics providers or payment gateways. The objective is to democratise the fast-growing e-commerce sector in the country to help small retailers and reduce the dominance of online retail giants.

Prices of rice have gone up nearly 5% from Friday as Bangladesh further slashed import duty on rice from 25% to 15.25% to increase imports of the staple. Rice from West Bengal, Uttar Pradesh, Bihar, Madhya Pradesh and Karnataka are exported to Bangladesh.

 

'Prices have suddenly shot up by up to 4% after Bangladesh government announced reduction of duty on import of rice. The neighbouring nation will buy rice from India as well as procure some quantities from Vietnam,' said Suraj Agarwal, CEO of Rice Villa.

 

Bangladesh will import sambha mansoori, sonam and kolam varieties of rice from UP, Bihar, Madhya Pradesh and Karnataka. Prices of these varieties have already shot up by 3-4% in the last one week. Due to its proximity to West Bengal, Bangladesh buys a good amount of miniket rice from the state. 'Prices of miniket variety in West Bengal have firmed up by 5%,' he said.

 

Lower paddy cultivation too is making rice dearer. Total area under paddy cultivation as on September 2 is down by 5.6% to 383.99 lakh hectares from 406.89 lakh hectares in Kharif 2021. Lesser rains in UP, Bihar, Jharkhand and West Bengal are to blame.

 

'There will definitely be a shortage of 10 mt rice as the sowing and transplantation season for paddy is now over. We are fearing that there will be panic buying for rice at the farmgate level this year, which may result in prices moving up till December,' said Tarun Satsangi, assistant general manager (commodity research), at Origo E-Mandi.