Online edition of India's National Newspaper
Friday, Jul 20, 2007
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Online edition of India's National Newspaper Friday, Jul 20, 2007 ePaper |
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Andhra Pradesh
T. Madhusudana Rao
Kakinada: Rice exporters who are continuing to fulfil their contractual obligations despite facing loss owing to dollar exchange rate against rupee crashing in recent months have a little respite now. Optimistic scenario
The government has increased the duty entitlement concession (DEPB) from the existing one per cent to three. This apart, the international price of rice has also gone up marginally. Both these factors have neutralized the losses, bringing some solace to the exporters. “We have suffered nearly Rs. 2 crores loss during the last two months. We have no option but to make the shipments despite the losses, as we have to be in the business for long. More over, commitment is the major factor that proves the credentials of any trader. We are confident that our contractual commitment will definitely give us good dividends in the near future,” says a leading exporter. He is optimistic of recouping the losses in the next shipments in the next three months. Despite the fluctuations in the global market, the rice exports tempo is being maintained at the same level, which is evident with nearly 10 ships working at the anchorage at any given time, that too loading the rice. During the last three months, more than 7 lakh tonnes of rice was exported from the anchorage port as against the record export of 20 lakh tonnes of rice during last year. The work is at its peak despite constraints such as shortage of steel barges, jetties, warehouses and bad roads. The inclement weather during the last fortnight affected port operations and virtually there is congestion with vessels waiting for completion of the loading of rice for more time incurring demurrages. Plea to government
Seizure of rice stocks in a couple of godowns on the complaint that food-for-work rice was mixed with the export variety resulted in shipment delays, sending shockwaves among exporters. The shipping trade wanted the government to take action against the erring at the rice originating point but not at the end point - the port. They maintain that the exporter would buy the stock from millers and brokers as such they should not be found fault for adulteration, if any.
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