India average wholesale rice prices, which increased in January 2015 and declined in February 2015 due to increased supplies and declining export demand, have again increased in March 2015 due expected lower production from ongoing Rabi secondary rice crop (November - May), according to official sources. Planting for the current Rabi crop is lagging by about 412,000 hectares, or about 9.5% from the same time last year.

Average monthly wholesale rice prices in India declined to around Rs.2,746.16 per quintal in March 2015, up about 1.2% from around Rs.2,714 per quintal in February 2015, and down about 2.7% from their year-ago levels of around Rs.2,821 per quintal.

In terms of USD per ton, wholesale rice prices in India stand at around $444 per ton (using current exchange rates) in March 2015, up about 1.4% from around $438 per ton (using historical exchange rates) in February 2015, and down about 5.5% from around $470 per ton (using historical exchange rates) in March 2014.    

The government of India, in its second advance estimates for major crops, has estimated India's rice production for 2014-15 marketing year (October 2014 - September 2015) at around 103.04 million tons, down about 3% from an estimated 106.65 million tons in 2013-14, according to a statement from the Agriculture Ministry. It estimates around 88.02 million tons from kharif rice crop and around 15.02 million tons from rabi rice crop.

USDA estimates India's 2014-15 (October - September) production at around 102.5  million tons, down about 4% from an estimated 106.54 million tons in 2013-14. It estimates India’s rice exports to decline about 11% y/y to around 9 million tons in 2015 from an estimated 10.15 million tons in 2014.

Source:oryza.com