New Delhi: Deals for export of 2.5 lakh tonnes (LT) of rice to Africa and the Philippines have been clinched at competitive prices and are likely to further boost India's trade in the commodity.

According to market sources, orders have been booked for export of 1.2 lakh tonnes (LT) rice to Nigeria, 90,000 tonnes to East Africa and 40,000 tonnes to Philippines by one of the trading firms for delivery up to July 2002.

They said, the 1.2 LT Nigerian order is for five per cent brokens per boiled and sortex rice at $ 165 per tonne freight on board (FOB). The order for exporting 90,000 tonnes to East Africa is for five per cent brokens again but of White rice without Sortex at $ 142-143 a tonne.

Philippines, which is emerging as a major buyer of Indian rice, has also booked orders for 40,000 tonne, 15 per cent broken rice at $ 136 for June-July delivery from the same firm.

The hike in ex-Food Corporation of India (FCI) export price by Rs 110 to 115 a tonne is not having any impact on the overall trade as it makes a difference of only $ 2 to 3 in the traders' margins which, sources said, are relatively higher.

While the global prices during the last one year have remained firm, there has been a fall in the Indian quotations after the ex-granary prices were brought down to 'below the poverty line' (BPL) levels in 2001. This resulted in a spurt in exports that are likely to touch 4.5 million tonnes this fiscal.

PTI