Key Points
New Delhi: Global rice prices fell on Monday after India, the worlds No.1 exporter of the grain, gave the go-ahead for exports to resume, boosting global supply and helping poor Asian and African buyers secure more affordable supplies, exporters said.. India on Saturday allowed exports of non-basmati white rice..
Suppliers from Thailand, Vietnam, and Pakistan are responding to Indias move by lowering their export prices, said Himanshu Agarwal, executive director at Satyam Balajee, a leading rice exporter..
Global rice prices soared to their highest level in over 15 years following Indias decision last year to ban the export of white rice and impose a 20% duty on parboiled rice exports...
Last years export curbs imposed by India allowed competing suppliers like Vietnam, Thailand, Pakistan, and Myanmar to increase their market share and command higher prices in the global market...
Thailands rice export prices could decrease due to increased supplies in the market, but the extent of the decline would depend on several factors, including the appreciating Thai currency, said Chukiat Opaswong, honorary president of the Thai Rice Exporters Association...
