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https://www.reuters.com/markets/commodities/global-rice-prices-drop-after-india-allows-white-rice-exports-2024-09-30/
MUMBAI/HANOI, Sept 30 (Reuters) - Global rice prices fell on Monday after India, the world's 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. That came a day after New Delhi cut export duty on parboiled rice to 10%, buoyed by a new crop in the offing and higher inventories in state warehouses.
Suppliers from Thailand, Vietnam, and Pakistan are responding to India's move by lowering their export prices," said Himanshu Agarwal, executive director at Satyam Balajee, a leading rice exporter. "Everyone's trying to stay competitive to hold their spot in the market."
MUMBAI/HANOI, Sept 30 (Reuters) - Global rice prices fell on Monday after India, the world's 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. That came a day after New Delhi cut export duty on parboiled rice to 10%, buoyed by a new crop in the offing and higher inventories in state warehouses.
Suppliers from Thailand, Vietnam, and Pakistan are responding to India's move by lowering their export prices," said Himanshu Agarwal, executive director at Satyam Balajee, a leading rice exporter. "Everyone's trying to stay competitive to hold their spot in the market."
