Global Rice Supplies Tightens After India’s July Export Ban

New Delhi, Sept 1 (KNN) Major rice exporting countries like including Thailand and Vietnam have increased their rice prices around 20% since India, the world's biggest shipper of the grain, banned shipments of a key variety in July, reported Reuters.

Crunching the global supplies, traders expect similar supply curbs by other exporters needing to ensure domestic food security, which has left importers scrambling to secure shipments.

Last year, India banned exports of broken rice and imposed duty on shipments of various grades, ending the price stability that had lasted for more than a decade.

After India announced the ban in July Vietnam, the world's third largest rice exporter, had called on the country's food association to ensure domestic rice supplies are sufficent a day after India announced its ban.

On July 27 prices of rice exported from Vietnam and Thailand soar to their highest in more than a decade as India's export curbs spark worries about supply.

By end of August India imposed a USD 1,200 per ton minimum export price on basmati rice shipments.

India also allowed traders to ship out non-basmati white rice cargoes that were stuck at ports when India imposed its export ban.

KNN Bureau

New Delhi, Sept 1 (KNN) Major rice exporting countries like including Thailand and Vietnam have increased their rice prices around 20% since India, the world's biggest shipper of the grain, banned shipments of a key variety in July, reported Reuters.

Crunching the global supplies, traders expect similar supply curbs by other exporters needing to ensure domestic food security, which has left importers scrambling to secure shipments.

Last year, India banned exports of broken rice and imposed duty on shipments of various grades, ending the price stability that had lasted for more than a decade.

After India announced the ban in July Vietnam, the world's third largest rice exporter, had called on the country's food association to ensure domestic rice supplies are sufficent a day after India announced its ban.

On July 27 prices of rice exported from Vietnam and Thailand soar to their highest in more than a decade as India's export curbs spark worries about supply.

By end of August India imposed a USD 1,200 per ton minimum export price on basmati rice shipments.

India also allowed traders to ship out non-basmati white rice cargoes that were stuck at ports when India imposed its export ban.  (KNN Bureau)