India’s Rice Export Ban Benefits Thailand

New Delhi, Aug 8 (KNN) Thailand is in an advantageous position since India announced its rice export ban, said its Commerce Minister on Monday, reported Wion.

The Southeast Asian country has no reason to halt its own shipments as it has sufficient output for exports and domestic consumption, said their Minister. 

India in late July ordered a halt to its largest rice export category in a move that will roughly halve shipments by the world's largest exporter of the grain, triggering fears of further inflation on global food markets.

The Indian ban provides an opportunity for Thai rice producers, especially in Africa which consumes large volumes of rice from India, minister Jurin Laksanawisit told a press briefing, reported Wion. 

“With India's export ban, global prices rise as volumes drop ... farmers can sell paddy rice at higher prices,” he said.

But global prices are volatile and the government will closely monitor the situation, he added.   (KNN Bureau)