Five months after lifting a ban on exports of cheaper varieties of rice, India has emerged as one of the world’s top rice exporters. That has helped stabilize prices around the world, even as the cost goes up in traditional exporting nations like Thailand. Scores of Indian rice traders have returned from a recent Grains Conference in Dubai after discussing lucrative deals.
Brisk business expected The head of the All India Rice Exporters Association, Vijay Setia, says business will be brisk in the coming months. “Feeling was bullish. Demand from Iran, Iraq and the entire Middle East was big. African customers were there because of good quality and the lower price,” said Setia.
The reason: India is providing customers with a cheaper alternative to rice from top exporters like Thailand. Rice became more expensive in Thailand after floods damaged last year’s crop and the government introduced a scheme to guarantee how much farmers are paid. Read More