FAO says the four countries will balance India’s rice export restrictions

Thailand, Pakistan, Myanmar, and Cambodia are likely to offset lower rice shipments from India and Vietnam, and exports from Asia are likely to be 55.4 million tonnes (mt), 6 percent above the five-year average, the Food and Agriculture Organization said. The UN agency, in its Global Food Agriculture Information and Early Warning System, said in its report “Harvest Prospects and Food Situation” that world rice supplies are expected to recover 1.5 percent at the end of the 2023-2024 marketing season (September-August) to  198.9 million tons.  “However, much of this increase is expected to occur in India, where another increase, along with a return from Pakistan and the United States, could overshadow inventory declines in all other major rice exporters”.

 Food safety concerns 

   India’s exports will decrease due to India’s restrictions on rice supplies from September 2022. The government banned the shipment of broken rice in September 2022 and the export of white rice in July this year. It imposed a 20 percent duty on parched rice from August 26 and set a  minimum export price of $950 per tonne for basmati shipments.   Measures have been taken in the country to ensure food security, considering that the rice crop is suffering from difficult weather conditions. The Ministry of  Agriculture estimated rice production at 106.31 million tons, while the target is 112 million tons. Last year, 110 million tonnes of kharif were produced. Rice exports from countries such as Thailand reduced rice prices in October by 2 percent compared to September. “International rice prices fell by 2.0 percent due to broadly weakened global import demand”.

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