India, which is scrambling to rein-in inflation ahead of state elections later this year, on Friday expanded curbs on rice exports with a 20% duty on parboiled rice that would be effective until Oct. 15.
Shipments of around 500,000 tons have been put on hold, said B.V. Krishna Rao, president of the Rice Exporters Association (REA).
India exported a record 22.2 million tons of rice in 2022, including 7.4 million tons of parboiled rice.
Lower-income consumers in Asia and Africa previously preferred 100% broken rice, exporters said, which was available at $325 per ton, but India banned exports of broken rice last year.
India, which accounts for 40% of world rice exports, in July ordered a halt to its largest rice export category, non-basmati white rice, which fuelled a rally in global rice prices.
Persons:
Rajendra, Himanshu Agarwal, B.V, Krishna Rao, REA, Rao, Tony Munroe, Sharon Singleton
Organizations:
REUTERS, Rights, Reuters, Satyam Balajee, Rice, Association, Reuters Graphics, Thomson
Locations:
Kakinada Anchorage, Andhra Pradesh, India, Benin, Ghana, Côte d'Ivoire, Liberia, Thailand, Vietnam, Pakistan, New Delhi, Asia, Africa