DIRS.INFO The most relevant business & tech news

☆ Indian rice shipments of 500,000 tons postponed after new duty- exporters
▼ + stars: | 2023-08-29 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

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

☆ India expands curbs on rice exports with 20% duty on parboiled grade
▼ + stars: | 2023-08-25 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

Last month, India surprised buyers by imposing a ban on exports of widely consumed non-basmati white rice, following a ban on broken rice exports last year. "With this duty, Indian parboiled rice would become as expensive as supplies from Thailand and Pakistan. India exported 7.4 million tons of parboiled rice in 2022. "Global rice prices had begun to moderate in the last few days after rallying more than 25% due to India's restrictions last month. His administration has extended a ban on wheat exports after curbing rice shipments in September 2022.

Persons: Rajendra, Narendra Modi, Rajendra Jadhav, Chris Reese, Tomasz Janowski, Hugh Lawson Organizations: REUTERS, Rights, United, Reuters Graphics India, Thomson Locations: Kakinada Anchorage, Andhra Pradesh, India, Mumbai, Thailand, Pakistan, United Nations, Ukraine, Africa, Asia, New Delhi

Indian rice stocks, including unmilled husk varieties at state warehouses, totalled 37.6 million metric tons on Aug 1, the sources told Reuters. Stocks held as of Aug 1 include 24.6 million metric tons of rice and 13 million metric tons of the unmilled variety, the sources said. State-run warehouses must have 13.5 million metric tons of rice, including strategic reserves of 2 million metric tons for the quarter beginning July 1, according to local government rules. FCI bought 84.6 million metric tons of rice paddy from domestic farmers during the 2022-23 marketing year, yielding around 57 million metric tons of rice. Indian farmers harvested a record 135.5 million metric tons of rice in 2022-23, according to the Ministry of Agriculture & Farmers Welfare.

Persons: Rajendra, Stocks, Krishna Rao, Rao, Mayank Bhardwaj, Rajendra Jadhav, Alexander Smith Organizations: REUTERS, Reuters, Food Corporation of India, FCI, Ministry of Agriculture & Farmers Welfare, El, Rice, Association, Thomson Locations: Kakinada Anchorage, Andhra Pradesh, India, DELHI, MUMBAI, Delhi, B.V

Search resuls for: "Kakinada Anchorage"

3 mentions found