Date: 21/11/2023

Rice export curbs seen continuing in 2024

India is expected to maintain its curbs on overseas sales of rice well into next year, a move likely to hold the staple grain at close to its highest price levels since the food crisis of 2008, reports said. Lower prices and ample stockpiles have helped make India one of the top shippers globally over the past decade, recently accounting for almost 40 per cent of the total. However, the restrictions are seen staying put as long as domestic rice prices face upward pressure. The curbs resulted in prices surging to a 15-year high in August in response, with buyers from the most vulnerable importing nations holding back purchases. Some sought waivers, as per a report.
Source: Exim News Service: New Delhi, Nov. 20