PUBLISHED : 7 Oct 2024 at 06:03
The domestic price of Thai white rice has begun to decrease following India’s resumption of non-basmati white rice exports.
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PUBLISHED : 7 Oct 2024 at 06:03
The domestic price of Thai white rice has begun to decrease following India’s resumption of non-basmati white rice exports.
However, this shift has yet to affect this year’s rice export volume, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association.
Mr Chookiat said on Sept 28 the Indian government lifted a ban on the export of non-basmati white rice of more than a year, with a larger crop yield in 2024 bolstering state warehouse reserves for domestic supply.
India also cut the export duty on parboiled rice to 10% from 20%.
On Monday, India’s 5% broken white rice was offered at around US$490.
“Buyers and sellers are evaluating the potential impact of increased…