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Thai white rice prices have started to fall after India decided to resume non-basmati white rice exports.
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Thai white rice prices have started to fall after India decided to resume non-basmati white rice exports. Despite this development, this year’s rice export volume remains unaffected, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association.
Chookiat stated that on September 28, the Indian government lifted a ban on non-basmati white rice exports that had been in place for over a year prior.
“Buyers and sellers are evaluating the potential impact of increased Indian rice supplies and are uncertain about the actual sales price of Indian rice exporters.”
The decision was influenced by a larger crop yield expected in 2024, which would bolster state warehouse reserves for domestic supply. Additionally, India reduced the export duty on parboiled rice from 20% to 10%.
India’s 5% broken white rice was priced at around US$490…