Global Rice Prices Surge toward $700 Tonne as the Market Digests Indian Rice Export Curbs

1. Global Rice Prices Surge toward $700 Tonne as the Market Digests Global Rice Prices Surge toward $700 Tonne as the Market Digests Indian Rice Export Curbs Indian Rice Export Curbs Global rice prices are on the rise, with white rice and parboiled rice nearing $700 per tonne, primarily due to India's recent export restrictions. Thailand is leading this surge, with parboiled rice prices quoted at $670-690 per tonne. India's ban on white rice exports and the imposition of a 20% export duty on parboiled rice have had a significant impact on the global market. The ban on non-Basmati rice exports from India is causing concerns about potential global food inflation. South-East Asian countries like the Philippines and Malaysia are already feeling the effects, with the supply of local rice becoming deficient and prices for imported rice increasing. Thailand has increased rice prices by over 20% for all grades in response to India's export restrictions, and even Pakistan is quoting higher prices than India for parboiled rice, at $608-612 per tonne.

2. Research Reports on Price Volatility Research Reports on Price Volatility Research agency BMI has reported that India's export restrictions have tightened the global rice market. Export quotations for white rice 5% broken in Thailand rose from $534 per tonne on July 12 to $646 on August 30, an increase of 21%. Vietnam has also seen rice prices rise by 8% in August due to Indian curbs on shipments. While India's parboiled rice exports are usually priced lower than Thailand and Vietnam, the export duty has brought prices more in line with each other. Small African countries are now buying Indian parboiled rice at $550 per tonne, including shipping costs. These restrictions are expected to be in place until at least October 15, with the possibility of extension until early next year or until the country’s elections are over. Trade sources suggest that Malaysia may seek government-to-government negotiations with India to permit rice exports but could face diplomatic challenges. BMI expects renegotiation of sales contracts by exporters of Thai and Vietnamese rice in response to Indian curbs but does not expect similar restrictions from Thailand or Vietnam. The impact of El Nino on Thai rice production will become clear in the fourth quarter, as concerns about water supply could result in a 6% decline in Thailand's rice production. Conclusion Conclusion In conclusion, India's export restrictions on rice are causing ripple effects in the global market, leading to price increases and potential food inflation concerns. The situation is expected to continue until at least October, with uncertainties remaining due to factors like El Nino's impact on rice production. If you want to Buy Basmati Rice In Bulk as a rice importer, or if you are a rice exporter looking to bulk rice export then Tradologie offers the perfect platform for your needs. Tradologie facilities bulk agro- commodities trade across the globe including all kinds of rice. Utilizing the Tradologie platform, purchasers have the opportunity to access premium agro-products like rice, wheat, and spices, among other commodities all at flexible prices. If you want to register as a buyer, click here. If you want to register as a seller, click here. To stay updated about the latest developments in the agro-trading sector, follow Tradologie on all social media platforms.