India pressured to relax rice rules
INDIA is forecast to turn in a bumper rice harvest of almost 85m tonnes putting pressure on the government to relax curbs on exports.
The restrictions were imposed because of concerns that the federal pool, used to control price fluctuations, would fall below the mandatory level of 10m tonnes.
Indias export ambitions are likely to be thwarted by a reduction in demand by Bangadesh, formerly a big market.
Better quality rice coming out of Thailand is some $25 a tonne cheaper than Indian rice.
- Financial Times 08/09/99 page 42