Rice importers growing more
WORLD trade in rice is set to fall to 22.5 million tonnes this year, against last years 27.4m tonnes, because the big importers are now growing more, reports the Financial Times.
The contraction is coming despite a rise in world rice production.
India decided to order a rise of nearly $20/t in the procurement price of rice.
This is expected to see the export of long grain white rice and parboiled rice falling to nearly 2m tonnes over the next year, against 4.3m tonnes last.
There is expected to be an improvement in Indias export of basmati rice over last years 600,000 tonnes.
The only other major exporter of basmati rice in the world is Pakistan, which almost shares the world market with India.
- India pressured to relax rice rules, FWi, 08 September 1999
- Financial Times 15/10/99 page 36