India's Jan-Oct rice exports jump 43% y/y to 11.95 mln T- govt

KRBL

01/12/2020 12:03

MUMBAI, Dec 1 (Reuters) - India's rice exports in January to
October jumped 43% from a year ago as buyers purchased
lower-priced Indian supply to rebuild inventories after rival
exporters trimmed shipments due a drought, government data
showed on Tuesday.
    Higher shipments from India, the world's biggest rice
exporter, could cap global prices, reduce the country's bulging
inventories and limit Indian state stockpiler purchases from
farmers.
    India's rice exports in the first ten months of 2020
totalled million 11.95 tonnes, up from 8.34 million tonnes a
year earlier, according to data compiled by the ministry of
commerce and industry.
    Non-basmati rice exports jumped 61% from a year earlier to
7.6 million tonnes after prices jumped in the world's second
biggest exporter Thailand, making Indian shipments attractive,
said an exporter based in Mumbai.
    The country's basmati rice exports rose 20% to 4.36 million
tonnes on strong purchases from Iraq, the data showed.
    India mainly exports non-basmati rice to Bangladesh, Nepal,
Benin and Senegal, and premium basmati rice to Iran, Saudi
Arabia and Iraq.
    India's rice exports in 2020 may rise by nearly 42% from a
year ago to record highs of 14 million tonnes, the Rice
Exporters Association estimates.  urn:newsml:reuters.com:*:nL4N2GY0MO

 (Reporting by Rajendra Jadhav, editing by Louise Heavens)
 ((rajendra.jadhav@thomsonreuters.com; +91-22-68414378 ; Reuters
Messaging: rajendra.jadhav.thomsonreuters.com@reuters.net))