India's rice exporters up on potential price rise from shortage

KRBL

19/04/2023 09:46

** Shares of rice exporters such as KRBL  KRBL.NS , LT Foods
 LTOL.NS , Chaman Lal Setia  CLSE.NS  and Kohinoor Foods
 KOFO.NS  surge between 5% and 8% on Wednesday
    ** Analysts say uptick due to ongoing shortage in rice
production
    ** Fitch Solutions says in report that global rice
production set to log largest shortfall in two decades
    ** Rice prices likely to rise in the near term, according to
two analysts
    ** Analysts also add, reopening of borders by two key Gulf
countries, Saudi Arabia and Iran, a near-term positive for rice
exports 
    ** KRBL top gainer in the Nifty SmallCap 100 index
 .NIFSMCP100 , which is down 0.1%, as of 2:03 p.m. IST




 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))