Indian rice producers fall as govt restricts exports

KRBL

09/09/2022 05:08

** Shares of Indian rice producers LT Foods  LTOL.NS , GRM
Overseas  GRMO.BO , Chaman Lal Setia Exports  CLSE.NS  and
Kohinoor Foods  KOFO.NS  fall as much as between 2.8% and 3.7%
    ** India banned exports of broken rice and imposed a 20%
duty on exports of various grades of rice on Thursday
 urn:newsml:reuters.com:*:nL1N30F1GI
    ** Move comes as the world's biggest exporter of the grain
tries to augment supplies and calm local prices after
below-average monsoon rainfall curtailed planting 
    ** New duty likely to discourage buyers from making
purchases from India and prompt them to shift towards rivals
Thailand and Vietnam
    ** Indian exports would fall by at least 25% in coming
months because of the duty, says Himanshu Agarwal, executive
director at India's biggest rice exporter Satyam Balajee 



 (Reporting by Atreya Raghavan in Bengaluru)
 ((Atreya.Raghavan@thomsonreuters.com; Mobile: +91 8527959656))