India's rice exports likely to grow to 6m metric tons
2012-01-10 11:28:18
The All India Rice Exporters Association's president, Vijay Setia, said that in the year ending March 31, the country's rice exports might grow to reach 6 million metric tons, from 2.2 million tons in the previous year, reported Gulf News.
Setia added that since September, when India ended its 3-year ban on rice exports, the country exported over 1.8 million tons of non-basmati rice, adding that this year's shipments would also include aromatic basmati rice.
He also said that the increase in rice exports from India, the world's second-largest producer, would result from a record crop, and as importers search for alternatives to expensive supplies from Thailand, adding that India wouldn't restrain exports as local stockpiles were comfortable.
It is worth noting that according to the United Nations, cheaper rice, staple for half the world's population, may lessen international food costs, which fell for a fifth month in November.