Rice exports are expected to increase to around four million tonnes in ’02 helped by lower prices and large orders. The country shipped around 1.7m tonnes in ’01 after it reduced its export price in a bid to trim its bulging stocks of 25m tonnes. Indian rice, around $15 to $20 cheaper than leading exporters such as Thailand and Vietnam, is getting good trade enquires from the Middle East, Asia and Africa. India is currently selling around 200,000 to 250,000 tonnes every month. Traders said the Philippines, Indonesia and Iraq were among the countries that had made large inquiries and were likely to buy large amounts. Dealers said they were hopeful of winning a large portion of the rice contract floated by the Philippines, one of Asia’s largest rice importers. (Courtesy-The Economic Times) |
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