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India has no plans to curb rice exports as local supplies surge – Report

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Rice exports from India, also the world’s second biggest consumer of the grain, jumped to a record 21.2 million tonnes in the fiscal year to March 2022 from 17.8 million tonnes the previous year.

The Centre has no plan to curb rice exports as the world’s biggest exporter of the staple has sufficient stocks and local rates are lower than state-set support prices, Reuters reported, quoting trade and government sources.

India banned wheat exports on May 14, just days after New Delhi forecast record shipments of 10 million tonnes this year, as a heat wave hit output and sent domestic prices to record highs, the Reuters report said.

prices or availability for exports and domestic requirements,” said a senior government official involved in the decision making.

“At this stage, there is no consideration at all to prohibit rice exports,” said the source, who didn’t wish to be named in line with official rules.

Rice exports from India, also the world’s second biggest consumer of the grain, jumped to a record 21.2 million tonnes in the fiscal year to March 2022 from 17.8 million tonnes the previous year.

Rice prices are falling, even as exports rise, as India has massive stocks and local purchases by the Food Corporation of India (FCI) – the state stockpiler – are increasing, said B.V. Krishna Rao, president of the All India Rice Exporters Association.

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