Indian Rice: The transportation of one million tons of rice has been stopped not by one or two. What are the reasons for stopping all these lakhs of tons of rice? Because these..
Indian Rice: The transportation of one million tons of rice has been stopped not by one or two. What are the reasons for stopping all these lakhs of tons of rice? Why have their exports and imports stalled? The Center on September 8 imposed a ban on the export of Nuka rice. Not only that, it imposed 20 percent duty on various types of exports. Because India is the largest grain exporter in the world. Rainfall is below the monsoon average. This is trying to increase supplies and prices. This decision was taken by the central government. Due to restrictions imposed on India’s rice exports, trade in Asia has come to a standstill. Buyers are looking for alternative supplies from Vietnam, Thailand and Myanmar.
Officials say that contracts are being canceled due to rising prices here. The war in Ukraine has already disrupted many trade transactions. Many countries are working hard to increase supply and fight inflation. Rice has also joined the list of commodities facing export controls this year. With this decision taken by India, rice prices in Asia have increased by five percent. It is expected that there will be more increase in this week.
Traders are expressing deep concern as rice trade has stopped across Asia. India’s share in global shipments is more than 40 percent. That’s why they cannot say how much the price will increase in the coming days.. Traders. Rice is a staple food for about 300 crore people. Even in 2007, when India banned exports, global prices rose to around $1,000 per tonne. At present rice loading has stopped at Indian ports. None of the buyers are ready to shell out more levy than previously agreed upon. Due to this, about 10 lakh tons of grain got stuck somewhere. Although some are ready for new contracts, the traders are trying to fix the pending contracts anyway.
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