Rice exporters predict higher prices in Q2
Rice exporters expect global prices will increase in the second quarter because of the impact of the El Niño climate phenomenon and India’s rice export restrictions.
In July 2023, the Indian government banned the export of non-basmati white rice, followed by further restrictions on basmati and parboiled rice in response to increasing domestic prices and fear of a shortage because of weather conditions. Global rice prices have increased by 15-25% since the
ban.
Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association, said rice exports tallied 2.5 million tonnes in the first quarter as exporters are committed to delivering a large quantity, in particular white rice to major Southeast Asian markets such as Indonesia, the Philippines and
Malaysia, as well as Africa and the Middle East.
Read more: https://www.bangkokpost.com/business/general/2772793/rice-exporters-predict-higher-prices-in-q2
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