Rice prices set to climb further after India export ban, trade at standstill
Source
Posted on
Photo By Agrihunt
Asian rice trade paused on Friday to digest the previous day’s ban by India, by far the world’s biggest supplier, of a major share of its exports of the staple, with prices expected to climb substantially in coming days, three traders said.
India, which accounts for 40% of world rice exports, on Thursday ordered a halt to its largest rice export category to reduce domestic prices, which have climbed to multi-year highs in recent weeks as erratic weather threatens production.
