India rice export prices up again
Ethirajan Anbarasan , BBC
28 March 2008
India has raised the minimum price at which it exports non-basmati rice in a renewed effort to discourage exports and control domestic food costs.
This is the second time in a month that India has raised its minimum price for exporting rice. The price has gone up from $650 to $1,000 per tonne for non-basmati rice.
India is the second-largest rice producer in the world. It usually exports more than four million tonnes of rice a year.
... India ended its reliance on food imports in the 1970s, largely to the government's so-called Green Revolution.
But two years ago, it imported wheat for the first time in six years following a significant drop in its stockpiles. The government wants to avoid a similar situation for its rice stocks. The problem is an international one, as global rice stocks have reached a 25-year low.
(28 March 2008)
Suggested by contributor Dr. Larry Hughes.
Jeffrey J. Brown ("westexas) writes:
I think that we are going to increasingly see bilateral trade between food and energy exporters. It's not a good time to be both a major food and a major energy importer. See Jump in rice price fuels fears of unrest (Financial Times, March 28)
Rice prices jumped 30 per cent to an all-time high on Thursday, raising fears of fresh outbreaks of social unrest across Asia where the grain is a staple food for more than 2.5bn people.
The increase came after Egypt, a leading exporter, imposed a formal ban on selling rice abroad to keep local prices down, and the Philippines announced plans for a major purchase of the grain in the international market to boost supplies. Global rice stocks are at their lowest since 1976.
- Forums
- General
- 2.5 billion in asia feeling the rice shortage
2.5 billion in asia feeling the rice shortage
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
MTL
MANTLE MINERALS LIMITED
Nick Poll, Executive Director
Nick Poll
Executive Director
SPONSORED BY The Market Online