Global Rice Prices Drop as India Lifts Export Curbs

Global rice prices have declined by over 10% as India lifted restrictions on rice exports, coupled with the arrival of new crops from Pakistan and Myanmar. India’s decision to resume exports has placed downward pressure on prices, with Thailand, Pakistan, and India offering competitive rates. Lower container costs and a strong U.S. dollar have further benefited international buyers.

Despite recent declines, demand remains steady as nations like the Philippines and Malaysia look to secure rice stocks. The Indian government’s recent policy adjustments, including removing duties on parboiled rice and ending the minimum export price (MEP) on white rice, have increased rice availability for the global market, making Indian rice particularly affordable.

Key Highlights

# Rice prices dropped over 10% after India lifted export restrictions.

# India’s prices now lead in competitiveness, benefiting global buyers.

# Lower container rates and a strong dollar support further trade.

# Nations such as the Philippines are actively purchasing rice stocks.

# India’s rice production is estimated at a record 137.83 million tonnes.

Rice prices in the global market have plummeted by more than 10% in the past two weeks as India lifted curbs on rice exports. The arrival of fresh rice harvests from Pakistan and Myanmar has further driven prices down. Notably, India’s export-friendly rates have created a price competition, with the country’s 5% broken white rice now offered at $444-448 per tonne, lower than Thailand’s $507 and Pakistan’s $463-467. Even in the 25% broken category, India remains highly competitive at $434-438 per tonne.

This article has been republished from The investing.com