Global rice prices fell on Monday after India, the world’s top rice exporter, resumed exports of non-basmati white rice. The move came after India reduced export duty on parboiled rice to 10%, boosting supply and allowing poorer Asian and African countries to secure more affordable rice. The decision, driven by expectations of a new crop and higher inventories, is providing relief to global markets.
Rice suppliers from Thailand, Vietnam, and Pakistan have responded by lowering their prices to remain competitive. Global rice prices had surged to a 15-year high following India’s earlier export restrictions on white rice and the imposition of a 20% duty on parboiled rice, but this latest move is expected to stabilize the market.
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