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.
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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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