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Non-basmati rice exporters to suffer, while basmati rice exporters could flourish due to export ban

On July 20, with a view to control the soaring prices of this staple food grain in the domestic market, India imposed a ban on export of non-basmati white rice. Industry observers say late monsoon arrival and deficient rains until mid-June have raised serious concerns about paddy output in the country. India is the world's largest rice exporter, accounting for around 40% of the global share. In financial year 2023, India exported 14.24 million tonnes of non-basmati rice. The ban on exports made headlines in several developed nations, causing panic buying in various countries, including the US, Canada and Australia. Countries importing basmati rice are also now concerned about a potential ban on the category and are, therefore, requesting early shipments, which could lead to higher prices in the s ..

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India rice stocks at three times target, easing supply concerns .

Indian rice stocks, including unmilled husk varieties at state warehouses, totalled 37.6 million metric tons on Aug 1, the sources told Reuters.We are quite comfortable in rice," said one of the sources, who asked not to be identified.We are in the tail end of the 2022-23 rice marketing year, and as you can see, our stocks are more than adequate. And then the next crop the round the corner." Stocks held as of Aug 1 include 24.6 million metric tons of rice and 13 million metric tons of the unmilled variety, the sources said. FCI bought 84.6 million metric tons of rice paddy from domestic farmers during the 2022-23 marketing year, yielding around 57 million metric tons of rice.Indian farmers harvested a record 135.5 million metric tons of rice in 2022-23, according to the Ministry of Agriculture & Farmers Welfare.Indian farmers have planted 23.7 million hectares with summer-sown rice so far, according to the farm ministry's latest data, up 1.71% year-on-year, as crucial monsoon rains revived in