India has hit a jackpot of riceIndia’s rice exports in 2020 may rise by 42% from a year ago to record highs because of reduced shipments from rival exporters and a depreciating rupee, Reuters reports.
Higher shipments from India, the world’s biggest rice exporter, could cap global prices, reduce the country’s bulging inventories and limit government purchases from farmers.
Its rice exports could jump to 14 million tonnes in 2020, up from last year’s 9.9 million tonnes, which was the lowest in eight years.
Thailand’s shipments are falling due to drought, and Vietnam is struggling with a poor harvest, and their share of exports is coming to India.