India’s rice export halt stirs concerns of 10% surge in Thai rice prices

Potential tremors in the global rice markets may soon be felt in Thailand as India calls a halt on non-basmati white rice exports, according to high-ranking industry insiders. The abrupt decision, communicated by Indian authorities this week, immediately ignited concerns among Thai rice traders and industry power players, with predictions of an imminent 10% surge in local rice prices.

The honorary president of the Thai Rice Exporters Association, Chookiat Ophaswongse is one such expert who has voiced his concerns about the impending ripple effects of India’s decision on Thailand’s economy. Ophaswongse has indicated that the export ban could lead to Thai rice mills and exporters holding off on purchase orders until they can fully assess the extent of the impact. This…