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Friday, March 29, 2024

Rice prices in India, Thailand, Vietnam, Myanmar set to rise due to adverse weather, armed conflict

Traders and analysts say rice prices in key exporters India, Thailand, Vietnam and Myanmar are set to rise, hitting food importers already suffering from higher costs due to adverse weather and the armed conflict between Russia and Ukraine.

India’s decision to curb rice exports is expected to lift world prices of the staple and trigger a rally in rival wheat and corn markets.
Traders and analysts say rice prices in key exporters India, Thailand, Vietnam and Myanmar are set to rise, hitting food importers already suffering from higher costs due to adverse weather and the armed conflict between Russia and Ukraine.

On Thursday (8 Sep), India banned exports of broken rice and imposed a 20% duty on exports of various grades of rice, as the world’s biggest exporter of the grain tries to augment supplies and calm local prices after below-average monsoon rainfall curtailed…

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