AVN 66.35 Increased By ▲ 1.15 (1.76%)
BAFL 30.85 Increased By ▲ 0.11 (0.36%)
BOP 4.85 Increased By ▲ 0.05 (1.04%)
CNERGY 3.76 Increased By ▲ 0.05 (1.35%)
DFML 14.30 Increased By ▲ 0.09 (0.63%)
DGKC 40.98 Decreased By ▼ -0.07 (-0.17%)
EPCL 46.56 Increased By ▲ 0.11 (0.24%)
FCCL 11.35 Decreased By ▼ -0.05 (-0.44%)
FFL 5.04 Decreased By ▼ -0.01 (-0.2%)
FLYNG 5.85 Increased By ▲ 0.05 (0.86%)
GGL 10.36 Increased By ▲ 0.03 (0.29%)
HUBC 66.79 Decreased By ▼ -0.08 (-0.12%)
HUMNL 5.65 Decreased By ▼ -0.06 (-1.05%)
KAPCO 27.94 Increased By ▲ 0.18 (0.65%)
KEL 2.20 No Change ▼ 0.00 (0%)
LOTCHEM 25.10 Increased By ▲ 0.20 (0.8%)
MLCF 21.38 Decreased By ▼ -0.06 (-0.28%)
NETSOL 85.12 Increased By ▲ 1.52 (1.82%)
OGDC 92.38 Increased By ▲ 6.48 (7.54%)
PAEL 11.05 Increased By ▲ 0.04 (0.36%)
PIBTL 4.19 Decreased By ▼ -0.03 (-0.71%)
PPL 79.20 Increased By ▲ 4.72 (6.34%)
PRL 13.55 Increased By ▲ 0.12 (0.89%)
SILK 0.92 No Change ▼ 0.00 (0%)
SNGP 41.99 Increased By ▲ 1.59 (3.94%)
TELE 5.86 No Change ▼ 0.00 (0%)
TPLP 15.76 Increased By ▲ 0.36 (2.34%)
TRG 113.35 Increased By ▲ 1.94 (1.74%)
UNITY 13.71 Decreased By ▼ -0.04 (-0.29%)
WTL 1.15 Increased By ▲ 0.01 (0.88%)
BR100 4,076 Increased By 38.8 (0.96%)
BR30 14,758 Increased By 346.2 (2.4%)
KSE100 40,765 Increased By 293.5 (0.73%)
KSE30 15,309 Increased By 146.3 (0.96%)
Follow us

NEW DELHI: India, the world’s biggest rice exporter, has ample stocks of the staple and there is no plan to restrict exports, the top official at the food ministry said on Monday.

India’s surprise decision to ban wheat exports on May 14 raised concerns about potential curbs on rice exports as well, prompting rice traders to step up purchases and place atypical orders for longer-dated deliveries.

“We have more than sufficient stocks of rice, so there is no plan to consider this,” Food Secretary Sudhanshu Pandey said responding to a question about whether India would consider any curb on rice exports. India currently has more than sufficient stocks of rice, and local prices are lower than the state-set prices at which the government buys paddy rice from farmers.

Milled and paddy rice stocks at government granaries of 57.82 million tonnes are more than quadruple a target of 13.54 million tonnes. India exports rice to more than 150 countries, and any reduction in its shipments would fuel food inflation.

India, also the world’s biggest rice consumer after China, has a market share of more than 40% of the global rice trade.

Comments

Comments are closed.

India holds ample rice stocks

Intra-day update: rupee sees improvement against US dollar

Talks extended for two days: IMF demands govt withdraw power subsidy

All set for inking pact with Denmark under DETI

Major quake kills more than 100 across Turkey, Syria

FBR to check benami transactions of civil servants

Musharraf, the ‘architect’ of Kargil war, dies

TTP celebrates death

COAS reaches UK on five-day visit

China delivers two Hualong-1 nuclear power units

KSA warns sanctions, underinvestment may cause energy shortages