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China’s Rice Exports to Ivory Coast Top 2022 After India Curbs

China’s Rice Exports to Ivory Coast Top 2022 After India Curbs

(Bloomberg) — China exported more rice to the Ivory Coast in the three months through October than in the whole of 2022 after India restricted shipments of the grain, with those curbs likely to extend into next year.

The Asian nation shipped 45,000 tons to the African country in October, matching the volume exported in August, customs data compiled by Bloomberg show. The Ivory Coast was the fourth-biggest buyer of non-basmati rice from India in 2022-23, according to Indian government data.

Top shipper India ramped up its curbs on overseas sales from late July and is expected to maintain those restrictions into next year to contain local prices ahead of an election. An Asian benchmark jumped back above $600 a ton this week after recently cooling from the highest level in almost 15 years.

The Ivory Coast has only purchased rice from China in October and August this year, with the total of 90,000 tons exceeding the 63,500 tons in 2022, according to customs data. Other African nations have boosted purchases from China.

China exported 20,000 tons to the Democratic Republic of Congo in October, the biggest monthly volume since at least July 2018, the figures show. Shipments to Ghana were at 20,000 tons, slightly lower than the record 20,500 tons in August.

https://finance.yahoo.com/news/china-rice-exports-ivory-coast-062520055.html QR Code

Published Date: November 23, 2023

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