{"id":7405,"date":"2023-08-29T10:56:01","date_gmt":"2023-08-29T10:56:01","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=7405"},"modified":"2023-08-29T10:56:13","modified_gmt":"2023-08-29T10:56:13","slug":"indian-rice-shipments-of-500000-tons-postponed-after-new-duty-exporters","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/indian-rice-shipments-of-500000-tons-postponed-after-new-duty-exporters\/","title":{"rendered":"Indian rice shipments of 500,000 tons postponed after new duty- exporters"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"960\" height=\"627\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-186.png\" alt=\"\" class=\"wp-image-7406\" srcset=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-186.png 960w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-186-600x392.png 600w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-186-300x196.png 300w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-186-768x502.png 768w\" sizes=\"(max-width: 960px) 100vw, 960px\" \/><\/figure>\n\n\n\n<p>Labourers unload rice bags from a supply truck at India&#8217;s main rice port at Kakinada Anchorage in the southern state of Andhra Pradesh, India, September 2, 2021. REUTERS\/Rajendra Jadhav\/File Photo\u00a0Acquire Licensing Rights<\/p>\n\n\n\n<p>MUMBAI, Aug 29 (Reuters) &#8211; India&#8217;s move to impose a 20% duty on exports of parboiled rice has prompted buyers and sellers to postpone shipments of around 500,000 metric tons to after mid-October to avoid paying the tax, three leading exporters told Reuters on Tuesday.<\/p>\n\n\n\n<p>The delay in shipments from the world&#8217;s biggest exporter of rice could deplete inventories in importers such as Benin, Ghana, C\u00f4te d&#8217;Ivoire, and Liberia, and boost local prices in those countries, which are already near multi-year highs.<\/p>\n\n\n\n<p>India, which is scrambling to rein-in inflation ahead of state elections later this year, on Friday\u00a0expanded curbs\u00a0on rice exports with a 20% duty on parboiled rice that would be effective until Oct. 15.<\/p>\n\n\n\n<p>&#8220;Buyers are postponing the shipments; nobody is willing to pay the duty,&#8221; said Himanshu Agarwal, executive director at Satyam Balajee, an exporter.<\/p>\n\n\n\n<p>Shipments of around 500,000 tons have been put on hold, said B.V. Krishna Rao, president of the Rice Exporters Association (REA).<\/p>\n\n\n\n<p>Indian exporters were offering 5% broken parboiled variety last week at $450-$455 per metric ton, but since then have raised prices to a record $520 to $540, exporters said, up nearly 40% from a year ago.<\/p>\n\n\n\n<p>&#8220;Even before India imposed the duty, buyers were uncomfortable with the rising prices. Buyers from African countries can&#8217;t afford to buy at the current price level,&#8221; said Rao.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/graphics.reuters.com\/GLOBAL-RICE\/SUPPLIES\/klpyzgykevg\/chart.png\" alt=\"Reuters Graphics\"\/><figcaption class=\"wp-element-caption\">Reuters Graphics<\/figcaption><\/figure>\n\n\n\n<p>Supplies will improve once harvesting of the summer-sown crop starts from October, which will bring down local paddy prices and eventually export prices of rice, Rao said.<\/p>\n\n\n\n<p>India exported a record 22.2 million tons of rice in 2022, including 7.4 million tons of parboiled rice.<\/p>\n\n\n\n<p>Importing countries have few options since other big producers Thailand, Vietnam and Pakistan have raised prices in recent weeks, said a New Delhi-based dealer with a global trade house.<\/p>\n\n\n\n<p>&#8220;African buyers think the best bet is to delay shipments and wait for the price correction,&#8221; he said.<\/p>\n\n\n\n<p>Lower-income consumers in Asia and Africa previously preferred 100% broken rice, exporters said, which was available at $325 per ton, but India banned\u00a0exports of broken rice\u00a0last year.<\/p>\n\n\n\n<p>India, which accounts for 40% of world rice exports, in July ordered a\u00a0halt to its largest rice export category, non-basmati white rice, which fuelled a rally in global rice prices.<\/p>\n\n\n\n<p>Reporting by Rajendra Jadhav Editing by Tony Munroe and Sharon Singleton<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Labourers unload rice bags from a supply truck at India&#8217;s main rice port at Kakinada Anchorage in the southern state of Andhra Pradesh, India, September 2, 2021. REUTERS\/Rajendra Jadhav\/File Photo\u00a0Acquire Licensing Rights MUMBAI, Aug 29 (Reuters) &#8211; India&#8217;s move to impose a 20% duty on exports of parboiled rice has prompted buyers and sellers to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[167,160,159],"class_list":["post-7405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-indian-rice","tag-rice-export","tag-global-rice-news"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Indian rice shipments of 500,000 tons postponed after new duty- exporters - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indian rice shipments of 500,000 tons postponed after new duty- exporters - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"Labourers unload rice bags from a supply truck at India&#8217;s main rice port at Kakinada Anchorage in the southern state of Andhra Pradesh, India, September 2, 2021. 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