Commodity Online
Global rice trade is set to rice by 6% this year to a 3-year high of 30 mn tonnes, according to International Grains Council. The global wheat production may decline by 2.37 per cent to 659 million tonnes (mt) in 2010, while output in India, the world's second-largest producer of the grain, is expected to remain stable at last year's level.
A recent report of the Council said that rice trade would be higher than the five-year average due to a rebound in shipments to Asia Deliveries to Far East Asia are forecast to rise 20%, to 8.1 million tonnes, due to strong imports by Bangladesh and the Philippines.
After almost close to two years of the ban on export of non-basmati rice in the wake of fears of domestic shortage of rice from early 2008, the Government has partially lifted the ban on export of non-basmati rice by permitting its exports to Sri Lanka and Nepal with a ceiling on diplomatic grounds to keep the friendly ties with neighbours.
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