After almost 35 years, China has started import of non basmati rice from India, amid border tensions and skirmish in the Himalayan region with face to face troop contacts. China has placed orders of 5K plus metric tonnes of rice from Indian exporters in November and December. Some notable facts: 1. China's rice production has been around 8% lesser than previous year due to supply disruptions and floods 2. India's rice stocks are up by 30% this year and prices lower with ample supply stocks available 3. Indian non basmati rice varieties are multiple and average prices are lower than China's traditional suppliers from Thailand, Indonesia, Cambodia and Pakistan. Around USD 300/MT - USD 340/MT. At present, Indian rice prices are highly competitive. Even higher quality rice - IR 64 (parboiled) around USD 395 to USD 420/MT 4. Traditional suppliers of China such as Thailand, Indonesia and Pakistan have supply crunch for international markets, due to covid effects - production disruptions and stock security consideration for domestic supply 5. Indian exporters are of the opinion that the order from China is not one time but may continue for the next year with increased volume coming in for orders. Atleast continuing for 4-7 months from this december onwards
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