Global rice prices fall after India allows white rice exports

MUMBAI/HANOI, Sept 30 (Reuters) - Global rice prices fell on Monday after India, the world’s top exporter of the grain, gave the green light to resume exports, boosting global supply and helping poor buyers in Asia and Africa secure more affordable supplies, exporters said. India on Saturday allowed exports of non-basmati white rice. That came a day after New Delhi cut the export tax on parboiled rice to 10%, boosted by an imminent new crop and higher stocks in state warehouses. “Suppliers from Thailand, Vietnam and Pakistan are responding to India’s move by cutting their export prices,” said Himanshu Agarwal, chief executive of Satyam Balajee, a leading rice exporter. “Everyone is trying to stay competitive to maintain their place in the market.” Global rice prices have hit their highest level in more than 15 years following India’s decision last year to ban the export of white rice and impose a 20% duty on parboiled rice exports. The export restrictions imposed by India last ...