Disruption in the world rice market; a third of India's exports are blocked
Rice
India
Published Jan 18, 2022
Original content
In India, nearly a third of rice exports scheduled for this month are blocked due to lack of freight train availability. Most traders therefore stopped signing export contracts in February to avoid demurrage charges, the maritime term for delay. These volumes relate to more than 500,000 tonnes (t) of non-basmati rice which must be transported by train, in particular from the producing state of Chhattisgarh to the ports in the east of the country, traders told Reuters. This is part of the million and a half tonnes of rice that India had planned to export this month. “Cargoes cannot move from production centers to ports due to the low number of freight trains,” confirmed Nitin Gupta, vice president of trading giant Olam. “As there is no visibility on the availability of trains, no one is offering new cargo. » “For short-term shipments, Asian and African buyers have so far turned to Thailand, Myanmar and Pakistan. Indian exports may fall this first quarter to March,” a trader said. ...
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