India, the world’s biggest rice exporter, is offering a steep discount to supplies from rivals Thailand and Vietnam to cut its surplus after a bumper harvest. “We are negotiating with Bangladesh,” said a spokesman for NAFED (the National Agricultural Cooperative Marketing Federation of India Ltd). “NAFED is in a position to supply up to 500,000 tons rice to Bangladesh.”A senior official with Bangladesh’s food ministry said they could buy 100,000 tons of parboiled rice and 50,000 tons of white rice under a government-to-government deal. India could sell parboiled rice at around $407 and white rice at around $417 per tons on a cost, insurance and freight (CIF) liner out basis, an Indian government source said. “Bilateral deals will accelerate India’s rice exports,” said BV Krishna Rao, president of the Indian Rice Exporters’ Association.

Source: Dhaka Tribune December 24, 2020 10:07 UTC