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. “Nafed is in a position to supply up to 500,000 tonnes rice to Bangladesh." A senior official with Bangladesh’s food ministry said they could buy 100,000 tonnes of parboiled rice and 50,000 tonnes of white rice under a government-to-government deal. India could sell parboiled rice at around $407 and white rice at around $417 per tonne on a cost, insurance and freight (CIF) liner out basis, an Indian government official with knowledge of the matter said. “Bilateral deals will accelerate India’s rice exports," said B.V. Krishna Rao, president of the Indian Rice Exporters’ Association.

Source: Mint December 25, 2020 02:03 UTC