India may ship 290,000 tonnes of broken rice to Mali
global market. The Indian price includes a 20% export duty. A 5% broken rice is being offered at $468-$472 a tonne by India, whereas Pakistan, Vietnam and Thailand are offering it at $488-492, $508-512 and $518 per tonne, respectively.
These three countries are offering the 25% broken rice in the range of $458-498. In contrast, India is quoting this variety at $448-452 a tonne, spot trade sources said. These prices are free-on-board (FOB).
Queries sent to MEA, commerce and food ministries on Sunday remained unanswered till press time. Due to an export ban on fully broken rice, Indian exporters cannot sell it to the international market. However, the Indian government on 24 May allowed the exports of broken rice based on permission given by it for shipments to other countries for meeting their food security needs, though the export of broken rice is banned in general.
The step was taken by the government after it started receiving requests for the same from foreign ministries. As the export ban on fully broken rice is on place since September 2022, African nations, which rely on India to meet its 70% rice consumption have switched to non-basmati rice. In the first two months of the ongoing financial year, import of non-basmati rice by African countries have been 35% higher than the corresponding period last year at nearly 2.1 million tonnes (mt), said executive director of All India Rice Exporters’ Association Vinod Kaul.
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