Ban on rice exports expected to be lifted

Ban on rice exports expected to be lifted
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First Published: Wed, May 20 2009. 10 14 PM IST
Updated: Wed, May 20 2009. 10 14 PM IST
New Delhi: India, the world’s second biggest producer of rice, may scrap a ban on overseas shipments after a record harvest increased stockpiles, a government official said.
The government will assess reserves, purchases from farmers and supplies in the country before ending the curbs next month, said the official, who didn’t want to be identified because the information isn’t public.
Global rice prices have slumped by half from a record in 2008 as supplies rose and the global recession punctured the commodities boom. The ban was imposed after political parties protested against rising food costs.
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First Published: Wed, May 20 2009. 10 14 PM IST
More Topics: Rice | India | Harvest | Money Matters | Commodities |