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India rice shipments slow as stronger rupee lifts export prices

Reuters  |  MUMBAI 

By Rajendra JadhavMUMBAI (Reuters) - India's non-basmati rice exports are likely to slow over the next few months as its shipments of the grain have become too expensive on the world market due to a rally in the rupee and an increase in local paddy prices. Lower shipments from the world's biggest rice exporter will give rivals Vietnam, Thailand and Cambodia a chance to raise their share of the global market. "Other origins are cheaper than India. There will be definitely a slowdown in exports," Nitin Gupta, business head of rice at Olam India, told Reuters. India was offering 5 percent broken ...

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First Published: Tue, August 08 2017. 16:40 IST