India, the world’s second-biggest rice producer, should scrap a ban on most overseas shipments of the grain to allow sales of at least 3 million tonnes this year after a record crop boosted stockpiles, an exporters’ group said.
“We have a surplus and we shouldn’t allow the grain to rot because of the ban,” Vijay Setia, president of the All India Rice Exporters’ Association, said. After 99 million tonnes harvest, there was a surplus of about 6 million tonnes. A resumption of full exports from India may help to extend the 41 per cent decline in global rough rice prices over the past years.
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