India Resumes Export of Non-Basmati White Rice Amid Surging Inventories

India has decided to resume exports of non-basmati white rice as inventories surge and farmers prepare for a new crop. The move is expected to increase global rice supplies and reduce prices. The decision follows a series of measures to ease export restrictions on other rice varieties.

India gave the green light on Saturday to resume exports of non-basmati white rice, as inventories in the world's largest exporter of the grain surge and farmers get ready to harvest a new crop in the coming weeks.

This surge in Indian rice shipments is expected to boost global supplies and exert downward pressure on international prices, compelling other major rice exporters like Pakistan, Thailand, and Vietnam to reduce their rates.

The Indian government has set a floor price of $490 per metric ton for these exports and cut the export tax on white rice to zero, following a series of moves to ease restrictions on premium rice varieties. These measures aim to support local farmers and maintain India's competitive edge in the global rice market.

(With inputs from agencies.)