Stocks of Indian broken rice surge; exports sought

FILE PHOTO: A laborer looks on as he loads sacks of rice crops onto a supply truck in a grain market in Karnal in the northern state of Haryana, India, October 15, 2024. —REUTERS

MUMBAI—India needs to allow the export of 100 percent broken rice after inventories of the grain reached a record high in February, nearly nine times the government’s target, exporters told Reuters.

Exports of 100 percent broken rice could help reduce stocks in the world’s biggest exporter and enable poor African countries to secure the grain at lower prices, as well as support Asian animal feed and ethanol producers that rely on the grade.

“The government has way more rice than needed, so there’s no issue with supply. Given that, they should allow exports of 100 percent broken rice,” said BV Krishna Rao, president of the Rice Exporters’ Association (REA).

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The REA has requested the Ministry of Commerce and Industry to lift the ban enforced in 2022 after poor rainfall raised concerns over production.

Reuters

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