India keeps rice market under pressure

India keeps rice market under pressure

Bad news for the food planet. The world's top rice exporter, India, is considering extending a tax on parboiled rice exports to keep prices of the grain in the country under control ahead of general elections. A brake on the decline in world prices, which have reached levels never seen in 15 years at around 650 dollars per ton .

The 20% tax on exports of certain varieties of rice was introduced at the end of August. It was supposed to no longer apply from March 31, just before the general election. But the government of Narendra Modi, which will seek a third term, is trying by all means to contain food inflation which rose to 10% in December. He will undoubtedly renew it, according to information from Bloomberg.

This article appeared first on https://www.lesechos.fr/finance-marches/marches-financiers/linde-maintient-le-marche-du-riz-sous-pression-2075699


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