India's rice exports may find its way to Indonesia
Friday, 24 February 2012 | 12:28
India's non-basmati rice may find its way to Indonesia as the country plans to import 2 million tons of rice this year to ensure food security.
Earlier, according to a Reuters report, the country had aimed to avoid rice imports this year but output from the world’s third-largest grower is again falling short of forecasts due to wet weather and damage to crops by disease.
Indonesia's imports are expected to come from government to government agreements.
Last month Indonesia had imported 200,000 tons of rice from Myanmar after signing an annual agreement.
Indonesia is expected to produce 68 million tons of unmilled rice this year, below a previous forecast of 72 million.
Meanwhile, India is experiencing record rice production of 102.75 million tons and government has allocated around 4 million tons of rice for exports and till now, the country exported around 2.3 million tons.
India is offering rice at cheaper rates than other countries to the global buyers which could attract Indonesia.
Last year, Indonesia imported rice from Thailand, Vietnam and India.
Source: Commodity Online
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