Agriculture Minister announced that Indonesia will import 1 million tons of non-basmati rice from India

02-Jan-2025 08:32 AM

Agriculture Minister announced that Indonesia will import 1 million tons of non-basmati rice from India
Agreement signed with the Indonesian government for importing 1 million tons of non-basmati rice.
Export restrictions imposed in July 2023 due to declining production were lifted in September 2024.
India has ample rice stock and a good harvest.
In 2022, non-basmati rice exports reached 22.2 million tons.
This large order could gradually boost the Indian rice market.
IGrain India reports suggest export support will stabilize prices, though it may take 4 months.
Recent price decline in rice is likely to be curbed.