India's rice stocks surge to record high, boosting export prospects

Quick Summary:

Rice reserves, including unmilled paddy, in state granaries totalled 44.1 million metric tons on Dec.1 against a government target of 7.6 million tons, data compiled by the Food Corporation of India showed.

Last year's patchy monsoon rains led New Delhi to restrict exports of all grades.

Indian wheat prices have jumped to a record high due to strong demand, limited supplies, and a delayed release of stocks from its government warehouses to augment supplies.

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Article Details

Author / Journalist: Reuters

Category: Business

Markets: IndiaReunion

Topics: Basmati rice Food corporation of india Rice exports India rice Rice

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-14 @ 11:15:09 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 544 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 24405813

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Official Website: economictimes.indiatimes.com

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News Last Updated: 14 hours ago

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