India to lose top rice exporter spot to Thailand after poor monsoon

Jul 21 2014, 08:25 IST
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Weak monsoon rains curb India's rice crop. Weak monsoon rains curb India's rice crop.
SummaryThailand plans to export 500,000-600,000 tonnes of rice a month from August.

said B.V. Krishna Rao, managing director at Pattabhi Agro Foods Pvt Ltd, a leading non-basmati rice exporter in India.

In the June quarter, India exported 1 million tonnes of non-basmati rice, dealers estimated, down almost 30 percent on a year earlier. The country is offering 5 percent broken rice at around $425 per tonne FOB, up from $410-$415 last month.

Indian farmers had planted paddy on 8.64 million hectares as on July 11, compared to 11 million hectares a year ago.

In the year ended March 31, India exported a record 10.86 million tonnes rice. Rao from Pattabhi Agro estimates overseas sales will drop to 8 million tonnes in 2014/15.

"Certainly Thai exporters will gain from India's loss. The quantum depends on how monsoon pans out in next two months," said a New Delhi-based dealer with a global trading firm.

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