Vietnamese Rice Exporters Renegotiate Prices For Their Shipments After India’s Rice Export Ban

1. Vietnamese Rice Exporters Renegotiate Prices For Their Shipments After Vietnamese Rice Exporters Renegotiate Prices For Their Shipments After India’s Rice Export Ban India’s Rice Export Ban Since India, which supplies 40% of the world's rice, banned non-basmati white rice exports last month, rice prices have increased by about 20% to 15-year highs. India's decision has decreased supplies from the international market by 10 million tons, or 20% of the globally traded volume. Higher Rice Prices Following India’s Policy Decision Higher Rice Prices Following India’s Policy Decision In response to India's ban on exports last month, two trade sources reported that Vietnamese exporters have renegotiated higher prices for about 500,000 metric tons of rice. This comes as world prices have reached 15-year highs. This is the first confirmation that rice prices are rising as a result of India's unexpected ban, with importers paying more for one of the most commonly consumed staples in the world at a time when supplies are becoming more scarce. Increased Earnings For Exporters Increased Earnings For Exporters Importers such as Indonesia and the Philippines paid between $30 and $80 per ton more than contracts signed at around $550 per ton for fragrant Vietnamese rice before India banned white rice exports in July, according to Singapore-based traders.

2. In comparison to the prices agreed upon prior to India's curbs, this provides sellers with additional income of about $15 million to $40 million. According to a trader at a global trading firm, "Buyers have agreed to pay higher prices for some of the cargoes which they bought for shipment in August." In addition, he stated that 300,000 tons of rice have yet to be loaded at Vietnamese ports, while approximately 200,000 tons have been shipped this month. If you are a rice importer wishing to buy rice in bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie is a transaction-oriented platform that facilitates bulk agro-commodities trade completely from enquiry-to-delivery in a digital manner. The best quality and inspected commodities can be procured at prices which can be directly negotiated with the sellers, thereby giving more margins for both sellers and buyers along with the end consumers, reducing the overall cost of trade. This platform hence grants sellers better access to new global buyers, increasing their overall business orders and profits, as there are no middlemen involved in the trade here. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.