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3-India Allows Shipment of 650,000 Tonnes of Broken Rice to 3 African Nations

This move comes as part of India's commitment to retain cordial economic ties with the African continent and indicates a positive future avenues for rice exporters, following a similar exemption announced in October for non-basmati white rice to countries such as Guinea, Ivory Coast, Seychelles, and Cameroon.<br><br>

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3-India Allows Shipment of 650,000 Tonnes of Broken Rice to 3 African Nations

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  1. India Allows Shipment of 650,000 T India Allows Shipment of 650,000 Tonnes of Broken Rice to 3 African Nations Nations onnes of Broken Rice to 3 African In a significant development, India, the global leader in rice exports, has paved the way for fresh export opportunities by granting permits for the shipment of 650,000 tonnes of broken rice to three African nations: Senegal, Mali, and Gambia. This move comes as part of India's commitment to retain cordial economic ties with the African continent and indicates a positive future avenues for rice exporters, following a similar exemption announced in October for non-basmati white rice to countries such as Guinea, Ivory Coast, Seychelles, and Cameroon. Tradologie.com, as next-generation B2B commodity platform, brings you the latest update on this news. It’s the only online portal where you can export bulk rice globally at a fraction of cost with just a click. A Closer Look At The Current Move: A Closer Look At The Current Move: Senegal is gonna get a hefty 500,000 tonnes of rice, and Mali and Gambia are bringing in 100,000 tonnes and 50,000 tonnes, respectively. The whole export deal is being handled by the National Cooperative Exports Limited, and they're aiming to get those shipments to their destinations in the next six months. This move by Indian authorities shows they're taking steps to boost trade ties with African nations, pointing to some big chances to export bulk rice, just like in the past. India's Dominance in Global Rice Trade India's Dominance in Global Rice Trade India's significance as a rice exporter cannot be overstated, as it accounts for a staggering 40% of worldwide rice trade. With a diverse customer base spanning more than 150 countries, India has been a

  2. key player in shaping global rice dynamics. However, recent policy shifts within India have sought to balance the demands of the international market with domestic considerations. Managing Domestic Concerns Managing Domestic Concerns Since September 2022, India has implemented restrictions on specific cereal categories to curb domestic price surges. Notably, a 20% tax has been imposed on parboiled rice shipments, coupled with a floor price of US$950 per tonne for exported basmati rice. These measures, while influencing the flow of shipments, aim to maintain stability in the domestic market. Despite marginal increases in retail rice prices over the past year, these measures have been essential in ensuring a steady supply for local consumers. Future Outlook and Global Implications Future Outlook and Global Implications The Rice Exporters Association (TREA) suggests that these restrictions could persist until the upcoming legislative elections scheduled between April and May. This prolonged period of constraint raises concerns about the potential impact on global cereal prices, especially in regions heavily dependent on Indian cereals, such as Africa. However, the recent move is indicating a positive future in terms of trade opportunities for exporters and importers. According to data from the TradeMap platform compiled by the Ecofin Agency, the African region spent a substantial US$3.9 billion in 2022 on the import of 11 million tonnes of milled rice from India. This volume represents almost 70% of the continent's total rice purchases, accounting for 27% of its annual consumption, which stands at 40 million tonnes. Conclusion: Conclusion: In conclusion, as India slightly opens up rice export channels to Africa, the future of rice trade appears promising again. Despite current domestic constraints, the strategic move indicates resilience and adaptability. Tradologie.com stands as a key facilitator, offering a seamless platform to export bulk rice. As India navigates domestic challenges, the prospect of renewed rice exports holds significant potential, ensuring continued global dominance in the rice trade landscape. Tradologie.com offers the best platform for your needs if you're a seller or buyer of bulk agro commodities like rice. With 70K+ verified sellers and 700K+ verified buyers from more than 100 countries Tradologie.com is expanding quickly. If you want to register as a buyer, click here, If you want to register as a seller, click here.

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