India Poised to Benefit from Bangladesh's Massive Rice Import Plan
India's rice millers and exporters are optimistic about Bangladesh's decision to import 9 lakh tonnes of rice, predicting increased demand and prices for the cereal. With India being a major global rice exporter, the country is set to benefit significantly from its proximity and competitive pricing.
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- India
Indian rice millers are positive about Bangladesh's decision to import 9 lakh tonnes of rice, foreseeing a spurt in demand and enhanced prices for the cereal. Stakeholders express optimism as India, a key player in global rice exports, stands to gain from its strategic location and competitive pricing.
Bangladesh's plan involves importing 4 lakh tonnes through government tenders and another 5 lakh tonnes via private traders, spurred by concerns over crop loss due to heavy rain. States like Bengal, Jharkhand, Andhra Pradesh, Odisha, and Bihar are expected to benefit most from this development.
Popular rice varieties like 'Swarna', 'Ratna', and 'Miniket' are likely to see price increases, reflecting the heightened demand. This strategic move is seen as a precaution ahead of potential floods, bolstering India's position as Bangladesh's principal rice supplier and strengthening the market for low-to-medium rice varieties domestically.
(With inputs from agencies.)
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