The cereal’s market is ruling at multi-year lows as buyers hold huge inventories
India’s rice exports have dropped by nearly 60 per cent in the first two months of the current fiscal on slack demand. In the global rice market, prices continue to rule at multi-year lows, with some of the buyers still holding huge inventories, traders and analysts say.
“Rice exports have been low over the past two months (April and May). Per tonne prices have dropped below the prices at which the inventories were purchased. Huge volume was purchased in the last quarter of 2024 and first quarter of 2025 as there was a rush to buy after India lifted its curbs on exports in September,” said BV Krishna Rao, President of The Rice Exporters Association.
The situation was such that there was no space to unload in January and there was too much cargo floating on the sea, he said.
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