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“Every country is going to protect their scrap due to a circular economy being implemented at home,” Sanjay Mehta, president of the Material Recycling Association of India, said in an interview in Mumbai. “Its going to be a very tough situation for us” as the EUs new regulations will likely tighten supplies to India, he said. India is the biggest destination for European scrap after Turkey, and it buys the rest from the US, Central and South America, Asia and the Middle East, according to the industry group.
For the first time in eight years, India's rice output is expected to drop this year, raising the prospect that Prime Minister Narendra Modi's government will extend curbs on exports of the grain to keep a lid on food prices ahead of elections. Production in India, the world's largest rice exporter, is under unusually intense focus after New Delhi banned exports of non-basmati white rice in July, sending global prices surging. However, the state of the crop is hard to predict following an uneven monsoon.