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Rice exporters in Thailand and Vietnam are re-negotiating prices on sales contracts for around half a million metric tons for August shipments, two trade sources said, as India's ban has tightened global supplies. ....
Rice exporters in Thailand and Vietnam are re-negotiating prices on sales contracts for around half a million metric tons for August shipments, two trade sources said, as India's ban has tightened global supplies. Exporters are rushing to cover rice supplies from farmers who have raised prices following a surge in the world market, putting millions of dollars worth of deals at risk. Rice farmers and exporters who had bought shipments in advance are set to gain from tightening world supplies, while buyers are likely to lose despite booking cargoes before India's announcement of ban as sellers renegotiate contracts to get higher prices. ....
Rice exporters have approached the commerce ministry over the ban on the export of non-basmati rice, saying that many of them have letters of credit from foreign buyers and if they do not fulfil the contracts, they could face international arbitration. Failing to fulfil export commitments could also hurt India s image in the global markets, they said. ....
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RICE RATIONING begins in America after India bans exports; 20-pound bags soar from $16 to almost $50 – NaturalNews.com naturalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalnews.com Daily Mail and Mail on Sunday newspapers.