India’s total rice shipments saw a 7.3% decline in volumes and an
18% fall in value in the April-November period of the current fiscal.
This makes India the world’s largest rice exporter, beating Thailand.
India’s top position comes not from its scaling up, but by Thailand’s
decline. Thailand’s rice exports were down by 10.8% to 9.8 million
tonnes on a year-on-year basis. The Southeast Asian country attributed
this to global economic slowdown, particularly in countries with high
rice demand and decrease in purchasing power of nations due to falling
oil prices. India’s total rice shipments saw a 7.3% decline in volumes
and an 18% fall in value in the April-November period of the current
fiscal. It is likely to post lower export figures in 2015-16 than the
11.92 million tonnes shipped in 2014-15.
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Indian markets may recover on short covering Benchmark indices witnessed a gap-up opening on Friday, following the negative previous session, as the Street cheered the rates for the new goods and services tax (GST).capitalstars
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