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India may abort the prohibition of rice export Source: http://eyesonvietnam.com Last Modified: May 22, 2009 0:57 India, the second biggest rice exporter in the world, may revoke the command of prohibiting rice export because of the good crop this year which increase the quantity of inventory rice. However, before this command is aborted next month, India Government will promote purchasing rice from farmers to reserve. Food Corp. of India, the biggest rice purchaser in this country, has bought 28.6 million tons of rice in this crop, setting a new record, after the Government increased the floor price and opened 28 rice purchasing agencies nationwide. Since rice price accelerated last year, the Government prohibited exporting phi -basmati rice to settle the domestic price. Since September of 2008, India Government has loosened the export limitation and allowed to export high quality rice to Africa countries, Nepal, Bangladesh. Rice export in ten months ending in late January of 2008 amounted to 5.63 million tons, and then dropped to 1.53 million tons in the next 11 months ending in February 2009. The output may reach 99.37 million tons in the year ending in June 2009 compared to 96.69 million tons in the previous year. |
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