Amid decades of inadequate stocks, China buys India ‘s first rice

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Chinese industry officials have said that for the first time in at least three decades, China has started to import Indian rice, thanks to tightening supplies from Thailand, Myanmar, and Vietnam and a strongly reduced price bid. India is the largest rice exporting corporation in the world and China is the largest importer. Beijing purchases approximately 4 million tonnes a year but forbids purchasing from India, citing problems with quality.

In June, the imports of rice were taken into a confrontation with 20 Indian troops, amid the political uncertainties over the Himalayan frontier war.

India has also tightened investment laws from China and blocked hundreds of Chinese smartphone applications, from Tencent, Alibaba, and ByteDance, among others.

The public sentiment in India was anti-China, but Indian corporations remained loyal to it.

“China has first purchased rice and may next year buy it further, after seeing Indian crop quality,” B.V. “For the first time. On Wednesday, Krishna Rao, president of the Association of Rice Exporters, told Reuters.

Industry officials have suggested that Indian merchants have contracted to export 100.000 tonnes of broken rice for shipments from Dec-February at approximately $300 per tonne of free-on-board (FOB).

Traditional suppliers in China including Thailand, Vietnam, Myanmar, and Pakistan, according to Indian rice trade officials, had minimal surplus export supplies and quoted an additional at least $30 a tonne relative to Indian costs.

The second-largest exporter of rice in the world and a major supplier to China, Thailand, has suffered from the drought impacting the rice crop this year. Shipments could decline to 6.5 million tonnes by 2020, the lowest in 20 years.

Himanshu Agarwal, Managing Director Satyam Balajee, the largest exporting rice from India said, “Thailand, Myanmar, and Vietnam are struggling because of small supply, and finally China was left with no choice but to buy from the region.

“I don’t know how long it will last. At least, the movement has started.”

The Chinese General Customs Administration did not respond immediately to a fax demanding rice import remarks.

“China buying rice from India, or the U.S. or any country is just adding some flavor to the domestic market. The trade has very limited impact on the China market,” says Yin Xiuying, a trade website analyst www.chinagreen.CN, based in Harbin, the Chinese capital of the northeastern Heilongjiang province.

Yin said, “I don’t believe China is going to increase rice imports or keep purchasing more from India.

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