sufficient supplies of Rice to meet domestic demand

 India's top rice shippers are convinced the government will not follow other countries in adopting restrictions on grains exports since the nation has more than sufficient supplies to meet domestic demand. Record harvests imply rice production will climb to 117.47 million metric tons in 2019-20, while wheat output may grow to an all-time large 106.21 million tons, according to the farm ministry. Bumper crops will help the country avoid curbs on international sales, based on a few of the country's key exporters. Since the coronavirus continues to spread across the Earth, panic buying and worries over supply chain disruptions have contributed many states including Vietnam, Russia and Kazakhstan, to quit exporting some staple foods to shore up supplies in the home. That has raised questions over whether India, the world's biggest exporter of rice, will follow suit. "India is not deficient in production and, in the immediate foreseeable future, there does not appear to be a cause for concern over food safety," stated Vijay Setia, manager at Chaman Lal Setia Exports Ltd., a rice miller and exporter. "We might have sufficient surplus for exports." Continued shipments of rice from India may trendy costs and stop consumers from fear buying. Vietnam, the world's third-largest shipper, has temporarily suspended new rice exports, while Myanmar also stated it may cut overseas sales to steer clear of domestic shortages. Rough rice futures in Chicago are around the most powerful for almost six years. Biryani, PilafDemand for Indian basmati rice, a noodle grain used in dishes such as biryani and pilaf, has improved recently, largely from the U.S. and Europe, according to Ashwani Arora, chief executive officer of LT Foods Ltd.. There might also be an increase in demand from Middle Eastern countries, '' he said. "That might increase exports" in the financial year from April 1, Arora said. Global milled rice production will likely be little changed from a year earlier at 499.31 million tons from 2019-20, based on data in the U.S. Department of Agriculture. Ending stockpiles are seen at a record 182.3 million tons, up about 4 percent from a year before, the data reveal. While global grain stocks are rather comfortable and the weather forecast this season rather positive, states may adopt export limitations or increase stockpiling if the snowball accelerate quicker than anticipated or when the crop outlook deteriorates, Fitch Solutions stated in a report. India has imposed export curbs during similar situations previously, it said. Though there are no concerns right now,"when the fear of the unknown prevails and markets get dented with hoarding etc., then of course various governments have to resort means at their disposal to deal with the circumstance," explained Setia, a former president of the All India Rice Exporters' Association, that has traded the product for at least four decades. "Imposing restrictions on external trade may be one such measure," he explained. Shipments of rice have slowed a bit due to logistics problems, such as a shortage of workers and truck drivers, caused by the nationwide lockdown, said Vinod Kaul, the executive director of the institution. "The lockdown is going to have some effect and we can not prevent it," Kaul said. "There is not any movement by the authorities to prohibit exports."

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