International Desk: India, the world's largest rice exporter, has recently announced the withdrawal of export duty on parboiled rice, which has had a positive impact on the world market. As a result, the price of rice in the world market has started to decrease. News Nikkei Asia

Rice

According to the report, the average price of Thailand's rice exports fell to $529 per ton last week. Which is 8 percent less than the previous month. In addition, in January this year, the export price of Thai rice reached the highest level in 15 years. Compared to that now the price has decreased by 21 percent. Meanwhile, the price of parboiled rice with 5 percent starch in India was last week between $450 and $484 per tonne, the lowest since August last year. India's 5 percent milled white rice price was $460 to $490 per tonne last week.

Rice prices in the country fell to their lowest level since July last week, according to the Vietnam Food Association. In Vietnam, 5 percent milled rice was sold at $532 a tonne on Thursday, up from $537 last week.

India imposed a ban on rice exports in July last year to maintain supply of rice in the domestic market and control prices. As a result, the price of rice increased by more than 30 percent in less than a year.

Maiyuki Aiyama, a researcher at Japan's International Agricultural Science Research Center, said India plays an important role in controlling the global rice market.

Either now, or never: Hasnat Abdullah

India exported 20.25 million dons of rice in FY 2022-23. Which is 37 percent of global demand. Next in this list are Thailand and Vietnam.