"Indian Rice Exports Hit by Postponed Shipments and Imposed Curbs"

India's imposition of a 20% duty on parboiled rice exports has led to the postponement of around 500,000 metric tons of shipments until after mid-October, as buyers and sellers seek to avoid paying the tax. This delay could deplete inventories in importers such as Benin, Ghana, Côte d'Ivoire, and Liberia, and drive up local prices in those countries, which are already at multi-year highs. Indian exporters have raised prices to a record level of $520 to $540 per metric ton, up nearly 40% from last year. Other major rice producers have also raised prices, leaving African buyers to opt for delaying shipments and waiting for price corrections.