SunstarTV Bureau: Amidst the ‘Boycott Chinese Goods’ attempt of India, China has started importing rice from India for the first time in at least two years, informed All India Rice Exporters Association (AIREA).
China, due to tightening supplies and a sharply discounted price offer from India, was forced to buy rice from Indian market.
India is the world’s biggest exporter of rice and China is the biggest importer. Beijing imports around 4 million tonnes of rice annually but has avoided purchases from India, citing quality issues.
The breakthrough comes at a time when political tensions between the two countries are high because of a border dispute in the Himalayas.
“For the first time China has made rice purchases. They may increase buying next year after seeing the quality of Indian crop,” said B.V. Krishna Rao, president of the Rice Exporters Association.
Indian traders have contracted to export 100,000 tonnes of broken rice for Dec-February shipments at around $300 per tonne, industry officials said.
China’s traditional suppliers, such as Thailand, Vietnam, Myanmar and Pakistan, have limited surplus supplies for export and were quoting at least $30 per tonne more compared with Indian prices, according to Indian rice trade officials.
