This is according to the latest report by the Ministry of Agriculture and Rural Development.
For the first 5 months of 2019, rice exports were estimated at 2.83 million tons which is equivalent to 1.21 billion USD. The lower rice export value is due to fluctuations in the world market. Indian rice prices hit a seven-month low due to weak demand, while Thai rice prices remained unchanged at $400/ton.
The market is forecast to have no major transactions for the short-term.
