Agriculture Secretary Francisco Tiu Laurel Jr. said he "hopes" the lifting of the India export ban would "signal" the lowering of rice prices in the global market.
Department of Agriculture spokesperson and assistant secretary Arnel de Mesa said the return of Indian non-Basmati white rice to the world market would boost available grains for trade globally.
The additional stocks, De Mesa pointed out, could ease the supply pressure in the world market and "create an impact" toward lowering world prices of rice.
Last weekend, India lifted its export ban on non-Basmati rice to prevent oversupply as the country's grain stocks surged recently.
The export ban has been in place since July 2023 as India sought to protect its domestic consumers by shoring up rice stocks to ensure stable retail prices amid concerns in local production and uncertainties in global market and supplies.
Bu hikaye The Philippine Star dergisinin October 01, 2024 sayısından alınmıştır.
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Bu hikaye The Philippine Star dergisinin October 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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