India's October rice exports drop 42% y-o-y on weak demand from Africa

India's rice exports in October fell 42% year-on-year to 485,898 tonnes, government data showed on Thursday, due to weak demand from African countries for non-basmati rice. Smaller shipments from India could help rivals such as Thailand, Vietnam and Myanmar to increase their exports, according to Indian exporters.

"Export demand is very subdued," said Nitin Gupta, vice president of Olam India's rice business. New Delhi mainly exports non-basmati rice to Bangladesh, Nepal, Benin and Senegal, and premier basmati.

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