India faces rice storage crisis as another record harvest likely this year

India faces rice storage crisis as another record harvest likely this year

India is the world’s top shipper, and its move to ease export restrictions has helped push Thai prices — an Asian benchmark — down almost 40 per cent from a 15-year high in January 2024. Still, the country’s swelling surplus shows its struggle to find enough demand to meet rising supply. Global stockpiles are expected to reach a five-year high in the coming season, which could keep prices under pressure.

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