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Rice traders sign fresh export contracts after 3 weeks

Reuters     April 16, 2020

Indian rice traders have resumed signing new export contracts after a gap of nearly three weeks, four industry officials told Reuters on Thursday.

Traders had stopped signing new export contracts amid a nationwide lockdown to curb the spread of coronavirus, as labour shortages and logistics disruptions hampered deliveries.

Export operations have resumed, said B.V. Krishna Rao, president of the Rice Exporters Association (REA).

"New contracts are getting signed but at a very low pace due to bottlenecks in the supply chain," Nitin Gupta, vice president of trader Olam India's rice business, told Reuters.

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