West African rice market adjusts to price drops after India ends export duty

West African rice buyers are adjusting to India’s recent removal of its 10% export duty on parboiled rice, which has contributed to price drops in the region. Platts, part of S&P Global Commodity Insights, assessed parboiled 5% STX CFR Cotonou rice at $535/mt on Oct. 25, its lowest level in 11 months and down $25 from Oct. 22 when India…West African rice buyers are adjusting to India’s recent removal of its 10% export duty on parboiled rice, which has contributed to price drops in the region. Platts, part of S&P Global Commodity Insights, assessed parboiled 5% STX CFR Cotonou rice at $535/mt on Oct. 25, its lowest level in 11 months and down $25 from Oct. 22 when India…Read More