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Reuters reveals Indian rice traders stop new export deals as freight train shortage blocks shipments

Reuters broke the news that nearly a third of India’s rice exports for this month are stuck due to a shortage of freight trains, and most traders have stopped signing February export contracts to avoid demurrage charges. The slowdown in exports from India, the world’s biggest rice exporter, has allowed rival suppliers such as Thailand, Myanmar and Vietnam to increase overseas sales at higher prices. Shipments of more than 500,000 tonnes of non-basmati rice that need to be transported to ports on India’s east coast from the central state of Chhattisgarh have been stuck due to the shortage of freight trains.  

The post Reuters reveals Indian rice traders stop new export deals as freight train shortage blocks shipments appeared first on Reuters News Agency.

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