China resumes imports of Indian broken rice after multi-year pause
China just reopened its doors to Indian broken rice, ending a multi-year pause in imports after China rejected several shipments over worries about genetically modified organisms.
This move comes after a big import run in 2021-22 and India's own export ban in 2022 because of bad weather at home.
The restart is being seen as a good sign for trade between the two countries and a boost for Indian farmers.
Indian rice exporters face higher freight
Even though exports are back on, Indian rice sellers are dealing with higher shipping costs, thanks to pricier fuel linked to the Iran war.
Freight rates have jumped, but Indian rice still undercuts Thai prices by quite a bit.
Looking ahead, India is set for another bumper crop in 2025-26, though global prices could shift depending on harvests in Thailand and Vietnam (and whatever wild weather El Nino brings).