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Rice exports to gather steam on weak rupee

NEW DELHI: The weakening rupee has made Indian rice more competitive globally and exporters feel that such a trend would help them expand markets.

“The exports have been good so far. The currency depreciation has made Indian rice more competitive, ” said Mr Vijay Setia, President of All India Rice Exporters Association. However, the weak currency is not a good sign in the long run.
Since the beginning of the current financial year, the rupee has depreciated 5.5 per cent against the dollar.


Iraq keen to import rice, wheat from India

 Iraq will buy 100,000 tonnes of rice from India and is keen to increase import of wheat, sugar and other agricultural products in a bid to diversify the trade basket, Iraq's Trade Minister Kheer Allah Hassan Babkr said Tuesday.

"We are buying 100,000 tonnes of rice from India. Within a few weeks, the shipment will reach Iraq," Babkr told reporters here on the sidelines of a business meeting.
"Our annual requirement of rice is 1.2 million tonnes. We produce only 200,000 tonnes, the rest has to be imported.

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