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Rice traders sign fresh export contracts after 3 weeks

Rice traders sign fresh export contracts after 3 weeks

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

Reuters
  • Updated Apr 16, 2020 7:39 PM IST
Rice traders sign fresh export contracts after 3 weeks

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.

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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.

Also Read: Sugar production dips 20% to 24.7 million tonnes

Also Read: Coronavirus lockdown: Amartya Sen, Raghuram Rajan, Abhijit Banerjee suggest economic measures

Published on: Apr 16, 2020 7:30 PM IST
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