Parboiled Rice Prices Skyrocket Due to Increased Global Demand

The cost of non-basmati parboiled rice, including the IR 64 variety, has seen a 12% spike in just ten days. This surge is attributed to heightened purchases by markets in Africa and West Asia, which are turning to India to satisfy their domestic requirements. The sudden increase in global demand for parboiled rice comes in the wake of the Indian Centre’s decision to prohibit the export of raw, white rice on July 20. Fearing a potential ban on parboiled rice exports as well, international buyers are now heavily stocking up. Industry leaders are watching closely to see if the government will introduce further export restrictions.