India allows broken rice exports backed by already issued LCs
Published on: October 13, 2022.
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MUMBAI, Oct 12 (Reuters) – India will allow overseas broken rice shipments of 397,267 tonnes backed by letters of credit (LCs) issued before Sept. 8, the government said in a notification on Wednesday, as a sudden ban on exports of the grain prevented the loading of cargoes.
On Sept. 8, India banned exports of broken rice as the world’s biggest exporter of grain tries to augment supplies and calm local prices after below-average monsoon rainfall curtailed planting.
Source: https://www.reuters.com/markets/commodities/india-allows-broken-rice-exports-backed-by-already-issued-lcs-2022-10-12/
