Rice prices in the global market are expected to stay firm until mid-2024 due to India’s export restrictions and potential El Nino risks. BMI predicts a third consecutive deficit in the rice sector, but at a smaller scale than the previous year. Despite the challenges, there is hope for stabilization and increased rice utilization in the future. (Source: The Hindu Business Line)

Pakistan’s trade deficit in the first five months of FY24 decreased by 33.59% to $9.38 billion due to lower imports, thanks to government measures. Exports increased by 1.93% to $12.17 billion, resulting in a positive economic impact for the country.

India’s agricultural export performance suffers as the government imposes restrictions to address potential supply shortages and rising domestic food prices. Critics argue that these restrictions negatively impact countries heavily reliant on imports and could result in food shortages. Source: East Asia Forum.

The Delhi High Court has closed a lawsuit filed by Pakistani entities over the India-Pakistan Basmati rice dispute, allowing India to continue exporting the aromatic rice without any restrictions or legal challenges from Pakistan. This decision is a significant victory for the Indian Basmati rice industry.

The Delhi High Court has dismissed a lawsuit filed by Pakistani entities seeking an injunction against the Indian government to prevent the export of ‘Super Basmati’ rice. The suit was dismissed due to non-prosecution and lack of effective prosecution since 2020.

The dry planting conditions, shrinking reservoirs, and ongoing El Nino weather in Asia are expected to cause a decline in off-season rice production in early 2024. This reduction in yields will tighten supplies and lead to food inflation, impacting major exporting and importing countries like India and Thailand. The Philippines and Indonesia are securing rice supplies in response to the tightening exports and strong demand.

Sindh’s rice sector in Pakistan has shown resilient growth, contributing to the country’s export earnings. Despite challenges like floods and competition, Sindh produced 30% of Pakistan’s rice, with exports totaling 3.717 million tonnes and earning $2.149 billion. The rice industry plays a vital role in Sindh’s economy, providing food, employment, and supporting foreign exchange reserves.

The government has approved the export of wheat, wheat flour, and broken rice to Bhutan, Mali, and Indonesia. Bhutan’s permitted quantity includes 14,184 tonnes of wheat grain, 5,326 tonnes of atta, 15.226 tonnes of maida/semolina, and 48,804 tonnes of broken rice. The exports will be facilitated by the National Cooperative Exports Limited. [50 words]

Delhi High Court heard significant cases on November 30, including a lawsuit on rice exports and the importance of character in appointing Insolvency Professionals. The court also expressed concerns over a wildlife sanctuary event and challenged a ban on GPS devices in commercial flights. These cases highlight the court’s commitment to justice and community welfare.

The Delhi High Court has dismissed a lawsuit by Pakistani entities seeking to prevent Indian rice exports under the name ‘Super Basmati’ due to non-prosecution. The dismissal allows the Indian government to continue permitting rice exports under the trade name.