India eyes more rice exports as tensions with Pakistan ease, monsoon starts early
Rice prices have stabilised in Asia after they spiked over supply concerns resulting from the conflict between India and Pakistan
Monsoon rains arrived on May 13 – about a week earlier than usual – in India’s southernmost territory, the Andaman and Nicobar Islands, and are expected to be above normal and evenly distributed for a second consecutive year, according to D.S. Pai, a senior scientist at the India Meteorological Department.
The rains are forecast to reach the southern mainland state of Kerala by May 27, slightly ahead of the typical onset in early June.
Only parts of the country’s northeast and southern interior might see below-normal rainfall, Pai said.
The monsoon season – typically between June and September – brings around 70 per cent of India’s annual rainfall. Rice cultivation is highly dependent on the monsoon rainfall in the Indian subcontinent.
Traders said prices of rice had started stabilising in India after a 10 per cent to 12 per cent jump recently amid soaring tensions between India and Pakistan. A ceasefire has been in place since May 10 after both countries negotiated an end to their latest clash.