1. Commodity News

China to open its USD 2 bn rice market to India


India has made a deal with China to open up its 2 billion USD rice import based on an agreement signed between Prime Minister Narendra Modi's visit to China.

At Shanghai Cooperation Organisation Summit a protocol on the exports of non-Basmati Rice was signed. Later Chinese authorities visited Indian rice mills and out of that 24 Indian mills were approved for exports of rice to China.

Six out of 24 approved mills, attended seminars and business to business meeting. In which 44 Chinese importers including China National Cereals, Oils and Foodstuffs Corporation (COFCO) took part.

India has established itself as the biggest exporter of rice in the world. Prashant Lokhande, Economic and Commercial Counselor said that the bilateral trade has enabled prospects of exports. 

AK Gupta of the Agricultural and Processed Food Products Export Development Authority, added that before this Indian rice variety has never reached China and also he appealed Chinese importers to try rich varieties of Indian rice.

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