Reposted from Bloomberg
By Pratik Parija & Prabhudatta Mishra
Rice exports from India, the world’s second-largest grower, are poised to slump from a record as supplies from Vietnam, Myanmar and Pakistan widen a global glut, according to the International Rice Research Institute.
Shipments including the aromatic basmati variety may decline 32 percent to 7 million metric tons this year from 10.25 million tons in 2012, said Samarendu Mohanty, a senior economist with the Philippines-based organization. This compares with 9 million tons estimated by the Foreign Agricultural Service of the U.S. Department of Agriculture.
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