Rice Prices Rise

Posted on News Apr 2008 - by Tandoori Magazine
Rice Prices Rise

The soaring price of rice could lead an equal hike in curry prices this year, cautions an industry spokesman.

The price of rice, a staple dish in Indian cuisine, has jumped by 60 percent and the Indian speciality, basmati, has doubled in value. The director of the Rice Association Alex Waugh, said: “The big producers like China and India have restricted their exports so that price rises don’t hit their own people so much. “A cost increase of that magnitude is going to feed through and this will probably see the price of curry increase.”

With India restricting its exports, the only other main exporters are the USA and Thailand, which has led to a dramatic decline in basmati stocks. The UK imports over 200,000 tonnes of rice each year. 

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