India's Rice Exports Rise 5% Amid Global Price Concerns

India's rice exports have seen a significant increase in the first half of this year, rising by 5% to 12.27 million metric tons from January to June compared to the same period last year. The country's non-basmati rice exports jumped 9.6% to 8.9 million tons, while basmati rice exports fell 5.5% due to disruptions in trade with key Gulf markets.

The increase in exports is attributed to higher shipments of non-basmati rice to African countries, which offset the decline in basmati exports. India's ample supplies have made its rice cheaper than that from other major exporters like Thailand, Vietnam, and Myanmar.

Experts say that the increase in exports will help keep global rice prices stable despite concerns about the El Nino weather pattern affecting production. The country's corn exports also surged 400% to 1.42 million tons due to record production and low domestic prices.