Students have expressed their love for the milk’s taste, with many noting that their families also purchase it for home use
uae8 hours ago
India's ban on rice exports prompted retailers in the UAE to anticipate an initial 40 per cent price surge for the commodity. It is a temporary issue and will be resolved soon once the new suppliers enter the market, the UAE retailers said on Tuesday.
Vietnam, Thailand and Pakistan would fill the supply gap of non-basmati rice following India’s export ban due to production shortfall.
India was one of the largest rice exporters, accounting for more than 40 per cent of rice exports, amounting to 55.4 million metric tons last year. India is also one of the major sources of rice imports for the UAE importers.
“India is a major supplier of non-basmati rice to the UAE, and the ban on exports will lead to a reduction in the availability of rice in the market. This could lead to higher prices for rice, as well as supply constraints for businesses that rely on rice as a key ingredient. This could lead to increased reliance on other countries, such as Thailand, Vietnam, and Pakistan,” said Kamal Vachani, group director and partner at Al Maya Group.
“This is only a temporary move as the prices will stabilise and the situation will normalise soon as and when the new seasons start, and supply will be back to normal,” said Vachani.
Dr. Dhananjay Datar, chairman and managing director, Al Adil Trading, said many varieties of non-basmati rice were being imported into the UAE before India decided to ban exports due to lower crops pushing up prices in the local market.
Dr Datar added that alternative markets are Thailand, Vietnam and Pakistan, also among the biggest rice producers.
“Non-basmati rice accounts for around 45 per cent of the local consumption, mostly consumed by the South Indians,” he said, adding that prices could rise by 40 per cent.
As a result, he added, that demand for basmati rice could also see a surge as residents shift to the costlier staple food.
ALSO READ:
Students have expressed their love for the milk’s taste, with many noting that their families also purchase it for home use
uae8 hours ago
People across the country can watch it live on December 2 on local TV channels, cinemas and selected public areas
uae11 hours ago
The tremors were not felt by UAE residents despite the country's close proximity to Iran
uae14 hours ago
He was a founding member of the Dubai chapter of The Institute of Chartered Accountants of India and once served as general manager of Khaleej Times
uae16 hours ago
No casualties were reported by authorities in Aurora province, but thousands of homes were damaged, and heavy losses were sustained
uae16 hours ago
Omar Al Marzooqi is determined to qualify for the 2025 World Cup in Switzerland; his next big goal is the 2028 Olympics
uae18 hours ago
Tamim Al Tamimi had some of his shots displayed at Duroor Nights, an event that celebrated the Duroor system and its profound impact on Emirati life, in Ras Al Khaimah
uae18 hours ago
The budget covers UAE-themed decorations, cash prizes, Emirati-themed photo corner, and giveaways such as chocolates and perfumes
uae18 hours ago