ICRA says rice sales to China may support India’s ailing export mkt.

China’s interest in buying non-basmati rice from India is likely to lend some support to the export industry. In June, China had allowed the import of rice from 19 mills in India. This followed a trade delegation from India visiting China to explore export opportunities for rice, sugar, and soy products to the country. A substantial increase in support price by the Centre in July, and a hike in duty for import of non-basmati rice by Bangladesh to 28% from 2% effective June, are expected to have negatively affected exports of the food grain.