India: Rice Procurement For The Current Fiscal Down 3.35 % On Year

According to the latest official statistics, Indian Government's rice procurement during the 2007/08 marketing year crossed the 11 million MT mark but was still 3.35 % lower compared with the same period last year.

India had earlier banned the export of non Basmati rice variety in order to boost its domestic reserves. India's rice buffer stock on Dec 1 stood at 10.05 million MT.