High prices are the prime reason for the decline in rice exports from Pakistan this year, the others being hoarding and a negative perception of the government, according to the Rice Exporters Association of Pakistan (REAP).
In Brazil, average retail and wholesale prices of paddy rice have shot up sharply in the last few months, due to a sharp decline in rice production and strong export demand this year.
Vietnam Food Association (VFA) has raised its 2017 rice export target to around 5.6 million tons from 5.2 million tons, reports Bloomberg citing the government website.