Cote d’Ivoire’s rice import from China hit record in 3 months as India tightens restrictions
COTE D’ IVOIRE – According to customs data compiled by Bloomberg, China shipped 90,000 tons to Cote d’Ivoire between August and October, marking a new record.
This volume far exceeds the 63,500 tonnes recorded for the whole of 2022 and marks a new record in grass shipments from the world’s second-largest economy to the Eburnean nation.
Côte d’Ivoire consumes on average 2.5 million tonnes of milled rice per year, almost 60% of which comes from the international market.
Restrictions on rice exports from India have been in force for more than a year. Faced with this policy, several countries which depend on Indian cereals, particularly in Africa, are banking on diversifying their sources of supply.
According to Indian government data, Ivory Coast is the fourth largest buyer of non-basmati rice from India in 2022-2023.
For Cote d’Ivoire, the strength of imports from one year to the next comes in a context where its main supplier, India, has applied bans on sales of non-basmati white rice since last July.
This category of rice is the first purchased by the Eburnean nation from the Asian country with 700,000 tonnes in 2022, making it the 4th global destination behind Bangladesh, Benin, and Guinea.
In addition, Ivory Coast is the 3rd African country that imports the most rice from India behind Benin and Senegal with a total of nearly 1.2 million tonnes in 2022, according to statistics from the Trade Map platform.
However, despite being a major contributor to the international rice market, India’s Prime Minister Narendra Modi’s government aims to control domestic price surges, particularly as he faces an impending reelection.
Lower prices and substantial stockpiles have positioned India as a key player in global rice exports, accounting for almost 40% of the total in recent years, with African nations such as Benin and Senegal being among the top buyers with Cote d’Ivoire following closely.
However, Modi’s administration has consistently tightened export restrictions to curb domestic price rises and protect Indian consumers.
While India’s policy may benefit its own consumers, it poses challenges for vulnerable populations in Africa and Asia, where billions depend on a consistent global rice supply.
Rice inflation in the Philippines reached a 14-year high in September, and Indonesia is increasing rice imports to cool prices before its 2024 presidential election.
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