“The flooded area in the north will see some yield losses,” said a Singapore-based trader at a Chinese grain-trading company. “We will have a clear picture on the extent of damage after floodwaters recede.”two weeks ago, could see further crop damage with tropical storm Khanun.
Initial estimates show four million to five million tonnes of corn, or about 2 per cent of the country’s output, have been affected by the floods, two trade sources said. Rice prices have already climbed more than 20 per cent since India announced its ban on exports of non-basmati white rice.
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