Rice stocks surged after the Indian government lifted the export ban on 100 percent broken rice on March 7. This was due to a sharp rise in inventories, which had reached nearly nine times the target by early February.
India had initially banned 100 percent broken rice exports in September 2022 and later restricted other rice varieties in 2023 due to poor rainfall. However, export restrictions on all rice grades were eventually lifted, except for 100 percent broken rice.
This latest move aims to ease surplus stocks, provide affordable grain to Africa, and support Asian feed and ethanol industries. The Rice Exporters’ Association expects 2 million tonnes of exports in 2025, compared to 3.9 million tonnes in 2022, which were mainly sent to China and Africa.
Listed below are the rice stocks that had the most impact after the government lifted the export ban
Chaman Lal Setia Exports Ltd
With a market capitalization of Rs 1,500 crore, Chaman Lal Setia Exports Ltd went up nearly 6 percent in Monday’s trading session and made an intraday high of Rs 317.90 per share compared to its previous closing price of
Rs 298.60 per share. The shares retraced from the day’s high and were trading at Rs 302.45, 1 percent up from the previous close.
Incorporated in 1994, Chaman Lal Setia Exports Ltd is one of the oldest Rice Millers cum Exporters of Basmati rice. The company exports to over 80 countries which includes Europe, Middle East, America, Asia and other global markets. The company’s manufacturing facilities span across India.
GRM Overseas Ltd
With a market capitalization of Rs 1,556.70 crore, GRM Overseas Ltd went up nearly 5 percent in Monday’s trading session and made an intraday high of
Rs 261.65 per share compared to its previous closing price of Rs 249.65 per share. The shares retraced from the day’s high and were trading at Rs 259.45, 4 percent up from the previous close.
GRM Overseas Ltd is primarily in the business of milling, processing and marketing of branded /nonbranded basmati rice in the domestic and overseas market. The company exports its diverse products to over 38 countries across the world.
LT Foods Ltd
With a market capitalization of Rs 12,225.04 crore, LT Foods Ltd went up 3 percent in Monday’s trading session and made an intraday high of Rs 362 per share compared to its previous closing price of Rs 350.20 per share. The shares retraced from the day’s high and were trading at Rs 352.35, which is a slight increase compared to the previous close.
LT Foods Limited focuses on rice and rice-based foods. It operates in 65 countries, with flagship brands like Daawat and Royal under its Basmati segment. The company also sells organic staples through Ecolife and supplies organic agricultural ingredients globally.
KRBL Ltd
With a market capitalization of Rs 6,220.08 crore, KRBL Ltd went up nearly 3 percent in Monday’s trading session and made an intraday high of Rs 278.20 per share compared to its previous closing price of Rs 271.30 per share. The shares retraced from the day’s high and were trading at Rs 272.40, which is a slight increase compared to the previous close.
KRBL Limited specializes in basmati production, managing the entire value chain, from seed development to branding and marketing. It deals in rice, seeds, bran oil, and renewable energy from wind, husk, and solar power. KRBL exports to Saudi Arabia, Iran, and Iraq, with brands like India Gate, Lotus, and Telephone.
Written by Shwetha Sairam
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