India's rice exports rise sharply in current year

Mumbai, Ta. 24 November 2020, Tuesday

Despite the Corona epidemic, India's rice exports have increased by 20 per cent in terms of volume. During the April-September period of the current financial year, the country's rice exports have increased to 3 lakh tonnes. Demand for non-basmati rice from West Africa and South-East Asia has remained high, while rice exports have increased, according to government data.

In dollar terms, exports grew by 3 per cent to ૪ 3.08 billion, while in rupee terms, exports rose by 3 per cent to Rs 30,608 crore. India is reaping the benefits of lower production in Thailand.

Exporters are claiming that if the movement of goods had been easier, rice exports could have been even higher. In the current financial year, rice exports are expected to be more than 50 per cent and 12 million tonnes.

Considering the increase in exports in the first six months of the current financial year, the export figure for non-basmati in the full financial year 2021 is likely to cross 10 million tonnes, which may be a record, said sources in the Rice Exporters Association. Earlier, the highest export of non-basmati rice was 3 lakh tonnes in 2016-17. In the six months to September of the current financial year, non-basmati exports stood at 20.50 lakh tonnes as against 30.50 lakh tonnes in the previous full financial year.

The low rice production in Thailand and the government's food security policy due to corona have given India an opportunity to increase its rice exports, the sources said.

Thailand is India's only competitor in the world rice trade. China also increased rice exports from India last month.