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India’s rice production could decline to 128.5 MT.
Aug 18, 2022

India’s rice exports are projected to increase to a record 22 MT in 2022-23 and account for 40% of global shipments despite a possible dip in domestic production during the period, the United States Department of Agriculture (USDA) has stated.

While stating that India has large supplies of exportable rice and very competitive prices, USDA has projected that country’s projected exports exceed the combined shipments of the next three-largest exporters — Thailand, Vietnam, and Pakistan.

India’s rice production in the 2022-23 crop year could decline to 128.5 million tonne (MT) mainly because of deficiency in monsoon rains especially in the eastern regions, United States Department of Agriculture (USDA) has stated.

'Uneven distribution of the 2022 southwest monsoon that reduced rice planting across the eastern states of the Indo-Gangetic plains and Peninsular India,' according to the rice outlook for August released by USDA on Tuesday.

Reduction in the rice production forecast is based on 1 million hectare reduction in harvested area to 46 MH.

It stated that ‘this is the first decline in India’s rice production since 2015- 16’. USDA has projected India’s domestic rice consumption at 108.4 MT for 2022-23.

India’s rice production rose to a record 130.29 MT in 2021-22 crop year (July-June), an increase of close to 5% compared to previous crop year.

Out of 21 MT of rice shipment in 2021-22, India exported more than 17 MT of non-basmati rice and the rest of the volume was aromatic and long grain Basmati rice. In terms of volume, Bangladesh, China, Benin and Nepal are five major export destinations of rice.

financialexpress.com

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