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India’s rice exports to surge on global crunch.
Jul 14, 2022

The decline in rice crop yields in Thailand and Vietnam and their increased costs of production may turn out to be bonanza for India’s rice exports in the current fiscal year, trade sources said. India is exporting rice at around $360 a tonne to key markets at present while Thailand and Vietnam are offering the grain at around $ 420 a tonne. The gap, according to the sources, is expected to widen in the coming months. Besides, prospects of a reasonably strong kharif crop could enable Indian exporters to fetch higher realisations. Even in volume terms, India’s rice exports in the current year could match or slightly exceed last year’s record level of 21 million tonne, according to V Krishna Rao, president, All India Rice Exporters Association.
 
The prospects of another record in rice shipments come at a time when the country has imposed strict curbs on export of wheat due to depleting domestic stocks.
 
According to the United States Department of Agriculture (USDA) rice outlook report released in June, the global rice trade in 2022 calendar year are projected at a record 54.3 mt. 'India’s exports are projected to a record 22 mt and account for almost 41% of global shipments,' said the report. The USDA also stated that India’s projected rice exports are likely to exceed the combined shipments of the next three-largest exporters—Thailand, Vietnam, and Pakistan this year.
 
Trade sources said major rice producers such as Vietnam, China and Thailand have been raising the issue of high production and freight costs which would make their rice much costlier than what India offers. Exports in value terms this year could be $10-12 billion, an all-time high.
 
India has been the world’s largest rice exporter in the last decade — export earnings stood at $ 8.8 billion in 2020-21 and $9.6 billion in 2021-22.
 
According to commerce ministry data, India’s value of rice exports rose by 12% to $ 2.6 billion in the first quarter of the current fiscal.
 
'We will sustain the momentum in rice exports in the current fiscal through shipment of quality rice,' M Angamuthu, Chairman, Agricultural and Processed Food Products Export Development Authority (APEDA) said.
 
 
    
financialexpress.com

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  • Agricultural and Processed Food Products Export Development Authority (APEDA)
    (Ministry of Commerce & Industry, Govt. of India)

  • NCUI Building 3, Siri Institutional Area, August Kranti Marg, New Delhi - 110 016
    Phone : 91-11-41486013, 20863919, 20867008, 20867007