![]() ![]() 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.Īccording 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. ![]() 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.īilateral trade in rupee to gather pace soon “India’s exports are projected to a record 22 mt and account for almost 41% of global shipments,” said the report. 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.Īccording 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. 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. Besides, prospects of a reasonably strong kharif crop could enable Indian exporters to fetch higher realisations. The gap, according to the sources, is expected to widen in the coming months. ![]() 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 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. ![]()
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