In 2022–23, India’s rice exports have reached a record $11 billion, up 16% from FY22. However, at 21 million tonnes (MT), the shipment volume stayed roughly the same as it did in the previous FY.
The Agriculture Ministry estimates a record rice output of 130.83 MT in the 2022–23 crop year, allaying concerns about a loss in production. Bangladesh, China, Benin, Nepal, and Iran are the top five countries for rice exports in terms of volume.
Rice Exports From India
Since 2012, India has been the largest Rice Exporter in the world. India currently exports more rice than the next three largest exporters combined—Thailand, Vietnam, and Pakistan. India exported more than 21 MT of rice worth $9.6 billion in FY22, accounting for about 45% of global rice trade.
The increase in rice exports is attributed by officials to a number of factors, including strong global demand, particularly from West Asian nations, Africa, and Europe, and floods that severely damaged Pakistan’s paddy crop, a major exporter of grains.
Even though India banned the export of broken rice last year and imposed a 20% export tax on white rice, there has been an increase in the realization of rice exports.
India exports 4.5–5 MT of basmati rice each year and controls 80% of the world market for aromatic rice. In FY23, India shipped $11.14 billion worth of rice, including $6.14 billion of non-basmati rice and $5 billion of basmati rice, according to preliminary estimates. Volume-wise, the nation has
exported 16.1 MT of non-basmati rice and 4.9 MT of aromatic, long-grain basmati rice.
Rice Demand From India
K Kaul, a Senior Executive Director from the All India Rice Sellers Association mentioned, “Demand for rice has been strong due to resumption of shipments to Iran, and a spike in demand in Gulf countries especially from Saudi Arabia, Iran, UAE and others for the ongoing Ramadan months.”
In its April 2023 crop outlook, The United States Department of Agriculture (USDA), has stated, “India’s prices are the most competitive among global suppliers and its total supply of rice is near-record high.” The price quotes for 5% broken-kernel rice from India were reported at $434 this month and have essentially remained the same since late January, according to the article.
Angamuthu, the Chairman of the Agricultural and Processed Food Products Development Authority stated, “Competitive pricing has ensured a surge in rice exports in the last fiscal and adherence to quality parameters has resulted in a significant demand for Indian rice with the grain being shipped to more than 75 countries.”
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