India set to clock document rice exports in present yr too

In comparison with the earlier yr, India’s complete rice exports, together with basmati, to China touched 3,31,989 tonne throughout 2020-21 in contrast with 747 tonne the earlier yr.

After exporting a document 17.71 million tonne of rice in 2020-21, a rise of 86% over the earlier yr’s 9.5 million tonne, India is ready for one more good season of exports in 2021-22 as nicely, regardless of excessive freight prices.
The demand for non-basmati rice elevated to a document excessive of 13 million tonne (valued at $4.796 billion) final yr as extra international locations bought the cereal amidst provide points in Asean area and the Covid pandemic to make sure meals provides. Equally, basmati rice exports had touched 4.63 million tonne, valued at $4 billion. Though exporters have expressed concern that there might be a slowdown in purchases on account of excessive freight prices from African patrons, India nonetheless stays probably the most aggressive when it comes to pricing as in comparison with the opposite international locations. B V Krishna Rao, president, Rice Exporters Affiliation (REA), stated that exports for the present season of 2021-22 have begun in a small approach.

“Because the freight prices are excessive, there’s a desire for shorter routes and commodities corresponding to metal or pulses. Not many wish to take lengthy path to Africa and get caught for longer intervals,” he identified. Freight prices throughout the globe have greater than doubled over the previous yr. African nations are among the many largest patrons of the Indian non-basmati rice. Africa as a market accounted for 54% of India’s $4.79 billion non-basmati rice shipments throughout 2020-21. African international locations imported rice valued at $2.59 billion throughout 2020-21 and Benin was the biggest importer valued at $443 million.

Based on Rao, rice costs in Vietnam and Pakistan, which have been dropping market share, have softened. “Nonetheless, India nonetheless stays the most affordable provider on the planet immediately. Rice costs in Vietnam and Pakistan value between $420 per tonne to $430 per tonne, whereas India nonetheless presents rice between $360 per tonne to $400 per tonne and subsequently patrons will maintain turning in the direction of India,” he stated.

China has additionally turned out to be one other main purchaser, Rao stated. China rice purchases from India, primarily the non-basmati sort, exceeded $100 million for the primary time. In comparison with the earlier yr, India’s complete rice exports, together with basmati, to China touched 3,31,989 tonne throughout 2020-21 in contrast with 747 tonne the earlier yr. In worth phrases, rice exports have been valued at $104.07 million in contrast with $0.45 million.

 

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https://www.financialexpress.com/economic system/india-set-to-clock-record-rice-exports-in-current-year-too/2280941/