India's Growing Rice Exports

13-Jan-2025 08:43 AM

India's Growing Rice Exports
From 2021 to 2023, India contributed 40% of global rice exports.
A significant increase in rice production has been observed.
Basmati rice exports reached 5.24 million tons in the 2023-24 fiscal year, up from 3.94 million tons in 2021-22.
Non-basmati rice exports also saw substantial growth.
A large stock of rice is available in the central pool.
According to FCI, the central pool stock on January 1 stood at 29.09 million tons, exceeding the stocking norm of 7.6 million tons by 282%.
This stock is 10.91 million tons more than in January 2024 and 16.56 million tons more than January 2023.
Unmilled paddy stock reached 47.63 million tons, higher than December 2024 by 12.5 million tons but 2.33 million tons lower than January 2024.
Ample rice availability has led the government to permit its use for ethanol production.
Rice exports and ethanol production are expected to cause a slight rise in prices in the future.