India’s non-Basmati rice exports surge 30% in 11 months to Feb 2018

India’s non-basmati rice exports during April-February jumped 30 per cent from a year earlier to 7.7 million tonnes as Bangladesh, Benin and Sri Lanka increased their purchases, the Agricultural and Processed Food Products Export Development Authority (APEDA) said.

In terms of value, non-basmati Rice exports rose 42.5 per cent to $3,194 million from $2,241 million a year earlier.

The country exported 3.6 million tonnes of basmati Rice during April-February of 2017-18 financial year, up slightly from 3.59 million tonnes a year earlier. Revenue from exports, however, rose 29.3 per cent from a year earlier to $3688 million during the period, APEDA data showed.

Rice production in India is expected to climb to a record 111.01 million tonnes this crop year, 1.2% higher than last year’s output.

Non-basmati rice shipments, after reaching a record 8.274 million tonnes in 2014-15, had dropped in the subsequent year to around 6.464 million tonnes. However, over the past couple of years, the Indian shipments have staged a rebound.

As reported earlier, rice stocks with the Food Corporation of India stood at 19.893 million tonnes as on February 1 this year against 17.028 million tonnes in the corresponding period last year. Similarly, the un-milled paddy stocks in the central pool stood at 21 million tonnes as on February 1 this year as against 18.3 million tonnes last year.

Shekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He can be reached at shekhar.ghosh@indoasiancommodities.in.

Share

Leave a Reply

Your email address will not be published. Required fields are marked *