The industry forecasts exports are set to grow 16% in 2025-26, boosted by surplus domestic production and a drive to push into 26 underserved global markets with strong potential.
International media also reports on the warning from Canadian intelligence agencies about the possibility of India & China meddling in the country's elections.
Global rice prices soared to their highest level in over 15 years following India's decision last year to ban the export of white rice and impose a 20% duty on parboiled rice exports.
Rice stocks at the Food Corporation of India on 1 September stood at 32.3 million metric tons, 38.6% higher than last year, encouraging the government to consider export relaxation.
With Red Sea, critical to enter and exit Suez Canal, under attack by Yemen’s Houthi rebels, exporters are having to pay more than double to send goods to Middle East, Europe & US.
India, which accounts for 40% of world rice exports, sells the staple to more than 150 countries, including a few poor and vulnerable countries in Africa and Asia.
The ban will cut availability of rice on world markets by about a fifth, and could lead to importers seeking more govt-to-govt deals to overcome shortages and tame spiraling prices.
India has strategic interest in Nepal and Bangladesh so it is possible that export of white non-basmati rice to these countries will be allowed on diplomatic considerations.
Even as rice prices have risen 11% year-on-year in July, the government has taken several steps in last few months to cool inflation in the key food grain.
Industry says manufacturers have 2-4 weeks of buffer stocks, but prolonged disruption could push up shortage risks, especially of consumables like IV and syringes.
French newspaper La Tribune earlier last week indicated that UAE withdrew from deal to fund EUR 3.5 billion. India is looking to order 114 new Rafales, which could include the F5.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
It’s great how much rice we can generate but the reality is that we are still producing less than we can. Most farmers don’t adapt to new techniques for various reasons.
Some do. Some farmers actually switch to cash crops depending on the local demand. I have seen farmers growing avocados in this country which is great and very smart. Hopefully everyone thinks about how they can make more money and not depend on government subsidies.
It’s great how much rice we can generate but the reality is that we are still producing less than we can. Most farmers don’t adapt to new techniques for various reasons.
Some do. Some farmers actually switch to cash crops depending on the local demand. I have seen farmers growing avocados in this country which is great and very smart. Hopefully everyone thinks about how they can make more money and not depend on government subsidies.