Indian Economy News

India's Non-basmati rice exports grow by 109% since 2013-14 to USD 6115 million

India's non-basmati rice exports increased by 109% from US$ 2,925 million in FY 2013-14 to US$ 6,115 million in FY 2021-22. According to DGCIS data, India exported rice to over 150 nations in FY22. Exports of non-basmati rice were the leading forex earner among all agri-commodities in FY22. Benin, a West African country, is a major importer of Indian non-basmati rice.

According to the Second Advance Estimates for FY22, overall rice output will reach a new high of 127.93 million tonnes and overall food grain production in the country is expected to reach a new high of 316.06 million tonnes.

In the last few years, India's focus on building port handling facilities, developing a value chain including key stakeholders, and exploring new opportunities in nations or markets for rice exports has resulted in a massive increase in rice exports. India continues to increase its rice export footprint in Africa, Asia, and the European Union, resulting in India having the greatest share of global rice commerce. India's rice exports grew as a result of strong worldwide demand.

India is the world's second-largest rice producer. The record exports will allow rice producers to reduce their stockpiles, which will help farmers since rising demand for Indian rice is expected to boost their profits. The huge increase in agri-exports is also considered as evidence of the government's intention to enhance agricultural and processed food exports in order to increase farmer’s income.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.