India’s rice exports dip 27% in FY24 to 16.35 mt on shipment curbs
India’s rice exports in FY23-24 experienced a significant downturn, with a 27% decrease in volume and a 6.5% dip in dollar value. The decline was primarily driven by reduced shipments of non-basmati rice. Government-imposed export restrictions aimed to bolster domestic supplies and curb escalating foodgrains prices. These measures reflect a strategic effort to balance international trade demands with domestic food security priorities amidst fluctuating market dynamics.
India’s rice exports during the financial 2023-24 saw a 27 per cent decline in volume and 6.5 per cent dip in dollar value, largely on fall in shipments of non-basmati rice. The Government curbed exports of non-basmati rice during the year to ensure higher domestic supplies and contain rising foodgrains price.
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