USDA estimates rice exports from India to increase to 215 lakh tonnes
India’s rice exports are set to increase significantly, with the USDA projecting a rise from 144.30 to 215 lakh tonnes in the 2024-25 season. This surge is supported by a forecasted production increase from 1378.30 to 1450 lakh tonnes, competitive pricing, and strong global demand. India’s rice stocks are also expected to grow, reaching 420 lakh tonnes, ensuring a surplus after meeting domestic and export needs. With rising consumption, India remains well-positioned as a leading player in the global rice market.
iGrain India – India is on track for a significant rise in rice exports, with the US Department of Agriculture (USDA) forecasting exports to reach 215 lakh tonnes in the 2024-25 marketing season, up from 144.30 lakh tonnes in the previous season. This would represent a growth of over 70 lakh tonnes, driven by strong domestic production and a competitive price advantage in the global market.
Several factors are contributing to this optimistic outlook:Domestic Production: India’s rice production is expected to increase from 1378.30 lakh tonnes in 2023-24 to 1450 lakh tonnes in 2024-25, a boost of approximately 71.7 lakh tonnes. This additional production will help meet both rising domestic consumption and the growing export demand.Export Demand: India is the world’s largest rice exporter, and its rice, both Basmati and non-Basmati varieties, remains in high demand in key markets. The competitiveness of Indian rice in terms of pricing, combined with the end of export restrictions and controls, has made Indian rice an attractive option for global buyers.Stock Surplus: The country’s rice stock is projected to increase significantly. The USDA estimates the outstanding stock will grow from 350 lakh tonnes in 2023-24 to 420 lakh tonnes in the 2024-25 season. After meeting domestic consumption and export requirements, India is expected to have a surplus of 44.5 million tonnes by the end of the season, a slight increase from the 42 million tonnes in the previous year.Domestic Consumption: While India’s rice consumption is projected to rise from 1164 lakh tonnes to 1210 lakh tonnes in 2024-25, the increase in exports will still leave India with a significant surplus, reinforcing the country’s status as a global rice powerhouse.
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