India’s rice exports defy restrictions, hold steady in 2024
India’s rice exports in 2024 remained stable, despite earlier export restrictions. A surge in premium basmati rice exports helped offset a decline in non-basmati rice sales. The relaxation of export curbs in September and October contributed to the recovery, with 17.8 million metric tons shipped, slightly lower than 2023 levels. This steady flow aims to ease global rice prices and reduce India’s surplus stockpiles.
India’s rice exports held steady in 2024 despite New Delhi’s export curbs, as record high premium basmati rice shipments offset a decline in overseas sales of non-basmati rice, government and industry officials told Reuters. Budget with ET
A steady flow of rice from the world’s biggest exporter should help bring down global rice prices and assist New Delhi in reducing stockpiles that have surged to a record high due to a bumper crop. “Exports bounced back in the December quarter after exports restrictions were lifted and made up for the shortfall in the first half of the year,” said a government official, who asked not to be named as he was not authorised to speak to the media.
In September and October 2024 India removed almost all of the curbs it had imposed on exports of non-basmati and premier basmati rice in July and August 2023. The country’s rice exports in 2024 stood at 17.8 million metric tons, marginally down from 17.86 million tons shipped a year earlier, the official said.
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Source : The Economic Times
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