Non-basmati rice exports from India increases 68% YoY in April-July period

Non-basmati rice exports from India increases 68% YoY in April-July period

Non-basmati rice exports from India increased 68% year-on-year in the April-July period, helped by a drop in rice production in Thailand. India exported 2.99 million tonnes of non-basmati rice in the first four months of this financial year, up from 1.78 million tonnes a year ago, earning foreign exchange equivalent to Rs 8,903 crore as compared to Rs 4,816 crore in the corresponding period of last fiscal.

However, traders were beset by non- availability of containers at the ports due to lower imports of products from China and the rising prices of containers.

BV Krishna, president of the Rice Exporters Association, said exports of non-basmati rice are expected to remain robust this fiscal. “We are expecting to achieve 7 million tonnes of non-basmati rice exports in FY21,” he said.

Suraj Agarwal, CEO of Kolkata-based Tirupati Agri Trade, said non-basmati rice exports would have gone up further if Bangladesh had opened its doors to Indian rice. “Bangladesh is supposed to bring down import duty on rice from 55% to 18% so that the country can import, since prices of its own rice has risen quite significantly. But the decision is yet to be taken,” said Agarwal.

Tap To Explore More : Carelyst

Also Read : SEBI Sets Similar Deadlines For Listing Securities On The Basis Of Personal Planning

About The Author