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Indian rice exports were off to a good start in the current financial year with volume of shipments increasing by about a tenth in the first two months to over 3.67 million tonnes (mt) compared with 3.36 mt in the same period a year ago on strong demand for basmati rice.
Basmati rice shipments during this period were up 21 per cent at 8.30 lakh tonnes (lt) against 6.85 lt a year ago. Similarly, non-basmati rice shipments, despite curbs on broken rice and export duty, were up by 6 per cent at 2.84 mt against 2.67 mt.
Basmati shipments to West Asia, the main market for the aromatic rice registered an increase of 13 per cent at 6.15 lt against 5.43 lt a year ago on higher demand from countries such as Iran, Iraq, Kuwait, Qatar and United Arab Emirates. However, shipments to countries such as Saudi Arabia and Yemen declined. Exports in dollar terms to West Asia were up 22 per cent at $665 million ($545 million in the year-ago period).
Gain in other geographies
To other geographies such as European Union and Asian countries, basmati shipments more than doubled during these two months. Shipment volumes to the European Union were up 154 per cent at 41,644 tonnes (16,407 tonnes) on demand from the Netherlands, Germany, Italy and Belgium. The basmati export value to the EU during April-May was up 196 per cent at $52.61 million ($17.74 million). In Asia, countries such as Bangladesh, Bhutan and Nepal among others stepped up the purchase of the aromatic rice with volumes rising to 15,339 tonnes (6,995 tonnes).
Similarly, in the case of non-basmati rice, shipments to Africa during April-May were up at 20.96 lt (15.49 lt), while exports to West Asia recorded a 24 per cent growth at 2.20 lt (1.77 lt). “There is a good demand. Despite certain restrictions, shipments are growing,” said B.V. Krishna Rao, President, The Rice Exporters Association. India has placed curbs on exports of 100 per cent broken rice and has levied a duty of 20 per cent on white and brown rice exports since September 8, 2022.
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