June 20, 2024

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Non-basmati rice emerges as top agri export produce in April-Dec

Non-basmati rice as a item category has overtaken basmati rice to emerge as the prime grosser in India’s agri-export basket in price terms with shipments exceeding $3 billion in the April-December interval of the present-day fiscal calendar year.

Basmati rice has been the prime grossing item amongst the Indian agri make exports for quite a few yrs.

For the initially 9 months of the present-day fiscal, the total exports of Agricultural and Processed Foodstuff Solutions Export Improvement Authority’s (APEDA) item portfolio grew by near to a fifth to $13.seventy four billion in the initially 9 months of the present-day fiscal compared to $11.fifty eight billion in the same interval very last calendar year.

Most current APEDA figures expose that basmati shipments in the course of April-December stood at 3.38 million tonnes (2.eighty four million tonnes in the same interval very last calendar year), valued at $2.947 billion ($2.936 billion). In rupee terms, basmati exports grew 5 for each cent at ₹22,038 crore (₹20,926 crore).

Exports of non-basmati rice registered a 112 for each cent expansion at $3.068 billion for April-December against $1.448 billion in the same interval very last calendar year. In rupee terms, non-basmati rice exports for the interval ended up ₹22,858 crore (₹10,268 crore) and, in volumes, the cereal shipments topped eight.21 million tonnes (3.fifty eight million tonnes).

Bullish outlook for rice

India has emerged as the largest supplier of rice in the modern previous as other origins are facing supply concerns. “We are bullish on the outlook and expect the non-basmati rice shipments to exceed 11 million tonnes for the present-day fiscal,” mentioned BV Krishna Rao, President of the Rice Exporters Association.

As wheat costs company up in the world-wide market, demand from customers is witnessed mounting for the Indian cereal. Wheat exports in the initially 9 months of the present-day fiscal rose by around four occasions in volumes to nine.76 lakh tonnes (1.70 lakh tonnes). In greenback price terms, the exports a lot more than quadrupled to $252 million ($forty eight million). Also, in rupee terms, the exports rose to ₹1,870 crore (₹336 crore). Other cereals, together with maize, have registered a sizeable expansion at $413 million ($149 million).

Other products and solutions under APEDA basket that registered expansion incorporate pulses, processed vegetables and groundnut. Pulses exports rose to 2.fifteen lakh tonnes (1.65 lakh tonnes) and registered a expansion of 27 for each cent at $205 million ($161 million). Processed vegetables grew 40 for each cent at $316 million ($226 million) and processed fruits and juices also registered eight for each cent expansion at $498 million ($461 million). Groundnut exports registered eight for each cent expansion at $526 million ($486 million).

On the other hand, big products and solutions that registered a damaging expansion in the course of the interval incorporate buffalo meat and guar gum. Buffalo meat exports ended up down 5 for each cent at $2.37 billion ($2.forty nine billion) on decrease volumes. Likewise, guar gum exports pretty much halved to $189 million ($367 million) in the course of the interval.