The outbreak of Coronavirus in China has continued to slow down the Agri-commodity market from the last few weeks. The lower demand from the Chinese market has made a complex situation in the global market growth.
IR 64 Rice has high-yield-variety and also cost-effective in the international market.
Development of IR 64 Rice by IRRI
- The International Rice Research Institute had developed IR 8 rice in the global market. The rice had also very high-grain yield but also several defects were found. Mostly, the quality of the grain was poor, unable to diseases and pests resistance capacity, and also late maturation of the plant.
- In early 1980, the research institute again developed a variety which was resistance to pests and diseases and it achieved its high yield in just of only 111 days. The variety is very popular in the market as IR 36 which has provided better quality as compared with IR 8. The new variety was so popular that it was spread rapidly and estimated to be planted on 10 million hectares during 1980.
- The much-improved variety of IR 36 over IR 8 was still lacked the quality of the best varieties in the competitive market. Then, in the year 1985, the best variety was released in the market of the Philippines which was known as IR 64 Rice.
- IR 64 replaced almost all the varieties of IR 36 and spread rapidly in the new areas of different countries due to its best qualities.
Popular Qualities of the Rice
The qualities with improved varieties of IR 64 Rice were found in the market are as follows:
Diabetes is a serious, long-term condition with a major impact on the lives and well-being of individuals, families, and societies worldwide. It is among the top 10 causes of death in adults and was estimated to have caused four million deaths globally in 2018.
The rice research institute from India has invented a new variety of rice to the Indian market. The rice is known as “Muktoshri” or IET 21845. The special characteristic of rice is that it has cultivated in the arsenic prone area. The rice has a property that it is totally arsenic-resistance rice. The rice has a long and thin grain with aromatic nature.
The rising demand from the African countries have boosted the Indian Rice market growth at the highest level in the current month of February’2020 while Thailand and Vietnam’s rice market struggle with the new Coronavirus outbreak.
Rice contributes over two percent of the overall exports from India. The particular industrial sector had declared a CAGR of 14 percent (compounded annual growth rate) between the Financial Year 2010 and 2019. Presently, it has been observed that a sharp decline in the rice market price in the current Financial Year. Detailed analysis of the market growth trends are given below:
The increasing demand from the buyers of Africa has increased India’s rice export prices in the world market. The market demand for rice production has increased due to drought in Thailand. Thailand squeezes the supply of rice. Therefore, the Indian market will be anticipated to grow a further jump rate in the coming months.
Basmati Rice is the world-famous longest rice, cultivated only in India and Pakistan. The rice is a hot favorite around the world for the famous rice delicacies, especially for Biriyani. The top ten Basmati Rice brands in India are discussed below:
Current Situation of Basmati Rice Trading Market
The rising hostilities between Iran and the USA dampen the Basmati Rice Trading in Islamic countries like Saudi Arabia, Iran, Iraq, Kuwait, and Yemen.
In the current financial year, the rising tension between Iran and the USA slows down the export growth of rice in the global market. During the financial year 2018 to 2019, Basmati exports growth worth 32,806 Crores. But it seems to be difficult to reach the figure of the current fiscal year because of the halted rice import from Iran.
Basmati Rice is the world-famous longest rice, cultivated only in India and Pakistan. The rice is a hot favorite around the world for the famous rice delicacies, especially for Biriyani. The top ten Basmati Rice brands in India are discussed below:
