India is the second-largest producer of rice after China and also the largest exporter of rice in the world. Production of rice in the country increased from 53.6 million tons in FY 1980 to 120 million tons in FY2020-21. India has exported rice valued at nearly 653 billion Indian rupees in the fiscal year 2021. This figure is significantly higher than the previous year’s export which had amounted to over 454 billion Indian rupees.
Intermittent rains during October 2021 have caused severe damage to paddy fields in several parts of India and production is expected to decline by up to 20 percent. As a direct impact, the price of Basmati has already increased by as much as Rs. 2000 per quintal.
Gulfood Dubai Expo 2022 is taking place at Dubai World Trade Centre, Dubai, the United Arab Emirates on 13 – 17 February 2022. This is the world’s largest Annual Food & Hospitality Show and is creating a lot of buzz in the industry. All manufacturers of branded and packaged food products are booking their dates and planning to make the most of this significant event. This is an occasion where the latest innovations, trends, and tastes will be showcased and no one can afford to miss out on the same. This renowned food exhibition will be attended by over 5000 exhibitors participating from 120 countries.
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The pandemic hit the global exporters and India is not an outliner. As per the reports, the pacing rate of recovering is faster in China as compared to India. There are various reasons for the same:
- India’s consequent restrictions on trade lead to a delay in turnaround time for ships.
- Exporters in India have to pay high freight charges due to a shortage of containers.
- Freight charges to the Middle East double over a period of time.
- Europe freight charges rise to $8,000per container from $2000 per container.
- While a reasonable appreciation can be justified to fuel price hike, this massive increase witnessed in India allude to a sinister plot of artificial shortage creation and cartelization by shipping lines.
- 15-20 days delay in getting space, vessel, and slot hampers the trading sector.
- The unclogging of goods at the global level is unpredictable.
- China has a high processing time that’s one big reason China’s suppliers are luring the large ships with higher freight charges.
The global disaster of Covid-19 hits exporters at a crucial time when they are striving to reap advantages of the resurgence in international demand for commodities. Moreover, the nation’s $400 billion export goal for FY 2022 is also threatened.
A spice is a bark, root, flavoring agent, seed, fruit, and other plant products that enhance the aroma and taste of the food. India is often called ‘The Land of Spices.’ The history of spices dates back to the Indus Valley civilization 4000 years ago. Spices were among the few grounds for outsiders to conquer India. Most spices in India are used in powder or seed form. Some popular spice yields in India are Turmeric, Cardamom, White Pepper, Black Pepper, Clove, and Cumin. Spices from India are still in high demand in the international market. Punjab, Kerala, Gujarat, and some north-eastern states of India are the most popular for the cultivation of spices. Top Importers of spices are the USA, Hong Kong, Vietnam, China, UK, Bangladesh, Thailand, Malaysia, Sri-Lanka, and UAE. In the fiscal year 2019, the export values of spice sum up to 231 million Rupees. The annual turnover of spice in India increases by 40,000 crores. The expansion of the spice business is a 7% gain in volume, 8% gain in currency.
The method of agricultural production that includes a high level of biodiversity with Environmental preservation practices coupled with animal welfare is called Organic Farming. Organic products (Pulses) are always in demand due to sustainable development and fertilizer-free products.