Asia and the Pacific region both eat rice as a staple food. The Asia-Pacific region produces and consumes more than 90% of the world’s rice. The majority of the cultivated land in Cambodia is used for growing rice, which contributes 15% to the country’s agricultural value added.
Leading rice exporters saw rates for the staple grain rise this week as a result of rising orders. Also, Bangladesh increased the price it will pay farmers for the crop they will harvest in the coming season in an effort to maintain stability in domestic prices.
Rice Traders Of Vietnam Asked To Keep A Close Watch On Rice Market As Indonesia Aims To Import 2 Million Tonnes Of Rice This Year
Located on the eastern edge of mainland Southeast Asia, Vietnam is one of the top three leading rice exporters of the world. It exports rice to more than 150 countries and territories globally and shares 15 per cent of the global rice trade. China, the Philippines and Indonesia are some of the major export destination in Asia for Vietnamese rice and any policies, moves and market developments in these major markets partly affect Vietnamese rice export.
Vietnam’s Turnover From Rice Exports Soared In March To Reach $480 Million, An Increase Of 82.6% In Comparison To Last Month
Located in Southeast Asia, Vietnam is the third largest rice exporter in the world. More than 150 countries and territories across the globe depend upon Vietnamese rice for meeting their domestic consumption needs and the Asian nation commands a 15 per cent share in the global rice trade.
India is the world’s largest rice exporter and commands 40% of the global rice trade.
Egypt’s Rice Imports
Considering its difficulties making payments in dollars, Egypt is looking to import at least 1.5 lakh tonnes (lt) of rice from India via the rupee (INR) trade route, according to trade sources.
India exports broken rice to more than 76 nations, China is the biggest consumer of broken rice, and African nations need it for human consumption. China purchases broken rice for animal feed. Due to the fact that shipments of this variety of rice were outlawed on September 8, 2022, the Government of India (GOI) has granted special permission for the export of 3.5 lakh tonnes (lt) of broken rice to Senegal and Gambia.
India commands the global rice markets with a 40% share in the global rice trade. The country is followed by Thailand and Vietnam in terms of rice exports.
The price for rice exports from India witnessed losses in the current week due to a sluggish demand. Rice buyers and rice importers anticipated a further fall in prices and postponed purchases while rice traders in Vietnam hoped for their competitive pricing and growing supplies to lure more orders from big buyers.
The largest country by area in Mainland Southeast Asia is the Republic of the Union of Myanmar (also referred to as Burma until 1989). Laos and Thailand border it to the east and southeast, China to the northeast, Bangladesh and India to the northwest, the Andaman Sea to the south, and the Bay of Bengal to the southwest.
Indian Rice Exporters Unlikely To Seek Export Duty Rollback Amid High Demand Of Indian Rice In Global Markets
World’s largest rice exporter, India, commands about 40% of the global rice trade and is followed by Vietnam and Thailand in terms of rice exports.
India’s Rice Production
Despite kharif output being lower, India will likely benefit from a record-high crop this season through June. In comparison to last year’s 130.5 million metric tonnes (MMT), the Ministry of Agriculture estimates that 130.83 MMT of rice will be produced this year.
Rice Exporters Of Chhattisgarh Demanding Continuation Of 5% Tax Exemption Of Mandi Fee Which Is Set To Expire In 60 Days
Located in Asia, India is the second largest rice producing nation after China and the country ranks first in terms of rice exports. With a mammoth share of 40% of the global rice trade, India exports rice to more than 150 countries around the world, and from Dubai to China, different countries depend upon different varieties of rice for different needs.