India commands a mammoth 40% share of the global rice trade and the Asian nation is the 2nd largest producer and consumer of wheat in the world. As per government officials, the wheat and broken rice export restrictions are likely to continue and the free food grain scheme would get an additional annual subsidy of around Rs 14,000 crore, which would be less than 0.1 percent of the GDP.
India is the second-largest rice-producing country in the world. Rice is the major food crop that satisfies global hunger and the Asian nation holds the top spot when it comes to rice exports. Indian rice, especially long-grain fragrant basmati rice, has a great demand worldwide and riding on the back of high global demand, India commands a mammoth 40% share in the rice trade. Considering only the case of basmati rice, the exports of the long grain variety from India increased by 26% in the financial year 2022-23.
Presently, India commands 40% of the global rice trade. According to a top trader, India, which presently controls 40% of the world’s rice market, will have the final say in two years.
Bangladesh Rice Imports
Following criticism that it is paying more, Bangladesh is reluctant to sign contracts with Indian cooperative organizations NCCF (National Cooperative Consumers Federation of India Ltd) and Kendriya Bhandar to import two lakh tonnes of parboiled rice. Dhaka (Capital city) is taking it slow as it has been criticized for offering $35 per tonne more to the cooperative agencies than what the private vendors had offered in the 50,000 tonnes global tender. On 21st December’22, Bangladesh placed a letter of Intent (LOI) for the purchase of 1 lakh tonnes of parboiled rice each from both NCCF and Kendriya Bhandar at $433.60 and $433.50 a tonne. Additionally, the country floated 2 global tenders to procure 50,000 tonnes each in efforts to procure 3 lakh tonnes of parboiled rice for its public distribution system.
Located in Asia, India is the second largest rice producer in the world ranking behind China and the Asian nation occupies the top spot when it comes to rice exports. Different varieties of Indian rice enjoy great demand worldwide and more than 150 countries around the world depend upon India for their rice needs. Owing to strong demand and bumper harvest, India commands a mammoth 40% share in the global rice trade and hence any disruptions from Indian rice millers and exporters raise troubles for many in the global market.
Rice is the principal crop for Cambodian farmers and the staple accounts for around 75% of the arable land and 15% of the agricultural value added. And located in East Asia, China remained the largest buyer of Cambodia’s rice during the January-June period in 2022. As per the Ministry of Agriculture, Forestry, and Fisheries, Rice Exporters to China accounted for 51.4% of the country’s total exports of the commodity. India, Thailand, and Vietnam are major competitors of Cambodia in the global rice trade.
Located in Asia, India is the second largest rice producer in the world and the country occupies the top spot when it comes to rice exports. The Asian nation holds a mammoth 40% share in the global rice trade and Indian rice is one of the many agro-commodities that has a huge demand across the globe.
Basmati rice is a variety of long, slender-grained aromatic rice that is traditionally grown in India, Pakistan, and Nepal. In 2019, India accounted for 65% of the total basmati rice trade as many countries source basmati rice from India. The states which are favorable for basmati rice production in India are Punjab, Haryana, Himachal Pradesh, Delhi, Uttarakhand, Western Uttar Pradesh, and Jammu Kashmir.
Located in Asia, India is the largest rice exporter in the world and ranks second, behind Brazil when it comes to rice production. Favorable climatic conditions help the country produce ample quantities of rice every year and owing to this, the Asian nation exports rice to more than 150 countries around the world and plays a vital role in helping them meet their consumption needs.
Located in Asia, India is the largest rice exporter in the world and commands around 40% share in the global rice trade. With increased demand from overseas buyers, prices of Indian rice rose in the current week. The prices have also soared up due to the Government of India’s procurement of rice from domestic rice millers.
Located in South Asia, Bangladesh is struggling to meet its domestic needs for wheat flour. Wheat is the second most consumed cereal after rice in Bangladesh and the sky-high cost of the staple is raising fresh troubles for domestic consumers who are already having a tough time making ends meet.