15-India’s White Rice Export Ban Might Not Last Long Exporters

1. India’s White Rice Export Ban Might Not Last Long: Exporters India’s White Rice Export Ban Might Not Last Long: Exporters According to a vast majority of exporters, the export ban on non-basmati white rice may not last for very long because concerns over the standing crop's have eased. Mr. Anil Kumar Mittal, Chairman and Managing Director of KRBL, one of the major rice exporters in India, stated on Tuesday that the Government of India may soon lift the ban on the export of white rice because the monsoon rains have been adequate thus far and the kharif paddy sowing has exceeded last year's level. India’s Rice Export Policy India’s Rice Export Policy In an effort to control cereal inflation, which has remained in double digits since October of last year, India, the world's largest exporter of rice since 2012, banned the export of non-basmati white rice on 20th July. In April–June (2023–24), the food ministry reported that approximately 1.5 MT of white rice had been exported, an increase of about 35%. In an effort to increase domestic supplies, India banned the export of broken rice in September of last year and imposed a 20% export tariff on non-basmati and non-parboiled rice. However, India exported a record 22.34 MT of rice to over 140 different countries in FY23. In its July 2023 crop outlook report, the United States Department of Agriculture (USDA) noted that India "remains the lowest priced Asian exporter and expected to again be the largest exporter, shipping a record 23 MT in 2023-24."

2. Retail inflation in the price of rice was 10.21% in October 2022 and increased to 11.78% in June 2023. Despite the crop year 2022–2023's 135.5 MT record for rice production (July–June), it has remained elevated. Deci Decisions Post Export Policy Change sions Post Export Policy Change He pointed out that international organizations like the Food and Agriculture Organization (FAO) and the International Monetary Fund have urged India to lift export restrictions on white rice which have sharply increased rice prices worldwide. According to Mr. V Krishna Rao, president of the Rice Exporters Association (TREA), a group of non- basmati exporters, the government would realistically assess the supply situation by December and consider lifting the ban on the shipment of white rice after paddy procurement got underway. He claimed that competitors of India, such as Vietnam and Thailand, had raised their grain prices as a result of the ban on rice exports. Pricing And Production Of Rice Pricing And Production Of Rice According to Mr. Mittal, domestic rice prices have risen by 15% in the last four months. However, with increased acreage, prices are predicted to decline by September and October as kharif harvesting gets underway. 28.3 million hectares of rice have been planted as of August 4—a 3.4% increase from the previous year. The Food Corporation of India had rice stocks of 37.64 million tonne (MT) as of August 1; this figure includes 13.01 MT of grain that millers are expected to deliver, which is significantly more than the buffer norm of 10.25 MT for October 1. If you are a rice importer wishing to buy rice in bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie is a SAAS platform that facilitates bulk agro-trade across the globe. Through Tradologie’s interface, buyers can avail the best qualities of agro-commodities at negotiable rates. The transaction oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.