Rice exports rise

27-Dec-2024 11:34 AM

Rice exports rise
India's agricultural and processed food product exports have risen by 8% to $14.01 billion during the April-November period of the current fiscal year, compared to the same period last year. This growth is largely attributed to the government's decision to lift most restrictions on rice exports.
In particular, rice exports have seen a significant increase of 13%, reaching $7.31 billion in the first eight months of this year, up from $6.44 billion in 2023. The government lifted restrictions on basmati and non-basmati rice exports in September, removing the minimum export price and export duty.
Exporters are optimistic, with projections suggesting that rice exports may grow by another 10% during this fiscal year due to rising global demand.
In FY24, India exported rice worth $10.41 billion, which was a 6.5% decrease from the previous fiscal year.
According to data from APEDA, rice exports for the period April to October are as follows:
Basmati rice: 26.08 lakh tonnes in 2023-24, compared to 32.43 lakh tonnes in 2024-25.
Non-basmati rice: 73.17 lakh tonnes in 2023-24, compared to 57.68 lakh tonnes in 2024-25.