12/2/2023 0 Comments Highest exporter of rice in world![]() But the situation this year is different. Last year, the imposition of the 20 per cent duty, along with a complete ban on broken variety kicked in from the middle of the financial year and this enabled us to maintain the export momentum. “This year, exports of rice will be much lower. ![]() We are not as vulnerable as we used to be in the past to El Nino type shocks,” Sanjeev Sanyal, Member Economic Advisory Council to the Prime Minister, told India Narrative earlier in an interview. There is no problem with the buffer stock. But, more importantly, we have adequate food stock. Contingency plans are also being chalked up. The Centre is keeping a close watch on the climatic conditions to ensure that the impact of the agriculture sector is minimal. However, this is a tad lower than 4.6 MT exported in FY 21. Exports of Basmati rice increased too from 3.98 MT in 2021-22 to 4.5 MT in FY 23. In 2021-22 the total exports of non Basmati rice stood at 17.2 MT. Last year, the Centre banned exports of broken rice while imposing a 20 per cent duty on non Basmati rice to contain inflation and ease supplies of food grains.ĭespite that, the outbound shipment of non Basmati grain stood at 17.78 MT - the highest ever. ![]() India is the world’s largest exporter of rice, accounting for more than 40 per cent of the global trade. Amid intense uncertainty in the geopolitical situation, India’s rice exports could have implications on global food security. After total exports of rice touched 22.28 million tonnes (MT) in 2022-23, the outbound shipment this year may drop. India’s ban on food grain exports will not be lifted anytime soon amid rising concerns over an El Nino situation. ![]() India's rice exports recorded a growth during 2022-23 despite several restrictions ![]()
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