Non-basmati rice emerges as top agri export produce in April-Dec

Non-basmati rice as a merchandise class has overtaken basmati rice to emerge as the top grosser in India’s agri-export basket in worth phrases with shipments exceeding $3 billion in the April-December period of the recent fiscal 12 months.

Basmati rice has been the top grossing merchandise among the Indian agri deliver exports for lots of many years.

For the 1st 9 months of the recent fiscal, the overall exports of Agricultural and Processed Food Solutions Export Development Authority’s (APEDA) merchandise portfolio grew by near to a fifth to $13.74 billion in the 1st 9 months of the recent fiscal in comparison to $11.58 billion in the very same period final 12 months.

Latest APEDA figures reveal that basmati shipments all through April-December stood at 3.38 million tonnes (2.eighty four million tonnes in the very same period final 12 months), valued at $2.947 billion ($2.936 billion). In rupee phrases, basmati exports grew five per cent at ₹22,038 crore (₹20,926 crore).

Exports of non-basmati rice registered a 112 per cent growth at $3.068 billion for April-December against $1.448 billion in the very same period final 12 months. In rupee phrases, non-basmati rice exports for the period had been ₹22,858 crore (₹10,268 crore) and, in volumes, the cereal shipments topped 8.21 million tonnes (3.58 million tonnes).

Bullish outlook for rice

India has emerged as the major provider of rice in the the latest past as other origins are struggling with provide concerns. “We are bullish on the outlook and assume the non-basmati rice shipments to exceed 11 million tonnes for the recent fiscal,” explained BV Krishna Rao, President of the Rice Exporters Affiliation.

As wheat rates business up in the worldwide current market, need is seen increasing for the Indian cereal. Wheat exports in the 1st 9 months of the recent fiscal rose by about 4 times in volumes to nine.seventy six lakh tonnes (1.70 lakh tonnes). In greenback worth phrases, the exports far more than quadrupled to $252 million ($48 million). Also, in rupee phrases, the exports rose to ₹1,870 crore (₹336 crore). Other cereals, which include maize, have registered a important growth at $413 million ($149 million).

Other merchandise under APEDA basket that registered growth consist of pulses, processed vegetables and groundnut. Pulses exports rose to 2.fifteen lakh tonnes (1.65 lakh tonnes) and registered a growth of 27 per cent at $205 million ($161 million). Processed vegetables grew 40 per cent at $316 million ($226 million) and processed fruits and juices also registered 8 per cent growth at $498 million ($461 million). Groundnut exports registered 8 per cent growth at $526 million ($486 million).

Nevertheless, main merchandise that registered a unfavorable growth all through the period consist of buffalo meat and guar gum. Buffalo meat exports had been down five per cent at $2.37 billion ($2.forty nine billion) on lessen volumes. Equally, guar gum exports almost halved to $189 million ($367 million) all through the period.