Rice Production Estimate & Non-Basmati Rice Exports will increase
June 2, 2017 at 8:50 AM ,
Rainbow Exports
IGC estimates 110 million tons rice production in India during 2017-18 & Indian Non-Basmati Rice Exports Increase, specially neighboring countries like Bangladesh and Sri lanka.
International Grain Council has released the estimate of the production of rice in India during the next season beginning October 2017-18. In the latest report of the IGC, it has been said that during the year 2017-18, with the record production of rice in India, a new record of exports can also be made. According to IGC, rice production in India can be 11 million tons during 2017-18, before the agency had estimated production of 10.9 million tones in India during 2017-18, during the 2016-17 season, 10.85 million tons production has happened.
IGC has released estimates of a new record of rice exports from India during 2017-18, according to the report, export of India can be 108 million tons during 2017-18 and 104 million tons export during the current season 2016-17 has been estimated.
Bangladesh and Srilanka large buyers will increase the demand for non-basmati rice from India.
Bangladesh already has less production due to floods and the government has given a statement about the promotion of rice imports.Sri Lanka floods caused by heavy rain in the week may also cause huge damage to life, property and crops There is a possibility of the crop being damaged there even .
Both countries purchase large quantities of non-basmati rice from India every year. During the year 2014-15, Bangladesh emerged as the largest buyer of non-basmati rice. Bangladesh imported about 12.68 lakh tons of non-basmati rice from India in year 2014-15. However, after Bangladesh decreased the purchase and during 2015-16, the imports of non-basmati rice from India were reduced to just 0.294 million tons, the purchase of Bangladesh from India in the fiscal year 2016-17 ended in March, there will be only 80,000 tons exports has been took place for the non-basmati rice. But now the prices of rice in Bangladesh are increasing rapidly and for the control of prices, the government is trying to boost imports as well as to issue the tenders. Recently, Bangladesh has also released tender for import of 50,000 tons of rice.
Sri Lanka also imports a large quantity of non-basmati rice from India. Sri Lanka has imported more than 0.15million tons of non-basmati rice from India in the financial year ending March, and expressed such a possibility India has been exporting to Sri Lanka this year.
There is also news from the local market that prices will jump again for the Rice all over the world. Now Iran market has also opened for non-basmati rice as well as other rice and easy foreign exchange convertibility. Iran Government has issued tenders also recently.
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