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Rice: Srilanka is return to the Global market for Imports

September 16, 2017 at 11:39 AM , Rainbow Exports
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Rice : Reasons Affecting the Rice Market

Sri Lanka's reduction in domestic rice supplies is its return to the global market

Sri Lanka which was a major importer of rice till the 1960s, and its rice demand was dependent on the supply of other countries. The 10 pieces of the world's total rice imports were purchased by Sri Lanka alone. But due to constant improvement in rice cultivation and increase in production every year, Sri Lanka became self-reliant in rice. But once again, due to the clash of Sri Lanka, after about 60 years, has gone into the international market to buy rice. Indeed, due to untimely floods in Sri Lanka and then the worst drought in 37 years has affected Sri Lanka's crop. At present, Sri Lanka requires 0.7million tonnes of rice.

Although India, Burma, Vietnam, Thailand have supplied food content to Sri Lanka according to their agreements. But there is a shortage of food items in Sri Lanka. Food storage in the year 2015-16 in Sri Lanka's storage, which Sri Lanka has not yet opened for supply. The Sri Lankan government is keeping it in control for prices. At the same time Sri Lankan businessmen are not willing to sell their goods in the market, they are awaiting price boom.

Other international reasons affecting the rice market:

At present, the international market of rice appears to be hot, it has immense potential for Indian businessmen. For example: 

  1. Bangladesh has increased its import target from 100,000 tonnes to 0.8 million tonnes.
  2. Nigeria's import target has increased from 1 million tonnes to 2.2 million tonnes.
  3. Philippines has reduced the import target. The import of Filipinos is expected to decrease from 200,000 tonnes to 160,000 tonnes.
  4. Sri Lanka's import target reached 0.7 million tonnes.
  5. China's rice has steadily increased from 1 million tonnes to 0.9 million tons due to export to African countries.
  6. India's total rice exports (Basmati and non-basmati) is expected to be 11.0 million tonnes.
  7. India is also supplying Bangladesh and Sri Lanka
  8. Exports of Vietnam are expected to increase by 200,000 tonnes reached to 6 million tonnes.
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