Skip to main content

MoneyWorks4Me

India’s rice exports likely to rise by 8.5% to 11 MT in 2014

18 Oct 2014 Evaluate

Export of rice from India is likely to rise to 11 million tonnes (MT) this year on expectation of higher shipments of basmati rice. This is a rise of 8.5% compared to total shipments of 10.14 MT in 2013-14 marketing year (October-September) period. The basmati contribution this year is expected to be around 4-4.5 MT.

The overall sale of rice in the international market is expected to improve despite expected lower domestic production of rice in view of poor rains. The contribution of basmati rice will continue to grow by 5-6% this year.

The lower than normal rainfall under El-Nino impact may reduce rice production to 97 MT in 2014-15 from 106.29 MT last year. The Hudhud-cyclonic storm has destroyed the paddy field in major rice grown area in Andhra Pradesh, Odisha, West Bengal and Chhattisgarh. The harvesting of kharif (summer) rice is currently underway and harvesting of basmati paddy variety 1509 is picking up in states of Punjab and Haryana.