India has exported 41.8 lakh tonnes of non basmati rice since September last when the government decided to lift the ban on its exports. The depreciating rupee has made the exports more competitive and helped increase shipments of the grain.
Last year, the government allowed exports of non basmati rice on account of its record production and comfortable stock position in the country. This was the first time in four years that the shipments of the grain were allowed. The present exports too are not expected to impact the domestic supply as the country is in a comfortable stock position. The prices of the grain too have remained stable over the past one year.
India is estimated to have a record production of 103.41 million tonnes of rice in the 2011-12 crop year against 95.98 million tonnes in the previous year. As on April 1 this year, the government had 19.95 million tonnes (MT) of wheat and 33.35 MT of rice in its godowns. It had a storage capacity of 63.8 MT as against the central stock of 53.3 MT. India also exports about 2 MT of basmati rice every year.
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