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Rice exports to set new file this yr

Chennai: Regardless of the pandemic demand waning out, rice exports rose a formidable 10.5 per cent between April and October over the file exports in FY21. A brand new file in rice exports is predicted this yr.

In worth phrases, rice exports grew 10.5 per cent, growing from $4,777.35 million in April-October 2020 to $5,278.95 million in April-October 2021. Between April and October, rice exports have virtually touched 60 per cent of final yr’s exports in worth.

 

Rice exports fetched $8.8 billion in FY21. Of this, non-basmati rice revenues greater than doubled to $4.8 billion. Nevertheless, basmati rice noticed a drop of seven per cent to $4 billion.

Even in quantity phrases, rice exports had virtually doubled to an all-time excessive of 17.7 million tonnes final fiscal, in opposition to 9.5 mt a yr in the past.  Within the pandemic yr, a number of international locations have been stocking up meals objects previous to going into lockdown. Shortage and export restrictions in a few of the exporting international locations noticed demand for Indian rice going up. Additional, Indian rice is changing into standard within the international marketplace for its lower cost and higher high quality.

 

Even after the pandemic, the demand for Indian rice is excessive. In quantity phrases, the nation has already exported 8.3 mt of rice between April and September, up 11.44 per cent over 7.5 mt a yr in the past.

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