Indian rice exporters said, Extra rice stocks, enhanced methods of production, augmented demand from African and Middle East countries as well as reasonably low prices will help India to develop as world’s top rice exporter in 2015.
Reaping of the 2014-15 Kharif rice crop (June – December) has initiated in most of the states and it is yet to begin in Jharkhand, Chhattisgarh, Bihar and Tamil Nadu. Predictors are presuming India to export over 7 million tons of non-basmati rice and over 4 million tons of basmati rice in 2015.
The All India Rice Exporters Association (AIREA) President expressed local sources that they are imagining converted orders for basmati rice from Saudi Arabia and Europe in the next two months.
He noted that the export prices of Indian non-basmati rice are nearly $10-$15 lesser than those of Pakistan and Vietnam, totaling that this will upturn approval for Indian rice in the African markets.
Traders are assertive that prices of basmati would fall drastically foster boosting exports.
Analysts say they are predominantly assuming boosted demand for India’s non-basmati rice from Nigeria ahead of the 2015 elections. Mostly, Nigeria imports massive quantities of rice to disperse between domestic consumers as portion of election strategy.
According to the Food Corporation of India (FCI),India presently has over rice pillories in its central pool,.
India had about 21.65 million tons including a milled equivalent of about 6.65 million tons of paddy in its central pool as of September 1, 2014. The stocks were nearly twice the required buffer and planned reserve norms of around 11.8 million tons for this time of the year, according to the FCI.
Nevertheless, India’s 2014-15 rice productions are probable to be hurt due to slow start of monsoons in June –September this year. In that intellect, analysts and exporters are said to be too hopeful over India’s rice export performance in 2015.