As its time for Khariff harvest , the output is likely to surge from the last years output due to pick up of monsoon in India.This may be possible that the rice export from the India may cure the global rice prices which has increased to 12% from the past three months.
The bumper output may increase the overseas sale by 2015 and also can buit the emergence government warehouses.
B.V. Krishna Rao, managing director of Pattabhi Agro Foods Pvt Ltd, a leading exporter. expressed his views saying that there was a situation when we need to concern for the rice output due to poor rainfall in the country till Junebut as the monsoon pick up in the mid July the scenario has changed and the crop is in good shape.
Upto June , the rainfall in India was 43% lower than the average of the past 50 year rainfall but after the monsoon showed speed that has declined to 11%.
Rajen Sundareshan, executive director of the All India Rice Export
ers Association. has said that the overall production will be good but they cannot tell about the exact quantity.
Farmers harvested a record 106.54 million tonnes of rice in the 2013/14 crop year, including an output of 91.69 million tonnes from the summer-sown crop.
Rajeev Setia, executive director of Chaman Lal Setia Exports Ltd. has said that the rice export prices has tempted the farmers to grow aromatic basmati rice, as it needs less water and is more sturdy on most of there areas.
India toppled Thailand two years ago to become the world’s top rice exporter as a government intervention scheme priced Thai rice out of the export market and as Delhi lifted a four-year ban on non-basmati rice sales in 2011 to trim stocks.
India’s rice exporter are seeking the government to persuade the China after a 3 day visit by Chinese President Xi Jinping this week.Rising demand for rice in China are forcing the China to import from asian countries like Vietnam, Thailand and Pakistan.
India had already signed a protocol with China for basmati rice export in 2006.