Government Is Closely Observing The Rice Situation In Both Domestic And International Markets On A Weekly Basis

1. Government Is Closely Observing The Rice Situation In Both Domestic And International Markets On A Weekly Basis According to information provided to Parliament on Wednesday, the Government is keeping a close eye on the rice situation both domestically and internationally on a weekly basis. Should favorable conditions present themselves, it may decide to increase its percentage share in the global rice trade. Tradologie.com, designed in India, for the world, is a user friendly SaaS based global trade hub and your streamlined solution for procurement and sales of B2B commodities such as rice. On the platform, connect with verified global bulk rice buyers or bulk rice sellers, bypass middlemen for higher profits, and secure the best bulk prices for your business, effortlessly. Simplify your rice sales or procurement with Tradologie.com. Indian Rice Exports India restricted broken and non-basmati white rice exports due to rice production uncertainty domestically and in other rice producing countries given the geopolitical scenario, El Nino phenomenon, and extreme climatic conditions to check domestic prices and ensure adequate availability in the market here. “The govt. closely monitors the rice scenario in the domestic market as well as in international forums on a weekly basis, and the govt. can increase the % share in global rice trade when favorable conditions arise,” Anupriya Patel, Minister of State for Commerce and Industry, wrote to the Lok Sabha.

2. From 2018 to 2022, India was the world's largest rice exporter, followed by Thailand and Vietnam. India accounted for 40.63% of global rice exports in 2022 with 22.24 million tonnes of rice exported. Broken rice exports are banned starting in September 2022, and non-basmati white rice exports are banned starting in July of this year. Both parboiled non-basmati and basmati rice are still being exported. Impacts of Rice Policy In response to another query, Patel stated that between April and September of 2023, exports of agricultural products fell 11.6% from the same period the previous year. She mentioned, “Aside from the decline in international prices, which has impacted per unit value realizations, export restrictions imposed on essential food products such as wheat, non-basmati rice, sugar, and onions to ensure domestic food security have also contributed to the current year's decline in agricultural export value.” In addition, in response to a question about free trade agreements (FTAs), she stated that India has signed 13 trade treaties with its trading partners. India is negotiating FTAs with the United Kingdom, the European Union, Peru, Iceland, Norway, Liechtenstein, and Switzerland (EFTA countries), Sri Lanka, and Oman, she added. If you are a rice importer wishing to import rice in bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie.com facilitates bulk agro-commodity sales and procurement across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities in bulk at negotiable rates. The transaction oriented platform has 700,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 100 countries. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.