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India's Rice Exports to Hit 18 Million Tonnes in 2024-25 Despite Restrictions: USDA Forecasts


Published Date: May 23, 2024
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Are you looking to export bulk rice? India, the largest rice exporter globally, faced significant challenges in 2023 due to new export restrictions. Despite these hurdles, projections from the United States Department of Agriculture (USDA) indicate that India is poised to export nearly 18 million tonnes of rice in the 2024-25 period.  This figure reflects a notable increase from the previous year's exports, showcasing the resilience and adaptability of India's rice export sector. Keep reading this informative article if you are a Rice Suppliers as it will provide you some valuable insights on recent developments on India's rice export market. 

Export Restrictions and Their Impact

In July and August 2023, India implemented additional restrictions on the export of non-basmati white rice. These measures included an outright ban on the export of regular-milled white rice and the imposition of tariffs and other limitations on various other rice types. These actions were intended to stabilise domestic rice prices and ensure sufficient supply for the local market. This critical decision as it directly impacted the Indian Rice Sellers

However, despite these restrictions, India remains a crucial player in the global rice market. In 2022, India accounted for more than 40% of global rice exports, surpassing the combined exports of the next four largest exporters: Thailand, Vietnam, Pakistan, and the United States.

USDA's Positive Outlook

The USDA's recent projections bring good news for Indian rice exporters. The USDA forecasts that India will export around 18 million tonnes of rice in 2024-25. This represents an increase of approximately 2 million tonnes compared to the previous year, demonstrating India's enduring capability to meet global rice demands and export bulk rice

While this projected export volume is lower than the record 22 million tonnes exported in 2021-22, it remains a significant contribution to the global rice trade. The USDA anticipates rising global supplies, trade, consumption, and ending stocks in 2024-25. Specifically, global rice production is expected to reach a record 527.6 million tonnes, driven by increases in India, China, Bangladesh, and Indonesia.

Global Trade and Consumption Trends

The global rice market is set to experience heightened activity in 2024-25. The USDA forecasts a global consumption of 526.4 million tonnes, driven by higher usage in countries like India, the Philippines, Indonesia, and Bangladesh. These increases in consumption are expected to offset a reduction in China's rice usage.

Despite the increase in global consumption and production, global rice trade is only forecast to rise slightly to 53.8 million tonnes. This figure is still below the levels of trade seen before India imposed its initial export restrictions in 2022. Nevertheless, India's projected export volume remains a substantial part of the global market.

Opportunities for Indian Rice Exporters

From a B2B perspective, Indian rice exporters still have significant opportunities despite the sanctions. The ongoing demand for rice in key markets presents a valuable avenue for business. Indian exporters can leverage their established reputation for quality and reliability to secure contracts and expand their market presence.

Additionally, the diversification of export markets can mitigate the impact of any single market's restrictions. By exploring new regions and strengthening relationships with existing partners, Indian rice exporters can ensure sustained business growth.


Conclusion

India's rice export sector has demonstrated remarkable resilience in the face of export restrictions. The USDA's optimistic projections for 2024-25 highlight India's potential to remain a dominant force in the global rice market. With strategic planning and market diversification, Indian rice exporters can continue to thrive, meeting global demand and export bulk rice globally.

If you want to export or import rice in bulk, Tradologie.com is the best B2B platform. It facialites the bulk transactions without any middlemen through its state-of-the-art SaaS platform. 

Visit www.tradologie.com to explore B2B export opportunities and stay updated with the latest trends in the industry. 

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