The prices of any commodity, be it rice, wheat or sugar depends upon two variables, namely the demand and the supply. Hence, factors influencing the demand or supply of a commodity like market conditions, weather patterns etc.

Located in Asia, India is the leading rice exporter in the world. It commands a mammoth 40 per cent share in the global rice trade and different varieties of Indian rice enjoy strong global demand all year round.

India has registered a 41% jump in its exports of spices and spice products during the first two months of the 2023-24 fiscal year.