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Non-Basmati rice exports rise 34% during April-Jan period on Africa's import demand

17-Apr-2018
Non-Basmati rice exports rise 34% during April-Jan period on Africa's import demand

India’s non-basmati rice export jumped 34 per cent over a year before in the period between April 2017 (start of the earlier financial year) and January 2018.

The prime reason given is that Africa’s import demand shifted to here from Thailand, on cost competitiveness. Basmati export, however, remained stable.

Data from the Agricultural & Processed Food Products Export Development Authority (Apeda) showed non-basmati export at 7.01 million tonnes worth nearly $2.89 billion for these 10 months, compared to 5.25 mt valued at $1.97 billion in the same period a year before.

 “India has got a little extra share in world rice markets due to lower stock and shipment from Thailand. Non-basmati export from India would continue to surge for the next couple of months,” said A K Gupta, Director, Apeda.

“India and Thailand compete with each other in non-basmati export to African countries. Historically, orders shift to the former in case rice import in African Countries become uncompetitive from the latter. African countries share 80 per cent of India’s non-basmati export. The appreciating baht has clearly given advantages to India over Thailand for non-basmati export,” said V K Chaturvedi, Managing Director at Usher Agro, a rice exporter.

In contrast, India’s basmati rice export stayed at 3.27 mt in those 10 months, on lower sales to the European Union, which consumes nearly 300,000 tonnes annually.

“Basmati is a high value product. We are expecting a five per cent increase in its export for FY18,” said Gupta. The export in 2016-17 was 3.98 mt (valued at $3.22 bn), a marginal decline from 4.05 mt (worth $3.48 bn) the previous financial year.

Rajan Sundareshan, Executive Director, All India Rice Exporters’ Association, says he expects India’s basmati export to see another 0.6-0.65 mt in February and March, the final two months of financial year 2017-18.

Source:-Dailyshippingtimes.com

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