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Rice Exports Assumed to be Low in FY22

Rice exports from India are reduced in FY22 compared to FY21 due to excessive freight rates and global market supply. Non-basmati rice will be below 10 per cent in FY22, while basmati exports can be decreased by 25 per cent. India exported 17.7 million tonnes of rice, which was high by 86 per cent than FY20.

There was nearly a 4 per cent improvement in basmati exports to 4.45 million tonnes and a 160 per cent increase in non-basmati to 13.09 million tonnes in FY21, according to Agricultural and Processed Meals Merchandise Export Growth Authority (APEDA).

“High freight charges have reduced the tempo of rice exports. Freight price has moved as much as $120 -$130 per tonne. Moreover, the availability of rice has grown worldwide, which can have an impact on Indian rice exports,” said B V Krishna Rao, president, Rice Exporters Affiliation.

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