Indian Rice Exports Zoom By 43 Per Cent In January-October 2020; Likely To End 2020 With Record 14 Million Tonnes Of Exports

In a positive for the nation's agri-economy, the rice exports out of India have risen remarkably between January to October in 2020, jumping by 43 per cent year-on-year, reports Economic Times.

As per the data compiled by the Union Ministry of Commerce and Industry, the total rice exports surged from 8.34 million tonnes in the same period last year to 11.95 million tonnes this year.

Delving deeper into the figure, one witnesses that the export of non-basmati rice has witnessed a strong 61 per cent surge from the year earlier, jumping to 7.6 million tonnes. Meanwhile, the basmati rice exports out of India have also surged by 20 per cent during the aforementioned period, jumping to 4.36 million tonnes.

As per the estimates by Rice Exporters Association, it is expected that the rice exports for the full year 2020 may record a rise of nearly 42 per cent to a record high of 14 million tonnes.

It should be noted that India mainly exports non-basmati rice to nations like Bangladesh, Nepal, Benin and Senegal, and premium basmati rice to nations like Iran, Saudi Arabia and Iraq. The higher rice exports have helped bring down the nation's bulging inventories.