According to the International Grain Council (IGC), population growth is expected to lead to a modest increase in rice consumption worldwide, although a reversal in food consumption in China could reduce potential growth. Despite the COVID-19 uncertainty and rising container freight costs, the IGC predicts that growing African demand will boost trade. This article will tell you more about how Indian Basmati Rice Market remains competitive.
Global Rice Market Trends
The United States Department of Agriculture (USDA) estimates that global rice production will reach a record 506 million tons (milled base) in the current 2021/22 period. Global rice consumption and residual consumption will also be recorded in 2021/22 – experts estimate it at around 514 million tonnes. However, the world’s last stockpile is estimated at 167 million tonnes, down 7.9 million tonnes from the previous season.
According to USDA estimates, the global rice trade is projected to reach 47 million tonnes (milled base) in 2022, lower than previously estimated. Experts have lowered their trade forecasts in anticipation of lower Indian rice imports from Bangladesh in 2022. However, their forecast for Indian basmati rice exports in 2021 has increased by 1 million tonnes to a record 18 million tonnes. The main reason for this positive outlook is that Indian rice has remained the most competitive in terms of price.
Indian Rice Production Trends
In the 2020-21 crop year, India’s rice production is a record 121.46 million tonnes as against 118.87 million tonnes last year. The trend of rice production was positive in all the states except 6 states (Kerala, Mizoram, Pondicherry, Tamil Nadu, Sikkim, and Goa. West Bengal, Uttar Pradesh, and Punjab are the major rice-producing states. In the last five years (2014/15 to 2018/19), the average area was 43.9 million hectares, production was 109.76 million tonnes and production was 2499.96 kg/ha.
India’s Rice Production
India’s Rice Production is projected to reach 47 million tonnes in 2022. According to the Ministry of Agriculture, India produced 122.27 million tonnes of rice in the 2020-21 crop year, which is a record for the country. Basmati Rice accounts for 5% of the total rice production and non-basmati rice accounts for 95% of the total production. The production of basmati rice is expected to remain competitive in the global market. The basmati rice market is projected to reach a record 47 million tonnes in 2022.
Export of Indian Rice
India’s annual domestic consumption is approximately 100 million tons. 120 million tons production, which is 80%. The Government of India must have 11.5 million tonnes of rice as operational stock and 2 million tonnes of rice as strategic reserves.
Saudi Arabia, Iran, Iraq, Yemen, and the UAE are the major importers of basmati rice, while Benin, Nepal, Togo, Senegal, and Cote d’Ivoire are the major non-basmati rice importers. China has recently started importing non-basmati rice from India. Africa is an important market for Indian rice and exports continue to grow.
In the fiscal year 2020-2021 (April-March), India exported a record 13.03 million metric tons of non-basmati. The main reasons for the increase in exports are high demand from China, Vietnam, and Bangladesh.
Exports of basmati in 2020-21 were 4.631 million tonnes.
Quality of Indian Rice
Indian basmati rice is unique in the world for its aroma, taste, and flavor. The average length of Indian basmati rice is 8.5 mm, which is the longest in the world. Indian rice has a low glycemic index and is easy to digest.
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Buy Basmati Rice Through Tradologie.com
Basmati rice is the long grain rice that is grown in India and Pakistan. It has a delicate fragrance, which makes it very popular among people all over the world. This rice has a unique taste and flavor that goes well with almost every type of food. The best part about this rice is that it can be cooked both in hot as well as cold water. If you are looking for some good quality basmati rice then you must try Tradologie.com’s online digital trade platform because it offers high-quality basmati rice at affordable prices.
Tradologie.com is the world’s first online platform for buying and selling agri-commodities. It connects buyers and sellers directly under a single roof across the globe. You can buy basmati rice online easily through Tradologie.com.
Benefits of Buying Basmati Rice Through Tradologie.com
Basmati rice is one of the most popular and widely used varieties of rice in the world. It has a distinctive taste and aroma that makes it stand out from the rest.
The Basmati variety is grown in India and Pakistan. It is known for its long, slender grains that have a light, fluffy texture, which gives them their unique taste.
It can be boiled or steamed but it is mostly used to make rice dishes such as pilafs, biryanis, and kheer.
Here are some benefits of buying Basmati rice through Tradologie.com:
1) Variety of Basmati Rice: We offer you a variety of Basmati Rice that includes both organic and non-organic varieties. We also have different qualities available for you to choose from according to your requirements like how many bags you want to buy and whether they should be packed or loose. You also get free shipping on all orders above $50 with us!
2) Best Quality: Our rice is of the best quality because it is grown under good conditions without any pesticides or chemicals added during production which makes our rice healthier than other brands available in stores near you!
3) Low Prices: We work hard to keep our prices low so that everyone can enjoy our products without breaking their bank or wallets.
Conclusion
Having analyzed the above discussion, The current demand for both domestic and international markets is so high that it cannot be supplied by the regular supply of stock. This results in a huge rise in the prices which subsequently leads to fluctuation in the market, but with the attitude of different players ensuring growth this market will maintain its position in the global market.
