homephotos Newsindia NewsHow India’s rice export ban could trigger a global crisis

How India’s rice export ban could trigger a global crisis

SUMMARY

India sells rice to over 140 countries, with Benin, Bangladesh, Angola and others buying non-basmati rice, and Iran, Iraq and Saudi Arabia buying basmati rice.

Profile image

By CNBCTV18.COMJul 24, 2023 3:50:36 PM IST (Published)

Listen to the Article(6 Minutes)
3 Min Read
CNBCTV18
Image count1 / 10

India bans non-basmati white rice exports: The government issued a notice on Thursday to stop the export of non-basmati white rice due to crop damage and production fears caused by delayed monsoon rains. (AP Image)

CNBCTV18
Image count2 / 10

India is the world’s top rice exporter: India shipped a record 22.2 million tons of rice in 2022, accounting for more than 40% of global rice exports of 55.4 million tons. (Reuters Image)

CNBCTV18
Image count3 / 10

India has a wide range of rice buyers: India sells rice to over 140 countries, with Benin, Bangladesh, Angola and others buying non-basmati rice, and Iran, Iraq and Saudi Arabia buying basmati rice. (AP Image)

CNBCTV18
Image count4 / 10

India exported mostly non-basmati rice in 2022: Out of the total 22.2 million tons of rice exports, 17.86 million tons were non-basmati rice, including 10.3 million tons of non-basmati white rice. India also imposed a 20% duty on some grades of rice in September 2022. (AP Image)

CNBCTV18
Image count5 / 10

India has no restrictions on basmati and parboiled rice exports: India exported 4.4 million tons of basmati rice and 7.4 million tons of parboiled rice in 2022 and has not put any limits on their exports. (AP Image)

CNBCTV18
Image count6 / 10

India grows paddy rice twice a year: The summer-sown crop, which starts in June and accounts for more than 80% of the total output, was 135.5 million tons in 2022/23. The winter-sown crop is mainly grown in central and southern states. (AP Image)

CNBCTV18
Image count7 / 10

West Bengal and Uttar Pradesh are key rice-producing states: These two states, along with Andhra Pradesh, Punjab, Odisha and Chattisgarh, are the main sources of rice in India. (AP Image)

CNBCTV18
Image count8 / 10

India raised the price for buying new-season paddy from farmers: To encourage more rice cultivation, India increased the minimum support price for common paddy by 7% to 2,183 rupees per 100 kg. (AP Image)

CNBCTV18
Image count9 / 10

India faced erratic monsoon rainfall distribution in 2023: The monsoon arrived late and caused a large rain deficit until mid-June. Heavy rains since then have erased the shortfall but damaged crops. (AP Image)

CNBCTV18
Image count10 / 10

India’s rice output and exports may fall in 2023: Industry officials expect a marginal drop in paddy area and production in 2023 due to adverse weather conditions. This could affect India’s rice exports and global supply. (AP Image)

Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
arrow down

Most Read

Share Market Live

View All
Top GainersTop Losers
CurrencyCommodities
CurrencyPriceChange%Change