{"id":13697,"date":"2024-01-17T12:50:15","date_gmt":"2024-01-17T12:50:15","guid":{"rendered":"https:\/\/ricenewstoday.com\/?p=13697"},"modified":"2024-01-17T12:51:03","modified_gmt":"2024-01-17T12:51:03","slug":"rice-may-surge-further-globally-on-indian-export-curbs-supply-shortage","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/rice-may-surge-further-globally-on-indian-export-curbs-supply-shortage\/","title":{"rendered":"Rice may surge further globally on Indian export curbs, supply shortage\u00a0"},"content":{"rendered":"\n<p>India\u2019s restrictions on shipments have resulted in 2 million tonnes shortfall; carryover stocks may drop by 5 million tonnes.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/IMG_bl22_rice_bag_2_1_3BBGUG9N-1024x576.webp\" alt=\"\" class=\"wp-image-13698\" srcset=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/IMG_bl22_rice_bag_2_1_3BBGUG9N-1024x576.webp 1024w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/IMG_bl22_rice_bag_2_1_3BBGUG9N-600x338.webp 600w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/IMG_bl22_rice_bag_2_1_3BBGUG9N-300x169.webp 300w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/IMG_bl22_rice_bag_2_1_3BBGUG9N-768x432.webp 768w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/IMG_bl22_rice_bag_2_1_3BBGUG9N.webp 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Despite the curbs, India will emerge as the top exporter of rice in 2023-24\u00a0<\/p>\n\n\n\n<p>India\u2019s curbs on\u00a0rice\u00a0exports, including the ban on broken and white rice, have led to a two million tonnes (mt) supply shortfall in the global market. With global carryover stocks projected to drop by 5-8 mt, prices of the\u00a0cereal\u00a0will likely be volatile, say experts and analysts.\u00a0\u201cIndia\u2019s withdrawal of supply of rice (through ban on white rice) since August 25 is 4.67 mt. Other rice exporting nations chipped with an additional supply of 2 mt in the market, leaving a demand-supply gap of 2 mt,\u201d said S Chandrasekaran, a\u00a0Delhi-based trade analyst.\u00a0<\/p>\n\n\n\n<p>Despite the curbs, India will emerge as the top exporter of rice in 2023-24 (August 2023-July 2024), said the International Grains Council.&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Still the No. 1<\/h5>\n\n\n\n<p>\u201cWorld trade is projected to contract by 2 per cent in 2024, mostly on weaker buying interest from Asian importers, most notably\u00a0Indonesia. India will remain by far the biggest exporter despite another sizable fall in shipments,\u201d the Council said.<\/p>\n\n\n\n<p>The US Department of Agriculture (USDA) said India\u2019s\u00a0export\u00a0restrictions have affected the region in different ways, largely dependent upon the type of rice shipped. \u201cOf India\u2019s 2022 rice exports to Sub-Saharan Africa, approximately half consisted of parboiled rice (primarily shipped to West Africa). Parboiled rice remains eligible for export with a 20per cent tariff. The other half of India\u2019s exports to Sub-Saharan Africa, white rice and broken rice, have seen a rapid decline since the 2023 export ban,\u201d it said.\u00a0<\/p>\n\n\n\n<p>Chandrasekaran said shipments from\u00a0Thailand\u00a0increased by 0.26 mt, from\u00a0Vietnam\u00a0by 1.03 mt, from\u00a0Pakistan\u00a0by 0.8 mt, from the\u00a0US\u00a0by 0.4 mt and from\u00a0Brazil\u00a0by 0.5 mt.\u00a0<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Pakistan makes headway<\/h5>\n\n\n\n<p>\u201cPakistan has increased its exports sharply making up for what it lost in 2021 and 2022,\u201d said VR Vidya Sagar, Director, Bulk Logix.&nbsp;<\/p>\n\n\n\n<p>In the 2023-24 season, Pakistan had exported 2.6 mt of rice against 1.52 mt in 2022-23, while its foreign exchange earnings nearly doubled to $1.64 billion from $840 million during the period.\u00a0<\/p>\n\n\n\n<p>Globally, rice stocks are dwindling with inventories in Thailand declining by 4 mt. \u201cGlobal ending stocks are down by 8 mt,\u201d said Chandrasekaran, adding that rice stocks in North Africa dropped to 0.6 mt from 1.2 mt in 2020-21.&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">20% price rise since July<\/h5>\n\n\n\n<p>Sagar said that as a result of a decline in stocks, buyers are looking for other varieties of rice such as the brown variety, which is allowed at 20 per cent export duty.&nbsp;<\/p>\n\n\n\n<p>Per Thailand Rice Exporters\u2019 Association data, rice prices have increased by over 20 per cent since India banned white rice exports in July 2023.&nbsp;<\/p>\n\n\n\n<p>Chandrasekaran said dwindling stocks in non-rice producing region and mismatch of supply will expand \u201ccontinuously\u201d. \u201cThe Middle-East and North Africa will witness increased volatility,\u201d he said.<\/p>\n\n\n\n<p>The USDA said, \u201cWith global rice prices at 15-year highs, consumers may instead opt for alternative domestic food options such as roots, tubers, and domestic\u00a0grains, rather than securing new rice suppliers or increasing domestic rice production.\u201d\u00a0\u00a0<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Why curbs<\/h5>\n\n\n\n<p>The IGC said that on the basis of reduced yield expectations in Asia\u2019s dominant growers, outweighing gains elsewhere, global rice output in 2023-24 is predicted to contract by 1 per cent year-on-year. \u201cAs a consequence, the Council anticipates a softening of demand, while stocks are set to tighten, including in key exporters,\u201d it said.&nbsp;&nbsp;<\/p>\n\n\n\n<p>India curbed exports to cool rising foodgrain prices and ensure domestic food security after its rice paddy crop was affected by deficient rainfall in eastern regions in 2022 and the impact of\u00a0El Nino\u00a0in southern India in 2023.\u00a0<\/p>\n\n\n\n<p>Kharif\u00a0rice production during the current crop year to June has been estimated 3.8 per cent lower at 106.31 mt against 110.51 mt last season. Though rice production in 2022-23 was projected at a record high of 135.76 mt, experts say the non-availability of rice varieties consumed by the cereal-eating population has resulted in domestic prices surging.<\/p>\n\n\n\n<p>Though the Centre has taken measures to tame food\u00a0inflation, rice prices have not shown signs of easing in view of shortage of key varieties such as Sona Masuri and Ponni.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s restrictions on shipments have resulted in 2 million tonnes shortfall; carryover stocks may drop by 5 million tonnes. Despite the curbs, India will emerge as the top exporter of rice in 2023-24\u00a0 India\u2019s curbs on\u00a0rice\u00a0exports, including the ban on broken and white rice, have led to a two million tonnes (mt) supply shortfall in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13698,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[393,340,221,46,167,160,159],"class_list":["post-13697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-rice-prices","tag-pakistans-rice","tag-food-inflation","tag-asian-rice","tag-indian-rice","tag-rice-export","tag-global-rice-news"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rice may surge further globally on Indian export curbs, supply shortage\u00a0 - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rice may surge further globally on Indian export curbs, supply shortage\u00a0 - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"India\u2019s restrictions on shipments have resulted in 2 million tonnes shortfall; carryover stocks may drop by 5 million tonnes. Despite the curbs, India will emerge as the top exporter of rice in 2023-24\u00a0 India\u2019s curbs on\u00a0rice\u00a0exports, including the ban on broken and white rice, have led to a two million tonnes (mt) supply shortfall in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ricenewstoday.com\/dev\/rice-may-surge-further-globally-on-indian-export-curbs-supply-shortage\/\" \/>\n<meta property=\"og:site_name\" content=\"Rice News Today\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-17T12:50:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-17T12:51:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/IMG_bl22_rice_bag_2_1_3BBGUG9N.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Developer Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Developer Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/rice-may-surge-further-globally-on-indian-export-curbs-supply-shortage\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/rice-may-surge-further-globally-on-indian-export-curbs-supply-shortage\/\"},\"author\":{\"name\":\"Developer Team\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#\/schema\/person\/5bab6fa4a598696885d5615daac778dd\"},\"headline\":\"Rice may surge further globally on Indian export curbs, supply shortage\u00a0\",\"datePublished\":\"2024-01-17T12:50:15+00:00\",\"dateModified\":\"2024-01-17T12:51:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/rice-may-surge-further-globally-on-indian-export-curbs-supply-shortage\/\"},\"wordCount\":698,\"publisher\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#organization\"},\"image\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/rice-may-surge-further-globally-on-indian-export-curbs-supply-shortage\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/IMG_bl22_rice_bag_2_1_3BBGUG9N.webp\",\"keywords\":[\"Rice prices\",\"Pakistan\u2019s rice\",\"food inflation\",\"Asian Rice\",\"indian rice\",\"Rice Export\",\"Global Rice News\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/rice-may-surge-further-globally-on-indian-export-curbs-supply-shortage\/\",\"url\":\"https:\/\/ricenewstoday.com\/dev\/rice-may-surge-further-globally-on-indian-export-curbs-supply-shortage\/\",\"name\":\"Rice may surge further globally on Indian export curbs, supply shortage\u00a0 - 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