From Financialexpress · Sandip Das · · 1m 20s
Rice exports may drop next year due to lower surplus
USDA forecasts 4% drop in India's rice exports to 24 million tonnes for 2027 as El Niño slashes production.
In brief
USDA forecasts 4% drop in India's rice exports to 24 million tonnes for 2027 as El Niño slashes production. India's rice exports are projected to fall 4% to 24 million tonnes in 2027 due to El Niño weather reducing production by 4.5%. Originally reported by Financialexpress.
USDA reports rice export drop
USDA forecasts a 4% drop in India's rice exports to 24 million tonnes for 2027 due to El Niño weather slashing production.
El Niño causes production decline
A strong El Niño weather pattern is expected to drop India's rice production by 4.5% to 147 million tonnes in the current crop year.
Paddy area shrinks by 3.7%
Area under paddy has declined by 3.7% to 42.92 million hectares in the current kharif season.
Domestic rice prices rise
Retail prices of rice increased to Rs 46.92/kg, a 10% increase over the previous year.
Government stock to curb prices
The government holds over 38 million tonnes of rice stock against a buffer requirement of 10.25 million tonnes for October 1.
Premium rice prices rise sharply
Prices of premium non-basmati rice variants increased by 10-25% compared to last year due to lower paddy area and rainfall deficiency.
What to remember
India's rice exports are projected to fall 4% to 24 million tonnes in 2027 due to El Niño weather reducing production by 4.5%.
