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Consumers queuing up at shops in the US for rice will find relief in knowing that around 12,000 metric tonnes of rice stocks are available in the US, and another 18,000 metric tonnes of rice is being transported from India
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These reserves are estimated to last for six months. Rice exporters are confident that the central government will soon take an appropriate decision, considering the needs of the Indian Diaspora
Indians in the US who have panicked following the scarcity of rice, need not worry about the availability of rice, as exporters have assured that there were sufficient rice stocks in the country, reported greatandhra.com.
Consumers queuing up at shops in the US for rice will find relief in knowing that around 12,000 metric tonnes of rice stocks are available in the US, and another 18,000 metric tonnes of rice is being transported from India. These reserves are estimated to last for six months. Rice exporters are confident that the central government will soon take an appropriate decision, considering the needs of the Indian Diaspora.
Traders reveal that on average, 6,000 metric tonnes of non-basmati rice is exported from India to the USA every month, with the Telugu States of Telangana and Andhra Pradesh contributing 4,000 metric tonnes. However, the recent ban on non-basmati white rice exports from India has led to rice stores in the USA being packed with NRI consumers. People are queuing at shops to purchase rice in large quantities due to fear of shortages, resulting in a more than doubled price for a 9.07 kg bag, going up to $40 (Rs 3,280) in some places.
Kiran Kumar Pola, Director of Deccan Grainz India, a leading rice exporter from Hyderabad, advises NRIs to exercise restraint and remain calm while purchasing rice, assuring that there are enough stocks available, and the shortage fears will not persist for long.
- Domestic rice prices have risen by 20-30 per cent in the last three months due to poor harvest in the 2023-24 Rabi season, deficit rainfall in eastern and southern India, and lower crop cultivation in the Kharif crop due to rains in the North
- Additionally, the increase in the minimum support price (MSP) of paddy by 7 per cent has contributed to the rise in prices. The central government aims to control prices by restricting exports and increasing domestic supply
Kiran Kumar has urged the central government to exempt Sona Masoori rice, a popular choice among Indians in the US, from the ban. He suggested creating separate classifications for non-basmati rice, considering the needs of Indians living overseas, and regulating rice varieties for better pricing, distribution, and export opportunities.
With the ban on non-basmati white rice exports, traders report that export orders for 20 lakh metric tonnes worth Rs 8,200 crore are at risk of immediate cancellation. India accounts for 40 per cent of global rice exports, and the ban affects the monthly export of 5 lakh metric tonnes of non-basmati rice to other countries.
Domestic rice prices have risen by 20-30 per cent in the last three months due to poor harvest in the 2023-24 Rabi season, deficit rainfall in eastern and southern India, and lower crop cultivation in the Kharif crop due to rains in the North. Additionally, the increase in the minimum support price (MSP) of paddy by 7 per cent has contributed to the rise in prices. The central government aims to control prices by restricting exports and increasing domestic supply.
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