India’s rice exports remain stable in 2024 despite restrictions. Government and industry officials said that there has been a record export of premium Basmati rice, due to which the shortfall in foreign sales of non-Basmati rice has been compensated. Continued exports from India, the world’s largest rice exporter, could help reduce global rice prices and help India reduce its stocks after excessive production.
A government official said, ‘After the restrictions were lifted, exports have increased in the December quarter and this has compensated for the decline in the first half of this year.’ The official requested not to be named as he is not authorized to speak to the media.
In September and October 2024, India lifted almost all restrictions, which were imposed in July and August 2023, on exports of non-Basmati and premium Basmati. The official said the country’s rice exports in 2024 stood at 178 lakh tonnes, slightly lower than 178.6 lakh tonnes a year ago.
Basmati rice exports are set to rise 16.3 percent to 5.7 million tonnes in 2024 as Saudi Arabia, Iraq and the United Arab Emirates increased purchases despite rising prices. He said that the export of non-Basmati rice has decreased by 6.9 percent to 121 lakh tonnes. Bangladesh, Cameroon, Djibouti and Zambia reduced purchases due to high prices.
After India, Thailand, Vietnam, Pakistan and America export the most rice. But even these four together are not able to export as much rice as India. “We were expecting a more than 20 per cent decline in rice exports in 2024, but the huge demand in the December quarter surprised us,” said a Kolkata-based rice exporter. “Overall, exports remained stable in 2024 and will grow further in 2025.”