Active Stocks
Tue Nov 28 2023 15:55:00
  1. Tata Steel share price
  2. 126.85 0.75%
  1. Tata Motors share price
  2. 697.6 3.56%
  1. Power Grid Corporation Of India share price
  2. 210.15 -0.19%
  1. ICICI Bank share price
  2. 926.05 -0.33%
  1. State Bank Of India share price
  2. 564.55 0.76%
Business News/ News / India/  Singapore may get more rice from India
Back Back

Singapore may get more rice from India

Another 50,000 tonnes of non-basmati white rice to Singapore may be allowed under humanitarian operations—an exception for one of India’s key diplomatic partners.


NEW DELHI : India may allow exports of another 50,000 tonnes of non-basmati white rice to Singapore under humanitarian operations, making an exception for one of its key diplomatic partners, two government officials said.

India recently permitted limited exports of the rice variety, which is currently under the prohibited category, to the UAE and last month to Bhutan, Mauritius and Singapore. These countries appealed to New Delhi to resume rice exports following India’s decision to suspend non-basmati shipments on 20 July to keep prices in check.

In August, Singapore requested around 110,000 tonnes of non-basmati white rice, following which India allowed exports of 50,000 tonnes. The UN World Food Programme also sought 200,000 tonnes of Indian rice for its humanitarian operations amid what it called “catastrophic levels“ of global food insecurity, triggered by the pandemic and the Ukraine war. Bangladesh is also in talks with India for supplies of some agricultural commodities, including rice. “The second tranche of rice may also be exported through the National Cooperative Exports Ltd," one of the officials said.

India up to 17 August in the current financial year had exported 1.97 million tonnes of non-basmati white rice compared to 1.89 mt during the corresponding period last year. Total rice exports, barring broken rice, export of which is prohibited, were 7.33 mt compared to 6.37 mt in the same period.

In view of low pipeline stocks and high exports, rice prices were rising. However, in the coming year, Kharif rice production is expected to be bumper due to a 10.8% increase year-on-year in paddy area to 41.2 million hectares. This may improve domestic availability from October when rice harvesting starts. “Therefore, the government had decided to keep this trade measure in place until September or the arrival of the next rice crop, whichever is earlier," another official said. “The government noted that any extension of such measure beyond this period would adversely impact the interests of farmers."

However, agronomists see lower rice production despite higher paddy acreage. This is ascribed to yield loss due to the uneven distribution of rainfall in the four-month southwest monsoon season. This may ultimately push up prices beginning the next season.

“While southern and central states report no impact on yields, in Uttar Pradesh and Bihar, patchy rainfall in August is estimated to have led to poor tillering which may have a marginal impact on yields," said Pushan Sharma, director - research, CRISIL Market Intelligence and Analytics.

“Considering the sowing and yield situation and market conditions, we expect paddy prices to remain elevated on-year," said Sharma.UP, Bihar, West Bengal and Jharkhand -- key rice-producing states -- received deficient rainfall throughout the June-September monsoon season.

Queries sent to the commerce and food & public distribution ministries remained unanswered at press time.

Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Puja Das
Puja Das is a New Delhi based policy reporter covering food, farm, fertiliser, water, and climate policies for Mint. Puja reports on farmers' distress and how the agriculture sector is impacting India's rural economy and policy initiatives to help meet the pledges made at COP27. Puja holds a post-graduation degree in Broadcast Journalism from the Indian Institute of Journalism & New Media, Bangalore.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 27 Sep 2023, 10:15 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App