Rice exports slide by 50 pc

NEW DELHI, AUG 16: India's rice exports have declined by over 50 per cent during the first four months of the current financial year on r...

NEW DELHI, AUG 16: India8217;s rice exports have declined by over 50 per cent during the first four months of the current financial year on reduced imports by some of the Asian and African nations, which have recovered from last year8217;s crop loss due to drought.

Commerce ministry sources said registration for non-basmati rice exports between April and July this year have decreased to 8.15 lakh tonnes from 17.52 lakh tonnes during the same period last year.

Registration for exports of basmati, too, had witnessed a decline to 1.52 lakh tonnes from 2.67 lakh tonnes during the period, the sources said. Registration for rice exports are done with the Agricultural and Processed Food Export Development Authority APEDA.

quot;Some of the Asian countries which imported rice on a largescale last year due to the drought caused by the El Nino effect have had a good harvest, particularly Bangladesh in April,quot; the sources said, adding this had shrunk the global rice market trade this year. El Nino is a phenomenon by whichthe temperature in the Pacific ocean rises leading to drought in various parts of the region.

quot;We had a good run last year due to the drought. This year we have not been able to do like last year as our prices are higher,quot; they said. India8217;s non-basmati rice exports for five per cent have been shipped at a price of 280-285 a tonne, while basmati exports was to the tune of 102.8 million, the sources said. quot;The same quality non-basmati rice is being sold at a lower price by Thailand ranging between 230-240,quot; they said.

All India Rice Exporters Association AIREA executive general Brig Anil Adalakha told PTI said any price cut by Indian exporters had been minimal and in response to the prices quoted by Pakistani exporters. Commerce ministry had anticipated non-basmati rice exports to fall this financial year to about 20 lakh tonnes against 46.7 lakh tonnes last year.

Sources said Russia could be one potential source to increase rice exports. quot;They Russia require rice, sugar and wheat. But theproblem in settling the dispute of paying back through exports against arms bought from the erstwhile Soviet Union is holding it up,quot; they said. A private trader said Russian demand for rice was good and it would fortune India. A trading house had bagged orders to export 50,000 tonnes, sources said.

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APEDA officials said India annually exports about two lakh tonnes of rice to Russia under the rupee-rouble debt repayment route. Last year8217;s increase in rice exports had led to fall in the mandatory stocks to be maintained in the central pool in March, though the situation had improved as on July one.

On July one, rice stocks were 107.35 lakh tonnes againstthe mandated 100 lakh tonnes. The reduced stock couple with increase in rise prices hadled to government contemplate restricting its exports.

However, the issue is still pending with the Union Cabinet.