India is the World’s Largest Exporter of Rice, India is the world’s largest exporter of rice. However, it also imports rice from countries like Pakistan, Vietnam, and Myanmar. It also exports to Iran and China. Let’s take a closer look at the country’s rice trade. Listed below are the top four rice exporters in 2018.
India is the world’s largest exporter of rice
Exports of rice from India rose 49% in FY2018 to record 14.7 million tonnes. Non-basmati rice shipments rose 77%, and are expected to more than double to 18 million tonnes by 2021. Exports of premium basmati rice, however, are expected to stay stable at four million tonnes. According to the U.S. Department of Agriculture, global rice exports will reach 48.5 million tonnes in the 2021-22 season. Demand for rice has climbed to record highs.
It imports rice from countries like Pakistan, Thailand, Vietnam, and Myanmar
The Philippines imports 90 percent of its rice from Vietnam and is waiting on another 1.2 million metric tons to be delivered. In the meantime, the Philippines is experiencing a severe rice shortage in the country due to the drought that hit the Mekong River Delta earlier this year. The rapid spread of coronavirus has exposed the divisions in the Southeast Asian region over food security. While the Philippines imports rice from countries like Pakistan, Thailand, Vietnam, and Myanmar, these countries have severely limited their own domestic production.
It imports rice from Iran
Iran imports around one million metric tons of rice a year. However, the government recently increased import tariffs. The Commerical Benefit Tax (CBT) increased from 21% to 41% of the cost insurance freight value, with an additional 4% entry duty and 3% VAT. This makes the total tax paid on rice nearly 50% higher than the CIF value. Iranian rice imports are not reflected in UN comtrade statistics.
It imports rice from China
The United States imports a good deal of rice from China. Since November last year, China has begun to import a greater volume of rice. The reason is primarily a rise in demand for animal feed. China also has begun buying more Indian rice. This has made it easier for India to sell its rice on the world market. Earlier, China was forced to buy from India, but has recently reopened its export market to Indian rice.
It imports rice from Vietnam
Vietnam exports a large quantity of rice. In the last year, it exported 6.25 million tonnes of 100% broken rice worth 3.12 billion USD. Though exports fell by 1.8% in volume, the price of rice also rose. In the first nine months of 2021, Vietnam exported 530 thousand tonnes worth 261 million dollars. The Philippine market remains the largest market for Vietnamese rice exports, accounting for 36% of the total. Vietnam’s rice exports have decreased by 27% over the past year, mainly because it has been focusing on cultivating high-value varieties.
It imports rice from Cambodia
Despite the growing number of rice exports, the sector still faces tough challenges. The country’s rice exports last year were just over 626,225 tons, down by less than 1% from the previous year. The rise is partly attributable to higher volumes exported to China. However, exports are not as profitable as those to the EU. Despite this, Cambodia hopes to see a rebound in rice exports this year.
It imports rice from Thailand
In October, the government of Thailand reported its monthly rice exports increased for a fifth straight month, pushing it closer to reclaiming the world’s second largest role in 2021. Total exports were 773,823 mt in October, up 74% from a year ago. The total of 4.59 million mt for January to October 2021 was Thailand’s highest monthly total since January 2019.
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