NEW DELHI, INDIA — India’s rice exports in marketing year 2022-23 are forecast to decline to 17 million tonnes, down from last year’s record shipments of 21.5 million tonnes, according to a Global Agricultural Information Network report from the US Department of Agriculture’s Foreign Agricultural Service (FAS).
The Indian government on Sept. 8 banned exports of broken rice and imposed an export duty of 20% on rice in husk and semi- or wholly milled rice other than parboiled and basmati. Based on the latest official statistics, 2021-22 ending stocks have been lowered to 35 million tonnes, with 2022-23 ending stocks projected to drop to 32 million tonnes.
“The government reported that the export control measures were announced to contain rising domestic rice prices resulting from lower rice plantings and production prospects for the upcoming 2022-23 kharif rice crop,” the FAS report said.
Earlier this week, the Indian government said the country’s stocks of rice and wheat are sufficient, and wheat could be sold by the government to help control domestic prices, if necessary.
India is the world’s second largest rice producer, behind China, and is the leading exporter most years.