Meanwhile, farmers and rice traders are more focusing on improving rice quality and meeting rules of origin to penetrate highly demanding markets of the EU, South Korea or the US. The Vietnam Food Association noted there has been a positive shift in Vietnam’s rice export structure towards a focus on fragrant rice products with higher quality and price. In 2020, Vietnam exported 6.15 million tons of rice for US$3.07 billion, down 3.5% in quantity but up 9.3% in value against last year.įor the first four months of this year, Vietnam exported nearly 1.9 million tons of rice for US$1.01 billion, down 10.8% in quantity but up 1.2% in value, mainly due to a 13.4% increase in rice export price, reaching US$534 per ton on average. Among them, China would account for the largest amount of rice imports in 2021 with 2.9 million tons, followed by the EU (2.45 million tons), and the Philippines (2.2 million tons), with all of them being Vietnam’s major rice buyers. In contrast, global rice consumption and residual use during the period is projected to be a record 504.3 million tons, 0.4 million tons less than the previous forecast but eight million tons more than a year earlier.Ĭountries and territories that are expected to boost their rice imports include the Philippines (up 13%), Cote d’Ivoire (9.1%), Ghana (5.6%), and EU (2.1%). The US Department of Agriculture (USDA) released the latest projected data on its global rice outlook report.Īccording to the USDA, India is expected to remain the largest rice exporter of the world with 15.5 million tons, representing a surge of 940,000 tons year-on-year, while Thailand could be the third by exporting 6.1 million tons, up nearly 400,000 tons.įor the 2020-2021 period, global rice production is forecast to reach an all-time high of 504.2 million tons, down 0.24 million tons from the previous forecast but up 1% from a year earlier. Rice packaging for export at Trung An Hi-tech Farming Company. 1 producer of rice but also the biggest importer of grains worldwide, high temperatures and below-average rainfall in rice growing regions have depleted soil moisture to the lowest level in more than a decade, as shown in this display from Gro’s Climate Risk Navigator for Agriculture.Ĭountries most affected by an Indian rice ban would be those already suffering from high domestic food price inflation, such as countries in Africa, along with Turkey, Syria, and Pakistan.įor example, in Benin, Africa’s top importer of rice, domestic food prices are currently 40% higher than at the start of 2020, when global food inflation began to accelerate, according to Gro's Agricultural Price Inflation Application. Rice is a water intensive crop and El Niño conditions tend to bring less rainfall to key rice production areas in Asia. Such low inventories mean any additional reduction in shipments would likely fuel food price gains that continue to be driven by the Russia-Ukraine war as well as dry weather that is seen curtailing production of major crops worldwide.įears of crop damage due to the return of El Niño has also pushed up rice futures prices, which are currently at a two-year high. Among major rice exporting countries, the grain’s stocks-to-use ratio, a key measure of supply availability, is expected to drop in 2023/24 to the lowest level in five years. But such measures threaten to further tighten global supplies of many commodities. India previously enacted a ban on non-basmati rice exports in 2008.Ĭountries typically enact export restrictions to maintain domestic supplies and control domestic prices. )īut Indian data released this week showed food price inflation remains a problem, and the government reportedly is considering broader export restrictions that could impact all non-basmati rice, or about 80% of India’s total rice exports. (Other commodities affected by Indian export restrictions include wheat and wheat flour as well as sugar, as Gro wrote about here. The government last year banned broken rice exports and imposed a 20% duty on shipments of white and brown rice. India already has rice export restrictions in place. India is one of the world’s lowest-cost providers of rice, although its export prices have risen in the past year, as seen in this Gro display. India accounted for 40 of the worlds total rice shipments in 2022 and it is a key supplier of the grain to several countries in Africa and South Asia. Other African countries also import a large amount of Indian rice. Top destinations for Indian rice include Bangladesh, China, Benin, and Nepal. It also could risk exacerbating food insecurity in countries highly dependent on rice imports. Additional export curbs may send already elevated global prices of the food staple higher. India is the world’s largest rice exporter, accounting for more than 40% of world shipments. India’s rising food price inflation has sparked concerns that the government may further limit rice exports, and possibly ban most shipments of rice from the country.
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