Rice Industry Analysis requirement has become essential nowadays. As its Demand is growing higher year by year amidst many countries. India is one of the largest Consumers and Rice suppliers that hold the “Rank 2” after China holds the number 1 position. Indian Rice Industry plays a vital role in economic growth, employment rates, and foreign exchange incomes. It is, indeed a huge agricultural sector which makes a lot of capital for the country.
So that wouldn’t be justified enough when we are talking about Indian rice, and if we don’t mention Basmati one. This type of rice is the most premium and famous Rice, that holds the highest ever exports of around Rs. 30,000 crores in the year 2019. In the previous year, it was Rs. 29,300 crores of shipment Transaction in 2014.
There are many types of rice breeds in India in which basmati is on top. Basmati itself too has its own different varieties and types.
Basmati Rice is a variety of long-grained rice that originates in the Himalayas. But now it has been spread out throughout the whole India among which Haryana has become the major basmati rice cultivating state. It produces more than 60% of the total basmati rice in India, is traditionally served in Indian and other South Asian cuisines.
The growth has been fired by considerable firming up of average realizations. Strong demand from Iran and a steady increase in paddy prices for three years in a row, as a result, the growth expansion has been increased.
Although importing from Saudi Arabia has been decreased in recent years as we compare it to their shipments in the year of 2013. But is still on the top-notch and holding spot number 1 in importing rice from India.
Saudi Arabia has none of its own domestic production, so the country is almost reliable to other countries such as China, India, and others in terms of Rice. But if we talk about only India, Saudi Arabia is a major export market for Indian basmati rice and accounts for 20% of the country’s annual exports of 4-4.5 million tonnes.
If we dig a little deep, current growth is nothing as we compare it with the growth of before the 60s, the progress of Indian rice export term from Saudi Arabia was in minus unless 1965. A great curve in the growth chart was noticed and from then, the ups and downs have been history.
Recently, Iran has declared itself self-sufficient in basmati rice production. This would save basmati rice imports worth 1.1 billion dollars for them but still, Iran has imported 10.80 lakh tonnes of basmati rice from India in recent months. Iran has remained the largest importer of basmati rice in recent years, buying over 30% of the total exports of the commodity from India.
When we are talking about Rice importing countries so how can we not mention the United Arab Emirates (UAE).
The weather and atmospheric condition are not compatible with harvesting. Also, they have none of their own resources too and are unable to harvest on a current basis. So they import rice mostly from many countries but from India.
UAE is one of the biggest, NON-BASMATI rice importers after Iran. This country is one of the top 3 rice importers from India.
For more information on rice, you have to do a bit of Import-export market research if you want to take a step towards this market. You would get to know about the market conditions.
Just in case if you are a newbie in this sector, you can determine your goals and obstacles by making some of the essential analytics that import-export market report renders to you.
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