Rice export down by a half to 2.5 MT in FY09.

India's rice export is estimated to have reduced by a half to nearly 2.5 million tonnes (MT) in 2008-09 against the previous fiscal, though overseas shipment of the commodity has remained at about the same level in value.     

Rice export touched 5 MT in 2007-08. The shipments are estimated to have declined to nearly 2.5 MT in 2008-09 apparently due to a ban imposed on non-basmati rice exports.     

However, the export is about the same level as last year in terms of value due to higher realisation, a senior government official said.     

The export is estimated at $2.5 billion for 2008-09, compared with $2.9 billion in the previous fiscal, he said.     

Out of the rice worth $2.5 billion exported, basmati accounts for $2 billion, while the share of non-basmati touched $0.5 billion.     

India had exported 1.5 MT of basmati in 2008-09, compared with 1 MT the previous fiscal.     

However, the export of non-basmati rice slumped to less than 1 MT against over 4 MT in 2007-08 due to a ban imposed last year to contain surging inflation.

Source : Business Line