| Date: |
22-11-2013 |
| Subject: |
India to retain top rice exporter rank, says CARE Ratings |
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MUMBAI: India is expected to retain its top rank as rice exporter in 2012-13 marketing year on bumper production and strong export demand for Indian rice, both basmati and non basmati.
India's production of rice hit an all-time high in 2011-12 crop year (period from July to June) and crossed the 100 million tonnes level.
India has also emerged as the world's leading exporter of rice in 2011-12 (period from October to September) and is expected to retain its top rank as rice exporter in 2012-13 due to bumper production and strong export demand for Indian rice, both basmati and non basmati, CARE Ratings said in its report here today.
According to the first advance estimates released by the agriculture ministry, India's kharif rice crop output is expected at 92.32 tonnes during the 2013-14 crop season, which is more or less in line with the kharif rice output of 92.76 tonnes last year.
India is expected to retain its top rank as rice exporter in 2012-13 marketing year given the second-highest level of production during the 2012-13 crop year, large public stocks, liberal export policy and weak currency.
Source : economictimes.indiatimes.com
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