ENA Sectors 2025-01-23 14:53:34 <p><span style="font-size:14px"><strong>New Delhi, Jan 23 (KNN)</strong> India, the world's largest rice exporter, sustained its global rice trade volumes in 2024, with strategic shifts in export composition offsetting initial market constraints, government and industry sources told Reuters.<br /> <br /> Official data reveals that India exported 17.8 million metric tons of rice in 2024, a marginal decline from 17.86 million tons in the previous year. <br /> <br /> The export landscape was characterised by significant variations across rice categories, with premium basmati rice emerging as a critical driver of sustained export performance.<br /> <br /> Basmati rice exports demonstrated remarkable resilience, surging 16.3 percent to reach a record 5.7 million tons. Key markets including Saudi Arabia, Iraq, and the United Arab Emirates continued to import substantial quantities, even amid price increases. <br /> <br /> Conversely, non-basmati rice exports experienced a 6.9 percent reduction, totaling 12.1 million tons, as elevated prices prompted some traditional importing nations like Bangladesh, Cameroon, Djibouti, and Gambia to curtail purchases.<br /> <br /> The Indian government's strategic removal of export restrictions in September and October 2024 played a pivotal role in stabilising the rice trade. These actions effectively counterbalanced earlier limitations imposed in July and August 2023, enabling a robust recovery in the December quarter.<br /> <br /> Industry experts noted that while initial projections anticipated a more substantial export decline, the final figures defied expectations. <br /> <br /> A Kolkata-based rice exporter emphasised that strong December quarter demand not only stabilised exports but also positioned the sector for potential growth in 2025.<br /> <br /> Contextualising India's global significance, the nation traditionally exports more rice than the combined shipments of the next four largest exporters: Thailand, Vietnam, Pakistan, and the United States. <br /> <br /> For perspective, in 2022, India's exports represented over 40 percent of the world's total rice exports, which stood at 55.4 million tons.<br /> <br /> The steady rice export performance is expected to contribute to moderating global rice prices and assist India in managing its record-high domestic stockpiles resulting from a bumper crop. <br /> <br /> This strategic approach underscores India's critical role in global agricultural trade and food security dynamics.<br /> <br /> <em><strong>(KNN Bureau)</strong></em></span><br /> </p> 40761 https://knnindia.co.in/news/newsdetails/sectors/exports-of-basmati-rice-records-16-jump-non-basmati-declines-by-69-in-2024 2025-01-23 14:53:34 knnindia.co.in