Lifting rice export curbs can help push agri exports over $50 bn in FY25

The country's agri exports are expected to cross $50 billion in 2024-25 on account of healthy demand and lifting on curbs on non-basmati rice, an official said on Tuesday.

The official said export curbs on rice, wheat, and sugar impact agri exports to the tune of about $6-7 billion.

"But now the curbs have been removed on rice, we expect that the agri exports will cross $ 50 billion. So far the trend is good, though the growth rate is not positive but as now rice is opened, by December-end, we will be in the positive zone," the official added.

Rice exports are likely to reach 17-18 million tonnes this fiscal year as against 14-15 million tonnes last year.

"It will give a big boost to exports," the official said, adding that basmati shipments may touch 5.5 million tonnes, while parboiled could be around 7-8 million tonnes and over 4 million tonnes of non-basmati rice.

The main commodities, which are registering healthy growth included fruits, vegetables, meat and its products, beverages, and food processing.

Asked about any discussions on lifting the export ban on wheat, the official said so far there is no plan.

The commerce ministry is aiming at taking the agri exports to $100 billion by 2030.

In October, the government removed curbs on overseas shipments of non-basmati white rice and exempted parboiled rice and husked (brown) rice from export duty.

These measures came at a time when the country has ample stock of rice at government godowns and retail prices are also under control.

The country exported non-basmati white rice worth $ 201 million during April-August this fiscal. It was $ 852.52 million in 2023-24.

Though there was a ban on the exports, the government was allowing the shipments to friendly nations like Maldives, Mauritius, the UAE, and African countries.

This variety of rice is widely consumed in India and it also has demand in global markets, particularly in nations with a large Indian diaspora. The ongoing war between Russia and Ukraine is among the factors that have disrupted the foodgrain supply chain.