Rice Exporting Countries : Rising prices of fertilizers and fertilizers are going to have an impact on the rice crop. This time there is expected to be less production of rice after wheat. Let us tell you that the fertilizer is not being available in the global supply chain in time, due to which the production of rice in whole of Asia is being estimated to be low. Till now wheat had to be exported in India, but now there is a possibility of exporting rice as well.
damage to crops
Thailand is the world’s second largest rice exporter, this time there has been a decline in rice crop yield. Let us tell you that the main reason for this is the increase in the prices of fertilizers and other crop nutrients. At the same time, the second most importing country of rice is the Philippines, where this time sowing has decreased, so the purchase of rice will increase here. The same pests have caused heavy damage to the rice crop in China.
India is a major exporter of rice
V. Subramanian, Vice President, The Rice Trader, says a lot depends on the rice crop in India, which accounts for about 40% of the world’s exports. For now we still have massive Indian availability which is restraining the prices. Rice crop has been affected due to monsoon in the country.
Increased demand in India
In India, the central and state governments are distributing wheat and rice for free at ration shops. At the same place, more rice is being given by cutting the wheat. Therefore the demand for rice is going to increase further. Now in such a situation, global and domestic conditions can affect the export of rice this year.
The highest consumption of rice in Asia
Most of the world’s rice is grown and eaten in Asia. In contrast to the surge in wheat and corn prices following Russia’s invasion of Ukraine, rice rates have come down significantly. There is no guarantee that it will remain so. In a similar situation, in early 2008, amid panic over supply, prices had risen above $1,000 a tonne, which is more than double the level now.