India can emerge as key rice supplier as global production falls 9% and demand rises 14%: IREF
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- ✓India can emerge as a key rice supplier as global production fell 9% and demand rose 14%, said IREF.
- ✓Dev Garg said, "India is in a very comfortable position to supply to the world." India has surplus stocks to meet international needs despite challenges like higher fuel and fertilizer costs.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
Synopsis
India's rice production is expected to decrease, while global demand is projected to rise significantly. The country possesses sufficient surplus stocks to address international market needs. Other major rice-producing nations are under pressure, which presents opportunities for Indian exporters. Challenges such as rising fuel and fertilizer costs continue to impact the global rice market. This situation could enhance India's status as a key player in the international rice trade.
New Delhi: India is in a strong position to meet rising global demand for rice as global production is expected to fall by 9 per cent while demand is projected to increase by 14 per cent, Dev Garg, National Vice President, Indian Rice Exporters Federation (IREF), said in an exclusive conversation with ANI.
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The Economic Times
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