![]() Thailand and Vietnam specialize in the export of the Jasmine variety of rice. The primary variety of rice exported by India is the aromatic Basmati variety. The three countries accounted for 70% of the world’s rice exports.Īccording to the latest figures of 2016/2017, the five principal rice exporting countries in the world are India, Thailand, Vietnam, Pakistan, and the United States in decreasing order of amount of rice exported. By 2012, India became the world’s top rice exporter while Thailand slipped to the third position after Vietnam. In 2010, however, the three top exporters were Thailand, Vietnam, and India. In 2002, Thailand, Vietnam, China, the US, and India, the five top rice exporters in decreasing order of exported quantities, were responsible for about three-quarters of the world’s rice exports. The ranking of these countries by export volume of rice has greatly altered over the years. While many countries are significant importers of rice, only five countries are the major rice exporters. Developing countries account for about 83% of exports and 85% imports of rice. Only about 1% of the rice produced globally is traded. Export Of Riceĭeveloping countries are the major players in the world rice trade. In 2012, 4.5 tons per hectare was the average farm yield for rice. About 162.3 million hectares of land was dedicated to rice cultivation in the same year. In 2012, the world produced about 738.1 million tons of rice. European colonization helped introduce rice into Europe and the Americas. From here, the cultivation of rice spread to Southeast Asia and South Asia. The rice was first domesticated about 8,200 to 13,500 years ago in Ancient China’s Pearl River Valley. Wild rice, the ancestor of domesticated rice, is possibly native to Australia. After sugarcane and maize, rice is the third highest produced agricultural commodity in the world. Rice refers to the seed of the Oryza sativa grass species of Asia or the Oryza glaberrima grass species of Africa. Rice is a very important cereal grain that is consumed as a staple food in many parts of the world by a large section of the human population. "The vulnerability needs to be seen from the perspective of both the impact on expenditure for consumers and how dependent countries on imported food items," she added.Top Rice Exporting And Importing Countries Rice comes in several varieties. Low- and middle-income countries, on the other hand, "tend to spend an even larger proportion of their expenses on food." But the country isn't as vulnerable as the Philippines and Indonesia as "the share of rice in the CPI basket is quite small," Varma noted.Ĭonsumers in Singapore tend to spend "a greater chunk" of their expenses on services, which typically seems to be the case for higher-income countries, she said. Singapore imports all of its rice, with 28.07% of it coming from India in 2021, according to Trade Map. And rice makes up about 15% of its food CPI basket, according to Statista.įor some other Asian countries, however, the pain is likely to be minimal. Nomura reported that the country relies on imports for 2.1% of its rice consumption needs. Similarly, India's rice export ban will be detrimental to Indonesia as well. Indonesia is likely to be the second-most affected country in Asia. In light of that, India's export ban would come as an additional blow to the Southeast Asian nation. ![]() Inflation in the country was at 6.3% in August, data from the Philippines Statistics Authority showed - above the central bank's target range of 2% to 4%. The Philippines, which imports more than 20% of its rice consumption needs, is the country in Asia most at risk of higher prices, Nomura said.Īs Asia's biggest net importer of the commodity, rice and rice products account for a 25% share of the country's food CPI basket, the highest share in the region, according to Statista. Consumer price inflation (CPI) for rice also spiked 3.6% year-on-year as of July, up from 0.5% in 2022. "The impact of a rice export ban by India would be felt both directly by countries that import from India and also indirectly by all rice importers, because of its impact on global rice prices," according to a report by Nomura released recently.įindings from Nomura revealed that the cost of rice has remained high this year, with the increase in prices in retail markets hitting around 9.3% year on year in July, compared with 6.6% in 2022. The Indian government recently announced that rice production during the Southwest monsoon season between June and October could fall by 10 to 12 million tons, which implies that crop yields could dip by as much as 7.7% year on year, Nomura said. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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