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In this episode of the State of the Economy Podcast, businessline’s Subramani Ra Mancombu talks to Akshay Gupta, Head of Bulk Export at KRBL, as they dive into the evolving landscape of India’s rice industry.
The podcast begins with a look back at the challenges faced by the Indian rice industry over the past few years, primarily due to weather disruptions that impacted rice production. In response, the Indian government-imposed export restrictions in 2022 and 2023, which included bans on certain rice varieties and the introduction of export duties. These measures were aimed at controlling food inflation but also led to a significant decline in exports.
Gupta discusses the impact of these developments on the agricultural community, particularly rice farmers. With the easing of export restrictions, farmers, especially those cultivating basmati rice varieties like 1509, are benefiting from better market conditions and higher prices. The podcast also touches on the effects of these policy changes on non-basmati rice exports, where previous restrictions have been removed, except for the export ban on 100% broken rice.
The conversation also delves into the crop dynamics for the current season. Gupta explains how the area under rice cultivation has increased by 10-15% due to favorable weather conditions, which is expected to continue into the rabi season. This growth in production is providing more opportunities for farmers to sell their rice, both in domestic markets and for export.
Gupta shares his perspective on the future of India’s rice industry, highlighting the need for continued government support in areas such as research on high-yielding rice varieties. He argues that improved research and development could significantly increase yields and make India more competitive globally.
(Host: Subramani Ra MancombuProducer: Amitha Rajkumar)
About the State of the Economy podcast
India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.
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