India needs new markets for rice exports, says industry
With China emerging as an export giant and countries like Pakistan, Thailand and Vietnam hampering the market for Indian rice in Asia & Africa, countries like Egypt, China, Mexico, Malaysia, Indonesia and the Philippines could be potential new markets for Indian rice exports, according to a market update by Cogoport, an online logistics marketplace.
Before other countries extend their market share, there is merit in establishing trade relationships, the update, released on Thursday, said.
According to the update, global rice production is expected to see a decline, as smaller crops are expected in the United States, North Korea, and Thailand. India is expected to see a drop in non-basmati rice exports from India in 2019 while Basmati rice exports from India is expected to grow but at a slower rate in 2019.