India may corner nearly half of global rice trade as exports soar to record

India could account for as much as 45% of global rice exports in 2021 as expanded port-handling capacity allows the world's second largest rice grower after China to ship record volumes to buyers across Africa and Asia.

The world's top exporter could ship as much as 22 million tonnes of rice this year, or more than the combined exports of the next three largest exporters Thailand, Vietnam and Pakistan, said Nitin Gupta, vice president of Olam India's rice business.

"Along with traditional buyers, this year China, Vietnam and Bangladesh are also making purchases from India," he said.

India's exports in 2020 jumped 49% from the year before to a record 14.7 million tonnes, as shipments of non-basmati rice spiked 77% to a record 9.7 million tonnes.

India on course to dominate global rice trade in 2021 as new port capacity boosts shipment potential

In 2021, non-basmati rice shipments could nearly double from a year ago to 18 million tonnes, while premium basmati rice exports are seen steady at 4 million tonnes, Gupta said.

The U.S. Department of Agriculture projects global rice exports of 48.5 million tonnes in the 2021-22 season.

Photo: pexels.com