India’s rice output faces biggest drop in two decades
Local rice prices have risen on expectations of lower production due to below-normal rainfall, pushing export prices to their highest in more than a year.
MUMBAI - India's rice production is projected to decline to the lowest level in nearly two decades, due to a prolonged dry spell in southern and eastern states. Reuters has reported that the world's largest rice producer and exporter will face a significant drop in yields, which could reduce the country's output by around 10 million metric tons.
This would represent a 6.5% decrease from last year's record 154 million-tonne harvest, marking the biggest decline since 2009/10 when an El Nino-induced drought hit production. The shortfall is attributed to below-normal rainfall during the crop's maturation period, with some rice-growing regions facing rainfall deficits as high as 42%.
Despite the lower output, India's massive rice stockpiles will enable it to maintain record exports, though this could drive up local prices and make exports more expensive in an already rising market.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- India’s rice output faces biggest drop in two decades freemalaysiatoday.com
