Posted November 15, 2020 11:22:56Indian rice noodles, which have been around for centuries, are in for a big boost.
Indian Prime Minister Narendra Modi has said he plans to increase rice imports to 1 million tonnes this year, the equivalent of 7 million tonnes of wheat.
The government is also set to introduce new measures to boost rice exports, including an increase in exports from China and the United Arab Emirates.
India’s trade with China has been slowing recently, as a result of the ongoing trade war between the two countries.
As part of the trade war, China has blocked imports of Indian rice and wheat, which India relies on to feed its population.
But it is unlikely to be the last trade war India will have.
India is also seeking to diversify its rice exports to markets like China, where its exports are up.
A deal is also likely to be signed between India and Brazil to increase its rice imports by 1 million tons this year.
(Reuters: Subramanian Swamy)India’s rice exports will be up by about 15 per cent this year after the import ban on Chinese rice is lifted, with the country’s exports increasing by 7 per cent.
It has been estimated that India could export nearly 10 million tonnes (2.6 million tonnes) of rice this year in addition to wheat and soybeans.
China is India’s biggest trading partner, with trade worth about $7 billion.
With China’s trade war raging, India is looking to diversifying its rice supplies.
According to data from the International Rice Council, India’s rice imports are expected to grow by about 3 per cent from this year to 2018.
In 2018, India imported more rice than China.
However, as China has recently ramped up its imports of wheat and other grains, the rice situation is likely to deteriorate.
Chinese President Xi Jinping said last month that he expects India to diversification its rice production in coming years, a position that India has rejected.