Various industries suffered greatly during the pandemic.
But only the agriculture sector in India was functioning as usual without any hiccups.
We started getting the results very soon.
Global demand for rice was high.
Even rice-exporting countries like us were affected by the decline in rice yields.
But as the agriculture sector was not affected in India, rice export started to increase little by little.
At one point more than half of the world was buying rice from us.
Even our competing rice exporting countries had to import rice from India.
A lot of foreign exchange came in.
Then in the next harvest, the countries that were buying rice from us saw good yields.
They came back to export rice.
Our competing rice exporting countries are China, Thailand, Vietnam and Indonesia.
Rice yields in these countries have started to decline again.
This is due to the exorbitant cost of fertilizer.
Fertilizer demand in various countries has increased due to the fact that Russia and Ukraine, the largest exporters of fertilizer, are engaged in war.
The price also went up.
Many countries cannot afford to buy fertilizers and do agriculture at high prices.
Hence the yield was greatly affected.
Rising fertilizer prices have not been an issue in China.
Because they themselves export fertilizer to various countries.
But there was another problem in China.
Rice yield was affected by about 10% due to the unprecedented scale of pest infestation.
There is a possibility of a global rice shortage again at the end of this year or early next year.
Our competing rice exporting countries will first meet domestic demand and then export.
Currently, their exports are also likely to decrease as domestic production has decreased due to the increase in fertilizer prices.
Experts predict that India will again have a huge rice export opportunity at that time.
But the reality is that India cannot take advantage of this rice export opportunity.
Due to unseasonal rain and heat wave in India, rice and wheat yields have been severely affected.
It is said that export of rice may be banned or restricted like wheat export was banned.
Export Import Business Consultant - WhatsApp 91-9043441375
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