Rice shortage may appear as a new problem in the world's food market. The reason for this is the reduction in the sowing of paddy due to the lack of rain in some areas of India. The area under paddy cultivation has decreased to the lowest in the country in the last three years. Explain that India is the largest exporter of rice, in such a situation, due to less sowing of paddy here, the production of rice will be less, it will affect the domestic market as well as the countries where India exports rice.
Paddy sowing decreased by 13% this year
Rice production in India is under threat at a time when countries around the world are troubled by the ever-increasing prices of food items. So far this year in India, paddy sowing has fallen by up to 13 percent due to a lack of adequate rainfall in some parts of the country, especially in states like Bengal and Uttar Pradesh. Let us tell that only these two states together produce about a quarter of the rice in the country.
Rice traders believe that while its low production in the country will weaken the fight against inflation, it will also force us to impose restrictions on exports. If this happens, then crores of people dependent on India's rice will have to face the consequences. India accounts for 40% of the rice trade in the world. The government has already imposed several restrictions on the export of wheat and sugar to control the prices in the country.
Worrying about a decrease in production started increasing prices
Rising rice prices in India also raise concerns about the shortfall in production. According to media reports, prices of some varieties of rice have increased by 10% in the country's major rice-producing states of West Bengal, Odisha, and Chhattisgarh due to a lack of rain during the last two weeks. Rice prices in these states are also increasing due to an increase in demand in Bangladesh.
Let us tell you that the largest production and consumption of rice in the world is done in Asia itself. It is an important link in terms of political and economic stability in the Asian peninsula. Reliance on rice increased after Russia's invasion of Ukraine caused a surge in wheat and corn prices, which has helped ease the food crisis but also depleted sufficient rice stocks.
Rice production in India is dependent on monsoon
Rice crop production in India is now largely dependent on the progress of the monsoon. Some agricultural scientists are optimistic that there is still time left for planting. Normal rains are expected in August and September, so crop production can improve if the monsoon is accompanied. At the same time, farmers say that due to the lack of rain in June, they have to cut the sowing of paddy.
Inflation will increase due to a decrease in rice production
A reduction in rice production may also affect the fight against inflation in the country. The inflation rate in the country remains above the RBI's tolerance level of 6 percent. This has also increased the chances of interest rates going up. RBI may decide on this week as part of the exercise to strengthen the rupee.
India supplies rice to 100 countries in the world
India supplies rice to more than 100 countries of the world, including Bangladesh, China, Nepal, and many countries in the Middle East. Although some good news is also coming in terms of food security in the world, there may be a bumper production of wheat in the coming weeks in the US, while for the first time after the start of the war with Russia, a consignment of food items will also be sent from Ukraine. It's over This will give a big boost to the global supply chain. Some experts believe that because of the decreasing area under paddy cultivation in many states of India, the government should reconsider its policy of supplying rice for ethanol production.
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