India’s rice prices remain 10% below global average despite projected production decline: IREF

New Delhi [India], October 16 (ANI): India’s rice prices remain around 10 per cent below the global average despite a projected decline in global rice production and rising international prices, the Indian Rice Exporters’ Federation (IREF) said in a press release on Friday.

India’s 5 per cent broken white rice was quoted at USD 385–390 per metric tonne, compared with USD 440–450 for Vietnam and approximately USD 480 for Thailand, according to the release. Indian rice retained its price advantage even as prices reached their highest level in more than a year.

Citing the latest US Department of Agriculture (USDA) outlook, the federation said global rice production is projected to decline from approximately 545.7 million tonnes in 2025–26 to 533.1 million tonnes in 2026–27, a reduction of around 12.6 million tonnes.

Aman Singal, State President (Punjab), IREF, and Director of Eastman International Pvt. Ltd., said India’s competitive prices have supported its position in overseas markets, although exporters face growing cost pressures.

“India’s competitive prices have helped us maintain a strong position in international Basmati & non-Basmati rice markets, particularly in Africa and Asia. However, rising paddy costs, freight charges and uncertainty over crop availability are putting pressure on exporters’ margins,” Singal said.

“Lower export prices alone are not enough. We need efficient logistics, predictable policies and reliable supplies to preserve India’s competitiveness,” he added.

India’s rice production is projected at approximately 147 million tonnes, compared with around 154 million tonnes previously, the release said. However, IREF believes substantial government rice stocks can cushion temporary supply disruptions and support export continuity while safeguarding domestic food security.

Global rice trade is forecast at approximately 61.4 million tonnes in 2027, with India expected to remain the world’s largest exporter.

The outlook will be discussed at the Bharat International Rice Conference (BIRC) 2026, scheduled for October 23–25 at Bharat Mandapam in New Delhi. Experts from S&P Global, BigMint, EY and IREF will examine production, demand, stocks, weather risks and possible price scenarios for 2027. (ANI)