Bloomberg: India’s rice crop shrinks due to heavy rains

Rice crops in India, the world’s leading rice exporter, could be reduced this year due to heavy rains. According to the agency Bloomberg citing the Ministry of Agriculture of India, the area under cultivation has already decreased by 12%.

According to the Ministry of Agriculture of India, the area under cultivation for rice has decreased to 30.98 million hectares as of August 12 from 35.36 million hectares in 2021. At the same time, the area under sugar cane increased from 5.45 million to 5.52 million hectares.

Monsoon rainfall in India this summer was 8% above average. However, in some Indian states that specialize in rice cultivation, such as the northern state of Uttar Pradesh, rainfall, on the contrary, is not enough. Sowing in the rainy season usually begins at the end of May, and harvesting at the end of September.

India accounts for about 40% of the world’s rice trade. Formerly The Economic Times informedthat the Indian authorities may restrict rice exports in order to ensure sufficient domestic supply and prevent price increases.

In May, India banned the supply of wheat, citing a threat to the country’s food security. Two days after that, the price of wheat in Europe reached a record €438.25 per ton. Later, India limited sugar exports.

Anastasia Larina