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Money > PTI > Report August 29, 2002 | 1701 IST |
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India to make big gains in rice exports: UN reportIndia is likely to make big gains in rice exports in 2002, which is expected to rise sharply to 4.2 million (42 lakh) tonnes as competition for international rice market share intensifies during the year, according to a report released by the United Nations. The report issued by the Bangkok headquarters of the Food and Agriculture Organisation said exports are expected to rise sharply despite a two million tonnes (20 lakh) fall in India's paddy output from the previous year's. Exports will increase by 600,000 tonnes to 4.2 million tonnes this year, which will be nearly double the 2000 level of 2.2 million (22 lakh) tonnes, it said. The report said the weak monsoon would be a factor for the two million tonne fall in rice production this year. It said world paddy production in 2002 is now forecast at 595 million (59.5 crore) tonnes, up six million (60 lakh) tonnes from the previous estimate, but still one million tonne below the 2001 figure. "The 2002 production outlook, however, is still highly uncertain, especially as adverse weather conditions are being reported in several parts of the world, including faltering monsoon rains in India, it said.
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