Rice prices drop sharply in India: What's the reason
Rice just got a lot more affordable in India, thanks to a bumper kharif harvest and fresh arrivals after Diwali.
Everyday Swarna rice is down 8.33% (₹36 to ₹33 per kg), while the fancy Gobindobhog variety saw a huge 36% price cut (₹220 to ₹140 per kg).
Even Basmati 1509 is now cheaper at ₹80 per kg, compared to ₹85 earlier.
Exporters are looking at new markets like Japan and Indonesia
India shipped out more rice this year—3.17 million tons so far versus 2.72 million last year—but high US tariffs mean exporters are looking at new places like Japan and Indonesia.
For folks at home, these lower prices should make rice more accessible, especially with wedding season coming up.
Over 110 million hectares of kharif crops have been planted
Over 110 million hectares of kharif crops have been planted, flooding the market with paddy and keeping prices low for the next few months.
Exporters and government teams are working together to manage price swings for farmers while exploring fresh export markets.