India's rice exports held steady in 2024 despite New Delhi's export curbs, as record high premium basmati rice shipments offset a decline in overseas sales of non-basmati rice, government and industry officials told Reuters.

       A steady flow of rice from the world's biggest exporter should help bring down global rice prices and assist New Delhi in reducing stockpiles that have surged to a record high due to a bumper crop.

       "Exports bounced back in the December quarter after exports restrictions were lifted and made up for the shortfall in the first half of the year," said a government official, who asked not to be named as he was not authorised to speak to the media.

       In September and October 2024 India removed almost all of the curbs it had imposed on exports of non-basmati and premier basmati rice in July and August 2023.

       The country's rice exports in 2024 stood at 17.8 million metric tons, marginally down from 17.86 million tons shipped a year earlier, the official said.

       Also Read

       Climate change puts India's rice and wheat output at risk of 6-10% decline

       Lifting rice export curbs can help push agri exports over $50 bn in FY25

       Govt decides to scrap export tax on parboiled rice to boost exports

       Premium

       Centre looks to hit white rice trade sweet spot with weekend moves

       Why India's easing of export curbs is important to global rice trade

       Basmati rice exports in 2024 surged 16.3 per cent to a record 5.7 million tons as Saudi Arabia, Iraq and the United Arab Emirates increased buying despite a jump in prices, he said.

       Non-basmati rice exports eased 6.9 per cent to 12.1 million tons as record prices forced Bangladesh, Cameroon, Djibouti, Gambia to reduce purchases, he added.

       India usually exports more rice than the combined shipments of the world's next four largest exporters: Thailand, Vietnam, Pakistan and the United States.

       "We were expecting a drop of more than 20 per cent in rice exports in 2024, but strong demand in the December quarter surprised us.

       Exports were largely steady and will rise further in 2025," said a Kolkata-based rice exporter.

       In 2022, India exported a record 22.27 million tons of rice, which accounted for more than 40 per cent of the world's total rice exports of 55.4 million tons.

       More From This Section

       Centre mulls lower duties, more imports to counter Trump's tariff threats

       US global 'supplemental tariffs' to target trade-surplus countries

       Trump 2.0: More US energy exports to India likely, says Hardeep Singh Puri

       Davos takes a sigh of relief as Trump holds off starting trade wars

       Premium

       Public-sector banks concerned over rejection rate in PM Vishwakarma scheme