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Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Basmati Rice market.
Trusted Business Insights presents an updated and Latest Study on Basmati Rice Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Basmati Rice market during the forecast period (2019-2029). It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Global basmati rice market is expected to be valued at US X Mn in 2020 and register CAGR of X % by end of 2028. The global basmati rice market by operating environment report has been segmented on the basis of product type, application, and region.
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Basmati Rice: Product Overview
The widely used basmati rice is nutritious, low-calorie, fibrous food which contains vitamins, proteins, minerals, and has an aromatic flavor. There are two types of basmati rice commonly available and used, such as white basmati rice and brown basmati rice. This rice can either be used raw, parboiled, steamed, etc. Basmati rice contains the eight necessary indispensable amino acids, folic acid, low sodium with no cholesterol, which is essential for human body and is considered good for individuals with heart-related issues and diabetes.
Global Basmati Rice Market Dynamics:
Increasing population and rising demand for healthy food products, coupled with high amount of cultivation of Basmati rice, especially in India, Bangladesh, Vietnam, Pakistan, and other countries in Asia Pacific region is a major factor expected to drive growth of the global basmati rice market. In addition, rice is one of the staple food consumed by individuals across the world, especially Asian countries, which is also another factor expected to continue to support growth of the global basmati rice market in the years to come.
Moreover, basmati rice is helpful for weight loss as it contains low carbohydrate, improves vitamins B deficiency, increases magnesium, and help to build healthy bone, which in turn is anticipated to drive growth of the global basmati rice market. Furthermore, basmati rice helps in improving deficiency of iron, and consumption of basmati brown rice which contains high fiber content are other major factors expected to boost growth of the global basmati rice market.
Basmati rice is also being used for production of personal care products and cosmetics which is expected to support market growth to a significant extent.
Increasing preference for online shopping, along with rising focus of manufacturers to make their products visible on E-commerce and M-commerce platforms is expected to further support market growth.
Analysis by Segment
By Product Type:
Among the product type segments, the raw segment is expected to account for considerable share in terms of revenue in the global basmati rice market.
By Species:
Among the two basmati rice species segments, the white rice segment is expected to dominate in the target market in terms of value and consumption. The brown rice segment is projected to register considerable growth rate owing to rising preference towards healthy options by consumers in various developed as well as developing countries across the globe.
By Application:
Among the application segments, the food segment accounted for major revenue share in 2018 and is expected to continue to dominate in the global market over the next 10 years.
By End-use:
Among the two end-use segments, the commercial segment is projected to register considerable growth rate in terms of value and consumption over the next 10-year period, owing to increasing adoption of basmati rice by restaurants, food processing industries, bakery sector, personal care products industry, among others.
Regional Analysis:
The market in the Asia Pacific is expected to account for significant share in terms of revenue in the global basmati rice market, owing to growing demand for raw basmati rice by consumers in most of the countries as it is staple food and growing spending capacity of population on superior quality food products. In addition, rising trend of consumption of food of higher nutritional value such as brown basmati rice specifically by individuals focusing on losing weight is expected to further support growth of the Asia Pacific market. The market in North America is expected to witness lucrative growth in the target market in terms of revenue share, owing to high demand for rice and rice-based products in countries in the region. The Europe market is expected to account for significant revenue share in the target market owing to ever-increasing demand for bakery products and rice as an ingredient for flavor and fragrance.
The
government's decision for a cut on import duty of rice appears to be a hastily
taken one. The reason for the decision, according to the food ministry, is the
shortfall in the ongoing procurement of Boro rice this year. Curiously, this
shortfall has nothing to do with the availability of the major staple which, as
reports say, has experienced a bumper harvest. So, what is it that impedes the
procurement drive? It is the price set by the government at Tk 35-36 a kg which
according to experts is well below the market price. As a result, neither
farmers nor millers are interested to sell their produce to the government at
prices they consider unreasonable. Reports say currently coarse rice sells at
Tk 42-45 per kg, while medium and finer varieties sell at Tk 48-54 and Tk 55-65
respectively. The current price of coarse rice is 16-18 per cent higher than
that of the last year.
The
procurement drive that began on April 26 and would continue until August 31
has, so far, been able to accomplish very little, collecting some 0.34 million
tonnes of rice till July 05 as against the procurement target of 19.5 million
tonnes. Presently, the government has 0.9 million tonnes of rice in stock which
was 1.37 million tonnes in the corresponding period of the previous year.
Clearly, there was a serious mismatch in fixing the procurement price, and one
wonders how the authorities did so disregarding the market price. The
anticipated bumper harvest might have influenced the price-setting, but once it
became apparent that market prices were higher, and that farmers and millers
would not bother to help the government build its stock receiving less than the
market prices, the authorities should have revised the prices.
It may be
noted that the agriculture ministry had said last month that the fairly good
harvest of Boro paddy was capable of getting rid of worries about food security
for the coming six months. Over and above, the next major paddy crop
Aman which is set to be harvested in less than six months and that of Aus
coming up in three to four months make it a no-worry situation so far as food
security is concerned for the next one and a half years. Obviously, such
optimism was backed up by the government's readiness to build an adequate stock
and that could be possible on offering a reasonable price.
Now that the
duty on rice import is set to be reduced, concerned quarters are unanimous that
it would seriously harm the next crop Aman besides affecting the state coffer
through spending in foreign exchange on import. If imports start arriving from
August, observers fear, prices of this second important crop Aman could drop
drastically during the harvesting season from November to January. As a result,
farmers in the vast swathes of the Aman-growing regions in the eastern part of
the country would be hard hit. The policymakers would do well to take this
factor into consideration before further firming up the decision of duty
reduction.
India sees
sharp rise in edible oil exports at 80,765 tonnes for 2019-20
Our Bureau Ahmedabad | Updated
on July 16, 2020 Published
on July 16, 2020
At current tariff value of USD 573 per tonne for refined
palmolein, SOPA said the amount of customs duty being evaded is ₹ 19,968 per tonne. - Reuters
Brightens
price prospects for oilseed growers
In a major boost for India’s
oilseed sector, the country has recorded a sharp jump — nearly 54 per cent — in
edible oil exports to 80,765 tonnes for 2019-20, according to government data.
India had exported 52,490 tonnes
of edible oils in 2018-19. The country earned ₹955.51 crore during 2019-20 from
the exports, which is more than ₹320 crore higher from ₹627 crore recorded in the previous year.
The rise in bulk exports is seen
as a big boost to oilseed growers as it brightens the prospects for better
remuneration for their oilseed crops. Edible oils are freely exportable in
bulk, while mustard oil is allowed in consumer packs not exceeding 5 kg. Major
oils exported are groundnut oil, rice bran oil and also small quantity of
sesame oil, sunflower oil and mustard oil. Groundnut oil is a major oil
exported from India with a total of 38,226 tonnes of exports worth ₹390 crore. China is a major buyer of India’s groundnut oil
(crude and edible) with 33,505 tonnes. Last year, India had exported 15,533
tonnes of groundnut oil worth ₹128 crore.
Bhutan and Canada are the largest
buyers of India’s soyabean oil with 5,708 tonnes and 2,193 tonnes respectively,
while the US imports 1,140 tonnes of soyabean oil from India. India exported
9,822 tonnes of soyabean oil during 2019-20, which is valued at ₹86.23 crore. Soyabean oil exports for 2018-19 were recorded at
4,246 tonnes worth ₹38 crore.
India also exported mustard oil
in consumer packs of 5 kg at 3,681 tonnes worth ₹46.97 crore, mainly to the UAE with 963 tonnes and to the US
with 445 tonnes. India reported a rise in exports of sesame oil and coconut oil
over the last year at 5,618 tonnes and 7,870 tonnes, respectively, showing a
year-on-year growth of over 12 per cent and 15 per cent, respectively.
“The rise in exports of edible
oils is a positive development for India’s oilseed growers. This enables higher
realisations for their crops,” said BV Mehta, Executive Director, The Solvent
Extractors’ Association of India (SEA).
Export of rice bran oil has been
allowed in bulk since September 2015, which has helped boost exports. As per
data compiled by SEA, India exported 12,521 tonnes of rice bran oil and small
quantity of mahua and mango kernel oils worth ₹127 crore. In 2018-19, India
exported 12,807 tonnes of rice bran oil. Major buyers for India’s rice bran
oils are the US, Japan, Malaysia and Thailand.
Whenever there is a food poisoning outbreak linked to produce,
we have told you that one source of the pathogen may be bird droppings. A new
study conducted at Rice University and published in Elsevier journal Environmental
Pollution states that bird droppings carry antibiotic resistant
bacteria and may “harbor abundant” numbers of the pathogen along with
resistance genes.
The study was conducted by environmental engineers and led by
postdoctoral research associate Pingfeng Yu of Rice’s Brown School of
Engineering and co-author Pedro Alvarez.
Earlier studies showed that bird-borne antibiotic resistant
genes (ARGs) and bacteria can be transferred to humans through these vectors:
swimming, contact with bird feces or contaminated soil, and inhaling
aerosolized fecal particles.
Alvarez told Science Daily, “We still
do not fully understand what factors exert selective pressure for the
occurrence of ARGs in the gastrointestinal system of wild urban birds. Residual
antibiotics that are incidentally assimilated during foraging is likely one of
these factors, but further research is needed to discern the importance of
other potential etiological factors, such as bird diet, age, gut microbiome
structure and other stressors.”
The scientists compared fresh fecal samples from each bird
species found in the Houston area in the winter and summer months to samples
taken from poultry and livestock that may carry some of the same mutations.
They found that antibiotic resistant genes in all species had significant
resistance to tetracycline beta-lactam and sulfonamide antibiotics. And the
“relatively high abundance” of ARGs were comparable to those found in fresh
feces of domesticated poultry that are given antibiotics in their feed.
Alvarez added, “Our results indicate that urban wild birds are
an overlooked but potentially important reservoir of antimicrobial resistance
genes, although their significance as vectors for direct transmission of resistant
infections is possible but improbable due to low frequency of human contact.”
They also found that ARGs were in the soil up to 1 inch deep
around the bird droppings, which may play a role in contamination of crops.
The researchers concluded that since bird droppings carry
antibiotic resistant bacteria, people should avoid contact with them,
especially vulnerable groups who are at high risk for complications from
infections. The bacteria can cause respiratory infections, food poisoning, and
sepsis.
Huiru Zhao, Ruonan Sun, Pingfeng Yu, Pedro J.J. Alvarez. High levels of antibiotic resistance genes and opportunistic
pathogenic bacteria indicators in urban wild bird feces. Environmental Pollution, 2020; 266:
115200 DOI: 10.1016/j.envpol.2020.115200
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regarding your foodborne illness.
