According to an indepedent estimate given to the Indian consumer affairs ministry, the country could face a serious supply shortfall of up to 5 million MT of rice which might force India to import rice in the near future.
The production of rice in India, which is the staple for almost 65 % of the domestic population has declined from 93.34 million MT in 2001-02 to 92.76 MT last year.
Annual rice production and consumption figures from 2003-04 to 06-07 have also show a steady increase in the latter by around 1-1.5 million MT each year. In 2006-07, rice production stood at 92.7 million MT compared with a consumption of 91.8 million MT.
What spells worse news is the country’s negative experience with wheat imports from the global market, where the price is seen to escalate in a marked manner once India intervenes with a massive and sudden demand for food grains.
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