India: Domestic Requirement To Reach 104 Million By 2020

According to the latest figures, India's domestic rice requiremet is likely to reach 104 million MT by the year 2020-21 as consumption has been increasing by 1.24 million MT every year.

The consumption of rice rose to 88.25 million MT in 2006-07 from 87.01 million MT last year even as the overall rice production in the country declined to 92.76 million MT in 2006-07 from 93.34 million MT in 2001-02.

India recently banned exports of non-basmati rice below $425 PMT, in order to strengthen its domestic reserves.