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The rice price is one of the most important prices in the food chain. It impacts millions of people around the world, and it’s especially important for those in developing countries. In this post, we’ll discuss what drives the rice price, and we’ll provide a forecast for the next few months. Keep a lookout, because this is one topic you don’t want to miss!

Sowing Period- May-June

Harvest Period- September-October 

Crop Season- Kharif (Autumn)

Sowing Period- June-July

Harvesting Period- November-December

Crop Season- Rabi (Winter)

Sowing Period- November-December 

Harvesting Period- March-April 

Crop Season- Spring (Summer) 

Key Growing Areas

Are you feeling anxious about the rice price trend? Interested in seeing where the price is headed? Wondering if it’s a good time to invest in rice? Then this is the blog for you! In this post, we will explore the current rice price trend and provide a forecast for the next few months. We will also discuss the demand for rice, and whether or not there is a possibility of a glut in the market. Finally, we will provide some tips on how you can navigate this difficult market experience. Let’s get started!

  • West Bengal (produces 15% of the total quantity of rice produced in India) 
  • Uttar Pradesh 
  • Punjab 
  • Tamil Nadu 
  • Andhra Pradesh 

Production Trend and Stock Position 

  • India is known to be the 2nd biggest rice producer and consumer worldwide after China, and this is considered to be 21% of the world’s total rice production. 
  • In the period of 53 years, from 1950-51 to 2003-04, rice yield, area, and production have risen by 3,1.5 and 4 times respectively. The rate of increase in production is noted to be more than that of the area under rice cultivation, and this is because of the rising yields due to better inputs and farm practices. New high-yielding varieties of rice had been introduced in Punjab, Haryana, and Tamil Nadu.
  • The rice production in India is kept down at a record of 121.46 M tons in the 2020-21 crop-year against 118.87M tons the year before. 
  • Set back in the production was seen in states like Kerala, Mizoram, Pondicherry, Tamil Nadu, Sikkim, and Goa. 
  • Over the last 6 years (2014/15 to 2018/20), the average area was 43.9 million hectares, producing 109.76 million tons, and yielding 2499.96 kg/hectare.

Rice stock in the central pool over the years:

Monsoon Update 

  • The government raised the price of new-season rice from farmers by 2.9%
  • India produced around 117.94M tons of rice in 2019-2020. India had started planting rice as soon as the monsoon hit the rice-growing areas.  

Pricing Trend

In India, the Kharif rice production is anticipated to reach a record level of 107.04 mt during 2021-22, which is somewhat higher than the previous year’s number of 104.04mt. 

Rice Mandi price

CropCrop Season2016-172017-182018-192019-202020-21 (as per 4th Advance Estimate)
RiceKharif96.3097.14102.04102.28104.41
RiceRabi13.4015.6214.4416.5917.86
RiceTotal109.70112.76116.48118.87122.27 

India’s non-basmati rice exports in 2022 may experience a shrink because in 2021, rice-producing nations worldwide, including MyanmarThailandVietnamBangladesh, and Pakistan, have noticed good crops. New crops have arrived in all the rice-producing nations, which has resulted in the price change in India too. The rice prices have softened and have decreased by INR 744.25/ton. 

General information 

Rice is the principal food crop and the staple food of more than half of the world’s population. 

Source – USDA
Study Period:2016 – 2026
Base Year:2020
CAGR:2.7 %
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