Rice is the seed of the grass species Oryza sativa /Asian rice or Oryza glaberrima less frequently known as African rice. Domesticated rice, as a cereal grain, is the most extensively eaten staple food for more than half of the world’s population, particularly in Asia and Africa. After sugarcane and maize, it is the agricultural commodity with the third-highest global production.

In 2020, the world produced 503.17 million metric tonnes (848.4 million short tonnes) of paddy rice, with China and India accounting for 49 % of the total production. Indonesia, Bangladesh, and Vietnam were also the other main producers. In 2020, the top fifteen producers contributed 91 % of world output, while the top five producers accounted for 72%. Since rice is a key food staple and a source of food security for the rural people 95 % of overall production is produced in developing nations.

Rice is India’s most significant cereal food crop, accounting for one-fourth of the country’s total planted area. Rice, being a basic food crop, can be grown in a hot and humid area with ease. The crop is generally grown as a Kharif crop in rainfed parts of the country with substantial yearly rainfall. With the advent of Covid 19, there is a spike in the consumption of rice due to changes in health habits in India and across the world. On the other hand, travel restrictions have had only a minimal impact on the market. Nevertheless, the Indian rice market is expected to grow at a CAGR of 2.7%  from 2021 to 2026.

According to the FAO (Food and Agriculture Organization of the United Nations), India produced 102.36 million MT of rice in 2020. India is the world’s second-largest rice producer, accounting for more than 11% of worldwide output and cultivating high-yielding rice varieties, after China. West Bengal, Uttar Pradesh, Andhra Pradesh, Punjab, Tamil Nadu, Odisha, and Bihar are the biggest rice-producing states in India.

In the previous 60 years, India’s rice output has expanded by 3.5 times. The market is growing due to increased demand for Indian rice from North America and Europe combined with favorable climatic circumstances. This also means that India’s production is higher than in other Asian nations like Thailand and Pakistan.

According to the WTO, India was the world’s top rice exporter in 2020, accounting for 29.3 % of rice exports. Iran, Saudi Arabia, Iraq, the United Arab Emirates, and other Middle Eastern nations are the leading importers of rice from India. India’s rice exports are expanding in response to rising worldwide demand. Between 2016 and 2020, the value of exports from India increased significantly each year. In the year 2019, the country exported 9,819 thousand metric tonnes of rice. As of 2020/2021, India had the greatest rice export volume in the world, with 17.72 million metric tonnes. Furthermore, rising rice consumption in emerging and developing countries throughout the world might propel rice exports higher from 2021 to 2026.