The world’s second-largest producer of wheat, rice and sugar, India has restricted exports of those commodities to rein in rising home costs.

New Delhi could take into account an alternate route alongside Africa for shipments of basmati rice if assaults by Yemen’s Houthi group persist, which may raise costs by about 15% to twenty%, the supply added.

The alternate route may have an effect on India’s exports of the long-grain rice to Egypt and Europe, stated the supply, who spoke on situation of anonymity, as he was not authorised to talk on the matter.

However, India expects progress in exports of different farm commodities to offset the export deficit this 12 months, stated Rajesh Agarwal, an extra secretary within the commerce ministry.

“If we remove agricultural commodities whose exports are controlled, like wheat and rice, exports are growing by over 4%,” Agarwal informed reporters.

“So, despite the shortfall of about $4 billion to $5 billion that we face because of restrictions on sugar, wheat, rice, we should be able to meet last year’s export levels,” he stated.

Data from state-run commerce physique APEDA confirmed that exports of meat and dairy, cereal preparations, and fruit and veggies rose between April and November this 12 months.

(Reporting by Shivangi Acharya; Writing by Shivam Patel; Editing by Toby Chopra)

By Shivangi Acharya