India's rice export on the rise! KRBL Ltd, LT Foods and Chaman Lal Setia shares to benefit the most, says this analyst
Rice export 2021: After reports surfaced suggesting likley exclusive GI tag for Indian Basmati rice by European Union, there is more devleopments in this agro-commodity space
Rice export 2021: After reports surfaced suggesting likley exclusive GI tag for Indian Basmati rice by European Union, there is more devleopments in this agro-commodity space. In another good news for this sector, rice export figures that have come up so far are very encouraging. As per Zee Busines research analyst Ashish Chaturvedi, Indian currently has around 45 per cent of market share of rice export worldwide, highest by volume.
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"Last year, the growth in rice export also saw good jump of 49 per cent as compared to 2019. It is expected that this year too, there will be signifciant rise in rice exports. Earlier, India used to mostly exports its rice to gulf countries, however, now it has added two more countries—Bangladesh and China—from this year. Both of these countries are importing good volume of rice from India," said Chaturvedi.
Basati rice is witnessing good demand with the world economies opening up amid Covid 19 pandemic, he said. Also, long basmati rice demand is expected to be doubled. "This, however, will benefit the entire sector," he said.
The research analyst said India's poor logistics as compared to other rice exporting countries will only pose some problem. "If the country manages to improve infracstructure, it could be a game changer for this space," Chaturvedi opined.
2021 में चावल का रिकॉर्ड एक्सपोर्ट !
क्यों फोकस में है चावल कंपनियों के शेयर?
क्यों आई चावल एक्सपोर्ट में रिकॉर्ड तोड तेजी?
क्या नॉन-बासमती चावल इस साल दोगुनी ग्रोथ करेंगे?
— Zee Business (@ZeeBusiness) September 17, 2021
Further, talking about shares that could benefit from surge in rice export, he said three stocks—KRBL Ltd, LT Foods and Chaman Lal Setia — will benefit the maximum.
Zee Business Managing Editor Anil Singhvi said as the rice exports are showing upswing, the investors should keep eye on rice-specific stocks.
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