NEW DELHI, Dec 21 Reuters India39;s exports face a shortfall of about 4 billion to 5 billion this year after it clamped curbs on trade in wheat, rice and sugar, a person familiar with the matter said on Thursday, adding that Red Sea attacks may also hit basmati rice shipments.
The world39;s secondlargest producer of wheat, rice and sugar, India has restricted exports of these commodities to rein in rising domestic prices.
New Delhi may consider an alternate route along Africa for shipments of basmati rice if attacks by Yemen39;s Houthi group persist, which could lift prices by about 15 to 20, the source added.
The alternate route may also affect India39;s exports of the longgrain rice to Egypt and Europe, said the source, who spoke on condition of anonymity, as he was not authorised to speak on the matter.
However, India expects growth in exports of other farm commodities to offset the export deficit this year, said Rajesh Agarwal, an additional secretary in the trade ministry.
If we remove agricultural commodities whose exports are controlled, like wheat and rice, exports are growing by over 4, Agarwal told 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 year39;s export levels, he said.
Data from staterun trade body APEDA showed that exports of meat and dairy, cereal preparations, and fruits and vegetables rose between April and November this year….