India’s rice exports fell nearly 60% in April-May 2025 due to weak global demand and high inventories among buyers. Prices have dropped to multi-year lows, with 5% broken white rice hitting a five-year low of $384/tonne.
Despite lifting export curbs in late 2024, the global rice market remains oversupplied, depressing prices. Surplus production and record stockpiles have further pressured the market, and buyers, including key importers such as Bangladesh, have slowed their purchases.
The Food Corporation of India’s large stocks and discounted sales may have signaled oversupply. Analysts now believe the USDA’s 24 million tonne export projection may be missed, and India’s annual export target of 24 million tonnes appears unlikely to be met.
