Rice is an emotion more than just a portion of food on the plates. By far, it is considered to be the staple food of the majority of the world’s population and is the most important crop, especially in the Asian region. Nearly 90% of the world’s rice production is concentrated in Asian countries of which India is the second largest producer of rice next to China. However, India has surpassed China by being the largest exporter of rice, and also India is the top producer and exporter of quality idli rice across the globe. Rice is a very humble crop rich in vitamins, minerals, dietary fiber, and all nutrients essential for living. In addition to being rich in nutrients, it is filling, easy to prepare, and available at an approachable cost for everyone. Rice being available at an economical cost and higher in production it is indeed an imperative contributor to the country’s food security. The rice industries play a major role in enhancing the crop’s production and export and harnessing rice as the savior staple food.
To retain food security and enhance the economy, the government provides immense support to the rice-producing farmers and rice mills/industries by providing irrigation facilities, organic and production boosting fertilizers, high quality fertile seeds, releasing funds, and supporting with advanced machinery. The duty lies with the farmers to adapt to the smarter technologies and seek governmental support in enhancing their crop productivity. The rice industries also play a vital role in educating the cultivators about the use of the right agricultural methodologies with the least use of resources in an economical and environmentally friendly way. The rice industries can add to the farmer’s growth and theirs as well by implementing advanced infrastructures for milling and packaging that aid in quality rice production and export adding to the economy.
Although several factors support the growth of rice production and rice industries, natural factors like unfavorable monsoon situations, rising number of rice processing companies, high duty levies on exports, an unforeseen ban on the export of rice, and such others majorly impact the growth of rice industries. The government also continually takes steps to aid farmers, maintain food security, and support rice industries with the introduction of advanced technologies, rice fortification, and such others. Agriculture is the backbone of our nation and rice being a staple food of the majority, the future of rice industries is expected to grow continually contributing to global food security. Based on the in-depth market analysis that employs the use of SWOT analysis, Porter’s five force model, and company profiling, the outlook of rice industries seems optimistic for a foreseeable future.