BIRC 2026: Massive Rs 50,000 Crore Business Surge as Global Buyers Eye Indian Rice
The Bharat International Rice Conference 2026 sees massive global interest, generating an estimated Rs 50,000 crore in business deals.
The Bharat International Rice Conference (BIRC) 2026 has concluded on a high note, sparking a massive wave of commercial activity. According to Prem Garg, President of the Indian Rice Exporters Federation (IREF), the three-day event in New Delhi has generated an estimated business value of Rs 50,000 crore, reflecting a surge in international appetite for Indian rice.
Global Demand and Blockbuster Deals
Speaking on the sidelines of the conference, Prem Garg revealed that the scale of transactions has exceeded initial expectations. While a final confirmed figure is still pending—as some participants have not yet disclosed their specific deal values—the estimated impact is staggering.
To illustrate the magnitude of the negotiations, Garg pointed to a single contract involving approximately 100,000 tonnes of basmati rice. With a price tag of roughly USD 1,200 per tonne (including cost, insurance, and freight), this individual deal alone is valued at approximately USD 120 million.
The Iraq Connection and Logistics Breakthroughs
The conference highlighted a particularly strong demand from overseas markets, with Iraq emerging as a key destination for Indian basmati rice. Beyond demand, the competitiveness of Indian exports is being bolstered by smarter shipping strategies.
Garg noted a significant drop in logistics costs through a shift in transport methods. By moving from container shipping to larger vessels, freight costs have plummeted from around USD 300 per tonne to approximately USD 100 per tonne. This efficiency has streamlined the supply chain, allowing shipments to reach Iraq's Umm Qasr port from India in just seven days.
Production Outlook: No Major Decline
Addressing concerns regarding India's domestic rice output, the IREF President dismissed the idea of a major production crash. While last year's production stood at 154 million tonnes, Garg estimates this year's crop size will remain robust at around 149-150 million tonnes.
"This crop size is not going to be small," Garg asserted, reassuring stakeholders about the stability of the domestic supply.
Price Volatility and Geopolitical Tensions
The conference also touched upon the recent spike in international rice prices. Garg attributed this trend to geopolitical instability and food security anxieties rather than a genuine shortage of grain.
- Geopolitical Disruptions: Tensions in the Red Sea and the Strait of Hormuz have contributed to higher costs.
- Climate Concerns: Worries over El Nino have prompted importing nations to aggressively stockpile rice.
Despite the current high prices, the IREF President expects a market correction soon. He maintained that there is no global rice shortage and affirmed that India will continue to export substantial quantities to the world market.
The Bharat International Rice Conference 2026, held from October 23 to 25, served as a critical junction for Indian exporters, global buyers, and trade stakeholders to shape the future of the international rice trade.