BIRC 2026: Rice Trade MoUs Set to Cross Rs 50,000 Crore Mark
IREF expects MoUs worth over Rs 50,000 crore at the Bharat International Rice Conference 2026 amid global production concerns.
The Bharat International Rice Conference (BIRC) 2026 has kicked off at Bharat Mandapam in New Delhi, with the Indian Rice Exporters' Federation (IREF) projecting a massive surge in business commitments. The federation expects the value of memorandums of understanding (MoUs) signed during the event to exceed Rs 50,000 crore, marking a significant jump from the previous year.
Ambitious Targets for Global Trade
Speaking in an exclusive conversation with ANI, Dev Garg, Vice President of IREF, expressed strong confidence in the scale of this year's agreements. He noted that while the previous edition saw MoUs worth Rs 32,000 crore, the current trajectory suggests a much higher figure.
"I'm quite sure that this year that figure will cross more than 50,000 crores," Garg stated, adding that the final tally will be determined by the conclusion of the three-day event.
To facilitate these high-value deals, the conference has organized over 2,000 B2B meetings. These interactions are being meticulously recorded to track feedback and ensure the effectiveness of the networking sessions.
Massive Global Participation
The scale of BIRC 2026 is reflected in its registration numbers. The event has attracted 32,467 registrations, which includes 4,856 international buyers hailing from 153 different countries. Interestingly, the domestic participation is also widespread, with over 92 per cent of the Indian attendees traveling from outside Delhi to attend the summit.
The primary objectives of the conference include:
- Helping Indian rice exporters penetrate and explore new international markets.
- Analyzing the global rice price outlook leading into 2027.
- Identifying strategic opportunities to enhance returns for all stakeholders in the industry.
Industry Headwinds: Production Drops and Logistics
Despite the optimistic trade figures, the rice industry is grappling with several critical challenges. A primary concern is the projected decline in global rice production. According to estimates from the United States Department of Agriculture (USDA), global production is expected to drop from 545 million metric tons to 533 million metric tons—a decrease of nearly 12 million tons.
Of this global decline, India could potentially account for 7 million tonnes, a projection that Dev Garg described as a major concern for the sector's paddy crop.
Additional Pressures on Exporters
Beyond production woes, the industry is facing a volatile external environment:
- Shipping Disruptions: The crisis in West Asia has severely impacted shipping routes.
- Cost Escalation: Rising fuel prices are adding to the overheads of transporting goods.
- Policy Shifts: Exporters are navigating tougher import policies, including increased tariffs and new restrictions imposed by various countries.
Looking Ahead
The three-day event features nine dedicated knowledge sessions designed to tackle these pressing issues. Industry leaders and participants are using these forums to decode the future of international rice prices and export demand.
While the hurdles are significant, the IREF remains bullish on the sector's trajectory. Dev Garg emphasized that despite the current headwinds, the industry maintains a "bright future ahead."