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Cereals are regarded as the staple diet of
India. As far as the place cereals hold in the commodities exchange, it is
generally regarded amongst the prime. This is because India is largely an
agricultural country and apart from the local produce, it is one of the largest
exporters of rice and wheat to the world. In commodities when one talks of
cereals it refers to:
-Wheat
-Maize
-Rice – The various types being:
-Basmati
-General rice
-Sarbati rice
Wheat is in fact the most consumed cereal grain in the world, as it is the basic
ingredient of all baked products. In recent years the world produces between 560
and 580 Million tons, annually. India is placed amongst the four largest wheat
producers in the world, the others being China, USA and European Union (EU).
India also finds a distinctive place amongst the largest wheat consumers in the
world, which also includes countries such as EU, China, Russia, USA and
Pakistan.
India’s annual wheat production averages between 65 and 75 Million, which
amounts to approximately 35 percent of the country’s entire food grain
production being 210-212 million tons.
Basmati Rice, known as the 'King of Rice' is the gift of India and Pakistan to
the World.
Basmati rice is priced for its characteristic long-grain, subtle aroma and
delicious taste.
The grain elongates on cooking giving it a characteristic grain shape and
integrity.
Basmati rice can be equated with "champagne" among wines and 'scotch' among
whiskies
Indian Scenario
Maize is a cereal grain that actually originated in the United States of
America. It is in fact regarded as the prime cereal grain, globally, as 33.3 per
cent of this grain provides nutrition to humans, and the remaining 66.6 per cent
is nutritional fodder for animals. It is used as one of the essential raw
materials to produce:
Starch
Oil
Proteins
Food sweeteners
Fuel
India is amongst the seven largest maize producing nations, the others being:
-United States of America
-China
-European Union (EU)
-Brazil
-Mexico
-Argentina
The country’s maize production ranges from 10 to 14 Million tons, annually.
Amongst all the rice-types produced, India is considered world’s principal
producer and exporter of what is known as ‘basmati rice’. The country produces,
annually, on an average 10-15 Lakh tons, of this about two-thirds is exported
around the world and the remaining is consumed domestically. Apart from this,
the country produces a variety of other types of rice.
There are certain factors that affect the price of cereals in the commodities
market. These include:
-Substitute products that are made available
-Seasonal cycle
-Technology and development
-Natural calamities:
-Typhoon
-Floods
-Droughts
-Earthquake
-Weather:
-Temperature
-Rainfall
-Soil moisture
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