Basmati rice exports increased by 15 percent in four months

09-Sep-2024 02:51 PM

New Delhi. Due to strong demand in countries like Saudi Arabia, Iran, Iraq and America, the export of Basmati rice from India increased to $ 2.036 billion during the first four months of the current financial year i.e. April-July 2024, which was 15 percent more than the export of $ 1.774 billion in the same period last year.

During the period under review, the export quantity of Basmati rice also increased by 19 percent to 19.17 lakh tonnes.

In April-July 2023, 16.09 lakh tonnes of Basmati rice was exported from the country. Its good demand remained intact abroad.

President of All India Rice Exporters Association (AREA) There is a good increase in the export of Basmati rice in the traditional importing countries of West Asia as well as America.

The Chairman once again urged the government to withdraw the minimum export price (MAP) of $ 950 per tonne applicable for Basmati rice, saying that its supply and availability in the country remains smooth.

During the period under review, Saudi Arabia remained the biggest buyer of Indian Basmati rice. In April-July 2023, it had imported 3.03 lakh tonnes of rice from India, which increased by about 26 percent to 3.81 lakh tonnes in the same months of 2024.

As a result, the export earnings there also increased by 19 percent from $ 353.15 million to $ 421.76 million. Iran remained at number two.

There, the export volume of Basmati rice from India increased by 6 percent from 3.33 lakh tonnes to 3.55 lakh tonnes and the export earnings improved by 4 percent from $ 385.88 million to $ 349 million.

Iran has now banned the import of Basmati rice for three months, which is likely to remain in place till the end of October. This means that now the import of Basmati rice will resume only from November 2024.