Basmati rice exports jump to new record level in first half
06-Aug-2024 12:42 PM
New Delhi. Due to strong demand from countries like Saudi Arabia, Iraq, Yemen, United Arab Emirates (UAE) and USA, the export of Basmati rice from India jumped to a new record level of 31.50 lakh tonnes during the first half of the current calendar year i.e. January June 2024,
which was 6.10 lakh tonnes or 27.3 percent more than the shipment of 25.40 lakh tonnes in the same period of the year 2023. Earlier, a record export of 29 lakh tonnes of Basmati rice was made in the first half of the year 2020, while the export of 2024 was 2.50 lakh tonnes more than that.
The export performance of June 2024 was also better when the shipment of Basmati rice increased to 4,81,694 tonnes. This quantity was about 41 percent more than the export of June 2023 and 3.3 percent more than the shipment of May 2024.
Not only this, but the highest export of Basmati rice was made in the month of June 2024 after the year 2010. In June, there was a high demand for it in Iran,
United Arab Emirates and America. In comparison, 3,41,800 tonnes of Basmati rice was exported from the country in June 2023.
During the first half of the current year, as compared to the same period last year, export of Basmati rice from India to Saudi Arabia increased by 23 percent to 7.20 lakh tonnes, to Iraq jumped 38 percent to 5.31 lakh tonnes, to Yemen increased by 34 percent to 1.87 lakh tonnes,
to America increased by 25 percent to 1.27 lakh tonnes and to the United Arab Emirates increased by 19 percent to 1.80 lakh tonnes. On the other hand, exports to Iran fell by 7.2 percent and got stuck at 4.08 lakh tonnes.
During January-June 2024, India's contribution in the total global export of Basmati rice was 87.4 percent while the remaining share was of Pakistan.
The exportable surplus stock of Basmati rice in Pakistan has become negligible while the next Ne Amal will come in November.
Meanwhile, India will get a great opportunity to increase its Basmati rice exports. India got a great income of $ 3.42 billion from the export of Basmati rice during the first half, which was about 20 percent more than last year's income of $ 2.75 billion.