Despite the removal of MAP on rice, there is no increase in the price of Basmati rice.

14-Oct-2024 12:25 PM

New Delhi. The Central Government has abolished the requirement of minimum export price (MAP) of $ 950 per tonne for Basmati rice with the aim of successfully facing the competition of Pakistan in the international export market and ensuring a high price for the produce (paddy) to the indigenous farmers.

But still, there is almost stability in the prices of Pusa 1509 Basmati rice and its price is much lower than last year. According to the producers, the wholesale market price of 1509 Basmati rice was 3500/3600 rupees per quintal last year, which has come down to 2600/2700 rupees per quintal in the current season.

Due to this, the farmers of Punjab, Haryana and Western Uttar Pradesh, which are its major producing areas, are facing huge losses.

The producers say that the announcement of removal of MAP for Basmati rice has not yet seen any positive effect on the wholesale markets of paddy.

Millers and exporters have lost interest in buying Basmati rice as the Iran-Israel dispute is likely to affect the export of Basmati rice.

Iran has warned countries like Saudi Arabia and United Arab Emirates not to get embroiled in this dispute and not to help Israel.

This has made the matter serious there. Jeddah is a major port of Saudi Arabia which is located near the border of Yemen and Yemen is currently with Iran.

The danger has increased there due to which Indian exporters are also worried. Saudi Arabia is the leading importer of Indian Basmati rice while the United Arab Emirates also imports it in good quantity from India.

Exporters say that until the situation in West Asia becomes normal, doubts will remain on the export of Basmati rice from India and the purchase and sale of Basmati rice in the domestic sector will continue to be affected. Due to this, it seems difficult for prices to rise.