Exports of Basmati rice expected to increase after MAP is removed

18-Sep-2024 12:43 PM

New Delhi. After the Central Government removed the minimum export price (MAP) of 950 dollars per tonne for Basmati rice, the export of this premium quality aromatic rice is expected to increase from the country.

Last year, farmers received a high and attractive price for Basmati rice, due to which its area increased in the Kharif season this year.

Not only this, but due to favorable weather and monsoon conditions, there is a possibility of improvement in the yield rate and quality as well. As a result, a huge increase of 15-20 percent in production is expected.

The exportable stock of Basmati rice is likely to increase, while exporters will not have any difficulty in facing the challenge and competition of Pakistan in the global market.

The government has decided to remove MAP at the right time because from next month, a strong arrival of new consignment of Basmati rice is going to start. It is expected that farmers will get a profitable price for Basmati rice this time too.

Basmati rice is exported from India mainly to West Asia, Gulf region and European Union countries and America. In the Gulf region, countries like Saudi Arabia, Iran, Iraq, United Arab Emirates, Yemen, Kuwait, Bahrain and Oman are the major buyers of Indian Basmati rice.

Earlier, Pakistani exporters were trying to increase the export of their Basmati rice by reducing the price, but now Indian exporters can also do the same.

Despite MAP, the export of Basmati rice from India increased to a new record level of above 52 lakh tonnes in the financial year 2023-24 and the situation is looking better in the current financial year as well.