Increase in export of Basmati rice continues
25-Sep-2024 11:16 AM
New Delhi. Like last year, during the current financial year, a tremendous increase is being seen in the export of Basmati rice from the country.
There is a good demand for Indian Basmati rice in Saudi Arabia, Iraq, United Arab Emirates (UAE), Qatar, Oman, Kuwait, Jordan, America, member countries of European Union and England etc.
Although a major buyer country- Iran had banned the import of rice for three months in August, which will remain in place till the end of October, but after that, the import of Basmati rice from India is also expected to increase rapidly there.
Earlier, during April-July, Iran imported a good amount of Basmati rice from India. Data from the government body Agricultural and Processed Food Products Export Development Authority (APEDA) shows that in the first four months of the current financial year i.e. April-July 2024, exports of Basmati rice from India increased to over 19 lakh tonnes, which was about 20 percent more than the shipments of the same period last year.
This spectacular increase in the export of Basmati rice despite the implementation of Minimum Export Price (MAP) is a very pleasant thing.
During the entire period (April-March) of the financial year 2023-24, the total export of Basmati rice from the country jumped to a new record level of 52.40 lakh tonnes, while MAP came into force for it from August 2023 itself.
During the last financial year, there was a good increase in the export of Basmati rice from India to countries like Canada, Iraq, Oman, Saudi Arabia and England, while its export performance to Iran was somewhat weak.
During the current year, due to increase in the area under Basmati rice and favorable weather and monsoon conditions, the production of Basmati rice is expected to increase by 10-12 percent, while the government has also removed its map.
As a result, the trend of tremendous increase in the export of Basmati rice from India is expected to continue in the coming months. India remains the largest exporter and second largest producer of rice in the world.