INVC NEWS
Mumbai : These days, the dominance of Basmati rice, which is called the Queen of Rice, is increasing across the world. Compared to last year, this time Basmati export worth about Rs 6250 crore has increased, while the prices of Basmati are higher this year than before. Experts say that by March this year the export of Basmati rice may cross Rs 45 thousand crore. The demand for Indian Basmati is increasing in foreign markets. During the year 2022-23, the share of Basmati rice in total agri exports was 17.4 percent, which is expected to increase further this year.
Meanwhile, due to relatively weak consumer demand for Basmati rice in the months of January and February due to winter, its prices have declined. In Jaipur market, 1121 Golden Sela Basmati has declined by Rs 100 to 110, 1509 Golden Basmati by Rs 85 to 90 and 1401 Basmati by Rs 95 to 105 per kg by four to five rupees per kg. The demand for Basmati will start as soon as the cold subsides. Due to which the prices may rise again. 90 percent of the world’s rice is grown in Asia.
India’s share in the total export of rice in the world is about 40 percent. Basmati rice is exported from India to Iran, Saudi Arabia, UAE, Iraq, Yemen and America. According to Agricultural Processed Food Products Export Development Authority (APEDA), 35.43 lakh tonnes of Basmati rice has been exported from April to December of the current financial year 2023-24. This is 10.78 percent more than the Basmati rice exported in the same period last year.
