Krishi VaartaOutlook Agriculture
Basmati rice demand decreased from Iran and Saudi
The arrival of a new crop of basmati paddy has started in the mandis of producing states, but demand for basmati rice from Iran and Saudi Arabia is less. This will affect basmati paddy prices.
A senior APEDA official said that the money of India's rice exporters in Iran is still stuck, due to which Indian exporters are also not doing new export deals. However, import demand for Iran in October remains low.
He said that during the first five months of the current financial year 2019-20, April to August, basmati rice exports declined by 10.27%. The total exports have been only 16.6 lakh tonnes. In the same period of last financial year, 18.5 lakh tonnes were exported. However, domestic demand for basmati rice is increasing. Paddy production is estimated to be very high in the current season.
Iran is the largest importer of Indian basmati rice. According to APEDA, in FY 2018-19, Iran imported 14.83 lakh tonnes of basmati rice from India worth Rs 10,790 crore. The total exports of basmati rice from the country in the financial year 2018-19 was Rs 32,804 crore of 44.14 lakh tonnes.
Source - Outlook Agriculture
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