Krishi VaartaOutlook Agriculture
Basmati rice exports expected to fall by 15%
Basmati rice exports are expected to decline by 12 to 15% in the current financial year due to lack of import demand from Iran. This has a direct effect on the farmers of Basmati paddy. The price of Pusa Basmati Paddy 1,121 was reduced to Rs. 2,750 to Rs. 2,800 per quintal in the producing mandis, compared to Rs. 3,150 to Rs. 3,200 per quintal last year.
A senior APEDA official said that Iran is the largest importer of Indian basmati rice and about 1,500 crore rupees are already stranded by Indian exporters in Iran, so even exporters are not doing new export deals. He said that during the first half April to September of the current financial year 2019-20, the export of basmati rice decreased by 11.33% to the total exports of 18.70 lakh tonnes as against 20.82 lakh tonnes in the same period of the last financial year._x000D_
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