Krishi VaartaOutlook Agriculture
Drop in Basmati Rice Exports in FY 2018-19
In the first eight months of the current financial year 2018-19, exports of basmati rice have declined, from April to November. A senior official in the Agriculture and Processed Food Products Export Development Authority (APEDA) said that 5.25 per cent deficit decreased to 24.90 lakh tonnes over that period. During the same period last financial year, 26.28 lakh tonnes were exported. Rupee exports are constantly decreasing compared to the dollar and total exports are expected to be less than 40.51 lakh tonnes during the current financial year.
However, in the first eight months of the current financial year, exports have increased to Rs. 18,440 crore by value, compared to Rs. 16,871 crore in the same period in the last fiscal year 2017-18. According to Anil Kumar Mittal, Chairman and Managing Director of the exporter firm, KRBL Limited, in December, the rupee increased about six per cent against the dollar, which has reduced the number of export deals this time. He said that further export of basmati rice will come up in the export, but total exports are expected to fall by two to three lakh tonnes from 40.51 lakh tonnes of the last financial year 2017-18.
Source - Outlook Agriculture, 4 January 2019