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Basmati overtakes buffalo meat as top export commodity

Export of buffalo meat was affected by a short-lived ban on sales of cattle at mandis

Dilip Kumar Jha  |  Mumbai 

Branded basmati sales to touch 2.9 mt

has regained the tag of top commodity export from India, overtaking in the June quarter.

Since 2014-15, had surpassed as India’s top export commodity because of suspension of fresh orders by Iran, which consumes nearly a fourth of India’s aromatic rice exports.

Iranian traders suspend fresh orders for during the harvesting of the country’s rice crop. This year, however, they continued imports of In contrast, export of was affected by a short-lived on sales of cattle at mandis.

According to the the Agricultural & Processed Food Products Export Development Authority (Apeda) estimates, India exported worth $1.26 billion (Rs 8,168 crore) between April and June, up from $934 million (Rs 6,196 crore) in the same quarter a year ago. 

exports were $849 million (Rs 5,473 crore) during the quarter against $823 million (Rs 5,445 crore) in the same period last year.

“Indian exporters used to execute orders on “documents against acceptance”, which was stopped by the government because overseas buyers’ re-negotiated terms after shipments reached them. So there were corrections in export of over the last few years. Now overseas buyers are purchasing commodities on spot cash,” said an official.

"Iranian buyers have continued their purchases even during their own rice harvesting season. That has resulted in an increase in exports in April-June,” he added.

Exports of rose to 1.26 million tonnes in April-June from 1.18 million tonnes in the corresponding quarter a year ago. 

The average from jumped 28 per cent to $1,009 a tonne this year from $787 a tonne last year.

Exports of declined to 279,409 tonnes in April-June from 280,869 tonnes in the corresponding quarter last year. Average increased by 3.75 per cent to $3,039 this year from $2,929 last year.

exporters faced supply problems due to the Centre’s on animal sales, which was stayed by the after a few weeks. 

Overseas buyers are hesitant to place orders for Indian because of the changes. “The growth of India’s exports depends upon consistency in government policy,” said Bushran Zakariya, director, Zakariya Agro, a Kanpur-based exporter.

basmati, buffalo

First Published: Tue, August 22 2017. 01:46 IST