Basmati Rice

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Exporters welcomed India's decision to make APEDA registration mandatory for non-basmati rice exports, saying it will aid transparency with minimal cost impact on trade

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Iran is one of the top buyers of Indian basmati rice; traders warn exports may take a hit if the Israel conflict continues and diplomatic tensions escalate

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All India Rice Exporters Association President (AIREA) Satish Goel on Friday ruled out any impact on Basmati trade, stressing that the recent increase in prices of the commodity is owing to higher demand and not due to the ongoing India-Pakistan tensions. The export price of Basmati rice varieties --1509 and 1718 -- have inched up slightly since March due to rise in demand and not due to supply disruptions caused due to ongoing military escalations between the two nations, he said. "Not due to ongoing India-Pakistan tensions, the Basmati prices have gone up recently. Prices rose slightly because of higher demand from Saudi Arabia, Iran and Iraq," Goel told PTI. The trade has not been affected so far and the orders are being fulfilled smoothly, he added. AIREA former president Vijay Sethia said in September 2024, Basmati rice, particularly the 1509 variety, were ruling high at Rs 62 per kg. Thereafter, prices dropped mainly due to a bumper crop arrival. Large arrivals of 1509 paddy

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The Centre lifted the ban on the export of non-basmati white rice on Friday with immediate effect, according to a notification. In July 2023, the government imposed the ban to ensure the domestic supply of rice and keep prices under control. Exporters hailed the decision, dubbing it a "game-changer" for the sector. "India's bold decision to lift restrictions on non-basmati white rice exports is a game-changer for the agricultural sector," said Rice Villa CEO Suraj Agarwal. "This strategic move will not only boost the income of exporters but also empower farmers, who can expect higher returns with the impending arrival of the new kharif crop," he said. The government has also reduced the export duty on parboiled rice to 10 per cent from 20 per cent, the notification said. Another rice exporter, Keshab Kr Halder of Halder Group who was seeking immediate removal of the ban lauded the government's move.

India and Pakistan are the only growers of premium-grade basmati rice, and the Indian restrictions helped Pakistan gain market share in some categories

India and Pakistan, the only growers of basmati, both try to promote the premium grade of rice in a manner similar to French Champagne or Darjeeling tea

World's biggest rice exporter imposed various curbs on exports in July last year and continued them in 2024 in an effort to keep local prices in check ahead of the general elections held in April-May

New Delhi is expected to lower the basmati rice's minimum export price (MEP) to $800-$850 a metric ton, down from $950 a ton, to boost shipments

Ministers to review rice export restrictions amid rising central pool stocks and growing ethanol demand as non-basmati traders hit hardest since curbs began in August 2023

KRBL mainly sells packaged basmati rice domestically and in the export market, with 'India Gate' being its flagship brand

India's share is about 2.5 per cent in global exports, and the government wants to increase it to about 4-5 per cent over the next few years

The government has permitted exports of 30,000 tonne of non-basmati white rice to Tanzania and 80,000 tonne of broken rice to Djibouti and Guinea Bissau. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) has said in a notification. Though exports of non-basmati white rice have been banned since July 20, 2023 to boost domestic supply, exports are allowed on the basis of permission granted by the government to certain countries to meet their food security needs on request. Tanzania is an East African nation, while Djibouti is at the northeast coast of the African continent. Guinea-Bissau is a tropical country in West Africa. According to the notification, exports of 30,000 tonne of broken rice are allowed to Djibouti and 50,000 tonne to Guinea Bissau. India has earlier also allowed these exports to countries like Nepal, Cameroon, Cote D' Ivore, Guinea, Malaysia, Philippines, and Seychelles. NCEL is a multi-

Basmati rice shipments helped the world's biggest rice exporter to garner a record $5.4 billion in 2023, up nearly 21% from the previous year, because of higher prices, government data showed

Data shows that though initially non-basmati rice exports remained unaffected but it started dropping soon thereafter