Basmati rice export may hit a record level of Rs 30,000 cr this season

However, the export volume is only marginally higher at 2 per cent

Basmati rice export is projected to hit a record level of Rs 30,000 crore or nearly $4.28 billion (at Rs 70 a dollar) this season. In addition, shippers are getting a higher realisation vis-à-vis their procurement cost.

The largest exported variety, Pusa 1121, saw an average procurement price of Rs 35,000-38,000 a tonne in the current 2018-19 season, about 8.5 per cent higher than the Rs 33,000-35,000 a tonne in 2017-18. However, export realisation at Rs 74,000 a tonne in the first 10 months of this financial year (April 2018 to January 2019) was 14 per cent more than the Rs