Home / Markets / Commodities / Basmati prices up 5% during 21-day lockdown even as exports take a huge hit

Basmati prices up 5% during 21-day lockdown even as exports take a huge hit

Exporters, however, are a worried lot as Iran, the top market for Indian basmati, is among the most-affected by the Covid-19 pandemic

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Coronavirus has compounded the woes of basmati exporters, who were already reeling under the impact of the US-Iran standoff.

Virendra Singh Rawat Lucknow

3 min read Last Updated : Apr 09 2020 | 11:06 PM IST

The firming up of prices in the domestic market has offered some relief to basmati rice exporters, whose businesses have taken a big hit, with the 21-day lockdown suspending shipments to key destinations such as Iran and other gulf countries.

Prices in consuming centres have been rising even as traders at producing centres are sitting on unsold inventory. With exports facing headwinds, farmers foresee lower sowing in the next season leading to reduced crop supply and firmer prices.

Basmati prices have appreciated by nearly 5 per cent owing to higher transportation costs and firm market demand. Top selling pusa basmati

Topics : Coronavirus Lockdown Basmati Basmati rice Rice prices

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