Spurt in domestic, export demand pushes basmati price by 10% in a month

Demand shot up sharply since start of Unlock 1.0 as Stockists rushed to fill their pipelines amid uncertainty in market operations over exploding number of Covid-19 cases

Basmati rice has become costlier by 10 per cent in June due to sudden spurt in demand from both domestic households and overseas markets post 70-day nationwide lockdown in India and and in other major countries to control pandemic.

The aromatic rice is currently quoted at $1,000-1,200 a tonne now from $900-1,100 a tonne towards the end of May. The value differs based on quality and brand.

Supply to domestic consumers and exports was interrupted due to transport disruptions during the nationwide lockdown. While the disruption was gradually eased with policy clarity emerging, the pipeline inventory exhausted during this period.

“Prices of basmati