Basmati exports jump 37% in first half of FY23

Chandigarh,

India’s basmati exports have increased owing to high demand and rise in prices of commodities globally after the Russia-Ukraine war. The exports increased by 37.34% in six months of the current fiscal to $2, 280 million (Rs 17,897 crore). Also, the per-unit value realisation rose to $1,057 a tonne compared to $853 a tonne in the last fiscal.

According to Agricultural and Processed Food Products Export Development Authority (APEDA), basmati shipments increased to 21.57 lakh tonne during April-September (FY23) as compared to 19.45 lakh tonne during the corresponding period last year. The rise in exports has also resulted in increased earnings for farmers of Punjab and Haryana as they account for over 70-75% of basmati exports from the country.

Oil-producing countries are major basmati importers. Countries such as Saudi Arabia, Iran, Iraq, Yemen, the UAE, the US, the UK, Kuwait, Qatar and Oman had a share of almost 80% in total basmati shipments from India in 2021-22.

“The increase in demand is mainly because of increased exports to Iran, which is a major buyer for Indian basmati,” said Vijay Setia, former vice-president, All India Rice Exporters Association.

Date: 10-Nov-2022
https://www.tribuneindia.com/news/business/basmati-exports-jump-37-in-first-half-of-fy23-449504