New Delhi, Apr 27 (KNN) Exports of high-quality basmati rice from India grew robustly during the April 2023 to February 2024 period, driven by strong demand primarily from West Asia.

According to data from the Indian government's commerce department, basmati rice exports increased by 22 per cent in value terms to USD 5.2 billion compared to the same period a year ago.

In volume terms, exports of the premium rice variety rose 14 per cent to 4.68 million metric tonnes between April 2023 and February 2024, up from 4.1 million metric tonnes in the corresponding previous period.

The surge in exports comes amid measures taken by the Indian government to boost domestic supply and control inflation. In July 2023, authorities banned exports of non-basmati white rice. 

A month later, a minimum export price was imposed on basmati rice shipments to restrict possible illegal exports of non-basmati white rice disguised as premium basmati.

While there were concerns that the floor price could shift the global basmati market towards India's closest competitor Pakistan, government officials stated that India's exports remained unaffected despite growth in Pakistani basmati exports as well.

"Our largest markets include West Asia, the Gulf Cooperation Council, Europe, North and South America. The Red Sea crisis has impacted our European exports somewhat," a government official commented.

West Asia accounts for more than three-fourths of India's total basmati rice exports. Iran, Iraq, Saudi Arabia, the United States and the United Arab Emirates are India's top five export destinations for the aromatic long-grain rice variety.

The number of countries importing Indian basmati also expanded to 149 during April to December 2023, up from 140 nations in the same period a year ago, highlighting its growing international appeal.

(KNN Bureau)