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Current Situation of Basmati Rice Trading Market
The rising hostilities between Iran and the USA dampen the Basmati Rice Trading in Islamic countries like Saudi Arabia, Iran, Iraq, Kuwait, and Yemen.
In the current financial year, the rising tension between Iran and the USA slows down the export growth of rice in the global market. During the financial year 2018 to 2019, Basmati exports growth worth 32,806 Crores. But it seems to be difficult to reach the figure of the current fiscal year because of the halted rice import from Iran.
The global availability of Basmati Rice has increased to 67.10 million tons in the financial year 2019 to 2020.
At present, the rising tension between Iran and the USA would hit the export value of the premium quality of rice. Instead of that, in the current fiscal month of January 2020, Basmati Paddy Prices are again recovered by 2 percent. The price of Basmati has increased in the global market too in the current harvesting season, according to the Indian Commodity exchange.
The Demand of Basmati Rice Market
- The business of agricultural commodities like Basmati Rice is unquestionably dominated by the import/export of rice businesses in India, which over the years and around the globe has been expanding in the last few decades.
- As India is the world’s largest producer of high-quality basmati and non-basmati rice, therefore, a large volume of rice has been exported to the world every year. A good chunk of the particular Rice Exporters in India have a great share in the world market.
- With the increasing demand for the rice globally due to its elongation and aroma, the export volumes are also increasing from India day by day. This factor is enhancing the production capacity of rice in India which will turn increasing a large share rice export market worldwide.
Major Key Players in the Indian Market
Basmati Rice Market can be divided into two segments. One is Indian Rice Market and the other one is the Pakistani Basmati Rice market. The major manufacturers of the rice in the world market are India, Pakistan, and Kenya. The major key players of the rice in the world market are:
Basmati Rice Manufacturers From India takes special attention to the world’s market due to its high premium quality and elongation. The elongation nature of Basmati Rice is famous worldwide due to its aging processes.
Daawat Rice is one of the best exclusive Basmati Rice for making biryani in the festivals like Eid-ul-Fitr. Eid-ul-Fitr is the festival of “Breaking the fast” in the Ramadan month which is celebrated in all the states of India. Biryani is one of the richest dishes in India that flavors to enjoy the festivals with loads of happiness and joy.