Basmati rice is a fragrant long grain rice that is cultivated in India and Pakistan. It has been produced for over 5,000 years, and is a popular ingredient in many cuisines around the world. This fragrant rice is used to make biryanis and pulaos, which are popular dishes in both countries. The grain can also be used for making desserts such as kheer (rice pudding), laddoo, halva and cookies.
Basmati variety of rice is produced more in India than any other country in the world, producing approximately 90% of the total global supply each year. Most of this product is exported to Iran, which has become one of the largest importers of Indian basmati rice since sanctions have been lifted.
Basmati Rice Exports from India to Iran
Iran is the second largest importer of organic basmati rice from India. It imported 841 tonnes of this rice worth USD 1.39 million in April, compared with 765 tonnes worth USD 1.13 million in the same month last year, according to data released by the Indian Ministry of Commerce and Industry.
In the 2019-20 fiscal, Iran was the second largest importer of Basmati rice from India after Pakistan with imports of 847 tonnes against imports of 793 tonnes in 2017-18 fiscal.
Basmati Rice Demand in Iran
Basmati rice is an aromatic long-grain rice that originated in the Indian subcontinent. It is considered to be one of the finest varieties of rice in the world and is cultivated mainly in India, Pakistan and Iran. The demand for this rice has been increasing at a steady rate over the past few years.
Iran is the third largest consumer of this rice accounting for 15% of global consumption. The consumption of this variety of rice has been rising steadily since 2009 due to its high nutritional value, low price, and availability in local markets. The consumption trend is expected to continue with an average annual growth rate of 4% during 2018-2022.
Market for Basmati Variety of Rice in Iran
This market in Iran is worth $1.2 billion, and it is expected to grow at a CAGR of 4.9% during 2020-2022. The increasing demand for high-quality and aromatic rice in the Asia Pacific region has led to the growth in demand for this grain globally as well. This has resulted in an increase in the production and consumption of the fragrant rice worldwide.
The price of this rice varies from country to country depending on the quality and grade of the product available in that particular region. It also depends on whether it is imported or locally produced. The average price per kilogram of this rice varies from $0.40-$0.60 per kilogram, with an average annual consumption rate of 18 kg per person per year globally.
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Basmati rice is a variety of long-grain rice that is grown in India and Pakistan. The word basmati means fragrant as it has a very distinct aroma when cooked properly. It has a light, fluffy texture accompanied by a nutty flavor, making it perfect for biryanis, pulaos, pilafs and curries with rich gravies or dals. The best part about this fragrant rice is that it cooks really fast – usually in 20 minutes or less!
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