India is the largest producer of Basmati rice in the world and many countries around the world import basmati rice from India. Basmati rice is a fragrant long grain rice that comes from the Indo-Gangetic plains of India and Pakistan. Basmati is considered to be one of the most popular varieties of rice because of its ability to absorb flavors from other ingredients and retain its own flavor. Basmati is mainly used for making Indian dishes like biryanis, pulaos and curries.
Importing Rice from India
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Basmati Rice Imports from India to Yemen Data
Yemen is an important market for Basmati rice imports from India. It is the fourth largest importer of Indian Basmati rice after Saudi Arabia, UAE and Iran. In the year 2017-18, Yemen imported 8% of total Basmati rice exports from India. YOY (year-on-year) growth in Basmati rice imports from India to Yemen declined from 40% in 2016-17 to 3% in 2017-18. This decline was mainly due to increased competition from Pakistan and Bangladesh in this market. However, this was partly offset by higher demand for premium quality Basmati rice in Yemen.
In 2018-19, Basmati rice imports from India to Yemen amounted to USD 741 million which was higher by 18% on a YoY basis as compared with USD 645 million recorded in 2017-18. The share of Basmati rice imports from India accounted for about 4% of total imports by Yemen (USD 2 billion). During 2017-18, the average prices of Indian Basmati varieties exported to Yemen were lower than those exported during 2016-17 mainly due to increase in supply from other countries such as Pakistan and Bangladesh which resulted in an oversupply situation.
Basmati Rice Demand In Yemen
The demand for Basmati rice has increased in Yemen due to its health benefits and unique taste. It is also used in the preparation of food items like biryani, kheer and other desserts. The demand for basmati rice in Yemen is increasing due to the rise in population and changing food habits of people. The health benefits associated with this rice make it more appealing to consumers. The rising number of hospitals and medical centers has led to an increase in the sale of basmati rice in Yemen.
The government has taken steps to ensure that the availability of Basmati Rice is increased because it is an important part of their diet. Basmati Rice is not only used as a staple food but also as a delicacy by many families across the country.
Basmati Rice Market of Yemen
The Basmati Rice Market of Yemen is expected to grow at a CAGR of more than 10% during the forecast period, according to a new study by IndustryARC.
The report “Basmati Rice: Market Outlook in Yemen 2019-2025” provides insights into the market with respect to its value and volume growth. It also highlights the trends and opportunities in the Basmati Rice market of Yemen. The report analyzes various factors that are affecting the Basmati Rice market such as drivers, restraints, supply chain analysis and Porter’s Five Forces model.
The Basmati Rice market of Yemen is segmented based on type, color and packaging. On the basis of type, it is further divided into white and brown basmati rice. The white basmati rice segment is expected to lead the market in terms of revenue followed by brown basmati rice during the forecast period. On the basis of color, it has been classified into white and brown basmati rice. The brown basmati rice segment will account for a share of over 50% in terms of revenue in this region during the forecast period followed by white basmati rice segment.