Basmati Rice is exclusively distinctive among all other rice varieties found in India. The elongation nature of rice has great market value around the world.
India and Pakistan are the major growers and exporters of the rice. The major varieties are demanded from the European Market are 1121 Basmati Rice, Golden Sella Basmati Rice, Pusa Basmati Rice, 1401 Basmati Rice, and 1509 Basmati Rice, etc.
Major Importing Countries of Basmati Rice in Europe
The recent ban on Basmati from Iran provides price benefits to several European Countries to boost the rice market growth in Europe. Iran was the leading importers of Indian Basmati Rice. Recently, Iran has imposed a ban on the importing of rice due to rising tension between Iran and USA. Therefore, Indian exporters are focusing on other markets especially on the European market.
- Germany and Netherland are two major importing regions among all other regions in European countries. Netherland is the second leading country of Basmati import from India.
- Due to increasing consumer from the market of Germany and Poland, the rising demand drives the market in upward trends in the Financial Year from 2018 to 2019.
- In 2016, The UK had held the largest market share of Basmati Rice in terms of both volume and revenue.
- In 2017, Russia held the largest market value.
Current Consequences of European Market
- In the current month of March, Government has asked rice exporters to conform to the pesticide standards of the European Union for shipments to Europe because European Union banned the special types of pesticide residue known as Tricyclazole. The import of any commodity products with a higher reading would not be permitted in the EU.
Major Key Players of European Basmati Rice Market
Different types of Basmati available in the market are distributed in all the countries of Europe. The major countries which have a large demand for rice are UK, Germany, France, Netherlands, Belgium, Italy, Russia, and many other European countries.
The Key players in the European Market are leading the global market growth. These players are
- Amira Basmati Rice
- East End Foods
- TBA Suntra
- G.S. International Rice Company
- Amira Nature Foods
- VSR Rice
- The Rice n Spice International Ltd.
- Kohinoor Foods
Prospects of European Market Growth
European Basmati Rice Market is expected to reach USD 615 million by 2023 at a CAGR of 3.2 percent.
The requirement of the rice has enormously developed in European countries, particularly in countries like Germany and the Netherlands.
The export demands for rice from European countries have led the market growth. According to market research, the rising disposable income in the market has driven the Basmati market growth in the world. Consumers are increasingly spending liberally on premium quality of grains. Therefore, this is one of the challenging growths over any other rice in the international market.