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.
Lebanon is a country in the Middle East. It has a population of around 4 million people and its capital city is Beirut. Lebanon has a GDP per capita of $8,000 and the mother language of Lebanon is Arabic. The Basmati rice market in Lebanon was valued at USD 540 million in 2016 and reach to approximately USD 790 million by 2020, registering a CAGR of 5% during 2017-2020.
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WHAT IS BASMATI RICE?
Basmati Rice is a type of rice that is grown in the Himalayan region of India and Pakistan. It is aromatic, long-grained, and non-sticky rice. It has been traditionally cultivated in Punjab, Haryana, Himachal Pradesh, Delhi, Uttarakhand, Uttar Pradesh, and Bihar states in Northern India. In today’s time, it has also been exported to the USA, Canada, and many other countries across the globe where the demand for Basmati Rice is gaining ground due to its unique characteristics.
Rice is the common food for more than half the world’s population. It is the second-largest cereal crop produced in the world after corn. Rice is also a key staple food in many parts of Asia, North America, South America, and Europe. The global rice market is expected to rise at a CAGR of more than 2% by 2022. This rise can be attributed to the growing population and increase in demand for different varieties of rice such as brown rice, basmati rice, and jasmine rice. Moreover, factors such as increasing disposable income, rapid urbanization, and changing dietary patterns are expected to contribute significantly to the growth of this market during the forecast period. Moreover, countries such as India and China are major producers of rice globally.
Basmati rice is one of the most popular types of rice all over the world. It is a very aromatic rice that is native to the Indian subcontinent and has become extremely popular in the Middle East, Gulf Arab countries, Europe, the USA, and Canada.
Rice is a staple food consumed by more than half the world’s population. It provides 20% of the world’s dietary energy supply and is grown on more land area than any other commercial food. Rice is a key crop in hunger-proofing economies and in sustaining rural livelihoods.
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Basmati rice exports from India reached 4.62 million tons in 2020-21, valued at $4 billion. It is expected that the rice exports from India will continue to dominate the world market this year as well, according to trade and industry experts. In total, Indian rice exports fetched around Rs 65,297 crore in 2020-21, which is quite an impressive amount.
The top ten countries in terms of volume of Basmati rice exports from India in 2020-21 are Saudi Arabia, Iran, Iraq, Yemen, United Arab Emirates, United States of America, Kuwait, United Kingdom, Qatar, and Oman. Together, these ten countries are responsible for around 80 percent of the total shipments of basmati rice from India. In 2020-21, India exported around 4.63 million tons of Basmati rice valued at Rs. 29,849 crore.