Long, slender-grained aromatic rice known as basmati is typically grown in India, Pakistan, and Nepal. Due to the fact that many nations import basmati rice from India, India accounted for 65% of the global basmati rice trade in 2019. Punjab, Haryana, Himachal Pradesh, Delhi, Uttarakhand, Western Uttar Pradesh, and Jammu and Kashmir are the states in India that are best for producing basmati rice.
The year 2022, was expected to be a great year in terms of agriculture and agro-trade, especially with the waning impact of coronavirus. However, all hopes were shattered owing to the series of events in the year 2022. Russia’s invasion in Ukraine disturbed the crop production.
Grown traditionally in India, Pakistan, and Nepal, Basmati rice is a variety of long, slender-grained aromatic rice. In 2019, India accounted for 65% of the total trade of basmati rice and this does not come as a surprise as many countries procure basmati rice from India. Owing to favorable climatic conditions, Punjab, Haryana, Himachal Pradesh, Delhi, Uttarakhand, Western Uttar Pradesh, and Jammu & Kashmir are the most favorable states for the production of basmati rice in India.
Thai Rice Exporters Association (TREA) claimed that even after the devastating impact of Typhoon Noru, Thai rice exports could reach 8 million tonnes by the end of this year. Moreover, the weak Baht (Thailand’s currency) in comparison to the US Dollar has helped overseas sales.
26% rise in exports can be called phenomenal I guess. This rise in basmati rice exports has not happened in a span of decade or half a decade or a year but just one solitary quarter. Q1 export data of 2022-23 financial year shows 26% rise in rice exports from Indian shores. $1.15 billion exports by value is a handsome rise over $922 million rise in the corresponding period last year. Rise in export of Pakistani basmati is no match to growth in export of Indian basmati but Pakistani basmati dominates European Union market and is giving stiff competition to Indian basmati in Middle East. Indian domination on global basmati trade is not easy to challenge by Pakistan but still India is wary of Pakistani challenge as Pakistani claim on basmati brand is quite genuine. Only problem with Pakistani claim is production that is many times higher in India compared to Pakistan.
Basmati rice is exported to UAE from India via sea mostly. Ocean shipping of basmati is through container (LCL and FCL). Nothing is perfect so both modes of transportation (LCL and FCL) of basmati have merits and demerits. LCL or less than container load is cheap way of transporting freight from India to UAE but in this mode container space is shared. FCL or full container load is also cheap and at times it is cheaper compared to LCL. Benefit with FCL is that container can be sealed by the exporter.
If you’re interested in entering the exciting and lucrative world of basmati rice export, you’ve already taken the first step in making your business as successful as possible. Starting any new business venture can be challenging, but it’s especially so when you are trying to break into an industry that isn’t familiar to you and when trying to do it from overseas. In order to ensure your success, here are five tips that can help boost your basmati rice export business from the start and make it a profitable investment for years to come.
The basmati rice export policy of the Indian government is designed to protect the industry and ensure that the quality of basmati rice continues to be high. The policy also aims to promote Indian exports and help create jobs in the basmati rice sector.
Basmati Rice is a type of long-grained rice that is grown in India and Pakistan. Basmati rice is considered to be one of the best types of rice eaten by people all over the world. In this article, we have listed the top five countries which produce Rice.
Basmati rice, which comes from the Hindi word basmati, meaning fragrant, is distinguished by its unique, almost floral aroma and taste. It has become one of the most popular types of rice in many countries around the world due to its quality and reputation as being one of the finest varieties of aromatic rice available. However, it wasn’t always this way – in fact, basmati rice was only introduced to India from Iran via Pakistan some 3,000 years ago!
