NEW DELHI
The quantity of
basmati rice that was exported in the 2010-11 fiscal has
almost been shipped out in the first 6 months of the current
financial year.
Due to Strong demand from the key
traditional markets in West Asian countries like Iran, Saudi
Arabiaand Iraq, Basmati shipments are likely to double to close
to 4 million tonnes in past
3 years.
In the current fiscal,
basmati exports have increased
by 16 % in volumes to exceed 2 million tonnes against
1.7 mt during the same time a year ago.
“ If Demand continues to be good
from the traditional buyers, at this speed we may end up
exporting over 3.8 mt for the current fiscal,†said R.
Sundaresan, Executive Director of the All-India Rice Exporters
Association.
Only factor that could hurt exports
is rising prices of the raw material, 1121 paddy
variety. Prices of raw material have almost doubled in the
past one year.