Trends India - Exports of Basmati Rice.
Basmati rice is grown in India for many centuries. The production of Basmati rice in India is almost 46% of total food crop production. Thus, we can say that India is famous for its rice cultivation all over the globe. India is self-sufficient in theproduction of rice and so it exports rice in many countries.
Exports of Basmati Rice from India.
The statistical data of ICRA and APEDA mentioned the following:
India's rice exports raised almost 30-33%. It was due to strong global demand.
Rice exports went to Rs. 8168 Crores in the current year against Rs. 6196 Crores in the previous year. No doubt, Basmati rice occupies the top position in country's exports.
The major global markets for Indian Basmati rice are USA, Saudi Arabia, Japan, Europe, and Iran. In the last few years, the exports to the USA are down compared to the Middle East.
The reason behind the decrease in the US exports is that US agencies found pesticide residues in Basmati rice exported from India. It’s because of tricyclazole, a pesticide manufactured by Dow Chemicals that 90% shipments are being rejected.
To recover it, rice exporters are now looking to produce a new variety of Basmati Rice which can help them to increase the demand for export.