Non-basmati rice exports rise by 36% in 2017-18 fiscal

Pune: Export of rice, specifically the non-basmati varieties, rose by 36% in the 2017-18 fiscal in comparison to the last financial year.

The basmati and non-basmati rice exports figures in 2016-17 fiscal stood at 39.85 lakh metric tonne and 67.70 lakh metric tonne respectively. In 2017-2018, while the export volume was marginally more for basmati rice (40.56 lakh metric tonne), it saw a significant jump in the case of non-basmati rice (86.48 lakh metric tonne), revealed the data available with the Agricultural and Processed Food Products Export Development Authority (APEDA).

Dhaval Shah, the director of Jairaj Group in Gultekdi wholesale market, Pune, said India has been leading its rivals Thailand and Vietnam in rice exports for the past three years. “This record export fetched India foreign currency worth Rs 50,000 crore. The share of basmati rice is Rs 26,000 crore, while Rs 24,000 crore has come from non-basmati exports,” he said.

Shah said the growth in the volume of non-basmati rice export can be attributed to the growing demand for rice varieties from African countries, Nepal, Bangladesh and the rise in prices of rice from Thailand. “Decent demand from the US and the European Union has also contributed to this growth,” he said.

The biggest market for Indian basmati rice is the Middle East. India exports basmati rice mainly to Iran, Iraq, Saudi Arabia and the UAE.

Shah said basmati rice exports are expected to rise in future whereas a downward trend can be anticipated in non-basmati rice segment.

“The government has increased the minimum support price for crops by Rs 1.50-Rs 2 per kg. The increased rates will directly affect export rates,” he said.