Basmati Export Orders Touch 23 Lakh MT

Basmati rice export contracts during the first 9 months of this fiscal crossed the 23 lakh MT, posting 43.75% growth over the same period a year ago, on the back of high demand for the Pusa 1121 variety and lower benchmark price.

According to the government’s agri-trade promotion body Apeda, exporters registered contracts for Basmati rice exports for over 23 lakh MT by the end of December against 16 lakh MT in the year-ago period. In the entire 2008-09 period, the export contracts for Basmati rice was only about 23 lakh MT.

Basmati rice export is calculated on the basis of the export orders registered with APEDA as the data on actual shipments come much late.

Traders said the Pusa 1121 variety is being contracted at $1,500 PMT. The export price was about $900 PMT in October 2008, when the new crop started arriving in the market.