Indian Basmati Exports On a High

Continuing its surge, India’s Basmati exports this year are likely to hit a record 3 million MT levels despite subsidy withdrawal from Saudi Arabia, setbacks to exports in Iran and the Dubai financial crisis.

In 2008-09, around 2.31 million MT of Basmati was exported from India but a good portion of the exports was high value non-Basmati rice but the exports were much higher than the 1.51 million MT registered in 2007-08.

Meanwhile the Indian government has put off an urgent decision on whether or not to import rice to boost domestic market supplies and tone down prices until March this year.