Indian basmati 24-25 exports up Rs1,923cr over last season

Chandigarh: Despite the shadow of tensions between Iran and Israel, the export of Indian basmati rice surged by Rs 1,923 crore in 2024-25 fiscal year (April-March) compared with the previous fiscal year, according to the data available with the Agricultural and Processed Food Products Export Development Authority (APEDA). The escalating Israel-Iran conflict over the last fortnight had held up Basmati shipments. In terms of value in rupees, the exports were about 3.97% higher than the 2023-24 fiscal year, according to the data compiled by the Kolkata-based Directorate General of Commercial Intelligence and Statistics (DGCIS), aided by the strong demand from the Middle East.According to DGCIS data, India exported basmati rice worth Rs 50,312 crore (about $5.87 billion) in 2024-25 fiscal year. The value of exports of in the 2023-24 FY was about Rs 48,389 crore (nearly $5.74 billion).In terms of volume, India exported about 60.65 lakh metric tonnes (LMT) of basmati rice in 2024-25, 8.23 LMT (15.7%) more than in 2023-24. As per the APEDA data, India exported basmati rice to 154 countries in the 2024-25 fiscal year, while it had sold the commodity to 150 countries in the previous trading season.Saudi Arabia was the biggest importer of Indian basmati rice in quantity at about 11.73 LMT, followed by Iraq and Iran at 9.05 LMT and 8.55 LMT, respectively. These three countries were the top three importers in 2023-24 as well, buying 10.98 LMT, 8.24 LMT and 6.7 LMT of the commodity respectively.The other top 10 countries of importers include Yemen Republic (3.92 LMT), the United Arab Emirates (3.89 LMT), the United States of America (2.74 LMT), the United Kingdom (1.80 LMT), Kuwait (1.75 LMT), Oman (1.49 LMT) and Qatar (1.24 LMT).In terms of rupee value, Saudi Arabia was the biggest buyer, paying Rs 10,190.73 crore for the Indian basmati rice, followed by Iraq (Rs 7,201 crore), Iran (Rs 6,374 crore), UAE (Rs 3,089 crore), Yemen (Rs 3,038.56 crore), and the US (Rs 2,849 crore).Other big importers of Indian basmati rice in terms of value include the UK (Rs 1,613.36 crore), Kuwait (Rs 1,518.8 crore), Oman (Rs 1,223 crore) and Qatar (Rs 1,040 crore).