Strong demand from the Middle East drives the export of the long-grained, aromatic rice
Farming Cosmos market report: India’s basmati rice exports were higher by Rs 9,865.1 crore in the fiscal year (April-March) compared with the previous fiscal year. The exports of the Indian basmati rice were about 25.61% higher in terms of value in rupees as compared with the previous fiscal, 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.
As per the DGCIS data, India exported basmati rice worth about Rs 48,389.21 crore (nearly $ 5.74 billion) in the 2023-24 fiscal year. In the 2022-23 fiscal year, India had exported 45.61 LMT of the commodity worth about Rs 38,524.10 crore (nearly $ 4.79 billion).
The country exported about 52.42 LMT of basmati rice in 2023-24, about 6.81 LMT (about 14.95%) more than in 2022-23. According to the DGCIS data, India exported basmati rice to 150 countries in 2023-24 while in the 2022-23 fiscal year, it had sold the commodity to 149 countries.
Saudi Arabia was the biggest importer of Indian basmati rice in quantity at about 10.98 LMT followed by Iraq and Iran at 8.24 LMT and 6.7 LMT respectively. In 2022-23, Iran was the biggest buyer at 9.98 LMT; Saudi Arabia was second at 9.54 LMT, and Iraq was a distant third at 3.64 LMT.
The other importers in the top 10 countries include the Yemen Republic (3.07 LMT), the United Arab Emirates (3.08 LMT), the United States of America (2.34 LMT), the United Kingdom (1.85 LMT), Kuwait (1.79 LMT), Oman (1.64 LMT) and Qatar (1.15 LMT).
In terms of value in rupees, Saudi Arabia was the biggest buyer paying Rs 10,391.12 crore for the Indian basmati rice followed by Iraq (Rs 7,349.53 crore), Iran (Rs 5,626.27 crore), Yemen (Rs 2,837.92 crore), UAE (Rs 2,766.55 crore) and the US (Rs 2,526.71 crore).
Other big importers of Indian basmati rice in terms of value include the UK (Rs 1,817.36 crore), Kuwait (Rs 1,671.16 crore), Oman (Rs 1,504.54 crore) and Qatar (Rs 1,031.19 crore).
INDIA’S EXPORT OF BASMATI RICE IN THE 2023-24 FISCAL YEAR (APRIL-MARCH)
| TOP 10 IMPORTING COUNTRIES | QUANTITY IN METRIC TONNES | VALUE IN RS CRORE | VALUE IN $ BILLION |
| SAUDI ARABIA | 10,98,039 | 10,391.12 | 1.25 |
| IRAQ | 8,24,779 | 7,349.53 | 0.89 |
| IRAN | 6,70,781 | 5,626.27 | 0.68 |
| YEMEN REPUBLIC | 3,07,121 | 2,837.92 | 0.34 |
| UNITED ARAB EMIRATES | 3,08,663 | 2,766.55 | 0.33 |
| UNITED STATES OF AMERICA | 2,34,473 | 2,526.71 | 0.3 |
| UNITED KINGDOM | 1,85,566 | 1,817.36 | 0.22 |
| KUWAIT | 1,79,585 | 1,671.16 | 0.2 |
| OMAN | 1,64,353 | 1,504.54 | 0.18 |
| QATAR | 1,15,405 | 1,031.19 | 0.12 |
| OVERALL | 52,42,511 | 48,389.21 | 5.84 |
Source: Directorate General of Commercial Intelligence and Statistics (DGCIS), Kolkata
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