Basmati rice is a staple ingredient in many international dishes and has been a key export for India for years.
It is known for its long grains, unique texture, and fragrant aroma and is especially popular in biryani and matar pulao.
While India is the world’s largest exporter of Basmati rice, its exports have been declining in recent years.
According to provisional figures, India exported $3.53 billion worth of Basmati rice in 2021-22, the lowest amount since 2019-20.
This marks the third consecutive year of decline in value terms.
One reason for this drop is the loss of the traditional market of Iran due to US sanctions, which caused shipments to Iran to plummet 26% from the previous year to 834,458 tonnes.
Additionally, APEDA Chairman M Angamuthu mentioned that the increase in minimum support price for rice has led to some areas replacing Basmati acreage with non-Basmati rice.
Despite these challenges, India’s agriculture exports reached a record high of over $50 billion in FY22.
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