05 August 2024, New Delhi: In the past 10 years, India’s export of basmati rice has been growing at a CAGR of 4%. This is double the CAGR of 2% achieved by India’s total agricultural exports. In FY 2023-24, the export of basmati rice reached a record level of 5.24 mn tons (Rs 48,389 Cr) up from 3.7 mn tons (Rs 27, 599 Cr) 10 years ago with growing demand based on acceptable quality.
Basmati Rice Exports from India
Year
Export Quantity in Million Tonnes
2014-15
3.70
2015-16
4.04
2016-17
4.00
2017-18
4.05
2018-19
4.42
2019-20
4.45
2020-21
4.63
2021-22
3.95
2022-23
4.56
2023-24
5.24
Source: APEDA (As of 2nd August 2024)
“On analysing, we found that 97% of India’s basmati export goes to non-EU countries led by Saudi Arab, Iraq, Iran, Yemen and UAE. EU is a minuscule market for rice in general, with its domestic consumption of rice @ 2.8 mn tons/year, much less than the domestic consumption of rice in Sri Lanka @ 3.2 mn tons/year”, said Nirmala Pathrawal, Executive Director, Croo Care Federation of India (CCFI)
“Therefore, there is no need to give disproportionate attention to the EU’s trade-restrictive regulations concerning rice”, she further mentioned.
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