Karnal rice exporters expecting handsome orders in Gulf Food Festival, Dubai.
Haryana farmers producing rice eye rich returns during the coming Gulf Food Festival to start from 19th February 2024 at Dubai. in which nearly 50 countries are participating. Basmati rice produced at Tarawadi in Karnal
district, Kurukshetra, Yamunanagar and Kaithal districts in Haryana state is the first choice in export markets. According to information, nearly 60 to 65% Basmati rice exported to160 countries across the world including USA, Europe, Italy, Spain, Thailand, Sri Lanka, China, Africa, Nepal and Khadi countries supplied from Karnal district in the state. Exporters from Haryana state are expecting good orders from countries like Iraq, Iran, United Arab, Amirat and Yaman in the coming Gulf Food Festival.
Following a rise in demand, basmati rice export surged to 4.24 lakh MT in April this year, up from 3.19 lakh MT the previous year. Basmati growers and traders are likely to reap a rich harvest over the coming Kharif marketing season as the prices of all aromatic long grained varieties of rice has witnessed an increase in domestic and international market. Haryana farmers and traders are likely to reap a rich harvest over the coming Kharif marketing season. According to reports from rice exporters following a demand in the international market, the prices of Basmati rice have reached to over Rs 90,776 per metric tonne (MT) from Rs 83,068 of the last year. Following a jump in the rice export from the country, the price of basmati rice in the domestic market has reached above Rs 80 to Rs 120 a kg against Rs 70 to Rs 100 of the last year.
Information by the Agricultural and Processed Food Products Export Development Authority (APEDA) revealed that in April, 2023-24 India exported 4.24 lakh MT basmati rice against 3.19 lakh MT of the previous year. The rise in export has helped exporters to earn handsome profits as prices in the international market have also witnessed an increase of around Rs 7,000 per MT. They are predicting that the prices may rise further following the increasing demand of Indian rice in the international market. There is also a surge in the export and prices of the parmal or non-basmati rice in the country. It exported a total of 14.2 lakh MT non-basmati rice in 2023 as against 13.52 lakh MT last year. The prices of the non-basmati rice also reached an all-time high of Rs 30,576 per MT last year from Rs 29,265 per MT last year.
Former president of All India Rice Exporters Association former president Vijay Setia said that the prices of both basmati and non-basmati rice have witnessed rise following an increase in demand in the international market. Setia, however, demanded the government to lift levy from the procurement of basmati paddy in Haryana mandis and the move will boost the competition and the farmers will earn more. According to information farmers of Haryana and Punjab are the biggest producer of basmati rice and contribute around 80% of the country’s total produce and the benefit from rising prices will increase farmers as well as rice exporters income. While talking to media persons, Setia said that there are nearly 150 Basmati and Non-Basmati rice exporters in the country which include nearly 60 rice export in Karnal district alone because of production of high quality rice in the area.
This article has been republished from The Financial World.