Basmati exports set to top record $5 billion-mark this fiscal.

India’s basmati shipments are set to cross the $5 billion-mark during the current financial year on robust demand from traditional markets in Middle East and other markets such as the United States and the United Kingdom.

Basmati shipments have maintained a growth rate of about 20 per cent in the first ten months of the financial year 2023-24 (April-January) with the export value touching $4.586 billion. With shipments gathering pace in February, ahead of the Ramadan festive season, trade sources expect the value to exceed $5 billion for the current fiscal.

This article has been republished from The Hindu Business Line.