Basmati Rice

Basmati rice sales are likely to increase 30 per cent to more than Rs 50,000 crore in the current fiscal, mainly due to high realisation and healthy demand, according to a report. In the report on Thursday, Crisil Ratings said that next fiscal, however, sales will decline 5-7 per cent as basmati rice realisation is expected to soften with anticipated increase in paddy acreage. The volume demand is expected to remain stable at 6.8 million tonnes, it added. "Basmati sector sales will likely rise 30 per cent this fiscal, with volume growing 10 per cent and realisation increasing 20 per cent. "Growth in export volume is driven by two factors -- increased food grain demand amid geo-political issues, and India benefiting from lower basmati exports from flood-affected Pakistan, a key basmati exporter. Next fiscal, sector sales will reduce by 5-7 per cent solely due to moderating prices," Crisil Ratings Director Nitin Kansal said. Basmati rice exports, comprising 64 per cent of sales by

For the first time in the country, the Food Safety and Standards Authority of India (FSSAI) has specified identity standards for basmati rice

There is no clarification from Iran for the stoppage but exporters believe that it is due to widespread anti-hijab protests in the country

Currently, basmati - which is meant for exports to European nations only - is allowed with up to 15 per cent blending. However, for domestic sale, the blending goes up to 30-40 per cent

India, which commands 40% share in the global rice trade, exported 21.23 mt of rice in 2021-22, against 17.78 mt in the previous year

The restrictions were placed, because sowing has not been up to expectations on account of irregularities in rainfall

Last week, the government imposed 20 per cent export duties on various grades of rice like non-basmati, unmilled, semi-milled or totally milled, and husked brown.

Should you hold rice mill stocks amid export curbs?

Govt's imposition of export duties on rice may harm the profitability of rice-mill companies in the near-term. But, healthy rice harvest is expected to override negative sentiments in the long-haul

Shares of LT Foods, Kohinoor Foods, KRBL, Chaman Lal Setia Exports, for instance, have declined in the range of 2 per cent to 9 per cent, as against 0.4 per cent gain in the Nifty50 index.

Exports of agricultural and processed food products rose by 31 per cent in the quarter to USD 7.4 billion.

There has been a double-digit year-on-year increase in the prices of most spices, with branded coriander costing 16.9 per cent more in June this year than a year ago

Actual agriculture exports in FY22 were $47.41 billion, up almost 19% over FY21. This was among the highest ever agriculture exports in value terms by India

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Ratings agency CRISIL believes organic business profitability of LT Foods should lead to higher consolidated EBITDA in the fourth quarter of 2022.

Why is India's basmati rice export seeing a decline?

India's basmati rice export has been witnessing a decline. It plunged to its lowest in the last four years in 2021. Is Indian basmati losing its shine, or is it a temporary phase?

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Country posted 20% in exports of agricultural and allied products, while exports of plantation crops rose 19% to $1.2 billion and those of marine products were up 35% to $6.18 billion

Rains lashing several parts of Punjab are likely to cause damage to crops especially basmati paddy at various places in the state, officials said on Sunday

Islamic Republic ordered nearly 30 per cent of India's basmati rice exports in financial year 2019-20, buying 1.3 million tonnes

The issue is sensitive for the MP chief minister, especially in the light of the coming bypolls in the state's farming zone