Mumbai, Nov 30 (Commoditiescontrol) The exports of basmati rice are likely to rise this year on strong demand from Middle-East. A report anticipated that the exports are likely to rise this year 15% compared to last year as key buyers in the Middle East build their inventories despite prices jumping by nearly a quarter.
Higher basmati exports would keep local prices firm, helping Indian farmers earn more by pushing paddy prices up to a record high.
India could export more than 4.5 million tonnes in 2022/23 financial year started on April 1, up 15 % from a year ago, he said. Trade ministry data showed that exports rose 11% to 2.16 million tonnes in the first half of 2022/23.
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