Exports of India’s premium basmati rice dropped by up to half this month from a year ago as freight rates doubled following a series of attacks on ships in the Red Sea.
In a strategic move to capitalize on heightened demand from key markets in Europe and the Middle East, India has inked agreements for the export of approximately 500,000 metric tons of new season basmati rice, according to reports from traders on Wednesday. India, renowned for its annual export of over 4 million tons of basmati rice, a distinctive long-grain variety celebrated for its aromatic quality, continues to fortify its trade ties with nations such as Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates, and the United States.
India signs deals to export 500,000 tons of new season basmati rice zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
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