Despite payment delays in Iran, India’s basmati exports up 33%
In Iran, the biggest buyer of Indian basmati, payments were held up as the country’s central bank delayed allocation of the currency to traders to buy rice and other commodities. December 15, 2020 / 05:58 PM IST
India’s basmati rice exports continue to grow, especially to Iran, despite shippers facing payment problems from the largest buyer of the fragrant grain.
“Basmati exports are doing very well. They are 30 percent higher this year compared with last year,” former president of Delhi-based All India Rice Exporters Association (AIREA) Vijay Setia said.
According to the Agricultural and Processed Food Products Export Development Authority (APEDA), an arm of the commerce ministry, basmati exports in the first half of the current fiscal were up 33 percent at 27.44 lakh tonnes compared with 20.57 lakh tonnes during the year-ago period.