Exporters from Pakistan and India agreed to share ownership of the region's prized Basmati rice, the best solution to the issue to reach the EU markets
According to AIREA, India exported Rs 29,859 crore worth of Basmati rice in 2020-21, of which the western Asian nations accounted for Rs 22,849 crore. Basmati exports to the EU have declined from 397,000 tonne in 2017-18 to 241,000 tonne in 2019-20.
Covid fallout: Basmati orders dwindle over rising freight rates
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“Hardly any new orders are coming from the overseas markets. Unless the Covid situation improves in the country, we do not see good movement of basmati rice to the global markets,” Nathi Ram Gupta, president of All India Rice Exporters’ Association (AIREA), told ET.
In FY21, India had exported 13.08 million tonnes of non-basmati rice compared with 5.05 million tonnes in FY20.
As Covid-19 infections surge in the country, basmati exporters say orders are dwindling over rising freight rates and concerns that the virus may spread through consignments.
“Hardly any new orders are coming from the overseas markets. Unless the Covid situation improves in the country, we do not see good movement of basmati rice to the global markets,” Nathi Ram Gupta, president of All India Rice Exporters’ Association (AIREA), told ET.
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