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Basmati Exports Surge to Record 3.21 mt in 2011-12 27 Aug 2012  
Basmati Exports Surge to Record 3.21 mt in 2011-12

Basmati Exports Surge to Record 3.21 mt in 2011-12

 

NEW DELHI, Aug. 26 Spurred by robust demand from the traditional markets in West Asia, Basmati Exports surged 45 per cent to a record 3.21 million tonnes (mt) in 2011-12 from 2.18 mt in 2010-11.

A senior official of the Agriculture and Processed Food Products Export Development Authority (Apeda) apprised that in value terms exports rose 46 per cent to Rs 15,450 crore in 2011-12, as against Rs 10,578 crore in 2010-11. Beside, export growth surged 29 per cent in dollar terms to $3.22 billion, as against $2.49 billion last year, he said, adding that the lower growth in dollar terms was due to the weak rupee.

A senior official of KRBL, the country’s largest exporter, which owns the India Gate brand, said that exporters were harbouring hopes of sustaining the growth momentum on robust demand in the current fiscal. He also apprised that exports were currently at around 3,00,000 tonnes a month.

Analysts foresee exports gathering pace in the wake of the government’s recent moves to do away with the minimum export price (MEP) and resume direct shipments to Iran, the largest market, in addition to China’s decision to import the Indian variety.

The Apeda official pointed out that Iran, Saudi Arabia and the UAE were the three large export markets in 2011-12.

He also disclosed that non-Basmati rice exports had managed to keep pace with the aromatic rice, with shipments going past 5 mt till date. The government had allowed exports of non-Basmati rice in September 2011 following a bumper harvest.

Experts have estimated that output could touch 104.32 mt against the target of 102 mt, with African countries like Nigeria and Ghana being the major destination for non-Basmati rice.

A former official of the All-India Rice Exporter’s Association (AIREA) apprised that total rice shipments, including Basmati and non-Basmati, had touched 7.3 mt in 2011-12, making India the largest exporter.

 

 

(Source: Exim India Dt. 27.08.2012)
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