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Basmati prices up on higher demand, not due to India-Pak tensions: AIREA
The trade has not been affected so far and the orders are being fulfilled smoothly, says AIREA president
Press Trust of India New Delhi
All India Rice Exporters Association President (AIREA) Satish Goel on Friday ruled out any impact on Basmati trade, stressing that the recent increase in prices of the commodity is owing to higher demand and not due to the ongoing India-Pakistan tensions.
The export price of Basmati rice varieties --1509 and 1718 -- have inched up slightly since March due to rise in demand and not due to supply disruptions caused due to ongoing military escalations between the two nations, he said.
"Not due to ongoing India-Pakistan tensions, the Basmati prices have gone up recently. Prices rose slightly because of higher demand from Saudi Arabia, Iran and Iraq," Goel told PTI.
The trade has not been affected so far and the orders are being fulfilled smoothly, he added.
AIREA former president Vijay Sethia said in September 2024, Basmati rice, particularly the 1509 variety, were ruling high at Rs 62 per kg. Thereafter, prices dropped mainly due to a bumper crop arrival. Large arrivals of 1509 paddy as well as other Basmati varieties in major producing regions led to downward pressure on prices.
The prices of the 1509 paddy variety were ruling down at Rs 52 per kg till February.
However, the rise in demand in March pushed the prices slightly upward to Rs 58 per kg, but noted that the prices are still ruling below the September 2024 level.
"It has nothing to do with the ongoing tension between the two nations," Sethia noted.
India exported around 6 million tonnes of Basmati rice in 2024-25, while Pakistan shipped around 1 million tonnes.
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