Indian basmati exports are facing headwinds in the current fiscal, after two years of strong growth, said an ICRA note released on Thursday. The ICRA note says that with uncertainty over level of exports to Iran as well as likely moderation in average export realisations, basmati rice exports are expected to be muted in FY2020. This is after basmati rice exports in FY2019 were at an all-time high at Rs. While EU is a comparatively smaller market, Iran and Saudi Arabia are leading destinations, accounting for 50-55 per cent of Basmati rice exports from India.”During the current fiscal, Basmati rice exports realisations stood at Rs. This will have a bearing on Basmati rice prices in the next calendar year as well as overall Basmati rice exports in FY2021.

Source: Economic Times September 26, 2019 09:11 UTC