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India’s exports of basmati rice to Belgium and Netherlands soar

Rising demand for basmati rice in these European countries has resulted in a better price realisation for farmers, mainly from the basmati rice-growing areas in Punjab and Haryana. The common variety of basmati rice, 1121 Pusa, which is mostly exported, has been fetching a 15% higher price at the farmgate from November.<br>

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India’s exports of basmati rice to Belgium and Netherlands soar

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  1. India’sexportsofbasmatiriceto BelgiumandNetherlandssoar Synopsis Rising demand for basmati rice in these European countries has resulted in a better price realisation for farmers, mainly from the basmati rice-growing areas in Punjab andHaryana.Thecommonvarietyofbasmatirice,1121 Pusa,whichismostlyexported, hasbeenfetchinga15%higherpriceatthefarmgatefromNovember. KOLKATA:Inthemidstofthefarmers’agitation,SouthAsiansinBelgiumandthe Netherlands are stocking up on basmati rice from India, benefitting growers in PunjabandHaryana. India’s exports of basmati rice to Belgium have increased 60% in the first eight monthsofthecurrentfinancialyear,whileimportsbytheNetherlandshavealmost doubled. RisingdemandforbasmatiriceintheseEuropeancountrieshasresultedinabetter price realisation for farmers, mainly from the basmati rice-growing areas in Punjab andHaryana.Thecommonvarietyofbasmatirice,1121,whichismostlyexported,has beenfetchinga15%higherpriceatthefarmgatefromNovember.

  2. InEurope,consumersaredrawntowardsaromaticbasmatiricefortraditionaldishes suchassushi,risottoorpaella. “Europe is a big market for us. This year, due to the ongoing pandemic, there has been a lot of panic buying by the European market,” Gurnam Arora, joint managing director at Kohinoor Foods NSE -1.41 %, told ET. “South East Asian people residing in thesecountrieshaveboughtgoodquantitiesofbasmatiriceforhomeconsumption.” WithfearsinEuropethatthespreadofthenewstrainofthecoronaviruswillresultin anotherlockdown,customersarestockinguponbasmatirice “ThisisbenefittingthefarmersofPunjabandHaryanaaswearegivingthemhigher prices,”Arorasaid. GautamMiglani,ownerofHaryana-basedLRNK,aleadingexporterofbasmatirice, saidEuropehasemergedasamajormarketasexportstoIransloweddown.Inthe firsteightmonthsof FY21, exportstoIranfell16%. “PaymentsfromIranagainstbasmatiriceconsignmentsareyettocome.According toindustrypeople,nearlyRs1,500crorepaymentisduefromIranianimporters,”said VinodKaul,executivedirectoroftheAllIndiaRiceExportersAssociation(AIREA). India’sbasmatiriceexportsclimbed29%to3.05millionmetrictonnesinthefirst eightmonthsofthisfinancialyear.KaulsaidSaudiArabia,YemenandIraqhave boughtgoodquantitiesofrice. Indiaproduced7.5milliontonnesofbasmatiinIn2019-20,ofwhich61%wasexported, earning the country Rs 31,025 crore, according to the commerce and industry ministry. “Thereshouldbeabenchmarkinpricethatfarmersshouldbepaidsothattheydo notfallpreytomiddlemen,”saidVijaySetia,formerpresidentofAIREA,commenting ontherealisationforfarmersonthebackofrisingexports. SourceBy:- https://muskanoverseas.com/2018/11/23/reality-manufacturing-will-revolutionize/

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