Basmati shipments to Iran, the biggest customer of the Indian fragrant rice, are set to decide on up with experiences of the West Asian country lifting the seasonal ban on rice imports.
“Though there is no formal data yet, it is learnt that Iran has lifted the seasonal curbs on rice imports. We expect basmati shipments to achieve pace in the coming months though the bigger ocean freight prices and non-availability of containers remain a problem,” reported Vinod Kaul, Executive Director, All India Rice Exporters Affiliation.
Iran has typically imposed an annual seasonal ban on rice imports all through its domestic harvest period from July to mid-November to protect its growers.
Having said that, what could enable the Indian exporters this 12 months is the reality that Iran, possibly, has experienced a reduced than typical crop, Kaul reported.
Also, payment problems that Indian exporters confronted in the new past have mainly been resolved and the trade is now using put in third celebration currency — the United Arab Emirates Dirham (AED), he reported.
India’s basmati exports all through April-August this 12 months have been impacted by the scarcity of containers and sharp raise in freight prices, Kaul reported.
The principal concern is the availability of containers on time, Kaul reported introducing that the scarcity even now persists, although the demand is almost typical.
As per APEDA figures, all through April-August this 12 months, basmati shipments in volume conditions dropped sixteen per cent to one.seven million tonnes, from two.03 million tonnes a 12 months in the past.
In worth conditions, the shipments have been 20 per cent reduced at $one.44 billion from $one.8 billion in the very same period a 12 months in the past.
Commenting on the domestic output, Kaul reported the manufacturing is very good and the new crop has been coming into the current market.
New export markets
Exports really should achieve momentum from now until March, typically the peak period for Indian basmati shipments, Kaul reported.
In the existing 12 months, some Latin American nations around the world have imported some good portions of Indian basmati.
“We can say some new opening have occur this 12 months from Latin America. Having said that, that will even now remain a minimal current market although West Asia, which accounts for seventy two-eighty per cent of the total basmati shipments continues to be the mainstay,” he extra.
India exported 4.63 million tonnes of basmati rice valued at $4.02 billion all through 2020-21 from 4.45 million tonnes valued at $4.37 billion in the very same period previous 12 months.