Flood spoiled 40% of Basmati crop in Pakistan: Demand in international market increased by 20%, Punjab’s traders-farmers would get 6500 crore more

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This time the demand for Basmati rice has increased by 20 percent in the world, due to which the traders and farmers of Punjab are likely to get 40 percent more i.e. about Rs 6500 crore as compared to last year. According to experts, the real reason for the increase in demand is Pakistan, which is a major exporter of Basmati in the world, where 40 percent of the crop has been destroyed by floods. Rice trader Vivek Goyal says that the price of Basmati has increased in the last two months. The price of Basmati paddy coming from Amritsar belt of Punjab is getting Rs 1000 per quintal more than last year.

The first basmati variety ‘Pusa 1509’ to come to Punjab is getting a price of Rs 3400 to 3700 per quintal at present, compared to Rs 2300-2900 per quintal last year. According to Tarsem Saini, President of Punjab and All India Rice Millers Association, Punjab produced 48 lakh tonnes of Basmati last year. This year 5 million tonnes of Basmati is expected.

Basmati prices increased by ~15 thousand per tonne in the international market

India exported 39.48 lakh tonnes of basmati rice in 2021-22, of which 40 per cent i.e. 1.6 million tonnes was from Punjab alone. Basmati rice exports have reached 1.82 million tonnes in the first four months of 2022-23, an increase of 7 per cent over the same period last year. In the international market, Indian basmati was selling for $ 1,350 (Rs 1.07 lakh) per tonne in May this year, which has reached more than $ 1550 (Rs 1.24 lakh) per tonne in August-September.

Exports from Punjab worth Rs 16,000 crore are expected to increase by 40 percent this time.

India exports Basmati Chawl worth about 40 thousand crore rupees every year. Punjab contributes about 40 per cent of the total rice exports. Basmati worth Rs 16,000 crore was exported in the last year. This time the demand has increased, the rice exporters and farmers of Punjab are likely to get Rs 6500 crore more. That’s why traders are preparing for more storage than ever before.

Last year, 60 lakh tonnes of Basmati production in Pakistan

About 6 million tonnes of Basmati are produced in Pakistan every year. In the year 2021-22, 49 lakh tonnes of Basmati has been exported from Pakistan. This year, 5 lakh tonnes of Basmati crop has been completely destroyed due to floods, while 1.5 million tonnes have been badly affected.

Basmati export from Pakistan stalled for 3 weeks

Basmati exports from Pakistan have been stalled for 3 weeks due to floods. This time the demand of Basmati in the international market is about 20 percent more than last year. This time is a good opportunity for Punjab.

Tejinder Singh Raja, Consultant, Rice Exports

Credit: www.bhaskar.com /

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