India’s rice exports likely to increase as key buyers in Saudi Arabia

India’s basmati rice exports surged by 17% in volume during the first three quarters of the last fiscal year (ended Dec. 21, 2022), while exporters are earning at least 20% more on average in overseas markets as Saudi Arabia bought half of India’s total shipments of the aromatic rice.

According to the latest data from the Agricultural and Processed Food Products Export Development Authority, the shipment of basmati rice increased to 3.2 million tons in April–December 2022 from 2.74 million tons in the year-ago period. However, in terms of value, the surge was 40% to $3.34 billion from $2.38 billion.

Source: Financial Tribune