Basmati Rice Demand Soars Amid Neutral Trade Climate

The All India Rice Exporters Association (AIREA) announced on Friday that the recent price hikes for Basmati rice are driven by rising demand, mostly from markets like Saudi Arabia, Iran, and Iraq, rather than the ongoing India-Pakistan tensions.

Satish Goel, President of AIREA, confirmed that trade remains unaffected by political tensions. Price increases for Basmati rice, specifically the varieties 1509 and 1718, reflect a market response to higher demand since March, not disruptions linked to military escalations, he explained.

Former AIREA President Vijay Sethia further explained that after a high in September 2024, marked by rates of Rs 62 per kg for the 1509 variety, prices fell due to ample crops but rose again due to demand spikes in March, maintaining stability in trade.

(With inputs from agencies.)