Basmati Rice Price Surge Driven by Demand, Not India-Pakistan Tensions
The All India Rice Exporters Association president clarified that the recent price increase in Basmati rice is due to higher demand from countries like Saudi Arabia, Iran, and Iraq, not due to India-Pakistan tensions. The trade remains unaffected, with large crop arrivals influencing previous price variations.
- Country:
- India
The President of the All India Rice Exporters Association (AIREA), Satish Goel, assured that the Basmati rice trade remains steady, unaffected by India-Pakistan tensions. The price hike, he insisted, results from heightened demand, rather than geopolitical factors.
Goel explained that since March, the export prices of Basmati rice varieties such as 1509 and 1718 have increased slightly due to growing demand and not due to supply chain disruptions linked to military escalations between the two countries.
Even former AIREA president, Vijay Sethia, supported this view, noting high demand arrivals have currently maintained prices, despite the significant drop after a bumper crop earlier. India and Pakistan still continue their exports smoothly.
(With inputs from agencies.)
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