Basmati rice prices fall in local market as Iran war disrupts exports
Basmati prices in Pune have dropped 5–6% after export disruptions to the Middle East, which buys nearly half of India’s ₹50,000-crore shipments. With over 75% of output exported, prolonged trade slowdowns could swell domestic supply and trigger sharper price corrections.
Pune: Basmati rice prices have fallen 5% to 6% locally after disruption in exports to the Middle East, a region that accounts for about half of India’s ₹50,000-crore overseas shipments.
The industry expects an even sharper correction in the coming weeks, with more than three-fourths of India’s basmati output typically shipped abroad. Any prolonged slowdown in exports could increase local supplies and put further pressure on prices of the premium grain, said industry executives.
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Source : The Economic Times
