Basmati rice becomes Indias top exporting commodity
The Dollar Business Bureau Basmati rice has again become the top commodity to be exported from India. The popular variety of rice overcame the exports of buffalo meat to take the position of the top most exporting commodity in the April-June quarter of 2017-18. For years, Basmati rice had been the major export commodity of the country. However, since 2014-15, buffalo meat had too over the former’s position. According to reports, the reason was that all new orders were suspended earlier by Iran, which consumes more than a fourth of India’s exports Basmati rice to the world. During its harvesting season, Iran generally suspends rice import orders. According to reports, this year Iranian traders have continued to import Basmati rice even in the harvesting ...
All India Rice Exporters Association seeks PMs intervention to revoke EU ban on basmati rice
The Dollar Business Bureau India’s widely appreciated basmati rice may face the closed doors of the EU due to the new regulations that EU has imposed on chemical residues, The All India Rice Exporters Association (AIREA) said on Wednesday. A fungicide named tricyclazole which many farmers use to prevent leaf and neck blast in basmati paddy varieties was banned by EU. For sometime EU had allowed a maximum residue limit (MRL) of 1ppm (parts per million) on the basmati rice that was exported to EU. However, it has issued a notification that residues above 0.01 ppm will not be allowed in the basmati imports after Dec 31, 2017. Speaking to the media, AIREA President, Vijay Setia said it would not only impact their ...
Basmati rice exports likely to touch Rs.22,500 cr in FY18: ICRA
The Dollar Business Bureau The exports of Basmati rice from India is expected to touch Rs.22,000–Rs.22,500 crore in financial year 2017-18 and the volume to about 4.09 million tonne primarily supported by a growth in average realisations, said the credit rating agency ICRA Ltd in a report on Wednesday. “We expect the export volumes in FY17 to be around 4 million tonne (almost similar to the volumes in FY2016). However, muted average realisations are expected to keep the value of these exports to under Rs.21,000 crore, against Rs.22,718 crore in FY16,” said Deepak Jotwani, Assistant Vice President, ICRA to PTI. “In FY18, the value of exports is likely to grow to Rs 22,000–22,500 crore, with export volumes growing to around 4.09 million tonne and ...
Govt allows basmati exports via land custom stations
The Dollar Business Bureau Amid India’s falling basmati rice imports, now for the last two consecutive fiscals i.e. 2014-15 and 2015-16, the government has permitted outbound shipments of basmati rice through land custom stations on Indo-Nepal border and Indo-Bangladesh. “In addition to the EDI (electronic data interchange) ports, export of basmati rice will now be permitted through land custom stations on Indo-Bangladesh and Indo-Nepal border also subject to registration of quantity with DGFT (Director General of Foreign Trade),” the Ministry of Commerce said in a statement on Monday. The ministry also said the government would not allow exports of basmati rice on the basis of documents against acceptance, unless exports are insured either by ECGC (Export Credit Guarantee Corporation of India), a government-owned ...
UAE helps India regain its basmati market in Iran
Deepak Kumar | The Dollar Business After Iran ended curbs on imports of basmati rice, the shipments of the aromatic food grain from India to Iran via the UAE have gone up by a record margin. During August and September this year, India’s overall basmati rice shipments to the UAE jumped to 81,000 tonnes as compared to 18,000 tonnes during the same period of 2014. Iran, by far, remained the major importer of Indian basmati rice, accounting for about 80% of total exports via the UAE. Iran has long been dependent on basmati rice imports to meet its domestic demand. It consumes nearly 2.4 million tonnes of basmati rice each year, while its domestic production accounts for only 1.4 million tonnes. Iran ...
Indian basmati rice exports to Iran likely to start from April 2015
Sai Nikesh | The Dollar Business The Indian exporters of basmati rice may expect good days ahead in the upcoming financial year that is going to start from April 2015. According to latest reports, the Government of Iran is likely to restart importing of India’s basmati rice in the new financial year, opening its doors for India after a temporary stoppage since October 2014. This supposed move by the Government of Iran was eagerly awaited by Indian exporters’ associations like Federation of Indian Exporters Organisation (FIEO), Agricultural and Processed Food Products Export Development Authority (APEDA), among others. Even though the Indian import permits had to face brief break since October 2014, Iran continued to execute existing and past orders ...
Indian rice exporters demand restoration of Interest Subvention Scheme
The Dollar Business Bureau (Pic - Bazaar-e Reza in Mashhad, Iran) Iran has slowed down purchases of Indian agriculture products in recent months following the ease of sanctions against it earlier this year Faced with various hurdles in the international markets, the All India Rice Exporters Association (AIREA) has urged the government to restore the Interest Subvention Scheme to avert a decline in rice exports and losses this year. After remaining a leader for three years, Indian rice exporters are likely to face a slowdown in FY2014-15 due to geo-political changes, low global prices and high supplies. According to official sources, India exported around 10.9 million tonnes of rice in FY2013-14, and India’s total rice exports during April – September 2014 ...
