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India exported basmati worth $5.9 billion in 2024-25, a growth of only 1.73% from the previous year and significantly lower than the 22.05% rise in FY24
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Official sources said these reports are a bunch of unverified and misrepresented facts propagated by ill-informed sources.
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India and Pakistan are the only growers of basmati rice. New Delhi exports more than 4 million metric tons of basmati – the premium long-grain variety famed for its aroma – to countries such as Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates and the United States.
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Nepal has requested India to provide one million tonnes of paddy, 100,000 tonnes of rice, and 50,000 tonnes of sugar
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Several NRIs shared pictures of empty shelves at the stores -- possibly an outcome of panic buying fuelled by fears and misinformation of a complete ban on rice exports by India.
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Videos and photos doing rounds on social media show NRIs queueing up outside grocery and departmental stores to buy rice while others climb shelves and pull away heavy bags of rice.
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Out of total exports, basmati rice exports rose to 24.97 lakh tonnes during the April-October period of the 2022-23 fiscal, from 21.59 lakh tonnes in the year-ago period
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India, which commands 40 per cent share in the global rice trade, exported 21.23 million tonnes of rice in 2021-22 fiscal as against 17.78 million tonnes in the previous year.
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The new norms set by European Commission bring down the maximum residue limit (MRL) level for Tricyclazole (a fungicide) in Basmati rice to 0.01 mg per kg from next year. The norms are applicable on all rice-exporting countries.
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Speaking to CNBC-TV18, Ashwani Kumar Arora, CEO, MD & CFO of LT Foods said shipment to China might start in the next quarter.
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Even if the company does not receive any big order from the government, it will close at minimum growth of 10 percent, says Anil Mittal, CMD of the company.
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In an interview with CNBC-TV18, Satnam Arora, MD of Kohinoor Foods, which reported a mixed set of quarterly earnings, discussed the numbers and shared his outlook on the business going forward.
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The short rain prediction by the Indian Meteorological Department (IMD) is not going to affect Kohinoor adversely as farmers in Punjab UP and Haryana were competent enough to face a situation like that of short rains or drought, Satnam Arora, Managing Director, Kohinoor Foods told CNBC-TV18.
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Rice of India profile power players pushing the Indian rice industry forward. Karan Chanana, Chairman of Amira Group has transformed his family‘s 100 years old rice business into a global food company that is taking the taste and aroma of Indian basmati to plates across the world.
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Satnam Arora, managing director, Kohinoor Foods says he is seeing an uptick in Basmati and long grain rice exports to Thailand.
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The company‘s revenues for the December quarter rose 41 percent year-on-year to Rs 704 crore, operating margins improved to 15.5 percent from 14 percent, and net profit surged two-and-a-half times to Rs 71 crore.
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Soaring basmati prices dont auger well for us because we may not be able pass high price to key export markets like Iran, says Gurnam Arora, Joint MD, Kohinoor Foods.
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In an interview to CNBC-TV18, Gurnam Arora, Joint MD, Kohinoor Foods is confident that the company will see15-20 percent higher crops on back of good monsoon.
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India's most widely grown rice variety Swarna could help to "keep diabetes at bay" by maintain a healthy diet, says a leading rice research organisation.
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India will soon start exporting rice to China as the two countries have resolved the quality and other regulatory issues.
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Anil Mittal, chairman and managing director of KRBL told CNBC-TV18, the company is already in contact with many importers in China, but it expects revenues from exports to China to start flowing gradually.
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The rice company has seen some buying interest today on the back of the some positive news that China has allowed imports on Indian basmati rice, reports CNBC-TV18.
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China has finally allowed imports of basmati rice from India, which comes as a big boost to exporters who would now get access to a huge market of 1.3 billion people for their about 4.5 million tonnes of aromatic rice.
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Due to the minimum export price (MEP) determined by the government, Gurnam Arora, joint managing director of Kohinoor Foods Ltd tells CNBC-TV18 that the industry is taking a hit of almost 30% on exports.
