India to resume Basmati rice export to Iran
According to AIREA, India will resume Basmati rice export to Iran from the upcoming week.
The President of All India Rice Exporters Association Vijay Setia said that the association expects Iran to call for rice imports in January similar to last year. India exports 4 million tons of rice to various countries the most important of which are Iran, Saudi Arabia, Kuwait, the United Arab Emirates, the US and the UK. In sum, 20% to 25% of Indian rice goes to Iran annually.
According to Indian rice exporters, the price for rice in international markets has risen by 20% compared to the previous year.
The Executive Director of AIREA R. Sundaresan said that Iran will probably issue the permit for India to export rice to that country and added that the price for Basmati rice in international markets is 900 dollars for 1,150 tons, a price which is 15 to 20 percent more than last year.
He said that the reasons for the increase in rice price are the poor rice harvest in India and increase in crude oil price in international markets.
The domestic demand for rice in Iran is estimated to be 2,400,000 tons, 1 million and 400 tons of which is supplied through domestic production and the rest through import from numerous countries such as India, Pakistan, Uruguay and others.
Basmati rice, which has created a profitable market for exporters, is one of the biggest agricultural products in India, while Iran is one of the major consumers of this product.