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Basmati exports touch a new high
By agencies
|
Tuesday, 19 April 2005, 19:30 IST
NEW DELHI:Basmati rice export from India is poised to cross the one million-tonne-mark for the first time, with exports in value terms slated to touch 
2,000 crore in FY05.
The basmati export till January this year touched nearly eight lakh tonne as against nine lakh tonne during '03-04. One of the distinguishing features of basmati export has been its enhanced demand from the U.S. buyers.
The emergence of U.S. as a leading importing country is an encouraging happening for the domestic rice exporters, a rice exporter said.
According to the estimates of U.S. Department of Agriculture, Exports by India are projected to steadily rise over the next decade as its high internal prices stimulate production and exportable supplies.
Global rice trade is projected to average a 2.3 percent annual growth rate from '05 through the end of decade, according to the projection.
The U.S. demand for basmati rice originates mainly from the Asian community living there. In the U.S., increasing domestic demand coupled with slower growth rate in yields is expected to boost prospect of rice exports including from India.
2,000 crore in FY05.
The basmati export till January this year touched nearly eight lakh tonne as against nine lakh tonne during '03-04. One of the distinguishing features of basmati export has been its enhanced demand from the U.S. buyers.
The emergence of U.S. as a leading importing country is an encouraging happening for the domestic rice exporters, a rice exporter said.
According to the estimates of U.S. Department of Agriculture, Exports by India are projected to steadily rise over the next decade as its high internal prices stimulate production and exportable supplies.
Global rice trade is projected to average a 2.3 percent annual growth rate from '05 through the end of decade, according to the projection.
The U.S. demand for basmati rice originates mainly from the Asian community living there. In the U.S., increasing domestic demand coupled with slower growth rate in yields is expected to boost prospect of rice exports including from India.