Vijay C Roy Tribune News Service Chandigarh: Basmati emerged as the top exporting agri item in the Indian commodity basket, surpassing buffalo meat, in the first quarter of the current fiscal. Reasons: An increased buying from Iran and higher per unit realisation.
During the April-June period, basmati contributed 29% to the country’s agricultural and processed food product exports value-wise, followed by buffalo meat (19.33%).
According to Agricultural and Processed Food Products Export Development Authority data, basmati exports for the Q1 stood at 12.56 lakh tonnes compared to 11.86 lakh tonnes during the corresponding period of the last year.
Though it witnessed a 6% rise volume-wise, thanks to better realisation, the value-wise growth was 32%. The total value of the exports stood at Rs 8,168 crore during the period compared to Rs 6,196 crore during the previous period.
As against per tonne realisation of around $787 during the previous year, basmati has commanded an average price of $1,009 per tonne in the Q1 this year.
“An increased demand from Iran has pushed up export volume of Basmati. The increase in value was because of better realisation,” said Gurnam Arora, Joint Managing Director, Kohinoor Foods.
Beats buffalo meat
During the April-June period, basmati contributed 29% (Rs 8,168 crore) to the country’s agricultural and processed food product exports value-wise, followed by buffalo meat (19.33% or Rs 5,473 crore)
Source: Tribuneindia.com
