India’s Basmati Rice Exports to Fall as Pakistan Grows
India’s basmati rice exports are expected to fall in 2024 after hitting a record high last year as rival Pakistan offers the grain at competitive costs amid a rebound in production, industry officials said. India and Pakistan are the leading exporters of premium long-grain rice. known for its aroma, to countries such as Iran, Iraq, Yemen, Saudi Arabia, United Arab Emirates and the United States. India’s basmati rice exports rose 11. 5% year-on-year to 4. 9 million tonnes in 2023, just shy of the record of five million tonnes set in 2020, due to declining materials from Pakistan and storage efforts across cargo countries, industry officials said.
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