TEHRAN: After a sluggish beginning in the first half of the current fiscal, realisation from India’s basmati rice exports is likely to rise in the next couple of months, with Iran likely to resume rice imports shortly. Official sources told The Financial Express that the realisation from the exports of aromatic and long-grain rice rose to $800 a tonne last month from $750 a tonne prevailing in the last couple of months. A commerce ministry official said that export realisation could reach $900 a tonne in the next couple of months because of lesser supplies due to lower production and firming up of global demand.
Iran, the biggest export destination for India’s basmati rice, is likely to resume imports of rice shortly. The government is sending a trade delegation to Iran later this month for working out modalities for rice exports. According to official data, in the current fiscal, the volume of basmati rice exports to Iran has been around 4.6 lakh tonnes, which was essentially from contracts agreed upon in the previous financial year. The volume of basmati rice exports to Iran had crossed a million tonne (mt) mark in in FY15.
