Indian Basmati rice has witnessed a growth in its export by 32 percent, says ICRA. This occurs after a three-year consecutive decline in the basmati export.
While the 25 per cent increase was due to better price realisation, the rest was due to increase in volumes, ICRA said in a release. The rating agency said it expects the total volume of basmati exports from the country to be 4.1 million tonnes (mt) in the current fiscal, which is an increase of 4 per cent over the previous year.
Export value, on the other hand, is expected to be around ₹26,000 crore in 2017-18 — up 21 per cent from the previous financial year.