India Basmati export orders up 43.75% in April-Dec

Basmati rice export contracts during the first nine months of this fiscal crossed 23 lakh tonnes, posting 43.75 per cent growth, over 16 lakh tones in the same period previous year, on the back of high demand for the Pusa 1121 variety and lowe r benchmark price.

According to APEDA, in the entire 2008-09 fiscal, export contracts stood at 23 lakh tonnes.

Basmati rice export is calculated on the basis of the export orders registered with APEDA as the data on actual shipments come much late.

"In the next three months, six to seven lakh tonne more contracts may be registered, taking the total export to 29-30 lakh tonnes," said the All-India Rice Exporters' Association former President, Mr Vijay Setia.

Asked about the actual shipments, he said below two per cent contracts may not be executed in the current fiscal as there is good demand for the Indian variety of the grain.

Mr Setia noted that the Pusa 1121 variety, which was declared as Basmati in 2008, has a share of 60-65 per cent in the overall exports.

Traders said the Pusa 1121 variety is being contracted at $1,500 a tonne. The export price was about $900 a tonne in October 2008, when the new crop started arriving in the market.