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Exports of basmati rice likely to rise

The Indian exporters of basmati rice are in a bouyant mood in view of the bumper crop expected this year.

Basmati exports of about 600,000 tonnes last year were expected to increase by about 100,000 tonnes, according to Gurnam Arora, president, All India Rice Exporters' Association.

Arora said India continued to enjoy the status of leading basmati exporter over Pakistan. The Pakistan's rice prices are lower than the Indian variety, yet India remains the leader.

While Pakistan had a slight edge over India in the Dubai market, Indian basmati dominated in Saudi Arabia by a margin of 80:20.

This was primarily because Pakistan went in for a cross variety of the flavoured rice, while India mainly produced the traditional variety.

Indian exports, Arora felt, could be affected if Pakistan's currency depreciates below Rs 56 to the US dollar.

The Indian export price of around $ 900-1,000 per tonne last year could decrease to about $ 700 with the likely fall in prices due to the bumper crop. Pakistan's basmati price was around $ 500-550.

UNI

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