Record Exports
India 2024 basmati rice exports rise 21% to record 5.94 million tonnes
This story was originally published at 16:31 IST on 28 February 2025
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--India's 2024 basmati rice exports at 5.94 mln tn, an all-time high
--India's basmati rice export volume in 2024 up 21% on year
--India's basmati export value in 2024 at $6.19 bln, up 14.3% on year
By Sandeep Sinha
MUMBAI – India's basmati rice exports rose over 21% on year to a record 5.94 million tonnes in 2024, surpassing the previous high of 4.99 million tonnes in 2020, according to data analysed from the commerce ministry. The country exported 4.91 million tonnes of premium aromatic rice in 2023, the data showed.
The value of basmati rice exported in 2024 was $6.19 billion (INR 518.03 billion), an all-time high, up 14.3% on year from $5.42 billion (INR 447.77 billion) in the corresponding period a year ago. However, the average realisation fell to $1,042.65 per tonne last year compared with $1,105 per tonne in 2023. The country's share in global basmati rice exports was 87.2% in 2024, and Pakistan accounting for the rest.
In 2024, Saudi Arabia was the top buyer of Indian basmati rice for second straight year. It imported 1.23 million tonnes, up 17.7% on year from 1.01 million tonnes in 2023. Iraq pipped Iran to emerge as second-top importer, purchasing 929,363 tonnes, up 28.8% on year from 661,600 tonnes in 2023.
Exports to Iran, another key buyer rose just 1% to 736,970 tonnes last year from 728,462 tonnes in 2023.
The aromatic rice exports benefitted from the ban of non-basmati exports and imposition of export duty of 20% on parboiled rice in July 2023 and August 2023, respectively, due to concern about lower paddy acreage and rising rice prices in the domestic market. The ban of non-basmati rice was lifted on Sept. 27 and export duty on parboiled rice was removed on Oct. 23.
India is the largest producer and exporter of basmati rice, accounting for 70% of the world's production. The country produced 9.85 million basmati rice in 2023, according to Agricultural and Processed Food Products Export Development Authority. End
US$1 = INR 87.50
Edited by Akul Nishant Akhoury
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