“Not due to ongoing India-Pakistan tensions, the Basmati prices have gone up recently. Prices rose slightly because of higher demand from Saudi Arabia, Iran and Iraq,” Goel told PTI.
The trade has not been affected so far and the orders are being fulfilled smoothly, he added.
AIREA former president Vijay Sethia said in September 2024, Basmati rice, particularly the 1509 variety, were ruling high at Rs 62 per kg. Thereafter, prices dropped mainly due to a bumper crop arrival. Large arrivals of 1509 paddy as well as other Basmati varieties in major producing regions led to downward pressure on prices.
The prices of the 1509 paddy variety were ruling down at Rs 52 per kg till February.
However, the rise in demand in March pushed the prices slightly upward to Rs 58 per kg, but noted that the prices are still ruling below the September 2024 level.
“It has nothing to do with the ongoing tension between the two nations,” Sethia noted.
India exported around 6 million tonnes of Basmati rice in 2024-25, while Pakistan shipped around 1 million tonnes. PTI LUX DRR DRR