Basmati rice to remain costlier this year on lower output estimates

The price increase might hurt exports of this aromatic rice which remained a favourable choice for consumers in Iran, Saudi Arabia and European countries.

The prices of Basmati paddy and rice are likely to remain firm this year due to estimates of lower output, following erratic monsoon rain in major growing regions. Data compiled by the India Meteorological Department (IMD) showed the country’s cumulative rainfall this season was 5 per cent lower than the long-period average (LPA), with the northwest region recording 11 per cent less rainfall until September 20. 

According to industry sources, lower rainfall in major Basmati paddy-growing regions not only hit the overall sowing area but also standing plants in the fields. The price increase might hurt the export of this aromatic