Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
basmati
Iran – the biggest buyer of Indian basmati – is expected to resume imports of the aromatic rice after July, officials said. Iran had banned rice imports mid-November last year to protect the interests of local growers on higher domestic output and stocks.
“We are getting feelers from various stakeholders that imports from Iran are likely to resume after Ramzan. However, there is no written communication from them so far,” said AK Gupta, Advisor, Agricultural and Processed Foods Export Development Authority (Apeda).’
Indian shipmentsIran imported about 9.35 lakh tonnes of basmati in 2014-15, accounting for about a fourth of the Indian shipments. India had exported a total of 11.65 million tonnes (mt) of rice in 2014-15, of which basmati accounted for about 3.78 mt.
In fact, the shipments to Iran declined by 35 per cent in 2014-15 over previous year’s 14.40 mt, largely due to the curbs imposed by the largest buyer of the Indian basmati.
Gupta said demand from other markets – mainly in West Asia, Europe and the US grew by around 20 per cent, which has helped offset the impact of Iran ban on exports.
Also, the domestic consumption of basmati rice is on the rise.
Irani marketBasmati shipments rose marginally to 3.78 mt in volumes during 2014-15 over previous year’s 37.57 mt. “We expect the shipments to increase by 10-15 per cent this year,” Apeda’s Gupta added.
Rice exporters are hopeful that Iran would open up the market for basmati to meet its consumption. The Iranian rice consumption is estimated at around 3 mt a year, of which their domestic production is pegged at around 2 mt.
“Iran has to purchase around one million tonnes of rice to meet their domestic demand and India has a major share in their imports,” said Rajen Sundaresan, Executive Director, All India Rice Exporters Association.
Acreage may riseRice exporters expect the basmati acreage to increase at least by about 5 per cent in the upcoming kharif season over previous year’s 2.1 million hectares, Sundaresan said.
Farmers in the key basmati growing States of Punjab, Haryana, Uttar Pradesh and Madhya Pradesh are expected to plant more basmati in anticipation of better returns.
Besides, the Punjab Government’s move to encourage farmers to plant more basmati, which consumes less water when compared to the normal rice crop, is also expected to help boost the acreage.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Citroen’s first vehicle sports a novel design and European interiors. It is also meant to be as comfortable as ...
The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national ...
The government is yet to specify the framework of its recently announced old vehicle scrappage policy
Here is a checklist that equips you to discern the market nuances
Sensex, Nifty 50 have witnessed sharp decline
The fund has consistently outperformed S&P BSE 100 TRI over one, three and five years
Returns are superior to immediate annuity plans, but SCSS can secure better rates for new investors sooner if ...
They are the health warriors who battled the Covid-19 pandemic on the ground, and are now the face of the ...
Creator of the world’s biggest art canvas hopes to help children in poorer countries
A book on Badri Narayan is a tribute — albeit a belated one — to an artist who did not enjoy the recognition ...
The country hasn’t had a quiet moment since the military seized power on February 1
Its name is the starting point of a brand’s journey and can make a big difference in the success sweepstakes
Sober spirits are the in thing
A peek into where ad spends went last year and where they are headed tomorrow
Can Swiggy Instamart disrupt the ecommerce groceries space, currently ruled by the Amazons and Big Baskets? ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor