China, Mexico, CIS Future Markets For India''s Basmati Rice.

New Delhi, Oct 4 (PTI) India is looking at China, Mexico and the Commonwealth of Independent States (CIS) as new markets for its basmati rice, with a view to expand its share of global trade in this premium aromatic rice variety.

India exported 2.2 million tonnes of basmati rice to more than 100 countries in the 2010-11 fiscal.

India''s share of the global market for basmati rice is 60 per cent, while Pakistan accounts for the remaining 40 per cent. This high quality rice is mainly grown in these two countries.

"India is looking for new international markets for its quality basmati rice in China and Mexico," a senior official of agri-export promotion body Agricultural and Processed Food Products Export Development Authority (APEDA) said.

CIS countries like Russia, Tajikistan, Turkmenistan, Uzbekistan, Ukraine, etc, could be another destination for basmati rice, he said.

India''s basmati rice exports last fiscal were 8 per cent higher than the year-ago period, when the country shipped 2.02 million tonnes overseas.

In India, this rice variety is grown mainly in Punjab, Haryana, Uttar Pradesh and Uttarakhand.

Annual production of the premium aromatic rice presently stands at around 4.5 million tonnes.

Basmati rice fetches a handsome price of USD 1,100 per tonne in international markets, the APEDA official said.

Indian basmati is sold to over 100 countries, including the US, UK, UAE, Iran, Kuwait and Europe.

Source : news.in.msn.com