India to Boost Basmati Exports .

NEW DELHI -- India aims to increase its exports of basmati rice by at least 20% next financial year by selling to two new countries and growing shipments to existing buyers, an adviser to a state-run export promotion agency said Friday.

"With the tourism industry thriving worldwide and Indian cuisine getting popular, we expect to foray into new markets and also raise shipments to non-traditional buyers," said A.K. Gupta of the Agricultural and Processed Food Products Export Development Authority.

India, the world's largest producer of the aromatic, superior rice variety, is heading for record exports of around 2.7 million tons in the financial year that ends March 31. Exports are likely to rise next fiscal year as Mexico has opened up its market to Indian basmati and China is expected to follow suit.

The South Asian nation is also aiming to push sales in relatively new markets such as Japan, Australia, Europe and the U.S. Currently, the United Arab Emirates, Saudi Arabia, Iran and the U.K. are the top four buyers of the premium rice from India.

Mr. Gupta said the country aims to initially export at least 10,000 metric tons of basmati to Mexico next fiscal year. He added that China could emerge as a key buyer once it allows imports from India.

The country's basmati production is estimated to rise to around 4.5 million tons in the current fiscal year from about 3.0 million tons a year earlier after poor monsoon rains last year prompted many farmers to shift to basmati as the premium grain consumes less water.


Source : online.wsj.com