Global Rice News

Pakistan Emerges as Competitor in Basmati Rice Market as India’s Exports Decline

In the global basmati rice market, Pakistan is expected to see a surge in exports while India’s exports are anticipated to decline in 2024. This shift is mainly attributed to Pakistan’s competitive pricing, which is made possible by increased production.

Both Pakistan and India are renowned exporters of premium long-grain basmati rice, known for its exquisite aroma and flavor. These two countries supply basmati rice to various nations such as Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates, and the United States.

India experienced a remarkable growth in basmati rice exports in 2023, with a 11.5% increase to reach 4.9 million metric tons. Although this fell slightly short of the record high achieved in 2020, it still brought substantial revenue to India, the world’s largest rice exporter.

However, Pakistan’s increased production has allowed them to offer competitive prices in comparison to India. This shift in market dynamics has positioned Pakistan as a strong competitor. In the 2023/24 financial year, Pakistan’s total rice exports are projected to reach 5 million tons, marking a significant increase from the previous year.

Furthermore, the depreciation of the Pakistani rupee has further boosted the competitiveness of their exports.

In contrast, India has faced a decline in export demand, despite a 10% increase in basmati rice production. This has led to a drop in prices for Indian basmati rice.

Challenges faced by India include government-imposed minimum export prices and fluctuations in freight costs. Meanwhile, Pakistan has maintained consistent pricing and improved production, allowing it to solidify its position in the global basmati rice market.

Sources:
[Pakistan Rice Exporters](https://www.hasrice.com)
[White Broken Rice](https://www.brokenrice.com)
[Pakistan Rice](https://www.pakistanrice.com)
[Rice Suppliers](https://www.hasrice.com)
[Rice Exporters from Pakistan](https://www.hasrice.com)
[25% Broken Rice](https://www.hasrice.com/pakistan-rice-suppliers/irri6-rice-exporters/white-rice-25pct-broken/)
[Pakistan Rice Supplier](https://www.hasrice.com)
[Pakistan Rice Companies](https://www.hasrice.com)
[Rice Mills in Pakistan](https://www.hasrice.com)
[Rice Business in Pakistan](https://www.hasrice.com)
[Rice Suppliers Pakistan](https://www.pakistanrice.com)
[Pakistani Rice Prices](https://www.hasrice.com/pakistan-rice-prices/)
[Irri 6 Rice Price](https://www.hasrice.com/pakistan-rice-prices/)
[Basmati Rice Price List](https://www.hasrice.com/pakistan-rice-prices/)
[Rice Export from Pakistan](https://www.hasrice.com)
[Pakistan Rice Export Prices](https://www.hasrice.com/pakistan-rice-prices/)
[Rice Exporters in Pakistan](https://www.hasrice.com/pakistan-rice-exporters/)
[Irri 6 Rice Exporters Pakistan](https://www.hasrice.com/pakistan-rice-suppliers/irri6-rice-exporters/)
[Rice Suppliers in Karachi](https://www.hasrice.com/pakistan-rice-export-company/)
[Basmati Rice Pakistan](https://www.hasrice.com/pakistan-rice-suppliers/1121-basmati-rice-exporters/)
[Broken Rice Exporters](https://www.hasrice.com/pakistan-rice-suppliers/irri6-rice-exporters/white-rice-100pct-broken/)

Source: Source