Jasmine rice export from India to Iraq
Published on: January 31, 2022.
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Iraq is a major rice importer in the Middle East and the only source in the region to receive substantial resources from Asian and Western Hemisphere suppliers. This year, however, Iraq has purchased almost all of its rice from India, which has more than 80 percent market share as of August.
While Iraq has so far been able to import nearly 700,000 tonnes, its 2020 imports have stalled significantly due to the economy struggling with low oil prices. With low overall imports, tight market competition has made India the largest rice exporter in Iraq.
Most of Iraq’s imports from India are basmati, a popular fragrant rice (jasmine rice) similar to locally grown rice, amber. The rest of the rice purchased is usually long-grain milled white rice, small quantity purchase is medium grain milled white rice. As basmati rice becomes more popular, Iraq’s imports of Indian basmati rice, which were less than 20,000 tonnes a decade ago, have risen to more than half a million this year.
Although the price of basmati is significantly high as compared to white rice, the difference between the price of basmati and the price of white rice has come down this year. The private sector has been able to sustain these imports due to the relatively low prices of basmati and the consumers still prefer the taste of jasmine rice.
In addition to basmati rice from India, Iraq also imports jasmine rice from Vietnam to meet its demand for aromatic rice(fragrant rice). However, with Vietnam banning rice exports earlier this year, India regained and retained Vietnam’s lost market share.
Source: https://thedogoodpress.com/business/2268/jasmine-rice-export-from-india-to-iraq/
