Basmati prices up on higher demand, not due to India-Pak tensions: AIREA

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Basmati prices up on higher demand, not due to India-Pak tensions: AIREA - Business Standard

Quick Summary:

All India Rice Exporters Association President (AIREA) Satish Goel on Friday ruled out any impact on Basmati trade, stressing that the recent increase in prices of the commodity is owing to higher demand and not due to the ongoing India-Pakistan tensions.

The export price of Basmati rice varieties --1509 and 1718 -- have inched up slightly since March due to rise in demand and not due to supply disruptions caused due to ongoing military escalations between the two nations, he said.

Prices rose slightly because of higher demand from Saudi Arabia, Iran and Iraq," Goel told PTI.