India exported $656 Mn worth of basmati rice in Jan 2024
India is the world’s leading rice exporter. The global supply chain is highly dependent on India’s rice exports. That is the reason why the global market was highly affected by India's rice ban recently. In January, India began its rice exports on a positive note. According to India import export data , around $969 million worth during January 2024. Whereas, in 2022, India’s rice exports were $1.2 billion. Although, the slight decrease in India's exports declined due to restrictions imposed by the Indian government. Whereas, in 2023, India exported nearly 16.5 million tons of rice. The overall rice exports by India was estimated to be $9.4 billion during last year. As per India export data reports, India’s basmati rice exports hit a record $656 million in January 2024. Saudi Arabia, Iraq and Iran were the top 3 basmati rice importing countries from India responsible for 26%, 20% and 10% market share respectively. Saudi Arabia imported nearly $176 million worth of ric...