Basmati Rice Market 2024: Analyzing Trends & Opportunities
The basmati rice market plays a vital role in the global rice trade and is known for its distinctive aroma, long grains, and premium quality. Originating from India and Pakistan, basmati rice is a staple in many households and a sought-after commodity in international markets.
| Basmati Rice Market Statistics (2024) | Predictions and Insights | Source |
|---|---|---|
| 1. In 2023, India exported basmati rice valued at 9.91 billion USD, marking a 5.4% increase compared to 2022. | With growing global demand for premium rice varieties, India’s basmati rice exports are expected to continue rising, driven by expanding markets in the Middle East and Europe. | Contact us to view the source. |
| 2. In 2023, Pakistan, which contributed approximately 30% of the world’s basmati rice production, exported basmati rice valued at $2.1 billion. | This highlights its significant role in the global basmati market, which accounts for nearly a third of the world’s production. | Contact us to view the source. |
| 3. In 2022, the Indian Agricultural Research Institute (IARI) introduced three new basmati rice varieties: Pusa Basmati-1847, Pusa Basmati-1885, and Pusa Basmati-1886. These varieties are specifically bred to resist bacterial blight and blast disease. | This will likely enhance crop resilience, improve yields, and boost India’s global basmati rice market competitiveness. | Contact us to view the source. |
Basmati Rice Market – Key Takeaways
The basmati rice market is poised for continued growth, driven by rising global demand for premium and healthy food products. India and Pakistan will remain key players, with their export dominance supported by advancements in crop breeding and disease resistance. However, challenges such as climate change, water resource management, and fluctuating trade policies will influence future market dynamics.