Iraq impacted by India’s minimum price for basmati rice
Photo: Caelen Cockrum
Baghdad (IraqiNews.com) – India, one of the world’s largest exporter, ships approximately four million metric tons of basmati rice to nations including Iraq, United Arab Emirates, United States, Iran, Yemen, and Saudi Arabia.
In an effort to stabilize local prices ahead of significant state elections, India has introduced a minimum export price of $1,200 per ton for shipments of basmati rice, the government announced on Sunday.
Earlier in July, they had prohibited the export of non-basmati white rice, and subsequently, on Friday, it enforced a 20 percent duty on the export of parboiled rice. However, following the export ban, certain traders were reclassifying non-basmati white rice as basmati to evade the export restrictions, according to an official government statement.
The implementation of the minimum export price is aimed at ensuring that non-basmati rice is not misrepresented as basmati rice during exports, officials stated.
Basmati rice holds significant importance within the food culture of Iraq; a staple in Iraqi cuisine. In Iraq, basmati rice is often paired with various traditional stews. The distinct long grains add a special touch to Iraqi recipes.
Premium, aromatic basmati rice is cultivated exclusively in India and Pakistan.