Vijay C Roy
Tribune News Service
Chandigarh, August 7
At a time when a lot of the companies are hit by the Covid, basmati exports registered round 16% development by way of quantity and 14% in worth (in greenback) throughout April-May this yr as in comparison with the corresponding interval final yr.
According to Agricultural and Processed Foods Exports Development Authority (APEDA) knowledge, basmati exports in April-May 2020 was round 8.64 lakh tonnes as in comparison with 7.45 lakh tonnes through the corresponding interval final yr.
The improve in exports is more likely to profit farmers of Punjab and Haryana that account for over 70-75% of basmati exports from the nation. Other main basmati-growing states embody western UP, Uttarakhand, J&Okay, Himachal and Delhi. These states contribute 25-30% to the whole exports.
However, in accordance with exporters, the shipments caught in March have been exported in April and May and this led to the surge in export numbers.
“The increase in exports in the first two months of the current fiscal is due to the fact that most of the shipments scheduled for March were stuck due to logistical disruptions following the virus outbreak and were cleared only in April and May,” mentioned NR Gupta, president, All India Rice Exporters’ Association.
Further, value-wise, exports elevated by 13.86% to $932 million (Rs 6,488 crore) as in comparison with $819 million (Rs 5,451 crore) in 2018-19. Basmati accounts for practically 32% of exports beneath the APEDA basket and it’s the largest exported commodity. In rupee phrases, the rise in worth was to the tune of 19%. The improve in exports in rupee phrases was increased than in greenback primarily due to weaker rupee.
However, the common per-tonne realisation witnessed a slight lower of round 2% at $1,079 per tonne in comparison with $1,098 per tonne within the corresponding interval earlier yr.