Floods in India could raise basmati prices
Massive floods just hit Punjab, submerging about 150,000 acres of basmati rice fields in India's main growing region.
Since India supplies over 65% of the world's basmati, prices have already jumped 8-10%, and countries like those in the Middle East could see another 5-7% hike soon.
Farmers are working hard to bounce back for next season
Flooded fields mean delayed harvests and slower shipping, so short-term disruptions or supply hiccups might be on the way.
The good news: many importers keep backup stocks to soften the blow.
Meanwhile, local farmers—backed by crop insurance and with support from ongoing research into flood-resistant seeds—are working hard to bounce back for next season.
Demand for basmati is still rising globally, so these recovery efforts really matter for keeping your favorite rice dishes on tables worldwide.