India rice prices up 15% to 25% amid Gulf buying
India
Rice just got a lot pricier in India: basmati and non-basmati varieties are up by 15% to 25%.
Why? Gulf countries are snapping up rice to stock their shelves, especially with the U.S.-Iran conflict making everyone nervous about food security.
Don't expect prices to cool down until the new harvest arrives around October or November.
India's record FY26 exports tighten supplies
India exported a record 6.52 million tons of rice in FY26, but local supplies are tight.
Prices for basmati hover near ₹100 per kilogram, and Sona Masoori has jumped from ₹52 to about ₹64 per kilogram thanks to patchy rains in the south and government buying for public distribution.
Even with some shipping delays, export demand is still strong.