India's Basmati output to shrink after 4% acreage decline
India
India's Basmati rice output is expected to shrink this year, mainly because farmers in western Uttar Pradesh and Haryana are planting less, about 4% less area than last year, according to industry sources.
While last year saw around 10 million tons produced, this drop could actually help exporters score better prices in big markets like the Middle East.
Punjab acreage steady, basmati prices up
Punjab isn't following the trend: it's kept its Basmati acreage stable, which might help balance out some of the loss from other states.
Meanwhile, Basmati prices are up by 15% to 20% compared with last year, with strong demand pushing quoted at $1,160 a ton.
So even with less rice on hand, India's still making waves in global markets.