Basmati rice - Exports affected by Red Sea

At present, export deals for Basmati variety of rice are pending, but exporters are holding back from making shipments due to disturbed sea routes. On the other hand, keeping in mind the rising price of rice, the government has instructed the traders not to hoard it, due to which there has been a downward trend for the last fortnight. Although the markets have come to a standstill after the recession due to cost of milling, but due to unfavorable domestic and export demand, there is no increase in the market for a few days, whereas in coarse rice, goods from Bihar, Bengal, Jharkhand and Chhattisgarh are continuously arriving in the markets. Market is expected to remain bearish in the coming days.

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