RICE EXPORTING COMPANIES RALLY

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RICE EXPORTING COMPANIES RALLY
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RICE MARKET FOR INDIA

• When Iran lifted the ban on Basmati import from
  India, the share price of firms involved in
  basmati rice grew 18 percent. The contribution of
  Iran in global basmati exports of India is
  one-third. The shares of Kohinoor Foods grew from
  17.75 percent to almost Rs 51.40 a unit. KRBL and
  LT Food reported respectively a growth from 8 and
  13.12 percent to almost Rs 224.7 and Rs 260.30 a
  share. In the past few years, Iran banned
  unilaterally the import of Basmati rice from
  India because of high imports.

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Rice import from India

• The government of Iran stopped releasing permits
  of rice import from India. However, India
  exporters kept following past orders while new
  ones dried up. This led to a significant decline
  in the rice exports of India to Iran. The joint
  managing director of Kohinoor Foods said that
  this new decision is very good since India would
  experience a considerable growth in export of
  basmati rice to Iran.

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Largest importer of the world

• Iran is the largest importer of the world for
  aromatic rice. Kohinoor Foods is the exporter and
  produces of basmati rice branded Kohinoor.
• Trade sources said that the hostile political
  relations between Iran and India are behind the
  fall of rice import of Iran from India. Recently,
  Iran started importing basmati rice from Pakistan.

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Director of All India Rice

• The executive director of All India Rice
  Exporters Association, Rajan Sundareshan, said
  that the comeback of Iran to India market would
  improve the basmati rice exports of India.

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