Flood-hit India, Pakistan face rising prices for basmati rice amid crop losses

the Middle East, and the United States. Floods have severely affected the crop, but with waters now receding, losses are expected to remain limited provided there is no additional rainfall, said Nitin Gupta, senior vice president at Olam Agri India. India’s northern states of Punjab and Haryana contribute over 80% of the country’s total basmati rice production, while Pakistan’s Punjab province accounts for more than 90% of its output. Heavy rainfall in late August and earlier this month caused the Ravi, Chenab, Sutlej, and Beas rivers to overflow, flooding these regions. Initial assessments indicate that crops such as paddy, cotton, and pulses on nearly one million hectares were affected in Punjab and Haryana, said an Indian government official. In Pakistan’s Punjab province rice, sugarcane, corn, vegetables, and cotton on thousands of hectares were submerged earlier this month. The floods have hit farmers hard, just as crops such as basmati rice and cotton were nearing harvest, ...