Likely GI tag in EU seen to boost India’s basmati rice exports

Published 2021년 5월 14일

Tridge summary

An upcoming geographical indications (GI) agreement with the European Union (EU) is expected to boost India's basmati rice exports from $250 million to $500 million in 1-2 years, as price realization is expected to increase due to the quality-conscious consumers. The agreement will ensure the maintenance of the authenticity of pure basmati. However, there may not be a significant increase in volume in the short term unless efforts are made to find buyers in countries other than the UK. India and the EU have agreed to enhance their bilateral trade and investment relationship.

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Original content

By Prabhudatta MishraAn imminent agreement on the geographical indications (GI) with European Union (EU) could boost India’s basmati rice exports to $500 million in 1-2 years from the current $250 million as realisation is expected to increase with the quality-conscious consumers, officials say.However, independent observers said the shipments might not see any significant increase in volume in the short term unless there are concerted efforts to find buyers in countries, other than the United Kingdom (UK). However, price realisation will see an improvement with GI as the authenticity of pure basmati will be maintained.India had exported $ 245.4 million worth of basmati rice to EU countries (including the UK) during April-January of FY21, up from $ 207 million during the entire 2019-20. The share of the UK in terms of volume has been nearly half in the total shipments of basmati sent to the EU region and the country also among the top 10 destinations of export of the aromatic ...

Source: Financialexpress