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India's basmati Rice exports rose 31.82% to $1.26 billion

India's basmati Rice exports rose 31.82% to $1.26 billion (Rs 8,168 crore) during the April-June quarter of 2017-18, driven by a continued rise in demand from Iran.
The country exported basmati Rice worth $934 million (Rs 6,196 crore) in the same quarter last year.
In quantity terms, basmati Rice exports increased 6.77% to 1.26 million tonnes in the said quarter from 1.18 million tonnes in the same period a year ago.
"Iranian buyers have continued their purchases even during their own Rice harvesting season. That has resulted in an increase in basmati rice exports in April-June," said an Agricultural and Processed Food Products Export Development Authority (Apeda) official.
The average realisation of Basmati surged 28% to $1,009 per tonne this year compared to $787 per tonne last year.