India sees big jump in rice exports

KRBL Ltd, India's largest aromatic basmati rice exporter, said on Friday it expects to lift rice exports by 85 percent this year to 300,000 tonnes, as it steps up sales to South Africa and the Middle East. "The main growth is likely to come in the non-Basmati rice segment," Anil K. Mittal, chairman and managing director of the company, told Reuters on the sidelines of a news conference. KRBL shares jumped as much as 11 percent to 147.50 rupees on the, while the benchmark Bombay share index was up 0.31 percent.
The company plans to export 120,000 tonnes of basmati rice and 180,000 tonnes of non-basmati rice in the current year to March, sharply up from 92,000 tonnes and 70,000 tonnes respectively in the previous year, New Delhi-based Mattel said.
Mittal said India exported 1.68 million tonnes of non-basmati rice and 900,000 tonnes of basmati rice last year.