Basmati Rice Prices Remain On The Higher Side

Wholesale prices for Basmati rice are set to remain high after doubling in the last 12 months with demand surging and production costs climbing.

Rising prices for basmati and other varieties of rice have helped to stoke concern about food inflation that has posed a particular threat to poor economies and sparked widespread protests and even rioting in some developing countries.

Record oil prices have also contributed to rising costs.

Prices for other varieties of rice have risen to record highs recently after Vietnam, Egypt and Cambodia banned exports and India also introduced export restrictions.