India's basmati rice exports to fall as Pakistan's surge

India's basmati rice exports are expected to decrease in 2024 due to increased competition from Pakistan, which is offering the grain at more competitive prices. In 2023, India's basmati rice exports reached 4.9 million metric tons, just shy of the record high in 2020, leading to record revenue of $5.4 billion. However, Pakistan's increased production and lower prices are impacting India's export prospects
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