Photo: Wikipedia Commons
The price of Basmati Rice has soared in the past year because of a dramatic drop in the production and rising demand from other countries. The price has shot up by more than 80 per cent in the past year.
Pulsa basmati, a higher yielding variety has also shot up by around 65 per cent.
According to the Rice Association, prices have risen mostly because the 2012 Indian harvest was up to 40 per cent smaller than in 2011.
The Indian government has also introduced a minimum support price for non-Basmati Rice to encourage farmers to farm other varieties.
Makes you wonder if regular-grain rice will be next to rise dramatically. We will see.
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