Comparative Analysis of the Price Variations of Basmati Rice: Understating International and India’s Market Successes (1988-2018)

Basmati Rice, a premium variety of rice, plays a crucial role in India's food security and agricultural exports. This study examines the price trends of Basmati Rice in India and internationally, using secondary data from various government sources spanning three decades (1988-89 to 2017-18). The results show a significant upward trend in domestic and international prices, driven by demand and supply dynamics, government policies, global market trends, and production costs. The study highlights the importance of understanding these factors to ensure sustainable growth and development of the Basmati Rice industry. The findings have important implications for policymakers, farmers, and industry stakeholders, emphasizing the need for effective marketing strategies, efficient supply chain management, and supportive government policies. The study's results also underscore the importance of continued research and analysis to identify opportunities for further growth and development in the Basmati Rice sector.