Spiraling basmati rice prices hit Kuwaiti families hard
The local rice importers attribute the spiralling price to increased demand for the food grain in India, from where most of the rice is imported.
By PTI |
DUBAI: Steep rise in prices of Basmati rice, a major part of staple food here, has hit the Kuwaiti families hard.
The local rice importers attribute the spiralling price to increased demand for the food grain in India, from where most of the rice is imported.
"With the increase in demand for rice around the world, companies have increased its price. As a result, a tonne of rice that costed USD 700 earlier, is now priced at USD 1,000. There has been an increase of 40 per cent in the price during last one year," Mohammad Al-Hamid, a rice importer, told a Kuwaiti news agency.
However, the price rise was less severe in Kuwait as compared to the neighbouring Gulf states, he said.
To make things worse, there are reports indicating that Iran has imported a large amount of rice after its own produce this year was affected by unfavourable weather conditions.
Being one of the most contentious issues, a special parliamentary session was held last week to take stock of the situation.
It recommended raising subsidy of food grains and setting up of a committee to supervise the performance of cooperative societies.
India is a favoured destination for the import of rice among Gulf nations.
The local rice importers attribute the spiralling price to increased demand for the food grain in India, from where most of the rice is imported.
"With the increase in demand for rice around the world, companies have increased its price. As a result, a tonne of rice that costed USD 700 earlier, is now priced at USD 1,000. There has been an increase of 40 per cent in the price during last one year," Mohammad Al-Hamid, a rice importer, told a Kuwaiti news agency.
However, the price rise was less severe in Kuwait as compared to the neighbouring Gulf states, he said.
To make things worse, there are reports indicating that Iran has imported a large amount of rice after its own produce this year was affected by unfavourable weather conditions.
Being one of the most contentious issues, a special parliamentary session was held last week to take stock of the situation.
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It recommended raising subsidy of food grains and setting up of a committee to supervise the performance of cooperative societies.
India is a favoured destination for the import of rice among Gulf nations.
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