Robust demand from Europe, which buys 10 per cent of the total Basmati rice exported from India, could ensure better returns for Indian farmers this year. This, coupled with the likelihood of Iran lifting its ban on basmati imports from India soon is likely to hike prices further by 5 per cent to 10 per cent. Farmers are getting 40 per cent-50 per cent higher prices for their basmati varieties at Rs 3,000-3,500 per 100 kg this year compared to the same period last year. Exports to European countries have been on the rise over the past few months. This is good news for the industry and farmers. Current prices are 40-50 per cent higher than the same period last year.