Ban on export of basmati below $1,200 a tonne

The government on Sunday announced that export of basmati rice below $1,200 (Rs 99,000) per tonne would not be allowed to restrict possible “illegal” shipment of white non-basmati rice in the garb of premium basmati rice. It also said existing contracts below this price have been kept in abeyance.

A committee headed by the chairman of Agricultural and Processed Food Products Export Development Authority will be set up to evaluate the future course of action. The government said due to low price, there was high demand of Indian rice in the international market. The commerce ministry said to check domestic prices and to ensure domestic food security, export of non-basmati white rice was prohibited on July 20. “It has been noticed that despite restriction, rice exports have been high during the current year.”

This article has been republished from The Times of India

Leave a Reply

Your email address will not be published. Required fields are marked *