Floor price for basmati rice exports to remain as govt extends curbs
retail food inflation peaking to 11.51 percent in the preceding month. The restriction, aimed at controlling the domestic food prices, also comes in the run-up to the five-state Assembly elections later this year. The MEP, apart from imposing a minimum price for shipments, also helps to prevent non-basmati rice being exported as basmati rice.
Notably, India had banned the exports of non-basmati white rice in July this year. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! The government, via an official notification issued on October 13, also extended the export duty of 20 percent on parboiled rice till March 2024.
The restriction on the export of parboiled rice – a reference to rice that this partially boiled along with its husk – was announced in August. It was scheduled to expire on October 16, but the government has decided to extend the curb. The Centre has been taking such decisions that are aimed at keeping a check on domestic prices and availability of rice.
Read more on livemint.com
