Kohinoor Foods surges 20%; LT Foods jumps nearly 7%
stocks were in heavy demand on Monday, with Kohinoor Foods surging 20 per cent, after the government said the USD 950 per tonne minimum export price (MEP) on basmati rice has been removed. At close of trade, shares of Kohinoor Foods surged 20 per cent, LT Foods jumped 6.70 per cent, KRBL climbed 5.87 per cent and Chaman Lal Setia Exports went up 1 per cent on the BSE.
Intra-day, LT Foods surged 9.72 per cent, KRBL soared 7.67 per cent and Chaman Lal Setia Exports rallied 5.92 per cent.
The government on Friday said the USD 950 per tonne minimum export price on basmati rice has been removed.
Commerce and Industry Minister Piyush Goyal said the move will help boost exports and increase farmers' income.
«It has been decided to remove current minimum export price (MEP) of USD 950 MT for issuing Registration-cum-Allocation Certificates (RCAC) for export of Basmati Rice,» according to a communication from the Department of Commerce.
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