India: Govt lifts curb on non-basmati white rice exports and removes floor price

Published 2024년 10월 23일

Tridge summary

The Indian government has removed the minimum export price (MEP) of USD 490 per tonne on overseas shipments of non-basmati white rice, in an effort to boost exports of the commodity. This decision comes after the government previously scrapped the MEP on basmati rice and lifted a ban on exports of non-basmati rice to promote farmers' income and manage the country's ample rice stock. Despite the ban, India continued to allow shipments of non-basmati white rice to friendly countries like the Maldives, Mauritius, the UAE, and African nations. The country exported non-basmati white rice worth USD 201 million from April to August of the current fiscal year, with a significant increase from USD 852.52 million in the 2023-24 fiscal year.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

New Delhi, Oct 23 (PTI) The government on Wednesday removed the minimum export price (MEP) of USD 490 per tonne on overseas shipments of non-basmati white rice, a move aimed at promoting shipments of the commodity. On September 28, the government withdrew a blanket ban on overseas shipments of non-basmati white rice and imposed the floor price. The government had imposed a ban on exports of non-basmati rice exports on July 20, 2023. These measures came at a time when the country has ample stock of rice at government godowns and retail prices are also under control. Earlier, the government scrapped the minimum export price for basmati rice to boost outbound shipments and enhance farmers’ income. The country exported non-basmati white rice worth USD 201 million during April-August this fiscal. It was USD 852.52 million in 2023-24. Though there was a ban on the exports, the government was allowing the shipments to friendly nations like Maldives, Mauritius, the UAE and African ...
Source: Theprint

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