Check out the Government’s new rule on basmati rice exports
In a report on Sunday, the commerce ministry stated it had directed the trade promotion body APEDA to abstain from registering deals of basmati rice exports under USD 1,200 per tonne.
The Government has not permitted exports below USD 1,200 per tonne of basmati rice deals to limit possible ”illegal” shipments of white non-basmati rice in the garb of premium basmati rice.
In a report on Sunday, the commerce ministry said it had executed the trade promotion body APEDA to abstain from registering deals under USD 1,200 per tonne.
Existing deals below USD 1,200 per tonne have been held in abeyance. A panel under the chairman of APEDA will be set up to consider future courses of action.
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Aiming to maintain retail prices of rice, the central government has been taking some measures to increase domestic supply.
In September last year, it restricted exports of broken rice, while it set restrictions on non-basmati white rice the previous month. Last week, a 20 per cent export duty was hit on par-boiled non-basmati rice.
With these curbs, India has now levied restrictions on all types of non-basmati rice.
According to the commerce ministry’s report, the government has ordered APEDA (Agricultural and Processed Food Products Export Development Authority) to introduce more safeguards to control the potential illegal exports of white non-basmati rice in the garb of basmati rice.
Source – BT
