Farmers in Haryana, Punjab, and western Uttar Pradesh are facing a loss of ₹8,000-10,000 per acre due to the government's decision to set a minimum export price of $1,200 per tonne for basmati rice. Prices of the new crop have dropped by ₹400 per quintal in the past week. Millers and exporters are pressuring farmers to sell at a lower price in anticipation of the government removing the minimum export price after October 15.
(Bloomberg) -- China warned that Haikui will bring heavy rains to regions in its south and east as concern lingers about the cyclone’s impact on farming with rice prices already soaring. Most Read from BloombergHuawei Teardown Shows Chip Breakthrough in Blow to US SanctionsMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadDiamond Prices Are in Free Fall in One Key Corner of the MarketWhy China Is Avoiding Using ‘Bazooka’ to Spur EconomyWeather authorities issued a yellow rain alert Tuesday
There is good reason to believe that fiscal policy can play a positive role in controlling inflation via an intervention on the fuel prices front. | Latest News India
ban on exports, hopefully there should be more for supply internally. in theory, therefore, domestic indian rice prices should start coming down. then they are going to want to see how the recent monsoons are doing in terms of plantations and the prospects for the next rice crop. if they feel comfortable that the crop is going to be big and big enough to replenish stocks for the next season, then they are going to say, ok, panic over, we can resume as 0k, panic over, we can resume as normal, we can let the rice exports continue and everything should be normalised. it is a bit concerning, the yield side of things.— normalised. it is a bit concerning, the yield side of things. thank you very much. _ the yield side of things. thank you very much, kona. _ the yield side of things. thank you very much, kona. we _ the yield side of things. thank you very much, kona. we really - very much, kona. we really appreciate your time. we are going to bring the panel back in now, lets up to bring the panel back in now, lets up with steve hanke, what is your assessment of this situation? first of all, i assessment of this situation? first of all. i thought — assessment of this situation? first of all, i thought your _ assessment of this situation? first of all, i thought your guest did a nice summary of the situation. the real problem with bands —— mike bans