Basmati put under minimum export price : vimarsana.com

Basmati put under minimum export price

The Indian government has set a minimum export price of $1,200 per tonne on basmati rice shipments and imposed a 20% duty on non-basmati parboiled rice exports in an effort to control domestic prices ahead of key state elections. The measures come after heavy rainfall and poor crop prospects have affected rice production. These actions effectively curb exports of non-basmati rice varieties, which make up 80% of India's total rice shipments. The government aims to delay shipments and assess expected Kharif rice production by 15 October.

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