AMN WEB DESK
The Centre on Sunday imposed conditional curbs on basmati rice export too, according to a notification.
The Union government has temporarily halted export of any basmati rice consignment being sold overseas for less than $1200 a tonne, while shipments contracted above that price threshold will continue to be allowed, according to an order issued on Saturday.
The new measure temporarily halts all basmati rice exports contracted at a price lower than $1200 a ton
The new measure temporarily halts all basmati rice exports contracted at a price lower than $1200 a ton
The move would slow down the export of one of India’s most sought-after, high-value export items. The country shipped basmati rice worth over $4.79 billion in 2022-2023, mostly to the Middle-east and the US.
Battling persistent high food prices, the world’s largest exporter of the grain had banned the export of all grades of non-basmati white rice on July 20, sending global prices to a 12-year high, as measured by the Food and Agriculture Organisation (FAO) rice price index. The fresh curbs on basmati export are likely to accelerate global prices further.
