Govt maintains basmati rice floor price $1,200 per ton as grain export curbs continue

Here we are sharing a piece of big news with you the floor price set on basmati rice exports will continue to remain in the area because the government has determined on 14 October 2023 to raise curbs on the shipments of the widely consumed food grain. Since the news came on the internet it has gone viral on social media platforms. Currently, this news has been gaining huge attention from the people as lots of people are super curious to know about the whole information about the news. Here we have more information about the news and we will share it with you in this article.

basmati rice

Since the news has come on the internet and now it is gaining huge attention from the people and now many people are super curious to know the complete information about the news. The minimum export cost (MEP) or floor cost for basmati rice export will continue to be $1,200 per ton. The MEP was declared in August, in the backdrop of retail food inflation peaking at 11.51% in the prior month. The rule, desired to control domestic food costs, also arrives in the run-up to the five-state Assembly elections later this year. Scroll down to the next page for more information about the news.

According to the report, the MEP, apart from imposing a minimum price for shipments, also assists in averting basmati rice being shipped as basmati rice. Notably, India banned the exports of nonbasmati white rice in July 2023. The government, via an official statement issued on 13 October also raised the export duty of 20% on parboiled rice till March 2024. Currently, this news has been gaining huge attention from the people. You are on the right page for more information about the news, so please read the complete article.

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As far as we know, the limitation on the export of parboiled rice- a reference to rice that partially boiled along with its husk- was announced in August. It was scheduled to expire on 16 October, but the government had determined to extend the curb. The Centre is taking such decisions that have been aimed at keeping a check on domestic costs and availability of rice and added a 20% duty on non-basmati rice exports apart from parboiled rice. However, the ban was lifted in November 2023. Here we have shared all the information that we had if we get any information about the news. Stay tuned to us for more updates.

Mark
Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.