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146

India imposes curbs on basmati rice exports; contracts with value below $1200 a ton temporarily halted (economictimes.indiatimes.com)

submitted 1 year ago by mwalimu@baraza.africa to c/worldnews@lemmy.ml

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India has imposed restrictions on the export of basmati rice, following the imposition of a 20% duty on parboiled rice. The government has set a minimum export price of $1,200 per ton for basmati rice shipments. Contracts below this price will be put on hold and evaluated by a committee.

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[–] mdd@lemm.ee 9 points 1 year ago (1 children)

I was confused until I read this:

The move is meant to check non-basmati exports which are prohibited but being exported in the garb of Basmati...

[–] mwalimu@baraza.africa 3 points 1 year ago

Yes, same with last year's festive season. So it is part of a wider plan around domestic supplies, price controls, and limiting basmati fakes.

Last month, the government banned exports of non-basmati white rice to boost domestic supply and keep retail prices under check during the upcoming festive season.