Government is considering reviewing the minimum export price of Basmati rice.
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New Delhi. The government on Sunday said it is seriously considering reviewing the minimum export price of Basmati rice, which currently stands at US$1,200 a tonne. It is noteworthy that due to high prices the country’s exports have been affected. Rice exporters associations are demanding that this rate should be reduced to about US$850 per tonne. The government had decided in August that basmati rice would not be exported at a price below $1,200 a tonne.
This was done to prevent illegal export of non-Basmati rice under the guise of Basmati rice. The Union government has taken several steps to boost domestic supply of rice and curb prices, the Ministry of Consumer Affairs, Food and Public Distribution said in a statement on Sunday.
The statement further said, the Central Government is reviewing the Free on Board (FOB) price for issuing Registration-cum-Allotment Certificate (RCAC) for Basmati rice. According to the statement, applications received from rice exporter associations said that the high FOB price is adversely affecting the export of Basmati rice from India.
After this, Food and Consumer Affairs Minister Piyush Goyal held a meeting with Basmati rice exporters. The ministry said that based on the discussion in this meeting, the government is seriously considering reviewing the FOB price for export of Basmati rice. However, until the government takes an appropriate decision, the current system will continue.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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