Basmati rice growers face losses as floor price dents exports
The Indian government has allowed the export of 10,34,800 tonnes of non-basmati white rice to seven countries including Nepal, Cameroon, and Malaysia, through the National Cooperative Exports Limited (NCEL), as announced by the Directorate General of Foreign Trade (DGFT). This export permission comes after a temporary ban was imposed on July 20 to boost domestic supply, with exemptions granted to meet food security needs in these nations upon their request.
The government on Wednesday said it has permitted exports of 10,34,800 tonnes of non-basmati white rice to seven countries, including Nepal, Cameroon and Malaysia. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) said in a notification.
Though exports of non-basmati white rice were banned on July 20 to boost domestic supply, exports are allowed on the basis of permission granted by the government to certain countries to meet their food security needs and on request. “Export of non-basmati white rice… To Nepal, Cameroon, Cote D’ Ivore, Guinea, Malaysia, Philippines, and Seychelles is notified,” it said.
The quantity notified for Nepal is 95,000 tonnes, Cameroon (1,90,000 tonnes), Cote D’ Ivore (1,42,000 tonnes), Guinea (1,42,000 tonnes), Malaysia (1,70,000 tonnes), Philippines (2,95,000 tonnes), and Seychelles (800 tonnes).
Source Link : https://www.msn.com/en-in/money/markets/basmati-rice-growers-face-losses-as-floor-price-dents-exports/ar-AA1ipYPP
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