Posted 10/15/2023, 1:30:00 PM
India Reviews Basmati Rice Export Policy Amid Concerns Over Falling Prices and Exports
- Indian government reviewing basmati rice export floor price it set in August to curb overseas shipments
- Concerns from exporters that floor price is hurting basmati exports; met with government
- India banned white rice exports in July, later imposed 20% duty on parboiled rice exports
- Floor price aimed to ensure non-basmati rice not exported as basmati
- New rice crop arriving has led to price declines; government statement says reviewing floor price