To discourage exports and control domestic food costs Indian government has raised the minimum price for exporting rice. India exports about 4-5 million tonnes of rice annually.
Non-basmati rice rate has gone up from $500 a tonne to $650 (Rs 26,000 rupees ).
Basmati rate has gone to $900 (Rs 36,000 rupees ). Earlier, there was no fixed minimum price for export of basmati rice.
Grown on both sides of Ravi River that flows in East and West Punjabs (Indian and Pakistani), basmati gives a unique cultural taste !
“The step is aimed at restricting outflow of rice from the country,” Vijay Sethia, president of the All India Rice Exporters’ Association, said on Friday.