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.
- India’s Sparkling Diamond Export
- Reserve Bank of India raises Cash Reserve Ratio (CRR) to 7.5%
- Japan Farmers crop art in rice paady
- Indian Export sector: 2 million may lose jobs
- Maruti increases prices up to Rs 11,000 across all models
- Indian Premier League Prices Paid For the Players
- Can India’s GDP Growth Hit 10%?
- India’s 10 fastest growing cities
- India GDP to grow 8.7% in FY 2008
- India GDP and Economic at a Glance