India raises rice export prices

in Economy & Policy

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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.

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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.