Tag Archives: basmati rice

India’s Annual Inflation Unexpectedly Accelerates

India , the Asia’s third-largest economy’s inflation soared to 7.83% for the week ended May 03, 2008 from 7.61% – a 44-month high .

Earlier, Indian government banned cement export and non-basmati rice export , reduced import duty on some items and imposed export duty on some steel items to control the surging prices.

India raises rice export prices

indian_rice_fields.jpg

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.