The government's big decision regarding the price of basmati rice, reduced the export price to 950 dollars

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New Delhi, 26 October-2023, Thursday

The central government has decided to reduce the export price of Basmati Rice to USD 950 per tonne. Earlier it was priced at 1200 USD. According to the government, overseas shipments are being affected due to high prices, due to which this decision has been taken. It may be mentioned that the government decided to allow the export of Basmati rice at less than USD 1200 per tonne following the apprehension of illegal shipment of non-Basmati rice under the guise of premium Basmati rice.

In August, the price was increased to 1200 dollars per tonne

To maintain the availability of rice in the country, the government has fixed the minimum export price of basmati at USD 1200 per tonne in August this year. Exporters cannot export below this price. Rice is the main kharif crop. Planting operations for the current season have been completed. But when the new crop of rice starts coming in from January, exporters are relieved as the government cuts the export price.

India and Pakistan are major producers of Basmati

With the current year's monsoon being disproportionate in some areas, the government's eye is also currently on rice production. Keeping in mind that assembly elections are being held in five states of the country in November, the government wants to take vigilance to ensure that food prices do not increase. India and Pakistan are major producers of Basmati. India's basmati rice is mainly exported to Yemen, America, Saudi Arabia, UAE etc.

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