Curbs on rice export tightened to check price rise
Battling the rise in prices of food grains, the government has imposed fresh restrictions on export of rice that allows shipment of only those non-basmati varieties that cost more than $ 650 a tonne.
By PTI |
NEW DELHI: Battling the rise in prices of food grains, the government has imposed fresh restrictions on export of rice that allows shipment of only those non-basmati varieties that cost more than $ 650 a tonne.
The earlier price limit for export eligibility was $ 500 a tonne. Further, the export can be carried out from only four ports.
For the first time, the price restriction of $ 900 per tonne has been imposed on superior quality basmati rice as well, according to a notification by the Directorate General of Foreign Trade.
Besides the price restrictions, export shipment of rice would be permitted only from Kandla, Kakinada, Kolkata and JNPT Port in Mumbai. Shipments from other ports would be allowed only for the stock being loaded on the vessels.
High food grains prices due to rise in domestic consumption and tight global supplies has been a cause of concern for the government.
Inflation has crossed the RBI-defined tolerant limit of five per cent for the week ended February 23 with food grains prices also looking up.
Finance Minister P Chidambaram, in his Budget speech, highlighted the need for tackling inflation, while terming it as a big challenge and priority for the government.
India has exported 31.87 lakh tons of non-basmati rice, valued at Rs 3,759.84 crore during April-October period of the current fiscal. In the previous year, exports stood at 37.02 lakh tons valued at Rs 4,243.08 crore.
Basmati rice export till October this fiscal were 5,67,000 tons valued at Rs 1,687.77 crore. In the previous year, these exports were 10.45 lakh tons valued at Rs 2,792.81 crore.
The earlier price limit for export eligibility was $ 500 a tonne. Further, the export can be carried out from only four ports.
For the first time, the price restriction of $ 900 per tonne has been imposed on superior quality basmati rice as well, according to a notification by the Directorate General of Foreign Trade.
Besides the price restrictions, export shipment of rice would be permitted only from Kandla, Kakinada, Kolkata and JNPT Port in Mumbai. Shipments from other ports would be allowed only for the stock being loaded on the vessels.
High food grains prices due to rise in domestic consumption and tight global supplies has been a cause of concern for the government.
Inflation has crossed the RBI-defined tolerant limit of five per cent for the week ended February 23 with food grains prices also looking up.
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Finance Minister P Chidambaram, in his Budget speech, highlighted the need for tackling inflation, while terming it as a big challenge and priority for the government.
India has exported 31.87 lakh tons of non-basmati rice, valued at Rs 3,759.84 crore during April-October period of the current fiscal. In the previous year, exports stood at 37.02 lakh tons valued at Rs 4,243.08 crore.
Basmati rice export till October this fiscal were 5,67,000 tons valued at Rs 1,687.77 crore. In the previous year, these exports were 10.45 lakh tons valued at Rs 2,792.81 crore.
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