Govt withdraws relief on non-Basmati rice exports
The government on Friday withdrew concessions given to rice exporters by announcing prohibition on export of non-basmati rice to strengthen supplies in the domestic market.
By PTI |
NEW DELHI: The government on Friday withdrew concessions given to rice exporters by announcing prohibition on export of non-basmati rice to strengthen supplies in the domestic market.
"The government has, with immediate effect, prohibited any export of non-basmati rice under the transitional arrangements," the Directorate General of Foreign Trade said in a statement.
While the government had put a ban on export of non-basmati rice in October last year, "exports were being undertaken against valid irrevocable commercial letters of credit in order to honour the prior commitments of exporters".
But with the latest notification, export of non-basmati rice even against letters of credit is now prohibited.
With the ban in place, procurement by government agencies is expected to rise to meet the demand for the Public Distribution System and other government schemes.
For improving the domestic supplies and discouraging exports, the government had also clamped a restriction of a Minimum Export Price of $500 per ton.
"The government has, with immediate effect, prohibited any export of non-basmati rice under the transitional arrangements," the Directorate General of Foreign Trade said in a statement.
While the government had put a ban on export of non-basmati rice in October last year, "exports were being undertaken against valid irrevocable commercial letters of credit in order to honour the prior commitments of exporters".
But with the latest notification, export of non-basmati rice even against letters of credit is now prohibited.
With the ban in place, procurement by government agencies is expected to rise to meet the demand for the Public Distribution System and other government schemes.
For improving the domestic supplies and discouraging exports, the government had also clamped a restriction of a Minimum Export Price of $500 per ton.
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