Page 3 - Basmati Rice

Punjab CM demands rollback of restrictions on basmati rice exports

Punjab Chief Minister Bhagwant Mann on Friday said that the restrictions on exports of basmati rice imposed by the Union government is against the interests of the farmers and demanded its immediate rollback. Addressing a gathering during "Kisan Mela" organised here at the Punjab Agricultural University, the chief minister lamented that "this illogical decision will do considerable damage to the economic situation of the farmers as well as the traders". The Union government has fixed Minimum Export Price of basmati at USD 1,200 per tonne "which adversely hit the domestic price of the crop". Mann, according to an official statement, said that the Union government must remove all these restrictions to safeguard the interests of the farmers from the state. The chief minister said that the hard working and resilient farmers of the state are already at a crossroads due to the ever escalating cost of the farm inputs and "low MSP". He said that the state produces maximum basmati rice in

Top headlines: Modi-Biden bilateral meet ahead of G20, Adani's JV, and more

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Basmati rice and humble makhana on global platter for G20 chiefs' spouses

The exhibition will also feature displays on various climate-resistant crop varieties crucial for food and nutritional security

Here's how Indian rice exporters are finding ways to get past the curbs

The exporters are overbilling so that they do not lose their export market share to Pakistan, which is another major competitor in rice exports

Fresh govt curbs: 'Nearly half of basmati exports may be impacted'

In financial year 23, India exported around 4.6 million tonnes of basmati rice

Govt decides not to allow basmati rice exports below $1,200 per tonne

The government has decided not to allow exports of basmati rice below USD 1,200 per tonne to restrict possible "illegal" shipment of white non-basmati rice in the garb of premium basmati rice. In a statement on Sunday, the commerce ministry said it has directed trade promotion body APEDA not to register contracts below USD 1,200 per tonne. Existing contracts below USD 1,200 per tonne have been kept in abeyance. A committee under the chairman of APEDA will be set up to evaluate future course of action. Seeking to control retail prices of rice, the central government has been taking several steps to boost domestic supply. In September last year, it banned exports of broken rice, while last month it imposed restrictions on non-basmati white rice. Last week, a 20 per cent export duty was slapped on par-boiled non-basmati rice. With these curbs, India has now imposed restrictions on all varieties of non-basmati rice. According to the statement of the commerce ministry, the government

Centre imposes 20% export duty on parboiled rice; MEP on basmati rice

Till August 25, rice acreage in this kharif season was around 4.4% more than last year at 38.4 million

Punjab's area under Basmati cultivation rises 16% this Kharif season

Punjab has witnessed at least a 16 per cent increase in the area under the Basmati cultivation this Kharif season, Agriculture Minister Gurmeet Singh Khudian said here on Friday. He said the Amritsar district tops with 1.35 lakh hectares area sown under this long-grain rice. The campaign to promote crop diversification in the state -- launched by Chief Minister Bhagwant Singh Mann-led government -- has got a major push after Punjab witnessed at least a 16 per cent increase in area under Basmati cultivation, he added. During this Kharif Season, Basmati has been sown in 5.74 lakh hectares till August 14, out of the total paddy area of 31.88 lakh hectares. "During the Kharif Season 2022-23, the total area sown under paddy was 31.68 lakh hectares, out of which area under Basmati was 4.95 lakh hectares," he said. Khudian said Amritsar, followed by Muktsar, Fazilka and Tarn Taran registered maximum cultivation of Basmati.

Basmati rice exporters get requests for early shipments following ban

India exported around 4.5 million metric tons of basmati rice in 2022/23, with Saudi Arabia, Iran, Iraq, United Arab Emirates, Yemen and the United States among the top buyers

Centre bans export of non-basmati white rice to boost domestic supply

Till last week, paddy had been planted in around 10.32 million hectares, which is almost 9.8 per cent less than the area covered during the same period of last year

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India seeks import duty relaxations for basmati rice in FTA with UK

UK levies a tariff per tonne of around £56 on brown rice, and £125 on white rice

Basmati rice sales to grow 30% on high demand this fiscal: Report

Basmati rice sales are likely to increase 30 per cent to more than Rs 50,000 crore in the current fiscal, mainly due to high realisation and healthy demand, according to a report. In the report on Thursday, Crisil Ratings said that next fiscal, however, sales will decline 5-7 per cent as basmati rice realisation is expected to soften with anticipated increase in paddy acreage. The volume demand is expected to remain stable at 6.8 million tonnes, it added. "Basmati sector sales will likely rise 30 per cent this fiscal, with volume growing 10 per cent and realisation increasing 20 per cent. "Growth in export volume is driven by two factors -- increased food grain demand amid geo-political issues, and India benefiting from lower basmati exports from flood-affected Pakistan, a key basmati exporter. Next fiscal, sector sales will reduce by 5-7 per cent solely due to moderating prices," Crisil Ratings Director Nitin Kansal said. Basmati rice exports, comprising 64 per cent of sales by

FSSAI notifies first-ever regulatory standards for basmati rice

For the first time in the country, the Food Safety and Standards Authority of India (FSSAI) has specified identity standards for basmati rice

Iran no longer importing tea and basmati rice from India, says report

There is no clarification from Iran for the stoppage but exporters believe that it is due to widespread anti-hijab protests in the country

Govt likely to cap non-basmati and basmati rice blending to 15%

Currently, basmati - which is meant for exports to European nations only - is allowed with up to 15 per cent blending. However, for domestic sale, the blending goes up to 30-40 per cent

Rice prices soften in domestic markets after ban; exports may shrink by 25%

India, which commands 40% share in the global rice trade, exported 21.23 mt of rice in 2021-22, against 17.78 mt in the previous year

Explained: How govt imposing curbs on rice exports will affect India

The restrictions were placed, because sowing has not been up to expectations on account of irregularities in rainfall

KRBL surges 17% in two days on heavy volumes; stock hits over 3-year high

Last week, the government imposed 20 per cent export duties on various grades of rice like non-basmati, unmilled, semi-milled or totally milled, and husked brown.

Should you hold rice mill stocks amid export curbs?

Govt's imposition of export duties on rice may harm the profitability of rice-mill companies in the near-term. But, healthy rice harvest is expected to override negative sentiments in the long-haul