Page 3 - Basmati Rice

Commerce ministry reduces floor price of basmati exports to $950 per tonne

The government has reduced the floor price for basmati rice exports to USD 950 per tonne from USD 1,200 per tonne amid concerns that higher prices were hurting outward shipments. In a communication to export promotion body APEDA, the Union Commerce Ministry has said "it has been decided to revise the price limit for registration of contract for export of basmati rice from USD 1,200 per tonne to USD 950 per tonne." The government on August 27 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. Recently, the food ministry had said the government is considering the industry's demand to reduce the floor price.

Centre likely to bring down floor price for basmati rice exports to $950 MT

India imposed a $1,200 per tonne MEP on basmati rice shipments in August to keep a lid on local prices ahead of key state elections

India allows export of over 1 mn tonnes of non-basmati rice to 7 countries

The government on Wednesday said it has permitted exports of 10,34,800 tonnes of non-basmati white rice to seven countries, including Nepal, Cameroon and Malaysia. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) said in a notification. Though exports of non-basmati white rice were banned on July 20 to boost domestic supply, exports are allowed on the basis of permission granted by the government to certain countries to meet their food security needs and on request. "Export of non-basmati white rice... to Nepal, Cameroon, Cote D' Ivore, Guinea, Malaysia, Philippines, and Seychelles is notified," it said. The quantity notified for Nepal is 95,000 tonnes, Cameroon (1,90,000 tonnes), Cote D' Ivore (1,42,000 tonnes), Guinea (1,42,000 tonnes), Malaysia (1,70,000 tonnes), Philippines (2,95,000 tonnes), and Seychelles (800 tonnes).

Basmati rice growers face losses as current floor price dents exports

India, the world's biggest rice exporter, has also curbed exports of non basmati rice varieties in an attempt to keep a lid on domestic prices ahead of key state elections

Basmati rice minimum export price review still under consideration: Centre

Some traders said FOB export price of Indian basmati near the MEP, while others oppose

Huge demand for Indian chicken, basmati rice in Middle East: UAE industry

Seeking Indian government support for imports, the UAE food industry said that huge demand is there in the Middle East countries for chicken, dairy, basmati rice, frozen marine goods and wheat products from New Delhi. The UAE industry has sought the support of the Indian government in smooth certification processes, more coordination with Agricultural & Processed Food Products Export Development Authority (APEDA), and harmonisation of standards. They also said that high quality packaging of Indian products would help boost New Delhi players to increase exports of food and food products in countries like Bahrain, Kuwait, the Sultanate of Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE). Commerce and Industry Minister Piyush Goyal, who was in the UAE, last week held detailed discussions with these importers and discussed ways to increase exports from India. "There is huge scope for India to export frozen products in these countries," Global Food Industries LLC Head of ...

20% export duty woes: Parboiled rice exports fall over 80% in a month

Duty woes: Basmati rice exports down 30% from Aug 25 to Sep 20

Centre to cut floor price for basmati rice exports in coming days: Report

India will lower the basmati floor price to $850 a metric ton, down from $1,200 a ton, to help millers and traders ship out the rice grade, said the report

Centre likely to lower basmati MEP, tightens stock limits on tur and urad

Food Min Piyush Goyal is believed to have held a high-level meeting with exporters and others to understand the ground situation, though there has been no official confirmation of any such meeting

'LT Foods targets up to 10% revenue from convenience segment in next 5 yrs'

LT Foods Ltd, which owns basmati rice brands -- Daawat and Royal, is looking at 'Convenience & Health' segment as a "growth enabler' for the company, as it targets up to 8 to 10 per cent revenue from this category in the next five years, its MD & CEO Ashwani Kumar Arora said. The company is leveraging existing brands and distribution strength for its ready-to-cook and ready-to-eat products in the Convenience & Health segment, a category where consumption has increased in Indian homes, particularly after the pandemic. "The goal is to take 8-10 per cent of the total revenue from the third vertical (Convenience & Health). Our target is the next five years," Arora told PTI. The Delhi-based company entered this segment around four years ago with the brand extension of Dawat in the US market and has subsequently extended it in the Indian market. "We have achieved an impressive 3-year Compound Annual Growth Rate (CAGR) of 30 per cent, resulting in this segment contributing ...

Pilot project of residue-free basmati being undertaken: Punjab Minister

The Punjab government has undertaken a pilot project under which residue-free basmati crop has been cultivated in Chogawan block in Amritsar district, state agriculture minister Gurmeet Singh Khudian said on Sunday. Residue-free practice entails minimal or no usage of chemicals. The initiative is aimed at promoting organic farming in the state as desired by Chief Minister Bhagwant Singh Mann, said the minister. The Chogawan block is popular for growing quality basmati rice. "Basmati rice has a great export potential as most of the grains produced in the region are being exported to the European and Middle-Eastern countries," said Khudian, while adding that presently, basmati rice is exported to more than 60 countries. Amritsar district alone contributed rice exports of around Rs 9,000 crore last year, he added. To increase the export potential of basmati rice from Punjab, Khudian stated that the state agriculture department has also launched an awareness campaign to sensitise far

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

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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