This is because the European Union (EU), from where the allegation came, accounts for very little of the country's rice export
The government on Wednesday clarified that India does not export genetically modified (GM) rice
With the new seed varieties, developed by the state-run Indian Agricultural Research Institute, farmers only need to irrigate the field once to moisten the soil before sowing the rice.
Top exporter India's 5% broken parboiled variety quotes fell to $354 to $358 per tonne from last week's $361 to $366 a tonne.
The world's biggest rice exporter is heading for record shipments this year that will help to keep rising food prices in check, according to the United Nations' Food and Agriculture Organization.
This compares to Rs 11,543 crore in the same period last fiscal
India mainly exports non-basmati rice to Bangladesh, Nepal, Benin and Senegal, and basmati rice to Iran, Saudi Arabia and Iraq
The purchases underscore tightening supplies in Asia, which could lift rice prices in 2021 and even force traditional buyers of rice from Thailand and Vietnam to switch to India
The purchases underscore tightening supplies in Asia
India deferred the requirement to July 1, 2021
India, the world's biggest rice exporter, is offering a steep discount to supplies from rivals Thailand and Vietnam to cut its surplus after a bumper harvest
India is the world's biggest exporter of rice and China is the biggest importer.
Exporters saw an unexpected demand surge as countries in West Asia rushed to build buffer stocks. But procedural problems could make it difficult to sustain the momentum
Rice is among the biggest agriculture exports from India along with buffalo meat and cotton
The negative market dynamics are resulting in a downward basmati price trend on the bourses
India's 5 percent broken parboiled variety was quoted around $370-$375 per tonne this week, the highest since the last week of September
Export of rice especially basmati, to Iran, valued at $1.5 billion in 2018-19 financial year, continue to weather uncertainty following US sanctions on its crude oil last year
Smaller shipments from India could help rivals such as Thailand, Vietnam and Myanmar to increase their exports, according to Indian exporters
The Thai government has asked farmers in 22 rice-growing provinces not to grow off-season crops
India, the world's top rice exporter, exports about 3 lakh tonnes of basmati rice to the EU.