82 Firms To Export 10 Lakh Tonnes Of Non-Basmati Rice.

State-owned trading firm STC is among the 82 exporters that have been allowed to export 10 lakh tonnes of non-basmati rice at a fixed export price of USD 400 per tonne, the commerce ministry today said.

"The document submission to DGFT for export of 10 lakh tonnes of non-basmati rice would commence on Thursday and will close on August 18," Directorate General of Foreign Trade (DGFT) said.

A maximum of 12,500 tonnes were allowed to be exported by an individual.

On July 11, the Empowered Group of Ministers on food, headed by Finance Minister Pranab Mukherjee, had allowed these shipments. There was a ban on exports of non-basmati rice since April 2008.

The government had permitted exports of the commodity through privately held stocks, with a condition to register contracts with DGFT on a first-come-first-serve basis.

Besides STC, the successful allotees, include SMC India, Indian Commodities for World and Asia Pacific Commodities.

However, the ministry has put 30 rice exporters on waiting list.

India's rice production increased to 95.32 million tones in 2010-11 crop year (July-June) as against 89.09 million tonnes in the previous year.

Source : moneycontrol.com