| Date: |
05-07-2012 |
| Subject: |
India removes floor export price of basmati rice-govt |
|
India has removed the floor price of basmati rice, a government statement said on Wednesday, freeing the overseas sale of the aromatic rice without restriction.
"Basmati rice can be exported without any minimum export price (MEP)," a commerce ministry statement said.
India, the world's biggest producer of basmati rice, was selling the grain at prices above $700 per tonne.
India annually exports more than half of its basmati rice output of around 4.6 million tonnes, mainly to the Middle East and Europe.
India already allows overseas sale of the common rice variety without any restriction.
Source : in.reuters.com
|