Traders expect govt to revoke ban partially

Traders expect govt to revoke ban partially
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First Published: Fri, Apr 11 2008. 10 42 PM IST
Updated: Fri, Apr 11 2008. 10 42 PM IST
Mumbai: Indian rice exporters expect the government to allow exports of a superior grade of non-basmati rice, which may add nearly 300,000 tonnes to the tightly supplied international market, traders said.
The government has held talks with rice exporters, who have been hit by a decision to ban overseas sales of non-basmati rice to increase domestic supplies and lower prices.
“We are expecting a decision on this in the next 10-15 days,” Vijay Sethia, president of the All India Rice Exporters’ Association, said.
The government was likely to broaden the definition of basmati rice to include the high-yielding aromatic Pusa 1121 variety, which would allow exports, he said.
After India restricted rice exports, traders complained that certain superior grades, which the poor could not afford, would also be hit by the blanket ban on non-basmati exports. Sethia said export prices of Pusa 1121 were at $1,600 (Rs64,000) per tonne, the same as basmati rice.
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First Published: Fri, Apr 11 2008. 10 42 PM IST
More Topics: Traders | Government | Rice | Export | Basmati |