Cabinet partly lifts rice export ban

Cabinet partly lifts rice export ban
PTI
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First Published: Thu, Oct 25 2007. 04 07 PM IST
Updated: Thu, Oct 25 2007. 04 07 PM IST
New Delhi: The government today lifted the ban on export of superior quality non-basmati rice priced over $425 a tonne.
The decision to withdraw the ban on export of expensive non-basmati rice was taken by the Union Cabinet at a meeting here, Information and Broadcasting Minister P R Dasmunsi said.
He said the decision followed representations by rice-growing states.
The government had on 9 October imposed a ban on export of all non-basmati rice to augment domestic stocks.
The move was opposed by exporters and rice growers as it led to depressing of prices in the domestic market and deprived the growers the benefit of lucrative exports. This prompted Agriculture Minister Sharad Pawar and Commerce Minister Kamal Nath to review the situation early this week.
Nath had yesterday said that stocks of all varieties lying in port godowns up to October 10 would not come under the export ban. He said exports for which letters of credit were opened before 9 October will not come under the ban.
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First Published: Thu, Oct 25 2007. 04 07 PM IST
More Topics: Cabinet | Rice | Export | Basmati | Money Matters |