FM hopeful of removal of ban on rice export

FM hopeful of removal of ban on rice export

Gurgaon: Describing restrictions imposed on export of certain kinds of rice as temporary, Finance Minister P Chidambaram on Monday expressed hope that they will be removed as early as possible.

“I know that we were forced to put temporary constraints on certain kinds of rice...hopefully these restrictions can be removed as early as possible," he said after inaugurating the new facility of rice exporting firm Tilda Riceland here.

“I am not giving you any date or I am not promising you any thing but things will ease and we will be able to remove these temporary restrictions," the minister said.

He further said for the first time three crisis in global economy - fuel, food and financial - caused certain strains in Indian economy and forced the government to put certain restrictions on export of non-basmati rice.

The government banned export of non-basmati rice in April this year to fight inflationary pressure.

India is the third largest exporter of rice after Thailand and Vietnam.

“We know that these restrictions hurt farmers, traders, millers, exporters and consumers. But these restrictions are indeed temporary,“ Chidambaram said.

He said the government already allowed export of Pusa 1121 variety of rice a couple of weeks ago.

Pointing out that easing of the situation will enable the government to remove temporary restrictions, the Finance Minister said, what is important is to increase productivity.