Centre Sets Minimum Export Price for Basmati Rice at $1,200 Per Tonne
The Indian government has decided to prohibit the export of basmati rice below $1,200 per tonne in order to prevent the illegal shipment of non-basmati rice disguised as premium basmati rice. Existing contracts below this price have been put on hold, and a committee will be formed to evaluate future actions. These measures are part of the government's efforts to control rice prices and boost domestic supply. India has also imposed restrictions on all varieties of non-basmati rice and introduced additional safeguards to prevent illegal exports.