{"id":7248,"date":"2023-08-27T10:58:29","date_gmt":"2023-08-27T10:58:29","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=7248"},"modified":"2023-08-27T10:58:30","modified_gmt":"2023-08-27T10:58:30","slug":"centre-imposes-conditional-curbs-on-basmati-rice-export","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/centre-imposes-conditional-curbs-on-basmati-rice-export\/","title":{"rendered":"Centre imposes conditional curbs on basmati rice export"},"content":{"rendered":"\n<p>The Centre on Sunday imposed conditional curbs on basmati rice export too, according to a notification.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"549\" height=\"309\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-162.png\" alt=\"\" class=\"wp-image-7250\" srcset=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-162.png 549w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-162-300x169.png 300w\" sizes=\"(max-width: 549px) 100vw, 549px\" \/><\/figure>\n\n\n\n<p>The new measure temporarily halts all basmati rice exports contracted at a price lower than $1200 a ton<\/p>\n\n\n\n<p>The Union government has temporarily halted export of any basmati rice consignment being sold overseas for less than $1200 a tonne, while shipments contracted above that price threshold will continue to be allowed, according to an order issued on Saturday.<\/p>\n\n\n\n<p>The move would slow down the export of one of India\u2019s most sought-after, high-value export items. The country shipped basmati rice worth over $4.79 billion in 2022-2023, mostly to the Middle-east and the US.<\/p>\n\n\n\n<p>Battling persistent high food prices, the world\u2019s largest exporter of the grain had banned the export of all grades of non-basmati white rice on July 20, sending global prices to a 12-year high, as measured by the Food and Agriculture Organisation (FAO) rice price index. The fresh curbs on basmati export are likely to accelerate global prices further.<\/p>\n\n\n\n<p>A commerce ministry order reviewed by HT said the new regulations on basmati export come after \u201ccredible information\u201d that non-basmati rice was being shipped out using export provisions that apply to the aromatic basmati variety.<\/p>\n\n\n\n<p>A letter from the commerce ministry to the Agriculture and Processed Food Products Export Development Authority (APEDA), a regulatory body, on August 26 imposed a set of conditions on basmati exports that could dent India\u2019s export earnings.<\/p>\n\n\n\n<p>The letter states that all overseas basmati sale contracts with a \u201cvalue of below USD 1200 per metric tonne should be kept in abeyance\u201d. It further says that all such export contracts \u201cmay be evaluated by a committee set up by the chairman, APEDA\u201d.<\/p>\n\n\n\n<p>It is likely that these exports would be allowed only after scrutiny by a committee to be set up, as stated in the order.<\/p>\n\n\n\n<p>Basmati exports contracted above a price value of $1200 per tonne are allowed to be exported as usual.<\/p>\n\n\n\n<p>The government has now deployed a full gamut of export restrictions on cereals on the back of high food inflation, which rose a sharp 11% in July, as the overall consumer inflation rate accelerated to a 15-month high of 7.44%.<\/p>\n\n\n\n<p>Traders alleged that the new regulation in effect sets a minimum export price on basmati rice, a commodity whose exports are not usually curbed because it is a premium variety of cereal that is mostly exported.<\/p>\n\n\n\n<p>\u201cThis will give an advantage to\u00a0Pakistan, which also grows basmati,\u201d a north Indian trader said on condition of anonymity. This year, the government has focused on bolstering domestic food stocks due to concerns over an uneven monsoon that could be impacted by the El Nino weather pattern.<\/p>\n\n\n\n<p>An El Nino, a global weather pattern marked by warmer ocean temperatures, often causes drought in the country by suppressing the monsoon, vital for Asia\u2019s third-largest economy.<\/p>\n\n\n\n<p>The fight to control cereal inflation has been two-pronged. One, the government has stopped or curbed exports, and two, it has been releasing stocks from state-held granaries.<\/p>\n\n\n\n<p>Last week, the government imposed an\u00a0export duty of 20% on parboiled rice. On August 8, the Centre announced it would release 5 million tonnes of additional wheat and 2.5 million tonnes of rice through auctions. The government has also decided to reduce the reserve price of rice, from\u00a0\u20b931 a kg to\u00a0\u20b929 a kg, to improve \u201cofftake\u201d, or quantities actually sold to traders.<\/p>\n\n\n\n<p>\u201cThe current risk to food inflation emanates from excess rain damage to vegetables. Looking at current production trends, pulses are in a vulnerable position,\u201d Dharmakirti Joshi, chief economist at Crisil Ltd, wrote in a recent research note.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Centre on Sunday imposed conditional curbs on basmati rice export too, according to a notification. The new measure temporarily halts all basmati rice exports contracted at a price lower than $1200 a ton The Union government has temporarily halted export of any basmati rice consignment being sold overseas for less than $1200 a tonne, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7250,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[215,160,159],"class_list":["post-7248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-basmati-rice","tag-rice-export","tag-global-rice-news"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Centre imposes conditional curbs on basmati rice export - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Centre imposes conditional curbs on basmati rice export - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"The Centre on Sunday imposed conditional curbs on basmati rice export too, according to a notification. The new measure temporarily halts all basmati rice exports contracted at a price lower than $1200 a ton The Union government has temporarily halted export of any basmati rice consignment being sold overseas for less than $1200 a tonne, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ricenewstoday.com\/dev\/centre-imposes-conditional-curbs-on-basmati-rice-export\/\" \/>\n<meta property=\"og:site_name\" content=\"Rice News Today\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-27T10:58:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-27T10:58:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-162.png\" \/>\n\t<meta property=\"og:image:width\" content=\"549\" \/>\n\t<meta property=\"og:image:height\" content=\"309\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Developer Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Developer Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/centre-imposes-conditional-curbs-on-basmati-rice-export\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/centre-imposes-conditional-curbs-on-basmati-rice-export\/\"},\"author\":{\"name\":\"Developer Team\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#\/schema\/person\/5bab6fa4a598696885d5615daac778dd\"},\"headline\":\"Centre imposes conditional curbs on basmati rice export\",\"datePublished\":\"2023-08-27T10:58:29+00:00\",\"dateModified\":\"2023-08-27T10:58:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/centre-imposes-conditional-curbs-on-basmati-rice-export\/\"},\"wordCount\":601,\"publisher\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/#organization\"},\"image\":{\"@id\":\"https:\/\/ricenewstoday.com\/dev\/centre-imposes-conditional-curbs-on-basmati-rice-export\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/08\/image-162.png\",\"keywords\":[\"basmati rice\",\"Rice Export\",\"Global Rice News\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ricenewstoday.com\/dev\/centre-imposes-conditional-curbs-on-basmati-rice-export\/\",\"url\":\"https:\/\/ricenewstoday.com\/dev\/centre-imposes-conditional-curbs-on-basmati-rice-export\/\",\"name\":\"Centre imposes conditional curbs on basmati rice export - 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