Govt panel may up Basmati export floor price to $1,100/t

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A government panel may up Basmati export floor price to USD 1,100 per tonne, reports CNBC-TV18, quoting NewsWire18. Sources said it is likely to consider an export floor price hike on March 18.

It may extend its zero duty on import of pulses by one year, sources added.

On March 8, Reuters reported that the government has no immediate plans to import rice. But the government may consider overseas purchases if it fails to buy adequate quantity from local farmers, Jyotiraditya Scindia, the junior trade minister, told Parliament.

He said there was no proposal to lift a ban on non-basmati rice exports, clamped down since October 2007. The country exported basmati rice worth Rs 62.01 billion between April and September 2009, Scindia said.

(With inputs from Reuters)